U.S. consumers have cut back on spending this year, and they plan to continue to do so through the holidays, a new CNBC-Morning Consult survey has found.The vast majority of adults (92%) have reduced their spending over the past six months, according to a poll fielded on behalf of...
A pedestrian passes a smoke shop in New York City on June 16, 2023. New York authorities are cracking down on unlicensed smoke shops that are selling cannabis.Spencer Platt | Getty Images News | Getty ImagesNew York officials are ramping up efforts to stop the statewide proliferation of unlicensed...
Legendary golfer Gary Player thinks government and sports shouldn't mix, as the golf world goes through a major merger that has triggered antitrust concerns.Speaking to CNBC at the Berenberg Invitational on Monday, the South African golfer said the two have become "too intertwined.""We've got to get governments to stay...
The auto workers' strike is the latest in a series of labor-management conflicts that economists say could start having significant growth impacts if they persist.So far, the United Auto Workers stoppage has impacted just a small portion of the workforce with limited implications for the broader economy.But it is...
In an aerial view, the Valero Houston refinery is seen on August 28, 2023 in Houston, Texas.Brandon Bell | Getty ImagesCheck out the companies making headlines in midday trading.Oil stocks — Petroleum refiners Valero Energy and Marathon Petroleum gained 1.5% and 1.2%, respectively, as West Texas Intermediate and Brent...
U.S. homebuilders are feeling pessimistic about their business for the first time in seven months, thanks to stubbornly high mortgage rates.Builder confidence in the single-family housing market fell 5 points in September to 45 on the National Association of Home Builders/Wells Fargo Housing Market Index. The decrease follows a...
Shannon Stapleton | ReutersMorgan Stanley has officially kicked off the generative AI era on Wall Street.The bank plans to announce Monday that the assistant it created with OpenAI's latest generative AI software is "fully live" for all financial advisors and their support staff, according to a memo obtained by...
Colorox brand toilet bowl cleaner sits on display at a supermarket in Princeton, Ill.Daniel Acker | Bloomberg | Getty ImagesClorox on Monday warned of a material financial hit from ongoing production disruptions caused by a cyberattack last month.The company, which produces its namesake bleach products and Pine-Sol, among other...
A DoorDash Inc. delivery bag sits on the floor at Chef Geoff's restaurant in Washington, D.C.Andrew Harrer | Bloomberg | Getty ImagesCheck out the companies making headlines in premarket trading.PayPal – Shares of the payments giant fell more than 1% premarket after MoffettNathanson downgraded the stock to market perform...
Chief executive officer of The Walt Disney Company Bob Iger and Mickey Mouse look on before ringing the opening bell at the New York Stock Exchange (NYSE), November 27, 2017 in New York City.Getty ImagesUsually when a person or company sells something, the primary motivation is getting back as...