Wharton's Jeremy Siegel: Waller is right that the Fed should be lowering rates
Jeremy Siegel, Wharton School professor of finance and Wisdom Tree chief economist, joins CNBC's 'Closing Bell' to discuss market outlooks.
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CNBC
24 minutes ago
- CNBC
Supreme Court rejects fast track of Trump tariff challenge by toy companies
Key Points President Donald Trump's tariffs, a key part of his trade agenda, have drawn legal challenges from businesses and individuals questioning his authority to implement the high levies. The Supreme Court ruling gives the Trump administration more time to file its response to the challenge from two toy companies. The two toy companies argued that the International Emergency Economic Powers Act did not give Trump the authority to implement his tariffs. The Supreme Court on Friday rejected a request from two toy companies to expedite their challenge to President Donald Trump's tariffs. The ruling from the nation's high court means that the Trump administration now has the standard 30-day window to file its response to the challenge. Two small family-owned companies, Learning Resources and hand2mind, argued that Trump lacked authority under the International Emergency Economic Powers Act to impose his April 2 tariffs. The companies earlier this week asked the Supreme Court to expedite consideration of their challenge and bypass a federal appeals court. "In light of the tariffs' massive impact on virtually every business and consumer across the nation, and the unremitting whiplash caused by the unfettered tariffing power the president claims, challenges to the IEEPA tariffs cannot await the normal appellate process," the companies argued in their request. Rick Woldenberg, the chairman and CEO of Learning Resource and hand2mind, told CNBC that the Friday Supreme Court decision "was a disappointment but honestly just another twist in the road." "You want to win every motion but sometimes you don't," he said, adding that, "ultimately this showdown will be at the Supreme Court." Trump declared a national economic emergency under the IEEPA to justify implementing his tariffs without first getting congressional approval, a strategy that has drawn legal challenges from businesses and individuals questioning his authority The U.S. Court of International Trade last month temporarily blocked Trump's tariffs, saying that the IEEPA, which became law in 1977, does not authorize a president to implement universal duties on imports. But a federal appeals court earlier this month allowed Trump's tariffs to remain in effect until it hears arguments on that case at the end of next month. — CNBC's Lori Ann Wallace contributed reporting.
Yahoo
41 minutes ago
- Yahoo
Did you buy a coveted Costco gold bar last year? Here's how much it's worth today amid soaring market prices
You may have struck gold — quite literally. Costco customers who purchased a gold bar last year are now finding the item soaring in value thanks to increased demand. Since the retail company began selling these bars in 2023, they've been a draw for customers, as investors historically tend to turn to gold during times of geopolitical instability, inflation and concern over the US dollar. According to CNBC, gold traded around $3,390 per ounce as of Tuesday morning, about 45% higher than it was at this time last year and near a recent record high. In June 2024, the listed purchase price for a one-ounce gold bar at Costco was $2,399.99. The spot price as of June 17, 2025, was $3,390, which is an unrealized gain of $990 and a 41.3% percentage increase. If you bought the bar of gold last year, you might be considering selling it for a profit — but it's not that simple. The spot price is a benchmark for price negotiation, but sellers typically receive about 5-10% less than that, depending on where and how they sell their gold, Jon Ulin, a certified financial planner based in Boca Raton, Florida, told CNBC. 'I would avoid private buyers or marketplaces like eBay or Facebook Marketplace,' Ulin shared. 'You're dealing with a high-value item and there's a risk of encountering less-than-reputable individuals.' Meanwhile, brick-and-mortar bullion dealers offer in-person evaluations and immediate payment — and may pay 1-5% below the spot price, which is often more than pawn shops offer, according to a 2024 Wall Street Journal report. Regardless, it's important to vet potential buyers on platforms such as Yelp, Google or the Better Business Bureau to help avoid lowball offers or scams. Any profits made from selling gold can also be taxed at a higher rate than other investments since the IRS typically classifies physical gold as a collectible, according to CNBC. A 'collectible' classification means that federal long-term capital gains can be taxed at a rate up to 28%, and if it's sold within one year, profit is taxed as ordinary income, which could lead to an even higher rate depending on the seller's tax bracket. In May, Costco restricted purchases on the coveted gold bars, limiting customers to up to two bars with only one transaction per membership every 24 hours. Around the same time, a finance influencer who purchased one of the retailer's gold bars sold the nugget nearly a year later for a $600 in profit. Humphrey Yang had reportedly purchased the one-ounce bar for $2,359 from Costco in April 2024 and sold it in March 2025 at the bullion dealer Witter Coin in San Francisco for $2,955.42. Error al recuperar los datos Inicia sesión para acceder a tu cartera de valores Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos
Bloomberg
2 hours ago
- Bloomberg
S&P 500 Trading Volume Spikes at Wall Street Close
Bloomberg Television brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today's guests are Anthony Saglimbene, Ameriprise Financial, Chris O'Cull, Stifel Financial, Jacob DeWitte, Oklo, Ray Takeyh, Council on Foreign Relations, Cole Smead, Smead Capital Management, Que Nguyen, Research Affiliates, Sonali Theisen, Bank of America, Joe Mathieu, Bloomberg News, Kim Wallace, 22V Research, Ice Cube, Big3, Jennifer Openshaw, Girls With Impact. (Source: Bloomberg)
