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CNBC
6 minutes ago
- CNBC
More stock market records, more trade deals, more trade talks — plus, lots of earnings
The S & P 500 rose every day this past week as trade deals, both in the works and announced, lent support to the market. The index heads into the final stretch of a strong July at record highs. For the week, the S & P 500 gained nearly 1.5%. The Nasdaq did not go wire to wire in the green this week, but it did rise 1%, closing at another record high. Ahead of the last trading day of the month on Thursday, the S & P 500 was up almost 3% for July, while the Nasdaq jumped 3.6%. The best session of the week came on Wednesday after President Donald Trump announced the night before what he called a "massive" trade agreement with Japan ahead of the Aug. 1 deadline. The deal settled on a 15% tariff on goods entering the United States from Japan, including automobiles. In exchange, Japan will invest $550 billion in America and open its market to more imports from the U.S. The trade focus now shifts to China and the European Union. Next week, Treasury Secretary Scott Bessent travels to Stockholm for talks with Chinese officials about extending the negotiating window for a trade deal. Regarding the EU, Trump said Friday he sees only a "50-50 chance" of a deal with the trading bloc. The president plans to meet with EU officials in Scotland on Sunday. .SPX .IXIC 5D mountain S & P 500 and Nasdaq 5-day performance The other big news of this past week was Trump's trip to the Federal Reserve on Thursday. He toured the central bank renovation site with Fed Chairman Jerome Powell. They spoke with reporters and had an uncomfortable moment over renovation costs. Trump signaled that he's no longer considering firing Powell. The president told reporters Friday that Powell and he had a "good meeting" about interest rates, and he believes the Fed will start cutting them. Powell has kept rates steady since December 2024, saying central bankers need more time to see how finalized tariffs will impact inflation. On the economy, the June existing home sales report was released on Wednesday, followed by June new home sales on Thursday. While sales of both were slower than expected, the reports diverged when it came to prices. The median price of a previously owned home sold in June was $435,300, up year over year and the 24th consecutive month of annual increases, according to the National Association of Realtors. However, government data showed the median sales price of new homes sold last month was $401,800 — below May and below year-ago levels. Watching housing price trends is important because it can give us signals on where shelter costs might be headed, which have been a key factor keeping overall inflation elevated. Second quarter earnings season has kicked into full gear, with results thus far coming in better than expected. According to FactSet, a third of the S & P 500 companies have already reported, with 80% of those delivering upside surprises to both sales and earnings expectations. Within the Club portfolio, we heard from Danaher, GE Vernova, Capital One, Honeywell, and Dover. Talk about a blowout. GE Vernova came into the quarterly print near all-time highs, setting a high bar of expectations, which it easily hopped over. The stock was rewarded with record highs and was our top performer of the week, with 12% gains. Shares have nearly doubled in 2025 versus the S & P 500's 8.6% advance this year. GE Vernova on Wednesday reported strong order growth and robust EBITDA margin expansion. EBITDA stands for earnings before interest, taxes, depreciation and amortization. Strong backlog growth also gives us confidence that end market demand remains healthy. "This era of accelerated electrification is driving unprecedented investments in reliable power, grid infrastructure, and decarbonization solutions," CEO Scott Strazik said on the post-earnings call. Danaher on Tuesday delivered a strong set of results, albeit against relatively low expectations. The company did outpace expectations on the top and bottom lines, thanks to strength in all key operating segments. While Chinese sales in biotechnology and life sciences grew, the positive numbers were overshadowed by sustained weakness in diagnostics due to the countries volume-based procurement program. The quarter was enough to spark a relief rally and keep us in the name. Danaher was our second-best performer this week, rising 8%. Despite a good week, the stock was still down 10.5% year to date. Capital One delivered a noisy quarter on Tuesday due to the Discover integration. While shares were among our losers this week, down 2.5%, they have been on a roll, up more than 19% year to date. We saw enough the quarter to reaffirm our view that there will be some serious long-term benefits resulting from the acquisition and its payment network. Capital One is one of only two banks in the world with their own credit card network, the other being American Express. We will look for the company to leverage that edge into earnings growth and for the stock to be rewarded for it with a higher multiple as the integration progresses and management executes on their game plan. We were surprised by Thursday's more than 4% stock drop on Dover 's earnings. In addition to a top and bottom-line beat, the company reported a record adjusted segment EBITDA margin, an acceleration in bookings that provides visibility into the future. It also outlined several growth and productivity investments to support long-term growth. Compounding the strong results, management raised its full-year outlook on both revenue growth and adjusted earnings per share. For the week, Dover lost about 1%. Like Dover, Honeywell stock was also dinged after it reported Thursday morning, despite the results coming in largely better than expected. Shares were our worst performer of the week, down 5.2%. While there was some weakness in aerospace and in segment margin performance, we were satisfied with the explanation provided by management on the call and believe the weakness provides a buying opportunity ahead of what we think will be a value-creating breakup into three separate operating companies. The split will start in the fourth quarter of this year, when management spins off the advanced materials business, and continue in 2026 with the separation of aerospace, which will leave the automation business as the third public company. In the week ahead, we will get seven more Club name earnings, including Amazon , Apple , Meta Platforms , and Microsoft . (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
CNN
2 hours ago
- CNN
How I flew Air France business class for just 60,000 miles
CNN Underscored reviews financial products based on their overall value. We may receive a commission through our affiliate partners if you apply and are approved for a product, but our reporting is always independent and objective. This may impact how links appear on this site. This site does not include all financial companies or all available financial offers. Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit to learn more. Flying between Europe and the US in the summer often comes with a hefty price tag. But with a bit of planning and the right travel rewards strategy, you can score a lie-flat business-class seat for a fraction of the usual cost. This summer, I flew one-way from Paris Charles de Gaulle (CDG) to Washington Dulles (IAD) in Air France business class for just 60,000 American Express Membership Rewards points. Importantly, I did not use the American Express travel portal to book the ticket but transferred points to Flying Blue, the joint loyalty program of Air France and KLM. Here's how I pulled it off — and how you might be able to do the same. Flying Blue is a valuable program to book airfare with miles to or from the US. It uses dynamic pricing, meaning that award rates fluctuate, but sometimes offers advantageous transatlantic prices. You can fly one-way between North America and Europe starting at 25,000, 40,000 and 60,000 miles in economy, premium economy and business class, respectively. It's also a transfer partner of American Express Membership Rewards®, Bilt Rewards, Capital One, Chase Ultimate Rewards®, Citi ThankYou Rewards, Marriott Bonvoy and Wells Fargo Rewards. That means you can transfer points from any of those programs to Flying Blue; you don't have to be a frequent flyer with Air France or KLM, or based in Europe, in order to earn miles in Flying Blue. In addition to that, the program often has transfer bonuses, meaning you can get more miles if you transfer to it from a credit card rewards program. For instance, a 20% bonus would mean that 50,000 points become 60,000 Flying Blue miles. Even without a transfer bonus, that one-way business-class flight from Paris to Washington for just 60,000 Flying Blue miles was a bargain. That's far cheaper than the 88,000 to 120,000 miles you might pay through other programs. I did have to pay taxes and fees that came to about $500, but that was still a fraction of the price of business class on a transatlantic flight. A round-trip fare between Paris and Washington is currently around $4,000, and a one-way is even more expensive, at $5,000. A post shared by Kyle Olsen (@kyleolsen10) The welcome bonus alone from some credit cards would be enough to book an award flight like this one. I've transferred Amex points and Capital One miles to Flying Blue, and here are a few standout cards from both issuers currently offering welcome bonuses that can get you all the way to 60,000 points and then some. American Express® Gold Card: Earn as high as 100,000 Membership Rewards® Points after you use your new card to make $6,000 in purchases in the first 6 months after opening the account. The welcome offer varies, and you may not be eligible for an offer; you'll need to apply first to find out your exact welcome offer amount (with no credit score impact; however, if you're approved and choose to accept the card offer, your score may be impacted). The Platinum Card® from American Express: Earn as high as 175,000 Membership Rewards® Points after you use your new card to make $8,000 in purchases in the first 6 months after opening the account. The welcome offer varies and you may not be eligible for an offer; you'll need to apply first to find out your exact welcome offer amount (with no credit score impact; however, if you're approved and choose to accept the card offer, your score may be impacted). American Express® Business Gold Card: Earn 100,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership. The Business Platinum Card® from American Express: Earn 150,000 Membership Rewards® points after you spend $20,000 on eligible purchases on your Business Platinum Card® within the first 3 months of Card Membership. Capital One Venture X Rewards Credit Card: 75,000 bonus miles once you spend $4,000 on purchases within 3 months of account opening. Capital One Venture Rewards Credit Card: 75,000 bonus miles once you spend $4,000 on purchases within 3 months of account opening. After searching on the Air France website, I located a nonstop Paris CDG to Washington IAD flight on my desired date for 60,000 miles in business class. I then transferred 60,000 Amex Membership Rewards points to my Flying Blue account. The transfer was nearly instant. It's very important to make sure an award seat, at the number of miles you want, is available before transferring points. That's because transfers are not reversible. To be clear, here's what the process looked like: I searched for award availability on and ensured a seat was available at 60,000 miles. I transferred 60,000 Amex points to Flying Blue. Within minutes, the miles posted, and I booked the flight. The fare I booked included two checked bags, access to the Air France business-class lounge at CDG, lie-flat seating, priority boarding, a multicourse French meal and champagne on board. The flight from Paris to Washington, D.C. was operated by a Boeing 777-300ER featuring a 1-2-1 reverse herringbone configuration in business class. This layout gives every passenger direct aisle access and a greater amount of privacy. While this wasn't Air France's newest business-class cabin — you'll find a more recent version on the Airbus A350 and on some 777s — the experience still felt elevated. Besides converting into a fully lie-flat bed, my seat included a plush duvet and pillow. The service, food and beverages stood out as well. From the moment I boarded, the crew was gracious and attentive. I was welcomed with a chilled glass of champagne served in real glassware, followed by a personalized introduction from the flight attendant. Lunch was a highlight too: a multicourse, French-inspired meal that included an amuse-bouche, starter, salad, main course, cheese selection, dessert and warm bread, all paired with a curated selection of French wines. The menu was printed and presented elegantly, and each course was served on fine china with stainless steel cutlery. An amenity kit stocked with Clarins skin care products, a sleep mask and other in-flight essentials was provided after takeoff. Headphones, a large entertainment screen and ample storage rounded out the seat experience. By the time we touched down in Washington, D.C., I felt genuinely rested and refreshed, something I rarely say after a long-haul flight. Even though I didn't use a transfer bonus in this case, Amex and Capital One frequently offer transfer bonuses to Flying Blue, sometimes at up to 25%. That would have lowered your cost in points even more. Regardless of bonus, here are the steps to follow to prep for your own redemption: Sign up for a Flying Blue account. Monitor Flying Blue's monthly Promo Rewards page, which often offers points deals to/from North America. Search for flights to/from your desired destinations, including the vast Air France and KLM network in Europe, which goes well beyond the Paris and Amsterdam hubs. Often, you'll find deals even outside Flying Blue promotions. Remember to confirm award space before transferring points, since transfers from credit card programs like Amex to Flying Blue are instant and can't be reversed. Flying business class across the Atlantic for just 60,000 Amex points and around $500 in taxes was one of the best redemptions I've made all year. There's something especially satisfying about using your points for a lie-flat experience, complete with wine, cheese and lounge access. If you keep an eye on Flying Blue Promo Rewards and transfer bonuses, you might just find yourself sipping champagne at 35,000 feet for even less than the 60,000 points I used. The following FAQs have been answered by CNN Underscored travel editor and credit card expert Kyle Olsen. How much are 60,000 Flying Blue miles worth? How much are 60,000 Flying Blue miles worth? While redemption rates vary, The Points Guy values 60,000 Flying Blue miles at $780. Which credit card points transfer to Flying Blue miles? Which credit card points transfer to Flying Blue miles? You can transfer points from the following points currencies to Flying Blue at a 1:1 ratio: American Express Membership Rewards Bilt Rewards Capital One Miles Chase Ultimate Rewards Citi ThankYou Rewards Wells Fargo Rewards What airlines can I use Capital One miles on? What airlines can I use Capital One miles on? You can use Capital One miles in the Capital One travel portal on most major airlines or transfer Capital One miles to 18 airline programs — mostly at a 1:1 ratio — to book award flights with major alliances. Aeromexico, Air France-KLM, Virgin Red: 1:1 (SkyTeam) Air Canada, Avianca, Singapore Airlines, TAP Air Portugal, Turkish Airlines, EVA Air: mostly 1:1 (Star Alliance) British Airways, Cathay Pacific, Finnair, Qantas: 1:1 (Oneworld) Emirates, Etihad, JetBlue: varies, not in alliances CNN Underscored's travel and credit card coverage is built on firsthand experience. This guide was written by travel editor Kyle Olsen, who used these exact strategies to book a real flight. From Paris to DC, this redemption proves that with the right tools and timing, luxury travel is within reach. Click here for rates and fees of the American Express Gold card. Click here for rates and fees of the American Express Platinum card. Click here for rates and fees of the American Express Business Gold card. Click here for rates and fees of the American Express Business Platinum card. Editorial disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
CNN
2 hours ago
- CNN
How I flew Air France business class for just 60,000 miles
CNN Underscored reviews financial products based on their overall value. We may receive a commission through our affiliate partners if you apply and are approved for a product, but our reporting is always independent and objective. This may impact how links appear on this site. This site does not include all financial companies or all available financial offers. Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit to learn more. Flying between Europe and the US in the summer often comes with a hefty price tag. But with a bit of planning and the right travel rewards strategy, you can score a lie-flat business-class seat for a fraction of the usual cost. This summer, I flew one-way from Paris Charles de Gaulle (CDG) to Washington Dulles (IAD) in Air France business class for just 60,000 American Express Membership Rewards points. Importantly, I did not use the American Express travel portal to book the ticket but transferred points to Flying Blue, the joint loyalty program of Air France and KLM. Here's how I pulled it off — and how you might be able to do the same. Flying Blue is a valuable program to book airfare with miles to or from the US. It uses dynamic pricing, meaning that award rates fluctuate, but sometimes offers advantageous transatlantic prices. You can fly one-way between North America and Europe starting at 25,000, 40,000 and 60,000 miles in economy, premium economy and business class, respectively. It's also a transfer partner of American Express Membership Rewards®, Bilt Rewards, Capital One, Chase Ultimate Rewards®, Citi ThankYou Rewards, Marriott Bonvoy and Wells Fargo Rewards. That means you can transfer points from any of those programs to Flying Blue; you don't have to be a frequent flyer with Air France or KLM, or based in Europe, in order to earn miles in Flying Blue. In addition to that, the program often has transfer bonuses, meaning you can get more miles if you transfer to it from a credit card rewards program. For instance, a 20% bonus would mean that 50,000 points become 60,000 Flying Blue miles. Even without a transfer bonus, that one-way business-class flight from Paris to Washington for just 60,000 Flying Blue miles was a bargain. That's far cheaper than the 88,000 to 120,000 miles you might pay through other programs. I did have to pay taxes and fees that came to about $500, but that was still a fraction of the price of business class on a transatlantic flight. A round-trip fare between Paris and Washington is currently around $4,000, and a one-way is even more expensive, at $5,000. A post shared by Kyle Olsen (@kyleolsen10) The welcome bonus alone from some credit cards would be enough to book an award flight like this one. I've transferred Amex points and Capital One miles to Flying Blue, and here are a few standout cards from both issuers currently offering welcome bonuses that can get you all the way to 60,000 points and then some. American Express® Gold Card: Earn as high as 100,000 Membership Rewards® Points after you use your new card to make $6,000 in purchases in the first 6 months after opening the account. The welcome offer varies, and you may not be eligible for an offer; you'll need to apply first to find out your exact welcome offer amount (with no credit score impact; however, if you're approved and choose to accept the card offer, your score may be impacted). The Platinum Card® from American Express: Earn as high as 175,000 Membership Rewards® Points after you use your new card to make $8,000 in purchases in the first 6 months after opening the account. The welcome offer varies and you may not be eligible for an offer; you'll need to apply first to find out your exact welcome offer amount (with no credit score impact; however, if you're approved and choose to accept the card offer, your score may be impacted). American Express® Business Gold Card: Earn 100,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership. The Business Platinum Card® from American Express: Earn 150,000 Membership Rewards® points after you spend $20,000 on eligible purchases on your Business Platinum Card® within the first 3 months of Card Membership. Capital One Venture X Rewards Credit Card: 75,000 bonus miles once you spend $4,000 on purchases within 3 months of account opening. Capital One Venture Rewards Credit Card: 75,000 bonus miles once you spend $4,000 on purchases within 3 months of account opening. After searching on the Air France website, I located a nonstop Paris CDG to Washington IAD flight on my desired date for 60,000 miles in business class. I then transferred 60,000 Amex Membership Rewards points to my Flying Blue account. The transfer was nearly instant. It's very important to make sure an award seat, at the number of miles you want, is available before transferring points. That's because transfers are not reversible. To be clear, here's what the process looked like: I searched for award availability on and ensured a seat was available at 60,000 miles. I transferred 60,000 Amex points to Flying Blue. Within minutes, the miles posted, and I booked the flight. The fare I booked included two checked bags, access to the Air France business-class lounge at CDG, lie-flat seating, priority boarding, a multicourse French meal and champagne on board. The flight from Paris to Washington, D.C. was operated by a Boeing 777-300ER featuring a 1-2-1 reverse herringbone configuration in business class. This layout gives every passenger direct aisle access and a greater amount of privacy. While this wasn't Air France's newest business-class cabin — you'll find a more recent version on the Airbus A350 and on some 777s — the experience still felt elevated. Besides converting into a fully lie-flat bed, my seat included a plush duvet and pillow. The service, food and beverages stood out as well. From the moment I boarded, the crew was gracious and attentive. I was welcomed with a chilled glass of champagne served in real glassware, followed by a personalized introduction from the flight attendant. Lunch was a highlight too: a multicourse, French-inspired meal that included an amuse-bouche, starter, salad, main course, cheese selection, dessert and warm bread, all paired with a curated selection of French wines. The menu was printed and presented elegantly, and each course was served on fine china with stainless steel cutlery. An amenity kit stocked with Clarins skin care products, a sleep mask and other in-flight essentials was provided after takeoff. Headphones, a large entertainment screen and ample storage rounded out the seat experience. By the time we touched down in Washington, D.C., I felt genuinely rested and refreshed, something I rarely say after a long-haul flight. Even though I didn't use a transfer bonus in this case, Amex and Capital One frequently offer transfer bonuses to Flying Blue, sometimes at up to 25%. That would have lowered your cost in points even more. Regardless of bonus, here are the steps to follow to prep for your own redemption: Sign up for a Flying Blue account. Monitor Flying Blue's monthly Promo Rewards page, which often offers points deals to/from North America. Search for flights to/from your desired destinations, including the vast Air France and KLM network in Europe, which goes well beyond the Paris and Amsterdam hubs. Often, you'll find deals even outside Flying Blue promotions. Remember to confirm award space before transferring points, since transfers from credit card programs like Amex to Flying Blue are instant and can't be reversed. Flying business class across the Atlantic for just 60,000 Amex points and around $500 in taxes was one of the best redemptions I've made all year. There's something especially satisfying about using your points for a lie-flat experience, complete with wine, cheese and lounge access. If you keep an eye on Flying Blue Promo Rewards and transfer bonuses, you might just find yourself sipping champagne at 35,000 feet for even less than the 60,000 points I used. The following FAQs have been answered by CNN Underscored travel editor and credit card expert Kyle Olsen. How much are 60,000 Flying Blue miles worth? How much are 60,000 Flying Blue miles worth? While redemption rates vary, The Points Guy values 60,000 Flying Blue miles at $780. Which credit card points transfer to Flying Blue miles? Which credit card points transfer to Flying Blue miles? You can transfer points from the following points currencies to Flying Blue at a 1:1 ratio: American Express Membership Rewards Bilt Rewards Capital One Miles Chase Ultimate Rewards Citi ThankYou Rewards Wells Fargo Rewards What airlines can I use Capital One miles on? What airlines can I use Capital One miles on? You can use Capital One miles in the Capital One travel portal on most major airlines or transfer Capital One miles to 18 airline programs — mostly at a 1:1 ratio — to book award flights with major alliances. Aeromexico, Air France-KLM, Virgin Red: 1:1 (SkyTeam) Air Canada, Avianca, Singapore Airlines, TAP Air Portugal, Turkish Airlines, EVA Air: mostly 1:1 (Star Alliance) British Airways, Cathay Pacific, Finnair, Qantas: 1:1 (Oneworld) Emirates, Etihad, JetBlue: varies, not in alliances CNN Underscored's travel and credit card coverage is built on firsthand experience. This guide was written by travel editor Kyle Olsen, who used these exact strategies to book a real flight. From Paris to DC, this redemption proves that with the right tools and timing, luxury travel is within reach. Click here for rates and fees of the American Express Gold card. Click here for rates and fees of the American Express Platinum card. Click here for rates and fees of the American Express Business Gold card. Click here for rates and fees of the American Express Business Platinum card. Editorial disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
