CNBC Daily Open: Elon Musk proves returning to the office has its benefits
Studies regarding the benefits of return-to-office mandates have been mixed. Some find that hybrid workers are as productive as on-site ones, while others conclude that in-person work cultivates mentorship and training.
In some cases, however, the results of being physically in the office are unequivocal. Tesla CEO Elon Musk said on X that he would be "spending 24/7 at work and sleeping in conference/server/factory rooms." Investors appeared glad that Musk would be pivoting away from his involvement in politics to refocus on his companies, pushing up shares of the electric vehicle company nearly 7% Tuesday.
Other tech stocks, such as AMD, Apple and Microsoft, also climbed, juiced by positive developments on the trade front. Apart from U.S. President Donald Trump's Sunday pause on tariffs of 50% on the European Union, U.S. National Economic Council director Kevin Hassett told CNBC's "Squawk Box" Tuesday that "we'll probably see a few more deals even this week."
For the U.S. stock market to sustain its blazing start to the week, investors will be banking on Musk — and U.S. authorities — to continue their in-person work leading companies and negotiating trade deals with countries.
S&P jumps to snap losing streakU.S. stocks popped Tuesday. The S&P 500 soared 2.05% and the Dow Jones Industrial Average gained 1.78%, with both indexes snapping a four-day losing streak. The Nasdaq Composite surged 2.47%. Europe's Stoxx 600 index added 0.33% as U.S. President Donald Trump described the European Union "quickly" scheduling meeting dates with America as a "positive event." Germany's DAX index climbed 0.83% to close at a record.
All eyes on Nvidia's first-quarter earningsNvidia continues to see massive growth from sales of graphics processors. But with the Trump administration's new restrictions on the chipmaker's exports to China — which Nvidia says will cause it to take a $5.5 billion write-down on inventory — the mood heading into the chipmaker's earnings report, out Wednesday, is different than it's been in recent quarters.
Musk will be 'super focused' on workTesla shares jumped nearly 7% after CEO Elon Musk wrote in a post to his social media platform X that he will return to "spending 24/7 at work" and needs to be "super focused" on his companies. Musk's involvement in politics, such as endorsing Germany's far-right AfD Party, has affected Tesla's reputation in Europe, causing April sales on the continent to plunge 49% year on year, according to the European Automobile Manufacturers' Association.
U.S. Steel to be acquired at $55 per shareJapan's Nippon Steel is expected to close its acquisition of U.S. Steel for $55 per share, sources familiar with the matter told CNBC's David Faber. U.S. Steel gained about 2% Tuesday to close at $53.04 per share, and rose more than 20% Friday on the back of Trump's clearance of the deal. The $55 per share bid for U.S. Steel is the offer that Nippon originally made for the company before the deal was blocked in January.
U.S. consumer confidence in May soaredConsumer optimism in the U.S. was much better than expected in May, data from the Conference Board's Consumer Confidence Index showed. May's reading came in at 98.0, far higher than the Dow Jones consensus estimate for 86.0. Much of the positive sentiment, according to board officials, came from developments in the U.S.-China trade impasse. May's rebound followed five straight months of declines.
[PRO] Stocks to be 'rangebound': JPMorganDespite the surge in stocks Tuesday, JPMorgan thinks the S&P 500 could "remain rangebound," with those gains being short-lived because of two reasons. The bank recommends clients to buy call options on this index to hedge against potential downside.
Diamonds are forever? Not with tariffs in the way
They might be made of the hardest material on earth, but diamonds, with their complex supply chains and expensive price tag, are particularly fragile to U.S. President Donald Trump's aggressive tariff agenda.
The precious mineral is facing a baseline 10% import duty to the U.S. — a market accounting for over half of the global demand for polished diamonds. The sector is also bracing for additional duties should Trump's 90-day pause come to an end with no new agreements.
"It's very clear that the diamond industry, on a global level, has been facing a perfect storm of challenges," Karen Rentmeesters, chief executive of the Antwerp World Diamond Centre told CNBC, adding that tariffs are just "the latest blow."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
11 minutes ago
- Yahoo
Supplement Your Paycheck by Investing in These High-Yield Monthly Dividend Stocks
Realty Income has increased its monthly dividend 130 times since coming public in 1994. SL Green Realty has started increasing its monthly dividend as demand for office space recovers. Healthpeak Properties recently switched to paying monthly dividends. 10 stocks we like better than Realty Income › If you're like most people, you probably wish your paycheck was a bit bigger. That would give you more money to save for a rainy day, invest for retirement, or spend on things you want. There are many ways to supplement your income, most of which require time or money. If you have some extra cash lying around, you can use it to generate passive income. Here are a few high-yielding dividend stocks that make monthly payments, which can help supplement your paycheck. Realty Income (NYSE: O) is one of the most bankable monthly dividend stocks you'll find. The real estate investment trust (REIT) has paid 659 monthly dividends since its formation. The REIT currently pays $0.2685 per share each month, or $3.222 annualized. The company has a nearly 5.8% dividend yield at its recent stock price. At that rate, every $100 invested in the stock would produce about $0.48 of dividend income each month and $5.80 per year. The more money you invest, the more income you collect. The great thing about Realty Income is that it routinely raises its dividend payment. The REIT has increased its dividend 130 times since coming public in 1994, and for the past 110 quarters in a row. The main factor driving Realty Income's steadily rising dividends is acquisitions. The REIT has a strong financial profile, with a low 75% dividend payout ratio, and its balance sheet looks just as good. It's one of only 10 REITs in the S&P 500 with two bond ratings of A3/A- or higher. That gives it the financial flexibility to continue investing in properties including net lease retail, industrial, gaming, and others that generate stable rental income to support its growing dividend. SL Green Realty (NYSE: SLG) is the largest office landlord in Manhattan. While demand for office space has declined since the pandemic, it has been slowly recovering. Demand for high-quality office space has been strongest, which is benefiting SL Green Realty because it owns some of the best office buildings in the City. For example, occupancy across its portfolio was 91.8% at the end of March and should improve to 93.2% by year-end as tenants that recently signed leases move into their space this year. As a result, the office REIT's rental income is starting to grow. That enabled it to raise its dividend for 2025 to a monthly rate of $0.2575 per share, or $3.09 annualized, up from $3.00 last year, giving it a 5.3% dividend yield at its recent share price. SL Green only expects to pay out about 57% of its cash flow in dividends this year. That's enabling it to retain money to invest in new properties. Those new investments position the REIT to grow its rental income, which should support future dividend increases. Healthpeak Properties (NYSE: DOC) is a healthcare REIT. It owns a diversified portfolio of outpatient medical buildings, life science properties, and senior housing communities. This portfolio provides it with steadily growing rental income to support its dividend payment. The REIT just switched to a monthly dividend schedule in April, setting the rate at $0.10167 per share, or $1.22 annualized. That's a 1.7% increase from its dividend payment last year. Healthpeak currently has a 7% dividend yield at its recent share price. The healthcare landlord produces more than enough cash to cover its dividend payment. It also has a solid balance sheet, enough so that Healthpeak Properties estimates it has between $500 million and $1 billion of dry powder to make acquisitions or repurchase its shares. Deploying that capital into accretive opportunities should grow its cash flow per share, which should enable the REIT to continue increasing its monthly dividend in the future. Realty Income, SL Green Realty, and Healthpeak Properties pay monthly dividends. These REITs are in solid positions to continue increasing their high-yielding dividend payments in the future. Buying their shares should supply you with growing streams of passive income to help supplement your monthly paycheck. Before you buy stock in Realty Income, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Realty Income wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $651,761!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $826,263!* Now, it's worth noting Stock Advisor's total average return is 978% — a market-crushing outperformance compared to 170% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Matt DiLallo has positions in Realty Income and SL Green Realty. The Motley Fool has positions in and recommends Realty Income. The Motley Fool recommends Healthpeak Properties. The Motley Fool has a disclosure policy. Supplement Your Paycheck by Investing in These High-Yield Monthly Dividend Stocks was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13 minutes ago
- Yahoo
Analysis-Global economy's 'sugar rush' defies trade drama
By Francesco Canepa FRANKFURT (Reuters) -For all the drama surrounding U.S. President Donald Trump's trade tariffs, the world economy is holding up better than many had expected. The latest data from the United States, China and, to a lesser extent, Europe are showing resilience and the global economy as a whole is still expected to grow modestly this year. This is in part due to U.S. buyers and foreign sellers bringing forward business while many of the import duties unveiled by U.S. President Donald Trump remain suspended. While that effect may prove short-lived, Trump's decision to pause tariffs and some glimpses of progress in trade talks, particularly between the United States and the European Union, have fuelled cautious optimism. "We are seeing a bit of a sugar rush in industry, with manufacturers bringing forward production and trade," said Holger Schmieding, an economist at investment bank Berenberg. "The other thing is that we have evidence that Trump pedalled back on tariffs. The bet in markets and to some extent in the economy is that he barks but doesn't bite." Investment banks and institutions generally expect the United States to avoid a recession this year and the global economy to keep growing. The International Monetary Fund downgraded its global GDP growth forecast by just 0.5 percentage points last month to 2.8%. This is roughly in line with the trend over the past decade and a far cry from the downturns experienced during the COVID-19 pandemic, the 2008 financial crisis or even the turmoil that followed the 9/11 terror attacks in 2001. No one is venturing a prediction on where the trade negotiations will eventually settle, particularly with a U.S. president who sees himself as unstoppable. This week alone, separate U.S. courts first blocked and then reinstated Trump's tariffs - creating a degree of legal uncertainty that will do little to facilitate trade deals between the United States and those threatened with the levies. While the EU celebrated "new impetus" in its trade talks with the United States, negotiations with China were "a bit stalled" according to U.S. Treasury Secretary Scott Bessent. Companies are counting the cost of the ongoing impasse. A Reuters analysis of corporate disclosures shows Trump's trade war had cost companies more than $34 billion in lost sales and higher costs, a toll that is expected to rise as ongoing uncertainty over tariffs paralyses decision making at some of the world's largest companies. Car-makers from Japan's Toyota to Germany's Porsche and Mercedes-Benz are bracing for lower, or lower-than-previously expected profits if they have not given up making predictions altogether, like Volvo Cars and Dutch-based Stellantis. This is likely to result in a hit especially for Japan. The United States is Japan's biggest export destination, accounting for 21 trillion yen ($146.16 billion) worth of goods, with automobiles representing roughly 28% of the total. "While the worst shocks may be over, there's still a lot up in the air," Xingchen Yu, a strategist at UBS's Chief Investment Office, said. "We don't really know what a new normal for tariffs would look like, unfortunately." PAYBACK But so far the global economy has held up pretty well. China's output and exports are resilient as its companies re-route trade to the United States via third countries. Even in Europe, manufacturing activity was at a 33-month high in May, rebounding from a slump induced by more expensive fuel following Russia's invasion of Ukraine. Confidence was also buttressed by the prospect of greater fiscal spending in Germany, a missing ingredient for European growth for the past couple of decades. The robustness of the world economy has surprised even professional forecasters. A measure produced by U.S. bank Citi that tracks the degree to which global economic data has surprised to the upside is now at its highest in more than a year. Some of that strength circles back to the tariffs themselves and the attempts by U.S. households and businesses to front-load purchases to beat anticipated price increases later this year. U.S. imports were up around 30% in March from where they were in October. The risk to the upbeat outlook comes from the expected "payback" of those advance purchases, which are unlikely to be repeated and will mean slower activity - in the U.S. and elsewhere - later. Economists still fear a triple whammy in which the front-loaded boost to the goods sector is unwound while U.S. household purchasing power is squeezed by higher prices and companies put off investment and hiring. At the margin, however, this scenario is starting to appear a little less likely after Trump's pause on tariffs. "The balance has slightly shifted towards more optimism, albeit with uncertainty and volatility," ING's global head of macro Carsten Brzeski said. ($1 = 143.6800 yen) (Additional reporting by Dan Burns in Washington, Claire Fu in Singapore, Ellen Zhang in Beijing and Leika Kihara in Tokyo; Editing by Mark John and Jane Merriman) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNN
13 minutes ago
- CNN
Stocks futures drop as Trump claims China has ‘violated' trade agreement
Stock futures fell Friday after President Donald Trump said China has 'totally violated' its trade agreement with the United States, sending another jolt to markets after a whiplash week of tariff developments. Dow futures were down 100 points, or 0.3%. S&P 500 futures and those tied to the Nasdaq 100 both slid 0.3%. 'The bad news is that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US,' the president posted on social media. 'So much for being Mr. NICE GUY!' Wall Street has been cautious about the next steps in Trump's trade war. Stocks had received a boost this week after the Court of International Trade late Wednesday blocked most of Trump's tariffs on legal grounds, but that rally lost steam as traders bet the White House would aggressively appeal and pursue another legal strategy. A federal appeals court on Thursday paused the CIT's ruling to block Trump's tariffs, leaving the president's massive tariff agenda in limbo as the courts deliberate its legality. 'The stunning, head-spinning, mind-boggling trade fiasco will not be resolved quickly,' said Greg Valiere, chief US policy strategist at AGF Investments, in a note. 'It probably will land in the Supreme Court — and even that may not settle the issue.' Investors on Friday also digested fresh data that showed the Federal Reserve's preferred inflation gauge cooled in April slightly more economists had expected, but also revealed a significant drop in consumer spending. Trump has reignited his trade war in the past week, which has stirred up uncertainty in markets after Wall Street had begun to turn the page on tariff concerns. The S&P 500 has been steadily climbing out of an early April slump instigated by the president's back-and-forth on his 'reciprocal' tariffs. Despite the recent fluctuations, investors who sold at the start of May missed out on a historically strong month for markets. The benchmark index is up more than 6% this month and is on track for its best month since 2023 and its best performance in May since 1990. 'Even though the stock market has staged a decisive rebound since the April lows, there is still plenty of uncertainty on tariffs, especially given the legal battle that is brewing over the 'Liberation Day' tariffs,' said Clark Bellin, president and chief investment officer at Bellwether Wealth. The dollar slightly gained on Friday. Yet the US dollar index, which measures the dollar's strength against six major foreign currencies, is on track to end the month in the red. It would be the dollar's fifth month of decline in a row. 'We expect bouts of market volatility ahead as investors continue to navigate a range of market, economic and geopolitical risks,' said Ulrike Hoffmann-Burchardi, CIO of global equities at UBS Global Wealth Management, in a Thursday note. The benchmark S&P 500 is up about 0.5% this year. This is a developing story and will be updated.
