CNBC TechCheck Evening Edition: June 9, 2025
CNBC's TechCheck brings you the latest in tech news from CNBC's 1 Market in the heart of San Francisco.
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CNBC
2 hours ago
- CNBC
CNBC Daily Open: If U.S.-China talks go well, analysts think the S&P 500 could hit new high
Trade negotiators from the U.S. and China have met in London, and talks are expected to continue Tuesday, a source familiar with the situation told CNBC's Megan Casella. At the top of the agenda for America appears to be a relaxation of China's rare earths export curbs, according to a CNBC interview with U.S. National Economic Council Director Kevin Hassett. If China's actions late last week — when it seemingly gave Western automakers concessions regarding those minerals — are any indication, Beijing could be willing to accede to the U.S. request. But the world's second-biggest economy would demand reciprocity. On June 2, Beijing bristled at Washington's tighter grip on exports of chip design software to China. But it appears that Washington is also in a conciliatory mood. "Our expectation is that … immediately after the handshake, any export controls from the U.S. will be eased," Hassett said on CNBC's "Squawk Box." If the U.S.-China talks go well, there's a chance the S&P 500, only around 2% off its February high as of Tuesday morning Singapore time, could reach a new peak, noted the JPMorgan trading desk. That'd be something to cheer, of course. But it's slightly upsetting to realize that the S&P could have continued scaling heights from February, or at least broken its closing high much earlier in the year, if not for truculent trade policy from the White House — which, as is evident from the meeting between U.S. and China, governments now are still trying to undo. U.S.-China talks set to go into Day 2U.S. President Donald Trump's top trade officials met Chinese counterparts in London on Monday for talks aimed at resolving their trade dispute — particularly with regard to mineral exports. Discussions are set to continue Tuesday. Late last week, in an apparent olive branch, China seemed to offer U.S. and European auto giants something of a reprieve regarding its exports of rare earth elements. Stocks in the U.S. rose marginallyU.S. stocks edged up Monday. The S&P 500 added 0.09%, the Dow Jones Industrial Average was mostly flat, and the Nasdaq Composite rose 0.31%. Europe's Stoxx 600 index dipped 0.07%. Shares of chip designer Alphawave jumped 20% on a takeover by U.S. semiconductor giant Qualcomm, while Spectris soared 60% after confirming it is in talks over a takeover deal with private equity group Advent International. A new 'Liquid Glass' look for Apple's iOSApple held its annual Worldwide Developers Conference keynote on Monday. At the event, the company announced a redesign to its iOS system called "Liquid Glass," a virtual glass look that was inspired by the Vision Pro; real-time translation to calls, texts and FaceTime; new gaming, video and enterprise features for its augmented reality device Vision Pro; a new version of its Mac operating system, named Tahoe. UK in a 'Goldilocks' moment: Nvidia CEO "The U.K. is in a Goldilocks circumstance," Nvidia CEO Jensen Huang said Monday on a panel with British Prime Minister Keir Starmer and Investment Minister Poppy Gustafsson. "You can't do machine learning without a machine — and so the ability to build these AI supercomputers here in the U.K. will naturally attract more startups," Huang said, though he added that the country lacks homegrown AI infrastructure. [PRO] New record for S&P soon?The S&P 500 ticked higher on Monday and continues to chip away at the gap to a new record high. The broad-based index is just 2% below its record close set in February. Several events in the days ahead could prove to be the catalyst that vaults it over the top, according to the JPMorgan trading desk. 'Bitcoin Family' hides crypto codes etched onto metal cards on four continents after recent kidnappings Didi Taihuttu, patriarch of the so-called Bitcoin Family, said he overhauled the family's entire security setup after a wave of high-profile kidnappings targeting cryptocurrency executives. The Taihuttus — who sold everything they owned in 2017, from their house to their shoes, to go all in on bitcoin when it was trading around $900 — have long lived on the outer edge of crypto ideology. They travel full-time with their three daughters and remain entirely unbanked. Over the past eight months, he said, the family ditched hardware wallets in favor of a hybrid system: Part analog, part digital, with seed phrases encrypted, split and stored either through blockchain-based encryption services or hidden across four continents.
Yahoo
4 hours ago
- Yahoo
Steph Curry's Thirty Ink Generates $174 Million In 2024, 'It's About Creating True Representation And Opportunity From A Grassroots Level'
Steph Curry's house-of-brands conglomerate Thirty Ink generated $173.5 million in revenue in 2024, the company told CNBC on Wednesday. Thirty Ink owns Unanimous Media, Gentleman's Cut bourbon, and Underrated Golf and Basketball. However, the highest percentage of the company's revenue comes from Curry's partnership with Under Armour (NYSE:UAA, UA)). There, the NBA star is president of Curry Brand, a basketball and golf footwear and apparel line. As a part of the 2023 deal with the sportswear company, Curry was given 8.8 million common shares, which were valued at $75 million at the time. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Maximize saving for your retirement and cut down on taxes: . The company said that while it incurs annual expenses for using Curry's name, image, and likeness, it doesn't rack up traditional bottom-line operational costs, which allows for its exorbitant earnings. Thirty Ink's secretary chair, Suresh Singh, told CNBC that every brand under the company's umbrella is profitable. "It's completely unique. One of the big things, I believe, is that there's a lot of athlete- and celebrity-driven partnerships and businesses that aren't necessarily focused on profit, aren't necessarily focused on mission. We do both," he said. "Obviously, from a national perspective, a lot of the narrative is trying to peel back programs and opportunities that are programs and resources that are allowing people to have just a fair shot and a fair chance," Curry said in an interview with CNBC. "Everything that we do and what I can control is about true equity. If you look at all of our businesses — our DEI writers for Unanimous, or even looking at something like the Underrated brand — it's about creating true representation and opportunity from a grassroots level." Trending: Wall Street's Missing This AI Surgical Tech — You Don't Have To. "All that stuff is important to me. I want to actually walk the walk and live it. And hopefully that's an example for how our country should," he told CNBC. Thirty Ink's mission is to "elevate the under" according to its website, a goal that manifests differently for every brand. Unanimous Media co-founder and co-CEO Eric Peyton told CNBC that it looks like hiring diverse writers to create projects about family, faith and sports. "[Curry's] vision is to inspire through media," he said. It's really a feeling when you watch our projects, hopefully you're a little bit happier, you know, maybe it makes you feel a little bit better." Unanimous Media is currently four years into a first-look deal with Comcast's (NASDAQ:CMCSA) NBC Universal unit. Next year, it will release its first full-length feature film, "GOAT," with Sony Pictures Animation. With Gentlemen's Cut and Underrated Golf and Basketball, that mission expresses itself as a commitment to DEI. Gentlemen's Cut was in talks with a buyer who wanted to feature Black-owned businesses, in 2024. The Trump administration's crackdown on DEI squashed the deal, but it would have valued the business between $120 million and $200 million, a source told CNBC. Underrated Golf, according to the company's website, is specifically designed to give Black children an opportunity to participate in a sport that hasn't historically catered to them. Read Next: Invest where it hurts — and help millions heal:. Here's what Americans think you need to be considered wealthy. Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? COMCAST (CMCSA): Free Stock Analysis Report This article Steph Curry's Thirty Ink Generates $174 Million In 2024, 'It's About Creating True Representation And Opportunity From A Grassroots Level' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
CNBC
4 hours ago
- CNBC
Jim Cramer says Circle Internet stock is 'too hot' to buy up here
CNBC's Jim Cramer on Monday examined Circle Internet, a stablecoin issuer that made a splash during its market debut last week, saying he'd wait to buy the stock until it has retreated from recent highs. "Circle Internet Group's a solid company, but the stock, right now, has gotten too hot for me. I can't recommend it up here," he said. "Why don't you let it cool off before you even think about pulling the trigger." Circle Internet founded USDC, a dollar-pegged stablecoin meant to act as fiat money on the internet. USDC is the second-largest stablecoin on the market behind Tether's USDT. The stock opened at $69 last Thursday after being priced at $31, and shares soared 168% during the session. Cramer likened stablecoins to casino chips in the crypto currency space, explaining that they can be used to buy other cyrpto currencies like Bitcoin and Ethereum, but retain their value. According to Cramer, Circle Internet's stablecoin business is more transparent than that of Tether, saying it's unclear what the latter is doing with its reserves. USDC, however, is backed by genuine reserves of fiat currency, with Cramer calling it "a more sanitized, less-sketchy version of the stablecoin concept." He was also impressed with Circle Internet's financials, saying it seems business is good and USDC is popular. But it's hard to justify buying shares when the company's valuation has swelled dramatically, from $5.5 billion to around $25 billion in a matter of weeks, Cramer said. Plus, he continued, the company is still linked to the ever-volatile crypto ecosystem, telling investors they'll "get a better buying opportunity simply by being patient." Cramer warned that the IPO market in general is "starting to get a little crazy here," pointing to CoreWeave, an artificial intelligence infrastructure outfit that went public in March. The Nvidia-backed company was the biggest tech IPO in the U.S. since 2021, and it closed flat at $40 after its first day of trading. But now the stock trades at about $162, which Cramer said he finds to be a little extreme. "This is the type of action that gets people hurt, so I need you to be a little careful." Circle Internet and Tether did not immediately respond to request for comment. Click here to download Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest
