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Carlos Tavares, chief executive officer of Stellantis NV, speaks to the media at the Stellantis auto manufacturing plant in Sochaux, France, on Thursday, Oct. 3, 2024. Nathan Laine | Bloomberg | Getty ImagesDETROIT — Automaker Stellantis plans to shutter and sell its large vehicle proving grounds in Arizona at the end of this year, CNBC has learned.The decision is the latest cost-cutting measure by the trans-Atlantic automaker under CEO Carlos Tavares, who has been increasingly under pressure from Wall Street, dealers and the United Auto Workers union amid the company's lagging financial performance, layoffs and overall business decisions.The Arizona Proving Grounds covers 4,000 acres between Phoenix and Las Vegas in Yucca, Arizona. It has been used for vehicle testing and development for ...

Earnings next week will be key to where stocks head from here. There will be a significant jump in the number of companies set to report third-quarter results in the days ahead. While roughly one-tenth of S & P 500 companies reported over the past week, about 20% of the broader index plans to report next week. Among the more notable names will be Amazon and Tesla , which will serve as precursors to the big slate of mega-cap results due out the following week. .SPX 5D mountain S & P 500 over five days With the macroeconomic calendar light on major catalysts next week, as well as a general lull expected in anticipation of the U.S. presidential election next month, the earnings results should be the main factor determining whether stocks, which are trading near all-time highs, can go ...

Republican presidential nominee, former U.S. President Donald Trump, addresses the media as he arrives at Detroit Metropolitan Wayne County Airport on October 18, 2024, in Detroit, Michigan. Win Mcnamee | Getty ImagesDonald Trump on Friday dismissed more questions about whether he would release his current medical records, doubling down on refusing to provide a health update even as Kamala Harris works to sow doubts about his fitness for the presidency.The 78-year-old Republican nominee, when asked if he will release his health records, suggested that he has already shared enough information about his medical status."Yeah, my health records – I've done five exams over the last four years. You've got them all," Trump told a reporter on an airport tarmac after landing in Detroit, Michigan, o...

After a siding with the bulls in the run-up to Netflix's latest earnings report, CNBC's Jim Cramer explained why the quarter made him more optimistic about the company's future, saying he was impressed by management's outlook and commentary about content."If you were worried about Netflix not having enough levers to pull in order to generate growth going forward, or at least enough growth to justify the stock's price-to-earnings multiple, I think those concerns have been put to bed by last night's earnings report," he said. "Near-term, the Netflix bears will hibernate, but just remember all these positives when they inevitably come out of their den and try to maul this best-of-breed company with a stock that I think can rock on higher for a long time."Netflix beat Wall Street's expectation...

The U.S. Treasury building in Washington, D.C., on Aug. 15, 2023.Nathan Howard | Bloomberg | Getty ImagesThe Biden administration rang up a budget deficit topping $1.8 trillion in fiscal 2024, up more than 8% from the previous year and the third highest on record, the Treasury Department said Friday.Even with a modest surplus in September, the shortfall totaled $1.833 trillion, $138 billion higher than a year ago. The only years the U.S. has seen a great deficit were 2020 and 2021 when the government poured trillions into spending associated with the Covid-19 pandemic.The deficit came despite record receipts of $4.9 trillion, which fell well short of outlays of $6.75 trillion.Government debt has swelled to $35.7 trillion, an increase of $2.3 trillion from the end of fiscal 2023.One aggrava...