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Bank stocks have popped since President-elect Donald Trump's win, but their move eight years ago suggests this rally still has more upside. Wells Fargo strategy analyst Christopher Harvey published a note Friday examining how different sectors performed after Trump's win in 2016 relative to their rally in the 7 trading days following the most recent election. The data shows that financial stocks, while already one of the best performers this year, did even better in 2016. Drilling down to bank stocks, specifically, within financials still shows that the group could have room to run. In 2016, bank stocks outperformed by 11.5 percentage points, compared to 6.9 points this year, according to the note. Bank stocks have seen big moves since Trump's win, as investors react to the expectation of ...

Billionaire investor Ron Baron, a longtime Tesla bull and shareholder, believes the electric vehicle company could hit a $5 trillion market capitalization in a decade, saying CEO Elon Musk has an even higher number in mind longer term. "Tesla, I think, is going to be worth $3 or $4 trillion — $5 trillion in 10 years, based upon the business plan that I am aware of. Then Elon believes that longer term it's going to be worth $30 trillion," Baron said on CNBC's " Squawk Box " Friday. At $3.65 trillion, Nvidia had the largest market value in the U.S. as of Thursday's market close, bigger than Apple and Microsoft , according to FactSet data. Tesla closed Thursday with a market cap of $1.12 trillion. Baron first invested $400 million in Tesla between 2014 and 2016, and said the early bet has mad...

Check out the companies making headlines before the bell. Applied Materials — Shares tumbled more than 8% after the semiconductor equipment manufacturer offered weak revenue guidance for the current quarter. Applied Materials said it forecasts $7.15 billion in the first fiscal quarter, under the estimate of $7.224 billion from analysts polled by LSEG. The company also reported better-than-expected fiscal fourth-quarter results and provided a strong outlook for adjusted earnings per share. Alibaba — S hares jumped more than 3% after the Chinese e-commerce giant beat profit expectations in its fiscal second quarter , although its sales disappointed as the company continues to grapple with weaker consumer spending in China. Alibaba's net income rose 58% year-on-year, on the back of its equity...

Here are five key things investors need to know to start the trading day:1. Still room to run?2. Powell pondersFederal Reserve Chair Jerome Powell delivers remarks in Dallas on Nov. 14, 2024.Ann Saphir | ReutersJerome Powell is taking his time. The Federal Reserve chair said in a speech to business leaders in Dallas on Thursday that the central bank doesn’t need to be "in a hurry" to reduce interest rates. He said strong U.S. economic growth means policymakers can take their time in deciding how far and how fast they should lower rates. He also noted that the unemployment rate has been rising but remains low by historical standards and that inflation has been running closer to the Fed's 2% goal.3. Vaccine makers fallRobert F. Kennedy Jr. and Republican presidential nominee and former U.S. ...

A logo of Taiwan Semiconductor Manufacturing Company (TSMC) is seen during the TSMC global RnD Center opening ceremony in Hsinchu on July 28, 2023. (Photo by Amber Wang / AFP)Amber Wang | Afp | Getty ImagesThe U.S. Commerce Department said Friday it has finalized a $6.6 billion government subsidy for Taiwan Semiconductor Manufacturing Co's U.S. unit for semiconductor production in Phoenix, Arizona.The binding contract — after a preliminary agreement announced in April — is the first major award to be completed under the $52.7 billion program created in 2022.It comes just weeks before President-elect Donald Trump, who criticized the program, takes office.In April, TSMC agreed to expand its planned investment by $25 billion to $65 billion and to add a third Arizona fab by 2030.The Taiwanese ...

Upping your exposure to Chinese stocks is worth the risk.That's the view of Caroline Cai, CEO of U.S.-based Pzena Investment Management. "This is really for the first time in the last seven, eight years where we think you're getting paid to expose yourself to China," Cai told "CNBC Squawk Box Asia" this week.The investment firm has ramped up its exposure to Chinese equities in the last two years. For Cai, the opportunities in China are exciting."It's not because we have a particularly positive view on longer term Chinese macro, we kind of think things are pretty challenging. What we're attracted to is the extreme valuation that we're seeing in China, where people are basically saying there's no price at which you can entice me to invest in China," she said."Our view is, if the risk is obvi...

The latest obsession on TikTok is the "Winter Arc" challenge, which sees young people get ahead of their New Year's Resolutions.Winter Arc TikTok is flooded with videos of young men and women wearing dark-colored oversized hoodies and athleisure, working out in the gym, or going for early-morning runs."These are the months where a lot of people tend to slow down … this is the time where people tend to let their foot off the gas," says one TikToker, Carly Upgraded, in a video with 4.6 million views.Carly says the Winter Arc is all about being "laser-focused" on your goals, so that you're transformed by the new year. Her goals include waking up at 5:30 a.m., having a workout and meal plan, reading books, and even posting more content on TikTok.Despite its recent popularity, the now-viral tre...

Jure Susac, a Bosnian olive farmer from the western-Herzegovinian town of Ljubuski, delivers his pickings to an oil-mill in Capljina, during harvest season, on October 29, 2022.Elvis Barukcic | Afp | Getty ImagesSpain's Deoleo, the world's largest olive oil producer, says one of the most challenging moments in the industry's history appears to be drawing to a close, with "liquid gold" prices expected to nearly halve from an all-time high over the coming months.A prolonged period of climate-fueled extreme weather and drought in southern Europe has severely impacted olive harvests in recent years, culminating in a dizzying price rally that shocked industry veterans and consumers alike.The shortage of olive oil, a superfood staple of the Mediterranean diet, pushed the industry into crisis mod...