Stock futures tick higher on Tuesday morning: Live updates – CNBC

50 Mins Ago

Japan, U.S. announce trade deal on EV battery minerals

The U.S. and Japan announced a trade deal on electric vehicle battery minerals that would grant Japanese automakers access to the Biden administration’s $7,500 EV tax credit scheme as part of the Inflation Reduction Act.

The announcement added that the two countries share a common interested in raising “resilience against threats such as economic coercion and non-market policies.”

The IRA states plug-in electric vehicles much be produced in North America to qualify for the tax incentives.

“This is a welcome moment as the United States continues to work with our allies and partners to strengthen supply chains for critical minerals, including through the Inflation Reduction Act,” U.S. Trade Representative Katherine Tai said in a statement.

She added that the announcement is “proof” of the U.S. government’s “commitment to building resilient and secure supply chains.”

South Korean officials have also been engaging in discussions to adjust regulations to work around the eliminated tax credits for EVs made outside of North America.

– Jihye Lee, Michael Wayland

4 Hours Ago

Asia-Pacific financials, banks rise as SVB deal offers relief on Wall Street

3 Hours Ago

Bitcoin, ether fall after Binance’s founder named in U.S. complaint

Prices of bitcoin and ether fell roughly 3% in Asia’s morning trade, according to Coin Metrics – after U.S. officials filed a complaint against crypto exchange Binance and its co-founder Changpeng Zhao.

The filing alleged that the firm actively solicited U.S. users and subverted the exchanges own “ineffective compliance program.”

Bitcoin fell 3.09% in the past 24 hours, according to Coin Metrics, and traded at $27,003 – while ether also fell 2.95% to $1,712.

Bitcoin is up roughly 63% quarter-to-date and on pace to mark the best quarter since the first quarter of 2021, when bitcoin gained 103.73%. It is also on pace to see the third consecutive month of gains.

Ether is also up 41.3% quarter-to-date and on pace for the best quarter since the first quarter of 2021, when the cryptocurrency gained over 150%.

– Rohan Goswami, Gina Francolla, Jihye Lee

7 Hours Ago

PVH shares pop on earnings

Shares of the Calvin Klein owner jumped more than 12% after the bell on a strong earnings report.

PVH Corp. topped earnings expectations by 71 cents a share, while revenue came in a $2.49 billion and above a Refinitiv estimate of $2.37 billion.

The retail company also shares better-than-expected guidance for the first quarter and full year.

See Chart…

PVH shares jump on earnings

7 Hours Ago

Yale’s Robert Shiller says home prices might get a ‘little cheaper’ after six months

Robert J. Shiller, the economics professor at Yale University and co-founder of the Case-Shiller Index, said home prices might start to come down later this year.

“Home prices are very, very high,” Shiller said Monday on CNBC’s “Closing Bell: Overtime.”

“I’m going to extrapolate the downturn somewhat is going to continue. Maybe if you have a chance to delay your purchase, it might be a good, good time to do it. It might get a little cheaper after another six months,” Shiller added.

— Sarah Min

7 Hours Ago

Lyft shares rise as company announces new CEO, cofounders step down

Lyft shares gained nearly 4% in extended trading after the ridesharing company announced a new CEO and said its cofounders would step down from their current positions.

Former Amazon executive David Risher will begin as CEO on April 17 as Logan Green steps down from the position to serve as chair on the board. John Zimmer will serve as vice chair on the board, transitioning out of his president role on June 30.

See Chart…

Lyft shares move as company names new CEO

— Samantha Subin, Rohan Goswami

7 Hours Ago

Stock futures inch higher


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