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West Bengal CM Mamata Banerjee launched a sit-in protest, accusing the BJP and Election Commission of a conspiracy to disenfranchise voters by removing genuine names from electoral rolls. She highlighted instances of living individuals being declared dead, vowing to expose the alleged plot ahead of the EC's visit and upcoming assembly polls. View More

The average IRS tax refund is up 10.6%, based on early filing data. Here's what you can expect. View More

In this articleIRSFollow your favorite stocksCREATE FREE ACCOUNT Tony Anderson | Digitalvision | Getty Images The average tax refund is 10.6% higher so far this season, compared to roughly the same period in 2025, according to the latest IRS filing data.As of Feb. 27, the average refund amount for individual filers was $3,742, up from $3,382 about one year ago, the IRS reported on Friday. The average is down from the $3,804 reported last week. Typically, the average refund spikes around mid-February, once data includes payments claiming the earned income tax credit or the refundable part of the child tax credit, known as the additional child tax credit or ACTC, according to a Bipartisan Policy Center analysis. After the February peak, the average generally declines gradually through Tax Day. The latest filing data reflects roughly 51.5 million individual returns received, out of about 164 million expected through the April 15 deadline. Read more CNBC personal finance coverageAverage IRS tax refund is up 10.6%, early filing data showsGOP 'big beautiful bill' to deal 'shock' to the ACA marketplace: health expertsAs millions claim Trump's 'no tax on overtime' deduction, filers risk mistakesS&P 500 shrugs off 1% daily drops all the time. Investors can too, advisors sayWhere investors can look for stability as the Iran war rattles marketsWhat the Iran war market turmoil means for those nearing retirementMusk says Grok can help with your taxes. What experts say about AI and tax prepNew bill would update anti-poverty program, 'a critical lifeline': WarrenThere's a push to cut capital gains taxes on home sales to add supply for buyersIran war and your portfolio: Historical stock market patterns investors should knowTrump says '401(k)s are way up' — but workers are tapping them at record ratesAI, layoffs spur workers to want a career change, survey finds — but few may do itPoor coordination can cost couples an average $14,000 in retirement wealthGold price jumps on Middle East turmoil. What to know before investingWhat student loan borrowers need to know about judge's ruling on SAVE planCNBC's Financial Advisor 100: Best financial advisors, top firms ranked As the midterm elections approach, Republicans have been laser-focused on the size of tax refunds this season, with many pointing to the changes enacted via President Donald Trump's "big beautiful bill." In a late January release, the White House said average tax refunds could jump "by $1,000 or more," citing several media reports that reference early October research from investment bank Piper Sandler.  Why tax refunds could be bigger this season Four of Trump's new tax breaks — the deductions for tip income, overtime, seniors and auto loan interest — go on a new form, known as Schedule 1-A, which is part of individual tax returns. As of March 4, some 43% of returns included Schedule 1-A, and refunds for those filings were $775 bigger than the typical refund last year, Frank Bisignano, Social Security Administration commissioner and IRS CEO, said this week during a House Ways and Means Committee hearing. Trump's bigger deduction limit for state and local taxes, known as SALT, could also boost refunds for eligible filers who itemize tax breaks, experts say. Some of the smaller changes include a bigger standard deduction and more generous child tax credit for 2025. However, tax refunds or balances due also vary based on workers' paycheck withholdings, or other payments made throughout the year, experts say. "What I'm running into is [the changes are] providing hundreds of dollars of difference, not thousands of dollars," Tom O'Saben, director of tax content and government relations at the National Association of Tax Professionals, told CNBC. watch nowVIDEO4:0804:08Trump tax laws to produce higher refunds in 2026Personal Finance Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

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The GOP's "big beautiful bill" made administrative tweaks expected to reduce enrollment in the Affordable Care Act marketplace by millions of people. View More

J. David Ake | Getty Images News | Getty Images A series of policy changes in the so-called "big beautiful bill" are undermining the Affordable Care Act marketplace, in ways that may at first seem relatively subtle but which add up to a major change, health policy experts say. That, in turn, has important implications for consumers and the broader health care system for years to come, they said.The law — a multitrillion-dollar package that the Republican-led Congress passed in July — contains a series of administrative measures that make it harder or more expensive for many people to sign up for health insurance on the ACA marketplace, experts said. Those policies concerning the marketplace would add about 3 million people to the ranks of the uninsured over the next decade, the Congressional Budget Office estimated in September. Among them: ending automatic insurance renewals, removing certain financial protections for lower earners, tweaking annual enrollment periods, and barring many immigrants in the country legally from signing up for ACA marketplace insurance or accessing financial aid. watch nowVIDEO5:0405:04Americans drop health care insurance coverage as premiums surgeMarkets and Politics Digital Original Video However, the administrative maneuvers — many of which are technical in nature and, on their face, may not seem consequential — have largely gone unnoticed by the public, experts said. "A lot of things that are happening are kind of under the radar," said Jonathan Oberlander, a professor at the University of North Carolina and an expert in health-care politics and policy. "I'd describe the strategy as one of partial stealth," he said. Other parts of the law — like more than $1 trillion of cuts to Medicaid, the public health program for lower earners — have garnered the bulk of public attention, experts said. Read more CNBC personal finance coverageAverage IRS tax refund is up 10.6%, early filing data showsGOP 'big beautiful bill' to deal 'shock' to the ACA marketplace: health expertsAs millions claim Trump's 'no tax on overtime' deduction, filers risk mistakesS&P 500 shrugs off 1% daily drops all the time. Investors can too, advisors sayWhere investors can look for stability as the Iran war rattles marketsWhat the Iran war market turmoil means for those nearing retirementMusk says Grok can help with your taxes. What experts say about AI and tax prepNew bill would update anti-poverty program, 'a critical lifeline': WarrenThere's a push to cut capital gains taxes on home sales to add supply for buyersIran war and your portfolio: Historical stock market patterns investors should knowTrump says '401(k)s are way up' — but workers are tapping them at record ratesAI, layoffs spur workers to want a career change, survey finds — but few may do itPoor coordination can cost couples an average $14,000 in retirement wealthGold price jumps on Middle East turmoil. What to know before investingWhat student loan borrowers need to know about judge's ruling on SAVE planCNBC's Financial Advisor 100: Best financial advisors, top firms ranked The law also didn't extend enhanced ACA subsidies, which were scheduled to lapse at the end of 2025. The issue ultimately became high-profile, leading to a record-long government shutdown in the fall, and GOP lawmakers in the Senate ultimately voted against an extension. "A lot of people have heard about the subsidy cuts, but I don't think a lot of people understand the magnitude of what we're facing in the [ACA] marketplace with all these changes," Oberlander said. "We're talking about a shock to the marketplace," he said. Largest rollback of health insurance coverage Kevin Lamarque | Reuters The Affordable Care Act, also known as Obamacare, established a health insurance marketplace where Americans could shop for private health plans. The law, passed in 2010, also created premium tax credits and other assistance to make coverage more affordable for certain enrollees, and expanded access to Medicaid. ACA marketplace enrollees are often small business owners, gig workers, freelancers and others who can't get health insurance elsewhere, such as via Medicaid, Medicare or coverage through an employer. Obamacare helped drive down the U.S. uninsured rate to record lows in recent years, experts said. watch nowVIDEO4:2204:22Dr. Vin Gupta on how the expiration of enhanced ACA subsidies will affect AmericansMoney Movers However, health provisions in the "big beautiful bill" amount to the largest rollback of health insurance coverage in U.S. history, Oberlander said.The share of the U.S. population without health insurance is expected to swell from 7.6% in 2025 to 10.4% by the end of the decade, according to the CBO. Total enrollment in ACA marketplace health plans is expected to fall to 12.5 million by 2028, the CBO estimated in February. That would be about half of last year's enrollment and represent a near-erasure of all gains in marketplace sign-ups since 2021, when the enhanced subsidies took effect. window.addEventListener("message",function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}); There are many potential downstream effects of this dynamic, according to health experts.Millions of Americans becoming uninsured pose a serious financial risk to affected households, they said. Millions more will shift to plans with higher deductibles, reducing upfront premiums but leaving them exposed to big medical bills if they need to use their insurance. I'd describe the strategy as one of partial stealth.Jonathan Oberlanderprofessor at the University of North Carolina There are also implications for the health care system at large. Hospitals with higher uninsured populations would likely face financial pressures, in turn impacting everyone who goes to the hospital by reducing resources available to treat people, Oberlander said."When individuals lose health insurance coverage, they ultimately turn to their local hospital when they need care," the American Hospital Association wrote in June. "This affects everyone, not only the uninsured, leading to overcrowded emergency departments, longer wait times and increased costs for care, which acts as a 'hidden tax' on all." 'Repeal and replace,' by a different name The late Sen. John McCain (R-AZ) leaves the Senate Chamber after a vote on a stripped-down, or 'Skinny Repeal,' version of Obamacare reform on July 28, 2017 in Washington, DC. McCain was one of three Republican Senators to vote against the measure. Zach Gibson | Getty Images News | Getty Images Republicans have tried to dismantle the Affordable Care Act for years, partly due to ideological differences in health policy and increased partisan polarization, experts said. Indeed, the ACA was passed into law in 2010 without a single Republican vote.Health policy experts said the administrative policies in the "big beautiful bill" that aim to cripple the ACA amount to a less flashy version of "repeal and replace." The term refers to previous Republican efforts to scrap large parts of the ACA and replace it with something new. The GOP came close to fulfilling that goal during President Donald Trump's first term in office. However, the late Republican Sen. John McCain of Arizona cast a decisive thumbs-down vote in the Senate in 2017, scuttling legislation to repeal the health law. President Trump has often said he dislikes the Affordable Care Act. "The best thing we can do, politically speaking, is let Obamacare explode," he said in the White House in March 2017. "We'll end up with a truly great health care bill in the future after this mess known as Obamacare explodes," he added. In October 2017, a few months after the effort to repeal the ACA failed in the Senate, he wrote on social media site X that "ObamaCare is a broken mess." "Piece by piece we will now begin the process of giving America the great HealthCare it deserves!" he wrote.Trump and congressional Republicans have said the ACA has contributed to rising costs for health care, such as insurance premiums. There is some debate on this point, though, and some experts point to other contributors to rising costs, such as consolidation among health care providers and physician billing practices. window.addEventListener("message",function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}); Policies in the "big beautiful bill" — including cuts to Medicaid — and the expiration of enhanced premium tax credits will lead about 15 million people to lose health insurance, the CBO estimated in June when scoring the impact of the legislation."[That's] not far outside the scope of what some of the repeal-and-replace plans from 2017 would have done," said Cynthia Cox, director of the Affordable Care Act program at KFF, a nonpartisan health policy research group. Separately, new rules proposed by the Trump administration in February would further decrease ACA marketplace enrollment by up to 2 million people in 2027, the U.S. Department for Health and Human Service estimated. If adopted, the rules would, among other things, expand access to so-called catastrophic plans with even higher out-of-pocket costs, defray certain state-mandated benefits and add "burdensome" verification requirements for enrollees, according to Katie Keith, director of the Center for Health Policy and the Law at Georgetown University Law Center's O'Neill Institute. Most Americans like ACA, making repeal difficult In general, Republicans and Democrats fundamentally disagree on the role of government in health care policy. Democrats believe the government should be active and take steps toward giving all Americans access to health insurance, while Republicans tend to favor a more limited government role and view universal coverage as not a priority, experts said. GOP rancor toward the ACA is also fueled in part by partisan hostility, Oberlander said. Resisting Democrats and the expansion of the federal government has become a rallying cry for the party, he said. watch nowVIDEO9:1609:16Sen. Pete Ricketts on health care: Republicans want to empower people by giving them the moneySquawk Box However, Obamacare popularity has increased gradually since its inception. Now, most Americans — 58% — have a favorable view of the law, according to KFF, which has tracked public opinion since 2010. Ironically, public opinion started to shift in the ACA's favor after repeal-and-replace measures failed in Congress around 2017, said KFF's Cox. Current popularity makes it more politically challenging to repeal the law outright, experts said. Rep. Mariannette Miller-Meeks (R-IA), from left, House Speaker Mike Johnson (R-LA), Rep. Tom Emmer (R-MN), Rep. Steve Scalise (R-LA), and Rep. Lisa McClain (R-MI), during a news conference on Dec. 16, 2025. Johnson will block a push by moderate House Republicans for a vote on renewing expiring Obamacare subsidies, quashing a last-ditch effort to head off a spike in insurance premiums.Bloomberg | Bloomberg | Getty Images The GOP's political calculus appears to be that by making Obamacare work less efficiently, Americans will become frustrated with the law, giving lawmakers political cover to eventually replace it, said Casey Burgat, director of the legislative affairs program at The George Washington University's Graduate School of Political Management."Most of it has to do with making things harder administratively," Burgat said. "The nerds call it administrative attrition."And, many people won't know it was the GOP who made it harder, he said. It's a similar dynamic to certain voter registration rules, he said: Adding more administrative hurdles pushes people off the voter registration rolls, Burgat said. ACA policies in the big beautiful bill An Obamacare sign at a Miami insurance agency on Nov. 12, 2025.Joe Raedle | Getty Images Republicans also said some of the policy changes in the "big beautiful bill" are due to concerns about waste, fraud and abuse. The Paragon Health Institute, a conservative health policy think tank, in May wrote that the measures were "commonsense program integrity provisions" to reduce fraud and spending, and said they would cut back on the "Biden administration's approach of maximizing enrollment at any cost."Some health experts have said that, while there has been evidence of fraud, the concerns have been exaggerated. "Fraud should be addressed," said Cox of KFF. "But this [law] doesn't just address fraud. It also makes it more difficult for 20 million-some [ACA enrollees] to keep it from year to year."Here are some of the significant changes, according to experts.Prohibits auto-renewalAmong the more consequential changes is the effective end of automatic re-enrollment into one's existing ACA marketplace health insurance plan, due to the addition of certain verification requirements — around factors like household income, place of residence and family size — before enrolling, Cox said.Previously, households with existing coverage who didn't act during open enrollment were auto-renewed into the same plan or a similar one for the coming year. Nearly half of enrollees auto-renewed in 2025, according to KFF.Excess subsidies must be repaid in fullThe bill would eliminate repayment caps for premium subsidies, known as premium tax credits. Most households that receive these federal tax credits opt to get them ahead of tax season. Recipients pay lower health insurance premiums on a monthly basis due to this advance premium tax credit. Most of it has to do with making things harder administratively.Casey Burgatdirector of the legislative affairs program at The George Washington University's Graduate School of Political Management However, the tax credit amount is based on household income. Households estimate their annual income for the coming year, which dictates their total premium tax credit. They must repay excess subsidies during tax season, if their annual income ends up being larger than they'd initially estimated. Previously, there was a cap on how much money certain households would have to repay, on a sliding scale based on income, in order to avoid a financial shock during tax season. Now, all excess subsidies will have to be repaid in full, no matter a household's income.This provision took effect for tax year 2026, meaning people will experience it when they file their taxes in 2027.Changes to enrollment periods The healthcare.gov website on a laptop arranged in Norfolk, Virginia, US, on Saturday, Nov. 1, 2025. Stefani Reynolds | Bloomberg | Getty Images The law shortens the annual enrollment period for ACA marketplace coverage. Previously, enrollment ran from Nov. 1 to Jan. 15. That enrollment window ends Dec. 15 — or, one month earlier — in all states. In 2025, roughly 40% of enrollees enrolled after Dec. 15, according to the AHA.Additionally, lower-income households — who made up nearly half of ACA enrollees in 2025, according to KFF — had been eligible to sign up for coverage year-round during so-called "special enrollment periods." They were also eligible for financial aid like premium tax credits. Now, such households are barred from receiving that financial assistance if they sign up during an income-based special enrollment period, according to KFF.Curtails use by legal immigrantsThe law denies marketplace insurance eligibility for many groups of legal immigrants, experts said.Starting Jan. 1, 2027, many immigrants who are in the country legally — such as refugees, asylees and people with Temporary Protected Status will be ineligible for subsidized insurance on ACA exchanges, according to KFF.Previously, U.S. citizens and immigrants legally in the U.S. were eligible to enroll in an ACA marketplace health plan and get financial assistance like premium subsidies. watch nowVIDEO3:0703:07Ken Griffin: Immigration policy is 'absolutely' playing out in labor marketMoney Movers Now, that financial assistance will only be available to those with green cards, in addition to: migrants who are in the U.S. via a Compact of Free Association, which include citizens of three Pacific island nations (the Marshall Islands, Palau and Micronesia); and Cuban and Haitian entrants as defined in section 501(e) of the Refugee Education Assistance Act of 1980, according to KFF."Without ACA subsidies, most immigrant enrollees will discontinue their coverage," according to the American Medical Association. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Economist Heather Long says the U.S. economy is diverging into three tiers of consumer behavior instead of two, amid an ongoing affordability crisis. View More

It's difficult to describe the U.S. economy in black and white terms like "good" or "bad." On several fronts, the data says the economy is healthy. But surveys show American consumers don't feel that way."There's no doubt right now that different data can show slightly different narratives," says Heather Long, chief economist at Navy Federal Credit Union.Depending on which measure you look at, inflation is falling or staying flat in recent months, Long points out. The consumer price index has dropped from its 9% peak in June 2022 and hovered around 3% since June 2023, according to U.S. Bureau of Labor Statistics data. Personal consumption expenditures has remained relatively flat for the last year, coming in at 2.9% in December 2025, the latest reading from the Bureau of Economic Analysis.But prices for many consumer goods remain far above what they were in 2020, and wages have roughly plateaued over that time when adjusted for inflation, according to nonpartisan economic research group, The Hamilton Project. That disparity could be contributing to Americans feeling bad about the economy. Consumer sentiment is down nearly 13% year-over-year as of February, according to the University of Michigan Survey of Consumers, which is released monthly.DON'T MISS: How to read people and master your body language to be more influential at workMany economists referenced the U.S. economy as "K-shaped" in 2025, illustrating how higher earners were doing alright — continuing to spend and driving economic growth — while lower-income Americans pulled back.Long, who was among the economists using the phrase "K-shaped," says the economy is taking more of an "E-shape" in 2026, with three tiers of consumer behavior instead of two. A middle group is distinguishing itself, and those people's behavior is starting to show that they're experiencing growing signs of strain, she says.Here's what she's seeing. Top tier: 'Driving a lot of the consumption' Like the top of the K-shape, the top tier of the E-shaped economy is comprised of high earners — the consumers who continue to spend money despite elevated prices. The top 20% of earners account for nearly 60% of all U.S. consumer spending, a recent analysis from Moody's Analytics found."This top tier [of earners] that's doing really well, that's driving a lot of the consumption," Long says.The difference between the K-shape and the E-shape: Middle-earners' spending growth was closely aligned with higher-earners until it started diverging toward the end of 2025, according to Bank of America Institute data released in February. As of January, the gap between high-income households and all other households' annual spending growth reached its highest level since mid-2022, the bank reported.Wealthy consumers aren't just continuing to buy what they always have, despite higher prices. Some retailers and brands, especially in the food and hospitality industries, are increasingly boosting their premium offerings to attract those big spenders, Long says.Premium credit cards like the Chase Sapphire Reserve and AmEx Platinum recently upped their annual fees to $795 and $895, respectively, betting that additional perks will lure in more high-earning cardholders. "Look at all of these exclusive platinum credit cards," Long says. "Almost every company is trying to move up the value chain, and you can see that in the earnings calls."The strategy has paid off for the airlines, hotel brands, and food and beverage companies that have reported strong demand for their extant and newer premium offerings since fall 2025 — even as sales for their standard and discount products slow down. Middle tier: 'Treading water' Spending behaviors among middle class Americans is where you start to see signs of the affordability crisis, Long says. They're still spending on their necessities and some discretionary categories, but "the middle class is treading water so they can still pay their bills," she says.Long calls this tier the "Costco economy," referencing consumers who aren't necessarily in a full-blown panic yet, but are increasingly shopping at discount and wholesale retailers like Costco and Walmart to get the most bang for their buck. "They're obviously spending in a nervous way," she says, "They feel they need to stretch every dollar they feel they need to buy in bulk, to do whatever they can [to save]."Regardless of where they're shopping, a growing number of American households are living paycheck to paycheck. Nearly 24% of households had expenses eating up the bulk of their earnings in 2025, according to data from Bank of America Institute published on Nov. 10. The bank's report defines "paycheck to paycheck" as having costs for essentials like housing, groceries, utilities, gas, child care and more that exceed 95% of income.The share of paycheck-to-paycheck households has been on the rise since at least 2023, the bank's researchers found.Middle-class households may be getting by for now, but Long says they're experiencing stress in waves. "Not only are they facing high prices, but it's every couple of months, something else surges," she says. Eggs, for example aren't nearly as expensive in 2026 as they were in 2025, but in January, beef prices were up 22% from the previous year, per the Labor Department."It's just whack-a-mole inflation," says Long. Bottom tier: Taking on debt The bottom tier of the E-shaped economy is characterized by high credit card usage and Buy Now, Pay Later usage, Long says.While middle and higher-earners certainly use credit cards and sometimes carry balances on them, lower-earners are more likely to report carrying a balance. Among card holders, 59% of those earning between $25,000 and $49,999 say they've carried a balance from month to month at least once in the last year, according to the Federal Reserve's latest Survey of Consumer Finances which was conducted in October 2024 and released in May 2025.Half of cardholders earning between $50,000 and  $99,999 say they've carried a balance at least once in the last year, compared to just 38% of those earning $100,000 or more.As for Buy Now, Pay Later plans, adults earning between $25,000 and $49,999 are mostly likely to have used the installment loans in the last year, the Fed reports. Lower earners, households earning less than $25,000, were the most likely survey respondents to report being paying late on a Buy Now, Pay Later plan, data shows.A quarter of Buy Now, Pay Later users reported using the loans to pay for groceries in 2025, up from 14% in 2024, found a February 2025 LendingTree survey.The 2026 tax season may come as a lifeline for Americans in the middle and bottom tiers, Long says. Over a third — 35% — of Americans expecting a tax refund say they'll use at least a portion of it to pay down debt, a Feb. 23 Intuit TurboTax survey found. But even large refunds are only a temporary fix for an ongoing affordability problem, Long says.Want to improve your communication, confidence and success at work? Take CNBC's new online course, Master Your Body Language To Boost Your Influence. Take control of your money with CNBC Select CNBC Select is editorially independent and may earn a commission from affiliate partners on links.Six ways to file your taxes for freeWhat is a good monthly retirement income in 2026?How to buy gold from CostcoHere are 5 grocery rewards cards to beat inflationThe 6 best personal loans of February 2026 VIDEO7:3607:36How I brought in $789K selling landline phones in 6 monthsHow I Made It

The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET. View More

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Friday's key moments. 1. Stocks fell Friday as the war in the Middle East escalated. The S & P 500 and Nasdaq were both off roughly 1% after President Donald Trump said Friday there would be no deal to end the U.S. war against Iran without an "unconditional surrender" by Iran. Despite continued uncertainty, Jim Cramer believes the "end-of-the-world view" has gone too far and sees buying opportunities in this "ugly market." Jim called out Goldman Sachs , Cardinal Health and Boeing as stocks to pick up in Friday's downbeat session. We made good on that with our fourth Cardinal Health purchase of the week after starting a position Monday . While we're restricted on Goldman, we upgraded the stock to a buy-equivalent 1 rating. We aren't making a trade on Boeing, but Jim said he likes it because its ties to the travel economy have weighed on shares this week despite making progress on its turnaround. Jim said he also likes Nvidia down 1% Friday ahead of its annual GTC conference starting March 16. 2. Oil prices on Friday reached their highest levels since April 2024 as the war sparks supply disruption concerns. Gas prices in the U.S. are already reflecting the climb, and that benefits Costco thanks to its reputation for offering the lowest gas prices around. "When gasoline goes up rapidly, people go to Costco," Jim said. People who drive an extra mile to Costco for gas may be inclined to go into the warehouse and make other purchases. Shares of the membership-only retailer advanced 1% Friday, a day after the company reported solid quarterly earnings . We liked seeing momentum in comparable sales, which shows it's clearly taking market share from other retailers. We're still waiting for membership renewal rates in the U.S. and Canada to stabilize, though. Following the print, we kept our hold-equivalent 2 rating on the stock but increased our price target to $1,100 from $1,050. 3. The pain in financial stocks continues Friday as the recent spike in private credit redemptions continues to weigh on sentiment. Oil and questions about the health of the economy are also headwinds for this group. Goldman and fellow Club names Capital One and Wells Fargo are all down Friday. We are, at least, avoiding pain in BlackRock on Friday, with the asset manager's shares down nearly 6% after it decided to limit withdrawals from one of its private credit funds. We exited the position earlier this week due to pressure on the private markets industry. "Sometimes it's better to be lucky than good," Jim said. "I just didn't like the way it acted." 4. Stocks covered in Friday's rapid fire at the end of the video were: Marvell Technology , Palantir , Gap , CoreWeave and Dow Inc . (Jim Cramer's Charitable Trust is long GS, BA, CAH, COST, BLK. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

Nonfarm payrolls were expected to increase 50,000 in February while the unemployment rate held steady at 4.3%. View More

watch nowVIDEO3:4803:48U.S. payrolls unexpectedly fell by 92,000 in February; unemployment rate rises to 4.4%Squawk Box The U.S. economy lost jobs in February, a month marred by severe winter weather and a strike at a major health-care provider, the Bureau of Labor Statistics reported Friday.Nonfarm payrolls fell by 92,000 for the month, compared with the estimate for 50,000 and below the downwardly revised January total of 126,000. February marked the third time in the past five months that payrolls declined, following a sharp revision showing a drop of 17,000 in December. window.addEventListener("message",function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}); At the same time, the unemployment rate edged higher to 4.4% as jobs declined across key areas. A broader measure of unemployment that includes discouraged workers and those holding part-time positions for economic reasons moved lower, to 7.9% or 0.2 percentage point below the January level. window.addEventListener("message",function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}); Health care, the primary growth driver in payrolls for at least the past year, saw a loss of 28,000, due largely to a strike at Kaiser Permanente that sidelined more than 30,000 workers in Hawaii and California. Though the strike has since been resolved, it occurred during the BLS survey week so it subtracted from the jobs total.While the jobs picture was weak, wages rose more than expected. Average hourly earnings increased 0.4% for the month and 3.8% from a year ago, both 0.1 percentage point above forecast."I think it just tells us that the hopes that the labor market was steadying, maybe that was too much," Mary Daly, president of the Federal Reserve Bank of San Francisco, told CNBC. "We also have inflation printing above target and oil prices rising. How long they last, we don't know, but both of our goals are risks now and we have to keep our eyes on both." window.addEventListener("message",function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}); Information services, a sector hit by artificial intelligence-related cuts, also lost jobs, down 11,000 as part of a 12-month trend in which the sector has lost an average of 5,000 per month. Manufacturing saw a loss of 12,000, despite tariffs aimed at reshoring jobs from overseas.Federal government employment also fell, off 10,000 for the month. President Donald Trump's efforts to pare federal payrolls has seen a slide of 330,000 jobs, or 11% of the total workforce, since October 2024, a few months before Trump took office, according to the BLS.Transportation and warehousing saw a reduction of 11,000. Social assistance was one of the few sectors posting a gain, up 9,000. The weather-sensitive construction industry lost 11,000 after surging by 48,000 in January.Long-term unemployment also surged higher, with the average duration of unemployment at 25.7 weeks, the longest since December 2021.Daly cautioned that the labor market data has been volatile."I don't think you can look through this report, but I also don't think you should make more of it than one month of data," she said.The report comes amid a crosscurrent of economic signals.Jefferies economist Thomas Simons called the February payrolls drop "a perfect storm of temporary drags coming together following an above-trend print in January.""Looking through the weather-impacted sectors and the strike, which ended on February 23, this is still a poor jobs number," Simons added. "We do not think that this is a harbinger of progressively worse jobs prints coming down the road, but the risk of a downturn has certainly increased."Though employment gains have been hard to come by, layoffs also have been fairly tame, with a few notable exceptions. Inflation had been moderating, but a recent spike in gas prices following the fighting in the Middle East has raised questions about another jump.Elsewhere, economic growth has been solid, with reports this week showing that both the services and manufacturing sectors are expanding. Consumers have held up fairly well, though there are growing signs that most of the spending is being done by upper-income earners.White House economic advisor Kevin Hassett said the average payroll growth over the past several months has been in line with trend considering the White House's efforts against illegal immigration. The economy has averaged fewer than 5,000 new jobs a month since Trump took office in January 2025."On average, it's about what we expect to be seeing because immigration has gone down by so much that break-even unemployment is probably in the sort of 30,000 or 40,000 jobs a month range," the National Economic Council director said on CNBC. "I think it's consistent with everything that we're seeing, which is that the economy is really strong."Federal Reserve officials consequently have taken a cautious approach to policymaking following a series of interest rate reductions. Most central bankers have advocated a wait-and-see approach as they watch both the impact of the rate cuts and geopolitical factors such as tariffs and the Iran war. window.addEventListener("message",function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}); Following the payrolls report, traders pulled forward expectations for the next cut to July and priced in a greater chance of two cuts before the end of the year, according to the CME Group's FedWatch gauge of futures market pricing.Fed Governor Christopher Waller said earlier in the morning that a weak jobs report could affect policy. Waller has been in the minority of Federal Open Market Committee members pushing for cuts soon."If we get a bad number, January's revised down to some really low number ... the question is, why are you just sitting on your hands? So I could certainly see this meeting going other way, depending on the data this week and [how] the [consumer price index] next week comes in," Waller said on Bloomberg News.The survey of households, which is used to calculate the unemployment rate, showed an even weaker economic picture. That portion of the report indicated a drop of 185,000 in those reporting at work and a rise of 203,000 in the unemployment level. The labor force participation rate edged lower to 62%, its lowest since December 2021. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

The economy is showing signs of slowing as the Iran war quickly pushes up gas prices. View More

watch nowVIDEO3:3903:39NEC Director Kevin Hassett: This economy is moving the fastest we've ever seenSquawk on the Street A difficult jobs report comes at a tough time for the White House. Gas prices are rising due to the war in Iran, while stock market turmoil is making savers and retirees antsy about the state of their 401(k)s.Data released Friday showing a loss of 92,000 jobs in February will put pressure on the Trump administration to reconsider military and homeland security policies that have complicated the nation's economic outlook. But there may simply not be enough time to force through a substantial policy shift that could improve the economic outlook before the November midterms. The state of the economy is mixed. The unemployment rate rose to 4.4% in February, reversing a decline from the month before. That rate is still low in historical terms. Meanwhile wages rose 3.8% since the year before, helping to reverse workers' losses in purchasing power from high inflation under the Biden administration. The rosy-tinted view of this report is that it shows an economy in rough stasis, with good prospects for improvement. Healthy businesses don't need to expand now because they are becoming more productive, and they aren't conducting mass layoffs. And with a crackdown on illegal immigration well underway, it is no surprise that a good number of people are leaving the workforce. "You can have strong output and not really, you know, magnificent job growth, if there's a big gain of productivity," Kevin Hassett, top White House economic advisor, said on CNBC's "Squawk Box" on Friday.  Read more CNBC politics coverageIran foreign minister: Not seeking ceasefire, warns U.S. invasion would be ‘big disaster for them’Epstein files: DOJ plans to release new batch of documents ‘fairly soon,’ MS NOW reportsSen. Merkley proposes prediction market ban for government officials after Maduro, Iran bets But that high-level message might not land well for people who have watched gas prices jump nearly 23 cents in just a week, according to AAA. Captains of ships carrying oil and other energy supplies are reluctant to pass through the Strait of Hormuz while missiles are flying. That has pushed the price of oil above $90 a barrel for Brent crude as of Friday morning. It was near $72.50 a week ago, before the Iran operation started. The last time oil topped $100 a barrel was in 2022 after Russia invaded Ukraine.Stocks have fallen as investors ingest the possibility of those higher energy prices pushing up inflation. The S&P 500 dropped 1.5% as trading opened Friday morning. That could prompt the Federal Reserve under Chair Jerome Powell to rethink lowering interest rates, as President Donald Trump has repeatedly demanded he do."It's high time for the Federal Reserve to cut interest rates and stop foolishly strangling America's economic resurgence under President Trump," White House spokesman Kush Desai told CNBC on Friday. Kevin Hassett, Director of the National Economic Council, speaks to reporters outside the White House in Washington, D.C., U.S., Feb. 25, 2026. Evelyn Hockstein | Reuters For now, the administration isn't expressing much concern. There has been "no discussion" of releasing oil from the Strategic Petroleum Reserve, Hassett said on CNBC. Trump in a social media post Friday said he wasn't considering any kind of quick deal with Iran to end the fighting. "There will be no deal with Iran except UNCONDITIONAL SURRENDER!," he wrote.But economic data such as the jobs report will make that position difficult to sustain. Americans may well ask why the U.S. is paying an economic and military cost in Iran, since Trump said prior airstrikes in June destroyed the country's nuclear program. The new joint U.S.-Israeli operation killed Iran's longtime supreme leader. Why keep going?At this point, it may not be up to the U.S. With Iran still between leaders, it isn't clear who could make a ceasefire deal, even if one were viable. And Iran's military forces have little left to lose in attacking U.S. interests, including energy supplies. The threat of an all-out U.S. attack was one reason Iranians held off retaliating against the U.S. in previous episodes. That bridge has now been thoroughly burned.It may be easier for Trump to pivot on immigration. The crackdown in Minneapolis produced enough political blowback for Trump to soften his approach. Now he has a chance to do so nationwide. On Thursday he fired Homeland Security Secretary Kristi Noem and named Sen. Markwayne Mullin, R-Okla., her expected replacement. An immigration approach that focuses on apprehending dangerous criminals and steers clear of raiding businesses might help the labor market's loss of workers. The lower interest rates Trump wants are in reach, too. Fed chair nominee Kevin Warsh would likely cut rates regardless of the oil shock, in large part because he believes in that productivity story, too. But to get Warsh into office, Trump needs to end an investigation into Powell that has prompted Sen. Thom Tillis, R-N.C., to stand in the way of advancing any Fed nominees. Trump and U.S. Attorney for the District of Columbia Jeanine Pirro have so far shown no sign of budging. An overall Trump administration push to improve the economic outlook could make some headway, though how long it would take to show up in the numbers is anyone's guess. But it would require a level of political coordination and strategic discipline that Trump has struggled with in his second term. The pace of events will only make that more difficult. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

The update comes as the Iran war enters its seventh day and the escalating regional conflict continues to disrupt global supply chains. View More

In this articleFollow your favorite stocksCREATE FREE ACCOUNT watch nowVIDEO9:4509:45Strait of Hormuz shipping insurance still available, price set by risk profilesSquawk Box Asia Danish shipping giant Maersk on Friday temporarily suspended two services linking the Middle East to Asia and Europe as the Iran war continues to disrupt global supply chains.The company, widely regarded as a barometer of global trade, said the decision to halt the FM1 service, connecting the Far East to the Middle East, and the ME11 Service, linking the Middle East to Europe, was a precautionary measure to ensure the safety of its personnel and vessels.It comes as the U.S. and Israeli-led war on Iran enters its seventh day, with the expanding conflict resulting in the effective halt of shipping traffic through the strategically vital Strait of Hormuz.The waterway is a key, narrow maritime corridor that connects the Persian Gulf and the Gulf of Oman. Roughly 20% of global oil and gas typically passes through it.Container shipping giants, however, have suspended operations through the Strait of Hormuz since the U.S. and Israel launched attacks on Iran on Feb. 28 and rerouted vessels around the southern tip of Africa.The crisis has left 147 container ships sheltering in the Persian Gulf, according to freight analytics firm Xeneta, prompting delays, port congestion, and freight rate increases that are rippling across global markets. Zoom In IconArrows pointing outwardsCNBC Europe Alongside the changes to the FM1 service and the ME11 service, Maersk said its shuttle services in the Persian Gulf region were suspended until further notice.The ME1 service connecting the Middle East to northern Europe will temporarily drop the call in Jebel Ali, a major port city in the United Arab Emirates, Maersk said, and continue to call India and Oman. Shares of Maersk were last seen 0.6% lower. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.