Latest Sectors News

Software stocks have been in sell-off mode in recent weeks on fears that new AI tools will uproot their longstanding business models. View More

In this articleRNGFIVNFollow your favorite stocksCREATE FREE ACCOUNT Pavlo Gonchar | Lightrocket | Getty Images Shares of RingCentral and Five9 surged on Friday after earnings from both software firms alleviated recent fears that artificial intelligence is eating away at their business models.RingCentral popped 34%, while Five9 rallied about 12% after topping Wall Street's estimates and issuing upbeat guidance. Both companies, which provide customer service solutions like voice integration, said accelerating AI adoption has boosted demand.New AI tools, capable of building apps and websites in a matter of minutes, have spooked investors in recent weeks, leading to a massive selloff across the software sector.The worry is that these products, emerging from the likes of Anthropic and OpenAI, will displace the software-as-a-service industry's longstanding business models as firms lean on quicker and more efficient AI tools.So far this year, the iShares Expanded Tech-Software Sector ETF tracking the sector has plunged about 23%, led to the downside by Atlassian, Unity Software and Rapid7, which have shed more than half their value. Software giants Salesforce and Microsoft have dropped 30% and 18%, respectively. Read more CNBC tech newsTesla loses bid to toss $243 million verdict in fatal Autopilot crash suitMeta and Apple face serious questions about child safety and privacyFrom 'vanlords' to safe parking sites: How RVs became Silicon Valley's housing safety netWho's laughing now? China's humanoid robots go from viral stumbles to kung fu flips in one year RingCentral, which is up about 37% this year after a 17% slump in 2025, called AI a tailwind to its business, telling investors on Thursday that annual recurring revenue from customers using the tools doubled year over year to nearly 10%. The company also recently integrated ChatGPT models into its voice AI product. Elsewhere, Five9 told investors that its enterprise AI bookings more than doubled from a year ago, leading to an uptick in its backlog. Management also said the company's AI portfolio hit $100 million in annual recurring revenue. Chairman Michael Burkland told analysts during an earnings call on Thursday that Five9 leverages large language models, or LLMs, to enhance solutions for its customers, but maintains an "absolute competitive moat.""We're going to continue to have advancements by LLMs, but I've said this even two years ago, you cannot run a customer service organization on an LLM," he said. Five9 shares have declined nearly 4% this year, following a 51% sell-off in 2025.WATCH: Citi's Tyler Radke: We're getting close to the bottom of the software sell-off watch nowVIDEO3:4303:43Citi's Tyler Radke: We're getting close to the bottom of the software sell-offClosing Bell: Overtime

Harvey Spevak, Equinox's executive chairman, said demand for "Optimize" memberships highlights the "insatiable" demand by the wealthy for wellness offerings. View More

watch nowVIDEO26:3826:38Inside Wealth: Equinox's Harvey Spevak on why health is the new luxuryInside Wealth Equinox's $40,000-a-year membership has a waiting list of more than 1,000 people, as demand for luxury health and wellness programs soars, according to the company's chairman.The high-end fitness chain's "Optimize by Equinox," launched in 2024, is one of the most expensive gym memberships in the world and includes everything from personal training and nutrition to sleep coaching, massage therapy and a "health concierge." Harvey Spevak, Equinox's executive chairman, told Inside Wealth that the program has seen remarkable demand and highlights the "insatiable" demand by the wealthy for longevity and wellness products."Health is the new luxury," Spevak said. "The No. 1 thing in the experience economy, besides travel, that the consumer wants, is, 'How do I live a high-performance lifestyle?'"The Optimize program is all part of Equinox's strategy to become the leading luxury brand in the fast-growing business of health and wellness. The global wellness market is expected to reach nearly $10 trillion by 2030, up from $6.8 trillion in 2024, according to estimates from the Global Wellness Institute. With the population of millionaires and billionaires aging, and an explosion in companies and products promising miracle cures, the wealthy are driving much of the spending. 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}}}); Equinox has grown beyond fitness clubs to expand into hotels and hospitality, personalized performance programs, IV centers, blood-testing collaborations and more. The company opened its first hotel, in Manhattan's Hudson Yards neighborhood, in 2019 and is about to open a second, in Saudi Arabia. Spevak said Equinox will likely have close to a dozen hotels around the world — including in the Middle East, the Caribbean and the U.S. — within the next seven to eight years.Equinox currently has 115 fitness clubs and has plans for 40 more — including locations in Nashville, Tennessee; Toronto; Charlotte, North Carolina; and South Florida. Despite being the largest retailer in New York by square feet, it's continuing to add more in its home city, Spevak said.The Optimize membership leverages Function Health, a lab test company, to provide clients with tests for 100 biomarkers twice a year, which could then serve as guides for a fitness, nutrition and lifestyle program tailored to each client. Get Inside Wealth directly to your inboxThe Inside Wealth newsletter by Robert Frank is your weekly guide to high-net-worth investors and the industries that serve them.Subscribe here to get access today. Spevak said the program has rolled out in Los Angeles and Dallas and will eventually launch in New York. The company also recently created a personalized program for women called EQX ARC. Using  diagnostics, wearables and specialized coaching, the program is designed around the different stages of a woman's life and health journey, and already has its own waitlist.Spevak said the company's IV-drip lounge at the Equinox Hotel in Hudson Yards — its only drip lounge thus far — has already become "a seven-figure business." Equinox Hudson Yards is the brand’s truest realization of its holistic lifestyle promise, giving members access to signature group fitness classes, a 25-yard indoor saltwater pool, hot and cold plunge pools and a 15,000 square foot outdoor leisure pool and sundeck. The Equinox at Hudson Yards footprint offers ample opportunity for training, working, regenerating, socializing, community building, eating and more.Matthew Peyton | Getty Images Entertainment | Getty Images While Equinox is private and doesn't disclose financials, Spevak said 2025 was a "record year" for the company and he expects 2026 "to be even bigger." He said other high-end consumer companies are reaching out to Equinox to partner on health and wellness."When you think about the economy moving from a product economy to an experience economy, a lot of big consumer companies are saying, 'Well, how do I continue to serve my consumer and health and wellness, and who do I talk to?'"There's truly only one brand that has the authority and the brand equity," he said. A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.

Families have signed up about 3 million kids for Trump accounts, Treasury Secretary Scott Bessent said Friday. View More

In this articleFollow your favorite stocksCREATE FREE ACCOUNT watch nowVIDEO7:0107:01One Super Bowl ad touts Trump accounts. Here's who is eligible for free moneyMarkets and Politics Digital Original Video On the heels of a massive publicity push, including a Super Bowl 60 ad and a billboard in New York's Times Square, families have filed about 2 million forms to open Trump accounts, Treasury Secretary Scott Bessent said at an event near Dallas on Friday. "As we approach 2 million forms, that will probably be about 3 million children," Bessent said.The stop was part of the Trump Accounts Tour, following an earlier speech at the Economic Club of Dallas, where Bessent also plugged the accounts. "Programs like this often struggle with sign-ups," Matt Lira, co-founder of Invest America, a nonprofit advocacy group, told CNBC in an interview. Invest America paid for the Trump account Super Bowl commercial and has been promoting the new investment accounts for children.The early response from families "shows that the product market fit on the idea is strong," he said.The opening of tax season on Jan. 26 was the first opportunity for families to elect to open Trump accounts and claim seed money of up to $1,000 by filing IRS Form 4547 with their 2025 tax returns. Less than two weeks later, following the Super Bowl on Feb. 8, Invest America announced in an X post that families could also start filing Form 4547 separately through TrumpAccounts.gov. Read more CNBC personal finance coverageTreasury: Trump accounts sign up about 3 million kids in early pushAverage IRS tax refund is up 14.2%, according to early filing dataStudent loan delinquency rate jumps to nearly 25% in Trump's second term: analysisWhat Supreme Court ruling against Trump tariffs means for your moneyPersonal loans surge: It's 'the middle-class refinancing option,' expert saysTrump: tax refunds are 'substantially greater than ever before.' What to expectTrump officials warn hundreds of colleges with low student loan repayment ratesAs AI puts the squeeze on entry-level jobs, teens remain optimistic: reportTrump administration finds more borrowers eligible for student loan forgivenessMore used cars are for sale, but ones under $20,000 are 'harder to find': ExpertHow to claim Trump's 'no tax on overtime' deduction this seasonParents with student debt face deadline to secure affordable repayment, forgivenessSecure 2.0 let employers pair emergency savings and 401(k)s, but few have done soHome sellers start getting lower prices at 70, research shows — here's whyAverage IRS tax refund is up 10.9% so far this season, early filing data showsEarly estimates point to lower Social Security COLA for 2027Senators call for longer Social Security Fairness Act lump-sum payment timelineCNBC's Financial Advisor 100: Best financial advisors, top firms ranked Any parent or guardian can set up an account for a child under 18, but only children born between 2025 and 2028 are eligible for the one-time $1,000 contribution from the Treasury. After filing Form 4547, families will be contacted by a "trustee" with further details to complete the account setup, according to TrumpAccounts.gov. The authentication process is expected to begin in May, according to Treasury guidance from December.Once an account is established, the federal government's $1,000 seed funding will be available in Trump accounts on July 4, a Treasury spokeswoman previously told CNBC. Parents, guardians and others can contribute up to $5,000 annually to Trump accounts until children turn 18 years old. A growing number of companies have pledged to match the Treasury's initial deposit for the children of employees. Employers can deposit up to $2,500 as part of the $5,000 limit. Other kids may qualify for philanthropist gifts to Trump accounts, depending on income and where they live. Gifts facilitated by the Treasury won't count toward the $5,000 contribution limit, Lira from Invest America told CNBC.

Blue Owl, a direct lender specializing in loans to the software industry, said it had sold $1.4 billion of its loans to institutional investors at 99.7% of par value. View More

In this articleOWLFollow your favorite stocksCREATE FREE ACCOUNT Blue Owl BDC's CEO Craig Packer speaks during an interview with CNBC on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Nov. 19, 2025.Brendan McDermid | Reuters The latest tremor in the private credit world involved a deal that should've been reassuring to markets. Blue Owl, a direct lender specializing in loans to the software industry, said Wednesday it had sold $1.4 billion of its loans to institutional investors at 99.7% of par value. That means sophisticated players scrutinized the loans and the companies involved and felt comfortable paying nearly full price for the debt, a message that Blue Owl co-President Craig Packer sought to convey in interviews several times this week.But instead of calming markets, it sent shares of Blue Owl and other alternative asset managers diving on fears of what could follow. That's because as part of the asset sale, Blue Owl announced it was replacing voluntary quarterly redemptions with mandated "capital distributions" funded by future asset sales, earnings or other transactions."The optics are bad, even if the loan book is fine," Brian Finneran of Truist Securities wrote in commentary circulated Thursday. "Most investors are interpreting the sales to mean that redemptions accelerated and led to forced sales of higher quality assets to meet requests."Blue Owl's move was widely interpreted as the firm halting redemptions from a fund under pressure, even as Packer pointed out investors would get about 30% of their money back by March 31, far more than the 5% allowed under its previous quarterly schedule."We're not halting redemptions, we're just changing the form," Packer told CNBC on Friday. "If anything, we're accelerating redemptions." watch nowVIDEO5:3905:39Blue Owl's Craig Packer: We're not halting redemptions, we're just changing the formSquawk on the Street Coming amid a broad tech and software selloff fueled by fears of AI disruption, the episode shows that even apparently strong loan books aren't immune to market jitters. This in turn forces alternative lenders to scramble to satisfy shareholders' sudden demands for the return of their money.It also exposed a central tension in private credit: What happens when illiquid assets collide with demands for liquidity?Against a backdrop that was already fragile for private credit since the collapse of auto firms Tricolor and First Brands, the fear that this could be an early sign of credit markets cracking took off. Shares of Blue Owl fell Thursday and Friday. They are down more than 50% in the past year. Early Thursday, the economist and former Pimco CEO Mohamed El-Erian wondered in social media posts whether Blue Owl was a "canary in the coal mine" for a future crisis, like the failure of a pair of Bear Stearns credit funds in 2007. On Friday, Treasury Secretary Scott Bessent said that he was "concerned" about the possibility that risks from Blue Owl had migrated to the regulated financial system because one of the institutional buyers was an insurance company. Mostly software With skepticism over loans to software firms running high, one question from investors was whether the loans they sold were a representative slice of the total funds, or whether Blue Owl cherry-picked the best loans to sell.The underlying loans were to 128 companies across 27 industries, the largest being software, the firm said.Blue Owl indicated it was a broad swath of overall loans in the funds: "Each investment to be sold represents a partial amount of each Blue Owl BDC's exposure to the respective portfolio company."Despite its efforts to calm markets, Blue Owl finds itself at the nexus of concerns around private credit loans made to software firms.Most of the 200-plus companies Blue Owl lends to are in software; more than 70% of its loans are to that category, executives said Wednesday in a fourth-quarter earnings call. "We remain enthusiastic proponents of software," Packer said on that call. "Software is an enabling technology that can serve every sector and market and company in the world. It's not a monolith."The company makes loans to firms "with durable moats" and is protected by the seniority of its loans, meaning that private equity owners would need to be wiped out before Blue Owl saw losses.But, for now at least, the problem Blue Owl faces is one of perception bleeding into reality."The market is reacting, and it becomes this self-fulfilling idea, where they get more redemptions, so they have to sell more loans, and that drives the stock down further," said Ben Emmons, founder of FedWatch Advisors. VIDEO15:4715:47Watch CNBC's full interview with Blue Owl's Craig Packer

The average IRS tax refund is up 14.2%, according to early filing data. Here's what filers can expect this season. View More

In this articleIRSFollow your favorite stocksCREATE FREE ACCOUNT Jose Luis Pelaez Inc. | Blend Images | Getty Images The average tax refund is 14.2% higher so far this season, compared to about the same period in 2025, according to early IRS filing data.As of Feb. 13, the average refund amount for individual filers was $2,476, up from $2,169 about one year prior, the IRS reported on Friday. The data is cumulative from the Jan. 26 tax season opening.The total amount refunded was about $32 billion, up 8.3% from 2025, according to the IRS release. However, the total filings received was down by 2.6%. Read more CNBC personal finance coverageTreasury: Trump accounts sign up about 3 million kids in early pushAverage IRS tax refund is up 14.2%, according to early filing dataStudent loan delinquency rate jumps to nearly 25% in Trump's second term: analysisWhat Supreme Court ruling against Trump tariffs means for your moneyPersonal loans surge: It's 'the middle-class refinancing option,' expert saysTrump: tax refunds are 'substantially greater than ever before.' What to expectTrump officials warn hundreds of colleges with low student loan repayment ratesAs AI puts the squeeze on entry-level jobs, teens remain optimistic: reportTrump administration finds more borrowers eligible for student loan forgivenessMore used cars are for sale, but ones under $20,000 are 'harder to find': ExpertHow to claim Trump's 'no tax on overtime' deduction this seasonParents with student debt face deadline to secure affordable repayment, forgivenessSecure 2.0 let employers pair emergency savings and 401(k)s, but few have done soHome sellers start getting lower prices at 70, research shows — here's whyAverage IRS tax refund is up 10.9% so far this season, early filing data showsEarly estimates point to lower Social Security COLA for 2027Senators call for longer Social Security Fairness Act lump-sum payment timelineCNBC's Financial Advisor 100: Best financial advisors, top firms ranked As the midterm elections get closer, the Trump administration and congressional Republicans have been laser-focused on how Trump's "big beautiful bill" may impact the size of tax refunds this season.In a Truth Social post on Tuesday, Trump said tax refunds are "substantially greater than ever before." "In some cases, estimates are that over 20% will be returned to the Taxpayer," he wrote. It's unclear which estimates Trump was referencing. The White House did not respond to CNBC's request for clarification. A few days earlier, on Feb. 13, Treasury Secretary and acting IRS Commissioner Scott Bessent told CNBC's "Squawk Box" the average tax refund was 22% higher so far this season. It wasn't clear how many days of returns Bessent's figure included or what comparison period he used. But his figure was significantly higher than the average refund increase of 10.9% the IRS announced later that day. The Treasury has not responded to CNBC's requests for comment. Why average tax refunds could increase "So far, refunds are up, which is consistent with our and the Trump administration's expectations heading into the filing season," Andrew Lautz, director of tax policy for the Bipartisan Policy Center, a nonprofit think tank, told CNBC.But there's still not enough filing data to support conclusions about filing season trends, he said.Typically, the average refund size increases starting around mid-February once payments include the earned income tax credit or additional child tax credit, the IRS said in its first filing season statistics release on Feb. 13. Those numbers could be reflected in the agency's filing data through Feb. 20, which the IRS will release on Feb. 27. watch nowVIDEO4:0804:08Trump tax laws to produce higher refunds in 2026Personal Finance

Child-safety advocacy coalition ParentsSOS urged the National PTA to end other Big Tech partnerships due to safety and well-being concerns. View More

In this articleMETAFollow your favorite stocksCREATE FREE ACCOUNT Meta CEO Mark Zuckerberg leaves the Federal Courthouse in downtown Los Angeles after defending the company in a landmark social media addiction trial in Los Angeles, United States, on February 19, 2026.Jon Putman | Anadolu | Getty Images The National Parent Teacher Association is splitting with Meta as the social media giant's high-profile child-safety court cases unfold.Yvonne Johnson, the president of the influential education-focused nonprofit, said in a letter to members obtained by CNBC on Friday that the organization will not "pursue renewal funding from Meta to support PTA Connected for 2026," referring to an initiative intended to help educate parents, children and teachers about digital safety tools and resources. "As you may have seen, there has been heightened public scrutiny and legal cases involving companies including Meta regarding digital safety that have created new challenges, challenges that have proved both time-consuming and difficult for National PTA," Johnson wrote in the February letter.Johnson didn't disclose how much funding the National PTA received from Meta. The social media giant is facing trials in both California and New Mexico that accuse Meta of misleading the public about the safety of apps like Instagram.CEO Mark Zuckerberg testified this week in Los Angeles Superior Court in a trial involving a plaintiff dubbed KGM, who alleges that she became addicted to apps like Instagram and YouTube due to certain design features, thus suffering great mental anguish.Meta is also involved in a separate, ongoing trial in New Mexico where the state's attorney general has alleged that Meta failed to safeguard its apps from online predators.The company has denied the allegations in both of those cases.Meta declined to comment. CNBC has reached out to the National PTA for any additional comment.The National PTA and Meta "have had a funding relationship since 2017," Johnson wrote, saying that the previous agreement ended on Dec. 31, 2025. Read more CNBC tech newsTesla loses bid to toss $243 million verdict in fatal Autopilot crash suitMeta and Apple face serious questions about child safety and privacyFrom 'vanlords' to safe parking sites: How RVs became Silicon Valley's housing safety netWho's laughing now? China's humanoid robots go from viral stumbles to kung fu flips in one year Sharon Winkler, a founding member of child-safety advocacy coalition Parents for Safe Online Spaces, or ParentsSOS, said in a statement that Zuckerberg's testimony showed that the National PTA "made the right choice to end its partnership.""For years, his company has deliberately addicted children to its social media products," Winkler said. "As a result of Zuckerberg's greed and relentless pursuit of market share, countless children have been harmed, and families like ours have been destroyed."ParentsSOS said it also urged the National PTA to "end its other Big Tech partnerships, including Discord, Google, and TikTok," due to child safety and well-being concerns.Those tech companies, and others, are also involved in multiple lawsuits around the country over similar allegations related to the design and features of their respective services that plaintiffs claim pose serious harms to the mental health of young users and compromise their safety.The split comes a few months after the tech watchdog organization Tech Transparency Project published a report detailing the relationship between Meta and the National PTA, which the TTP characterized as part of a broader effort by the social media giant to shape the public narrative on child safety pertaining to apps like Instagram.″As Meta has come under growing pressure over its impact on kids and their well-being, the company has responded with a range of tactics to influence the public debate," TTP wrote at the time, as CNBC reported.The National PTA told CNBC in a statement at the time that the organization accepted sponsorship from Meta so the social media giant could have a "seat at the table" and be a "strong, clear voice for parents and children.""Our collaboration with Meta provides an opportunity to help inform families about safety on its apps and the available tools (e.g., parental controls, age-gated features) and resources (e.g., parent's guides, online safety centers)," the National PTA said at the time.WATCH: Worst outcome in Meta LA trial could bring structural changes to its apps. watch nowVIDEO5:1905:19Worst outcome in Meta LA trial are structural changes to their apps: Big Technology's KantrowitzThe Exchange

President Donald Trump's tariffs have forced some e-commerce companies to raise prices and alter their supply chains. View More

In this articlePDDSHOPEBAYETSYAMZNFollow your favorite stocksCREATE FREE ACCOUNT watch nowVIDEO3:5603:56SCOTUS ruling 'a very clear rebuke' of Trump tariffs, says Jamil JafferSquawk on the Street E-commerce stocks that were exposed to President Donald Trump's far-reaching global tariffs rallied Friday, after the Supreme Court struck down a key pillar of the president's economic agenda.In a 6-3 ruling, the court said Trump does not have the legal authority to impose tariffs under the International Economic Powers Act, the method by which many of the levies were invoked. IEEPA does not explicitly mention tariffs. The decision sent Amazon and Wayfair's stock up 2%, while Etsy climbed 8%. Shares of Shopify rose 1% and eBay popped 3%. Pinduoduo Holdings, the parent company of ultracheap online marketplace Temu, jumped 2%. Trump's sweeping tariffs have been greatly disruptive to e-commerce companies that provide a platform for online businesses to hawk their wares. In some cases, the tariffs have eaten into margins and forced businesses to lay off staff, raise prices or radically alter their supply chains.Trump also invoked the IEEPA law when he announced the removal of the "de minimis" exemption, which allowed low-value packages to arrive in the U.S. without trade duties. That dealt a blow to many small business owners on Etsy, eBay and Shopify who relied on the provision to support their marketplace businesses. Read more CNBC tech newsTesla loses bid to toss $243 million verdict in fatal Autopilot crash suitMeta and Apple face serious questions about child safety and privacyFrom 'vanlords' to safe parking sites: How RVs became Silicon Valley's housing safety netWho's laughing now? China's humanoid robots go from viral stumbles to kung fu flips in one year It also threatened to dismantle Temu and Shein's businesses in the U.S. The bargain retailers used the loophole to ship packages to American shoppers directly from China duty-free. In response, Temu briefly halted direct shipments from China. Both companies have since built up bigger seller bases and logistics operations in the U.S. The end of de minimis and other dramatic changes in tariff policies, combined with a gloomy economic backdrop, have also weighed on consumer sentiment. Amazon CEO Andy Jassy told CNBC in an interview last month that Trump's tariffs have started to "creep" into the price of some items. The company has observed some people trading down to lower-priced items and bargain hunting, while others are showing more hesitation around higher-priced discretionary items. Etsy said in its annual report on Thursday that its business has been pressured by a pullback in discretionary spending and "evolving buyer behavior." "There is considerable uncertainty regarding the evolving tariff landscape, how recent changes to de minimis exemptions may play out, and the impact higher tariffs might have on consumer demand and discretionary wallet share," the company wrote in its 10-K filing.The online marketplace, which hosts many small businesses and artisan makers, also gave tepid guidance for first-quarter gross merchandise sales. CFO Lanny Baker said Etsy's forecast assumes macroeconomic conditions remain "stable relative to where they are at present."Representatives from Etsy and Amazon didn't immediately respond to a request for comment on the SCOTUS ruling.The National Retail Federation, a major trade group, said in a statement that the ruling provides "much-needed certainty for U.S. businesses and manufacturers, enabling global supply chains to operate without ambiguity."Companies could now move to recover billions in tariff costs, with some already filing lawsuits in advance of the court's decision.Apple has paid about $3.3 billion in tariffs so far. watch nowVIDEO2:3602:36NRF applauds SCOTUS decision as questions remain for retailersMoney Movers

President Donald Trump's tariffs have cost the iPhone-maker about $1 billion each quarter. View More

In this articleAAPLFollow your favorite stocksCREATE FREE ACCOUNT Tim Cook, chief executive officer of Apple Inc., during the 60th presidential inauguration in the rotunda of the US Capitol in Washington, DC, US, on Monday, Jan. 20, 2025.Bloomberg | Getty Images Apple's tariff bill has racked up about $1 billion per quarter, but that number should start shrinking following the Supreme Court decision on tariffs.The Supreme Court on Friday struck down a large chunk of President Donald Trump's far-reaching tariff agenda, delivering a major rebuke of the president's key economic policy. Apple has paid about $3.3 billion in tariffs since Trump initiated them last year. The iPhone maker's shares rose about 1% on Friday.Friday's decision means Apple could start to see lower production costs and keep more of its margins. The company could also face less pressure to move its production away from China and simplify its supply chain.Apple declined to comment.The large tariff costs stem from U.S. import duties on products and components manufactured overseas — especially from China and other Asian partners, like Vietnam and India.When laying out the plan to handle tariffs in May, CEO Tim Cook said Apple is sourcing half of its iPhones for the U.S. from India and most of its other U.S.-bound products like Macs, AirPods and watches from Vietnam, where tariffs were lower than China's at the time. Friday's decision kills Trump's tariffs on China-made goods, which were at a 47% rate as of December. It also frees Apple up to produce more U.S.-bound products in China, where most of its products to non-U.S. countries have been sourced, instead of diverting to India and Vietnam. On earnings calls, Cook has emphasized that Apple is largely absorbing tariff costs to avoid sudden price jumps for customers. watch nowVIDEO4:2804:28Tariff ruling won't have direct impact on semiconductors, says Bernstein's Stacy RasgonPower Lunch Friday's ruling means the U.S. government could owe more than $175 billion in refunds to importers after the Supreme Court ruled in a 6-3 decision that tariffs unilaterally imposed by Trump are illegal.One big question is whether Apple will fight to claw back its tariffs or eat the costs to avoid angering the president.Addressing the SCOTUS decision in a press conference Friday afternoon, Trump did not commit to refunding U.S. companies that paid the tariffs and said he expects multi-year "litigation" over paying back the money.The tariffs have tested the relationship between the commander-in-chief and the chief executive of one of the world's most valuable companies.The once-solid relationship between Trump and Cook began breaking down over the idea of a U.S.-made iPhone. In May, Trump said he "had a little problem with Tim Cook," and threatened to slap a 25% tariff on iPhones.Cook went on the charm offensive.In August, he appeared at the White House with Trump to announce plans to spend about $600 billion over four years in the U.S. Apple also committed to purchasing parts and expanding its relationship with U.S. suppliers. Cook presented Trump with a custom, engraved glass plaque featuring a 24-karat gold base.Last month, Cook attended the White House screening of the "Melania" documentary about first lady Melania Trump. watch nowVIDEO5:4005:40'Months and years' of tariff litigation ahead for the U.S., says Piper Sandler's Andy LaperrierePower Lunch Despite Friday's ruling, tariffs are still a moving target, leaving many questions about the impact on companies like Apple.Hours after the Supreme Court struck down his reciprocal tariffs, the president said he will sign an executive order imposing a new 10% "global tariff," which he's invoking under Section 122 of the Trade Act of 1974. Tariffs using that statute can only last for 150 days, with any extension requiring congressional approval. The administration is also wielding Section 301 to launch several investigations into potentially unfair trade practices, which could result in additional new tariffs, the president said.CNBC's Steve Kovach contributed to this report.  Read more CNBC tech newsTesla loses bid to toss $243 million verdict in fatal Autopilot crash suitMeta and Apple face serious questions about child safety and privacyFrom 'vanlords' to safe parking sites: How RVs became Silicon Valley's housing safety netWho's laughing now? China's humanoid robots go from viral stumbles to kung fu flips in one year

Around 7.9 million student loan borrowers entered delinquency in the first three quarters of 2025 alone, according to a new report by The Century Foundation. View More

Julpo | E+ | Getty Images The student loan delinquency rate is surging, new research finds. Nearly 25% of student loan borrowers with a payment due are now behind, compared with around 9% in 2019, during President Donald Trump's first term, according to a report published Friday by The Century Foundation, a left-leaning think tank.Around 7.9 million student loan borrowers entered delinquency in the first three quarters of 2025 alone, the authors of the study wrote. The foundation used data from the University of California Consumer Credit Panel, a 2% nationally representative sample of U.S. adults with credit records, for its analysis.The researchers said the Trump administration's policies during the president's second term are to blame for the spike in delinquencies. Read more CNBC personal finance coverageTreasury: Trump accounts sign up about 3 million kids in early pushAverage IRS tax refund is up 14.2%, according to early filing dataStudent loan delinquency rate jumps to nearly 25% in Trump's second term: analysisWhat Supreme Court ruling against Trump tariffs means for your moneyPersonal loans surge: It's 'the middle-class refinancing option,' expert saysTrump: tax refunds are 'substantially greater than ever before.' What to expectTrump officials warn hundreds of colleges with low student loan repayment ratesAs AI puts the squeeze on entry-level jobs, teens remain optimistic: reportTrump administration finds more borrowers eligible for student loan forgivenessMore used cars are for sale, but ones under $20,000 are 'harder to find': ExpertHow to claim Trump's 'no tax on overtime' deduction this seasonParents with student debt face deadline to secure affordable repayment, forgivenessSecure 2.0 let employers pair emergency savings and 401(k)s, but few have done soHome sellers start getting lower prices at 70, research shows — here's whyAverage IRS tax refund is up 10.9% so far this season, early filing data showsEarly estimates point to lower Social Security COLA for 2027Senators call for longer Social Security Fairness Act lump-sum payment timelineCNBC's Financial Advisor 100: Best financial advisors, top firms ranked "By blocking access to the very programs designed to help struggling borrowers, Donald Trump is trapping millions in a spiral of debt that is destroying their credit scores and locking them out of homeownership, buying a car and other life milestones," said Peter Granville, a fellow at The Century Foundation and lead author of the study.Ellen Keast, press secretary for higher education at the Education Department, said the Biden administration had masked delinquency rates with its relief measures for student loan borrowers. "The idea of a sudden increase in delinquencies in student loans is a misnomer," Keast said. "The Trump Administration is once again reporting full and accurate data on student loan repayment instead of extending so-called flexibilities related to a pandemic that ended five years ago."More than 42 million Americans hold student loans, and the outstanding debt exceeds $1.6 trillion, according to the Congressional Research Service. Borrowers face repayment, credit challenges Student loan borrowers are facing a recent barrage of changes to the lending system, including the end of the Biden administration's Saving on a Valuable Education, or SAVE, plan. That plan was designed to be the most affordable repayment plan to date, but faced Republican-led legal challenges and was ultimately blocked in court. For roughly five years, starting with the Covid pandemic, student loan borrowers who missed their payments were also shielded from collection activity and negative credit reporting. That relief is now expired. Around 2 million student loan borrowers with delinquent loans have seen their credit scores fall, with an average drop in score to 580 from 680, the foundation estimates. Credit scores, which impact people's ability and costs to borrow, typically range from 300 to 850, with around 670 and higher considered good.The Education Department announced last year that it would begin collection activity against defaulted borrowers, but has repeatedly paused those enforcement efforts. The Trump administration's cuts to the federal workforce have likely also exacerbated student loan borrowers' repayment struggles, said higher education expert Mark Kantrowitz. In March, Trump officials terminated thousands of the Education Department's staffers, including many who helped borrowers. The administration has also rolled back the Consumer Financial Protection Bureau's enforcement activity and sought to reduce the agency's staff and funding, although many of those actions have been challenged in court. The CFPB oversees student loan servicers and combats abusive practices in the lending space."When you get rid of people who help borrowers face financial challenges, is it any surprise that these borrowers encounter problems dealing with debt?" Kantrowitz said. More than 600,000 federal student loan holders remain in a backlog of applications for an affordable repayment plan, the Education Department disclosed in a recent court filing. More than 86,000 borrowers are waiting for a decision from the department on their student loan forgiveness. Which student loan borrowers are struggling Student loan delinquency rates are especially high in several Southern states, according to the Century Foundation's analysis. In Louisiana and Mississippi, the analysis found, nearly 40% of federal student loan borrowers with payments due are delinquent, the largest shares nationwide. 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}}}); Black borrowers are struggling most, the researchers found.Around 20% of white student loan borrowers were past due in the third quarter of 2025, compared with more than 48% of Black student loan borrowers and around 30% of Hispanic borrowers. Why it could get worse for student loan borrowers Trump's One Big Beautiful Bill Act's overhaul to the student loan system is likely to make it harder for people to afford their payments, consumer advocates say. The law phases out several affordable repayment plans and lengthens terms for others. The median U.S. household, with a family of four and an income of $81,000, could see its monthly bill surge to $440 from $36, due to the legislative changes, according to the Institute for College Access & Success, a nonprofit organization that promotes college affordability.

U.S. President Donald Trump has given Iran "10 to 15" days to make a meaningful deal over its nuclear program — or “really bad things” will happen. View More

In this article@LCO.1@CL.1Follow your favorite stocksCREATE FREE ACCOUNT US President Donald Trump speaks to reporters on Air Force One before taking off from Joint Base Andrews, Maryland on Feb. 19, 2026. Saul Loeb | AFP | Getty Images Oil prices were stable on Friday, after President Donald Trump said he was considering a limited military strike to pressure Iran over its nuclear program."I guess I can say I am considering that," Trump said when asked by a reporter at a White House breakfast with U.S. governors.International benchmark Brent crude futures with April delivery rose 10 cents to close at $71.76 per barrel, while U.S. West Texas Intermediate futures with March delivery lost 4 cents to settle at $66.39. Both contracts notched their highest settle in six months in the previous session as energy market participants continue to monitor supply risks in the oil-rich Middle East.The U.S. and Iran have held talks in Switzerland this week to try to resolve a standoff over Tehran's nuclear program. Initial reports of progress, however, gave way to accusations from Washington that Iran had failed to address core U.S. demands. Speaking at the first meeting of his Board of Peace in Washington on Thursday, the U.S. president said "bad things will happen" if Tehran doesn't agree to a deal over its nuclear program. Trump added that the world will likely find out over the next 10 days whether the U.S. will reach a deal with Iran or take military action. He later told reporters aboard Air Force One that he wanted an agreement within "10 to 15 days." Stock Chart IconStock chart iconBrent crude futures over the last six months. His comments come after a significant buildup of U.S. military forces in the Middle East and amid reports the White House is considering fresh military action against Tehran as soon as this weekend. Trump said Iran's nuclear potential had been "totally decimated" by U.S. strikes on its facilities in June last year, before adding "we may have to take it a step further or we may not," without providing further details.Iran reportedly said in a letter to United Nations Secretary-General Antonio Guterres on Thursday that Tehran will respond "decisively" if subjected to military aggression.The Islamic Republic has conducted military drills in the strategically vital Strait of Hormuz in recent days, as well as joint naval drills with Russia in the Gulf of Oman, also known as the Sea of Oman. Naval units from Iran and Russia carry out to simulation of rescue a hijacked vessel during the joint naval drills held at the Port of Bandar Abbas near the Strait of Hormuz in Hormozgan, Iran on February 19, 2026.Anadolu | Anadolu | Getty Images "Everything is in place, or will be by Saturday night, for strikes to commence and so the window opens then," Daniel Shapiro, former U.S. ambassador to Israel, told CNBC's "Access Middle East" on Friday. "Doesn't mean that's going to happen immediately. The president did indicate that he is waiting to hear from Iran whether they are prepared to make concessions on their nuclear program that he's insisting on," Shapiro said. "I think it's unlikely. We have never seen Iran open to those types of concessions, so I think it is unlikely they will agree to those, which means that in the days coming, the president will have to make that decision on military strikes," he added. A 'very well supplied' market The Trump administration has said it still hopes to reach a diplomatic resolution over Tehran's nuclear program, with White House press secretary Karoline Leavitt saying on Wednesday that it would be "very wise" for Iran to make a deal. Martijn Rats, chief commodity strategist at Morgan Stanley, said that, while the oil market is "very well supplied" on a global basis, there are three factors propping up prices. "Worries about Iran, clearly. Also, an unusually large amount of buying by China, simply for stockpiling purposes. It makes you wonder what they are going to do with all these inventories and then also we have very high freight rates," Rats told CNBC's "Europe Early Edition" on Friday."The factor of those three that is most prominent, of course, is the issue in Iran," Rats said. watch nowVIDEO9:0409:04U.S. will keep key oil routes open, even if it strikes Iran - analystEurope Early Edition Strategists at Barclays said Friday that while equity markets have largely shrugged off the geopolitical noise so far, tensions have been rising since Vice President JD Vance accused Iran of failing to discuss so-called "red lines," alongside reports of increased U.S. military capability in the region. "We believe that any strike would likely have to be time limited and with defined targets (nuclear, ballistic missiles), as they were last summer," the strategists said in a research note. "With midterm elections later this year and the administration prioritizing affordability for US consumers, we suspect their willingness to tolerate a prolonged period of significantly higher oil prices, and potentially casualties too, will be limited," they continued. "So if conflict is imminent it is likely to be short lived, in our view."