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President Donald Trump spoke about Taiwan after a two-day visit to China, where he said he discussed Iran, and trade deals with Chinese President Xi Jingping. View More

watch nowVIDEO7:1307:13Trump told Xi ‘I don’t talk about’ whether U.S. would defend Taiwan from ChinaSquawk Box President Donald Trump said that China and Taiwan "ought to both cool it" after his summit with Chinese leader Xi Jinping in Beijing.Trump, in an interview with Fox News that aired Friday afternoon, insisted that long-standing U.S. policy on Taiwan remains unchanged after his two days of meetings with Xi. The people of Taiwan should feel "neutral" about his visit, Trump said.But he also appeared to express some opposition to the prospect of the U.S. leaping to Taiwan's defense if it is attacked, while framing Taipei's decision to pursue independence from China as the deciding factor."I will say this: I'm not looking to have somebody go independent, and you know, we're supposed to travel 9,500 miles to fight a war," Trump said. "I'm not looking for that. I want them to cool down, I want China to cool down."He added that he has yet to approve a potential large sale of weapons to Taiwan: "I may do it, I may not do it.""We're not looking to have somebody say 'Let's go independent because the United States is backing us,'" Trump said."Taiwan would be very smart to cool it a little bit. China would be very smart to cool it a little bit. They ought to both cool it," he said.Earlier, Trump said he refused to directly answer Xi when asked if the U.S. would defend Taiwan against a Chinese attack."That question was asked to me today," Trump told reporters on Air Force One as they flew back to the United States from a two-day summit in Beijing."That question was asked to me today by President Xi. I said I don't talk about that," Trump said. Read more CNBC politics coverageGas tax holiday as Trump promises? Not so fast, trucking, construction industries sayTrump doesn't need Congress to restart Iran strikes: HegsethAnalysis: Iran war hangs over Trump's China trip — and his presidencyCongress members push Chinese auto parts ban before Trump China trip Trump's decision not to answer is in line with the U.S.' long-standing "One China" policy, which leaves the status of Taiwan, an island that Beijing claims as its own, undefined.The approach of "strategic ambiguity" leaves open whether Washington would come to Taipei's aid in the event of a Chinese attack.But since the U.S. began its war against Iran in late February, analysts have raised concerns that China is in a stronger position to attack Taiwan because of the movement of U.S. Navy carriers from the Indo-Pacific region to the Middle East and the depletion of American munitions as a result of their use against Iran."The Iran war has once again highlighted deficiencies in the U.S. defense industrial base. If the United States does not move quickly this time, it may have to learn this lesson — the hard way — against China in the Indo-Pacific," Seth G. Jones, president of the Defense and Security Department at the Center for Strategic and International Studies in Washington, wrote in an analysis published earlier this week.Trump's comments on Friday came in response to a reporter who had asked if the U.S. would defend Taiwan in the event of a Chinese attack."I don't want to say that," Trump replied."There's only one person that knows that. You know who it is? Me. I'm the only person," he said, before noting that Xi had asked the same question of him earlier.At the same time, he gave a vague response when asked about a pending arms sales package earmarked for Taiwan."We discussed the whole thing with the arms sales in great detail actually, and I'll be making a decision," he said. "But, you know, I think the last thing we need right now is a war that's 9,500 miles away." Chinese state media, which has been glowing about Trump's praise for the Chinese leader, has made no mention of Trump and his administration's conversations about Taiwan, which analysts say likely means the Chinese side did not like what was said. Secretary of State Marco Rubio told NBC News in an interview that the issue was raised, but that "U.S. policy on the issue of Taiwan is unchanged as of today."The issue of Taiwan took center stage on the first day of the two-day summit after Xi delivered a surprisingly stern message on Taiwan despite positive preliminaries about building stable ties and avoiding conflict. When the summit began, Xi pointedly warned Trump that the U.S. and China "will have clashes and even conflicts" if the long-standing issue of Taiwan's independence is mishandled.Xi told his American counterpart it could put "the entire relationship" between their two nations "in great jeopardy" if that issue is not "properly" handled, the Chinese state news outlet Xinhua reported on Thursday.Xi told Trump that "the Taiwan question" is "the most important issue in China-U.S. relations," Xinhua reported.In the run-up to the summit, there was an expectation that Beijing would press Trump to change the U.S.' official policy on Taiwan's status from "does not support" independence to "opposes" independence.The tweaked words would be more of a statement of the status of Taiwan, moving it more in line with Beijing's view and sending a message about U.S. security commitments in the region.Taiwan expert Bonnie Glaser, who this month co-authored an article in the journal Foreign Affairs, titled "Why China Waits: Beijing Is Playing a Long Game on Taiwan," told CNBC that there are strong reasons for Xi to hold off on an attack against Taiwan."The question is what would be the likely costs to China, even if they might be able to succeed in a military takeover," said Glaser, who is managing director of the Indo-Pacific program with the German Marshall Fund."The costs would be prohibitive. There is no certainty of success. And the costs of failure are very high — including threatening the CCP's [Chinese Communist Party] legitimacy," Glaser said. "The massive purges in the PLA [People's Liberation Army] suggests that Xi is not prepared to use force in the near future.""The PLA's readiness has likely been significantly affected by the purges," she said. 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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CNBC's Jim Cramer warned that rising bond yields could threaten the stock market rally and reduce the chances of interest rate cuts. View More

watch nowVIDEO3:3203:32A smart bull needs to recognize when the facts change, says Jim CramerMad Money with Jim Cramer CNBC's Jim Cramer said Friday that stock investors need to remember the bond market is in the driver's seat at the moment — a dynamic that looms large ahead of key earnings reports next week. "The bond market's wrath can smackdown any stock market no matter how robust," said the "Mad Money" host.On Friday, Treasury yields jumped higher as oil prices surged after President Donald Trump told Fox News that he is "not going to be much more patient" with Iran, adding that "they should make a deal." Concerns about inflation also diminished hopes for interest-rate cuts from the Federal Reserve, Cramer noted. "We need a tame bond market for stocks to keep advancing, which means we need oil to come down, and that's not happening unless we get an end to the war," he said. Cramer said that in addition to triple-digit oil and one-year highs for the benchmark 10-year Treasury yield, signs of speculative excess in recent IPOs require a more cautious stance toward equities. "You know haven't been a doomer...I haven't been a bear at all. But a smart bull needs to recognize when the facts change and I'm very worried that we're headed for the kind of reckless flood of IPOs that always leads to heartbreak," Cramer said. "We aren't there yet. But we need to be wary of the possibility and we need to protect our gains." With that, Cramer turned to the week ahead. Monday The head of Caterpillar's power and energy business, which is benefitting from the data center construction boom, is meeting with Wall Street. While Cramer said he loves the company, he warned the stock's valuation looks overheated after a major run. "It's like a tech stock," he said. Tuesday Home Depot — a holding in Cramer's Charitable Trust, the portfolio used by the CNBC Investing Club —reports after struggling under the weight of higher rates. Cramer isn't expecting much, but said results that are "not terrible" could spark a relief rally. Vertiv Holdings, a major data center infrastructure player, could post a huge number, Cramer said, though expectations are already elevated after a massive stock run. After the close, Cramer's "favorite homebuilder" Toll Brothers reports. With its focus on luxury homes, Cramer said it's a decent time for Toll but rising mortgage rates make it tough to own any homebuilding stocks. Wednesday Cramer expects Lowe's, which reports in the morning, to potentially outshine Home Depot given its greater exposure to do-it-yourself consumers in a weak housing market. After the bell, the spotlight shines on Nvidia. "If the data center is the most important piece of this economy…then Nvidia is at the heart of the data center," Cramer said. He reiterated his long-held view that investors should own, not trade, the stock. Cramer's Charitable Trust has owned Nvidia since 2019. Still, after its massive run, Cramer said Nvidia will likely need a "perfect quarter" to move meaningfully higher. He said he thinks it may deliver one. Thursday Walmart reports, and Cramer remains bullish. "I remain convinced that Walmart is one of the greatest companies of the era," he said, praising its broad appeal and value proposition. Software company Workday also reports as investors debate whether artificial intelligence will disrupt traditional software-as-a-service businesses. While Cramer said he doesn't expect weak results, he warned investors remain skeptical about software names. Friday BJ's Wholesale Club reports. Cramer said there may be a catch-up opportunity in the smaller retailer, though Costco remains his long-term favorite. Costco is also a holding in the Charitable Trust. watch nowVIDEO13:0513:05Jim Cramer looks ahead to next week's market game planMad Money with Jim Cramer Jim Cramer's Guide to InvestingClick here to read Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest smarter Sign up now for the CNBC Investing Club to follow Jim Cramer's every move in the market.DisclaimerQuestions for Cramer? Call Cramer: 1-800-743-CNBCWant to take a deep dive into Cramer's world? Hit him up! Mad Money Twitter - Jim Cramer Twitter - Facebook - InstagramQuestions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

US authorities on Friday arrested Kata’ib Hizballah commander Mohammad Baqer Al-Saadi over alleged Iran-linked terror plots targeting New York, Los Angeles and Scottsdale. DOJ says he coordinated attacks across Europe and Canada and faces six terrorism-related charges. View More

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Trump bought shares of Amazon, Meta, Oracle, Broadcom, Motorola and Dell worth millions, new ethics disclosure filings show. View More

In this articleNVDAMSFTAMZNMETANOWTXNDELLFollow your favorite stocksCREATE FREE ACCOUNT President Donald Trump speaks during a law enforcement leaders dinner celebrating the start of National Police Week in the Rose Garden at The White House in Washington, May 11, 2026.Aaron Schwartz | Bloomberg | Getty Images President Donald Trump reported thousands of financial transactions totaling hundreds of millions of dollars — including large purchases and sales of tech giants Nvidia, Microsoft, Amazon and Meta — in the first three months of 2026, new disclosure forms reveal.Trump's filings with the U.S. Office of Government Ethics show more than 3,700 transactions, with the total amount for each listed as a range rather than an exact figure.The transactions, which became public on Thursday, are valued at between $220 million and $750 million cumulatively, according to Reuters.Trump's biggest purchases and sales skewed toward the tech sector, the filings showed.Among three dozen transactions valued between $1 million and $5 million in the first quarter of 2026, Trump bought securities of ServiceNow, Nvidia, Adobe, Microsoft, Oracle, Broadcom, Motorola, Amazon, Texas Instruments and Dell, the filings show.Trump's four largest sales in that period were also tech-heavy: He sold between $5 million and $25 million worth of Microsoft, Amazon and Meta securities on Feb. 10, according to the documents. Dozens of other transactions took place that same day.The timing of some of the president's transactions overlapped with news from the companies whose stock he was buying or selling, the news outlet NOTUS reported Thursday.One week after Trump's Feb. 10 purchase of between $1 million and $5 million of Nvidia stock, for instance, that company announced a major chip deal with Meta. The president also bought between $500,000 and $1 million worth of Nvidia stock one week before the Commerce Department officially approved the sale of some Nvidia chips to China, NOTUS reported.The filings did not say if Trump directed any of the trades himself. Some of the transactions are described in the documents as "unsolicited," though that designation was unclear. OGE did not immediately respond to CNBC's request for clarification. Read more CNBC politics coverageGas tax holiday as Trump promises? Not so fast, trucking, construction industries sayTrump doesn't need Congress to restart Iran strikes: HegsethAnalysis: Iran war hangs over Trump's China trip — and his presidencyCongress members push Chinese auto parts ban before Trump China trip White House spokesman Davis Ingle, in a statement to CNBC, said the president's assets are held in a trust managed by his children."There are no conflicts of interest," Ingle said in the statement. "President Trump only acts in the best interests of the American public — which is why they overwhelmingly re-elected him to this office, despite years of lies and false accusations against him and his businesses from the fake news media."Presidents are not prohibited from holding or trading stocks while in office, but they are required to report their transactions. Trump's annual financial disclosure is expected to come out later this year.The latest filings only required Trump to disclose transactions of securities above $1,000. The forms also specified that filers do not need to disclose certain financial assets, such as mutual funds or other investment funds, U.S. Treasury bonds and property. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

ABC News reported President Donald Trump could settle a lawsuit against the IRS in exchange for a $1.7 billion fund to compensate his allies. View More

U.S. President Donald Trump speaks in front of the American flag to the press as he departs the White House on May 12, 2026 in Washington, DC. Kevin Dietsch | Getty Images Democratic lawmakers on Friday slammed the Trump administration over reports that President Donald Trump would drop his $10 billion lawsuit against the Internal Revenue Service in an exchange for what some called a $1.7 billion "slush fund.""This administration is dripping with corruption from top to bottom, but rushing a settlement to steal $1.7 billion taxpayer dollars for a slush fund before a judge can toss your junk lawsuit would be among the most corrupt acts in American political history," Sen. Ron Wyden, D-Ore., the top Democrat on the Senate Finance Committee."This lawsuit has never been anything more than a shakedown of the American people by a crook president and his crook lawyers," Wyden said.Trump, his two eldest sons, and his family business sued the IRS and the Treasury Department in U.S. District Court for the Southern District of Florida over the 2019 leak of the president's tax returns. It was an unprecedented move that raised concerns about conflicts of interest at the time. Read more CNBC politics coverageGas tax holiday as Trump promises? Not so fast, trucking, construction industries sayTrump doesn't need Congress to restart Iran strikes: HegsethAnalysis: Iran war hangs over Trump's China trip — and his presidencyCongress members push Chinese auto parts ban before Trump China trip ABC News, citing sources familiar with the situation, reported on Thursday that Trump and the IRS could settle his lawsuit in exchange for a compensation fund that could be used to compensate the president's allies who claim to have been wrongfully targeted by the Biden administration.The New York Times reported on Tuesday that the Justice Department was considering settling Trump's IRS suit, also citing sources familiar.The agreement could involve the exchange of taxpayer funds or another public benefit to Trump and the end of any audit into Trump, his family, and business, the Times reported.The White House did not immediately respond to a request for comment on Friday.News of the potential settlement comes ahead of a May 20 deadline set by U.S. District Court Judge Kathleen Williams, who asked the Justice Department and Trump's legal team to explain whether the case with the president on both sides can even be heard by a federal court."(A)lthough President Trump avers that he is bringing this lawsuit in his personal capacity, he is the sitting president and his named adversaries are entities whose decisions are subject to his direction," Williams wrote in a court filing in April. "It is unclear to this Court whether the Parties are sufficiently adverse to each other so as to satisfy" the constitutional requirement that federal cases only adjudicate cases or controversies.Williams' comment came after attorneys for both Trump and the IRS requested a 90-day pause in proceedings as they sought a resolution."Trump is 'dropping' his bogus lawsuit against the IRS in exchange for a slush fund, courtesy of your tax dollars, that he can use to pay off his political allies," Sen. Chris Van Hollen, D-Md., posted to X on Friday. "While people drown in high prices & inflation — Trump's lining his & his buddies' pockets.  We will fight this," Van Hollen wrote.The exact terms of any settlement have not been finalized, but it could include a victim compensation fund as well as a truth-and-reconciliation-style commission that could vote to issue monetary rewards, ABC News reported. "Donald Trump is orchestrating a $1,700,000,000 fraud on the American taxpayer to line the pockets of his MAGA political allies, another installment in his ongoing effort to turn the federal government into a personal cash machine for his unpopular extremist movement," said Rep. Jamie Raskin, D-Md., the top Democrat on the House Judiciary Committee. "This is a massive and unprecedented presidential plunder of the American people." Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

The fed funds futures market is pricing in an increase as soon as December. View More

Construction on the Marriner S. Eccles Federal Reserve building in Washington, DC, US, on Monday, Dec. 15, 2025. Al Drago | Bloomberg | Getty Images Markets for the first time in the current cycle now think the Federal Reserve's next move will be an interest rate hike.Following a week of surprisingly high inflation readings, traders in the fed funds futures market are pricing in an increase as soon as December, with a much higher certainty into the early part of 2027, according to the CME Group's FedWatch tool.A December hike has a nearly 51% probability, while a move higher by January carries about a 60% probability with March coming in at better than 71%, according to the measure, which uses prices on 30-day federal funds futures contracts to gauge probabilities.The move comes near the close of a week where both consumer and wholesale inflation posted multiyear highs. Import and export prices also were at levels not seen since the last inflation spike, a period that prompted aggressive Fed rate hikes that started with four consecutive moves in three-quarter percentage point increments in 2022.Former Fed Governor Kevin Warsh takes over the helm of the Fed as of Friday and has indicated he thinks the central bank actually can lower rates in the current environment. At the last Federal Open Market Committee meeting, three members dissented from a vote to hold benchmark rates steady as they objected to language hinting that the next move would be a cut.Economists participating in the Survey of Professional Forecasters think second-quarter inflation will top out at 6%, a huge boost from the last estimate, according to a release on Friday. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading. View More

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Stocks pulled back on Friday, but the S & P 500 is still on pace for its seventh straight positive week. The market moved lower in response to a huge bond selloff, which pushed the 10-year Treasury yield to roughly 4.6%. The 30-year Treasury yield topped 5.1%, its highest level since last May. Bond prices and yields move inversely. Oil climbed, with West Texas Intermediate crude pushing back above $105 per barrel. The rise in market interest rates, reflected in bond yields, and rising oil prices was a catalyst for profit-taking across the red-hot AI trade, with stocks like portfolio names Arm Holdings , Nvidia, Qnity Electronics, Broadcom , Corning, and Eaton giving back recent gains. The five biggest gainers in the portfolio this week were Palo Alto Networks, CrowdStrike , Qnity, Nvidia , and Cardinal Health . Our cybersecurity names were big winners after the market realized AI is an accelerant to their industry, not a replacement. A blog post published by Palo Alto Networks on Wednesday estimated that organizations have three to five months to take action now before AI-driven exploits become the new norm. Qnity had a great week after reporting a strong beat and raise . Nvidia made a new record high on Thursday due to enthusiasm for AI spending. Plus, investors viewed CEO Jensen Huang joining President Donald Trump on his trip to China as a positive sign for the likelihood that Chinese companies could resume purchasing chips. Cardinal Health finally put together a positive week on some encouraging prescription medication volume data. The five biggest losers in the portfolio this week were Boeing , Home Depot, Dover , Salesforce, and Amazon . Boeing rallied ahead of the China meeting in anticipation of a big order, but the 200 jet deal Trump announced lacked details and was below the expectation of 500. Many consumer discretionary stocks sold off this week on renewed inflation concerns, but Home Depot was hit especially hard as rising mortgage rates threaten to keep the housing market frozen. Dover fell for unclear reasons. It was actually a little surprising to see the industrial stock so low on the list. But higher rates could slow industrial activity, and short-cycle industrial companies are usually the first to feel the impact. Dover is coming off a quarter in which orders surged, and management said that demand continued in April, so we're not making any decisions on the stock yet. Salesforce 's strong Friday couldn't make up for its bad start to the week. In the current environment, traditional software stocks tend to have an inverse relationship with the AI trade. Finally, Amazon slipped from its record high made last Thursday. Even though its Amazon Web Services (AWS) cloud continues to perform exceptionally well, concerns about weaker consumer spending weighing on the retail side of its business pressured the stock. A big week of earnings is ahead, with several consumer names and Nvidia scheduled to report. Within the portfolio, Home Depot reports Tuesday before the open, off-price retailer TJX reports Wednesday morning, and Nvidia reports after Wednesday's closing bell. Other key names reporting are Walmart, Target, Toll Brothers, Cava Group, Analog Devices, VF Corp, Intuit, Deere, Take-Two Interactive, Workday, BJ's Wholesale, and Ralph Lauren. On the data side, we get weekly jobless claims, April pending home sales, housing starts, and building permits, S & P Global U.S. Manufacturing and Services PMIs (purchasing managers' indexes), and the latest University of Michigan survey of consumer sentiment and 1-year inflation expectations. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) 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.

China relies heavily on crude oil imports from the Middle East but those supplies are mostly cut off due to Iran's blockade of the Strait of Hormuz. View More

watch nowVIDEO5:5305:53Energy Secretary Chris Wright: China will be buying more U.S. crude oil because of IranSquawk Box China will ramp its crude oil imports from the United States because the world's two largest economies are natural trade partners when it comes to energy, Chris Wright told CNBC on Friday. China is the largest oil importer in the world and the U.S. is the biggest producer. "There's a natural energy trade there," the U.S. Energy secretary told CNBC's Brian Sullivan in an interview in Port Arthur, Texas. China relies heavily on the Middle East for its oil imports. Exports from the Persian Gulf have mostly been cut off for weeks now due to Iran's blockade of the Strait of Hormuz. Beijing has a massive strategic reserve that has helped it weather disruption so far. "I suspect we'll see a growth in their oil imports from the United States," Wright told CNBC. China and other Asian buyers will eventually buy more oil from Alaska as the Trump administration ramps up production there, Wright said. For now, Beijing will import more oil from the U.S. Gulf Coast, he said. President Donald Trump told Fox News earlier that China had agreed to buy more oil from the U.S. Beijing so far has not confirmed whether there is such an agreement with the U.S. "They've agreed they want to buy oil from the United States, they're going to go to Texas, we're going to start sending Chinese ships to Texas and to Louisiana and to Alaska," Trump told Fox News. The U.S. president met with President Xi Jinping for a summit in Beijing this week. Hormuz will lose its importance: WrightHormuz will decline in significance due to Iran's blockade of the sea lane, Wright said. "This is a card you can play once," the Energy secretary said of Iran's disruption to the strait.About 20% of world oil supplies passed through the sea lane before the U.S. and Israel attacked Iran on Feb. 28. Iran's blockade of Hormuz in response has triggered the largest energy supply disruption in history and deeply impacted the economies of the Gulf Arab states. The Gulf states will build more pipelines to bypass Hormuz after the war, Wright said. The United Arab Emirates already plans to accelerate the construction of a new West-East pipeline that bypasses Hormuz."There'll be other routes for energy to get out of the Persian Gulf," Wright said. "We will see a decreasing importance from the Strait of Hormuz, but not a decreasing importance of those nations' energy production and energy supply." Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.