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Stock market’s sell-off, foreclosures jump, new IRS guidelines and more in Morning Squawk

Stock market’s sell-off, foreclosures jump, new IRS guidelines and more in Morning Squawk

Traders work on the floor of the New York Stock Exchange (NYSE) on Nov. 13, 2025 in New York City. Spencer Platt | Getty Images This is CNBC’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Here are five key things investors need to know to start the trading day: 1. Red (The […]

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Billionaire families opt for buying sports teams over collecting art and cars

Billionaire families opt for buying sports teams over collecting art and cars

The New Jersey Devils celebrate after Simon Nemec #17 scores the game-winning-goal in double overtime of Game Three of the First Round of the 2025 Stanley Cup Playoffs against the Carolina Hurricanes at Prudential Center on April 25, 2025 in Newark, New Jersey. Andrew Maclean | National Hockey League | Getty Images A version of

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Fewer burritos, more bargains: Consumers flash holiday warning signs

Fewer burritos, more bargains: Consumers flash holiday warning signs

Shoppers walk through Manhattan on Nov. 7, 2025, in New York City. Spencer Platt | Getty Images High-income consumers are trading down, Gen Z is spending less, and low-income shoppers are still struggling, according to many consumer companies that shared their latest quarterly results in recent weeks. Those trends may not bode well for the

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Sotheby’s CEO sees ‘very strong demand’ ahead of .4 billion art auctions

Sotheby’s CEO sees ‘very strong demand’ ahead of $1.4 billion art auctions

The fall auction sales in New York next week are expected to top $1.4 billion, marking a 50% increase from last year and a potential rebound for the art market after three years of declines, according to art experts. A star-studded lineup of famous trophy works — from a $150 million Gustav Klimt portrait to

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Apple cuts App Store fee in half for ‘mini apps’ that integrate more of its software

Apple cuts App Store fee in half for ‘mini apps’ that integrate more of its software

Under the EU’s Digital Markets Act, Apple is required to allow developers to freely inform customers of alternative offers outside its App Store. Gabby Jones | Bloomberg via Getty Images Apple on Thursday said it would cut the company’s App Store fees from 30% to 15% for some app makers, if they enter into a

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Verizon chairman Mark Bertolini says the board ‘needed to act’ to revive company

Verizon chairman Mark Bertolini says the board ‘needed to act’ to revive company

Verizon chairman Mark Bertolini said Thursday that the company’s new CEO, former PayPal boss Dan Schulman, is working to revive Verizon from its period of share losses under former CEO Hans Vestberg. Bertolini, who is also the Oscar Health CEO and who was named Verizon chairman last month, told CNBC’s Becky Quick on “Squawk Box”

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Starbucks workers union launches strike in more than 40 cities on chain’s key holiday sales day

Starbucks workers union launches strike in more than 40 cities on chain’s key holiday sales day

Workers picket in front of a Starbucks outlet in New York City, U.S., Oct. 1, 2025. Brendan McDermid | Reuters Starbucks Workers United launched an open-ended strike in more than 40 cities Thursday on Red Cup Day, one of the chain’s biggest sales days of the year. The protest, which the union says involves more than

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