CNBC

CNBC's Jim Cramer on Tuesday said that as stocks surged on the day, he's looking for potential signs that the bear market rally becomes a genuine recovery in stock prices. With the major indices each closing over 2.5% higher on Tuesday, Cramer said he heard plenty of skepticism that the markets would continue soaring rather than reverting back to sell-off mode in the coming days. While he acknowledged the possibility of a resumption in stock declines, he said recoveries always start as bear market rallies before becoming something more. President Donald Trump's assertion after the market close Tuesday that he won't fire Federal Reserve chair Jerome Powell is already likely to catapult stocks higher on Wednesday, Cramer said. Click here to download Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest smarter.

Tesla CEO Elon Musk began his company's earnings call on Tuesday by saying that his time spent running President Donald Trump's Department of Government Efficiency will drop "significantly" starting in May. Musk, who has watched Tesla's stock tumble by more than 40% this year, said he'll continue to support the president with DOGE "to make sure that the waste and fraud that we stop does not come roaring back." After spending almost $300 million in the 2024 campaign to help return Trump to the White House, Musk created DOGE and joined the administration with a mission to drastically reduce the size and capability of the federal government.

Public schools across the United States are facing a financial reckoning in 2025 as federal pandemic relief funds expire and student enrollment continues to decline, according to data from the Georgetown Edunomics Lab. Find the full report: cnb.cx/4lIkNGq

President Donald Trump on Tuesday said he has “no intention” of firing Federal Reserve Chair Jerome Powell before his term leading the U.S. central bank expires next year. Find more: cnb.cx/3Gmm8Cz

Bill Ford, General Atlantic chairman and CEO discusses the ongoing TikTok negotiations. Watch the full interview: cnb.cx/3RwCZoK

One of America's most fragrant retailers is well-positioned in the face of tariffs. Bath & Body Works produces 80% of its products in the United States. The candle maker and personal care company has been incrementally shifting its production to the U.S. for more than a decade. Find the full report on what analysts believe is in store for Bath & Body Works: cnb.cx/3GgjcaL

The Food and Drug Administration is phasing out the use of petroleum-based synthetic dyes by the end of next year, the agency announced on Tuesday. Full details: cnb.cx/4cJukJj

Tesla and CEO Elon Musk are struggling with negative perceptions, according to the CNBC All-America Economic survey. cnb.cx/4jo0896

DETROIT – Six of the top policy groups representing the U.S. automotive industry are uncharacteristically joining forces to lobby the Trump administration against 25% tariffs on auto parts that are set to take effect by May 3. The group – representing franchised dealers, suppliers and nearly all major automakers – say in a letter to Trump administration officials that the upcoming levies could jeopardize U.S. automotive production. The letter notes many auto suppliers are already "in distress" and wouldn't be able to afford the additional cost increases, leading to broader industry problems. "Most auto suppliers are not capitalized for an abrupt tariff induced disruption. Many are already in distress and will face production stoppages, layoffs and bankruptcy," the letter reads. "It only takes the failure of one supplier to lead to a shutdown of an automaker's production line. When this happens, as it did during the pandemic, all suppliers are impacted, and workers will lose their

With the IRS expected to lose about a third of its staff after firings and buyouts, wealthy taxpayers and attorneys are struggling to navigate the new regime. The upside for high earners is clear: Fewer agents means fewer audits and reviews. But at the same time IRS audits and enforcement fall, accountants and tax lawyers say it’s likely the agency will have less capacity to provide decisions or paperwork that can solve a tax problem. Full story: cnb.cx/3S5qznK