CNBC Daily Open: High interest rate worries pressure stocks
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U.S. markets mixed on October 21, 2024; Nasdaq Composite rose while S&P 500 and Dow Jones fell, ending Dow's three-day winning streak; 10-year Treasury yield increased by almost 12 basis points to around 4.19%; Hyundai Motor India's shares fell over 5% on debut after IPO raised $3.3 billion; gold prices reached record high of $2,700 per ounce with predictions to hit $3,000 in 6-9 months; U.S. reviewing investment restrictions in key technologies in China, final rules expected soon; inflation decreased from 9.1% in June 2022 to 2.4% in September 2024; Minneapolis Fed President Neel Kashkari noted the economy's resilience despite rate hikes.

#Stocks #InterestRates #Gold #Economy #Ipo #Hyundai #TreasuryYield #Inflation #China #Biotechnology

https://www.cnbc.com/2024/10/22/cnbc-daily-open-high-interest-rate-worries-pressure-stocks.html


Here’s why inflation may look like it’s easing but is still a huge problem
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Inflation measures have eased, but high prices persist; food inflation surged 22% since early 2021; eggs up 87%, auto insurance up nearly 47%, gasoline up 16%; current debt delinquency rate at 2.74%, highest in 12 years; Fed's interest rate decision on Nov. 6-7; CPI inflation at 2.4% in September, down from 9.1% in June 2022; inflation first exceeded 2% in March 2021; median home price up 16% since Q1 2021; sticky price inflation at 4% in September; household debt at $20.2 trillion, up 19% since Q1 2021; small business credit card usage up 20% compared to pre-pandemic; 23% of small firms cite inflation as main problem; Fed cut interest rates by 50 basis points in September; markets indicate higher rates despite cuts; Atlanta Fed President Raphael Bostic considers a pause in cuts; Fed President Mary Daly emphasizes vigilance on inflation.

#Inflation #Economy #FederalReserve #Debt #ConsumerSpending #InterestRates #Cpi #Pce #Housing #SmallBusiness

https://www.cnbc.com/2024/10/19/why-inflation-may-look-like-its-easing-but-is-still-a-huge-problem.html


S&P 500 climbs to record as Nvidia pops to fresh all-time high: Live updates
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On October 17, 2024, the S&P 500 rose 0.3% to a new intraday record, driven by semiconductor stocks; Nvidia increased by 3% to an all-time high of $140.89, surpassing its previous high of $140.76 from June 20; Taiwan Semiconductor reported strong Q3 results, boosting its shares by 13% and Nvidia's performance; September retail sales rose 0.4%, exceeding the 0.3% forecast, with jobless claims lower than expected; Travelers stock surged 8% after beating Q3 expectations; 66 S&P 500 stocks reached new 52-week highs; Lucid shares fell over 15% after announcing a public offering; ECB cut its key deposit rate by 25 basis points to 3.25%; TS Lombard expressed confidence in central banks' ability to manage inflation.

#S&p500 #Nvidia #TaiwanSemiconductor #RetailSales #StockMarket #Ecb #Travelers #Lucid #EconomicData #Investing

https://www.cnbc.com/2024/10/16/stock-market-today-live-updates.html


CNBC Daily Open: The economy and inflation might stay strong
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On October 15, 2024, the Dow Jones Industrial Average closed above 43,000 for the first time, with the S&P 500 up 0.77% and the Nasdaq Composite rising 0.87%. Nvidia's stock reached a record high of $138.07, boosting Asian chip stocks. Fed Governor Christopher Waller indicated a potential slowdown in interest rate cuts due to strong economic data. Boeing's strike has cost over $1 billion, with CEO Kelly Ortberg announcing 17,000 job cuts and a delay in the 777X plane delivery until 2026. Deutsche Bank's Henry Allen warned of high inflation risks, while Bank of America’s Ohsung Kwon noted that strong retail sales could support the 'no landing' economic narrative.

#Economy #Inflation #StockMarket #FederalReserve #Boeing #Nvidia #RetailSales #InterestRates #Employment #GlobalMarkets

https://www.cnbc.com/2024/10/15/cnbc-daily-open-the-economy-and-inflation-might-stay-strong-.html


Trump to move fast on tariffs, says Wall Street firm, citing clients who met with ex-trade chief
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Robert Lighthizer, former U.S. Trade Representative, informs Wall Street that Trump could implement tariffs quickly if reelected; Trump proposes 60% tariffs on Chinese imports and 10% across-the-board tariffs; Lighthizer is a key advisor and potential cabinet member; Trump's tariffs are seen as a way to fund tax cuts and reshape the economy; Economists warn tariffs could raise prices and hurt GDP; Kamala Harris cites potential $4,000 tax increase for families due to tariffs; Trump claims tariffs will not raise consumer prices; Analysts expect quicker tariff implementation in a second Trump term.

#Trump #Tariffs #Lighthizer #Economy #2024Election #Harris #Trade #PiperSandler #China #Republican

https://www.cnbc.com/2024/10/12/trump-trade-tariffs-lighthizer-election-china.html


Dow rises more than 300 points, S&P 500 rises to record as market shakes off October malaise: Live updates
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On October 9, 2024, the Dow Jones Industrial Average surged 390 points (0.9%), while the S&P 500 and Nasdaq Composite rose 0.4% and 0.6%, respectively; technology stocks like Microsoft, Amazon, and Apple each gained 1%; the S&P 500 reached a new record; the Federal Reserve's September meeting minutes indicated a majority favored a half-point rate cut; the S&P 500 information technology sector gained over 30% year-to-date; the China Shenzhen Index fell 8.7%, marking its worst day since May 1997; earnings season begins on October 11 with JPMorgan Chase and Wells Fargo; Dallas Fed President Lorie Logan advocated for gradual rate cuts; Canaccord Genuity noted a potential fourth-quarter rally; 32 S&P 500 stocks hit new 52-week highs; the yield curve steepening raises concerns for stock market corrections.

#StockMarket #S&p500 #DowJones #TechnologyStocks #FederalReserve #China #EarningsSeason #Inflation #GeopoliticalConcerns #EconomicIndicators

https://www.cnbc.com/2024/10/08/stock-market-today-live-updates.html


CNBC Daily Open: Stocks’ choppiness in October can be an opportunity
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U.S. stocks rebounded on October 8, 2024, with major indexes rising; Nasdaq Composite led the rally, boosted by technology stocks; European Stoxx 600 index fell 0.55% due to China's anti-dumping measures on EU brandy; Crude oil prices dropped 4.63% amid geopolitical tensions; GM projects $13 billion to $15 billion in adjusted earnings for 2024; Hindenburg Research accused Roblox of misleading user metrics, which Roblox denied; Third-quarter earnings season begins with JPMorgan Chase reporting on October 11; S&P 500 rose 0.97% after a 0.96% drop; October is historically volatile, but experts suggest it presents buying opportunities; Robert Sluymer from RBC Wealth Management and Craig Johnson from Piper Sandler encourage investors to maintain perspective on long-term trends.

#Stocks #Investing #October #MarketAnalysis #Earnings #Technology #OilPrices #Roblox #Gm #EconomicOutlook

https://www.cnbc.com/2024/10/09/cnbc-daily-open-stocks-choppiness-in-october-can-be-an-opportunity.html


S&P 500 rebounds from Monday's decline as oil prices ease: Live updates
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On October 8, 2024, the S&P 500 gained 0.9%, Nasdaq Composite rose 1.3%, and Dow Jones added 130 points (0.3%) after a decline on Monday; oil prices dropped nearly 4% amid tensions in the Middle East; energy stocks fell nearly 3%, with Marathon Petroleum and Valero Energy down at least 4% each; technology shares saw gains, with Nvidia up 3% and Broadcom up 2%; Hurricane Milton expected to depress gasoline demand; gold prices fell for the fifth consecutive session; MSCI China ETF down 10.7%, marking its worst day since 2011; BTIG downgraded American Express to sell; U.S. trade deficit fell 10.8% in August to $70.4 billion; Federal Reserve Governor Adriana Kugler noted potential economic impacts from storms and geopolitical events.

#S&p500 #StockMarket #OilPrices #HurricaneMilton #Gold #ChinaEtf #AmericanExpress #TradeDeficit #FederalReserve #EconomicAnalysis

https://www.cnbc.com/2024/10/07/stock-market-today-live-updates.html


US Top News and Analysis
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Stock futures inch higher as traders await jobs report due later this week; Dow futures at 42,499.00 (-11.00, -0.03%); S&P futures at 5,757.75 (-2.50, -0.04%); NAS futures at 19,990.50 (-19.25, -0.10%); Biden won't intervene in port strike; Levi Strauss trims guidance; Citi names 3 U.S. stocks to benefit from China's stimulus; Israel may retaliate against Iran oil infrastructure; OpenAI valued at $157 billion; Tesla stock slips after missing delivery estimates.

#StockMarket #Futures #EconomicReport #LeviStrauss #Biden #Israel #Openai #Tesla #Citi #China

https://www.cnbc.com/


S&P 500 is little changed as shaky October start continues on escalating Middle East tensions: Live updates
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The S&P 500 was little changed on October 2, 2024, adding 0.1% amid rising Middle East tensions; the Nasdaq Composite rose 0.2%, and the Dow Jones Industrial Average added 57 points; Tesla shares fell 3% after reporting 462,890 deliveries, below the expected 463,310; Nike shares dropped 6% after withdrawing full-year guidance; Humana's stock plummeted over 20% due to poor Medicare Advantage data; Richmond Fed President Thomas Barkin expressed caution about economic uncertainty; ADP reported 143,000 private payroll jobs added in September, exceeding expectations; energy stocks outperformed, with the Energy Select Sector SPDR Fund on track for its fourth straight winning day; oil prices rose nearly 3% due to fears of conflict escalation.

#S&p500 #MiddleEast #Tesla #Nike #Humana #OilPrices #Adp #Barkin #EconomicData #EnergyStocks

https://www.cnbc.com/2024/10/01/stock-market-today-live-updates.html


A historic strike is underway at U.S. ports — and the impact on global supply chains could be huge
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A dockworker strike at U.S. East and Gulf Coast ports began on October 1, 2024, affecting 14 major ports and involving about 45,000 workers from the International Longshoremen’s Association (ILA); the strike is over wages and automation, following failed negotiations with the United States Maritime Alliance (USMX) before a September 30 deadline; Peter Sand from Xeneta warns that over 40% of containerized goods enter the U.S. through these ports, leading to potential shortages of products like fresh fruit; Maersk predicts a one-week shutdown could cause recovery delays of four to six weeks; economist Bradley Saunders suggests President Biden may intervene to prevent major disruptions; the Taft-Hartley Act allows the president to suspend strikes for national health or safety concerns.

#Strike #Ports #SupplyChain #Economy #Labor #Shipping #Us #Ila #Maersk #Biden

https://www.cnbc.com/2024/10/01/what-a-lengthy-us-port-strike-could-mean-for-global-supply-chains.html


East and Gulf Coast ports strike, with ILA longshoremen walking off job, stranding billions in trade
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Approximately 50,000 ILA union longshoremen began striking at East Coast and Gulf Coast ports at 12:01 a.m. ET on October 1, 2024, after failing to reach a new contract agreement with USMX; the strike affects 14 major ports including New York/New Jersey and Charleston, handling 43%-49% of U.S. imports; ILA rejected a nearly 50% wage hike offer over six years; New York Governor Kathy Hochul emphasized the need for a fair agreement; the strike could cost the U.S. economy $3.78 billion per week, with significant impacts on food and automobile industries; the Biden administration is involved in negotiations but has ruled out using the Taft-Hartley Act to intervene; the last ILA strike occurred in 1977.

#Ila #Strike #Ports #Usmx #Economy #Trade #Labor #Wages #Biden #Shipping

https://www.cnbc.com/2024/10/01/east-coast-ports-strike-ila-union-work-stop-billions-in-trade.html


With ports strike imminent on East Coast, Gulf, truckers, rails are scrambling to move billions in cargo before midnight shutdown
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A strike by the International Longshoremen’s Association (ILA) is set to begin at 12:01 a.m. ET on October 1, 2024, affecting 14 major ports including New York/New Jersey, Baltimore, and Norfolk; nearly $14 billion in trade arrived at these ports last week, with $2.7 billion arriving on Friday alone; 54,456 TEUs were processed on Friday, valued at approximately $2.7 billion; the ILA represents 85,000 members and has suspended negotiations since June; the Biden administration has urged both parties to reach an agreement but will not intervene using the Taft-Hartley Act; a strike could cost the U.S. economy tens of billions of dollars, with potential daily impacts of $641 million for New York/New Jersey and $600 million for Virginia; major importers like Walmart, Amazon, and Anheuser-Busch are at risk of supply chain disruptions; logistics executives warn that delays could worsen post-strike, echoing past supply chain breakdowns during COVID-19.

#Ports #Strike #Economy #Logistics #Trade #Shipping #Ila #BidenAdministration #SupplyChain #Importers

https://www.cnbc.com/2024/09/30/ports-strike-truckers-rails-billions-in-cargo-shutdown.html


Are immigrants taking jobs from 'native' U.S. workers? Here's what economists say
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Immigration is a key issue in the 2024 U.S. presidential election; Donald Trump claims immigrants take jobs from U.S.-born workers; 82% of Trump supporters view immigration as very important; Pew Research Center surveyed 9,720 U.S. adults from Aug. 26 to Sept. 2, 2024; economists argue immigrants benefit the economy and job market; a 2020 NBER study found immigrants are 80% more likely to become entrepreneurs; CBO predicts a $8.9 trillion GDP increase from immigration over the next decade; immigrants made up 14% of the U.S. population in 2022; undocumented immigrants accounted for 3.3% of the total U.S. population; net immigration expected to be 8.7 million higher from 2021 to 2026; immigrant labor helped alleviate staffing shortages and inflationary wage pressures; consensus among economists is that immigration does not significantly affect overall employment levels; George Borjas' study on the Mariel boatlift found wage drops for high school dropouts; contrasting views exist among economists regarding the impact of immigration on wages; native workers and immigrants often complement each other in job roles.

#Immigration #Economy #Jobs #Trump #2024Election #LaborMarket #Wages #Economists #Gdp #PewResearch

https://www.cnbc.com/2024/09/28/are-immigrants-taking-jobs-from-us-workers-heres-what-economists-say.html


S&P 500 rises to record on solid economic data, tech stock gains: Live updates
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On September 26, 2024, the S&P 500 rose 0.2% to a record high, driven by a 17% surge in Micron Technology following strong quarterly results and guidance. The Nasdaq Composite increased by 0.3%, and the Dow Jones Industrial Average gained 202 points (0.4%). Weekly jobless claims fell to 218,000, and durable goods orders remained unchanged, supporting a steady economy. The S&P 500 has reached all-time highs over 20% of trading days in 2024. Super Micro Computer shares dropped over 10% amid a DOJ investigation. Wells Fargo predicts Fed rate cuts could boost market opportunities in 2025, while Trump’s trade proposals may increase inflation.

#S&p500 #MicronTechnology #EconomicData #StockMarket #DowJones #Nasdaq #WellsFargo #Trump #Inflation #SuperMicroComputer

https://www.cnbc.com/2024/09/25/stock-market-today-live-updates.html


Kamala Harris likely to win election, despite Trump being better on inflation, economy: CNBC CFO survey
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A CNBC survey reveals 55% of CFOs believe Kamala Harris will win the presidential election, a shift from Q2 when 58% believed Trump would win; 55% of CFOs think Trump is better on inflation and the economy, while only 17% favor Harris's economic plan; the survey was conducted from August 19 to September 19, 2024, with 31 CFOs responding; Harris is focusing on middle-class economic opportunities and has received support from business leaders like Mark Cuban; Trump proposes expanding R&D tax credits; CFOs expect a divided government post-election, with 74% predicting split control.

#KamalaHarris #DonaldTrump #CfoSurvey #Economy #Inflation #2024Election #Business #Polling #R&dTaxCredits #Politics

https://www.cnbc.com/2024/09/26/harris-trump-election-inflation-economy-cnbc-cfo-survey.html


Treasury yields rally as investors await Fed speeches and a fresh batch of economic data
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U.S. Treasury yields increased on September 24, 2024; 10-year Treasury yield rose to 3.791%, 2-year yield to 3.605%; yields and prices inversely related; 10-year yield up almost 8 basis points after Fed's 50 basis point rate cut; Minneapolis Fed President Neel Kashkari anticipates slower rate cuts; Fed Governors Michelle Bowman and Adriana Kugler to speak on economic outlook; July home prices, September consumer confidence, and Richmond Fed surveys data to be released on September 24.

#TreasuryYields #FederalReserve #EconomicData #InterestRates #Investing #Finance #MarketTrends #UsEconomy #NeelKashkari #FedSpeeches

https://www.cnbc.com/2024/09/24/us-bonds-treasury-yields-in-focus-amid-economic-data-fed-speeches.html


Stock futures little changed after Dow closes at a fresh record: Live updates
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U.S. stock futures were little changed on September 24, 2024, after the S&P 500 and Dow Jones Industrial Average reached new record closes; Dow futures slipped 23 points (0.05%), S&P 500 futures inched down 0.06%, and Nasdaq 100 futures fell 0.1%; S&P 500 rose 0.28% and Dow added 0.15% on September 23, 2024; Federal Reserve cut interest rates by 0.5%, now at 4.75%-5.00%; Paul Hickey noted four S&P 500 sectors outperforming in 2024; Quincy Krosby warned of potential market volatility; Richard Bernstein predicts small caps will outperform the 'Magnificent Seven'; AutoZone and KB Home expected to report quarterly results on September 24.

#StockMarket #DowJones #S&p500 #FederalReserve #InterestRates #SmallCaps #EconomicData #Trading #Investing #MarketVolatility

https://www.cnbc.com/2024/09/23/stock-market-today-live-updates.html


Fed meeting live updates: Watch Chair Jerome Powell explain the Fed’s decision for a big rate cut
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The Federal Reserve cut interest rates by 50 basis points on September 18, 2024, lowering the target range to 4.75% to 5%. Fed Chair Jerome Powell stated that the economy is in 'good shape' and emphasized the goal of restoring price stability without increasing unemployment. Powell noted broad support for the decision despite dissent from Fed Governor Michelle Bowman, who preferred a smaller cut. The Fed's projections indicate a gradual reduction in rates, with expectations of 4.4% by the end of 2024 and 3.4% by 2025. Powell described the rate cut as a 'recalibration' of policy and cautioned against assuming a new pace of cuts. Investors expressed concerns that the cut may have been too aggressive given the current economic strength, with unemployment at 4.2% and GDP growth at 3.0%. The S&P 500 and Dow reached all-time highs following the announcement.

#FederalReserve #InterestRates #JeromePowell #EconomicPolicy #RateCut #WallStreet #Inflation #Unemployment #FinancialMarkets #Investing

https://www.cnbc.com/2024/09/18/fed-meeting-live-updates-traders-await-september-interest-rate-cut.html


Harris pledges to 'earn the vote' of Black men, as Trump makes gains
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Vice President Kamala Harris outlined economic proposals aimed at young Black men during a panel with NABJ journalists on September 17, 2024; she emphasized the need to earn their votes rather than assume support; a recent NAACP poll indicated over 25% of Black men under 50 support Trump; Harris highlighted her economic opportunity tour and efforts to increase funding for community banks; proposed initiatives include a $50,000 small business tax deduction and removing medical debt from credit scores; Trump faced backlash for comments on Harris' racial identity during his NABJ interview in July; NBC News polling showed 25% of Black voters aged 18 to 49 favored Trump over Biden; Biden won 92% of Black voters in the 2020 election; economic concerns have shifted voter sentiment towards Trump.

#KamalaHarris #DonaldTrump #BlackVoters #Naacp #Economy #2024Election #Nabj #Politics #Voting #SmallBusiness

https://www.cnbc.com/2024/09/17/harris-black-men-trump-vote-election-nabj.html


Dow closes nearly 500 points higher in rebound from Wall Street’s worst week of 2024: Live updates
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On September 9, 2024, the Dow Jones Industrial Average surged 484.18 points (1.2%) to close at 40,829.59, rebounding from a loss of over 1,200 points the previous week; the S&P 500 gained 1.16% to end at 5,471.05, marking its worst week since March 2023; the Nasdaq Composite rose 1.16% to 16,884.60, recovering from its worst week in over two years; investors are optimistic about a potential Federal Reserve rate cut on September 18, 2024; key inflation reports are expected on September 11 and 12; sectors like technology, retail, and banks saw significant gains; analysts predict a 25 basis point cut from the Fed, with Barclays stating the job market isn't weak enough for a larger cut; ResMed shares rose after Apple announced a sleep apnea feature in its new watch; Palantir and Dell stocks jumped after being added to the S&P 500; small-cap stocks are outperforming, indicating potential economic challenges ahead.

#DowJones #S&p500 #Nasdaq #FederalReserve #Inflation #StockMarket #Technology #Retail #Banks #EconomicOutlook

https://www.cnbc.com/2024/09/08/stock-market-today-live-updates.html


The 'vibecession' is ending as the U.S. economy nails a soft landing, economists say
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The U.S. economy is reportedly moving towards a soft landing, ending the 'vibecession' characterized by a disconnect between economic performance and consumer sentiment; economists like Brett House and Michael Pearce note improving consumer confidence as inflation cools and the Federal Reserve prepares to lower interest rates; the personal consumption expenditures price index rose 2.5% year-over-year in July; unemployment rate is at 4.2%, trending higher; markets predict a 100% chance of Fed rate cuts on Sept. 17-18; Goldman Sachs reduced recession probability from 25% to 20%; the last recession was in early 2020; House warns that recessionistas will eventually be right, but not in the near term.

#Economy #Vibecession #Inflation #FederalReserve #ConsumerSentiment #Recession #SoftLanding #EconomicData #InterestRates #GoldmanSachs

https://www.cnbc.com/2024/09/09/the-vibecession-is-ending-economists-say.html


U.S. job market slows, but it's not yet a 'three-alarm fire,' economist says
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Employers added 142,000 jobs in August 2024, below expectations; unemployment rate fell to 4.2% from 4.3% in July; job growth has slowed significantly over the past year; average job growth over the past three months is 116,000, down from 211,000 a year ago; private-sector job growth outside healthcare is averaging 39,000 over the past three months; workers quitting jobs at lowest rate since 2018; job openings at lowest since January 2021; economists warn of potential recession if labor market continues to cool; Nick Bunker from Indeed states it's not a 'three-alarm fire' yet; permanent layoffs remain stable, indicating employers are retaining workers; Federal Reserve expected to cut interest rates soon, which may help the economy.

#JobMarket #Economy #Unemployment #Recession #FederalReserve #Employment #InterestRates #LaborMarket #EconomicOutlook #JobGrowth

https://www.cnbc.com/2024/09/06/august-2024-jobs-report-labor-market-slows-but-not-yet-a-panic.html


2-year Treasury yield falls as investors fret over economic outlook
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U.S. Treasury yields decline as investors assess economic outlook; 10-year Treasury yield at 3.8082%, 2-year Treasury yield at 3.8363%; manufacturing production data indicates sector weakness; recession fears arise after July jobs report; August jobs report due Friday; Fed meeting later this month expected to discuss interest rate cuts; Nvidia experiences a $279 billion market cap loss, impacting global chip stocks.

#TreasuryYields #EconomicOutlook #Nvidia #InterestRates #JobsReport #Manufacturing #RecessionFears #FederalReserve #MarketData #Investing

https://www.cnbc.com/2024/09/04/us-treasurys-falls-as-investors-fret-over-economic-outlook.html


Weak manufacturing measures raise specter of U.S. economic slowdown
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The ISM monthly survey indicated only 47.2% of purchasing managers reported expansion in August, slightly above July's 46.8% but below the expected 47.9%. Timothy Fiore noted weak demand and reluctance to invest due to federal monetary policy and election uncertainty. The employment index rose to 46%, while inventories increased to 50.3%. The prices index rose to 54%, indicating inflation concerns. The S&P PMI also decreased to 47.9 from 49.6 in July. Following the ISM report, the probability of a Fed interest rate cut increased, with a 39% chance of a half-point reduction. The Dow Jones Industrial Average fell nearly 500 points after the report.

#Manufacturing #Economy #Ism #FederalReserve #InterestRates #Inflation #S&p #Employment #EconomicSlowdown #Market

https://www.cnbc.com/2024/09/03/weak-manufacturing-measures-raise-specter-of-us-economic-slowdown.html


Stock futures slide to kick off September trading: Live updates
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U.S. stock futures declined on September 3, 2024, with Dow futures down 197 points (0.5%), S&P 500 futures down 0.5%, and Nasdaq-100 futures down 0.6%. Markets were closed on September 2 for Labor Day. The S&P 500 had a strong August, gaining 2.3% and marking its fourth consecutive winning month. Concerns over a potential recession and a hedge fund trade involving the Japanese yen contributed to early August's volatility. Deutsche Bank's Henry Allen noted a recovery post-August 5 due to positive economic data. Key economic reports are expected this week, including the August jobs report on September 6. Historically, September has been the worst month for the S&P 500, averaging a 2.3% loss over the last decade. Stocks making significant moves include United States Steel, Unity Software, and Boeing.

#StockMarket #Futures #Economy #Investing #S&p500 #DowJones #Nasdaq #LaborDay #EconomicReports #MarketTrends

https://www.cnbc.com/2024/09/02/stock-market-today-live-updates.html


The peak interest rate era is over. Here's what investors are watching
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In September 2024, the U.S. Federal Reserve is expected to cut key rates, joining other central banks like the European Central Bank and the Bank of England; Analysts predict three 25 basis point cuts by the Fed before year-end; Fed Chair Jerome Powell indicated a shift in policy focus at the Jackson Hole symposium; European stocks have rebounded nearly 10% in 2023; The S&P 500 index is up 17% in 2024; Concerns remain about potential volatility from U.S. economic data; Analysts suggest a soft landing for the U.S. economy is achievable; Currency markets are focused on inflation and rate expectations; Rabobank forecasts four Fed rate cuts between September and January; The outcome of the U.S. election could impact Fed policy.

#InterestRates #FederalReserve #Equities #GlobalEconomy #CurrencyMarkets #Inflation #CentralBanks #Investing #MarketAnalysis #EconomicOutlook

https://www.cnbc.com/2024/09/02/the-peak-interest-rate-era-is-over-heres-what-investors-are-watching.html


S&P 500, Nasdaq close slightly higher Tuesday, lifted by Nvidia shares: Live updates
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On August 27, 2024, the S&P 500 rose 0.16% to 5,625.80; the Nasdaq Composite also gained 0.16% to 17,754.82; the Dow Jones Industrial Average increased by 9.98 points to 41,250.50, marking its second consecutive record close. Investors are anticipating Nvidia's earnings report after the market closes on August 28, which is expected to influence market trends. Nvidia shares rose 1.5% ahead of the report. Analysts predict a 25 basis point rate cut at the Federal Reserve's September 17-18 meeting. Capital Economics forecasts the S&P 500 to reach 6,000 by the end of 2024, contingent on a soft landing for the U.S. economy and a rebound in AI enthusiasm. Costco shares hit an all-time high of over $900, while Hain Celestial's stock surged 31% after exceeding earnings expectations. The Conference Board reported consumer confidence rose to 103.3 in August, with inflation expectations at 4.9%.

#S&p500 #Nasdaq #Nvidia #Earnings #StockMarket #InterestRates #ConsumerConfidence #Costco #HainCelestial #Ai

https://www.cnbc.com/2024/08/26/stock-market-today-live-updates.html


U.S. economy is 'amazingly strong,' David Roche says
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David Roche, president of Quantum Strategy, states the U.S. economy is 'amazingly strong' during an interview on August 27, 2024; John Bilton from JPMorgan Asset Management indicates the Federal Reserve is likely to initiate rate cuts; a strategist warns that a Fed rate cut followed by a pause could stress the equity market; TS Lombard economist suggests Fed policy may be lagging; Fed's Powell is expected to caution against aggressive rate cuts; market rotation is anticipated as U.S. economic growth slows; Ed Yardeni claims the labor market has returned to normal; Goldman’s Robert Kaplan believes the Fed has room for significant rate cuts in the coming years; Bryn Talkington from Requisite states unemployment data will indicate if the Fed is cutting rates too late.

#UsEconomy #FederalReserve #InterestRates #DavidRoche #Jpmorgan #MarketAnalysis #EconomicGrowth #LaborMarket #RateCuts #FinancialNews

https://www.cnbc.com/video/2024/08/27/us-economy-is-amazingly-strong-david-roche-says.html


Stocks are flat to start the week, with S&P 500 near record high: Live updates
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Stocks are flat as of August 26, 2024, with the S&P 500 up 0.1% and the Dow Jones up 0.2%; Fed Chair Jerome Powell indicated potential interest rate cuts, leading to market optimism; S&P 500 is less than 1% from its record high set in mid-July; durable goods orders surged 9.9% in July, driven by transportation; UBS forecasts S&P 500 could rise to 5,900 by year-end; Oppenheimer suggests shifting to defensive value plays; Ed Yardeni warns that stronger economic news may dampen rate-cut expectations.

#Stocks #S&p500 #FederalReserve #InterestRates #DurableGoods #MarketStrategy #EconomicData #Ubs #Oppenheimer #YardeniResearch

https://www.cnbc.com/2024/08/25/stock-futures-are-little-after-fed-signals-rate-cuts-are-imminent.html


A recession is coming in the U.S., and 'a few rate cuts' won't prevent it, says strategist
==========

BCA Research predicts an imminent U.S. recession, contrary to market beliefs; Garry Evans, chief strategist, highlights a deteriorating labor market with July unemployment at 4.3%, the highest since October 2021; manufacturing activity fell to an eight-month low; investors expect three rate cuts by year-end, but Evans argues they won't prevent recession; average recession lasts 10 months, with Fed cuts taking a year to impact economy; current Fed funds rate is 5.3%, projected to drop to 3% only if recession occurs; survey shows 60% of Americans believe the U.S. is in a recession.

#Recession #Economy #FederalReserve #GarryEvans #BcaResearch #Unemployment #InterestRates #Manufacturing #JacksonHole #EconomicPolicy

https://www.cnbc.com/2024/08/23/us-recession-is-coming-and-a-few-rate-cuts-wont-prevent-it-strategist.html


Canadian rail lockout leaves billions in U.S. trade stranded, with economic impact to grow day by day
==========

Over 9,000 rail union workers locked out by Canadian National Railway and Canadian Pacific Kansas City; billions in U.S.-bound trade stranded during peak shipping season; 20% of U.S. trade arrives via Canadian ports; 66% of cargo at Port of Vancouver moved by rail; U.S.-Canada bilateral trade totaled $382.4 billion in H1 2024; $572 million in container trade arrives daily from Canada; 30% of clothing and accessories transported by rail; disruptions could lead to higher trucking rates; Teamsters Canada union president Francois Laporte calls for negotiations; Canadian National claims good faith negotiations; Canadian Pacific offers binding arbitration; economic impact increases with duration of disruption; $28.5 billion in U.S. chemical exports to Canada in 2023; Canadian railways transport $277 billion worth of goods annually; previous strikes caused significant trade disruptions.

#RailLockout #TradeImpact #Canada #UnitedStates #Teamsters #Negotiations #SupplyChain #Economy #Shipping #Freight

https://www.cnbc.com/2024/08/22/canadian-rail-lockout-leaves-billions-in-us-trade-stranded.html


The hidden costs of a strong U.S. dollar
==========

In 2022, the U.S. dollar reached its highest level since the early 2000s; a strong dollar can lead to higher prices for American consumers; reduced demand for U.S. exports may result in layoffs in key industries; managing the dollar's value presents challenges for U.S. president, Federal Reserve, and policymakers.

#UsDollar #Economy #Exports #Inflation #Layoffs #Policymakers #FederalReserve #2022 #Recession #Trade

https://www.cnbc.com/video/2024/08/21/how-a-strong-dollar-can-backfire-on-the-us-economy.html


DNC live updates: Kamala Harris makes surprise appearance to thank Joe Biden
==========

Vice President Kamala Harris made a surprise appearance at the 2024 Democratic National Convention in Chicago on August 19, 2024, to thank President Joe Biden, who is set to give the keynote address later that evening; Harris praised Biden for his 'historic leadership' and the crowd chanted 'Thank you, Joe'; DNC chair announced majority of delegates voted to give Harris the Democratic nomination; four protesters were arrested after breaching security; Trump and running mate JD Vance held campaign events in Pennsylvania; Harris outlined an 'opportunity economy' focused on reducing costs; union leaders expressed support for Harris; Trump criticized the DNC for using an outdated platform document; the DNC aims for a 'drama-free' convention; the Bidens plan to vacation in California after the convention.

#Dnc #KamalaHarris #JoeBiden #DonaldTrump #2024Election #Chicago #DemocraticParty #Protests #LaborUnions #PoliticalCampaigns

https://www.cnbc.com/2024/08/19/dnc-2024-live-updates-day-1.html


Dow jumps 500 points, Nasdaq adds 2% as comeback rally gains steam: Live updates
==========

Stocks rallied on Thursday as investors regained confidence in the economy following encouraging consumer and labor data that helped ease recession worries. The Dow Jones Industrial Average leaped 509 points, or 1.28%. The S&P 500 rose 1.58%, for its sixth straight gain. The broad market index has advanced roughly 8% from its intraday bottom on Aug. 5. The Nasdaq Composite jumped 2.34%. Retails sales increased 1% in July, far surpassing an estimate from Dow Jones that forecast a 0.3% uptick. Also separately, weekly jobless claims fell for the week. After a 3% gain this week, the S&P 500 is now less than 3% below its record. The three major U.S. indexes are now trading above their Aug. 2 closing level, which was the session before the global stock market rout on Aug. 5 that was largely driven by investors’ concerns about an economic slowdown and an unwinding of a popular hedge fund currency trade.

#StockMarket #DowJones #Nasdaq #Economy #Recession #RetailSales #JoblessClaims

https://www.cnbc.com/2024/08/14/stock-market-today-live-updates.html


Dow gains more than 200 points after inflation slows to 3-year low: Live updates
==========

The Dow Jones Industrial Average climbed 246 points, or 0.62%, after the release of more encouraging U.S. inflation data. Consumer prices increased 2.9% year-over-year, down from 3% in June and the lowest reading since March 2021. So-called core inflation, which strips out food and energy from the headline number, advanced 0.2% on the month. Investors are looking toward the CPI reading to get a full-plated picture of the state of the economy and to further solidify the prospect of an interest rate cut at the central bank’s September meeting. Futures market pricing is roughly split down the middle between expectations for a quarter or half-percentage point reduction at central bank meeting on Sept.17-18, and forecast a total basis point in shifts by the end of the year. All three major averages are now above their Aug. 2 closing level, which was the session before the global market sell-off on Aug. 5 that appeared to be related to an unwind of the yen carry trade and concerns about economic growth.

#DowJonesIndustrialAverage #Inflation #InterestRateCut #Cpi #EconomicGrowth

https://www.cnbc.com/2024/08/13/stock-market-today-live-updates.html


59% of Americans wrongly think the U.S. is in a recession, report finds
==========

Citing higher costs and difficulty making ends meet, 59% of Americans falsely believe that the U.S. is currently in a recession, according to a recent report by Affirm. Most respondents think a recession started roughly 15 months ago, in March of last year, and could last until July of 2025. However, the U.S. economy has remained strong despite persistent inflation and high interest rates. Economists have noted a growing disconnect between the economy's performance and people's perception of their financial standing. Many Americans are struggling with high prices and have exhausted their savings, relying on credit cards to make ends meet. The disparity between the wealthy and non-wealthy is widening dramatically, with lower-income households falling behind. A growing number of borrowers are falling behind on credit card payments, and more middle-income households anticipate struggling with debt payments in the coming months.

#Recession #Economy #Survey #FinancialStanding #Inflation #InterestRates #Savings #CreditCards #WealthDisparity #Borrowers #DebtPayments

https://www.cnbc.com/2024/08/12/59percent-of-americans-think-the-us-is-in-a-recession-report-finds.html


China stocks escaped much of the latest sell-off. Signals for whether to buy
==========

China stocks have largely avoided the recent sell-off in the market. Wall Street will gain insight on consumer behavior and inflation in the coming week. Warren Buffett's Japanese investments have performed well despite the global market rout. Bank of America suggests buying the dip in tech stocks, including Nvidia. China's slower growth has not affected a consumer stock that is up 90% this year. China is increasing its focus on domestic technology. CNBC offers various newsletters and products.

#ChinaStocks #MarketSelloff #ConsumerBehavior #Inflation #WarrenBuffett #JapaneseInvestments #TechStocks #China'sSlowerGrowth #DomesticTechnology

https://www.cnbc.com/2024/08/11/china-stocks-escaped-much-of-the-latest-sell-off.html


Stocks rally on good jobs data, proving it's too early to write off the U.S. economy
==========

Stocks rally on good jobs data, indicating the U.S. economy is still strong; The CNBC Investing Club releases the Homestretch, an actionable afternoon update; Eli Lilly's blowout quarter eases investor concerns about the stock; Costco's 'incredible' sales data should boost its stock; 3 stock trades are made as the market recoups recent losses; Wall Street's rally fades, but Palo Alto Networks remains a bright spot; Stocks bounce back from sell-off, and Disney gives investors a win ahead of earnings; Predicting a bottom in the global market plunge is difficult

#StockMarket #JobsData #UsEconomy

https://www.cnbc.com/2024/08/08/stocks-rally-on-good-jobs-data-proving-its-too-early-to-write-off-the-us-economy.html


S&P 500 futures rise as drop in jobless claims eases recession fears: Live updates
==========

S&P 500 futures climbed higher Thursday after new labor market data boosted investors’ confidence in the U.S. economy after a sharp market sell-off earlier in the week. Futures tied to the broad market index gained 0.8%. Dow Jones Industrial Average futures added 149 points, or 0.4%. Nasdaq-100 futures advanced 1.1%. The latest weekly jobless claims came in below forecasts, helping to allay some recent concerns on the strength of the labor market. First-time filings for jobless benefits came in at 233,000 last week, down 17,000 from the previous week and lower than the Dow Jones estimate for 240,000, the Labor Department reported Thursday. Pharmaceutical giant Eli Lilly surged around 12% after posting better-than-expected earnings and raising its full-year outlook on strong demand for diabetes treatment Mounjaro and obesity drug Zepbound. Meanwhile, Warner Bros. Discovery were each sliding in extended trading after reporting soft second-quarter revenue results. The recent jolt of volatility into the market could be a preview of the rest of the year, said Joseph Ferrara, investment strategist at Gateway Investment Advisers. Ferrara told CNBC on Wednesday that economic concerns, geopolitical conflict and the looming November elections could keep investors on edge in the coming months.

#S&p500 #JoblessClaims #LaborMarket #EliLilly #WarnerBrosDiscovery #Volatility

https://www.cnbc.com/2024/08/07/stock-market-today-live-updates.html


Dow loses more than 750 points, Nasdaq enters correction after weak jobs report: Live updates
==========

Stocks fell sharply on Friday with the S&P 500 dropping 2.1% and the Nasdaq Composite losing nearly 2.6% after a weaker-than-expected jobs report for July raised concerns of a recession. The Dow Jones Industrial Average fell 785 points, or almost 2%. Nonfarm payrolls grew by just 114,000 last month, below the expected 185,000. The unemployment rate increased to 4.3%. The 10-year Treasury yield fell to its lowest since December. Amazon's Q2 results sparked investor concerns about Big Tech's AI-related capital spending. The Nasdaq entered correction territory, down more than 10%. Bank stocks were also hit hard. Morgan Stanley sees a narrowing path to a goldilocks scenario for equities. BlackRock's CIO of global fixed income believes the Fed should have cut rates already. Chevron stock is under pressure after earnings miss and Hess deal delays. The Japanese Nikkei 225 suffered a 5.8% drop. The odds of a half-point rate cut in September soared. Intel shares plunged 20% after weak earnings and layoffs. U.S. crude oil fell more than 3%. Utilities were the best-performing sector for the week. Bitcoin traded higher amid the sell-off in stocks. Stock futures were lower on Thursday night.

#StockMarket #S&p500 #NasdaqComposite #DowJonesIndustrialAverage #JobsReport #Recession #Amazon #Ai #NasdaqCorrection #BankStocks #MorganStanley #Blackrock #Chevron #Hess #Nikkei225 #RateCut #Intel #CrudeOil #Utilities #Bitcoin #StockFutures

https://www.cnbc.com/2024/08/01/stock-market-today-live-updates.html


U.S. economy grew at a 2.8% pace in the second quarter, much more than expected
==========

The U.S. economy grew at a pace of 2.8% in the second quarter, surpassing expectations. Wholesale prices rose 0.2% in June, slightly higher than anticipated. Retail sales remained unchanged in June, which was better than expected. Former Kansas City Fed President believes the Fed is seeing the progress they have been seeking. Former SEC Chair Jay Clayton finds Senator JD Vance appealing to everyday Americans. American Airlines CEO Robert Isom expressed dissatisfaction with Q2 results. Small caps could rise over 15% in August, according to Fundstrat's Tom Lee. Salesforce CEO Marc Benioff believes access to data will lead to phenomenal AI. The NBA signed new 11-year media agreements with Disney, NBC, and Amazon. Ford shares fell after-hours as the EV division reported a $1.14 billion loss.

#UsEconomy #EconomicGrowth #WholesalePrices #RetailSales #FederalReserve #AmericanAirlines #SmallCaps #ArtificialIntelligence #Nba #Ford

https://www.cnbc.com/video/2024/07/25/u-s-economy-grew-at-a-2-point-8-percent-pace-in-the-second-quarter-much-more-than-expected.html


U.S. economy grew at a 2.8% pace in the second quarter, much more than expected
==========

The U.S. economy grew at a 2.8% pace in the second quarter, surpassing expectations of 2.1% growth. The growth was driven by consumer spending, private inventory investment, and nonresidential fixed investment. Personal consumption expenditures increased by 2.3% for the quarter. Imports, which subtract from GDP, rose by 6.9%, the largest quarterly increase since Q1 2022. The personal consumption expenditures price index increased by 2.6% for the quarter, down from 3.4% in Q1. The personal savings rate decelerated to 3.5% from 3.8% in Q1. Federal Reserve officials are expected to hold interest rates steady in their next meeting, but market pricing suggests a rate cut in September.

#UsEconomy #GdpGrowth #CommerceDepartment #ConsumerSpending #Inflation #FederalReserve

https://www.cnbc.com/2024/07/25/us-gdp-q2-2024.html


Treasury yields fall ahead of key economic data
==========

U.S. Treasury yields declined as investors awaited key economic data points; At 4:00 a.m. ET, the yield on the 10-year Treasury was down by over five basis points to 4.2349%; Investors are considering the state of the U.S. economy and the outlook for interest rates; Data released Wednesday showed the U.S. PMI flash manufacturing output index falling to 49.5, indicating contraction; On Thursday, investors will be following durable goods orders, weekly initial jobless claims, and a preliminary reading of second-quarter U.S. GDP; The data will provide more hints about the state of the economy and could affect the central bank's decision-making and guidance on monetary policy; Markets are expecting interest rates to remain unchanged, but are hoping for hints about future rate cuts

#TreasuryYields #EconomicData #FederalReserve #InterestRates #UsEconomy

https://www.cnbc.com/2024/07/25/us-treasury-yields-ahead-of-key-economic-data.html


UBS' Paul Donovan on U.S election, the economy and its industry policy
==========

Paul Donovan from UBS Global Wealth Management discusses a wide range of issues facing the global economy, including the U.S. election and its implications, the state of the economy, and industry policy. The analyst mentions that Biden is closer to bowing out today compared to 24 hours ago. There is a discussion on the risk of a U.S. recession in the next 12 months, which the market seems to be ignoring. The article also mentions the sale of souvenir T-shirts of Trump shooting on China's Taobao platform. Other topics covered include the outlook for U.S.-Philippine ties ahead of the presidential election, Alcoa's earnings and the possible impact of a Trump presidency, and the impact of access to data on AI development. The article includes several videos on topics such as new media agreements in the NBA, Ford's after-hours stock fall, and the market correction of the 'Magnificent 7'.

https://www.cnbc.com/video/2024/07/25/paul-donovan-on-u-s-election-economy-and-industry-policy.html


'Largest IT outage in history' leaves world reeling
==========

Financial services and doctors’ offices were disrupted on Friday, while TV broadcasters went offline as businesses worldwide grappled with an ongoing major IT outage. Air travel has been particularly hit, with planes grounded, services delayed and airports issuing advice to passengers. Cybersecurity giant CrowdStrike experienced a major disruption following an issue with its latest tech update. Microsoft cloud services were also affected but have since been restored. The Federal Reserve said its critical systems are operating normally. Charles Schwab, Union Pacific, FedEx, and Amazon Web Services were among the other companies impacted. The global IT outage is being called the largest in history.

#ItOutage #Cybersecurity #Crowdstrike #Microsoft #FederalReserve #CharlesSchwab #UnionPacific #Fedex #AmazonWebServices

https://www.cnbc.com/2024/07/19/latest-live-updates-on-a-major-it-outage-spreading-worldwide.html


Treasury yields hold steady as investors weigh state of economy
==========

U.S. Treasury yields were little changed on Wednesday as investors considered the state of the economy and outlook for interest rates. At 4:16 a.m. ET, the yield on the [10-year Treasury note](https://www.cnbc.com/quotes/?symbol=US10Y) was up by less than one basis point to 4.1672%. The yield on the [30-year Treasury bond](https://www.cnbc.com/quotes/?symbol=US30Y) was last at 4.4485% after rising by less than one basis point. Investors considered economic data and comments from Federal Reserve officials slated for the week after central bank Chairman Jerome Powell earlier this week said interest rates would likely be cut before inflation reaches 2%. One more set of inflation data — the personal consumption expenditures price index — is due before the Fed meets at the end of the month, when investors are hoping to get hints that rate cuts could begin in the coming months. Several fed policymakers are expected to give remarks this week, including on Wednesday. Also on Wednesday, fresh data could provide hints about the state of the economy, with the latest building permit and housing start figures due to be released.

#TreasuryYields #Economy #InterestRates #FederalReserve #Inflation #RateCuts

https://www.cnbc.com/2024/07/17/us-treasurys-as-investors-weigh-state-of-economy.html


RNC 2024 live updates: Haley 'strongly endorses' Trump, Desantis wages culture wars, Marco Rubio up soon
==========

Former President Donald Trump is officially the nominee and Ohio Sen. is his running mate. The convention began just two days after Trump survived an assassination attempt at a campaign rally in Pennsylvania. Tonight's speakers include Florida Sen. Marco Rubio, Florida Sen. Rick Scott, Florida Gov. Ron DeSantis, Arkansas Gov. Sarah Huckabee Sanders, Republican National Committee co-chair Lara Trump, reality TV star Savannah Chrisley, entrepreneur Vivek Ramaswamy, Rep. Elise Stefanik N.Y., Rep. Tom Emmer, Minn., Rep. Steve Scalise, La., House Speaker Mike Johnson, La. Former South Carolina Governor Nikki Haley 'strongly endorses' Trump. Reality TV star Savannah Chrisley criticizes the justice system. Dallas Mayor Eric Johnson switched from Democrat to Republican. Virginia Senate candidate Hung Cao escaped Vietnam. Entrepreneur Vivek Ramaswamy encourages Gen-Z Republicans. New Jersey Senate contender Jeff Van Drew switched from Democrat to Republican. Former VP hopeful Elise Stefanik criticizes Ivy League presidents. House leader Steve Scalise praises Trump's leadership. Michigan's Mike Rogers criticizes electric vehicles. Nevada's Sam Brown shares his experience in Afghanistan. Montana U.S. Senate candidate Tim Sheehy mocks gender pronouns. West Virginia Gov. Jim Justice predicts Republican victories. Rep. Jim Banks pushes for hardline immigration policies. Ohio Senate hopeful Bernie Moreno claims Democrats will 'destroy America'. PA Senate hopeful Dave McCormick praises Trump's strength. Wisconsin Senate candidate Eric Hovde criticizes Bidenomics. Rep. Matt Gaetz confronts former House Speaker McCarthy. Marco Rubio, Nikki Haley, Lara Trump, and many others are scheduled to speak.

#Rnc #DonaldTrump #NikkiHaley #MarcoRubio #RonDesantis #SavannahChrisley #VivekRamaswamy #EliseStefanik #SteveScalise #JimJustice #JimBanks #BernieMoreno #DaveMccormick #EricHovde #MattGaetz

https://www.cnbc.com/2024/07/16/rnc-day-2-live-updates.html


IMF sees ‘bumps’ in path to lower inflation
==========

The International Monetary Fund (IMF) warned that upside risks to inflation have increased, casting doubt on the prospect of multiple Federal Reserve interest rate cuts this year. The IMF's latest World Economic Outlook update stated that the momentum on global disinflation is slowing, indicating challenges ahead. The rise in sequential inflation in the US earlier in 2024 has put it behind other major economies in the quantitative easing path. IMF chief economist Pierre-Olivier Gourinchas suggested that one rate cut from the Fed is most appropriate this year, citing stubborn services and wage inflation as complications to achieving lower inflation. The IMF forecasts the rate of disinflation to slow in 2024 and 2025 across advanced economies due to high services inflation and commodity prices. The IMF lowered its growth outlook for the US economy to 2.6% in 2024 due to cooling consumption and slower-than-expected growth at the start of the year.

#Imf #Inflation #FederalReserve #InterestRates #EconomicOutlook

https://www.cnbc.com/2024/07/16/imf-sees-bumps-in-path-to-lower-inflation.html


5 things to know before the stock market opens
==========

The major indexes closed higher on Monday, with the Dow hitting a new record. Fed Chair Jerome Powell stated that the central bank isn't waiting to hit its inflation target before cutting rates. Former President Donald Trump made his first appearance since Saturday's assassination attempt. The major averages closed in the green on Monday. The Dow Jones Industrial Average jumped more than 200 points to 40,211.72. The S&P 500 gained 0.28% to close at 5,631.22. The Nasdaq Composite closed higher, advancing 0.4% to 18,472.57. The Federal Reserve isn't going to hold back on rate cuts before hitting its inflation target. Fed Chair Jerome Powell said that the central bank will look for "greater confidence" that inflation will return to the 2% level. Former President Donald Trump attended Day 1 of the Republican National Convention, where he was seen wearing a bandage over his right ear. General Motors may not have the capacity to produce 1 million all-electric vehicles in North America by the end of next year. Apple released a public beta version of the iOS 18 software that will launch alongside new iPhones later this year.

#StockMarket #DowJones #FederalReserve #JeromePowell #DonaldTrump #RepublicanNationalConvention #GeneralMotors #Apple

https://www.cnbc.com/2024/07/16/5-things-to-know-before-the-stock-market-opens-tuesday-july-16.html


‘Luxury shame': China's rich shy away from flaunting their wealth amid economic jitters
==========

China's wealthy individuals are becoming more cautious about flaunting their wealth due to a challenging macroeconomic environment, sluggish GDP growth, and weak consumer confidence. This trend, known as 'luxury shame,' is impacting the country's luxury market. Wealthy customers are afraid of being seen as too ostentatious or showy, leading them to opt for more subtle and less visible luxury goods. The Chinese government's push for common prosperity and crackdown on 'wealth flaunting' has also contributed to this trend. Despite the global personal luxury goods sector expected to grow modestly, China's luxury market is struggling and overall contracting.

#China #WealthyIndividuals #LuxuryMarket #EconomicUncertainty

https://www.cnbc.com/2024/07/16/chinas-rich-shy-away-from-flaunting-wealth-amid-economic-uncertainty.html


With odds of a Trump win rising, here's what it could mean for Europe's economy
==========

Goldman Sachs economists warn that if Donald Trump were to become U.S. president again, there could be "profound implications" for the euro area's economy. They estimate a GDP hit of around 1% and a modest increase in inflation. Trade policy uncertainty, defense and security pressures, and spillover effects from U.S. domestic policies could impact Europe. Trump's trade policy, including tariffs on European steel and aluminum, could increase trade policy uncertainty. Trump's defense policy, including potentially cutting U.S. aid for Ukraine and questioning NATO commitments, could require European countries to fund additional defense spending. U.S. domestic plans, such as tax cuts and less regulation, could have spillover effects on Europe. Overall, a second Trump term could pose a significant downside risk to the Euro area's economy.

https://www.cnbc.com/2024/07/15/what-a-trump-presidency-could-mean-for-europes-economy.html


Bernie Sanders urges Dems to ‘stop the bickering' and back Biden
==========

Bernie Sanders urges Democrats to support President Joe Biden and stop calling for his withdrawal from the race. Sanders criticized Democrats who have been concerned about Biden's health and called for a new nominee to compete against former President Donald Trump. Sanders wrote an op-ed in The New York Times, stating that while Biden may not be the ideal candidate, he should be supported and with an effective campaign, he can defeat Trump. Sanders also criticized the media for focusing obsessively on Biden's cognitive capabilities. Biden has rejected calls for his withdrawal and has received support from key Democratic groups and allies. Sanders, despite his policy disagreements with Biden, will do all he can to see that Biden is re-elected because he believes Biden is the most effective president in the modern history of the country and the strongest candidate to defeat Trump. Sanders highlighted Biden's efforts to rebuild the U.S. economy, investments in infrastructure and climate change-related projects, and other accomplishments. He contrasted Biden with Trump, who he said wants to cut taxes for the billionaire class and let corporations exploit workers and consumers. Sanders emphasized that for the sake of future generations, Biden must win the November election.

#BernieSanders #Democrats #JoeBiden #DonaldTrump #2024UsPresidentialElection

https://www.cnbc.com/2024/07/13/bernie-sanders-urges-dems-to-stop-the-bickering-and-back-biden.html


Ron Insana: Look to the U.S. for economic resilience and continued global stock market leadership
==========

Despite calls to diversify investments, the U.S. stock market has been the best place for traders and investors. The S&P 500 is up nearly 18% and the Nasdaq Composite is up 22% in 2024. Japan's Nikkei 225 index is up 23% while China's stock market is down for the year. The U.S. economy has been solid and envied by the world, with low unemployment and inflation. The U.S. also has a lower debt-to-GDP ratio compared to China and Japan. Overseas investors continue to buy U.S. bonds due to the stable U.S. dollar and the potential for capital gains. The financial markets do not suggest that America is in decline. The article encourages U.S. investors to remember the phrase 'There's no place like home' and to focus on the resilience and leadership of the U.S. economy and stock market.

#UsStockMarket #EconomicResilience #GlobalStockMarketLeadership #Investments #S&p500 #NasdaqComposite #Japan #China #UsEconomy #Unemployment #Inflation #DebttogdpRatio #UsBonds #UsDollar

https://www.cnbc.com/2024/07/13/ron-insana-look-to-the-us-for-stock-market-leadership-in-2024.html


U.S. Cities Are Sinking. Here’s What That Means For Homeowners (Video)
==========

Land subsidence, a phenomenon affecting cities like New Orleans, New York City, and south San Francisco, can severely affect buildings and infrastructure, and when combined with sea-level rise, increase flooding. Research shows that problems associated with land subsidence can cost U.S. homeowners 6% of their home value, and in areas with high subsidence, that number can jump to 8.1%. Standard homeowners insurance usually does not cover land subsidence issues. Both natural processes, such as glacier recession and tectonic activity, and human-induced processes, such as groundwater extraction and heavy building materials, contribute to land subsidence. Infrastructure is often not designed to account for shifting land, putting it at risk. Experts warn that land subsidence is putting U.S. infrastructure in a precarious situation and could be costly to fix.

#LandSubsidence #Homeowners #Flooding #Insurance #Infrastructure

https://www.cnbc.com/2024/07/11/us-cities-are-sinking-heres-what-that-means-for-homeowners.html


S&P 500 trades near records after CPI report shows easing June inflation: Live updates
==========

The S&P 500 trades near record levels after the consumer price index (CPI) report shows easing June inflation. The CPI fell 0.1% last month, bringing the annual inflation rate down to 3%. Core CPI, which excludes food and energy, came in at a 3.3% annual rate. Treasury yields fell following the CPI data as traders upped their bets for interest rate cuts. The Federal Reserve is expected to cut rates as early as September. Nvidia led chip stocks higher in the premarket, while housing-related shares such as D.R. Horton jumped on the hope of lower rates. The S&P 500 added 1% on Wednesday to close above 5,600 for the first time. Pfizer rises as the drugmaker moves forward with a once-daily weight loss pill. Delta Air Lines slides on disappointing earnings guidance. PepsiCo shares slip after mixed quarterly results. The dollar index reaches its lowest level in four weeks after the CPI report. Citigroup is fined $60.6 million by the Federal Reserve Board for violating a 2020 enforcement action. The CPI report is expected to show inflation falling closer to 3%. The S&P 500 rises in the first seven trading sessions of July. Stock futures open little changed.

#S&p500 #Cpi #Inflation #InterestRates #ChipStocks #HousingMarket #Pfizer #DeltaAirLines #Pepsico #DollarIndex #Citigroup

https://www.cnbc.com/2024/07/10/stock-market-today-live-updates.html


Here's why housing inflation is still stubbornly high
==========

Housing inflation remains high despite overall inflation in the U.S. economy declining. The shelter inflation index, which accounts for 36% of the consumer price index (CPI), is the main factor keeping the CPI from falling back to policymakers' target. The slow decline of housing inflation is due to the way the Bureau of Labor Statistics constructs its housing inflation index. The index lags behind trends in the real-time rental market, causing a delay in reflecting changes in rental prices. The shelter inflation index includes rent and 'owners' equivalent rent of residences' to measure the average cost of housing. The index moves slowly and with a lag due to the staggered nature of the data collection. Experts expect shelter inflation to continue to moderate as it catches up to the trend in new rental contracts and as more rental units become available.

#HousingInflation #ConsumerPriceIndex #RentalMarket #BureauOfLaborStatistics

https://www.cnbc.com/2024/07/11/heres-why-housing-inflation-is-still-stubbornly-high.html


Watch Fed Chair Jerome Powell testify live before the House financial services panel
==========

Federal Reserve Chair Jerome Powell is set to testify before the U.S. House Financial Services Committee on Wednesday. This comes after Powell appeared before the Senate Committee on Banking, Housing and Urban Affairs on Tuesday, where he acknowledged the two-sided risk of rising unemployment and inflation above the 2% target. Investors will be listening for hints about when the Fed might begin to cut rates, with a meeting later this month. Representatives may also ask about the Fed's oversight of banks and the potential risks of commercial real estate to regional lenders.

#JeromePowell #FederalReserve #HouseFinancialServicesCommittee #SenateCommitteeOnBanking,HousingAndUrbanAffairs #InterestRates #Unemployment #Inflation #CommercialRealEstate #Banks

https://www.cnbc.com/2024/07/10/watch-fed-chair-powell-testify-live-before-house-financial-panel.html


The Fed may soon cut interest rates. That could make your next trip abroad more expensive
==========

The U.S. Federal Reserve may start cutting interest rates before year's end, which could weaken the U.S. dollar and make future trips abroad more expensive for American travelers. Rising U.S. interest rates relative to those in other nations strengthen the U.S. dollar, allowing Americans to buy more with their money overseas. However, falling interest rates have the opposite effect, weakening the dollar and reducing Americans' purchasing power abroad. Fed officials expect to cut rates once in 2024 and four more times in 2025, which could put more pressure on the dollar. Some experts believe the dollar's strength may persist, while others think it will weaken. The strength of the U.S. dollar has given Americans a discount on purchases abroad, making travel more affordable. The dynamics driving dollar fluctuations are complex and depend on the differential in interest rates between the U.S. and other nations. A relatively strong U.S. economy and higher economic growth and/or inflation support a strong dollar. Additionally, foreigners may invest more in the U.S. when interest rates are high, further strengthening the dollar. Capital flows play a significant role in exchange rates. Currency fluctuations in emerging markets can be more volatile due to factors like political shocks and commodity price risks.

#FederalReserve #InterestRates #UsDollar #ExchangeRates #Travel

https://www.cnbc.com/2024/07/10/why-the-fed-cutting-interest-rates-may-weaken-the-us-dollar.html


S&P 500 rises to record as Powell highlights risk of leaving rates high for too long: Live updates
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The S&P 500 rose to a fresh record as investors digested key testimony from Federal Reserve Chair Jerome Powell. Powell stated that keeping interest rates elevated for too long could risk further economic growth. The Nasdaq Composite also hit a record earlier in the session. Powell will continue testimony this week before Congress on Wednesday before the House Financial Services Committee. Nvidia shares were up 1.4% after KeyBanc hiked its price target on the chipmaker to $180. The S&P 500's gains were limited due to a lack of market breadth. Decliners were beating advancers on the NYSE and Nasdaq on Tuesday. Stocks tied to the artificial intelligence theme outperformed on Tuesday. Powell said the U.S. economy is not running too hot, but still has the strongest growth of any developed nation. The S&P 500 and Nasdaq Composite hit fresh record highs at the market open on Tuesday. BP shares fell more than 4% on Tuesday after the company warned it expects to report an impairment of up to $2 billion. European stocks opened lower on Tuesday. The S&P 500 has notched 35 record closing highs this year. U.S. stock futures opened little changed Monday night.

#StockMarket #FederalReserve #InterestRates #S&p500 #NasdaqComposite #Nvidia #MarketBreadth #ArtificialIntelligence #UsEconomy #Bp #EuropeanStocks #StockFutures

https://www.cnbc.com/2024/07/08/stock-market-today-live-updates.html


Fed Chair Powell says holding rates high for too long could jeopardize economic growth
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Federal Reserve Chair Jerome Powell expressed concern that holding interest rates too high for too long could jeopardize economic growth. Powell stated that reducing policy restraint too late or too little could unduly weaken economic activity and employment. The Fed's overnight borrowing rate currently sits at a range of 5.25%-5.5%, the highest level in 23 years. Markets expect the Fed to begin cutting rates in September and likely follow up with another quarter percentage point reduction by the end of the year. Powell emphasized the importance of the Fed's operational independence and stated that recent data shows the US economy continues to expand at a solid pace despite the deceleration in GDP.

#FederalReserve #JeromePowell #InterestRates #EconomicGrowth

https://www.cnbc.com/2024/07/09/fed-chief-powell-says-holding-rates-high-for-too-long-could-jeopardize-economic-growth.html


Singapore state investor Temasek to focus on early adopters of AI in the U.S.; cautious on China
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Singapore state investor Temasek plans to focus on early adopters of AI in the U.S. and be cautious on the Chinese market. Temasek's chief investment officer, Rohit Sipahimalani, stated that while the U.S. overall appears to be expensive, the S&P equal weight index is below its long-term average. Temasek's portfolio value rose to $389 billion Singapore dollars ($288 billion) in its financial year ended March. The firm is also optimistic about opportunities in India and Japan. Temasek's exposure to U.S. assets is not specified, but the Americas region constituted 22% of its portfolio. Chinese assets made up 19% of Temasek's portfolio, down from 22% in the previous financial year. Temasek is cautious about the Chinese market due to structural challenges and the need for an increase in domestic demand. The firm sees opportunities in sectors such as biotech, robotics, electrification, and the electric vehicle value chain. Temasek is also looking to invest in Japan, where it has seen a pickup in foreign investor interest. The firm has increased its exposure to Japan to 1% and is interested in co-investments alongside private equity funds. Temasek also sees opportunities in India and Europe, particularly in the green energy transition. For the 2024 financial year, Temasek has made SG$26 billion of investments into sectors such as technology, financial services, and healthcare. Temasek's mark to market net portfolio value stood at SG$420 billion. The firm does not have a specific target ratio for unlisted and listed assets in its portfolio but will invest when it finds the right opportunities. Temasek's one-year total shareholder return was up 1.6%, while the 10-year total shareholder return held steady at 6%. The company divested SG$33 billion for the financial year, resulting in a net divestment of SG$7 billion.

#Temasek #Ai #Us #China #Investments #Portfolio #Japan #India #GreenEnergy

https://www.cnbc.com/2024/07/09/singapore-state-investor-temasek-to-focus-on-early-adopters-of-ai-in-the-us-cautious-on-china-.html


Stock futures open lower as investors await inflation data, bank earnings this week: Live updates
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Stock futures opened lower as investors await inflation data and bank earnings this week. Futures tied to the S&P 500 were down 0.1%, while futures tied to the Dow Jones Industrial Average lost 31 points. The Nasdaq 100 futures hovered below flat. The S&P 500 has rallied about 16.7% this year, and the benchmark index just had its fourth positive week in the last five. The June consumer price index will be released on Thursday, and the producer price index data will be released on Friday. Traders are expecting two interest rate cuts in 2024, with the first in September. Major banks, including JPMorgan Chase, will kick off second-quarter earnings season this week. PepsiCo is also set to post results. Stocks opened in the red on Sunday evening.

#StockFutures #InflationData #BankEarnings #S&p500 #DowJonesIndustrialAverage #Nasdaq100 #InterestRateCuts #JpmorganChase #Pepsico

https://www.cnbc.com/2024/07/07/stock-futures-open-lower-as-investors-await-inflation-data-this-week-live-updates-.html


Microsoft reaches settlement in California over claims it punished employees for taking protected time off
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Microsoft has agreed to pay $14.4 million to settle claims that the company unfairly treated California employees who took protected time off. The settlement money will go to affected employees. Managers and human-resources workers will receive training if a judge approves the proposed settlement. According to the complaint, Microsoft doesn't do enough to stop managers from taking protected leave into consideration when assessing an employee's' "impact," a factor that's involved in the calculation of annual bonuses, promotions, stock awards, and merit increases. Microsoft employs around 6,700 people in California out of its total workforce of 221,000. As part of the settlement, Microsoft will provide training to managers and human-resources employees and will be monitored for compliance. Employees have reported feeling worried about retaliation after asking for protected leave. Microsoft disputes the agency's claims.

#Microsoft #Settlement #ProtectedTimeOff #California #Employees

https://www.cnbc.com/2024/07/03/microsoft-to-settle-case-on-protected-leave-for-california-employees.html


European economy on a much more 'stable path' than U.S., Bank of Portugal's Mario Centeno says
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Bank of Portugal's Mario Centeno states that the European economy is on a more stable path than the U.S. economy. He believes that the rate policies of the Federal Reserve (Fed) and the European Central Bank (ECB) will diverge due to the differences in their economies. The market is assigning a higher probability of a Trump election win, according to Societe Generale's Rajappa. The article provides links to various sections on the CNBC website, including pre-markets, U.S. markets, futures and commodities, funds and ETFs, and more. The article does not provide specific dates or timelines.

https://www.cnbc.com/video/2024/07/02/bank-of-portugals-mario-centeno-eu-on-more-stable-path-than-us.html


What to know ahead of Friday's Russell index rebalancing
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The annual reconstitution of the Russell indexes is scheduled to take place on Friday's market close. Technology and healthcare sectors are playing key roles in this year's rebalancing. The Russell 1000 is being replenished by technology companies, reflecting the reengineering of the U.S. economy around technology. Small-cap stocks in the Russell 2000 index are seeing a boost in the healthcare sector, with 41 of the 243 companies joining the index falling under healthcare. The sector's weighting is expected to increase to 16.7% from 14.7% after the rebalancing. Technology retains its status as the largest sector, with a weighting of 34.6%. The Russell 1000 has gained 13.9% so far in 2024, while the Russell 2000 is up by half a percent.

#RussellIndex #Rebalancing #Technology #Healthcare #Stocks

https://www.cnbc.com/2024/06/28/russell-reconstitution-to-emphasize-technology-health-care-ceo.html


Trump threatens U.S. economic framework in a 'significant way': billionaire investor Tom Steyer
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Billionaire investor Tom Steyer warns that President Trump is threatening the U.S. economic framework in a significant way. Steyer expresses concern about the impact of Trump's policies on the economy and believes that they pose a significant risk. The article does not provide specific details about the nature of the threat or the specific policies that Steyer is referring to. The article also mentions other news topics such as Hims & Hers shares falling on a report about drugs from a 'shady supplier', a jury ordering the NFL to pay $4.7 billion in damages in a Sunday Ticket trial, and the generative AI funding race heating up. The article does not provide any additional information or analysis on these topics. The article is hosted by Brian Sullivan and is part of the "Last Call" show on CNBC. The article does not provide a publication date or time. The genre of the article is not specified. The article does not provide any tags or taxonomy information. There is no flag applicable to this article.

https://www.cnbc.com/video/2024/06/27/trump-threatens-u-s-economic-framework-in-a-significant-way-billionaire-investor-tom-steyer.html


Biden Cabinet officials roll out new plans to cut costs of living ahead of Trump debate
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Biden Cabinet officials, including Treasury Secretary Janet Yellen, National Economic Council Director Lael Brainard, and Transportation Secretary Pete Buttigieg, have been on a 10-day tour across the U.S. to promote President Biden's economic agenda. The tour included 29 public events in 15 states, including key battlegrounds. The officials have announced new plans to lower costs, such as temporarily lowering the out-of-pocket costs of some prescription medications for seniors and creating a $100 million affordable housing fund. The goal of the tour is to showcase Biden's economic agenda and counter Republican narratives about inflation. The tour comes as consumer confidence has slightly decreased this month. The Department of Labor is set to release weekly initial jobless claims data and an updated estimate of U.S. Gross Domestic Product on the day of the debate. The Federal Reserve will also release May data from the Personal Consumptions Expenditure index, which will further test the candidates' claims about the economy.

#BidenCabinet #EconomicAgenda #CostsOfLiving #TrumpDebate #PrescriptionMedications #AffordableHousing #ConsumerConfidence #JoblessClaims #GrossDomesticProduct #Inflation

https://www.cnbc.com/2024/06/26/biden-cabinet-economy-publicity-trump-debate-election.html


Treasury yields climb as investors weigh comments from Fed speakers
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U.S. Treasury yields were higher on Wednesday as investors considered the latest comments from Federal Reserve officials about monetary policy and awaited key economic data. At 3:56 a.m. ET, the yield on the 10-year Treasury note was up by over three basis points to 4.2728%. The 30-year yield was last at 4.7306% after rising by close to four basis points. Investors digested remarks from Federal Reserve officials about the U.S. economy and the outlook for interest rates. Fed Governor Michelle Bowman said the central bank was not ready to cut rates, but did not take further interest rate hikes off the table. Fed Governor Lisa Cook expects little change to inflation rates this year, but sees inflation slowing more sharply next year. Investors also looked ahead to key economic data due later in the week, including the personal consumption expenditure price index on Friday. On Wednesday, investors will be following the release of durable goods orders, pending home sales, and weekly initial jobless claims. A final reading of first-quarter gross domestic product for the U.S. is also slated.

https://www.cnbc.com/2024/06/26/us-treasury-yields-as-investors-weigh-fed-speaker-comments.html


Treasury yields are flat as investors gear up for inflation data
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Treasury yields are flat as investors gear up for inflation data. The 10-year Treasury yield is flat at 4.257% and the 2-year Treasury yield is slightly higher at 4.736%. Investors are looking for signs that September may be the month for an interest rate cut from the Federal Reserve. The personal consumption expenditures price index, the Fed's preferred inflation gauge, is expected to cool to 2.6% in May from 2.8% in April. Traders are currently pricing in a 66% chance of a September cut. Various Fed officials are due to speak this week and data on house prices, new home sales, jobless claims, and consumer confidence will be released. The rate of first-quarter growth in the U.S. economy is expected to be confirmed at 1.6%.

#TreasuryYields #InflationData #FederalReserve

https://www.cnbc.com/2024/06/24/treasury-yields-are-flat-as-investors-gear-up-for-inflation-data.html


CNBC Daily Open: Nvidia unseats Microsoft as world's most valuable company
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Nvidia surpassed Microsoft to become the world's most valuable public company with a market cap of $3.34 trillion. This milestone comes after a 170% surge in Nvidia's share price this year and a more than nine-fold increase since the end of 2022. Nvidia has an 80% share of the data center AI chip market. The S&P 500 dethroned Microsoft as the world's most valuable company. May retail sales raised concerns about the US economy. US retail spending grew by a meager 0.1% in May, signaling a slowdown in consumer spending. Taiwan Weighted index rose to a record high, crossing the 23,000 barrier. The Federal Reserve has signaled a possible rate cut by the end of the year. Boston Federal Reserve President Susan Collins expressed cautious optimism about recent inflation data. Federal Reserve Governor Adriana Kugler signaled the likelihood of a rate cut later this year. Wall Street is aware of the risk of tipping the economy into contraction by not cutting rates now.

#Nvidia #Microsoft #MarketCap #AiChipMarket #S&p500 #RetailSales #UsEconomy #TaiwanWeightedIndex #FederalReserve #RateCut #InflationData #WallStreet

https://www.cnbc.com/2024/06/19/cnbc-daily-open-nvidia-unseats-microsoft-as-worlds-most-valuable-company.html


New US truck, SUV fuel economy rules much less stringent than original proposal
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The US National Highway Traffic Safety Administration (NHTSA) has finalized fuel economy rules for trucks and SUVs through 2031 that are less stringent than originally proposed. The final rule will not require any increase in fuel economy standards for light trucks in 2027 and 2028, and will only require 2% increases from 2029 through 2031. The proposed new rules will result in much lower compliance penalties than originally proposed, which is seen as a significant win for Detroit automakers. Under the final rule, the auto industry is collectively expected to face a total of up to $1.83 billion in fines through 2031. The rule will hike fuel economy to about 50.4 miles per gallon by 2031 from the current 29.1 mpg. The Biden administration has taken several regulatory actions that did not tighten vehicle regulatory proposals as much as promised. Environmental groups have criticized the changes, while automakers have praised them.

#Us #Trucks #Suvs #FuelEconomy #Nhtsa #DetroitAutomakers #CompliancePenalties #BidenAdministration

https://www.cnbc.com/2024/06/07/us-truck-suv-fuel-economy-rules-less-stringent-than-original-proposal-biden.html


Biden touts ‘great American comeback' after better-than-expected May jobs report
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President Joe Biden touts the May jobs report, which showed that the U.S. economy added 272,000 nonfarm payrolls in May, surpassing the Dow Jones consensus estimate of 190,000. The unemployment rate rose from 3.9% to 4%, and the labor force participation rate decreased slightly to 62.5%. Biden calls it 'the great American comeback' and criticizes Congressional Republicans' economic plan. The strong job growth counters fears of a labor market slowdown and reduces the chance of the Federal Reserve lowering interest rates. Biden has been using the Dow's latest milestone to highlight his economic record and criticize former President Donald Trump. The Republican plan is accused of putting billionaires and special interests first and increasing inflation by repealing the Affordable Care Act.

#JoeBiden #MayJobsReport #UsEconomy #CongressionalRepublicans #FederalReserve #DonaldTrump #RepublicanPlan

https://www.cnbc.com/2024/06/07/biden-cheers-may-jobs-report-slams-congressional-gop-economic-plan.html


CNBC Daily Open: Dow drops on weak manufacturing data, GameStop soars
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The Dow Jones Industrial Average dropped more than 100 points after weak manufacturing data raised concerns about the strength of the U.S. economy. However, the S&P 500 edged higher by 0.11%, while the Nasdaq Composite gained 0.56%. GameStop closed 21% higher after jumping more than 70%, as meme stock leader Keith Gill appeared to hold on to a massive position in the video game retailer. Gill, who goes by "DeepF-----Value" on Reddit and "Roaring Kitty" on YouTube and X, posted a screenshot of his portfolio on Monday, showing the value of his common stock alone jumped to $140 million from $115.7 million as of Friday's close. Microsoft will cut some jobs at its augmented reality headset department that helps make HoloLens. Paramount and Skydance have agreed to merger terms of a deal valued at $8 billion. Novartis and Merck reported that their combination therapy, administered to patients with the deadliest form of skin cancer in conjunction with the therapy Keytruda, demonstrated improved survival rates and durable efficacy. Concerns about the strength of the economy weighed on the Dow. The Atlanta Federal Reserve's tracker sharply lowered its second-quarter growth forecast to 1.8% from 2.7%, following disappointing news from the manufacturing sector.

#DowJonesIndustrialAverage #S&p500 #NasdaqComposite #Gamestop #KeithGill #Microsoft #Hololens #Paramount #Skydance #Novartis #Merck #Keytruda #Economy #AtlantaFederalReserve

https://www.cnbc.com/2024/06/04/cnbc-daily-open-dow-drops-on-weak-manufacturing-data-gamestop-soars.html


Japanese billionaire Maezawa cancels moon flyby mission
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Japanese billionaire Yusaku Maezawa has cancelled his "dearMoon" mission, which would have been the first private flight around the moon. The team had originally aimed to make the circumlunar flight with celebrities on board by the end of last year, but that became unfeasible. Maezawa cited uncertainty over the project development and the lack of a clear schedule as the reasons for the cancellation. He signed the contract in 2018 based on the assumption that the launch would come by the end of 2023. Elon Musk's SpaceX named Maezawa its first private passenger in 2018. In 2022, Maezawa announced that K-pop star TOP and DJ Steve Aoki would be among the eight crew members for the mission. The flyby mission was scheduled for this year or later.

#YusakuMaezawa #Spacex #Dearmoon #MoonFlybyMission #SpaceTravel

https://www.cnbc.com/2024/06/01/japanese-billionaire-maezawa-cancels-moon-flyby-mission.html


Utility stocks offer AI exposure and a hedge against a slowing economy at a good price, Goldman says
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Utility stocks are an affordable way to gain exposure to the artificial intelligence trend and hedge against a slowing economy. Utilities have gained nearly 18% in the past three months to become the best performing sector in the S & P 500. The sector's long-term growth prospects are improving due to rising electricity demand from data centers and AI. The utilities' capital expenditure is expected to increase by roughly 36% over the next three years. NextEra, Xcel Energy, Sempra, and Southern Company offer the best exposure to the data center power demand surge. Utilities also offer a way to play defense against a slowing economy. Interest rates, however, are a potential headwind for the sector.

#UtilityStocks #ArtificialIntelligence #SlowingEconomy #GoldmanSachs

https://www.cnbc.com/2024/06/01/utilities-offer-ai-exposure-hedge-against-slowing-economy-goldman-says.html


Dow closes more than 570 points higher to post best day in 2024, stocks wrap a winning May: Live updates
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The Dow Jones Industrial Average jumped 574.84 points, or 1.51%, to 38,686.32, lifted by Apple's respective advances of 7.5% and 2.8%. The S&P 500 added 0.80% to 5,277.51. The Nasdaq Composite ticked lower by 0.01% to 16,735.02, as Amazon and a few other megacap technology stocks took a hit. The S&P 500 and Nasdaq snapped five-week win streaks with slides of 0.51% and 1.1%, respectively. The blue-chip Dow slipped 0.98%, marking a second straight week of losses. Despite the tough week, it was a winning May, with each of the major benchmarks registering a sixth positive month in seven. The Dow added 2.3% this month, while the S&P 500 rose 4.8%. The Nasdaq gained 6.88%, notching its best month going back to November.

https://www.cnbc.com/2024/05/30/stock-market-today-live-updates.html


Europe stocks set for another lower open as global sentiment sours ahead of inflation data
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European stocks are on course for a lower open Thursday, continuing a negative trend this week as global markets come under pressure from rising bond yields. Stoxx 600 index had its worst sessions of the month over the last two days, last closing at its lowest level since May 8. Investors are eagerly awaiting two inflation prints Friday. First to release will be the euro zone, amid over how how many times the European Central Bank will cut interest rates this year beyond its expected first cut at its June meeting next week. That will be followed by the U.S. personal consumption expenditures price index report, the Federal Reserve's preferred inflation gauge. European stock markets are set to extend losses on Thursday, according to IG data. The U.K.'s FTSE 100 was last seen down 36 points at 8,145, Germany's DAX 75 points lower at 18,402, and France's CAC 40 down 26 points at 7,914. Italy's MIB was seen slipping 125 points to 34,146. Shares of Australian miners fell after mining giant BHP walked away from its £38.6 billion ($49 billion) plan to take over rival Anglo American. Shares of BHP lost 1.73%, while counterparts Fortescue Group dropped 1.34% and 2.27% respectively. Although earnings from Salesforce beat analyst estimates by 6 cents, first quarter revenues fell short of expectations. The U.S. economy grew unevenly over the past six weeks while consumers recoiled against higher prices, the Federal Reserve reported Wednesday.

#EuropeanStocks #BondYields #InflationData #Stoxx600 #InterestRates #EuropeanCentralBank #Ftse100 #Dax #Cac40 #Mib #Bhp #AngloAmerican #FortescueGroup #Salesforce #FederalReserve #UsEconomy

https://www.cnbc.com/2024/05/30/europe-stocks-open-to-close-bond-yields-stocks-data.html


10-year Treasury rises as investors weigh state of economy
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U.S. Treasury yields were higher on Wednesday as investors considered the state of the economy and digested a weak auction on the five-year note. The yield on the 10-year Treasury was up by over two basis points to 4.5639%, holding above the 4.5% mark it initially crossed Tuesday. The yield on the five-year note was last less than one basis point higher to 4.9580%. Yields climbed higher Tuesday after a Treasury Department auction of 5-year notes worth $70 billion saw weak demand. The bid-to-cover ratio came in at 2.3, lower than the 2.45 10-auction average. Investors are also awaiting fresh economic data due throughout the week, including the personal consumption expenditures price index on Friday, which is the Fed's favored inflation gauge. Several Fed officials are also due to give remarks this week, which investors will be scanning for fresh hints about the path ahead for interest rates. Minneapolis Fed President Neel Kashkari stated that he was looking for "many more months of positive inflation data" before being comfortable with cutting rates. Fed officials have indicated that patience is needed when it comes to rate cuts, and they are looking for economic data to show inflation is sustainably returning to the central bank's 2% target before moving to ease policy.

#UsTreasuryYields #Economy #Auction #InterestRates #Inflation

https://www.cnbc.com/2024/05/29/us-treasurys-investors-weigh-state-of-economy.html


CEO credits her success to having teachers as parents—here's the 3-sentence mantra they taught her
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Julia Stewart, CEO and founder of Alurx, attributes her success to her parents, who were both high school teachers. She became IHOP's first-ever female CEO in 2002 and later led a risky takeover of Applebee's, creating the company Dine Brands. Stewart emphasizes the importance of lifelong learning and seeking feedback, as well as recognizing that one doesn't have to be the smartest person in the room to be a successful leader.

#Ceo #Teachers #Success #Leadership #Learning

https://www.cnbc.com/2024/05/26/longtime-ihop-ceo-having-teachers-as-parents-made-me-more-successful.html


CNBC Daily Open: Nvidia shares soar on AI boom
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Nvidia shares rose more than 7% and topped $1,000 for the first time in extended trading after its first-quarter earnings and sales beat analysts' expectations. The chipmaker expects second-quarter sales of $28 billion, compared with estimates of $26.6 billion. The company plans to split its stock 10 for 1. Wall Street sank on inflation fears as the Dow Jones plunged more than 200 points, marking its worst day so far this month. The S&P 500 and the Nasdaq Composite also lost ground. JPMorgan Chase CEO Jamie Dimon warned of a possible 'hard landing' for the US economy. Asian markets were mixed, with Hong Kong's Hang Seng index leading losses and Japan's Nikkei 225 rising 1.1%. Hedge funds are investing in under-the-radar AI plays while cutting back on mega caps. Nvidia's shares are up 92% this year and 200% over the last 12 months. The company expects to keep at least 75% of the AI accelerator market. Nvidia is considered the bedrock of the artificial intelligence revolution.

#Nvidia #Ai #StockMarket #Earnings #Inflation #DowJones #S&p500 #NasdaqComposite #JpmorganChase #JamieDimon #AsianMarkets #HedgeFunds

https://www.cnbc.com/2024/05/23/nvidia-soars-on-ai-boom.html


State Department will evacuate Americans from cruise ship, first death confirmed in Europe
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The State Department will evacuate Americans from a cruise ship where the coronavirus has infected passengers. China's National Health Commission reported an additional 143 deaths nationwide, as well as 2,641 new confirmed cases as of Feb. 14. Two weeks after the Lunar New Year holiday was originally supposed to end, Chinese businesses are still getting up to speed. The next two weeks will be crucial in determining the economic impact of the coronavirus, says IMF Managing Director Kristalina Georgieva. Pelosi warned of Chinese telecom giant Huawei's "insidious aggression" and called on other nations to work with the U.S. as the globe races to develop 5G. U.S. prosecutors brought fresh charges against Huawei, accusing the company of stealing trade secrets from American firms and violating sanctions on Iran and North Korea. After its energy business dipped in 2019, Tesla is under pressure to ramp up hiring and production at its solar panel factory in Buffalo, New York. Automakers working to restart manufacturing in China are trying to prevent operations elsewhere from being affected by supply shortages. The Singapore government is warning of scam calls made under the pretext of investigations linked to confirmed cases of coronavirus.

#Coronavirus #StateDepartment #CruiseShip #China #LunarNewYear #Imf #Huawei #Tesla #Automakers #Singapore

https://www.cnbc.com/world-top-news/


Forget U.S. stocks — UBS says Europe's are a better bet. Here's why
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UBS says European stocks are now more attractive than their U.S. counterparts. Factors such as economic data, interest rates, valuations, and earnings play a role in the shift. UBS forecasts that the gap between U.S. and eurozone GDP could soon close. Excess savings in Europe and looser bank lending conditions could benefit growth. Some of Europe's central banks have already begun easing, and the European Central Bank is expected to do so in June. Europe's valuations have started to look more attractive, with a higher equity risk premium and lower sector adjusted P/E compared to the U.S. Relative earnings momentum is moving in Europe's favor. Europe has industry-leading or unique companies without U.S.-based direct competitors.

#Ubs #EuropeanStocks #UsStocks #Investment #EconomicData #InterestRates #Valuations #Earnings #Gdp #CentralBanks #EquityRiskPremium #P/e #EarningsMomentum #TechnologyStocks

https://www.cnbc.com/2024/05/14/forget-us-stocks-ubs-says-europes-are-a-better-bet-heres-why.html


Behind America's divided economy: Booming luxury travel and a jump in 'relief' loans
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The U.S. economy is experiencing a 'K'-shaped recovery, with higher income classes benefiting while lower-income Americans struggle. Luxury brands catering to affluent consumers, such as American Express, are seeing strong spending on high-fee credit cards and travel. On the other hand, lending firm Upstart is witnessing an 80% surge in microloans for cash-strapped Americans. The divergence in economic realities has implications for the Federal Reserve and the overall economy. Lower-income households are facing financial pressures due to the end of fiscal stimulus, rising gas costs, and resumption of student loan payments. They are trading down and cutting back on spending, impacting brands like PepsiCo and Tyson Foods. In contrast, higher-income consumers remain optimistic and continue to spend on experiences and luxury goods. The economic divide has led to a decline in consumer sentiment among lower-income Americans and threatens hopes for a 'soft landing' in the economy. The Federal Reserve is monitoring signs of tightening and the impact of interest rate hikes. The article highlights the need for a comprehensive understanding of the divided economy and its implications for various stakeholders.

#UsEconomy #IncomeInequality #LuxuryTravel #ReliefLoans #ConsumerSpending #EconomicRecovery #FederalReserve

https://www.cnbc.com/2024/05/10/behind-americas-divided-economy-booming-luxury-travel-and-a-jump-in-relief-loans.html


U.S. economy at risk of seeing higher rates, warns NewEdge's Ben Emons
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Ben Emons, from NewEdge Research, warns that the U.S. economy is at risk of seeing higher rates and that a rate cut is unlikely in the near future.

#UsEconomy #InterestRates #BenEmons #NewedgeResearch

https://www.cnbc.com/video/2024/05/09/us-economy-at-risk-of-seeing-higher-rates-warns-newedges-ben-emons.html


Cramer says ongoing rally in utilities is a harbinger of economic slowdown
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CNBC's Jim Cramer suggests that the ongoing rally in the Dow Jones Utility Average indicates a slowing economy and lower interest rates. The utilities sector performs well during economic slowdowns because consumers must pay their utility bills. Cramer also mentions that utilities have to issue a lot of debt to maintain and expand their operations, and they are now spending more to support the growth of data centers. He believes that signs of a slowing economy have been appearing over the last few weeks, and Federal Reserve Chair Jerome Powell's comments about fewer interest rate cuts may have contributed to the slowdown. Cramer concludes that the rally in utilities is a signal that the economy is headed for a slowdown.

https://www.cnbc.com/2024/05/08/cramer-says-ongoing-rally-in-utilities-signals-an-economic-slowdown.html


Megacap tech may be the ultimate ‘quality' play in an uncertain economy, The ETF Store president suggests
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Investors are favoring megacap tech stocks as a quality play due to their tangible earnings and cash on the balance sheet, according to The ETF Store President Nate Geraci. Technology is currently the largest sector in the S&P 500, comprising nearly 30% of the index. The sector's earnings growth rate is projected to reach 23.7% for the first quarter. Even in an economic slowdown, Geraci believes quality tech names can remain in a leadership role as investors seek earnings and cash flow. However, not all tech stocks have performed equally well, with Cathie Wood's Ark Innovation ETF down 15% since the start of the year. Geraci suggests that investors are shying away from speculative bets and companies with earnings far into the future.

#MegacapTech #QualityPlay #UncertainEconomy #EarningsGrowth #InterestRates

https://www.cnbc.com/2024/05/08/why-tech-is-outperforming-markets-despite-higher-interest-rates.html


Warren Buffett says Berkshire Hathaway is looking at an investment in Canada
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Warren Buffett, the billionaire investor, announced that Berkshire Hathaway is considering an investment in Canada. Buffett has previously invested around $300 million in Home Capital Group, a troubled Canadian mortgage underwriter. He stated that Berkshire Hathaway does not expect to make significant investments outside the U.S., but Canada is an exception due to its similarity in operations with the U.S. Buffett did not disclose the specific company he is considering or whether it is public or private. The S&P/TSX Composite Index in Canada is up about 5% this year. The Berkshire Hathaway shareholder meeting is exclusively broadcast on CNBC.

#WarrenBuffett #BerkshireHathaway #Investment #Canada

https://www.cnbc.com/2024/05/04/warren-buffett-says-berkshire-hathaway-is-looking-at-an-investment-in-canada.html