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The annual reading is above the 2% target set by the central bank but is a slight deceleration from the 2.9% annual rate in December and January. Looking ahead to next week, it's all about the macroeconomic updates as the first quarter earnings season is mostly over. ET: ISM Manufacturing PMI After the bell: PVH Corp. (PVH), Canoo (GOEV) Tuesday, April 2 10:00 a.m. ET: ISM Services PMI Before the bell: Acuity Brands (AYI) After the bell: BlackBerry (BB), Levi Strauss (LEVI) Thursday, April 4 8:30 a.m. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
Persons: Dow, payrolls, Paychex, Calvin Klein, Tommy Hilfiger, Buster's, Levi Strauss, LEVI, Lamb Weston, Jim Cramer's, Jim Cramer, Jim, Eric Thayer Organizations: Dow Jones, Nasdaq, Federal, Cal, Maine Foods, Conagra, PVH Corp, PMI, Maine, Brands, Jim Cramer's Charitable, CNBC, Workers, Grand Central Market, Bloomberg, Getty Locations: U.S, Cal, Los Angeles , California
These stocks are overbought and could be due for a pullback
  + stars: | 2023-11-24 | by ( Brian Evans | ) www.cnbc.com   time to read: +2 min
CNBC screened FactSet data to find the most overbought and oversold stocks, based on the relative strength index (RSI). A 14-day RSI reading below 30 indicates a stock is oversold and may present a buying opportunity. A reading above 70 suggests that a stock is overbought and could point to an impending pullback. Telecommunications firm Motorola is also overbought, with its 14-day RSI reading of 94.77. Other overbought stocks on the list include credit reporting agency Equifax and financial services company Nasdaq Inc .
Persons: FactSet, Fred Imbert Organizations: Investors, Reserve, Mastercard, Norfolk, CNBC, FactSet, Revenue, Telecommunications, Motorola, Nasdaq Inc, ConocoPhillips, Cigna, UBS
CNBC Daily Open: Trouble in AI paradise
  + stars: | 2023-11-20 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +3 min
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. [PRO] Nvidia earnings in focus After the flurry of inflation reports last week, this week looks comparatively quiet in terms of economic data releases. In other words, there will be other companies — like Anthropic or Google — more than ready to assume AI leadership. And Nvidia's report, out Tuesday, will in all probability reassure investors shaken by the cracks in the gilded world of generative AI.
Persons: Sam Altman, Michael Herzog, Musk, Stocks, Scott Ladner, OpenAI, Sam Altman's, Ilya, Zachary Lipton, Patrick Moorhead Organizations: APEC, Summit, Moscone West, CNBC, Hamas, Apple, Disney, IBM, Twitter, Media Matters, America, Dow Jones, Nasdaq, Dow, Horizon Investments, Carnegie Mellon University Locations: San Francisco , California, Israel, U.S
CNBC Daily Open: An alternative to Altman
  + stars: | 2023-11-20 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +2 min
Andrew Caballero-reynolds | Afp | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The Nasdaq increased 2.4%, its first three-week positive streak since June. Even if it were the latter, OpenAI is "not the only game in town," as industry analyst Patrick Moorhead put it. In other words, there will be other companies — like Anthropic or Google — more than ready to assume AI leadership.
Persons: Sam Altman, Andrew Caballero, reynolds, Stocks, Scott Ladner, OpenAI, Sam Altman's, Ilya, Zachary Lipton, Patrick Moorhead Organizations: Economic Cooperation, APEC, Afp, Getty, CNBC, Dow Jones, Nasdaq, Dow, Horizon Investments, Carnegie Mellon University Locations: Asia, San Francisco , California, U.S
The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. Order types are programmed instructions traders use to tell exchanges how to handle their trades. M-ELO, first released in 2018, is a strategic order type that enables investors with longer-term horizons to trade with each other using a 10-millisecond waiting period. Nasdaq's research shows that the real-time AI order type has a 20.3% increase in fill rates and an 11.4% reduction in mark-outs, indicating the improvements AI-powered solutions can bring to capital markets. "This new order type can increase order fill rate and reduce holding time if successfully implemented, which could help Nasdaq take market shares from other exchange operators," said Owen Lau, senior analyst at Oppenheimer & Co.
Persons: Owen Lau, Laura Matthews, Mark Porter Organizations: Nasdaq, REUTERS, Nasdaq Inc, U.S . Securities, Exchange Commission, SEC, Oppenheimer, Co, Thomson Locations: New York City, U.S
The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. Youngwood, who has joint French-U.S. citizenship, was named group CFO at UBS in December 2021 and started in the role in May 2022. Earlier this year, Youngwood left UBS after it completed its deal to buy Credit Suisse. Dennison joined Nasdaq in 2015 as chief accounting officer and was elevated to CFO in March 2021. Prior to joining Nasdaq, Dennison served as head of financial reporting at Goldman Sachs Group (GS.N).
Persons: Sarah Youngwood, Ann Dennison, Youngwood, Dennison, Adena Friedman, Tal Cohen, Nelson Griggs, David French, Anirban Sen, Lisa Shumaker, Andy Sullivan Organizations: Nasdaq, REUTERS, Nasdaq Inc, UBS Group AG, U.S, Reuters, UBS, Credit Suisse, JPMorgan Chase &, Consumer & Community, JPMorgan, Goldman Sachs, Thomson Locations: New York City, U.S, Swiss, New York
The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. Nasdaq's current CFO Ann Dennison is expected to step down from her role, the sources said, requesting anonymity as the matter is confidential. Youngwood, who has joint French-U.S. citizenship, was named group CFO at UBS in December 2021 and started in the role in May 2022. Dennison joined Nasdaq in 2015 as chief accounting officer and was elevated to CFO in March 2021. Prior to joining Nasdaq, Dennison served as head of financial reporting at Goldman Sachs Group (GS.N).
Persons: Sarah Youngwood, Ann Dennison, Youngwood, Dennison, Adena Friedman, Tal Cohen, Nelson Griggs, David French, Anirban Sen, Lisa Shumaker Organizations: Nasdaq, REUTERS, Nasdaq Inc, UBS Group AG, UBS, Credit Suisse, JPMorgan Chase &, Consumer & Community, JPMorgan, Goldman Sachs, Thomson Locations: New York City, U.S, Youngwood, Swiss, New York
NEW YORK, Aug 29 (Reuters) - Exchange operator Nasdaq Inc (NDAQ.O) is preparing to name former UBS Group AG (UBSG.S) executive Sarah Youngwood as its new chief financial officer, people familiar with the matter said on Tuesday. Nasdaq's current CFO Ann Dennison is expected to step down from her role, the sources said. Nasdaq did not immediately respond to requests for comment. Youngwood and Denison were not immediately available for comment. Reporting by David French in New York; Editing by Anirban SenOur Standards: The Thomson Reuters Trust Principles.
Persons: Sarah Youngwood, Ann Dennison, Youngwood, Denison, David French, Anirban Sen Organizations: Nasdaq Inc, UBS Group AG, Nasdaq, Thomson Locations: New York
The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. Nasdaq's current CFO Ann Dennison is expected to step down from her role, the sources said, requesting anonymity as the matter is confidential. Youngwood, who has joint French-U.S. citizenship, was named group CFO at UBS in December 2021 and started in the role in May 2022. At JPMorgan, Youngwood held a variety of roles during her 25-year stint at the bank, according to her LinkedIn profile. Dennison joined Nasdaq in 2015 as chief accounting officer and was elevated to CFO in March 2021.
Persons: Sarah Youngwood, Ann Dennison, Youngwood, Dennison, Tal Cohen, Nelson Griggs, David French, Anirban Sen, Lisa Shumaker Organizations: Nasdaq, REUTERS, Nasdaq Inc, UBS Group AG, UBS, Credit Suisse, Swiss, JPMorgan Chase &, Consumer & Community, JPMorgan, Goldman Sachs, Thomson Locations: New York City, U.S, Swiss, New York
Vietnamese internet startup VNG files for IPO in the US
  + stars: | 2023-08-24 | by ( ) www.reuters.com   time to read: +2 min
SINGAPORE, Aug 24 (Reuters) - Vietnamese internet company VNG Corp has filed for an initial public offering (IPO) in the United States via VNG Ltd, a U.S. Securities and Exchange Commission filing showed. IPO proceeds will be used to pay original foreign investors who were direct shareholders of the company and repay outstanding loans, among others, the filing showed. Founded in 2004, VNG was Vietnam's first unicorn, or startup valued at $1 billion or more, and it inked a preliminary agreement in 2017 with U.S. bourse operator Nasdaq Inc to explore an IPO. The Ho Chi Minh City-headquartered company's businesses include online games, payments, cloud services and Vietnam's most popular messaging app, Zalo. Citigroup, Morgan Stanley, UBS, and Bank of America are underwriters of the IPO, according to the filing.
Persons: VNG, Morgan Stanley, VinFast, Seth Farbman, Yantoultra Ngui, Jacqueline Wong, Sonali Paul Organizations: VNG Corp, VNG Ltd, U.S . Securities, Exchange Commission, HK, Temasek, U.S . bourse, Nasdaq Inc, Citigroup, UBS, Bank of America, underwriters, U.S ., DoubleDragon Corp, Nasdaq, Carsome, New, VStock, Thomson Locations: SINGAPORE, United States, Vietnam, U.S, Singapore, Chi Minh City, U.S . Philippine, New York
SummaryCompanies JPMorgan gains on Jefferies' upgrade ahead of earningsMegacaps recover after dip ahead of Nasdaq 100 rebalanceFutures up: Dow 0.02%, S&P 0.11%, Nasdaq 0.16%July 11 (Reuters) - U.S. stock index futures inched higher on Tuesday ahead of key inflation data that could support a sooner-than-expected end to the Federal Reserve's rapid interest-rate hikes. "The big-cap Nasdaq index is going to adjust weightings vs. a full addition or deletion. Also, far more money tracks the S&P 500, which is why S&P 500 component changes get a lot more attention than Nasdaq 100 moves." The S&P 500 banks index (.SPXBK) has shed 9% so far this year in the aftermath of the biggest crisis since 2008 that pummeled regional lenders. The sub-index is underperforming the benchmark S&P 500 index (.SPX), which has notched a 14.9% gain.
Persons: Joshua Warner, Hogan, Jefferies, Johann M Cherian, Shinjini Ganguli, Arun Koyyur Organizations: JPMorgan, Jefferies, Nasdaq, Dow, Federal, Fed, Index, Treasury, Nasdaq Inc, Riley, Dow e, JPMorgan Chase, Zions Bancorp, Truist, Thomson Locations: U.S, Bengaluru
Market heavyweights dip ahead of Nasdaq 100 rebalance
  + stars: | 2023-07-10 | by ( ) www.reuters.com   time to read: +1 min
July 10 (Reuters) - Shares of Apple (AAPL.O), Microsoft (MSFT.O) and other heavyweight companies dipped on Monday after Nasdaq Inc (NDAQ.O) said it would rebalance its Nasdaq 100 index (.NDX) to address the benchmark's "overconcentration." Alphabet (GOOGL.O) and Amazon (AMZN.O) fell over 2%, while Microsoft and Tesla (TSLA.O) each slid more than 1%. Wall Street's most valuable stocks declined after Nasdaq said late on Friday it would carry out a "Special Rebalance" of the index to "address overconcentration in the index by redistributing the weights." The Nasdaq 100 includes 100 of the largest companies that trade on the Nasdaq exchange, and changes to the index will force investment funds that track it to adjust their portfolios and sell shares of companies that have their weight in the index reduced. Wall Street's most valuable companies have been among the biggest winners in the U.S. stock market's recovery this year, further increasing their weight in the Nasdaq 100, and also in the Nasdaq Composite (.IXIC) and S&P 500 (.SPX).
Persons: Tesla, Noel Randewich, Richard Chang Organizations: Apple, Microsoft, Nasdaq Inc, Tesla, Nasdaq, Nvidia, Thomson Locations: U.S
Data showed U.S. retail sales unexpectedly rose in May as consumers spent on a range of goods including vehicles. All 11 S&P 500 sector indexes rose, led by health care (.SPXHC), up 1.55%, followed by a 1.54% gain in communication services (.SPLRCL). The S&P 500 climbed 1.22% to end the session at 4,425.84 points. Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 7.1-to-one ratio. The S&P 500 posted 48 new highs and no new lows; the Nasdaq recorded 80 new highs and 72 new lows.
Persons: TD Cowen, Ross Mayfield, Baird, who'd, David Russell, Kroger, Shristi Achar, Sruthi Shankar, Noel Randewich, Vinay Dwivedi, Shounak Dasgupta, David Gregorio Our Organizations: Nasdaq, Dow, U.S . Federal, Treasury, Apple, Microsoft, Fed, U.S, Market Intelligence, Dow Jones, Kohl's Corp, Alibaba, People's Bank of China, Thomson Locations: China, Bengaluru, Oakland, Calif
Lifted by gains in market heavyweights including increases in both Amazon (AMZN.O) and Tesla (TSLA.O), the S&P 500 has now recovered over 20% from its October 2022 lows. "The further out the October lows get in the rear view mirror, the more confident investors become. According to preliminary data, the S&P 500 (.SPX) gained 40.33 points, or 0.94%, to end at 4,339.19 points, while the Nasdaq Composite (.IXIC) gained 202.78 points, or 1.53%, to 13,461.92. The U.S. Labor Department's consumer price index reading on Tuesday is expected to show inflation cooled slightly in May, with core prices likely remaining sticky. Goldman Sachs on Friday raised its year-end price target for the benchmark S&P 500 (.SPX) to 4,500 from 4,000, citing the broadening of the market rally.
Persons: that's, Jake Dollarhide, Tesla, There's, Dylan Kremer, Goldman Sachs, Morgan, Shristi Achar, Sruthi Shankar, Noel Randewich, Vinay Dwivedi, Sriraj Kalluvila, David Gregorio Our Organizations: Nasdaq, Oracle, Longbow, Management, Dow Jones, U.S, Labor, Traders, Nasdaq Inc, FDA, Broadcom, Reuters, VMware, Thomson Locations: Tulsa , Oklahoma, megacap, Philadelphia, Bengaluru, Oakland, Calif
Futures rise as focus shifts to inflation data, Fed meet
  + stars: | 2023-06-12 | by ( ) www.reuters.com   time to read: +3 min
Goldman Sachs on Friday raised its year-end price target for the benchmark S&P 500 (.SPX) to 4,500 from 4,000, citing the broadening of the market rally. The CBOE volatility index (.VIX) edged up after hitting pre-pandemic levels in the previous week, up 0.71 point to 14.5. Adobe (ADBE.O) shares gained 1.9% after Jefferies raised the Photoshop maker's price target to $530, the second highest on Wall Street. Oracle (ORCL.N) rose 4.1% as J.P. Morgan hiked its price target to $109, ahead of the cloud and enterprise software firm's fourth-quarter results later in the day. Nasdaq Inc (NDAQ.O) slid 7.5% after the exchange operator said it would buy Thoma Bravo-owned software firm Adenza for $10.5 billion.
Persons: Goldman Sachs, stoking, Jefferies, Morgan, Thoma, Shristi Achar, Vinay Dwivedi Organizations: Dow, Nasdaq, U.S, Labor, Traders, Dow e, FDA, . Oracle, HK, Nasdaq Inc, Thoma Bravo, Thomson Locations: megacap, Nio, Bengaluru
"Until we see several months of low or declining inflation, the headline number is still going to be above the 2% target that the Fed has set. Goldman Sachs on Friday raised its year-end price target for the benchmark S&P 500 (.SPX) to 4,500 from 4,000, citing the broadening of the market rally. Oracle (ORCL.N) advanced 4.3%, hitting an all-time high as J.P. Morgan hiked its price target to $109, ahead of the cloud and enterprise software firm's fourth-quarter results later in the day. Technology stocks (.SPLRCT) led gains among the 11 major sectors of the S&P 500 while energy stocks (.SPNY) fell 0.5%, tracking a decline in crude prices. Adobe (ADBE.O) shares gained 1.6% after Jefferies increased the Photoshop maker's price target to $530, the second highest on Wall Street.
Persons: Melissa Brown, Goldman Sachs, Morgan, Thoma, Jefferies, Shristi Achar, Sruthi Shankar, Vinay Dwivedi Organizations: Nasdaq, Dow, Oracle Corp, U.S, Labor, Traders, Oracle, Dow Jones, Nasdaq Inc, Thoma Bravo, FDA, NYSE, Thomson Locations: megacap, Bengaluru
Exchange operator Cboe launches global listing offering
  + stars: | 2023-06-02 | by ( ) www.reuters.com   time to read: +1 min
NEW YORK, June 2 (Reuters) - Exchange operator Cboe Global Markets (CBOE.Z) said on Friday it will let companies list across its U.S. and international exchanges, expanding in a fiercely competitive field dominated in the United States by the New York Stock Exchange and Nasdaq Inc (NDAQ.O). Cboe, which has stock exchanges in North America, Europe, and the Asia-Pacific region, currently lists only its own stock, along with exchange-traded funds, on its U.S. exchange. But financial software firm Abaxx Technologies Inc (ABXX.NLB), which is listed on Cboe Canada, has received conditional approval to be intralisted on Cboe U.S., the exchange operator said. "Cboe has built an expansive, global equities footprint unrivalled in the industry that uniquely positions us to deliver the first-ever truly global listing experience for issuers seeking to tap new markets beyond their home region," Dave Howson, global president of Cboe Global Markets, said in a statement. Exchanges earn recurring revenue from listings and charge various listing fees based on factors such as the amount of shares a company lists.
Persons: Cboe, Dave Howson, John McCrank, Hugh Lawson Organizations: YORK, Cboe, New York Stock Exchange, Nasdaq Inc, Abaxx Technologies, Intercontinental Exchange Inc, NYSE, Nasdaq, Thomson Locations: United States, North America, Europe, Asia, Pacific, Cboe Canada, Cboe, Canada, Netherlands, Australia, Chicago
May 5 (Reuters) - Cboe Global Markets (CBOE.Z), reported a rise in first-quarter profit on Friday, as the exchange operator's trading volumes swelled on heightened market fluctuations amid a banking crisis and rising interest rates. The Chicago-based company, which provides trading platforms for equities, foreign exchange and derivative products across markets in different regions, saw a 13% rise in net revenue to $471.4 million. Cboe's results wrapped up a strong quarter for exchange operators. Earlier this week, New York Stock Exchange-parent Intercontinental Exchange Inc (ICE.N) reported upbeat results. Last month, both Nasdaq Inc (NDAQ.O) and CME Group Inc (CME.O) also beat profit estimates.
Nasdaq profit beats as market volatility bolsters trading
  + stars: | 2023-04-19 | by ( ) www.reuters.com   time to read: +1 min
April 19 (Reuters) - Nasdaq Inc's (NDAQ.O) first-quarter profit beat Wall Street estimates on Wednesday as increased market volatility boosted trading and helped mitigate a hit to the indexing business of the Transatlantic-exchange operator. Trading volumes rose as investors rejigged their portfolios in response to slowdown worries due to a sharp rise in interest rates, persistently high inflation and the banking crisis. Nasdaq's net trading services revenue rose 1% to $267 million, helped by strong growth in North America that offset the decline in European trading. The New York-based company had in the last quarter reorganized its corporate structure into three divisions — market platforms, capital access platforms and anti-financial crime. Reuters GraphicsThe company's net revenue, excluding transaction-based expenses, rose 2% to $914 million.
Exchange operators' shares have outperformed in the past few weeks, with traders and analysts pointing to signs of investors rotating into exchanges, partly at the expense of banks. "Exchange operators are data and technology businesses with defensive utility-like features, while banks are highly cyclical and exposed to idiosyncratic business model risks". Average daily value traded at the London Stock Exchange (LSEG) (LSEG.L) rose 12.9% month-over-month in March. "Investors tend to look at the exchanges as defensive names. "We continue to like exchange stocks."
The NYSE, which is owned by Intercontinental Exchange Inc (ICE.N), said a "system issue" prevented the opening auctions in a subset of its listed securities. The stocks began trading without an opening print, causing erroneous prices that the exchange said will be declared null and void. NYSE ended the day with a normal market close and expected a regular open on Wednesday, Blaugrund added. The NYSE-listed stocks trade on all 16 U.S. stock exchanges, which use the NYSE's prices. In March 2018, the NYSE was the first exchange fined under Reg SCI.
The NYSE, which is owned by Intercontinental Exchange Inc (ICE.N), said it was still investigating and that traders may want to consider filing for erroneous trade claims. "Obviously, there were a lot of stocks that had major issues," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey. Saluzzi said there was "zero failure tolerance" among traders for glitches at the key open and close of trading. The NYSE-listed stocks trade on all 16 U.S. stock exchanges, which use the NYSE's prices. In March 2018, the NYSE was the first exchange fined under Reg SCI.
The NYSE, which is owned by Intercontinental Exchange Inc (ICE.N), said it is still investigating the issue and that traders may want to consider filing for erroneous trade claims. "What appears to have happened is a technical glitch where all of my opening orders on the NYSE autocancelled even though some of them should have been fulfilled," said Dennis Dick, trader at Triple D Trading. The gaffe with the NYSE's opening auction comes as the SEC is considering routing most retail stock orders through auctions with the aim of getting individual investors better prices. The NYSE-listed stocks trade on all 16 U.S. stock exchanges, which use the NYSE's prices. The $14 million fine partly related to a nearly four-hour trading halt in July 2015 that resulted from a flawed software rollout.
Jan 12 (Reuters) - U.S. crypto company Digital Currency Group (DCG) is at the center of the industry's latest meltdown after one of its companies, Genesis, froze customer withdrawals in November. Here is what we know about the many companies Digital Currency Group owns:COINDESKDCG acquired crypto news website CoinDesk in 2016 after previously investing in the outlet. Genesis' crypto lending arm, Genesis Global Capital, announced in November its crypto lending arm would stop making new loans and blocked customers from withdrawing funds, citing the market dislocation caused by the collapse of FTX. Genesis Global Capital had partnered with a number of other crypto companies, including crypto exchange Gemini, to offer a crypto lending product. DCG itself owes $1.675 billion to Genesis' crypto lending arm, according to a November letter Silbert sent to shareholders.
Traders work on the floor of the New York Stock Exchange during morning trading on January 04, 2023 in New York City. Chewing things overU.S. stock markets bounced back a little Wednesday, with the S&P 500 rising 0.75%, the Nasdaq increasing 0.69% and the Dow jumping 133 points. December's jobs report is coming Friday morning, as well, so market watchers still have another big data point to chew over this week. Amazon plans bigger job cutsAmazon CEO Andy Jassy speaks during the GeekWire Summit in Seattle on Oct. 5, 2021. David Ryder | Bloomberg | Getty ImagesAmazon plans to lay off more than 18,000 employees, far more than initially expected.
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