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Oil prices fell as reports on Monday indicated that Israel and Hamas could engage in cease-fire talks this week. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOil prices dropped Monday with energy markets eyeing fading geopolitical risks as Israel and Hamas reportedly move toward cease-fire talks. Cease-fire discussions could begin as soon as Tuesday if both parties agree to meet Cairo, the report said. Analysts say they see as much as a 20% surge for stocks in the sector as conflict and supply disruptions keep prices elevated.
Persons: Antony Blinken, , Brent, Israel, David Rosenberg Organizations: Service, Hamas, West Texas Intermediate, The New York Times, United, Reuters, Bank Locations: Israel, Cairo, United States, Saudi Arabia, Rafah, Russia, Ukraine, OPEC
The Philippines closed all public schools on Monday and Tuesday because of dangerously high temperatures, moving classes online in a country where schools are typically shut because of tropical storms. Over the past week, average temperatures in many parts of the country topped 40 degrees Celsius, or 100 degrees Fahrenheit. Extreme heat is forecast this week to blanket almost the entire country, with the heat index in some regions rising to at least 42 degrees Celsius, or “danger” level, according to the Philippine Atmospheric, Geophysical and Astronomical Services Administration. That designation is the second highest on the agency’s heat index scale. It advised people to avoid exposure to the sun or risk heat stroke, heat exhaustion and cramps.
Organizations: Philippine Atmospheric, Astronomical Services Administration, Department of Education, Sunday Locations: Philippines, Philippine, Manila
A Japan Airlines flight from Dallas to Tokyo was canceled after the captain got drunk in a hotel. AdvertisementA Japan Airlines flight from Dallas to Tokyo was canceled after a captain got drunk at a hotel bar and received a warning from police, the airline said, according to Japanese media. The Mainichi, which cited a statement from Japan Airlines, reported that the captain dined in Dallas last week with other crew members. Japan Airlines did not immediately respond to Business Insider's request for comment. In 2023, a United Airlines pilot who showed up to work under the influence was handed a six-month suspended prison sentence by a French court.
Persons: , Le Parisien Organizations: Japan Airlines, Service, Mainichi, Delta Air Lines, United Airlines, Federal Aviation, Federal Aviation Administration Locations: Dallas, Tokyo, Europe
A view of the damaged buildings and streets after months of Israeli bombardment which have turned the city into piles of rubble and ash in Khan Yunis, Gaza on April 19, 2024. Crude oil futures fell Monday as the U.S. Secretary of State made a renewed diplomatic push in the Middle East to secure a cease-fire in Gaza and head off an Israeli offensive against Rafah. A successful cease-fire agreement would likely further ease the geopolitical risk premium factored into oil prices on fears that the war in Gaza could trigger a broader conflict in the Middle East that disrupts crude supplies. Here are today's energy prices:Secretary of State Antony Blinken held talks with Arab leaders in Saudi Arabia on Monday. He will travel to Israel and Jordan on Tuesday.
Persons: Antony Blinken, Jordan Organizations: U.S, State, Rafah Locations: Khan Yunis, Gaza, Saudi Arabia, Israel
As the busy first-quarter earnings season moves along, several stocks still set to report could be due for big swings. First-quarter earnings have boosted stocks this week, as more than 77% of companies in the S & P 500 have exceeded analysts' expectations, according to FactSet. The S & P 500's year-over-year earnings growth for the first quarter is running at about 5.6%, according to Friday data from LSEG . The names on tap range from big-name AI plays Super Micro Computer and Amazon to health-care giants such as Moderna . Chipmakers Super Micro Computer and Advanced Micro Devices could also see some major moves this week, as they could rise or fall as much as 12.6% and 7.4%, respectively.
Persons: Curtis Nagle, Nagle, Samik Chatterjee, Goldman Sachs, Pinterest Organizations: Dow Jones, Computer, Moderna, CNBC Pro, Bank of America, TikTok, JPMorgan, Super Locations: chipmakers
Products are seen at an Amazon fulfillment center where they are being sorted and shipped out as same-day orders during Cyber Monday at the Same-Day Delivery Facility Fulfillment Center in Tampa, Florida, on Nov. 27, 2023. The company has said it wants to make same- and next-day delivery the standard, and it plans to double the number of same-day delivery facilities in the U.S. within the next few years. Amazon has already stood up more than 55 same-day delivery sites in the U.S., primarily clustered around major metro areas. Same-day sites also condense the fulfillment process, typically spread across multiple Amazon facilities under one roof. Amazon has bolstered investment in fast shipping as traditional retail rivals Walmart and Target have stepped up their delivery game.
Persons: Andy Jassy Organizations: U.S, Amazon, Amazon's, RBC Capital, Walmart, Target Locations: Tampa , Florida, U.S
Traders work on the floor of the New York Stock Exchange during morning trading on February 29, 2024 in New York City. U.S. stock futures were little changed Monday night after a positive start to the week, as investors brace for megacap earnings, the latest Federal Reserve interest rate decision, and a jobs report. S&P 500 futures slid 0.05%, while Nasdaq 100 futures climbed 0.03%. The S&P 500 added 0.32%, while the Nasdaq Composite rose 0.35%. The S&P 500 and Nasdaq Composite are headed for declines of more than 2%, each.
Persons: Stocks, Dan Greenhaus, CNBC's, Jerome Powell's, Eli Lilly Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Apple, Dow Jones, Management, Amazon, Restaurant Brands, PayPal, Devices, Micro Locations: New York City . U.S, China
Investors are preparing for the busiest week of earnings, with Amazon and Apple set to report. On the economic front, investors will be paying attention to the Fed meeting and jobs report. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIt's a big week ahead for the stock market, and so far investors are heading into it feeling upbeat as equity indexes extended their gains from last week in early Monday trades. Economists expect 250,000 jobs to have been added to the economy in April, down from the big March figure of 303,000 jobs adds.
Persons: , Raymond James, Larry Adam, Jerome Powell Organizations: Amazon, Service, Federal
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But the 12 jurors and six alternates hardly look at Trump as they file back and forth past the defense table. Trump is the most famous person on the planet, and the jurors hardly look at him, even from the jury box. Business Insider described this strange-seeming, mutual coyness to veteran Manhattan trial attorneys. "It's very important that the jury see the defendant and the lawyers laughing and smiling together throughout the trial," Lichtman said.
Persons: Trump's, That's, , Donald Trump's, Trump, Donald Trump, Diana Florence, Florence, Jeremy Saland, Saland, Jesse Watters, Gotti Jr, El Chapo Jeffrey Lichtman, John Gotti Jr, El, Lichtman, El Chapo, it's, Yuki Iwamura, Todd Blanche, Gotti, Michael Cohen, Stormy Daniels Organizations: Service, Trump, Business, Prosecutors Locations: York, Manhattan, Florence
A working-level Israeli delegation of Mossad, Shin Bet and the Israeli military officials is expected to travel to Cairo on Tuesday, the Israeli source and another Israeli official said. Hamas has insisted that a permanent ceasefire and a full Israeli withdrawal from Gaza should be part of the agreement. But Israeli sources have characterized the latest Egyptian effort to broker a deal as the last chance to avert that offensive. “The only chance to stop Rafah is a deal,” the Israeli source familiar with the negotiations said. Twenty people, including at least one infant and a toddler, died following an Israeli airstrike over Rafah, Gaza, overnight into Monday, according to hospital officials.
Persons: Shin Bet, Yahya Sinwar, Antony Blinken, , Børge Brende, , Sameh Shoukry, Israel, ” Shoukry, Blinken, John Kirby, Biden, we’ve, “ They’ve, Benjamin Netanyahu, Joe Biden, Mahmmoud Basal, Hijazi Organizations: Jerusalem CNN, CNN, Mossad, Hamas, Economic, White, National Security Council, US, ABC, Israeli, Gaza Civil Locations: Riyadh, Jerusalem, Egypt, Israel, Gaza, Rafah, United States, Cairo, Saudi, , Israeli, Rafah “, Gaza City
It's a big week for the stock market with a deluge of economic data set to be released. AdvertisementIt's going to be a massive week for the stock market as investors prepare for a deluge of economic data and corporate earnings results. Raymond James' chief investment officer Larry Adam highlighted the top five things to watch this week that could have a big impact on stock market prices. Finally, the April jobs report set to be released on Friday will be closely watched by investors. The jobs report will provide an update on the strength of the labor market," Adam said.
Persons: Raymond James, , Larry Adam, Adam, Jerome Powell, Powell, Treasurys Organizations: Fed, Service, Treasury Department, Treasury, Apple, Investors, ISM Manufacturing, Manufacturing
Hong Kong-listed L'Occitane International 's chairman and controlling shareholder will take the French skin-care firm private, valuing it at a maximum of HK$13.91 billion (US$1.78 billion), the company said on Monday. As part of the deal, Austrian billionaire Geiger's investment holding company L'Occitane Groupe in Luxembourg will pay HK$34 for each share not already owned, representing a 30.8% premium to the stock's last close of HK$26 on Feb. 5. L'Occitane Groupe owned 72.39% of the cosmetics company at March-end. The investment holding firm does not intend to increase the offer price for the deal, which comes a few months after Geiger shelved a buyout attempt for the company. J.P. Morgan will be the financial advisor for L'Occitane Groupe.
Persons: Reinold Geiger, Geiger, L'Occitane International's, J.P, Morgan Organizations: HK, Reuters, U.S, L'Occitane Groupe Locations: Hong Kong, Austrian, Luxembourg
Norway's $1.6 trillion wealth fund added to its bets in the biggest technology companies last year after interest in artificial intelligence drove a surge in the sector. Norway's $1.6 trillion sovereign wealth fund says it will continue to advocate for investments based on environmental, social and governance (ESG) factors, brushing off the impact of a green political backlash. Analysts expect the outcome of this year's U.S. presidential election to determine whether the pushback against ESG investment strategies will have a deep and lasting effect. Nicolai Tangen, CEO of Norges Bank Investment Management (NBIM), told CNBC that the country's wealth fund continued to advocate for the ESG agenda. So that's important," Tangen told CNBC's "Squawk Box Europe" on April 23.
Persons: Nicolai Tangen, Tangen, CNBC's Organizations: Norges Bank Investment Management, Republican, Democratic, CNBC Locations: Oslo, Norway, United States, U.S
An employee works on the assembly line of intelligent machinery at a workshop on March 31, 2024 in Qingzhou, Weifang City, Shandong Province of China. Asia-Pacific markets climbed Monday as traders look toward the Federal Reserve's meeting this week, following another hotter-than-expected U.S. inflation reading Friday. March's core personal consumption expenditures, excluding food and energy, rose 2.8% from a year ago, and came in ahead of the 2.7% expected by Dow Jones. Personal spending rose 0.8%, ahead of a 0.7% estimate. In Asia, China's official purchasing managers index for April is expected Tuesday ahead of the Labor Day holiday on Wednesday, along with Japan's industrial production and retail sales data from March.
Persons: Dow Jones Organizations: Labor Locations: Qingzhou, Weifang City, Shandong Province, China . Asia, Pacific, Asia
Evercore ISI reiterates Tesla as in line Evercore ISI lowered its price target on Tesla to $145 per share from $155. Barclays upgrades AT & T to overweight from equal weight Barclays sees "growth quality" for the telecommunications and wireless provider. Barclays downgrades Lululemon to equal weight from overweight Barclays downgraded the maker of athleisure wear due to rising competition. "We initiate coverage of Dave Inc. with a Market Outperform rating and $70 price target representing ~65% upside from the current price." "We are upgrading GWW from EW to OW, while raising our price target from $1,000 to $1,250."
Persons: Evercore, Tesla, Jefferies, LUV, Lululemon, LULU, Dave, Oppenheimer, Instacart, Bernstein, Goldman Sachs, William Blair, Eastman, Morgan Stanley, Berenberg, Melius, Price, Stephens, Grainger Organizations: Airlines, Jefferies, Southwest Airlines, Dynamics, Barclays, Dave Inc, JPMorgan, CART, Apple, Eastman Chemical, Arista Networks, Nvidia, Data, Citi Locations: Americas, China, Tulsa , Oklahoma, Kingsport , Tennessee
CNN —Ministers from the Group of Seven nations have agreed to shut down all their coal plants by 2035 at the latest, a UK minister said on Monday, in a climate policy breakthrough that could influence other countries to do the same. Putting an end date on coal — the most climate-polluting fossil fuel — has been highly controversial at international climate talks. Many of the other G7 nations already have national plans in place to phase out the fossil fuel. “Coal might be the dirtiest, but all fossil fuels need to be ultimately phased out,” he said. Energy, environment and climate ministers are meeting in Turin for talks that are expected to end on Tuesday.
Persons: ” Andrew Bowie, , Dave Jones, Organizations: CNN, Japan, Department for Energy Security, CNBC, Turing, UK Ministry for Energy, US State Department, Energy, European Union Locations: Italy, COP28, Dubai, France, Canada, United States, Japan, Turin, Germany, United Kingdom, China, India, Saudi Arabia, Russia
CNN —A stricter abortion law is set to take effect in Florida on Wednesday — dropping the state’s 15-week ban to a six-week ban — and it will likely affect thousands of people seeking abortion care within the first month alone. In Texas, the number of abortions provided within the formal health-care system dropped by about half after a six-week abortion ban took effect in 2021, and there were thousands more births than expected in the following year. Florida will join Georgia and South Carolina with a six-week ban. The Tampa Bay Abortion Fund anticipates that at least 90% of people who call their hotline will be impacted by a six-week abortion ban and will need to seek abortion care outside of Florida. The six-week ban will only exacerbate those barriers in the cruelest fashion,” Kris Lawler, president of the Tampa Bay Abortion Fund Board said in a statement.
Persons: Court’s Dobbs, Roe, Wade, It’s, don’t, , Virginia —, ” Isaac Maddow, , , Dobbs, Amber Gavin, that’s, Gavin, ” Gavin, Dr, Sanjay Gupta, ” Kris Lawler Organizations: CNN, Guttmacher Institute, ., Florida Supreme, CNN Health, Chicago Abortion, Abortion, Board Locations: Florida, Texas, South Carolina, Georgia, Delaware, Maryland, Virginia, North Carolina, Louisiana, Florida , North Carolina, New York, Tampa, Chicago
Treasury yields fall as investors look to Fed meeting
  + stars: | 2024-04-29 | by ( Sophie Kiderlin | In | ) www.cnbc.com   time to read: +1 min
The 2-year Treasury yield was last more than one basis point lower to 4.9830%. U.S. Treasury yields declined on Monday as investors looked ahead to the Federal Reserve policy meeting and economic data scheduled for this week. Investors awaited the Federal Reserve's meeting, which is set to begin Tuesday and conclude with an interest rate decision and press conference about policymakers' discussions on Wednesday. While markets are widely expecting interest rates to remain unchanged, investors will be closely watching out for policy guidance from the central bank. This comes as recent economy data has suggested resilience from the economy and persistent inflationary pressures.
Persons: Dow Jones, payrolls Organizations: Treasury, U.S, Federal Reserve, Investors
How CEOs are preparing for possible employee protests
  + stars: | 2024-04-29 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +10 min
You can always choose to move on, but remember you don’t have a right to work at most companies. We can’t keep re-litigating when we also have a business to runYou speak with CEOs every day. Most of the CEOs I’ve talked to said they haven’t seen their employees protest, but they’re bracing for it. But I will say that I don’t think it will become that widespread because of how swiftly and unapologetically Google addressed it. I don’t think it will become a thing.
Persons: Sundar Pichai, Bell, Johnny C, Taylor Jr, that’s, we’re, We’re, we’ve, I’m, You’d, They’re, I’ve, Royce, Peter Valdes, “ We’re, , Martin Fritsches, “ That’s, Brian Fung, Sean Lyngaas, Satya Nadella, Sam Altman, Northrop Grumman, Alejandro Mayorkas Organizations: CNN Business, Bell, New York CNN, Google, Tech, Society for Human Resource Management, Companies, Royce, BMW, OpenAI, Microsoft, Department of Homeland Security, Delta Air Lines, DHS, , Amazon Web Services, IBM, Cisco, , Civil Locations: New York, Israel, Chichester , England
Tirzepatide is the active ingredient in both Eli Lilly's diabetes treatment Mounjaro and its anti-obesity drug Zepbound. Based on that calculation, earnings will be lower by about 13 cents per share, he said, in research published last Tuesday. "Strong demand for Mounjaro & Zepbound can easily pull through in 2H24 and make up for any 1H24 shortfalls." For the week ended April 19, combined prescriptions of Mounjaro and Zepbound rose 63% year over year, according to IQVIA. Wells Fargo Mohit Bansal said he expects investors to look past any Trulicity shortfalls as the focus is firmily on Zepbound and Mounjaro for Lilly's future growth.
Persons: Eli Lilly, Eli, James Shin, Lilly, Shin, David Risinger, Zepbound, Wells, Bansal, Jo Walton, Walton, Lilly's, Tirzepatide, Deutsche Bank's Shin, — CNBC's Michael Bloom Organizations: Drug Administration, Deutsche Bank, IMS, UBS, Research, Deutsche, FDA Locations: 2H24, U.S
AdvertisementAmazon will report earnings on Tuesday after the closing bell and Wall Street has its eye on a few key details heading into the call. AdvertisementBofA analysts reiterated their "Buy" rating and $204 price target for the stock, implying a 13% upside from its current levels. AdvertisementAnalysts raised their price target for Amazon stock to $217, implying a 20% upside. The firm maintained its "Buy" rating and $220 price target, implying a 22% upside from the stock's current levels. The firm maintained its "buy" rating and $205 price target for Amazon stock, implying a 14% upside from current levels.
Persons: Goldman Sachs, , Needham, Andy Jassy's, Wells Organizations: Investors, Service, Amazon, Amazon Web Services, Bank of America, Enterprise, Needham Locations: Wells Fargo
As anchor department stores left malls, so did some name-brand chains like Ruby Tuesday, Chili’s, Applebee’s and others. What’s taking their place illustrates a large shift in US tastes: There’s a boom in smaller and regional restaurant chains with a local following. At the same time, many national chains are prioritizing drive-thru locations over their sit-down restaurants in malls. Chick-fil-A restaurants were only located in mall food courts for the company’s first 20 years. “Traditional mall restaurants were casual dining chains like Chili’s, TGI Fridays, and quick-service restaurants in food courts.
Persons: Ruby, What’s, Paul Hennessy, , Chris Simms, Simms, Gabby Jones, Mark Hunter, CBRE, RJ Hottovy, ” Hottovy, David Kim, ” Kim, It’s Organizations: New, New York CNN, Anadolu Agency, Getty, , Food, JCPenney, Nordstrom, Green, Westfield Garden, Bloomberg, Deloitte, NV Locations: New York, Applebee’s, Orlando , Florida, Paramus , New Jersey, United States, Greenbriar, Atlanta, Korean, Henderson
“So that’s not true? That’s not true?”The judge in control of Donald J. Trump’s Manhattan criminal trial had just cut off the former president’s lawyer, Todd Blanche. Mr. Blanche had been in the midst of defending a social media post in which his client wrote that a statement that had been public for years “WAS JUST FOUND!”Mr. Blanche had already acknowledged during the Tuesday hearing that Mr. Trump’s post was false. But the judge, Juan M. Merchan, wasn’t satisfied. But this particular defendant, accused by the Manhattan district attorney’s office of falsifying business records to conceal a sex scandal, has spent five decades spewing thousands and thousands of words, sometimes contradicting himself within minutes, sometimes within the same breath, with little concern for the consequences of what he said.
Persons: Donald J, Todd Blanche, Mr, Blanche, Trump’s, Juan M, wasn’t, Merchan Locations: Manhattan
What is divestment? And does it work?
  + stars: | 2024-04-28 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +8 min
From Princeton University in New Jersey to the University of Southern California in Los Angeles, the same chant can be heard: “Disclose! The specifics of student protesters’ divestment demands vary in scope from school to school. Other students, like those at Cornell University and Yale, are asking their schools to stop investing in weapons manufacturers. Other common threads include demanding universities disclose their investments, sever academic ties with Israeli universities and support a ceasefire in Gaza. Proponents for divestment counter that its value lies in raising awareness and stigmatizing partnerships with targeted regimes or industries.
Persons: , ” Israel, Witold Henisz, Henisz, , Nicholas Dirks, ” Dirks, Dirks, “ They’ll, Anna Cooban, Michelle Bowman, Eli Lilly, Estee Lauder, Jerome Powell Organizations: New, New York CNN, Palestinian, Princeton University, University of Southern, Columbia University Apartheid, Columbia, Cornell University and Yale, Research, The Wharton School, University of Pennsylvania, CNN, University of California, Columbia’s Faculty of Arts and Sciences, Federal Reserve, European Central Bank, Dallas Fed, Samsung, AMD, Starbucks, Benz Group, Volkswagen, PayPal, adidas, Diamondback Energy, Restaurant Brands, Pinterest, Caesars Entertainment, PMI, Conference Board, Mastercard, Qualcomm, Pfizer, Marriott, eBay, US Commerce Department, Apple, Novo Nordisk, Shell, ConocoPhillips, Cigna, Universal Music Group, Hershey, US Labor Department Locations: New York, New Jersey, University of Southern California, Los Angeles, Columbia, Palestine, Israel, Gaza, South Africa, Berkeley, United States, Europe, DoorDash
It's the busiest week of the earnings season, and it could have major consequences for the stock market. This quarter: The fast-food giant is expected to report single-digit earnings and revenue growth from the year-earlier period, LSEG shows. Amazon is set to report earnings after the close. What history shows: Pfizer earnings beat earnings expectations 87% of the time, per Bespoke. Thursday Apple is set to report earnings after the bell.
Persons: Jeffrey Bernstein, Bernstein, JPMorgan's Andrea Teixeira, Teixeira, AMZN, Joseph Feldman, Feldman, AAPL, , Apple Organizations: Apple, Pfizer, IBM, CNBC, Barclays, Investment, Management, AWS, Amazon, pharma, Food and Drug Administration, UBS Locations: China
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