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You can't argue with a market making new record highs, though it's fair game to interrogate the tape about its assumptions and intentions. With the Dow Jones Industrial Average closing above 40,000 for the first time Friday and the S & P 500 settling above 5,300 after hitting a fresh all-time high Wednesday, the advice of history suggests not overthinking it. Keith Lerner, strategist at Truist, marks up a long-term S & P 500 chart to show times when it was at an all-time high. Brian Belski, strategist at BMO, last week lifted his year-end S & P 500 target to a Street-high 5,600 . And, quite remarkably, the stock market low of October 2022 occurred at an S & P 500 forward P/E above 15, with unemployment below 4% and in mid-economic expansion.
Persons: Stocks, Keith Lerner, Ned Davis, Brian Belski, Leuthold, Doug Ramsey Organizations: Treasury, Dow Jones, Dow, Ned Davis Research, Investment, Bank, Federal, BMO, Citi U.S, Vegas, Fed, Leuthold Locations: U.S
Cramer's Lightning Round: ServiceNow is a buy
  + stars: | 2024-05-15 | by ( Julie Coleman | ) www.cnbc.com   time to read: 1 min
Stock Chart Icon Stock chart icon Matterport's year-to-date stock performance. Let's leave it behind..."Stock Chart Icon Stock chart icon Safehold's year-to-date stock performance. Stock Chart Icon Stock chart icon ServiceNow's year-to-date stock performance. Stock Chart Icon Stock chart icon Oklo's year-to-date stock performance. Stock Chart Icon Stock chart icon Canopy Growth's year-to-date stock performance.
Organizations: GE Vernova
Central banks accounted for one-quarter of gold demand in 2022 and 2023, as the institutions bought over 1,000 tons of gold each year, according to the World Gold Council in a recent report. Related storiesThe world's central banks continued buying gold, snapping up 290 tons of gold in the first quarter of this year — the strongest start to any year on record, according to the council. AdvertisementThis suggests that gold purchases by some central banks may have been driven by concerns about sanctions risk, Gopinath said. Central banks will keep buying, despite high pricesWhile China's central bank gold buying has been hogging the headlines, other central banks are also loading up on gold. The World Gold Council wrote in its recent report that other big gold buyers included Turkey and India.
Persons: , Gita Gopinath, it's, Gopinath, IMF's Gopinath Organizations: Service, Monetary Fund, Business, World Gold, US Treasury, Agency, JPMorgan Locations: Ukraine, Central, Russia, China, Turkey, India
"So looking at even a $150,000 price tag for a house, you're just like, when is that ever going to happen?" In the fourth quarter of 2019, millennials held $3.5 trillion in real estate wealth; as of the fourth quarter of 2023, that's more than doubled. Average millennial wealth doubled between 2019 and 2023, according to an analysis from the Center for American Progress. For example, Gen Xers' real wealth grew by only 4% in the four years following 2007's Great Recession. Baby boomers' real wealth grew by 46% in the four years after the 1990 recession.
Persons: , James Barnes, Barnes, you'd, millennials, Khary, Gen Xers, boomers, Joe Biden, Biden, didn't, Amanda, Rob Gruijters, They're, there's, Caitlin de Oliveira, she's Organizations: Service, Navy, BI, Center for American Progress, University of Cambridge, Research Locations: Lawrenceville , Georgia, Atlanta, Alabama, , Texas
Carter Osborne spent two months agonizing over whether to leave his full-time job for his tutoring side hustle. By that November, he was looking for a new full-time job — and realized none of his options had "that deep, passionate, resonate feeling that education has,'" says Osborne, 29. Decision made: Tutoring would become his full-time job. Osborne left the PR firm in January, and is already finding that with more availability, he can take on more clients. Despite spring being a slow season for college admission tutoring, he already has 24 clients on his roster, he says.
Persons: Carter Osborne, , Osborne, I've Organizations: CNBC, Pitzer College Locations: Claremont , California
April Simpkins published her daughter Cheslie Kryst's memoir after the ex-Miss USA died by suicide. AdvertisementOver the years, April Simpkins had become used to her thoughtful daughter, former Miss USA Cheslie Kryst, sending her care packages full of goodies. Cheslie Kryst, a former Miss USA, died by suicide in 2022 at the age of 30. AdvertisementSimpkins once suggested she employ a part-time assistant to help her balance her legal career, Miss USA commitments, and philanthropic work. The mom said she was thrilled by her daughter's dedication when she won Miss USA in May 2019.
Persons: Simpkins, Cheslie, Miss USA, , Miss USA Cheslie, Kryst, Evan Agostini Simpkins —, " Simpkins, it's, Kryst didn't, I've Organizations: Miss, Business, Service, Miss USA, Mental Health, National Alliance, Mental, Kryst Foundation Locations: New York, North Carolina
I've been a college professor for 20 years, and I'm seeing more Gen X and Baby Boomer students. I no longer lecture to the class and instead let the older students take the lead. An increasing number of college students aren't kids anymore; they're older — many of whom are my generational peers. It's changed the way students learn and the way I teach. I quickly realized they learn differentlyI've noticed that older learners engage in ways that are different from traditional college students.
Persons: I've, Baby Boomer, , there's, Gen Xers, It's, reboots, diversifies Organizations: Service, Boomers
Gold bracelets at a gold jewelry store in the Zhejiang Province of China. Thousands of people in China have been duped into forking out money on "fake gold" — inferior or artificial gold — after trying to purchase so-called "999 gold" online, according to the government. The purest form of gold is commonly referred to as 999 gold, because it has gold content of 99.9%. "Fake gold is becoming a major problem in China as more Chinese are looking to put their savings into gold," said China Market Research Group's Managing Director Shaun Rein. Fake gold gets darker or reveals a greenish color when placed under flame, while pure gold turns brighter on exposure to heat.
Persons: Shaun Rein, Nikos Kavalis, Rein, Taobao, Pinduoduo Organizations: Visual China, Getty, Research, India, World Gold, Metals, ChinaFotoPress Locations: Zhejiang Province, China, scammers, Nantong
The recent gold rally is counterintuitive, as high interest rates typically make bullion less attractive. But billionaire investor David Einhorn has a theory that he shared in his latest investor letter. Einhorn suggests that gold's rally is potentially due to countries in the East buying gold from Western nations. To explain the strong run for gold, billionaire investor David Einhorn offered a potential theory in his latest letter to investors published this week. Others, like billionaire investor Ray Dalio, say gold can hedge risks stemming from high government debt levels.
Persons: David Einhorn, Einhorn, , there's, David Rosenberg, Ed Yardeni, Ray Dalio Organizations: Service, Federal, Greenlight, World Gold, People's Bank of Locations: China, People's Bank of China, India, Singapore
This would force interest rates to stay higher for longer, putting pressure on US businesses and consumers. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA pair of economic reports has brought back a word no central banker ever wants to hear: stagflation. The difficult scenario occurs when inflation rises and growth stalls, a dangerous combination just experienced by the US economy.
Persons: stagflation, , Thursday's, LPL, Jeffrey Roach, Mike Reynolds, Reynolds, Jamie Dimon, Roach, shouldn't Organizations: Service, Federal, yesterday's, Fed, Wall Street, Bank of America
Head coach Arne Slot of Feyenoord looks on after the Dutch Eredivisie match between Go Ahead Eagles and Feyenoord at De Adelaarshorst on April 25, 2024 in Deventer, Netherlands. Liverpool and Feyenoord have reached an agreement in principle over a compensation package for Arne Slot to become Jurgen Klopp's successor. The compensation package is £7.7m, plus £1.7m in add-ons. Sporting coach Ruben Amorim had made Liverpool's shortlist, and despite the external noise over him, the club always maintained he was not the leading or preferred option. Suggestions that financial reasons were behind Amorim not being the frontrunner for the Anfield job has been termed fiction.
Persons: Arne Slot, Arne, Jurgen Klopp's, Xabi Alonso, Ruben Amorim, Amorim Organizations: Feyenoord, Dutch, Go Ahead Eagles, De, Liverpool, Bayer Leverkusen, Sporting, Anfield Locations: De Adelaarshorst, Deventer , Netherlands, West Ham
This would force interest rates to stay higher for longer, putting pressure on US businesses and consumers. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA pair of economic reports has brought back a word no central banker ever wants to hear: stagflation. The difficult scenario occurs when inflation rises and growth stalls, a dangerous combination just experienced by the US economy.
Persons: stagflation, , Thursday's, LPL, Jeffrey Roach, Mike Reynolds, Reynolds, Jamie Dimon, Roach, shouldn't Organizations: Service, Federal, yesterday's, Fed, Wall Street, Bank of America
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewLuca Guadagnino's "Challengers" isn't based on any real tennis players, but an infamous moment from the US Open unintentionally planted the seed for the film's juicy premise. The drama stars Zendaya as Tashi Duncan, a tennis prodigy turned coach whose competitive career ends after an on-court knee injury. This story is available exclusively to Business Insider subscribers. As the incident unfolded during the second set, with the tournament referee and a WTA supervisor stepping in to assess the situation, Osaka, who grew up idolizing Williams, kept her composure.
Persons: , Luca Guadagnino's, isn't, Zendaya, Tashi Duncan, Art Donaldson, Mike Faist, Patrick Zweig, Josh O'Connor, Tashi, Patrick, Niko Tavernise, Justin Kuritzkes, Naomi Osaka, Serena Williams, Carlos Ramos, Williams, idolizing Williams, Kuritzkes, Chris Trotman Organizations: Service, Business, Goldwyn, Mayer, Business Insider, WTA Locations: Osaka
Francisco Rivera quit his tutoring job in December after his side hustle brought in six-figures in 2023. DON'T MISS: The ultimate guide to earning passive income online Rivera estimates 30% to 50% of each sale is profit. The success of Rivera's Etsy shop allowed him to quit his tutoring job in December. Leveraging existing skillsAfter college, Rivera worked in Apple stores in the Dallas-Fort Worth area for three years. Rivera started seeking new ways to make income when demand for online tutoring waned after the pandemic, he says.
Persons: Francisco Rivera, Francisco Rivera's, Rivera, Rivera's, he's, Bali —, That's Organizations: Sail University, Apple, CNBC, Outschool Locations: Bali, Dallas, Fort Worth, Orlando
Gold and copper have been on fire, as geopolitical tensions mount, central banks buy up gold, and AI demand for copper grows. Copper, too, has done well, with copper futures hitting their highest level since 2022 last weekend. Stock picks He named Australian gold miner Northern Star and copper miner Southern Copper as stocks he's bullish on right now. He said against that backdrop, he's getting back into some gold mining stocks such as Gold Fields and K92 Mining. It said that copper demand will already "significantly exceed" supply starting this year — and that's not even accounting for demand growth from data centers.
Persons: Kingsley Jones, Jevons, CNBC's, Jones, Kamil Dimmich, Dimmich, he's, that's, Jefferies, Teck, Ian Roper, Michael Bloom Organizations: Wall Street, U.S . Federal Reserve, Stock, Northern Star, South, K92 Mining, Jefferies, JPMorgan, Teck Resources, North, Astris Advisory Japan KK, CNBC Locations: USA, Europe, South Capital, East, China, Freeport, McMoRan, Lundin, Teck, North America
Gold prices slip to 2-1/2-week low as Middle East tensions ease
  + stars: | 2024-04-23 | by ( ) www.cnbc.com   time to read: +2 min
Pure 1,000-gram gold bars produced by South Korea's LS-Nikko are stacked in a dealers room in Seoul on Jan. 9, 2009. Spot gold was down nearly 1% at $2,304.99 per ounce, as of 0336 GMT. U.S. gold futures fell 1.2% to $2,318.80. "Investors are seeing this as an opportunity to lock in some profits after gold's recent run of good form," Waterer said. Among other precious metals, spot silver fell about 1% to $26.92 per ounce, spot platinum dropped 0.7% to $911.10, and palladium slumped 1.1% to $997.75.
Persons: Tim Waterer, Waterer, Gold Organizations: South Korea's, Nikko, KCM Locations: Seoul, Iran
China's consumers and its central bank are snapping up gold, even as a falling yuan makes the metal pricier. AdvertisementChina's central bank has also been buying up gold, in much larger quantities than Gen Z's few grams of beans. Related storiesIn 2023, China's central bank bought 225 tons of gold, per the World Gold Council. The two economies have been jostled in the top spots for years, but China's buying spree last year put India behind. Advertisement"The amount of central bank buying is not justifying gold prices at current levels," she wrote.
Persons: , It's, Georgette Boele Organizations: Service, Bloomberg, People's Bank of China, Gold, World Gold Council, ABN AMRO Locations: China, China's, India, Poland, Singapore, Germany
Bitcoin miners brace for impact as halving goes live
  + stars: | 2024-04-21 | by ( Mackenzie Sigalos | ) www.cnbc.com   time to read: +17 min
The technical event is relatively simple: Bitcoin miners get paid in bitcoin to validate transactions, and after 210,000 blocks of transactions are computed and added to the main chain, the reward given to the miners securing bitcoin is 'halved.' The aggregate market cap of the 14 U.S.-listed bitcoin miners tracked by JPMorgan analysts declined 28% over the first half of April to $14.2 billion, reaching year-to-date lows. Some have billed the 2024 bitcoin halving as a seminal moment for the mining sector. Marathon, along with other mining firms, has begun diversifying its business model into ancillary operations beyond purely bitcoin mining. Sullivan continued, "Bitcoin mining sites can only be repurposed if they meet the attributes that are required for HPC.
Persons: AUSTIN , TEXAS — Adam Sullivan, bitcoin, Sullivan, they'll, it's, Core's Sullivan, Bitdeer, Needham, Haris Basit, Basit, Cantor Fitzgerald, Greg Beard, Beard, Bitdeer's, Jason Les, Les, Fred Thiel, Capex, Thiel, Stronghold's Beard, Nic Carter, Blackrock, Bill Barhydt, Barhydt, Island's Carter isn't, Carter, CoinShares Organizations: bitcoin, CNBC, JPMorgan, Cipher, Bitdeer Technologies, Mining, Miners, Riot, Island Ventures, Circuits, Nvidia, CoreWeave, Bitcoin, HPC Locations: AUSTIN , TEXAS, Texas, bitcoin, U.S, Rockdale , Texas, Singapore, Bitcoin, Hong Kong, Abra, Europe, Dalton , Georgia, North America
It's hard for me to separate what is him being a regular teenager and what is his condition. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In the years since his diagnosis, his ADHD has manifested in many ways: hyperactivity, impulsivity, inattention, loss of focus, etc. Not because his teen angst is especially extreme or his ADHD symptoms have intensified, but because it is hard for me to separate the two. I'm trying to be a better dad for himNewsflash: teenagers aren't the most open-minded recipients of serious discussions about behavior (or about anything), and having substantial conversations with ADHD teens requires even more patience and understanding.
Persons: , he's, — I'm, it's, It's Organizations: Service
Ingots of 99.99 percent pure gold are placed in a workroom at Novosibirsk Refining Plant, Russia on September 15, 2023. Gold prices rose on Friday as risk aversion swept across financial markets following media reports on explosions in Iran, prompting fears of a wider regional conflict and increasing bullion's safe-haven appeal. The news of Israel's attacks on Iran today "is driving gold price attention on the Middle East which has been the sole thing keeping the gold price moving higher for weeks now. "Gold is not a monetary policy trade at the moment, it's a geopolitics trade," Rodda said. Eventually, even if geopolitical risks subside, "Chinese gold reserve accumulation acts as the major catalyst.
Persons: Bullion, Kyle Rodda, Rodda, Ilya Spivak Organizations: Novosibirsk Refining Plant, Reserve Locations: Novosibirsk, Russia, Iran, Israel
"We realized we couldn't afford the mortgage and the car payments and everything," Stonestreet told me. Americans work more, vacation less, spend more on healthcare, and die sooner than people in other high-income economies. These factors likely explain why some Americans are moving to countries that aren't generally considered low-cost-of-living locales. She said that living abroad afforded her a degree of flexibility and spontaneity that would be out of reach back home. From their temporary perch in Tirana, Albania, the couple told me via WhatsApp that their only regret about moving abroad was not doing it sooner.
Persons: Amelia Basista, Stonestreet, Basista, Maliya, I'm, Fale, scoping, Cristina Johnson, Johnson, Mariana, Dustin Lange, that's, Mariana Lange, Mark Zoril, Andrew Hallam, Zoril, hasn't, — Zoril, Tomorrow's Organizations: State Department, American Citizens, Monmouth University, Labor Statistics, Financial Technology Association, Business Locations: South America, Denver, Cuenca, Ecuador, Germany, Canada, France, Minneapolis, Latin America, America, Puerto Morelos, Mexico, Pennsylvania, Belize, States, Austin, North Carolina, Central America, Portugal, Spain, Lisbon, Europe, Tirana, Albania
Faith Ringgold, pictured in her studio in New York City in 1999. Anthony Barboza/Getty Images(CNN) — Faith Ringgold, the pioneering artist and author best known for her narrative quilts that interwove art with activism, has died at 93. After earning her bachelor’s degree in fine art and education in 1955, Ringgold began teaching art in public schools while developing her own art. Her early work was influenced by civil and racial unrest, and had patent and profound political and social tones. The painting, arguably the series’ most famous, gorily depicts a group of men, women and children brutally attacking one another.
Persons: Faith Ringgold, Anthony Barboza, Faith, , Dorian Bergen, , Ringgold, Ringgold’s adamancy, Jacquelyn Martin, Madame Willi Posey, ” Ringgold, Leila Macor, Connie’s Organizations: New York Times, ACA Galleries, Ringgold, CNN, Harlem, City College of New, City College, Civil, Museum, Modern, Museum of Modern Art, National Museum of Women, Arts, Washington , D.C, New Museum, American, de Young Museum, Museum of Contemporary Art, Basel, Getty Locations: New York City, New Jersey, Harlem, America, African American, Washington ,, Vietnam, Paris, London, New York, San Francisco, Museum of Contemporary Art Chicago, Miami Beach , Florida, AFP
Tessa Wheeler helped lead the dig and taught the team valuable archaeological skills. An exhibit at the Verulamium Museum highlights the contributions. AdvertisementIn the early 1930s, a 13-year-old girl, Helen Carlton-Smith, helped excavate a former Roman settlement. A network of female archaeologistsCarlton-Smith's diary also revealed how Tessa Wheeler helped instruct the men and women working on the excavation. Advertisement"I believe the real heroine of the story is Tessa Wheeler," Diggins said.
Persons: Helen Carlton, Smith, Tessa Wheeler, , Verulamium, Mortimer Wheeler, Tessa Verney Wheeler, Lexi Diggins, Diggins, Smith's, Helen, Helen of Troy, Carlton, Kathleen Kenyon, Peggy Piggot Guido, Tessa Wheeler's Organizations: Verulamium Museum, Service, London Museum, Carlton, St Albans Locations: what's, Hertfordshire, England, Roman, British, Sutton
You'll need to earn just over six figures to buy a typical home in the U.S. right now. San Jose is by far the most priciest place to buy a home, even among 10 other metro areas where qualifying income exceeds $200,000. Some of the wealthiest people in the U.S. live in cities like San Jose, San Francisco and Anaheim. In contrast to California's most expensive markets, the qualifying income needed to buy a typical home in the U.S. overall is $103,835. It's even cheaper in the Midwest and the South, where the qualifying income is $74,967 and $95,511, respectively.
Persons: NAR's Organizations: National Association of Realtors, Thousand Oaks, San, Housing Finance Agency, CNBC Locations: U.S, California, San Jose, Jose, Sunnyvale, Santa Clara , California, Anaheim, Santa Ana, Irvine , California, Francisco, Oakland, Hayward , California, Honolulu, Hawaii, Salinas , California, Diego, Carlsbad , California, Oxnard, Ventura , California, San Luis Obispo, Paso Robles , California, Angeles, Long, Glendale , California, Boulder , Colorado, Naples, Marco Island, Florida, San Francisco, Atherton, Midwest
Nestled against the Rocky Mountains, Boulder, Colorado, has blossomed into a thriving hub for the natural products and wellness industry. The tea company was later acquired by Hain Food Group — now Hain Celestial Group — in 2000 for $390 million. Hain Celestial Group CEO Wendy Davidson (left) and CNBC's Andrea Day (right) trekking along the historic footrails where the founders of Celestial Seasonings gathered wild herbs in 1969. Turning peanut butter into goldThe Boulder County Farmers Market, a vibrant incubator since 1987, exemplifies the region's thriving ecosystem. A sign from the Boulder Farmers Market, operating from April to November, serving as an incubator for numerous small food businesses.
Persons: Wendy Davidson, CNBC's Andrea Day, Davidson, It's, Justin Gold, butters, , Gold, Daniel Acker, Juan Stewart, Stewart, Kristine Carey, Kristy Lewis, Quinn Snacks Organizations: U.S . News, Rockies, Hain Food, Group, CNBC, Leeds School of Business, University of Colorado, Farmers, Boulder Farmers, Foods, Hormel Foods, Bloomberg, Getty, Boulder County Farmers, Kroger, Companies Locations: U.S, CNBC's, Rocky, Boulder , Colorado, Boulder, University of Colorado Boulder, Tiskilwa , Illinois, Boulder County
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