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☆ Here’s what it means when a company like Boeing faces criminal charges
▼ + stars: | 2024-06-29 | by ( Chris Isidore | ) edition.cnn.com time to read: +10 min

While criminal charges against corporations are fairly common, the overwhelming majority are against small, closely-held companies. Earlier criminal settlement now at riskThe potential charges hanging over Boeing currently revolve around that January 2021 deferred prosecution agreement. They have argued Boeing should face new criminal charges and pay a fine as great as $24.9 billion. In May, the Justice Department said it was looking into bringing criminal charges against Boeing once again due to a potential violation of that January 2021 agreement. Arlen said it is common for smaller companies to be forced out of business by criminal charges and the penalties that follow.

Persons: ”, Jennifer Arlen, Arlen, Lindsey Wasson, ” Arlen, “, Max, David Burns, Mark Forkner, Eduardo Soteras, Arthur Andersen Organizations: New, New York CNN, Justice Department, Boeing, Dow Jones, New York University, Control, Max, Federal Aviation Administration, FAA, Alaska Airlines Flight, NTSB, Getty, Alaska Airlines, Prosecutors, CNN, Oil, BP, US Environmental Protection Agency, Ethiopian Airlines Locations: New York, China, Renton , Washington, Alaska, AFP

☆ S&P 500 returns 15% in the first half in an unusually smooth ride
▼ + stars: | 2024-06-29 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

A 15% year-to-date total return in the S & P 500 is the 21 st best run through June since 1900, according to Goldman Sachs. The S & P 500 since the October 2023 correction low is up 33% for an annualized total return pace of 56%. The S & P has gone eight sessions without a move of as much as half a percent. True in magnitude: The market-cap-weighted S & P 500 has outgained its equal-weighted version by more than ten percentage points this year. Not only haven't up days been broadly inclusive, the direction of the S & P 500 has been running inverse to the daily breadth over the past month.

Persons: Goldman Sachs, Sharpe, it's, we'd, I've, What's, Jeff deGraaf, Trump, We've, Poor's, what's Organizations: Nvidia, Walgreens, Nike, Apple, Technology, Communication Services Locations: hiccups

☆ Sha’Carri Richardson makes statement with blistering 200m at US Olympic trials
▼ + stars: | 2024-06-28 | by ( George Ramsay | ) edition.cnn.com time to read: +2 min

CNN —Sha’Carri Richardson became the second-fastest women’s 200-meter runner in the world this year as she cruised to victory in her heat at the US Olympic Trials. Long ran the fifth-fastest time in Thursday’s heats, behind Gabby Thomas – the 200m bronze medalist at the Tokyo Olympics – NCAA record holder Abby Steiner, and 2019 world championship silver medalist Brittany Brown. “Any time I touch the track, there’s an opportunity for me to work on being my best self,” Richardson told NBC after her heat. The 24-year-old ran the fastest 100m time in the world this year with her victory at the trials on Saturday, finishing in 10.71 seconds. In the men’s event, Tokyo silver medalist Rai Benjamin comfortably won his heat, while Caleb Dean set the fastest time of the day with 49.45.

Persons: CNN — Sha’Carri Richardson, compatriot Mckenzie Long, Long, Gabby Thomas –, Abby Steiner, Brittany Brown, ” Richardson, “ I’m, Richardson, Noah Lyles, Lyles, Sydney McLaughlin, Levrone, Anna Cockrell, Rai Benjamin, Caleb Dean Organizations: CNN, US, Paris Olympics, NCAA, Tokyo Olympics, Eugene’s Hayward, NBC, Tokyo Locations: Tokyo, Erriyon

☆ These are Jefferies best stock ideas heading into the second half
▼ + stars: | 2024-06-28 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Jefferies highlighted its best global stock picks as the second half of the year approaches, representing the firm's highest-conviction stocks with a buy rating. With its price target at 1,260 euros, he sees about 22.6% upside from Thursday's close. BofA also raised its price target by $193, or 146 euros, and maintained its buy rating on the stock. Petersen anticipates stock upside due to a stronger growth rate of data center chip sales. On Wednesday, the firm upgraded the stock to outperform from market perform and raised its price target by $26 to $170.

Persons: Jefferies, Janardan Menon, Menon, BofA, Lloyd Byrne, Jonathan Petersen, Petersen Organizations: Bank of America, Union semicaps, ConocoPhillips, Marathon, Digital Realty, BMO Capital Markets, Microsoft, Nintendo Locations: United States, Latin America, Europe, Middle East, Africa, Asia

☆ SoftBank shares rise on $1.86 billion debt offering as CEO talks up 'super' AI
▼ + stars: | 2024-06-28 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Masayoshi Son, chairman and chief executive officer of SoftBank Group Corp., speaks during the company's annual general meeting in Tokyo, Japan, on Friday, June 20, 2024. SoftBank on Friday announced plans to issue euro and dollar-denominated bonds as it looks to pay down debt and focus its investments on artificial intelligence. The huge Japanese holding company said it will issue around $900 million in U.S. dollar-denominated bonds in two tranches, and 900 million euros ($962.8 million) worth of bonds, also in two tranches. SoftBank said the money raised will be used for "repayment of indebtedness and for general corporate purposes." Its shares closed up 2.5% after news of the bond issuance.

Persons: Son, SoftBank Organizations: SoftBank Group Corp, . Locations: Tokyo, Japan

☆ Delhi, India airport: Terminal 1 roof collapse kills one, injures others
▼ + stars: | 2024-06-28 | by ( Rhea Mogul | Aishwarya S. Iyer | ) edition.cnn.com time to read: +2 min

Delhi Fire Services assistant divisional officer Ravinder Singh said rescuers got to the scene to find two support pillars had collapsed over a car. Photos of the scene released by the fire service showed the large white canopy of the roof had plunged to the ground, crushing several cars. India’s minister of Civil Aviation, Ram Mohan Naidu Kinjarapu, said he was “personally monitoring” the collapse in a statement on X. Parts of the capital territory of Delhi experienced heavy rainfall this week, flooding roads and submerging cars. Earlier this month, at least nine people were killed and dozens of others injured after a cargo train collided with a passenger train in eastern India.

Persons: Ravinder Singh, ” Singh, “, ”, Ram Mohan Naidu Kinjarapu Organizations: New, New Delhi CNN, Indira Gandhi International, Delhi Fire Services, CNN, Civil Aviation Locations: New Delhi, New Delhi’s, Delhi, India, Morbi, Gujarat

☆ U.S. oil trades near two-month high, heads for third-straight weekly gain on Israel-Hezbollah war fears
▼ + stars: | 2024-06-28 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

U.S. crude oil on Friday traded near a two-month high and is on pace for a third-straight weekly gain as fears of war between Israel and the Iran-backed militia Hezbollah grow. West Texas Intermediate hit an intraday high of $82.72 per barrel, the highest level for the U.S. benchmark since April 30. U.S. oil is up about 1.8% for the week and 6.7% for the month of June. Hezbollah could target Israel's offshore gas operations if war breaks out, and Israel could seek to hit Iranian oil facilities, according to RBC Capital Markets. There is also a risk that Iran could attack tankers in the straight of Hormuz or abandon a détente with Saudi Arabia and hit the kingdom's oil facilities, according to the firm.

Persons: Brent, stoking, Saudi détente, Helima Organizations: Hezbollah, Texas Intermediate, RBC Capital Markets, Pentagon, NBC News, The State Department, U.S, RBC Locations: Khiam, Lebanon, Israel, Gaza, Iran, U.S, Hormuz, Saudi Arabia, Saudi

☆ I'm delighted by this car dealership's parody of 'The Office'
▼ + stars: | 2024-06-27 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +3 min

The workplace drama I'm now highly invested in is from the Mohawk Chevrolet dealership in Ballston Spa, New York. The three-person marketing team in charge of posting on social media would sometimes try to jump on a TikTok trend or some other kind of lighthearted fare. So far, nothing out of the ordinary for a car dealership, this one founded in 1919 with the slogan "We go out of our way to please you." But then, somehow, they made a masterpiece — a mockumentary about the dealership in the style of "The Office." But is a viral video from a local car dealership actually good for sales?

Persons: —, I'm, Nathanael Greklek, Ben Bushen, Grace Kerber, Bushen, Guy Fieri, Kerber, They've Organizations: Service, Mohawk Chevrolet, Business, Chevy, Chevrolet, Honda, BMW Locations: Ballston Spa , New York, Saratoga

☆ New York City Has 186,000 Fewer Children and Teens Than It Did in 2020
▼ + stars: | 2024-06-27 | by ( Winnie Hu | Troy Closson | ) www.nytimes.com time to read: +1 min

New York City has significantly fewer children and teenagers than it did before the coronavirus pandemic spurred an exodus of families to the suburbs and other states, according to an analysis of new census data released Thursday. The number of New Yorkers under the age of 20 fell by 9 percent — or more than 186,000 people — to 1.8 million in 2023 from just three years earlier, according to Social Explorer, a data research company that analyzed the census estimates. It was the biggest drop in at least a decade in the city’s under-20 population. The decrease could potentially affect the city’s education policies and public school system, which is the largest in the United States, and could eventually help shape the city’s work force and economy. That age group has been steadily shrinking in the city since at least 2010 even as older age groups have been growing.

Locations: York City, Yorkers, United States

"The stock price has lagged but we don't see any other catalysts medium term, hence we are moving to the sidelines." Micron shares were down 5% in the premarket. The analyst reiterated a buy rating on Micron stock with a $175 per share price target, implying nearly 23% upside from Wednesday's $142.36 close. He raised his price target to $158 per share price from $138, calling for 11% upside. Arya maintained a buy rating on Micron stock with a $170 per share price target, or about 19% upside moving forward.

Persons: Vivek Juneja, — Brian Evans, TD Cowen, Cowen, John Blackledge, Keefe, David Konrad, Brian Evans, Christopher Danely, Goldman Sachs, Toshiya Hari, Hari, Vivek Arya, Arya, Caio Ribeiro, Ribeiro, Fred Imbert Organizations: CNBC, Micron Technology, Bank of America, Petrobras, JPMorgan downgrades U.S, Bancorp, JPMorgan, U.S . Bancorp, New York Mellon, Bank of New, Bank of New York Mellon, BK, Mellon, Micron, MU, Citi Locations: Brazil, U.S, Bank of New York, CY2025

☆ Nike warns of guidance cut as it posts slowest annual sales gain in 14 years
▼ + stars: | 2024-06-27 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Nike on Thursday reported its slowest annual sales growth in 14 years, excluding the Covid-19 pandemic, as the sneaker giant warned of "challenges" that led it to cut its current year outlook. For the fiscal fourth quarter, the company handily beat earnings estimates as its cost-cutting efforts continue to bear fruit, but Nike fell short on revenue estimates. In fiscal 2024, Nike posted sales of $51.36 billion, which is flat compared to the prior year. In Europe, Middle East and Africa, Nike posted revenue of $3.29 billion, compared to estimates of $3.32 billion. In Asia Pacific and Latin America, Nike saw $1.71 billion in sales, compared to estimates of $1.77 billion.

Persons: Matthew Friend Organizations: Nike, NIKE, LSEG, Asia Locations: Nice, France, China, North America, Europe, Middle East, Africa, America

☆ Inside Rudy Giuliani's bankruptcy spending: $100 on pizza, $4 polyester ties, and 'deep bronze' tanning lotion
▼ + stars: | 2024-06-27 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +11 min

They also include quite a few Amazon purchases, including cheap ties and "deep bronze" tanning lotion. For the first time, Giuliani disclosed the financial details of Giuliani Communications, the company he owns that produces his video livestreams on social media. On a monthly basis, Giuliani Communications spends more money than it makes — even before the WABC cancellation. Earlier filings were compiled by Joseph Ricci, an accountant whose firm was paid $4,000 by Giuliani Communications in May. Ricci has since declined to work on the banruptcy, Giuliani's lawyers have said.

Persons: —, Rudy Giuliani, Giuliani, Maria Ryan, it's, Donald Trump, Tanner, Bice, Giuliani —, Wandrea Moss, Ruby Freeman, Jose Luis Magana It's, Giuliani's, Mike Lindell, John Catsimatidis, Ryan Organizations: Service, New, New York City, Business, Giuliani Communications, New York, eBay, Verizon, Citi, AP, Giuliani's, WABC, Republican Locations: New York, Arizona, New York City, Amazon, Manhattan, Palm Beach, Washington , DC, MyPillow, American

☆ Americans are finding it harder to get a new job
▼ + stars: | 2024-06-27 | by ( Alicia Wallace | ) edition.cnn.com time to read: +3 min

CNN —Americans are staying unemployed for longer, the latest Labor Department data shows, in a reflection of a slowing economy. The number of Americans receiving jobless benefits for multiple weeks climbed to its highest level since November 2021, according to a Department of Labor report released Thursday. While the number of initial claims remains near pre-pandemic levels (but well below historical averages), they’ve moved higher in recent weeks. Weekly jobless claims data, which is looked at as a proxy for layoff activity, can be highly volatile and is frequently revised. Still, the trend as of late has been an upward one, economist Ian Shepherdson wrote in a note to clients Thursday.

Persons: they’ve, Ian Shepherdson, Shepherdson, ”, “ Organizations: CNN, Labor Department, Department, Labor, Pantheon, Federal, Consumer

☆ The world’s biggest capital cities are heating up – and Asia tops the charts
▼ + stars: | 2024-06-27 | by ( Lex Harvey | ) edition.cnn.com time to read: +6 min

Beijing Meteorological Observatory issued the first yellow alert for high temperatures in 2024, with the highest temperature in the city reaching 35 degrees Celsius. New Delhi topped the list of hottest cities, recording 4,222 days above 35 degrees Celsius in the past three decades – more than any other city analyzed. In 2018, Seoul saw 21 days over 35 degrees Celsius — more than the previous 10 years combined. Beijing’s number of days over 35 degrees has increased by 309% since 1994. In October 2023, Jakarta experienced 30 consecutive days over 35 degrees Celsius — more days than during the entire period between 1994 and 2003.

Persons: –, ”, Tucker Landesman, there’s, “ We’ve, Kalyani Saha, “, Anthony Wallace, CNN he’d, Sagar, Young, Parveen Kumar Organizations: Hong Kong CNN, International Institute for Environment, Development, Egypt’s, “, Palace Museum, Beijing Meteorological Observatory, CNN, Getty, NGO Centre, Health Development India, Hindustan Times, Dartmouth Locations: Hong Kong, Asia, Buenos Aires, Argentina, Paris, Egypt’s Cairo, Beijing, China, Southeast Asia, India, New Delhi, Delhi, Lajpat Nagar, South East Delhi, Seoul, AFP, Jakarta, South Korea, rehydrate, Gurugram

In a more defensive environment, we instead gravitate to lower volatility, higher dividend-paying stocks. By October, AT & T had pounded out a series of higher lows, confirming a rotation to a bullish trend. As a long-term trend gauge, I would assume that any price action above this trendline is still within the context of a bullish phase. I've also drawn a short-term trendline in pink, lining up the price lows in April, May, and June. Since an uptrend is formed by a pattern of higher highs and higher lows, then a consistent short-term uptrend would most likely remain above this trendline.

Persons: we've, I've, I'm, David Keller Organizations: CMT, CNBC, NBC UNIVERSAL, & $

Bitcoin mining companies have expansive data centers, with access to fiber lines and large amounts of power across the U.S. They're exactly the types of facilities needed for compute-intensive AI operations, which means their sites and technology are in high demand. Core Scientific will deliver 70 megawatts of computing infrastructure to support CoreWeave's operations. Earlier this month, CoreWeave offered to buy Core Scientific for $1.02 billion, not long after their initial agreement. Core Scientific rejected the bid.

Persons: JPMorgan Chase, CoreWeave, Adam Sullivan Organizations: JPMorgan, Core, Nvidia

☆ Retail traders came out in force to buy the recent dip in AI darling Nvidia
▼ + stars: | 2024-06-27 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Retailer traders took Nvidia' s recent sell-off as a buying opportunity, snapping up shares of the dominant artificial intelligence chipmaker amid the volatility. The cohort bought $1.8 billion worth of Nvidia shares over the past week as the Jensen Huang-led company suffered a quick pullback, according to JPMorgan data. JPMorgan estimated that retail investors are up 179% trading Nvidia this year, topping the stock's year-to-date performance. Meanwhile, other megacap tech stocks fared poorly among individual investors last week, JPMorgan said. Advanced Micro Devices saw net sales of $163 million, Microsoft had a net drawdown of $158 million and Tesla $122 million.

Persons: Jensen Huang, Nvidia's Organizations: Nvidia, JPMorgan, Microsoft, Google, Oracle, Meta Locations: U.S

☆ Microsoft's new AI CEO Mustafa Suleyman works closely with these execs, internal tracking tool reveals
▼ + stars: | 2024-06-26 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +4 min

Read previewAn internal Microsoft tracking tool has revealed which executives AI CEO Mustafa Suleyman is working with most during his first few months on the job. Microsoft in March hired Suleyman , the head of startup Inflection AI and a cofounder of AI pioneer DeepMind, to be CEO of a newly formed Microsoft AI group. The organization is responsible for consumer AI products such as Microsoft's Copilot AI chatbot and the Bing search engine. Kevin Scott, Microsoft chief technology officerKevin Scott MicrosoftKevin Scott is Microsoft's chief technology officer and executive vice president of AI. Caitlin McCabe, CEO chief of staffMcCabe is Satya Nadella's chief of staff.

Persons: —, Mustafa Suleyman, Suleyman, Karén Simonyan, Yusuf Mehdi, Microsoft Nick Adams, Reuters Mehdi, Kevin Scott, Kevin Scott Microsoft Kevin Scott, He's, Scott, Kevin, Satya Nadella, Amy Hood, Phillip Faraone, Hood, Rajesh Jha, Jha wasn't, Jha, Caitlin McCabe, McCabe, Satya Nadella's, She's, Nadella, Jon Tinter, Chris Young, Tinter Organizations: Service, Microsoft, Business, Reuters, OpenAI

☆ Here's where BlackRock sees opportunity in municipal bonds
▼ + stars: | 2024-06-26 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Municipal bonds are a great way for investors to grab some tax-advantaged income, they'll just have to be nimble, according to BlackRock. "Municipal bonds offer investors high after-tax income with less volatility compared to other fixed income assets and remain a good diversifier to equity and equity-like risk," Carney said. Where BlackRock sees opportunity Within muni bonds, BlackRock specifically likes focusing on states that primarily rely on consumption taxes. Those states that focused on personal income taxes, like California and New York, experienced much greater declines, he said. Lastly, essential revenue bonds tend to be more durable since they are drawing on revenue.

Persons: they'll, Sean Carney, Carney, BlackRock, munis Organizations: muni, BlackRock, Bond, Reserve, AA Locations: BlackRock, Florida , Nevada , Tennessee, Washington, California, New York

☆ A San Francisco home worth $1.8 million was just listed for $488,000—but the new owners can't move in until 2053
▼ + stars: | 2024-06-25 | by ( Celia Fernandez | ) www.cnbc.com time to read: +3 min

The three-bedroom property, built in 1924, listed earlier this month is worth $1.8 million but is currently priced at $488,000, according to The San Francisco Standard. The property will be sold as is, meaning the new owners will become the current tenants' new landlords. The San Francisco metro area is one of the most expensive place to live. To afford life in a big city like San Francisco, you'd have to make double what most Americans earn, according to a May Moody's Analytics analysis. The unusual sale is partly due to a family feud, according to The San Francisco Standard.

Persons: you'd, Sandra Lee, Cheryl Lee, Todd Lee, Sandra, didn't, Lee Organizations: San Francisco, San Francisco Standard, North, CNBC Locations: San Francisco's, San Francisco, Russia Hill

☆ For many Muslim pilgrims, a dangerous unauthorized Hajj is the only option
▼ + stars: | 2024-06-25 | by ( Magdy Samaan | Clamping Down On Unauthorized Pilgrimage | ) edition.cnn.com time to read: +11 min

He was among the more than 1,300 pilgrims who died during this year’s Hajj as temperatures in Saudi Arabia reached record levels. The tragedy, resulting in one of the highest Hajj death tolls in years, has brought attention to the shadowy industry of unauthorized pilgrimage agents. It is unclear how many unauthorized pilgrims made it to this year’s Hajj, but Saudi news outlet Al Sharq Al Awsat reported Tuesday that 141,000 such pilgrims received free medical treatment during the Hajj season. Clamping down on unauthorized pilgrimageBefore this year’s Hajj season started, Saudi authorities warned pilgrims against using agents selling unauthorized Hajj packages and had been in contact with other governments in an effort to crack down on the trend. Authorities had also arrested some illegal agents and issued warnings about penalties for those found to assist unauthorized pilgrims.

Persons: Cairo CNN —, Mahmoud, Salem, “, Abdelzaher Abdo Salem, Om Waleed, Abdelzaher, Mount Arafat, Salem’s, ” Mahmoud, –, Atef, ”, ” Aglan, Aglan, Al Sharq Al Awsat, Hania Hassan Salama, Salama, Mustafa Mohammed, Ahmad, General Muhammad bin Abdullah Al, Rafiq Maqbool Organizations: Cairo CNN, Al, Ma’aisam, Saudi, Egyptian Travel Agents Association, CNN, Hajj, Authorities, Public Security, Hajj Security Locations: Cairo, Abdo Salem, Mecca, Egypt, Saudi Arabia, Salem, Abdelzaher, Mount, Mina, “, AFP, Saudi, Medina , Saudi Arabia

☆ Novo Nordisk's Wegovy weight loss drug approved in China
▼ + stars: | 2024-06-25 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Novo Nordisk said Tuesday that its Wegovy weight loss treatment has been approved in China for long-term weight management, opening up the blockbuster drug for sale in the world's second largest economy. China's National Medical Products Administration "recently" approved the weekly injectable drug, Novo Nordisk said in a press release on the Chinese version of its website, according to Google translate. Novo Nordisk did not immediately respond to CNBC's request for further information on the proposed pricing and rollout timeline of the drugs. The company's Ozempic diabetes drug was approved in 2021 and saw sales in the greater China region double last year. On Monday, Novo Nordisk announced it is investing $4.1 billion to expand its manufacturing in the U.S.

Persons: —, Eli Lilly Organizations: Novo Nordisk, Medical Products Administration, Google, Reuters, National Health Commission, U.S Locations: China, Danish, London, Clayton , North Carolina

A DoorDash delivery person is pictured on the day they hold their IPO in the Manhattan borough of New York City, New York, U.S., December 9, 2020. Doordash shares fell 2% to $111.68 after the report, before recovering some of that loss. However this year, those shares were automatically converted into class A shares, Deliveroo's IPO prospectus shows. Online food delivery companies have looked to pivot away from unprofitable markets. New Tab , opens new tabSave Share XFacebookLinkedinEmailLink Purchase Licensing Rights

Persons: Carlo Allegri, Doordash, Deliveroo's, Will Shu, Shu, Deliveroo, Greg Orlowski, Tony Xu, U.S . Doordash, Uber, Amy, Jo Crowley, Abigail Summerville, Anousha Sakoui, Alexander Smith, Nick Zieminski Organizations: REUTERS, Companies, Deliveroo, Chevron, DST Global, Sunday Times, Financial Times, U.S ., Wolt, United Arab, Thomson Locations: Manhattan, New York City , New York, U.S, Chevron San Francisco, London, Taiwan, Deliveroo, France, United Arab Emirates, Hong Kong

☆ FedEx shares jump after hours as massive cost-cutting measures kick in
▼ + stars: | 2024-06-25 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +4 min

FedEx shares soared more than 15% after hours Tuesday after the company reported results that topped analysts' estimates in both earnings and revenue. FedEx further expects the demand environment to moderately improve through the next fiscal year, according to Carere. Investor's eyes are also on the company's largest segment Express, which has been struggling with margin growth the past year. Subramaniam said improving performance of the Express segment is a "top priority" for the company. USPS was the largest customer for the company's Express segment.

Persons: Brie Carere, Carere, Raj Subramaniam, Subramaniam, John Dietrich Organizations: FedEx, LSEG, Services, Federal Express Corporation, U.S . Postal Service, United Parcel Service, UPS, USPS Locations: United States

☆ A bearish options trade that wins if Nvidia and the QQQs continue to cool off
▼ + stars: | 2024-06-25 | by ( Nishant Pant | ) www.cnbc.com time to read: +3 min

Nvidia (NVDA) is finally showing signs of profit-taking, suggesting that the entire technology sector might be ready for a breather. This could present many bearish trading setups in various stocks because of the influence Nvidia has had leading the AI bubble. For now, let's focus on making a bearish trade in the Invesco QQQ Trust , an ETF that tracks the Nasdaq 100 index. The Trade The trade structure I have chosen here is called a Bear Call Spread also known as a Call Credit Spread. As long as QQQ stays below $483 in the next 17 days, this trade will return a 38% ROI on the money risked.

Persons: Nishant Pant Organizations: Nvidia, Trust, CNBC, NBC UNIVERSAL

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