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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe 'Magnificent 7' should have another good earnings season, says Alger's Ankur CrawfordAnkur Crawford, Alger EVP, joins 'Closing Bell' to discuss Nvidia and if she expects the stock to have more upside from here.
Persons: Alger's Ankur Crawford Ankur Crawford Organizations: Nvidia Locations: Alger
Read previewWells Fargo may have underestimated just how savvy young professionals could be with a credit card that rewards renters. A Bilt spokesperson told Business Insider that Wells Fargo does not make the numbers publicly available. In an email, a Wells Fargo spokesperson told Business Insider that co-branded credit cards are "one modest piece of the company's overall credit card business strategy, and the BILT credit card is one component of that." The Wells Fargo spokesperson said that "there has been no conversation among decision-makers to exit the BILT agreement. A Bilt spokesperson said the Journal's story is an "inaccurate representation of our strategic partnership with Wells Fargo."
Persons: , Wells, Bilt, Dave Canty, Bilt's, Ankur Jain, Kevin, Amanda Smidt, they've, I've, Amanda, anesthetist, I'm, Wells Fargo, Amanda chimed, Jain Organizations: Service, Bilt Technologies, Business, Alaska Airlines, Virgin Atlantic, Hyatt, Wall Street, Financial Technology Partners, Miami, The Locations: Wells Fargo, San Francisco, Alaska, Wells, Miami, New York
Diamond prices have fallen 5.7% so far this year, according to Zimnisky's rough diamond index, declining more than 30% from their all-time high in 2022. Lab-grown diamonds, which can be up to 85% cheaper than natural diamonds, are made in a controlled environment using extreme pressure and heat. Lab-grown diamond sales have surged from just 2% of the global diamond jewelry market in 2017 to 18.4% in 2023, according to data provided by Zimnisky. An industry 'in trouble'"The diamond industry is in trouble," Daga told CNBC, adding that he believes natural diamond prices could fall another 15%-20% over the next 12 months. Similar to a natural diamond, a lab-grown diamond is graded based on the 4Cs — clarity, color, cut and carat weight.
Persons: Leon Neal, Duncan Wanblad, De, Paul Zimnisky, De Beers, Marcelo Esquivel, Ankur Daga, Daga, Anish Aggarwal, Lionel Bonaventure Organizations: Afp, Getty, De, BHP, Financial Times, De Beers, CNBC, Daxue Consulting, Bloomberg, Zimnisky Locations: Harrods, London, De Beers, American, China, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe pace at which Nvidia is innovating is 'unprecedented,' says Alger's Ankur CrawfordAnkur Crawford, executive vice president and portfolio manager at Alger, joins 'Squawk on the Street' to discuss what investors should do with Nvidia's stock after this week, how to determine where we are in AI's investment cycle, and more.
Persons: Alger's Ankur Crawford Ankur Crawford Organizations: Nvidia, Alger
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBad news is good news for the market again, says Alger's Ankur CrawfordAnkur Crawford, Alger, joins 'Closing Bell' to discuss Google's stock as the company launches new AI tech at its I/O event.
Persons: Alger's Ankur Crawford Ankur Crawford, Alger
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBig tech earnings will be bifurcated, says Alger's Ankur CrawfordAnkur Crawford, executive vice president and portfolio manager at Alger, joins CNBC's 'Closing Bell' to discuss big tech earnings, Fed rate cuts, and more.
Persons: Alger's Ankur Crawford Ankur Crawford Organizations: Alger
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple, Google and Tesla are now becoming un-magnificent, says says Alger's CrawfordAnkur Crawford, Alger EVP and portfolio manager, joins 'Closing Bell' to discuss the bifurcation in the mega cap stocks, Crawford's thoughts on Apple, and why Apple's stock isn't given the benefit of the doubt with AI.
Persons: Alger's Crawford Ankur Crawford Organizations: Apple, Google Locations: Alger
Still very early on in the AI megacycle, says Alger's Crawford
  + stars: | 2024-02-15 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStill very early on in the AI megacycle, says Alger's CrawfordAnkur Crawford, portfolio manager at Alger, joins 'Squawk on the Street' to discuss where we are in the AI megacycle regarding stock performance, at what point Nvidia's earnings results normalize, and more.
Persons: Alger's Crawford Ankur Crawford Organizations: Alger
"We're seeing a shift in much larger center stone engagement rings, primarily as a result of lab-grown diamonds, and sapphires and rubies tend to be very hot," Daga said. A decade ago, about 5% of engagement rings were colored gemstones, according to Daga. watch nowIndustry giant Signet Jewelers is seeing the same gemstone trend in the wedding category as well as in fashion pieces. Beyond engagement rings, Signet said amethyst and ruby are always popular stones for the Valentine's season. Solidcolours | Istock | Getty ImagesWholesale prices for sapphire gemstones are up 12% per year over the past three years, Daga said.
Persons: Craig Hastings, Ankur Daga, Daga, Jared, Kay, Signet, Beth Gerstein, Gerstein, Boonyakiat, Tourmalines Organizations: Industry, Signet, Getty, Istock, Rolex Locations: London, Madagascar, Angara, Kashmir, Sri Lanka, Zambia, Colombian
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Alger's Ankur Crawford and JPMorgan's Meera PanditAnkur Crawford, Alger EVP and Meera Pandit, JPMorgan Asset Management, join 'Closing Bell' to discuss markets, Microsoft ahead of its earnings and their tech playbooks.
Persons: Alger's Ankur Crawford, JPMorgan's Meera Pandit Ankur Crawford, Meera Pandit Organizations: JPMorgan Asset Management, Microsoft Locations: Alger
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBilt Rewards is the first neighborhood loyalty platform, says General Catalyst chairman Ken ChenaultAnkur Jain, Bilt Rewards founder and CEO, and Ken Chenault, General Catalyst chairman and managing director and Bilt Rewards board chairman, join 'Squawk Box' to discuss the company's rewards program, how Bilt partners with real estate owners and allows its users to earn points when paying their rent, and more.
Persons: Ken Chenault Ankur, Bilt, Ken Chenault Organizations: Catalyst
Morning Bid: Markets wary Powell may undermine rate-cut bets
  + stars: | 2023-12-01 | by ( ) www.reuters.com   time to read: +3 min
Federal Reserve Chair Jerome Powell answers a question during a press conference at the Federal Reserve in Washington, U.S., November 1, 2023. The disconnect between financial markets and central banks has only deepened as central banks push back against talk of rate cuts while markets take in the relatively more benign inflation data of recent weeks. That helped to embolden markets to take on rate-cut bets. Markets are now pricing in a 46% chance of the central bank cutting rates in March, the CME FedWatch tool showed. Speakers: Bank of England MPC member Megan Greene, ECB President Christine Lagarde, Fed Chair Jerome Powell.
Persons: Jerome Powell, Kevin Lamarque, Ankur Banerjee, Christopher Waller, Powell, Elon Musk, Megan Greene, Christine Lagarde, Edmund Klamann Organizations: Federal Reserve, REUTERS, Ankur, Fed, ECB, Reuters Graphics Reuters, Reuters, Bank of England, Thomson Locations: Washington , U.S, Europe, Asia, France, UK, Germany, Singapore
A New Zealand dollar coin sits atop a United States one dollar bill in this photo illustration taken on March 11, 2016. Consumer price growth in the 20 nations that share the euro currency dropped to 2.4% in November from 2.9% in October, well below expectations for a fall to 2.7%. The euro dropped as much as 0.5% against the dollar to $1.0910. The Japanese currency has firmed almost 3% against the dollar in November and is on course for its strongest month this year. Sterling was last at $1.2646, down 0.39% on the day, while the Australian dollar fell 0.1% to $0.6610.
Persons: David Gray, Matthew Landon, disinflation, Landon, ECB policymaker Fabio Panetta, Mohamad Al, Jerome Powell, Christopher Waller, Christopher Wong, Toyoaki Nakamura, Sterling, It's, Samuel Indyk, Ankur Banerjee, Vidya Ranganathan, Kim Coghill, Miral Fahmy, Susan Fenton Organizations: New Zealand, REUTERS, European Central Bank, Morgan Private Bank, ECB, ECB policymaker, Danske Bank, Bank of Japan, Thomson Locations: States, Europe, U.S, London, Singapore
Loan growth at Asian banks is estimated to rise from 4.5% this year to 10% next year, LSEG data shows, with banks in India and Indonesia leading with 15% and 11% growth, respectively. Ng likes banks in India and Indonesia, given the better economic growth in those economies and ability of banks to sustain margins. LSEG data shows profits at banks in India and Indonesia will grow 13% and 11% respectively next year, nearly double the 6% average rise across Asia-Pacific banks. That compares to price-to-book ratio for MSCI's index for all-country Asian banks (.dMIAS0CB00PUS) of 0.9. Banks in Australia are estimated to see a drop of 5% in profit in 2024 while profits at Singapore banks will be flat.
Persons: Frederic Neumann, Neumann, Morgan, Yao Ng, abrdn, Ng, Vinay Agarwal, Agarwal, Morgan Stanley, Ankur Banerjee, Gaurav Dogra, Patturaja, Vidya Ranganathan, Simon Cameron, Moore Organizations: U.S . Federal, Fed, HSBC, ICICI, Kotak Mahindra Bank, Axis Bank, FSSA Investment Management, Indonesia's Bank Central Asia, BCA, Reuters, Thomson Locations: SINGAPORE, India, Indonesia, Thailand, Asia, Japan, J.P, Pacific, Singapore, Hong Kong, South Korea, Banks, Australia, China, Bengaluru
"But I think it's not just this week's inflation indicator, it's also the December payroll numbers ... they'll be quite critical." "Our view is that the Fed will probably start cutting rates when inflation goes below the 3% mark. The weaker-than-expected data weighed on Treasury yields, with the yield on benchmark 10-year notes slipping 9.6 basis points on Monday. The dollar index , a measure of the greenback against a basket of currencies, fell to 103.07, its lowest since Aug. 31. Data showed retail sales in Australia unexpectedly slipped in October as consumers cut back on everything but food, though analysts believe many were merely saving some money to splurge on Black Friday sales that took place this month.
Persons: DAX, Vasu Menon, they'll, Menon, Dave Ramsden, Christine Lagarde, Jerome Powell, HSI, Brent, Ankur Banerjee, Sam Holmes, Kim Coghill Organizations: Federal, Investors, OCBC Bank, of England, European Central Bank, Japan's Nikkei, Treasury, New Zealand, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, Singapore, U.S, Hong Kong, Australia
Japan's Nikkei (.N225) eased 0.20% but is up 8% this month, on course for its strongest monthly performance in three years. "The outlook for central bank policy has been a big factor driving the improvement in risk appetite in November," said Rodrigo Catril, senior FX strategist at National Australia Bank. Investors will focus this week on the Fed's preferred measure of inflation on Thursday and euro zone consumer inflation figures for further clarity on the where inflation is headed. The weaker-than-expected data weighed on Treasury yields, with the yield on benchmark 10-year notes slipping 9.6 basis points on Monday. The dollar index , a measure of the greenback against a basket of currencies, fell to 103.11, its lowest since Aug. 31.
Persons: Rodrigo Catril, Catril, Christine Lagarde, Jerome Powell, HSI, Brent, Ankur Banerjee, Sam Holmes Organizations: Federal, Japan's Nikkei, National Australia Bank, European Central Bank, Treasury, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, U.S, OPEC
Morning Bid: China's Shein steals market spotlight
  + stars: | 2023-11-28 | by ( ) www.reuters.com   time to read: +2 min
Whether this potential blockbuster gives a fillip to the lacklustre IPO market remains to be seen, after some high-profile public debuts this year failed to impress. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) is on course for its strongest monthly performance since January with a nearly 7% gain. Japan's Nikkei, Asia's best-performing stock market this year, is set for its strongest monthly result in three years. European stock markets are likely to see a subdued start to Tuesday, futures indicate, with a bare economic calendar leaving investors treading cautiously ahead of major economic data. Key developments that could influence markets on Tuesday:France consumer confidence for November, Euro zone money M3 annual growth for October.
Persons: Shein, Asia's, Ankur Banerjee, Edmund Klamann Organizations: Ankur Banerjee, Traders, Japan's Nikkei, Adobe Digital, Insider Intelligence, Thomson Locations: Ankur, China, Singapore, Asia, Pacific, Japan, U.S, France
Dollar slips on bets US rates have peaked
  + stars: | 2023-11-24 | by ( Saqib Iqbal Ahmed | ) www.reuters.com   time to read: +4 min
A woman counts U.S. dollar bills at her home in Buenos Aires, Argentina August 28, 2018. Currencies traded in a relatively narrow range with U.S. markets closing early the day after the U.S. Thanksgiving holiday. "I think what we're seeing is a classic case of the market taking the 'path of least resistance.'" The dollar index , which measures the U.S. currency with six peers, eased 0.4 % to 103.35 , staying close to the 2-1/2 month low of 103.17 touched earlier this week. German business morale improved for a third straight month in November, data showed.
Persons: Marcos Brindicci, Michael Brown, Jane Foley, Sterling, Saqib Iqbal Ahmed, Ankur Banerjee, Joice Alves, David Evans, Jason Neely, Richard Chang Organizations: REUTERS, U.S, Trader, P Global, Rabobank, Federal, ING, Thomson Locations: Buenos Aires, Argentina, London, Germany, Singapore
Dollar eases on bets US rates have peaked
  + stars: | 2023-11-24 | by ( Saqib Iqbal Ahmed | ) www.reuters.com   time to read: +4 min
A woman counts U.S. dollar bills at her home in Buenos Aires, Argentina August 28, 2018. "I think what we're seeing is a classic case of the market taking the 'path of least resistance'," Brown said. The dollar index , which measures the U.S. currency with six peers, eased 0.3% to 103.43, staying close to the two-and-a-half month low of 103.17 it touched earlier this week. Elsewhere, the Japanese yen was about flat against the dollar at 149.53, after strengthening following data that showed Japan's core consumer price growth picked up slightly in October. Separate data showed German business morale improved for a third straight month in November.
Persons: Marcos Brindicci, Michael Brown, Brown, X's Brown, Sterling, Saqib Iqbal Ahmed, Ankur Banerjee, Joice Alves, David Evans, Jason Neely Organizations: REUTERS, U.S, Trader, P Global, Federal, ING, Thomson Locations: Buenos Aires, Argentina, London, U.S, Germany, Singapore
With U.S. markets closed on Thursday for the Thanksgiving holiday and due for a shorter Black Friday trading session, currencies are trading narrowly as liquidity is expected to remain thin. The bank will "then begin its first rate hike in Q2 2024 if wage growth continues to accelerate next year". The nationwide core consumer price index (CPI), which excludes volatile fresh food costs, rose 2.9% year-on-year in October, government data showed on Friday, against 3.0% expected by economists in a Reuters poll. Separate data showed German business morale improved for a third straight month in November. Sterling rose for a second consecutive day, up 0.2% to $1.2559, after data showed on Thursday that British companies returned to growth in November, fuelling hopes Britain will avoid a recession.
Persons: Marcos Brindicci, Jefferies, Mohit Kumar, Sterling, Ankur Banerjee, Joice Alves, Jan Harvey, David Evans Organizations: REUTERS, Bank of Japan, U.S, Federal, Fed, European Central Bank, Bank of England, ING, Thomson Locations: Buenos Aires, Argentina, SINGAPORE, Germany, Singapore, London
Dollar defensive as markets weigh US rates outlook
  + stars: | 2023-11-24 | by ( Ankur Banerjee | ) www.reuters.com   time to read: +3 min
A woman counts U.S. dollar bills at her home in Buenos Aires, Argentina August 28, 2018. The dollar index , which measures the U.S. currency with six peers, eased 0.029% to 103.73, staying close to the two-and-a-half month low of 103.17 it touched earlier this week. The Australian dollar rose 0.14% to $0.657, while the kiwi rose 0.07% to $0.605. The yield on the 30-year Treasury bond rose 2.8 basis points to 4.576%. Reporting by Ankur Banerjee in Singapore; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.
Persons: Marcos Brindicci, Sterling, Cash Treasuries, Ankur Banerjee, Jacqueline Wong Organizations: REUTERS, Rights, U.S, Federal, Fed, Bank of Japan, ING, Treasury, Thomson Locations: Buenos Aires, Argentina, Rights SINGAPORE, Germany, Asia, Singapore
Morning Bid: Caution prevails as Gaza truce begins
  + stars: | 2023-11-24 | by ( ) www.reuters.com   time to read: +2 min
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 13, 2023. Futures indicated European bourses were set for a muted open and with a bare economic calendar, markets are likely to drift as holiday season kicks off. For British consumers though, Black Friday is likely to be about hunting for refurbished and pre-owned bargains to save cash. Israel and Hamas start a four-day truce on Friday morning with the release of a first group of 13 Israeli women and child hostages expected later in the day. Reuters GraphicsKey developments that could influence markets on Friday:Germany's Q3 GDP data, German lfo business climate data for NovemberReporting By Ankur Banerjee; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.
Persons: Ankur Banerjee, clawing, Jacqueline Wong Organizations: REUTERS, Staff, Ankur, Bank of Japan, Barclays, Reuters, Hamas, World Health Organization, Thomson Locations: Frankfurt, Germany, Israel, Asia, Pacific, Japan, Tokyo
A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in Tokyo, Japan, March 22, 2023. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.97% higher at 510.11 having touched 511.05, the highest since Sept. 18. In rest of Asia, Japan's Nikkei (.N225) edged higher and remained close to the 33-year high it toucehd on Monday. The Japanese yen strengthened 0.22% to 148.03 per dollar, lifting away from the one-year low of 151.92 it touched last week. The Australian dollar , often seen as a barometer of risk appetite, touched a three-month high of $0.65775 earlier in the session.
Persons: Issei Kato, DAX, Wall, Sam Altman, Ben Bennett, Nicholas Chia, murmurs, Hong, HSI, Brent, Ankur Banerjee, Jacqueline Wong, Lincoln Organizations: REUTERS, Rights, . Federal, Nvidia, Microsoft, Stock, Traders, Legal, General Investment Management, Standard Chartered, Japan's Nikkei, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Asia, Pacific, Europe, Thursday's U.S
Morning Bid: Risk rally rages on
  + stars: | 2023-11-21 | by ( ) www.reuters.com   time to read: +3 min
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 20, 2023. The dollar index , which measures the U.S. currency against six of its peers, fell to its lowest since Aug. 31. A Reuters poll showed analysts expect the index to continue its more-than-28% rally this year into 2024 to reach a three-decade high of 35,000 by end-June. With the economic calendar bare in Europe, the rally may fizzle out although futures indicate European stock markets are set for a slightly higher open. The spotlight will shine bright on earnings from artificial intelligence chip leader Nvidia (NVDA.O), with expectation of another blockbuster revenue forecast.
Persons: Ankur Banerjee, OpenAI, Emmett Shear, Sam Altman, Jacqueline Wong Organizations: REUTERS, Staff, Ankur, Federal, Lower Treasury, Japan's Nikkei, Nvidia, Microsoft, Reuters, Palestinian, Thomson Locations: Frankfurt, Germany, Asia, Pacific, Japan, Lower, Europe, Israel, Gaza, Canada
MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.91% higher at 509.82 having touched 510.42, the highest since Sept. 18. The index is up 7% for the month and on course for its biggest monthly gain since January. The index is up roughly 28% this year, making it the best performing stock market in Asia. Lower yields kept the dollar on the back foot, with the dollar index , which measures the U.S. currency against a basket of six major currencies, down 0.058% at 103.37. The Australian dollar , often seen as a barometer of risk appetite, touched a three-month high of $0.65775 earlier in the session.
Persons: Kim Kyung, Hong, HSI, Wall, Sam Altman, Ben Bennett, Rob Carnell, Brent, Ankur Banerjee, Jacqueline Wong Organizations: Nikkei, REUTERS, Rights, . Federal, Japan's Nikkei, Microsoft, Nvidia, Stock, Traders, Legal, General Investment Management, Treasury, OPEC, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Asia, Pacific, Thursday's U.S, Russia, U.S, China
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