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The stock market could jump as much as 10% by the year-end, Citi's stock-trading strategy head said. He said the economy only needs to avoid a recession, which will ultimately depend on the labor market. And that is now a plausible scenario," the firm's head of US equity-trading strategy told Bloomberg TV on Tuesday. If this is achieved, stocks can surge another 5% to 10% by the end of this year, Kaiser said. But though the Fed emphasized that it was not forecasting a looming downturn during its latest policy meeting, it all hinges on incoming labor market data, he noted.
Persons: Stuart Kaiser, , Citi's Stuart Kaiser, Kaiser, Morgan Stanley Organizations: Bloomberg, Service, Federal Reserve
U.S. rate cut, geopolitical woes lift gold to record high
  + stars: | 2024-09-23 | by ( ) www.cnbc.com   time to read: +2 min
Gold prices extended gains to scale a record high on Monday, driven by the momentum generated by the Federal Reserve's interest rate cut and safe-haven demand due to geopolitical risks in the Middle East. Gold prices extended gains to scale a record high on Monday, driven by the momentum generated by the Federal Reserve's interest rate cut and safe-haven demand due to geopolitical risks in the Middle East. Spot gold rose 0.2% to $2,628.28 per ounce, as of 0349 GMT, after hitting a record high of $2,630.93 earlier in the session. The U.S. Fed began its easing cycle with a half-percentage point rate cut on Wednesday, forecasting another half-point cut by year-end and a full point next year. Fed futures traders have priced in 75 basis points in rate cuts by the end of this year, according to CME FedWatch.
Persons: Tim Waterer Organizations: KCM, U.S, Fed, FedWatch Locations: U.S, Israel, Lebanese
It’s been a typical fire season in California so far based on overall statistics. Josh Edelson/AFP/Getty ImagesTo have a fire like the Bridge Fire grow so rapidly without Santa Ana winds is “fairly significant and unusual,” Chavez remarked. In early June, abnormally dry conditions only existed in about 1% of California, according to the US Drought Monitor. Where peak fire danger could still be to comeFall marks a critical inflection point for fire season in California given typical weather conditions. Chavez is “always” concerned about what Santa Ana winds could unleash on the fire season in Southern California.
Persons: It’s, Tim Chavez, Chavez, Josh Edelson, ” Chavez, it’s what’s, Daniel Swain, Swain, ” Swain, Joshua Tree, , David Swanson, Organizations: CNN, CAL FIRE, Getty, Santa Ana, University of California, US Drought Monitor, National Interagency Fire Center Locations: California, Northern California, San Diego, Santa Ana, Tehama County , California, AFP, Santa, Los Angeles, Southern California, Southern, Running Springs , California
(This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for Pro subscribers. Worldwide Exchange airs at 5 a.m. Worldwide Exchange Word of the Day: "Dissent" Jay Woods of Freedom Capital Markets said he's paying close attention to Fed Governor Michelle Bowman becoming the first dissenting Fed Governor since 2005. "I think this is the return of the cyclical trade," said Shah on Worldwide Exchange. Worldwide Exchange Pick: FedEx and Transports FedEx reports after the bell Thursday.
Persons: Jay Woods, Michelle Bowman, Seema Shah, Woods Organizations: Pro, Worldwide, Federal Reserve, Freedom Capital Markets, Management, FedEx, Transports FedEx, Dow
"We estimate that Brent could fall to roughly $50 per barrel in a moderate [U.S.] recession … We have a fairly benign view on the global economy," Struyven said during the conference. en Luckock global head of oil at Trafigura"Things are slowing down. Trading Giant Trafigura raised concerns about China's weak demand, and the global oil consumption tied to it. China's slowdown has spurred some to scour for alternative oil demand drivers, with a few eyeing India as a potential candidate. India is the third largest consumer of oil at around 5 million barrels of oil per day, 5% of the world's oil consumption.
Persons: Andrey Rudakov, Goldman Sachs, Brent, Struyven, Torbjörn Törnqvist, Ben Luckock, we're, Bing Chen, Gunvor Organizations: Tuapsinsky, Rosneft Oil, Bloomberg, Getty, Global Commodities, Daan, CNBC, Global, Brent, U.S, West Texas Locations: Tuapse, Russia, China, U.S, Ukraine, India, Japan, Germany, Hong
WASHINGTON — Congress is considering boosting funding for the Secret Service after what the FBI called an apparent second attempt on former President Donald Trump’s life in 10 weeks. "Nobody's going to want to deny the Secret Service the funding that it needs as long as it justifies it." And Sen. Tim Kaine of Virginia, the 2016 Democratic vice presidential nominee, agreed that both parties would be "very amenable" to any Secret Service funding request. Trump's Secret Service detail on Sunday thwarted what the FBI characterized as a second apparent assassination attempt on him while he was golfing at his club in West Palm Beach, Florida. “One thing I want to make clear, the Secret Service needs more help.
Persons: Donald Trump’s, they’re, protectees, Chuck Schumer, ” Sen, Susan Collins, Ron Rowe, Trump, Collins, Sen, Tommy Tuberville, Mike Johnson, Johnson, Ron Johnson, “ That’s, , Jack Reed, Tim Kaine, Ryan Wesley Routh, Routh, Joe Biden, God ”, Biden, Lindsey Graham, Graham, Richard Blumenthal, Conn, he’s, “ We’re Organizations: WASHINGTON, Service, FBI, Republican, Committee, Fox News, Trump, Homeland Security Committee, Secret, Homeland Security, Senate Armed Services, NBC News, Democratic, AK Locations: WASHINGTON —, Maine, Virginia, West Palm Beach , Florida
CNN —Israel has added another objective to its ongoing conflict with Hamas and Hezbollah: ensuring the safe return of residents from communities along its border with Lebanon to their homes. He added that Israel will “do what is necessary” to safeguard the region’s security and return the residents to their homes. Hezbollah has said that it will end its attacks on Israel when Israel ends its war in Gaza. Gallant’s fateThe addition to Israel’s war aims comes amid reports in Israel that Netanyahu plans to replace Gallant with a former rival politician, Gideon Sa’ar. Unlike Gallant, who served for decades in the Israel Defense Forces, Sa’ar is a near lifelong politician.
Persons: CNN —, Benjamin Netanyahu’s, Netanyahu, Amos Hochstein, Yoav Gallant, Hochstein, ” Hochstein, Axios, Israel, Gallant, Gideon Sa’ar, Benny Gantz, Organizations: CNN, Hamas, Hezbollah, Lebanese Ministry of Public Health, Israel Defense Forces Locations: CNN — Israel, Lebanon, Israel, Israel’s, Tel Aviv, , Gaza, Sa’ar’s
Which is not true.”Las Vegas-based real estate agent Zoila Sanchez photographed outside of her home in Henderson, Nevada. Sanchez is confident, insisting the energy she sees for Harris outweighs the increased Trump talk among fellow Hispanics. “I feel the Democrats take the Hispanic vote for granted here in Vegas or in Nevada,” Cerros said. “She came up with immigrant parents, which to me, it’s amazing for someone like that to come up and be able to be president,” Munoz said. Nevada also elected a Republican governor in 2022, and Munoz believes that makes it more hospitable climate for Trump this year.
Persons: Zoila Sanchez, ” Sanchez, Kamala Harris, , , Donald Trump, “ I’ve, Jacqueline Kalil, CNN Trump, Sanchez, , Joe Biden, Harris, Rogelio Regalado, Rafael Cerros Jr, Cerros, ” Cerros, CNN “, , Regalado, ” Regalado, “ It’s, Hajji, ” Hajji, Henderson, Zena Hajji, who’s, Biden, haven’t, Antonio Munoz, Penny, Trump, Munoz, ” Munoz, ” Antonio Munoz, ” Harris Organizations: Nevada CNN, Las, Reagan Republican, CNN, Trump, , Taco Bar, Biden, Republican Locations: Henderson, Nevada, Las Vegas, Henderson , Nevada, , Spanish, Vegas, Israel, El Mercado, America
As global growth continues to slow, investors should get overweight on defensive names, according to UBS. August marked yet another month of declining global growth, as the Global Manufacturing Purchasing Managers' Index (PMI) reported 49.5 for the month , down from 49.7 in July, according to S & P Global Market Intelligence. Wall Street has taken a bullish stance, as 12 of the 18 analysts covering the stock have issued strong buy or buy ratings, according to LSEG. Constellation Energy has also been on a monster run this year, with shares surging 70%. About 82% of the analysts covering the stock rate it a buy or strong buy, according to LSEG.
Persons: Dow Jones, Eli Lilly, it's Organizations: UBS, Global Manufacturing, P Global Market Intelligence, Institute for Supply Management, Federal Reserve, Constellation Energy, Constellation Locations: Ireland
With Trader Joe's less than a mile from my doorstep, grabbing groceries with my 1-year-old daughter in tow was, frankly, relaxing. AdvertisementThis is why I — a loyal shopper — started cheating on Trader Joe's with Aldi. Three weeks ago, I grabbed my Trader Joe's totes and headed to Aldi to pick up olive oil, lemons, and coffee. Related storiesAlthough the products weren't displayed with quirky signage like at Trader Joe's, the bare-bones set-up still had a huge variety of produce. After eyeing my receipt, I was an immediate Aldi convertI was loyal to Trader Joe's for over a decade, but after one shopping trip, I'm an Aldi convert.
Persons: , Aldi —, Katrina Kernodle Walsh, Aldi, Joe's, I've Organizations: Service, Business, Aldi Locations: Washington, Richmond , Virginia
Higher valuations, a mixed macro outlook, and policy uncertainty raise the risk of further declines for stocks. Yet, odds of a bear market are low amid a strong private sector and coming rate cuts, Goldman Sachs says. AdvertisementMacro and policy uncertainty have raised warning signs for further volatility for stocks in recent weeks, but the risk of a steeper correction into bear market territory looks remote, Goldman Sachs analysts said. According to the bank, there's an elevated risk that investors pullback amid lofty valuations, a mixed macro outlook, and policy uncertainty. The firm's outlook comes as indexes have been rattled in recent months by volatility stemming from weaker-than-expected macro data.
Persons: Goldman Sachs, Goldman, Organizations: Service, Fed
Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewRussian President Vladimir Putin is having a very social year as his country continues to wage war in Ukraine. So far, Putin has met top leaders from Asian countries including China, India, Vietnam, and Indonesia. Russia is the BRICS chair this year, and Putin has invited Mongolia to join the group's summit in October. Russia's push for a multipolar world order resonates with countries who desire a more equitable international order.
Persons: , Vladimir Putin, Putin, Sean McFate, McFate, Anwar Ibrahim, Ukhnaagiin Khürelsükh, couldn't, Russia —, Serik, Li Qiang's, Syracuse University's McFate, it's, Derek Grossman, Grossman Organizations: Service, Syracuse University Maxwell School of Citizenship, Public Affairs, Business, Malaysian, Criminal, ICC, World Bank, European Union, NATO, Bloomberg, Moscow, Central, European, EU, United Nations, RAND, Foreign Locations: Ukraine, China, India, Vietnam, Indonesia, Russia, North Korea, Iran, Mongolia, Mongolian, Russia's, European, Sri Lanka, Turkey, Kazakhstan, Central Asian, European Union, Moscow, Beijing, Europe, Syracuse, Brazil, South Africa, Malaysia, Switzerland, United States
Abbott Laboratories announced Thursday its over-the-counter continuous glucose monitor Lingo is available in the U.S. starting at $49. These devices, called continuous glucose monitors, are small sensors that stick through the skin to measure real-time glucose levels. Continuous glucose monitors have served as tools for patients with diabetes, but Lingo is not intended for diabetes management. The company released its over-the-counter continuous glucose monitor geared toward this demographic in late August. The U.S. Food and Drug Administration approved Dexcom's Stelo in March, and it cleared two over-the-counter continuous glucose monitoring systems from Abbott in June.
Persons: Lingo, it's, Abbott, That's, Ben Fohner, Abbott's, Olivier Ropars, Ropars, Dexcom's Organizations: Abbott, CNBC, U.S . Food, Drug Administration, Dexcom's Stelo, Libre, Libre Rio Locations: U.S
New York CNN —Wall Street is eyeing what could be the most consequential economic data report in months due out Friday. At the same time, Wall Street is looking for signs that the job market is cooling steadily, rather than plummeting into conditions for a recession. That uncertainty has been palpable in recent days as Wall Street parsed several economic reports before Friday’s main event. Big Tech shares gained Thursday, but suffered steep losses earlier this week. Tesla, the only Magnificent Seven tech stock up for the week, has jumped 7.5%.
Persons: That’s, Jerome Powell, , , Christopher Larkin, Morgan, Stocks, Dow, BeiChen Lin, Tesla Organizations: New, New York CNN, Federal Reserve, Nasdaq, Institute for Supply Management, , Russell Investments, Big Tech, Apple, Meta, Microsoft, Organization of, Petroleum Locations: New York, China
Harris called for ending taxes on tips while rolling out a series of populist economic proposals last week, echoing a policy Trump already supported. The vice president pointed to Trump’s opposition to a bipartisan border security and immigration bill, which turned Republicans against the measure. Vice President Kamala Harris gestures as she steps from Air Force Two upon arriving at Joint Base Andrews, Maryland, on August 23, 2024. As the sitting vice president, Harris’s response to an economic calamity or foreign crisis would be closely scrutinized. The spokesperson also said there have been more than 1,000 sign-ups for Students for Harris chapters across the country since the launch of Harris’ campaign.
Persons: Kamala Harris, Donald Trump, Joe Biden, Harris, eyeing, Trump, Robert F, Kennedy Jr, who’s, ” Kennedy, Biden, showdowns, I’m, Hawaii Democratic Sen, Brian Schatz, , ” Harris, , she’s, ‘ We’re, ’ She’s, Ohio Sen, JD Vance, Kamala, mispronounced Harris ’, Harris ’, fumed, he’s, ” Trump, La Capra, Julia Nikhinson, let’s, familiarizing, , Kevin Lamarque, Tulsi Gabbard, Gabbard, Jen O’Malley Dillon, Austin Steele, Quentin Fulks, Tim Walz, Joshua Martin, Rebecca Wright, Pinar Yildirim, Deja Foxx, “ Young, Brian Kemp, Kemp, Vance, Trump’s, ” Vance, Sean Hannity, “ We’re, ” Kemp, “ Kamala Harris, Wisconsin . Ohio Sen, Marco Bello, Walz, ” CNN’s Ted Barrett, Kate Sullivan, Kristen Holmes, Ali Main, Aaron Pellish, Alejandra Jaramillo, Priscilla Alvarez Organizations: CNN, Democratic National Convention, Trump, Democratic, ABC, Hawaii Democratic, Republican, Biden, Social Security, Air Force, Joint Base Andrews, Reuters, Union, Hawaii Rep, United Center, MSNBC, United, Minnesota Gov, Convention, University of Pennsylvania, Facebook, Harris, Georgia Gov, Georgia Republican, Party, GOP, Fox News Locations: Arizona, Trump, Glendale, Hawaii, Chicago, Ohio, Georgia, Nevada, Las Vegas, Mexican, North Carolina , Nevada , Arizona, Wisconsin , Michigan, Pennsylvania, Joint Base Andrews , Maryland, California, Chicago , Illinois, Washington, Asheboro, United States, Wisconsin . Ohio, Kenosha, Kenosha , Wisconsin
Why dividend stocks should be a hot play into fall
  + stars: | 2024-08-24 | by ( Ellie Stevens | ) www.cnbc.com   time to read: +2 min
It appears more investors are eyeing dividend stocks ahead of the Federal Reserve's interest rate decision in September. Paul Baiocchi of SS&C ALPS Advisors thinks it is a sound strategy because he sees the Fed easing rates. ALPS is the issuer of several dividend exchange-traded funds including the ALPS O'Shares U.S. Quality Dividend ETF (OUSA) and its counterpart, the ALPS O'Shares U.S. Small-Cap Quality Dividend ETF (OUSM). Relative to the S&P 500 , both dividend ETFs are overweight health care, financials and industrials , according to Baiocchi. Mike Akins, ETF Action's founding partner, views OUSA and OUSM as defensive strategies because the stocks generally have clean balance sheets.
Persons: Paul Baiocchi, CNBC's, Baiocchi, Mike Akins, OUSA, Akins Organizations: C Locations: U.S
I'm a frequent traveler spending $1,300 a year on credit card fees to get great perks. My United℠ Explorer Card card has gotten me priority boarding but I'm not sure I want to keep it. For years, I prided myself on using no-fee credit cards that offered a small amount of cash back on purchases. But I changed my mind once I started traveling more and learning about the perks some credit cards offered. Here are my favorite travel card perks, plus a few I've enjoyed but would be OK losing.
Persons: I'm, , I've, Taylor Rains Organizations: American Express, Service, Honors, Chase, United, United Club Locations: New Delhi, Washington, DC
CNN —It is another coin-flip in a conflict punctuated with at least annual reminders of how frail Vladimir Putin’s Russia truly is. It is purposefully unclear exactly where Ukraine’s forces are. It is also unclear where Ukrainian forces are digging in and where they are just racing through. This time it is Putin’s own FSB, who couldn’t keep control of the borders, in Putin’s war of choice. Residents of an apartment building damaged after shelling by the Ukrainian side stand near the building in Kursk, Russia, on Sunday.
Persons: Vladimir Putin’s, Kyiv’s, Wagner, Oleksandr Syrskyi, , , Lindsey Graham, Richard Blumenthal, Yevgeny Prigozhin’s, Putin, Andrew Kravchenko, Alexei Smirnov, it’s, he’s, Valery Gerasimov, Joseph Stalin, insurgencies, Putin’s, egotistically, Volodymyr Zelensky, Russia’s Putin, , Zelensky, Ukraine’s Organizations: CNN, Kyiv, Kremlin, Armed Forces of, Bloomberg, Getty, Manpower, Residents, AP Locations: Vladimir Putin’s Russia, Kharkiv, Kyiv, Russia, Ukraine, Kursk, Rostov, Moscow, Lgov, Armed Forces of Ukraine, Donbas, Pokrovsk, Ukrainian
Following Monday's trade, Jim Cramer's Charitable Trust will own 750 shares of Amazon, increasing its weighting to roughly 3.9% from 3.54%. We've been eyeing this buy since Aug. 2 after the stock fell roughly 10% in reaction to a second - quarter earnings report . Let's not forget the 1,128 basis point margin growth at Amazon Web Services. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jim Cramer's, We've, Donald Trump, Jim Cramer, Morgan Stanley, Jim Organizations: Amazon, Services, Amazon Web Services, CNBC Locations: North America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's an abundance of capital from Middle East and investors are eyeing Southeast Asia, BofA saysJohn Lin, head of mergers and acquisitions for Southeast Asia at Bank of America, discusses the sectors attracting interest.
Persons: BofA, John Lin Organizations: Southeast Asia, Bank of America Locations: Middle East, Southeast Asia
Read previewLast Friday, Vice President Kamala Harris and her running mate, Minnesota Gov. AdvertisementTrump can't take Arizona for grantedBefore Biden won Arizona in 2020, it last voted for a Democratic presidential nominee in 1996. AdvertisementHowever, for Trump, a Harris win in Arizona would be a huge blow in his attempts to win a second term. Biden's 2020 victories in Arizona, Georgia, and Nevada — as well as his wins in Michigan, Pennsylvania, and Wisconsin — effectively cut off Trump's path to victory that year. Should Harris neutralize the border security issue — a feat that seemed unimaginable when Biden was still the presumptive nominee — it'll give her a major opening to win Arizona.
Persons: , Kamala Harris, Tim Walz, It's, Donald Trump, Joe Biden's, Harris, Trump, it's, Greg Abbott —, Biden, scrambles, Biden's, Democrat Mark Kelly, Katie Hobbs, Donald Trump's, Mario Tama, — it'll Organizations: Service, Minnesota Gov, Democratic, State, Business, Trump, Arizona, Republican, Texas GOP Gov, Biden, Republicans, Central America, Democrat, White House, GOP, Locations: Glendale , Arizona, Phoenix, Mexico, New York, Chicago, California, Central, Arizona, Nevada, Georgia, Arizona's, Arizona , Georgia, Michigan , Pennsylvania, Wisconsin
The European private equity firm had been eyeing the late-stage startup for five years, impressed by its traction and focus on customer success. The speed of the deal, and the flashy multiple, illustrate how private equity funds are able to swallow startups more often lately. But in the face of rising inflation and interest rates, software customers from tech startups to mom-and-pop shops trimmed their budgets. Andreessen Horowitz plans to invest in the private equity asset class through its family office division. With high interest rates and a liquidity crunch reshaping the landscape, private equity is seizing the moment.
Persons: , Scott Arnold, AuditBoard, Michael Brown, They're, Brown, Derek Hernandez, Aaron Fleishman, Fleishman, they're, Thoma, Yoni, Rechtman, it's, Catalyst, Andreessen Horowitz Organizations: Service, Business, Battery Ventures, Battery, Tola Capital, Thoma Bravo, Vista Equity Partners, Slow Ventures, Eldridge Industries, Sequoia Locations: Southern California, VCs, Big Tech, Metropolis, North America
Condo owners unable to pay an assessment can be foreclosed on by their condo association. After that, she plans to move back into her Florida condo, but in the meantime, she’s been living with her adult son. But that’s what happens when prior boards don’t do their job.”But the decision ended up pitting the building’s owners against each other, with some owners saying the work was unnecessary. “These guys ruined my early retirement plan.”Lopez, who helped craft the legislation, said she is looking for ways to provide relief to condo owners once Florida’s Legislature reconvenes next year. Stone would like to see the state Legislature give buildings and condo owners more time to comply with the regulations so they would be able to spread out the costs.
Persons: Janet Stone, she’s, ’ ”, Stone, We’ve, , Vicki Lopez, , , Greg Batista, he’s, reapplied, ” Stone, Krista Goodrich, they’ve, Batista, Joseph Hernandez, Edgardo Defortuna, ” Defortuna, Jeremy Maurice, Maurice, ” Maurice, Steve Davis, Cristian Murray, ” Murray, ” Lopez, reconvenes, “ I’m, I’m Organizations: Florida House, NBC, Yacht, Surfside, Condo, realtors, Statewide, Dade, University of Miami Locations: Florida’s, Las Vegas, Ormond Beach , Florida, Florida, Champlain, Miami, , Daytona Beach, Orlando, Miami Beach, Hollywood , Florida, Ormond Beach, Redfin, Volusia County, South, Dade County
Read previewDespite what the title may suggest, "It Ends With Us" is just the first chapter in Colleen Hoover's viral BookTok series. "I think there are better people for that one," Baldoni told Entertainment Tonight at the film's New York premiere when asked about the potential for a sequel. AdvertisementBlake Lively as Lily Bloom and Justin Baldoni as Ryle Kincaid in "It Ends With Us." On the prospect of a sequel, Christy Hall, who adapted the novel for the big screen, told Business Insider that the movie rights may have already been snapped up — by someone else. The book sequel picks up immediately after the end of 'It Ends With Us'The sequel, which was published in 2022, picks up immediately after the final scene from "It Ends With Us."
Persons: , Colleen Hoover's, Blake Lively, Justin Baldoni, Baldoni, Blake Lively's, Lily Bloom, Ryle Kincaid, Lively, Christy Hall, Colleen Hoover, Brandon Sklenar, Atlas Corrigan, Jojo Whilden, Colleen, she's, Hall, I'd, Hoover, Lily, Josh, Verity Organizations: Service, Business, Entertainment, Sony Pictures, Rotten, Hollywood, Variety, Amazon MGM Studios Locations: York, Hollywood
Recent market turbulence has unearthed some bargain prices for momentum stocks, according to Wells Fargo. He suggests that investors "buy stocks, not the stock market." Here's a closer look at stocks Wells Fargo is eyeing in light of the recent market volatility. Shares of the Facebook parent have gained roughly 45% in 2024, but have slumped 3% over the past month. Eli Lilly has climbed 53% in 2024, but is down roughly 8% over the past month.
Persons: Wells, Christopher Harvey, Harvey, Harvey isn't, Blayne Curtis, Eli Lilly, Lilly, Zepbound Organizations: Services, Nvidia, Jefferies, Facebook, Meta, LSEG, Netflix Locations: Wells Fargo, U.S, Wells
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