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☆ Nvidia's 10-for-1 stock split is set for Friday. Here's what you need to know, plus what its fair value will be after, according to Morningstar's chief US market strategist.
▼ + stars: | 2024-06-05 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Nvidia is set to make a 10-for-one forward stock split on June 7, which means your one share will become 10 shares. A stock split won't change a company's economic value or the value you hold of it. It only changes the proportionate amount of ownership that each share represents, says Dave Sekera, Morningstar's chief US market strategist. After the stock split, its fair value would go to $105, Sekera noted. One notable impact that could result from a lower share price is Nvidia's increased potential of being included in price-weighted indexes, specifically the Dow Jones Industrial Average.

Persons: —, Dave Sekera, Sekera Organizations: Service, Nvidia, Business, Dow Jones

☆ YOLO is dying. That could be bad news for the economy
▼ + stars: | 2024-06-04 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —YOLO economy, meet the “yo, no” economy. In what was dubbed the YOLO economy (short for “you only live once”), or revenge spending, consumers shelled out for the experiences and goods they had missed. And that may be bad news for the economy. “We are monitoring the issue and engaging with market participants,” a spokesperson for the Securities and Exchange Commission told CNN. Joe Saluzzi, co-founder of Themis Trading, told CNN that the NYSE’s explanation is hard to square with the bizarre trades that hit the tape.

Persons: “ Covid, doesn’t, ” Sameer Samana, “, There’s, ”, that’s, Taylor Swift, It’s, Dow, Jerome Powell, Berkshire Hathaway, Warren Buffett, Joe Saluzzi, Themis Trading, I’m, Saluzzi, ” Read, Matt Egan, Keith Gill —, ” —, Read, Anna Cooban Organizations: CNN Business, Bell, New York CNN, Wells, Investment Institute, Walmart, Target, Employers, TSA, Federal Reserve, New York Stock Exchange, The New York Stock Exchange, ” Intercontinental Exchange, NYSE, ICE, CNN, NYSE Group, Consolidated, CTA, Berkshire Hathaway’s, Berkshire, Securities and Exchange Commission, Themis, GameStop, AMC Entertainment Locations: New York, YOLO, Samana, “, Berkshire

☆ Job market is still strong but has 'gotten competitive' for applicants, economist says
▼ + stars: | 2024-06-04 | by ( Greg Iacurci | ) www.cnbc.com time to read: +2 min

"This is still a strong labor market." The U.S. Federal Reserve raised borrowing costs to pump the brakes on the economy and labor market, ultimately to throttle back inflation. watch nowThere are indicators the U.S. job market remains strong and resilient despite headwinds, economists said. The national unemployment rate has been below 4% — a level indicating historical labor market strength — since February 2022. The current job market is more sustainable, she said.

Persons: Julia Pollak, Don't, Thomas Ryan, it's, Pollak, ZipRecruiter Organizations: SDI, U.S . Federal Reserve, Labor, Capital Economics, Workers, Federal Reserve Locations: North America

☆ Stocks slide as Wall Street worries about the economy’s health
▼ + stars: | 2024-06-03 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

New York CNN —US stocks tumbled Monday after fresh data stoked concerns about the economy’s health. Investors have in recent weeks grappled with data that suggests inflation is continuing to run hot while the economy cools. The Personal Consumption Expenditures price index, the Fed’s preferred inflation gauge, showed Friday that inflation stayed stubbornly high in March. New gross domestic product data released last Thursday showed that the US economy expanded at a weaker pace earlier this year than initially reported. Elsewhere, the New York Stock Exchange said Monday that a technical issue that halted trading for some stocks and caused Berkshire Hathaway shares to be down 99.97% has been resolved.

Persons: Dow, ”, José Torres, cinched, Keith Lerner, Berkshire Hathaway Organizations: New, New York CNN, Nasdaq, Institute for Supply Management, Interactive Brokers, Federal Reserve, PCE, Commerce Department, Commerce, New York Stock Exchange, Berkshire Locations: New York

☆ Look at the financials and technicals before getting into meme stocks, says Trade-Ideas' Michael Nauss
▼ + stars: | 2024-06-03 | 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 EmailLook at the financials and technicals before getting into meme stocks, says Trade-Ideas' Michael NaussMichael Nauss, Trade-Ideas chief market strategist, joins 'Power Lunch' to discuss the meme stock surge and Roaring Kitty.

Persons: Michael Nauss Michael Nauss

☆ Three Stock Lunch: Johnson & Johnson, Costco & Spotify
▼ + stars: | 2024-06-03 | 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 EmailThree Stock Lunch: Johnson & Johnson, Costco & SpotifyGina Sanchez, Lido Advisors chief market strategist, joins 'Power Lunch' to discuss stock plays for three stocks, including Johnson & Johnson, Costco, and Spotify.

Persons: Johnson, Gina Sanchez Organizations: Johnson, Costco, Lido Advisors, Spotify

☆ New York Stock Exchange is investigating technical issue as dozens of stocks are halted
▼ + stars: | 2024-06-03 | by ( Matt Egan | ) edition.cnn.com time to read: +1 min

New York CNN —The New York Stock Exchange is investigating a technical issue on Monday as Berkshire Hathaway and dozens of other stocks are halted. NYSE said the technical issue is related to a mechanism designed to prevent stock prices from swinging wildly. Dozens of stocks are paused because they traded outside those so-called limit up-limit down bands, according to NYSE’s website. Joe Saluzzi, co-founder of Themis Trading, told CNN that the technical issues don’t appear to be impacting the broader market. However, Barrick Gold (GOLD), a Canadian gold and copper producer, was displayed as trading at just 25 cents — down 98.5% on the day, according to Refinitiv.

Persons: Berkshire Hathaway, Warren Buffett, It’s, Emily Pan, Joe Saluzzi, Themis Trading, ”, Saluzzi, NuScale Organizations: New, New York CNN, The New York Stock Exchange, Berkshire, NYSE, CNN, Nasdaq, Securities and Exchange Commission, Themis, ”, Barrick Locations: New York, Berkshire, Refinitiv . Berkshire, Chipotle, ” Besides Berkshire

Opinion Guest Essay Why the Pandemic Probably Started in a Lab, in 5 Key Points Illustration by Mike McQuade. Here’s what we now know:1 The SARS-like virus that caused the pandemic emerged in Wuhan, the city where the world’s foremost research lab for SARS-like viruses is located. Wuhan China Taiwan Laos South China Sea Thailand The pandemic started roughly 1,000 miles away, in Wuhan, home to the world’s foremost SARS-like virus research lab. Wuhan China East China Sea india Taiwan Myanmar Laos South China Sea philippines Thailand The pandemic started roughly 1,000 miles away, in Wuhan, home to the world’s foremost SARS-like virus research lab. In the United States, virologists generally use stricter Biosafety Level 3 protocols when working with SARS-like viruses.

Persons: Mike McQuade, Anthony Fauci, —, Shi Zhengli, Shi’s, Sarah Temmam et, Shi, coronavirus, EcoHealth, Peter Daszak, Biden, Daszak, Baric, Jesse Bloom, Fauci Organizations: Getty Images, National Institute of Allergy, Wuhan Institute of Virology, China East China, U.S, New York, Facebook Locations: United States, Wuhan, China, Yunnan, Southeast Asia, Laos, Yunnan province Taiwan Laos, Laos South China, Thailand, China East China, Taiwan Myanmar Laos South China, Laos philippines Thailand, Taiwan Laos South China, China East, philippines Thailand, Wuhan China Taiwan Laos South China, Wuhan China East China, China Wuhan East China, Covid, MERS

☆ Currencies tread cautiously after U.S. inflation report, focus on ECB
▼ + stars: | 2024-06-03 | by ( ) www.cnbc.com time to read: +3 min

The dollar posted its first monthly decline of the year in May, weighed down by shifting expectations on when the U.S. central bank will cut rates and by how much. Traders are now pricing in about a 53% chance of a rate cut in September, versus about 49% before the report. The dollar index , which measures the U.S. currency against six rivals, was 0.067% lower at 104.51 on Monday. Sterling was 0.04% higher at $1.27475, while the euro last fetched $1.085325 ahead of the European Central Bank policy meeting on Thursday when the central bank is seen as almost certain to cut rates. The comments from ECB officials will be in focus for traders along with economic projections as they assess whether the central bank will provide further cuts after Thursday in the wake of data showing a rise in euro zone inflation in May.

Persons: Brian Jacobsen, Sterling, Chris Weston, Tony Sycamore, Sycamore Organizations: Federal Reserve, Traders, Annex Wealth Management, European Central Bank, ECB, Japan's Ministry of Finance, U.S, IG Locations: Buenos Aires, Argentina, U.S, Tokyo

☆ Gold flat ahead of U.S. data, but set for 4th straight monthly gain
▼ + stars: | 2024-05-31 | by ( ) www.cnbc.com time to read: +2 min

One kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices were set for a fourth straight monthly gain, even as the market struggled for momentum on Friday ahead of a key U.S. inflation reading that could provide more indications on how the Federal Reserve might proceed with rate cuts later this year. Bullion prices are up 0.3% so far this week and 2.5% so far in the month. Spot silver fell 0.8% to $30.95 per ounce, but was set for its biggest monthly gain since July 2020. Platinum was down 0.2% at $1,021.94 and palladium lost 0.2% to $945.56.

Persons: Kyle Rodda, Yeap Jun Rong Organizations: Co, Federal Reserve Locations: Bangkok, Thailand, U.S

☆ Truist's Lerner: General election will cause risk for stocks but other factors matter more
▼ + stars: | 2024-05-31 | 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 EmailTruist's Lerner: General election will cause risk for stocks but other factors matter moreKeith Lerner, Truist co-CIO and chief market strategist, joins 'Squawk on the Street' to discuss if the presidential election will create risk for equities, which president would be better for the stock market, and more.

Persons: Truist's Lerner, Keith Lerner, Truist

☆ Investing legend Rob Arnott shares 3 trades to exploit underappreciated 'asymmetries' in the market right now — and 6 cheap investments he's betting will deliver 'double-digit' annual returns over the
▼ + stars: | 2024-05-31 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

But both inflation and economic growth have upside and downside risks relative to consensus. AdvertisementOn inflation, Arnott believes it's far more likely that it surprises to the upside. AdvertisementTo take advantage of these asymmetries in the market, Arnott said that value stocks and TIPS are two investments that would perform well in a higher-inflation environment. One way investors can gain exposure to these assets is through funds like the iShares Core S&P U.S. Value ETF (IUSV), the Schwab U.S. More specifically, value stocks within both developed and emerging markets are trading in their "cheapest decile ever" compared to growth stocks, Arnott said.

Persons: —, Rob Arnott, Arnott, it's, there's, I've, I'm Organizations: Service, Treasury, Securities, Business, Research Affiliates, Federal Reserve, Value, Schwab, MLP, Funds, Equity Locations: Schwab U.S

☆ Stock market today: US stocks extend losses ahead of new inflation data
▼ + stars: | 2024-05-30 | by ( Max Adams | ) www.businessinsider.com time to read: +3 min

Shares of Salesforce dragged the Dow lower after it posted its first revenue miss in nearly 20 years. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUS stocks continued a painful slide lower on Thursday as traders turned their attention to upcoming inflation data that could set the tone for the market as it heads into the summer months. ET, both indexes became stuck on several websites, though individual stock prices continued to update normally. Shares of Salesforce dragged the Dow as the stock dropped 20% after it reported its first revenue miss in almost 20 years.

Persons: Stocks, Salesforce, —, Dow, David Russell Organizations: Service, Dow Jones, Dow, Treasury, Global, Barclays, Here's

☆ Zero-down mortgages are making a comeback
▼ + stars: | 2024-05-30 | by ( Matt Egan | ) edition.cnn.com time to read: +8 min

That massive roadblock is being removed by a new zero-percent down mortgage program launched two weeks ago by one of the nation’s largest mortgage lenders. ‘Demand has been huge’These mortgages are only open to first-time homebuyers and those making no more than 80% of the area’s median income. That’s because in order to refinance at a lower rate, the homeowner would need to fully pay off that second mortgage. For instance, Bank of America launched a zero-down payment mortgage program in 2022 for first-time homebuyers in certain Black and Hispanic neighborhoods. “These mortgages are going to be ticking time bombs – just like subprime mortgages –unless home prices continue to increase very substantially,” Kelleher said.

Persons: Mat Ishbia, homebuyers, Christian Petersen, refinances, UWM, ” Alex Elezaj, they’d, ”, Patricia McCoy, McCoy, won’t, Bankrate, ‘, Anneliese Lederer, ” Lederer, ” Dennis Kelleher, ” Kelleher, Jonathan Adams, ” UWM, Elezaj, “, ” Elezaj, ” It’s, “ We’re, Greg McBride, Adams, ” Adams Organizations: CNN, United Wholesale Mortgage, Phoenix Suns NBA, Phoenix Suns, NBA, Oklahoma City, Footprint Center, Boston College Law School, Consumer Financial Protection Bureau, Federal Reserve, Bank of America, US Department of Agriculture, US Department of Veterans Affairs, Center for Responsible, Better, Saint Joseph’s University, Bankrate, “, Wall Street Locations: Phoenix , Arizona

☆ The stock market rally is running on fumes as earnings growth can't keep up with sky-high prices, top economist says
▼ + stars: | 2024-05-30 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The stock market is primed for a correction as equity valuations hit historically high levels, according to economist David Rosenberg. AdvertisementThe stock market is "primed for a correction" as earnings valuations hit historically high levels, according to economist David Rosenberg. That suggests that the expansion in the S&P 500's forward price-to-earnings valuation multiple to 21x from 18x in October is getting stretched. Wall Street consensus for the S&P 500's 2024 earnings per share is $245, which is the same forecast today as it was in October, before the stock market staged a near-30% rally. AdvertisementThat has informed Rosenberg's consistently bearish view, but the economist did say that high valuations on their own do not mean the stock market can't go higher from here.

Persons: David Rosenberg, Rosenberg, —, " Rosenberg, Rosenberg's Organizations: Service

☆ Salesforce shares tumble 20%, on pace for worst day since 2004
▼ + stars: | 2024-05-30 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

Photographer: David Odisho/Bloomberg via Getty ImagesShares of Salesforce tumbled 20% Thursday morning, putting the stock on pace for its worst day in nearly 20 years. Its worst trading day on record is July 4, 2004, when shares fell 27% just days after the company went public. Salesforce expects second-quarter adjusted earnings per share of $2.34 to $2.36 on $9.2 billion to $9.25 billion in revenue. Goldman Sachs analysts reiterated their buy rating on the stock and said they view Salesforce as a "high-quality software franchise." Goldman Sachs analysts said in a note Wednesday that Salesforce is "an under-appreciated Gen-AI winner."

Persons: Marc Benioff, Benioff, David Odisho, Salesforce, LSEG, Salesforce's, Goldman Sachs, Morgan Stanley, — CNBC's Michael Bloom, Jordan Novet Organizations: Salesforce.com Inc, Bloomberg, Getty, Citi Locations: San Francisco , California, Francisco's

☆ Fed's Williams says inflation is too high but will start coming down soon
▼ + stars: | 2024-05-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

NEW YORK — New York Federal Reserve President John Williams on Thursday said inflation is still too high but he is confident it will start decelerating later this year. With markets on edge over the direction of monetary policy, Williams offered no clear signs on where he is leaning as far as possible interest rate cuts go. Williams called policy "well-positioned" and "restrictive" and said it is helping the Fed achieve its goals. But higher than expected inflation readings have altered that landscape dramatically, and current pricing is pointing to just one decrease, probably in November. Williams said he expects PCE inflation to drift down to 2.5% this year on its way back to 2% in 2026.

Persons: John Williams, Williams, CNBC's Sara Eisen, Dow Jones Organizations: Federal Reserve Bank of New, York Federal, Economic, of New, Fed, Commerce Department Locations: Federal Reserve Bank of New York, New York, York, of New York

☆ Jamie Dimon says there could be 'hell to pay' if the swelling private-credit market starts showing cracks
▼ + stars: | 2024-05-29 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

"There could be hell to pay" if private credit markets wobble, Jamie Dimon said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementJPMorgan Chase CEO Jamie Dimon said private credit could spark turmoil if the opaque sector of financial markets weakens. The private credit market—a corner of finance dominated by non-bank lenders who originate loans to private businesses—has grown rapidly in recent years. "And the problems in financial markets are often caused by the 'not good one,' the people that make the mistakes."

Persons: Jamie Dimon, —, Dimon Organizations: Service, JPMorgan, Bloomberg

☆ Three buys and a bail: Abercrombie, Chewy, Dick's Sporting Goods, Advance Auto Parts
▼ + stars: | 2024-05-28 | 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 EmailThree buys and a bail: Abercrombie, Chewy, Dick's Sporting Goods, Advance Auto PartsGina Sanchez, chief market strategist at Lido Advisors, joins CNBC's 'The Exchange' to discuss four stocks: Abercrombie, Chewy, Dick's, and Advanced Auto.

Persons: Abercrombie, Chewy, Gina Sanchez Organizations: Dick's Sporting Goods, Advance, Lido Advisors, Abercrombie

☆ Detrick: Upward market bias is still intact
▼ + stars: | 2024-05-28 | 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 EmailDetrick: Upward market bias is still intactRyan Detrick, Chief Market Strateigst at the Carson Group, discusses the new trading day and week.

Persons: Ryan Detrick Organizations: Carson Group

☆ Nothing wrong with market leaders like Nvidia continuing to lead, says Trade Idea's Michael Nauss
▼ + stars: | 2024-05-24 | 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 EmailNothing wrong with market leaders like Nvidia continuing to lead, says Trade Idea's Michael NaussMichael Nauss, Trade Ideas chief market strategist, joins 'Power Lunch' to discuss market divergence, Nvidia, gold and bitcoin's performance, and more.

Persons: Michael Nauss Michael Nauss Organizations: Ideas

☆ Gold price gains, but set for first weekly fall in three
▼ + stars: | 2024-05-24 | by ( ) www.cnbc.com time to read: +1 min

Gold prices rose on Friday, but were headed for their first weekly fall in three as expectations for interest rate cuts began to fade following the hawkish tone adopted in the U.S. Federal Reserve's latest minutes. Spot gold rose 0.54% to $2,340.90 per ounce, after earlier hitting its lowest since May 9. While the policy response for now would "involve maintaining" interest rates at current levels, the latest Fed minutes reflected discussions of possible hikes. Higher interest rates make non-yielding gold a less appealing investment. Previous expectations were for a likely first rate cut in September.

Persons: Ross Norman, Ricardo Evangelista Organizations: U.S, U.S . Federal, Federal, Traders Locations: U.S .

☆ Carson Group's Ryan Detricks says stocks could have a 'surprise summer rally'
▼ + stars: | 2024-05-24 | 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 EmailCarson Group's Ryan Detricks says stocks could have a 'surprise summer rally'Ryan Detrick, Carson Group chief market strategist, joins 'Closing Bell' to give his outlook for stocks in the summer.

Persons: Carson Group's Ryan Detricks, Ryan Detrick Organizations: Carson Group

☆ How family offices are planning to invest now and in the next 5 years, according to UBS
▼ + stars: | 2024-05-23 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Here's how family offices are investing this year and how they plan to change their allocations in the next five years, according to UBS' Global Family Office Report 2024. Family offices plan to maintain the same allocation for 2024 – at 16%. Real estate Apart from fixed income, real estate was the other big change in how family offices invested last year, according to UBS. But family offices plan to increase the real estate part of their portfolios — to 12% in 2024, according to the report. Elsewhere, family offices are investing in Western Europe – in sectors such as luxury goods and automation, and in Asia Pacific (35%).

Persons: That's Organizations: UBS, Global, –, Globally, Koh Locations: North America, U.S, Western Europe, Asia, Greater China

☆ The Dow is set to surge 50% by 2030 as the 'roaring 20s' are alive and well for stocks, market vet says
▼ + stars: | 2024-05-22 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

With the stock market trading at record highs, the "Roaring 20s" thesis is alive and well. That's according to Ed Yardeni, who expects the Dow and S&P 500 to soar 50% by 2030. "That target could be achieved with a forward P/E of 20 and forward earnings at $400 per share," Yardeni said. AdvertisementWith stocks trading at record highs, the "Roaring 20's" bull thesis remains intact, according to market veteran Ed Yardeni. AdvertisementForward S&P 500 earnings per share hit $257.20 last week, and analysts currently estimate that S&P 500 EPS will rise to $278 in 2025 and $313 in 2026.

Persons: Ed Yardeni, Yardeni, —, Eric Wallerstein, Wallerstein Organizations: Dow, Service, Dow Jones Industrial, CNBC, Yardeni Research

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