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As the politics and legality of the Biden administration's new executive action to ban asylum seekers who cross the US-Mexico border illegally continue to play out, migrants are battling deadly, triple-digit heat as they attempt to cross into the US near El Paso, Texas. USBP warned that people crossing should consider the risks involved due to extreme heat and triple-digit temperatures. BP agents work tirelessly to save lives, but the safest option is not to attempt the crossing,” USBP said. “A heat advisory has been issued for portions of El Paso, Dona Ana, and Hudspeth counties for Wednesday and Thursday. !,” the NWS El Paso office said in a forecast message.
Persons: Tragically, ” USBP, USBP, Dona Ana, Taylor Ward Organizations: Biden, US Border Patrol, El Paso Sector, Facebook, National Weather Service, NWS El, CNN Locations: Mexico, El Paso , Texas, El Paso, NWS El Paso
What slumping oil prices mean for our stake in Coterra Energy
  + stars: | 2024-06-04 | by ( Zev Fima | ) www.cnbc.com   time to read: +6 min
U.S. crude prices fell for the fifth straight day Tuesday, but we remain committed to our lone oil-and-gas stock in Coterra Energy . Elevated oil prices have, as a result, pressured discretionary spending and corporate margins. If we get that, then we should see lower oil prices and sustained buying power along with a healthy environment for business investments. And yet we still see reason to stick with Coterra Energy. Indeed, analysts at Citigroup published a research note Tuesday exploring potential takeover targets for Devon Energy, another ex-Club oil stock.
Persons: Goldman Sachs, we've, Coterra, It's, Jim Cramer's, Jim Cramer, Jim, Brandon Bell Organizations: Coterra, West Texas, Organization of, Petroleum, Coterra Energy, ConocoPhillips, Exxon Mobil, ex, Natural Resources, Citigroup, Devon Energy, CNBC, Getty Locations: Coterra Energy, U.S, Gaza, OPEC, Devon, Grandfalls , Texas
The yield on the 10-year Treasury was down by 6 basis points at 4.334%. The 2-year Treasury yield pulled back 3.5 basis points to 4.78%. The fresh reading is fueling investor hope that the labor market is perhaps weak enough to allow the Federal Reserve to cut interest rates. Yields had fallen on Monday, with the 10-year Treasury yield tumbling close to 12 basis points, after economic data indicated a contraction of the manufacturing sector. — Correction: The 10-year Treasury yield fell nearly 12 basis points Monday.
Persons: Dow Jones, nonfarm payrolls Organizations: Treasury, U.S, Labor Department, Dow, Federal Reserve, Fed, European Central Bank
Casey said there has been a 100% increase in cyber incidents and ransomware demands across the board. These are people within organizations that can be recruited to steal IP, data, or whatever the bad actor is targeting. "These are the employees who are having money problems, marital problems that someone can take advantage of," Casey said. "The PRC is an authoritarian state and there should be no confusion between that and Chinese Americans and people of Chinese descent," Casey said. "Leaders need to know what they would do if the worst thing happens," Casey said.
Persons: Michael Casey, Michael C, Casey, Eamon Javers, I'm Organizations: Intelligence, Capitol, National Counterintelligence and Security Center, CNBC, Summit, Washington , D.C, CNBC Senior Washington, FBI Locations: Washington ,, U.S, China, Russia
As a bed and breakfast owner in Taiwan's Hualien County, Chen Rei-jia was used to the minor tremors that sometimes disturbed her work. Source: Jan Camenzind BroombyNow, survivors like Chen are facing a new challenge. "It might take five to 10 years for full recovery," Chang Chih-hsiang, director general of Hualien's tourism department, told CNBC Travel. Chang Chih-hsiang, head of Hualien's tourism office, estimates the area's tourism industry could take five to 10 years to fully recover. Source: Jan Camenzind Broomby
Persons: Chen Rei, jia, Chen, I've, Camenzind Broomby, Lai, Camenzind, Liang, Howard Yeh, Chang Chih, Stephanie Zhang, Chang, Cheng Wen, zhong, Lin Ya Organizations: Tourists, Hualien Hotel Association, CNBC Locations: Hualien County, Taiwan, Hualien, Taroko, Taipei
Milan, Italy CNN —Archaeologists have unearthed an intricately decorated blue room, interpreted as an ancient Roman shrine known as a sacrarium, during recent excavations in central Pompeii in Italy. Italian Ministry of CultureThe walls of the room feature female figures that are said to depict the four seasons of the year, as well as allegories of agriculture and shepherding. The new discovery came amid excavations in the Regio IX area of central Pompeii, a residential area that is currently one of the most active excavation sites for new findings. The project aims to improve the structure of the area, making the “protection of the vast Pompeiian heritage… more effective and sustainable,” the culture ministry said. Italian Ministry of CultureLast week, it was reported that archaeologists in Pompeii had uncovered children’s sketches depicting violent scenes of gladiators and hunters battling animals.
Persons: Gennaro Sangiuliano Organizations: Italy CNN —, of Culture, Italian Ministry of, Italian Ministry of Culture Locations: Milan, Italy, Pompeii, Regio IX
Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . After a landmark SCOTUS decision let states legalize sports-betting in 2018, the sector has become flush with cash, as countless leagues and team owners have struck deals. FanDuel inked a pact with Major League Baseball (MLB) to become its official betting partner last year, for instance. This story is available exclusively to Business Insider subscribers.
Persons: , SCOTUS, FanDuel Organizations: MLB, NBA, ESPN, Service, Major League Baseball, DraftKing, Business
Shares of Logitech are up 2% on the year and could rally another 17%, if Scemama's target price holds true. Analyst Kristine Liwag accompanied the move by raising her price target to $225 from $178. The bank reiterated its overweight rating on the credit card stock but lifted its price target to $275 from $265. International revs should run above the 10%+," the analyst added. Goldman analyst Tina Hou set a 12-month price target of $34, while Bank of America analyst Ming Hsun Lee set a price objective of $35.
Persons: Bernstein, Goldman Sachs, Goldman, TZE, Brian Lee, Lee, — Spencer Kimball, Didier Scemama, Scemama, — Lisa Kailai Han, Morgan Stanley, Kristine Liwag, Heico's, Liwag, Stanley Black, Decker, Julian Mitchell, Mitchell, Wells, Wells Fargo, Donald Fandetti, Fandetti, Canaccord, Kingsley Crane, Crane, Oppenheimer, Jed, Kelly foresees, FanDuel —, Kelly, Zeekr, Tina Hou, Ming Hsun Lee, Hou, Stacy Rasgon, Rasgon, Fred Imbert Organizations: CNBC, Broadcom, Bank of America, Investors, Technologies, Department of Energy, Logitech, Boeing, Barclays, Stanley, Nvidia, American, Express, American Express, U.S . American Express, Wall, Zeekr, China EV, China, Geely Automobile, AMD Locations: Monday's, EU, U.S, China, BofA
"The company made a massive switch in its consumer mix," said Sandeep Rao, a senior researcher at Leverage Shares, an investment management company. As for competition, even if Nvidia's contenders appear weak, more entrants will grab market share. Beth Kindig, the CEO and lead tech analyst for the I/O Fund, estimates that AMD's market share could reach 20%. Nvidia and AMD have similar production costs since neither makes their GPUs but uses the same supplier, Taiwan Semiconductor (TSMC). "So AMD is a little bit behind in terms of performance," Rao said.
Persons: Sandeep Rao, corporates, Rao, Nvidia's, Blackwell, Rubin, AMD'sRadeon, Beth Kindig, Nvidia's Blackwell Organizations: Service, Apple, Microsoft, Business, Nvidia, Semiconductor, Nvidia Investors, AMD, Taiwan Semiconductor, Intel, Baidu Locations: China, India
There is a focus on fake stories to influence attitudes on subjects like the wars in Ukraine and Gaza. But for the past year, the climate crisis has been the second-most targeted subject, according to the European Digital Media Observatory (EDMO). Official statistics, however, tell a different story: In 2022, renewables accounted for 23% of the energy consumed in the EU. The EU is considered a global leader in tackling planet-heating pollution, but climate disinformation could undermine the bloc’s ambitious goal to reduce carbon emissions by 90% by 2040, compared with 1990 levels. Its community standards policy in the past had only targeted video, but in April, it was expanded to include audio.
Persons: Morgan Wright, , streetlights, Paula Gori, , Gori, EU DisinfoLab, Wright, Gaizka Iroz, they’ve, “ They’ve, ” Gori, Pallavi Sethi, , , Facebook —, ” Wright Organizations: CNN, European Union, EU, Guardian, Bild, European Digital Media, Facebook, Getty, West, Grantham Research, London School of Economics, stoke, Services, European, Meta Locations: European, Russia, United States, United Kingdom, American, Europe, Germany, Ukraine, Gaza, EU, Spain, France, Biriatou, AFP, Africa, Asia, industrializing, Gori, Italy, Croatia, Poland, England, Grantham, Prague, Russian, Slovakia, Moscow
High interest rates continue to put pressure on the US banking system. The FDIC said the US banking system has 63 "problem banks" and is sitting on $517 billion in unrealized losses. AdvertisementMore than a year after the downfall of Silicon Valley Bank, higher interest rates are still putting pressure on the US banking system. According to the Federal Deposit Insurance Corporation's first quarter report, the US banking system is sitting on a collective $517 billion in unrealized losses and has 63 "problem banks." Those losses have been sparked primarily by a surge in interest rates over the past two years, which have driven down the price of fixed-income securities held by banks.
Persons: Organizations: FDIC, Service, Valley Bank, Federal Deposit Insurance, Business
From the protection of lakes and streams to the battle to curb greenhouse gas emissions, many voters in the upcoming US presidential election want to see the federal government play an active role in climate issues. One thing is clear though: the lion's share of voters believe that climate change is real. AdvertisementThe latest quarterly survey from the Yale Program on Climate Change Communication revealed that 72% of Americans believed that climate change was occurring, while only 15% disagreed. Related storiesHere's a look at President Joe Biden and former President Donald Trump's positions on climate — which is poised to be a defining issue for Gen Z and millennial voters this fall. But President Donald Trump withdrew from the plan while in office, blasting it as detrimental to the US economy.
Persons: Joe Biden, Donald Trump's, Gen Z, Biden, Barack Obama, Obama, Donald Trump, Trump Organizations: Service, Business, Yale, GOP, US, Keystone XL, Trump, Alaska National Wildlife, Environmental Protection Agency, Mar, The Washington, of Energy Locations: Paris, Alaska, Michigan
Axos Financial fell as much as 15% on Tuesday after Hindenburg Research announced a short position. The short bet stems from Axos' large exposure to commercial real estate. In a note, the research firm outlined that it's taken a short position in the lender, citing Axos' rising exposure to commercial real estate. AdvertisementTo compare with Axos, the noted cited that the average direct commercial real estate exposure among regional banks is 16.5% on loan books. CEO Greg Garrabrants also previously told Bloomberg that commercial real estate fears are overdone, and the risk is already reflected by Axos' stock price.
Persons: Axos, Hindenburg, , Hindenburg's, Greg Garrabrants, Donald Trump Organizations: Axos, Hindenburg Research, Service, Securities and Exchange, Bloomberg, Trump Locations: California, Florida
Australian Treasurer Jim Chalmers has ordered several China-linked investors to dispose of shares in rare earths miner Northern Minerals on national interest grounds, a spokesperson said on Monday. Northern Minerals is developing the Browns Range heavy rare earths project in Western Australia, at a time when the sector has become increasingly strategic for its uses in green energy and defence. Yuxiao Fund is the Singapore-registered private investment vehicle of Chinese national Wu Yuxiao, Reuters has previously reported. "The decision, based on advice from the Foreign Investment Review Board, is designed to protect our national interest and ensure compliance with our foreign investment framework." Chinese Foreign Minister Wang Yi said on a visit in March that he hoped Australia would ensure its market environment did not discriminate against Chinese business.
Persons: Jim Chalmers, Chalmers, Yuxiao, Wu Yuxiao, Adam Handley, Wu Tao, Ximei Liu, Xi Wang, Nick Curtis, Curtis, Premier Li Qiang, Wang Yi Organizations: Minerals, Northern Minerals, Browns, Sunday, Reuters, Investment, Board, Jinan Yuxiao Group, Stone Resources, Foreign Investment, China, Northern, Premier Locations: China, Western Australia, Yuxiao, Singapore, Jinan, Northern, Australia, Canberra, Beijing
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailANZ says China needs to do more to support domestic economic recoveryRaymond Yeung, chief economist at ANZ, says "simply relying on a strong manufacturing sector for certain products … might not be able to drive economic momentum."
Persons: Raymond Yeung Organizations: ANZ Locations: China
A sector of the stock market beloved by income investors could ride the wave of rising energy consumption over the long run, according to Wells Fargo. After 15 years of relatively flat power demand, Wells Fargo sees a compound annual growth rate of 2.6% through 2030 and 80% growth by 2050. The development bodes well for a group of utilities – and Wells Fargo called out some of its overweight-rated plays on the power trend for the long run. Wells called out the 10-year site plan NextEra subsidiary Florida Power & Light submitted to the state's public service commission. The stock's price "[reflects] a level of optimism," Wells Fargo analysts said, but "we think there is a case for further outperformance."
Persons: Neil Kalton, Wells Fargo, Wells, Duke, NextEra, it's Organizations: Duke Energy, Carolinas, Florida Power, Constellation Energy, Constellation, Microsoft, NRG Energy Locations: Wells Fargo, U.S, South Carolina, North Carolina, Virginia, Wells
Despite an interest rate cut expected this week, profits at a handful of major European banks will remain robust, according to Berenberg. The European Central Bank appears on course to cut interest rates this week, the first reduction since 2019, despite a higher-than-expected inflation print . However, European banks underperformed their global peers over the past decade as the European Central Bank kept interest rates below or near zero until 2022. The investment bank's analyst also pointed out that European banks are currently trading at a 20% discount to their long-run average valuation despite improvements in their balance sheets and returns. According to Berenberg, historical data shows that European banks only traded below current valuations for 6% of the time between 1988 and 2020.
Persons: Banks, Peter Richardson, Richardson, Berenberg Organizations: European Central Bank, Chartered, Barclays, Nordea Bank, UniCredit, HSBC —, Bank Locations: U.S
Signage for the Shanghai Stock Exchange in Pudong's Lujiazui Financial District in Shanghai, China, on Jan. 29, 2024. Asia-Pacific stock markets rose Monday ahead of a private survey on China's manufacturing sector. The Caixin manufacturing survey will follow official data from Friday that showed China's manufacturing sector unexpectedly contracted in May. Investors will also focus on India markets as exit polls over the weekend suggested Prime Minister Narendra Modi and his Bharatiya Janata Party-led alliance was set for a rare third consecutive term in power.
Persons: Narendra Modi Organizations: Shanghai Stock Exchange, Investors, Bharatiya Janata Party Locations: Lujiazui, Shanghai, China, Asia, Pacific, India
Investors may not have sufficiently accounted for the impact of stretched consumer finances on the discretionary sector. We'll review the dichotomy going on in the consumer discretionary sector and give a bearish trade on an outperforming stock once thought to be immune from some of the pressures. To some extent, the haves and have-nots divide explains the difference between the consumer discretionary stocks that have outperformed versus underperformed this year. Horton, YTD However, two industry groups within the consumer discretionary sector have not followed this pattern to the same degree. The trade: Chipotle The best-performing restaurant in the consumer discretionary sector so far this year is Chipotle Mexican Grill Inc. (CMG) up a market-crushing 36.8%.
Persons: Roland Garros, Ralph Lauren, Hermes, Versace, Prada, Calvin Klein, Tommy Hilfiger, Van Heusen, Horton, TOL, D.R, Tesla, Darden, YTD, Chipotle Organizations: Monaco, PVH Corp, IZOD, Carnival Corp, CCL, GM, Grill Inc, Darden, Starbucks Locations: Royal Caribbean, Horton
With equities ending May higher, Piper Sandler says everything is going right for a handful of stocks. M & T Bank Regional bank M & T made the Piper Sander list, with analyst Frank Schiraldi highlighting the stock's reversal of a long downward trend and its fresh 52-week high reached on May 15. The analyst added that Oracle has yet to fully capitalize on a growing artificial intelligence tailwind. Tractor Supply Shares of retailer Tractor Supply have surged more than 32% in 2024. "Tractor Supply Company possesses the attributes that the macro select model is targeting as prime for the current backdrop," the analyst said.
Persons: Piper Sandler, Piper Sander, Frank Schiraldi, Schiraldi, Brent Bracelin, Bracelin, Peter Keith, Keith Organizations: Piper, Federal, T Bank Regional, T Bank, Oracle, Oracle Corporation, ", Tractor Supply, Tractor Supply Company
Technology stocks have dominated the market for more than a decade. However, strong outperformance in tech may begin to spread to other sectors of the stock market, according to BofA. Here are four reasons tech stocks' dominance could end later this year, according to the bank. AdvertisementThe technology sector's dominance over the stock market could finally end later this year, according to Bank of America. Advertisement"As earnings accelerate outside of Tech, investors will likely become more price sensitive and seek out cheaper earnings growth," Subramanian said.
Persons: , Savita Subramanian, Subramanian, COVID Organizations: Service, Bank of America, Tech, Federal Reserve, Treasury, Bank of, Technology, Communication Services, Nvidia, hyperscalers Microsoft, Rockwell Automation, ROK Locations: Tech, China, Japan
Goldman Sachs reiterates Apple as buy Goldman said it's bullish heading into the company's Worldwide Developer's Conference on June 10. " Mizuho reiterates Meta as buy Mizuho said its sticking with its buy rating on the Meta. JPMorgan upgrades Krispy Kreme to overweight from neutral JPMorgan upgraded Krispy Kreme after a change in analyst coverage. Citi upgrades Best Buy to buy from sell Citi said in its double upgrade of the stock that it sees "upside potential." Goldman Sachs reiterates First Solar as buy Goldman raised its price target on the stock to $302 per share from $268.
Persons: Goldman Sachs, Goldman, it's, AAPL, Morgan Stanley, Tesla, We've, Jefferies, Mizuho, Wells, CAVA, Piper Sandler, Massimo, Piper, Clark, Melius, Guggenheim, Stifel, Bernstein, Airbnb, Roth, Marvell Organizations: : Bank of America, Nvidia, Bank of America, Apple, Conference, Meta, Citi, JPMorgan, JPMorgan downgrades, RBC, Kimberly, Broadcom, Guggenheim, Logistics, Auto Logistics, Inc, EBITDA, Qs, Marvell Locations: Computex, Taiwan, Siri, JPMorgan downgrades Cava
That's as the chip industry often undergoes 10 quarters of upside after experiencing a downcycle, a pattern that has just begun. However, chip stocks (SOX) change direction 6-9 months ahead of cycle inflection, so semis could potentially peak sometime around 2H25, or another year+ from now," Bank of America said. Bank of America sees major upside potential for both, holding a $1,500 and $1,680 price objective on each. "Industrial/auto chip stocks are less crowded and offer diversification away from AI, with easier compares going into CY25E," the bank said. AdvertisementBank of America holds a price objective of $890 and $650.
Persons: , That's, upcycle Organizations: of America, Nvidia, Broadcom, NXP Semiconductors, KLA Corporation, Service, Bank of America Locations: petering, 2H25, CY25E
Citi double upgraded Best Buy to buy from sell, and its new price target indicates upside of 18%. MRVL YTD mountain MRVL year to date — Lisa Kailai Han 6:16 a.m.: Bank of America sticks to Nvidia as a top pick with 36% upside Nvidia remains a top pick for Bank of America. He also maintained his price target of $1,500 and named Nvidia a top pick following CEO Jensen Huang's keynote speech at the Computex expo this past weekend. Arya's price target implies that Nvidia stock could rise 36.8% from here, adding to its whopping 121% year-to-date rally. — Lisa Kailai Han 5:46 a.m.: Citi double upgrades Best Buy to buy rating from sell There's a rosy outlook for Best Buy ahead, according to Citi.
Persons: Kimberly, Clark, Goldman Sachs, Toshiya Hari, Hari, Marvell's, Lisa Kailai Han, Vivek Arya, Jensen, Arya, — Lisa Kailai Han, Piper Sandler, Masimo, Jason Bednar, Bednar, MASI, Steven Zaccone, Nik Modi, Modi, Fred Imbert Organizations: CNBC, Citi, RBC, Bank of America, Nvidia, Marvell Technology Marvell Technology, Enterprise Networking, Marvell, Sound, Kimberly, Clark Investors, RBC Capital Markets Locations: Friday's, Kimberly, KMB
5 ways to maximize your vacation days
  + stars: | 2024-06-03 | by ( Greg Iacurci | ) www.cnbc.com   time to read: +4 min
D3sign | Moment | Getty Imageswatch nowAbout 21% of Americans who work in the private sector don't get paid vacation, and 20% do not get paid holidays, according to the BLS. Here's how you can maximize your vacation time, whether paid or unpaid — both for efficiency and overall quality, according to experts. 'Play a little Tetris'Grouping vacation days with other guaranteed time off helps extend your time away without sacrificing additional paid time off, experts said. Pace PTO in a 'measured' wayPacing vacation days throughout the year in a "measured" way helps prevent burnout, Saunders said. Workers who don't get many days off (perhaps 10 total, for example) may want to consider taking one longer trip that requires four or five PTO days and bundling their remaining days with paid holidays, Saunders said.
Persons: Saunders, There's, Sally French Organizations: BLS, Westend61, Getty, Workers, Pace, Saturday
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