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☆ Bank earnings look really bad this quarter. Here’s why
▼ + stars: | 2024-01-12 | by ( Nicole Goodkind | Krystal Hur | ) edition.cnn.com time to read: +2 min

JPMorgan’s profit was dragged lower by a one-time $2.9 billion charge the bank had to pay related to the crisis. Without that one-time payment, JPMorgan said its earnings would have come in closer to $3.97 per share, blowing estimates away. The bank reported fourth-quarter earnings of 35 cents per share, missing FactSet estimates of 53 cents per share. The bank said that without one-time fees, earnings for the quarter would have been about 70 cents per share. The bank reported an earnings loss of $1.16 per share for the fourth quarter, falling below earnings estimates of 11 cents per share, according to FactSet.

Persons: JPMorgan Chase, FactSet, ”, “ Organizations: New, New York CNN, JPMorgan, FactSet, Revenue, Profit, Federal Deposit Insurance Corporation, Valley Bank, Signature Bank, Bank of America, Citigroup, FDIC, Citi, CNN, Federal Deposit Insurance, FS, ” Locations: New York, Argentina, United States

☆ 5 charts that explain why stocks took off last year
▼ + stars: | 2024-01-12 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

Stocks ended on a high note last year, but were tested by the Federal Reserve’s interest rate hikes, banking turmoil, debt ceiling worries and war in the Middle East. Many early-year consensus predictions about what 2023 would bring — including a recession and several rate cuts — didn’t pan out. CNN spoke with five investors about the biggest lessons they learned and how they’ve helped shape their 2024 outlooks. Fundamentals have to start matteringThe S&P 500 index gained 24% last year despite an earnings recession, often defined as at least two straight quarters of corporate profit losses. Fourth-quarter earnings, which kick off on Friday with results from big banks, are expected to grow about 1% in the fourth quarter of 2023.

Persons: Stocks, they’ve, Taylor Swift, Beyoncé, David Kelly, ”, Kelly, Yung, Yu Ma, Don’t, George Cipolloni, Wall, Leslie Thompson, don’t, Thompson, she’s eyeing, FactSet, “, Amanda Agati Organizations: New, New York CNN —, CNN, Asset Management, Treasury, BMO Wealth Management, Penn Mutual Asset Management, Fed, Spectrum Wealth Management, Nvidia, Microsoft, Apple, Companies, PNC Asset Management Locations: New York

☆ ‘The Book of Clarence’ Review: Messiahs Wherever You Look
▼ + stars: | 2024-01-11 | by ( Alissa Wilkinson | ) www.nytimes.com time to read: +2 min

The subject of a Jesus movie is technically Jesus. Mel Gibson’s “The Passion of the Christ” paints a heavily Catholic, heavily bloody image of a suffering hero. “The Jesus Film,” produced for evangelistic purposes, takes its text entirely from the biblical account, attempting to render a literalist version of a savior. “The Book of Clarence” is something entirely different than these and dozens of other renderings. As with that series, “The Book of Clarence” is a highly ambitious attempt at relatability, with an added reverence for the old-school “Ben-Hur”-era Hollywood biblical epics.

Persons: Jesus —, —, Mel Gibson’s, Franco Zeffirelli’s “ Jesus of Nazareth ”, “, ”, William Wyler’s “ Ben, Hur, Jesus, Clarence ”, you’ve, “ Ben, Jeymes Samuel Organizations: Angel Studios, CW

☆ One in 78 audio streams was a Taylor Swift song in 2023, data shows
▼ + stars: | 2024-01-10 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN —Taylor Swift practically owned 2023. One in every 78 US audio streams was a Taylor Swift song in 2023, according to Luminate. The data company reported 1.2 trillion on-demand US audio streams in 2023, up 12.7% from the year prior. In 2023, Swift released two re-recorded albums: “1989 (Taylor’s Version)” and “Speak Now (Taylor’s Version).” The deluxe “Midnights (The Til Dawn Edition)” album came out in 2023, following the album’s original release the year prior. “Taylor Swift: The Eras Tour” had the highest-grossing concert film domestically for an opening weekend, according to AMC.

Persons: New York CNN — Taylor Swift, Taylor, Swift, ”, “ Taylor Swift, Pollstar, – CNN’s Krystal Hur, Bryan Mena, Danielle Wiener, Bronner Organizations: New, New York CNN, Spotify, Bloomberg, AMC, Office Mojo Locations: New York, Luminate

☆ Clean energy stocks have fallen out of favor. They face more challenges ahead
▼ + stars: | 2023-12-03 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

Plug Power shares have slipped 63% this year, Enphase Energy shares have plunged 60%, SolarEdge Technologies shares have declined 71% and NextEra Energy shares have slid 29%. Yet clean energy stocks haven’t recovered, despite hopes that an influx of US government spending on climate solutions would help revive the sector. The culprit behind clean energy stocks’ poor returns? Krull sees the current rut in clean energy stocks as a buying opportunity for investors. Clean energy stocks also aren’t the only way investors are putting their cash to work with a sustainability mindset.

Persons: Biden, Todd Jones, Jean Rosenbaum, Andrew Poreda, That’s, Peter Krull, Krull, ” Krull Organizations: New, New York CNN, Clean Energy, Enphase Energy, SolarEdge Technologies, NextEra Energy, Bank of America, Federal Reserve, Gratus Capital, Sage Advisory, Earth Equity Advisors, Nvidia Locations: New York, Paris

☆ Analysis: The 2023 stock rally is back on track
▼ + stars: | 2023-12-01 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —The US stock market has rebounded from its months-long rut. Stocks finished out their best month of the year on Thursday, breaking a three-month streak of declines for all the major indexes. “The only way I see a rally continuing is if the bond market behaves itself,” said Richard Steinberg, chief market strategist at The Colony Group. While those stocks have remained at the top of Wall Street’s scoreboard, the recent rally has encompassed a wider range of stocks. Long-neglected pockets of the stock market, from beaten-down financials to small-caps to cyclical stocks, have climbed higher in recent weeks.

Persons: Stocks, ”, Richard Steinberg, “, Santa Claus, Ned Davis, Anna Cooban, Elisabeth Buchwald, Nelson Peltz, Nelson Peltz’s, Bob Iger, ” Trian, Trian, Trian’s, Morgan Stanley, James Gorman, Sky Jeremy Darroch, ” Read Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Nasdaq, Dow Jones, Treasury, The Colony, Wall Street, Ned Davis Research, Organization of, Petroleum, Saudi Press Agency, Ministry of Energy, Saudi, United Emirates, Reuters, Disney, Management, Peltz, Sky Locations: New York, Santa, OPEC, Saudi Arabia, Vienna, Russia, Iraq, United, Kuwait, Kazakhstan, Algeria, Oman, Brazil, Brazil’s

☆ Nelson Peltz renews proxy fight against Disney
▼ + stars: | 2023-11-30 | by ( Krystal Hur | ) edition.cnn.com time to read: +3 min

New York CNN —Activist shareholder Nelson Peltz’s Trian Fund Management has launched a new proxy fight against Disney, just months after backing off from its earlier push after returned chief executive Bob Iger announced a vast cost-cutting plan for the media conglomerate. Trian declined to comment on how many seats it is seeking on Disney’s board, but said in the release that Disney has turned down its request for representation, including for Peltz. Trian’s reignition of its proxy fight comes a day after Disney revealed a shuffle to its board, with Morgan Stanley CEO James Gorman and former CEO of Sky Jeremy Darroch to join as new directors. Peltz in January launched a bid for a seat on Disney’s board after the company fired Bob Chapek in November 2022. We will be watching,” Peltz said on CNBC shortly after the conclusion of Iger’s TV interview in February, where the chief executive laid out his cost-cutting plan, addressed right-wing criticism of Disney and his decision to return to the company.

Persons: Nelson Peltz’s, Bob Iger, ” Trian, Trian, Trian’s, Morgan Stanley, James Gorman, Sky Jeremy Darroch, ” “, ” Disney, Peltz, Bob Chapek, Chapek, Iger’s, Iger, “, ” Peltz, Disney, ” Iger, I’ve, ” — CNN’s Oliver Darcy Organizations: New, New York CNN, Management, Disney, Peltz, Sky, Walt Disney Company, Disney Parks, CNBC Locations: New York, Florida

☆ How investing $100 in Berkshire Hathaway when Charlie Munger joined would now be worth nearly $400,000
▼ + stars: | 2023-11-30 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Munger, a billionaire investor and vice chairman of Buffett’s investment firm Berkshire Hathaway, died Tuesday morning at 99 years old. (Berkshire Hathaway shares, which didn’t have different classes then, ended 1977 at $138 a share.) Projections of Warren Buffett, Berkshire Hathaway Inc. chairman and chief executive officer, and Charles Munger, vice chairman of Berkshire Hathaway. Berkshire outperformed the S&P 500 during 31 of the 46 years Munger was at the company, according to Bespoke. The Christmas Price Index, now in its 40th year, is a tongue-in-cheek take on the Bureau of Labor Statistics’ Consumer Price Index and is meant to highlight market changes over time while educating consumers about the economy.

Persons: Charlie Munger, Warren Buffett, Berkshire Hathaway, Buffett, Munger, ” Munger, Charlie, Michael Broggie, –, “, Charles Munger, Daniel Acker, Buffett’s, – Munger, inflation’s, Alicia Wallace, Read, Jordan Valinsky, didn’t Organizations: CNN Business, Bell, New York CNN, Berkshire, Berkshire Hathaway, Investment, Harvard Law School, Berkshire Hathaway Inc, Bloomberg, Getty, Daily, PNC Financial Services, Bureau of Labor Statistics ’, Nevada . Rite, Rite Aid, Amazon, Walmart, Target, Costco Locations: New York, Munger, Omaha, Berkshire, California, Pennsylvania, Ohio , Virginia, Washington, Michigan , New Jersey , Oregon, Connecticut , Maryland, Nevada

☆ Ukraine captured a radar during a daring oil platform assault that it's now using to track Russian warships, commandos say
▼ + stars: | 2023-11-29 | by ( Chris Panella | ) www.businessinsider.com time to read: +3 min

Ukrainian commandos say they captured a Russian radar they're now using to track Moscow's warships. AdvertisementUkrainian special forces say they've captured quite a few "trophies" during their daring amphibious raids of Russian oil platforms, according to a new report. One such prize is a sophisticated long-range radar that Ukraine is now using to track Russian warships, giving them a useful tool in the Black Sea fight. Now, Ukraine says it's repurposing it to track Russian activity, Dmytro Linko, the commander of Stugna, told The War Zone. The amphibious raids are just one example of Ukraine's demonstrated ability to cause chaos far from the front lines.

Persons: —, they've, Ukraine's HUR, it's, Dmytro Linko, Stugna, Ukraine's Organizations: Service, Commandos, Directorate of Intelligence, Russian, Russian Armed Forces, Sea Locations: Russian, Ukrainian, Ukraine, Crimea

☆ Wife of Ukrainian Spy Chief Poisoned, Kyiv Says
▼ + stars: | 2023-11-28 | by ( Ian Lovett | ) www.wsj.com time to read: 1 min

Ukraine’s military-intelligence chief, Lt. Gen. Kyrylo Budanov, and his wife, Marianna Budanova, at a memorial ceremony in Kyiv in January. Photo: viacheslav ratynskyi/ReutersUkraine said the wife of one of its top military leaders had been poisoned, raising suspicion in Kyiv that she had been the victim of a high-profile assassination attempt. A spokesman for Ukraine’s powerful military-intelligence agency, known as HUR, said that Marianna Budanova , wife of HUR chief Lt. Gen. Kyrylo Budanov , had been poisoned with heavy metals. She is currently undergoing treatment, said the spokesman, Andriy Yusov , declining to give any more details.

Persons: Kyrylo Budanov, Marianna Budanova, viacheslav, HUR, Andriy Yusov Organizations: Reuters Locations: Kyiv, Reuters Ukraine

☆ Charlie Munger death: Warren Buffett’s business partner in Berkshire Hathaway passes away, aged 99
▼ + stars: | 2023-11-28 | by ( Paul R. La Monica | Krystal Hur | ) edition.cnn.com time to read: +3 min

New York CNN —Billionaire investor Charlie Munger, the long-time friend and business partner of Warren Buffett, has died. Berkshire Hathaway, the investment firm where Munger served as vice chairman, said in a press release that Munger passed “peacefully” on Tuesday morning in a California hospital. Charles Thomas Munger, known by his nickname, “Charlie,” was born on January 1, 1924, in Omaha, Nebraska. Buffett told CNBC in 2021 that after their first meeting, he knew “I’m not going to find another guy like this …. “If people weren’t so often wrong, we wouldn’t be so rich,” Munger said during a 2015 Berkshire Hathaway annual shareholders meeting.

Persons: Charlie Munger, Warren Buffett, Berkshire Hathaway, Munger, Charles Thomas Munger, “ Charlie, ”, Wall, Munger’s, “ Berkshire Hathaway, Charlie, Mohamed El, ” Whitney Tilson, Buffett, “, ” Munger, “ I’m, CNN Munger, — CNN’s Nicole Goodkind Organizations: New, New York CNN, Berkshire, US Army, University of Michigan, Harvard Law School, Berkshire Hathaway, Erian, Allianz, CNN, Forbes, CNBC, Xerox, Daily Journal Locations: New York, “, ”, California, Omaha , Nebraska, Southern California, Japan, Omaha, Berkshire, Munger, Los Angeles

☆ Microsoft stock hits all-time high after hiring former OpenAI CEO Sam Altman
▼ + stars: | 2023-11-20 | by ( Krystal Hur | ) edition.cnn.com time to read: +1 min

New York CNN —Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg. Shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup. Microsoft is the artificial intelligence firm’s biggest stakeholder, with a $13 billion investment in the company. Emmett Shear, former CEO of Amazon-owned streaming service Twitch, will replace OpenAI chief technology officer Mira Murati as interim chief executive. Dan Ives, tech analyst at Wedbush Securities, reiterated his $425 price target for Microsoft’s stock following Altman’s and Brockman’s hires.

Persons: Sam Altman, Greg Brockman, OpenAI, Emmett Shear, Mira Murati, Wall Street’s, Dan Ives, Brockman’s, Altman, Brockman, Ives Organizations: New, New York CNN, Microsoft, OpenAI, Amazon, Wedbush Securities Locations: New York

☆ Homebuilder stocks could get another boost from rate hikes ending
▼ + stars: | 2023-11-17 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —For over a year, the red-hot housing market has been at the mercy of the Federal Reserve’s rate hikes, which have driven mortgage rates to sky-high levels. Mortgage rates have hovered above 7% since August, according to Freddie Mac data. Both those factors have helped create a scorching-hot housing market and a boom in homebuilder stocks, as Americans turned to building as a buying alternative. Moderating bond yields could change the narrative for the housing market. Tight supply and elevated mortgage rates this year made home purchases the least affordable they’ve been since 1984.

Persons: Bell, Freddie Mac, Toll, DR Horton, Lennar, Price, Steve Sosnick, ”, John Petrofsky, Chris Isidore, Danielle Wiener, Bronner, haven’t, Clare Duffy, Donie, Meta Organizations: CNN Business, Bell, New, New York CNN, Homeowners, DR, Federal, Treasury, Interactive, National Association of Home Builders, FBB Capital Partners, Starbucks, United Auto Workers, SAG, Writers Guild of America, Starbucks Workers United, Facebook, Street, Washington Post Locations: New York, Wells Fargo, Buffalo , New York, United States, Brazil, Israel, Italy

☆ Biden Expected to Face Harsh Criticism in Classified-Document Probe
▼ + stars: | 2023-11-16 | by ( Aruna Viswanatha | Sadie Gurman | ) www.wsj.com time to read: 1 min

The Justice Department is investigating how classified documents got to the home of former President Trump and the home and personal office of President Biden. Here’s how documents are supposed to be handled during a transition. Illustration: Adele MorganThe prosecutor investigating why classified documents ended up at President Biden’s home and former office is preparing a report that is expected to be sharply critical of how he and his longtime aides handled the material, but the probe isn’t likely to result in a criminal case, according to people familiar with the matter. Since his appointment in January, Special Counsel Robert Hur has interviewed roughly 100 of Biden’s aides, colleagues and family members, including his son, Hunter, culminating in a two-day interview with the president last month.

Persons: Trump, Biden, Here’s, Adele Morgan, Biden’s, Robert Hur, Hunter

☆ The Fed is probably done hiking rates. Cuts are still far off
▼ + stars: | 2023-11-16 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —The Federal Reserve likely won’t raise interest rates again during its current tightening cycle, thanks to a cooldown in inflation. Interest rates are at a 22-year high after the Fed last March began its punishing pace of hikes in a bid to tame wayward inflation. Traders are now virtually certain that the Fed will hold rates steady at its December policy meeting and won’t hike again this cycle, according to the CME FedWatch Tool. Of course, one month’s data doth not a trend make. Traders are anticipating rate cuts won’t start before next March, and see May as more likely, according to the CME FedWatch Tool.

Persons: ”, Jeffrey Roach, Price, Sharp, Jerome Powell, Yung, Yu Ma, Joseph Brusuelas, Sephora, Parija Kavilanz, Read, Rishi Sunak, Hanna Ziady, “, ” Sunak, ” Read Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Fed, Dow Jones, Nasdaq, “, LPL, Bureau of Labor Statistics, CPI, Research, BMO Wealth Management, Traders, Investors, RSM US, CNN, National Statistics Locations: New York

☆ Dow soars over 500 points as new data shows inflation continues to cool
▼ + stars: | 2023-11-14 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

New York CNN —Stocks climbed on Tuesday as Wall Street cheered the inflation cooldown in the latest economic data for October. The Consumer Price Index rose 3.2% for the 12 months ended in October. That’s down from 3.7% the prior month, according to fresh data from the Bureau of Labor Statistics. That brings the annual increase to 4%, the lowest annual increase since September 2021. The October Producer Price index, retail sales and building permits and housing starts data are also slated for release this week.

Persons: Stocks, That’s, Price, “, ”, Brad Conger, Callaghan Organizations: New, New York CNN, Dow, Nasdaq, Bureau of Labor Statistics, CPI, Treasury, Federal Reserve, Traders, Co, “, Moody’s, Home Depot, Wall Locations: New York

☆ Investors see opportunities in these beaten-down areas of the stock market
▼ + stars: | 2023-11-10 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Cash is king right now, but investors aren’t casting stocks away completely. Yields jumped on Thursday, after Fed Chair Jerome Powell said in a speech that he’s unsure whether the central bank has adequately tightened monetary policy. Ham says he sees opportunities in dividend growth stocks, whose declines this year mean they’re priced at attractive levels. Investors also shouldn’t overlook small-cap stocks, says Matt Stucky, chief portfolio manager of equities at Northwestern Mutual Wealth Management Company. However, investors are bullish about another pause in rate hikes next month, according to fed funds rate futures.

Persons: Cash, That’s, Jerome Powell, ”, Emerson Ham III, Ham, Dave Sekera, he’s, They’re, hasn’t, Matt Stucky, Stucky, It’s, “, ” Powell, Bryan Mena, Powell, Trevor, Elon Musk, Clare Duffy, Musk, Read Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Investment Company Institute, Treasury, Advisors, Big Tech, Morningstar Research Services, Utilities, Northwestern Mutual Wealth Management Company, International Monetary Fund, Economic, of New, LinkedIn, Facebook, Center, Anti, Defamation League, ADL Locations: New York, Washington ,, of New York

☆ Climate protesters interrupt speech by Fed Chair Powell — for the second time in a month
▼ + stars: | 2023-11-09 | by ( Manav Tanneeru | Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Federal Reserve Chair Jerome Powell is leaving the door open for additional interest rate hikes to defeat inflation, he said Thursday in prepared remarks. However, investors are bullish about another pause in rate hikes next month, according to fed funds rate futures. As Powell began to deliver his speech, he was interrupted by climate protesters who made their way onto the stage. That could potentially be a headache for the Fed, since strong demand could be maintaining some upward pressure on prices. Richmond Fed President Thomas Barkin hinted that the Fed could forgo additional action because the economy perhaps hasn’t felt the full impact of the Fed’s previous 11 rate hikes just yet.

Persons: Jerome Powell, “, ” Powell, Powell, Stocks, Dow, Kathleen O’Neill Paese, Thomas Barkin, hasn’t, ” Barkin, — CNN’s Krystal Hur Organizations: DC CNN — Federal, International Monetary Fund, Economic, of New, Nasdaq, Treasury, Interim Kansas, Richmond Fed Locations: Washington, Washington ,, of New York, Jeffersonville , Indiana, New Orleans

☆ Analysis: The US presidential election is next year. Here’s what that could mean for stocks
▼ + stars: | 2023-11-09 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —The US presidential election is less than a year away. Wall Street has a laundry list of uncertainties that it worries could threaten the current stock rally, including the upcoming presidential election. But history shows that stocks typically gain during the fourth year of presidential terms. The S&P 500 has gained 6.2% on average during the fourth year of presidential terms since 1932, according to Yardeni Research. That’s below the 13.5% gain the index has averaged during the third year of presidential terms since 1931.

Persons: ’, There’s, Darrell Crate, ”, Goldman Sachs, Joe Abbott, Abbott, Loretta Mester, Bryan Mena, Elisabeth Buchwald, Hawkish, Mester, Heidi Gartland, “, ” Gartland, Read, Niron, Peter Valdes, Niron Magnetics, Jonathan Rowntree Organizations: CNN Business, Bell, New York CNN, Federal Reserve, The New York Fed, Management, Investors, Research, Yardeni Research, “, CNN, Cleveland Fed, Reserve Bank, Cleveland, Regional, Bank, General Motors, China General Motors Locations: New York, East, Russia, Ukraine, Wisconsin, China, Minnesota

☆ S&P 500 and Nasdaq Composite notch longest streak of gains in two years
▼ + stars: | 2023-11-07 | by ( Manav Tanneeru | Krystal Hur | ) edition.cnn.com time to read: +2 min

The S&P 500 index climbed for the seventh day in a row, its longest streak of gains since November 2021, when the benchmark index rose for eight straight sessions. The S&P 500 gained 0.3% and the Nasdaq Composite added 0.9%. That’s helped stocks rally this month, after the S&P 500 in October logged its longest streak of monthly declines since 2020. The 10-year Treasury yield fell to 4.57% on Tuesday, compared to Monday’s close of 4.66%. Amazon shares gained 2.1%, Meta Platforms increased 1% and Apple climbed 1.4%.

Persons: Austan Goolsbee, That’s, Datadog, Jerome Powell Organizations: New, New York CNN, Wall, Nasdaq, Dow, Federal Reserve, Chicago Fed, CNBC, Treasury, Tech, Microsoft, Apple, West Texas, Halliburton, Chevron, ExxonMobil Locations: New York, China

☆ Berkshire Hathaway posts 40% surge in operating earnings and record cash
▼ + stars: | 2023-11-04 | by ( Krystal Hur | ) edition.cnn.com time to read: +3 min

New York CNN —Warren Buffett’s Berkshire Hathaway on Saturday reported a surge in third-quarter operating earnings and record-high cash pile of $157 billion in the period. Berkshire reported a net loss of $12.8 billion, compared to a loss of $2.8 billion during the same period last year. Berkshire bought back about $1.1 billion in stock during the third quarter, bringing the nine-month total to approximately $7 billion in stock repurchases so far this year. “It was like having God just opening a chest and just pouring money into it,” Charlie Munger, vice chair of Berkshire Hathaway, said of the investments in an interview with the Acquired podcast released in October. Berkshire Hathaway Class A shares are up 13.9% for the year as of Friday’s close, underperforming the benchmark S&P 500.

Persons: New York CNN — Warren, Berkshire Hathaway, Buffett, ” Buffett, Charlie Munger Organizations: New, New York CNN, Berkshire, Fitch, AAA, CNBC, Treasury, Federal Reserve, Berkshire Hathaway Locations: New York, Berkshire, Omaha , Nebraska

☆ Analysis: November is typically the best month for stocks. So far, it’s looking promising
▼ + stars: | 2023-11-03 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

The S&P 500 on Thursday climbed 1.9% to log its best one-day gain since April. The S&P 500 has gained an average 6.7% from November to April since 1990, according to CFRA data. “We remain comfortable with our long-standing 3,900 year-end target for the S&P 500,” he wrote in a note on October 29. The S&P 500 closed Thursday at about 4,318. “The acquisition of Comcast’s stake in Hulu at fair market value will further Disney’s streaming objectives,” the company said in a short statement.

Persons: Jerome Powell’s, ”, George Smith, Mike Wilson, Morgan Stanley, Liam Reilly, Oliver Darcy, “, Read, Hanna Ziady, Andrew Bailey Organizations: CNN Business, Bell, New York CNN, Investors, Dow Jones, Dow, Federal, Treasury, LPL, Disney, Hulu Disney, Comcast, Bank of England, of England, ” Bank of England Locations: New York, Hulu, Israel

☆ Premarket stocks: Small stocks are sinking, showing Wall Street is still anxious about the US economy
▼ + stars: | 2023-11-02 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

But declines in small-cap stocks suggest that worries about the US economy’s health still linger on Wall Street. The Russell 2000 index, which tracks the performance of US small-cap stocks, last Friday touched its lowest level since November 2020 after turning negative for the year earlier in October. Small-cap stocks tend to be an indicator of economic strength, because they generate most of their revenue domestically. Still, Mahajan says that small-cap stocks could be set up for a rally, especially if the economy sees renewed growth next year. Turkey prices drop as Thanksgiving planning ramps upSomething wild has happened with turkey prices that’s going to make the cost of cooking the Thanksgiving meal more palatable to families on a tight budget, reports my colleague Parija Kavilanz.

Persons: Russell, Jim Polk, ”, Mona Mahajan, Edward Jones, Jerome Powell, Mahajan, Polk, Bryan Mena, Parija Kavilanz, “ There’s, Michael Swanson, Swanson, Wells Fargo’s, Read Organizations: CNN Business, Bell, New York CNN, Federal, Big Tech, Homestead Funds, Fed, Penn Capital Management, Federal Reserve, Wells, Food Institute Locations: New York, small, Israel, Turkey

☆ Putin fake death rumors are being spread by the Kremlin to gauge Russian reactions, Ukraine intelligence says
▼ + stars: | 2023-11-02 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +2 min

The Kremlin is using them to gauge Russian reactions, intelligence spokesperson Andriy Yusov said. "It's an internal story that is intended for an internal Russian audience," Yusov told NV Radio. AdvertisementAdvertisementThe Kremlin is using fake rumors about President Vladimir Putin's death to gauge Russian reactions, according to Ukrainian military intelligence. "It's an internal story that is intended for an internal Russian audience," Yusov told NV Radio, per Ukrainska Prava. Last week's claims prompted Putin's spokesperson, Dmitry Peskov, to dismiss speculation about Putin's health on two occasions.

Persons: Andriy Yusov, Yusov, —, Vladimir Putin's, Putin, HUR, Ukrainska, d'état, Putin's, Dmitry Peskov, Peskov Organizations: Radio, Service, Kremlin, Defense, Main Intelligence Directorate, Ukrainian NV, Ukrainska Pravda, SVR Locations: Ukraine, Kremlin, Russian

Over the span of about a year and a half, the Fed aggressively raised interest rates to their highest level in 22 years. The Fed also manages a multitrillion-dollar balance sheet that includes government securities. Here's how that works: The Fed holds assets like Treasuries, mortgage-backed securities, and loans extended to banks. For over a year now, the Fed has been steadily shrinking its balance sheet to help cool the economy. That reduction is known as “quantitative tightening” or a “balance sheet runoff.”

Persons: that’s, ” Organizations: Congress, Fed Locations: Treasuries

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