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☆ The best EV plays are now in China. Analysts are raising price targets on this stock
▼ + stars: | 2024-03-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

With Apple reportedly out of the electric car game and Tesla losing market share in some Chinese cities, the best EV stock plays are arguably now all based in China. Li Auto 's market share waned, and Morgan Stanley analysts are watching whether there will be a boost from new models. "Following our upgrade earlier this month, Li Auto delivered impressive earnings/guidance, further cementing its position as a top-tier China OEM," Deutsche Bank analysts said in a late February report. Li Auto management said they expect gross margin to fluctuate between 10% and 25%, but generally remain above 20%. But even with its premium pricing the company isn't immune from intense competition in China's electric car market.

Persons: Morgan Stanley, Nio, BYD, Li Auto, Li, Li Auto's, Weibing Lu, Xi Jinping, — CNBC's Michael Bloom Organizations: Apple, Friday, China, Deutsche Bank, Li Auto, Bank of America Securities, Huawei, Forseven, CYVN Holdings Locations: China, Hong Kong, Shanghai, U.S, Europe, Japan, East, Central Asia, Abu Dhabi, Norway

☆ Viking Therapeutics emerges as a strong weight loss drug player — or takeover target
▼ + stars: | 2024-03-03 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +8 min

In this article VKTX Follow your favorite stocks CREATE FREE ACCOUNTCr | Istock | Getty ImagesBiotech company Viking Therapeutics has emerged as a strong potential entrant — or takeover target — in the budding weight loss drug market. Their treatments sparked the weight loss drug industry gold rush over the past year despite their hefty price tags and barriers to insurance coverage. It's too early to say whether Viking's drug could have an edge over existing or developing weight loss treatments. The pharmaceutical giant could also launch a slate of other weight loss treatments over the next few years that may have advantages over Zepbound, whether they offer more weight loss or convenience. That could give Viking the commercial and manufacturing capabilities needed to compete in the weight loss drug market.

Persons: Eli Lilly, Eli Lilly's Zepbound, Viking, Goldman Sachs, Eli Lilly’s, Brendan Mcdermid, GLP, Brian Lian, William Blair, Andy Hsieh, Hsieh, Eli Lilly's, Jefferies, Akash Tewari, doesn't, Mike Segar, Lian, William Blair's Hsieh, Oppenheimer, Jay Olson Organizations: Getty Images Biotech, Viking Therapeutics, Novo Nordisk, Reuters, Viking, Novo, U.S . Food, Drug Administration, Company, Deutsche Bank, CNBC Locations: New York City, Branchburg , New Jersey

New York CNN —Donald Trump is facing a cash crunch as deadlines are quickly approaching to find over half a billion dollars he owes in judgments. The scramble over the past week reveals challenges Trump is facing in raising the combined judgments totaling $537 million. It’s unclear how much cash Trump has on hand. Trump offered to post a $100 million bond to cover the New York attorney general’s case, but the appeals court judge rejected it. The sheer size of the judgments raises practical questions about how the Trump could feasibly come up with the cash.

Persons: Donald Trump, Trump’s, Jean Carroll, Trump, hawking, Chip Somodevilla, ”, Adam Kaufmann, Carroll, —, general’s, feasibly, –, CNN’s, Greg Garrabrants, ” Kaufmann, Jeremy Saland, “, Barbara Jones, Jones, David Shick, Shick Organizations: New, New York CNN, Trump, White House, Vornado, Deutsche Bank, Signature Bank, Capitol, Axos Bank, Lawyers, Trump Organization, Fidelity Association of America, ProSure, Underwriters Locations: New York, York, California

☆ Deutsche Bank to file liquidation suit against Chinese developer Shimao, Reuters reports
▼ + stars: | 2024-03-01 | by ( ) www.cnbc.com time to read: +2 min

Deutsche Bank is preparing a liquidation lawsuit in Hong Kong against Chinese developer Shimao Group, two sources said, in a rare move by a foreign firm that comes amid rising credit defaults and China's deepening property sector crisis. Deutsche Bank is preparing a liquidation lawsuit in Hong Kong against Chinese developer Shimao Group, two sources said, in a rare move by a foreign firm that comes amid rising credit defaults and China's deepening property sector crisis. After that missed payment, its entire $11.7 billion worth of offshore debt is deemed to be in default. Deutsche Bank declined to comment. Reuters could not determine the amount of exposure Deutsche Bank had to the developer.

Persons: Shimao Organizations: Deutsche Bank, Shimao, China Evergrande Group Locations: Hong Kong, Shanghai, China

☆ Apollo Global says the Fed won't cut rates this year because inflation is moving higher again
▼ + stars: | 2024-03-01 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Some measures of inflation are trending higher, Apollo's Torsten Slok said in a note to clients. The upshot is, "the Fed will not cut rates this year and rates are going to stay higher for longer." Slok cited a host of data showing underlying measures of trend inflation moving higher or set to do so, mentioning the Fed-preferred "supercore" basket of goods and services. He also noted evidence of higher prices paid in both manufacturing and the service data as further evidence of storm clouds gathering. In this environment, Slok said the Fed will need most of the year to continue batting down inflation.

Persons: Apollo's Torsten Slok, Slok Organizations: Federal Reserve, Apollo Global Management, Deutsche Bank Locations: U.S

☆ Europe is having its worst earnings season since the onset of Covid — with little hope of a quick turnaround
▼ + stars: | 2024-03-01 | by ( Silvia Amaro | ) www.cnbc.com time to read: +4 min

As of Feb. 29 with 313 companies having reported, 50.2% posted a beat, according to a CNBC analysis of FactSet data. This was the smallest percentage of beats — thus the worst earnings season — since the first quarter of 2020 when the pandemic first hit European firms. Share buyback bonanzaSharon Bell, a senior European strategist at Goldman Sachs, told CNBC that she had noticed a new trend for European corporates during this earnings season. "What you have seen is a lot of companies announcing buybacks," she told CNBC's "Squawk Box Europe" Tuesday. "It is absolutely huge, you've never really seen this before in 20, 30 years, European companies pay dividends, they don't do buybacks," she said.

Persons: —, Edward Stanford, Philippe Ferreira, Kepler Cheuvreux, Sharon Bell, Goldman Sachs, CNBC's, you've, Bell, Ferreira Organizations: CNBC, HSBC, L'Oreal, European Central Bank, Shell, Deutsche Bank, Novo Nordisk, UBS Locations: Triomphe, France, Europe, China, Ukraine, European

☆ With the Nasdaq at record highs, these are the benchmark's most beloved stocks that are expected to rally
▼ + stars: | 2024-03-01 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Even as the Nasdaq Composite is surging to new highs, investors can still find stocks within the index that have room to run. These stocks have a consensus buy rating from analysts and have an upside of 20% or more from their average price targets. Analysts have a consensus buy rating on both stocks, and think AstraZeneca could rally more than 26%, while Biogen could jump roughly 40%. Bank of America last month reiterated its buy rating on Baker Hughes. Twenty-two of the 27 analysts polled by LSEG rate the stock a buy or strong buy, and the average price target suggests 35% upside from here.

Persons: Biogen, Wells, Baker Hughes, Saurabh Pant Organizations: Nasdaq, CNBC, Stock, AstraZeneca, Warner Bros, Biotechnology, Biogen, Deutsche Bank, Analysts, Moderna, HSBC, Discovery, Bank of America, CCS, " Bank of America

☆ Nasdaq and S&P 500 soar to record highs as markets appear unsinkable
▼ + stars: | 2024-02-29 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN —The tech-heavy Nasdaq composite index and S&P 500 broke records Thursday afternoon. The S&P 500, meanwhile, gained 0.5% to close at a new high of 5,096.27. The Dow Jones Industrial Average ended the day slightly higher, up 47 points, or 0.1%. The S&P 500 was up 5.2% for the month, the Dow was 2.2% higher and the Nasdaq gained 6.1%. All S&P 500 subsectors ended the month in positive territory.

Persons: Austan Goolsbee, ”, “, subsectors, Bitcoin, bitcoin Organizations: New, New York CNN, Nasdaq, Federal Reserve, Dow Jones, Commerce Department, Fed, Investors, Chicago Fed, Council, Foreign Relations, Dow, Deutsche Bank, Nvidia Locations: New York

☆ Something unusual is happening with the S&P 500, and it could mean more gains ahead
▼ + stars: | 2024-02-29 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

The S & P 500 is about to do something unusual that has typically been followed by strong gains ahead. There have been only been 28 instances in which the S & P 500 has risen over the first two months of the year. The S & P 500 hit record highs in recent weeks, prompting questions about whether it can continue advancing or is due for a correction. With last week's advance, the S & P 500 officially finished 15 of the last 17 completed trading weeks in the green. The S & P 500 went on to finish that year up by a whopping 27.3%.

Persons: what's, Henry Allen, Allen, Madonna Organizations: Carson Group, Deutsche Bank, Bretton Locations: U.S

☆ Here are Thursday's biggest analyst calls: Tesla, Apple, Microsoft, Delta, Disney, Snowflake, Okta, Salesforce & more
▼ + stars: | 2024-02-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +10 min

Goldman Sachs reiterates Salesforce as buy Goldman said it's standing by its buy rating following the company's robust earnings report on Wednesday. "Multiple high-profile catalysts should double revs by FY28 & support an Outperform rating with a $54 PT." "We initiate coverage of Gates Industrial (GTES) with a Buy rating and $21 price target. The more aggressive stance follows a near week long sell-off in COLD shares following 4Q results and initial 2024 guidance." Goldman Sachs reiterates Microsoft as buy Goldman said it's standing by its buy rating after a meeting with Microsoft investor relations.

Persons: Jefferies, Roth, Roth MKM, Morgan Stanley downgrades Snowflake, Morgan Stanley, Goldman Sachs, Salesforce, Goldman, it's, TD Cowen downgrades Macy's, Telsey, TD Cowen, Wells, Needham, " Jefferies, Tesla, Coupang, Baird, Cantor Fitzgerald, Cantor, Gates, Piper Sandler, Piper, Raymond James, William Blair, Gordon Haskett downgrades, Haskett, Frank Slootman's Organizations: Jefferies, Barrick Gold, NEM, UBS, Apple, Mar, Bitdeer Technologies, BTC, Citi, United Airlines, Delta, Delta Air Lines Inc, DAL, Deere & Company, American Airlines Citi, Catalyst Watch, Reliance, Star India, JV, UBS downgrades Republic Services, Downside, RBC, Xenia Hotels, Resorts, Deutsche Bank, Deutsche, Products, Gates, NTR, LXU, UW, Bank of America, underperform Bank of America, Realty Trust, Fidelity, Korn, Microsoft, Macquarie Locations: U.S, China, American's, DIS's, Xenia, Federal, Korea

☆ These big Nasdaq stocks are trading at bargain-basement valuations
▼ + stars: | 2024-02-29 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Equities may be trading near their record highs, but there are still opportunities to buy some stocks at bargain-basement prices. To meet this criteria, the stocks had to have a trailing 12 month price-to-earnings ratio less than their five-year average. Additionally, the names also had to have a forward price-to-earnings ratio for the next 12 months that was below the Nasdaq-100's current 17.6. Here are the names that made the cut: PayPal , which has a forward price-to-earnings ratio of 12, was one name that made the list. Also on the list of stocks was pharmaceutical maker AstraZeneca , which has a forward price-to-earnings ratio of 13.7.

Persons: Dr Pepper, Kraft Heinz, —, Fred Imbert Organizations: Nasdaq, Dow Jones, CNBC Pro, PayPal, Research, Argus, AstraZeneca, Deutsche Bank, Cisco, Diamondback Energy

☆ First Solar jumps on strong quarter, record backlog in rare bright spot for beaten-down renewable sector
▼ + stars: | 2024-02-28 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

First Solar shares jumped Wednesday after reporting another solid quarter, with the company booked solid through 2026 and an order backlog that stretches into the end of the decade. First Solar is one of the few companies that has weathered the sharp downturn in the solar sector. JPMorgan has a price target of $226 for the stock, implying about 56% upside from Tuesday's close. Goldman Sachs lowered its price target for First Solar to $265 from $275 prior despite the company's strong quarter. The investment bank said solar module oversupply and potential changes to U.S. tax credits are key risks for First Solar moving forward.

Persons: Morgan Stanley, Andrew Percoco, Mark Strouse, Corinne Blanchard, Blanchard, Alexander Bradley, Mark Widmar, Goldman Sachs Organizations: Solar, JPMorgan, Deutsche Bank, Deutsche Locations: Perrysburg , Ohio, India, Europe

☆ Deutsche Bank's 3-day-a-week return-to-office policy has been met with fierce criticism by staff who say there isn't enough space for everyone
▼ + stars: | 2024-02-28 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +4 min

Deutsche Bank staff have criticized the company's new return-to-office policies. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "There's enormous resistance among staff," Stephan Szukalski, the head of the labor union DBV, which represents Deutsche Bank staff, told Bloomberg via email. Szukalski, who is also part of the bank's supervisory board, said there isn't enough office space and that staff are already complaining about bottlenecks. The spokesperson told BI: "The bank remains committed to our hybrid working model, which has been received extremely positively by staff.

Persons: —, Christian, Rebecca Short, Stephan Szukalski, Szukalski, EY, Dan Schawbel, Nicholas Bloom Organizations: Deutsche Bank, Staff, Service, Bloomberg, Business, DBV, Google, General Motors, SAP, Stanford Locations: Germany

☆ Norfolk Southern proxy fight draws heavyweight politicians and regulatory scrutiny a year after derailment
▼ + stars: | 2024-02-27 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +12 min

Norfolk Southern' has underperformed both its peers and the broader market over the last year. Norfolk Southern responded on Monday, rejecting that slate and announcing it would nominate former Amtrak CEO Richard Anderson and former U.S. For Ancora, which has a successful track record as an activist investor, the proxy fight at Norfolk Southern would be its largest ever. EdgePoint controlled 3.4 million Norfolk Southern shares as of Dec. 31, or about 1.5% of shares outstanding. Norfolk Southern has yet to set a date for the annual shareholder meeting.

Persons: Alan Shaw, Norfolk Southern Scott Mlyn, John Kasich, Donald Trump, Ancora, Shaw, Jim Barber, Jamie Boychuk, Richard Anderson, North Dakota Heidi Heitkamp, Heitkamp, Anderson, Frank Blake, Matt Freed, Joe Biden, Biden, Trump, it's, there's, Ancora's, Hunter Harrison, Norfolk Southern, Martin Oberman, Oberman, Amit Bose, Bose, Jim Chadwick, Chadwick, Ancora beneficially, Barber, Boychuk, Harrison, Mandel Ngan, Ancora's Chadwick, Amy Miles, Miles, Claude Mongeau, CNBC's Leslie Picker, Heidi Heitkamp Organizations: Norfolk Southern, CNBC, Norfolk, Ancora Advisors, EdgePoint Investment Group, Republican, Amtrak, Delta Airlines, Cargill, Home Depot, U.S, Energy, Workers, East, Trump, Biden, Southern, PSR, Federal Railroad Administration, Surface Transportation, Federal, UPS, Teamsters, Canadian, . Norfolk Southern, CSX, Deutsche Bank, AFP, Getty Locations: Norfolk Southern, East Palestine , Ohio, Ohio, Norfolk, North Dakota, Medtronic, East Palestine, Cleveland, Ancora

☆ Hims & Hers soars 32% on rapid growth in mental health, weight loss and dermatology treatments
▼ + stars: | 2024-02-27 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

The New York Stock Exchange with a Hims & Hers Health, Inc banner is pictured as a person runs past in the Manhattan borough of New York City, New York, January 21, 2021. Hims & Hers is an online platform where patients can meet with providers and get personalized support for skincare, mental health, sexual health, weight loss and hair care. For the first quarter, Hims & Hers expects revenue growth of at least 40% from a year earlier to between $267 and $272 million. He said newer specialties like weight loss, mental health and Hers Dermatology are seeing increased adoption, and could each deliver more than $100 million in revenue in 2025. WATCH: Ro CEO on telehealth and the impact of weight loss drugs

Persons: They're, Andrew Dudum, Dudum, Jefferies Organizations: New York Stock Exchange, Revenue, Jefferies, Deutsche Bank Locations: Manhattan, New York City , New York

☆ Here are Tuesday's biggest analyst calls: Nvidia, Arm, Tesla, Rivian, Netflix, Micron, Roku, Seagate & more
▼ + stars: | 2024-02-27 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Citi reiterates Snowflake as a top pick Citi said Snowflake remains a top pick at the firm. Citi reiterates Micron as buy Citi said concerns about the stock underperformance is overdone and investors should buy the dip in top pick Micron. "We reiterate our Buy rating on Micron and maintain our price target of $95.00, above its historical average given the DRAM upturn and continued upside." "We are initiating coverage of Duolingo with a Buy rating and $222 price target (12x 2025 revenues)." Citi reiterates Nvidia as a top pick Citi said it's staying long shares of Nvidia.

Persons: Morgan Stanley, Rivian, Snowflake, Berenberg, Eli Lilly, Unilever, Edward Jones, Goldman Sachs, Piper Sandler, Piper, Datadog, Yuka Broderick, Janney, Argus, Wells, VZIO, MGY, Bernstein, it's, Evercore, Davidson Organizations: Citi, US pharma, Staples, Fractyl Health, Investor Relations, Strategic Finance, American Eagle Citi, Watch, Micron, UBS, Netflix, SUN, Kroger, Industry, Deutsche Bank, Deutsche, Seaport, Bank of America, Gas, Semiconductors, Nvidia, AMD, Seagate, Bank of, underperform Bank of America, JPMorgan, Comerica, CMA

☆ Premarket stocks: This rally is nearly unprecedented. Can it last?
▼ + stars: | 2024-02-27 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Just last week the S&P 500 hit a new all-time high and notched its best showing in a year. But this nearly unprecedented surge in the markets is sparking some concern over what’s driving the rally and whether it can continue. The S&P 500 and Dow last week each reached record levels after blockbuster earnings from the chipmaker set off a broad market rally. The S&P 500 is up more than 6% for the year, but when you equally weigh all of the stocks in the index, it’s up just 2.5%. Last year, the S&P 500 rose by 24.2%, but the equally-weighted index was up by just 11.6%.

Persons: Sam Stovall, Tesla, Jamie Dimon, ” Dimon, CNBC’s Leslie Picker, That’s, ”, What’s, Warren Buffett, Berkshire Hathaway, Eva Rothenberg, Buffett, Gary Pilnick’s, WK Kellogg, Pilnick, Bran, ” Pilnick, hasn’t, Carl Quintanilla Organizations: CNN Business, Bell, New York CNN —, Nvidia, Dow, Nasdaq, Health, Tech, Deutsche Bank, Microsoft, Apple, Amazon, Google, JPMorgan, Federal Reserve, Traders, PCE, Berkshire, CNBC Locations: New York, Berkshire, Omaha , Nebraska, Omaha, United States

☆ Meet the ‘Granolas,’ Europe’s answer to the Magnificent 7 stocks
▼ + stars: | 2024-02-27 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —The Magnificent 7 tech stocks have been a big part of the extraordinary US market rally. But there’s a rival group of companies powering European stocks to new heights with even better returns, by some measures. Dubbed the “Granolas,” those 11 companies accounted for 60% of the gains on Europe’s benchmark stock index over the past 12 months. They have even slightly outperformed the Magnificent 7 over a longer period, according to Goldman Sachs. Their standout performance has “raised the issue of concentration effects” in the region’s stock market, says Philip Lawlor, managing director of markets research at Wilshire Indexes.

Persons: London CNN —, Goldman Sachs, ASML, ” Goldman Sachs, Goldman Sachs, Guillaume Jaisson, Ozempic, ‘, Philip Lawlor, ” Lawlor Organizations: London CNN, GSK, Roche, Novartis, Novo Nordisk, L’Oréal, AstraZeneca, SAP, Sanofi, “, CNN, Danish, Wilshire Indexes, —, Deutsche Bank Locations: LVMH, Europe, France, Germany, Denmark, Switzerland, Netherlands, United Kingdom, United States

☆ Top Wall Street analysts pick these dividend stocks for enhanced returns
▼ + stars: | 2024-02-25 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +5 min

The Coca-Cola Company logo is being displayed at a New Year's fair in Kyiv, Ukraine, on December 31, 2023. Investors looking to enhance their portfolio returns can opt for a combination of growth and dividend stocks. Choosing the right dividend stock by analyzing multiple factors can be complex for investors. However, recommendations from analysts can help inform investors' research and guide them toward lucrative dividend stocks from companies with strong fundamentals. Here are three attractive dividend stocks, according to Wall Street's top experts on TipRanks, a platform that ranks analysts based on their past performance.

Persons: Wall, Nik Modi, Modi, TipRanks, Brian Bedell, mgmt, Bedell, Goldman Sachs, Neil Mehta, Hess, Mehta Organizations: Cola, RBC Capital, Owl, Deutsche Bank, Chevron Oil, Chevron, CNBC PRO Locations: Kyiv, Ukraine, Chevron, Kazakhstan

☆ Yen sinks as currency traders keep short and carry on
▼ + stars: | 2024-02-23 | by ( ) www.cnbc.com time to read: +3 min

The yen is the worst-performing G10 currency this year, with a 6.4% slide on the dollar. For the week the yen is down 0.6% on the euro, touching its weakest for three months overnight at 163.45 per euro . Yen moves against the dollar were more modest due to the risk its slide could prompt intervention in markets from Japan, with officials reminding traders they stand ready in recent days. The dollar gained 0.1% to trade at 150.41 yen this week. Investors can earn interest, or carry, by borrowing yen around 0% and buying income-bearing assets in other currencies.

Persons: Moh Siong Sim, Sterling, Christine Lagarde, Christopher Waller Organizations: New, Deutsche, Britain, of Singapore, U.S, European Central Bank Locations: Japan, New Zealand, Friday's Asia, U.S, Europe

☆ 'Magnificent 7' tech stocks are dangerously dominant — and recession's still a real risk, top economist warns
▼ + stars: | 2024-02-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

The "Magnificent Seven" dominate the stock market to a worrying extent, one expert says. Deutsche Bank's economics chief, Jim Read, said investors should be wary of an economic slump. The "Magnificent Seven" are dominating the stock market to a worrying degree — and investors are underestimating the risk of a recession, one expert says. Microsoft, Apple, Nvidia, Amazon, Alphabet, Meta, and Tesla are collectively valued at more than $13 trillion, representing about a quarter of the entire US stock market. "My natural inclination is to say this is crazy," Jim Read, the global head of economics and thematic research at Deutsche Bank, told the "Merryn Talks Money" podcast this week.

Persons: Jim Read, Tesla Organizations: Deutsche, Microsoft, Apple, Nvidia, Deutsche Bank, Business

☆ Deutsche Bank's Mark Devries breaks down CFPB's new late fee rule
▼ + stars: | 2024-02-22 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeutsche Bank's Mark Devries breaks down CFPB's new late fee ruleMark Devries, Deutsche Bank research analyst, joins 'The Exchange' to discuss regulattion for credit card late fees and its impact to issuers.

Persons: Mark Devries Organizations: Deutsche, Deutsche Bank

☆ The Fed cutting rates too early risks sparking a worst-case scenario of resurgent inflation, 'The Big Short' investor Steve Eisman says
▼ + stars: | 2024-02-22 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The investor of "The Big Short" fame said inflation could rise if the Fed cuts rates too early. AdvertisementThe best thing the Fed can do right now is nothing, because cutting interest rates too early risks sparking a "worst-case" scenario, according to "The Big Short" investor Steve Eisman. That caused inflation to skyrocket past 14% in 1980, while effective interest rates in the economy notched 19% the following year. The Fed has been fighting inflation since March 2022, when central bankers began their campaign to aggressively raise interest rates and tighten financial conditions. Fed officials have said they aren't poised to cut interest rates until they're more confident inflation will return to the 2% price target.

Persons: Steve Eisman, —, Eisman Organizations: Service, Bloomberg, Fed, Deutsche Bank

☆ Chip analysts boost Nvidia price targets in race to catch up to chipmaker's relentless 'joyride'
▼ + stars: | 2024-02-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

That led several Wall Street banks to hike their price targets to account for the unrelenting demand. Bernstein and other Wall Street shops raced to catch up with Nvidia's share price, hiking their price targets in reaction to nonstop demand and the company's enormous total addressable market. Rasgon's new target was the equivalent of 48% upside from Wednesday's close, while the average price target according to FactSet implied more than 22% upside. Bank of America's Vivek Arya also lifted his Nvidia price target to $925 per share, equal to about 37% upside. JPMorgan analyst Harlan Sur boosted his price target to $850 to reflect strong data center growth and future product launches.

Persons: Bernstein's Stacy Rasgon, Bernstein, America's Vivek Arya, Harlan Sur, allaying, Sur, Goldman Sachs, Toshiya Hari, Morgan Stanley's Joseph Moore, Moore, Deutsche Bank's Ross Seymore, Seymore, Timothy Arcuri, Arcuri, — CNBC's Michael Bloom Organizations: Nvidia, Bank, America's, JPMorgan, Deutsche, UBS Locations: CY24

☆ Premarket stocks: Could the Federal Reserve rule out rate cuts in 2024?
▼ + stars: | 2024-02-22 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Now, some are wondering if the central bank might not cut rates at all in 2024. He expects the central bank to cut rates two to four times this year. Plus, there’s no official indication that the central bank won’t cut rates this year. • If the neutral interest rate, or the rate that maintains full employment and stable inflation, is revised upward closer to 3.5%. The neutral rate should be 2.5%, based on Fed officials’ estimates for the central bank’s key interest rate, inflation and unemployment.

Persons: stoked, Stocks, won’t pare, ”, Tom Graff, Jerome Powell, Oliver Darcy, “, Eddy, Apple’s, Read, Here’s what’s, Chris Isidore Organizations: CNN Business, Bell, New York CNN —, Federal Reserve, Deutsche Bank, Fed, Deutsche Bank economists, ” Apple, Wednesday, Apple Sports, NBA, NHL, MLS, NCAA, NFL, MLB, ESPN, Labor Department, Bureau of Labor Statistics, SAG Locations: New York, America

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