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China stocks have been on an upward tear since then, with the mainland's CSI 300 index rallying over 25% to rise nine days in a row. Shares of Wynn Resorts and Las Vegas Sands have respectively gained nearly 8% and more than 2% this week. Stocks with a 14-day relative strength index reading, or RSI, above 70 are considered to be overbought. The stock has an RSI reading of 82. Fellow China play Wynn Resorts also has a high RSI reading of 86.
Persons: Robin Farley, Vistra, Angie Storozynski, Humana, Stephens, Paul Lejuez, WMT Organizations: People's Bank of China, CSI, Wynn Resorts, CNBC Pro, UBS, China, Seaport Research Partners, Humana, Dollar, Citi, Walmart, omni Locations: China, U.S, Macau
Freshly painted white and fitted with new mahogany shutters, this new old house is nearly finished. And then came the stunning phone call, freezing Mr. Goetz and Mr. Malin in the back of that cab. Would it “look like a fake old house?” Mr. Malin asked. “Do I care whether a two-by-four is hundreds of years old, or 90 days old?” Mr. Goetz asked. Construction can’t be finished fast enough for Mr. Goetz and Mr. Malin.
Persons: Matthew Malin, Andrew Goetz, Malin, Goetz, , , Mr, “ I’m, shou, Harold van Goetz, Malin + Goetz, rurality, Andrew Bernheimer, Jim Joseph, Joseph, Joseph ., John Hulka, Ralph Lauren, Hulka, Benjamin Moore, Frederick P, Saarinen, Jamie Purinton, can’t, Haroldhurst, “ We’ve Organizations: European Union, Joseph Architects, & Locations: Chatham , N.Y, Kinderhook, Hudson, Larchmont, London, Australia, South East England, Chelsea, New York, Chatham, Van Courtland, Dutch, Connecticut
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Friday's full episode of the Halftime Report — October 4, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.
Persons: CNBC's Scott Wapner Organizations: CNBC PRO
Chinese stocks could climb as much as 15% on the nation's expected fiscal stimulus package, SocGen said. The stimulus measures could push China's GDP to grow as much as 5% next year, strategist said. The package could amount to as much as 3 trillion yuan, or $427 billion, and include an "open-ended commitment" for a bigger stimulus package the following year. "The exact magnitude of the boost will be subject to the size and details of the fiscal package … the sustainability of housing stabilization and household wealth recovery." AdvertisementOther experts have noted that China's monetary stimulus measures are unlikely to be effective without fiscal stimulus to go along with it.
Persons: SocGen, , Société Générale Organizations: Service, National People's Conference Locations: Beijing, China
Research Affiliates CIO Chris Brightman believes immigration reform is needed to boost the economy. One proposed policy is projected to energize the labor market and liquidate $0.6 trillion in debt. But to one chief investment officer, immigration policy isn't a matter of political debate — it's an economic nonnegotiable. A declining population brings with it a declining labor force. Immigration policy solutionsBrightman sees the need for more friendly immigration policies such as providing permanent residency to immigrants who graduate from US universities.
Persons: Chris Brightman, , Brightman, they're Organizations: Research, Service, Social Security, Medicare, Immigrants, Penn Wharton Budget, Immigration Locations: Japan, Korea, Taiwan, Canada, New Zealand, Australia, outlays
CNN —Up to 600 people were shot dead in a matter of hours by al Qaeda-linked militants in an August attack on a town in Burkina Faso, according to a French government security assessment that nearly doubles the death toll cited in earlier reports. A series of coups across Mali, Burkina Faso and Niger led to the departure of French and American forces. The Russian mercenaries summoned by the juntas to bolster their grip have instead left a vacuum in which jihadists have thrived, says the assessment, given to CNN by a French security official. A view of the town of Barsalogho, Burkina Faso, where up to 600 people were killed by al Qaeda-linked militants in an August attack, according to a French government security assessment. CNN has reviewed videos of the alleged cannibalism that seem to show Burkina Faso soldiers dismembering and holding up body parts of apparent dead jihadists.
Persons: al, Nusrat al, JNIM, , jihadists, , I’m, Fear, Ibrahim Traore, Zero ”, Burkina Faso’s, Traore, , Wagner, group’s, Yevgeny Prigozhin, Donat Sorokin, Organizations: CNN, Getty, United Nations, Reuters, , Burkina Faso’s, Civil Service, Labs Inc, Rapid Locations: al Qaeda, Burkina Faso, Barsalogho, Africa, Islam, Mali, Sahel, West Africa, United States, jihadists, Niger, Tawori, Bamako, Burkina, France, Moscow, Ukraine, Ouagadougou, Russian, Russia, Saint Petersburg, BIR, Togo, Kompienga, Togolese, Qaeda
Activist investor Mantle Ridge has a $1 billion-plus stake in industrial gas supplier Air Products and Chemicals , according to a person familiar with the matter. The activist investor also wants to push the company on succession planning for Seifi Ghasemi, Air Products' 80-year-old CEO, the person said. Air Products is badly underperforming the S&P 500 for a second straight year. Air Products has a market cap of about $63 billion as of Friday's close. Air Products supplies chemicals and gases primarily to industrial customers, but has in recent years diversified into other businesses.
Persons: Seifi Ghasemi, Mantle, Paul Hilal, Seifi, Samir Serhan, Ghasemi, Warren Buffett, Berkshire Hathaway, Ken Squire Organizations: Air Products, Oiltanking, Chemicals, Products, Berkshire, CSX
RBC gives its top stock picks for the fourth quarter
  + stars: | 2024-10-04 | by ( Sean Conlon | ) www.cnbc.com   time to read: +4 min
The fourth quarter is just getting started, and RBC Capital Markets sees some stocks slated for growth in the months ahead. Looking ahead, RBC unveiled a list of its top 30 high-conviction global stock ideas that it thinks are poised to outperform in the long term. As a result, RBC has an outperform rating on the name, with a price target of $48. "As proof-points to the success of this strategy emerge, we believe the stock could begin to re-rate higher," the analyst said. Software name CrowdStrike and British oil giant Shell were also picked for the fourth quarter's list.
Persons: Brad Erickson, Daniel Perlin, Perlin, Ferrari, Tom Narayan Organizations: RBC Capital Markets, Dow Jones, RBC, Sarepta Therapeutics, Amazon, P Global, PayPal, Reuters Locations: Italy
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomy's still very solid if you look at a broad range of indicators, says Goldman's Jan HatziusJan Hatzius, Goldman Sachs chief economist, joins 'Squawk on the Street' to discuss Hatzius' thoughts on Friday's jobs report, the economic revisions, and if extreme weather will impact future economic data.
Persons: Goldman's Jan Hatzius Jan Hatzius, Goldman Sachs
Among undecided and persuadable voters Personality/behavior No biggest concern Ethics/honesty Ability to do the job Threat to democracy Race/racism/sexism Court cases/convictions Abortion Immigration Other 10 20 30% What, if anything, is your biggest concern about Kamala Harris? Among undecided and persuadable voters Honesty/trustworthiness Judgment/character No biggest concern Economy Lack of experience Ideology Need to know more Immigration Track record Other 10 20 30% What, if anything, is your biggest concern about Donald Trump? Among undecided and persuadable voters Personality/behavior No biggest concern Ethics/honesty Ability to do the job Threat to democracy Race/racism/sexism Court cases/convictions Abortion Immigration Other 10 20 30% What, if anything, is your biggest concern about Kamala Harris? White woman, 30s, Arizona “Little power hungry.”White man, 30s, North Carolina “His authoritative tendencies.”Woman, 40s, Michigan “Probably his rhetoric, maybe, and how he presents himself. Voters specifically mentioned costs and inflation, a persistent concern among undecided and not fully decided voters over the last few months.
Persons: Donald J, Trump, Kamala Harris, , He’s, , ” “, Georgia “, Joe Biden, Donald Trump, , Donald Trump’s, Michigan “, doesn’t, Harris, Trump’s, ” Harris, she’s, North Carolina “, She’s, I’m Organizations: The New York Times, Siena College, New York Times, Trump, Wisconsin, North Carolina “, Michigan, North Carolina “ Democrats Locations: Ohio, Arizona, Wisconsin, Georgia, Arizona , Georgia, Michigan, North Carolina , Ohio, Siena, North Carolina
For those looking to hedge against geopolitical risk, stocks are actually a pretty good way to do so, along with oil and gold. Bank of America looked at the best performers in the three and six months after major geopolitical events, including the Iraq War and Russia's invasion of Ukraine . The investment bank found that oil has historically been the best performer in the three months following major geopolitical events, generating a median return of 8.3%. On the other hand, gold is the best geopolitical hedge in the six months after such episodes. "[B]ad geopolitical events have not been bearish for risk assets in recent years, arguably the opposite," analyst Michael Hartnett wrote in a Thursday note.
Persons: , They've, Michael Hartnett, Hartnett Organizations: Bank of America Locations: Iraq, Ukraine, Israel, Iran, Russia, China, Taiwan
Iran, which is a member of OPEC, is a major player in the global oil market. It's estimated that as much as 4% of global supply could be at risk if Israel targets Iran's oil facilities. For some analysts, the reason crude prices have yet to move even higher is because the oil market is short. watch nowTamas Varga, an analyst at oil broker PVM, told CNBC via email on Thursday that the oil market was pricing in some risk premium given the geopolitical concerns. These fears, however, will be greatly alleviated in [the] coming days unless oil supply from the region or traffic through the Strait of Hormuz are materially impacted," he added.
Persons: Fatemeh, Goldman Sachs, SEB, Jeff Currie, Carlyle, CNBC's, it's, Currie, we've, Amrita Sen, We've, Sen, Joe Biden, Biden, Tamas Varga, " Varga, Benjamin Netanyahu, Masoud Pezeshkian Organizations: Anadolu, Getty, Energy, OPEC, Brent, U.S, West Texas, CNBC, White House, Islamic Revolutionary Guard Corps, Persian, Nurphoto Locations: Isfahan Refinery, Iran, Isfahan, Israel, Swedish, backwardation, bearishness, U.S, Hormuz, Oman, Tehran, Qatar, Persian, Bushehr, Bushehr province
Community volunteers carry gas at a relief area and community coordination center in Bills Creek, North Carolina, on Thursday. Melissa Sue Gerrits/Getty ImagesMen remove items from a fine arts business in Marshall, North Carolina, on Thursday. Melissa Sue Gerrits/Getty ImagesA volunteer helps clean out a flooded crawlspace under a home impacted by Hurricane Helene in Cruso, North Carolina, on Thursday. In North Carolina, guard members have been dropping in supplies from the air and airlifting people and pets to safety. President Joe Biden visits an area affected by Hurricane Helene in Keaton Beach, Florida, on Thursday.
Persons: Helene, Joe Dancy, CNN’s Laura Coates, ” Helene, Allison Joyce, Polly Trottenberg, Frank Matranga, ” Matranga, Melissa Sue Gerrits, Hurricane Helene, Jonathan Drake, Helene ., Jaclyn Rothenberg, we’re, Alejandro Mayorkas, Matranga, Joe Biden, ” Biden, Mandel Ngan, Joe Biden's, Tom Brenner, Eddie Hunnell, Hunnell, Phil Worth, Leslie, couldn’t, Phil, , ” Hunnell, , Leslie Worth, “ Leslie, “ I‘d, CNN Hunnell, CNN’s Kayla Tausche, Sam Fossum, Haley Talbot, Sara Smart, Emma Tucker, Andy Rose, Steve Almasy Organizations: CNN, Hurricane, Community, Getty, US Transportation Department, Reuters Cell, National Guard, FEMA, Homeland, Reuters Local, Small, Republicans, SBA Locations: Virginia, Carolina’s Buncombe County, Asheville, tatters, Swannanoa , North Carolina, United States, North Carolina, South Carolina, Georgia, Florida, Tennessee, Bills, , North Carolina, AFP, Marshall , North Carolina, Cruso , North Carolina, Hurricane, Keaton Beach , Florida, Grassy Creek , North Carolina, Worth
Red Lobster's new chief executive Damola Adamolekun during an interview with CNN at a Red Lobster in Long Island, New York, last week. CNNIn Springfield, he first ate at a Red Lobster with his parents and two siblings after church one Sunday. Red Lobster was where he, like millions of Americans, experienced eating lobster and cracking crab legs for the first time. Beyoncé sang about taking a romantic partner to Red Lobster in her 2016 hit song “Formation.”After Red Lobster filed for bankruptcy, Flava Flav ordered the whole menu to try to save the company. Red Lobster closed more than 100 restaurants this year, including a location in Orlando, Florida, shown this year.
Persons: Damola Adamolekun, , ” Adamolekun, It’s, , Adamolekun, Bill Darden, Mills, Chris Rock, Nicki Minaj, Beyoncé, Flav, “ Mr, ” —, Kevin Lamarque, Clarence Otis Jr, RJ Hottovy, Hottovy, Adamolekun’s, ” Hottovy, , Red, Phelan M, can’t, John Paulson, Paulson, P.F, Chang’s, Morgan McClure, Fortress, ” McClure, Brandon Bell, isn’t Organizations: New, New York CNN, CNN, Fortress Investment, Fortress, Red, Boomers, Darden, Thai Union Group, Former Red Lobster, Thai Union, As Thai Union, Thai, Brown University, Harvard Business School, Paulson & Co Locations: New York, Long, , New York, Nigeria, Zimbabwe, Netherlands, Springfield , Illinois, United States, Long Island , New York, Springfield, America, Alexandria , Virginia, Olive, Thai Union, Thai, Orlando , Florida, P.F, Chang’s, Columbia , Maryland, New York City, Scottsdale , Arizona, Austin , Texas
Stocks struggled this week as rising tensions in the Middle East set off the strongest rally in oil prices since March 2023. "The stock market has been living up to October's reputation of increased volatility," said Glen Smith, chief investment officer at GDS Wealth Management. Inflation report, Fed minutes on deck In the week ahead, investors will keep an eye on a couple of potential catalysts. On Wednesday, investors will parse minutes from September's central bank gathering for insights into the future path of monetary policy. "I would say the inflation report is probably less important than it used to be," Dickson said.
Persons: Stocks, Glen Smith, Said, Mike Dickson, Chris Zaccarelli, Zaccarelli, Investment's Dickson, It's, Dickson, Wells, John Williams, JPMorgan Chase Organizations: Dow Jones Industrial, Nasdaq, Federal Reserve, GDS Wealth Management, Federal, Horizon Investments, CNBC Pro, Independent, Alliance, PepsiCo, Delta, JPMorgan Chase, PepsiCO, New York Fed, PPI, University of Michigan, BlackRock, Bank of NY Mellon, JPMorgan Locations: White, Wells Fargo, Fastenal, Wells
I later moved to London and felt disappointed — it was harder to build community in a big city. AdvertisementOur town in Canada immediately felt like homeThere was a lot of beauty we could access for free or cheap in the Canadian Rockies. At the same time, the cost of living in London felt astronomical compared to Banff. London just didn't have the same sense of community as our town in Canada. For me, our town in the Rockies felt more like home, and I'd still move back in a heartbeat.
Persons: , texted, I'd, Canadians —, it'd, Alexander Spatari, we'd, would've Organizations: Canadian Rockies, Service, thipjang, Canadians, Rockies, National Insurance Locations: Australia, London, Banff, Canada, American, Europe, South America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPRO: Watch CNBC's full interview with the "Talk of the Tape" panelJill Carey Hall, Bank of America global research, and Courtney Garcia, Payne Capital Management, and Jeremy Siegel, Wharton School professor of finance, join 'Closing Bell' to discuss the latest news affecting markets.
Persons: Jill Carey, Courtney Garcia, Jeremy Siegel Organizations: Jill Carey Hall , Bank of America, Payne Capital Management, Wharton School
Washington CNN —Israel has not given assurances to the Biden administration that targeting Iran’s nuclear facilities is off the table in retaliation for the Iranian ballistic missile strikes earlier this week, a top US State Department official told CNN on Friday. The official added that it is “really hard to tell” if Israel will use the anniversary of Hamas’ October 7 attacks to retaliate. “We hope and expect to see some wisdom as well as strength, but as you guys know, no guarantees,” the official said when asked by CNN if Israel has assured the US that Iran’s nuclear sites are off the table. US officials have voiced support for Israel responding to Iran’s missile attack earlier this week, with multiple officials publicly saying there must be consequences. President Joe Biden said earlier this week the US would not support Israel targeting Iran’s nuclear program.
Persons: Washington CNN —, Biden, Joe Biden, ” Biden, Bolton, Biden's, Israel, , , Kurt Campbell, ” Campbell, ‘ let’s, ’ ” Campbell, CNN’s Nikki Carvajal Organizations: Washington CNN, US State Department, CNN, senior State Department, Carnegie Endowment, International Locations: Washington CNN — Israel, Israel, East, Iran, United States
"Maybe that weight loss product (by United Laboratories) works, maybe it doesn't. United Laboratories' price-to-earnings of 5.8 times is a fraction of the 34.3 times that Novo Nordisk is trading at, Peche added. [United Laboratories] is making smooth progress in R & D and targets to launch Liraglutide in 2024. Their comments follow United Laboratories' "faster than expected earnings" growth in the first half of the year. Analysts' average price target on United Laboratories is 12.95 Hong Kong dollars, giving it 28.2% potential upside.
Persons: Sean Peche, it's, Peche, there's, that's, Eli Lilly, Amgen, Carol Dou, Sunny Chen, UOB Kay Hian, bode Organizations: Novo Nordisk, Ranmore Fund Management, United Laboratories, Pfizer, AstraZeneca, Global Equity Fund, Hong, Hong Kong bourse, HK Locations: Hong Kong, Novo, Europe, U.S
Presenting no evidence, Trump claimed earlier this week that the Biden administration, along with North Carolina’s Democratic Gov. Those rumors prompted many state and local officials – including other Republicans – to push back. North Carolina Lt. Gov. The few that aren’t are owned by states other than North Carolina.” That statement is directly contradicted by an earlier tweet from the North Carolina National Guard, which reported it had conducted 57 air missions and rescued more than 400 people. “I think what makes it particularly frustrating is clearly, in these times, social media could be an invaluable source of reliable information.”
Persons: Hurricane Helene, , David Harker, Harker, Donald Trump, Elon Musk, Helene, Trump, Biden, Roy Cooper, Musk, ” Trump, , Sen, Kevin Corbin, , ” Corbin, Cooper, that’s, Deanne Criswell, Bill Lee, ” Lee, Mark Robinson, Robinson, Todd Hunt, Ron DeSantis, Ardis Watkins, Marjorie Taylor Greene, Greene, it’s, ” Harker Organizations: CNN — Local, Humanities, East Tennessee State University, North Carolina’s Democratic Gov, Federal Emergency Management Agency, FEMA, Facebook, Tennessee Emergency Management Agency, National Guard, Tennessee Gov, Republican, Gov, North Carolina National Guard, , Soldiers, Florida Gov, State Employees Association of North, Local, CNN, East Tennessee State Locations: United States, North Carolina, Tennessee, “ Florida, State Employees Association of North Carolina, North Georgia
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMicrosoft will be an early driver of AI agents, says Melius' Ben ReitzesBen Reitzes, Melius Research head of technology research, joins 'Closing Bell: Overtime' to discuss tech, the next wave of AI and his outlook on the semiconductor sector.
Persons: Melius, Ben Reitzes Ben Reitzes Organizations: Microsoft
The jobs market had a very strong September
  + stars: | 2024-10-04 | by ( Madison Hoff | ) www.businessinsider.com   time to read: +3 min
The Fed is pivoting away from fighting inflation to supporting the labor market. The encouraging numbers doubled down on a labor market that's showing signs of strength after a slowdown. The Federal Reserve signaled a pivot from fighting inflation to supporting the job market with a 50-basis-point interest rate cut in mid-September, the first cut in four years. AdvertisementWage growth was another highlight for the labor market in September. The latest jobs report didn't just indicate a strong September.
Persons: , Glen Smith Organizations: Service, Federal Reserve, BLS, GDS Wealth Management, Fed
The Coop Sleep Goods sale, which features 20% off orders of $125 or more, might be able to help you out. It's easy enough to unlock the Coop Sleep Goods discount. Coop Sleep Goods routinely makes it onto some of our best-of lists. In fact, Coop's bestselling Original Adjustable Pillow was named best overall in our heavily tested guide of the best pillows of 2024. The best Coop Sleep Goods items on saleAt 20%, the Original Pillow will cost $60.
Persons: We've, Coop Organizations: Business, Sleep
London CNN —In late September, as Israel’s nearly year-long war widened and its credit rating was downgraded yet again, the country’s finance minister, Bezalel Smotrich, said that, while Israel’s economy was under strain, it was resilient. Israel’s economy could shrink even more than that, based on a worst-case estimate by the Institute for National Security Studies at Tel Aviv University. Before the October 7 attack and ensuing Israel-Hamas war, the International Monetary Fund forecast that Israel’s economy would grow by an enviable 3.4% this year. Smotrich, the finance minister, is confident that Israel’s economy will bounce back once the war ends, but economists are concerned the damage will far outlast the conflict. Florion Goga/ReutersOther sectors of Israel’s economy, while less important than tech, have been hit much harder.
Persons: London CNN —, Bezalel Smotrich, ” Smotrich, Hassan Nasrallah, ratcheting, Karnit, , Menahem Kahana, , “ Israel, , Smotrich —, Flug, Ahmad Gharabli, Fitch, , Coface, Avi Hasson, Hasson, Florion Goga, Yaron Liberman, ” Liberman Organizations: London CNN, CNN, West Bank, United Nations, BMI, Fitch Solutions, Institute for National Security, Tel Aviv University, International Monetary Fund, of Israel, Getty, Bank of Israel, Israel Democracy Institute, Institute for National Security Studies, Moody’s, Startup Nation Locations: Lebanon’s, Beirut, Israel, Lebanon, Gaza, Israel’s, Iran, AFP, Egypt, Syria, Golan, Jerusalem's Old City, United States, Tel Aviv, housebuilding . Tourism
The widespread use of toothpaste and mouthwashes with added fluoride in recent decades appears to have diminished the known public health benefits of water fluoridation, a new study suggests. Hundreds of U.S. communities, from Amery, Wisconsin, to Union County, North Carolina, are opting out of water fluoridation. Still, she noted, “contemporary studies are showing that water fluoridation is beneficial.”Before fluoride toothpastes were widely available to consumers, adding the mineral to water provided a clear benefit to teeth. Fast-forward to 2024: About 75% of the U.S. population has tap water with added fluoride at recommended levels of 0.7 milligrams per liter of water. “Water fluoridation is still effective at reducing cavities,” he said.
Persons: , , Anne, Marie Glenny, That’s, ” Glenny, Johnny Johnson, Janet Clarkson, Clark Organizations: University of Manchester, U.S . Environmental, Agency, Cochrane, American Dental Association, American Academy of Pediatrics, Centers for Disease Control, Society, University of Dundee Locations: United Kingdom, U.S, Amery , Wisconsin, Union County , North Carolina, California, Australia, Grand Rapids , Michigan, Scotland
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