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☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Netflix, FedEx, Reddit, Broadcom, Chewy & more
▼ + stars: | 2024-10-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Wednesday's biggest calls on Wall Street: Citi initiates FedEx and UPS as buy Citi said in its initiation note that FedEx and UPS are well positioned. "Netflix remains a compelling growth story with significant room for revenue, earnings, and FCF growth over the next several years." Wells Fargo upgrades Valero to overweight from equal weight Wells said the company is one of the "best independent refiners." Mizuho reiterates Nvidia and Broadcom as outperform Mizuho said it's sticking with its outperform ratings on Nvidia and Broadcom. Wells Fargo reiterates Roblox as overweight Wells Fargo raised its price target on Roblox ahead of earnings in late October to $54 per share from $46.

Persons: underperform Jefferies, Guggenheim, TD Cowen, Cowen, Morgan Stanley, it's bullish, Piper Sandler downgrades Blackstone, Piper, Piper Sandler, Wells, Jefferies, Wolfe, VALE, Chewy, it's, Mizuho, Wells Fargo, Evercore Organizations: Citi, FedEx, UPS, Jefferies, Southwest, Deutsche Bank, Netflix, Deutsche, Inc, MetLife, Barclays, Apple, Apple Intelligence, New York Times, Industry, Nvidia, Broadcom, Mizuho, Lowe's Locations: Valero, underperform, Underperform

☆ Recession fears are fading. Now it’s time for America’s companies to back that up
▼ + stars: | 2024-10-09 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

New York CNN —Hopes for avoiding a recession are growing on Wall Street. Now, investors are looking to the upcoming earnings season for clues about the US economy’s health. The earnings season begins in earnest Friday with quarterly updates from big banks including JPMorgan Chase, Wells Fargo and BlackRock. Wall Street will also parse the September Consumer Price Index report and wholesale inflation figures due later this week. Wall Street will also eye developments from the tech companies whose mammoth stock returns have helped power this year’s bull market.

Persons: Motors, “, ”, Sarah Henry, Wells, Mark Malek, Siebert, Dave Sekera Organizations: New, New York CNN, Economic, PepsiCo, Conagra Brands, Logan Capital, JPMorgan Chase, Federal Reserve, Tech, “, FactSet, Apple, Nvidia, Communication, Morningstar Locations: New York, Wells Fargo, BlackRock

☆ Markets will be looking for any surprises out of Thursday's big inflation report
▼ + stars: | 2024-10-09 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Federal Reserve policymakers have been breathing easier lately regarding inflation, and that faith that they're closer to achieving their goal will get a key test Thursday. Specifically, the Labor Department's reading is expected to show an annual inflation rate of 2.2% and a monthly gain of just 0.1%, according to the Dow Jones consensus. However, following a much better than expected jobs report for September, Fed officials in recent days have indicated a likely more measured approach to cuts ahead. Details in Thursday's report will matter: Housing inflation has proven to be stubborn, though policymakers still expect lower rent renewals to feed into the data the months progress. The report hits just after the S & P 500 rose to a new record on Wednesday.

Persons: Dow Jones, Lorie Logan, Logan Organizations: Labor Department, Labor, Dallas

☆ Consolidation of Taiwan's financial industry is good: Cathay Financial
▼ + stars: | 2024-10-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailConsolidation of the Taiwanese financial industry is a good sign: Cathay Financial HoldingsChang-Ken Lee, president of Taiwan's biggest financial conglomerate, Cathay Financial Holdings, says he welcomes rate cuts from the Fed & global central banks. He also weighs in on the Taiwan's transforming financial industry.

Persons: Cathay Financial Holdings Chang, Ken Lee Organizations: Cathay Financial Holdings, Fed

But right now, borrowers should expect mortgage rates to remain near their current levels for the rest of 2024. See more mortgage rates on Zillow Real Estate on ZillowWhat Are Today's Mortgage Refinance Rates? See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Current 30-Year Mortgage RatesAverage 30-year mortgage rates are hovering around 6.20%, according to Zillow data. But now that inflation has decelerated and the Fed is expected to cut rates soon, mortgage rates have trended down.

Persons: Freddie Mac, it's, Fannie Mae Organizations: Federal Reserve, Zillow, Fed, Mortgage, Association, ARM, . Government Locations: Chevron, Government

☆ Stock futures are little changed as September consumer inflation report looms: Live updates
▼ + stars: | 2024-10-09 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during morning trading in New York City. U.S. stock futures were little changed Wednesday night as investors looked ahead to the release of September's consumer price index report. Futures tied to the Dow Jones Industrial Average traded near the flatline. Fed funds futures trading data suggests a roughly 70% likelihood of a quarter-point cut, according to CME Group's FedWatch tool. Economists polled by Dow Jones see core CPI, which excludes food and energy prices, rising by 0.2%.

Persons: Dow, Dow Jones, Stephanie Roth Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Federal, Wolfe Research, Delta Air Lines Locations: New York City . U.S

I spent weeks combing through thousands of discounts to find the best October Prime Day deals under $50 — each one I recommend below is highly rated, at least 20% off and at its lowest price in at least three months. SKIP AHEAD Best Prime Day deals under $50 | More Prime Day sales under $50 | Best sales under $50 at other retailers | How I picked the best deals under $50 | Why trust NBC Select? Best Prime Day deals under $504.5-star average rating from 110,503 reviews on AmazonSlice, chop and dice vegetables using this chopper. Best Prime Day sales under $50Here are the best Prime Day sales under $50 to know about. I’m an updates editor at NBC Select who has covered deals and sales for Prime Day, Black Friday and Cyber Monday for the past three years.

Persons: I’ll, ”, Zoe Malin, TikTok Organizations: NBC, Big Deal, Apple, Samsung, Google, Walmart, Wellness, Bath, Giftable Tech, Deal, Facebook, Twitter

☆ The 10 least valuable college degrees—only 1 helps grads earn more than $50,000
▼ + stars: | 2024-10-08 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +4 min

A college degree can help you financially get ahead, compared to a high school diploma alone. Bankrate looked at median salaries among workers and job seekers with at least a bachelor's degree, along with unemployment rates and advanced degree rates, to rank the most and least valuable college degrees. Here are the 10 least valuable college degrees in 2024, according to Bankrate:1. People with bachelor's degrees in less-common foreign languages have a slightly lower unemployment rate, but nearly half (45%) of these grads have advanced degrees. That data suggests an advanced degree — and the years of school required to to earn it — may be needed to to fare better financially in those careers.

Persons: Bankrate, Get Organizations: National Center for Education Statistics, Survey, —, New York Fed, Communications, CNBC Locations: New York

☆ Dollar holds on to 7-week highs as traders consider U.S. rates outlook
▼ + stars: | 2024-10-08 | by ( ) www.cnbc.com time to read: +3 min

The dollar clung to seven-week highs against major currencies on Tuesday as investors ponder the outlook for U.S. rates after a strong jobs report last week dashed bets for large rate cuts, while escalating tensions in Middle East dented risk sentiment. Traders have drastically shifted their monetary easing expectations from the Federal Reserve this year. That has kept the dollar on the front foot and surging to a multi-week high against the euro, sterling and the yen. The New Zealand dollar was 0.3% higher at $0.6144 ahead of the monetary policy decision on Wednesday. A majority of economists in a Reuters poll last week said the Reserve Bank of New Zealand will cut interest rate by 50 basis points.

Persons: Kieran Williams, Louis, Alberto Musalem, Shigeru Ishiba Organizations: Federal Reserve, Asia FX, InTouch, Reserve Bank of St, Treasury, Bank of, New Zealand, Reserve Bank of New Locations: Middle East, Asia, China, Bank of Japan, Reserve Bank of New Zealand

☆ Chip stocks look poised to make another run, especially Broadcom, according to the charts
▼ + stars: | 2024-10-08 | by ( Todd Gordon | ) www.cnbc.com time to read: +4 min

The charts indicate it may be time to look at chip stocks once again. However, the major semi names like Nvidia (NVDA) , Broadcom (AVGO) and AMD (AMD) have not actually fallen significantly in this rotation. Before we get into the specifics of Broadcom, let's take a look at the rotation out of semis starting in early August. Broadcom's chart Broadcom is a key holding in both my dividend and growth portfolios at Inside Edge Capital. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: swoon, we're, I've, you've, Todd Gordon, Gordon, AVGO Organizations: Semiconductor, Nvidia, Broadcom, AMD, CNBC Pro, let's, I've, Edge, Inside Edge, CNBC, NBC UNIVERSAL

☆ Stock futures are little changed after major averages post winning session Live updates
▼ + stars: | 2024-10-08 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

U.S. stock futures hovered near the flatline Tuesday night following a winning session for the major averages. Dow Jones Industrial Average futures rose 11 points, or 0.03%. S&P 500 futures and Nasdaq 100 futures dipped 0.01% and 0.01%, respectively. Wall Street is coming off a strong session for the major averages as tech stocks outperformed, and oil prices eased off their highs. The S&P 500 rose nearly 1%, while the Nasdaq Composite rallied about 1.5%.

Persons: Dow, Keith Lerner, Lerner, Wells Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Nvidia, Broadcom, Truist, U.S, Treasury, Fed, JPMorgan Chase Locations: what's, Wells Fargo

☆ Billie Eilish is touring without her brother Finneas O’Connell for the first time
▼ + stars: | 2024-10-08 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +2 min

CNN —Billie Eilish has gone from teen phenom to bone fide adult, according to her brother, producer and collaborator Finneas O’Connell. O’Connell and Eilish’s parents, Maggie Baird and Patrick O’Connell, have also been fixtures at her previous tours, with Baird juggling everything from scheduling to making sure Eilish is fed and the elder O’Connell serving as a member of her stage crew. “I will get your tampons and cook you a burrito on a moment’s notice, even if I have to use an iron to do it,” Baird told Vogue in Tuesday’s piece. She’s also touring with her own live band for the first time and is bringing along some of her childhood friends. Hopefully, Eilish told Vogue, “it’s going to be the f***ing fun.”

Persons: Billie Eilish, Finneas O’Connell, won’t, –, Billie, ” O’Connell, O’Connell, ”, she’s, Maggie Baird, Patrick O’Connell, Baird, “, ” Baird, Eilish, Nat, Alex Wolff, She’s, “ it’s Organizations: CNN, Vogue

☆ The Fed is now ahead of the curve with rate cuts, says Morgan Stanley's Brian Weinstein
▼ + stars: | 2024-10-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed is now ahead of the curve with rate cuts, says Morgan Stanley's Brian WeinsteinBrian Weinstein, Morgan Stanley Investment Management head of global markets, joins CNBC to discuss outlooks on China, expectations for the Federal Reserve, and more.

Persons: Morgan, Brian Weinstein Brian Weinstein Organizations: Morgan Stanley Investment Management, CNBC, Federal Reserve Locations: China

☆ Diversification of bull rally healthy for investors, says analyst
▼ + stars: | 2024-10-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDiversification of bull rally healthy for investors, says analystFiona Frick, founding partner of Circe Invest, discusses Fed policy and explains why the economy is still fragile despite strong employment data.

Persons: Fiona Frick, Circe Invest

☆ Gold eases as dollar firms; focus on Fed cues, U.S. data
▼ + stars: | 2024-10-08 | by ( ) www.cnbc.com time to read: +2 min

Spot gold was down 0.2% to $2,639.45 per ounce, as of 0303 GMT. U.S. gold futures lost 0.3% to $2,658.70. The dollar index hovered near a seven-week high, making bullion more expensive for holders of other currencies, while the benchmark U.S. Treasury 10-year yield topped 4% for the first time in more than two months. Investors are focused on the minutes of the Fed's latest policy meeting, due on Wednesday, followed by the U.S. Consumer Price Index on Thursday and the Producer Price Index data on Friday. "Looking ahead, if we see any upside surprises in the U.S. CPI numbers this week, this could boost further boost the dollar and pressure gold," Waterer added.

Persons: Gold, Tim Waterer, Israel, Bullion, Waterer, Louis, Alberto Musalem Organizations: Treasury, KCM Trade, U.S . Consumer, U.S, CPI, Louis Fed Locations: Singapore, Haifa, Lebanon, Gaza, St

☆ Peru has attracted a slew of foreign investors into its credit market. Here's why
▼ + stars: | 2024-10-08 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +5 min

Foreign investors now hold 39% of Peru's sovereign bond market holdings, the highest level across all emerging market countries. This underscores the increasingly positive sentiment surrounding the Peru's fixed income outlook. "It has recognized the need to provide international investors positive returns on domestic assets, and for central banks to be aligned with international investors and provide positive returns on domestic assets." "In some sense, the lack of a strong executive has led to better fixed income outcomes," Austerweil added. Dhawan also underscored that Peruvian fixed income is a high quality market for foreign investors.

Persons: Moody's, Dina Boluarte's, Pramol Dhawan, Pimco, Dhawan, David Austerweil, Soberano, Austerweil Organizations: Southern Copper Corp, Lawmakers, Peruvian, International Monetary Fund, Central Reserve Bank of, Bank of America, Mining Locations: Peru, Sol, Central Reserve Bank of Peru, America, U.S, Peruvian, China

This has helped push mortgage rates back up near where they were this summer, when 30-year rates were above 6%. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. But now that inflation has decelerated and the Fed is expected to cut rates soon, mortgage rates have trended down. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: you'll, they've, Freddie Mac, it's, Fannie Mae Organizations: Federal Reserve, Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs, Fed, Mortgage, Association Locations: Chevron

☆ The economy is facing a 'no-landing' scenario that undercuts the financial relief many Americans hoped for
▼ + stars: | 2024-10-08 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

However, the economy and the job market may be too strong to warrant steep rate cuts in the near term. "September's strong employment report and upward revisions in July and August murdered the hard-landing scenario," Yardeni said in a note to clients this week. The 30-year mortgage rate has crept higher, not lower, since the Fed delivered its big rate cut. As the economy reaccelerates, inflation could become a problem again, solidifying a higher for longer interest rate outlook that many had abandoned after the Fed's jumbo rate cut last month. Advertisement"With benchmark interest rates coming down, most prospective borrowers don't feel relieved of high borrowing costs," according to Mark Hamrick, a senior economic analyst at Bankrate.

Persons: —, Ed Yardeni, Yardeni, Megan Horneman, Steven Blitz, Mark Hamrick Organizations: Service, Federal Reserve, Yardeni, Fed, Verdence Capital Advisors, TS Lombard, Philadelphia Fed

☆ Group of smaller stocks is primed for major gains ahead, according to Oppenheimer
▼ + stars: | 2024-10-08 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +3 min

In 2024, the small-cap benchmark Russell 2000 's 8% rise still lags the S & P 500's roughly 19% gain. However, Oppenheimer thinks there is further upside ahead for these names. The stock offers a 5% dividend yield and healthy — albeit "lumpy" — free cash flow growth, the analyst added. CCOI YTD mountain Cogent Communications in 2024 Health-care services stock Chemed is another one of Oppenheimer's favorites. The online sports-betting (OSB) data provider could surge more than 37%, based on the $10 price target Oppenheimer holds on shares.

Persons: Oppenheimer, Russell, Timothy Horan, " Horan, Horan, Chemed, Michael Wiederhorn, Wiederhorn, Jed Kelly, — CNBC's Michael Bloom Organizations: Federal Reserve, Genius Sports, National Football League, Football, Professional

☆ The bar for earnings is low, and stocks should rise as long companies are feeling upbeat about lower rates, BofA says
▼ + stars: | 2024-10-08 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

As long as companies report that they're feeling good about lower interest rates, stocks should rise. That's according to Bank of America, which notes that apart from that dynamic, the bar for third-quarter earnings set by Wall Street is pretty low. The analysts expect 2% earnings growth, below consensus estimates of 4% and second-quarter earnings growth of 11%. As long as companies have managed through macro headwinds and see early signs of improvement from lower rates, stocks should get rewarded," the analysts said in a Tuesday note. The analysts recommend watching those sectors for early signs of improvement from lower rates ahead of earnings.

Persons: — Organizations: Bank of America, Service, Wall, Federal Reserve, Manufacturing

☆ Stock market today: Indexes edge up as oil prices ease and traders look to key inflation data
▼ + stars: | 2024-10-08 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Oil prices slid, while investors shrugged off sluggishness in China stocks. Wall Street is gearing up for CPI, which is in focus after the strong September payroll report. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementStock markets opened higher on Tuesday as oil prices dipped, helping investors recover slightly after Monday's losing session. Instead, Wall Street is largely focused on earnings and upcoming inflation data, scheduled for release on Thursday.

Persons: Stocks, —, Monday's, Brent, Wells Organizations: CPI, Service, Stock, Federal Reserve, Bank of America, PepsiCo, JPMorgan, BlackRock Locations: sluggishness, China, Beijing, Wells Fargo, Here's

☆ Rate cuts were supposed to push mortgage rates lower. The opposite has happened.
▼ + stars: | 2024-10-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Fed easing hasn't led to lower mortgage rates, with the 30-year fixed rate actually rising since the first rate cut. Mortgage rates are closely linked to the 10-year US Treasury yield, which have also risen over the period. AdvertisementThe Federal Reserve's jumbo interest-rate cut in mid-September was welcome news to prospective homebuyers, with the expectation that a lower fed funds rate would help push mortgage rates lower. According to data from Mortgage News Daily, the average 30-year fixed mortgage rate has jumped about 47 basis points since the Fed rate cut, to 6.62% from 6.15%. Whether that will manifest itself in lower mortgage rates is up in the air.

Persons: —, Jerome Powell, Sonu Varghese, it's Organizations: Treasury, Service, Mortgage News, Carson, CME

☆ CNBC Daily Open: Fear is the stock killer
▼ + stars: | 2024-10-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Michael M. Santiago | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The yield curve inverted in early July 2022 and normalized in early September. It's not inconceivable, then, for investors who take stock in what the yield curve signals to panic a little. But there's an undercurrent of fear that can perhaps run contrary to what some of those numbers are saying.

Persons: Michael M, That's, Jeff Cox, It's, David Roche, Bob Parker, – CNBC's, Lisa Kailai Han, Jesse Pound Organizations: New York Stock Exchange, Santiago, CNBC, Quantum, International Capital Markets Locations: New York City, U.S

☆ For white-collar prisoners who just can't disconnect, $3,000 contraband cellphones can literally fall from the sky
▼ + stars: | 2024-10-08 | by ( Laura Italiano | ) www.businessinsider.com time to read: +10 min

White-collar criminals who can't disconnect are spending thousands of dollars on prison cellphones. Contraband phones go for $1,000 or as little as a few hundred dollars, depending on supply, at minimum-security camps, the so-called Club Feds. The stakes are particularly high for Wilson; his office continues to prosecute a violent, 90-defendant drug ring run by imprisoned people using contraband cellphones. The bureau urges Congress to pass the Lieutenant Osvaldo Albarati Stopping Prison Contraband Act, which would upgrade the charge of smuggling contraband cellphones into a Federal prison from a misdemeanor offense to a felony, Murphy said. White-collar criminals tend to put their contraband phones to more benign uses.

Persons: —, Craig Roth, Joseph Degregorio, Degregorio, it's, Justin Paperny, Paperny, Martha Stewart, Scotty Carper, Carper, Ron Kuby, Norm Pattis, Alex Jones, Pattis, Alan Wilson, Wilson, Donald Murphy, Osvaldo Albarati, Murphy, Christopher Carr, hadn't, Rothfeld, I've Organizations: Service, Devens, National Institute of Justice, Fed, FCC Devens, Feds, Federal Communications, of Prisons, FCC, South Carolina, AGs, Prisons, Georgia's AG Locations: New Jersey, Devens , Massachusetts, Lewisberg, Pennsylvania, Alderson , West Virginia, Leavenworth , Kansas, Sacramento , California, Leavenworth, Manhattan, Georgia

☆ We're exiting a slowdown stock that no longer looks right for this market
▼ + stars: | 2024-10-08 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Following the trade, Jim Cramer's Charitable Trust will no longer own a position in Procter & Gamble. Shares of P & G have had a good run this year, rallying 14% on top of three dividend payments collected along the way. As we pointed out in a recent trim , P & G rose to new highs at the start of September when the market rotated into defensive stocks. Against that backdrop, we see less need to hold onto traditional slowdown stocks like P & G that don't have enough growth to satisfy their valuations. Due to this premium, we don't think P & G has the potential upside we seek in the portfolio.

Persons: Jim Cramer's, —, Jim Cramer, Jim Organizations: Procter, Procter & Gamble, Federal Reserve, Jim Cramer's Charitable, CNBC Locations: Procter &

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