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HAVANA — Millions remain without power in Cuba for a third consecutive day as slow progress is made in restoring electricity following multiple major grid failures. Hurricane Oscar, a Category 1 storm, made landfall on eastern Cuba's northern coast Sunday evening with sustained winds of 80 mph. Levi blamed the U.S.'s “brutal blockade” for the financial difficulties in acquiring fuel and spare parts for Cuba's power plants, as well as for the current electric power crisis. Cuban police and military stand next to debris used to block a street during a protest against a blackout, after opening the street up to traffic, in Havana, Cuba on Saturday. Cuba’s economic crisis has spurred massive migration.

Persons: Vicente de la O Levi, Levi, Miguel Díaz, Norlys Perez, ”, “, ” Levi, Donald Trump’s, Orlando Matos, Carmen Sesin Organizations: U.S, Cuban, U.S . State Department, NBC News, Reuters Locations: HAVANA, Cuba, U.S, Colombia, Mexico, Venezuela, Russia, Havana, States, Miami

☆ Jim Cramer says not to panic over higher bond yields
▼ + stars: | 2024-10-21 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer examined Monday's market action and said investors shouldn't be too concerned about rising bond yields. "Stocks have soared with bond yields at these levels before; in fact, they've soared with the 30-year at 5%, they've soared with the 30-year at 6%, so let's stop it with the jeremiads." The indexes ticked lower on Monday as bond yields jumped, with the Dow Jones Industrial Average losing 0.8% and the S&P 500 dipping 0.18%. But Cramer noted that the stock market has "had a fabulous run," even as bond yields have been creeping up. Cramer acknowledged that some investors, particularly traders with a more short-term view, are inclined to automatically trim stocks when bond yields rise.

Persons: CNBC's Jim Cramer, shouldn't, Cramer Organizations: Dow Jones Industrial, Nasdaq, Federal

☆ The S&P 500's golden decade of returns is over, Goldman says
▼ + stars: | 2024-10-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

The S&P 500 will see annualized returns of 3% over the next 10 years, says Goldman Sachs. By its calculation, the S&P 500 has about a 72% chance of trailing bonds, and a 33% probability of lagging inflation through 2034. These stocks include tech large-caps such as Nvidia and Alphabet, whose performance has driven the S&P 500 more than 20% higher year-to-date. The same issue plagues a highly concentrated index," Goldman said. According to Goldman, S&P 500 firms that have consistently generated over 20% revenue growth underwent a sharp drop off after 10 years.

Persons: annualized, Goldman Sachs, That's, —, Goldman, that's Organizations: Service, Nvidia

☆ Marc Benioff says Microsoft rebranding Copilot as AI 'agents' shows they're in 'panic mode'
▼ + stars: | 2024-10-21 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

Benioff said Microsoft Copilot was inaccurate and compared it to "Clippy 2.0." Salesforce recently announced a pivot to Agentforce, its own product that inlcudes custom AI agents. Benioff's post comes over a month after Salesforce announced its own pivot to AI agents through Agentforce. Advertisement"This is the next big transformation," Benioff told Fortune in September, referring to AI agents. In his X post critiquing Microsoft Copilot, the Salesforce CEO said Agentforce, in contrast, was "what AI was meant to be."

Persons: Marc Benioff, Benioff, Microsoft Copilot, Salesforce, —, Copilot, Fortune, Agentforce Organizations: Microsoft, it's, Service, Monday, Business, McKinsey, Thomson Reuters

It's a good time to increase exposure to bitcoin as stocks continue hitting new records and as the U.S. presidential election draws nearer, according to Bernstein. Bitcoin is again testing $70,000, something it's done several times this year after reaching a new record above $73,000 in March. Bitcoin ETF inflows, crypto equity markets and retail trading sentiment [are] screaming 'risk-on.'" Earlier attempts led to brief forays above $70,000, but over the weekend bitcoin rose as high as $69,480, according to Coin Metrics. Their outperformance "reflects underlying bullish sentiment for the bitcoin asset class vs. the compute/energy thesis, which investors have favored so far."

Persons: Bernstein, Bitcoin, Gautam Chhugani, Harris, Trump, bitcoin, Chhugani, Mara, — CNBC's Michael Bloom Organizations: U.S, bitcoin, Metrics, Mara Holdings Locations: U.S

☆ Stock futures are little changed as earnings season gains steam: Live updates
▼ + stars: | 2024-10-21 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Stock futures were flat in overnight trading after the Dow Jones Industrial Average snapped a three-day winning streak. The S&P 500 declined about 0.2%, while the Nasdaq Composite added close to 0.3%. Investor attention remains fixated on third-quarter earnings season, with about one-fifth of the S&P 500 slated to report results this week. "It is good to see analysts getting realistic about 2025 earnings growth," she said. "However, at 15% earnings growth, we believe it is still too optimistic given the expectation for slower economic growth in 2025."

Persons: Dow, Zions, Megan Horneman, Lockheed Martin Organizations: New York Stock Exchange, Stock, Dow Jones, Dow, Nasdaq, SAP, America, Verdence Capital Advisors, Lockheed, General Motors, Verizon, Tesla, IBM, Boeing

Where to watch What We Do in the Shadows in the USWhat We Do in the Shadows airs on FX in the US. If you don't have cable and hope to watch the show live, you'll need to subscribe to a live TV streaming service like Sling TV, Fubo, or DirecTV Stream. Sling TV Subscription For just the essentials without any extra fluff, Sling TV is the streaming service you're looking for. Hulu subscriptions start at $10/month, but you can try out the streaming service free for one month. Check price at HuluWhere to watch What We Do in the Shadows in the UKWhat We Do in the Shadows seasons 1-5 are available to stream on Disney Plus in the UK.

Persons: Jemaine Clement, Taika Waititi, Matt Berry, Kayvan Novak, Natasia Demetriou, Mark Proksch, They're, Guillermo, Harvey Guillén, we've, We'll, ExpressVPN Organizations: Business, FX, DirecTV, Entertainment, DirecTV Stream, Hulu, Disney Plus, Apple Locations: Staten

☆ The election could be less of a market catalyst than people think, some investors say
▼ + stars: | 2024-10-21 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The U.S. presidential election is fast approaching, but it may not have as much an impact on markets as people may think, some investors say. History suggests the strong performance bodes well for a post-election pop into year's end. When Trump was elected in the 2016 presidential election, investors expected energy would perform well — but the subsequent two years proved unfavorable for the sector. During the 2000 election, volatility lasted for more than 30 days, through December. "We encourage investors to keep their long-term objectives in mind during periods of uncertainty and position for election related volatility," Guerra wrote.

Persons: Donald Trump, Kamala Harris, Trump, Harris, Sam Stovall, Stovall, Joe Biden's, Dan Chung, John Stoltzfus, Morgan Stanley, Morgan Stanley Wealth Management's Monica Guerra, Guerra, Ross Mayfield, Baird Organizations: U.S, NBC News, Republican, Dow Jones Industrial, CFRA, Oppenheimer Asset Management, Presidency, Senate, Republicans, Trump, Morgan Stanley Wealth

☆ Elections have little impact on stock prices. Here's what investors should focus on instead.
▼ + stars: | 2024-10-21 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

"Profits accelerating are far more important than who is sitting in the Oval Office," Subramanian said. Instead, the energy sector was the worst-performing sector when Trump was in office, losing 29% even as the S&P 500 surged 83%. Meanwhile, the clean energy sector rose 306% during Trump's presidency, according to data from YCharts. AdvertisementToday, the opposite is true: traditional energy stocks have been the best-performing sector during Biden's presidency, rising 139%, while the clean energy sector is the worst-performing sector, down about 55%. AdvertisementUltimately, Subramanian and her team expect the stock market to rise in 2025 regardless of who wins the election in November.

Persons: —, Savita Subramanian, Subramanian, Donald Trump, Trump, Joe Biden, Elon Musk Organizations: Bank of America, Stock, Service, Capitol, Republican, White House Locations: YCharts

☆ Rising bond yields whack stocks, again. But our second-biggest holding hits new high
▼ + stars: | 2024-10-21 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. In his Sunday column , Jim Cramer wrote about how big money going into S & P funds impacts the overall market. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, James Gorman, Jan, Morgan Stanley, Bob Iger's, Morgan Stanley's, Jim Cramer's, Jim Organizations: CNBC, Treasury, Nvidia, Fellow Club, Disney, Honeywell, United Parcel Service, Corp, Boeing, Jim Cramer's Charitable Locations: Monday's

A collection of stocks including AT & T and Tesla could see strong moves this week on the heels of quarterly results. Looking ahead, CNBC Pro screened for stocks that could see large moves in either direction in response to quarterly results this week, specifically by examining forecast moves based on action in the options market. The battered electric vehicle company stock has pulled back more than 11% in 2024 and is the worst performing stock in what had been the Magnificent Seven . The stock could see as much as a 6.3% move when reporting quarterly results on Oct. 23. Other stocks on the list that could see strong moves in tandem with their latest financials results included Enphase Energy and Harley-Davidson .

Persons: Tesla, JPMorgan Chase, Goldman Sachs, Elon, Musk, Davidson Organizations: CNBC Pro, AT, JPMorgan, EV, Bloomberg, Enphase Energy, Harley Locations: California, Texas

☆ Goldman Sachs upgrades Warby Parker to buy, cites strong margin growth as catalyst
▼ + stars: | 2024-10-21 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Analyst Brooke Roach noted that while the stock's valuation "remains somewhat elevated," Warby Parker's strong fundamentals and margin growth outlook justifies outperformance from here. Warby Parker trades at a forward price-to-earnings multiple of 69, well above the S & P 500's 24.6 ratio. Warby Parker also has a track record of maximizing its labor operations and first-year store profitability. Analysts are generally bullish on Warby Parker, which is up 17% for the year. Of the 15 covering the stock, eight have buy or strong buy ratings, LSEG data shows.

Persons: Warby, Goldman Sachs, Brooke Roach, Warby Parker, Roach

Kenvue CEO Thibaut Mongon at the New York Stock Exchange for its initial public offering, May 4, 2023. Activist investor Starboard Value has a large stake in Kenvue , which spun out of Johnson & Johnson in mid-2023, according to people familiar with the matter. Starboard's push at Kenvue comes just two weeks after news broke it had amassed a roughly $1 billion stake in struggling pharmaceutical company Pfizer. Johnson & Johnson completed its separation from Kenvue in August last year, though the pharmaceutical giant still holds a stake in the new company. Kenvue started trading on the New York Stock Exchange in May 2023, ending its first day of trading with a share price of about $27.

Persons: Thibaut Mongon, Johnson, Starboard's Jeff Smith, J's, Haleon, Kenvue Organizations: New York Stock Exchange, CNBC, Wall Street, Pfizer, Johnson, J, Procter Locations: Kenvue

☆ Two Navy pilots killed in jet crash had recently returned from Middle East deployment
▼ + stars: | 2024-10-21 | by ( Oren Liebermann | ) edition.cnn.com time to read: +3 min

Lyndsay P. Evans, 31, and Lt. Serena N. Wileman, 31, were killed after their EA-18G Growler fighter jet crashed on Tuesday. She was also awarded three Strike Flight Air Medals for contributing to missions flown between last December and March. Because of poor weather conditions and difficult terrain, the search for their downed fighter jet took three days. Search and rescue teams ultimately found the remains of the aircraft in a “remote, steep, and heavily-wooded area” at about 6,000 feet east of Rainier, the Navy said. The two often flew together on an EA-18G, according to the Navy, a modified version of an F/A-18 fighter jet.

Persons: Cmdr, Lyndsay, Evans, Serena, Dwight D, Eisenhower, Chris “, Ike, ” Wileman, ”, Miley, Aron Montano, US Navy Evans, “, ” Evans, Seattle’s King, Wileman Organizations: CNN, Naval, EA, Electronic Attack, Navy, Carrier Air, US Navy, Luke Air Force Base, Houthi Locations: Mount Rainier, Washington State, Yemen, Iran, Arizona, Rainier

☆ Goldman forecasts just a 3% S&P 500 annual return the next 10 years, down from 13% the last decade
▼ + stars: | 2024-10-21 | by ( John Melloy | ) www.cnbc.com time to read: +2 min

The S & P 500 returned 13% annually the last 10 years, above the long-term average of 11%, according to Goldman. Goldman's bearish long-term forecast comes just as the S & P 500 has entered the third year of a bull market, garnering a 27% annual total return the last two years. "The current high level of equity valuations is a key reason our 10-year forward return forecast sits at the lower end of the historical distribution," stated the note. The firm said the equal-weight S & P 500 would produce higher returns than the regular benchmark because of the concentration risk. The Invesco S & P 500 Equal Weight ETF (RSP)F tracks an equally distributed version of the index.

Persons: Goldman Sachs, David Kostin, Goldman, Goldman's Organizations: Nvidia

☆ The economic 'no landing' could drive the S&P 500 to a 13% gain in 2025, UBS says
▼ + stars: | 2024-10-21 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The bank is adding to the growing numbers of forecasts for a "no landing" of the US economy. Inflation will remain low enough to leave room for the Fed to cut interest rates, boosting stocks. The job market is proving resilient, despite tighter financial conditions and higher interest rates. AdvertisementCooling price growth sets the stage for the Fed to continue cutting interest rates, UBS said, which is bullish for stocks. The strategists added that while investors may see some volatility ahead of the November election, it's unlikely to interrupt more positive market catalysts.

Persons: — Organizations: UBS, Fed, Service, Bureau of Labor Statistics, New

☆ KKM Financial's Essential 40 stock fund is now an ETF
▼ + stars: | 2024-10-21 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

KKM Financial has converted its Essential 40 mutual fund into an ETF, joining the growing shift by asset managers to a more tax-efficient fund model. "A lot of the wealth advisors that I work with really have issues with the capital gain distribution typical to a mutual fund." The newly converted KKM fund will trade on the Nasdaq under the ticker ESN. The old mutual fund version of the Essential 40 had a three-star rating from Morningstar. The ETF will have a net expense ratio of 0.70%, equal to that of the old mutual fund.

Persons: Jeff Kilburg, Eli Lilly, Morningstar, They've Organizations: KKM, CNBC, SEC, Securities and Exchange Commission, Nasdaq, JPMorgan Chase, Waste Management, Morningstar Locations: U.S

☆ The stock market is primed for more gains ahead, Canaccord says
▼ + stars: | 2024-10-21 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The recent strong run in stocks could be just the beginning, according to Canaccord Genuity. The recent rally comes as the current bull market turned two years old. Canaccord Genuity analyst Michael Welch thinks more gains could lie ahead. .SPX mountain 2022-10-12 SPX during bull market "The current two-year-old bull market remains below the median in both percent gain and duration, suggesting the upside has further room to run," he wrote Monday. The latest market run also comes as investors pore through third-quarter results.

Persons: Canaccord, Michael Welch, Welch, Goldman Sachs, Warby Parker, Goldman Organizations: Federal Reserve, U.S

☆ Apple's AirPods Pro 2 will soon work as a hearing aid. Here's what it's like
▼ + stars: | 2024-10-21 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +4 min

The AirPods Pro 2 are also a cost-effective option for those looking for assistive hearing technology. Users can take a clinically validated hearing test with the AirPods Pro 2, and the buds will serve as an over-the-counter hearing aid if applicable. I tested the new hearing health features coming to Apple 's AirPods Pro 2 headphones, and they saved me a long-overdue trip to the audiologist. I have a pair of third-generation AirPods that I use every day, but this was my first time trying the AirPods Pro 2. After that, I popped them in my ears and prepared to take Apple's hearing test.

Persons: Tim Cook, Tapping, Apple, That's, haven't, I'd, you'll Organizations: Apple, World Health Organization Locations: Cupertino , California, U.S

☆ Disney makes the right pick to lead board as it searches for next CEO
▼ + stars: | 2024-10-21 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Iger's CEO contract currently runs until Dec. 31, 2026. Gorman joined Disney's board earlier this year and in August was named the lead of Disney's succession planning committee, which is tasked with finding Iger's replacement. In Nelson Peltz's unsuccessful proxy fight earlier this year, the activist investor took issue with how Disney's board previously handled succession. The firm's new CEO, Ted Pick, has "reaped some of the great success of Gorman," Jim added. Morgan Stanley shares soared to all-time highs last week after it reported top and bottom-line beats for its third quarter .

Persons: Bob Iger, James Gorman, Morgan Stanley, Mark Parker, Disney, Gorman, Iger, Bob Chapek, Nelson Peltz's, Jim Cramer, Jim, Ted Pick, Gary Hershorn Organizations: Disney, Nike, Wall, DIS, Club, CNBC, Hulu, ESPN, Magic, Walt Disney World, Corbis, Getty Locations: Orlando , Florida

☆ Diversify away from the growth concentration in the S&P 500, says value investor Bill Nygren
▼ + stars: | 2024-10-21 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

There are too many investors in the so-called Magnificent Seven and it's time to move away from them, according to value investor Bill Nygren. While there has been some rotation out of high-flying tech names into smaller stocks, the small-cap Russell 2000 still lags the S & P 500 for the year. "We think it's a really good time for an investor to diversify away from the concentration in the S & P 500," Nygren, Oakmark Funds chief investment officer and portfolio manager, said Monday on CNBC's " Money Movers ." Nygren highlighted automotive parts supplier Genuine Parts as a name he likes. Genuine Parts is currently at around 16 times trailing earnings, well below the S & P 500's multiple of 27.7, per FactSet.

Persons: Bill Nygren, Russell, Nygren, William Stengel, Stengel, Rob Davis Organizations: Nvidia, Meta, Oakmark Funds, Industrial Technologies, Merck

☆ What we learned in the LCS round: Bullpen dominance, Soto significance, money talks
▼ + stars: | 2024-10-21 | by ( Rustin Dodd | Sam Blum | ) www.nytimes.com time to read: +8 min

Bring on the most anticipated World Series in recent memory. The bullpens could decide the World SeriesThe Yankees’ series victory over the Guardians offered two gifts for Yankee fans:The club’s first World Series appearance since 2009. Not bad for an outfielder who will turn 26 on Friday — on the opening day of the World Series. This is not the roster that Los Angeles thought would carry them to the World Series way back in March. Can Freddie Freeman get back on the field for the World Series?

Persons: Mariano Rivera, Cleveland’s Emmanuel Clase, Clase, Rivera, Nobody, Aaron Judge, Giancarlo Stanton, Juan Soto, Soto, Alex Gordon, Jayson Werth, Shin, Soo Choo, salivating, Cleveland’s Hunter Gaddis — Soto, It’s, He’s, Ted Williams, you’re, Tyler Glasnow, Clayton Kershaw, Alex Vesia, River Ryan, Gavin Stone, Bobby Miller, James Paxton, Tommy Edman, Walker Buehler, Freddie Freeman’s, Teoscar Hernández, Will Smith, they’d, they’re, Freddie Freeman, Harry, Freeman, Max Muncy, Dave Roberts, Luke Hales Organizations: Major League Baseball, Dodgers – Yankees, Phillies, Diamondbacks, Rangers, Dodgers, Yankees, League, Yankee, Yankees ’, Guardians, Washington Nationals, Baseball, Astros, Padres, Mets, Dodger, Atlanta Braves Locations: Angeles

☆ European markets set to start the new trading week in mixed territory
▼ + stars: | 2024-10-21 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European markets are heading toward a mixed start to the new trading week. The U.K.'s FTSE 100 index is expected to open 17 points higher at 8,373, Germany's DAX down 12 points at 19,644, France's CAC up 1 point at 7,611 and Italy's FTSE MIB up 55 points at 35,087, according to data from IG. Regional markets had ended last week on a high note after the European Central Bank announced its third interest rate cut of the year last Thursday, lowering the deposit rate by another 25 basis points, as inflation risks in the European Union are seen to be easing faster than anticipated. Overnight, Asia-Pacific markets were mixed as traders assessed China's loan prime rate announcement, with focus also on Japan's general election at the end of this week. Stateside, stock futures ticked higher Sunday night after the Dow Jones Industrial Average and S&P 500 notched their best weekly win streaks of 2024.

Persons: Germany's DAX Organizations: France's CAC, IG, Regional, European Central Bank, Dow Jones Industrial Locations: European Union, Asia, Pacific

☆ The tax code could be in for upheaval. How to prepare your portfolio, per Bank of America
▼ + stars: | 2024-10-21 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

The Tax Cuts and Jobs Act (TCJA), which took effect in the beginning of 2018, overhauled the federal tax code. It roughly doubled the standard deduction, adjusted individual income tax brackets , lowered most of the rates and applied a $10,000 cap on the state and local tax deduction. Mutual funds tend to have higher turnover – that is, buying and selling of underlying securities – and by law they must distribute capital gains. Meanwhile, income from Treasurys are subject to federal income tax, but exempt from state and local tax. Seek tax-efficient opportunities for your holdings Take a look at your portfolio and see whether there are opportunities for tax-advantaged yield, Woodard said.

Persons: Jared Woodard, Woodard, MLPA Organizations: Bank of America, Mutual, Bloomberg, ETF, SEC, Muni, MLP & Energy Infrastructure, Global, MLP, MLPX, & $ Locations: U.S

☆ What's wrong with the Nasdaq? One troubling thing for the bulls' case
▼ + stars: | 2024-10-21 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Quantitative and technical strategist Javed Mirza pointed out in a note to clients that the Nasdaq 100 has not set a record high since July. On Monday, the Nasdaq 100 was trading about 2% below its record close. "The Nasdaq 100 just triggered a new short-term 'mechanical sell' signal, diverging from the other North American equity indices," Mirza said. The Nasdaq 100's slump is not the only factor pointing to toward a new phase for the bull market. To be sure, even the late stage phases of a bull market can last for quite a while.

Persons: Raymond James, Javed Mirza, Mirza, Dow Jones Organizations: Nasdaq, TSX, Canadian

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