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☆ CNBC's Inside India newsletter: Will AI make or break India?
▼ + stars: | 2024-05-02 | by ( Ganesh Rao | ) www.cnbc.com time to read: +9 min

But one that could foreshadow India's growth story. Can Teleperformance's stock plunge be the canary in the coal mine for what is likely to happen to India because of AI? But it's likely to be a blip for India's growth trajectory, given the macro forces at play. Besides creating jobs that are less likely to be immediately disrupted by AI, India could also be a net beneficiary of artificial intelligence. The Indian stock market indexes, Sensex and Nifty 50 , are heading for a positive week again — up by 1% and 1.2%, respectively.

Persons: Findlay Kember, Klarna, ChatGPT, K Krithivasan, Krithivasan, Narendra Modi, It's, Shilan Shah, Goldman Sachs, Vinay Dwivedi, Ashok Gulati, Nomura, League Pickleball, Karine Jean, Pierre, Jerome Powell, Raghuram Rajan, Ashish Jain, CNBC's Ayushi Jindal Organizations: AFP, Getty, India's Tata Consultancy Services, Financial Times, TCS, World Bank, International Monetary Fund, University of Oxford, Capital Economics, Investment, Nomura, Qualcomm, Powerchip Semiconductor Manufacturing, UPI, India, Commission, Agricultural, United Pickleball Association, Global Sports, PPA, League, Washington Post, White, U.S ., Federal, CNBC, Reserve Bank of India, University of Chicago Booth School of Business Locations: Swedish, Paris, India, Chennai, U.S, Europe, China, Singapore, South Korea, Canada, United States

☆ The specter of stagflation is back in the news. BofA says investors should buy these 2 areas of the market to capitalize.
▼ + stars: | 2024-05-02 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Headlines talking about "stagflation" have rocketed to the most in two years, Bank of America said. Utilities and energy typically benefit the most in stagflationary conditions, the bank said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementHeadline references to "stagflation" catapulted to a two-year high last week, Bank of America reported, which could start weighing on Wall Street sentiment. We think that view is misguided, as it is based on an apples-to-oranges comparison," the bank wrote last week.

Persons: —, it's, stagflationary Organizations: Bank of America, Service, Tech

☆ Yen gives up ground vs dollar following surge on suspected intervention
▼ + stars: | 2024-05-02 | by ( ) www.cnbc.com time to read: +3 min

An attendant holds a sample of newly-designed Japanese 10,000 yen banknote, with three-dimensional holographic technology to prevent forgery, for a photograph at the National Printing Bureau Tokyo plant in Tokyo, Japan, on Wednesday, June 28, 2023. The yen gave up ground in early trade on Thursday, reversing direction after a sudden surge against the dollar overnight that traders and analysts were quick to attribute to intervention by Japanese authorities. The dollar was 0.9% higher at 155.98 yen as of 0100 GMT, retracing about half of its late Wednesday surge from around 157.55 to exactly 153 over a period of about 30 minutes. "The 'sneak attack' element really is the MOF (Japan's Ministry of Finance) looking to punish speculators and send a warning about shorting the yen." That helped lift the dollar to a 34-year peak of 160.245 yen on Monday and also spurred a sharp reversal which official data suggested was due to Japanese intervention totalling about $35 billion.

Persons: Jerome Powell, Masato Kanda, Kyle Rodda, Sterling, Powell, Jack Mclntyre Organizations: National Printing Bureau, Federal Reserve, Reuters, Capital.com, Japan's Ministry of Finance, Bank of Japan, Brandywine Locations: National Printing Bureau Tokyo, Tokyo, Japan, U.S, Melbourne

☆ Here are Thursday's biggest analyst calls: Ferrari, Netflix, Tesla, Nvidia, TJX, Carvana & more
▼ + stars: | 2024-05-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

UBS upgrades Burlington to neutral from sell UBS said the outlook for Burlington is improving. Jefferies reiterates Netflix as buy After a change in analyst coverage, the firm says it's standing by its buy rating. UBS upgrades TJX Companies to buy from neutral UBS says the off-price retailer is a "growth stock with surprising upside." UBS downgrades CVS to neutral from buy UBS said it sees too much uncertainty for shares of CVS. JPMorgan upgrades Carvana to overweight from neutral JPMorgan upgraded Carvana following earnings on Wednesday.

Persons: Morgan Stanley, Ferrari, Mizuho, C27E, BURL, Jefferies, Rosenblatt, TD Cowen downgrades Wolfspeed, Cowen, Raymond James, Parsons, Ziff Davis, KBW, Piper Sandler, Cantor Fitzgerald, Tesla, Cantor, it's bullish Organizations: Nvidia, Mizuho, UBS, Netflix, Networks, Enterprise, Jefferies, CTV, TJX Companies, Department Stores, CVS, JPMorgan, Susquehanna, MGM, Bank of America, Community Bank, Piper, NYCB, ~$ Locations: Burlington, Las Vegas

☆ Global Growth Forecast Is Lifted but Risks Loom, O.E.C.D. Says
▼ + stars: | 2024-05-02 | by ( Liz Alderman | More About Liz Alderman | ) www.nytimes.com time to read: +1 min

In the United States, the Federal Reserve left interest rates steady on Wednesday, citing wariness about how stubborn inflation was proving. Even so, the United States is expected to remain an engine of global growth this year, expanding at a 2.6 percent pace, the O.E.C.D. Both the euro currency bloc and Britain ended 2023 in recession, deepened by record high interest rates deployed by the European Central Bank and the Bank of England to help fight inflation. The outlook should improve next year, as high interest rates come down, unleashing more spending by businesses and households. forecast the eurozone economy to expand at 1.5 percent in 2025, more than double the expected growth rate this year.

Persons: “ We’ve, Clare Lombardelli, Lombardelli Organizations: Federal Reserve, Britain, European Central Bank, Bank of England Locations: United States, Europe, Germany, Greece, Spain

☆ BofA's Sara Senatore explains why she's still bullish on Starbucks after major earnings miss
▼ + stars: | 2024-05-01 | 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 EmailBofA's Sara Senatore explains why she's still bullish on Starbucks after major earnings missSara Senatore, Bank of America, joins 'Fast Money' to share the bull case to Starbucks after the stock plummeted on disappointing earnings.

Persons: Sara Senatore, she's Organizations: Starbucks, Bank of America

☆ Federal Reserve interest rate verdict: Central bankers meet to decide on next move
▼ + stars: | 2024-05-01 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington CNN —The Federal Reserve is expected to announce Wednesday that it is keeping interest rates at a quarter-century high for the sixth-straight meeting. Other Fed officials have already introduced the possibility of a rate hike, in addition to the chance of no rate cuts this year. Williams later said that another rate hike is possible if economic data warrants it. That combination eerily resembled stagflation, which triggered a broad stocks selloff on Wall Street Thursday. The threshold for a rate hike is ‘extremely high’Another interest rate hike is back in the conversation, but at the moment, it’s still not likely the Fed will do that.

Persons: Jerome Powell, ” Powell, Powell, John Williams, Williams, Neel Kashkari, Austan Goolsbee, “, can’t, it’s, Goldman Sachs, Wall, ” Oren Klachkin Organizations: Washington CNN, Federal, Index, New York Fed, Bloomberg, Minneapolis, Chicago Fed, Commerce Department, JPMorgan, Bank of America, Nationwide, CNN Locations: New, Chicago, Wells Fargo

☆ Wednesday's analyst calls: Amazon draws praise, 3M finds some support, Starbucks cut
▼ + stars: | 2024-05-01 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +8 min

JPMorgan analyst Vivek Juneja upgraded the regional bank stock to an overweight rating from neutral, simultaneously lifting his price target to $39.50 from $37.50. — Lisa Kailai Han 6:27 a.m.: Deutsche Bank downgrades Starbucks after disappointing quarterly earnings Starbucks could feel some near-term pressure, according to Deutsche Bank. Analyst C. Stephen Tusa also raised his price target to $111 from $110, implying that shares of 3M could rally 15% from here. 3M stock has added nearly 6% so far in 2024, but the stock is still trading at an attractive valuation given the company's characteristics, Tusa said. Amongst the group, JPMorgan analyst Doug Anmuth has the highest price target of $240, which implies that Amazon stock could rally another 37% from here.

Persons: Vivek Juneja, Juneja, — Lisa Kailai Han, Samik Chatterjee, Chatterjee, Lauren Silberman, Silberman, Lisa Kailai Han, Stephen Tusa, Tusa, 3M's, Morgan Stanley, Doug Anmuth, Anmuth, — Lisa Kailai Han — CNBC's Michael Bloom Organizations: CNBC, JPMorgan, Starbucks, Deutsche Bank, Fifth, Bancorp, Logitech, 3M, Barclays, Bank of America, Amazon, Services, Wall Street, — Locations: China

☆ Federal prosecutors are examining financial transactions at Block, owner of Cash App and Square
▼ + stars: | 2024-05-01 | by ( Gretchen Morgenson | ) www.cnbc.com time to read: +13 min

Cash App, introduced in 2013, allows users to send and receive money instantaneously among themselves and to buy stocks and Bitcoin. As of December, Cash App had 56 million active transacting accounts and $248 billion in inflows during the previous four quarters, the company said. (Merchants are considered customers at Square, while users are considered customers at Cash App.) Cash App is not a bank, but it uses external banking partners to conduct various services. On March 29, Sutton Bank settled a consent order with the Federal Deposit Insurance Corp. that echoed the whistleblowers' allegations.

Persons: Jack Dorsey, Block, Venezuela —, Edward Siedle, Prosecutors, Cash, OFAC, Lawrence Summers, Sharon Rothstein, Summers, Rothstein, Lord Paul Deighton, Goldman Sachs, Deighton, Dorsey, Banks, Sutton, James Booker Organizations: Twitter, Southern, of, NBC, NBC News, Securities and Exchange Commission, Block, Foreign Assets Control, U.S . Treasury, Cash, OFAC, Goldman, Financial Market, Bank of Lithuania, Payments Lithuania UAB, PayPal, Consumer Finance Protection Bureau, Sutton Bank, Federal Deposit Insurance Corp, FDIC Locations: of New York, Cuba, Iran, Russia, Venezuela, Ohio, Sutton

☆ Here are Wednesday's biggest analyst calls: Apple, Nvidia, Amazon, Tesla, 3M, Pinterest, AMD, Meta and more
▼ + stars: | 2024-05-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Barclays reiterates Advanced Micro Devices as overweight Barclays said the chipmaker is "best positioned" following earnings on Tuesday. JPMorgan reiterates Apple as overweight JPMorgan said it sees an attractive entry point ahead of Apple earnings on Thursday afternoon. JPMorgan upgrades Fifth Third to overweight from neutral JPMorgan said it sees earnings upside for the regional bank. JPMorgan upgrades 3M to overweight from neutral JPMorgan said shares of the company are compelling at current levels. Bank of America reiterates Pinterest as buy Bank of America said it sees "multiple tailwinds to aid growth & margins" following earnings on Tuesday.

Persons: Morgan Stanley, Tesla, JPMorgan, Wedbush, TD Cowen downgrades Skyworks, Cowen, Pinterest, Goldman Sachs, Goldman Organizations: Bank of America, Amazon, Barclays, AMD, JPMorgan, Apple, Nvidia, Seagate, HSBC, Deutsche Bank, Starbucks, Deutsche, Logitech, Meta Locations: China, 3QFY24, Pinner, SiriusXM

☆ Amazon stock has 17% upside as earnings reveal a 'new era' of profits for the tech titan, Bank of America says
▼ + stars: | 2024-05-01 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

Bank of America boosted Amazon's price target after earnings to $210, eyeing 17% upside from Wednesday's price levels. Amazon's Q2 guidance slightly fell short of Wall Street's expectations, but Bofa still sees upside ahead. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAmazon stock could soar as its latest earnings herald a "new era" of profits for the tech behemoth, according to Bank of America. On the guidance front, Amazon expects Q2 net sales to range between $144.0 billion and $149.0 billion, 2.5% below the estimated $150.21 billion.

Persons: Bofa, —, Justin Post, BofA Organizations: of America, Service, Bank of America . Bank of America, Amazon

☆ The Fed once again holds interest rates steady — with cuts expected later this year
▼ + stars: | 2024-05-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

Read previewThe nation's central bank offered no surprises in its latest interest rate decision. On Wednesday, the Federal Open Market Committee announced that it would be holding interest rates steady, continuing the pause on rates that began in September. While the FOMC projected three interest rate cuts for 2024, inflation is not quite where the Fed needs it to be. "It looks to me like he's trying to lower interest rates for the sake of maybe getting people elected," Trump said. "Inflation has continued to run hot and there is no compelling need for the Fed to cut interest rates until they're comfortable with where inflation is headed," Greg McBride, chief financial analyst for Bankrate, said in a statement.

Persons: —, It's, Jerome Powell, Powell, Donald Trump, Trump, Greg McBride Organizations: Service, Federal, Market Committee, Federal Reserve, Business, Fox News, Street Journal, Trump, Fed Locations: Washington

☆ Analysts bail on Starbucks with 2 downgrades, slashed price targets. 'Stunning across-the-board miss,' says Blair
▼ + stars: | 2024-05-01 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

But Deutsche kept its $89 price target, which suggests the stock could gain just 0.6%, as of Tuesday's close. Starbucks stock hasn't logged a positive year since 2021. Bank of America's Sara Senatore maintained her buy rating and $108 price target, which implies roughly 22% potential upside — a fairly bullish aim compared with other firms. Underpinning Senatore's stance is her expectation that Starbucks' earnings growth will reaccelerate in 2025, fueled by traffic-driving initiatives, such as more menu innovation and operational improvements. JPMorgan analyst John Ivankoe kept his overweight rating but moved his price target lower to $92 from $100.

Persons: William Blair, Sharon Zackfia, Zackfia, Lauren Silberman, Deutsche, Wells, Bank of America's Sara Senatore, Laxman Narasimhan, John Ivankoe Organizations: Starbucks, Deutsche Bank, JPMorgan, UBS, Bank of America, Bank of America's Locations: Tuesday's, U.S, China, Wells Fargo, Israel

☆ Once-hot AI play Super Micro is getting crushed, but most analysts are staying bullish
▼ + stars: | 2024-05-01 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Super Micro Computer shares are selling off at the moment, but major Wall Street firms are hopeful about the company's long-term prospects. Super Micro, one of the vendors that builds Nvidia-based servers, released quarterly results on Tuesday after market close. Super Micro also bumped up its fiscal 2024 revenue guidance above its previously estimated range and what analysts are expecting. But a revenue miss dragged shares of Super Micro 16% lower on Wednesday. On the other hand, Goldman Sachs and Wells Fargo maintained their neutral-equivalent ratings for shares of Super Micro.

Persons: LSEG, Samik, Chatterjee, Ruplu Bhattacharya, George Wang, Wang, Goldman Sachs, Wells Fargo, Wells, SMCI, Michael Ng, Ng Organizations: Micro Computer, Nvidia, Super, JPMorgan, Barclays, Bank of America, DELL Locations: CY25, East, UAE, Saudi Arabia, Sweden, Japan, Korea, Malaysia

☆ The Fed could make a big change today. We’re not talking about interest rates
▼ + stars: | 2024-05-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —Wednesday’s Federal Reserve policy decision will likely be pretty boring for investors — officials are widely expected to keep interest rates the same, just as they have since July 2023. They think that the Fed may curtail its quantitative tightening (QT) program — that’s the selling off of its assets to decrease money supply and increase interest rates — by as much as half. Those purchases ended up pushing down interest rates in certain parts of the economy, like housing and auto sales. That led to a “repo crisis”, where the interest rates for overnight loans between banks spiked unusually high. That’s because a taper should send bond prices higher, and interest rates lower.

Persons: there’s, Jamie Dimon, Jerome Powell doesn’t, Krishna Guha, Marco Casiraghi, ”, Bill Adams, Biden, reclassify, General Merrick Garland, Xochitl Hinojosa, “, Nancy Mace, Earl Blumenauer, ” Read, Zhao, Allison Morrow, ” Binance Organizations: CNN Business, Bell, New York CNN, Fed, JPMorgan Chase, Comerica Bank, Bank of America, CNN, US Department of Justice, Federal Register, Congress, Associated Press, Republican, CZ, Binance, Bloomberg Locations: New York, South Carolina, Oregon, Seattle

☆ A contrarian stock market indicator is on the verge of flashing a 'buy' signal, Bank of America says
▼ + stars: | 2024-05-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Stocks are edging closer to a "buy" signal, according to BofA's contrarian market indicator. AdvertisementA contrarian indicator in the stock market is edging closer to a "buy" signal, according to Bank of America. The bank's Sell Side Indicator, a contrarian stock market gauge that flashes a bullish signal when investor sentiment is bearish, and vice versa, is now closer to a "buy" signal than a "sell" signal, strategists said in a note on Wednesday. The lower reading is a bullish sign for stocks, as the indicator is now just 3.3 percentage points away from flashing a "buy" reading, strategists said. Advertisement"The SSI has been a reliable contrarian indicator - in other words, it has been bullish when Wall Street was extremely bearish, and vice versa," the bank wrote.

Persons: —, Stagflation Organizations: Service, Bank of America, SSI

The American right’s growing embrace of Orbán builds upon millions of dollars that his government has spent on lobbying in the US, and new connections between Hungarian and American conservative think tanks. “Make America great again, make Europe great again!” Orbán declared in English, before continuing in Hungarian: “Go Donald Trump! Conservatives from around the US, Europe and beyond traveled to Budapest for the two-day event, which was organized by a Hungarian government-funded think tank. Two American nonprofits that are actively planning policies for a second Trump term have shown an interest in Hungary and Orbán’s model. But some of the American conservatives who flew into the country for CPAC seemed more focused on the optics of Budapest than on democratic rights.

Persons: crackdowns, “, Viktor Orbán, Orbán, Donald Trump’s, ” Orbán, Donald Trump !, ” Trump, ”, Trump, Steve Bannon, President Trump, Gladden Pappin, Szilard Koszticsak, White, ” Pappin, “ saviors, Bannon, Kari Lake, Mark Meadows, Andy Harris, Zoltan Mathe, Paul Gosar, Christopher Rufo, István, Ron DeSantis, Trumpists, Kim Lane Scheppele, Orbán’s, Zsuzsanna Szelényi, ” Szelényi, Márton Gulyás, influencers strode, Joey Mannarino, ” Kyung Lah, Anna, Maja Rappard, Casey Tolan, Curt Devine Organizations: Hungary CNN —, Republican, Conservative, Trump, European Union, Hungarian Institute of International Affairs, Conservative Political, “ Conservative, White House, ”, Republican Arizona, CNN, Department of Justice, Southern Poverty Law, Heritage Foundation, America, Policy Institute, Institute, Florida Gov, Princeton Locations: Budapest, Hungary, American, Europe, Lago, Dallas, America, Hungarian, Arizona, United States, Paul Gosar of Arizona, Florida, “ Hungary, marveled, New York, Washington

☆ Amazon, Starbucks show how jittery US customers are about the economy
▼ + stars: | 2024-05-01 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

Starbucks CEO Laxman Narasimhan said the coffee chain's customers were growing more cautious. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUS consumers are becoming more prudent with their spending, executives at Amazon and Starbucks said on Tuesday. "A challenging macro environment including rising interest rates and elevated costs continues to create volatile consumer confidence levels and put pressure on consumer spending," Borden said then. Representatives for Amazon and Starbucks didn't immediately respond to requests for comment from BI sent outside regular business hours.

Persons: Brian Olsavsky, Laxman Narasimhan, —, Olsavsky, Narasimhan, Ian Borden, Borden Organizations: Starbucks, Service, Amazon, Bank of America, BI

☆ Super Micro plummets 15% after posting revenue miss
▼ + stars: | 2024-05-01 | by ( Alex Koller | ) www.cnbc.com time to read: +2 min

The Super Micro Computer logo is seen on a smartphone screen. Super Micro Computer shares plunged 15% on Wednesday after the server company upped its top-line guidance but reported third-quarter revenue that slightly missed estimates. Super Micro hiked its fiscal 2024 revenue forecast to between $14.7 billion and $15.1 billion, exceeding the $14.6 billion expected, per LSEG. Super Micro joined the S&P 500 in March. Also on Tuesday, Wells Fargo analysts, maintaining an equal weight rating on Super Micro stock, dropped their price target from $960 to $890.

Persons: Wells, SMCI, — CNBC's Michael Bloom Organizations: Micro Computer, LSEG, Micro, Dell, Hewlett Packard Enterprise, Nvidia, Bank of America, JPMorgan, Barclays

☆ Americans were paid an additional $235 billion in interest in 2023, thanks to the Fed
▼ + stars: | 2024-05-01 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

High-yield savings accountsThe average interest rate on regular bank savings accounts is roughly 0.5% but can run as low as 0.01% at the biggest banks. By contrast, the average on high-yield savings accounts is well over 4%, according to DepositAccounts.com. If you leave it parked in a regular savings account at 0.5%, you’ll get $50 in interest for a year. As with any savings account, banks can lower the rate they offer — also known as the APY — at any time. Money market accounts and money market fundsAlthough money market deposit accounts and money market mutual funds are both generating yields competitive with the best high-yield savings accounts, there are important differences.

Persons: —, It’s, ”, Greg McBride, you’ll, McBride, “, ” McBride, Ben Bakkum, Collin Martin, Martin Organizations: New, New York CNN, Federal Reserve, Federal Deposit Insurance Corporation, FDIC, National Credit Union Share Insurance, Securities Investor Protection Corporation, Treasury, Fed, Schwab Center, Financial Research Locations: New York, Schwab.com, United States

☆ Bank of America says buy this dip ahead of a summer market rally
▼ + stars: | 2024-04-30 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Investors shouldn't get too scared by the recent market pullback, according to Bank of America. The firm believes the recent downside movement is a promising entry point before the market returns to green this summer. April marks the worst month for the S & P 500 since September 2023 as investors' expectations for rate cuts fell on hot economic data. As of Tuesday morning, the S & P 500 was last trading around 5,100. The S & P 500 has tested its 5,000 support level, Suttmeier added.

Persons: Stephen Suttmeier, Suttmeier, — CNBC's Michael Bloom Organizations: Bank of America Locations: upsides

☆ Interest rates: It’s a mystery when the Fed will begin to cut them
▼ + stars: | 2024-04-30 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington CNN —Nowadays, it’s anyone’s guess when the Federal Reserve will begin to cut interest rates this year — if at all. Fed officials are meeting this week, starting Tuesday, to discuss rates and set policy. That guidance will be key for market observers who clearly have divergent views on interest rates. Forecasts from major Wall Street banks on the first rate cut are all over the place: JPMorgan and Goldman Sachs expect the first cut in July, while Wells Fargo is betting on September. Some Fed policymakers, meanwhile, have even floated the possibility of a rate hike, instead of a cut.

Persons: Goldman Sachs, Wall, Liz Ann Sonders, Charles Schwab, Jerome Powell, “, ” Kathleen Grace, John Towfighi, That’s, nearshoring, Alberto Ramos, Ramos, Morgan Stanley, Read, Cindy Westman, —, Brian Fung, Jason Carroll, I’ll, ”, Westman, ’, Westman — Organizations: CNN Business, Bell, Washington CNN, Federal Reserve, JPMorgan, Bank of America, CNN, Labor Department, Manufacturing, Commerce Department, Program, Social Locations: Washington, Wells, Mexico, —, China, United States, Eureka , Illinois

☆ Tesla's plans to launch full self-driving tech in China could add $2 billion in earnings by 2030 and boost its stock
▼ + stars: | 2024-04-30 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Tesla's roll out of full-self driving technology in China could earn it over $2 billion by 2030, Bank of America said. AdvertisementTesla's success in getting China to approve its full self-driving technology could rev up the firm's earnings this decade, Bank of America said. AdvertisementOnce the technology rolls out, Tesla could charge Chinese FSD users around $99 a month, based on its US pricing. Rising competition in the country could spur Tesla to do this. Aside from the China FSD deal, Tesla's stock will also benefit from the August Robotaxi event, a fresh product in 2025, and the possible licensing of FSD.

Persons: Tesla, —, Elon Musk's Organizations: Bank of America, Service, ., Baidu, Tesla, . Bank of America Locations: China, Beijing, .

☆ Earnings to be a key driver of equities this year: Merrill's Marci McGregor
▼ + stars: | 2024-04-30 | 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 EmailEarnings to be a key driver of equities this year: Merrill's Marci McGregorLauren Goodwin, New York Life Investments economist, and Marci McGregor, senior investment strategist for the chief investment office at Merrill and Bank of America Private Bank, join 'Closing Bell' to discuss markets, the Fed, and the potential of the rally resuming.

Persons: Merrill's Marci McGregor Lauren Goodwin, Marci McGregor Organizations: New York Life Investments, Bank of America Private Bank Locations: New York, Merrill

☆ Yen clings to sharp gains after suspected intervention, Fed in focus
▼ + stars: | 2024-04-30 | by ( ) www.cnbc.com time to read: +3 min

The yen held its line against the dollar on Tuesday after making sharp gains the previous day in moves that traders said were sparked by suspected intervention by Japanese authorities. "There is clearly a possibility that the sharp and sudden lifts in the JPY were sparked by intervention. Official figures that would reveal whether intervention did in fact occur won't be available until late May. The Japanese currency still sits lower than it was before the Bank of Japan's policy announcement last week. The Fed is expected to strike a hawkish message, meaning more yen selling is likely, CBA's Kong said.

Persons: haven't, Masato Kanda, Carol Kong, bode, CBA's Kong, pare, Sterling, bitcoin Organizations: Federal, Commonwealth Bank of Australia, Trading, Markets, Bank of, Fed, Traders, European Central Bank Locations: Buenos Aires, Argentina, Tokyo, Asia, Japan, U.S, Bank of England

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