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☆ Bill Ackman likely to back Donald Trump for president after supporting RFK Jr., Nikki Haley
▼ + stars: | 2024-05-30 | by ( Brian Schwartz | ) www.cnbc.com time to read: +2 min

Hedge fund executive and billionaire Bill Ackman has signaled to associates that he is likely to support Donald Trump for president over Joe Biden, according to a source familiar with the matter. Ackman previously financed Robert F. Kennedy Jr.'s campaign for president and Republican Nikki Haley's failed bid for the White House. If Ackman endorses Trump, he will join a growing crowd of Wall Street executives backing Trump over Biden. Blackstone CEO Steve Schwarzman recently said in a statement that he would support Trump. When asked at the time whether he would vote for Trump over Biden, Ackman said, "I'll make that decision when I have the choice."

Persons: Bill Ackman, David Rubenstein, Donald Trump, Joe Biden, Robert F, Kennedy Jr, Nikki Haley's, Ackman, Trump, Blackstone, Steve Schwarzman, Biden, Dean Phillips, Phillips Organizations: Pershing, Capital Management, White, Forbes, Financial Times, Wall Street, Biden, Trump, Republican, CNBC, Democratic, Commission Locations: New York

Here's a rapid-fire update on all 33 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Below $200 a share is the level we'd get interested in buying more Salesforce stock, Jim said. The industrial name will continue to be a beneficiary of the AI trade due to Eaton's booming data center business. Alphabet : If this mega-cap name experiences a move lower, investors should scoop up shares, Jim said. Nvidia : There's not much more to say about Nvidia in light of another blowout earnings report and the strong guidance accompanying it.

Persons: Jim Cramer's, Jim, Apple's, Goldman Sachs, Salesforce, We've, Danaher, he'd, Walt Disney, We're, Estee Lauder, Eaton, Ford, Motors, Mary Dillon's, It's, Linde, Eli Lilly, Mark Zuckerberg's, Morgan Stanley, we're, Stanley Black, we've, Wynn, Jim Cramer, Michael M Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Abbott Laboratories, Abbott Labs, Amazon Web Services, Broadcom, Dell, Samsung, Costco Wholesale, Coterra Energy, DuPont De Nemours, DuPont, The, Eaton, Ford, GE Healthcare, Honeywell, Jim, Linde, Microsoft, Nvidia, Palo Alto Networks, Palo Alto, Change, Procter & Gamble, Constellation Brands, Constellation, Modelo, Corona, Federal Reserve, TJX, Marshalls, Wynn Resorts, Jim Cramer's Charitable, Traders, New York Stock Exchange, Santiago, Getty Locations: China, Dover, Eaton, U.S, Maxx, HomeGoods, Wells Fargo, Macau, New York City

☆ AI mania is just 'typical bubble hype' like the crypto craze, says top economist Paul Romer
▼ + stars: | 2024-05-30 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Advertisement"Right now there's way too much confidence about the future trajectory of AI," Romer said. However, the economist argued there was not enough data available for the tech to keep progressing at the same pace. "It's just a lot of hype, the typical bubble hype where people are trying to cash in on the latest trend." Taken together, Romer and Kaltbaum see AI-linked stocks as hogging the market's gains — rightfully or not — and view the frenzy as a sign of problems ahead.

Persons: —, Paul Romer, Gee, Romer, Gary Kaltbaum, Kaltbaum Organizations: Service, Bloomberg, Business, World Bank, Boston College, Nvidia, Nike, Kaltbaum Capital Management, Fox Business

☆ Earnings Exchange: Salesforce, Dollar General & Foot Locker
▼ + stars: | 2024-05-29 | 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 EmailEarnings Exchange: Salesforce, Dollar General & Foot LockerCourtney Garcia, senior wealth advisor at Payne Capital Management, joins CNBC's 'The Exchange' to discuss stock trades: Salesforce, Dollar General, and Foot Locker.

Persons: Foot Locker Courtney Garcia, Locker Organizations: Payne Capital Management

☆ Jim Paulsen on why there's still more upside room to the markets
▼ + stars: | 2024-05-29 | 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 EmailJim Paulsen on why there's still more upside room to the marketsJim Paulsen, ‘Paulsen Perspectives’ author and former chief investment strategist for The Leuthold Group and Wells Capital Management, joins 'Squawk Box' to discuss the latest market trends, state of the economy, inflation outlook, interest rate path, and more.

Persons: Jim Paulsen, ‘ Paulsen Organizations: Leuthold, Wells Capital Management

☆ This cybersecurity stock is breaking out as industry rides the AI boom, according to the charts
▼ + stars: | 2024-05-28 | by ( Todd Gordon | ) www.cnbc.com time to read: +3 min

Crowdstrike (CRWD) is a best-in-class cybersecurity leader that is poised for a technical breakout from resistance, despite being richly valued. One of the top concerns for firms in a post-pandemic world of remote, at-home workers is cybersecurity. Plus, the industry will also benefit greatly from the generative AI and cloud computing boom. And the long-term outlook for cybersecurity stocks is quite bullish as we power into what Nvidia's Jensen Huang refers to as 'the next industrial revolution'. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: Cybersecurity, Morgan Stanley, Elliott, Nvidia's Jensen Huang, Todd Gordon, Gordon, CRWD Organizations: Alto Networks, Palo Alto Networks, Tactical Alpha, Edge, Inside Edge, Inside Edge Capital Management

☆ Nvidia's stock has an awful lot of growth ahead of it, says Advisors Capital's JoAnne Feeney
▼ + stars: | 2024-05-28 | 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 EmailNvidia's stock has an awful lot of growth ahead of it, says Advisors Capital's JoAnne FeeneyJoAnne Feeney, Advisors Capital Management partner and portfolio manager, joins 'Squawk on the Street' to discuss whether Nvidia's stock has gotten ahead of itself, competitors in Nvidia's space, and how to consider the sustainability of revenue growth for top AI companies.

Persons: Capital's JoAnne Feeney JoAnne Feeney Organizations: Capital Management

☆ Market has plenty of momentum as long as 10-year stays below 5%, says MAI's Chris Grisanti
▼ + stars: | 2024-05-28 | 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 EmailMarket has plenty of momentum as long as 10-year stays below 5%, says MAI's Chris GrisantiChris Grisanti, MAI Capital Management chief equity strategist, joins CNBC's 'The Exchange' to discuss market outlooks, his reaction to Tuesday's Treasury auction, and more.

Persons: Chris Grisanti Chris Grisanti Organizations: MAI Capital Management, Treasury

☆ Watch CNBC's full interview with MAI Capital's Chris Grisanti on interest rate forecasts
▼ + stars: | 2024-05-28 | 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 EmailWatch CNBC's full interview with MAI Capital's Chris Grisanti on interest rate forecastsChris Grisanti, MAI Capital Management chief equity strategist, joins CNBC's 'The Exchange' to discuss his outlooks on markets, Fed rate policy, and more.

Persons: Chris Grisanti Organizations: MAI, MAI Capital Management

☆ Three-Stock Lunch: Dell, Dupont De Nemours & Ralph Lauren
▼ + stars: | 2024-05-23 | 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 EmailThree-Stock Lunch: Dell, Dupont De Nemours & Ralph LaurenCourtney Garcia, Payne Capital Management senior wealth advisor, joins 'Power Lunch' to discuss plays for three stocks, including Dell, Dupont De Nemours, and Ralph Lauren.

Persons: Dupont, Dupont De Nemours, Ralph Lauren Courtney Garcia, Ralph Lauren Organizations: Dupont De, Payne Capital Management, Dell

The Haley rationale for backing TrumpAfter months of speculation, Nikki Haley said — in her first appearance since dropping out of the Republican presidential primary — that she would vote for Donald Trump, the man against whom she waged a sometimes scathing campaign. But it may provide cover to prominent donors like Ken Griffin who in recent weeks has suggested that he might come in from the cold and donate to Trump. Deep-pocketed Republicans flocked to Haley during the primary. “I think she is just what we need right now,” Langone said on Fox News. “What Trump put this country through the last three months of his presidency was disgraceful.”But donors are rethinking their aversion to Trump, who handily beat Haley and other rivals and is now leading President Biden in some polls.

Persons: Haley, Nikki Haley, —, Donald Trump, Ken Griffin, Griffin, Paul Singer, Henry Kravis, Barry Sternlicht, Cliff Asness, Stanley Druckenmiller, Ken Langone, Reid Hoffman, wasn’t Trump, Nikki, ” Sternlicht, ” Langone, Trump, Biden, White, Israel Organizations: Trump, Republican, PAC, Elliott Management, KKR, Starwood Capital, AQR Capital Management, Democratic, LinkedIn, Times, Fox News Locations: Gaza

☆ We're in a 'vibecession,' experts say. Here's how to invest accordingly
▼ + stars: | 2024-05-22 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

And yet, consumer sentiment recently sank to a six-month low. That disconnect is what Joyce Chang, JPMorgan's chair of global research, calls a "vibecession." On the flip side, the combination of higher interest rates and inflation have hit working-class Americans particularly hard. Many of these households have exhausted their savings and are now leaning on credit cards to make ends meet. "Every client we've been talking to over the last several months has brought up the concern of, they're worried about inflation, worried they can't spend money," Garcia said.

Persons: Joyce Chang, JPMorgan's, Chang, that's, Courtney Garcia, they're, Garcia Organizations: Federal, CNBC, Payne Capital Management Locations: U.S

☆ Inter Milan taken over by US investment firm Oaktree after Chinese owners fail to repay loan
▼ + stars: | 2024-05-22 | by ( Maisie Linford | Matias Grez | ) edition.cnn.com time to read: +2 min

CNN —US-based investment firm Oaktree Capital Management said on Wednesday it has “assumed ownership” of recently crowned Serie A champion Inter Milan. Inter’s Chinese owner, Suning, failed to repay a loan now worth €395 million ($428 million) that was taken out to help finance the club during the Covid pandemic. In a statement, Oaktree said: “We understand the great responsibility towards the community and the historical legacy of Inter. Mattia Ozbot/Inter/Getty ImagesAfter contacting Oaktree for comment on Zhang’s statement, the firm referred CNN to its press release. “As new owners, we recognize our responsibility to Inter Milan’s community, history and legacy,” Oaktree’s Alejandro Cano said in a statement.

Persons: Suning, Oaktree, “, Howard Marks, Steven Zhang, Mattia Ozbot, ” Oaktree’s Alejandro Cano Organizations: CNN, Oaktree Capital Management, Serie, Inter Milan, Inter, Club, Coppa Italia, Champions League, Europa League, Juventus Locations: Italy, Oaktree

☆ Charts show little fear of a market drawdown. So now may be a good time to hedge
▼ + stars: | 2024-05-21 | by ( Todd Gordon | ) www.cnbc.com time to read: +5 min

Breaking down the market charts The S & P 500 broke out above the 2021 highs of 4,820 in the first two weeks of this year. Again, I don't know. I don't know. And I'm content to come before you and say I don't know and we can't know. This measures how much premium is embedded in the at the money puts and calls in the S & P 500.

Persons: Todd Gordon, Gordon Organizations: Nvidia, Inside Edge, Inside Edge Capital Management

☆ Watch CNBC's full interview with Hayman Capital Management founder Kyle Bass
▼ + stars: | 2024-05-20 | 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 EmailWatch CNBC's full interview with Hayman Capital Management founder Kyle BassKyle Bass, Hayman Capital founder and CIO, joins 'Squawk Box' to discuss the death of Iran's president and foreign minister, the United States' new tariffs on China, and more.

Persons: Kyle Bass Kyle Bass Organizations: Hayman Capital Management, Hayman Capital Locations: United States, China

☆ A market-predicting strategist warns that chasing this record rally is a mistake — but investors can still score strong long-term gains by following this 6-part strategy
▼ + stars: | 2024-05-17 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

"We should be anticipating higher highs in the market," Lundgren, the chief market strategist at MOTR Capital Management & Research and a portfolio manager at Little Harbor Advisors, recently told Business Insider. The 28-year market veteran's upbeat sentiment is more widespread now than last fall, when the S&P 500 struggled mightily before a powerful end-of-year surge. There can be negative or positive stretches within an established bull or bear market, Lundgren noted. Only one of the ETFs tracking Lundgren's preferred sectors has beaten the S&P 500 (in dark blue) since late last summer. When adjusting for market cap, cyclicals have fared much better and have bested the equal-weight version of the S&P 500 in several cases.

Persons: —, David Lundgren, Lundgren, he'd, we've Organizations: Service, MOTR Capital Management & Research, Little Harbor Advisors, Business, Yahoo Finance, Yahoo

☆ Activist Boaz Weinstein says BlackRock funds are 'crushing shareholder rights'
▼ + stars: | 2024-05-17 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Boaz Weinstein, the hedge fund investor on the winning side of JPMorgan Chase's $6.2 billion, "London Whale" trading loss in 2011, is now taking on index fund giant BlackRock . The hedge fund wants board control at three BlackRock funds and a minority slate at seven others. BlackRock, Saba says in the deck, "considers itself a leader in governance, but is crushing shareholder rights." At certain BlackRock funds, for example, if an investor doesn't submit their vote in a shareholder meeting, their shares will automatically go to support BlackRock. The index fund manager's rebuttal, "Defend Your Fund," describes Saba as an activist hedge fund seeking to "enrich itself."

Persons: Boaz Weinstein, Saba, Weinstein, doesn't Organizations: Saba Capital Management, Bloomberg, JPMorgan Chase's, Weinstein's, CNBC, BlackRock, affirmatively Locations: New York, BlackRock, Weinstein's Saba, Saba

☆ Stanley Druckenmiller built a big bullish position in small-cap stocks last quarter
▼ + stars: | 2024-05-16 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Billionaire investor Stanley Druckenmiller revealed a big bullish position in small-cap stocks last quarter, according to a new regulatory filing. A call option gives an investor the right to buy an asset at a specified — or strike — price within a certain period. As of the end of March, Druckenmiller owned 31,579 call contracts with unknown value, strike price or expiry, according to the filing. The noted investor also took some profit in his big Nvidia bet last quarter by slashing the stake by more than 70%. Other than these changes, Druckenmiller added a sizable stake in semiconductor name Coherent , making it his eighth-biggest holding.

Persons: Stanley Druckenmiller, Russell, Druckenmiller, We've, I'm, Warren Buffett, George Soros Organizations: Duquesne Family Office, U.S . Securities, Exchange, Nvidia, CNBC, Quantum Fund, Duquesne Capital Management Locations: Duquesne

☆ 'This is what you live for': How to handle GameStop's jaw-dropping swings as meme stocks make a comeback, according to a momentum-obsessed technical strategist
▼ + stars: | 2024-05-15 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

He believes the stock market is rational — even when it doesn't appear to be. Related stories"The market is ruthlessly efficient, both long term and short term," Lundgren said. The strategist added: "The market doesn't care one iota about fundamentals in the short term. Like any market, stock exchanges determine prices based on what buyers and sellers will pay and sell for. Just because it's taking place in a mall doesn't make that mall an insane asylum."

Persons: —, Tuesday's, Redditors, David Lundgren, Lundgren, who's, that's, It's, Benjamin Graham, Mark Minervini Organizations: Service, GameStop, Business, Street, MOTR Capital Management & Research, Little Harbor Advisors, AMC

☆ GameStop, AMC extend gains but broader meme stock rally shows signs of fizzling
▼ + stars: | 2024-05-15 | by ( Vicky Mckeever | ) www.cnbc.com time to read: +1 min

GameStop and AMC logged further gains in premarket trading as the broader meme stock frenzy fizzled early on its third day, with Blackberry shares flat and Koss edging lower. Brick-and-mortar video game retailer GameStop was up 10.16% at 6:40 a.m. The meme stock craze resurged on Monday, seemingly reignited by a rare social media update from "Roaring Kitty." The return of the meme stock phenomenon brought GameStop and AMC shares up over 70% on Monday, with the stock extending gains into Tuesday. Speaking on CNBC's "Street Signs Europe" on Tuesday, Smead Capital Management CEO Cole Smead described the meme stock craze as "frankly stupid."

Persons: Keith Gill, Gill, Cole Smead, —, Yun Li Organizations: GameStop, AMC, BlackBerry, Massachusetts Mutual Life Insurance, Smead Capital

☆ Roaring Kitty's tweet sent GameStop spiking. The company's cofounder shares his outlook on where the stock is headed and advises hedge funds on how to navigate it.
▼ + stars: | 2024-05-15 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

There's no sense in this, said Gary Kusin, the cofounder of Babbage, the company to which GameStop traces its roots. Imagine if Taylor Swift's brand or company went public, and all the Swifties bought stock, the shares would be overvalued. What Wall Street doesn't understand is that there are Swifties in the video game industry. "If I worked on Wall Street, I would find some other stocks and some other places to go; I wouldn't touch GameStop." And I believe that's exactly what's ailing Wall Street right now," Kusin said.

Persons: Michael Burry, Keith Gill, Gary Kusin, Babbage, Kusin, It's, Taylor, Swifties, Shorting, doesn't, Citron, Brooks, Macy's Organizations: GameStop, Melvin Capital Management, Technology, S3 Partners

☆ ‘Frankly stupid’: Fund manager weighs in on reignited meme stock frenzy as GameStop soars
▼ + stars: | 2024-05-14 | by ( Vicky Mckeever | ) www.cnbc.com time to read: +1 min

Fund manager Cole Smead has described the meme stock craze as "frankly stupid," as day traders once again pile into GameStop and AMC . The jump was seemingly prompted by a post on social media platform X by "Roaring Kitty," who in 2021 encouraged an army of day traders to pile into GameStop. In premarket trading on Tuesday, shares in GameStop and AMC were up 47% and 51% respectively at 6 a.m. E.T. Quoting "the late, great Charlie Munger," Smead said the day traders were "just taking in rat poison." Munger, who passed away last year, was the vice chairman of Berkshire Hathaway and famously described cryptocurrency as "rat poison."

Persons: Cole Smead, You've, Roaring, Kitty, Keith Gill, E.T, Charlie Munger, Smead, Munger, Berkshire Hathaway, Yun Li, Fred Imbert Organizations: GameStop, AMC, Smead Capital Management, Massachusetts Mutual Life Insurance, Berkshire

☆ Saba Capital's Boaz Weinstein on BlackRock campaign
▼ + stars: | 2024-05-14 | 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 EmailSaba Capital's Boaz Weinstein on BlackRock campaignBoaz Weinstein, founder and chief investment officer at Saba Capital Management, joins CNBC's 'Squawk Box' to discuss their firm's fight against BlackRock over closed-end funds, how he sees the resurgence of meme stocks craze and more.

Persons: Saba Capital's Boaz Weinstein, Boaz Weinstein Organizations: BlackRock, Saba Capital Management

☆ Watch CNBC's full interview with Saba Capital's Boaz Weinstein
▼ + stars: | 2024-05-14 | 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 EmailWatch CNBC's full interview with Saba Capital's Boaz WeinsteinBoaz Weinstein, founder and chief investment officer at Saba Capital Management, joins CNBC's 'Squawk Box' to discuss their firm's fight against BlackRock over closed-end funds, how he sees the resurgence of meme stocks craze and more.

Persons: Saba Capital's Boaz Weinstein Boaz Weinstein Organizations: Saba Capital Management, BlackRock

☆ Hedge-fund manager Boaz Weinstein says meme stock rally makes 'mockery' of investing
▼ + stars: | 2024-05-14 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The meme stock craze is back , but hedge-fund titan Boaz Weinstein said he wants nothing to do with it. The resurgence of meme mania began late Sunday when " Roaring Kitty ," the man who first ignited the meme stock phenomenon through GameStop in 2021, posted on X for the first time since then. Beyond meme stocks, Weinstein said there's sure to be plenty of volatility in the "foggy" market in the months to come, citing inflation, geopolitics and the upcoming U.S. presidential election. When you put all that together … we're going to have a credit crunch in the next couple of years if things don't change." "Maybe in both cases, there's going to be plenty of volatility, and I'm quite excited for it," he added.

Persons: Boaz Weinstein, Weinstein, CNBC's, there's, … we're, Donald Trump Organizations: Saba Capital Management, GameStop, AMC

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