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☆ Stock market today: Dow hits record high, stocks notch 3-week win streak ahead of key jobs report
▼ + stars: | 2024-09-27 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

US stocks were mixed Friday, with the Dow closing at a record high while the S&P 500 and Nasdaq edged lower. All three major averages achieved a three-week win streak as investors cheer a resilient economy and cooling inflation. Investors await key jobs data next week, including the September jobs report on Friday morning. But the main event is next Friday, when the September jobs report is released. AdvertisementAccording to Interactive Brokers senior economist José Torres, the jobs report could have a big impact on the broader market.

Persons: —, Dow Jones, Clark Bellin, José Torres, Torres Organizations: Dow, Nasdaq, Service, Fed, Labor, Survey, ADP, Interactive Locations: Here's

☆ Eric Adams is showing up to court for the first time since his historic indictment
▼ + stars: | 2024-09-27 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +2 min

Eric Adams is appearing in court for the first time in his criminal case Friday. AdvertisementNew York City Mayor Eric Adams arrived in Manhattan federal court Friday morning, where he is expected to enter a plea in his sprawling criminal bribery case. Adams is being represented in his criminal case by Alex Spiro, Elon Musk's go-to lawyer. Spiro recently won an acquittal for Alec Baldwin in a criminal case over the "Rust" movie set shooting. AdvertisementHo took the bench in a year ago, and the indictment against Adams would be his first high-profile case as a judge.

Persons: Eric Adams, He's, Adams, —, Katherine Parker, Sean, Diddy, Combs, Alex Spiro, Elon Musk's, Spiro, Alec Baldwin, Dale Ho, Joe Biden, Ho Organizations: Prosecutors, Service, York City, of, Turkish, United, US, American Civil Liberties Union Locations: Turkey, York, Manhattan, Southern, of New York, United Nations

☆ The S&P 500 hit multiple records this week, but it's still Nvidia's market
▼ + stars: | 2024-09-27 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

The S & P 500 earned three records this week alone. The S & P 500 is also moving in tandem with de facto market leader Nvidia , which advanced 4.6% on the week. Meanwhile four sectors in the S & P 500, real estate, financials, energy and health care, all ended the week lower. .SPX NVDA 5D mountain The S & P 500 still ended the week higher despite a slight pullback in gains on Friday. The month is typically the worst stretch of the year, but so far the S & P 500 is ahead 1.6%.

Persons: Michael Rosen, NVDA, Lori Calvasina, Calvasina, CNBC's Organizations: Nvidia, Equity, Angeles Investments, Macro, Nasdaq, Dow Jones, RBC Capital Markets

☆ China cuts banks' reserve ratio as economic growth sputters
▼ + stars: | 2024-09-27 | by ( ) www.cnbc.com time to read: +1 min

The People's Bank of China (PBOC) building in Beijing, China, on Tuesday, April 18, 2023. Source: BloombergChina's central bank said on Friday it would cut the amount of cash that banks must hold as reserves by 50 basis points, the second reduction this year aimed at bolstering faltering economic growth. The People's Bank of China said it would cut the reserve requirement ratio for all banks, except those that have implemented a 5% reserve ratio. "The PBOC has adhered to a supportive monetary policy stance, increased the intensity of monetary policy regulation and control, and improved the precision of monetary policy regulation and control, so as to create a favourable monetary and financial environment for China's stable economic growth," its statement said. But analysts have noted businesses and consumers have little appetite to take on fresh debt given the uncertain economic outlook.

Persons: Pan Gongsheng, Pan Organizations: People's Bank of China, Bloomberg, PBOC, People's Bank of Locations: Beijing, China, People's Bank of China

☆ New York City taxpayers aren't footing the bill for Eric Adams' criminal corruption case
▼ + stars: | 2024-09-27 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +2 min

Eric Adams hired Alex Spiro — also Elon Musk's lawyer — to represent him in his criminal case. But taxpayers aren't paying for the criminal defense bills, a city spokesperson said. AdvertisementNew York City taxpayers aren't on the hook for the legal bill in Eric Adams' federal bribery case, a spokesperson for the mayor confirmed to Business Insider. For that case, Spiro was billing the city for his work — though reportedly charging only $250 per hour instead of the $2,025 per hour rate he's charged other clients. But New York City's coffers aren't being emptied for Spiro's work in the criminal case against Adams, according to Fabien Levy, the city's deputy mayor for communications.

Persons: Eric Adams, Alex Spiro —, Elon Musk's, —, Spiro, Adams, Alex Spiro, Elon Musk, Alec Baldwin, Fabien Levy, Levy, Alex Spiro didn't Organizations: Service, aren't, Business Locations: York City, Manhattan, York, Turkey

☆ Hurricane Helene was less horrific than Floridians feared. But Sunshine State homeowners still face an insurance crisis.
▼ + stars: | 2024-09-27 | by ( Erin Snodgrass | Jordan Pandy | ) www.businessinsider.com time to read: +5 min

Hurricane Helene made landfall in Florida Thursday, leaving less damage than initially feared. Sky-high insurance premiums and extreme weather have already prompted some Floridians to move. Multiple home insurance providers have left the state entirely, and longtime Floridians have started to get priced out of coastal towns. According to an analysis of US Census data by NBC News, around 18% of homeowners in Florida are without home insurance. AdvertisementThe amount of damage a storm causes typically affects insurance premiums.

Persons: Helene, —, Floridians, John, Natalia, Hurricane Idalia, Mark Friedlander Organizations: Service, National Hurricane Center, NBC News, USA, California ., Sunshine State, Capital Economics, Business, Hurricanes, Dade, Insurance, Insurance Information Institute, Tampa Bay Times Locations: Florida, Florida , Georgia, South Carolina, North Carolina, California, California . Florida, Insurify, Dell Prairie , Wisconsin, Plantation , Florida, Fort Lauderdale, Florida's panhandle, Miami, Dade County, Broward County, Leon County, Tallahassee

☆ What’s fueling this week’s record-breaking stock rally
▼ + stars: | 2024-09-27 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

New York CNN —The stock market is racking up record highs again. Investors are wasting no time moving into riskier assets from bitcoin to tech stocks after last week’s long-awaited rate cut from the Federal Reserve. Fresh data this week has offered further encouragement that the economy is on solid footing. Applications to refinance a mortgage soared 20% last week from the prior week, according to Mortgage Bankers Association data. Meanwhile, tech shares have continued to gain this week on rate cut optimism and after Micron reported strong earnings.

Persons: Dow, FactSet, ”, Gregory Daco, Freddie Mac, Bitcoin Organizations: New, New York CNN, Federal Reserve, Dow, Nasdaq, Federal, Mortgage Bankers Association, Investors, Employers, Micron, Nvidia, Meta, Financial Times Locations: New York, China, Saudi Arabia

☆ We're trimming this healthcare stock as it hits new highs Friday — here's why
▼ + stars: | 2024-09-27 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

We are selling 75 shares of GE Healthcare at roughly $93.86. Following the trade, Jim Cramer's Charitable Trust will own 925 shares of GEHC, decreasing its weighting to 2.5% from 2.72%. After further contemplation since the Morning Meeting , we are trimming our position in GE Healthcare. It's been the second best-performing healthcare stock in the S & P 500 this past month, rallying roughly 11% to put its year-to-date gains at 21%. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, It's, Jim Cramer, Jim Organizations: GE Healthcare, UBS, GE, CNBC, Traders, NYSE Locations: China

☆ LVMH's Bernard Arnault set to overtake Mark Zuckerberg as the world's 3rd-richest person after $24 billion wealth surge
▼ + stars: | 2024-09-27 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Bernard Arnault's net worth has soared by $24 billion in four days to $201 billion. The LVMH CEO is set to leapfrog Mark Zuckerberg and become the world's third-richest person. AdvertisementBernard Arnault has grown $24 billion richer in four days — and looks set to overtake Mark Zuckerberg as the world's third-richest person. He was the richest person on the planet with a $231 billion net worth in late March. AdvertisementThe decline in LVMH stock this year has narrowed from about 20% to 5%, meaning it's no longer languishing at a two-year low.

Persons: Bernard Arnault's, Mark Zuckerberg, —, Bernard Arnault, leapfrog Zuckerberg, Larry Ellison, He's, who's, Louis Vuitton, Dom Perignon Champagne Organizations: Service, Dior, Tiffany, Oracle, LVMH Locations: China, Moncler, Cashmere, Japan

☆ Stock market today: US indexes gain after soft inflation report supports more rate cuts
▼ + stars: | 2024-09-27 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks rose after cool inflation data suggested more room for Federal Reserve rate cuts. The personal consumption expenditures price index increased 0.1% in August, matching estimates. AdvertisementUS stocks rose on Friday after cool inflation data suggested that the Federal Reserve has more room to cut interest rates. The personal consumption expenditures price index, which is considered the Fed's preferred inflation measure, increased 0.1% in August, in-line with economist estimates. On a year-over-year basis, the PCE Index rose 2.2%, slightly below economist estimates of 2.3%.

Persons: —, Clark Bellin, Bellin, Sonu Varghese, that's, Varghese Organizations: Federal, Service, Federal Reserve, Bellwether Wealth, Business, Carson Group, Here's

☆ Van Goghs attacked again in London hours after Just Stop Oil activists sentenced
▼ + stars: | 2024-09-27 | by ( ) www.cnbc.com time to read: +2 min

Supporters of Phoebe Plummer and Anna Holland protest in front of Southwark Crown Court on September 27, 2024 in London, England.] Three Just Stop Oil activists threw soup at two of Vincent van Gogh's "Sunflowers" paintings in London's National Gallery on Friday, just hours after two other members of the protest group were jailed for doing the same thing in 2022. The activists threw tomato soup at the "Sunflowers" owned by the London Gallery, and another from the series that is on loan from Philadelphia Museum of Art for a temporary exhibition. The National Gallery said three people had been arrested and the paintings were unharmed. Activists from Just Stop Oil have staged a number of eye-catching protests in recent years, including disrupting sporting events, theatre performances and road traffic.

Persons: Phoebe Plummer, Anna Holland, Vincent van, Plummer, Holland, Christopher Hehir, Roger Hallam Organizations: Southwark Crown, Oil, London, Philadelphia Museum of Art, London's, London's Southwark Crown Court Locations: Southwark, London, England, London's Southwark, Britain, Europe

☆ Israel says it struck Hezbollah’s headquarters as huge explosions rocked Beirut
▼ + stars: | 2024-09-27 | by ( ) www.cnbc.com time to read: +3 min

The strike in the Beirut suburb of Dahiyeh came shortly after Israeli Prime Minister Benjamin Netanyahu addressed the U.N., vowing that Israel's campaign against Hezbollah would continue. The Israeli army spokesman, Rear Adm. Daniel Hagari, said it targeted the main Hezbollah headquarters, located beneath residential buildings. Hezbollah's Al-Manar TV said four buildings were reduced to rubble in the blast, so powerful it rattled windows and shook houses some 30 kilometers north of Beirut. Israel has moved thousands of troops toward the border in preparation. At the U.N., Netanyahu vowed to "continue degrading Hezbollah" until Israel achieves its goals, further dimming hopes for an internationally backed cease-fire.

Persons: Benjamin Netanyahu, Daniel Hagari, Hezbollah's, Netanyahu, Firass Abiad Organizations: Hezbollah, Hamas Locations: Beirut, Dahiyeh, Lebanese, Lebanon, Israel, Gaza, Israel's, Sidon, Nabatiyeh, Tiberias

☆ Dollar drifts, risk-sensitive currencies lifted by China optimism
▼ + stars: | 2024-09-27 | by ( ) www.cnbc.com time to read: +4 min

The dollar wobbled on Friday, poised for a fourth straight week of declines as investors weighed U.S. data to gauge the pace of interest rate cuts, while China's spree of stimulus measures kept risk-sensitive currencies aloft. The dollar wobbled on Friday, poised for a fourth straight week of declines as investors weighed U.S. data to gauge the pace of interest rate cuts, while China's spree of stimulus measures kept risk-sensitive currencies aloft. "This suggests a more cautious approach to interest rate cuts, prioritizing a balance between the Fed's employment mandate and keeping an eye on inflation risks." The risk-sensitive Australian and New Zealand dollars also held near multi-year highs due to China stimulus plans. AUD/On Thursday, China's leaders pledged to support the struggling economy through "forceful" interest rate cuts and adjustments to fiscal and monetary policies, stoking expectations for more stimulus.

Persons: Ryan Brandham, Sterling, China's Organizations: Federal Reserve, North America, Validus Risk, New, Communist Party, ING Locations: U.S, China, New Zealand

☆ European markets head for higher open as investors weigh global economic outlook
▼ + stars: | 2024-09-27 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

LONDON — European markets headed for a higher open on Friday as investors weighed the outlook for the economy and looked to fresh data. European stocks had climbed Thursday, with the pan-European Stoxx 600 closing 1.25% higher after being boosted by gains in Asia-Pacific markets. Those widely continued their climb on Friday, still buoyed by China's announcement of stimulus measures earlier in the week. Economists are expecting headline PCE to have risen 2.3% on an annual basis and 0.1% from the previous month. Back in Europe, preliminary inflation data for September is expected out of France, and the latest German unemployment data is also due.

Persons: Germany's DAX Organizations: CAC, MIB, LONDON, People's Bank of, PCE Locations: Asia, Pacific, People's Bank of China, U.S, Europe, France

☆ Here are Friday's biggest analyst calls: Apple, Dell, Wynn, Walmart, Best Buy, Costco, Netflix & more
▼ + stars: | 2024-09-27 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Piper Sandler upgrades Accenture to overweight from equal weight Piper upgraded the IT company following its earnings report. Goldman Sachs reiterates Costco as buy Goldman says it's sticking with the stock following earnings on Thursday. Citi downgrades Dollar General to sell from neutral Citi says it sees too many competitive challenges. JPMorgan adds Best Buy to the focus list JPMorgan says it sees an "improving product cycle" for Best Buy. Bank of America downgrades HP to neutral from buy The firm says it sees slowing earnings per share growth.

Persons: Morgan Stanley, Wynn, Piper Sandler, Piper, Goldman Sachs, Goldman, it's bullish, it's, Raymond James, Mercado, Roth MKM, Roth, Cantor Fitzgerald Organizations: Wynn Resorts, Deutsche Bank reinstates Dell, Deutsche, DELL, NASDAQ, Costco, " Bank of America, Apple, Bank of America, Apple Intelligence, UBS, Vista Energy, Citi, Pepsi Citi, Catalyst, Walmart, Cava, Mercado Libre, JPMorgan, Chesapeake Energy, Barclays, Netflix, HP Locations: UAE, Macau, BMBL, CAVA, HPQ

☆ Watch Friday's full episode of the Halftime Report — September 27, 2024
▼ + stars: | 2024-09-27 | 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 Friday's full episode of the Halftime Report — September 27, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.

Persons: CNBC's Scott Wapner Organizations: CNBC PRO

☆ U.S. charges three Iranian nationals in Trump campaign hack
▼ + stars: | 2024-09-27 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

United States Capitol building and an Iranian flag are seen at the photo exhibition organized by the Iranian-American community and supporters of the Iranian Resistance at the National mall in Washington D.C., United States. Federal prosecutors on Friday announced criminal charges against three Iranian nationals in connection with a recent hack of Republican presidential nominee Donald Trump's campaign and other cyberattacks. The charges come amid heightened scrutiny about how foreign actors, especially Iran, China and Russia, are trying to influence the American presidential race between Trump and Democratic nominee Kamala Harris. Officials have said that Iran is working to hurt Trump's campaign, while Russia prefers Trump, who has declined to say he wants Ukraine to win its war against invading Kremlin forces. China, meanwhile, has pushed anti-democracy influence operations but has not clearly sided with either the Republican or Democratic tickets, officials have said.

Persons: Donald Trump's, General Merrick Garland, Masoud Jalili, Seyyed Ali Aghamiri, Yasar, Kamala Harris ., Trump's, Garland, Friday's presser Organizations: Capitol, Iranian, National, Washington D.C, Islamic Revolutionary Guard Corps, Washington , D.C, U.S, Trump, Democratic, NBC News, Kremlin, Republican Locations: Iranian, Washington, United States, Washington ,, U.S, Iran, China, Russia, Ukraine

☆ U.S. crude oil heads for weekly loss as Saudi supplies look set to return
▼ + stars: | 2024-09-27 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

U.S. crude oil on Friday was on pace for its first weekly loss in three weeks, as the prospect of growing oil supplies from Saudi Arabia overshadowed China's efforts to stimulate its economy. The U.S. benchmark West Texas Intermediate is down nearly 6% this week, while global benchmark Brent has pulled back nearly 4%. OPEC+ recently postponed planned output hikes from October to December, but analysts have speculated that the group might delay the hikes again because oil prices are so low. The oil selloff erased gains from earlier in the week after China unveiled a new round of economic stimulus measures. Soft demand in China has been weighing on the oil market for months.

Persons: there's, Dan Yergin, CNBC's, There's, Yergin Organizations: Texas, Brent, P Global, Oil Locations: Saudi Arabia, U.S, Israel, Lebanon, OPEC, China

☆ Sean ‘Diddy’ Combs accused of drugging and sexually assaulting a woman in new civil lawsuit
▼ + stars: | 2024-09-27 | by ( Elizabeth Wagmeister | ) edition.cnn.com time to read: +4 min

CNN —Sean “Diddy” Combs has been accused of drugging and sexually assaulting a woman in another civil lawsuit, marking at least the 12th misconduct lawsuit he’s faced in as many months. “At every visit, Defendant Combs would make her ‘perform a show’ for him and would ply her with alcohol and substances until she passed out,” the suit states. In July 2024, according to the complaint, Combs “commanded” Jane Doe to his home in Miami, Florida, and “shoved two pills in Jane Doe’s mouth” upon her arrival. The complaint states Doe feared for her safety after witnessing Combs physically abuse other women. Combs has been accused in about a dozen civil lawsuits of alleged sexual misconduct and other illegal activity.

Persons: Sean “ Diddy ” Combs, drugging, he’s, Jane Doe, Combs, “, ” Combs “, Doe “, Doe, Combs “, ” Jane Doe, Jane Doe’s, ”, John, ” Marie Napoli, Joseph L, Ciaccio, Sean ‘ Diddy ’ Combs Organizations: CNN Locations: New York, Miami , Florida

☆ Japan's new prime minister could try to shake up the country's military pact with the US
▼ + stars: | 2024-09-27 | by ( Hannah Abraham | Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

Shigeru Ishiba is set to be appointed Japan's prime minister on Tuesday. Ishiba has previously suggested that Japan's military pact with the US should be overhauled. AdvertisementShigeru Ishiba, a former defense and agriculture minister, is set to become Japan's next prime minister. AdvertisementHis leadership is likely to transform Japan's military alliance with the US, as well as have wider implications for the region's security. However, Japan's military is beset by recruiting challenges and is experiencing manpower shortages.

Persons: Shigeru Ishiba, Japan's, Ishiba, —, Fumio Kishida Organizations: Liberal Democratic Party, Service, LDP, Reuters, Wall Street, Washington, Foreign Relations, NATO, Guardian, Japan's Yomiuri Locations: Japan, Taiwan, China

Wang, chief China equity strategist at Morgan Stanley, told CNBC's " Street Signs Asia " Friday that the index could rise by another 10%. But she cautioned that more details on Beijing's recent economic stimulus measures were needed for a sustained rally. Chinese stocks rose further after Beijing on Thursday called for halting the real estate slump and a strengthening of monetary and fiscal policy. He said he's bought more Chinese stocks since. "After the break, we would really like to see as soon as possible the execution details on the physical spending and on the market stabilization measures," Wang said.

Persons: Morgan Stanley's Laura Wang, Wang, Morgan Stanley, CNBC's, Goldman Sachs, David Tepper, he's Organizations: CSI Locations: Shanghai, Shenzhen, China, Beijing

Deutsche Bank reinstated Dell Technologies as a buy, calling for nearly 14% upside. 7:04 a.m.: Citi says Walmart remains a top pick, hikes price target Walmart is poised for more growth ahead, according to Citi. The firm upgraded the stock to overweight from neutral and raised its price target by $66 to $395. WYNN mountain 2024-08-30 WYNN month to date — Sean Conlon 5:49 a.m.: Deutsche Bank reinstates Dell Technologies as buy The stars are aligning for Dell Technologies , according to Deutsche Bank. Analyst Matt Niknam resumed coverage of the PC maker with a buy rating and a price target of $144, which implies upside of nearly 14%.

Persons: Morgan Stanley, Paul Lejuez, — Sean Conlon, Piper Sandler, Accenture Piper Sandler, Arvind Ramnani, GenAI, Ramnani, Sean Conlon, Bumble, Justin Patterson, Patterson, Stephen Grambling, WYNN's, they've, Matt Niknam, Niknam, DELL, Fred Imbert Organizations: CNBC, Deutsche Bank, Dell Technologies, Wynn Resorts, Citi, Walmart, Accenture, Markets, Wynn, Las, MGM Resorts, Caesars Entertainment, Deutsche Bank reinstates Dell Technologies, DELL, Dell Locations: Grambling, UAE, WYNN

☆ Friday, September 27, 2024: The Club breaks down the bullish analyst call for this retailer
▼ + stars: | 2024-09-27 | by ( ) www.cnbc.com time to read: 1 min

Friday, September 27, 2024: The Club breaks down the bullish analyst call for this retailerJeff discusses the earnings numbers for this consumer staple. He also talks about the analyst call for this consumer discretionary stock. Finally, he break down the rough quarter for this financial stock.

Persons: Jeff

☆ The Wrap-Up for Friday September 27
▼ + stars: | 2024-09-27 | 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 Wrap-Up for Friday September 27The top headlines that could drive today's trading.

☆ Move aside, AI: None of our top 5 stocks in the third quarter are in tech
▼ + stars: | 2024-09-27 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

The best-performing Club stocks during the topsy-turvy third quarter are all outside the "Magnificent Seven" and AI-winner complexes. Starbucks: 25.2% New CEO Brian Niccol is the reason why Starbucks' stock is on the list. Best Buy: 18.6% The electronics retailer is another rate-cut winner: More people moving means more purchases of appliances and TVs. In fact, the reasons to own Best Buy are underappreciated by investors, JPMorgan analysts said in a note to clients Friday. Like Stanley Black & Decker and Best Buy, Home Depot is a beneficiary of increased housing sector activity.

Persons: —, Stanley Black, Decker, Brian Niccol, Eli Lilly, Lilly, there's, Jim Cramer's, Jim Cramer, Jim, Donald Allan , Jr, Chris Taylor Organizations: Reserve, Starbucks, Deutsche Bank, GE Healthcare, Novo Nordisk, Abbott Laboratories, Abbott Labs, GE, JPMorgan, CNBC, The New York Stock Exchange, NYSE Global Locations: U.S, China

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