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The market's turn toward treating good economic news as positive for stocks is pictured here in a chart from Citi strategists, showing the three-month correlation between the S & P 500 and the Citi U.S. Economic Surprise index has turned sharply higher. The S & P 500's low for the week was Wednesday morning, right at the 5400 level where it previously hit a low a week ago Friday after a tepid employment report. Forward 12-month S & P 500 earnings forecasts continue to rise smartly, now approaching $270. But, thanks to the past two months of sideways churn, that's down from 21.7 when the S & P first hit its current level in July. And the rally last week could well have front-run any potential positive inference from the Fed's move next week.
Persons: Ally Financial, Ed Hyman, Loretta Mester, William Dudley, John Kolovos Organizations: Citi, Citi U.S, Fed, Ally, CPI, Wall Street, Financial Times, Treasury, National Association of Active Investment, American Association of
Leading technology stocks led an eye-popping rebound rally the past five days, driving a key ETF texchange traded fund to one of its best weeks in years. The Technology Select Sector SPDR Fund (XLK) surged 8.2% this week, the most since Nov. 11, 2022, when the fund gained 10.04%. XLK YTD mountain Technology Select Sector SPDR Fund (XLK) performance this year. Investors can thank a bounce back in megacap technology and semiconductor stocks this week that lifted all three major U.S. stock indexes. That alone suggests semiconductor stocks have lost their leadership status, at least for now, Turnquist said.
Persons: ChatGPT, Jensen Huang, Blackwell, Goldman Sachs, Adam Turnquist, Turnquist Organizations: texchange, Microsoft, Nvidia, Technology, Apple, Apple Watch, Semiconductor, Broadcom, LPL Financial, PHLX Semiconductor Locations: XLK
Oracle 's best week on the stock market since 2021 has bolstered Chairman Larry Ellison's net worth, briefly edging him past Amazon founder Jeff Bezos on Friday to become the world's second-richest person. Ellison's net worth reached $208.4 billion shortly after the market open, then fell to $199 billion, according to Forbes' real-time billionaires list. Bezos, who has claimed the title of world's second-richest person on and off over the years, is worth $205 billion. Bezos, 60, and Ellison, 80, are jockeying for the title of world's second-richest person three days after their companies forged a new partnership. "With Oracle Database to be able to run AWS, Microsoft and Google, is incredibly important," Ellison said on the call.
Persons: Larry Ellison's, Jeff Bezos, Forbes, Elon Musk, Ellison, Oracle, Jordan Novet, Ari Levy Organizations: Amazon, Oracle, Nvidia, Microsoft, Google Locations: Las Vegas
(This is CNBC Pro's live coverage of Friday's analyst calls and Wall Street chatter. A biotech stock and an energy company were among the names being talked about by analysts on Friday. — Sean Conlon 6:19 a.m.: Pivotal says buy TKO Group A competitive media landscape could mean gains for TKO Group , according to Pivotal Research Group. TKO Group shares are up nearly 41% year to date. TKO YTD mountain TKO in 2024 — Sean Conlon 5:49 a.m.: JPMorgan downgrades Moderna to underweight JPMorgan sees a rocky road ahead for Moderna .
Persons: Raymond James, Srini Pajjuri, — Sean Conlon, Jeffrey Wlodarczak, Jessica Fye, Fye, it's, Ameet, Thakkar, he's, Fred Imbert Organizations: CNBC, JPMorgan, Moderna, BMO Capital Markets, GE Vernova, ARM, Research, JPMorgan downgrades Moderna, Food and Drug Administration, BMO, GE, General, Gas Power, General Electric Locations: Thursday's
CNBC's Jim Cramer on Thursday listed the CEOs he trusts even when the market doesn't, primarily naming executives from top tech companies. Cramer said investors shouldn't doubt solid companies every time a negative data point surfaces. Cramer said he's giving Amazon 's Andy Jassy, Broadcom 's Hock Tan and Nvidia 's Jensen Huang "the benefit of the doubt." Tech stocks can be hampered by investors who don't completely understand the companies' operations or trajectories, according to Cramer. "In tech, the complexity is such that Wall Street often reaches conclusions that have little to do with reality."
Persons: CNBC's Jim Cramer, Cramer, he's, Andy Jassy, Hock Tan, Jensen Huang Organizations: Dow Jones Industrial, Nasdaq, Broadcom, Nvidia, Amazon Locations: Tan
Bernstein tech analyst calls Oracle his top investment idea
  + stars: | 2024-09-12 | by ( Sean Conlon | ) www.cnbc.com   time to read: +2 min
Seeing more upside ahead, Bernstein has named Oracle a "top investment idea" for investors seeking to play the cloud trade. On Tuesday, Oracle jumped more than 11% following better-than-expected first-quarter earnings , putting its shares at a 49% gain year-to-date. ORCL YTD mountain Oracle, year-to-date In a Thursday note, analyst Mark Moerdler cited Oracle's customer mix and the quality of its workloads – both of which offer downside protection – as key to the call. "We have watched as Microsoft has quietly become the largest security software/Cloud provider, and now we are seeing some fascinating security capabilities/offerings from Oracle," he said. "Watch out security vendors, Oracle is coming."
Persons: Bernstein, Mark Moerdler, Moerdler Organizations: Oracle, Microsoft
Thomas d'Halluin, Managing Partner of Airbus Ventures, at Hangar One of NASA Ames Research Center's Moffett Field in California. Airbus VenturesAirbus Ventures, one of the most prolific investors in space startups, has raised a $155 million fund that it plans to deploy across the burgeoning space sector, as well as the broader "deep tech" ecosystem. "This fund is designed to unlock new possibilities, and space is one of them," Thomas d'Halluin, managing partner of Airbus Ventures, told CNBC. Historically, deep tech is a classification for companies working on technologies that face steep scientific or engineering obstacles. Airbus Ventures currently has $465 million under management, with Fund-Y marking its fourth fund to date.
Persons: Thomas d'Halluin, d'Halluin Organizations: Airbus Ventures, NASA Ames Research, Moffett, Airbus Ventures Airbus Ventures, CNBC, Spaceflight, SpaceX Locations: California, European
But there's another lesser-known S&P 500 index that you might not have heard of: the SPW. In contrast, the conventional S&P 500 allocates more weight to the biggest companies based on market capitalization. Big Tech names carry very little debt on their balance sheets, meaning that they are less affected by elevated interest rates. Bank of AmericaIn contrast, the cap-weight S&P 500 is approaching overvalued territory. Examples of SPW index funds include the Invesco S&P 500 Equal Weight ETF (RSP) and Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (GSEW).
Persons: , that's, Jack Ablin, LPL, Jeff Buchbinder, Savita Subramanian, Buchbinder, Ablin, haven't, Goldman Sachs Organizations: Service, Nvidia, Big Tech, Business, Bank of America, Cresset, Healthcare, financials, Bank of America's, Equity, RSP
Read previewA Navy SEAL unit that killed Osama bin Laden is busy preparing for a possible Chinese invasion of Taiwan, the Financial Times reported, citing people familiar with the preparations. SEAL Team 6, an elite military special missions unit, has spent more than a year planning and training for a potential Chinese invasion of the island at its Dam Neck base in Virginia Beach, per the FT. People familiar with its planning did not provide details to the FT about what specific missions it is preparing for. These include the rapid modernization of its armed forces over the past two decades, and drills around Taiwan. According to a June report from the American think tank RAND Corp, the US — if it decided to defend Taiwan from a Chinese invasion — may have to do it alone as several of its biggest allies are unlikely to commit troops.
Persons: , Osama bin Laden, Osama bin, Phil Davidson, Adm, Samuel Paparo Organizations: Service, Navy SEAL, Financial Times, Business, Operations Command, Pentagon, Department of Defense, American Enterprise Institute, Institute for, Pacific, Japan's Nikkei, RAND Corp Locations: Taiwan, Virginia Beach, Afghanistan, Yemen, Syria, Somalia, Pakistan, China
It's been a topsy-turvy stock market since the Club's August Monthly Meeting. These were two of our top performers since the August Monthly Meeting. The stock closed nearly 5% higher on the eve of the September Monthly Meeting. The S & P 500's health care sector is up 2.2% since the August Monthly Meeting, slightly outperforming the broad index's 1.8% rise in that timeframe. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: It's, We've, Eli Lilly, Estee Lauder, Jerome Powell, it's, DA Davidson, Goldman Sachs, Goldman, Andy Jassy's, TJX, Jensen Huang, Abbott, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Dow Jones Industrial, Nasdaq, Investor, Federal, Procter, Gamble, Dover, Abbott Laboratories, TJX, Amazon, Micro Devices, Jackson, Bank of America, Telsey Advisory Group, JPMorgan, Oracle, Devices, AMD, Nvidia, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange Locations: seesaw, Wednesday's, U.S
Oracle shares rose about 6% in extended trading on Thursday after the database software maker raised its fiscal 2026 revenue guidance and issued a heady forecast for the 2029 fiscal year. At an analyst meeting coinciding with the Oracle CloudWorld conference in Las Vegas, the company said it now sees at least $66 billion in fiscal 2026 revenue. She pointed to partnerships that will allow companies to use Oracle database software through top-tier cloud providers Amazon , Google and Microsoft . The company's cloud infrastructure revenue grew 45% in the most recent quarter, a quicker pace than at Amazon, Google or Microsoft. As Oracle plans to expand revenue, Catz said she expects capital expenditures to double in the current 2025 fiscal year.
Persons: Safra Catz, LSEG, Catz, Alex Zukin Organizations: Oracle Corp, New York Stock Exchange, Oracle, Google, Microsoft, Nvidia Locations: New York, Las Vegas
Larry Ellison, co-founder, chairman and chief technology officer of Oracle, speaks during the Oracle OpenWorld conference in San Francisco on Oct. 1, 2017. Following a better-than-expected earnings report after the close on Monday, the stock popped 11% on Tuesday. Oracle shares are now up 49% this year, trailing only AI chipmaker Nvidia — up 136% — among large-cap tech stocks. Both companies announced major layoffs in their earnings reports last month. By the standards of high-growth tech, Oracle remains fairly plodding.
Persons: Larry Ellison, It's, Ellison, Elon Musk, Jeff Bezos, Safra Catz Organizations: Oracle, Intel, Cisco, Guggenheim, Nvidia, Forbes, Amazon, Revenue Locations: San Francisco
Some tech stocks are due for outperformance heading into year's end, according to UBS. Nvidia dragged other chip stocks down with it, with the VanEck Semiconductor ETF (SMH) suffering its worst day since March 2020. Wall Street is also bullish on the chipmaker, with 41 of the 50 analysts covering the name issuing a strong buy or buy rating, according to LSEG. In the IT hardware and electronics manufacturing services sector, UBS named Dell Technologies , given a PC refresh cycle and developing strength in AI optimized servers. UBS has a buy rating on the stock, and its target implies more than 48% upside from Tuesday's close.
Persons: chipmaker, Timothy Arcuri, Palantir, monetization Organizations: UBS, Nvidia, VanEck Semiconductor, Devices, AMD, Dell Technologies, DELL, P Global, Dell, Spotify
Tuesday, September 10, 2024: Cramer says the little things add up for this 'Mag 7' stockJim and Jeff discuss the earnings beat for this software stock. They also talk about investor pullback from this semiconductor stock. Finally, they break down this mega cap tech stock's latest event.
Persons: Cramer, Jim, Jeff
Unlike with Biden, Harris won’t have to go back to the 1970s to come up with lines of attack. One speaker at a timeWhile Harris will have plenty to say about Trump, she won’t have the benefit of his interruptions. Prep can fall flatNot all of Harris’ planned takedowns work quite as well as the busing attack on Biden. In another 2019 debate, Harris targeted Sen. Elizabeth Warren on the subject of Warren’s plan to break up tech companies. Lines of attack against HarrisWhich brings us to a third telling Harris debate exchange from 2019.
Persons: Donald Trump, Kamala Harris, – Harris, Harris eviscerated Joe Biden, ” Harris, Biden, Strom Thurmond, John Stennis, , Harris, unsparing, Trump Harris, Trump, Harris won’t, won’t, , Hillary Clinton, Mike Pence, “ Mr, Harris ’, Sen, Elizabeth Warren, Warren, Elon Musk, ” Warren, Tulsi Gabbard, Gabbard, Organizations: CNN, Democratic, ABC News, Trump, Twitter, Capitol, Elon, White, Rep, Democratic Party, New York Times, Siena Locations: Sens, South Carolina, John Stennis of Mississippi, California, Pennsylvania, Pittsburgh, Harris, Trump, New York
Utilities — not tech — are now the hottest trade on Wall Street, according to Bank of America. "Note that the total return of S & P 500 Utilities (the 'tortoise') has been in line with Nasdaq's (the "hare') over the long term." Vanguard Utilities ETF (VPU) , a $6.4 billion market cap-weighted fund, has a total return of 22%. The iShares U.S. Utilities ETF (IDU) , with $1.4 billion in assets, has a 22% total return. Invesco S & P 500 Equal Weight Utilities ETF (RSPU) , an equal-weighted fund with just $317 million in assets, has a roughly 20% total return in 2024.
Persons: Savita Subramanian, Subramanian, , Invesco, Jesse Pound Organizations: Bank of America, Federal Reserve, Utes, Utilities, Vanguard Utilities, U.S . Utilities, Fidelity MSCI Utilities Locations: U.S
MarineMax — Shares jumped 6% after Citi upgraded shares to buy from neutral. Palantir Technologies , Dell Technologies — Shares of Palantir and Dell rallied 8% and 5%, respectively, after it was announced postmarket Friday that the stocks would join the S & P 500 index. Palantir will replace American Airlines , while Dell will replace Etsy . Summit shares soared more than 30%. United States Steel — Shares moved about 3% higher after JPMorgan upgraded the industrial stock to overweight from neutral.
Persons: Merck, Summit, , Jesse Pound, Hakyung Kim, Sarah Min, Sean Conlon Organizations: Boeing —, Citi, Technologies, Dell Technologies, Dell, American Airlines, Etsy, Summit Therapeutics, Summit, Arm Holdings, Times, Apple, United States Steel, JPMorgan, Nippon Steel, JetBlue Airways —, Bank of America, JetBlue
Kevin Winter | Getty ImagesArtificial intelligence is a "Wild West" with "very few rules" — but it has the potential to democratize the film industry in the long term, according to the director of "The Lion King." Minkoff was speaking with CNBC ahead of the Reply AI Film Festival. 'Hyperbole' versus 'legitimate concerns'The arrival of new technology has for decades been a fear among people working in the film industry, Minkoff noted. Alexander de Lukowicz, co-director of "Gia Pham," told CNBC that humans are essential to how he and his team work to generate short films. We wanted to produce something like a film to really check the boundaries of what's possible," de Lukowicz told CNBC.
Persons: Lion, Roger Allers, Rob Minkoff, Kevin Winter, it'll, Minkoff, Stuart Little, Simba, Filippo Rizzante, Rizzante, Gia Pham, Alexander de Lukowicz, It's, de Lukowicz Organizations: CNBC, American Society for Composers, Publishers, Broadcast, Inc Locations: Venice
Jim Cramer said Microsoft shares could bottom Wednesday — and out of all the megacap tech stocks, this Club name is the one to buy. Wells Fargo also highlighted Microsoft's cybersecurity business. Similar to others in the sector, Microsoft's cybersecurity business can continue to rake in major corporations as clients as the threat of hacks and breaches remains elevated. In 2023, Microsoft CEO Satya Nadella said the company's cybersecurity business had surpassed $20 billion in revenue over a 12-month period. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Jim Cramer, Wells, Jim, Wells Fargo, Bing, Satya Nadella, Wells Fargo's bullishness, Piper Sandler, Jim Cramer's, Microsoft Corporation Satya Nadella, Chalinee Thirasupa Organizations: Microsoft, Wall, CNBC, Microsoft Corporation Locations: U.S, Bangkok, Thailand
The good news outweighs the bad Seasonality aside, the market is riding a wave of momentum, and with good reason: 1) The market "broadening" trend is very real. At Jackson Hole, chairman Jerome Powell made it clear that the Fed had shifted its attention from fighting inflation to the job market. S&P 500 in September: It's been ugly recently (rounded) 2023: down 5%2022: down 9%2021: down 5%2020: down 4% The elections are another wildcard. Two-thirds of the S&P 500 was up in August. Most importantly, the Equal-Weight S&P 500 (RSP) modestly outperformed the S&P 500 in August and closed Friday at an historic high.
Persons: Frank Gretz, Wellington Shields, Robert Hum, It's, Consumer Staples, Jerome Powell, David Smith, Brendan McDermid Organizations: Dow, NASDAQ, Russell, NYSE, Megacap Tech, Apple, Nvidia, Microsoft, Consumer, Estate, Technology, American Association of, Bulls, PCE, Fed, Rockland Trust, CNBC, Traders, New York Stock Exchange Locations: Wellington, Meta, Rockland, New York City, U.S
The AI team at Balyasny Asset Management has been vocal about its ambitions to build an AI equivalent of an analyst, and a recently developed tool called Deep Research is getting it one step closer to its goal. Built by the hedge fund's Applied AI team, Deep Research helps analysts and portfolio managers answer complex questions to research stocks before making a trade. In one recent example, a portfolio manager asked Deep Research to find companies whose supply chains are impacted by tariffs. The Applied AI team wants to continue to level up what the bots can do. Those teams experiment with Deep Research by sending research questions to the Applied AI team to process.
Persons: , Chen Fang, Fang, Balyasny, Peter Anderson, it's, Anderson Organizations: Service, Balyasny, Management, Research, Business, Deep Research, Microsoft, Google, SEC
Generative AI models require huge amounts of training data to enable their systems to produce advanced outputs. But the data that goes into them is often from sources where copyright restrictions are in place. The round values the two-year-old company at $2.25 billion, sources familiar with the matter told CNBC. Fighting AI copyright theftStory is now trying to tackle a timely problem with its tech — theft of copyrighted media on the internet by powerful generative AI models like OpenAI's ChatGPT. But the data that goes into fueling these AI models is often from sources where there's copyright restrictions in place.
Persons: Story, Andreessen Horowitz, Polychain, Smart, Story's, Lee, it's, Dolce Organizations: Getty, San, CNBC, Balmain, Gabbana, Brands, New York Times, Microsoft, Times, Big Locations: Francisco
CNBC's Robert Hum tells me both the S & P 500 and Nasdaq Composite are up eight straight sessions — the longest advances since November of last year for the S & P 500 and December for the Nasdaq. The S & P has risen 7% over the past eight trading days. Another positive factor: market breadth (advancing vs. declining stocks) has been on a tear. Markets now It's happening again Monday: 2-1 advancing to declining stocks on the NYSE, and the S & P 500 ahead 25 points. The tech rally appears to have stalled out.
Persons: CNBC's Robert Hum, Lowry Organizations: Nasdaq, New York Stock Exchange, NYSE, Tech, Meta, Nvidia, Apple
Wall Street still loves the ‘Magnificent Seven’
  + stars: | 2024-08-14 | by ( Fred Imbert | ) www.cnbc.com   time to read: +2 min
Don't get it twisted: Wall Street's love affair with the "Magnificent Seven" is alive and well. That's a greater gain than what strategists forecast for the S & P 500 as a whole — a gain of 11.9%. This dynamic is seen through the relative outperformance of the equal weighted S & P 500 versus its market cap weighted counterpart. .SPX RSP 1M mountain SPX vs RSP in past month Despite this rotation, Wall Street analysts still believe staying with megacap technology stocks are the better bet. Elsewhere on Wall Street this morning, Stifel upgraded Starbucks to buy from hold after naming Brian Niccol its new CEO.
Persons: Jessica Rabe, DataTrek, Rabe, Stifel, Brian Niccol Organizations: Research, Big Tech, RSP, Wall Street Locations: That's
This is the second day in a row that stocks have reacted with relief to an inflation report. The S & P 500 is now back to where it was just before the disappointing jobs report on Aug. 2. The S & P technology sector ETF (XLK) is also back to levels before the jobs report. The Cboe Volatility Index (VIX) has collapsed to 17 — also where it was just before the jobs report. Despite the growth scare that followed the jobs report, there are no signs of an imminent recession.
Persons: Organizations: Federal, Treasury, Bloomberg News, Tech, Nvidia, Atlanta Fed Locations: Treasurys
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