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Mixed market : The S & P 500 spent Friday's session mostly unchanged as it tried for a fourth record close this week. Still frothy : The S & P Short Range Oscillator pulled back from Tuesday's most overbought reading since August. Month to date, consumer discretionary, utilities, and materials were the best-performing S & P 500 sectors. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, he's, Vimal Kapur, Jim Cramer's, Jim, Spencer Platt Organizations: CNBC, GE Healthcare, Honeywell, Constellation Brands, Jim Cramer's Charitable, New York Stock Exchange, Getty Locations: Tuesday's, New York City
Brokerages have also jumped in on the action, with several companies dropping the rates they pay on sums held in cash sweep accounts. Charles Schwab recently trimmed its cash sweep rate to 20 basis points, where it was previously 45 basis points, according to an analysis by Bank of America. Wells Fargo also dropped rates by 3 basis points to 30 basis points, based on the level of clients' household assets. A few outliers still pay solid rates on idle cash Brokerages take different approaches toward cash sweeps, with some firms opting to keep rates low even when the Fed was hiking rates. Even as yields are expected to continue falling, a couple of brokerages continue to offer competitive rates, Bank of America found.
Persons: Marcus, Goldman Sachs, Wells, Michael Kaye, Charles Schwab, Wells Fargo, Robinhood, Ryan Salah, We've Organizations: Federal Reserve, Fed, Discover Financial, Bank of America, Wells, Advisors, Interactive, Robinhood, Capital Financial Partners Locations: Wells Fargo, Towson , Maryland
China optimism is surging. Why some investors are cautious
  + stars: | 2024-09-27 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +4 min
A shareholder at a securities hall in Hangzhou, the capital of Zhejiang province in east China, on Sept. 24, 2024. "Markets should place more emphasis on the specifics of the stimulus," Lu said. The People's Bank of China this week cut major interest rates, and announced plans to lower rates for existing mortgage holders. Questions about scaleFor some investment institutions, that's still not enough to move the needle on their China outlook. A survey in September of more than 1,200 companies in China by the U.S.-based China Beige Book found that corporate borrowing declined, despite historic lows in the costs to do so.
Persons: Xi Jinping, Ting Lu, Lu, Nomura's Lu, that's, Paul Christopher, Christopher, Shehzad Qazi, Qazi Organizations: Getty, BEIJING, Shanghai, Nomura, People's Bank of, Finance, Wells, Wells Fargo Investment Institute, U.S Locations: Hangzhou, Zhejiang, China, Beijing, People's Bank of China, Wells Fargo, U.S . Federal, U.S
Making the most advanced semiconductors requires cutting-edge lithography scanners to print the small, complex circuit designs onto microchips. But the Dutch government has banned the sale of its most advanced equipment to China. "Recreating advanced lithography systems that took ASML decades to develop and commercialize is a tall order for any individual Chinese company," Triolo said. SHANGHAI, CHINA - NOVEMBER 8, 2023 - Visitors learn about lithography machines at the booth of ASML at the 6th CIIE in Shanghai, China, November 8, 2023. Meanwhile, the U.S. is not only restricting China's access to chips, but trying to boost its own industry thus further widening the technological gap.
Persons: Huai, Leping Huang, ASML, John Lee, Paul Triolo, Triolo, Lee, Camille Boullenois Organizations: Nurphoto, Getty, Huatai Securities, East, West Futures, Technological, China, DGA Group, ., Chips, Semiconductor Industry Association, Boston Consulting Group Locations: HUAI'AN, CHINA, Jiangsu province, China, U.S, . Netherlands, SHANGHAI, Shanghai, Taiwan
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPCE does not change our base case for quarter-point cuts through rest of year, says Julia CoronadoCNBC's Steve Liesman and Julia Coronado, founder of MacroPolicy Perspectives, join 'The Exchange' to discuss their reactions to the August PCE data.
Persons: Julia Coronado CNBC's Steve Liesman, Julia Coronado Organizations: PCE
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
CNN —Vice President Kamala Harris and former President Donald Trump are tied among likely voters in North Carolina, while Harris holds a comfortable lead in Nebraska’s 2nd Congressional District, according to two new CNN polls conducted by SSRS. In North Carolina, Harris and Trump stand at 48% each among likely voters. In Nebraska’s 2nd District, the so-called blue dot encompassing Omaha, Harris has 53% to Trump’s 42%, the poll finds. An 86% majority of Democratic likely voters and 69% of independent likely voters favor keeping the current system, while 69% of GOP likely voters say they’d rather move to a winner-take-all system in the state. But just 41% in North Carolina say they’re very confident, rising to a 59% majority in Nebraska’s 2nd District.
Persons: Kamala Harris, Donald Trump, Harris, SSRS, Mark Robinson, Trump, Barack Obama, Joe Biden, they’ve, White, Biden, Brian Snyder, Josh Stein, Robinson, Stein, Tony Vargas, Don Bacon, Vargas, Bacon, Jim Watson, CNN’s Jennifer Agiesta, Edward Wu Organizations: CNN, Congressional, Gov, Democratic, Trump, North, Nebraska’s, Sun, College, Cornhusker State, Republican, Obama, Biden, Reuters Male, GOP, Republican Rep, Republicans, Getty Locations: North Carolina, Nebraska’s, The, Carolina, Omaha, Nebraska, Maine, Wilmington , North Carolina, Congress, Trump, North Carolina’s, North, Charlotte , North Carolina, AFP, The Nebraska
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
In a recent interview, Swank, 50, said she's happy she's an older mom. She has more time for her kids and is more comfortable with herself than she was in her 20s and 30s. AdvertisementIn 2022, Hilary Swank announced she was pregnant with twins at age 48, sparking conversations around the risks of pregnancy after age 35. Now, a few years into being a mother, Swank, 50, said that she's glad she had kids in her 40s. "It makes me really empathize with all the parents out there who are working really long hours who don't get to see their children."
Persons: Hilary Swank, Swank, Organizations: Service
Trump's plan for a 10% tariff on all imports has been panned by Democrats and Republicans alike. Vice President Kamala Harris has even called it the "Trump Sales Tax." Vice President Kamala Harris has characterized the plan as the "Trump Sales Tax." Despite that, a rebellious House Democrat just introduced a bill that would write those tariffs into law. A self-described "progressive conservative," the Maine Democrat frequently votes for Republican-led resolutions and bills in Congress.
Persons: Kamala Harris, Jared Golden of, , Donald Trump's, Mitch McConnell, Jared Golden, Golden, It's, Trump, Biden —, he's, Austin Theriault Organizations: Republicans, Democratic, Service, Trump, Democrat, Labor, Trade, United States of, Maine Democrat, Republican, GOP Locations: Jared Golden of Maine, United States, Maine, United States of America
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
This signal comes as the S & P 500 trades at all-time highs, boosted by a shift in Federal Reserve policy. The Fed earlier this month cut interest rates by a half percentage point, the first easing of policy in more than four years. Wall Street sees further reductions ahead, too. The Cboe Volatilty Index spiked north of 23 earlier this month, as worries over the U.S. economy weighed on sentiment. Elsewhere on Wall Street this morning , Morgan Stanley upgraded Wynn Resorts to overweight from equal weight.
Persons: Wolfe, Janney Montgomery Scott, Dan Wantrobski, Wantrobski, Morgan Stanley, WYNN's Organizations: Federal, Wynn Resorts Locations: U.S
In her three years as a dating coach Kelsey Wonderlin has learned that the majority of the 200 people she's counseled care about how much their potential mate earns. Evaluating a person based on their salary might seem shallow, but how someone spends their money can be a bellwether of their priorities. However, outright asking how much a person makes on a first date is not the right way, or the right time, to figure out if you two align on how you handle money. "On a first date that would be a socially unacceptable question to ask," Wonderlin says. "It's an unrealistic viewpoint that if someone makes this certain number everything will be great," Wonderlin says.
Persons: Kelsey Wonderlin, she's, Wonderlin
CNBC Daily Open: A high of all-time highs
  + stars: | 2024-09-27 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +2 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. All-time high, againMajor U.S. indexes rose on Thursday, with the S&P 500 notching a fresh closing high. When the U.S. Federal Reserve cut interest rates last week, it's not unreasonable to expect Treasury yields to dip. But 55% of respondents think Trump will be better for the economy and on inflation.
Persons: Europe's, it's, they've, Jeff Cox, Sam Altman, Bret Taylor, Harris, Kamala Harris, Donald Trump, Trump Organizations: CNBC, Major, Micron, Swiss National Bank, Treasury, U.S . Federal Reserve, Altman, U.S Locations: Major U.S, China
NYC Mayor Eric Adams insisted that he will remain in office despite his indictment. However, the city's charter outlines two ways Adams could be forcibly removed from his position. AdvertisementAfter news broke that New York City Mayor Eric Adams was indicted on five criminal counts, many other politicians started calling on him to resign his post. The committee includes five members: New York City's top attorney, the comptroller, the City Council speaker, the borough president serving the longest consecutive term, and a deputy mayor that the mayor selects, the city charter states. If Adams is removed from office or resigns, Jumaane Williams, the city's public advocate, would serve as acting mayor.
Persons: Eric Adams, Adams, Kathy Hochul, , Adrienne Adams, Donovan Richards, Brad Lander, Richards, Lander, Muriel Goode, Trufant, Goode, Randy Mastro, Fabien Levy, Jumaane Williams, Williams, Gracie Organizations: Service, New, New York City, Gov, York, City Council, City, Speaker, The New York Times Locations: New York, Gothamist , New York City, Lander,
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
Treasury yields dip ahead of key inflation data
  + stars: | 2024-09-27 | by ( Sophie Kiderlin | In | ) www.cnbc.com   time to read: 1 min
U.S. Treasury yields were lower on Friday, with investors looking to the release of key inflation data as they weighed the state of the economy. ET, the yield on the 10-year Treasury was down by over one basis point to 3.7714%. The 2-year Treasury yield was last at 3.6021% after falling by more than two basis points. Yields and prices have an inverted relationship. One basis point equals 0.01%.
Organizations: Treasury
"Hellboy: The Crooked Man" is the character's latest reboot. Director Brian Taylor told Business Insider the scene needed "a lot of rubber and a lot of lube." Director Brian Taylor told Business Insider that he used "a lot of rubber and a lot of lube" to get it right. AdvertisementInstead, "Hellboy: The Crooked Man" takes a welcome, back-to-basics approach and leans closer to the horror genre than action and fantasy. Icon Film Distribution presents "Hellboy: The Crooked Man" in UK cinemas from 27 September.
Persons: Brian Taylor, , Mike Mignola, Richard Corben, Jack Kesy, Martin Bassindale, Hellboy, David Harbour, Cora Fisher, Hannah Margetson, Fisher, Clive Barker, Taylor, Margetson Organizations: Business, Service, Millennium Media, Office
The lender disclosed that the Consumer Financial Protection Bureau could punish JPMorgan for its role in Zelle, the giant peer-to-peer digital payments network. In response, JPMorgan issued a thinly veiled threat: "The firm is evaluating next steps, including litigation." Trade groups say that in the aftermath of the financial crisis, banks became easy targets for populist attacks from Democrat-led regulatory agencies. Amid the scrutiny, the bank began warning Zelle users on the Chase app to "Stay safe from scams" and added disclosures that customers won't likely be refunded for bogus transactions. While all of these battles are ongoing, the financial industry has racked up several victories so far.
Persons: JPMorgan Chase, Jamie, Evelyn Hockstein, Tobin Marcus, Joe, Marcus, That's, Biden, Marianne Lake, Zelle, Banks, Jamie Dimon, Dimon, Donald Trump, Kamala Harris, Mark Pittman Organizations: JPMorgan, U.S . Senate Banking, Housing, Urban Affairs, Wall, Capitol, Washington , D.C, Reuters, JPMorgan Chase, Consumer Financial, Democrat, Republican, Wolfe Research, Services, PayPal, Bank of America, Senate, Electronic, Federal Reserve, U.S . Chamber of Commerce, Northern, Northern District of Texas Locations: Washington ,, Zelle, Basel, Wells Fargo, Northern District
Gold, silver head for weekly gains on U.S. rate-cut momentum
  + stars: | 2024-09-27 | by ( ) www.cnbc.com   time to read: +2 min
Gold and silver prices retreated on Friday from record highs, but were positioned for weekly gains on growing anticipation of another bumper U.S. interest rate cut this year, as markets awaited a key inflation report for additional guidance. Gold and silver prices retreated on Friday from record highs, but were positioned for weekly gains on growing anticipation of another bumper U.S. interest rate cut this year, as markets awaited a key inflation report for additional guidance. Silver prices surged due to bullion's strong performance and China's stimulus measures, though some analysts warn that the rally may fade due to concerns over industrial demand. The Federal Reserve's larger-than-usual half-percentage-point reduction last week ignited a rally in gold, which hit consecutive record highs and has gained about 1.8% so far this week. Gold prices are currently supported by anticipated U.S. Fed interest rate cuts and China's stimulus measures, both of them are weakening the dollar, said Kyle Rodda, financial market analyst at Capital.com.
Persons: Kyle Rodda Organizations: FedWatch, U.S, BMI Locations: U.S
Key Fed inflation gauge at 2.2% in August, lower than expected
  + stars: | 2024-09-27 | by ( Jeff Cox | ) www.cnbc.com   time to read: +2 min
Economists surveyed by Dow Jones had been expecting all-items PCE to rise 0.1% on the month and 2.3% from a year ago. Excluding food and energy, core PCE rose 0.1% in August and was up 2.7% from a year ago, the 12-month number 0.1 percentage point higher than July. "All quiet on the inflation front," said Chris Larkin, managing director of trading and investing at E-Trade from Morgan Stanley. Personal income increased 0.2% on the month while spending rose 0.2%. At their meeting last week, policymakers indicated a likelihood of another half percentage point in cuts this year then a full point in reductions for 2025, though markets expect a more aggressive path.
Persons: Dow Jones, Chris Larkin, Morgan Stanley Organizations: Commerce Department, Fed, Stock Locations: U.S
In today’s edition, national political reporter Ben Kamisar breaks down the latest installment of the NBC News Deciders Focus Group series, which featured young men from battleground states who are skeptical of both candidates. For him or against him, young men see the election as all about TrumpBy Ben KamisarNew focus groups of skeptical young men planning to vote in this fall’s most critical battleground states illustrate how, for them, this election is all about Donald Trump. The battle for young votersPolling has shown a significant gender gap in the presidential race, with Trump holding the upper hand among men and Harris with women. The two campaigns have been vocal about their attempts to win over young men — Trump through the world of influencers and combat sports, and Harris through targeted ads and the refrain about vice presidential nominee Tim Walz’s past as an assistant football coach. Read more → Follow live updates from the campaign trail →That’s all from the Politics Desk for now.
Persons: Ben Kamisar, Jonathan Allen, Donald Trump, , Harris, ” “ Kamala Harris, MAGA, John M, Trump, , , Drake, SurveyMonkey, — Trump, Tim Walz’s, → Harris, Garrett Haake, Sen, Mike McDonnell —, — Sen, Lindsey Graham, Jane Kleeb, McDonnell, Harris ’, Joe Biden, Ben Kamsiar, Kamala Harris ’, Donald Trump’s, Alex Conant, — we’ve, ” Conant, Read, loos Organizations: NBC, White House, Capitol, Capitol Hill, Trump, Wisconsin —, Syracuse University, Democratic, Republican Party, GOP, Trump reminisced, Congressional, Electoral, Republican, Democrats ’, Nebraska Democratic Party, NBC News, doling, Republicans, ntr, aig Locations: Nebraska, Michigan , Pennsylvania, Wisconsin, Pennsylvania, Philadelphia, Omaha, — Maine, Nebraska’s, Omaha —, Pennsylvania , Michigan, Georgia
SKIP AHEAD How I tried the DRx Spectralite Faceware Pro | My experience with the Dr. Dennis Gross DRx Spectralite Faceware Pro | Who is the DRx Spectralite Faceware Pro best for? What is the Dr. Dennis Gross DRx Spectralite Faceware Pro? You can wear the Dr. Dennis Gross DRx Spectralite Faceware Pro mask for three minutes a day to target fine lines, discoloration and acne-causing bacteria. In short, yes: Dermatology offices nationwide have been using red light therapy for over a decade, according to experts we spoke to in our guide to red light therapy. Who is the Dr. Dennis Gross Drx Spectralite Faceware Pro best for?
Persons: I’ve, Dennis Gross’s, Dennis Gross, Apple, Ashley Morris, , Solawave, it’s, TikTok Organizations: NBC, University of Wisconsin School of Medicine, Public Health, Therabody’s, Technologies, FDA, Facebook, Twitter Locations: New York
Andy Beshear ordered the sheriff accused of gunning down a judge in his chambers to resign by the end of the week or face removal proceedings. The Letcher County Sheriff’s Office could not be reached for comment Thursday. Letcher County Judge/Executive Terry Adams did not immediately respond to a request for comment. A Kentucky State Police spokesman has said the shooting at the Letcher County Courthouse occurred after an argument in the building. A filing in the case from Stines’ lawyer argued that Stines was protected from being sued over the allegations because of his position as an elected official and law enforcement officer.
Persons: Andy Beshear, gunning, Travis Mayo, Shawn “ Mickey ” Stines, Kevin Mullins, Mullins, Stines, Terry Adams, Clare Grant, Stines ’, Matt Gayheart, ” Jonathan Shaw, Judge Mullins, ” Shaw Organizations: Kentucky Gov, Kentucky State Police, Authorities, Courier, USA Locations: Letcher, Stines, Whitesburg, Ky, Clare
By comparison, from Ohio’s March primary through August, Democrats held the edge, dropping $78.5 million on ads to Republicans’ $59 million. “Bernie’s special interest allies are dumping hundreds of millions of dollars into this race to try and defeat Sherrod because they know Sherrod will always stand up to them to do what’s right for Ohio,” Brown spokesperson Matt Keyes said in a statement. Democrats, who hold a one-seat majority in the Senate, are growing increasingly nervous about Sen. Jon Tester’s re-election bid in Montana. Democrats had a clear advertising advantage coming out of a contentious March primary that cost Moreno’s campaign millions of dollars to win. Close behind is WinSenate, a political action committee affiliated with the Democrats’ Senate Majority PAC, which has spent more than $22 million this month.
Persons: Sen, Sherrod Brown, Bernie Moreno, Brown, , Jai Chabria, JD Vance’s, , Moreno, Sherrod, ” Brown, Matt Keyes, Jon Tester’s, Larry Hogan, Gary Peters of, “ We’re, ” Philip Letsou, Chuck Schumer, Kamala Harris, ” Letsou, Barack Obama, Donald Trump, “ Sherrod, Chris Grant, Moreno’s, it’s, beholden, Harris, Joe Biden, Bernie, Scott Guthrie, ” Peters, I’m, “ Jon Tester, ” Moreno, Reagan McCarthy, chastise Brown, Mary Ann, ” Mary Ann, Bernie Moreno’s, ” Chabria, Vance Organizations: CLEVELAND, Senate, Democratic, , GOP, Republican, Democratic Senatorial, National Press Club, National Republican Senatorial Committee, Democrat Party, lockstep, Democrats, Defend, Jobs, Fund, PAC, National Republican, Moreno’s, Locations: Ohio, Montana, Florida, Texas, Montana and Ohio, Arizona , Michigan, Nevada , Pennsylvania, Wisconsin, Maryland, Gary Peters of Michigan, Washington, lockstep ”, ” Ohio, Toledo
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