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REYKJAVIK, Iceland (AP) — Iceland’s president said the country is battling “tremendous forces of nature,” after molten lava from a volcano in the island’s southwest consumed several houses in the evacuated town of Grindavik. Johannesson said in a televised address late Sunday that “a daunting period of upheaval has begun on the Reykjanes peninsula,” where a long-dormant volcanic system has awakened. A volcano on the peninsula erupted for the second time in less than a month on Sunday morning. Authorities had ordered residents to leave the fishing town of Grindavik hours earlier as a swarm of small earthquakes indicated an imminent eruption. Political Cartoons View All 253 ImagesThe volcano eventually erupted on Dec. 18, sending lava flowing away from Grindavik.
Persons: , , Gudni Th, Johannesson, Magnus Tumi Gudmundsson, Gudjon Helgason Organizations: Authorities, Keflavík Locations: REYKJAVIK, Iceland, Grindavik, , Reykjavik
If you want a sense of how frothy things have become, look no further than the December Bank of America Global Fund Manager Survey. This is a survey of roughly 250 global fund managers and is a very good gauge of sentiment among fund managers. 1-month average returns: 1.9% (vs. 0.6% in all 1-month periods) 3- month average returns: 3.3% (vs. 1.9%) 1- year average returns: 7.5% (vs. 7.9%) Source: StoneX While eight-day streaks are rare, the Dow has done even better. Last July, th e Dow broke a 13-day winning streak , the likes of which were last seen in 1987. It's currently at an RSI (Relative Strength Indicator, a gauge of momentum over the past 14 trading days) of 85.
Persons: Dow, Matt Weller, That's, Weller, It's Organizations: Bank of America Global Fund, Survey, Federal, Dow Locations: China
It turns out that the Santa Claus rally on Wall Street extends beyond the official seven-session stretch from December into January for the S & P 500 , according to Bank of America. The official seven-session Santa Claus rally encompasses the final five trading sessions of December and the first two days of January. Historically during that period, the S & P 500 has gained 79% of the time with an average return of 1.66%, Bank of America found. .SPX YTD mountain The S & P 500 is less than 1% away from reaching a fresh all-time high close. This year, the S & P 500 rallied 3.3% over the first 10 sessions of December, which ran through the 14 th of the month, Suttmeier found.
Persons: Santa Claus, Stephen Suttmeier, Suttmeier, Russell, Michael Bloom Organizations: Bank of America, Dow Jones Industrial Locations: Santa
Tesla CEO Elon Musk hosted a delivery event this week at the company's factory in Austin, Texas, touting its towing abilities, race-car like acceleration, and even bulletproof doors. This jaw dropping event is in the wake of Elon Musk's comments earlier this week at the 2023 DealBook Summit in New York. The current opportunity I see for TSLA is a move higher into 2024 once this volatility is digested, yet again. Tesla call spread To capture this move higher, I want to buy a call spread. DISCLOSURES: (Long Tesla, short tesla puts, long call spread) THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY .
Persons: Elon Musk, Tesla, Elon Musk's, Elon, tesla Organizations: EV Locations: Austin , Texas, New York
Why investors should stick with Eli Lilly
  + stars: | 2023-12-01 | by ( Jeff Marks | ) www.cnbc.com   time to read: +2 min
Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. The treatment — which Jim Cramer has said could become the greatest-selling drug of all time — received approval from the U.S. Food and Drug Administration last month, bolstering Eli Lilly shares. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. 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, Bond, Jerome Powell, Goldman Sachs, STZ, Eli Lilly, , Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Treasury, Federal, Club, Constellation Brands, Pfizer, U.S . Food, Drug Administration Locations: U.S
The loudest investor chatter for months has insisted the heavyweights of the Nasdaq have been everything to the market in 2023. Sunday is the second anniversary of the all-time closing high in both the Nasdaq Composite and Nasdaq 100 indexes, which remain 12% and 4 % underwater even after their monster gains in recent months. It's relatively rare for the Nasdaq 100 – the most easily investable part of the Nasdaq and the one most reflective of the mega-cap dominance – to enter a two-year downturn. Only three of the Big Seven have outperformed the Nasdaq 100 over the past two years – Apple, Nvidia and Microsoft — while Meta Platforms has kept pace and Amazon, Alphabet and Tesla have lagged. Friday showed signs of outright rotation, the Russell 2000 up 1.3% versus a flat Nasdaq 100.
Persons: Invesco, Scott Chronert, we've, I've, , Chronert, Apple's, What's, Berkshire Hathaway, Tony Pasquariello, Goldman Sachs, Russell, disinflation Organizations: Nasdaq, Sunday, QQQ, Citi, Apple, Nvidia, Microsoft, Meta, Berkshire, Fed Locations: lockstep, Berkshire, Whereto
Some of them are imprinted with the text of the Second Amendment, others a rallying cry: “We fight fascists.” Among the most eye-catching is an ad for N.R.A. memberships, with its promise of “$5,000 Accidental Death and Dismemberment insurance.”But what about intentional deaths? “Watch Night,” a new multigenre hybrid show, is interested in those, specifically the ones fueled by homegrown prejudice. He wrote the libretto for “We Shall Not Be Moved” (2017), an opera inspired by the police bombing in 1985 of a Philadelphia house occupied by Black activists, with an artistic team that included Jones and Lauren Whitehead, the “Watch Night” dramaturg. Unfortunately, those experiences have not helped focus this new production.
Persons: Perelman, Bill T, Jones, Marc Bamuthi Joseph, Tamar, kali, Joseph, Carlos Simon, , George Floyd, Lauren Whitehead Organizations: Perelman Performing, Emanuel African Methodist Episcopal Church, Minnesota Orchestra, Black Locations: Charleston, S.C, Pittsburgh, “ brea, Philadelphia
YouTube wants to launch a AI feature to let users make music using their favorite singers' voices. It's been delayed by ongoing talks with record companies about the rights needed to train AI software. The arrival of AI-generated music has created significant legal issues for the music industry. The new tools are aimed at streamlining the creative process for YouTube users. The AI music function could potentially give YouTube users the ability to recreate any song with their favorite musician's voice, or create entirely new music replicating a singer.
Persons: It's, , didn't, Alexander Ross, that's, Drake, Munch ”, , Daniel Ek, Grimes, Elon Musk, who's Organizations: YouTube, Service, Bloomberg, Spotify
The CFPB warned student-loan borrowers that their servicers might engage in misleading behavior. On Tuesday, the Consumer Financial Protection Bureau released a blog post outlining what protections and options borrowers have as payments resume. The agency has long been looking into potentially misleading behavior that has put student-loan borrowers at risk. As Insider previously reported, the transition back into repayment will be a significant challenge for borrowers, the Education Department, and student-loan servicers. AdvertisementAdvertisementStill, the Education Department said it remains committed to ensuring borrowers are receiving the best information from their servicers on their options for repayment.
Persons: servicers, CFPB, Rohit Chopra, Joe Biden's, Carolyn Fast Organizations: Service, Consumer Financial, Education Department, The Century Foundation Locations: Wall, Silicon
George Soros expects a economic crisis if Donald Trump regains the White House. He told Project Syndicate the US would face both a constitutional, and economic, crisis. The Soros Fund Management founder made his remarks in a Project Syndicate article as the 2024 election cycle gets underway and Trump faces a host of legal battles. AdvertisementAdvertisementThat's not stopped Trump from seeking the Republican nomination for a third time – something that's not sitting well with Soros. But if I am wrong, the US will face a constitutional crisis that is likely to bring on an economic crisis as well," he added.
Persons: George Soros, Donald Trump, It's, Trump's, He's, Trump, that's, Soros Organizations: Syndicate, Federal, Service, Soros Fund Management, Trump, Republican Locations: Wall, Silicon
Popeyes is coming back to China in a big way
  + stars: | 2023-08-22 | by ( Michelle Toh | ) edition.cnn.com   time to read: +3 min
Shares of the operator, Shanghai-based Tims China (THCH), rose 3.6% in New York following the news. The company is best known as the operator of Tim Hortons coffee shops in China but recently bought the franchise for Popeyes in the country. “We are thrilled to open our first Popeyes restaurant in China, a milestone in our longer-term strategy,” Tims China CEO Yongchen Lu said in a statement. The fried chicken chain previously operated in China under TFI Tab Food Investments, a quick service restaurant group based in Turkey. The US company signed a new partnership deal last year with private equity firm Cartesian Capital Group, the founder and top shareholder of Tims China.
Persons: Fried, Tim Hortons, Yongchen Lu, ” Tims, Tims, Lu, Burger, Joshua Kobza, Organizations: Hong Kong CNN, Popeyes, TH, Subway, Restaurant Brands, TFI, Food Investments, PLKC International Locations: Hong Kong, China, Shanghai, New York, New Orleans, Popeyes, Turkey, Tims China, Macao
Analysts at JPMorgan named five global stocks in a sector they described as being in "pole position," following the Federal Reserve 's latest rate hike. We address which sectors typically lead in the aftermath of the last Fed hike, Staples and Healthcare are in pole position," the analysts led by Mislav Matejka stated in a July 31 note to investors. The bank gave French food manufacturer Danone an estimated 6% earnings per share (EPS) growth for 2024, and Swiss competitor Nestle 8% for the same period. Dutch retailer Ahold Delhaize is also a staples sector pick, with 7% estimated EPS growth for 2024. Budweiser brewer Anheuser-Busch InBev was named by JPMorgan too, with the bank estimating EPS growth of 18% for next year.
Persons: Mislav Matejka, CNBC's Michael Bloom, Jeff Cox Organizations: JPMorgan, Federal, Fed, Staples, Healthcare, Danone, Nestle, Tesco, Budweiser, Anheuser, Busch InBev Locations: Swiss
Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating on Apple after its earnings report Thursday. Rosenblatt downgrades Apple to neutral from buy Rosenblatt said Apple is sitting in a "slowdown phase." Citi upgrades Intercontinental Exchange to buy from neutral Citi said it sees "improving signals across the platform" for the exchange company. Citi opens a positive catalyst watch on Apple Citi said it sees upside ahead of the company's new iPhone unveil in September. Citi reiterates Disney as buy Citi said it's sticking with its buy rating on stock heading into earnings next week. "
Persons: Stephens, it's, Morgan Stanley, Apple, tonight's, Rosenblatt, Raymond James, Goldman Sachs, Goldman, Oppenheimer, Tim Horton's, TD Cowen, Read, Truist, Lamb Weston, Stifel, Evercore Organizations: bil, Bank of America, AWS, underperform Bank of America, Apple, AMD, Citi, Intercontinental Exchange, ICE, Galactic, Virgin Galactic, Brands, Restaurant Brands, SSS, TH, BK, TD Cowen downgrades Moderna, Apple Citi, Disney, JPMorgan, Petrobras, Petrobras –, PayPal Locations: Coinbase, Burger, F1Q23
Fitch factored the January 6 riot into its decision to slash the US's credit rating, per Reuters. The ratings agency announced a surprise downgrade Tuesday, rattling stocks. Fitch cut the US's credit rating from top-tier AAA to AA+ late Tuesday, citing "a steady deterioration in standards of governance over the last 20 years, including on fiscal and debt matters". Biden administration officials immediately hit back at Fitch's downgrade, which Treasury Secretary Janet Yellen called "arbitrary and based on outdated data". Fitch is the second of the "Big Three" ratings agencies to cut the US's credit score.
Persons: Fitch, Richard Francis, Francis, Joe Biden, Fitch's, Biden, Janet Yellen Organizations: Service, Reuters, Trump, Treasury, Republicans, AAA, AA, House Republicans, Nasdaq, Dow Jones, Global Locations: Wall, Silicon, Washington
A viral image showing basketball star LeBron James in a pink outfit was created with AI-based tool Midjourney. While some users were able to discern the image was created with artificial intelligence (AI), others did not. “LeBron James setting a bad example for our Lil boys and money ain't everything,” said one post (bit.ly/3Qi247r). Reuters traced the image of James to Midjourney's Discord, on a channel called “#Newbies-185” (ibb.co/cyDNLb7). Representatives for Midjourney and James did not immediately respond to requests for comment.
Persons: LeBron James, , , Midjourney, James, lebron james, Gucci, James ’, Read Organizations: Facebook, Los Angeles Lakers, Lil, Reuters, Midjourney
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Muted markets U.S. markets reacted little to the Fed's rate hike. A much-anticipated Fed hike The Federal Reserve hiked by 25 basis points , taking rates to a target range of 5.25% to 5.5%, the highest since 2001. However, Chair Jerome Powell left the door open to a subsequent rate hike, saying the central bank will make decisions "meeting by meeting."
Persons: America —, Jerome Powell, , Powell, Frances Donald, Dow, CNBC's Fred Imbert, that'd Organizations: CNBC, Reserve, CNBC Pro, Wall, Revenue, Reality Labs, Dow Jones, CAC, Federal, Manulife Investment Management, Nasdaq, Dow Locations: America
The Federal Reserve is widely expected to boost interest rates by another quarter percentage point Wednesday afternoon – and that's terrific news for fixed income investors hoping to grab a little more yield. Since March 2022, the central bank has raised rates 10 times – with July's expected hike marking the 11 th increase – to cool inflation. Consider that during the week of March 11, 2022, the rate on the 2-year Treasury note was 1.75%, according to Refinitiv. Investors who wish to squeeze a little more interest income from their cash holdings have opted for Treasury bills, with the 6-month bill yielding 5.5%. By buying multiple notes of different maturities, investors can "ladder" these Treasurys and reinvest the proceeds from maturing bonds into longer-dated issues.
Persons: Greg McBride, maturities, tradeoffs, McBride, SLM —, Sallie Mae —, Nick Wells Organizations: Federal Reserve, Investors, Treasury, Bank of Locations: Bank of Indiana, Treasurys
In April, alongside its first-quarter results, J & J raised its full-year sales guidance by about $1 billion and its earnings-per-share outlook by 15 cents. Clearing this overhang would help reduce the discount at which J & J shares to pharmaceutical peers, the firm said. The Club's take: JPMorgan's thinking on J & J aligns quite closely with our own. The dark cloud of talc lawsuits continues to keep a lid on J & J's stock price. Joaquin Duato, chief executive officer of Johnson & Johnson, at the company's headquarters in New Brunswick, New Jersey, U.S., on Thursday, April 21, 2022.
Persons: Johnson, Eli Lilly, J, Wells, Wells Fargo, Eli Lilly's, , Eisai, Biogen, Bloomberg, we've, Jim Cramer's, Jim Cramer, Jim, Joaquin Duato, Amir Hamia Organizations: Johnson, JPMorgan, pharma, U.S ., Humana, UnitedHealth, Bloomberg, U.S, Mayo Clinic, Club, GE Healthcare, CNBC, Getty, & $ Locations: U.S, California, Wells Fargo, Rochester , Minnesota, New Brunswick , New Jersey
When looking for a smartwatch to act as a suitable extension of your smartphone, two of the top options currently available are the Google Pixel Watch and Apple Watch Series 8. Below is a quick side-by-side comparison of the flagship smartwatches from both Google and Apple. For example, The Pixel Watch requires an Android phone to run while th Series 8 only works on a device running iOS. If you're interested in learning more about the specifics of each model (and our experiences with them), take a look at our in-depth Google Pixel Watch review and Apple Watch Series 8 review. Below, we've broken down the pros and cons of each smartwatch and what you should consider before buying them.
Persons: they're Organizations: Google, Apple
Labor market hints at cooling U.S. stocks were mixed Thursday as markets digested the latest jobs data. This reflects a slowdown from the month prior, a sign that a resilient labor market may be cooling. Wells Fargo downgrade Analysts at Wolf Research downgraded Wells Fargo (WFC) to peer perform from outperform (hold from buy), citing the bank's risks from commercial real estate exposure, along with potential hits to net interest income (NII). 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, There's, Jeff Marks, we're, Morgan Stanley, Wells Fargo, Jim Cramer's, Jim Organizations: CNBC, Labor, Bureau of Labor Statistics, Federal, Walt Disney Co, Disney, Wolf Research, Club, DIS Locations: Wells, U.S
June 28 (Reuters) - Electronic equipment maker Keysight Technologies (KEYS.N) said on Wednesday it would acquire a controlling stake in French software firm ESI Group (ESIG.PA) in a 913 million euros ($995.81 million) deal. "Keysight's acquisition of ESI Group accelerates our strategy of providing software-centric solutions with virtual prototyping and advanced simulation capabilities," Keysight CEO Satish Dhanasekaran said in a statement. Once the deal is completed, Keysight will launch a mandatory tender offer for the remaining outstanding shares of ESI Group, it said. Th deal will increase Keysight's software revenue and annual recurring revenue, or ARR, Keysight said in a statement. ESI Group provides services in more than 15 countries and has about 1,000 employees.
Persons: Satish Dhanasekaran, Keysight, Th, Lavanya, Subhranshu Sahu, Rashmi Organizations: Keysight Technologies, ESI, ESI Group, Thomson Locations: California, Bengaluru
Our four industrial-focused stocks — Caterpillar (CAT), Emerson Electric (EMR), Honeywell (HON) and Linde (LIN) — have all been gaining steam over the past three months. There are positive short-term catalysts for our industrial holdings including the U.S. government's commitment to infrastructure spending, global decarbonization initiatives, and industrial automation. For all these reasons, Jim said EMR stock has been "stuck in the mud." EMR stock also pays a healthy 2.5% annual dividend yield and is a real dividend aristocrat. The Club's take: Jim expects Honeywell's stock to go higher from here as the market broadens beyond a handful of tech stocks.
Persons: Jim Cramer, Jim, he's, He's, Jerome Powell, we've, Jim Umpleby, Umpleby, Umpleby's, We're, Jim Wednesday, Emerson, Vimal Kapur, Lewis, Linde Linde, Linde, there's, Jim Cramer's, Luke Sharrett Organizations: Caterpillar, Emerson Electric, Honeywell, Linde, LIN, Federal, Dow Jones, Nasdaq, Tech, Companies, U.S, Caterpillar Caterpillar, CAT, Emerson, National, HSBC, Management, National Instruments, Honeywell Honeywell, CNBC, Whayne, Bloomberg, Getty Locations: China, Wells, Louisville , Kentucky
In the early 20 th century, farmers across the Great Plains harnessed new technology to cash in on a huge demand for wheat. But over-farming led to the removal of prairie grasses which had kept the topsoil in place. For years, the region was bombarded by monster dust storms called "black blizzards" that sometimes buried entire houses in grit. During the 1930s, after an intensive period of over-farming, dust storms regularly wreaked havoc, blanketing towns and farms in grit, destroying crops and making people sick. The drought and storms led to one of the largest mass migrations in a short period of time in US history.
Organizations: Service
Following the procedural vote, Manchin released a statement of support for "overturning reckless student loan plan." Instead, we should be focusing on bipartisan student debt reforms that reduce the cost of higher education and help all Americans." "But make no mistake: voting for this CRA isn't just a vote against the President's student debt cancellation plan. And Schumer wrote on Twitter on Wednesday that "Senate Republicans talk a big game about helping working families. Sen. Bill Cassidy, one of the sponsors of the bill, wrote on Twitter that "Biden's so-called student debt "forgiveness plan" doesn't actually forgive or cancel the debt.
Persons: Democratic Sen, Joe Manchin, , Joe Biden's, — Kyrsten Sinema, John Tester, Manchin —, Biden, Manchin, Chuck Schumer, Massachusetts Sen, Elizabeth Warren, Warren, It's, Schumer, Sen, Bill Cassidy, doesn't Organizations: Democratic, GOP, Service, Privacy, Republicans, Biden, Manchin, Massachusetts, Twitter
In 2017, with Mr. Connors’ help, Mr. Maichle started his own company, Precision Compliance Consulting. ‘Boss Man’Mr. Connors, Mr. Lewis and Mr. Maichle were all active in college conservative politics in Wisconsin about 15 years ago, when Mr. Connors was the leader of campus Republicans at Marquette University. Of that, about $102,000 went to Campaign Now, the firm started by Mr. Connors, and another $112,000 to companies where Mr. Connors, Mr. Maichle or Mr. Lewis was either the owner or a partner, tax records show. Most of the money — more than $4.4 million — went to fund-raising companies via tens of thousands of small payments. Most of the money — more than $4.4 million — went to fund-raising companies via tens of thousands of small payments.
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