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☆ The rest of the market will have to participate to hold the rally, says Virtus' Joe Terranova
▼ + stars: | 2024-06-06 | 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 rest of the market will have to participate to hold the rally, says Virtus' Joe TerranovaJoe Terranova, senior managing director at Virtus Investment Partners, joins 'Closing Bell' to discuss Nvidia's run, the upcoming jobs report and potential Fed reaction, and what it means for the markets.

Persons: Virtus, Joe Terranova Joe Terranova Organizations: Virtus Investment Partners

☆ Stocks are about to hit a 'wall of money' that will drive the market to record highs in July, Goldman Sachs says
▼ + stars: | 2024-06-06 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

A record $7.3 trillion in money market funds could soon be reinvested elsewhere, according to Goldman Sachs. AdvertisementA "wall of money" is headed for the stock market this summer and will drive equities to record highs, according to a recent note from Goldman Sachs' trading desk. Goldman Sachs managing director Scott Rubner highlighted in the note that a record $7.3 trillion is sitting in money market funds, and a large chunk of that is poised to flow into stocks. AdvertisementIf the Fed cuts rates, then the cash yield on money market funds should drop from its current level of about 5%. AdvertisementWith stocks already trading at records, the gains Rubner expects would send the stock market to fresh highs.

Persons: Goldman Sachs, seasonals, —, Scott Rubner, Rubner, NDX Organizations: Service, Federal Reserve, Nasdaq

☆ India market's knee-jerk reaction was attributed to election exit polls going wrong: HDFC securities
▼ + stars: | 2024-06-05 | 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 EmailIndia market's knee-jerk reaction was attributed to election exit polls going wrong: HDFC securitiesDhiraj Relli, managing director and CEO of HDFC Securities, discusses India's election results and their impact on the market.

Organizations: India, HDFC Securities

☆ Golub Capital: Private equity and credit will continue to grow.
▼ + stars: | 2024-06-05 | 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 EmailGolub Capital: Private equity and credit will continue to grow. Tara Moore, managing director and head of European operations at Golub Capital, discusses the Super Return event in Berlin.

Persons: Tara Moore Organizations: Golub, Private, Golub Capital Locations: Berlin

☆ Trade Tracker: Joe Terranova buys the XLG
▼ + stars: | 2024-06-05 | 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 EmailTrade Tracker: Joe Terranova buys the XLGJoe Terranova, senior managing director at Virtus Investment Partners, joins CNBC's "Halftime Report" to explain why he's buying the ETF.

Persons: Joe Terranova Organizations: Virtus Investment Partners

☆ Archer Aviation's Adam Goldstein and United Airlines Venture's Andrew Chang talk air taxi progress
▼ + stars: | 2024-06-05 | 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 EmailArcher Aviation's Adam Goldstein and United Airlines Venture's Andrew Chang talk air taxi progressAdam Goldstein, Archer Aviation co-CEO & co-founder and Andrew Chang, United Airlines Ventures managing director, join CNBC's Phil LeBeau and 'Closing Bell Overtime' to talk getting another step closer to commercial air taxi.

Persons: Archer Aviation's Adam Goldstein, Andrew Chang, Adam Goldstein, Archer, Phil LeBeau Organizations: United Airlines, Archer Aviation, United Airlines Ventures

☆ Three-Stock Lunch: Hewlett Packard Enterprise, Campbell Soup & Lululemon
▼ + stars: | 2024-06-05 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: Hewlett Packard Enterprise, Campbell Soup & LululemonBoris Schlossberg, BK Asset Management managing director of FX strategy, joins 'Power Lunch' to discuss plays for three stocks, including Hewlett Packard, Campbell Soup, and Lululemon.

Persons: Campbell, Boris Schlossberg, Hewlett Packard, Campbell Soup Organizations: Hewlett Packard Enterprise, BK Asset Management

☆ AI hype continues to fuel market returns, says Neuberger's Holly Newman Kroft
▼ + stars: | 2024-06-05 | 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 EmailAI hype continues to fuel market returns, says Neuberger's Holly Newman KroftHolly Newman Kroft, Neuberger Berman private wealth managing director, joins 'Money Movers' to discuss whether Kroft is buying the current market momentum, what the managing director tells clients to do, and more.

Persons: Neuberger's Holly Newman, Holly Newman Kroft, Neuberger Berman

☆ Indian Prime Minister Narendra Modi's election shortfall leaves Wall Street scrambling
▼ + stars: | 2024-06-05 | by ( Seema Mody | ) www.cnbc.com time to read: +5 min

Indian Prime Minister Narendra Modi gestures, at the Bharatiya Janata Party (BJP) headquarters in New Delhi, India, June 4, 2024. Over the past several years, chief executives from some of the biggest companies in the United States have invested time and money into relationships with Modi, as they set their sights on the Indian market. Modi's economic agendaModi's failure to secure a supermajority for his party also raises new questions about the Modi government's broader economic agenda. Now, one of the labor laws that Modi's government had intended to reform may not get implemented, because Modi's party, the Bharatiya Janata Party, or BJP, no longer holds an outright majority in Parliament. Supporters of the ruling Bharatiya Janta Party (BJP) holding cut-outs of India's Prime Minister a Narendra Modi during an election campaign rally in Amritsar on May 30, 2024.

Persons: Narendra Modi, Adnan Abidi, Garre, Modi, Pramit Chaudhuri, Rahul Sharma, Shafer Cullen, Sharma, Chaudhuri, Raghuram Rajan, Rajan, Narinder Nanu Organizations: Indian, Bharatiya Janata Party, BJP, Reuters, Bernstein, GE Aerospace, Apple, Nvidia, CNBC, Modi, Coalition, Asia Society's, Reserve Bank of India, University of Chicago's Booth School of Business, Bharatiya Janta Party, India's, Afp, Getty Locations: New Delhi, India, United States, China, Asia, Asia Society's India, Eurasia, Amritsar

☆ Electric air taxi maker Archer Aviation gets key FAA sign-off
▼ + stars: | 2024-06-05 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Midnight, an all-electric aircraft from company Archer Aviation, is seen at the Salinas Municipal Airport in Salinas, California, on Aug. 2, 2023. The Federal Aviation Administration has granted Archer Aviation a key certification that gets the electric air taxi maker closer to eventually flying travelers, the company said Wednesday. United is working with Archer on what it would look like to enter the electric aircraft into service. Archer has partnered with automaker Stellantis to produce hundreds of the electric air taxis. On Tuesday, Joby said it plans to acquire the autonomy division of autonomous aviation company Xwing.

Persons: Archer, Adam Goldstein, Goldstein, couldn't, Andrew Chang, Joby Organizations: Archer Aviation, Salinas Municipal Airport, Federal Aviation Administration, United Airlines, CNBC, FAA, Joby Aviation, U.S . Air Force, Delta Air Lines Locations: Salinas, Salinas , California, Manhattan, Newark , New Jersey

☆ Apple alerted Amazon about a potential cloud security risk, prompting a change in AWS's data-deletion process
▼ + stars: | 2024-06-05 | by ( Eugene Kim | ) www.businessinsider.com time to read: +9 min

Read previewAmazon Web Services made major changes to its data-deletion process after Apple alerted the cloud giant about a potential security risk, according to an internal document obtained by Business Insider. However, the AWS cloud services involved store information such as software, text, audio, video, images, resource identifiers, metadata tags, and permissions. These people asked not to be identified discussing a sensitive cloud security issue. Security is a top priority for AWSAmazon Web Services CEO Matt Garman AmazonFor AWS, security has always been a top priority. The AWS security team suggested taking actions to "meaningfully improve" the quality of the data-deletion process and "define a clear guideline" around it.

Persons: —, It's, Patrick Neighorn, Neighorn, didn't, it's, Justin Cappos, Fabrice Delhoste, Ken Elefant, Matt Garman, Brad Smith Organizations: Service, Services, Apple, Business, Amazon, AWS, BI, Employees, NYU, Sorenson Ventures, Security, Web, US Homeland Security, Microsoft, Committee

☆ Why You’ll Pay More and Behave Better When You Travel This Summer
▼ + stars: | 2024-06-04 | by ( Paige Mcclanahan | ) www.nytimes.com time to read: +1 min

Ahead of the summer travel season, leaders in many tourist spots have adopted measures to tame the tourist crowds — or at least earn more revenue from them. The goal is to ensure that tourism functions smoothly for visitors and locals alike, said Megan Epler Wood, managing director of the Sustainable Tourism Asset Management Program at Cornell University. “All tourism is dependent on beautiful natural and cultural resources. You have to protect those resources in order to be a viable tourism destination — and if you don’t, they degrade,” Ms. Epler Wood said. In some places, proposals for new fees or visitor rules have drawn opposition from residents, who fear they might scare away the tourists who bolster the local economy.

Persons: Megan Epler Wood, Ms, Epler Wood Organizations: Tourism, Management, Cornell University Locations: Bali . Higher, Amsterdam, Paris, Milan, Majorca

☆ Take a tour inside a Parisian hotel suite that costs $52,000 per night
▼ + stars: | 2024-06-03 | by ( ) www.cnbc.com time to read: +1 min

There are 78 rooms at Paris' Hôtel de Crillon, but only two "Les Grand Appartements." The apartments can be combined, along with an adjoining room, to make a three-bedroom mega-suite that covers 335 square meters (3,606 square feet) of the hotel's fourth floor. Famed fashion designer Karl Lagerfeld designed the interiors down to the smallest of details, the hotel's Managing Director Vincent Billiard told CNBC. There's even a "secret room," said Billiard, hidden behind a bookcase that, with a push of a button, opens to reveal a magnificent dressing room. Watch the full video to see the suite's "secret room."

Persons: Karl Lagerfeld, Vincent Organizations: Vincent Billiard, CNBC Locations: Paris, Versailles

☆ Investors need to 'keep the faith' in tech stocks, says UBS' Alli McCartney
▼ + stars: | 2024-06-03 | 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 EmailInvestors need to 'keep the faith' in tech stocks, says UBS' Alli McCartneyAlli McCartney, UBS managing director, joins 'Squawk on the Street' to discuss why investors should keep their faith in tech stocks, if these plays work in both higher and lower growth environments, and more.

Persons: Alli McCartney Alli McCartney Organizations: UBS

☆ Khosla Ventures backs weather balloon startup that uses AI to upend forecasts
▼ + stars: | 2024-06-03 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Windborne uses a new type of weather balloon, for example. Windborne's balloons can fly for weeks, as opposed to today's government-launched weather balloons which stay aloft for just a few hours and can't reach remote locations. The world currently lacks weather data for 85% of the atmosphere, according to the World Meteorological Organization (WMO). Windborne just closed a $15 million round with lead investor Khosla Ventures. In addition to Khosla Ventures, Windborne is backed by Footwork VC, Pear VC, Convective Capital, Ubiquity Ventures and Susa Ventures.

Persons: John Dean, Dean, Sven Strohband, Windborne Organizations: National Oceanic, Atmospheric Administration, Investors, Google, World Meteorological Organization, Khosla Ventures, Weather Company, Economic, Windborne, Susa Ventures Locations: California, Susa

☆ Kunst: Nvidia's problem is their competitors are catching up fast
▼ + stars: | 2024-06-03 | 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 EmailKunst: Nvidia's problem is their competitors are catching up fastSarah Kunst, Managing Director at Cleo Capital, discusses new AI chips from Nvidia and AMD.

Persons: Sarah Kunst, Capital Organizations: Kunst, Nvidia, AMD

☆ Go inside one of the world’s most iconic hotels: Raffles Hotel Singapore
▼ + stars: | 2024-06-03 | by ( ) www.cnbc.com time to read: +1 min

Few hotels are as synonymous with old world grandeur and colonial architecture as the Raffles Hotel Singapore — the hotel of choice for the city-state's visiting elite since it first opened in 1887. Built upon three hectares near the city's Central Business District, the hotel is itself a tourist attraction. Visitors stop to photograph its ornate façade or to sip a Singapore Sling at the drink's birthplace, the hotel's Long Bar. But half of the hotel is reserved for guests only, said Managing Director Christian Westbeld. Watch the full video to see more of Raffles Hotel Singapore.

Persons: Rudyard Kipling, Catherine , Princess, Christian Westbeld Organizations: Raffles Hotel, Central Business District, Sling, CNBC Locations: Raffles Hotel Singapore, Wales

☆ Nvidia and AMD are now on annual product releases, says Bernstein's Stacy Rasgon
▼ + stars: | 2024-06-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia and AMD are now on annual product releases, says Bernstein's Stacy RasgonStacy Rasgon, Bernstein Research managing director and senior analyst, joins 'Squawk on the Street' to discuss Nvidia and AMD's new AI chips, whether Nvidia will maintain its unrivaled position, and much more.

Persons: Bernstein's Stacy Rasgon Stacy Rasgon Organizations: Nvidia, AMD, Bernstein Research

☆ ‘Not all debt needs to be paid off as soon as possible,’ says CFP—what to focus on first
▼ + stars: | 2024-05-31 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

A little over 40% of Americans would consider themselves financially successful if they were able to clear their debt, according to a recent Bankrate survey. That number includes mortgage debt, car loans, student loan debt and credit card debt. "Not all debt needs to be paid off as soon as possible," she tells CNBC Make It. For each debt, include the name of your lender, your outstanding balance, the minimum payment, any due dates and the interest rate. And the interest rate for federal student loans ranges from 5.5% to 8.05%, per the Department of Education.

Persons: isn't, Avani Ramnani, Francis, Ramnani, Matt Schulz, Louis Organizations: New York Federal Reserve, Francis Financial, CNBC, Federal Reserve Bank of St, of Education

☆ The Fed’s preferred inflation measure rose 0.2% in April, as expected
▼ + stars: | 2024-05-31 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Inflation rose about as expected in April, with markets on edge over when interest rates might start coming down, according to a measure released Friday that is followed closely by the Federal Reserve. Including the volatile food and energy category, PCE inflation was at 2.7% on an annual basis and 0.3% from a month ago. Goods prices rose 0.2% while services saw a 0.3% increase, continuing a normalization trend for an economy in which services and consumption provide much of the fuel. Personal income increased 0.3% on the month, matching the estimate, while spending rose just 0.2%, below the 0.4% estimate and off March's downwardly revised 0.7%. "The PCE Price Index didn't show much progress on inflation, but it didn't show any backsliding, either.

Persons: Dow Jones, Dan North, Jerome, Powell, I'm, Chris Larkin, Morgan Stanley, John Williams Organizations: Federal Reserve, Commerce Department, Labor Department, The Commerce Department, North America, Allianz Trade, Treasury, New York Fed

☆ A massive leak of Google Search documents sparks fury across the SEO industry: 'This is another level of war'
▼ + stars: | 2024-05-31 | by ( Hugh Langley | Lara O'Reilly | ) www.businessinsider.com time to read: +10 min

AdvertisementThe already-frenetic SEO community went into overdrive, with social-media sites and industry forums buzzing over the trove. "This is another level of war between SEOs and Googlers," said Lily Ray, a vice president at the SEO agency Amsive. Those crawlers are designed to ensure Google's search results return the most relevant and up-to-date information to the user. Some business owners have reported catastrophic website-traffic drops following two recent major Google Search algorithm updates in the span of months, while sites such as Reddit and Quora have flooded the top of search results pages. Google's response was met with an equally dubious one from the search community.

Persons: —, Lily Ray, , Erfan Azimi, Azim, we've, Azimi, We've, Gareth Hoyle, SEOs, Prabhakar Raghavan, Grace Frohlich, Michael King, King, Solís, Amsive's Ray, Sundar Pichai, JOSH EDELSON, Rand Fishkin, SparkToro, Eric Hoover, Hoover Organizations: Service, Google, Business, EA Eagle Digital, Marketing Signals, Google's Department, Justice, Chrome, coy, iPullRank, YouTube Locations: SEOs

☆ Mega backdoor Roth conversions can be a 'no brainer' for higher earners, expert says
▼ + stars: | 2024-05-31 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

If you're a higher earner and looking to boost tax-free retirement savings, there's a lesser-known strategy that could be worth considering. While Roth individual retirement accounts offer tax-free growth and other benefits, some investors earn too much for direct contributions. For 2024, the adjusted gross income limits for Roth IRA contributions are $161,000 for single filers or $240,000 for married couples filing jointly. However, so-called mega backdoor Roth conversions — which shift after-tax 401(k) contributions to a Roth account — can sidestep Roth IRA income limits for contributions. It's a "no-brainer" after maximizing other tax-advantaged options, assuming you don't need the cash for other goals, said certified financial planner Brian Schmehil, managing director of wealth management at The Mather Group in Chicago.

Persons: Roth, sidestep Roth, It's, Brian Schmehil, Schmehil Organizations: The Mather, Finance Locations: Chicago

☆ France is aiming to become a global AI superpower — but not without help from U.S. Big Tech
▼ + stars: | 2024-05-31 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

AI everywhere at Viva TechAt Viva Tech, AI was everywhere. France boasts a strong AI research and development ecosystem, home to key facilities like the Facebook AI Research center from Meta and Google's AI research hub in Paris, as well as leading universities. He referred to H's mammoth funding round as an example of the momentum surrounding French AI right now. watch nowLevy said roughly 40% of the tech demos at Viva Tech were AI. He said that Google's recently introduced Gemma AI, a lightweight, open-source model, was developed heavily at the U.S. internet giant's Paris AI hub.

Persons: Emmanuel Macron, Yoan Valat, Eric Schmidt, Porte, Bruno Le Maire, CNBC's Arjun Kharpal, Le Maire, Etienne Grass, Capgemini, Imran Ghory, Ghory, CNBC's Andrew Ross Sorkin, Macron, Mistral, Yann LeCun, James Manyika, Google's, Maurice Levy, Karen Tso, Levy, Google's Manyika, Gemma AI Organizations: Afp, Getty, PARIS —, Viva Technology, Microsoft, Viva Tech, L'Oreal, Porte de, Facebook, CNBC, Blossom, Meta, Google, Paris, Groupe, U.S, Innovation Locations: Elysee, Paris, France, PARIS — France, China, Europe, Meta, French, U.S, Israel, Dealroom

☆ Salesforce shares plunge on first revenue miss since 2006: Here's what to know
▼ + stars: | 2024-05-30 | 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 EmailSalesforce shares plunge on first revenue miss since 2006: Here's what to knowBrian Schwartz, Oppenheimer senior analyst and managing director, joins 'Squawk Box' to break down Salesforce's quarterly earnings results, which reported weaker-than-expected revenue and issued guidance that trailed Wall Street’s expectations, impact of the company's AI offering, and more.

Persons: Brian Schwartz, Oppenheimer

☆ A wave of AI 'acquihires' is coming. Here's who could be looking for deals.
▼ + stars: | 2024-05-30 | by ( Rebecca Torrence | Riddhi Kanetkar | ) www.businessinsider.com time to read: +8 min

But the tech giant's play underscores the market's demand for tech talent — and venture capitalists expect a wave of "acquihires" to hit the AI ecosystem later this year. M&A dealmaking among AI startups is already off to a strong start this year, with 55 exits recorded in Q1 of 2024, per Crunchbase data. AdvertisementThe majority of AI startups are overpriced, said Konstantin Vinogradov, general partner at Runa Capital. AI startups with revenue in the single-digit millions that raised money at unicorn valuations, Dash said, might not even have that option. Those deals don't make sense for buyers, he said, which could lead Big Tech companies or other AI startups to poach their talent instead.

Persons: —, Inflection's, Ayangar, Konstantin Vinogradov, Somesh Dash, overshadowing, Shmuel Chafets, Sivesh Sivakumar, Shaun Johnson, Naveen Rao, Sivakumar, Johnson, PhotoRoom, Aravind Srinivas, Mike Smeed, Chafets, Dash, they'll Organizations: Service, Microsoft, Business, Investors, Runa, Big Tech, Apple, Target, Ventures, Accenture, Boston Consulting Group, Intuit, Nike, American Express, Safeway, InMotion Ventures, Disney, Netflix Locations: OpenOcean, Snowflake, Databricks

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