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☆ Trading CPI: How stocks could react to Wednesday’s inflation report
▼ + stars: | 2024-05-14 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Traders at JPMorgan broke down how they expect stocks will react to Wednesday's report, with a focus on core CPI month over month, based on six different scenarios: 40% chance — The reading rises 0.3%-0.35%: This is the most likely outcome, per JPMorgan traders. S & P 500 moves could range between a 0.5% loss and a 1% gain. 10% chance — Core inflation climbs more than 0.4%: The S & P 500 would drop 1.75% to 2.5% under such a hot report, JPMorgan traders think. 7.5% chance — Core CPI gains 0.2%-0.25%: A decline in housing cost increases along with lower core goods prices could make this outcome possible. It would also send the S & P 500 up 1.5% to 2%, JPMorgan traders said.

Persons: Dow Jones, Defensives outperforming Organizations: CPI, Traders, JPMorgan, of Labor Statistics

☆ Top bond fund manager Ford O'Neil of Fidelity reveals his 'secret sauce' to generate outperformance
▼ + stars: | 2024-05-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

He previously took home the title of Morningstar fixed-income manager of the year in 2016. Generating long-term outperformance The largest among the many funds O'Neil co-manages is the Fidelity Total Bond Fund (FTBFX), which has $35.8 billion in assets and a 5.32% 30-day SEC yield. From December 2004 through the end of March 2024, Fidelity Total Bond Fund's 3.7% annualized gain topped the typical intermediate core-plus bond Morningstar Category fund's 3.3% and the 3.1% of its benchmark, the Bloomberg U.S. The 'secret sauce' The fixed-income team also benefits from teaming up with equity analysts when they talk to corporate executives, public agencies and government issuers. "If you're a buyer of nominal yields, you're finding the market very attractive.

Persons: Fidelity's Ford O'Neil, O'Neil, O'Neil —, Morningstar, Ford …, Dan Culloton, Morningstar's Culloton, FTBFX, it's Organizations: Fidelity, Harvard University, One, CNBC, Harvard, Bond Fund, SEC, Bloomberg U.S, Total Bond, Bond, Federal Reserve, Fed, Treasury Locations: Wharton, U.S

☆ These are the new meme stocks getting the most buzz on message boards
▼ + stars: | 2024-05-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Meme stocks are back, and the mania is actually spreading far beyond GameStop and AMC Entertainment . The latest frenzy was triggered by a single post on social media site X from "Roaring Kitty," the man who inspired the epic meme stock mania in 2021. Quiver Quantitative , an alternative data analytics firm, looked to find all the meme stocks that are popular among the Reddit traders. A few names associated with the artificial intelligence boom also became popular meme stocks, including voice AI and speech recognition company SoundHound AI , AI IT services firm BigBear.ai and Super Micro Computer , a maker of servers. Other under-the-radar meme names included B. Riley Financial, Spirit Airlines , Tilray Brands and Smart for Life.

Persons: Smart, Riley Organizations: GameStop, AMC Entertainment, Marathon Digital, IT, Micro, Nvidia, Riley, Spirit Airlines, Tilray

☆ Money or talent? What's actually driving hedge funds to Abu Dhabi and Dubai
▼ + stars: | 2024-05-14 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +9 min

Millennium, Brevan Howard, Schonfeld, and ExodusPoint are just a few of the funds that have put roots down in either Abu Dhabi or Dubai. Meanwhile, Bridgewater's Ray Dalio bought a penthouse in Abu Dhabi as he compliments the country's policies. When one US-based hedge fund fundraiser met with Abu Dhabi officials late last year, he didn't expect much to come of it. He lauded everything from the Louvre outpost in Abu Dhabi to the warm weather to the responsiveness from government officials. A Bloomberg story on Abu Dhabi notes that it's fast-tracking country-club admissions for new wealthy immigrants.

Persons: —, Brevan Howard, Schonfeld, Bridgewater's Ray Dalio, Austen Smart, Tighe, Smart, Alan Howard, Greg Coffey, Danny Yong, hoover, Doug Greenig, Morgan, Point72, Steve Cohen, Viking Global's Andreas Halvorsen, keynotes, Howard, Abu Dhabi, Craig Bergstrom, Bobby Jain's, Florin Court's Greenig, Abu, Floring Organizations: Service, United Arab Emirates, titans, Business, Tighe International, Florin Court Capital, Morgan Stanley's, Dubai Financial Services Authority, Abu, Abu Dhabi Investment Authority, Mubadala Investment Company, Corbin Capital, Abu Dhabi Global, Hong Kong, pats, Bloomberg Locations: Dubai, Abu Dhabi, London, New York, Mumbai, UAE, Asia, Switzerland, It's, Gaza, Iran, Palm, Europe, Cayman Islands, Jersey, Miami, San Franciso, Riyadh, Saudi

☆ GameStop, AMC shares jump another 40% in premarket trading as meme stock craze returns
▼ + stars: | 2024-05-14 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

Shares of GameStop and AMC jumped around 40% in premarket trading on Tuesday, on track to extend gains after "Roaring Kitty," the man at the center of the meme stock craze, posted online for the first time in roughly three years. Shares of video game retailer GameStop traded 40% higher at 4:50 a.m. GameStop on Monday climbed a whopping 74.4%, while AMC soared 78.4% in the previous trading session. Roaring Kitty, whose legal name is Keith Gill, is a former marketer for Massachusetts Mutual Life Insurance. Also known as DeepF------Value on Reddit, Gill drew an army of day traders who cheered each other on and piled into the brick-and-mortar video game stock and in GameStop call options between 2020 and 2021.

Persons: Kitty, Keith Gill, Gill, Yun Li, Fred Imbert Organizations: GameStop, AMC, Massachusetts Mutual Life Insurance Locations: New York

☆ GameStop, AMC rallies like 'watching a sitcom on repeat,' expert says. Here are the risks to monitor
▼ + stars: | 2024-05-14 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

Spencer Platt | Getty ImagesShares of AMC Entertainment and GameStop have surged once again in a new "meme stock" rally triggered by social media. A social media account named "Roaring Kitty" posted an image for the first time in three years, prompting the trading frenzy. The man purportedly behind the Roaring Kitty account helped lead a meme stock frenzy between 2020 and 2021. watch nowIn some ways, this time differs from when the stocks surged during the Covid-19 lockdown. Roaring Kitty gives the impression that a guy is in his basement trading stocks instead of big investors like hedge funds and investment banks, he said.

Persons: Spencer Platt, Kitty, Dan Egan, Egan, aren't, Roaring Kitty Organizations: New York Stock Exchange, Getty, AMC Entertainment, GameStop Locations: New York City, Las Vegas

☆ This rallying energy drink stock is set to break out above $100, according to the charts
▼ + stars: | 2024-05-14 | by ( Todd Gordon | ) www.cnbc.com time to read: +3 min

Celsius (CELH) is an energy drink company that emerged from small cap status in 2020 to a $21 billion market cap company today. The stock carries a hefty valuation, but with the recent breakout following earnings last week I think it can rally even higher. I first wrote about Celsius here on Jan 17 as the stock was gearing up to break through the $63 and $69 resistance levels. The fundamental case Even so, last week's Q1 earnings report was met with some confusion. The chart below shows CELH quarterly revenue growth with the most recent quarter showing a slight lower-high based on that $355 million top line figure.

Persons: Red Bull, we'll, Todd Gordon, Gordon, CELH Organizations: Red, Monster Beverage, Elliott, Pepsi, Tactical Alpha, Inside Edge, Inside Edge Capital Management

☆ Forget U.S. stocks — UBS says Europe's are a better bet. Here's why
▼ + stars: | 2024-05-14 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

Michael M. Santiago | Getty ImagesEuropean stocks are now more attractive than their U.S. counterparts, according to Swiss Bank UBS , with factors such as economic data, interest rates and earnings playing a key role. In a note entitled: "A U-Turn: Favouring Europe over US equities," the bank's strategists said European stocks excluding the U.K. now outrank the U.S. on its "regional scorecard." UBS outlined a number of reasons for its "U-turn," especially given U.S. markets tend to outperform European ones. Indicators tracked by the bank — such as purchasing managers' index (PMI) data — suggest an upside risk to European GDP, and a downside risk to U.S. GDP, the bank said. Some of Europe's central banks have already begun easing, and the European Central Bank is expected to do so as soon as June.

Persons: Michael M Organizations: New York Stock Exchange, Santiago, Getty, Swiss Bank UBS, UBS, U.S, European Central Bank Locations: New York City, U.S, Europe, Japan, Swiss

☆ European stocks head for lower open as global markets await U.S. inflation data
▼ + stars: | 2024-05-14 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European stocks are heading for a lower open Tuesday as global investors await the latest U.S. inflation reports. April's consumer price index report is due out on Wednesday and economists expect that it rose 0.4% in April on a month-over-month basis, or 3.4% from 12 months earlier. Overnight, Asia-Pacific markets pared gains hours after opening higher on Tuesday as stocks on Wall Street stumbled Monday, with the Dow Jones Industrial Average snapping an eight-day winning streak. U.S. stock futures flickered near the flatline Monday evening as Wall Street braced itself for the release of the producer price index reading for April on Tuesday. Economists polled by Dow Jones anticipate that the PPI gained 0.3% from the previous month.

Persons: Dow Jones Organizations: Traders, Federal, Dow Jones, PPI Locations: Asia, Pacific

☆ Revival of Meme Stock Mania Continues for GameStop and AMC
▼ + stars: | 2024-05-14 | by ( Bernhard Warner | More About Bernhard Warner | ) www.nytimes.com time to read: +1 min

Wall Street is feeling meme stock déjà vu. The shares of the movie theater chain AMC Entertainment were similarly buoyant, and obscure cryptocurrencies named after Roaring Kitty and GameStop posted huge gains. Retail traders have been spurred on by the return of Roaring Kitty to social media after a three-year hiatus. Aside from Roaring Kitty’s return to social media, the rally was not driven by any evident news about GameStop or AMC. “Given my past experience in analyzing the periodic bouts of meme stock activity, consider me suspicious,” Sosnick wrote in a research note.

Persons: Keith Gill, Roaring, Gill, Steve Sosnick, ” Sosnick Organizations: GameStop, Netflix, AMC Entertainment, Retail, AMC, Interactive

☆ Trump Media has reawakened the meme stock monster as GameStop surges
▼ + stars: | 2024-05-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —We in the financial press tend to talk about the meme stock revolution (or craze, or frenzy, or mass delusion) in the past tense. Another meme stock, Trump Media and Technology Group, the Donald Trump-owned media company that controls Truth Social, brought back memories of the 2021 GameStop bonanza. With Trump Media, Trump supporters and other speculative traders pumped up the stock not for its (extraordinarily lousy) fundamentals, but more as a vote of support for the former president’s campaign and even a barometer of his winning chances. We’re not quite as exuberant today as we were then, but we’re still within spitting distance of all-time highs on major stock indices, Sosnick notes. In some ways, the arrival in the spring of Donald Trump’s media company reawakened the meme stock monster.

Persons: CNN Business ’, Wall, Keith Gill, Kitty, DeepF, Steve Sosnick, who’ve, Gill, Donald Trump, Donald Trump’s, DJT, ” Sosnick, Michael Pachter, David, Melvin Capital, Gabe Plotkin’s, ”, Plotkin, “ Organizations: CNN Business, New York CNN, GameStop, Interactive Brokers, Trump Media, Technology Group, AMC, Trump, Wedbush Securities Locations: New York

☆ Reddit shares close near record after two-day rally driven by meme stocks
▼ + stars: | 2024-05-14 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

Traders work as Reddit's logo is displayed, at the New York Stock Exchange (NYSE) in New York City, U.S., March 21, 2024. Reddit shares popped 7% on Tuesday, climbing for a second straight day after retail traders kicked off a buying frenzy of so-called meme stocks. The stock closed at $62.34, Reddit's second-highest close since its IPO in March. The rally began Monday when "Roaring Kitty," aka Keith Gill, the man who inspired meme stock mania in 2021, resurfaced online, sending shares of GameStop and AMC soaring. Other stocks that have been bunched in with the meme group rose, including BlackBerry , Koss and SunPower .

Persons: Reddit's, Keith Gill, Gill, Reddit Organizations: New York Stock Exchange, GameStop, AMC, BlackBerry Locations: New York City, U.S

☆ ‘Frankly stupid’: Fund manager weighs in on reignited meme stock frenzy as GameStop soars
▼ + stars: | 2024-05-14 | by ( Vicky Mckeever | ) www.cnbc.com time to read: +1 min

Fund manager Cole Smead has described the meme stock craze as "frankly stupid," as day traders once again pile into GameStop and AMC . The jump was seemingly prompted by a post on social media platform X by "Roaring Kitty," who in 2021 encouraged an army of day traders to pile into GameStop. In premarket trading on Tuesday, shares in GameStop and AMC were up 47% and 51% respectively at 6 a.m. E.T. Quoting "the late, great Charlie Munger," Smead said the day traders were "just taking in rat poison." Munger, who passed away last year, was the vice chairman of Berkshire Hathaway and famously described cryptocurrency as "rat poison."

Persons: Cole Smead, You've, Roaring, Kitty, Keith Gill, E.T, Charlie Munger, Smead, Munger, Berkshire Hathaway, Yun Li, Fred Imbert Organizations: GameStop, AMC, Smead Capital Management, Massachusetts Mutual Life Insurance, Berkshire

☆ Hedge-fund manager Boaz Weinstein says meme stock rally makes 'mockery' of investing
▼ + stars: | 2024-05-14 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The meme stock craze is back , but hedge-fund titan Boaz Weinstein said he wants nothing to do with it. The resurgence of meme mania began late Sunday when " Roaring Kitty ," the man who first ignited the meme stock phenomenon through GameStop in 2021, posted on X for the first time since then. Beyond meme stocks, Weinstein said there's sure to be plenty of volatility in the "foggy" market in the months to come, citing inflation, geopolitics and the upcoming U.S. presidential election. When you put all that together … we're going to have a credit crunch in the next couple of years if things don't change." "Maybe in both cases, there's going to be plenty of volatility, and I'm quite excited for it," he added.

Persons: Boaz Weinstein, Weinstein, CNBC's, there's, … we're, Donald Trump Organizations: Saba Capital Management, GameStop, AMC

☆ Watch Tuesday's full episode of Fast Money — May 14, 2024
▼ + stars: | 2024-05-14 | 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 Tuesday's full episode of Fast Money — May 14, 2024"Fast Money" is America's post-market show. Hosted by Melissa Lee and a roundtable of top traders, "Fast Money" breaks through the noise of the day, to bring you the actionable news that matters most to investors.

Persons: Melissa Lee

☆ Behind the curtain of the global arms trade
▼ + stars: | 2024-05-14 | by ( Momo Takahashi | ) www.businessinsider.com time to read: +7 min

In his new book, "Nothing Personal: The Back Office of War," photographer Nikita Teryoshin lifts the veil on the global arms trade, capturing defense exhibitions worldwide. Closed to the public, his series offers a rare inside look into the lucrative global arms industry. Guests, politicians, and traders watch a live demonstration of warfare at the International Defense Exhibition in Abu Dhabi. After the construction and the oil and gas sectors, the global arms trade is one of the most corruption-prone sectors in the world, according to Transparency International. By contrast, the international trade of bananas is more tightly regulated than the arms trade, according to the introductory note of the United Nations Arms Trade Treaty.

Persons: Nikita Teryoshin, Teryoshin, Rafael, KAI, Lockheed Martin Organizations: Business, International Defense, Bofors, International Defense Industry, International Defense Exhibition, Rafael Advanced Defense Systems, United Nations Arms, Black Eagles, Nikita, Kalashnikov, Lockheed Locations: East, Ukraine, France, Paris, United States, China, Abu Dhabi, Russia, India, Poland, UAE, Saudi Arabia, Peruvian, Lima , Peru, Korean, Seoul

☆ The revived craze for GameStop is confusing Wall Street. It's 'not in a position to be profitable'
▼ + stars: | 2024-05-13 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

The return of "Roaring Kitty" sparked a jaw-dropping advance in GameStop shares Monday, but such a speculative rally in an unprofitable company will likely end badly once again. Roaring Kitty, the man who inspired the meme stock mania of 2021, resurfaced online with a cryptic image showing a man in a chair leaning forward. GME 5D mountain GameStop Pachter has a underperform rating on GameStop and a $5.60 price target. At Monday's peak, GameStop hit $38.20. During 2021's mania, GameStop shares hit an all-time high of $120.75 intraday, adjusted for a subsequent 4-for-1 stock split in the summer of 2022.

Persons: Kitty, Michael Pachter, Pachter, Jeff deGraaf, he's, deGraaf, Jerome Powell, Bernstein, Mark Schilsky Organizations: GameStop, CNBC, Federal Reserve, Macro

☆ Watch Monday's full episode of Fast Money — May 13, 2024
▼ + stars: | 2024-05-13 | 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 Monday's full episode of Fast Money — May 13, 2024"Fast Money" is America's post-market show. Hosted by Melissa Lee and a roundtable of top traders, "Fast Money" breaks through the noise of the day, to bring you the actionable news that matters most to investors.

Persons: Melissa Lee

☆ European markets head for mixed open as traders look ahead to latest U.S. inflation data
▼ + stars: | 2024-05-13 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a mixed open at the start of the new trading week, and investors will be keeping a close eye on the latest U.S. inflation figures. April's consumer price index report is due out on Wednesday, with traders hoping that a return to rate hikes is largely off the table for the U.S. Federal Reserve despite a slew of hotter-than-expected inflation prints recently. Overnight, Asia-Pacific markets were mixed as investors assessed China's stronger-than-expected April inflation data; China's consumer price index climbed 0.3% year on year, beating Reuters estimates of a 0.2% rise. India's inflation figures will also be out late Monday, with economists polled by Reuters expecting inflation in the world's fifth-largest economy to slow slightly to 4.8% in April, down from March's 4.85%.

Organizations: U.S . Federal, Reuters Locations: Asia, Pacific, March's

☆ GameStop Shares Surge After ‘Roaring Kitty’ Re-emerges
▼ + stars: | 2024-05-13 | by ( J. Edward Moreno | More About J. Edward Moreno | ) www.nytimes.com time to read: +1 min

GameStop’s share price skyrocketed on Monday after the man who became the face of “meme stock” mania in 2021 with his enthusiastic promotion of the struggling video game retailer emerged from a three-year hiatus. On Sunday evening, Keith Gill, the trader known on some social media platforms as Roaring Kitty, posted an illustration of a person holding a video game controller while leaning forward on a chair on X. On no other news, GameStop’s stock more than doubled in early trading, prompting several temporary volatility-related halts by the New York Stock Exchange. The company’s shares approached a two-year high, adding billions in market value in a matter of hours. But even after Monday’s surge, GameStop’s stock remained well below the heights it reached in 2021.

Persons: Keith Gill, Kitty, Gill, Ferris, Ludacris Organizations: New York Stock Exchange, GameStop, AMC Entertainment

☆ These 'short squeeze' candidates are being heavily bet against
▼ + stars: | 2024-05-13 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

As a new meme frenzy unfolds in the market, traders are once again making bets in stocks with high levels of short interest. This activity could lead several companies to become the next targets of a short squeeze. A short squeeze happens when a stock price surges and forces those shorting the stock to purchase shares, or cover their shorts, to buy back stock and cut their losses. Another solar name, Maxeon Solar Technologies , has its short interest as a percent of float at about 45%. The Children's Place is another short squeeze target, as 70% of its floating shares are being sold short.

Persons: Maxeon, Goldman Sachs Organizations: GameStop, Dow, Nasdaq, Investors, CNBC Pro, New York Stock Exchange, Solar Energy, Technologies

☆ A cartoon on X just sent GameStop shares surging 72%
▼ + stars: | 2024-05-13 | by ( Krystal Hur | ) edition.cnn.com time to read: +3 min

New York CNN —The surprise social media return of the trader who helped ignite the meme stock frenzy in 2021 sent GameStop shares skyrocketing Monday. The shares skyrocketed by more than 110% earlier and were halted for volatility several times on Monday morning. GameStop had posted the same cartoon in February, but with a red arrow and chair. Gill described himself as a casual daytime trader in testimony during a 2021 Congressional hearing on the GameStop mania. “The idea that I used social media to promote GameStop stock to unwitting investors is preposterous,” Gill said in written testimony.

Persons: Roaring Kitty, Keith Gill, Gill, Kitty, “ Deepf, ” Gill, “, Paul Dano Organizations: New, New York CNN, GameStop, AMC Entertainment, stoke, “ Locations: New York, GameStop’s

☆ GameStop short sellers have already lost $1 billion from Monday's monster rally
▼ + stars: | 2024-05-13 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

The jaw-dropping rally in GameStop on Monday has already caused losses of $1 billion for short sellers, according to data from S3 Partners. "Expect short covering in this stock as it already had a 100/100 squeeze score prior to today's trading," said Ihor Dusaniwsky, S3 managing director of predictive analytics. Currently, the short position in GameStop shares amounts to more than 24% of all its shares that are freely available to trade, also known as the float, according to FactSet. Including Monday's losses, short sellers in GameStop have lost $1.43 billion in May alone, according to S3. "Short sellers may be in for a bumpy and bloody ride in these stocks," Dusaniwsky said.

Persons: Ihor, Roaring, Keith Gill, Dusaniwsky, Reddit, — CNBC's Scott Schnipper Organizations: GameStop, New York Stock Exchange, S3 Partners, Partners, AMC

GameStop shares rallied more than 40% in premarket trading Monday after "Roaring Kitty," the man who inspired the epic short squeeze of 2021, posted online for the first time in roughly three years. Roaring Kitty, whose legal name is Keith Gill, is a former marketer for Massachusetts Mutual Life Insurance. Currently, the short position in GameStop shares amounts to more than 24% of all its shares that are freely-available to trade, also known as the float. In response, one Robinhood user filed a class-action lawsuit following the app's decision to restrict GameStop trading on its platform. Another class-action lawsuit brought against Gill alleged that he pretended to be a novice trader despite being a licensed professional.

Persons: Roaring Kitty, Keith Gill, Gill, Capital, Ken Griffin's, Robinhood, Melvin Capital, Paul Dano Organizations: GameStop, Massachusetts Mutual Life Insurance, Ken Griffin's Citadel, Citadel Locations: Reddit

☆ GameStop stock surges over 70%—but investors should still be wary of 'meme stocks'
▼ + stars: | 2024-05-13 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Between 2020 and 2021, he became one of the key internet personas who encouraged an army of day traders to heavily invest in GameStop, kicking off the "meme stock" frenzy. And in 2024, it appears that meme stocks are rallying again. Short sellers are individual investors or hedge funds who believe a certain stock's price will decline. If the stock price doesn't fall the way the short sellers anticipated, they can lose money, as happened with GameStop. Investors should also be wary of chasing meme stocks with the expectation of earning a profit.

Persons: Keith Gill, he's, Gill isn't Organizations: GameStop

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