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Johnson & Johnson is signing off on a new logo. Johnson & Johnson itself narrowed its focus to pharmaceuticals and medical devices. The signature logo was “one of the longest-used company emblems in the world,” J&J declared in a 2017 website post. “Everyone washed their baby with Johnson & Johnson baby shampoo,” she said. New Brunswick, New Jersey-based J&J also will rename its Janssen pharmaceutical segment, changing it to Johnson & Johnson Innovative Medicine.

Persons: Johnson, James Wood, ”, Vanessa Broadhurst, ” J, J, Laura Ries, Ries, wasn't Organizations: Janssen, Johnson Innovative Medicine, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: New Brunswick , New Jersey

☆ Lightning Round: Plug Power has hurt us too many times, it's done, says Jim Cramer
▼ + stars: | 2023-09-14 | by ( Jim Cramer | ) 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 EmailLightning Round: Plug Power has hurt us too many times, it's done, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Kenvue, UiPath, Essential Utilities, Plug Power and Roku.

Persons: it's, Jim Cramer Organizations: Utilities

☆ After Birkenstock's 'Barbie' bump, iconic footwear brand seeks a big part in IPO market
▼ + stars: | 2023-09-13 | by ( Natalie Rose Goldberg | ) www.cnbc.com time to read: +10 min

Footwear companies have found recent success going public market, but not all by any means over the longer-term. In more recent history, the brand has collaborated with Rick Owens, Dior, and Manolo Blahnik, among many other big names in fashion. The current IPO market landscape The IPO market has been all but frozen since the pandemic stock offering boom crashed, and successful IPOs have included iconic brands, such as the Johnson & Johnson spinoff of its consumer health business which includes Tylenol and band-Aids in the Kenvue IPO. Still, while Kenvue was the biggest deal of the year, it's barely holding onto its IPO price today, according to CNBC and Renaissance Capital data, and the IPO market overall hasn't performed great after listing. The two potential paths of a footwear IPO can be tracked by the histories of Crocs and Allbirds.

Persons: Nordstrom, Jeff Greenberg, what's, Johann Adam Birkenstock, Birkenstock, Angelo Bochanis, Oliver Reichert, outsized, Reichert, Konrad Birkenstock, Johann, Karl, Konrad, Margo Fraser, Kim Knott, Kate Moss, Corinne Day, Rick Owens, Dior, Manolo Blahnik, Jeremy Moeller, Barbie, Margot Robbie, Johnson, Kenvue, it's, hasn't, Mark Cohen, Cohen, Jamie Dimon, Dimon, Bochanis, " Cohen Organizations: Universal, Getty, New York Stock Exchange, Nasdaq, Holding, Renaissance, Consumers, British Elle, Brand, CNBC, Columbia Business School, Facebook, Wall, JPMorgan, Company Locations: Merrick, , Miami, Germany, America, California, British, Arizona, It's, U.S

☆ US FDA panel says popular decongestant used in cold medicines ineffective
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, U.S., August 29, 2020. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSept 12 (Reuters) - An outside panel of experts to the U.S. Food and Drug Administration on Tuesday refused to back the effectiveness of oral over-the-counter (OTC) medicines made with phenylephrine, an ingredient widely used in cold and cough syrups. The panel unanimously voted against the effectiveness of orally administered phenylephrine as a nasal decongestant, adding that no more trials were required to prove otherwise. The FDA usually follows the recommendations of its expert panel but is not obligated to do so. Phenylephrine was substituted for pseudoephedrine in many non-prescription cold and allergy medicines after the latter was restricted amid reports of abuse.

Persons: Andrew Kelly, Jennifer Schwartzott, Phenylephrine, Mariam Sunny, Devika Organizations: Food and Drug Administration, FDA, REUTERS, U.S . Food, Drug Administration, GSK, Thomson Locations: White Oak , Maryland, U.S, United States, Bengaluru

☆ Decongestant found in many cold, allergy medicines doesn’t actually work, FDA advisors say
▼ + stars: | 2023-09-12 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

The main ingredient used in many popular over-the-counter cold and allergy medications doesn't actually work to get rid of nasal congestion, an advisory panel to the Food and Drug Administration declared Tuesday. The FDA typically follows the advice of its advisory committees but it is not required to do so. Pulling phenylephrine from the market could also affect retail pharmacy chains, which rake in revenue from selling over-the-counter cold and allergy pills. Retail stores in the U.S. sold 242 million bottles of drugs containing phenylephrine last year, up 30% from 2021, according to data compiled by FDA staff. Yet FDA staff, in briefing documents posted ahead of the meeting this week, concluded that oral formulations of phenylephrine don't work at standard or even higher doses.

Persons: Johnson, Scott Melville Organizations: Food and Drug Administration, FDA, Procter, Gamble, Consumer Healthcare Products Association, CVS, Walgreens, University of Florida Locations: U.S

☆ Acelyrin's skin disease drug trial failure wipes off IPO gains
▼ + stars: | 2023-09-12 | by ( Christy Santhosh | ) www.reuters.com time to read: +2 min

Sept 12 (Reuters) - Shares of drug developer Acelyrin (SLRN.O) on Tuesday erased all gains made since their stellar market debut in May, as the company's experimental lead drug failed to show superiority to placebo in reducing symptoms of an inflammatory skin disease. HS is a chronic inflammatory skin condition that causes painful lumps under the skin. Acelyrin said the trial was hit by early discontinuations as well as better placebo efficacy rates. However, Jefferies analyst Akash Tewari slashed the price target on Acelyrin's stock to $15 from $31, calling the latest data "painfully disappointing." "It's difficult to glean much from the data given how poorly the trial was run.

Persons: Acelyrin, Acelyrin's izokibep, Hidradenitis, Piper Sandler, Jefferies, Akash Tewari, We'll, Christy Santhosh, Saumyadeb Chakrabarty Organizations: Ventyx Biosciences, Apogee Therapeutics, Thomson Locations: Acelyrin, Bengaluru

☆ Here are Monday's biggest analyst calls: Tesla, Apple, Nvidia, Amazon, Microsoft, Block, Netflix & more
▼ + stars: | 2023-09-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan upgrades Tenable to overweight from neutral JPMorgan said the security software solutions company is "well positioned for better fundamentals." JPMorgan upgrades Nubank to overweight from neutral JPMorgan said it sees an attractive entry point for the Brazilian neobank company. JPMorgan downgrades Brunswick to neutral from overweight JPMorgan said higher interest rates will weight on the marine recreation company in the months ahead. Bank of America reiterates Nvidia as a top pick Bank of America said Nvidia shares remain "compelling" at current levels. " Bank of America initiates Raymond James as buy Bank of America said the financial services company is well positioned and has a defensive portfolio. "

Persons: Morgan Stanley, Tesla, Raymond James, RJF, Evercore, Redburn, Bob Iger, Johnson, Jefferies, Bernstein, Brown, Forman, Baird, it's Organizations: supercomputing, Investors, JPMorgan, TENB, Brazilian, Bank of America, CSX, of America, 3Q, JPMorgan downgrades, Nvidia, AMD, Barclays, UBS, Amazon, Netflix, Disney, Deutsche Bank, Deutsche, Citi, Microsoft Citi, Microsoft, Apple Locations: JPMorgan downgrades Brunswick, North America

☆ Deutsche Bank believes this J&J spinoff can rebound by more than 25% in the short term
▼ + stars: | 2023-09-11 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Deutsche Bank says the overselling in Kenvue stock could present an attractive entry point for investors. The firm upgraded shares of the Johnson & Johnson spinoff to buy in a Sunday note, albeit with an unchanged $27 per share price target. Deutsche Bank's forecast implies nearly 27% upside from Friday's $21.30 close. Kenvue stock has slipped more than 15% since going public in May. KVUE YTD mountain Kenvue stock has slipped more than 15% since May.

Persons: Johnson, J, Steve Powers, Powers, — CNBC's Michael Bloom Organizations: Deutsche Bank, Deutsche, KVUE

☆ Stocks making the biggest moves premarket: Qualcomm, Tesla, Hostess and more
▼ + stars: | 2023-09-11 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Alibaba — Shares lost 1% after outgoing CEO Daniel Zhang unexpectedly quit its cloud business. In June, the company had said Zhang was leaving as chairman and CEO of Alibaba Group to focus on the cloud intelligence unit. Qualcomm — The semiconductor stock jumped 7.4% premarket after saying Monday it will supply Apple with 5G modems for smartphones through 2026. The Wall Street firm said the slide in the Band-Aid maker has created an attractive entry point. The Wall Street firm called software and services revenue the "biggest value driver" for Tesla.

Persons: Alibaba —, Daniel Zhang, Zhang, Tesla, Morgan Stanley, —, Smucker, Alex Harring, Hakyung Kim, Michelle Fox Theobald, Samantha Subin, Sarah Min, Kif Leswing Organizations: Tenable Holdings, JPMorgan, Alibaba Group, Qualcomm, Apple, Deutsche Bank, Oracle, Hostess Brands, Meta, Wall Street

☆ Stocks making the biggest moves midday: Tesla, Qualcomm, Meta, Moderna and more
▼ + stars: | 2023-09-11 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Tesla — Shares of the electric vehicle maker jumped 6% after Morgan Stanley upgraded the stock to overweight from equal weight. Kenvue — Shares of the Band-Aid maker gained 3% after being upgraded by Deutsche Bank to buy from hold on Sunday. The Wall Street firm called Kenvue a high-quality company and believes the stock's slide has created an attractive entry point. Nubank – The U.S.-traded shares of the Brazilian financial firm rose nearly 6% after JPMorgan upgraded Nubank to overweight from neutral. Discovery and Paramount also traded higher on the news, rising 2.2% and 1.9%, respectively,AstraZeneca — The pharmaceutical company's shares lost nearly 3% midday Monday.

Persons: Morgan Stanley, Adam Jones, — Smucker, Alibaba, Daniel Zhang, Zhang, Nubank, Warner, Pascal Soriot, Immatics, — CNBC's Alexander Harring, Samantha Subin, Yun Li, Jesse Pound, Michelle Fox, Tanaya Macheel Organizations: Artificial Intelligence, Hostess Brands, Tenable Holdings, JPMorgan, Deutsche Bank, Alibaba Group, Wall Street, Meta, Qualcomm, Apple, Media, Disney, Charter Communications, Warner Bros . Discovery, Paramount, AstraZeneca, Reuters, Mail, Moderna —, Moderna Locations: Shanghai, U.S, Brazil

☆ How breakups impact shareholders, market vs. limit orders — we've got answers
▼ + stars: | 2023-09-10 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

Hang tight: You will receive BLCO shares — eventually. A carve-out occurs when a company sells shares in the separated unit into the open market via an initial public offering (IPO). A spin-off is when management distributes shares of the new company to exiting shareholders via a special dividend. A split-off gives existing shareholders the option to receive shares in the new entity in exchange for shares in the parent company. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, — Ted Great, Ted, Hang, Bausch, BHC, it's, Johnson, JNJ, Jim, Brendan Mcdermid Organizations: —, Bausch Health, General Electric, GE, GE HealthCare, GE Verona, CNBC, Kenvue Inc, Johnson, New York Stock Exchange Locations: BLCO, JNJ, New York City, U.S

☆ Here are Thursday's biggest analyst calls: Nvidia, Meta, Apple, Netflix, Roku, McDonald's, Micron & more
▼ + stars: | 2023-09-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Thursday's biggest calls on Wall Street: Barclays initiates Jabil and Flex as overweight Barclays initiated several technology manufacturers Thursday and said it sees margin expansion. Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating on the stock heading into Apple's iPhone event next week. Barclays initiates LPL Financial as overweight Barclays said the financial services company is a "solid organic grower at reasonable valuation." Barclays downgrades Seagate to equal weight from overweight Barclays downgraded Seagate mainly on valuation. Morgan Stanley reiterates Meta as overweight Morgan Stanley said it's staying bullish on shares of Meta.

Persons: Wells, Goldman Sachs, Morgan Stanley, McDonald's, Apple, it's, Jefferies, Canaccord, Johnson, Bernstein, Tesla, underperform Bernstein, Raymond James, Dell, Dan Jedda, Stifel, Riley downgrades Crocs, Riley, Truist, Raymond James downgrades Dave, Buster's, Guggenheim, Meta Organizations: Street, Barclays, JBL, EV, HSBC, Citi, Micron Citi, Micron, Oracle, Johnson, JPMorgan, Netflix, Tesla, DELL, Bank of America, Cloud Computing, LPL, Vail Resorts, Seagate, CyberArk Software Ltd, Meta, Nvidia Locations: 3Q23, Vail

☆ Nvidia, JNJ, and more: CNBC's 'Halftime Report' traders answer your questions
▼ + stars: | 2023-09-07 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

On Thursday's "Ask Halftime," traders answered questions from CNBC Pro subscribers about which stocks and commodities to buy, hold or sell right now. Jim Lebenthal of Cerity Partners explained why the dip in Nvidia 's share price is a great buying opportunity right now. Hightower Advisors' Stephanie Link sees more upside for Johnson & Johnson 's stock but said its consumer health company spinoff, Kenvue , is still too expensive. Finally, Bill Baruch of Blue Line Futures owns Cameco Corp. and explained why the uranium miner is a solid stock to have in your portfolio.

Persons: Jim Lebenthal, Hightower, Stephanie Link, Johnson, Bill Baruch Organizations: CNBC Pro, Cerity Partners, Nvidia, Hightower Advisors, Johnson, Blue Line, Cameco Corp

☆ Here are the 13 stocks Jim Cramer is watching, including Eli Lilly, McDonald's
▼ + stars: | 2023-09-07 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Here are some of the tickers on my radar for Thursday, Sept. 7, taken directly from my reporter's notebook:Weekly jobless claims 216,000 versus 230,000 expected. Will a resilient labor market push Fed to slip in another interest rate hike this year? Remember, August nonfarm payrolls were stronger than expected and stepping up for a second month in a row after June's smallest monthly gain since December 2020. JPMorgan forecasts $100 billion category for so-called GLP-1 treatments such as Eli Lilly'sCanaccord starts Johnson & Johnson KenvueIs DraftKingsGeneral MillsIf you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free.

Persons: nonfarm payrolls, Eli Lilly's Canaccord, Johnson, Mills, Jim Cramer's Organizations: Fed, JPMorgan

☆ The Investing Club's top 10 things to watch in the stock market Wednesday
▼ + stars: | 2023-08-30 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Citigroup maintains a buy rating on Club name Apple (AAPL) ahead of its Sept. 12 product event, while reiterating a $240-per-share price target on the stock. As ever, Apple is an "own it, don't trade it" stock ahead of the product launch. Morgan Stanley downgrades Centene (CNC) to equal weight, from overweight, while lowering its price target on the stock to $73 a share, down from $94. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, —, Johnson, Morgan Stanley downgrades Centene, Morgan Stanley, Bernstein, James Hollingshead, Wolfe, BUD, Bud Light, KeyBanc, Jim Cramer's, Jim Cramer, Jim Organizations: ADP, Federal Reserve, Labor, Citigroup, Apple, Citi, FedEx, Health, Humana, Bernstein downgrades Texas, Wolfe Research, NFL, Anheuser, Busch InBev, Molson Coors Beverage, Constellation Brands, Google, Club, Nvidia, HP Inc, Jim Cramer's Charitable, CNBC Locations: U.S

☆ J&J forecasts 12.5% growth in 2023 profit after Kenvue spinoff
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +1 min

Johnson & Johnson company offices are shown in Irvine, California, U.S., October 14, 2020. REUTERS/Mike Blake Acquire Licensing RightsAug 30 (Reuters) - Johnson & Johnson (JNJ.N) on Wednesday forecast 12.5% growth in its annual adjusted profit after completing the separation of consumer health company Kenvue (KVUE.N) . J&J also said it would present its consumer health business as discontinued operations and record a gain of $20 billion in the third quarter as a result of the spinoff. It expects 2023 adjusted reported earnings per share of $10.00 - $10.10, 12.5% higher at the midpoint compared with 2022. Kenvue, which debuted on the New York Stock Exchange in May, has a market capitalization of about $78.9 billion.

Persons: Johnson, Mike Blake, J, Kenvue, Manas Mishra, Devika Organizations: Johnson, REUTERS, New York Stock Exchange, Thomson Locations: Irvine , California, U.S, Bengaluru

☆ Jim Cramer's guide to investing: How to get kids involved with investing
▼ + stars: | 2023-08-30 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer suggested investors introduce their children to stocks by making it fun and simple. He suggested parents then buy their kids shares in companies they might recognize from their own lives: playing with toys (Mattel ), eating cereal (General Mills ) or personal hygiene (Johnson & Johnson ). "I don't know about Johnson & Johnson's Bandaids and shampoo, they were staples, and they've since been moved to Kenvue," Cramer said. "The stock won't always work out, but think of what you liked when you were little or what your parents liked when they were little. More importantly, you've got a great hook to get your children into a lifetime of investing."

Persons: CNBC's Jim Cramer, Cramer, Mills, Johnson, Johnson's, Clark, they're, you've Organizations: Mattel Locations: Kenvue, Kimberly

☆ Exclusive-Bayer investor Artisan calls for breakup of company
▼ + stars: | 2023-08-25 | by ( Richa Naidu | Ludwig Burger | ) www.reuters.com time to read: +4 min

Artisan wants the drugs-to-pesticides company to find new owners for its over-the-counter and pharmaceutical units, it said. Before taking over as CEO, Anderson said he was keeping an open mind on whether to break up the company. Artisan is Bayer’s 16th biggest investor, according to Refinitiv data. Samra said the chairman of Bayer’s supervisory board, Norbert Winkeljohann, has not directly written a letter back to Artisan, but said Artisan had “been in contact” with the company. Samra said Artisan “has not suggested specifically how (Bayer) should restructure their business” in the letter.

Persons: “, Wolfgang Rattay, Bill Anderson, Roche, Anderson, ” David Samra, Bayer, ” Samra, they’re, ” Bayer, Werner Baumann, Samra, Norbert Winkeljohann, China’s Syngenta, Johnson Organizations: Bayer, Artisan Partners, Reuters, Bayer AG, REUTERS, Bluebell Capital Partners, Artisan, Artisan’s, Science, pharma, Johnson, GSK Locations: Leverkusen, Germany, Swiss

☆ Here are 16 stocks Jim Cramer is watching, including J&J split-off Kenvue, Petco, GM
▼ + stars: | 2023-08-24 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Here are some of the tickers on my radar for Thursday, Aug. 24, taken directly from my reporter's notebook:If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free.

Persons: Jim Cramer's

☆ Here are Thursday's biggest analyst calls: Nvidia, Apple, Amazon, Splunk, Peloton, Rivian, AMC & more
▼ + stars: | 2023-08-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Goldman Sachs reiterates Nvidia as buy Goldman said it's standing by it's buy rating after Nvidia's strong earnings report on Wednesday. Stifel upgrades Nvidia to buy from hold Stifel upgraded the stock after its strong earnings report Wednesday. Bank of America upgrades Williams-Sonoma to neutral from underperform Bank of America said that the downside scenario is now "off the table" for Williams-Sonoma. Bank of America downgrades Vizio to underperform from buy Bank of America double downgraded the stock on concerns about a weakening consumer. Bank of America downgrades Peloton to neutral from buy Bank of America said it sees "limited visibility on growth initiatives" for Peloton .

Persons: Needham, Rivian, it's, Oppenheimer, Goldman Sachs, Goldman, Morgan Stanley, Wedbush, Johnson, Splunk, Raymond James, Piper Sandler, Piper, Wolfe, Charles Schwab, Bernstein, Estee Lauder, Snowflake, Rosenblatt, Read Organizations: Nvidia, Center, Stifel, AMC, Bank of America, underperform Bank of America, Williams, Sonoma, Vizio, Johnson, Prudential, DFS, ADI Locations: CY2024, Williams, Sonoma, Snowflake

☆ This Johnson & Johnson spin-off could rally more than 20%, Goldman Sachs predicts
▼ + stars: | 2023-08-24 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Investors may want to scoop up newly public company Kenvue on the cheap, Goldman Sachs said. Analyst Jason English upgraded the stock to buy from neutral. "We see compelling relative valuation with an approaching catalyst for a re-rating," English said in a note to clients Wednesday. KVUE .SPX ALL mountain Kenvue vs. the S & P 500 Kenvue, the Johnson & Johnson spin-off sporting brands such as Neutrogena and Tylenol that went public earlier this year, has fallen about 14% from its mid-May peak. In that period, the stock has trailed the S & P 500 by more than 20 percentage points.

Persons: Goldman Sachs, Jason English, Johnson, FactSet, — CNBC's Michael Bloom Organizations: Currency Locations: Wednesday's, KVUE

☆ Arm going public generates buzz but may not be a sign the IPO market is thawing
▼ + stars: | 2023-08-23 | by ( Bob Pisani | ) www.cnbc.com time to read: +7 min

It's an old saw: The most important factors for a strong IPO market are an up market and stable interest rates. The problem is that there is not much similarity between Arm and tech unicorns. It's a tough choice: Negotiate onerous new rounds of funding with venture capital firms, or go public at a lower valuation. But if you can't, you either take another lower funding round or go public at a lower valuation." Many companies still looking to go public "This won't open the floodgates for tech unicorns," Kennedy said.

Persons: Rivian, Matt Kennedy, Santosh Rao, Rao, Johnson, Kennedy, Don, Softbank, Birkenstock Organizations: Labor, Renaissance Capital, Manhattan Venture Research, London Stock Exchange, Nasdaq, Softbank, Vision Group, PayPal, Shein Locations: China, IPOs

☆ Nasdaq rallies with Nvidia, tech shares; investors look toward Jackson Hole
▼ + stars: | 2023-08-21 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

The technology sector (.SPLRCT) gave the biggest boost to the S&P 500 and Nasdaq, while an index of semiconductors (.SOX) advanced 2.8%. At the same time, she said, investors are anxious to hear Powell's comments at Jackson Hole. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Declining issues outnumbered advancing ones on the NYSE by a 1.44-to-1 ratio; on Nasdaq, a 1.08-to-1 ratio favored decliners. The S&P 500 posted 3 new 52-week highs and 18 new lows; the Nasdaq Composite recorded 36 new highs and 214 new lows.

Persons: Jerome Powell, Quincy Krosby, Jackson, Brendan McDermid, Johnson, Goldman Sachs, Caroline Valetkevitch, Amruta Khandekar, Arun Koyyur, Vinay Dwivedi, David Gregorio Our Organizations: Palo Alto Networks, Dow, Nasdaq, Nvidia, Federal, HSBC, Financial, Treasury, Traders, New York Stock Exchange, REUTERS, Dow Jones, Johnson, VMware, NYSE, Thomson Locations: Wyoming, Charlotte , North Carolina, New York City, U.S, Palo, billings

☆ Nasdaq rallies as Nvidia, tech jump; investors look toward Jackson Hole
▼ + stars: | 2023-08-21 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. The technology sector (.SPLRCT) gave the biggest boost to the S&P 500 and Nasdaq, while an index of semiconductors (.SOX) was also up sharply. Nvidia's stock is up more than 200% for the year so far, while the Nasdaq is up nearly 30%. At the same time, she said, investors are anxious to hear Powell's comments at Jackson Hole. According to preliminary data, the S&P 500 (.SPX) gained 30.42 points, or 0.70%, to end at 4,400.13 points, while the Nasdaq Composite (.IXIC) gained 206.65 points, or 1.55%, to 13,497.42.

Persons: Brendan McDermid, Jerome Powell, Quincy Krosby, Jackson, Johnson, Goldman Sachs, Caroline Valetkevitch, Amruta Khandekar, Arun Koyyur, Vinay Dwivedi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Palo Alto Networks, Nasdaq, Nvidia, Dow, Federal, HSBC, Financial, Treasury, Dow Jones, Johnson, VMware, Thomson Locations: New York City, U.S, Wyoming, Charlotte , North Carolina, Palo, billings

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. The S&P 500 information technology sector (.SPLRCT), which houses Nvidia, rose 0.7% while real estate (.SPLRCR) and utilities (.SPLRCU) were a drag, down more than 1% each. Declining issues outnumbered advancers by a 2.38-to-1 ratio on the NYSE and a 1.46-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and 18 new lows, while the Nasdaq recorded 27 new highs and 141 new lows. Reporting by Amruta Khandekar and Shristi Achar; Editing by Arun Koyyur and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Thomas Hayes, Jerome Powell, stokes, Dow, Johnson, Goldman Sachs, Amruta Khandekar, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Palo Alto Networks, Broadcom Indexes, Dow, Nasdaq, Nvidia, HSBC, Fed, Great, Capital LLC, Equity Research, Dow Jones, Federal, Federal Reserve, Traders, Reuters Graphics Reuters, VMware, NYSE, Thomson Locations: New York City, U.S, Jackson, Wyoming

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