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☆ Apple is spending more on AI, but remains far behind its Silicon Valley peers
▼ + stars: | 2024-08-01 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Apple Intelligence, the company's forthcoming artificial intelligence system, could spur a fresh cycle of iPhone upgrades and hardware sales. One question Cook was willing to partially address was about the company's spending on AI servers. "Embedded in our results this quarter is an increase year over year in the amount we're spending for AI and Apple Intelligence," Cook told CNBC's Steve Kovach on Thursday. The rise in Apple's capital expenditure is tiny compared to its mega-cap peers, such as Microsoft, Google , and Meta . Zuckerberg also wants to ensure that Apple won't fully control the next major technology shift, if it turns out to be AI.

Persons: Tim Cook, Luca Maestri, Cook, CNBC's Steve Kovach, Mark Zuckerberg, Zuckerberg Organizations: Apple Intelligence, OpenAI, CNBC, Apple, Microsoft, Google, Meta, Nvidia

☆ Ron Insana: The economic slowdown is here, and the Fed will be key to avoiding a recession
▼ + stars: | 2024-07-31 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

It is a question based on recent market behavior, corporate profit reports and prospective economic policy changes at home and abroad. It suggests that declining inflation and economic weakness may well be in our future. Recent U.S. economic data has been unexpectedly steady, with recent growth pegged at an annual rate of 2.8% in the second quarter. Unemployment data flashes a warning sign The unemployment rate remains low at 4.1% as of June, but it has risen from 3.7% back in January . Some economists argue that an increase of half a percentage point in the unemployment rate, off the lows, is a precursor to a recession.

Persons: you've, Ron Insana Organizations: Treasury, Federal Reserve Bank of New, Procter, Gamble, Federal Reserve, Clearwater, CNBC Locations: Clearwater, Japan, Switzerland, Venezuela, U.S

☆ OpenAI's releasing a new AI model soon, and there's a lot at stake
▼ + stars: | 2024-07-31 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, what to expect from OpenAI's newest AI model that's in the works. GPT-5, the newest model upgrade for OpenAI's chatbot, is coming soon . AdvertisementOpenAI has a lot riding on its newest model, including its ability to get customers to cough up more cash. That's not ideal for a company that's preparing to take on one of the biggest juggernauts in tech: Google's Search.

Persons: —, Z's, Let's, Nordin Catic, OpenAI, Darius Rafieyan, Darius, ChatGPT, Justin Sullivan, Chelsea Jia Feng, it's, Sam Altman, Ned Davis, David Solomon, Goldman Sachs, David Zalubowski, Chiang Ying, Mark Zuckerberg, Jensen Huang, Alexa von Tobel, Tyler Le, Mark Zuckerberg's, It's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, Getty, OpenAI, Ned Davis Research, Blackstone, Harvard, Microsoft, Starbucks, Apple, Apple Intelligence, Fed, Meta, Boeing, Kraft Locations: undergrad, New York, China, London

☆ AMD says data center sales more than doubled in a year
▼ + stars: | 2024-07-30 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

AMD shares are down about 6% in 2024, even though the company is the second-largest vendor of data center GPUs after Nvidia . Investors want to see AMD take market share away from its longtime rival Nvidia with its MI300X AI chip and signal growth in its data center AI business. Earlier this year, AMD said it expected $4 billion in AI chips sales this year, or about 15% of the company's expected sales. AMD AI chip sales are reported in the company's Data Center segment, which grew 115% year-over-year to $2.8 billion, driven by an increase in AI GPU shipments, AMD said. Sales for PCs are reported in the company's Client segment, which rose 49% year-over-year to $1.5 billion, versus expectations of $1.43 billion from Street Account.

Persons: Lisa Su, Ryan Patel, Travis P, Su Organizations: SXSW, Austin Convention Center, Getty, Devices, AMD, Nvidia, company's, Data Locations: Austin , Texas

☆ Meet the typical social-media influencer: They make less than $100,000 a year and juggle other jobs
▼ + stars: | 2024-07-29 | by ( Shriya Bhattacharya | Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

A survey of over 2,000 content creators conducted by the influencer marketing agency NeoReach last year found that 48% of creators earned less than $15,000 a year. Since the money that influencers make sometimes isn't enough to sustain their lifestyles, they balance content creation with other jobs. AdvertisementThe typical US-based influencer is likely to be making less than six figures and creating content part-time, according to research, surveys, and influencer interviews. Most of these creators have smaller audiences, according to former influencer marketer Emmy Petit, who is now a full-time influencer. "The idea of full-time content creation is often more glamorous than reality," Mitchie Nguyen, a content creator based in New York, previously told BI .

Persons: —, NeoReach, Colin Rocker, IZEA, influencers, Jessica Ufuoma, Johnson, Jasmine Enberg, Emarketer, Anushka, Petit, Nadya Okamoto, MrBeast, Mitchie Nguyen, Enberg, TikTok Organizations: Service, YouTube, Business, Deloitte, Johnson, Influencer League Locations: Hong Kong, New York

☆ Warren Buffett starts downsizing his Bank of America bet — Here's what could lie behind the move
▼ + stars: | 2024-07-28 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

Warren Buffett surprised many investors by downsizing one of his longest held and largest positions — Bank of America . Berkshire Hathaway recently unloaded 52.8 million Bank of America shares worth $2.3 billion during a six-day selling spree, the first time since late 2019 that the Omaha-based conglomerate reduced its holding. The legendary investor said then that he liked the business, valuation and management of the Charlotte-based bank "very much." BAC YTD mountain Bank of America Tax liability Taxes could also be a motivating factor in the BofA sale. Buffett, who paid over $5 billion in corporate taxes in 2023, believes the corporate tax rate could move higher to help fill the government's yawning gap between spending and revenue.

Persons: Warren Buffett, Buffett, Brian Moynihan, James Shanahan, Edward Jones, BofA, … BofA, they'd, Moynihan Organizations: — Bank of America, Oracle, Omaha . Berkshire Hathaway, of America, Berkshire, Apple, Bank of America Locations: Omaha ., Omaha, Berkshire, BofA, Charlotte

☆ What is 'underconsumption core'? A new trend on TikTok aims to get GenZ to buy less.
▼ + stars: | 2024-07-28 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +4 min

For many Gen Zers, the generation between the ages of 12 and 27, TikTok is the primary social media platform where they find products to buy. Gen Z doesn't really trust influencers anymoreInfluencers don't hold the same power they once did among younger audiences, some research suggests. Because of limited regulation of the social media advertising space, fraud runs rampant on social media . Some evidence suggests Gen Z is benefiting financially from living at home but may not feel these benefits because of money dysmorphia. This dysmorphia can sometimes be fueled by social media, where wealthy lifestyles are on display.

Persons: —, Zers, TikTok, it's, Stanley, Jade Taylor, Gen Z, Influencers, aren't, Gen, Z, Brett House Organizations: Service, Business, New York Times, Times, Yahoo News, Columbia

☆ Trump's Bitcoin speech aims to lock down crypto support as Harris gains momentum
▼ + stars: | 2024-07-27 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

It is also quite the about-face by the Republican presidential nominee. The Republican presidential nominee will also host an accompanying fundraiser in Nashville, with tickets topping out at $844,600 . Bitcoin 2024 conference organizers say they were briefly in talks to have Vice President Kamala Harris appear at the conference, though she ultimately declined. "I think we're going to hear from Vice President Harris soon on this. Harris' team has already begun to reach out to people close to crypto companies to set up meetings, the Financial Times reported on Saturday.

Persons: Donald Trump, Joe Biden's, David Bailey, Trump, NASHVILLE —, bitcoin, Fox, I've, Harris, Wiley Nickel, Nickel, Kamala Harris, Mark Cuban, we've Organizations: Van, Trump, Republican, BTC Inc, NASHVILLE, Republican Party, Biden, Democratic Party, Democratic, North Carolina, CNBC, Financial Times Locations: Grand Rapids , Michigan, America, Nashville, Washington, North

☆ Salary transparency gains steam in Asia as young people share their salaries online
▼ + stars: | 2024-07-25 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +6 min

The top driver for pay transparency practices in Asia is "regulation and compliance" (72%) according to a 2024 report by Aon. Currently, the top driver of pay transparency practices in Asia is "regulation and compliance" (72%) according to the report. Jashani is just one of the many young people in Asia who are working on increasing pay transparency in the region. I think our role to advocate for pay transparency is actually [done] through conversation. "I think our role to advocate for pay transparency is actually [done] through conversation," she said.

Persons: Peter Zhang, Zhang, Jashani, I'm, Davekhaw, they'll, Prestine, Aon's Zhang, Peter Zhang Head Organizations: Aon, CNBC, Employers Locations: Asia, United States, California, New York, millennials, Singapore, Instagram, Malaysia, Malay

☆ Here's a sell-off strategy to take advantage of the painful market rotation out of tech stocks
▼ + stars: | 2024-07-25 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Those are our only "own, don't trade" stocks, and they may hold the key to the rest of tech. 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, it's, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Apple, Nvidia, Club, Broadcom, AMD, Juniper Networks, Digital Realty Trust, Boston Beer, Bristol, Myers, Charter Communications, Colgate, Fed, Jim Cramer's Charitable Locations: Dexcom, Sketchers, Texas

☆ Buy and hold these 5 attractively valued growth stocks for the next decade, the pros say
▼ + stars: | 2024-07-24 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Growth stocks have been rallying for most of this year, though they've been volatile recently. Investors rotated out of mega-cap tech stocks for smaller names last week, as expectations of rate cuts in September grow. But overall, growth stocks have still gained this year, with the large-cap Vanguard Russell 1000 Growth ETF still up nearly 20% this year. What are some of such stocks that are still attractively valued that investors can buy and hold for the next 10 years? CNBC Pro asked fund managers and other investors who focus on growth stocks for some ideas.

Persons: Russell, Deere, Big Tech Nick Griffin, it's Organizations: CNBC Pro, Carnegie Investment, Deere, Mastercard, Visa, Big Tech, Munro Partners, Microsoft

☆ Jim Cramer examines Wednesday's brutal tech sell-off
▼ + stars: | 2024-07-24 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer looked at what might have spurred Wednesday's Big Tech sell-offs, reviewing why investors may have been disappointed with earnings from Alphabet and Tesla . Cramer was impressed with the strength in the company's search business, as well as its Google Cloud revenue, which topped estimates at $10.35 billion. But Cramer said CEO Elon Musk "told a great story of self-driving technology, sorely needed energy production, not to mention humanoid robots." Cramer suggested both Alphabet and Tesla might not have declined if the market wasn't in the midst of a broader rotation out of tech. Cramer also examined stocks that have been seeing gains on the S&P 600 — the S&P's small cap index — as investors sell the mega caps.

Persons: CNBC's Jim Cramer, it's, Tesla, Cramer, Elon Musk Organizations: Big Tech, Nasdaq, Google, ATI, Ensign Group, SPS Commerce, Mueller

Meta on Tuesday announced the latest version of its Llama artificial intelligence model. Nvidia is a key Meta partner and provides the social networking giant with the computing chips called GPUs to help train its AI models, including the latest version of Llama. For example, Meta said that Llama model announced on Tuesday was trained on 16,000 of Nvidia's H100 graphics processors. But open-source models can cost hundreds of millions or billions of dollars to create. There aren't many companies that are financially able to develop and release open-source models with similar amounts of investment.

Persons: Mark Zuckerberg, Meta, Zuckerberg, Jensen Huang, Ash Jhaveri, We're, Jhaveri, WhatsApp Organizations: Meta, Google, Nvidia, Amazon Web Services, Microsoft, CNBC Locations: Tokyo, Dell, U.S

☆ Activist pressure at Starbucks is the jolt the coffee giant needs to shake its slump
▼ + stars: | 2024-07-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Elliott Management's stake in Starbucks is exactly the jolt the struggling coffee stock needs to return to its winning ways. The well-known activist hedge fund has taken a significant position in Starbucks and is in discussions with the company on ways to improve its depressed stock price, The Wall Street Journal reported Friday afternoon. "I think Starbucks is a very big buy here because of Elliott," Jim Cramer said Monday on CNBC. SBUX YTD mountain SBUX stock performance year-to-date. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Elliott Management's, Jim, Elliott, Jim Cramer, …, Paul Singer, Laxman Narasimhan, Marc Benioff, Newlands, Laxman, BTIG, TD Cowen, Jim Cramer's, Beata Zawrzel Organizations: Starbucks, Street, CNBC, Constellation Brands, Modelo, Nurphoto, Getty Locations: North America, Sluggishness, China, Seattle, U.S, Krakow, Poland

☆ Solar stocks tumble as clean energy investors fear a Trump win — these companies are most exposed
▼ + stars: | 2024-07-19 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

This week, the benchmark Invesco Solar ETF (TAN) and the iShares Global Clean Energy ETF (ICLN) are down 6.2% and 4.6%, respectively. Residential solar stocks, including Enphase , Sunnova , Sunrun , SolarEdge and SunPower , would face a "severe impact" if Republicans successfully weaken or entirely repeal the IRA, according to Piper. The stock in the clean energy space with the least exposure to election risks is GE Vernova , according to a July slide deck from JPMorgan on clean energy. As a domestic manufacturer, First Solar potentially stands to benefit if the U.S. trade war with China intensifies under a Trump administration, according to Kallo. Though total IRA repeal may be unlikely, solar and clean energy stocks will "continue to be volatile until (and even after) the election due to headline risk," Kallo said.

Persons: Donald Trump, Joe Biden's, Biden, Piper Sandler, Wolfe, Piper, Enphase, SolarEdge, SunPower, Trump, Baird, Ben Kallo, Kallo Organizations: Republican Party, Democratic Party, Trump, Senate, Clean Energy, U.S, White House, Congress, Wolfe Research, Tax, Technologies, Republicans, GE Vernova, JPMorgan, GE, GOP, UBS, CNBC, Republican Locations: U.S, Ohio , Alabama, Louisiana, China

☆ Ron Insana sees political risk rising for investors as the presidential election heats up
▼ + stars: | 2024-07-18 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

The selloff in the Nasdaq on Wednesday, more specifically in semiconductor stocks, has added a relatively new wrinkle to what has been an unexpectedly exceptional year for stocks: political risk. And by that I do not mean the outcome of the 2024 presidential election , per se, but the risk of trial balloons being floated for the next several months leading up to the election. Two news items on Wednesday rocked the chip stocks as the Biden administration is reportedly considering much tighter constraints on chip sales to China . Competing proposals We've already heard of some of the potential policy prescriptions that either a Biden or Trump administration might pursue beginning in 2025. Some may never see the light of day depending, not only on the outcome of the presidential election, but also on the composition of the next Congress.

Persons: Biden, Donald Trump, Trump Organizations: Nasdaq, U.S, Biden, Federal Locations: China, Taiwan, Trump, U.S

☆ Chip stocks suffer a mini-meltdown as more potential trade restrictions threaten the industry
▼ + stars: | 2024-07-18 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at why reports of more potential trade restrictions have chip companies on their heels . Trade restrictions are certainly real concerns for chip companies. AdvertisementThe supply-chain base for most of the chip industry is in Taiwan, specifically TSMC. Politicians and regulators have no interest in making American AI companies less competitive and demand is still extremely high. With so much geopolitical tension, is it possible the chip industry becomes more regionalized?

Persons: —, Dan Schneider's, Rebecca Zisser, Joe Biden, Insider's Kelly Cloonan, Biden, chipmakers, Trump, Emma Cosgrove, It's, Marianne Ayala, aren't, Dan Ives, influencers, Donald Trump, JD Vance, Tyler Le, Elon Musk, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Dan Schneider's Nickelodeon, Business, Nvidia, AMD, Bloomberg, China, YouTube, JPMorgan, Apple, Republican National Convention, Netflix Locations: China, Netherlands, Taiwan, Texas, California, New York, London

☆ This equal weight ETF is on a five-day winning streak and outperforming its peers in 2024
▼ + stars: | 2024-07-17 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The Astoria US Equal Weight Quality Kings ETF (ROE) , which launched in 2023, is up 17.6% year to date through Tuesday's close, according to FactSet. By comparison, the Invesco S & P 500 Equal Weight ETF (RSP) and iShares MSCI USA Equal Weighted ETF (EUSA) are up 9.7% and 10.1%, respectively. ROE YTD mountain This equal weighted ETF is outperforming some of its rivals in 2024. The Astoria fund is underperforming some other funds that focus on quality, like the iShares MSCI USA Quality Factor ETF (QUAL) . The Astoria fund also has a higher expense ratio than some of its rivals at 0.49%.

Persons: John Davi, ROE, Davi, Frank Tedesco, Todd Sohn Organizations: Astoria, RSP, EUSA, Nvidia, Big Tech Locations: ROE

☆ Forget the Magnificent 7: UBS just refreshed its 'Super 8' list of global stock picks
▼ + stars: | 2024-07-16 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

But for those looking for alternatives, UBS has refreshed its list of "highest conviction and most investable" tech stocks in Asia. So far, UBS' Asian Super 8 has gained 8.3% since its inception in February, beating the 6.7% returned by the benchmark MSCI Asia-Pacific index. "We believe the valuation discount across the value chain in Asia's technology sector offers a defensive catch-up play for investors," UBS' analysts wrote. Tencent has been making headlines recently, with several analysts bullish, including Goldman Sachs , which included the stock in its conviction list. The company, which also goes by the name Foxconn, is expecting over 40% year-on-year growth in its AI server sub-segment this year, UBS' analysts noted.

Persons: Tencent, Goldman Sachs, Hon Hai Taiwan's, Hai, — CNBC's Michael Bloom Organizations: Apple, Microsoft, Nvidia, Tesla, UBS, Hong Kong Stock Exchange, U.S, Hai Precision Industry, Taiwan Stock Exchange, Lenovo Lenovo, Lenovo, Hong Kong Exchange Locations: Asia, China, U.S

☆ Bank of America calls this chip stock its top AI pick with 'no signs of demand slowing down'
▼ + stars: | 2024-07-16 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Bank of America thinks Broadcom can continue to cash in on the artificial intelligence boom, with the company showing "no signs of slowing down." Broadcom stock has advanced nearly 54% in 2024, as the company emerged as one of the key beneficiaries of the rise of AI outside of Nvidia . A 10-for-1 stock split it recently announced took effect on Monday. AVGO YTD mountain Broadcom stock. The mix of this customer base will help stoke and maintain future demand, Arya noted.

Persons: Vivek Arya, Arya, Hock Tan, Tan, AVGO Organizations: of America, Broadcom, Nvidia, Google, stoke

☆ Defense stocks historically benefited from Republican control. Analysts warn this may not be the case under Trump
▼ + stars: | 2024-07-16 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Defense has historically outperformed when there's been a single party in control across Congress and the executive branch — in particular, the Republican Party, according to Wells Fargo analyst Matthew Akers. However, Akers believes the defense sector may not benefit if there's a Republican sweep this election cycle. Another two years of low growth for both defense and non-defense looks likely to us," Akers wrote in a Tuesday note. The firm said a Trump presidency is positive for the defense sector. The firm cited the Republican Party's platform, which highlights a "strong military," restoring peace and "made in America" defense systems.

Persons: there's, Wells, Matthew Akers, Donald Trump, Joe Biden, Akers, Trump, TD Cowen Organizations: GOP, Defense, Republican Party, Democrat, Republican, NATO, Ukraine, Caucus, China, Boeing, " Aircraft, Akers, U.S . Aerospace & Defense ETF, ITA Locations: Wells Fargo, U.S, China, America

☆ The shock from the Trump assassination attempt has turned to scrutiny of the Secret Service
▼ + stars: | 2024-07-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The US is still coming to grips with the assassination attempt on former President Donald Trump. In today's big story, we examine the scrutiny the Secret Service is facing and what former special agents are saying about the tragedy . But that's not to say the Secret Service has avoided controversy over the last 40-plus years since the Reagan shooting. Secret Service agents converge on former President Donald Trump onstage at his Pennsylvania campaign rally. AdvertisementUltimately, another former Secret Service agent said the entire event represents a failure for Trump's security detail , BI's Matthew Loh and Cameron Manley report.

Persons: —, Donald Trump, Jenny Chang, Rodriguez, Joe Biden, Insider's Brent D, Griffiths, Katherine Tangalakis, Lauren Edmonds, Saturday, Ronald Reagan, that's, Reagan, Brent, Jabin, Thomas Matthew Crooks, BI's Rebecca Rommen, Crooks, BI's Laura Italiano, Kenneth Niemeyer, Matthew Loh, Cameron Manley, Trump, Corey Comperatore, Kirill Kudryavtsev, Yuriy Gorodnichenko, Goldman Sachs, Michael M, Tyler Le, Jensen Huang, Elon Musk, Sam Altman's, Altman, Rebecca Zisser, Mickey Mouse, Hannah Montana, David, Nvidia's Goliath, Dan DeFrancesco, Jordan Parker Erb, Lisa Ryan, Jack Sommers, Annie Smith, Amanda Yen Organizations: Service, Business, Secret Service, Washington, Getty, FBI, UC Berkeley, NDR, Nvidia, Elon, European, Swedish, Disney, YouTube, GOP, Convention Locations: Colombia, Pennsylvania, Trump, Russia, New York, London

But Mizuho expects things will play out differently, and instead raises its price target on the electric vehicle maker, citing challenges with its robotaxis. Morgan Stanley stands by Starbucks, keeping it at an overweight, but lowering its price target. Fong's $155 price target suggests shares can jump another 19.3% over Thursday's closing level, building on a year of monster gains. Analyst Doug Anmuth hiked the mega-cap technology stock's price target by $100 to $750, now implying 14.9% upside from Thursday's close. While he upped his price target by $50 to $197, that fresh target reflects a drop of 18.3%.

Persons: Morgan Stanley, Cody Acree, Acree, — Alex Harring, Jon Tower, Chipotle, Alex Harring, BTIG, Marvin Fong, Fong, Carvana, CarMax, Doug Anmuth, Anmuth, Anmuth's, that's, he's, Christina Cheddar Berk, Vijay Rakesh, Rakesh, Joseph Spak, Spak Organizations: CNBC, UBS, Starbucks, JPMorgan, Netflix, Nvidia, Citi, Harbour, Tesla, robotaxis, Bloomberg Locations: Thursday's, premarket, China

☆ Jim Cramer explains how to trade Thursday's tech sell-off
▼ + stars: | 2024-07-11 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

After buyers fled from Big Tech on Thursday, CNBC's Jim Cramer advised investors to take advantage of the rotation but beware that it may not last long. It's historically broadened things out, and tomorrow you'll get another chance to make money with today's winners," he said. "But if interest rates stop going down, and stop going down hard, then please do not overstay your welcome." The move was propelled by a low consumer price index reading, fueling Wall Street's hopes that the Federal Reserve will cut interest rates. Housing and industrial stocks such as Home Depot and Caterpillar saw a boost as they stand to benefit from lower rates.

Persons: CNBC's Jim Cramer, you'll, Cramer Organizations: Big Tech, Nvidia, Meta, Federal Reserve, Depot, Caterpillar

☆ Ed Yardeni raises S&P forecast, says 'Roaring 2020s' happening even faster than he expected
▼ + stars: | 2024-07-11 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The stock market's steady rally is forcing even bullish market forecasters to play catch-up and raise their targets. Ed Yardeni of Yardeni Research late Wednesday hiked his year-end target for the S & P 500 to 5,800 from 5,400. This week's report repeated Yardeni's forecast that the S & P 500 can reach 8,000 by the end of the decade. According to the CNBC Market Strategist Survey , the average year-end target from major banks is 5,464, with a median forecast of 5,600. The S & P 500 is higher by 18% year to date, and nearly 28% over the past 12 months.

Persons: Ed Yardeni, We've, Yardeni, CJ Lawrence, EF Hutton Organizations: Yardeni Research, CNBC Market, Survey, yearend, Nvidia, Prudential Equity Group, Deutsche Bank's, Prudential, Bache Securities, EF

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