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Excluding these AI-related sales, semiconductor sales have largely stabilized around the $6 billion level and management continues to think that a "soft landing" is still in the cards. In fact, networking revenue was up 20% versus the year ago period and now represents 40% of revenue at the company's semiconductor segment. Elsewhere within semiconductor solutions, wireless revenues (24% of segment revenue) were flat year-over-year, as was revenue for server storage connectivity (17% of segment revenue). Broadband sales (16% of segment revenue) moderated to 1% year-over-year growth following nine-consecutive quarters of double-digit growth. Industrial sales (about 3% of segment revenue) were down 3% year-over-year.
Persons: Hock Tan, Tan, Jim Cramer's, Jim Cramer, Jim, Broadcom Lucas Jackson Organizations: Semiconductor, Broadcom, Revenue, VMWare, Club, Management, Outlook Management, CNBC
But anticipation is building for the visit of West Ham, who will become the first top-flight team to play a league match at Kenilworth Road since Aston Villa 31 years ago. The volume created by the Hatters fans crammed in on Friday will shake the 118-year-old stadium to its foundations. Forward Cauley Woodrow, who scored in the League Cup win at Kenilworth Road against Gillingham this week, said Luton needed to turn their home into an intimidating 'fortress'. Arsenal's priority will be avoiding any repeat of the early goals they have conceded on a regular basis at home of late. Andreas Pereira's strike for Fulham after 57 seconds last weekend meant the Gunners became the first Premier League team to concede a first-minute goal three times in a calendar year.
Persons: Matthew Childs, hemming, Rob Edwards, We've, Woodrow, Luton, Bramall, Mikel Arteta's, Andreas Pereira's, Martyn Herman, Ken Ferris Organizations: Soccer, Luton Town, Gillingham, Kenilworth, Luton, West Ham United, Burnley, Brighton & Hove Albion, Chelsea, Premier League, Coventry City, Aston Villa, Hatters, League, West Ham, Hammers, Manchester City, Fulham, London, Tottenham Hotspur, Sheffield United, Everton, Newcastle United, Arsenal, Manchester United, Gunners, Thomson Locations: Luton, Britain, Kenilworth, West Ham, West, Bramall Lane, Liverpool, Brighton, Saturday's
The logo of Industrial and Commercial Bank of China (ICBC) is pictured at the entrance to its branch in Beijing, China April 1, 2019. Industrial and Commercial Bank of China Ltd (ICBC) (601398.SS), the country's biggest lender, and Bank of China (BoC) (601988.SS) posted in exchange filings first half profit growth of 1.2% and 0.78%, respectively, from a year earlier. "There are some regional risks that have begun to emerge," Liu said, adding that asset quality has declined slightly but remains under control. BoC's NIM narrowed to 1.67% at end-June from 1.7% at end-March. "Chinese banks are likely to continue to face earnings pressure from margin compression," said Ming Tan, director at S&P Global Ratings.
Persons: Florence, Liu Jiandong, Liu, NIM, BoC's NIM, ICBC, Ming Tan, Tan, BoC's, Ziyi Tang, Engen Tham, Selena Li, Muralikumar Anantharaman, Mark Potter, Kirsten Donovan Organizations: Industrial, Commercial Bank of China, REUTERS, BoC, Commercial Bank of China Ltd, Bank of China, Thomson Locations: Beijing, China, BEIJING, SHANGHAI, HONG KONG, ICBC's
Watch CNBC's investment committee discuss the market bounce
  + stars: | 2023-08-30 | 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 EmailWatch CNBC's investment committee discuss the market bounceSteve Weiss, Bryn Talkington, Joe Terranova, and Kari Firestone join 'Halftime Report' to discuss maintaining the market bounce, expectations for further Federal Reserve rate hikes, and more.
Persons: Steve Weiss, Bryn Talkington, Joe Terranova, Kari Firestone Organizations: Watch, Federal
Workers walk through the Canary Wharf financial district, ahead of a Bank of England decision on interest rate changes, in London, Britain, August 3, 2023. Contrasting with signs of an economic slowdown in other recent surveys, the Lloyds Bank Business Barometer measure of confidence jumped by 10 points in August to 41%, its highest since February 2022. "The bounce in economic optimism this month is the stand-out point," Hann-Ju Ho, senior economist at Lloyds Bank, said. The BoE raised rates for the 14th time in a row this month to counter an inflation rate running at almost 7%. Investors mostly expect the Bank Rate to peak this year at 5.75%, up from its current level of 5.25%.
Persons: Toby Melville, " Hann, Ju Ho, BoE, William Schomberg, Bernadette Baum Organizations: Bank of, REUTERS, Bank of England, Lloyds Bank, Lloyds, Thomson Locations: Bank of England, London, Britain, Ukraine
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe most important data point is what's going on with bonds: Requisite Capital's Bryn TalkingtonSteve Weiss, Bryn Talkington, Joe Terranova, and Kari Firestone join 'Halftime Report' to discuss maintaining the market bounce, expectations for further Federal Reserve rate hikes, and more.
Persons: Bryn, Steve Weiss, Bryn Talkington, Joe Terranova, Kari Firestone Organizations: Federal
China rally runs on hope; bonds bet on slowdown
  + stars: | 2023-08-29 | by ( Tom Westbrook | ) www.reuters.com   time to read: +4 min
European futures rose 0.2% and FTSE futures rose 0.8% to point to a positive return from a day's holiday in London. SLOWINGElsewhere in Asia, investors' focus was on U.S. data that may determine whether or not interest rates need to rise further. U.S. Treasuries extended overnight gains, driving two-year yields down five basis points (bps) to 5% and 10-year yields down two bps to 4.1922%. The Australian dollar inched 0.3% higher to $0.6440, with incoming central bank governor Michelle Bullock due to speak later in the day. The yen remained pinned near Monday's 10-month low, for a loss of some 10% on the dollar this year.
Persons: Ryan Felsman, Michelle Bullock, Jason Xue, Sam Holmes, Kim Coghill Organizations: Foreigners, Treasury, Workers, of America, Financial, HK, Traders, Benchmark, Commonwealth Bank, Thomson Locations: China, Australia, SINGAPORE, Asia, Pacific, Japan, Hong Kong, London, U.S, Sydney . U.S, Shanghai
Bonds rally, stocks drift as China boost fades
  + stars: | 2023-08-29 | by ( Tom Westbrook | ) www.reuters.com   time to read: +3 min
The yen remained an outlier and within a whisker of Monday's 10-month low, which has traders on edge about the risk of intervention. Over the weekend, China announced a halving in stock-trading stamp duties and had on Friday approved some guidelines for affordable housing. Hong Kong's Hang Seng (.HSI) closed less than 1% higher on Monday and was 1% firmer in early trade on Tuesday. On Tuesday in New Zealand shares in Tourism Holdings (THL.NZ), the world's largest campervan rental company, surged 13% after the company reported a record underlying profit. On Tuesday, U.S. job openings figures are due, ahead of Friday's broader labour market data and the ISM manufacturing survey.
Persons: Damian Rooney, Kazuo Ueda, Goldman Sachs, Ryan Felsman, Jason Xue, Sam Holmes Organizations: Nikkei, Argonaut Securities, HK, Bank of Japan, Tourism Holdings, New, Commonwealth Bank of Australia, Thomson Locations: SINGAPORE, U.S, Asia, Pacific, Japan, Hong Kong, China, Perth, New Zealand, Sydney, Shanghai
A shopper pushes a cart with a TV in front of a Best Buy store in Chicago, Illinois, November 25, 2022. Best Buy is seeing a reversion to pre-pandemic sales levels, as consumers return to more typical spending patterns and feel pressure on their budgets because of inflation. Similar to Home Depot and Lowe's , Best Buy had outsized gains during Covid, fueled by big purchases that people don't frequently repeat. Best Buy has looked to new categories, such as health care, and launched a paid subscription program, My Best Buy, to keep driving growth. Correction: The top tier of the My Best Buy program costs $179.99 per year.
Persons: Corie Barry, buybacks, Matt Bilunas, Barry Organizations: Refinitiv, Gaming Locations: Chicago , Illinois, U.S
A trader works on the floor of the New York Stock Exchange during opening bell in New York City on August 21, 2023. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Artificial intelligence, human controlArtificial intelligence must be "subject to human control," Microsoft's president and vice-chairman Brad Smith told CNBC in an exclusive interview. Monetizing Google Maps dataGoogle is planning to license solar and environment data to companies, CNBC has learned.
Persons: Hong, Goldman offloads, Goldman Sachs, Goldman, David Solomon, Brad Smith, Smith Organizations: New York Stock Exchange, CNBC, Nikkei, Creative Planning, United Capital Financial Partners, Google, Tesla Energy, Aurora, Nvidia, Sanlam Investments Locations: New York City, Asia, Pacific
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Investors may be heaving a sigh of relief because stocks have had more down weeks than up so far this month. But September's historically the worst month for stocks, according to CFRA data. And stocks still look vulnerable going into the new month, CNBC Pro's Bob Pisani writes.
Persons: Goldman offloads, Goldman Sachs, Goldman, David Solomon, Bob Pisani Organizations: New York Stock Exchange, CNBC, Creative Planning, United Capital Financial Partners, Google, Tesla Energy, Aurora, Nasdaq Locations: New York City
Market Movers rounded up the latest reactions on Nvidia from investors and analysts. The pros discussed the leading artificial intelligence chipmaker after the stock rallied more than 4% Tuesday. Nvidia's surge Tuesday was part of a broader bounce back in the tech sector, which saw investors buy the dip in stocks that had been hard hit in August. The bank said Nvidia's latest earnings last week were also positive for the AI supply chain . The stock is currently held in Jim Cramer's Charitable Trust portfolio.
Persons: Morgan Stanley, Jim Cramer's Organizations: Nvidia, Trust
Best Buy's CEO said we're in "the low point in tech demand after two years of sales declines." "We continue to expect that this year will be the low point in tech demand after two years of sales declines," Best Buy CEO Corie Barry said Tuesday on a call with analysts after the company reported its second-quarter earnings. Best Buy is already seeing glimmers of stabilization in categories like home theater, executives said on the call. AdvertisementAdvertisementBut first, Best Buy has to get through the rest of this year. "Best Buy faces a tough environment in which few consumers are looking to splurge on big-ticket items such as home theaters, TVs, and appliances," Stambor wrote.
Persons: we're, Macy's, Corie Barry, Barry, Zak Stambor, Stambor Organizations: Shoppers, Service, Chase, Walmart, Amazon, Costco, Intelligence Locations: Wall, Silicon
China's economy is turning into a big black blob. This is happening because Xi's China is one that puts ideology before economic growth. Not because the reforms weren't working, but because the China they were creating is not the one Xi wants to see. Even as the main drivers of China's economy stumble, there will be no direct support to help households power through this fragile period. Known unknownsTransparency in China's economic data has always moved the same cycles as its politics.
Persons: , Xi Jinping, it's, Charlene Chu, Xi, who've, It's, Chu, Fan Zhang, Zhang, Xie Huanchi, thegovernment, Victor Shih, Ministry of State Security —, isn't, Shih, Linette Lopez Organizations: Communist, Autonomous Research, Nike, Starbucks, CCP, National Bureau of Statistics, Custom, J Capital Research, Study Times, Getty, World Trade Organization, Century China Center, University of California, Communist Party, Ministry of State Security, Beijing Locations: China, COVID, Xinhua, University of California San Diego, Beijing
[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. The pan-European STOXX 600 index (.STOXX) rose 0.89% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.60%. Emerging market stocks rose 0.65%. U.S. crude rose 0.34% to settle at $80.10 per barrel, while Brent settled at $84.42, down 0.07% on the day. Gold gained ground as investors continue to digest Fed Chairman Jerome Powell's Jackson Hole commentary last week and looked forward to the week's economic data.
Persons: Brendan McDermid, Chuck Carlson, Carlson, Jerome Powell, China's, Brent, Sterling, Jerome Powell's Jackson, Stephen Culp, Neil Mackenzie, Amanda Cooper, Alex Richardson, Diane Craft Organizations: New York Stock Exchange, REUTERS, payrolls, PMI, Federal Reserve, Horizon Investment, Beijing, Labor, Commerce, Dow Jones, Nasdaq, Japan's Nikkei, Gulf, U.S . Treasury, Fed, Thomson Locations: New York City, U.S, Hammond , Indiana, Jackson Hole , Wyoming, China, Asia, Pacific, Japan, London
U.S. stocks rally, crude rises as crucial data awaits
  + stars: | 2023-08-28 | by ( Stephen Culp | ) www.reuters.com   time to read: +4 min
[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. European stocks were sharply higher with technology shares leading the way, with an assist from China-exposed industrials. The pan-European STOXX 600 index (.STOXX) rose 0.85% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.69%. Emerging market stocks rose 0.65%. Gold gained ground as investors continue to digest Fed Chairman Jerome Powell's Jackson Hole commentary last week and looked forward to the week's economic data.
Persons: Brendan McDermid, Powell, Robert Pavlik, Jerome Powell, China's, Brent, Sterling, Jerome Powell's Jackson, Stephen Culp, Neil Mackenzie, Amanda Cooper, Alex Richardson Organizations: New York Stock Exchange, REUTERS, payrolls, PMI, Federal Reserve, Dakota Wealth, Beijing, Labor, Commerce, Dow Jones, Nasdaq, Japan's Nikkei, U.S . Treasury, Thomson Locations: New York City, U.S, Fairfield , Connecticut, Jackson Hole , Wyoming, China, Asia, Pacific, Japan, London
World shares (.MIWD00000PUS) were up 0.3% in European trading. European stocks, led by technology shares and China-exposed automakers, also rose. But the uncomfortable message from Jackson Hole may mean a protracted higher inflation than market bulls might have hoped, said the note. Figures on European Union inflation this week may also be instrumental in whether the European Central Bank (ECB) decides to hike next month. Oil prices drew some support from the storm developing in the Gulf of Mexico and China support.
Persons: Issei Kato, Florian Ielpo, Jerome Powell, Lombard, Ielpo, Jackson, Christine Lagarde, Ben Broadbent, Kazuo Ueda, Brent, Nell Mackenzie, Amanda Cooper, Stephen Coates, Hugh Lawson Organizations: Nikkei, U.S, REUTERS, Companies, payrolls, China PMI, China, Nasdaq, FTSE, China Evergrande, HK, Hong Kong Stock Exchange, Shanghai, Lombard, Traders, Federal, Fed, JPMorgan, European Central Bank, Bank of England, Bank of Japan, Thomson Locations: Tokyo, Japan, China, Beijing, Generali, Hollywood, Friday's, Gulf of Mexico
China's economy is stumbling, but financial markets don't indicate that it will lead to a systemic crisis. After a first-quarter bounce, China's economic rebound from zero-COVID policies has been disappointing, with factories and consumers slowing down. But Gave cited other indicators that present a different take on the Chinese economy. Gave also pointed out that iron ore prices, which are sensitive to China's economy, have jumped 50% from their October 2022 low. AdvertisementAdvertisement"That is not to deny that China's economy faces genuine challenges or that Chinese economic growth is slowing, cyclically and structurally," he concluded.
Persons: Louis, Vincent, Vincent Gave, Beijing's Organizations: Service, Financial Times, FTSE, US, Ferrari Locations: Hong Kong, Wall, Silicon, China, Beijing, FTSE China
Learn moreWe can help you find everything you need to watch a free F1 live stream of the Dutch GP today. So take a look at the guide below for everything you need to watch the Dutch F1 live stream for free from anywhere. Where to Watch a free Dutch F1 live streamThis weekend's simplest option for a free F1 live stream is using a VPN to tune into one of the free European streams mentioned above. How to watch the Dutch F1 live stream with a VPNSign up for a VPN if you don't have one. Turn it on and set it to a country with a free live stream.
Persons: We've, There's, ExpressVPN Organizations: FIBA Basketball, BBC, RTL, US ESPN, ESPN Locations: Austria, Belgium, Luxembourg, TV's
Bounce , a luggage storage company, compared 60 airlines from around the world to determine which of them is the best international airline. The factors Bounce considered for their ranking include:Japan Airlines is the highest-ranking international airline, with an overall score of 8.28. The Japanese airline scored four out of five in meals, seat comfort, staff service, and in-flight entertainment. Japan Airlines offers many direct routes from the United States to Japan's major transport hubs like Tokyo, Osaka, and Nagoya. The airline's operations include international and domestic passenger and cargo services to 220 destinations and 35 countries worldwide.
Organizations: Japan Airlines Locations: United States, Tokyo, Osaka, Nagoya
Republican presidential candidate and Florida Governor Ron DeSantis speaks at the first Republican candidates' debate of the 2024 U.S. presidential campaign in Milwaukee, Wisconsin, U.S. August 23, 2023. But it showed DeSantis remained stuck in distant second place with 13% of support of Republican respondents while Trump, the former president, had 52%, marginally higher than the 47% he received in a Reuters/Ipsos poll in early August. Still, about half of Republican respondents said they were more likely to support DeSantis based on what they had heard about the debate. About four in 10 Republicans said they were more likely to back Ramaswamy or Haley based on the debate. Only 5% of Republicans said they outright backed Ramaswamy while only 4% supported Haley, similar shares to what they had before the debate.
Persons: Ron DeSantis, Brian Snyder, Donald Trump, DeSantis, Trump, Tucker Carlson, Vivek Ramaswamy, Nikki Haley, Ramaswamy, Haley, Mike Pence, Joe Biden, Trump's, Jason Lange, Ross Colvin, Howard Goller Organizations: Florida, Republican, REUTERS, Rights, Reuters, Republicans, Trump, Twitter, Democrat, Thomson Locations: Milwaukee , Wisconsin, U.S, Florida, Milwaukee, Atlanta, Georgia
Thursday's sell-off is a buying opportunity as key support levels remain in place, according to Fundstrat. Stocks closed sharply lower on Thursday after the market failed to maintain the momentum from much stronger-than-expected earnings out of Nvidia. The S & P 500 initially popped before ending the day down 1.35% — it's biggest one-day loss since Aug. 2. "Bottom line, Thursday's reversal wasn't severe enough to call for a pullback to new monthly lows," Newton said. "Moreover, I'm still expecting that U.S. Equity markets can move higher after Thursday's reversal, which might allow for a brief move above SPX-4500 before any additional weakness gets underway."
Persons: Thursday's, Mark Newton, Newton, I'm Organizations: Nvidia, . Equity
Why failure is your child’s best tool
  + stars: | 2023-08-24 | by ( Faye Chiu | Analysis Michelle Icard | ) edition.cnn.com   time to read: +6 min
Parents and guardians often feel exhilarated by our children’s successes as much as we feel panicked and exhausted by their mistakes. We feel what they feel, and it’s a lot to go through, for them and for us. You need to experience “just the right amount” of setbacks to feel pain, learn from it, repair and become stronger. But there is something you can use to make sure that your child’s setbacks don’t become the headline of their childhood and, instead, become a launchpad for growth. Her latest book, “Eight Setbacks That Can Make a Child a Success,” is available at all major and indie booksellers.
Persons: she’d, Michelle Icard, Danielle Siess, you’ll, , don’t Organizations: CNN
Morning Bid: August rescued by Nvidia, bond rally
  + stars: | 2023-08-24 | by ( ) www.reuters.com   time to read: +5 min
REUTERS/Brendan McDermid Acquire Licensing RightsA look at the day ahead in U.S. and global markets from Mike DolanA dire August for world markets is being rehabilitated in its final week, helped by another sparkling AI-related surprise from chip giant Nvidia (NVDA.O) and a rebound in battered bond markets. The bar for surprise from Wednesday's earnings update was sky high, but the company somehow managed to vault it again. Despite the rebound the index is still down more than 4% for August - its worst month since last September. Ironically, the retreat in bond yields comes amid signs of cooling economic activity - but that comes with the significant relief that central banks may not have to squeeze any harder to get inflation back close to targets. Bond yields are in retreat in advance of the speech, helped by the easing economic data and a decent 20-year bond auction on Wednesday.
Persons: Brendan McDermid, Mike Dolan, Jerome Powell's, Jackson, China's spluttering, Bernadette Organizations: New York Stock Exchange, REUTERS, Nvidia, Federal Reserve, Fed, Treasury, Woodside Energy, Chicago Fed, Kansas City Fed, Intuit, Ulta, Reuters, Thomson Locations: New York, U.S, Frankfurt, Asia, Shanghai, Europe, Kansas, Jackson
Germany was first described with that moniker in 1998 as the country navigated the costly challenges of a post-reunification economy. The issues weighing on Germany's economy can be separated into "two very separate battles," Stefan Kooths, research director for business cycles and growth at the Kiel Institute for World Economy, told CNBC. "It is a different sickness [compared to] 20 years ago," Brzeski told CNBC. Energy obstaclesLike most of Europe, Germany's energy prices have been volatile following Russia's full-scale invasion of Ukraine. "Many Germany-headquartered businesses are doing well globally, but they are struggling with operations in their own country," Siegfried Russwurm, head of the German Industry Federation, told CNBC in June.
Persons: DANIEL ROLAND, aren't, it's, Holger Schmieding, Schmieding, Jasmin Groeschl, Stefan Kooths, Carsten Brzeski, China's, Brzeski, Groeschl, Joerg Kraemer, Kooths, Siegfried Russwurm Organizations: Frankfurt Cathedral, AFP, Getty, International Monetary Fund, Berenberg, CNBC, Europe, Allianz, Kiel Institute, World, ING Research, German Industry Federation Locations: Frankfurt, Germany, Europe, France, China, Kiel, Ukraine
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