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☆ Jensen Huang is $60 billion richer this year thanks to Nvidia's soaring stock — and just rejoined the $100 billion club
▼ + stars: | 2024-09-13 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Jensen Huang has grown about $14 billion richer in four days thanks to Nvidia's soaring stock. He's rejoined the $100 billion club after an unmatched $60.5 billion rise in his wealth this year. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy .

Persons: Jensen Huang, He's, Mark Zuckerberg, Larry Ellison, —, Jensen Organizations: Service, Nvidia, Bloomberg, Business

☆ Federal Reserve will opt for slow policy easing as there's 'still work to do' on inflation, Fitch says
▼ + stars: | 2024-09-13 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

"One reason we expect Fed easing to proceed at a relatively gentle pace is that there is still work to do on inflation," the report said. On a month-on-month basis, inflation rose 0.2% from July. Core CPI, which excludes volatile food and energy prices, rose 0.3% for the month, slightly higher than the 0.2% estimate. The 12-month core inflation rate held at 3.2%, in line with the forecast. It took far longer than anticipated to tame inflation and gaps have been revealed in central banks' understanding of what drives inflation."

Persons: Fitch, Dow Jones Organizations: U.S, Fitch, Labor Department, CPI, Fed Locations: Federal

☆ A big Fed meeting looms in the week ahead as economic concerns percolate
▼ + stars: | 2024-09-13 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The Federal Reserve is set to meet Tuesday and Wednesday — and is is widely anticipated to make its first interest rate cut after embarking on a hiking campaign in March 2022. As it is, stocks are headed for a winning week ahead of the meeting. On Friday, the CME FedWatch tool showed markets were split how big the rate cut would be. Investors will also watch what Fed policymakers will signal in its summary of economy projections regarding future policy moves. He worries that stocks will rally heading into the central bank meeting, with investors possibly selling the news afterward.

Persons: It's, disinflation, Chadha, CNBC's, Dave Sekera, Giuseppe Sette, Sette, BTIG's Jonathan Krinsky, Morningstar's Sekera, Bank Asset Management Group's Bill Northey, Mills, homebuilder Organizations: Federal, Deutsche Bank, Dow Jones, Nasdaq, Morningstar, U.S, Bank Asset Management Group's, Olive, Darden, FedEx, Index, Retail, Manufacturing, Housing, Philadelphia Fed Locations: U.S, Olive Garden, NAHB

☆ A market and tech hedge ahead of an uncertain Fed decision next week
▼ + stars: | 2024-09-13 | by ( Jeff Kilburg | ) www.cnbc.com time to read: +3 min

The Federal Reserve has telegraphed the kickoff of their interest rate cutting campaign to begin next week. I believe a quarter-point interest rate cut is their first step but, a half-point interest rate cut (which has the ability to roil markets) has recently been floated strongly. The Nasdaq-100 dropped 6% last week and is now up nearly 5% this week, these are not normal market conditions. QQQ YTD mountain Invesco QQQ Trust, YTD The Cboe Volatility Index , yet elevated, is not showing current signs of panic. The trade The CME Fedwatch tool is narrowly favoring a 25 basis point interest rate cut but, it is oddly closer to a coin toss than it was last week.

Persons: pont, QQQ Organizations: Federal Reserve, Fed, Nasdaq, CNBC, NBC UNIVERSAL

☆ Americans are the richest they've ever been thanks to soaring real estate and stock prices
▼ + stars: | 2024-09-13 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Americans' net worth hit a record $163.8 trillion in Q2, driven by a surge in real estate and stock prices. Data from the Federal Reserve shows a nearly 2% increase In net worth from Q1, with real estate leading the gains. Record highs in Americans' net worth could drive a "wealth effect" that leads to the economy's continued resilience. AdvertisementNew data from the Federal Reserve reveals that Americans are the richest they've ever been. A $1.8 trillion increase in real estate valued and a $700 billion gain in stocks drove the increase.

Persons: —, David Rosenberg, " Rosenberg, It's Organizations: Federal Reserve, Service, National, Census Locations: States

☆ Goldman Sachs loves these 4 top European stocks — giving one 110% upside
▼ + stars: | 2024-09-13 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Four U.K.-listed stocks — one of which was given 110% upside — are among Goldman Sachs' European conviction list. While the S & P 500 fell by 5.85% in the first week of August, the FTSE 100, an index of the 100 largest London-listed stocks, outperformed by falling by only 2.4%. .FTSE .SPX 5Y line The investment bank said the FTSE 100 "can also provide good diversification from the concentrated and Tech-heavy S & P 500 ." The bank notes that SSE's "leading capabilities vs. peers position it well to capture this investment growth." The investment bank said the company "is at the start of a revenue acceleration" supported by increasing market share and expansion into new markets.

Persons: Goldman Sachs, Goldman, Sharon Bell, Tufan Erginbilgic, LSEG Goldman, LSEG Organizations: FTSE, SPX, Tech, BT Group, Royce, London Stock Exchange, BT, London Stock Exchange Group, Bloomberg, Microsoft Locations: British, London, United States

☆ Dollar weak as traders add to wagers of big rate cut from Fed
▼ + stars: | 2024-09-13 | by ( ) www.cnbc.com time to read: +3 min

While the Fed is all but certain to cut rates next week, uncertainty around whether it will go with a 25 basis point cut or 50 basis points has kept investors on the edge and weighed on the dollar. Analysts pointed to media reports from the Financial Times and the Wall Street Journal suggesting the Fed's decision would be a close call as one of the reasons for traders adding to wagers of a big rate cut next week. Higher U.S. jobless claims data released on Thursday and the Wall Street Journal article on the Fed's rate cut dilemma revived bets on a jumbo cut at the September meeting, according to Christopher Wong, currency strategist at OCBC. Besides the Fed, the Bank of England and Bank of Japan hold policy meetings next week. "Risks remain that inflation may not return to target as easily as everyone, including the Fed, seems to expect."

Persons: Christopher Wong, Christine Lagarde, Ryan Brandham, Naoki Tamura, Sterling, BoE Organizations: Federal Reserve, Financial Times, Wall, Traders, European Central Bank, Fed, Bank of England, Bank of Japan, Validus Risk Locations: North America

☆ Asia-Pacific markets mostly fall, but China set to rebound from near six-year low
▼ + stars: | 2024-09-13 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

The sails of the Opera House are illuminated with projections on the opening night of Vivid Sydney 2023 in Sydney, Australia, on Friday, May 26, 2023. Anadolu Agency | Anadolu Agency | Getty ImagesAsia-Pacific markets mostly fell on Friday, putting a halt to gains from Thursday even as Wall Street's tech rally continued. This was above July's revised figure of 3.6% and also beat expectations of 3.5% from economists polled by Reuters. Hong Kong Hang Seng index futures were at 17,294, higher than the HSI's last close of 17,240. Futures for mainland China's CSI 300 stood at 3,176, just slightly higher than the index's last close, a near six-year low of 3,172.47 on Thursday.

Persons: Australia's Organizations: Opera, Vivid, Anadolu Agency, Getty, Reuters, Nikkei, Futures, China's CSI Locations: Sydney, Australia, Asia, Pacific, India, Hong Kong

☆ Elon Musk now travels with up to 20 bodyguards who refer to him by the code name 'Voyager,' report says
▼ + stars: | 2024-09-13 | by ( Jaures Yip | ) www.businessinsider.com time to read: +4 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. That's the code name that Elon Musk's security team uses to refers to him, The New York Times reported as part of an investigation into the Tesla CEO's protective services. This story is available exclusively to Business Insider subscribers. AdvertisementIn 2022, Business Insider revealed that Musk secretly bought a house after his former address became public knowledge. Related storiesA Tesla SEC filing revealed that Musk's security company billed the company $2.4 million in 2023 and another $500,000 through February 2024, representing just a portion of Musk's total security expenses.

Persons: —, Musk, He's, Errol, Mark Zuckerberg's, Tim, Tesla, Zachary Kirkhorn Organizations: Service, NASA, Elon, New York Times, Business, Times, SEC, Errol's, Apple, Tesla's Locations: bitcoin, Nevada, Texas

☆ Stocks often drop in September — but many investors shouldn’t care
▼ + stars: | 2024-09-13 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Traders on the New York Stock Exchange floor on Sept. 9, 2024. Spencer Platt | Getty Images News | Getty ImagesSeptember historically hasn't been kind to stock investors. September is the only month during that nearly century-long period in which investors experienced an average loss, according to Morningstar. Trying to time the market is a losing betAlistair Berg | Digitalvision | Getty ImagesInvestors holding their money in stocks for the long-term shouldn't bail, Yoder said. Don't put faith in market maximsSimilarly, investors shouldn't necessarily accept market maxims as truisms, experts said.

Persons: Spencer Platt, Morningstar, Abby Yoder, Yoder, Alistair Berg, Digitalvision, Edward McQuarrie, McQuarrie, couldn't, J.P Morgan Organizations: New York Stock, Getty, Morningstar Direct, Finance, Morgan Private Bank, Investors, Santa Clara University, Fidelity Investments, Federal Reserve, Investor, Mutual Locations: U.S, Wells, New York City, New York

☆ Morgan Stanley analysts give their favorite stocks to own for the next 12 months
▼ + stars: | 2024-09-13 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

From e-commerce firm Amazon to pharmaceutical giant Eli Lilly , Morgan Stanley's top stocks to own for the next 12 months spans a wide array of sectors. The majority of Morgan Stanley's picks are tilted toward growth, with 67% of the picks meeting that classification. Here's a look at some of the stocks that Morgan Stanley says are worth owning over the next year. Amazon stock has added 23% in 2024. LLY YTD mountain Eli Lilly stock.

Persons: Eli Lilly, Morgan, Morgan Stanley's, Morgan Stanley, Brian Nowak's, Nowak, Terence Flynn's, Eli Lilly's, LLY, Flynn Organizations: Nasdaq, Dow Jones, Amazon, Pharma

☆ CNBC Daily Open: All key data is in — and it's made the Fed's policy path more uncertain
▼ + stars: | 2024-09-13 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Last Friday, the August employment report showed the number of jobs added was lower than expected but higher than the previous month. Wednesday's CPI report showed the lowest 12-month inflation rate in two-and-a-half years. In short, the data hasn't cleared up whether the Fed will cut by 25 or 50 basis points. They think there's a 57% chance of a 25 point cut and 43% of a 50 point one, according to the CME FedWatch tool.

Persons: Stefani Reynolds, We've, Wednesday's, Jeff Cox, Pia Singh, Sarah Min Organizations: Eccles Federal Reserve, Bloomberg, CNBC, U.S . Federal Reserve, PPI Locations: Washington ,

☆ CNBC Daily Open: With all key data in, the Fed's policy path looks more uncertain
▼ + stars: | 2024-09-13 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Hotter-than-expected core, againThe U.S. producer price index, which measures the prices producers receive before retailers sell goods and services to consumers, rose 0.2% in August, according to the Bureau of Labor Statistics. However, like the consumer price index, core PPI came in 10 basis points higher than expected. But investors are ignoring two big risks to the market, said a chief investment officer of a wealth management firm.

Persons: Hong, Dow Jones, Sheila Kahyaoglu, Safra Catz, Bond Organizations: CNBC, Nasdaq, Dow Jones Industrial, Nikkei, U.S ., Bureau of Labor Statistics, PPI, Boeing, Jefferies, Oracle, Amazon, Google, Microsoft Locations: Asia, Pacific, U.S, Seattle, Oregon

☆ 2-year Treasury yield slides as investors assess interest rate outlook
▼ + stars: | 2024-09-13 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was down by over four basis points to 3.6364%. The 2-year Treasury yield was last more than six basis points lower to 3.5824%. Attention began to turn to the Federal Reserve meeting next week at which the central bank is widely expected to cut interest rates. Traders were last pricing in a 59% chance of a 12-basis-point rate cut and a 41% probability of a 50-basis-point reduction, according to CME Group's FedWatch tool. The Fed's meeting is set to begin Tuesday before concluding Wednesday, with the interest rate decision and a post-meeting press conference.

Persons: Dow Jones Organizations: Treasury, U.S, Federal Reserve, Traders, PPI, Dow

A golden cross is a chart pattern in which a stock's 50-day moving average moves above its 200-day average. Given the more volatile backdrop, CNBC Pro screened FactSet for stocks that are forming or approaching a golden cross pattern. The health-care stock has a 50-day moving average of $103.31 and is approaching its 200-day moving average of $104.14. MarketAxess Holdings Meanwhile, the 50-day moving average of $230.11 for MarketAxess Holdings has already surpassed its 200-day moving average of $228.36, indicating possible future gains. Its 50-day moving average of $218.04 has also already passed its 200-day moving average of $215.18.

Persons: paring, Cardinal Health's Organizations: Dow Jones, Nasdaq, CNBC Pro, Health, Holdings, MarketAxess Holdings, SBA Communications SBA Communications, SBA Locations: Wednesday's

☆ European markets poised to rally at the open, ahead of anticipated ECB rate cut
▼ + stars: | 2024-09-12 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European Central Bank (ECB) President Christine Lagarde addresses a press conference on the Eurozone's monetary policy, at the central bank's headquarters in Frankfurt am Main, western Germany, on July 18, 2024. LONDON — European stocks are expected to rally at the open Thursday as investors in the region await the latest monetary policy decision from the European Central Bank. The U.K.'s FTSE index is seen opening 76 points higher at 8,267, Germany's DAX up 159 points at 18,482, France's CAC 40 up 64 points at 7,460 and Italy's FTSE MIB up 257 at 33,472, according to data from IG. The European Central Bank (ECB) is expected to slash rates again by 25 basis points on Thursday, a move that would mark the first cut since June, when it described the potential for a September reduction as "wide open." The ECB's key interest rate — which helps to price all sorts of loans and mortgages across the bloc — is currently at 3.75% after years of aggressive hikes.

Persons: Christine Lagarde, Germany's DAX Organizations: European Central Bank, LONDON, The, CAC, IG Locations: Frankfurt, Germany

☆ You may not have noticed your big-ticket purchases are getting cheaper
▼ + stars: | 2024-09-12 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +1 min

The consumer price index rose by 2.5% year over year, but durable-goods prices have declined. Americans may not feel the price drops, given how infrequent these purchases are. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But you may not have noticed unless you've made a big-ticket purchase in the past year.

Persons: —, you've, they've Organizations: Service, Business

☆ Stock market today: Indexes rise as investors assess producer inflation and jobless claims data
▼ + stars: | 2024-09-12 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +2 min

Indexes rose Thursday as investors digested new inflation and labor market data. Jobless claims last week rose slightly following two weeks of consecutive declines. The producer price index logged a 0.2% monthly rise, in-line with expectations. In the second inflation reading of the week, the producer price index rose 0.2% from July to August, in line with expectations. This corner of the stock market is set to outperform once the Fed starts cutting interest rates, Goldman Sachs says.

Persons: —, Harris, Ed Yardeni, Goldman Sachs Organizations: Service, Federal Reserve, Labor Department, Here's, Trump

☆ New high yield funds are hitting the market as Fed prepares to cut interest rates
▼ + stars: | 2024-09-12 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +4 min

The firm launched two high yield ETFs on Thursday, aimed at different sections of the high yield market: the Columbia U.S. High Yield ETF (NJNK) and Columbia Short Duration High Yield ETF (HYSD) . The state of high yield So far this year, high yield debt is outperforming the bond market as a whole. The biggest high yield index ETF, the iShares Broad USD High Yield Corporate Bond ETF (USHY) , has returned 7.2% year to date, compared with 4.9% for the firm's Core U.S. High yield when rates fall When market interest rates go down, the price of long-term bonds tends to rise. Some other recent examples include the BlackRock High Yield ETF (BRHY) and the AB Short Duration High Yield ETF (SYFI) .

Persons: Marc Zeitoun, Zeitoun, Dan DeYoung, Columbia Threadneedle, That's, DeYoung, NJNK, Kris Keller, Keller Organizations: Columbia, Columbia U.S, Federal Reserve, firm's, Aggregate Bond, Morningstar Locations: America, Treasurys, BlackRock

☆ CNBC's Inside India newsletter: What happens when the Fed cuts rates?
▼ + stars: | 2024-09-12 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Historically, a rate cut has been a signal for central banks in emerging markets, like India, to follow by easing monetary policy in their regions. The latest data shows that the inflation rate appears to be heading in the wrong direction in India. The headline inflation rate rose in August to 3.65% compared to 3.6% in the previous month. Instead, markets have simply hit snooze on a rate cut by the Reserve Bank of India for the moment. If there's no global recession, a risk-on sentiment will likely help push up emerging market equities in the medium term after the U.S. central bank cuts rates.

Persons: Shah, Mahesh Nandurkar, Surendra Goyal, CNBC's, BofA, Banks Organizations: Federal, Reserve Bank of India, Reserve Bank, Capital Economics, India, greenback, Federal Reserve, Jefferies, Bank of America, Citi, India Research, Bank Locations: India, U.S

☆ Wholesale inflation slowed again last month
▼ + stars: | 2024-09-12 | by ( Alicia Wallace | ) edition.cnn.com time to read: +1 min

CNN —US producer prices continued to cool overall in August, showing that inflation across the economy is improving. But a closely watched measure of underlying inflation remained stubbornly elevated, reflecting the bumpiness in reining in price hikes. August’s monthly increase was driven by a 0.4% gain on the services side, as goods prices were unchanged, thanks in part to falling energy prices. Economists had expected that prices would increase 0.2% on a monthly basis and 1.8% annually, according to FactSet estimates. Excluding the more volatile categories of food and energy, core PPI advanced 0.3% from July, countering a 0.2% decline seen the month before.

Persons: Price Organizations: CNN, of Labor Statistics, PPI, Federal Reserve Locations: US, reining

☆ Wholesale prices rose 0.2% in August, in line with expectations
▼ + stars: | 2024-09-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Wholesale prices rose in August about in line with expectations, the final inflation data point as the Federal Reserve gets set to lower interest rates. The core increase was the same when excluding trade services. On a 12-month basis, headline PPI rose 1.7%. On the PPI measure, services prices pushed much of the gain, with a 0.4% monthly increase driven by a rise in services less trade, transportation and warehousing. The release comes a day after the BLS reported that consumer prices rose 0.2% on the month in line with expectations.

Persons: Dow Jones Organizations: Federal Reserve, of Labor Statistics, PPI, Labor Department, BLS

☆ CNBC Daily Open: Looking past sticky core inflation
▼ + stars: | 2024-09-12 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Spencer Platt | Getty Images News | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The S&P 500 climbed 1.07%, the Dow Jones Industrial Average added 0.31% and the Nasdaq Composite shot up 2.17%. Core inflation, to which the Fed pays more attention because it more accurately reflects price movements, came in a bit higher than expected for the month. Core inflation was higher than the headline number because food and energy prices are stripped out from the former.

Persons: Spencer Platt, –, Jeff Cox, Pia Singh, Lisa Kailai Han Organizations: Getty, CNBC, Dow Jones, Nasdaq, Fed, of Labor Statistics, Nvidia, Reuters, U.S . House Locations: Brooklyn, New York City, U.S, Saudi Arabia

☆ Investors expecting an aggressive Fed cut are getting too 'ahead of the curve,' UBS CEO says
▼ + stars: | 2024-09-12 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

The CEO of Swiss banking giant UBS said Thursday that the fight against inflation isn't over yet, and some investors seem to be getting too ahead of themselves in expecting that the U.S. Federal Reserve could pull an aggressive rate cut this month. "I think the market seems to be a little bit too ahead of the curve in expecting the Fed to go so aggressively," Sergio Ermotti, Group CEO of UBS Group AG, told CNBC's "Squawk Box Asia." The question of whether the Fed will lower rates at the end of its next policy meeting September 18 has largely been answered. The only question that remains is: by how much. The "most important" issue that the Fed needs consider is still inflation, which remains sticky and not yet "totally under control," Ermotti added.

Persons: Sergio Ermotti, CNBC's, Ermotti Organizations: UBS, U.S . Federal, UBS Group AG, Fed Locations: U.S

☆ Nikkei jumps 3%, leading Asia-Pacific markets higher
▼ + stars: | 2024-09-12 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

A General view showing the Central Business District in Central on May 18, 2023 in Hong Kong, China. Asia-Pacific markets opened higher on Thursday, tracking gains on Wall Street after a volatile session spurred by inflation data. Japan's producer price index rose 2.5% year-on-year in August, less than the expected 2.8% and the 3% reported in the previous month. Investors will also look toward the release of Hong Kong's producer price index for the second quarter this afternoon. The listing is set to be the largest offering in Hong Kong since May 2021.

Persons: Jensen Huang, Goldman Sachs, Hong Organizations: Central Business District, Nikkei, Nvidia, Technology Conference, SK Hynix, Samsung Electronics, SoftBank, Bank of Japan, Reuters, Midea Locations: Central, Hong Kong, China, Asia, Pacific, San Francisco, Tokyo, India

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