DIRS.INFO The most relevant business & tech news

Stocks rallied Friday after the latest jobs report came in piping hot. The Dow rose 307 points, or 0.8%, after climbing more than 400 points at the day's highs. Still, all three major indexes ended the week lower, starting the second quarter of the year on a sour note. While the latest jobs report supports the idea that the US economy is holding strong against interest rates at a 23-year high and could avoid a recession, it also puts into question when the Federal Reserve will begin its long-awaited rate cuts. The US economy added 303,000 jobs last month, according to data released Friday by the Labor Department.

Persons: Stocks, Mike Sanders Organizations: Dow, Nasdaq, Federal Reserve, Labor Department, Fed, Madison Investments

☆ Premarket stocks: The rally is sputtering. Earnings season could revive it
▼ + stars: | 2024-04-05 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

Investors are hoping the upcoming earnings season will help bring back this year’s banner rally. The first-quarter earnings season could get the stock rally chugging along again, some investors say. Earnings season kicks off next week with quarterly updates from Delta Air Lines, Citigroup, BlackRock, JPMorgan Chase and Wells Fargo. For the millions of recent Latino immigrants in the US, construction jobs have low barriers to entry and the openings are plentiful. The crackdown comes as its rival Netflix has attributed a jump in signups from its recent crackdown on password sharing.

Persons: Stocks, FactSet, ”, Matthew Stith, Wells, Yung, Yu Ma, Francis Scott Key, Ramishah Maruf, Gloria Pazmino, We’re, It’s, Reinaldo Quintero, “, ” Read, Samantha Murphy Kelly, Bob Iger, hasn’t, Read Organizations: CNN Business, Bell, New York CNN, Investors, Bartlett Wealth Management, Delta Air Lines, Citigroup, JPMorgan Chase, BMO Wealth Management, Bureau of Labor Statistics, CNN, Disney, CNBC, Netflix Locations: New York, BlackRock, Wells Fargo, Baltimore, America, signups

☆ 3 things rattling markets this week
▼ + stars: | 2024-04-04 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

The S&P 500 tumbled the first two trading days of the new quarter and is down 0.8% for the week after paring back some of its losses on Wednesday. Some Fed officials revealed at the central bank’s policy meeting last month that they see fewer rate cuts than the three they forecast last December for 2024. Traders see a 63% expectation that the Fed cuts rates in June, a drop from more than 70% a week earlier, according to the CME FedWatch Tool. “With Middle East tensions on the rise, OPEC+ supply side measures have pushed crude oil volatility down,” BofA strategists wrote in a Wednesday report. “Adding to a complex backdrop, we now estimate that improving economic growth expectations have helped push global oil markets into a deficit.”The price of gold has also climbed this week.

Persons: New York CNN — Stocks, “, ”, Brent Schutte, Jerome Powell, •, Loretta Mester, Raphael Bostic, Brent, Michael Shvartsman, Gerald Shvartsman, Donald Trump’s, Matt Egan, “ Michael, ” Damian Williams, Bruce Garelick, ” Williams, ” Read, Joe Biden, Sean Lyngaas, China Nicholas Burns, Antony Blinken, Read Organizations: CNN Business, Bell, New York CNN —, Treasury, FactSet, Northwestern Mutual Wealth Management, Hawkish, San Francisco Fed, Stanford University, Wednesday, • Cleveland Fed, Atlanta Fed, CNBC, Traders, Organization of, Petroleum, West Texas, Brent, Bank of America, Trump Media, Trump Media & Technology Group, DWAC, Southern, of, Acquisition Corporation, “, Microsoft, US, Department of Homeland Security, CNN Locations: New York, OPEC, Florida, of New York, Washington, China

☆ The battle over Disney’s future is about to be decided in a high stakes board vote
▼ + stars: | 2024-04-02 | by ( Hadas Gold | Samantha Delouya | ) edition.cnn.com time to read: +8 min

Two competing slates of board seats are now up for a vote against Disney’s. Peltz has criticized Disney’s recent theatrical flops and said the company should reach “Netflix-like margins” with its Disney+ streaming service, among other issues. If Peltz is successful, he and Rasulo could gain up to two seats on the board, displacing Disney’s picks. More than 35% of Disney’s shares are held by these individuals, who could seriously sway the vote. The influential advisory firms Institutional Shareholder Service and Egan-Jones have also thrown their support behind Peltz for at least one seat on the board.

Persons: Nelson Peltz, Jay Rasulo, Peltz, Ike Perlmutter, Bob Iger, ” Barton Crockett, Disney, ” Trian, Rasulo, Iger, Bob Chapek, Peltz —, —, It’s, ” Peltz, Perlmutter, ”, “ They’ve, ’ ” Crockett, Anna, Elsa, Ludwig Von Drake, “ Disney, George Lucas, Jamie Dimon, Michael Eisner, Laurene Powell Jobs, Abigail E, they’ve, ” Jessica Reif Ehrlich, “ Nelson Peltz, Neuberger Berman, Egan, Jones, ” Crocket, CNN’s Liam Reilly, Krystal Hur Organizations: CNN, Disney, Magic Kingdom, Disney’s, Trian Fund Management, Blackwells, Marvel, Netflix, Rosenblatt Securities, ESPN, ABC, Google, JPMorgan Chase, BofA Securities, California, Service Locations: Trian

☆ Dow falls more than 440 points to continue second quarter’s weak start
▼ + stars: | 2024-04-02 | by ( Krystal Hur | ) edition.cnn.com time to read: +1 min

The Dow Jones Industrial Average dropped 418 points, or 1.1%, on Tuesday after declining more than 500 points at its lows. That means the blue-chip index has sunk roughly 800 points during the first two days of the second quarter. On Tuesday morning, the S&P 500 fell 1.1% and the Nasdaq Composite lost 1.5%. The Personal Consumption Expenditures price index, the Fed’s preferred inflation gauge, rose 2.5% for the 12 months that ended in February, a faster clip than January’s price increase. Traders pulled back their expectations for a rate cut in June to about 62% from more than 70% a week earlier, according to the CME FedWatch Tool.

Persons: New York CNN — Stocks, Jerome Powell, ” Organizations: New, New York CNN, Federal, Dow Jones, Nasdaq, San Francisco Fed, Traders Locations: New York

☆ The S&P 500 just turned in its best first quarter since 2019
▼ + stars: | 2024-03-28 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

The S&P 500 index rose 10.2% during the first three months of the year, its best first-quarter performance since 2019. The S&P 500 on Thursday logged its 22nd record-high close of the year. Companies in the S&P 500 saw earnings grow 4.3% during the fourth quarter of 2023 from the prior year, according to FactSet data. Analysts polled by FactSet expect S&P 500 earnings to grow by more than 10% for all of 2024. About 140,000 cars a day traversed the I-35W bridge that once stood more than 100 feet above the Mighty Mississippi.

Persons: Bell, Bitcoin, What’s, Leslie Thompson, Warren Buffett’s, Zachary Hill, ”, Elisabeth Buchwald, Samantha Delouya, Ron DeSantis, DeSantis, Disney’s, Bob Chapek, “ Don’t, ” Chapek, ” DeSantis, “ I’m, Read, Francis Scott Key, Alicia Wallace, ” Christopher Phelan, ” Read Organizations: CNN Business, Bell, New, New York CNN, Traders, Dow Jones Industrial, Nasdaq, Investment Research, Dow, Apple, Nvidia, Meta, Microsoft, Spectrum Wealth Management, Companies, FactSet, Research, Horizon Investments, Disney, Central, Republican Gov, Central Florida Tourism, Twin, University of Minnesota, CNN Locations: New York, China, Florida, Central Florida, Central Florida Tourism District, Orlando, Baltimore, Minneapolis, Mississippi, Twin Cities, Mighty Mississippi, Minnesota

☆ Truth Social owner Trump Media will begin trading Tuesday as the merger closes
▼ + stars: | 2024-03-25 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —Truth Social owner Trump Media & Technology Group announced Monday its merger with a publicly traded shell company has closed and trading will begin on the stock market on Tuesday. Trading of the new company under the ticker symbol “DJT” on the Nasdaq Stock Market is set to begin on Tuesday, the companies said. Shares of Digital World Acquisition Corp (DWAC), the shell company that now owns Truth Social, surged more than 20% on Monday. Experts warn that the market is overvaluing Trump Media given the company’s fundamentals. Trump Media generated just $3.4 million of revenue through the first nine months of last year, according to SEC filings.

Persons: Donald Trump, Devin Nunes, ”, ” Nunes, CNN’s Elisabeth Buchwald, Krystal Hur Organizations: New, New York CNN, Truth, Trump Media & Technology Group, Trump Media, Corp, Nasdaq, Digital, Trump, Big Tech, overvaluing Trump Media, SEC, Twitter, CNN, AMC Entertainment, GameStop Locations: New York

☆ From Wall Street to Chicago, why stock exchanges ring bells
▼ + stars: | 2024-03-16 | by ( Krystal Hur | ) edition.cnn.com time to read: +9 min

New York CNN —The New York Stock Exchange opens every workday morning at 9:30 am ET with the fast-paced bang-clang of a gleaming brass bell. The stock exchange, the largest in the world by market capitalization, has opened with sonic fanfare for more than 150 years. From Wall Street to the Nasdaq Exchange in Times Square to the Chicago Board Options Exchange, loud, ringing bells bookend each trading session. Stock exchanges say that the bell ringing remains both a critical guide and a ceremony that celebrates the market’s resilience through devastating lows and exuberant highs. The stock exchange had been closed since two hijacked commercial airliners were deliberately crashed into the World Trade Center's twin towers on September 11.

Persons: there’s, ”, Peter Asch, Reagan, Ronald Reagan, Serena Williams, Nelson Mandela, Richard Grasso, Henny Ray Abrams, David Howson, Scott Olson, Howson, Mark McCooey, Morgan Stanley, ” McCooey, Karen Snow, Brendan McDermid, Barbie, Barbie ”, “, Chris Hondros, Trudi Wagner, Wagner, Ronald Moser, Wagner That’s, Goldman Sachs, ” Wagner Organizations: New, New York CNN, The New York Stock Exchange, Nasdaq Exchange, Exchange, New York Stock Exchange, Jersey Shore, NYSE, Former South African, Getty, Cboe, yanks, Nasdaq, Microsoft, UN, United Nations, Bell, Warner Bros, Warner Bros ., World Trade Center, Trade Center, United, New York Stock, Trade, Dow Jones Locations: New York, Chicago, Jersey, Asch, AFP, York, Chicago , Illinois, New York City, America, United States, New Jersey, Manhattan, Charleston , South Carolina

☆ Gold, bitcoin and stocks hit record highs this week. Then came inflation data
▼ + stars: | 2024-03-15 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

The S&P 500 declined 0.7% and the Nasdaq Composite fell 1%. Turbulence for airline stocksAirline stocks have also been pummeled this week, as years of safety issues at Boeing continue to plague the industry. The NYSE Arca Global Airline index, which tracks the performance of major American and overseas airlines, is on track to end the week 2.2% lower. But Liz Young, head of investment strategy at SoFi, notes that the S&P 500 hasn’t seen a one-day decline of 2% or more since last February. AI up-and-comer Super Micro Computer will join the benchmark S&P 500 index on Monday.

Persons: New York CNN — Stocks, shrugged, Gold, Bitcoin, Dow, Price, ”, Ken Tjonasam, Max, Robert Jordan, Liz Young, Young, “ It’s, What’s, Jensen Huang Organizations: New, New York CNN —, Federal Reserve, Nasdaq, Dow, Global, Airline, Boeing, Latam, Wall, Southwest Airlines, Airbus, “ Boeing, ”, JPMorgan Chase, NYSE Arca, Nvidia, Computer, Investors, Federal, Market Committee, Fed, National Association of Home Builders, Census Bureau, National Association of Realtors Locations: New York, Australia, New Zealand, Wells Fargo

☆ Premarket stocks: Investors are on cloud nine. That could be a bad sign
▼ + stars: | 2024-03-15 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

Unsurprisingly, several flashing indicators suggest that investors are feeling good about the market:• CNN’s Fear & Greed Index: The indicator, which measures seven barometers of market sentiment including the VIX, Wall Street’s most well-known measure of expected stock volatility, is in “greed” territory. Market sentiment is often seen as a contrarian indicator. That means that when the herd is optimistic, money managers take it as a sign that stocks will fall, and vice versa. A closely watched gauge of US wholesale inflation rose at its fastest pace in months, according to new data released Thursday. In February, car sales climbed 1.8%, purchases of electronics and appliances increased 1.5% and sales at restaurants rose 0.4%.

Persons: • Charles Schwab, Yardeni, “, Alicia Wallace, Price, Gus Faucher, Read, Bryan Mena Organizations: CNN Business, Bell, New York CNN, Dow Jones, Nasdaq, Intelligence, Research, Bureau of Labor Statistics, PPI, of Labor Statistics, PNC Financial Services, Retail, Commerce Department, Gas Locations: New York

☆ Premarket stocks: This investor predicted the dot-com bust. He thinks AI is a bubble that will ‘deflate’
▼ + stars: | 2024-03-14 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York (CNN) — Is the artificial intelligence boom on Wall Street a bubble primed to burst or the real deal? That’s the question investors have wrestled with since the Magnificent Seven tech stocks began turbocharging a powerful market rally last year. “A new bubble within a bubble like this, even one limited to a handful of stocks, is totally unprecedented,” he wrote in a Monday blog post. “The long-run prospects for the broad US stock market here look as poor as almost any other time in history,” he wrote. Still, the notorious market bear sees some areas of opportunity in the stock market.

Persons: —, Jeremy Grantham, ”, Grantham, Granthan, “, Hanna Ziady, Abu, Adnoc, NewMed Energy’s, Gan, Marc Stewart, Wayne Chang, ByteDance, ” Wang Wenbin, Wang Organizations: CNN Business, Bell, CNN, ” Tech, Monster, Nvidia, Boston, Federal Reserve, ChatGPT, BP, UAE, United Arab Emirates, NewMed Energy, Energy, Starbucks, McDonald’s, KFC, CNN Wednesday Locations: New York, Grantham, Israel, Gaza, Tel Aviv, China, America, American, Beijing

☆ Premarket stocks: Why another unexpectedly hot jobs report could derail markets
▼ + stars: | 2024-03-08 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —Wall Street was taken aback by the US labor market’s resilience in January. Another unexpectedly hot report could shake things up again. The January jobs report showed that the US economy added a stunning 353,000 jobs that month and the unemployment rate stayed at 3.7%. The new EU regulations force sweeping changes on some of the world’s most widely used tech products, including Apple’s app store, Google search and messaging platforms, including Meta’s WhatsApp. The broad obligations apply only to the EU, which could leave tech users in the United States and other markets looking longingly at some of the features Big Tech is rolling out in response to the European directive.

Persons: Jerome Powell, he’s, “, ” Powell, Bonnie Cash, —, ’ ”, BeiChen Lin, It’s, Loretta Mester, ”, José Torres, Meta’s, Brian Fung, Apple, Bing, Read, Elisabeth Buchwald, NYCB, Steven Mnuchin’s, Alessandro DiNello, ” Read Organizations: CNN Business, Bell, New York CNN, Federal, Financial, Capitol, Reuters, Traders, Russell Investments, ” Cleveland Federal, CNBC, Market, Interactive Brokers, Apple, Google, Union citizens, Big Tech, New York Community Bank, Silicon Valley Bank, Liberty Strategic Capital Locations: New York, Washington ,, United States, NYCB, Silicon

☆ Premarket: Investors are obsessed with this AI stock you may never have heard of
▼ + stars: | 2024-03-07 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Nvidia isn’t the only stock capturing the attention of AI enthusiasts these days. Nvidia closed above a $2 trillion market cap on March 1, joining an elite cohort including Apple and Microsoft. Supermicro’s stock gained even more momentum in January, after the company reported second-quarter results that blew past expectations and raised its full-year revenue forecast. Supermicro’s stock was one of the most popular names bought by Charles Schwab clients in February, according to the firm’s latest trading activity index. New York Community Bank gets $1 billion ‘lifeline’Beleaguered regional lender New York Community Bank is receiving a more than $1 billion equity investment, reports my colleague Elisabeth Buchwald.

Persons: Charles Schwab, ChatGPT, “, ”, Supermicro, Wells Fargo, Goldman Sachs, Elisabeth Buchwald, Steven Mnuchin’s, NYCB, ” David Chiaverini, Joseph Otting, Alessandro DiNello, DiNello, Read, Jeremy Hunt, Hanna Ziady, Hunt, ” Hunt, Rishi Sunak’s Organizations: CNN Business, Bell, New York CNN, Nvidia, Apple, Microsoft, Micro, Devices, Federal Reserve, Victoria Bills, Banrion Capital Management, Bank of America, Goldman, New York Community Bank, New, Community Bank, Liberty Strategic Capital, Citadel Global, Street Journal, Wedbush Securities, CNN, Bank of England, International Monetary Fund, Hunt’s Conservative Party, Labour Party Locations: New York, San Jose, United States, Hudson Bay, NYCB

☆ Premarket stocks: Fed Chair Powell is about to get grilled by Congress. Here’s what markets want to hear
▼ + stars: | 2024-03-06 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Fed Chair Jerome Powell has a chance to provide more insight when he testifies before Congress on Wednesday and Thursday. Those reports pushed back market bets on when the Fed will start cutting interest rates. Investors will closely listen for any hints from Powell about what the Fed is looking for, data-wise, before it begins to lower interest rates. Powell will also be asked about the economic pain Americans are feeling as a result of elevated inflation and interest rates. When interest rates fall, holding income-paying assets (like bonds) becomes less appealing than owning the precious metal.

Persons: Jerome Powell, there’s, ”, Powell, —, Emanuel Cleaver, Dave Sekera, Claudia Sahm, ” Powell, Krystal Hur, Samantha Murphy Kelly, “, ” Mengmeng Zhang Organizations: CNN Business, Bell, New York CNN, Federal, Investors, Missouri Democrat, Politico, Morningstar, Morningstar . New York Community Bank, Fitch, Moody’s Investors Service, Federal Reserve, Costco, Apple, Counterpoint Research, Huawei, Counterpoint Locations: New York, Missouri, Morningstar ., China

☆ Dow tumbles more than 400 points as tech woes rattle Wall Street
▼ + stars: | 2024-03-05 | by ( Krystal Hur | ) edition.cnn.com time to read: +1 min

New York CNN —Stocks tumbled Tuesday with tech stocks leading the way, continuing to retreat from record highs set last week. The Dow fell 405 points, or 1%, after declining more than 500 points at its session lows. The S&P 500 slipped 1% and the Nasdaq Composite slid 1.7%. That comes after the Nasdaq Composite last week reached a new all-time high for the first time since 2021, while the S&P 500 also surged to a new record high. Other tech stocks fell.

Persons: Stocks, Dow Organizations: New, New York CNN, Nasdaq, Apple, Research, Bloomberg, Meta, Microsoft, Micron Technologies Locations: New York, China

☆ Gold just jumped to a record high. Here’s why
▼ + stars: | 2024-03-05 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

New York CNN —Gold rose Tuesday after notching a record high the prior day, as investors continue to bet the Federal Reserve will cut rates in the back half of the year. The yellow metal was up about 0.4% on Tuesday morning, stabilizing somewhat after settling at an all-time high of $2,126.30 a troy ounce on Monday. However, some investors also believe gold to be a hedge against inflation, wagering that it will hold its value even if it begins to surge. The Personal Consumption Expenditures price index, the Fed’s preferred inflation gauge, rose 2.4% for the 12 months ended in January. The milestones for both bitcoin and gold come as stocks continue to rally powerfully.

Persons: That’s, Jerome Organizations: New, New York CNN, Federal Reserve, Commerce Department, Investors, Fed, Nasdaq Locations: New York, December’s

☆ Apple iPhones sales fall 24% in China amid competition and headwinds
▼ + stars: | 2024-03-05 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +3 min

Analysts from Counterpoint Research said the overall mobile market in China fell by 7% with companies including Apple, Oppo and Vivo experiencing declines. Customers that once would have considered Apple are now turning to national brands, particularly Huawei, Counterpoint said. The stock has fallen about 11.6% this year on concerns about weakening sales, particularly in China. China remains a very important market for Apple as it is the largest market behind the US. “Apple, to its credit, ended the year at number one, which was extraordinary despite headwinds from China,” he said.

Persons: “, ” Mengmeng Zhang, Huawei’s, they’ve, Jeff Fieldhack, Apple, ”, Fieldhack, CNN’s Krystal Hur Organizations: CNN, Apple, Counterpoint Research, Huawei, Counterpoint Locations: China, United States

☆ Premarket stocks: Retailers warn Wall Street to expect less shopping this year
▼ + stars: | 2024-03-01 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Lowe’s: The home improvement giant projected total sales of $84 billion to $85 billion for 2024 in fourth-quarter results reported on Tuesday. Mortgage rates edge closer to 7%, dampening start of spring homebuying seasonUS mortgage rates climbed for the fourth week in a row, inching closer to 7% just as peak homebuying season gets underway, reports my colleague Anna Bahney. “Mortgage rates continued their ascent this week, reaching a two-month high and flirting with 7% yet again,” said Sam Khater, Freddie Mac’s chief economist, in a statement. Since reaching a 20-year high of 7.79% in October, mortgage rates have been slowly falling. But in recent weeks, as the market absorbs expectations that the Federal Reserve will not cut its benchmark lending rate until later this year, mortgage rates have trended higher.

Persons: they’re, ”, Marvin Ellison, Macy’s, Tony Spring, Corie Barry, ’, ” Barry, Diksha Madhok, Hanna Ziady, “, Thamashi De Silva, Knight Frank, Read, Anna Bahney, Freddie Mac, Sam Khater, Freddie Mac’s, Khater Organizations: CNN Business, Bell, New York CNN — Companies, Federal Reserve, Commerce Department, United States’s, Gross, Capital Economics, “ Locations: New York, That’s, India

☆ Stocks hate this one weird trick from the calendar
▼ + stars: | 2024-02-29 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

New York CNN —Leap Day might seem like fun and games — until you consider Wall Street. To account for that gap, Julius Caesar in 45 BC decreed that an extra day be added every four years, leading to the Julian calendar. Pope Gregory XIII in 1582 AD created the Gregorian calendar, coined the term “leap year” and established February 29 as the official leap day. He adds that a leap day can also help marginally raise corporate earnings, since companies get an extra day in a fiscal quarter to operate. History shows that stocks tend to perform worse when an additional day is added to the calendar.

Persons: Julius Caesar, Pope Gregory XIII, Matt Weller, Weller, Dow, ”, “ Barbie ”, “ Oppenheimer, ’, Samantha Delouya, It’s, Read, Sam’s, Sam, Matt Egan, Banks Organizations: CNN Business, Bell, New York CNN, Dow Jones, Bulls, Research, AMC Entertainment, AMC, Treasury Department, CNN, Treasury Locations: New York, FOREX.com

☆ Dude, you’re not getting a Dell. So why is its stock soaring?
▼ + stars: | 2024-02-29 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —It’s not a good time to be selling PCs — Dell has been grappling with sinking demand for the past few years. But its stock still shot up 20% in after-hours trading after the company excited investors about the tech industry’s favorite buzzwords: artificial intelligence. Dell revenue declined 11% in the fourth quarter. Still, the Texas-based firm noted demand for powerful servers to run AI workloads surged in the last three months. Dell Technologies shares, which reached a record high close to cap Thursday’s trading session, rose almost 20% in after-hours trading.

Persons: New York CNN — It’s, Dell, workloads, “ We’ve, Jeff Clarke, Gartner, ” Clarke, CNN’s Krystal Hur Organizations: New, New York CNN, Dell, Dell Technologies, Nvidia Locations: New York, Texas

☆ Texas man eavesdropping on wife’s phone calls faces criminal charges — and divorce — after $1.76 million insider trading plot
▼ + stars: | 2024-02-26 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

New York CNN —A Texas man is facing insider trading charges and jail time after he used information gleaned from eavesdropping on his wife’s work-from-home calls, netting him $1.76 million from an upcoming oil industry acquisition. Loudon purchased 46,450 shares of TravelCenters stock after learning of the impending merger, according to an SEC filing. When the share price popped 71% following the announcement, he sold all of his shares, raking in more than $1.76 million. The SEC’s complaint, filed in the US District Court for the Southern District of Texas, charges Loudon with violating the antifraud components of federal securities laws. She reported the trading to her supervisor and was later terminated from the company, according to the filing.

Persons: New York CNN —, Tyler Loudon, “, Loudon, ”, Eric Werner, “ Mr, Peter Zeidenberg, Roth Organizations: New, New York CNN, The Securities, Exchange Commission, SEC, Fort, Court, Southern, Southern District of, US, Office, CNN Locations: New York, Texas, Houston, Fort Worth, Southern District, Southern District of Texas

☆ Everyday investors are feeling good about the market again
▼ + stars: | 2024-02-23 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Retail investors are optimistic about the stock market again despite a backdrop of geopolitical and economic uncertainty. CNN’s Fear & Greed Index, which measures seven barometers of market sentiment, closed at an “extreme greed” reading on Thursday. Unsurprisingly, investors are largely bullish on artificial intelligence-related stocks over the next three months, according to the Schwab survey. The job market has also stayed remarkably strong even as interest rates hover around a 23-year high, helping keep recession worries at bay. About 48% of traders believe the US will likely avoid a recession this year, up from 23% last quarter, according to the Schwab survey.

Persons: Charles Schwab, Schwab, ”, James Kostulias, stoking, Anna Bahney, —, Lawrence Yun, Read, Henri Nestlé, Wegovy, Hanna Ziady, Mark Schneider, ” Read Organizations: CNN Business, Bell, New York CNN, Retail, “, Dow Jones, Bureau of Labor Statistics, Federal, National Association of Realtors, NAR Locations: New York, United Kingdom, Japan, Washington, Swiss

☆ Nvidia’s market value catapults to $2 trillion
▼ + stars: | 2024-02-23 | by ( Krystal Hur | ) edition.cnn.com time to read: +1 min

New York CNN —Nvidia joined an exclusive club on Friday morning when its market value topped $2 trillion, just days after the chipmaker reported gangbusters earnings that once again swept Wall Street into an artificial intelligence-induced fervor. Nvidia’s latest achievement comes after the company earlier this month surpassed Amazon and Alphabet in market value and become the third-largest company on Wall Street behind Microsoft and Apple. The company hit a $1 trillion market cap in 2023, about 24 years after going public. Its meteoric growth over the past year came as artificial intelligence mania consumed Wall Street and helped power a ferocious bull market. Nvidia has emerged the poster child of AI on Wall Street, in part because it is crucial to the burgeoning AI space.

Persons: Howard Silverblatt, Dow, — CNN’s Clare Duffy Organizations: New, New York CNN, Nvidia, Dow Jones, Apple, Microsoft, Wall Street Locations: New York

☆ Premarket stocks: Could the Federal Reserve rule out rate cuts in 2024?
▼ + stars: | 2024-02-22 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Now, some are wondering if the central bank might not cut rates at all in 2024. He expects the central bank to cut rates two to four times this year. Plus, there’s no official indication that the central bank won’t cut rates this year. • If the neutral interest rate, or the rate that maintains full employment and stable inflation, is revised upward closer to 3.5%. The neutral rate should be 2.5%, based on Fed officials’ estimates for the central bank’s key interest rate, inflation and unemployment.

Persons: stoked, Stocks, won’t pare, ”, Tom Graff, Jerome Powell, Oliver Darcy, “, Eddy, Apple’s, Read, Here’s what’s, Chris Isidore Organizations: CNN Business, Bell, New York CNN —, Federal Reserve, Deutsche Bank, Fed, Deutsche Bank economists, ” Apple, Wednesday, Apple Sports, NBA, NHL, MLS, NCAA, NFL, MLB, ESPN, Labor Department, Bureau of Labor Statistics, SAG Locations: New York, America

☆ Why oil prices aren’t soaring despite Middle East uncertainty
▼ + stars: | 2024-02-16 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Oil prices spiked last month following US-led strikes on Houthi targets in Yemen in response to repeated attacks on commercial ships in the Red Sea. One factor that could be keeping the cap on oil prices is waning demand. “Global oil demand growth is losing momentum,” said the agency in its February report. While global oil demand growth is slowing, supply has stayed relatively strong, potentially putting further downward pressure on oil prices. “Higher global oil supply this year, led by the United States, Brazil, Guyana and Canada, should more than eclipse the expected rise in world oil demand,” said the report.

Persons: Bell, ”, Donald Trump, Matt Egan, —, Trump, Jay Ritter, Read, Anna Bahney, Freddie Mac, Sam Khater, Freddie Mac’s, Khater, Bob Broeksmit Organizations: CNN Business, Bell, New, New York CNN, West Texas, Brent, International Energy Agency, “, shuttering, Federal, US, United Arab Emirates, White, Wall, Trump, Truth Social, Trump Media & Technology Group, Securities and Exchange, Trump Media, SEC, University of Florida, Mortgage Bankers Association Locations: New York, Russia, Ukraine, Yemen, Red, United Kingdom, Japan, Germany, Iraq, United States, Brazil, Guyana, Canada

Search resuls for: "Krystal Hur"

25 mentions found