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CNBC Daily Open: Oil soars on Middle-East tensions
  + stars: | 2024-08-13 | by ( Abid Ali | ) www.cnbc.com   time to read: 1 min
In this article ADANITRANS-INSBUX@TY.1.DJI.IXIC Follow your favorite stocks CREATE FREE ACCOUNTTraders work on the floor of the New York Stock Exchange during morning trading on May 31, 2024 in New York City. Michael M. Santiago | 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. What you need to know todayGet the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are. SubscribeThe bottom line
Persons: Michael M Organizations: New York Stock Exchange, Santiago, CNBC Locations: New York City
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 8, 2024. Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox. Here's what CNBC TV's producers were watching during the rebound and what's on the radar for the next session. Weekly mortgage applicationsChipotle
Organizations: New York Stock Exchange, CNBC Locations: New York City, U.S
The buzz around artificial intelligence may have quietened after a volatile week for some of the sector's biggest names, but Morgan Stanley continues to see promise in a raft of European stocks. Morgan Stanley's "European AI shopping list" includes names ranging from semiconductor equipment and data center plays to software and healthcare companies. Morgan Stanley has a target price of 1,000 euros ($1,092) on the stock, giving it over 27.5% potential upside. Segro Morgan Stanley describes British REIT Segro as the "landlord of Europe's largest cluster of data centers." Morgan Stanley has a target price of 224 euros on the stock, giving it around 18.3% upside potential.
Persons: Morgan Stanley, Morgan Stanley's, ASML Morgan Stanley, Lee Simpson, ASML's, Simpson, Segro Morgan Stanley, Segro, Bart Gysens, SAP Morgan Stanley, Adam Wood, Merck KGaA, Morgan, Thibault Boutherin, Boutherin, — CNBC's Michael Bloom Organizations: Apple, Euronext, Nasdaq, London Stock Exchange, Euronext Paris, American Depository, SAP, Frankfurt Stock Exchange, New York Stock Exchange, Merck, EMD Group, Canada, Merck KGaA's Electronics Locations: Europe, TSMC, Euronext Amsterdam, U.S, United States, Frankfurt
watch nowEconomists have said it is difficult to accurately assess the scale of the yen carry trade, with estimates varying widely. Some analysts, using Japan's foreign portfolio investments, say the yen carry trade could total as much as $4 trillion, Reuters reported. "The real Japan strategy is not just a quick carry trade, borrowing at close to zero interest rates in Japan and investing in high yield assets. Analysts at Barclays said systematic selling pressure does not appear to have been exhausted yet and it's "too early" to call an all-clear to the carry trades unwind. We expect volatility to remain elevated, which should continue to hurt EM carry trades," the analysts at Barclays said in a research note published Sunday.
Persons: Kazuhiro Nogi, Richard Kelly, he'd, Kelly, CNBC's, Nogi, Jesper Koll, Koll, What's Organizations: Tokyo Stock Exchange, Afp, Getty, Bank of Japan, TD Securities, Reuters, TS Lombard, Bank of, The Bank of Japan, Federal Reserve, Monex, Barclays Locations: Tokyo, Japan, MEX, Brazil, Bank of Japan, U.S
Opening Bell: August 13, 2024
  + stars: | 2024-08-13 | 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 EmailOpening Bell: August 13, 2024Watch the opening bell for the New York Stock Exchange and the Nasdaq from August 13, 2024
Organizations: New York Stock Exchange, Nasdaq
Traders work on the floor of the New York Stock Exchange during afternoon trading on July 26, 2024. Stocks have endured a brutal stretch, with the Nasdaq now flirting with correction territory since reaching an all-time high on July 10. Even so, a long-awaited rotation out of tech and into small caps — a trend that kicked off a few weeks ago — could still have legs. While all indexes have taken a beating in recent trading sessions, the Russell 2000 had shown signs of life before the so-called carry trade and worries about the U.S. economy disrupted its best run in years. What that means for youTwo things need to happen for small caps to regain momentum.
Persons: Stocks, Russell, Harris, Kamala Harris Organizations: New York Stock Exchange, Nasdaq, Finance, Federal Reserve Locations: U.S
Management blamed "higher interest rates and greater macroeconomic uncertainty" for pressuring consumer spending on home improvement projects. The recent data certainly supports the idea of a rate cut at the Fed's mid-September meeting. However, that's weeks away, we know things can turn on a dime in the data and the stock market. Lower rates can certainly impact the stock market — but when it comes to picking individual stocks, we remain focused on earnings. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Thursday's, Stanley Black, Decker, Stifel, bode, Russell, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, PPI, Management, Dow, Home Depot, Trade, Costco, Depot, CNBC, New York Stock Exchange, Getty Locations: U.S, New York City
Traders work on the floor of the New York Stock Exchange during morning trading on May 31, 2024 in New York City. 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. Asia markets climb higherAsia-Pacific markets were mostly higher on Monday ahead of U.S. economic data later in the week. [PRO] Distinct marketWhile U.S. and Japanese indexes fell sharply amid recent volatility, the MSCI China index rose slightly, reinforcing China's distinct market status despite slower growth.
Persons: Disney, Indiana Jones, Donald Trump, Sen, Elizabeth Warren, Elon Musk, Elon Musk's, Warren, Tesla, Robyn Denholm, Musk, Hai Precision Industry —, , Australia's, Hong Organizations: New York Stock Exchange, CNBC, Wall, Dow Jones, Nasdaq, Magic, Hollywood, Inc, Animal Kingdom, Trump, Trump Media, SpaceX, Twitter, Hai Precision Industry, SK Hynix, China's CSI, U.S Locations: New York City, U.S, Magic Kingdom, Disney's California, Friday's, Asia, Pacific, Taiwan, Australian, China
Opening Bell: August 12, 2024
  + stars: | 2024-08-12 | 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 EmailOpening Bell: August 12, 2024Watch the opening bell for the New York Stock Exchange and the Nasdaq from August 12, 2024
Organizations: New York Stock Exchange, Nasdaq
In a note on Aug. 7, Goldman's analysts revealed a number of top picks, including three buy-rated Japanese stocks with over 40% upside potential over the next 12 months. Year-to-date, Asics shares are up 99.5%. Goldman has a target price of 3,100 Japanese Yen ($21.07) on the stock, giving it around 50% upside potential at the time of the note. Goldman has a target price of 6,900 Japanese Yen on the stock, or 37% potential upside. Goldman has a target price of 4,850 Japanese Yen on the stock, giving it around 54% upside potential at the time of the bank's note.
Persons: Goldman Sachs, U.S . Asics Corporation Goldman, Sho Kawano, Asics, Goldman, Suntory Beverage & Food Goldman, Takashi Miyazaki, Miyazaki, Ryo Harada, — CNBC's Michael Bloom Organizations: Nikkei, Tokyo Stock Exchange, U.S . Asics Corporation, Asics Corp, Suntory Beverage & Food, Asia Pacific, Suntory, Yen, Hitachi Locations: U.S, Japan, Europe, Asia
Looking back, quarterly earnings also played a key role in big stock moves for the portfolio. Looking ahead, we'll see an update on some key inflation data, plus a closer look at the state of the housing and retail sectors. ET: Producer Price Index Earnings: Home Depot (HD), Pandora (PANDY), Nu Holdings (NU), Sea Limited (SE) Wednesday, August 14 8:30 a.m. ET: Consumer Price Index Earnings: Tencent Holdings (TCEHY), Cisco (CSCO), UBS (UBS), JD.com (JD) Thursday, August 15 8:30 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Eli Lilly, Walt, Jim Cramer, we've, JD.com, Jim Cramer's, Jim, Spencer Platt Organizations: Dow Jones, Dow, Nasdaq, Walt Disney, Microsoft, Ford Motor, Wynn Resorts, DuPont, Devices, Procter, Gamble, Club, Abbott Laboratories, Federal, Traders, Sun Life, Nu Holdings, Sea, Tencent Holdings, Cisco, UBS, Philadelphia Fed, Walmart, Materials, Deere & Co, Ross Stores, Lenovo, Housing, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: U.S, Dover, Wells Fargo, Nextracker, Eaton
This week's violent global market meltdown started in Japan — where Warren Buffett has big investments — but the damage was limited. The Nikkei 225 index , a benchmark for Japanese stocks, plunged 12.4% on Monday, its worst day since "Black Monday" in 1987, triggering a domino effect globally. The stocks Buffett holds cratered as much as 30% initially, but bounced back by the end of the week along with the broader market. The Japanese trading houses also reported second-quarter earnings earlier this week, mostly exceeding analyst expectations and maintaining their full-year guidance. Away from Japan, Buffett was in a selling mood in the second quarter.
Persons: Warren Buffett, Buffett, Berkshire Hathaway, Buffett's, it's Organizations: Bank of Japan, Berkshire, Mitsubishi, Mitsui, Sumitomo —, Sumitomo, Tokyo Stock Exchange, Apple, Buffett Locations: Japan, Omaha, Berkshire
The S&P 500 advanced 0.47% to finish at 5,344.16. This week marked the most volatile week of 2024 for the market. The Dow on Monday tumbled 1,000 points, while the S&P 500 lost 3% for its worst day since 2022. At the Monday lows, the S&P 500 was down nearly 10% from its recent all-time high. It is not just equity markets that have had a volatile week.
Persons: Stocks, Spencer Platt, Jay Hatfield, ” Hatfield Organizations: Nasdaq, Dow Jones, Dow, Federal Reserve, New York Stock Exchange, Wall, Treasury, Capital Locations: U.S, unwind, Hatfield,
Stocks ticked up Friday as the stock market built on its incredible comeback from Monday's violent rout. The broad market index ended the week just shy of completely reversing its weekly losses. The S&P 500 advanced 0.47% to finish at 5,344.16. Week to date, the broad market index was just 0.04% lower. The Dow on Monday tumbled 1,000 points, while the S&P 500 lost 3% for its worst day since 2022.
Persons: Stocks Organizations: New York Stock Exchange, Nasdaq, Dow Jones, Dow, Federal Reserve
Opening Bell: August 6, 2024
  + stars: | 2024-08-06 | 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 EmailOpening Bell: August 6, 2024Watch the opening bell for the New York Stock Exchange and the Nasdaq from August 6, 2024
Organizations: New York Stock Exchange, Nasdaq
"Our biggest concern is that the market sell-off becomes a self-fulfilling prophecy causing corporate CEOs to cut back on investments and consumers to pull back on spending leading to further cuts and a recession," the analysts added. "In our view, the direct impact of these steep market declines is limited," they said in a note published Monday. Sustained market declines in the wake of the recent global sell-off could become a "self-fulfilling prophecy" that eventually leads to a recession, Morningstar DBRS analysts warned. The analysts also said that the impact of the market volatility on banks is likely to be limited, even if further market declines materialize, or if the U.S. enters a recession. There was also "no material impact" expected for capital management by banks in Japan, a region that also saw steep declines.
Persons: Morningstar, Nonfarm payrolls Organizations: New York Stock Exchange, Global, Japan's Nikkei, Tech, Federal Reserve, Morningstar, Congressional, U.S, Capital Locations: New York City, U.S, Japan
Reddit CEO Steve Huffman hugs mascot Snoo as Reddit begins trading on the New York Stock Exchange on March 21, 2024. Here are the key numbers:Loss per share: 6 cents vs. the loss of 33 cents expected by LSEG6 cents vs. the loss of 33 cents expected by LSEG Revenue: $281 million vs. $254 million expected by LSEGSales in the second quarter rose 54% from a year earlier. The company's net loss narrowed to $10.1 million from $41.1 million in the same quarter a year earlier. The company said its average revenue per user was $3.08 in the second quarter, topping analyst estimates of $3.02. This is Reddit's second quarterly earnings report since the company went public in March on the New York Stock Exchange.
Persons: Steve Huffman, Snoo, Reddit Organizations: New York Stock Exchange, LSEG Revenue, LSEG, Apple, Nvidia
The day's rout was sparked by a massive sell-off in Japanese stocks. The Nikkei fell 12.4%, its worst day since the 1987 "Black Monday" crash rattled investors around the world. Spencer Platt / Getty ImagesThe Japanese drawdown, in turn, was partly in response to the worse-than-expected jobs report published Friday that showed U.S. unemployment rising to 4.3% and just 114,000 jobs added in July. As soon as that report was published, stocks started erasing some of their earlier losses, while bond purchases, which had surged as investors sought safe-haven assets, faded. It’s a much easier decision to say I want to take my chips and go home here.”
Persons: Stocks, Spencer Platt, Apple, Warren Buffett's Berkshire Hathaway, , Michael Farr, Farr Organizations: Dow Jones, Nasdaq, Dow, Nikkei, New York Stock Exchange, Getty, Federal, Institute for Supply Management, Bank of Japan, U.S . Federal Reserve, Nvidia, Intel, Microsoft, Buffett, Miller & Washington Locations: New York City, U.S, Berkshire
LONDON — U.S. stocks are on course to open in the red Monday, with Japanese stocks suffering their worst day of trading since the 1980s and a global equities sell-off intensifying over fears of a U.S. economic slowdown. The Nikkei’s 12.4% fall marked the worst day for the Japanese index since 1987’s “Black Monday” — the sudden and unexpected stock market crash that raised fears of a depression. Noriko Hayashi / Bloomberg via Getty ImagesIn recent weeks, rising concerns around a potential U.S. recession have spooked investors. A rise in the value of the Japanese yen against the U.S. dollar — making Japanese assets more expensive for holders of other currencies — has also likely played a role in the selling. Even so, some investors put their money into U.S. Treasury bonds — so-called ‘haven’ assets that act as stores of wealth in volatile moments.
Persons: Noriko Hayashi, Japan’s, Shunichi Suzuki, , ” Suzuki, Organizations: LONDON, Dow Jones, Nasdaq, Tokyo Stock Exchange, Bloomberg, Getty, Federal Reserve, Labor, U.S ., Treasury Locations: U.S, Europe
Opening Bell: August 5, 2024
  + stars: | 2024-08-05 | 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 EmailOpening Bell: August 5, 2024Watch the opening bell for the New York Stock Exchange and the Nasdaq from August 5, 2024
Organizations: New York Stock Exchange, Nasdaq
A man looks at an electronic boarddisplaying stock prices of the Nikkei 225 listed on the Tokyo Stock Exchange in Tokyo on April 30, 2024. Kazuhiro Nogi | Afp | Getty ImagesInvestors on Monday turned to safe-haven assets as a global stock sell-off deepened, following weaker-than-expected U.S. jobs data at the end of last week. The disappointing jobs report spurred investor fears that the Federal Reserve made a mistake last week when it kept interest rates unchanged, and that the world's largest economy is headed toward a recession. The stock sell-off has also been exacerbated by volatility in some of the major earnings and a more hawkish Bank of Japan, which has led to speculation that the popular yen "carry trade" has imploded over a short-term basis. A "carry trade" takes place when investor borrows in a currency with low interest rates, such as the yen, and reinvests the proceeds in a currency with a higher rate of return.
Persons: Kazuhiro Nogi Organizations: Nikkei, Tokyo Stock Exchange, Afp, Getty, Federal Reserve, Bank of Japan Locations: Tokyo
Carry trades refer to operations wherein an investor borrows in a currency with low interest rates, such as the Japanese yen, and reinvests the proceeds in higher-yielding assets elsewhere. "You can't unwind the biggest carry trade the world has ever seen without breaking a few heads. A change in Japanese monetary policy prompted one strategist to warn of the "implosion" of the yen carry trade over a short-term basis. watch nowEd Rogers of Rogers Investment Advisors said the yen carry trade isn't dead yet, despite the deepening stock market sell-off. "Certainly there is going to be some momentary panic, I think, about the yen carry trade.
Persons: Richard A, Brooks, Kit Juckes, Juckes, Russell Napier, Ed Rogers, Rogers, CNBC's Organizations: Tokyo Stock Exchange, Afp, Getty, Swiss, Societe Generale, U.S, Bank of Japan, Rogers Investment Advisors Locations: Tokyo, London
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. The Nasdaq Composite dropped 2.43% and is now in correction territory, having declined more than 10% from its recent high. The unemployment rate rose to 4.3%, the highest since October 2021 when the global economy was still reeling from the Covid-19 pandemic. The stocks had to pass several criteria, including receiving five or more earnings upgrades in the past three months.
Persons: Warren Buffett Organizations: New York Stock Exchange, CNBC, Dow Jones Industrial, Nasdaq, Treasury, Federal, Berkshire Hathaway's, Apple . Berkshire, Exxon, Chevron, CNBC Pro Locations: New York City, Apple ., Berkshire, Guyana, U.S, San Ramon , California, Houston , Texas
As U.S. markets opened for trading on Monday, tech's mega-cap companies lost about $1 trillion in market cap, deepening a downturn that sent the Nasdaq into correction territory last week. Nvidia shed more than $300 billion in market cap at the opening bell, though it quickly recovered about half of its loss. The company surpassed $3 trillion in market cap and briefly passed Microsoft and Apple to become the world's most valuable company. Its market cap now sits below $2.5 trillion. A widely-read Goldman Sachs note from June warned that the biggest-spending companies had little to show for their AI expenditures.
Persons: Bitcoin, It's, Mark Zuckerberg, Sundar Pichai, Goldman Sachs Organizations: New York Stock Exchange, Nasdaq, Nvidia, Apple, Microsoft, Nikkei, Google, Elliott Management Locations: U.S, Meta, cryptocurrency
S&P 500 futures bounced in overnight trading after the broad index notched its worst day in nearly two years as global markets sold off. Futures tied to the S&P 500 rose 0.9%, while Nasdaq 100 futures rallied 1.2%. The 30-stock Dow dropped 1,033.99 points, or 2.6%, while the S&P 500 slid 3%. These fears spilled over into global markets, with Japan's Nikkei 225 index registering its worst daily decline since Black Monday in 1987. The Dow, S&P 500 and Nasdaq are down 5%, 6% and 8% respectively in three days, their worst 3-day performance in more than two years.
Persons: Dow, Quincy Krosby, LPL, Tesla, It's, Keith Lerner, Truist's Organizations: New York Stock Exchange, Futures, Nasdaq, Dow Jones Industrial, Federal Reserve, Japan's Nikkei, Treasury, Bank of Japan, Nvidia, Apple, VanEck Semiconductor, Traders, Palantir Technologies, Lucid Group Locations: New York City
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