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(This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for Pro subscribers. Worldwide Exchange airs at 5 a.m. Worldwide Exchange Word of the Day: "Dissent" Jay Woods of Freedom Capital Markets said he's paying close attention to Fed Governor Michelle Bowman becoming the first dissenting Fed Governor since 2005. "I think this is the return of the cyclical trade," said Shah on Worldwide Exchange. Worldwide Exchange Pick: FedEx and Transports FedEx reports after the bell Thursday.
Persons: Jay Woods, Michelle Bowman, Seema Shah, Woods Organizations: Pro, Worldwide, Federal Reserve, Freedom Capital Markets, Management, FedEx, Transports FedEx, Dow
Chief investment strategist Brian Belski lifted his year-end target for the broad index by 500 points to 6,100. That new forecast implies the S & P 500 can climb 8.6% from Wednesday's close. .SPX YTD mountain S & P 500 YTD Belski said his update came after yet another rebound in equities pushed the index to trade around his prior target. Even if the S & P 500 tests lows seen during September's choppy trading, the investing strategist said he remains confident that it can rise into year-end. The S & P 500 has climbed more than 19% in 2024.
Persons: Brian Belski, It's, Belski, What's Organizations: BMO, CNBC, Federal Reserve Locations: Wednesday's, U.S
2024 Laver Cup countdown and the business of pro tennis
  + stars: | 2024-09-19 | 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 Email2024 Laver Cup countdown and the business of pro tennisTony Godsick, Laver Cup chairman and Team8 CEO, and John McEnroe, Team World captain, join 'Squawk Box' to discuss the 2024 Laver Cup, the business of pro tennis, and more.
Persons: Tony Godsick, John McEnroe Organizations: Laver, Team
Forty-one percent of analysts polled by FactSet have a buy rating on Tesla stock, while 21% have a sell rating. About 43% of analysts surveyed by FactSet maintain a buy rating on IBM stock, but 21% are at a sell. He also noted that the risk-to-reward skew on IBM stock is more balanced, leaving less upside for the stock. IBM YTD mountain IBM stock. Goldman Sachs recently added IBM to its conviction list with a $220 price target, or 2% above where shares closed Wednesday.
Persons: Tesla, TSLA, Wolfe Research's Emmanuel Rosner, Rosner, Morgan Stanley, Adam Jonas, Jonas, Elon Musk, Bernstein's Toni Sacconaghi, Sacconaghi, Goldman Sachs, Jim Schneider, Campbell Soup Organizations: CNBC Pro, FactSet, U.S, automakers, IBM, Pepperidge
The WNBA has enjoyed some of the fastest growth a sports league has ever seen, thanks in large part to superstar rookies Caitlin Clark and Angel Reese. But top WNBA players don't yet have the lofty salaries to match. Once the WNBA season is over, Jones plays a second season in Europe, mainly to complement her salary. The money is allocated from the $75 million the WNBA raised in 2022 from a group of investors. Though the WNBA's success has not yet led to the massive salaries seen in men's pro sports, many in the league believe it's only a matter of time.
Persons: Caitlin Clark, Angel Reese, they've, Sportico's, Cathy Engelbert, Brionna Jones, A'ja Wilson, Breanna Stewart, Jones, I'm, Engelbert, Stephanie White, It's, we've Organizations: WNBA, Las Vegas Aces, Seattle Storm, New York Liberty, Disney, Amazon Prime, NBA, Connecticut Sun, The Washington Post, CBA Locations: Europe, The Washington
"Ultimately shirking fiduciary responsibility to employees, consumers, and shareholders." Twenty civil rights organizations sent a letter Thursday to Fortune 1000 companies calling for them to recommit to diversity, equity and inclusion, after several major companies scaled back their efforts. She emphasized that LGBTQ+ consumers have $1.4 trillion of buying power, as reported by the National LGBT Chamber of Commerce. But a small, well-funded, and extreme group of right-wing activists is attempting to pressure companies into abandoning their DEI programs. Abandoning DEI will have long-term consequences on business success -- ultimately shirking fiduciary responsibility to employees, consumers, and shareholders.
Persons: Bill Ackman, Molson Coors, Harley Davidson, George Floyd, Forman, Kelley Robinson, CNBC's, Robinson, Brown, Lowe's, John Deere, Harley, Davidson, Edelman Organizations: National Action Network, Molson, Ford, Tractor Supply, Human Rights, HRC, Brown, National LGBT Chamber of Commerce, Molson Coors, . Tractor Supply, Companies, McKinsey & Company, Pew Locations: New York City, Rural, United States
Investors looking to participate in a new growth phase for electricity demand by purchasing the Utilities Select Sector SPDR ETF (XLU) might be discouraged by its massive run over the past year. We'll review a way to play it with options that adds a buffer of protection. XLU .SPX mountain 2023-10-23 Utilities Select Sector SPDR Fund since October low Despite this strong performance, the utilities select sector index still trades at just over 19 times forward earnings, a much cheaper multiple than the S & P's 23.5 times, and typically trades with significantly lower volatility as well. Spurring the economy will likely increase demand, but lowering rates improves the relative attractiveness of utilities for fixed-income investors as well. The trade XLU has an annual dividend yield of 2.8% and would make a fine addition to one's portfolio.
Persons: EVs Organizations: Utilities, Fund, CNBC, NBC UNIVERSAL Locations: U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPRO: Watch CNBC's full discussion with the 'Closing Bell' market panelCameron Dawson, New Edge Wealth, Courtney Garcia, Payne Capital Management, and Joe Terranova, Virtus Investment Partners, join 'Closing Bell' to discuss the latest news affecting markets.
Persons: Cameron Dawson, Courtney Garcia, Joe Terranova Organizations: New Edge, Payne Capital Management, Virtus Investment Partners
The Teamsters on Wednesday declined to endorse a candidate for president, the first time in decades that the union hasn't backed a candidate in the presidential election. It found that almost 60% of rank-and-file union members preferred to endorse Trump, while 34% backed Harris, according to an electronic member poll. The law forced union workers to accept a union contract that had been brokered by the Biden administration. The union endorsed Biden in 2020. The AFL-CIO, which represents dozens of unions and millions of workers, and the United Auto Workers union have each endorsed Harris.
Persons: Sean O'Brien, Donald, Trump, Kamala, Harris, Joe Biden, John Palmer, Biden, Hillary Clinton, Barack Obama, John Kerry, Al Gore, Karoline Leavitt, Lauren Hitt, , ” Hitt, James P, Hoffa, ” Biden Organizations: Teamsters, Big, Trump, Democratic, American, Central, International Association of Fire Fighters, AFL, CIO, United Auto Workers Locations: America, Alabama, Central States, Michigan
Musk did not respond to an email Tuesday asking about the Radio Free Europe/Radio Liberty report and about his sharing of Tenet Media content. Representatives for X also did not respond to a request for comment about Musk or about X’s handling of Tenet content. In posts on X, Musk has appeared unconcerned about Russia’s influence operations. The day after the indictment dropped, Musk accused The Associated Press of pushing anti-Trump “propaganda” in its coverage of Tenet Media. Southern and other commentators formerly employed by Tenet Media have said that they did nothing wrong.
Persons: Elon Musk, Tenet’s, Donald Trump, Trump, Musk’s reshare, Tenet, Dave Rubin, Benny Johnson, Christopher Wray, ” Tenet, Volodymyr Zelenskyy, Musk, X, Ben Shapiro, Josephine Lukito, ” Lukito, , Tim Pool, Rubin’s, Sen, Mark R, Martin Riedl, Lauren Southern, , ” Musk, ” Southern Organizations: Elon, Tenet Media, NBC, Republican, White, Tenet, Radio Free, Radio Liberty, Social Design Agency, Associated Press, Trump, University of Texas, , Tech, Senate Intelligence, Meta, Microsoft, Warner, Democratic, CNBC, School of Journalism, Media, University of Tennessee, NASA Locations: Russian, Russia, Radio Free Europe, Moscow, Knoxville, Europe
“There’s no one that can organize quite like labor,” Harris campaign manager Julie Chavez Rodriguez said. All together, labor leaders predict thousands of union members will deploy to battleground states to knock on doors or work phone banks. “It will be determinative,” Butler said of the Sun Belt labor groups' role in the November election. “Arizona is going to be a state that, at the end of the day, will elect the president — President Harris — I truly believe that,” McLaughlin said. “Momentum will carry Vice President Harris and Governor [Tim] Walz through.
Persons: Joe Biden, Kamala Harris, Harris, Donald Trump’s, , ” Harris, Julie Chavez Rodriguez, , Verrett, Trump, Biden, Shawn Fain, Chavez Rodriguez, they’ve, ” Biden, canvassers, “ Trump, ” Chavez Rodriguez, Sen, Laphonza Butler, ” Butler, Harris ’, Karoline Leavitt, ” Leavitt, Jim McLaughlin, , Harris —, ” McLaughlin, Tim, Walz Organizations: ” Workers, Service Employees International Union, Culinary Workers Union, AFL, CIO, Democratic, SEIU, United Automobile Workers, General Motors, Heritage Foundation’s, Trump, Democrats, Sun, Boeing, Teamsters Union, Teamsters, Arizona’s AFL, United Food & Commercial Workers, Biden Locations: Midwest, janitors, Canada, California , Illinois, New York, Arizona , Nevada , Georgia, North Carolina, Flint, Mich, McDonald’s, California, U.S, Reno , Nevada, Las Vegas, Nevada, Arizona
When you’re an NFL head coach, you’re in charge of a lot of things. Brian Callahan, the first-year head coach of the Tennessee Titans, is now overseeing aspects he didn’t have to think about before as an assistant. He was head coach of the Oakland Raiders from 2002 to 2003 and the University of Nebraska from 2004 to 2007. Tennessee Titans head coach Brian Callahan. “Sometimes I’ll call them ‘Coach Bill’; sometimes I’ll call Brian ‘Coach Cally.’ I mean, whatever comes out.”Running backs coach Randy Jordan remembers getting confused early on.
Persons: you’re, Brian Callahan, Bill Callahan, , Bill, “ We’re, Brian, ” Brian, ” Bill, Cleveland, Justin Ford, , Lloyd Cushenberry, Bill ’, Brian ‘, Cally, Randy Jordan, Nick Holz, it’s, ” Holz, that’s, , It’s Organizations: NFL, Tennessee Titans, NBC News, Oakland Raiders, University of Nebraska, Cleveland Browns, Getty, The Titans, Cincinnati Bengals, Browns, National Football League, Titans
SRINAGAR, India — Voters lined up outside polling stations in India’s Jammu and Kashmir on Wednesday to vote in the first provincial election being held in a decade in the Himalayan region that has grappled with years of militant violence. Jammu and Kashmir is India’s only Muslim-majority territory and has been at the center of a dispute with neighboring Pakistan since 1947. Until 2019, Indian-ruled Jammu and Kashmir had a special status of partial autonomy that was revoked by Prime Minister Narendra Modi’s government. Modi’s Bharatiya Janata Party-led (BJP) government has said that revoking the region’s special status restored normalcy in the area and helped its development. The contest this time is between regional parties promising to restore the special status, India’s main opposition Congress party which has allied with a prominent regional group, as well as the BJP, which is pitching development and a permanent end to militancy.
Persons: , , Mohammad Asim Bhat, Narendra Modi’s, ” Modi Organizations: India — Voters, Modi’s Bharatiya Janata Party, BJP Locations: SRINAGAR, India, Jammu, Kashmir, Pakistan, Indian
Unlike previous years, when the Pro was clearly more updated than lesser models, the basic iPhone 16 has more notable upgrades. The iPhone 16 comes with the customizable Action button that was previously exclusive to iPhone 15 Pro models. AdvertisementThe iPhone 16 starts at $799, and the iPhone 16 Plus costs about $899. "The key factor is the lower-than-expected demand for the iPhone 16 Pro series," he wrote. The iPhone 16 and iPhone 16 Plus come in five colors: ultramarine, teal, pink, white, and black.
Persons: , Pro Max, bode, Cherlynn, Nilay Patel, Chi Kuo, Kuo, Siri, Max, Allison Johnson Organizations: Service, Pro, Business, Apple, Apple Intelligence Locations: Taiwan
7:02 a.m.: JPMorgan hikes Roku price target Roku's focus on monetization for its Platform segment may spell good news for the stock. Analyst Cory Carpenter kept his overweight rating on the stock but upped his price target by $10 to $90. "We believe Lilly's launch of an obstructive sleep apnea (OSA) indication for its GLP-1 medication tirzepatide poses significant patient funnel disruption/distortion risks," the analyst wrote. Analyst Sara Senatore upped its price target by $6 to $118, which implies more than 22% upside from Tuesday's close. "Licensing China would also allow SBUX management to train its focus on the US (73% of 2023 EBITDA before corporate expenses)," the analyst wrote in a Wednesday note.
Persons: Goldman Sachs, Cory Carpenter, Carpenter, Roku, TTD, they've, — Sean Conlon, Wolfe, Resmed Wolfe, Mike, Eli Lilly, Sara Senatore, Senatore, Brian Niccol's, Lizzie Dove, Hilton, Dove, Adrienne Yih, Yih, Fred Imbert Organizations: CNBC, Marriott International, Barclays, Corp, JPMorgan, Google, Amazon, Bank of America, Marriott, Wyndham, Hilton, VF Corp Locations: Starbucks, China, Tuesday's, Timberland, VFC
The International Brotherhood of Teamsters on Wednesday announced it will not formally endorse a candidate in the 2024 presidential election, ending months of speculation about whether the labor union would back Republican Donald Trump or Democrat Kamala Harris. With 1.3 million members, the Teamsters union is one of the largest labor groups in the country. "As the strongest and most democratic labor union in America, it was vital for our members to drive this endorsement process. In a national survey of Teamsters members conducted after the Sept. 10 presidential debate, union members overwhelmingly backed Trump over Harris, 58% to 31%, according to results published by the union ahead of its formal endorsement. "'Right to work' laws only exist to try to kill labor unions," Teamsters General Secretary-Treasurer Fred Zuckerman said in the statement.
Persons: Sean O'Brien, Republican Donald Trump, Kamala Harris, Harris, O'Brien, it's, Trump, Joe Biden, Biden, Fred Zuckerman, O'Brien —, Lauren Hitt Organizations: International Brotherhood of Teamsters, UPS Teamsters, UPS, Brotherhood of Teamsters, Wednesday, Republican, Trump, Teamsters, Big, Democratic, Republican National Convention, Republicans, Independents, International Union, Railway Labor, Union, Democratic National Convention, RNC, CNBC, New York City Locations: Brooklyn , New York, America, New York
At the end of Tuesday's Snap Partner Summit keynote, CEO Evan Spiegel introduced a major upgrade to the company's augmented reality glasses. AdvertisementHe added, "AR glasses have see-through lenses. SnapAlthough Spiegel threw shade at headset rivals, Snap will have a lot to prove in the smart glasses space. The glasses Snap unveiled are cordless, unlike the Vision Pro headset. The Quest 3 completely covers the eyes, but Spiegel said Spectacles have see-through lenses that become tinted in sunlight.
Persons: , Evan Spiegel, you've, Spiegel, Snap, Leo Gebbie Organizations: Service, Business, Meta, Reality Labs, CCS Insight, CNBC, Vision, VR
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Wednesday's full episode of the Halftime Report — September 18, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.
Persons: CNBC's Scott Wapner Organizations: CNBC PRO
Learn moreUtah's Real Housewives return to TV tonight, and we'll show you everything you need to know about where to watch The Real Housewives of Salt Lake City, including international viewing options. First released in 2020, The Real Housewives of Salt Lake City is one of the more recent additions to the popular Real Housewives franchise. Where to watch the Real Housewives of Salt Lake City in the USThe new season of The Real Housewives of Salt Lake City airs Wednesday at 9 p.m. Check price at Peacock TVWhere to watch the Real Housewives of Salt Lake City in other countriesInternational Real Housewives fans in the UK, Australia, or other countries can stream The Real Housewives of Salt Lake City via Hayu. Real Housewives of Salt Lake City Season 5 trailerBravo released a sneak peek of the new season in August.
Persons: Lisa Barlow, Heather Gay, Meredith Marks, Whitney Rose, Angie Katsanevas, Jen Shah's, Mary Cosby, Bronwyn Newport, We've, Peacock, ExpressVPN, Bravo Organizations: Business, Housewives, Real, Real Housewives, Salt Lake City, Bravo, Sling, TLC, Fubo, NBC, Amazon Locations: Salt Lake City, Utah, Salt, City, Salt Lake, USA, RHOSLC, Australia, Hayu
Also known as water bears or moss piglets, tardigrades are waddling eight-legged animals with a reputation for survival. See the video, below, for yourself:This Wild West scene is a bit bizarre, but not totally surprising to experts. "I believe this tardigrade simply encountered the nematode, and it was something it could grasp which is better than flailing around helplessly." He ended up with a nematode and a batch of tardigrade eggs, visible through his microscope. AdvertisementGeldhof got into microscope videography about two years ago, after he started watching several microscope video creators on YouTube.
Persons: , tardigrade, Sandra McInnes, tardigrades, McInnes, Paul Bartels, Geldhof Organizations: Service, Business, of, Nikon's, British Antarctic Survey, Warren Wilson College, Amazon, YouTube Locations: Winthrop , Massachusetts
Traders instantly react to the data (sometimes wildly so), especially when the actual numbers are distinctly different than estimates. Thus, historically, XLU has been correlated with the direction of treasury bonds (which move in the opposite direction of bond yields). Here's a chart with XLU and the TLT 20+ Year Treasury Bond ETF, which we're using since it's the most widely traded treasury bond ETF. From 2022 through 2023, XLU and TLT moved in the same direction more often than not. Another reason is simply that investors are aggressively seeking yield producing instruments, with the understanding that bond yields were destined to fall.
Persons: XLU, That's, TLT, We're Organizations: Federal Reserve, PPI, Utilities, Treasury Bond ETF, Bollinger, CNBC, NBC UNIVERSAL Locations: XLU
The Federal Reserve is expected to make its first rate cut in just a few short hours, so CNBC Pro took a look at what stocks historically do best immediately after the start of an easing cycle. CNBC Pro searched for the stocks set to gain the most following a Fed rate cut, using data from prior easing cycles going back to 1984. Historically, Apple is up about 16% on a median basis three months after an initial cut from the Fed. Technology names tended to do well immediately after a Fed rate cut, with digital storage company Western Digital the top-performing stock, and semiconductor equipment company Lam Research the second-best performing one. Three months after a Fed rate cut, Western Digital gained more than 26% on a median basis, while Lam Research advanced more than 22%.
Persons: Organizations: Federal, CNBC Pro, Dow Jones, Apple, Western Digital, Lam Research, Kroger
(This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for PRO subscribers. Traders and investors are debating if the Federal Reserve will cut 25 basis points or 50 basis points when the decision comes at 2pm eastern time. "25 or 50 (basis points), we see a credible case for either. "The Fed is likely to adjust policy by 200 to 250 basis points over the coming year. Garewal also said this rate cut was part of a "normalization" cycle and shared research that yields on the 2-year fall 65 basis points on average after a first Fed cut.
Persons: Jerome Powell, Mark Smith, Wells, stagflation, Smith, Craig Johnson, Piper Sandler, Russell, Johnson, Goldman Sachs, Garewal, Piper Sandler's Johnson, Huntington, Kevin Murphy Organizations: PRO, Worldwide, Traders, Federal Reserve, Advisors, Worldwide Exchange, Blackstone, Mastercard, Visa, Ameris Bancorp, Fed, Ferguson Enterprises
In this article AAPL Follow your favorite stocks CREATE FREE ACCOUNTiPhone 16 Pro Apple Inc.Apple's iPhone 16 family of phones will hit shelves on Friday. Ahead of their launch, I've spent the past five days been testing the high-end iPhone 16 Pro Max. Here's what you need to know about the new iPhone 16 Pro Max, as of now. The iPhone 16 Pro Max has the best battery life of any iPhone yet. Apple Intelligence photos Apple Inc.Another Apple Intelligence feature can help you create movie memories, which are little snippets of photos and videos set to music.
Persons: I've, Max, It's, it's, Siri, Ming, Chi Kuo, I'm, MagSafe, They're, Tim Cook, what's, Jiang Jiaqiang, There's, Siri doesn't, Steve Jobs, Manuel Orbegozo Organizations: Apple Inc, Apple, Apple Intelligence, TF Securities, Barclays, Apple Intelligence Apple Intelligence, Steve, Reuters Locations: Apple's Mail, Boston, Cupertino , California
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAlaska Airlines CEO on Hawaiian merger: It's pro-consumer and pro-competitionBen Minicucci, Alaska Airlines CEO, joins 'Squawk on the Street' to discuss how quickly Alaska's merger with Hawaiian will filter into the company's bottom line, the people that doubted the merger would happen, and what's happening with Boeing.
Persons: Ben Minicucci Organizations: Alaska Airlines, Alaska Airlines CEO, Boeing
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