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Cloud startups raised $62.5 billion in Europe, Israel and the U.S. in 2023, the report found. Funding is up 65% from the $47.9 billion cloud firms raised four years ago, according to Accel. AI is eating softwareMuch of the growth of funding in cloud is being driven by excitement around AI. Globally, companies building so-called foundational models, which power much of today's generative AI tools, account for two thirds of overall funding for generative AI firms, Accel said. Big Tech's AI splurgeThe U.S. took the lead globally in terms of overall regional generative AI investment raised.
Persons: OpenAI, ChatGPT, Philippe Botteri, Botteri, Accel's, Anthropic, Elon Musk's xAI, Britain's, France's Mistral, Accel, Dev Ittycheria, Ittycheria Organizations: Accel, Venture, Microsoft, CNBC, Accel —, Nasdaq, Alpha, Google Locations: U.S, Europe, Israel, genAI
JB Hunt beat earnings estimates for the first time in two years. AdvertisementTrucking company JB Hunt earned the approval of stock investors on Wednesday after a stronger-than-expected earnings report showed demand is coming back. AdvertisementThese struggles have translated into weak market performance for JB Hunt and other freight carriers. AdvertisementGoing beyond JB Hunt, there has been other data suggesting better prospects ahead. DAT Freight & Analytics' trucking volume index rose year-over-year for all three different categories of freight equipment for the 12 months ended in September.
Persons: JB Hunt, , It's, Shelley Simpson, Nicholas Hobbs, Ken Adamo Organizations: Service, JB, DAT, Analytics
NEW YORK, NEW YORK - OCTOBER 16: Traders and others work on the New York Stock Exchange (NYSE) floor in New York City. U.S. stock futures hovered near the flatline Wednesday evening after the Dow Jones Industrial Average closed at a record for the second time this week. Futures tied to the S&P 500 and Nasdaq 100 futures fell around 0.1% each. The S&P 500 rose 0.47%, while the tech-heavy Nasdaq Composite added 0.28%. On the economic front, traders will be looking toward weekly jobless claims and September's retail sales due on Thursday.
Persons: Adam Crisafulli, It's, Morgan Stanley, Blackstone Organizations: NEW, Traders, New York Stock Exchange, Dow Jones, Dow, Nasdaq, Alcoa, Transport, CSX, Vital Knowledge, Travelers, Elevance, T Bank, Truist Locations: New York City . U.S
The Aussie dropped as much as 0.51% to $0.6669, the lowest since Sept. 12, before changing hands down 0.38% at $0.6678 as of 0133 GMT. The New Zealand dollar sank as much as 0.69% to $0.6041, a level last seen on Aug. 19. China will hold a press conference on Thursday to discuss promoting the "steady and healthy" development of the property sector. The dollar was little changed at 149.135 yen , not far from Monday's high of 149.98 yen, the strongest since Aug. 1. The euro edged 0.05% lower to $1.08875, and earlier touched $1.0882, matching the low from Tuesday, which was the weakest level since Aug. 8.
Persons: There's, Ray Attrill, there's, Attrill Organizations: New Zealand, National Australia Bank, Statistics, U.S, Traders, Fed, European Central Bank Locations: New Zealand, Beijing, China, Statistics New Zealand
Beijing's lack of concrete economic stimulus actions poured cold water on U.S. investors who went big on the China trade, and strategists on Wall Street are warning of disappointment ahead. The professional cohort had piled into beaten-down stocks last month, stirred by hopes of more government assistance for the troubled China economy. "Indeed, the only part of the Chinese economy that appeared to be holding was its export sector. Investor sentiment toward Chinese stocks was partly aided by high-profile hedge fund manager David Tepper of Appaloosa Management, who turned extremely bullish. Stanley Druckenmiller reportedly said he's not interested in Chinese stocks under the current political leadership, regardless of the new policies.
Persons: Stefano Pascale, Sameer Samana, Donald Trump, Barclays Pascale, David Tepper, Tepper, Ray Dalio, Stanley Druckenmiller, he's, — CNBC's Michael Bloom Organizations: Barclays, Trump, CSI, Appaloosa Management, CNBC Locations: China, Wells Fargo, Beijing
The Federal Reserve is about a month into its rate-cutting cycle, and money market fund yields are already starting to pay less. That's where short and ultra-short duration bond funds and ETFs may come into play. An eye on duration Duration is a measure of a bond's price sensitivity when interest rates fluctuate. In that case, ultra-short bond funds and short-term bond funds might be "a natural landing spot for that cash." Those ultra-short bond funds have one to three years of duration and offer some stability day to day, Bartolini added.
Persons: Brett Sheely, Matthew Bartolini, Bartolini, AllianceBernstein's Sheely, , Vincent Caintic Organizations: Federal, Investment Company Institute, State Street Global Advisors, SPDR, SPDR Americas Research, Bond, SEC, Federal Deposit Insurance Corp, . Locations: SPDR Americas
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. Data on employment, inflation and economic growth have signaled that the "economy may not be slowing as much as desired," Waller said. A soft landing is the scenario in which inflation drops to the Fed's 2% target while economic growth and employment remain healthy. A "no landing," on the other hand, is when the economy continues expanding as inflation remains high.
Persons: Jefferies, Kelly Ortberg, Christopher Waller, Waller, Fed Governor Waller, Henry Allen, Ohsung Kwon, BofA, Kwon, , Jeff Cox, Sarah Min, Lisa Kailai Han, Yun Li Organizations: Shoppers, Miami Design District, CNBC, Grand View Research, Boeing, P Global, U.S . Federal, Fed, Deutsche Bank, Bank of America Securities Locations: Miami , Florida, U.S
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. Nvidia's numbers aren't a hallucinationNvidia shares rose 2.4% to close at $138.07, a new record for the stock. Data on employment, inflation and economic growth have signaled that the "economy may not be slowing as much as desired," Waller said. [PRO] Small cap strategyMarket wisdom has it that the performance of small-cap stocks will outstrip that of big-cap stocks.
Persons: Dow, it's, Christopher Waller, Waller, Kelly Ortberg, Russell, Bob Pisani Organizations: CNBC, Dow Jones, Dow, Nasdaq, European Central Bank, Nvidia, U.S . Federal, Boeing, P Global
Dollar at over two-month high, yen near 150 per dollar
  + stars: | 2024-10-15 | by ( ) www.cnbc.com   time to read: +3 min
The U.S. dollar was perched at an over two-month high against major currencies on Tuesday, spurred by wagers the Federal Reserve will proceed with modest rate cuts in the near term, while the yen inched closer to the key 150 per dollar level. The U.S. dollar was perched at an over two-month high against major currencies on Tuesday, spurred by wagers the Federal Reserve will proceed with modest rate cuts in the near term, while the yen inched closer to the key 150 per dollar level. The U.S. central bank kicked off its easing cycle with an aggressive 50 basis points at its last policy meeting in September. The dollar got a lift after Fed Governor Christopher Waller on Monday called for "more caution" on interest rate cuts ahead, citing recent economic data. That has cast doubts over when Japan's central bank will next tighten policy.
Persons: Christopher Waller, Waller, Chris Weston, Kazuo Ueda, Shigeru Ishiba, Tony Sycamore Organizations: U.S, Reserve, European Central Bank, Fed, Traders, Boeing, Bank of Japan, New Zealand, Caixin Global, Treasury, IG, China National, Congress Locations: U.S, Japan, China
See more mortgage rates on Zillow Real Estate on ZillowWhat Are Today's Mortgage Refinance Rates? See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Current 30-Year Mortgage RatesAverage 30-year mortgage rates are hovering around 6.30%, according to Zillow data. Current 15-Year Mortgage RatesAverage 15-year mortgage rates are in the mid 5% range, according to Zillow data. But now that inflation has decelerated and the Fed has started cutting rates, mortgage rates have trended down.
Persons: Freddie Mac, it's, Fannie Mae Organizations: of Labor Statistics, Federal Reserve, Zillow, Fed, Mortgage, Association, ARM, . Government Locations: U.S, Chevron, Government
China's luxury market could face its worst quarter in four years, amid aggressive stimulus measures. AdvertisementLuxury brand investors are bracing to see if China's aggressive stimulus measures could be enough to pull its faltering luxury market out of the woods. While Beijing's recent moves to inject liquidity and lower interest rates have sparked some hope in pulling Chinese shoppers out of their spending slump, experts are skeptical of an immediate revival of China's luxury market. Related storiesWhile China's poor economic growth had deterred luxury spending for some, others continued their luxury shopping sprees — outside China. AdvertisementAlthough the outlook for China's luxury market remains bleak in the short run, Jefferies analysts are expecting a recovery as soon as 2025, Reuters reported.
Persons: bellwether, , Markus Hansen, LVMH, Patrice Nordey, Trajectry, Nordey, Marc Jacobs, Hermès Organizations: Service, Burberry, Reuters, CNBC, Jefferies Locations: China, Asia, Japan, Paris, Shanghai, LVMH
UBS sees S&P 500 soaring to 6,400 by the end of 2025
  + stars: | 2024-10-15 | by ( Fred Imbert | ) www.cnbc.com   time to read: +2 min
Strategist Jonathan Golub raised his 2025 S & P 500 target to 6,400 from 6,000 in a note to clients released Tuesday. "UBS economists forecast 3.7% nominal GDP in 2025 (1.6% real), roughly in line with long-term averages," he said. Golub also noted that a "sharp decline in Fed Funds will likely increase profit margins by 20 [basis points] via lower interest expense." The Fed lowered its benchmark fed funds rates a half a point, to a range of 4.75% to 5.0%, in September. Bottom line: Stocks could consolidate to end 2024 before scaling new heights in the new year, based on UBS' outlook.
Persons: Jonathan Golub, Golub, Stocks, Golub doesn't, Goldman Sachs Organizations: UBS, Federal Reserve, Fed Locations: Monday's
The port at Busan, South Korea, in 2020. South Korea and Japan are especially dependent on shipping lanes that traverse the South China Sea, linking them to the Indian Ocean, Persian Gulf and beyond. Asia-Pacific markets opened higher Tuesday, following gains on Wall Street that saw the Dow Jones Industrial Average and the S&P 500 Nasdaq Composite reach new record highs. Investors assessed trade data out of South Korea, which showed a trade surplus of $6.7 billion in September, up from $3.7 billion in the previous month. South Korea's Kospi opened 0.05% higher, while the small-cap Kosdaq was up 0.4%.
Persons: Australia's Organizations: Dow Jones Industrial, Nasdaq, Kospi, Nikkei Locations: Busan, South Korea, Japan, China, Persian Gulf, Asia, Pacific
Wall Street should still being watching out for a possible recession, said strategist Paul Dietrich. If temporary government jobs were removed from the lastjobs report, unemployment would be 4.5%, Dietrich said. AdvertisementThe US is riding high, but one strategist says economic optimism will eventually be cut short as unseen labor weakness bites. AdvertisementThat plays into Dietrich's broader point that rising unemployment can be a sure sign of recession. Though other analysts have also scrutinized the unemployment rate, its importance has been questioned in today's unusual economic cycle.
Persons: Paul Dietrich, Dietrich, , Riley, Wall, joblessness, Dietrich isn't Organizations: Service, Riley Wealth, US
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 . AdvertisementStocks were mixed Tuesday morning as traders assessed the latest earnings, though several results before the bell helped strike a positive tone in early trading. While earnings will be this week's focal point, investors will also watch for September's retail sales and initial jobless claims to release on Thursday. Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Tuesday:AdvertisementHere's what else is going on:In commodities, bonds, and crypto:
Persons: , Goldman Sachs, Wells Fargo, Brent, Adriana Kugler, Mary Daly Organizations: Service, Citigroup, Bank of America, Dow Jones, JPMorgan Locations: Israel, Here's
European stocks are heading for a positive open Tuesday, with global markets broadly tracking gains on Wall Street. The U.K.'s FTSE 100 index is expected to open 40 points higher at 8,324, Germany's DAX up 86 points at 19,586, France's CAC up 27 points at 7,621 and Italy's FTSE MIB up 125 points at 34,653, according to data from IG. The positive start for Europe comes after gains on Wall Street that saw the Dow Jones Industrial Average and the S&P 500 reach new intraday highs and record closes. Asia-Pacific markets were mixed overnight, but regional chip stocks rose, boosted by Nvidia's share price rising 2.4% Monday before closing at a record high. In Europe Tuesday, earnings are set to come from LVMH and Ericsson and data releases include the U.K.'s latest unemployment figures, French inflation data and the Europe and German ZEW index of economic sentiment.
Persons: Germany's DAX Organizations: France's CAC, IG, Dow Jones Industrial, Nvidia's, LVMH, Ericsson Locations: Europe, Asia, Pacific
New York CNN —Wall Street traders are popping champagne and toasting the two-year anniversary of a period of outsized gains known as a bull market. What makes this bull market unusual is how much uncertainty and economic worry investors have had to contend with during its run. Historically, bull markets recover around 194% of the previous downturn, according to Sam Stovall, chief investment strategist at CFRA. While the first two years of a bull market often see significant gains, history shows that the third year can bring challenges, said Stovall. On average, bull markets entering their third year post a modest return of just 2%.
Persons: Stocks, Sam Stovall, Adam Turnquist, Quincy Krosby, , Stovall Organizations: New, New York CNN, Wall, LPL, LPL Financial, Federal Locations: New York, Europe, East
The vast majority of analysts surveyed by FactSet hold a strong buy or buy rating on the stock. Despite its recent slowdown, analysts surveyed by FactSet have a consensus buy rating on the dominant e-commerce platform. Bullish voices on the stock include Goldman Sachs analyst Eric Sheridan, who recently reiterated a buy rating and $230 price target. JPMorgan's Anmuth is similarly positive on Amazon ahead of earnings, rating the stock overweight and saying it remains the favorite in the bank's firm's internet sector coverage. The consensus FactSet rating on Meta is buy, with an average price target of $604, suggesting just 2.3% potential upside.
Persons: Roundhill, , selloff, Goldman Sachs, Kash Rangan, Nvidia's Blackwell, Brad Zelnick, Amit Daryanani, Daryanani, Apple's wearables, qtr, Tim Cook's, you'd, Morgan Stanley, Jensen, Blackwell, Biden, Tesla, enthusiam, Elon, Wells, Colin Langan, Department's, Doug Anmuth, Bank of America's Justin Post, Eric Sheridan, Sheridan, Goldman, Anmuth, Baird, Roth MKM, JPMorgan's Anmuth, Goldman's Sheridan, Meta's, — CNBC's Michael Bloom Organizations: Apple, Microsoft, Nvidia, Tesla, CNBC, Windows, Investment, Deutsche Bank, Justice Department, Blackwell, Bloomberg, Ford, General Motors, EV, Google, FactSet, Bank of America's, ISI, Walmart, Costco, eBay, Meta, Ray, Labs, Facebook, Temu, Goldman Locations: China, FactSet, ., Downside, U.S, Wells Fargo, American, Meta's Asia, Pacific
The Oura Ring 4. On the whole, the Oura Ring 4 is comfortable to wear and its app is easy to navigate. Ashley CapootI had never worn an Oura Ring before, so the entire experience was new to me. Silver jewelry has always been my preferred style, so I picked the silver Oura Ring 4 to match my accessories. The My Health tab gives users access to longer-term insights such as heart health, sleep health and resilience, a metric that measures your ability to recover from stress over time.
Persons: Ashley Capoot, Oura, I've, it's Organizations: Apple
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. AdvertisementGrant figured that if she continued investing most of her income in index funds, she could retire by 40. "There are going to be expensive seasons and not-so-expensive seasons." Grant (right) says one of her main goals is building community among individuals pursuing FIRE.
Persons: Grant, She's, , Amberly Grant, I've, I'm, she's, it's, it'll Organizations: FIRE, Service, Mr, Facebook Locations: Vegas, Colorado
Fed Governor Christopher Waller says recent data shows the Fed should ease more cautiously. The Fed cut rates by a50-basis points last month and is expected to make a smaller cut next month. AdvertisementWaller said recent data, though, shows an economy that's still hot. He pointed to recent data on employment, inflation, income and gross domestic product. Waller said he will be watching closely for any further data that shows the Fed should ease less aggressively.
Persons: Christopher Waller, Waller, , Waller's Organizations: Service, Stanford University, Fed
Shares hit an all-time high Tuesday despite a chorus of recent concerns from Wall Street analysts about demand for the new artificial intelligence-enabled iPhone 16. Apple Intelligence is the company's new suite of generative artificial intelligence tools due out later this month. Available for preorder now, the tablet has a processor capable of supporting Apple Intelligence. Big picture The IDC data comes as many on Wall Street express skepticism around sales for the new iPhone 16 lineup. Apple CEO Tim Cook inspects the new iPhone 16 during an Apple special event at Apple headquarters on September 09, 2024 in Cupertino, California.
Persons: Morgan Stanley, Apple's, Popal, swoon, Jim Cramer, Jim, Jim Cramer's, Tim Cook, Justin Sullivan Organizations: Apple, Wall Street, International Data Corporation, IDC, Samsung, Apple Intelligence, JPMorgan, Barclays, Bank of America, Club, Nvidia, U.S, CNBC Locations: U.S, Cupertino , California
The S&P 500 and the Dow Jones Industrial Average rose to fresh records Monday as investors awaited the next batch of key corporate earnings. The broad market index climbed 0.77% to 5,859.85, while the 30-stock Dow advanced 201.36 points to 43,065.22. Both averages hit all-time highs and closed at records, with the Dow ending the session above the 43,000 mark for the first time. The early signs of a recovery in banking profits helped push the broader market to all-time highs at the end of last week. The S&P 500 closed above 5,800 for the first time on Friday, while the blue-chip Dow also reached an all-time high.
Persons: Goldman Sachs, Johnson, Morgan Stanley, Wells Fargo, Dow, Bernstein, , Baird, Ross Mayfield Organizations: Dow Jones, Dow, Nasdaq, UnitedHealth, Apple, Technology, Bank of America, Johnson, United Airlines, Walgreens Boots Alliance, Netflix, Procter, Gamble, JPMorgan Chase, Federal, Treasury, Columbus Day
Federal Reserve Governor Christopher Waller on Monday signaled that future interest rate cuts will be less aggressive than the big move in September as he expressed concern that the economy could still be running at a hotter-than-desired pace. The Federal Open Market Committee at its September meeting took the unusual step of lowering its baseline interest rate by a half percentage point, or 50 basis points, to a target range of 4.75%-5.0%. Along with the cut, officials indicated the likelihood of another half point lopped off in the final two meetings of 2024, along with another full percentage point of cuts in 2025. In the final revision for second-quarter growth, the Commerce Department also punched up the level of gross domestic income gain to 3.4%, an adjustment of 2.1 percentage points from the previous estimate and closer in line with GDP. “These revisions suggest that the economy is much stronger than previously thought, with little indication of a major slowdown in economic activity,” Waller said.
Persons: Christopher Waller, ” Waller, Waller, Organizations: Federal, Stanford University, The, Fed, Commerce Department
Kamala Harris and Donald Trump are in a closely divided campaign for white women. Trump, Harris and the battle for white womenGetty Images; APWhite women helped Trump win in 2020. Dr. Theresa Wheeling had always been a registered Republican and voted for Donald Trump during the 2020 presidential election. ➡️ Authorities are investigating after a man with guns in his vehicle was arrested after he was stopped at a checkpoint near a campaign rally for Donald Trump. ➡️ Donald Trump is ramping up his rhetoric depicting his political rivals and critics as criminals.
Persons: Kamala Harris, Donald Trump, Harris, Theresa Wheeling, Roe, she’s, , , Read, ➡️ Donald Trump, ➡️, ➡️ Kamala Harris ’, Joe Biden, ➡️ Harris, Trump, Daniel Hagari, Jasmine Cui, NFL Brad Penner, Caleb Williams, Greg Rosenstein, 🩹, , J, mak Organizations: NFL, Trump, Voters, Republican, ” Wheeling, NBC News, GOP, NBC, IDF, Aqsa Martyrs Hospital, Dallas Cowboys, Detroit Lions, Lions, Chicago Bears, Jacksonville Jaguars, ards, Cal, U SC, Wea Locations: Wade, Wheeling, Pennsylvania, North Carolina, Gaza, Al, Aqsa, Deir al, Israel, U.S, 🙌T, 5 s
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