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The S & P 500 last week scored its best week since November 2023, hitting the 6,000 mark, while the 30-stock Dow Jones Industrial Average climbed above 44,000. Stocks seen as early beneficiaries, among them steelmakers and banks, are losing momentum, while others like Tesla are continuing to climb. Its shares are nearly flat week so far this week. Take a look at the lot: Tesla 's the most popular winner in the group, gaining roughly 21% since Nov. 6, boosted by CEO Elon Musk's close relationship with Trump. Other than Tesla, energy stocks Coterra Energy and Baker Hughes are also moving higher, the latter gaining more than 15% just this month.
Persons: Trump, Donald Trump, Stocks, Tesla, Morgan Stanley, Betsy Graseck, Elon Musk's, Edison Yu, JD Vance, Baker Hughes, Goldman, Citigroup — Organizations: weill, Dow Jones, CNBC Pro, Trump, Caterpillar, Steelmakers Steel Dynamics, JPMorgan, Citizens Financial, Prudential, Republican, Bank of America . Semiconductor, Micron Technology, Arista Networks, Deutsche Bank, Coterra Energy, Bank of America, Citigroup Locations: Wells Fargo
A Donald Trump presidency and Republican-controlled Senate could boost big banks, according to Morgan Stanley analyst Betsy Graseck. The analyst highlighted four big banks investors should look toward: Citigroup, Goldman Sachs , Wells Fargo and Bank of America . The acceleration in capital markets should benefit all the big banks, and Goldman Sachs is set to benefit the most, she noted. Meanwhile, Citigroup is most exposed to tailwinds from higher excess capital levels as a Republican-led government is unlikely to raise current capital requirements. She estimates this will result in an $86 billion jump in current excess capital for the big banks in the firm's coverage.
Persons: Donald Trump, Morgan Stanley, Betsy Graseck, financials, Financials, Graseck, Goldman Sachs, Wells, Goldman Organizations: Republican, Trump, House Republicans, Citigroup, Bank of America Locations: Wells Fargo, Basel
Warren Buffett isn't hot on stocks right now, and the 94-year-old CEO's latest moves reflect that. The cash hoard has grown as Berkshire pared down stakes in key holdings such as Apple and Bank of America . It's also raked in more than $10 billion from steadily selling Bank of America shares since the summer. Berkshire Class A stock trades at 22.6 time earnings. Lastly, Colas noted that Buffett may have "have identified one or more large acquisitions and is raising capital for those purchases."
Persons: Warren Buffett, Berkshire Hathaway, Goldman Sachs, It's, Buffett, didn't, Nicholas Colas, Colas, Greg Abel, hasn't, Morgan Stanley Organizations: Berkshire, Nike, Disney, Apple, Bank of America, of America, DataTrek, Oracle, Berkshire Class Locations: Berkshire, Omaha
Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska, on May 3, 2024. Berkshire Hathaway 's monstrous cash pile topped $300 billion in the third quarter as Warren Buffett continued his stock-selling spree and held back from repurchasing shares. Meanwhile, since mid-July, Berkshire has reaped more than $10 billion from offloading its longtime Bank of America investment. Overall, the 94-year-old investor continued to be in a selling mood as Berkshire shed $36.1 billion worth of stock in the third quarter. The company states that it will buy back stock when Chairman Buffett "believes that the repurchase price is below Berkshire's intrinsic value, conservatively determined."
Persons: Warren Buffett, Berkshire Hathaway, Buffett Organizations: Berkshire, Oracle, Apple, Bank of America Locations: Omaha , Nebraska, Omaha, Berkshire
Warren Buffett is not done selling Bank of America . Berkshire Hathaway shed a total of 19.2 million BofA shares on Tuesday, Wednesday, and Thursday for almost $779 million at an average selling price of $40.52 per share, according to a new regulatory filing. The conglomerate has now been offloading the bank stock for 12 consecutive days with total sales now exceeding $3.8 billion. Its remaining 942.4 million shares have a market value of $37.2 billion at Thursday's close of $39.50. The bank stock has dropped 5.2% so far this week, going as low as $38.98 in Thursday's trading as recession fears plague the financial sector.
Persons: Warren Buffett, Berkshire Hathaway, BofA Organizations: Berkshire, of America, Bank of America, Apple, American Express Locations: Omaha , Nebraska, Berkshire
Warren Buffett surprised many investors by downsizing one of his longest held and largest positions — Bank of America . Berkshire Hathaway recently unloaded 52.8 million Bank of America shares worth $2.3 billion during a six-day selling spree, the first time since late 2019 that the Omaha-based conglomerate reduced its holding. The legendary investor said then that he liked the business, valuation and management of the Charlotte-based bank "very much." BAC YTD mountain Bank of America Tax liability Taxes could also be a motivating factor in the BofA sale. Buffett, who paid over $5 billion in corporate taxes in 2023, believes the corporate tax rate could move higher to help fill the government's yawning gap between spending and revenue.
Persons: Warren Buffett, Buffett, Brian Moynihan, James Shanahan, Edward Jones, BofA, … BofA, they'd, Moynihan Organizations: — Bank of America, Oracle, Omaha . Berkshire Hathaway, of America, Berkshire, Apple, Bank of America Locations: Omaha ., Omaha, Berkshire, BofA, Charlotte
It is also quite the about-face by the Republican presidential nominee. The Republican presidential nominee will also host an accompanying fundraiser in Nashville, with tickets topping out at $844,600 . Bitcoin 2024 conference organizers say they were briefly in talks to have Vice President Kamala Harris appear at the conference, though she ultimately declined. "I think we're going to hear from Vice President Harris soon on this. Harris' team has already begun to reach out to people close to crypto companies to set up meetings, the Financial Times reported on Saturday.
Persons: Donald Trump, Joe Biden's, David Bailey, Trump, NASHVILLE —, bitcoin, Fox, I've, Harris, Wiley Nickel, Nickel, Kamala Harris, Mark Cuban, we've Organizations: Van, Trump, Republican, BTC Inc, NASHVILLE, Republican Party, Biden, Democratic Party, Democratic, North Carolina, CNBC, Financial Times Locations: Grand Rapids , Michigan, America, Nashville, Washington, North
Berkshire Hathaway reported Saturday its first-quarter 2024 figures, revealing that most of the conglomerate's stock portfolio is focused on just five stocks. At the end of the January-March period, Berkshire owned $135.4 billion in Apple shares , implying about 790 million shares. Apple has struggled this year, losing more than 4%, while the S & P 500 has soared 7.5% to record levels. The company also owned $24.5 billion in Coca-Cola stock — a longtime holding of Buffett's — and $19.4 billion in Chevron shares. Overall, these five positions made up about 75% of Berkshire Hathaway's stock portfolio.
Persons: Berkshire Hathaway, Warren Buffett, behemoth, Apple, Organizations: Apple, American Express, Bank of America, Chevron Locations: Berkshire, Bank
BlackBerry — BlackBerry shares popped more than 9% after the company announced a partnership with Advanced Micro Devices on robotics systems. Neogen Corp — The food safety stock shed 9% after the company reported a surprise loss of 1 cent per share. The company also trimmed its previous guidance, saying it now expects revenue to range between $920 million and $910 million for the full year. Norfolk Southern announced that it reached a $600 million settlement related to its derailment in East Palestine. Nvidia — Shares fell more than 2%, putting the chipmaker on track for its fifth losing session in six.
Persons: Tilray, FactSet, Goldman Sachs, Molson Coors, Molson, — CNBC's Michelle Fox, Sarah Min, Pia Singh, Yun Li Organizations: Moderna, Reuters, Merck, Boeing, New York Times, Google, American Eagle Outfitters, JPMorgan, Eagle Outfitters, Bank of America, EV, Molson, Pfizer, Neogen Corp, Norfolk Southern, Nvidia —, Netflix Locations: East Palestine
Abbott update : Shares of Abbott Laboratories were slightly higher Thursday, on pace for their third straight day of gains. The embattled cosmetics company was the top-performing Club stock in Thursday's session, boosted by an upgrade at Bank of America . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Eli Lilly, Wegovy, Abbott, Louis, Jim, Reckitt's Mead Johnson, Mead, Johnson, Stanley Black, Decker, Estee Lauder, Lauder, there's, Jim Cramer's, AJ Mast Organizations: CNBC, Stocks, Bloomberg, Amazon Pharmacy, Rite, Abbott Laboratories, Abbott, NEC, Home, U.S, Bank of America, Jim Cramer's Charitable, Getty Locations: U.S, St, Illinois, China, Indianapolis , Indiana
Billionaire investor Leon Cooperman has warned market participants to expect stocks to struggle as long-term Treasury yields rise or remain elevated. Despite those concerns, Cooperman snapped up shares of many lesser-known stocks in the fourth quarter, according to regulatory fillings. Despite the soccer club's stock rising 3% in the fourth quarter, shares still ended 2023 down more than 12%. Shares have climbed more than 3% so far in the new year, making up some ground after sliding in the fourth quarter and 2023 as a whole. Cooperman, who spent a quarter century at Goldman Sachs before founding Omega, also made smaller additions to several holdings.
Persons: Leon Cooperman, Cooperman, Goldman Sachs, , Yun Li Organizations: Omega, Federal Reserve, Manchester United, Fidelis Insurance, Las Vegas Sands, Elevance Health, Bank of America, Citigroup, Ellington Financial Locations: Las Vegas, Bank
Antonio Neri, CEO, Hewlett Packard Enterprise, at the NYSE, Oct. 19, 2023 Source: NYSETechnology stocks have taken back the No. 1 spot in the JUST 100, an annual ranking of large public companies on issues of key importance to the American public, with Hewlett Packard Enterprise topping last year's No. Career advancement opportunities, worker training and development, benefits and retention are other issues which helped push HPE and other companies higher in the 2024 JUST 100 rankings. All of these issues, Whittaker said, "cluster all around the questions of 'How good am I as an employer?'" Whittaker said that's also the case with the key worker issues that are the most heavily weighted in the rankings.
Persons: Antonio Neri, HPE, Martin Whittaker, Paul Tudor Jones, It's, it's, Whittaker, Kristin Major, we've, Russell, Major, that's Organizations: Hewlett Packard Enterprise, NYSE, NYSE Technology, of America, Capital, Just, Just Capital, Apple, Microsoft, Citigroup, Elevance, Devices, Micron Technology
Read previewThis as-told-to essay is based on a conversation with Julia Stevens, a 25-year-old who recently moved to San Francisco. In August 2022, a few of my college friends who'd moved to San Francisco invited me to visit them. I'd traveled in Europe during college; even still, San Francisco was the most beautiful and striking place I'd ever seen. San Francisco was perfect for the career path I wanted to takeI majored in English and minored in environmental science. The cost of living is the biggest downsideI wasn't fully prepared for the high cost of living in SF .
Persons: , Julia Stevens, who'd, San Francisco, I'd, didn't, I've, I'm, outdoorsy, El Salvadorian, it'll Organizations: Service, Business, San, Facebook, Craigslist, Raleigh Locations: San Francisco, Raleigh, America, Europe, San, North Carolina, Santa Cruz, East
Reaction to Drone Strike on US Troops in Jordan
  + stars: | 2024-01-28 | by ( Jan. | At P.M. | ) www.usnews.com   time to read: +3 min
WASHINGTON (Reuters) - Three U.S. service members were killed and as many as 34 wounded, United States officials said on Sunday, after a drone attack in Jordan that they linked to Iranian-backed militants. REPUBLICAN FORMER PRESIDENT DONALD TRUMP"The drone attack on a U.S. Military Installation in Jordan, killing 3 American service members, and wounding many more, marks a horrible day for America ... This brazen attack on the United States is yet another horrific and tragic consequence of Joe Biden's weakness and surrender." MITCH MCCONNELL, US SENATE REPUBLICAN LEADER"Last night, the cost of failure to deter America's adversaries was again measured in American lives. CHUCK SCHUMER, US SENATE DEMOCRATIC LEADER"We mourn the deaths of the three service members killed by a drone attack in Jordan from an Iran-backed militant group.
Persons: JOE BIDEN, DONALD TRUMP, Joe Biden's, LLOYD AUSTIN, MICHAEL MCCAUL, MITCH MCCONNELL, CHUCK SCHUMER, HAKEEM JEFFRIES, Jordan, ISRAEL KATZ, ROGER WICKER, Biden, JACKY ROSEN, Susan Heavey, Kanishka Singh, Emily Rose, Hatem Maher, Heather Timmons, Matthew Lewis, Lisa Shumaker Organizations: WASHINGTON, United, DEMOCRATIC, REPUBLICAN, U.S, America, HOUSE, DEMOCRAT ON Locations: United States, Jordan, Iranian, Israel, Gaza, Iran, U.S, REPUBLICAN, Egypt, Hashemite Kingdom
Traders on the floor of the New York Stock Exchange (NYSE) in New York, on Tuesday, Jan. 3, 2023. Stock futures were flat in overnight trading following a losing session to kick off the holiday-shortened trading week. Futures tied to the Dow Jones Industrial Average hovered near the flatline, along with S&P 500 futures . Interactive Brokers lost nearly 3% in extended trading after posting fourth quarter adjusted earnings that fell short of expectations. The Federal Reserve's beige book and business inventories for November are also slated for Wednesday, along with remarks from New York Federal Reserve Bank President and CEO John Williams.
Persons: Stocks, Christopher Waller, Goldman Sachs, Morgan Stanley, Jeffrey Buchbinder, Dow Jones, Charles Schwab, John Williams Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Interactive, Federal Reserve, Dow, Bank of America, LPL, U.S . Bancorp, New York Federal Reserve Bank Locations: New York, New
While this could create American jobs, it could make a wide range of products more expensive. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But fewer made-in-China product labels will likely also mean higher prices for Americans at the checkout line. Given it's generally more expensive to manufacture goods in the US than China, shoppers could have to pay more for made-in-America items like clothes, toys, and furniture. That's because higher prices could make it more difficult for the Federal Reserve to cool inflation .
Persons: , JPMorgan's, reshoring, Jerome Powell Organizations: Federal Reserve, Service, JPMorgan, Reshoring Initiative, Economic, of New Locations: China, America, Mexico, Ukraine, Israel, of New York
Just as they did during the March regional banking crisis, higher rates are expected to lead to a jump in losses on banks' bond portfolios and contribute to funding pressures as institutions are forced to pay higher rates for deposits. The issue constrains the bank's interest revenue and has made the lender the worst stock performer this year among the top six U.S. institutions. Expectations on the impact of higher rates on banks' balance sheets varied. Still, others including KBW and UBS analysts said that other factors could soften the capital hit from higher rates for most of the industry. There's also concern that higher interest rates will result in ballooning losses in commercial real estate and industrial loans.
Persons: Jamie Dimon, Marco Bello, Christopher McGratty, David Konrad, McGratty, Morgan Stanley, Betsy Graseck, Konrad, Gerard Cassidy Organizations: JPMorgan Chase &, Reuters, JPMorgan Chase, Citigroup, Bank, Silicon Valley Bank, First, Bank of America, Comerica, Fifth Third Bank, KeyBank, UBS, RBC Locations: Miami , Florida, U.S, Wells Fargo, Silicon, First Republic
After years of putting her mental health second to her career, she's prioritizing her well-being. Now that I'm financially able to take a break, I've decided to take a gap year in my 30s. Here's why I've made this decision and how I'm going to make it happen. I'm going to embrace ethical and slow travelI'm planning to visit Chile, Argentina, Bolivia, and Ecuador. I'm going to strive to regain the Spanish fluency I've lost over the past few years, meditate daily, and get outside every day.
Persons: Taryn Williams, would've, I'm, I've, Dunkin, it's, journaling Organizations: Service Locations: Alaska, South America, Wall, Silicon, Airbnbs, Chile, Argentina, Bolivia, Ecuador, Antarctica
Marko, 80, apologised last week after referring to Perez as a "South American" who was less focused than dominant Red Bull team mate Max Verstappen or the team's now-retired champion Sebastian Vettel. "We can confirm that Helmut Marko has received a written warning and been reminded of his responsibilities as a public figure in motor sport in line with the FIA Code of Ethics," said an FIA spokesman at the Singapore Grand Prix. Perez said on Thursday he had accepted a personal apology from Marko, whose comments continued to provoke a strong reaction in the paddock. It was not the first time Marko had referred to Perez as a South American, although the Mexican comes from Guadalajara which is geographically in North America. "I'm Italian so I know that sometimes we have been facing the same comments," said Alfa Romeo's Alessandro Alunni Bravi.
Persons: Gilles Villeneuve, Sergio Perez, Helmut Marko, Evan Buhler, Marko, Perez, Max Verstappen, Sebastian Vettel, Mercedes, Toto Wolff, hasn't, Lewis Hamilton, McLaren, Zak Brown, Verstappen, Alessandro Alunni Bravi, Alan Baldwin, Ken Ferris Organizations: Prix, Grand Prix REUTERS, Rights, Red Bull, FIA, Singapore, Formula One, Mexican, One, Thomson Locations: Montreal, Canada, Rights SINGAPORE, Austrian, Mexican, Guadalajara, North America, Mexico, South America, London
The Volkswagen Type 2 bus, known for its split windows, rear engine and distinctive colors, is making a comeback. In 2024, Volkswagen will deliver its electric ID Buzz line to North America . From 1950 to 2003, four generations of the Type 2 bus were sold in the U.S., with nearly 1 million total deliveries, according to VW. "After the Eurovan, the minivan segment was sort of on the decline," said Jeffrey Lear, product manager of electric vehicles for Volkswagen of America. It is the bus segment."
Persons: Damon Ristau, Jeffrey Lear, Lear, We'll Organizations: Volkswagen, VW, America Locations: North America, U.S, America, Europe, American
In the almost-year since the historic climate bill was passed, 270 new clean energy projects have been announced with investments totaling $130 billion, according to a tally from Bank of America . Companies that build clean technology and their suppliers will be big winners as energy infrastructure goes through the transition from depending on fossil fuels to decarbonized sources of energy, a recent BofA research note said. In that research note, BofA identified stocks that stand to benefit from the IRA, organized by themes. The list includes only stocks that BofA has rated as "buy," and this list includes only those that have a climate tie-in. (The IRA also included some reforms to prescription drugs, but stocks related to those provisions are excluded here.)
Persons: Biden Organizations: Bank of America . Companies
While she had a positive experience, she decided not to send her own children to boarding school. I went to Phillips Exeter Academy , which is ranked by Niche as the third-best boarding high school in America . The school gave me extra confidence and a great education, but I don't think boarding school is the right fit for everyone. She had friends who sent their kids to boarding schools, and she wanted me to have that experience. My children are 10 and 12, and given their more comfortable upbringing, I couldn't picture sending them away to boarding school.
Persons: Kelly Johnson, Arbor, Phillips, didn't, Phillips Exeter, I'd, I'm, weren't, Exeter, I've Organizations: Service, Capital Poison Center, MedStar Georgetown University Hospital, Phillips Exeter Academy, Niche, East Coast, Andover, Harvard Locations: Wall, Silicon, Washington , DC, America, Anchorage , Alaska, Exeter , New Hampshire, Alaska, Exeter
Kelly Johnson-Arbor said boarding school stabilized her life and helped her overcome shyness. While she had a positive experience, she decided not to send her own children to boarding school. The school gave me extra confidence and a great education, but I don't think boarding school is the right fit for everyone. She had friends who sent their kids to boarding schools, and she wanted me to have that experience. My children are 10 and 12, and given their more comfortable upbringing, I couldn't picture sending them away to boarding school.
Persons: Kelly Johnson, Arbor, Phillips, didn't, Phillips Exeter, I'd, I'm, weren't, Exeter, I've Organizations: Phillips Exeter, Service, Capital Poison Center, MedStar Georgetown University Hospital, Phillips Exeter Academy, Niche, East Coast, Andover, Harvard Locations: Wall, Silicon, Washington , DC, America, Anchorage , Alaska, Exeter , New Hampshire, Alaska, Exeter
Solar panel manufacturer First Solar emerged as this week's biggest gainer, with shares surging 26.3% as of Friday morning. Approximately 41% of analysts covering the stock rate it a buy, according to FactSet. To be sure, the stock is already 2.6% above analysts' consensus price target. More than half of analysts covering Albemarle rate it a buy, according to FactSet data. The stock is up approximately 15% in 2023, and analysts estimate additional 6% growth, based on the average price target.
A bull and a bear on U.S. regional banks faced off on CNBC's " Street Signs Asia " on Thursday and shared their stock picks. 'Not the environment' for regional banks It's "not the environment" for regional banks right now, said Brian Stutland, portfolio manager at Equity Armor Investments. Stock picks For investors still keen on regional bank stocks, Marinac said his top two picks are Fifth Third Bancorp and First Citizens . First Citizens announced in late March that it will buy over Silicon Valley Bank's deposits and loans. He highlighted "the fact that [regional bank] stocks are down 40% when you've had earnings down about 5%.
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