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Advanced Micro Devices — The chipmaker dropped more than 1% after a Bank of America downgrade to neutral from buy. Interpublic Group of Companies , Omnicom Group — The stocks moved in opposite directions after the companies announced that Omnicom will acquire Interpublic in a stock-for-stock transaction . Following the announcement, shares of Interpublic jumped nearly 15%, while Omnicom shares fell about 3%. SoFi Technologies — The fintech stock slipped 2% after a downgrade to underperform from neutral at Bank of America. PayPal — Shares of the fintech company rose 2% after Bank of America upgraded the stock to buy from neutral.
Persons: Vivek Arya, Omnicom, Interpublic, Reddit, Morgan Stanley, Brian Nowak, SoFi, , Fred Imbert, Jesse Pound, Lisa Kailai Han, Sean Conlon, Samantha Subin, Michelle Fox, Hakyung Kim Organizations: Nvidia, Administration, Bank of America, Big Tech, U.S . Special, Command, Interpublic, of Companies, Omnicom, Dow, Macquarie Asset Management, U.S, Technologies, PayPal Locations: China, Gulf
Elon Musk's net worth keeps rising on the back of Tesla's stock surge since the election. Tesla stock closed on Friday at just over $389, pushing the EV maker's valuation to a new high. AdvertisementElon Musk just keeps getting richer following the postelection rally for Tesla stock. Musk is now worth $376 billion — $130 billion ahead of Amazon founder Jeff Bezos, who's worth $246 billion. His $376 billion net worth is about $30 billion higher than the market cap of Salesforce, valued at $346 billion — or $27 billion more than the combined wealth of Walmart heirs Jim, Rob and Alice Walton.
Persons: Elon, Jeff Bezos, Donald Trump's, Mark Malek, Trump, Tesla, Austin, BofA, Warren Buffett's, Berkshire Hathaway, Musk, Rob, Alice Walton . Organizations: SpaceX, Bloomberg, Amazon, Dow, Marketwatch, PAC, Bank of America, Optimus, Tesla Locations: Dow Jones, Berkshire, Delaware
European markets are expected to start the new trading week on a somber note, looking set to open in flat to lower territory Monday. Traders will be assessing geopolitical upheaval in the Middle East after the ousting of Syrian President Bashar al-Assad over the weekend. South Korea's Kospi stock index fell over 2% after President Yoon Suk Yeol survived an impeachment vote over the weekend. The November consumer price index, due out Wednesday, is expected to show a slight uptick in pricing pressures. Economists polled by Dow Jones expect a 0.3% and 2.7% monthly and yearly increase, respectively.
Persons: Germany's DAX, Bashar al, Assad, Yoon Suk Yeol, Dow Jones Organizations: France's CAC, IG, Traders, Nasdaq Locations: Europe, Asia, Pacific
Citigroup sets 6,500 target for S&P 500 in 2025
  + stars: | 2024-12-09 | by ( Brian Evans | ) www.cnbc.com   time to read: +2 min
The bank set a 6,500 target for the S & P 500 for 2025 as its base case. .SPX YTD mountain The S & P 500 is on pace to add more than 20% for the second-straight year. Citi's bull case has the S & P 500 scaling to 6,900, while its bear case calls for a pullback to 5,100. Chronert also forecast earnings growth of more than 13% for S & P 500 companies in 2025. Previous work showed that tariffs are likely to create a drag to earnings," Chronert said.
Persons: Donald, Scott Chronert, Chronert, Trump's Organizations: Citi, White, Nasdaq, Dow Jones
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. South Korea's president survives impeachment voteSouth Korean president Yoon Seok Yeol has survived an impeachment vote over the weekend after his ruling People's Power Party boycotted the vote. Court upholds law ordering TikTok sale in U.S.A federal appeals court upheld a law requiring China-based ByteDance to sell social media app TikTok next month or face an effective ban in the U.S. TikTok said that it will ask the U.S. Supreme Court to overturn the appeals court decision.
Persons: Bashar al, Assad, Syria's Assad, Bashar Al, Yoon Seok Yeol, TikTok Organizations: CNBC, Tass, RIA, South, People's Power Party, U.S, Supreme, Nasdaq, Federal Reserve, Dow Jones Locations: Hama's, Russia, Damascus, Syria, China, U.S
Traders works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 2, 2024. U.S. stock futures were little changed Sunday night after the S&P 500 and Nasdaq Composite posted their third straight winning week, ahead of key inflation data due out this week. Dow Jones Industrial Average futures rose by 11 points, or 0.02%. S&P 500 futures gained 0.02%, while the Nasdaq 100 futures was flat. The S&P 500 and Nasdaq closed at fresh records Friday, rising 0.96% and 3.34% for the week, respectively.
Persons: Dow, Wharton, Jeremy Siegel, CNBC's, Dow Jones Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, Reserve Locations: New York City, U.S
Technology stocks stood tall in the first week of December trading, helping the S & P 500 and Nasdaq Composite finish Friday's session at record closing highs. The S & P 500 closed nearly 1% higher. .IXIC .SPX 1M mountain The Nasdaq Composite versus the S & P 500 over the past month. Salesforce and Broadcom contributed to the S & P 500's technology sector being one of three to finish the week in positive territory, adding 3.4%. The remaining eight sectors in the S & P 500 ended the week lower, led to the downside by energy, utilities, and materials.
Persons: Brian Thompson, Dow Jones, , Salesforce, Apple, we'll, they'll, Jerome Powell's, LSEG, we're, We're, Morgan Stanley, OLLI, Buster's, Jim Cramer's, Jim Cramer, Jim, Michael Nagle Organizations: Nasdaq, Dow Jones, UnitedHealth, Dow, Federal, Commerce, Broadcom, Bloomberg, Apple, Tech, Tesla, Amazon, Netflix, Club, PPI, Costco, VMWare, Toll, Casey's, Academy Sports, Brands, GameStop, CNBC, Getty Locations: New York City, U.S, Wells, New York
The broad market S&P 500 climbed 0.25% to 6,090.27. The Dow Jones Industrial Average slipped 123.19 points, or 0.28%, to close at 44,642.52. The S&P 500 and Nasdaq went on to their third straight positive week as well, rising 0.96% and 3.34%, respectively. The unemployment rate nudged up to 4.2%, as expected. Following the not-too-hot, not-too-cold unemployment data, fed funds futures trading data reflected an 85% likelihood of another rate cut in two weeks to 85%, according to the CME Group’s FedWatch Tool.
Persons: Dow, Dow Jones, , Luke O’Neill, “ It’s, Jerome Powell Organizations: Nasdaq, Federal Reserve, Tech, Dow Jones, Dow, Catalyst Funds, Fed Locations: U.S
Tyler Richey called the S&P 500's surge to 6,000 back in February. AdvertisementBack in February, Tyler Richey laid out an argument for why the S&P 500 could climb all the way to 6,000. The Dow Jones Transportation Index had surged into the green for the year alongside the S&P 500, a sign that the economy was in a good place. And the S&P 500's relative-strength index had been above 70 for three weeks, which historically meant a rally could go on for much longer. Louis FedRichey's downside target is around 4,800, which would mean a 21% setback for the S&P 500 and a reversion to valuation norms.
Persons: Tyler Richey, Charles Schwab, Richey, isn't, Louis, Goldman Sachs, David Kostin, Rob Arnott, There's, David Rosenberg, Rosenberg Organizations: Dow Jones Transportation, JPMorgan, UBS, Trump, Board, Treasury, Consumers, Wall, Research
Here's our Club Mailbag email investingclubmailbag@cnbc.com — so you send your questions directly to Jim Cramer and his team of analysts. There are two high-level factors that determine an options price, intrinsic value and time value. How does an investor know if when buying stock, they are buying company shares or trading shares with other investors . In a prior mailbag answer (see an excerpt above), we talked about how to go about doing this analysis. In other words, the valuation — be it based on price-to-earnings or a discounted cash flow model — is far more important than the stock price.
Persons: Jim Cramer, — Richard L, it's, Vega, — Dan M, Michele T, Will, Felix M, That's, we're, — Rich, , Jim Cramer's, Jim, Jeffrey Coolidge Organizations: Theta, New York Stock Exchange, Nasdaq, Dow, Investing, Charitable, Jim Cramer's Charitable, CNBC, Iconica, Getty
The unemployment rate, however, edged higher to 4.2%, as expected. The unemployment rate rose as the labor force participation rate moved lower and the labor force itself declined. Other officials have said they see additional interest rate cuts as being likely but subject to changes in the economic data. At the same time, the October jobs report and various other reports have pointed to a labor market that is still growing but slowing. According to the BLS, household employment rose by 174,000 on the month even as the labor force contracted by 193,000.
Persons: Nonfarm, Dow Jones, Jerome Powell Organizations: of Labor Statistics, Traders
Traders in Asia assessed household spending data out of Japan. Spending grew 2.9% in October compared to the previous month, beating expectations of a 0.4% growth by economists polled by Reuters. Year-over-year, household spending fell 1.3% in October, less than an expected 2.6%. Japan's Nikkei 225 futures pointed to a higher open for the market, with the futures contract in Chicago at 39,405 and its counterpart in Osaka at 39,400 compared to the previous close of 39,395.60. Hong Kong Hang Seng index futures were at 19,637 higher than the HSI's last close of 19,560.4.
Persons: Richard A, Brooks, Australia's Organizations: Afp, Getty, Dow Jones, Traders, Reuters, Nikkei Locations: Tokyo, Asia, Pacific, Japan, Chicago, Osaka, Hong Kong
Workday shares pop 9% on inclusion in S&P 500
  + stars: | 2024-12-06 | by ( Jordan Novet | ) www.cnbc.com   time to read: +2 min
Workday shares jumped 9% in extended trading on Friday after S&P Dow Jones Indices said the cloud software vendor will be added to the S&P 500. The S&P 500 has added several other prominent technology stocks this year, including Dell and Palantir . Workday, founded in 2005 and based in Pleasanton, California, went public on the New York Stock Exchange in 2012. While more tech companies have been joining the S&P 500, not all of them have proven to be money makers for investors who buy index funds. Server maker Super Micro was added to the S&P 500 in March after a huge rally in the stock, driven by demand for Nvidia -based servers.
Persons: Dow, Carl Eschenbach, Aneel Bhusri, Eschenbach, Stocks, they're Organizations: Dow Jones, Amentum Holdings, Dell, New York Stock Exchange, Nasdaq, VMware, Sequoia Capital, Nvidia, Super Micro Locations: Pleasanton , California, 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. U.S. markets take a breatherThe S&P 500 slipped 0.19%, the Dow Jones Industrial Average lost 0.55% and the Nasdaq Composite retreated 0.18% as traders await today's jobs report. What to expect from U.S. jobs reportThe U.S. nonfarm payrolls report for November is coming out later today. Gold has long held a place in investors' portfolios as an asset that hedged against market swings and geopolitical instability.
Persons: nonfarm, , Dow Jones, Bitcoin, bitcoin, Donald Trump's, Paul Atkins, Jerome Powell's Organizations: CNBC, Dow Jones Industrial, Nasdaq, CAC, U.S, OPEC, Securities and Exchange Commission Locations: U.S, OPEC
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. 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. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.
Persons: Jim Cramer, Stocks, nonfarm, Dow Jones, Jan, Joe Biden, Donald Trump, Trump's, TikTok, Apple, It's, Jim Cramer's, Jim Organizations: CNBC, Meta, U.S ., Washington , D.C, Apple, Bloomberg, Qualcomm, Club, Broadcom, VMWare, Costco, Federal, Jim Cramer's Charitable Locations: Washington ,, China, United States
Next week's inflation data could derail a market that appears to be priced for perfection, ahead of the Federal Reserve's meeting later this month. To be sure, with some more risky parts of the market rallying, some investors worry the market is getting too frothy. Productivity final (Q3) Earnings: AutoZone Wednesday Dec. 11 8:30 a.m. Consumer Price Index (November) 8:30 a.m. Initial Claims (12/07) 8:30 a.m. Producer Price Index (November) Earnings: Broadcom , Costco Wholesale Friday Dec. 13 8:30 a.m. Import Price Index (November)
Persons: it's, Jay Woods, Oppenheimer, , Tom Lee, CNBC's, Capital's Woods, Woods, Cathie, Price Organizations: Fed, CPI, Freedom Capital, Fundstrat Global Advisors, Nasdaq, Dow Jones, Oracle, Adobe, Broadcom, Innovation, American Association of, Investors, Labor, Costco, Price Locations: Santa Claus
The average individual retirement account balance also rose 18% year over year to $129,200 in the third quarter of 2024. The average 401(k) plan balance ended the third quarter up 23% from a year earlier, at $132,300 — the highest average on record, according to a new report by Fidelity , the nation's largest provider of 401(k) plans. The number of 401(k) accounts with a balance of $1 million or more jumped to a record 497,000 as of Sept. 30, up 9.5% from the second quarter, according to Fidelity. Similarly, the number of IRA-created millionaires increased by nearly 5% to a record 418,111. Overall, the average 401(k) contribution rate, including employer and employee contributions, now stands at 14.1%, just below Fidelity's suggested savings rate of 15%.
Persons: Sharon Brovelli, Douglas Boneparth, Biden, Mike Shamrell, Shamrell Organizations: Fidelity, Fidelity Investments, Finance, Trump Employers, Nasdaq, Dow Jones Locations: New York
Meanwhile, the S & P 500 and the blue-chip Dow notched more record highs this week, powered by continuous strength from technology shares. Hartnett, a Bank of America investment strategist, said "froth" is gathering in crypto as bitcoin now exceeds a $2 trillion market value. The strategist said the risk of an "overshoot" is now "high" as the S & P 500 "melts" toward 6,666, around 10% from current levels. The Wall Street firm's Savita Subramanian had set her 2025 S & P 500 target at 6,666. The S & P 500 hit a new record again on Friday even as a better-than-expected jobs report could call into question whether the Federal Reserve should continue lowering rates in 2025.
Persons: Michael Hartnett, Dow, Hartnett, Savita Subramanian, Subramanian Organizations: Bank of America, Federal Reserve
The Wall Street chatter on the November jobs report
  + stars: | 2024-12-06 | by ( Fred Imbert | ) www.cnbc.com   time to read: +3 min
The U.S. economy added 227,000 jobs last month, exceeding the Dow Jones estimate of 214,000. In fact, the probability of a Fed rate cut soared to nearly 90% following the data release, according to fed funds futures data via the CME FedWatch tool. Labor demand is slowing, as evidenced by the rise in unemployment rate and the surprisingly limited revisions from weather and strike effects last month. This big rebound from a distorted October read is actually quite balanced and should relieve some economic concerns, as well as keep the December 18th rate cut expectations on track." Elsewhere Friday morning on Wall Street, Goldman Sachs upgraded Robinhood to buy from neutral, citing the company's growth plans.
Persons: Dow Jones, That's, Lindsay Rosner, Seema Shah, Ian Lyngen, Chris Zaccarelli, Adam Hetts, Janus Henderson, Trump, Goldman Sachs, HOOD, James Yaro Organizations: Dow, Federal Reserve, CME, Goldman Sachs Asset Management, Asset Management, Labor, BMO, Northlight, TAM Locations: U.S
Nonfarm payrolls increased by 227,000 for the month, compared to an upwardly revised 36,000 in October and the Dow Jones consensus estimate for 214,000. The unemployment rate, however, edged higher to 4.2%, as expected. The unemployment rate rose as the labor force participation rate edged lower and the labor force itself declined. The survey of households, which is used to calculate the unemployment rate, painted a similar picture as the establishment survey that provides the headline payrolls count. According to the BLS, household employment rose by 174,000 on the month even as the labor force contracted by 193,000.
Persons: Nonfarm, Dow Jones, Job, Jerome Powell Organizations: of Labor Statistics, Stock, Traders
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. This market has been "taken over by the bulls," Jim Cramer said Friday, citing a better-than-expected November jobs released Friday as one catalyst. If beer companies are exempt from the tariff increases, Constellation stock "is very very primed to go much higher," he noted. 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 .
Persons: Jim Cramer, Jim, Needham, Donald Trump's, Stocks, Jim Cramer's Organizations: CNBC, Nasdaq, Dow Jones, Reserve, FedWatch, Constellation Brands, Costco, Club, Broadcom, Hewlett Packard Enterprise, Deere Locations: U.S
The S & P 500 soared to all-time highs this week as investors eagerly snapped up stocks, but some names might be overbought and due for a pullback. Take a look at the broader market's most overbought names below, with week-to-date data current as of Friday morning: Walmart is the most overbought name on the list with an RSI of about 83.3. Netflix , another popular stock, is also considered overbought given its RSI of more than 76. Other overbought stocks include Palantir , United Airlines and Take-Two Interactive Software . The stocks have lost more than 3% and over 2% this week, respectively, and are in the red for the year.
Persons: WMT, Robert Ohmes, Jason Bazinet, Palantir, Booz Allen Hamilton, Kraft Heinz, Mondelez, Kraft, Piper Sandler, Robert F, Kennedy Jr, Donald Trump, Johnson Organizations: Nasdaq, Dow Jones, CNBC Pro, Walmart, Bank of America, Netflix, Analysts, Citi Research, United Airlines, Booz, Department of Health, Human Services, Holdings, Johnson Locations: Thursday's, Canada, United
Hearing from Honeywell: Honeywell CEO Vimal Kapur on Thursday spoke publicly for the first time since activist investor Elliott Management initiated a more than $5 billion stake in the industrial conglomerate and called for a break up of the company. On Thursday, Waymo said it plans to launch its robotaxi service in Miami in 2026 through its Waymo One app. 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, We've, Vimal Kapur, Elliott, Kapur, Goldman Sachs, Bombardier's, It's, it's, LeBron James, Waymo, Jim, Sundar Pichai, doesn't, Hewlett, Dow Jones, Jim Cramer's Organizations: CNBC, Nasdaq, Dow Jones, Ball Corporation, Honeywell, Elliott Management, Materials Conference, Bombardier, LeBron, San Francisco, Hewlett Packard Enterprise, Jim Cramer's Charitable Locations: Tesla's, Nucor, Beach, Miami, Austin, Atlanta, Los Angeles, U.S, Waymo, Phoenix, San Francisco
U.S. Treasury yields rise with investors eyeing jobs data
  + stars: | 2024-12-05 | by ( April Roach | ) www.cnbc.com   time to read: 1 min
U.S. Treasury bond yields rose Thursday as investors digested a weaker-than-expected jobs report and looked ahead to further economic data due this week. The 10-year Treasury yield was more than 2 basis points higher at 4.2090%. The 2-year Treasury note yield was up more than 2 basis points at 4.1502%. Traders will be focusing on the latest initial jobless claims data due to be released on Thursday at 8:30 a.m. Nonfarm payrolls data for November is due out on Friday morning.
Persons: Dow Jones Organizations: New York Stock Exchange, Treasury, Traders
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 22, 2024. Stock futures were near the flatline Thursday night as investors awaited key payrolls data. Futures tied to the Dow Jones Industrial Average dipped 21 points, or less than 0.1%. S&P 500 futures edged slightly lower, while Nasdaq 100 futures shed 0.1%. Stocks closed Thursday's session lower, retreating from records the major indexes hit in the previous session.
Persons: DocuSign, Dow Jones, Charlie Ripley, Jerome Powell, Dow Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Ulta, Allianz Investment Management Locations: New York City, U.S, payrolls
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