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☆ All eyes on this level for small caps that could unleash another 5% to 10% upside
▼ + stars: | 2024-11-14 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

Small-cap stocks could see a monster rally ahead if they break above a key level. The Russell 2000 hit a high of 2,441.72 on Monday, just a hair below the November 2021 closing high of 2,442.74 before pulling back Tuesday and Wednesday. Small caps have been on a tear since the presidential election last week, after Donald Trump secured a second term. The Russell 2000 is up about 4.5% since the election, outperforming its large-cap counterparts. .RUT 5Y bar Russell 2000 less than 1% from record The technical strategist noted that move may not happen immediately.

Persons: Russell, Wolfe, Rob Ginsberg, Donald Trump, Yun Li Organizations: Wolfe Research, Dow Jones, Nasdaq

☆ Dwayne Johnson once fired his agents because they didn't agree he could be bigger than Will Smith and George Clooney. Now his movies have made more money than both.
▼ + stars: | 2024-11-12 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +3 min

Dwayne Johnson's goal was once to be a bigger star than George Clooney and Will Smith. GQ reported Johnson fired agents who didn't agree with his ambition. AdvertisementDwayne Johnson said he used to hope he would be a bigger star than George Clooney or Will Smith. From 2012 to 2020, Johnson appeared on Forbes' highest-paid actor list, and above Smith and Clooney in 2016, 2019, and 2020. "You reach a point in life where on the other side of running, it's the stuff you love," Johnson said.

Persons: Dwayne Johnson's, George Clooney, Will Smith, Johnson, —, Dwayne Johnson, Zach Baron, Clooney, Smith, Gabe Ginsberg, I'm Organizations: GQ, Service, IMDB Pro, Forbes Locations: Canada

Trump picked up a larger portion of voters under 30 than any Republican presidential candidate since 2008, according to NBC News exit polling, improving with both young men and young women. In 2020, President Joe Biden beat Trump by 11 percentage points among young men; this year, Trump beat Kamala Harris by 2 points. Among young women, Biden’s 35-point lead over Trump in 2020 shrunk to a 24-point lead for Harris. Among young white men without college degrees, Trump beat Harris, 56% to 40%. “Every candidate and party had an opportunity to really listen to young voters and hear what they really wanted,” Kawashima-Ginsberg said.

Persons: Donald Trump’s, “, Adin Ross, Theo Von, Bussin, Joe Rogan, ” Dana White, Trump, Joe Biden, Kamala Harris, Harris, “ it’s, ”, Kei Kawashima, Ginsberg, Young, Kawashima, Rogan, influencers, Jake Paul, ” Kawashima, Ryan Jones, Jones, would’ve, Jaiveer Bajwa, Kaeli Bennet, Barron Trump, Joe Rogan’s, Barron, Sobolewski, Von, ” Trump, Von’s, Alex Cooper’s “, Gen, Harris ’, Anil Cacodcar, you’re, ” Cacodcar Organizations: Trump, Republican, NBC, Tufts University’s Center for Information, Research, Civic, Edison Research, Harris ’, Trump ., YouTube, Harvard, Biden Locations: United States, Pennsylvania, Ohio

☆ How Donald Trump is laying the groundwork to dispute the election results – again
▼ + stars: | 2024-11-03 | by ( Jeremy Herb | ) edition.cnn.com time to read: +18 min

Election officials warn they’re outmatched and struggling to combat the wave of falsehoods coming from Musk and his platform. Manipulating early voting numbersIn 2020, Trump attacked early voting and mail-in voting, claiming they were used to cheat. Election officials have been inundated with threats of violence since the 2020 election. But Trump and his allies have been laying the groundwork to try to dispute the election should he lose. In Georgia, conservatives sought to allow county election officials to refuse to certify the election results, though the effort was blocked by a state judge.

Persons: Donald Trump, Trump, He’s, he’s, Kamala Harris, “, ”, Ben Ginsberg, you’re, they’re, Justin Levitt, ” Levitt, hasn’t, Elon Musk, they’re outmatched, Musk, it’s, –, Kathy Boockvar, Boockvar, Athena, doesn’t, Elon, what’s, Jocelyn Benson, ” Musk, Benson, Lara Trump, CNN’s Donie O’Sullivan, Ruth Greenwood, Harris, Michael Morley, ” Trump, Glenn Youngkin, They’ve, Andy Harris, Hurricane Helene, Ginsberg, ” CNN’s Yahya Abou, Ghazala, Sarah Boxer, Pamela Brown, Ethan Cohen, Marshall Cohen, Zachary Cohen, Devan Cole, Daniel Dale, Curt Devine, Danny Freeman, John Fritze, Brian Fung, Majlie, Puy, Holmes, Lybrand, Sean Lyngaas, Sara Murray, Paula Reid, Fredreka Schouten, Tierney Sneed, Donie O’Sullivan, Casey Tolan Organizations: CNN, noncitizens, Republican, Loyola Law School, Biden White, Elon, Democrat, Benedictine, Republicans, Republican National Committee, Trump, Harvard Law School, RNC, Democratic, Florida State University College of Law, ” Republicans, Virginia Republican Gov, Justice Department, FBI, Department of Homeland Security, Capitol, Maryland GOP, North, GOP, Republican National Locations: American, Florida, Pennsylvania Pennsylvania, Allentown , Pennsylvania, Lancaster County, Lancaster, Pennsylvania, Erie County, Erie, Bucks, Michigan, Texas, Alabama, Georgia, Allegheny County, Portland , Oregon, Vancouver , Washington, Maryland, North Carolina, Hurricane

☆ Why experts are skeptical of Elon Musk’s lofty pro-Trump predictions based on early vote data
▼ + stars: | 2024-10-30 | by ( Marshall Cohen | Ethan Cohen | ) edition.cnn.com time to read: +6 min

Partisans from both sides routinely cite early voting data to promote their candidates and express optimism or try to juice turnout based on supposedly weak numbers. Like many political observers, including at CNN, Musk has noticed the better-than-2020 GOP performance in early voting in North Carolina, Nevada and other key states. Registered Republicans make up about 32% of the early vote in Pennsylvania so far, up from 21% at this point in 2020. The improved GOP position in early voting that Musk highlighted is happening in other states as well. Not all registered Republicans will vote for Trump, and not all registered Democrats will back Harris.

Persons: Elon Musk, Donald Trump, Kamala Harris, ”, won’t, David Becker, Trump, Musk, ” Becker, would’ve, isn’t, Ben Ginsberg, “, ” Ginsberg, Harris, ” Isaac Saul Organizations: CNN — Tech, –, Election Innovation, Research, Trump, ” Trump, CNN, Musk’s, Pennsylvania, Republican National Committee Locations: Pennsylvania, Virginia, Pennsylvania –, North Carolina , Nevada, New Jersey, Catalist, North Carolina, Arizona

☆ Tech stocks could be in for a reckoning, this chart shows
▼ + stars: | 2024-10-28 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Since then, the XLK is down 6% relative to the broad market index. "The level it peaked at almost exactly coincides with where the Tech ETF peaked on a relative basis in 2000. Not exactly what you want to see if you're an investor putting new money to work within Tech," he wrote. The SMH closed Friday at $252.96, and the strategist expects the $233 level to be tested near term. "We still exercise some degree of caution when we view Technology stocks, as short term trends and near-term momentum appear to be stalling," O'Hara wrote.

Persons: Wolfe, Rob Ginsberg, Ginsberg, Roth MKM, JC O'Hara, O'Hara, Wells Organizations: Wolfe Research, Tech ETF, VanEck Semiconductor, Nasdaq, Dow Jones, Microsoft, Apple Locations: Wells Fargo

☆ These dividend-paying stocks could be in the 'early innings' of a rally
▼ + stars: | 2024-10-18 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

"As evidenced by XLV [Health Care Select Sector SPDR Fund], price is back through the 50 day [moving average] on this relief rally," he said. "Not yet overbought, it looks to us like the early innings of a reacceleration back towards the highs. XLV YTD mountain Health Care Select Sector SPDR Fund year to date On top of that rally is the added benefit of dividend payouts on many health care stocks. At least 51% of the Wall Street analysts who cover each stock rates it a buy, according to FactSet data. CI YTD mountain Cigna year to date Cigna beat earnings and revenue estimates in its second quarter when it reported results in August.

Persons: Rob Ginsberg, Abbott, Robert Ford, Dickinson, Cigna, Lina Khan, Merck Organizations: Wolfe Research, SPDR, CNBC Pro, Wall Street, nab, Abbott Laboratories, Company, Cigna's, Federal Trade Commission, CVS Health, UnitedHealth, Merck, Co Locations: . Connecticut

While "boring" bitcoin has been chopping sideways since March, bitcoin proxy MicroStrategy is trading at its highest level relative to the flagship crypto since 2019. Wolfe Research managing director Rob Ginsberg said he "loves [MicroStrategy's] chances to get out and continue climbing," but that the stock is overbought in the near term. "On a relative basis vs. BTC, the stock is at its highest level since 2019," Ginsberg added. Bitcoin is up 41% for the year, while MicroStrategy has gained 193%. MicroStrategy, which tends to be a high beta play on the cryptocurrency, is expected to follow.

Persons: Rob Ginsberg, MARA, MSTR, Ginsberg, Price, Wolfe, MicroStrategy, bitcoin, — CNBC's Michael Bloom Organizations: Wolfe Research, BTC Locations: pullbacks, MSTR, bitcoin

☆ Stock market volatility ahead of presidential elections typically starts picking up right now
▼ + stars: | 2024-10-07 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Market volatility will likely increase from here as the race for the White House enters its final weeks, according to Wolfe Research. Technical strategist Rob Ginsberg tracked the average move of the CBOE Volatility Index (VIX) during a presidential election year. With momentum rolling over and several sectors seeing healthy pullbacks of late ... we feel the S & P is overdue for another 3 – 4% correction." To be sure, any troubles in the market into Election Day would mark a turn after an unusually strong year. Notably, Bespoke Investment Group found the S & P 500 notched its largest gain over the first nine months of a year since 1997.

Persons: Brace, Rob Ginsberg, bode, Ginsberg, What's Organizations: White, Wolfe Research, Traders, Nasdaq, Dow Jones, Investment, Carson Group Locations: Israel

☆ Bitcoin is flipping in and out of 'bear' mode but could still reach $100,000 this year
▼ + stars: | 2024-10-04 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Bitcoin investors are grappling with a demand dearth that has pushed the cryptocurrency into bear market territory at times. (In the first quarter, bitcoin ETFs bought about 9,000 BTC daily on average, following their January launch.) In the fourth quarters of 2012, 2016, and 2020 — the previous Bitcoin halving years — bitcoin prices rose by 9%, 59%, and 171%, respectively. The most recent halving — the supply cutting event that takes place every four years — happened this April. BTC.CM= YTD mountain Bitcoin (BTC) year-to-date Bitcoin is set up well for the final quarter , but it's still working through a supply overhang from the U.S. and German governments as well as Mt.

Persons: It's, John Todaro, Needham, uptrend, it's, Wolfe, Rob Ginsberg, Owen Lau, Oppenheimer Organizations: CNBC, BTC, Federal Reserve, U.S Locations: China, U.S

☆ Press freedom group warns a Trump victory could embolden attacks on journalists
▼ + stars: | 2024-10-01 | by ( Brian Stelter | ) edition.cnn.com time to read: +4 min

New York CNN —Next month’s presidential election could make America’s hostile media climate even worse for journalists. That’s the takeaway from a new Committee to Protect Journalists report about the state of press freedom in the US. The Committee to Protect Journalists has historically called attention to journalists being arrested and killed in repressive regimes. According to the US Press Freedom Tracker, assaults on journalists in the US have soared by more than 50% in 2024 compared to last year. The Committee to Protect Journalists said the “corrosive political environment” has intensified safety concerns for journalists – forcing newsrooms to conduct safety assessments, evaluate online threats, and hire extra security.

Persons: ”, Katherine Jacobsen, Amanda Andrade, Rhoades, Jacobsen, Donald Trump –, Biden, “, ” Jacobsen, Trump, newsrooms, we’ve, ” Bruce Shapiro, Jodie Ginsberg, Kamala Harris Organizations: New, New York CNN, Protect Journalists, “ Media, Capitol, The Washington Post, Trump, US Press, Comcast, Dart Center for Journalism, Columbia University, Democratic party’s Locations: New York, United States

☆ Utilities are the hottest part of the stock market right now, on track for their best year since 2000
▼ + stars: | 2024-09-28 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Utility stocks this year have mounted a rally unseen in more than two decades. In the third quarter, utilities are the best out of 11 sectors that comprise the S & P 500, climbing 18%. As a group, utilities are poised to score their largest quarterly gain since George W. Bush was president in 2003. If that holds through yearend, utilities will see their biggest annual advance since 2000, when they surged more than 50%. "Utilities are the hottest sector in the market currently," Wolfe Research Rob Ginsberg said in a note to clients in August.

Persons: George W, Bush, Wolfe, Rob Ginsberg, hasn't, It's, buildout, Ginsberg, Subramanian, Wells Fargo, Christopher Harvey, Harvey, LSEG Organizations: Utilities, Federal Reserve, Bank of, Nasdaq, Bank of America, Constellation Energy, CenterPoint Energy Locations: yearend, The Texas, Houston

JERUSALEM — Almost 12 months of unbridled war, death, destruction and suffering in Gaza have proved the deadliest conflict on record for journalists. One year in, NBC News has spoken to 21 media professionals and organizations in the region who described killings, attacks and arrests by Israeli forces. The majority, 111, were Palestinians killed in Gaza, three were Lebanese and two were Israeli journalists killed by Hamas militants on Oct. 7. The majority were killed in Gaza, including Al Jazeera’s Ismail Al-Ghoul and his freelance cameraman Rami Al Refee, both 27. “The thing is no one is safe in Gaza,” she said last month when asked if she thought Israel was deliberately targeting journalists in Gaza.

Persons: JERUSALEM, “, ”, Christina Assi, Dylan Collins, shellfire, Alma Al, Issam Abdallah, Alessandra Galloni, Emilie Madi, Assi, Collins “, ” Assi, Collins, that’s, It’s, Al Jazeera’s Ismail Al, Ghoul, Rami Al Refee, Al, Al Jazeera, ” Al, Jodie Ginsberg, ” Walid, Al Jazeera’s, Israel, ” Wael Al, Hamza, Mustafa Thuraya, Israel’s, ” Al Jazeera, Shlomo Karhi, Noor Harazeen, you’re, Yarden, we’re, David Mencer, Benjamin Netanyahu’s, Harazeen, “ They’re Organizations: NBC, Committee, Protect Journalists, Reuters, ” Reuters, AFP, Getty, Agence France Presse, Amnesty International, Human Rights Watch, Rights Watch, Amnesty, Israel Defense Forces, NBC News, Al, IDF, News, West Bank, China Global Television Network, ” Health, Haaretz, Sky News Locations: Gaza, New York, Israel, Alma, Lebanon, Saaideh, Israeli, Hamas, Al Jazeera, Ramallah, Jordan, East Jerusalem, Egypt, ”, British

☆ Bitcoin rallied on Thursday, but recent history says this pop will fade as well
▼ + stars: | 2024-09-26 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin rallied on Thursday, but if trading this year is any guide, this pop will be one to fade. Bitcoin is down 13% from its March 13 record and ether has tumbled 34% in the same period. With a year-to-date gain of 50%, bitcoin is considered to be in a bull cycle that began in March 2023. The most recent Bitcoin halving took place in April, and the post-halving highs historically don't come until about 18 months after the supply cutting event . Between the popularity of bitcoin ETFs that launched in January, the slowing of the bitcoin supply and a slew of other macro and micro catalysts, many traders are holding out for a price surge.

Persons: Bitcoin, it's, Wolfe, Rob Ginsberg, Ginsberg Organizations: Federal Reserve, BTC, Securities, Exchange, & $

☆ One of the top-performing sectors could be heading for trouble
▼ + stars: | 2024-09-26 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The communications services sector has been on an unbelievable tear for nearly two years. Since hitting a low on October 2022, the Communication Services Select Sector (XLC) has nearly doubled, outperforming the S & P 500 in that time. "The smallest sector in the market (by constituents not value) has been one of the most dominant over the past two years," wrote Wolfe Research's Rob Ginsberg. Our sense is that is better for sale here," Ginsberg wrote. Elsewhere on Wall Street this morning, Bernstein upgraded Starbucks to outperform from market perform.

Persons: Wolfe, Rob Ginsberg, Ginsberg, Bernstein, Brian Niccol, Danilo Gargiulo Organizations: Communications, Netflix, Taco Bell Locations: GOOGL

☆ Analysts warn Coinbase could slump after crypto exchange scored a 6-day rally
▼ + stars: | 2024-09-25 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Analysts are warning that Coinbase could be entering a down trend after the stock scored a six-day-long advance. In early trading Wednesday, Coinbase rose as much as 1.3%, paving the way for what may be its seventh straight gain. "Coinbase looks very toppy to me as the recent bounce out of the oversold condition looks to be stalling out," Wolfe Research macro strategist Rob Ginsberg told CNBC. Lau also cited muted trading volume on crypto exchanges and pressure on subscription and services revenue due to the declining interest rate outlook. But cryptocurrency "trading volume could jump" when interest rates move even lower and if bitcoin again challenges its all-time high, Lau noted.

Persons: Coinbase, Wolfe, Rob Ginsberg, Tamplin, Owen Lau, Oppenheimer, Lau, bitcoin, Bitcoin, Nick Wells Organizations: Wolfe Research, CNBC Locations: bitcoin

☆ This sector that's been struggling in recent years is about to break out
▼ + stars: | 2024-09-25 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Fintech stocks have been in a rut since 2021. Wolfe Research technical strategist Rob Ginsberg pointed out the Global X FinTech ETF (FINX) is close to reaching the $30 level for the first time since 2022. The FINX ETF illustrates this well. This year, the ETF has made some progress, rising more than 9%, as the Fed begins its policy easing campaign. FINX mountain 2021-11-01 FINX since Nov. 2021 A breakout could have broader implications outside of fintech.

Persons: Wolfe, Rob Ginsberg, It's, Tim Long, HPE Organizations: Wolfe Research, Federal Reserve, Fed, Dow Jones, CNBC, New York Stock Exchange, Barclays, Hewlett Packard Enterprise, Juniper Networks Locations: fintech

ANN ARBOR, Mich. — Battleground state election officials from both parties are pushing back against a falsehood that has proven pervasive ahead of the 2024 reaction: that noncitizens are voting in widespread numbers. The comments came as former President Donald Trump and his GOP allies have talked up efforts to crack down on noncitizens voting, which is already illegal. Maricopa County has sued seeking clarity on whether those voters can vote in state and local elections this fall. Republicans at the national and state level have fueled unfounded noncitizen voting claims in the run-up to this year's presidential election. Election officials said Thursday they were taking steps to debunk conspiracy theories ahead of the 2024 election.

Persons: Donald Trump, “, ”, Al Schmidt, Schmidt, they’re, Jocelyn Benson, Benson, ” Benson, —, Bob Bauer, Ben Ginsberg, Brad Raffensperger, ” Raffensperger, we’re, Mike Johnson, Ken Paxton, they're, it's, Karen Brinson Bell, It's, Stephen Richer, Katie Hobbs, Richer, Kim Pytleski Organizations: GOP, Department of Transportation, The, Republican, Republicans, Texas, Arizona Gov Locations: Mich, —, Pennsylvania, Philadelphia, Michigan, American, Arizona, Maricopa County, Georgia, Oconto County , Wisconsin

☆ Stocks are near record highs despite turmoil and 'erratic price action'
▼ + stars: | 2024-09-13 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The S & P 500 and Nasdaq Composite are headed for their fourth weekly gain in five weeks, up 3.5% and 5.3%, respectively. Those gains have come even after a massive but brief intraday sell-off Wednesday — which was quickly erased after the S & P 500 stayed above a key level. .SPX 5D mountain SPX 5-day chart Indeed, after all the wild swings, the S & P 500 is a scant 1.2% below an intraday record of 5,669.67 reached in July. "Erratic price action in equities suggests confusion amid ever changing market narratives," Cau wrote. "Therefore, equity price action may stay volatile and data dependent, until we get more clarity on the economic outlook."

Persons: Rob Ginsberg, Emmanuel Cau, Cau Organizations: Nasdaq, Dow Jones, Wolfe Research, Fed, Barclays Locations: U.S

☆ Beware of a bitcoin backslide to $50,000 as it enters historically worst month of the year
▼ + stars: | 2024-09-02 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Bitcoin slid 10.25% for its worst month since April, while ether dropped 23.66% in its third monthly drawdown and worst month since June 2022. "It's not a pretty picture across the crypto landscape at the moment," said Rob Ginsberg, chart analyst at Wolfe Research. "Bitcoin is still stuck in a descending trading range as price gradually deteriorates off the March high. Historically, September is the worst month for bitcoin — and other markets too, like U.S. stocks. Bitcoin has been stuck in a range between $50,000 and $70,000 since April and is likely to stay there for another a month at least.

Persons: Bitcoin, bitcoin, Rob Ginsberg, Ginsberg, bitcoin —, they've, Alex Thorn, Thorn, Trump, Harris, John Todaro, — CNBC's Michael Bloom, Nick Wells Organizations: Wolfe Research, bitcoin, Galaxy, U.S, Needham, Federal Locations: U.S, Germany, Gox

☆ Trump’s continued attacks on Harris’ rise stir fears he could question election outcome if he loses in November
▼ + stars: | 2024-08-14 | by ( Eric Bradner | ) edition.cnn.com time to read: +5 min

But some of Trump’s critics warn that the former president could be laying the groundwork to question the outcome of the 2024 election if he loses a second time. Convention delegates held a virtual roll call ahead of the convention, with Harris receiving 99% support from the participating delegates. Republicans have acknowledged that after the DNC vote, there is no longer any path to challenge Harris’ placement on ballots. One of Trump’s intraparty foes said the former president’s efforts to question the legitimacy of Harris as the Democratic nominee could be a way to lay the groundwork to question the legitimacy of this year’s election. He also criticized Democrats in a news conference last week, stating that Harris taking over from Biden “seems to me, actually, unconstitutional.

Persons: CNN — Kamala Harris, Donald Trump, ”, Harris, Joe Biden’s, Tim Walz, “, hasn’t, Trump, Biden –, Biden, he’s, ” John Bolton, CNN’s Kaitlan Collins, ” Bolton, Elon Musk, ‘, ’ ” Trump, Biden “, it’s, Mike Johnson, CNN’s Jake Tapper, ” Johnson, Johnson, CNN’s Manu Raju, ” Ben Ginsberg Organizations: CNN, Democratic, Democratic National Committee, Minnesota Gov, Republicans, DNC, Trump, Louisiana Republican, Republican Locations: Chicago, United States, “, Florida, Montana

☆ U.S. crude oil trades near a three-week high after rally fueled by Israel-Iran tension
▼ + stars: | 2024-08-13 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

U.S. crude oil prices traded close to a three-week high Tuesday, after rallying on Monday in anticipation of an attack by Iran against Israel that could play havoc with Mideast production and transportation. Here are Tuesday's energy prices:"These risks remain low-probability events, which helps explain the modest increase in prices," Gloystein wrote. But prices eased slightly Tuesday as a strike by Iran had not yet materialized. Rob Ginsberg, managing director at Wolfe Research, said U.S. crude could rise above a resistance level of $84 per barrel. "Once out, mid to high $90s isn't crazy," Ginsberg said.

Persons: Henning Gloystein, Gloystein, Rob Ginsberg, Ginsberg Organizations: Eurasia Group, International Energy Agency, OPEC, U.S, Wolfe Research Locations: Iran, Israel, Hormuz, Brazil, Canada, Guyana, China

☆ Falling commodity prices are indicating there is trouble brewing with the economy
▼ + stars: | 2024-08-12 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

Commodity prices have tumbled over the past month, signaling underlying weakness in the global economy despite the U.S. stock market bouncing back from recession fears. But commodity markets may be telling a different story about the global economy. The Invesco DB Base Metals Fund is down more than 7% over the past month, while crude oil futures dropped 14% from July 5 through Aug. 5. @HG.1 YTD mountain Copper futures, YTD Weakness in China, the world's second-largest economy, is weighing on copper and oil in particular, Melek said. OPEC on Monday lowered its global oil demand growth forecast this year by 135,000 barrels per day as expectations in China have softened.

Persons: Rob Ginsberg, Ginsberg, Bart Melek, DBB @HG, We've, Melek, I'm Organizations: U.S, Investors, Invesco DB Base Metals, Wolfe Research, TD Securities, DBB, Metals, Copper, CNBC, Global, Beijing, European Union, World Trade Organization, Federal Reserve, Securities Locations: U.S, China, Beijing, Jackson Hole , Wyoming

☆ The hedge fund trade unwind that jolted Wall Street this week may continue to agitate markets
▼ + stars: | 2024-08-09 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

The recent unwinding of the yen "carry trade" could remain a long-term headwind amid already turbulent markets. JPY= YTD mountain The Japanese yen's appreciation against the U.S. dollar marked the unwinding of the so-called carry trade. "There's still quite a significant yen short position out there," Osborne said. He estimates that there is still a roughly $15 billion yen short position through July 30, still to be covered. In other words, that short position could drive more strength in the yen as that position is covered.

Persons: —, Shaun Osborne, Osborne, Everyone's, Rob Ginsberg, Ginsberg, FedWatch, Ben Emons Organizations: Bank of, U.S, Scotiabank, U.S . Federal Reserve, Bloomberg, Wolfe Research, Swiss Locations: Bank of Japan, Japan

☆ The bitcoin bounce could give way to a deeper pullback, chart analysts say
▼ + stars: | 2024-08-09 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Bitcoin has clawed back most of its weekly losses after an 11% rally late Thursday, but it is not out of the woods yet, according to chart analysts. "Bitcoin got nicely oversold after slicing through $53,000 [Monday], so a little relief is in order," Ron Ginsberg, a chart analyst at Wolfe Research, told CNBC. It now needs to hold that level on a consecutive weekly closing basis, Fairlead Strategies' Will Tamplin told CNBC. "Our intermediate-term metrics for bitcoin point lower, so we would look for a bounce to give way to a deeper pullback" to near $51,500, he said. "A cyclical uptrend remains in place for bitcoin, although long-term upside momentum behind the uptrend has slowed due to its corrective phase."

Persons: Bitcoin, Ron Ginsberg, Ginsberg, Will Tamplin Organizations: Metrics, Wolfe Research, CNBC

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