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☆ US stocks rally as investors brace for presidential election outcome
▼ + stars: | 2024-11-05 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN —US stocks rallied Tuesday as Wall Street awaited the results of a closely contested presidential race. “While it’s still anyone’s call on where the chips will fall on the election, putting it behind in either direction is a relief.”Historically, stocks have often risen on Election Day. This marks the sixth-straight Election Day gain for the S&P 500 and Nasdaq. “With Election Day finally here, expect more market volatility, particularly if the wait for a result is long or contested. Just two days after Election Day, the Federal Reserve will announce its latest interest rate decision, the first since cutting rates by half a point.

Persons: Dow, ”, Louis Navellier, Kamala Harris, Donald Trump, Joe Biden, George W, Bush, Al Gore, Adam Turnquist, Gore, ” Turnquist Organizations: New, New York CNN, Nasdaq, Navellier, Associates, LPL, Federal Reserve Locations: New York

☆ Investors are better off keeping politics at the polls. Here’s why
▼ + stars: | 2024-11-05 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +4 min

Still, investors don’t appear to be letting their jitters get to them — at least not entirely. “Valuations at the market level and individual stock level are always the key to long-term performance. You may have a lot of noise in the short term, but for long-term investors, it’s always going to be all about valuation,” he said. An election year analysis from Danny Noonan at Morningstar Wealth found that investors are significantly better off in the long run if they ignore politics. For investors, that suggests the best strategy may be to keep calm, trade on — and leave the politics at the polling place.

Persons: ”, Keith Lerner, Wall, Helene, Milton, Lerner, Kamala Harris, Donald Trump, Brent Schutte, Dave Sekera, it’s, Danny Noonan, Noonan Organizations: New, New York CNN, Federal Reserve, Northwestern Mutual Wealth Management Company, Morningstar, Morningstar Wealth, Democrat, Republican, they’d Locations: New York, United States

☆ Q3 Earnings: Welcome to the ‘show me the money’ quarter
▼ + stars: | 2024-10-26 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

In what some analysts are calling the “show me the money” quarter, most of the major US tech titans will report earnings during Halloween week. “Tech companies have been spending billions on AI like kids in a candy store,” said David Laut, chief investment officer at Abound Financial. “Now investors want to see what they’re getting for their money.”Earnings season for tech got off to a strong start Wednesday evening when Tesla surprised Wall Street with better-than-expected earnings. The results sent Tesla’s shares surging more than 11% in after-hours trading, potentially setting a positive tone for next week’s parade of tech earnings. But there’s more spooking Wall Street than just tech earnings.

Persons: ”, David Laut, Tesla, Tesla’s, Jim Reid, Dan Ives Organizations: New, New York CNN, Google, Microsoft, Meta, Apple, Nvidia, “ Tech, “, ChatGPT, Reserve, Deutsche, Wedbush Securities Locations: New York, Canada, France

☆ The last time markets were this good was 20 years ago. Can we keep it up?
▼ + stars: | 2024-10-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

Until this week’s pullback, the market’s recent performance told a remarkable story. The S&P 500 rose for 37 of the last 51 weeks, matching a record reached in both 1989 and 2004. Political uncertaintyWith polls showing a tight race for the White House, investors have been increasingly on edge about the prospect of former President Donald Trump winning the election. While polls remain effectively dead even, political betting markets have swung in Trump’s favor since the start of this month. Deutsche Bank analysts warn that the recent rally may be difficult to sustain given these historically high valuations.

Persons: Donald Trump, Trump, ” Steven Ricchiuto, Henry Allen, it’s Organizations: New, New York CNN, Dow, Nasdaq, White House, Mizuho Securities, –, Deutsche Bank, Apple, Microsoft, Presidential, Federal Locations: New York, Israel

☆ Dow sinks sharply as Wall Street gears up for possibility of a Trump victory
▼ + stars: | 2024-10-23 | by ( Nicole Goodkind | Lucy Bayly | ) edition.cnn.com time to read: +3 min

Investors have been increasingly on edge about the prospect of former President Donald Trump winning the election, a possibility for which Wall Street has been preparing to a greater extent. While polls remain effectively dead-even, Trump’s prospects have grown since the start of this month in political betting markets. The tech-heavy Nasdaq Composite led the decline, ending the day down by 1.6%; while the S&P 500 and Dow both fell about 1%. Recent strong economic data has led traders to question whether the central bank might maintain higher rates for longer than anticipated. The current market environment suggests continued volatility ahead, said Torres, warning of the potential for further yield curve steepening and increased market turbulence ahead.

Persons: Donald Trump, Trump, ” Steven Ricchiuto, Kamala Harris, Dow, ”, José Torres, McDonald’s, Kelly Ortberg, Torres Organizations: New, New York CNN, Mizuho Securities, Treasury, Nasdaq, Dow, Interactive Brokers, Nvidia, Apple, Boeing, Federal Locations: New York, United States

☆ Idris Elba is building an entertainment industry in Africa
▼ + stars: | 2024-10-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +4 min

Elba, whose parents hail from Sierra Leone and Ghana, is on a mission to transform the entertainment industry in Africa. Elba aims to build film studios across Africa, starting in Zanzibar, the Tanzanian semi-autonomous island renowned for its white sand beaches. “Much of the imagery about Africa isn’t even generated from Africa,” Elba told CNN at the Stellar Development Foundation’s Meridian conference in London this week. Global players like Netflix and Disney have already made sizable investments in Kenya, South Africa and Nigeria. Still, many governments in emerging economies have yet to recognize the economic potential of the creative sector, Elba said.

Persons: New York CNN — Idris Elba, “ Luther, ”, Elba, Samia Suluhu Hassan, “ Idris Elba, Shariff Ali Shariff, ” Elba, Goldman Sachs Organizations: New, New York CNN, Economic, Investment, CNN, Development Foundation’s Meridian, UNESCO, Global, Netflix, Disney, Economic Research, South Locations: New York, Hollywood, London, Elba, Sierra Leone, Ghana, Africa, Zanzibar, Tanzanian, Davos, NIgeria, Kenya, South Africa, Nigeria, Tanzania, South Korea, Busan

☆ Wall Street’s been on a two-year tear. Can the party last?
▼ + stars: | 2024-10-15 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

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

☆ Jamie Dimon: JPMorgan Chase CEO warns of ‘treacherous’ geopolitical conditions that are ‘getting worse’
▼ + stars: | 2024-10-11 | by ( Nicole Goodkind | ) edition.cnn.com time to read: 1 min

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☆ Global markets rise after Biden exit
▼ + stars: | 2024-07-22 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

New York CNN —Global markets made solid gains after President Joe Biden dropped out of the 2024 presidential election Sunday and endorsed Vice President Kamala Harris as the Democratic nominee. European markets were higher, and Asian markets closed mostly lower. But “the fact that Biden endorsed Kamala Harris reduces uncertainty,” said Jay Hatfield, CEO at Infrastructure Capital Advisors. “Markets are increasingly focused on the US presidential election in November,” wrote Deutsche Bank’s Henry Allen in a research note on Monday. Stocks tumbled toward the end of last week as a turbulent election cycle and a global tech outage rocked technology stocks in particular.

Persons: Joe Biden, Kamala Harris, Donald Trump, unwind, Harris, Biden, ”, Jay Hatfield, Trump, ” Hatfield, Deutsche Bank’s Henry Allen, Lyndon Johnson, Stocks Organizations: New, New York CNN — Global, Democratic, Dow, Nasdaq, Trump, Infrastructure Capital Advisors, Deutsche Bank, “, Deutsche Locations: New York

☆ Election chaos and Friday’s tech outage are taking the market on a wild ride
▼ + stars: | 2024-07-19 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —Stocks are soaring this year, but that could soon change as election chaos takes the market on a rollercoaster ride. But this has been a destabilizing week for US stocks and the market trajectory could be shifting. The Dow was down more than 430 points, or 1%, in the morning trading session on Friday as the tech outage continued to rattle investors. Former President Donald Trump, meanwhile, said in an interview with Bloomberg that Taiwan should pay for its own defense. The bright sideInvestors have been largely resilient this year and some financial bigwigs say the election won’t change that.

Persons: Donald Trump, Joe Biden, Dow, —, “, ”, Jim Reid, Biden, they’re, Scott Wren, Wells, Jerome Powell, Liz Young Thomas, Russell, Young Thomas, ” Trump, CrowdStrike, JPMorgan Chase, Jeremy Barnum, isn’t Organizations: New, New York CNN, Investors, Big Tech, Nasdaq, Deutsche Bank, Democratic, ”, Treasury, Fed, Tech, Bloomberg, Taiwan Semiconductor Manufacturing, Nvidia, Microsoft, Meta, JPMorgan Locations: New York, Iran, Israel, Wells Fargo, “, China, Taiwan

☆ Why the Fed is stressed about presidential elections
▼ + stars: | 2024-07-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —Federal Reserve Chair Jerome Powell sent investors mixed messages on Tuesday during his semiannual testimony to Congress. Powell is stressed about the election: Powell was asked by multiple senators about White House politics, which he dodged. While the Fed head noted that policy decisions are data dependent, “elevated inflation is not the only risk we face,” he said. The September Fed meeting will be “live”: Powell noted multiple times that every Fed policy decision is made “live” using the latest available economic data – in other words, decisions aren’t made in advance. About 75% of investors think the Fed will cut rates, and about 25% think they’ll remain the same.

Persons: Jerome Powell, Powell, “, Donald Trump, reappoint Powell, ”, Joseph Brusuelas, Trump, Gregory Daco, Chris Larkin, Morgan Stanley, Larkin, don’t, aren’t, David Rubenstein, he’ll, Airbnb, Isabelle Chapman, Majlie, Puy Kamp, Audrey Ash, Chris Isidore . Organizations: CNN Business, Bell, New York CNN — Federal, White, “, Reserve, RSM, Federal Reserve, US Consumer, Treasury, Fed, Economics, Washington DC, Jackson, CNN, Boeing, Alaska Airlines Locations: New York, Powell, Washington, Alaska

☆ What a Trump presidency could mean for the dollar and the stock market
▼ + stars: | 2024-07-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

There are other reasons the dollar has been propelled higher as some European and Asian currencies have seen lackluster growth. A strong dollar makes US exports more expensive and reduces the profits of American companies operating overseas when earnings are converted back to dollars. And while a strong dollar lowers the cost of imported raw materials, it can boost inflation and hurt foreign investments. The families of victims of two fatal crashes of the 737 Max oppose the deal, the department said. Beyond the fatal crashes of the 737 Max jets, the company has faced a series of questions about the safety and quality of its planes.

Persons: it’s, Donald Trump, Joe Biden, Trump, ”, Lisa Shalett, Morgan Stanley, Louis Navellier, Jeanne Sahadi, Read, Max, Chris Isidore Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Fed, Republican, Morgan Stanley Wealth Management, Navellier, Associates, New York Federal Reserve, Boeing, Justice Department, Alaska Airlines Locations: New York, ”, China, Japan, United States

☆ Wall Street thinks the US economy is getting back to normal. The election could change that
▼ + stars: | 2024-07-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

New York CNN —New data shows weakening in the US economy – Friday’s jobs report showed that unemployment ticked up to 4.1% in June. Inflation is easing, and so is economic growth – that combination means interest rate cuts could be on their way. Before the Bell spoke with Michael Reynolds, vice president of investment strategy at Glenmede, about investors, the economy and political landscape. We recognize that to have a thesis on the economy is to have a thesis on the consumer. The global market value for adult diapers was pegged at $12.8 billion in 2023, according to market research provider Euromonitor International.

Persons: Joe Biden, Bell, Michael Reynolds, we’ve, there’s, That’s, We’ve, Fumio Kishida, Read, Nathaniel Meyersohn Organizations: CNN Business, Bell, New York CNN, Nasdaq, Federal, DC, Traders, Fed, Federal Reserve, United Nations, UN, Euromonitor, Oji Holdings, Flags Locations: New York, Japan, China, Indonesia, Malaysia, United States

☆ A global tax war is looming. It could hit Big Tech hard
▼ + stars: | 2024-07-03 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —A stalemate in Washington could destroy a landmark tax deal that was painstakingly hammered out among 140 countries over the better part of a decade. Some analysts say that the United States’ inability to ratify the deal could lead to a tax war among the richest nations that would hit tech behemoths like Google, Apple, Meta and Amazon particularly hard. Canada recently implemented a local tax on the world’s largest tech companies, something the OECD treaty had sought to avoid. New Zealand has also said it will implement its own digital services tax on large multinational companies beginning in 2025. The FTC also said that documents showed that competing mattress suppliers would lose access to its most important retail channel.

Persons: Donald Trump, he’s, Manal Corwin, ”, Megan Funkhouser, won’t, Alicia Wallace, Economists, Ramishah Maruf, Tempur Sealy, —, Foster Organizations: CNN Business, Bell, New York CNN, Apple, Meta, Economic Co, Development, OECD, Biden, Republicans, Finance, OECD’s, Tax, Administration, Information Technology Industry Council, CNN, Bureau of Labor Statistics ’, Labor, Labor Statistics, Federal Trade Commission, United, FTC, Pedic, Sealy Locations: New York, Washington, United States, Canada, Zealand, New Zealand, Stearns

☆ Investors just got an inflation wakeup call. Will they answer?
▼ + stars: | 2024-07-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —Inflation rates in Canada, the EU and Australia have popped higher in recent months. But that disconnect appears to be fading as inflation rates in the US continue to ease. The US also had a recent scare as inflation rates ticked higher. But after a year of the Fed holding interest rates steady at a 23-year high, inflation rates in the United States are once again declining. High inflation readings around the globe are concerning investors, José Torres, senior economist at Interactive Brokers, told CNN.

Persons: ”, Brent Schutte, Schutte, José Torres, Torres, payrolls, Chewy, Keith Gill, Krystal Hur, Gill, Ryan Cohen, Jordan Valinsky, CSSE Organizations: CNN Business, Bell, New York CNN, EU, Federal, Federal Reserve, Bank of Canada, Northwestern Mutual Wealth Management, Interactive Brokers, CNN, Investors, Bank for International, BIS, Securities, Exchange, GameStop, Soul Entertainment, BBC, Sony Pictures, Walmart, Walgreens, Apollo Global Management, Sony, Netflix Locations: New York, Canada, Australia, United States, Europe, Redbox

☆ Markets unfazed as Donald Trump has much better debate night than Joe Biden
▼ + stars: | 2024-06-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

London CNN —President Joe Biden had a shaky performance in last night’s presidential debate, triggering panic in the Democrat camp. Former President Donald Trump, meanwhile, repeated multiple falsehoods while doubling down on his record of cutting taxes and hiking tariffs during his first presidential term. If repeated in a second Trump term, many economists fear that kind of agenda could stoke inflation at a critical moment and add to America’s rapidly growing debt mountain. That could pull the typical year-end election relief rally forward, said Ed Clissold, chief US strategist at Ned Davis Research. The US dollar has also been reactive — it edged higher as initial CNN polling found that Trump was viewed as the winner of the debate.

Persons: Joe Biden, Donald Trump, shrugged, ”, Keith Lerner, Barack Obama, Trump, Lerner, Ed Clissold, Ned Davis, Antonio Ernesto Di Giacomo, “, Goldman Sachs ’ Scott Rubner, Jonas Goltermann, Emmanuel Macron, Katie Nixon, France’s, CDK, Ramishah Maruf, Eva Rothenberg, aren’t, they’ve, Scott Campbell, CNN they’ve, Jordan Valinsky, Tim Wentworth Organizations: London CNN, Democrat, Trump, “, Biden, Ned, Ned Davis Research, Investors, Capital Economics, CNN, Renaissance, Northern Trust Wealth Management, CAC, CDK, Auto, Capital City Buick GMC, Bloomberg, Walgreens Locations: France, “, North America, United States, Canada, Berlin , Vermont, Eastern Europe, America

☆ Markets are adjusting to stubborn inflation. Election noise could spoil the calm
▼ + stars: | 2024-06-27 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Add to that the noise surrounding the US election, and it could be a rougher second half. Central Banks in Canada and the eurozone have both cut interest rates, but inflation rose in both of those regions last month. Australia, meanwhile, saw its inflation rate rise to 4% this week, stoking fears that the Reserve Bank of Australia could soon move to raise rates again. It was already well known that no documentation was found to show who worked on the door plug. Without the bolts, the door plug incident was pretty much inevitable.

Persons: London CNN —, they’ve, Michelle Bowman, she’s, Mary Daly, Austan Goolsbee, stoking, Joe Biden, Donald Trump, ”, José Torres, Torres, wouldn’t, Joseph Stiglitz, Trump, Trump’s, Max, “, Al Michaels, Michaels, Peacock, ” Michaels, ‘, CNN Michaels, Read Organizations: CNN Business, Bell, London CNN, Federal Reserve, foibles, San Francisco Fed, Chicago Fed, Central Banks, Reserve Bank of Australia, Interactive Brokers, Treasury, Trump, Peterson Institute, Oxford Economics, Allianz, CNN, Boeing, Alaska, Alaska Airlines, National Transportation Safety Board, Alaska Air, NBC, Summer Games, Olympics Locations: London, Canada, Australia, Renton , Washington, Paris, ’

☆ The Nvidia spell has been broken. Here’s what could come next
▼ + stars: | 2024-06-26 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

London CNN —Nvidia, Nvidia, Nvidia. Nvidia’s stock bounced back Tuesday, yet investors have been reminded of a potentially bubble-bursting truth: You can fly too close to the sun. For context, it took Warren Buffett about 60 years to build Berkshire Hathaway into a nearly trillion dollar company. But typical volatility can have seismic repercussions when it comes to a stock as all-consuming as Nvidia. Analysts at The Carlyle Group say that while artificial intelligence is revolutionizing the world around us, the Nvidia stock bubble will eventually burst.

Persons: Warren Buffett, Berkshire Hathaway, Microsoft’s, ”, Jim Smigiel, Louis Navellier, Nvidia’s, ” Jochen Stanzl, Emily Bowersock Hill, Jason Thomas, Carlyle’s, ” Neil Roarty, Stocklytics, —, Levi’s, “, LEVI, ” Read, Ryan Callahan, ” Callahan, CDK, Tom McParland Organizations: CNN Business, Bell, London CNN, Nvidia, Berkshire, Deutsche Bank, SEI, Navellier, Associates, CMC, CNN, Bowersock Capital Partners, The Carlyle Group, ’ Association, Mazda, North America, Automatic Consulting Locations: London, Turkey, Istanbul, Seekonk , Massachusetts

☆ Fed officials are talking down the chance of rate cut this year
▼ + stars: | 2024-06-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

London CNN —At the beginning of the year, Federal Reserve officials projected they would cut interest rates three times this year. The labor-force participation rate has leveled off after a post-Covid boom, and the US immigration policy rate may soon become more restrictive, limiting potential new labor market participants. “Reducing our policy rate too soon or too quickly could result in a rebound in inflation, requiring further future policy rate increases to return inflation to 2% over the longer run.”Investors weren’t happy to hear it. That’s why not taking preemptive action when it’s not necessary is so important.”Chicago Fed President Austan Goolsbee has also been particularly hawkish in his views. He also said rate hikes are “certainly not off the table.”Like Bowman and Kashkari, New York Fed President John Williams said rate hikes aren’t part of his baseline outlook.

Persons: Michelle Bowman, she’s, ” Bowman, Bowman, ”, Dow, Mary Daly, Daly, ” Daly, “ We’re, it’s, Austan Goolsbee, Goolsbee, Neel Kashkari, John Williams, he’s Organizations: London CNN —, Federal Reserve, Exchange, London ., Federal, Market, Nvidia, San Francisco Fed, Commonwealth Club World Affairs of California, Chicago Fed, Minneapolis, Kashkari , New York Fed, Commerce Department Locations: London, San Francisco, Kashkari , New

☆ The fertility crisis is here and it will permanently alter the economy
▼ + stars: | 2024-06-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

In the 1960s, there were six people of working age for every retired person, according to the World Economic Forum. “What you’re seeing is increased spending on programs like Medicare and Social Security as the baby boomers are aging into those programs. And then of course, fewer workers relative to the number of people who are receiving Social Security and Medicare benefits,” said Dahl. Social Security payments still provide about 90% of income for more than a quarter of older adults in the United States, according to Social Security Agency surveys. But without intervention, the Social Security trust fund will be depleted by the mid-2030s, meaning that only a portion of retirees’ expected benefits will be paid out.

Persons: it’s, Louis, Simona Paravani, ”, Elon Musk, Kimberly, Clark, Mark Schneider, he’s, Emmanuel Macron, Donald Trump, Molly Dahl, Dahl, Eric Schmidt, ” Schmidt, Goldman Sachs, Stefano Scarpetta, Li Qiang, Juliana Liu, Joyce Jiang, Li, China’s, Xi Jinping, Biden, Max Prosecutors, haven’t, Max, Read Organizations: London CNN, Organisation for Economic Co, Development, Economic, Federal Reserve Bank of St, BlackRock, Disease Control, Congressional Budget Office, CBO, Social Security, Social, Social Security Agency, Google, Summit, Federal Reserve Bank of Richmond, OECD, ” Companies, West Chinese, CNN, EV, Prosecutors, Boeing, Max, US Justice Department, Alaska Air, Justice Department, Federal Aviation Administration Locations: Chad, Niger, Somalia, Samoa, Tonga, Tajikistan, United States, London, China, Beijing, Dalian, Canada, Beijing’s “

☆ The stock market is having its best election year ever
▼ + stars: | 2024-06-24 | by ( Nicole Goodkind | Matt Egan | ) edition.cnn.com time to read: +9 min

The S&P 500 alone has generated an average return of 7% during presidential election years since 1952, according to LPL Financial. If you limit that to election years in which the incumbent president is running for reelection, the average jumps to 12.2%. Yes, but: Market volatility in an election year tends to pick up in October and there are many months left in this cycle with potential surprises to come. “An autumn pullback fits well time wise with potential downside earnings revisions, make-or-break decision time for the Fed, and election uncertainty. The first round of the French election will be held on June 30, with a second round on July 7.

Persons: Goldman Sachs —, Ed Clissold, Ned Davis, they’re, It’s, Goldman Sachs ’ Scott Rubner, “, ”, Mark Hackett, Scott Chronert, Goldman Sachs, Joe Biden, Donald Trump, Jim Reid, There’s, Emmanuel Macron, Katie Nixon, Chris Isidore ., they’ve, Samantha Murphy Kelly, ChatGPT —, Siri —, OpenAI, Siri, ChatGPT, hasn’t, — Organizations: London CNN — Traders, Investors, White, Ned, Ned Davis Research, Nasdaq, Citigroup, Goldman, Barclays, Deutsche Bank, UBS, Deutsche, Fed, United, Labour Party, Renaissance, Northern Trust Wealth Management, Alaska Airlines, Alaska —, Southwest —, Southwest, Railway Labor, Apple, Apple Intelligence, Microsoft, Google, Meta, Samsung, Cyberspace Administration, Wall, IDC Locations: United States, France, “, Alaska, China

☆ Is a recession coming? Economists say look at women’s lips
▼ + stars: | 2024-06-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

Estee Lauder chairman Leonard Lauder created the lipstick index during the economic downturn following September 11, 2001. In fall 2001, US lipstick sales increased by 11%. “The lipstick index has been substituted with the moisturizing index,” said Freda. But data shows that more expensive prestige beauty sales are outpacing mass, lower-priced beauty sales. What do you see dominating the beauty market in the second half of the year?

Persons: Estee Lauder, Leonard Lauder, Fabrizio Freda, ”, Freda, “, Sephora, Bell, Neela Montgomery, Laura Mercier, We’ve, it’s, Skincare, It’s, we’re, Inflection’s, OpenAI, Sarah Myers West, ” West, Brian Fung, Jerome Powell, Price Organizations: CNN Business, Bell, New York CNN, CNN, Federal Trade Commission, Microsoft, FTC, Justice Department, Google, Nvidia, DOJ, US Department of Treasury, OPEC Monthly, Federal Reserve, US Bureau of Labor Statistics, Signet Jewelers, Federal Locations: New York, Asia

☆ People are exiting the stock market in droves
▼ + stars: | 2024-06-05 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

The US stock market is shrinking, and investors are pulling their money out at a near-record pace as storm clouds gather over the US economy. A shrinking market: The stock market isn’t the economy (for the most part). Fear is currently driving the US market, according to CNN’s Fear and Greed Index. “We really need to consider: Is this the outcome we want?”CEOs are making almost 200 times what workers areCEOs raked in fat pay packages last year as the US stock market boomed, reports my colleague Matt Egan. Economists were expecting job openings to register 8.36 million, according to FactSet estimates.

Persons: ”, Morgan Stanley, Lisa Shatlett, We’ve, Torsten Slok, Jamie Dimon, Dimon, “, Matt Egan, Bosses, Alicia Wallace Organizations: CNN Business, Bell, New York CNN, titans, Bank of America, Morgan Stanley Wealth Management, Federal, Dow, Apollo Global Management, Privately, JPMorgan, Associated Press, Workers, Bureau of Labor Statistics ’, Labor, Federal Reserve Locations: New York, Nantucket, That’s

☆ Texas is coming for Wall Street with a new BlackRock-backed stock exchange
▼ + stars: | 2024-06-05 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

New York CNN —Texas’ famous longhorns are coming for Wall Street’s bulls. A new national stock exchange, based in Dallas, and backed by Wall Street heavyweights like BlackRock and Citadel, is looking to take on the world-famous New York Stock Exchange and Nasdaq. The newly formed TXSE Group announced its plans to file for registration with the US Securities and Exchange Commission later this year. “We’re thrilled to bring to fruition the long-held vision for a national stock exchange in Texas,” TXSE Group founder and CEO James Lee said in a statement on Wednesday. The problem with going publicAmerica has lost half its public companies since the 1990s.

Persons: Wall, “ We’re, James Lee, Lee, Wells, ”, Jamie Dimon, JPMorgan Chase, “, “ TXSE’s, TXSE Organizations: New, New York CNN — Texas ’, longhorns, Wall Street, BlackRock, Citadel, New York Stock Exchange, Nasdaq, TXSE Group, US Securities and Exchange Commission, SEC, TXSE, Wall Street Journal, Center for Research, “ Companies, JPMorgan Locations: New York, Dallas, Texas, “ Texas, America, Wells Fargo, ”, New York City, Philadelphia, Miami, United States

☆ Nvidia surpasses Apple to become the second-largest public company in the US
▼ + stars: | 2024-06-05 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN —Nvidia, Wall Street’s favorite artificial intelligence darling, is continuing to swell to staggering heights. Nvidia is now the third company in the US, behind Apple and Microsoft, to cross that $3 trillion mark. Shares of the Santa Clara-based chipmaker rose 5.2% to about $1,224.4 a share, while Apple shares ended the session up 0.8% at $196. Earlier this week, Jensen Huang, CEO of Nvidia, said that the company would roll out its most advanced AI chip platform, called Rubin, in 2026. Nvidia announced a 10-for-1 stock split last month, making buying shares in the red-hot semiconductor company more accessible for individual investors.

Persons: Wall, nudging, Apple’s, Jensen Huang, Rubin, Blackwell, ”, Angelo Zino Organizations: New, New York CNN, Nvidia, Apple, Microsoft, Tech, CFRA Research Locations: New York, Santa Clara

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