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☆ Top 10 S&P 500 stock winners since Election Day
▼ + stars: | 2024-11-22 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Michael M. Santiago | Getty Images News | Getty ImagesMany large U.S. companies have seen their stocks swell since the presidential election. The top 10 performing stocks in the S&P 500 index saw returns of 18% or more since Election Day, according to data provided by S&P Global Market Intelligence, which analyzed returns based on closing prices from Nov. 5 to Nov. 20. The 'Elon Musk premium'And then there's the Elon Musk factor. Tesla's stock got an "Elon Musk premium" from Trump's victory, said Goldberg of Professional Advisory Services. Shares of the electric-vehicle maker soared 14% the day after the election and almost 30% by week's end.

Persons: Michael M, Elon Musk, Donald Trump —, Jeremy Goldberg, Goldberg, Jacob Manoukian, Rosy, outperformance, David Glazer, Paul Moseley, Vistra, Stacey Doré, Elon, Trump, Donald Trump, Chris Unger Organizations: New York Stock Exchange, Santiago, Getty, P Global Market Intelligence, Professional Advisory Services, Inc, Trump, Deregulation, Morgan Private Bank, Companies, Warner Bros ., Max, Disney, Walt Disney Co, Palantir Technologies, Fort Worth Data, Fort Worth Star, Tribune, Service, Vistra Corp, Tech, Elon, Professional Advisory Services ., of Government, week's, UFC, Madison, Garden, Ufc Locations: U.S, Texas, —, Texas , Pennsylvania, Ohio, New York

☆ Treasury yields fall as investors weigh state of U.S. economy
▼ + stars: | 2024-11-22 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

The 2-year Treasury yield was last trading at 4.3345% after dipping by more than one basis point. U.S. Treasury yields were lower Friday as investors weighed mixed economic data and assessed the state of the economy. Investors considered the current state and outlook for the U.S. economy after Thursday brought a series of mixed data points. Investors also assessed the latest comments from Federal Reserve officials, scanning them for hints about whether a third back-to-back interest rate cut could be announced when policymakers meet again next month. Chicago Federal Reserve President Austan Goolsbee on Thursday indicated that he saw the need for more rate cuts ahead, but cautioned that the pace of reductions could slow.

Persons: Austan Goolsbee, Michelle Bowman Organizations: Treasury, Investors, Wall Street, Philadelphia Federal Reserve, P Global, Federal Reserve, Chicago Federal Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin hits new record near $95,000 as investors monitor Trump transition: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Andrew O'Neill of S&P Global Ratings discusses how crypto policy changes under Trump could affect crypto prices.

Persons: explainers, Andrew O'Neill of S Organizations: Trump, CNBC Crypto, CNBC

☆ Treasury yields rise as investors weigh geopolitical tensions, economic data
▼ + stars: | 2024-11-20 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by over four basis points to 4.4178%. The 2-year Treasury yield was last trading at 4.2932% after rising by more than two basis points. U.S. Treasury yields were higher on Wednesday as investors considered the geopolitical situation and assessed the latest economic data. Elsewhere, investors weighed the latest economic data, with new housing starts falling short of expectations in October, and building permits slipping month over month, according to data published Tuesday. Later in the week, investors will be watching out for October's flash purchasing managers' index reports from S&P Global for the services and manufacturing sector.

Persons: Vladimir Putin, Donald Trump's Organizations: Treasury, U.S, Investors, Global, Federal Reserve Locations: Russia, Ukraine, U.S, Ukraine's, Kyiv

☆ Treasury yields fall amid rising Ukraine-Russia tensions
▼ + stars: | 2024-11-19 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +2 min

One basis point is equal to 0.01% and yields and prices move in opposite directions. ET, the yield on the 10-year Treasury was lower by 5 basis points at 4.365%. U.S. Treasury yields slid on Tuesday as tensions between Ukraine and Russia increased, while investors awaited new data. Bloomberg News also reported, citing RBC Ukraine, that Ukraine hit Russia with U.S.-made missiles for the first time. Yields have soared following the election with traders betting that Trump's pro-business policies and tax cuts will boost economic growth.

Persons: Vladimir Putin, —, Joe Biden, Trump's, Scott Bessent, Howard Lutnick, Trump, Elon Musk Organizations: Treasury, U.S, Bloomberg News, RBC Ukraine, Traders, Wall, US Treasury, ING, Key Square Group Locations: Ukraine, Russia, U.S, Trump's, Washington

☆ Trump’s influence already generating drama among world leaders as G20 gets underway
▼ + stars: | 2024-11-18 | by ( Kevin Liptak | ) edition.cnn.com time to read: +5 min

It was just one example of Trump casting a long shadow over a pair of world leader summits taking place in South America this week. Yet to many involved in the discussions, the episode suggested the contention that colored world leader summits during Trump’s first presidency may be poised to return. “You can already see the Trump effect taking hold,” one Western diplomat said as the summit was getting underway. “Trump will only cause more divisions, and more divisions mean less leverage and less influence,” the official went on. “President Biden is that president, he will be handing off power in January, and it will be up to a new administration to decide what to do with it.”

Persons: Rio de Janeiro CNN — Donald Trump’s, Javier Milei, it’s, Trump, Joe Biden, Tulsi Gabbard, Pete Hegseth, Xi Jinping’s, Biden, ” Xi, Jake Sullivan, Xi, Donald Trump, Alex Brandon, Milei, Trump’s, ” Biden, “, “ Trump, ”, Jon Organizations: Rio de Janeiro CNN, Argentine, Trump, APEC, Fox News, Pentagon, White House, GOP, AP, “ Conservatives, Sunday Locations: Rio de Janeiro, Argentina, South America, Peru, Japan, South Korea, China, Lima, Rio, Paris, Ukraine, Russia, Moscow

☆ Earth may have had a Saturn-like ring over 400 million years ago, scientists say
▼ + stars: | 2024-11-18 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +8 min

And now, scientists hypothesize that Earth may have sported its own ring some 466 million years ago. Scientists previously believed that a large asteroid broke apart within the solar system, creating the meteorites that hit Earth during the Ordovician Period. The space rock is commonly referred to as a “mini-moon” due to it coming within 2.8 million miles (4.5 million kilometers) of the planet. Also, the suggested Earth ring would have “had to be the result of the disruption of a much larger body as the authors indicate in their paper,” he added in an email, so the asteroid, likely about 37 feet (11 meters) in diameter, could not have made a new ring for Earth. However, “this ring formation event we think may have happened only once in the last 500 million years.”

Persons: CNN —, “, ”, Andrew Tomkins, Tomkins, Roche, Earth’s, landmasses, Vincent Eke, ” Eke, PT5, Carlos de la Fuente Marcos, la Fuente Marcos, ” Tomkins Organizations: CNN, Monash University, NASA, Institute, UK’s Durham University, Complutense University of Madrid Locations: Melbourne, Australia, Earth’s Roche

☆ Trump’s pick for fracker-in-chief will have a tough time pumping a lot more oil
▼ + stars: | 2024-11-18 | by ( Auzinea Bacon | Chris Isidore | ) edition.cnn.com time to read: +4 min

Trump has said he wants to lower gas prices — which currently average $3.07 per gallon — to below $2 a gallon. But the American oil industry is already booming and increasing output doesn’t mean gas prices will drop. After oil prices shot up in 2022 in the wake of Russia’s invasion of Ukraine and the sanctions on Russian oil imposed by western countries, major oil companies reported record profits. But are we going to increase oil production by another 50%? OPEC+, a group of leading oil-producing countries, even delayed plans to increase production because of concerns about excess supply.

Persons: Donald Trump, ” Trump, Trump, Chris Wright, Wright, Andy Cross, Andy Lipow, ” Lipow, “ It’s, Biden, ”, Bob McNally, George W, Bush, CNN’s David Goldman, Matt Egan Organizations: CNN, Liberty Energy, Liberty, Denver Post, US Energy Information Administration, P, Insights, Eurasia Group, Texas Intermediate, OPEC, Lipow Oil Associates, Energy, Oil Locations: Denver, States, Saudi Arabia, Russia, Eurasia, Ukraine, China, OPEC

☆ Palantir jumps 11% to a record after announcing move to Nasdaq
▼ + stars: | 2024-11-15 | by ( Ari Levy | ) www.cnbc.com time to read: +3 min

Alex Karp, CEO of Palantir Technologies speaks during the Digital X event on September 07, 2021 in Cologne, Germany. Palantir shares continued their torrid run on Friday, soaring 11% to a record, after the developer of software for the military announced plans to transfer its listing to the Nasdaq from the New York Stock Exchange. The shares are now up more than 45% since Palantir's better-than-expected earnings report last week and have almost quadrupled in value this year. Palantir said late Thursday that it expects to begin trading on the Nasdaq on Nov. 26, under its existing ticker symbol "PLTR." Thiel's Palantir holdings have increased in value by about $3 billion since the earnings report and $2 billion since the election.

Persons: Alex Karp, Palantir, Alexander Moore, 8VC, " Moore, Moore, didn't, Maven, Trump, Peter Thiel, Donald Trump's, Thiel Organizations: Palantir Technologies, Nasdaq, New York Stock Exchange, Maven, ., Department of Defense, Trump, P Global, Argus Research Locations: Cologne, Germany

☆ Greenlight's David Einhorn says the markets are broken and getting worse
▼ + stars: | 2024-11-14 | by ( Bob Pisani | ) www.cnbc.com time to read: +7 min

As he has done several times before, Einhorn pointed a finger at passive, index investors: "The passive people, they don't care what the value is." "I view the markets as fundamentally broken," Einhorn said back in February on Barry Ritholtz's "Masters in Business" podcast. "You have these companies, and all they do is they manage these expectations, right?," Einhorn told Picker. This is causing great pain to value investors like Einhorn, many of whom have seen cash flee their funds. Another reason for long-term underperformance by active managers: They are competing against other active managers who have very little competitive edge against each other.

Persons: David Einhorn, Greenlight Capital's David Einhorn, Leslie Picker, Einhorn, It's, Picker, Barry Ritholtz's, Rob Arnott, Arnott, there's, doesn't, RAFI, you'd, I'm Organizations: Greenlight Capital, CNBC Delivering Alpha Investor, Alpha, CNH, Interactive, Cornell grad, Research Affiliates, P Global Locations: New York City, U.S

☆ Who’s Attending COP29, the International Climate Summit?
▼ + stars: | 2024-11-13 | by ( Mira Rojanasakul | ) www.nytimes.com time to read: +9 min

Over 50,000 people are gathered in Baku, Azerbaijan, for the United Nations climate conference known as COP29. This is the second largest of the annual gatherings in their history, according to official estimates and recently published data. Diplomats from nearly 200 member countries will seek a deal on climate financing to support the clean energy transition in developing economies. Recent years have seen a spike in the number of guests, particularly from Europe, sub-Saharan Africa and the Middle East. Politicians started to take more interest in the climate talks in 2009, when they were held in Copenhagen.

Persons: Donald J, Trump, COP6, Keir Starmer, ”, Richard Kinley, they’ve, They’ve Organizations: Climate, United Nations, Diplomats, Paris Copenhagen, Berlin, COP3, Dubai, New York, Paris Copenhagen Official, CENTRAL, NORTH, NORTH AFRICA EAST, NORTH AFRICA Official, EAST ASIA, COP1, CENTRAL ASIA, EAST, PACIFIC, Copenhagen COP15, United, United Arab Emirates, Azerbaijan Russia United Arab, Swarthmore, Ivory, Ivory Coast Democratic Locations: Baku, Azerbaijan, United States, Europe, Saharan Africa, COP28, Dubai, Paris, Copenhagen, United Kingdom, China, SAHARAN AFRICA, NORTH AFRICA, NORTH AFRICA EAST ASIA, Berlin, ASIA, EUROPE, EAST ASIA, AFRICA, Russia, United Arab, Qatar, Doha, Azerbaijan Russia, Azerbaijan Russia United Arab Emirates Qatar, Ivory Coast, Ivory Coast Democratic Republic of Congo Senegal Ghana

CNN —Argentine delegates at the COP29 United Nations climate summit in Baku, Azerbaijan, have been ordered to withdraw from negotiations and return home, according to a source at the country’s foreign ministry. He is expected to travel to the United States this week to attend a Conservative Political Action Conference (CPAC) summit at Mar-a-Lago, Florida. Milei came to power less than a year ago, running on a libertarian platform, and has since implemented drastic social and economic measures in Argentina. Other cuts to public services have so far included shutting down the Argentina national press agency Télam and several ministries. Abortions were legalized in Argentina in 2021 in all cases up to 14 weeks of pregnancy.

Persons: Donald Trump’s, Trump, Biden, “, ”, John Podesta, Javier Milei, ” Milei, Milei, ” Javier Milei, UNGA, Michael M, Diana Mondino, CNNE, Donald Trump, Trump’s Organizations: CNN, Argentine, COP29, White, UN, Assembly, United Nations, Conservative Political, Argentina national Locations: Nations, Baku, Azerbaijan, Paris, Argentina, New York City, Cuba, Venezuela, United States, Mar, Lago , Florida, Buenos Aires

☆ Katie Stockton says bitcoin could be headed to $98,000 next after some short-term consolidation
▼ + stars: | 2024-11-11 | by ( Katie Stockton | ) www.cnbc.com time to read: +7 min

We recommend letting bitcoin digest its strong gains of late in a short-term consolidation phase before adding exposure. —Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein.

Persons: bitcoin, Katie Stockton Organizations: Trump, CNBC, NBC UNIVERSAL, Fairlead, CNBC Pro, Securities Locations: bitcoin

☆ Trump's tariffs will make it hard for automakers — including Tesla — to set up shop in Mexico
▼ + stars: | 2024-11-11 | by ( Tom Carter | ) www.businessinsider.com time to read: +7 min

Analysts said tariffs on cars imported from Mexico would have dire consequences for US automakers. Tesla announced in March 2023 that it was planning to build its seventh gigafactory near the industrial hub of Monterrey, Mexico. Trump vowed to clamp down on automakers building cars in Mexico on the campaign trail, and the prospect of new tariffs could force US automakers such as Tesla to make some hard choices about operational or planned factories in Mexico. Analysts told BI that the tariffs floated by Trump would deter automakers such as Tesla from investing in Mexico. Other automakers have expanded their presence in Mexico, despite the uncertainty of the election and the prospect of tariffs under a second Trump term.

Persons: Donald Trump, Elon Musk, —, Tesla, Trump, It's, Donald Trump's, Alex Brandon, Musk, Sam Fiorani, Fiorani, Ford, David Whiston, Scott Olson, BYD, Stephanie Brinley, Alanis King, Brinley, Stellantis Organizations: Service, Mexico —, AP, UBS, Trump, AutoForecast Solutions, General Motors, Ford, Getty, Toyota, Tacoma, Nissan, Volkswagen, BYD, Chrysler, Street Journal, BMW, P Global, Toyota Tacoma, GM Locations: Mexico, Monterrey, Detroit, United States, Cuautitlan, Toluca, San Luis Potosí

☆ Trump victory deals latest severe blow to a struggling Germany
▼ + stars: | 2024-11-07 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

Krisztian Bocsi | Bloomberg | Getty ImagesDonald Trump's election as U.S. President could mark yet another major blow for the struggling German economy. The print came after the German economy ministry in October said it was now expecting the country's economy will contract, rather than grow this year. Trump's victory could make matters worse. Reliance on exportsThe German economy is heavily reliant on exports — and Trump is set to slap tariffs and other restrictions on imports. The German statistics office Destatis last month said that the U.S.' importance as a trading partner for Germany has been growing.

Persons: Olaf Scholz, Germany's, Krisztian Bocsi, Donald Trump's, Moritz Schularick, Trump, Schularick, ifo, Morningstar DBRS, Lisandra Flach Organizations: Bloomberg, Getty, PMI, P Global, Hamburg Commercial Bank, Kiel Institute, Trump, Reliance, China, Beijing, Destatis, ifo Center, International Economics, European Union, EU Locations: Berlin, Germany, Federal Republic of Germany, Europe, U.S

☆ 2024 will be the first year on record to smash a warming limit scientists warned about
▼ + stars: | 2024-11-06 | by ( Brandon Miller | Ella Nilsen | ) edition.cnn.com time to read: +4 min

Nearly all the world’s countries pledged to strive to keep global warming under 1.5 degrees Celsius in the Paris Agreement, which scientists said would prevent cascading and worsening impacts such as droughts, heat waves and catastrophic sea level rise. Data released Wednesday by Europe’s Copernicus Climate Change Service shows 2024 is “virtually certain” to shoot above that threshold. “We don’t have time to stop,” Alex Scott, a climate diplomacy strategist at international think tank ECCO said Wednesday. It would be a more “serious” and “dramatic” step, said Alden Meyer, senior associate at climate think tank E3G and a longtime international climate expert. With Trump’s reelection, global climate negotiations are facing another whiplash moment as Americans seesaw between presidential extremes, said Meyer.

Persons: Europe’s Copernicus, Donald Trump, ” Alex Scott, Trump, ” Scott, Apu Gomes, Alden Meyer, Meyer, “, ” Meyer, Copernicus Organizations: CNN, America, Service, Trump, United Nations, European Union, Milton Locations: Paris, San Bernardino, California, China, Florida, Spain, Fuji, Japan

☆ China is boosting market sentiment by playing up hopes for stimulus
▼ + stars: | 2024-11-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Chinese Premier Li Qiang spurred market expectations for more stimulus in a speech. China's services activity and business confidence rose in October, boosting market sentiment. Beijing is monitoring the US presidential election and may adjust its fiscal stimulus based on its outcome. He also drummed up market expectations for more economic stimulus, saying Beijing has "ample space for fiscal policy and monetary policy." AdvertisementBeijing is likely to roll out a bigger stimulus to buffer market volatility if Republican candidate Donald Trump wins, Varathan wrote.

Persons: Li Qiang, —, Li's, Wang Zhe, Wang, Hong, Harris, Vishnu, Mizuho Bank's, Donald Trump, Varathan Organizations: Service, P Global, Protesters, Caixin Insight, Deutsche Bank, PMI, National People's Congress, Trump Presidency, Reuters Locations: Beijing, China, Asia, Japan

☆ Lightning Round: I like Broadcom, says Jim Cramer
▼ + stars: | 2024-11-05 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: I like Broadcom, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: Broadcom, IES Holdings, S&P Global, and Merck & Co.

Persons: Jim Cramer Organizations: Broadcom, IES Holdings, P Global, Merck, Co

☆ Cramer's Lighting Round: S&P Global is a buy
▼ + stars: | 2024-11-05 | by ( Julie Coleman | ) www.cnbc.com time to read: 1 min

Stock Chart Icon Stock chart icon Broadcom's year-to-date stock performance. Stock Chart Icon Stock chart icon SkyWater Technology's year-to-date stock performance. Stock Chart Icon Stock chart icon IES Holdings' year-to-date stock performance. Stock Chart Icon Stock chart icon S&P Global's year-to-date stock performance. Stock Chart Icon Stock chart icon Merck's year-to-date stock performance.

Persons: SkyWater, they're, Jim Cramer's Organizations: Broadcom, SkyWater, IES Holdings, Merck

☆ Solid-state batteries may yet catch up — but silicon anodes are winning the race to power EVs
▼ + stars: | 2024-11-05 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

Silicon anodes vs. solid-state batteriesAnalysts say silicon anodes theoretically offer 10 times the energy density as graphite, which are commonly used in battery anodes today. Silicon anodes, for example, are known to swell significantly during charging, which reduces the battery's longevity. Especially in the West, advances in the area of silicon anodes [are] seen as strategic opportunity to catch up with China. Nonetheless, analysts remain skeptical about when solid-state batteries will actually make it to market. "However, there are significant technical challenges going to 100% silicon anode such as silicon expansion affecting the longevity of the batteries and currently there are several routes to produce silicon anodes," he added.

Persons: IDTechEx, carmakers, Venkat Srinivasan, Srinivasan, hasn't, Rory McNulty, McNulty, Georgi Georgiev, Georgiev, Taiwan's, Sila Nanotechnologies Organizations: Parc des, Chesnot, Getty, Mercedes, Porsche, GM, Center for Energy Storage Science, government's, government's Argonne National Laboratory, CNBC, EV, Benchmark Mineral Intelligence, Bloomberg, Fastmarkets, Toyota, Nissan, China's SAIC Motor Corp, ProLogium, Paris Locations: Parc, Paris, France, government's Argonne, Chicago, Siheung, South Korea, West, China, U.S

☆ Palantir shares surge on rosy revenue outlook
▼ + stars: | 2024-11-04 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Palantir shares jumped 13% in extended trading on Monday after the data analytics software maker reported robust third-quarter results and revenue guidance. With respect to guidance, Palantir called for fourth-quarter revenue of $767 million to $771 million. It now sees $2.805 billion to $2.809 billion, compared with $2.742 billion to $2.750 billion in August. The company is targeting over $687 million in U.S. commercial revenue for the year, implying about 24% of the total. As of Monday's close, Palantir shares were up 141% in 2024, while the tech-heavy Nasdaq had gained 21%.

Persons: Alex Karp, Palantir, Karp, LSEG, StreetAccount, Joe Lonsdale Organizations: Palantir, Bloomberg, P Global, Nasdaq, Musk Locations: Palo Alto , California, U.S, United States, Europe

☆ CNBC Daily Open: Big Tech needs to go beyond beating earnings expectations
▼ + stars: | 2024-11-01 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

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. Big Tech drags down marketsMajor U.S. indexes slumped on Thursday, weighed down heavily by losses in Big Tech shares. While the company's cloud division missed revenue expectations, it's growing faster than it had in the same period last year. CNBC Pro checked in with Teng again to find out how his picks have performed, and if he has changed his mind on the stocks he's betting on.

Persons: Kevin Teng, Teng Organizations: CNBC, Big Tech, U.S, Japan's Nikkei, CSI, Apple, Amazon, P Global, PMI, Boeing, Wrise Private Singapore Locations: Asia, Pacific, Cupertino, China

☆ Luxury European automakers are getting crushed in China
▼ + stars: | 2024-11-01 | by ( Tom Carter | ) www.businessinsider.com time to read: +7 min

AdvertisementThe days of European carmakers dominating China's luxury vehicle market are over. A study by AlixPartners found that Chinese automakers released 40 over-the-air software updates between March 2023 and February this year, compared with just two from legacy automakers. AdvertisementHard to quitDespite a challenging environment, Western premium automakers can ill afford to give up on China. As well as increased competition, European automakers face a geopolitical headache. AdvertisementTim Urquhart, principal automotive analyst at S&P Global Mobility, told BI the European Union's tariffs on Chinese automakers meant Beijing could impose levies on European car imports in retaliation.

Persons: —, Aston Martin, James Bond, Chris Brownridge, BYD, Lutz Meschke, Max, Xiaomi, Steve Dyer, Dyer, AlixPartners, Mercedes, GAO, China's, Tim Urquhart, Urquhart Organizations: BMW, Mercedes, Benz, Porsche, Service, upstarts, Volkswagen, Royce, British, Bloomberg, Reuters, Getty, P Global Mobility Locations: China, British, London, Korea, Western Europe, Beijing

☆ China’s manufacturing output swings back into expansion in October, private survey finds
▼ + stars: | 2024-11-01 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

Workers assemble at a workshop of an equipment manufacturing enterprise in Yunmenshan Street, Qingzhou city, East China's Shandong province, Aug. 9, 2023. China's factory activity swung back into expansion among smaller manufacturers in October, according to a private survey released on Friday. The Caixin/S&P Global manufacturing PMI came in at 50.3 in October, beating the median estimate of 49.7 in a Reuters poll. A PMI reading above 50 indicates expansion in activity, while a reading below that level points to contraction. This private gauge, which focuses on smaller and export-oriented firms, comes after the official PMI data, released Thursday, indicated that manufacturing activity in the country expanded for the first time since April.

Organizations: P Global, PMI Locations: Yunmenshan, Qingzhou city, East China's Shandong

☆ Super Micro's $50 billion stock collapse underscores risk of AI hype
▼ + stars: | 2024-10-31 | by ( Ari Levy | ) www.cnbc.com time to read: +7 min

Super Micro is one of the primary vendors for building out Nvidia-based clusters of servers for training and deploying AI models. Super Micro is now at risk of being delisted from the Nasdaq, and has until Nov. 16 to regain compliance with the stock exchange. Ernst & Young was new to the job, having just replaced Deloitte & Touche as Super Micro's accounting firm in March 2023. Since the S&P's announced index changes in March, Super Micro's stock has dropped at least 10% on six separate occasions. — CNBC's Rohan Goswami and Kif Leswing contributed to this report WATCH: Super Micro stock is a 'very risky buy'

Persons: Ernst & Young, Deloitte didn't, hasn't, P's, Dow Jones, Kevin Barry, Barry, —, Rohan Goswami, Kif Leswing Organizations: Computer Inc, Bloomberg, Getty, Micro, Nvidia, Ernst, Nasdaq, Mizuho, Deloitte, Touche, CNBC, Ernst & Young, Dell, SEC, Super, Hindenburg Research, Super Micro, U.S, U.S . Super, Whirlpool, P Global Locations: San Jose , California, U.S, That's, U.S .

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