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Researchers have begun measuring the impact of legalized sports gambling on American households, and the initial results paint a worrisome picture about how its expansion has affected bettors’ finances. In separate papers released this month, academics have found that households in states where gambling was legalized saw significantly reduced savings, as well as lower investments in assets like stocks that are generally considered more financially sound. Meanwhile, states that legalized sports betting saw their residents’ aggregate credit scores decrease, while bankruptcies increased. North Carolina became the most recent state to offer online sports betting earlier this year. Earlier this year, the major sports betting platforms formed the Responsible Online Gaming Association to address problem gambling.

Persons: ”, Scott Baker, Charles Schwab, Baker, “ It’s, ” Baker, “ Rather, Brett Hollenbeck, Nicholas Scutari, Adam Candee, Candee, ” Candee Organizations: Northwestern University’s Kellogg School of Management, of Columbia, Trade, Vanguard, Fidelity, UCLA’s Anderson School of Management, Auto, New York, Gaming Commission, Addiction Services, Legal, Online, Association Locations: New York, New Jersey, Puerto Rico, North Carolina, California, Texas, U.S

☆ Wildfires keep hitting the iconic Pacific Crest Trail, forcing closures and evacuations
▼ + stars: | 2024-08-24 | by ( Evan Bush | Evan Bush Is A Science Reporter For Nbc News. | ) www.nbcnews.com time to read: +7 min

Wildfires and their burn scars have made portions of the trail more hazardous and forced hikers to contend with closures on quick notice. Meanwhile, when fast-moving wildfires strike, many rural communities along the trail are finding themselves responsible for helping vulnerable hikers. “Wildfire season is lasting longer, becoming less predictable, affecting more trail, more trail users and more trail communities,” Rylee said. The signals of climate change now stick out on the PCT, said John O’Brien, a California climate scientist who grew up near the trail and hikes on it frequently. Karen Altergott passed through this burn zone in Lassen Volcanic National Park while hiking the Pacific Crest Trail in 2022.

Persons: ” Rylee, John O’Brien, ” O’Brien, Jamie Hale, Teesseling, “ We’ve, ” Thijs Koekkoek, Taime Teesseling, ” Teesseling, ” —, Karen Altergott, Altergott, Karen Altergott “, ” Altergott, “, —, They’re, ”, Becky Wade, Jeff McCabe, Becky Wade McCabe, Wade, McCabe, Shelly, Jeff McCabe's, Becky Wade “, Will Georis, Georis, ” Georis Organizations: “, PCT, Crest Trail, Klamath National Forest, University of California Locations: Sierra Nevada, California, Columbia, Portland ,, Julian, Burney , California, Stehekin , Washington, Hamburg , California, Klamath, ”, Berkeley, Mexico, Canada

☆ Commodity ETFs are sliding in the third quarter. Why that could be positive for patient investors
▼ + stars: | 2024-08-24 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

More than halfway through the third quarter, many of the biggest commodity ETFs in the United States are in sizable holes. Kathy Kriskey, senior commodities ETF strategist at Invesco, said that oil supply is actually tight at the moment. The commodities slump could be partially due to mechanical factors in the market, such as low trading volumes combined with large commodity trading advisors betting against the sector, Kriskey said. "The price of corn has taken almost three full years from those 2022 spike highs to get back down. And oil, one of the biggest weights in commodity indexes, could see stepped up supply in coming months.

Persons: It's, Ryan Grabinski, Strategas, Kathy Kriskey, Kriskey, Sal Gilbertie, We're, Gilbertie, What's, Jerome Powell, Goldman Sachs, Morgan Stanley, Matijn, — CNBC's Michael Bloom Organizations: Strategy, United States Oil Fund, U.S ., Commodities, 4Q, DB Base Metals Fund Locations: United States, Ukraine, U.S, China

☆ VCs are fighting, investors are annoyed, and the presidential election has become a constant distraction that Silicon Valley just wants to be over
▼ + stars: | 2024-08-24 | by ( Ben Bergman | Melia Russell | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. She didn't sign, not because she doesn't support Harris (she does) but because she sees no upside in broadcasting her political intentions. The former president has also received endorsements from famous VCs Marc Andreessen, Ben Horowitz, Doug Leone, and David Sacks. Now, executives are waiting until after the election concludes to make any decision, according to a source familiar with the matter. Publicly supporting candidates has no upside for LPs, especially considering many LPs have their own agendas, added a VC.

Persons: —, Kamala, Kamala Harris, Harris, We're, Joe Biden, David Hornik, Israel —, There's, Leslie Feinzaig, VCs, Elon Musk, Trump, Marc Andreessen, Ben Horowitz, Doug Leone, David Sacks, Reid Hoffman, Reed Hastings, Ron Conway, Graham, Walker, MAGA, they're, Divya Kakkad, Sacks, Jesse Middleton, Middleton, Cameron Lester, Lester, tradespeople, ServiceTitan, I've Organizations: Service, Business, San Francisco, Lobby Capital, August, Republicans, Israel, Netflix, Graham, Craft Ventures, Jefferies, Publicly Locations: San, Silicon Valley, Los Angeles, Bay, New York

☆ Stocks like Nvidia are table-pounding buys, Bank of America says
▼ + stars: | 2024-08-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

The other stocks include: Ralph Lauren, Yeti, Goldman Sachs, and GE Aerospace. "We rate YETI shares Buy as we expect continued momentum supported by new product categories & international expansion," he said. Ralph Lauren "A hit down the fairway," analyst Christopher Nardone titled his recent recap of Ralph Lauren earnings. Meanwhile, Ralph Lauren shares are up 20% this year with plenty more room to run. ... We rate YETI shares Buy as we expect continued momentum supported by new product categories & international expansion.

Persons: Ralph Lauren, Goldman Sachs, Alexander Perry, Perry, Christopher Nardone, Nardone, Ebrahim Poonawala, Goldman, Poonawala Organizations: of America, Nvidia, GE Aerospace, U.S, Goldman, Bank of America, GE, Investment Locations: Europe, China, N.A, North America, N.A .

☆ This woman made up to $110,000 a year as a nanny for the ultra-rich. Here's what she learned from the job
▼ + stars: | 2024-08-24 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +10 min

In Kiser's final year as a nanny during the pandemic, she estimates she took home about $110,000. CNBC spoke with Kiser about some of the financial lessons she learned during her time as a nanny, and why she ultimately left the role. Stephanie Kiser: I read "The Nanny Diaries" when I started my first job. SK: A contract as a nanny is important because there's no human resources; there's no laws protecting you. It seems like nannying work can have a low barrier to entry, with salary growth potential, but then there are all these other risks.

Persons: Stefanie Kiser, Jillian Rahn, Stefanie Kiser Stephanie Kiser, Tim Walz, Kiser, Scarlett Johansson, James Devaney, Ana Teresa Solá, Stephanie Kiser, nannying, I'm, Nannies, nannies, they've, who've, There's, weren't Organizations: Upward Mobility, Mercedes, Hamptons, Finance, CNBC, Upper, Wireimage, Getty, SK, New, Domestic, ATS, Pew Research Center Locations: New York City, America, New York City , New York, United States, New York

☆ Kyiv’s incursion into Russia sends a defiant message to its Western backers: We can win this war
▼ + stars: | 2024-08-24 | by ( Tim Lister | ) edition.cnn.com time to read: +9 min

Just as importantly, it’s also sent a political message to Kyiv’s allies that has changed the prevailing narrative of the war - that Ukrainian forces are doomed to fight an endless rearguard action against superior Russian firepower. A Ukrainian soldier walks past at a city hall in Sudzha, Kursk region, Russia, Friday, Aug. 16, 2024. But Ukrainian forces have shown that the conflict is not a one-way street. For the Ukrainians, sustaining the operation as Russia brings more artillery and aviation to bear will become increasingly difficult. But for every passing day that Ukrainian forces control an area of Russian territory the size of Hong Kong, the Kursk incursion becomes less of a footnote.

Persons: CNN —, it’s, Vladimir Putin, “ Putin, ” Mathieu Boulegue, ”, ” Boulegue, Volodymyr Zelensky, “, ” Mick Ryan, Kursk “, Ryan –, Zelensky, ” Ryan, Boulegue, Sabrina Singh, Josep Borrell, Donald Trump, Olga Tatariuk Organizations: CNN, Institute for, Center for, Kremlin, Ukrainian, Futura, Kyiv, Ukrainian Defense Ministry, NATO, Russian, Chatham House, Special Forces, Special Forces of Locations: Russian, Kursk, Russia, Ukraine, Moscow, Washington, Australia, Kharkiv, Ukrainian, Sudzha, Germany, United States, Chatham, Glushkovo, Kursk Region, Special Forces of Ukraine, Donetsk, Pokrovsk, Hong Kong

☆ Working for Doordash and Grubhub increasingly feels like a 9-5. And that may be bad news for the companies.
▼ + stars: | 2024-08-24 | by ( Alex Bitter | ) www.businessinsider.com time to read: +6 min

Read previewOn weekends, a gig delivery worker in Utah takes out his phone and opens one of three apps to make some extra money as an independent contractor. However, the people doing the work say that things like performance metrics often eat into that flexibility. "It doesn't feel much like I'm on contract," the Utah gig worker told Business Insider. But metrics such as this are just one aspect of delivery gig work that workers say feels like a traditional job. Related storiesFor example, one Chicago delivery worker told BI that he avoids Grubhub due to the app's scheduling feature.

Persons: —, Uber, Grubhub doesn't, Instacart, DoorDash, they're, Grubhub, David Jacobs, Jacobs, there's Organizations: Service, Business, Costco, Walmart, US Department of Labor, Trump, Kogod School of Business, Wall Locations: Utah, Chicago, Seattle

Mortgage rates dropped substantially earlier this month and they remain low today. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-Year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 5.62%, a four-basis-point decrease from the previous week, according to Freddie Mac data. Mortgage rates have been elevated for most of 2024, but they've been trending down in recent months. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: Jerome Powell, Powell, you'll, Freddie Mac, it's Organizations: Federal Reserve, Traders, Zillow Locations: Jackson Hole, Chevron

☆ Don't get your hopes up about the housing market
▼ + stars: | 2024-08-24 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

One of the most painful ways higher interest rates have impacted Americans is through higher housing costs. The combination of high borrowing costs and skyrocketing home prices and rents — caused by a housing shortage — has created an enduring housing affordability crisis. On the one hand, lower borrowing costs would likely make mortgages cheaper for buyers and encourage builders to construct desperately needed new homes. But rate cuts would also spur new home construction, as builders respond to higher demand and lower borrowing costs for acquisition and construction loans. On top of high borrowing costs, builders are struggling with a severe shortage of construction workers and high building material costs.

Persons: —, Jerome Powell, Daryl Fairweather, Wells, underbuilding, Ben Metcalf, Metcalf Organizations: Service, Jackson Hole , Wyoming ., Business, Bank of England, Terner Center, Housing Innovation, UC Berkeley Locations: Jackson Hole , Wyoming

☆ A stretch of Florida beaches has soared from a lesser-known gem to 'the Hamptons of the South'
▼ + stars: | 2024-08-24 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

This story is available exclusively to Business Insider subscribers. A decade ago, those visitors were mostly from Southern cities within driving distance, like Atlanta and Nashville, local real-estate agent Beau Blankenship told Business Insider. Sunset over Rosemary Beach, Florida, in 30A. The boom, Stewart told Business Insider, had two inflection points. Advertisement"There'd be a few vacant lots, and then a house surrounded by trees and brush," he told Business Insider.

Persons: —, Mexico —, Beau Blankenship, It's, Rosemary, Barry Winiker, Blankenship, Alys, Christian Blouin, Kemp Stewart, Rosemary Beach, Stewart, Truman, Kemp, hasn't Organizations: Service, Panama City Beach, Business, Hamptons, Street, The New York Times, Management, BI Locations: Florida, Rosemary, Seaside, Santa Rosa, Mexico, Destin, Panama, Southern, Atlanta, Nashville, Salt Lake City , Utah , Colorado, Walton County, Rosemary Beach , Florida, Inlet Beach, Chicago, Montana, Santa Rosa Beach, Oklahoma, Alys

☆ Do you need a glucose monitor? Wellness enthusiasts are using diabetes arm patches to take control of their blood sugar
▼ + stars: | 2024-08-24 | by ( ) www.businessinsider.com time to read: +11 min

Jacobs started monitoring changes to her blood sugar with the help of a device called a continuous glucose monitor — an increasingly trendy wearable. Continuous glucose monitors, or CGMs for short, were FDA-approved in 1999 for people with diabetes to keep constant tabs on their blood sugar levels. Your blood sugar level measures how much glucose is in your blood, which comes from breaking down carbohydrates you eat for energy. After reading about how age-related hormone changes can affect blood sugar, she started tracking hers, and noticed a pattern. Research doesn't support the fear that rising blood sugar after a meal is cause for concern in otherwise healthy people.

Persons: —, Tracey Jacobs, Jacobs, Dr, Casey Means, CGMs, Gayle Pagano, Pagano, they're, she's, Means, Dane Cronin, Groove, David Klonoff, Jonathan Little, Klonoff, wearables, Little Organizations: Service, Business, FDA, Companies, CGMs, University of British Columbia, Research Locations: Florida, Nutrisense, prediabetes, San Mateo , CA

☆ Living with my parents in Hawaii helped me afford the most expensive state. It was the best option for me after graduating.
▼ + stars: | 2024-08-24 | by ( ) www.businessinsider.com time to read: +4 min

As a native Hawaiian, the Texas life proved to be cheaper than island living — from groceries to gas. I wanted to go back home to Hawaii but felt overwhelmed by the logistics of closing the distance. I had just turned 28 and felt discouraged; I was broke, unemployed, and living with my parents. AdvertisementIf I wanted to call Hawaii home for the foreseeable future, I knew I had to make some financial changes. Living with my parents helped me finally plan for a futureThe US financial system can be difficult to grasp.

Persons: —, I've, I'm Organizations: Service, Business, Hawaii Locations: Austin, Texas, Hawaii, Oahu

☆ 2 reasons why Disney's stock is worth buying despite a theme-park slowdown
▼ + stars: | 2024-08-24 | by ( Paulina Likos | ) www.cnbc.com time to read: +11 min

In fiscal 2022 and 2023 combined, Disney's experiences unit, which houses the parks, generated 67.5% of the company's operating income. That represents a significant deceleration in growth from its first and second quarters, when operating income rose 8% and 12%, respectively. Nispel argued that negative sentiment around Disney's theme parks performance could be a reason to have less conviction on the stock in the near term. The more excitement around its movies, the more interest in everything from theme parks to streaming services to branded merchandise. Operating income, in particular, rose more than $350 million year over year to $254 million.

Persons: that's, Disney, we're, Jim Cramer, Jeff Marks, amortization —, Brandon Nispel, Nispel, Bob Iger, Goldman Sachs, Goldman, Jim, Romulus, King, KeyBanc's Nispel, Jim Cramer's, Mickey Mouse, Minnie Mouse, Gary Hershorn Organizations: Disney, Magic, Club, Magic Kingdom, DIS, Comcast, CNBC, KeyBanc, Universal, Americas, —, Hulu, ESPN, Walt Disney World, Corbis, Getty Locations: California, Florida, Magic, Orlando , Florida, Orlando, Animal Kingdom

☆ I'm a millennial mom of 3, and I rely on my mom's financial assistance
▼ + stars: | 2024-08-24 | by ( Alyse Benoit | ) www.businessinsider.com time to read: +6 min

Without a doubt, my mom expected to be free of dependents decades ago. But here I am, 39, unable to save a cent, in need of her financial support. I was otherwise financially independent, worked three jobs, had a good chunk of money saved, and my life was planned out. Not only was I feeling the effects of financial strain from the cost of school, but physical, mental, and ethical exhaustion had taken hold. She loaned me money to pay off that debt and told me I could pay my rent when I received my next student loan payment.

Persons: stepdad, —, I've Organizations: Service Locations: midlife

☆ Trump’s Carefully Scripted Week Kept Veering Off Script
▼ + stars: | 2024-08-24 | by ( Michael C. Bender | Michael Gold | ) www.nytimes.com time to read: +1 min

Donald J. Trump’s political endurance this year has been attributed in part to voters’ faded memories about why they denied him a second term four years ago. The former president is doing his best to remind them. Despite a carefully scripted week of campaign events aimed at counterprogramming the Democratic National Convention, Mr. Trump undercut much of his messaging with a series of off-the-cuff remarks, rants and blunders that threatened to stoke the kind of Republican anxiety he has spent much of the past month trying to tamp down. On Monday in Pennsylvania, he struggled to clarify a previous comment that he believed the Presidential Medal of Freedom, which honors civilians, was “much better” than the Medal of Honor given to military members. On Tuesday in Michigan, he claimed that Vice President Kamala Harris had won the Democratic nomination after a “vicious, violent overthrow of a president" and called Chicago, which hosted the Democratic convention, “a war zone that’s worse than Afghanistan.”

Persons: Donald J, Trump, Kamala Harris, “, ” Organizations: Democratic National Convention, Mr, stoke, Democratic Locations: Pennsylvania, Michigan, Chicago, Afghanistan

☆ Why Harris’s Barrier-Breaking Bid Feels Nothing Like Hillary Clinton’s
▼ + stars: | 2024-08-24 | by ( Katie Glueck | ) www.nytimes.com time to read: 1 min

They still wear suffragist-white outfits and cheer on the prospect of “Madam President.”But eight years after Hillary Clinton became the first woman to lead a major party’s presidential ticket, Democrats are sending American women a more sober and urgent message even as they try to elect another barrier-breaking candidate. Republican policies, they argue, have had disastrous and once-unthinkable consequences for the health and autonomy of women and their families since the overturning of Roe v. Wade. A second term for former President Donald J. Trump, they warn, would be even more dangerous. “Simply put,” Vice President Kamala Harris said this week from the stage of her party’s convention, “they are out of their minds.”

Persons: ”, Hillary Clinton, Roe, Wade, Donald J, Trump, Kamala Harris, “ Organizations: Republican

☆ Venezuela’s Supreme Court certifies Maduro’s claims that he won presidential election
▼ + stars: | 2024-08-23 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +3 min

CARACAS, Venezuela — Venezuela’s Supreme Court has backed President Nicolás Maduro’s claims that he won last month’s presidential election and said voting tallies published online showing he lost by a landslide were forged. The high court is packed with Maduro loyalists and has almost never ruled against the government. Venezuelan Supreme Court of Justice President Caryslia Rodriguez in Caracas on Aug. 22. Gabriel Boric, the leftist president of Chile and one of the main critics of Maduro’s election gambit, lambasted the high court’s certification. “Today, Venezuela’s TSJ has finally consolidated the fraud,” he said on his X account referring to the initials of the high court.

Persons: Venezuela —, Nicolás Maduro’s, Maduro, Caryslia Rodriguez, Federico Parra, Edmundo González, ” González, Maria Corina Machado, Nicolas Maduro, Cristian Hernandez, González, Gabriel Boric, Venezuela’s TSJ, ” Organizations: Venezuela — Venezuela’s, Venezuelan, Getty, United Nations, Carter Center Locations: CARACAS, Venezuela, Caracas, AFP, Venezuelan, North Macedonia, Chile

PHOENIX — Robert F. Kennedy Jr.'s campaign told a Pennsylvania court that he will be endorsing former President Donald Trump, ahead of his own Friday afternoon announcement putting to rest a tumultuous independent presidential campaign. The filing came shortly before Kennedy took the stage at an Arizona press conference where he announced the end his presidential campaign. The Kennedy campaign spent more than $8 million on campaign consulting from Accelevate 2020 LLC, a group that also does ballot-access work. Overall, the campaign effectively raised what it spent — it amassed $57.6 million and spent almost $54 million through July. Federal campaign finance records show Kennedy’s campaign spent more than $3 million on security services provided by Gavin de Becker, a prominent security consultant protecting celebrities who is also a Kennedy supporter and friend.

Persons: Robert F, Kennedy Jr, Donald Trump, Kennedy, Trump, Kamala Harris, Biden's, Harris, Vladimir Putin, —, they’d, “, ”, Nicole Shanahan, Walz, ” Shanahan, Shanahan, I’m, Gavin de Becker, Katherine Koretski, Ben Kamisar Organizations: PHOENIX, Democratic Party, Trump, Democratic, Democrat, NBC News, Accelevate, Trump Republican Locations: Pennsylvania, United States, Arizona, Glendale, Trump, New, New York, Kamala, Phoenix, Washington ,

☆ Why Ford believes its $1.9 billion shift in EV strategy is the right choice for the company
▼ + stars: | 2024-08-23 | by ( Michael Wayland | ) www.nbcnews.com time to read: +8 min

So it might surprise investors that the automaker believes its new path to profitability for electric vehicles will first be led by smaller, more affordable vehicles. “We’re quite convinced that the highest adoption rates for electric vehicles will be in the affordable segment on the lower size-end of the range,” he told CNBC on Thursday. Gjaja’s comments came a day after the automaker announced updates to its EV strategy that will cost up to $1.9 billion. Gjaja said the decision wasn’t taken lightly, especially the cancellation of the upcoming three-row vehicle, which Ford CEO Jim Farley and other executives had been touting as a game changer for several years. He said the Ford, in part, developed the skunkworks team to prove that Ford can compete against the Chinese automakers.

Persons: Marin Gjaja, We’re, “, Warren Buffett, Gjaja, Jim Farley, ” Farley, Ford, ” BofA’s John Murphy, John Lawler, Lawler, ” Gjaja, ” There’s, we’ve, ” Ford, Thursday, ” Organizations: DETROIT, Ford, CNBC, North America, EV, “, ICE, Wall Street, GM, General Motors Locations: U.S, Europe, North, California, China, ”

☆ US stocks are overvalued because of unrealistic expectations for AI-powered economic growth, Vanguard says
▼ + stars: | 2024-08-23 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Investors are too optimistic about the near-term prospects of AI, Vanguard said. "This is double the annualized rate of the 1920s, when electricity lit up the nation," Vanguard wrote. AdvertisementBut Vanguard global chief economist Joe Davis thinks expectations are too high, and says that stocks are overvalued even if the AI boom plays out as anticipated. For context, the S&P 500's trailing one-year earnings growth rate through the second quarter of 2024 was 10.9%, according to FactSet data. That's probably not going to happen, which means we're unlikely to experience an AI-driven economic boom in 2025," he said.

Persons: —, Joe Davis, It's, Davis, BlackRock Organizations: Vanguard, Service

☆ Why Ford believes its $1.9 billion shift in EV strategy is the right choice for the company, investors
▼ + stars: | 2024-08-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

In this article F Follow your favorite stocks CREATE FREE ACCOUNTA banner advertises the Ford Mustang Mach-E electric vehicle at a Ford dealership on August 21, 2024 in Glendale, California. So it might surprise investors that the automaker believes its new path to profitability for electric vehicles will first be led by smaller, more affordable vehicles. "We're quite convinced that the highest adoption rates for electric vehicles will be in the affordable segment on the lower size-end of the range," he told CNBC on Thursday. Gjaja's comments come a day after the automaker announced updates to its EV strategy that will cost up to $1.9 billion. He said the Ford, in part, developed the "skunkworks" team to prove that Ford can compete against the Chinese automakers.

Persons: Mario Tama, Marin Gjaja, Warren Buffett, Gjaja, Jim Farley, Farley, Ford, BofA's John Murphy, John Lawler, Lawler, There's, we've, Michael Wayland Organizations: Ford, Getty, DETROIT, CNBC, North America, EV, Wall Street, GM, General Motors Locations: Glendale , California, U.S, Europe, North, California, China

☆ Is Nvidia's earnings report really make or break? Here's why we don't think so
▼ + stars: | 2024-08-23 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

While expectations are high and caution is certainly warranted, we don't think it's quite that simple. While the Oscillator and Williams' work do point to possible selling pressure ahead, we don't want to get too bearish. However, we don't think the risks are so elevated as to warrant more than a small cash raise. We still view Nvidia as an "own it, don't trade it" stock, but we also don't keep our heads in the sand. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Larry Williams, Williams, Jim, Estee Lauder, Morgan Stanley, hasn't, they've, We're, Jim Cramer's, Dominika Organizations: Nvidia, Club, Abbott Laboratories, Federal, Blackwell, Apple, Microsoft, Super Six, Jim Cramer's Charitable, CNBC, Nurphoto, Getty Locations: Williams

☆ How Google makes custom chips used to train Apple AI models and its own chatbot, Gemini
▼ + stars: | 2024-08-23 | by ( Katie Tarasov | ) www.cnbc.com time to read: +7 min

He's been covering Google's custom cloud chips since they launched in 2015. Google was the first cloud provider to make custom AI chips. Microsoft 's first custom AI chip, Maia, wasn't announced until the end of 2023. But being first in AI chips hasn't translated to a top spot in the overall rat race of generative AI. Google TPUs still dominate among custom cloud AI accelerators, with 58% of the market share, according to The Futurum Group.

Persons: Google's, Daniel Newman, He's, Maia, wasn't, Gemini, OpenAI's ChatGPT, Newman, Amin Vahdat, Marc Ganley, Vahdat, they've, Stacy Rasgon, Rasgon, it's Organizations: Google, Apple, Apple Intelligence, Nvidia, Futurum, Amazon Web Services, Microsoft, CNBC, Systems, Unit, Bernstein Research, Broadcom, TSMC, Trillium, Taiwan Semiconductor Manufacturing Company, Intel, Samsung Locations: Mountain View , California, China, Taiwan, U.S

☆ Here are Friday's biggest analyst calls: Nvidia, Peloton, Chewy, Uber, Burlington Stores, BJ's Wholesale Club, Roku and more
▼ + stars: | 2024-08-23 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

JPMorgan downgrades Peloton to neutral from overweight "Following Thursday's +35% appreciation (vs. SPX -1%) we are moving from Overweight to Neutral rated as PTON's return to growth in CF Subs & Revenue remains challenging, & visibility is limited given secular & macro pressures." Wells Fargo reiterates Burlington Stores as top pick "We reiterate BURL as our "Top Pick" and see a highly visible growth/margin bull case unfolding in real time. The combination of 1) comp acceleration and 2) margin unlocks should be powerful, and we raise 2Q/FY numbers above Street. Wells Fargo upgrades BJ's Wholesale Club to overweight from equal weight "Margin investment is the right strategic shift despite n/t pain, and supplements robust member gains. Valuation is tricky, but comp ramp/return to algo in '25 point to upside."

Persons: Piper Sandler, Warby Parker, Uber, Nomura, Wells, BURL, Goldman Sachs, Bill.com, Guggenheim Organizations: Nvidia, RBC, Westlake, JPMorgan, CF Subs, Revenue, Bank of America, Waymo, Tesla, Burlington Stores, Wholesale

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