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The 2024 Latin Grammy Awards are here — and it's a milestone anniversary. This year the event celebrates 25 years of honoring the best of Latin music in Spanish and Portuguese. More than 700 artists were nominated across 58 categories this year, according to Manuel Abud, CEO of the Latin Recording Academy. Latin music icon Marc Anthony will also executive produce a special segment, with salsa great Sergio George, to pay homage to the tropical music genre. Puerto Rican artist Kany García performed during the pre-show and won best singer-songwriter song with "García."
Persons: — it's, Manuel Abud, Bad, Anitta, Karol G, Luis Fonsi, Pitbull, Juan Luis Guerra, Carlos Vives, Marc Anthony, Sergio George, Edgar Barrera, Barrera, Nathy Peluso, Amar, Peluso, Kany García Organizations: Kaseya, Latin Recording Academy, Shakira, Latin, Grupo Frontera, Miami Beach Convention, Juventud, Univision Locations: Miami, U.S, Colombian, Mexican American, Spanish Argentine, Puerto Rican
Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. "The backdrop is already a more volatile FX market," Webb said, comparing markets now to when Trump was inaugurated in January 2017. But market volatility is at its lowest level since July, based on the VIX Index, Wall Street's favorite measure of uneasiness. Universa has demand for its strategy, Yarckin said, but it's coming from "a small subset of people." "I wonder if this is being underestimated" by the markets, Webb said.
Persons: Warren Buffett, , Donald Trump, Jonathan Webb, Webb, Trump, Wall, Brandon Yarckin, Universa, Warren, Berkshire Hathaway, Yarckin, Simon Aninat, haven't, Mark Spitznagel, Aninant, Mattias Eriksson, Eriksson, Elon Musk, It's Organizations: Universa Investments, Service, Twitter, C8 Technologies, Jefferies, Business, Oracle Locations: Omaha
Some of the biggest stars in Latin music will gather Thursday for the 25th anniversary of the Grammys in Miami — a hub of Latin American culture and the headquarters of the Latin Recording Academy. There are some new additions to this year’s Latin Grammys, too: best Latin electronic music performance and best contemporary Mexican music album will be featured as categories for the first time ever. “As we approach the 25th edition of the Latin GRAMMYs, our Awards Process is more robust than ever, with our membership evaluating over 23,000 entries this year,” Latin Recording Academy CEO Manuel Abud said. “The Latin GRAMMYs have grown in an amazing way to become a fundamental platform for music and culture. The Latin Grammys will take place at Miami's Kaseya Center at 8 p.m.
Persons: Édgar Barrera —, Karol G, Bunny, Kali Uchis, Juan Luis Guerra, Kany, Carin Leon, Camilo, Carín, Una Vida Pasada, Manuel Abud Organizations: Latin Recording, Recording, Univision Locations: Miami —, Seville, Spain, Feid
The CBOE Volatility Index , known on Wall Street as the VIX, helps traders track when a market rally is actually unhealthy, said DataTrek co-founder Nicholas Colas. Monday's close for the VIX around 15 "is a healthy sign" for the temperature of the market as it advances, Colas wrote to clients. To put it succinctly: "Rallies built on an elevated VIX signal a bubble," he wrote. That's a lesson market participants learned, during the dot-com bubble of the mid- to late-1990s, he said. In the current bull market, dating back to the fourth quarter of 2022, however, the VIX has been largely "well behaved," Colas argued.
Persons: DataTrek, Nicholas Colas, Donald Trump, , Monday's, Colas, That's, Jessica Rabe, Trump Organizations: Research, U.S
The S & P 500 is on pace to deliver a second straight year of gains above 20%. After last week's postelection rally, the S & P 500 is now up by about 26% on the year. .SPX YTD mountain S & P 500, year to date Thatte called the market advance "exceptional," even before last week's surge to all-time highs. That means that, if history repeats itself, the S & P 500 should end 2024 above 6,000. What's more, Oppenheimer found that gain matching the median advance in those 11 years would push the S & P 500 to finish higher than 6,200.
Persons: week's, Parag, Donald Trump, Thatte, That's, Oppenheimer Organizations: Deutsche Bank
Several stocks could rise if market volatility scales back after Tuesday's U.S. presidential election, according to a Bank of America analysis. Stock market volatility climbed ahead of the election, with the Cboe Volatility Index , known as Wall Street's "fear gauge," crossing 23 on Thursday. But with the winner of the election decided, the VIX has eased to around 16 on Wednesday. To react to this scenario, Bank of America screened for several lower-quality stocks inversely correlated to the VIX that could see a pop in their share prices. Morgan Stanley revised its 2024-25 revenue estimates on NXP lower, expecting a period of stagnation in the automotive semiconductor market.
Persons: Morgan Stanley, Brandon Berman Organizations: U.S, Bank of America, Semiconductors, Builders, United Rentals, Autodesk, financials Citigroup, Blackstone, Citigroup Locations: Netherlands, Europe, Americas
.SPX YTD mountain S & P 500, YTD It's because the economy and earnings remain resilient. That is the main reason the S & P 500 is less than 2% from its historic high. Third quarter earnings for the S & P 500 are up 8.4%, well above the 6.0% estimated at the start of October. It's fourth quarter earnings that matter Remember, the most important thing to watch is the trend and whether it is accelerating or decelerating. The S & P 500 is up 50% in those two years.
Persons: There's, Tom Lee, Phil Mackintosh, Mackintosh, John Butters, Scott Chronert, Alec Young, MapSignals.com, Young, We're Organizations: Tech, Nasdaq, Democrat, Republican, Citigroup Locations: backwardation
There is uncertainty abound about the future direction of the stock market heading into what many say is the most important presidential election of our lifetimes. In the elevated volatility levels that began in late September heading into the election. The Cboe Volatility Index (VIX in black) trades with an inverse relationship to the S & P 500. As the S & P 500 goes lower, people become fearful as they buy put option protection pushing the general level of option prices (both puts and calls) higher. This creates the inverse relationship of VIX and S & P 500.
Persons: NVDA, we'll, we're, Todd Gordon, Gordon, Schwab Organizations: Nvidia, Google, Inside Edge, CNBC, NBC UNIVERSAL Locations: NVDA
The S & P 500 is toting a 1.3% gain in October, but it's up more than 22% in 2024. He said his team expects the CBOE Volatility Index (VIX) , a measure of expected volatility, to remain elevated around 20 until after Election Day. Individual investors are already expressing some worries about how the markets might behave in the run-up to Nov. 5 – and the days that follow. Cash-secured puts can offer investors an opportunity to put cash to work and generate some income, he said. Covered call strategies have also come into play as a potential way for investors to contend with concentrated positions, he added.
Persons: Craig Johnson, Piper Sandler, Logan Queck, I'm, Malcolm Ethridge, Ethridge, they've, Ashton Lawrence, Cash, Lawrence Organizations: Wealth, CFP, Capital, IRS, Investment Company Institute, Mariner Wealth Advisors Locations: West Des Moines , Iowa, Washington ,, Greenville , South Carolina
Quantitative and technical strategist Javed Mirza pointed out in a note to clients that the Nasdaq 100 has not set a record high since July. On Monday, the Nasdaq 100 was trading about 2% below its record close. "The Nasdaq 100 just triggered a new short-term 'mechanical sell' signal, diverging from the other North American equity indices," Mirza said. The Nasdaq 100's slump is not the only factor pointing to toward a new phase for the bull market. To be sure, even the late stage phases of a bull market can last for quite a while.
Persons: Raymond James, Javed Mirza, Mirza, Dow Jones Organizations: Nasdaq, TSX, Canadian
Fully 90% expect a "soft landing," or "no landing" at all (i.e. That's not the case here: the Fed is cutting rates going into, at worst, a soft landing, which is very unusual. The S & P 500 was up 2.0% in September and is higher by 0.9% so far in October. Historically, the S & P tends to rise beginning in the last week of October and through November and December. Goldman Sachs noted that, since 1928, the median S & P 500 return from October 15 to December 31 has been 5.17%.
Persons: That's, Alicia Levine, BNY, Goldman Sachs, Goldman, buybacks, Stocks, there's, AAII, BofA Organizations: America, Trump, Bank of America Global Fund, Survey, Fed, buybacks, American Association of Locations: U.S, frothy
This time of year typically tests nerves, more so when — as now — an election is onrushing and the S & P 500 was already up 20% for the year. Since June 30, the equal-weighted S & P 500 has gained 9.5%, more than triple the Nasdaq 100's rise. A buyer at the mid-July S & P 500 peak of 5667 sustained a quick 8% tumble in three weeks. Goldman Sachs calculated VIX being this elevated with the S & P 500 calmly clicking to record highs is essentially unheard-of. Cash that's still yielding well more than inflation and bonds holding their value allow investors to shoulder higher equity exposures rather than rotating out.
Persons: isn't, it's, Goldman Sachs, Cash, Friday's Organizations: Federal Reserve, Nasdaq, American Association of, Deutsche, , Bank
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
Investors are seeking S&P 500 downside protection as rate cuts shift focus to growth concerns. S&P 500 long-dated put options are a preferred approach int he current market environment. Demand for downside protection on the S&P 500 is starting to build. But one approach that's beginning to pick up, with advantages in the current market environment, is hedging S&P 500 downside through options contracts. Annually, the CBOE Volatility Index (VIX) — a measurement of implied volatility — gradually rises starting in the middle of summer and into October.
Persons: , Tanvir Sandhu, Sandhu, Brent Organizations: Service, Bloomberg Intelligence
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. AdvertisementOne election result may cause 'seismic shocks'Partisans are convinced that this election is the most important ever, as they always are. The market isn't convinced, judging by where the VIX is trading just a month away from election day. "Let's think about a world where Trump gets into power and poses a 60% tariff on China," Orlik said.
Persons: there's, Tom Orlik, , Tim Walz, JD Vance, Kamala Harris, Donald Trump, shouldn't, who'd, Nancy Davis, Davis, Tanvir Sandhu, Sandhu, Chris Murphy, Murphy, Harris, Trump, Joe Biden, Orlik, Trump's, Murphy isn't, I'm Organizations: Service, Bloomberg, White, Trump, Bloomberg Economics, Bloomberg Intelligence, Traders, Biden, Nvidia, Qualcomm Locations: Susquehanna, China
October is already living up to its volatile reputation
  + stars: | 2024-10-02 | by ( Fred Imbert | ) www.cnbc.com   time to read: +2 min
The S & P 500 fell nearly 1% to kick off the new month of trading. The Nasdaq Composite shed more than 1.5%, and the Dow Jones Industrial Average lost 0.4%, or 173 points. The Cboe Volatility Index , Wall Street's preferred fear gauge, swelled abpve 20 — its highest level since Sept. 11. I am bracing for added volatility and the market to over-trade daily headlines and themes," he said in a note to clients Wednesday. CNBC Pro found that the S & P 500 averages a daily move of 1.3% in either direction in October, based on FactSet data going back to 1950.
Persons: Street's, Scott Rubner, Goldman Sachs, Baird, Harley, Davidson Organizations: Nasdaq, Dow Jones Industrial, West Texas, CNBC Pro Locations: Iran, Israel, Lebanon, Milwaukee
CNBC Daily Open: Soft landing hit by minor turbulence
  + stars: | 2024-10-02 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +2 min
Mark Felix | Afp | Getty ImagesThis 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. Port workers along the U.S. East Coast and Gulf Coast started striking Tuesday. It's just the first days of the port strike and flare-up in Middle East tensions, however. The best-case scenario would be that recent events are just minor turbulence on the way to a soft landing.
Persons: Mark Felix, Kathy Hochul, Adam Kamins, Christopher Ball, Piper Sandler, Campbell, It's, Steve Liesman, Jeff Cox, Fred Imbert, Lori Ann LaRocco, Sean Conlon, Alex Harring, Brian Evans Organizations: Afp, Getty, CNBC, U.S ., Gulf Coast, New, Moody's, Quinnipiac University, Nasdaq, Nvidia, Apple Locations: Seabrook , Texas, Port, U.S, U.S . East Coast, New York, New Jersey, Iran, Major U.S, East
CNBC Daily Open: Minor turbulence for the soft landing
  + stars: | 2024-10-02 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +2 min
Kirk Side | Houston Chronicle | Getty ImagesThis 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. Port workers along the U.S. East Coast and Gulf Coast started striking Tuesday. Higher oil prices pose a risk to inflation resurging, or at least slowing less than everyone is hoping for. The best-case scenario would be that recent events are just minor turbulence on the way to a soft landing.
Persons: Seabrook . Kirk, Kathy Hochul, Adam Kamins, Christopher Ball, Piper Sandler, Campbell, It's, Steve Liesman, Jeff Cox, Fred Imbert, Lori Ann LaRocco, Sean Conlon, Alex Harring, Brian Evans Organizations: Houston Chronicle, CNBC, U.S ., Gulf Coast, New, Moody's, Quinnipiac University, Nasdaq, Nvidia, Apple Locations: Seabrook ., Port, U.S, U.S . East Coast, New York, New Jersey, Iran, Major U.S, East
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe volatility of the VIX has picked substantially, says RBC's Amy Wu SilvermanAmy Wu Silverman, RBC Capital Markets head of derivatives strategy, joins 'Squawk Box' to discuss the latest market trends, what options are saying about equities and volatility, and more.
Persons: Amy Wu Silverman Amy Wu Silverman Organizations: RBC Capital Markets
The final three-month stretch of 2024 is here, and Wall Street is riding high. RBC head of derivatives strategy Amy Wu Silverman noted her clients are bracing for "3 standard-deviation drawdowns" in coming weeks. The VVIX gauges the volatility of the Cboe Volatility Index (VIX) itself — seen by many as Wall Street's preferred measurement of how much investor fear is in the market. That … is a very different narrative from the first six months of this year," Wu Silverman added. Elsewhere on Wall Street this morning, Pivotal Research Group initiated analyst coverage of Alphabet , the parent of Google and YouTube, with a buy rating.
Persons: Ryan Detrick, Dow, Amy Wu Silverman, Wu Silverman, CNBC's, Wall, GOOG, Jeffrey Wlodarczak Organizations: Investment, Carson Group, Dow Jones Industrial, Nasdaq, Federal Reserve, Fed, CNBC, RBC, Research Group, Google, YouTube Locations: China
Traders work on the floor of the New York Stock exchange during morning trading on May 17, 2024. Stock futures slipped in overnight trading following a sour start to the new trading month and final quarter of 2024. Futures tied to the Dow Jones Industrial Average edged down 80 points, while S&P 500 futures and Nasdaq-100 futures lost about 0.1% and 0.2%, respectively. In after-hours action, Nike slid about 7% after the sneaker giant pulled its full-year guidance ahead of its CEO change. Ahead of Friday's keynote September jobs report, Wall Street on Wednesday will gain insight into the state of private payrolls with ADP's Employment Survey.
Persons: Elliott Hill, Ryan Detrick, nonfarm Organizations: New York Stock, Stock, Dow Jones, Nasdaq, Nike, LPL, Apple, Nvidia, Microsoft, Tesla, U.S, Treasury, ADP's, Federal Locations: Iran, Israel, Lebanon
Then there's the upside progress made in the third quarter without the leadership of super-cap tech – the equal-weighted S & P 500 is up nearly 9% since June 30 and the Nasdaq 100 up less than 2%. Goldman Sachs here plots the S & P 500 forward P/E at the time of each initial rate cut in a cycle. For sure, a breather would make sense for the broad market, with the S & P 500 up 11 of the past 15 days. In either case, it's a notable deviation from the story of placid strength being told by the S & P 500 itself. The median Wall Street strategist target for the S & P 500 is now well below the current index level, usually not something one sees at an ultimate market peak.
Persons: Scott Chronert, isn't, Goldman Sachs, it's, John Kolovos, Bitcoin's Organizations: Nasdaq, Citi, Fed Locations: China
This signal comes as the S & P 500 trades at all-time highs, boosted by a shift in Federal Reserve policy. The Fed earlier this month cut interest rates by a half percentage point, the first easing of policy in more than four years. Wall Street sees further reductions ahead, too. The Cboe Volatilty Index spiked north of 23 earlier this month, as worries over the U.S. economy weighed on sentiment. Elsewhere on Wall Street this morning , Morgan Stanley upgraded Wynn Resorts to overweight from equal weight.
Persons: Wolfe, Janney Montgomery Scott, Dan Wantrobski, Wantrobski, Morgan Stanley, WYNN's Organizations: Federal, Wynn Resorts Locations: U.S
The CBOE Volatility Index , or VIX, fell below 16 on Monday and is now flirting with its lowest level since the July doldrums. "Our historical study of volatility shows that the VIX averaged 22 points in October, 4 points above the current VIX level. We believe the low implied volatility, upcoming October earnings season and elections provide an attractive opportunity for investors to hedge a potential rise in volatility," the note said. The options would have a strike price of 18 and expire in November, serving as a bet that expectations of volatility will rise as the election nears. There are no additional losses on the trade if the VIX actually declines instead.
Persons: Goldman Sachs, Arun Prakash, Prakash, VIX, seasonality Organizations: U.S
By 2017, he decided he had to pivot and elected to give stock trading a try. "You're going to panic-sell at the lows; you're going to panic-buy at the highs. You're going to trade when the stock is zigging and zagging and get chopped up. Related storiesOn a chart, it can often look like a wide space between two candles after the stock's price opens significantly higher than where it was in premarket hours. AdvertisementOn January 19, during pre-market hours, the stock's price spiked, causing a gap up on the opening.
Persons: Christian Flanders, Flanders, Norman Zadeh, it's Organizations: Service, Business, US, IT Solutions Locations: Flanders, he's
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