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That is a big blow to the idea of “Bidenomics,” of which Mr. Bernstein was a leading evangelist and architect. The U.S. economy recovered from the pandemic with greater strength than any of its peers. Unemployment stayed below 4 percent for the longest stretch since the 1960s, and remains low. Several prominent economists, peers of Mr. Bernstein’s, argue that the administration’s robust fiscal response caused the inflation. And other issues of affordability — especially housing — have sapped the optimism of many households in the last couple of years.
Persons: Jared Bernstein, Donald J, Trump’s, , Bernstein, Biden’s, Bernstein’s Organizations: White House Council, Economic Advisers Locations: U.S
The deal includes an agreement for Anthropic to use Amazon's AI chips more. The goal of all this money is mainly to get Amazon's AI chips to be used more often to train and run large language models. It's also going to help Amazon design future Trainium chips and contribute to building out an Amazon AI model development platform called AWS Neuron. The Information reported recently that Anthropic prefers to use Nvidia GPUs, rather than Amazon AI chips. In May, Bernstein analyst Stacy Rasgon told Business Insider he wasn't aware of any companies using Amazon chips at scale.
Persons: Anthropic, It's, Dario Amodei, we've, Andy Jassy, Bernstein, Stacy Rasgon, Jassy, Amodei Organizations: Amazon, Nvidia, Business, Google, Locations: Anthropic, San Francisco
There's no denying how important Nvidia is to the stock market. Stock futures followed Nvidia's lead, riding slight losses at the time. In that time, stock futures recovered their earlier losses and were last up around 0.5%. Many firms lifted their price targets on the chipmaker, including Citi, Wells Fargo and Bernstein . Elsewhere Thursday morning on Wall Street, Wells Fargo initiated GE Vernova as overweight, citing growing power demand from artificial intelligence.
Persons: Nvidia's, Wells Fargo, Bernstein Organizations: Nvidia, Barclays, Bank of America, Citi, GE Vernova Locations: Wells Fargo
Investors shouldn't let a smaller-than-expected guidance beat overshadow tailwinds from Nvidia's looming Blackwell graphics processing unit rollout come January. Citi's Atif Malik lifted the firm's price target to $175 and opened a positive catalyst ahead of the consumer electronics show in January. Wells Fargo's Aaron Rakers moved to a $185 price target, reflecting 27% upside from Wednesday's close. Meanwhile, JPMorgan's Harlan Sur lifted his price target to $170 a share, saying that margins should improve toward the mid-70s range in the second half of 2025 as Nvidia streamlines costs. What's next for the stock Despite strong Blackwell expectations, some analysts warn of potential near-term volatility.
Persons: Wall, Blackwell, NVDA, Jefferies, Blayne Curtis, Citi's Atif Malik, Wells, Aaron Rakers, Bernstein's Stacy Rasgon, JPMorgan's Harlan Sur, What's, America's Vivek Arya, Tom O'Malley, Baruah, Cantor, C.J, Muse, Morgan Stanley, Joseph Moore Organizations: tailwinds, Blackwell, Nvidia, America's, Barclays Locations: Nvidia's
President-elect Donald Trump's second term could spell big gains for Robinhood , according to Bernstein. Analyst Gautam Chhugani, who has an outperform rating on the stock, increased his price target by $21 to $51 and named it his top "crypto deregulation" trade. "But under a potentially new pro-crypto SEC, this looks set to change, and we expect HOOD to be the biggest beneficiary of crypto regulatory tailwinds." Among the 17 analysts covering Robinhood, nine have a strong buy or buy rating, according to LSEG data. On the other hand, seven have taken a neutral stance with a hold rating and one has an underperform rating.
Persons: Donald Trump's, Bernstein, Gautam Chhugani, skyrockets, Chhugani, Gary Gensler, HOOD, , Oppenheimer, Teresa Goody Guillén –, BakerHostetler, Trump, Owen Lau Organizations: Robinhood, Securities and Exchange Commission, Trump, SEC Locations: HOOD
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Messy quarter' for Target, margin headwinds may continue, says Bernstein's Zhihan MaZhihan Ma, Bernstein analyst, joins CNBC's 'Money Movers' to discuss how concerned investors should be about Target's earnings miss, whether the company should change their mix of food and retail, and more.
Persons: Bernstein's, Ma Zhihan Ma, Bernstein Organizations: Target
Jim Cramer said Wednesday he's feeling even better about Apple after a new piece of Wall Street research. "This piece makes me feel more confident [about Apple]," Jim said Wednesday. "They are transitioning in a very deft way from making China by far their biggest market to India," Jim said. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. An Apple logo is displayed on a smartphone with stock market values in the background.
Persons: Jim Cramer, Bernstein, Toni Sacconaghi, , Jim, Donald Trump's, Jim Cramer's Organizations: Apple, JPMorgan, Apple's, F1Q25, UBS, Apple Intelligence, CNBC, Getty Locations: China, India, Philippines, Indonesia
Here are Wednesday's biggest calls on Wall Street: Loop reiterates Nvidia as buy The firm said it's standing by the stock heading into earnings on Wednesday. "We see more upside potential and are moving up our target price to $51 from $30. Pivotal reiterates Netflix as buy Pivotal raised its price target on Netflix to a Street high $1,100 from $925. Goldman Sachs reiterates Microsoft as buy Goldman said it's standing by the stock following the company's Ignite Conference in Chicago on Tuesday. Citi downgrades Target to neutral from buy The firm downgraded the stock following earnings on Wednesday morning and says it's losing share.
Persons: NVDA, hasn't, Bernstein, Robinhood, HOOD, Tyson, Paul, Apple, Goldman Sachs, Goldman, Piper Sandler, Piper, Morgan Stanley, it's, DELL, qtr, Guggenheim, Oppenheimer, JPMorgan Chase, Cava Organizations: Nvidia, Deutsche Bank, Gaming, Leisure Properties, Deutsche, Netflix, Bank of America, Walmart, Microsoft, Adobe, JPMorgan, Dell, of America, Underperform, Trump, Barclays, Newell Brands, Citi, Target, TGT, HSBC Locations: Chicago
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBernstein's Alexia Howard on what RFK Jr. as Trump's HHS secretary would mean for the food industryAlexia Howard, equity research analyst at Bernstein, joins CNBC's 'The Exchange' to discuss how to trade food stocks as discussions about ingredients ramp up, how the food industry could change under a new Trump term, and more.
Persons: Alexia Howard, Bernstein Organizations: RFK, Trump
AdvertisementCompetition from driverless taxis could reduce Uber and Lyft drivers' earnings in the years to come. Many drivers told BI that the gig has become less profitable recently due to increased competition. As the adoption of driverless taxis spreads across the US, ride-hailing experts told Business Insider that Uber and Lyft drivers could see their earning opportunities slowly deteriorate. Garin said that many ride-hailing drivers work part-time and don't rely on the gig as their primary source of income. A Lyft spokesperson did not respond to BI's question about the impacts driverless taxis could have on ride-hailing drivers.
Persons: Carl Benedikt Frey, Frey, Waymo, Uber, robotaxis, Andrew Garin, Garin, who've, Lyft, Sergio Avedian, Guy, Bernstein, Nicole Moore, Lindsey Cameron, we've, we're Organizations: Oxford Internet Institute, Drivers, Carnegie Mellon University's Heinz, Atlanta, Phoenix, Mobileye, Wharton School, University of Pennsylvania Locations: San Francisco, Phoenix, Las Vegas, Los Angeles, Austin, Aurora, China
Nasdaq rebounds after rough week
  + stars: | 2024-11-18 | by ( ) 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 EmailNasdaq rebounds after rough weekRichard Bernstein, Richard Bernstein Advisors CEO, and Sameer Samana, Wells Fargo Investment Institute senior global market strategist, joins 'Closing Bell Overtime' to talk the day's market action.
Persons: Richard Bernstein, Sameer Samana Organizations: Wells Fargo Investment Institute Locations: Wells Fargo
Pure-play electric vehicle stocks like Rivian and Lucid are flat and down more than 3%, respectively, since Trump's victory. So why is Tesla soaring even as a second Trump administration is expected to fundamentally disrupt the U.S. electric vehicle market? And increased tariffs could make inputs for electric vehicles more expensive. These headwinds ignore the fact that Trump's new best friend is Tesla CEO Elon Musk, Bernstein analyst Toni Sacconaghi told clients in a Monday note. But Tesla's fundamentals are largely steady postelection, while Musk's relationship with Trump underlines how Tesla largely controls the self-driving vehicle narrative, the analyst said.
Persons: Tesla, Donald Trump, Trump, Elon Musk, Bernstein, Toni Sacconaghi, Musk, Vivek Ramaswamy, Sacconaghi, Dan Levy, Levy Organizations: U.S, Ford, General Motors, Trump, GOP, UBS, Bloomberg News, Traffic, Administration, Barclays, Tesla Locations: Friday's
Here are Monday's biggest calls on Wall Street: Oppenheimer reiterates Netflix as outperform Oppenheimer said the Jake Paul-Mike Tyson fight "demonstrates [the] ability for meaningful" live event viewership for Netflix. Goldman Sachs initiates Ingram Micro as buy Goldman said the IT solutions provider is well positioned. Goldman Sachs initiates Gatx as buy Goldman said it's bullish on the railcar company. Baird upgrades Roku to outperform from neutral Baird said in its upgrade of Roku that it sees an "attractive long-term opportunity." Needham upgrades Robin Hood to buy from hold Needham said the stock is a beneficiary of the Trump election.
Persons: Oppenheimer, Jake Paul, Mike Tyson, it's bullish, Goldman Sachs, Ingram, Goldman, Baird, Morgan Stanley, Raymond James, Wells, Needham, Biogen, it's, Robin Hood, Trump, Donald Trump's, Bernstein, Tesla Organizations: Netflix, Citi, Astera, Ingram, GATX Corporation, RBC, UBS, Franco, Wheaton Precious Metals, WPM, HSBC, Moderna, Air Products, Hewlett Packard Enterprise, Enterprise, Aetna, Bank of America, Nvidia, " Bank of America, DOJ, Google, BMO, SEC, EV Locations: Nevada, Asia
Under a 25% tariff on goods from China, the Wall Street investment bank sees an EPS loss for Apple of 9.2%. Those estimates make Apple the fifth most vulnerable tech company to potential tariffs on goods from China in Morgan Stanley's research coverage. Bank of America analyst Wamsi Mohan agrees, seeing any tariff impact as "manageable." He sees a 60% tariff on Chinese goods possibly resulting in about a 4% hit to Apple's EPS. By contrast, Dell – which he noted looks positioned to be "most vulnerable" to tariffs – could see an EPS impact of up to about 90%, according to his model.
Persons: Donald Trump's, Tim Cook's Apple, Morgan Stanley, Erik Woodring, Trump, Tesla, , Morgan, it's, Angelo Zino, Zino, Wamsi Mohan, Apple, Bernstein, Toni Sacconaghi, Sacconaghi, It's, BofA's Mohan, Mohan, Jason Snipe Organizations: Apple, Wall, CNBC, of, Bank of America, Dell, Odyssey Capital, Apple Intelligence Locations: China, U.S, India, Vietnam, Malaysia
Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. Super Micro Computer could be headed down a path to getting kicked off the Nasdaq as soon as Monday. Super Micro's stock is now equal to where it was trading in May 2022, after falling another 11% on Thursday. Super Micro could also get an extension from the Nasdaq, giving it months to come into compliance. "Given that Super Micro's accounting concerns have become more acute since Super Micro's quarter ended, its weakness could ultimately benefit Dell more in the coming quarter," Bernstein analyst Toni Sacconaghi wrote in a note this week.
Persons: Charles Liang, Ernst & Young, Bernstein, Toni Sacconaghi Organizations: Super, Computer Inc, Nasdaq, SEC, Securities and Exchange Commission, Super Micro, Nvidia, Hindenburg Research, Ernst, CNBC, Dell Locations: Taipei, Taiwan
Quincy Jones’ cause of death revealed
  + stars: | 2024-11-13 | by ( Dan Heching | Cheri Mossburg | ) edition.cnn.com   time to read: +4 min
Bob Parent/Hulton Archive/Getty Images Jones performs with his band in Vienna, Austria, in 1960. brandstaetter images/Hulton Archive/Getty Images Jones works with Frank Sinatra on a soundstage in 1964. Benainous/Reglain/Gamma-Rapho via Getty Images Jones poses with the six Grammys he won in 1991. Patrick Kovarik/AFP/Getty Images Jones and Oprah Winfrey appear on the red carpet together at the Academy Awards in 1995. Lois Bernstein/AP Jones poses for a photo with his daughters Kidada Jones and Rashida Jones in 2005. Charley Gallay/Getty Images Jones poses for a portrait during the Toronto Film Festival in 2018.
Persons: Quincy Jones, Jones, Ray Charles, Frank Sinatra, Michael Jackson, Bobby Holland, Michael Ochs, Bob Parent, John Dominis, Duke Ellington, David Redfern, Peggy Lipton, Shutterstock Jones, Doug Pizac, Lou Rawls, Ron Galella, Stevie Wonder, Sunny Bak, Will Smith, Miles Davis, Courtney Sale Ross, Richard Corkery, Eddie Murphy, Rick Maiman, Patrick Kovarik, Oprah Winfrey, Lois Bernstein, Kidada Jones, Rashida Jones, Donato Sardella, Kevin Mazur, Barack Obama, JIM WATSON, Michael Caine, Denise Truscello, Naomi Campbell, Charley Gallay, Chris Pizzello, , Lisa Respers France, Alli Rosenbloom Organizations: CNN, Associated Press, Michael Ochs Archives, Getty, CBS, HBO, United Negro College Fund, Lille, Montreux Jazz, Academy, Jones, White House, Toronto Film, Theatre, Abaca Press, AP, Recreation Locations: Bel Air , California, Los Angeles, Vienna, Austria, Redferns, Beverly Hills, Cannes, France, Switzerland, AFP, Haiti, Hollywood, Las Vegas
"But SQ has also come under regulators' scrutiny (FinCen, CFPB) recently around its Cash App and Afterpay businesses. The president-elect has taken a pro-crypto stance during his time on the campaign trail , pledging to ensure that the federal government does not sell off its bitcoin holdings. A more favorable regulatory environment could also spell gains for Visa , which has rallied around 19% this year, according to Bernstein. "While it is unlikely that the DOJ pulls the case, it's possible that President-elect Trump names a more pro-business Head, who might be more amenable to a weaker settlement with Visa." That stock has seen the biggest year-to-date gains of the three, rising around 24%.
Persons: Donald Trump's, Bernstein, Harshita Rawat, Rawat, Trump, Gary Gensler Organizations: U.S . Securities, Exchange, Visa, Department of Justice, DOJ, Trump, Mastercard, Discover Financial
New York CNN —Two years ago, Pete Hegseth relocated his family from New Jersey, near Fox News headquarters, to a small town outside of Nashville, Tennessee. On Tuesday evening, President-elect Donald Trump said Hegseth is his pick for Defense Secretary – a decision that shocked even some of his friends at Fox. Hegseth and Rauchet disclosed their relationship to Fox management when Rauchet was pregnant (and Hegseth was still married). After returning home from Iraq in 2006, Hegseth wrote that more troops were urgently needed. Hegseth wrote “Modern Warriors” in 2020 and “War on Warriors” earlier this year, both for Fox’s book imprint.
Persons: Pete Hegseth, Friends ”, Biden, Donald Trump, Hegseth, , Pete, , Trump, ” Hegseth, , Roger Ailes, Ailes, buzzed, Hegseth’s, Samantha, Jennifer Rauchet, Rauchet, Kaitlan Collins, George W, Bear Stearns, Amy Klobuchar, Glenn Beck’s, Tucker Carlson, Jack Carr, Bernstein, he’d, Fox, Carr Organizations: New, New York CNN, Fox News, “ Fox, Friends, Fox, Army, Department of Defense, Inside Fox, Trump National Golf, Nashville Christian, CNN, Princeton University, New Jersey Army National Guard, National Guard, Harvard University, White, Trump, Department of Veterans Affairs, Twitter, Fox Nation, Veterans, Warriors, FOX News Media, Princeton Locations: New York, New Jersey, Nashville , Tennessee, Washington, DC, Iraq, Afghanistan, Guantanamo Bay, Cuba, United States, Bear, Guantanamo, Minnesota, Nashville, Tennessee
Some bitcoin miners are giving investors an opportunity to get in on the cryptocurrency's big postelection rally. Pure play bitcoin miners have been lagging this year for a host of reasons. CLSK RIOT,MARA 5D mountain Bitcoin mining laggards have been outperforming in the the recent crypto rally Now, with bitcoin consistently reaching new records since Election Day — a trend that's expected to continue through next year — the mining laggards could be catching up, analysts say. Bitcoin mining stocks are among the best investment vehicles for investors to express their bullish outlook on bitcoin, he added, and have outperformed bitcoin itself in bull markets prior to 2024 by about 2.5x. We know, investors like miners for energy [and] AI optionality, but it's time to buy bitcoin miners for the Bitcoin trade."
Persons: MARA, Mike Colonnese, Wainwright, TeraWulf, Bernstein, Gautam Chhugani, Riot, CleanSpark, Iren, Trump, Biden, — CNBC's Michael Bloom Organizations: bitcoin, BTC, H.C, CNBC, Mara Holdings, Energy Locations: Marathon, U.S
Chinese markets are back in the spotlight after a slew of government stimulus measures over recent weeks. "I think the right way of looking at what China's up to, really, is to see it as a process," he told CNBC's "Street Signs Asia" on Monday. His comments come as China's Ministry of Finance signaled Friday that more fiscal support could come next year . Stocks to watch As investors ponder how to navigate the Chinese market, Bernstein said there are attractive opportunities in "growth and high volume stocks [aligned] with policy led rebound." Both Tencent and Meituan trade on the Hong Kong Exchange and in the U.S. as American Depository Receipts (ADR) under the ticker TCEHY and MPNGY .
Persons: Jordan, CNBC's, we've, Paul Cavey, Donald Trump, Carey, Stocks, Bernstein, — CNBC's Evelyn Cheng, Michael Bloom Organizations: Pella Funds, Ministry, Finance, Asia Econ, Healthcare, China Internet, Hong, Hong Kong Exchange Locations: Pella, Asia, Real Estate, downgrades, China, Hong Kong, Tencent, U.S
Piper Sandler names Nvidia a top pick The firm said Nvidia is a new top pick. Morgan Stanley reiterates Dell as overweight Morgan Stanley raised its price target on Dell to $154 per share from $136. Morgan Stanley reiterates Nvidia as overweight The firm raised its price target on Nvidia to $160 per share from $150. Wedbush reiterates Tesla as outperform The firm said Tesla remains well positioned. "We are raising our price target on Tesla to $400 from $300 as we believe the Trump White House win will be a gamechanger for the autonomous and AI story for Tesla and Musk over the coming years."
Persons: Wedbush, Piper Sandler, Bernstein, BURL, Morgan Stanley, Dell, DELL, Wolfe, underperform Wolfe, We've, WBD, Blackwell, Cabot, Tesla, Raymond James downgrades Bloomin, Raymond James Organizations: UBS, Vale, Nvidia, Blackwell, Citi, Apple, JPMorgan, Dell, Warner Bros, NBA, Deutsche Bank, Cisco, Orion, Trump White House, Bank of America Locations: China, Burlington, Brazil
Here's what needs to go right for Intel, the only US-based manufacturer of powerful chips. AdvertisementUS policymakers are still betting that Intel is the nation's best shot at manufacturing chips. Intel needs to balance the booksIntel plans to spin out its semiconductor manufacturing business into an independent subsidiary called Intel Foundry, separating the manufacturing process from its chip-design business. Not everyone is convinced that government intervention will help Intel get back on track in chip manufacturing. The report said they also discussed a potential merger between the company's chip design business and a competitor like AMD or Marvell.
Persons: , Dow, It's, they're, Alistair Barr, Stacy Rasgon, Patrick Moorhead, Moorhead, they've, Logan Purk, Edward Jones, Dan Morgan, Pat Gelsinger, Morgan, Rasgon, Daniel Newman, hasn't, Newman, Gina Raimondo, Donald, it's, Mark Warner, Semafor Organizations: Wall Street, Intel, Service, Dow Jones, Nvidia, Business, Qualcomm, AMD, Dow, Bernstein Research, TSMC, Intel Foundry, Synovus, Futurum Group, Act, Google, Microsoft, Apple, New York Times, Commerce Department, Sen, Marvell, Warner Locations: Taiwan, Washington
The first look at "Mission: Impossible - The Final Reckoning" shows Tom Cruise on the run, again. Here's what we know about the eighth "Mission: Impossible" movie. Here's what we know about the eighth "Mission: Impossible" movie. But "The Final Reckoning" trailer seems to be setting up an ending for his character. "Mission: Impossible - The Final Reckoning" arrives in theaters in May 2025Tom Cruise as Ethan Hunt holding onto a plane in "Mission: Impossible - The Final Reckoning."
Persons: Tom Cruise, , Ethan Hunt, Audiences, Tom Cruise's, Hunt, there's, Cruise, Gabriel, Esai Morales, Hayley Atwell, Grace, Simon Pegg, Benji Dunn, Pom Klementieff, Greg Tarzan Davis, Degas, Ving Rhames, Luther Stickell, Klementieff, Angela Bassett, Erika Sloane, Vanessa Kirby, Alanna Mitsopolis, Frederick Schmidt, Zola, Shea Whigham, Jasper Briggs, Rebecca Ferguson, Ilsa Faust, Ilsa, HmRU0Pk3x8, Matt, Ted Lasso, Hannah Waddingham, Katy O'Brian, Severance, Tramell Tillman, Nick Offerman, Holt McCallany, Bernstein, Rolf Saxon, William Donloe Organizations: Service, Paramount, Sydney Morning Herald, Paramount Pictures, Sydney, Joint Chiefs of Staff, of Defense, CIA Locations: Paris
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAirline stocks are rising post-election due to lower tax rates and deregulation: Bernstein's VernonDavid Vernon, Bernstein analyst, joins 'Squawk on the Street' to discuss why airlines are beneficiaries of Trump's election, which airlines Vernon favors, and much more.
Persons: Bernstein's Vernon David Vernon, Bernstein, Vernon
Was music really better when you were younger?
  + stars: | 2024-11-09 | by ( Jemal Polson | ) edition.cnn.com   time to read: +5 min
As I see other generations of music lovers say music was so much better when they were younger, I wondered why. “It’s not that music was better when (we) were younger; it’s that music elicits very, very strong emotions,” said Dr. Rita Aiello, a music psychologist at New York University who examines how people process music and how music and memories shape each other. “Music is episodic,” said Dr. Robert Cutietta, a professor of music at the University of Southern California. A 2022 replication of the latter study in Marketing Letters: A Journal of Research in Marketing found that a person’s music preference peaks as young as 17. It may be because you’re remembering the artists, songs and albums that were meaningful to you and forgetting the ones that weren’t.
Persons: Snoop, , Gwen Stefani’s “, I’m, I’ve, Lil Nas, Sabrina Carpenter, Meghan Trainor, Kesha, “ It’s, Rita Aiello, Aiello, Barbra Streisand’s, Michael Webb, Robert Cutietta, , ” Cutietta, Leonard Bernstein, ” Aiello, Cutietta, “ They’re Organizations: CNN, The Telegraph, Independent, Variety, New York University, , London Palladium, Hulton, University of Southern, Consumer Research, Research, Marketing, Beatles Locations: University of Southern California, There’s
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