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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMIILLER: I think there is an overreaction... We don't think HHS changes will affect usMark Miller, CEO of Universal Health Services, believes a potential RFK Jr. appointment as HHS Secretary won't significantly affect their business. Despite a stock drop, he sees it as an overreaction and doesn't expect changes to the Affordable Care Act. He welcomes deregulation under the new administration, which could benefit the healthcare sector.
Persons: Mark Miller Organizations: Universal Health Services, RFK, Affordable
Shares of Amgen fell more than 7% Tuesday as analysts chewed over bone density loss data from an early-stage trial on its experimental weight loss injection, MariTide. Amgen did not immediately respond to a request for comment on the dataThe drug is a promising potential competitor in the weight loss drug market. "On one hand, patients could naturally lose bone mineral density during weight loss treatment," Brayer wrote. But Brayer said, "on the other hand, this could be a non-starter because there seems to be a dose-dependent increase" in bone mineral density loss. Amgen is also aware of the "hypothetical concern" of bone mineral density loss, Yee said, citing the firm's discussions with management.
Persons: Amgen, Eli Lilly, Cantor Fitzgerald, Olivia Brayer, Eli, Wegovy, Brayer, Jefferies, Michael Yee, Yee, Evan Seigerman, hasn't, Seigerman Organizations: Novo Nordisk, BMO
Shares of Vestas Wind Systems tanked on the news that Donald Trump had won the 2024 presidential election. However, analysts at a number of investment banks have suggested that investors overreacted to fears of a downturn for the sector. And he's not alone — the consensus price target of all analysts covering the stock points to an upside of more than 50%. Vestas shares are also traded in the U.S. with the ticker VWDRY . In addition to the political headwinds, Vestas Wind Systems has also had to contend with the rising cost of materials and labor over the past few quarters.
Persons: Donald Trump, Trump, Donald Trump's, Jacob Pedersen, Pedersen, Joe Biden's, Vestas, Henrik Andersen, John Kim, Gael, Bray, That's Organizations: Vestas, Nasdaq, Deutsche, Gael de, Systems, Deutsche Bank Locations: USA, Danish, U.S, Nasdaq Copenhagen, United States
The global tariff threat is fueling calls for frontloading from all around the globe," he said. But they added it is based on the belief is tariffs increase the costs of trade, in turn lowering demand and volumes. "Shipping is a global industry feeding on international trade, so another Trump presidency is a step in the wrong direction," said Sand. "The knee-jerk reaction from U.S. shippers will be to frontload imports before Trump is able to impose his new tariffs." Logistics companies serving the Mexico to U.S. cross-border trade tell CNBC new Trump tariffs can have a negative impact on historic cross-border truck trade.
Persons: Donald Trump, Trump, Paul Brashier, Brashier, Swift, Ben Slupecki, Morningstar, Lars Jensen, Jensen, Peter Sand, Slupecki, Jefferies, Omar Nokta, Robert Lighthizer, Piper Sandler, Matthew Rubel, USTR, Obama, Peter Boockvar, Stephen Lamar, Lamar, Matthew Shay, Elect Trump Organizations: ITS Logistics, Trump, frontloading, Trucking, Hunt Transport Services, Schneider National, Norfolk Southern, CSX, Republican, U.S ., Maersk, . Shipping, Vespucci, CNBC, Shipping, U.S . Trade, Committee, Trade, White, Bleakley Financial, American Apparel and Footwear Association, National Retail Federation, Congress, Biden, Logistics Locations: United States, U.S, Maersk, East Coast, Mexico
“We have to reduce spending to live within our means,” Musk said. That gives Musk’s frankness about reductions — and his track record of making large, painful cuts at his own companies — added weight. The Trump campaign didn’t immediately comment but has previously said that the GOP agenda wouldn’t cause short-term economic hardship. There’s some skepticism on Wall Street that a new Trump administration could implement spending cuts on the scale Musk has proposed. “They’re both indicating they intend to maintain substantial deficits and elevated government spending, certainly compared with the strength of the economy,” Elliott said.
Persons: Donald Trump’s, Elon Musk, ” Musk, Trump, Musk, , , didn’t, Kamala’s, Geoff Orazem, Bob Elliott, ” Elliott, Steve Sosnick Organizations: Republican, GOP, SpaceX, Trump, Social Security, Trump’s, CNBC, FedScout, Funds, Interactive Locations: U.S, Trump,
The decline in Stanley Black & Decker is an overreaction, says Jim Cramer'Mad Money' host Jim Cramer talks home builder stocks and where the sector stands.
Persons: Stanley Black, Decker, Jim Cramer
Tesla and SpaceX CEO Elon Musk speaks at a rally for former US President and Republican presidential candidate Donald Trump at Madison Square Garden in New York, October 27, 2024. Former President Donald Trump's top allies and surrogates, like Tesla CEO Elon Musk appear to accept that the Republican presidential nominee's policy plans could trigger a short-term economic thunderstorm. But they contend it will be worth the sunnier long-term outlook. "Correct: If I raise the tariff on just this particular idiosyncratic product, yes, right, it will be more expensive," Lutnick said in a Thursday interview on CNBC's "Squawk Box," responding to a question about whether universal tariffs would effectively become a short-term sales tax. Trump's running mate, Ohio Sen. JD Vance, has also nodded to the potential consumer pain of Trump's vision for across-the-board tariffs, though he hedged that it would be worth the possible benefits.
Persons: Tesla, Elon Musk, Donald Trump, Donald Trump's, Musk, Trump, Cantor Fitzgerald, Howard Lutnick, Vance, Lutnick, Trump's, Ohio Sen, JD Vance Organizations: SpaceX, Republican, Madison, Tesla, Trump, Press Locations: New York, U.S
Rep. Nancy Mace, R-S.C., chair of the House Oversight Subcommittee on Cybersecurity, Information Technology and Government Innovation, is seeking communications between the administration and social media companies, like Facebook-owner Meta. “The Biden-Harris Administration has advertised its willingness to manipulate the content of social media sites,” Mace wrote, pointing to the administration’s 2021 admission that it worked with social media companies to flag misinformation on their platforms, including related to Covid-19. “The White House has not apologized for this activity or indicated that it would cease and desist from engaging in such behavior," Mace continued. Conservatives have accused the White House of pressuring companies like Meta and Twitter to take down content that didn’t serve the administration politically. The White House didn't immediately respond to a request for comment.
Persons: WASHINGTON, Biden, Nancy Mace, Meta, Mace, “ The, Harris, ” Mace, , Amy Coney Barrett, Mark Zuckerberg, Brendan Carr, Carr, Gerry Connolly, Elon Musk, didn't Organizations: Republican, Technology, Government, Facebook, NBC News, White, “ The Biden, Harris Administration, Meta, Twitter, House Republicans, Federal Communications Commission's, Biden, Trump Locations: Virginia
Furniture and other manufactured goods, especially machinery like farm equipment, vehicles and auto parts, could also be disrupted, the lobbying group said. “There’s no reason for people to go out and do like we did during Covid and hoard,” Ellen said. There’s no reason for people to go out and do like we did during Covid and hoard. “There’s no reason to panic,” he said, adding that many companies and freight operators have spent months preparing for the strike. Agresta advised consumers to consider similar products and local options if shortages arise for perishable goods, including produce.
Persons: feedstocks, ” Ellen, Andy Ellen, Joseph Agresta, tammytheblackprepper, Agresta, , Ron Vachris, Organizations: North Carolina Retail, Rutgers Business School, Walmart, Costco Locations: Canada, Mexico, West Coast
China related stocks were on the move Tuesday after the People's Bank of China said it will cut interest rates. What the Jefferies downgrade misses is the market is giving Starbucks a pass as Niccol builds his team and makes changes. Truist downgraded Club holding Costco to a hold rating ahead of earnings, which are out after Thursday's close. The analysts still have a hold-equivalent rating on Club holding Home Depot but boosted their price target to $400 per share. China related stocks were on the move Tuesday after the People's Bank of China said it will cut interest rates.
Persons: Brian Niccol, Chipotle, Jefferies, Truist, Salesforce, Piper Sandler, Oppenheimer, Regeneron, Eli Lilly, Pinterest, , Jeff Marks, Jim Cramer's, Jim Cramer, Jim Organizations: People's Bank of, Starbucks, Jefferies, Costco, Walmart, Analysts, Barclays, Constellation Brands, Oppenheimer, Justice Department, Visa, Bloomberg, Jim Cramer's Charitable, CNBC Locations: China, People's Bank of China, Japan
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVernon: Both FedEx and UPS are well-positioned to leverage pricing power despite current pressuresDavid Vernon, Senior Research Analyst – Transportation at Bernstein, sees FedEx's lowered guidance as an overreaction and expects improvements later. He recommends buying the dip, noting both FedEx and UPS are well-positioned despite challenges.
Persons: David Vernon Organizations: Vernon, FedEx, UPS, Senior, Transportation, Bernstein
Like the overall market, Microsoft has been running higher of late as odds increasingly favor a 50-basis-point Fed cut. With so much hope on Wall Street, if the Fed were to go with a smaller 25-basis-point move, the market could get hit and pressure Microsoft stock. The Club has a $500 per share price target on Microsoft stock. That's our fundamental case, which aligns with technical analysis of Microsoft's one-year stock chart pattern. A laptop computer with Microsoft Copilot+ installed is on display at the Best Buy store on June 18, 2024 in Miami, Florida.
Persons: Amy Hood, we've, Jim Cramer's, Jim Cramer, Jim, Joe Raedle Organizations: Microsoft, Fed, CNBC, Getty Locations: Miami , Florida
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Debating P & G: We remain torn over traditional slowdown stocks like Procter & Gamble and other defensive consumer stocks. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, we're, Morgan Stanley, Wells, Wells Fargo, It's, we've, Hock Tan, Rene Haas, Jim Cramer's, Jim, Charlie Scharf, Patrick T, Fallon Organizations: CNBC, Apple, Apple Intelligence, Micron, Currency, Procter, Gamble, Colgate, Palmolive, Broadcom, Arm, Jim Cramer's Charitable, Milken Institute Global Conference, Afp, Getty Locations: stock's, Wells Fargo, Beverly Hills , California
CNBC's Jim Cramer said Monday that investors shouldn't panic over the size of the Federal Reserve's expected interest rate cut this week. Instead, they should focus on the stocks that will benefit from the easing monetary policy. He stressed, "What matters is we're in a rate cut cycle. In a rate cut cycle, you buy a lot of stocks that … should really start accelerating because they've been hurt." When central bankers announce their next policy move, Cramer said that there will likely be some market volatility regardless of the size of the reduction.
Persons: CNBC's Jim Cramer, Cramer, Stanley Blacker, Decker, Stanley Black Organizations: Stanley, Trust, CNBC Locations: U.S, Cramer's
Those two events are the kind of thing that, in normal times, are tracked mostly by economists and Wall Street types. For former President Donald Trump and the Republicans, the narrative is simple: Anything bad you’re feeling about inflation or the job market? Harris entered the race trailing Trump on a range of issues, including the economy. If that were the whole story, Trump might have a harder time disparaging Harris’ and President Joe Biden’s economic record. If the data doesn’t behave, however, then jobs — not inflation — may become the key economic narrative that Harris and Trump will start talking about in their stump speeches.
Persons: CNN Business ’, New York CNN —, we’re, pollsters, Donald Trump, Kamala Harris, Harris, Price, Trump, Harris ’, Joe Biden’s, it’s, , Aaron Sojourner, Heidi Shierholz, Biden, Organizations: CNN Business, New York CNN, Federal Reserve, Republicans, Biden, Democratic, Trump, July’s, Fed, WE Upjohn, Employment Research, Economic Policy Institute, , of Labor Statistics Locations: New York, Washington
Read previewVice President Kamala Harris' proposal to combat grocery inflation hasn't elicited a range of opinions from economists, and many have turned to history to dispute her idea. Last week, the Democratic presidential nominee unveiled early details of her economic platform, which included a pledge to ban grocery price gouging. In a study from May, price gouging was the second leading perceived cause of inflation among surveyed consumers. AdvertisementWhether gouging deserves the blame for inflation, some have also criticized Harris' plan as an ineffective government overreach. Pundits have alluded to the price controls under President Richard Nixon.
Persons: , Kamala Harris, Kenneth Rogoff, Harris, Ed Yardeni, Price, Richard Nixon, Stephen Moore, Lindsay Owens, Donald Trump Organizations: Service, Democratic, Business, CNN, Republican, Cato Institute, Heritage Foundation, CNBC, Federal Trade Commission, New York Times Locations: Cal, Maine
During the sell-off, strategists at Goldman Sachs recommended buying the dip in US stocks, albeit carefully, as they reiterated their year-end S&P 500 price target of 5,600. Economically sensitive stocks have lagged defensives by at least 5 percentage points in a single week 12 times since 2000, according to Goldman Sachs. "Despite the weak jobs report, our economists believe continued economic expansion is far more likely than recession," Kostin wrote. Goldman Sachs found that those micro factors explained 86% of stock returns in the first half of 2024, versus the long-term average of 57%. Fewer worries about the near-term economic outlook mean stocks will no longer trade in lockstep — a win for active investors.
Persons: , Goldman Sachs, David Kostin, Kostin, abate, lockstep — Organizations: Service, Goldman, Business, Institute of Supply, Walmart Locations: Japan, lockstep, Monday's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA September Fed cut of 50bps would be an overreaction, says Turtle Creek’s David SpikaCNBC’s Mike Santoli and Turtle Creek’s David Spika, joins 'Power Lunch' to discuss markets, the Fed and earnings.
Persons: David Spika, Mike Santoli
Media and chemicals stocks both slipped 0.6%, while travel stocks gained 1.28%. On Wall Street, stocks gained after U.S. weekly initial jobless claims figures came in lower than expected, alleviating some concerns about the state of the labor market. Last Friday's U.S. jobs report had shown slowing employment growth, sparking recession fears and subsequent market volatility. There was an element of market overreaction to that initial jobs report, Janet Mui, head of market analysis at RBC Brewin Dolphin, told CNBC's "Squawk Box Europe" on Thursday morning. "The jobs data is actually not that bad, employment is still growing and particularly importantly, real wage growth is still positive.
Persons: Janet Mui, CNBC's, Mui Organizations: Anadolu, Getty, Media, Global, U.S, RBC Locations: Amsterdam , Netherlands, U.S
Now could be a good time to start buying stocks with high dividend yields, according to BMO Capital Markets. The highest-paying S & P 500 stocks have significantly underperformed the index over the last year and a half, even with the rebound they've enjoyed in recent months, said chief investment strategist Brian Belski. They are rated outperform by the firm's analysts and fall within the top 25% of S & P 500 stocks by dividend yield. Digital Realty Trust, which pays a 3.28% dividend yield, owns, develops and operates data centers — which are expected to see surging demand thanks to AI . Host Hotel & Resorts, which owns luxury and upper-upscale hotels, has a 4.92% dividend yield and is down 16% so far this year.
Persons: they've, Brian Belski, Belski, AbbVie Organizations: BMO Capital Markets, Federal, Fed, BMO, Pfizer, pharma, AbbVie, Cerevel Therapeutics, American Electric Power, Southern Company, Utilities, Digital Realty Trust, Host Hotels, Resorts Locations: Southern
The Fed would be making a mistake in delivering an emergency rate-cut, Mohamed El-Erian said. Traders see a higher chance the Fed could trim rates over the next week in response to weakening data. AdvertisementThe Federal Reserve would be making a mistake if it delivered an emergency rate cut. Amid Monday's sell-off Bloomberg reported that markets see a 60% chance the Fed could issue a cut ahead of its scheduled policy meeting. AdvertisementGiving in to the market's demands to ease monetary policy would constitute another mistake for the Fed, El-Erian said.
Persons: Mohamed El, Erian, , Ben Kirby Organizations: Bloomberg, Traders, Service, Fed, Thornburg Investment Management Locations: El
(This is CNBC Pro's live coverage of Monday's Wall Street chatter as global markets sell off. — Lisa Kailai Han 7:02 a.m.: How long sell-offs typically last Bad news: The current market sell-off may have further to go. — Lisa Kailai Han 6:09 a.m.: Oppenheimer's Stoltzfus: Best to not 'jump to conclusions' Investors need to have a cool head as global markets sell off, according to Oppenheimer's John Stoltzfus. — Fred Imbert 5:51 a.m.: Global markets in an 'aggressive risk-unwind', Vital Knowledge says Fears of a U.S. recession are pressuring global markets, leading investors around the world to sell some of this year's top winners, according to Adam Crisafulli of Vital Knowledge. "Markets are caught in an aggressive risk-unwind as equities plunge around the world, with tech getting hit particularly hard," he wrote in a note Monday.
Persons: Wharton's Siegel, Jeremy Siegel, CNBC's, Siegel, hasn't, it's, … They're, , Lisa Kailai Han, Tom Lee, Lee, Duncan Toms, Toms, Fred Imbert, Victoria Greene, Greene, It's, Nimrit Kang, — Lisa Kailai Han, Dan Ives, Gene Goldman, Gennadiy Goldberg, Ives, Goldman, Goldberg, Oppenheimer's John Stoltzfus, Evercore, Ed Hyman, Hyman, Adam Crisafulli, Crisafulli Organizations: CNBC, Stock, Nikkei, Dow Jones Industrial, Nasdaq, Wharton, Federal Reserve, Fundstrat Global, HSBC, G Squared, Wealth, NorthStar Asset Management, Street, Wedbush, TD Securities, Federal, NASDAQ, U.S, Fed, Global Locations: U.S, Europe, Japan, China
Investors are increasingly hopeful that will push Federal Reserve officials to come to their rescue with an emergency rate cut. But if something comes up in between those meetings that changes their views on the ideal level for rates, officials can gather for an unscheduled “emergency” meeting. By doing two large emergency cuts in succession, Fed officials didn’t have to weigh whether their actions would unnecessarily cause Americans to panic. Before those cuts, the last time the Fed was promoted to do an emergency rate cut was in the thick of the Great Recession shortly after Lehman Brothers collapsed in the fall of 2008. But he said he was “reluctantly” comfortable with an emergency cut since other central banks were doing it.
Persons: Austan Goolsbee, there’s, Lehman Brothers, ” Charles Plosser, , , That’s, Janet Yellen, ” Yellen, Plosser Organizations: New, New York CNN, Federal, Chicago Fed, New York Times, Philadelphia Fed, Bank of Canada, European Central Bank, Bank of England, San, Committee, Fed, Treasury Locations: New York
The Federal Reserve now has egg on its face after it kept interest rates near a quarter-century high earlier this week. By now, there’s ample evidence that the job market, a key driver of the US economy, has lost steam. Here are three reasons to be worried about July’s shockingly weak jobs report — and one silver lining. Consumer demand itself also hasn’t weakened just yet, despite the highest interest rates in more than two decades. Generally, the Fed makes its decision congruent with what’s going on with inflation or the job market.
Persons: , July’s, , , Claudia Sahm, Sahm, Elizabeth Crofoot, Alicia Wallace, Jerome Powell, ” Crofoot, ” Michael Gapen, Matt Egan, weren’t, ” Truist’s Keith Lerner, they’ll, hasn’t, ” Chris Rupkey, Alan Blinder, Paul Krugman Organizations: New, New York CNN, Federal Reserve, Fed, Bloomberg, Bank of America, Dow, Nasdaq, Wall, Investors, Labor, Citigroup, JPMorgan Locations: New York, decelerate, American
AdvertisementSt. Louis FedDespite the Sahm Rule's impressive history, it is sometimes criticized because it fails to account for rising labor participation, which can raise the unemployment rate. In addition to downcast labor market data, the ISM Manufacturing Index fell further into contraction territory this week, signaling that US manufacturing continues to slow. The market's direction also depends on how investors interpret interest rate cuts alongside future data. Fed funds rate futures markets are now pricing in a 50-basis-point cut in September, according to the CME FedWatch Tool. AdvertisementHartnett and his team analyzed Fed rate-cutting cycles and identified three different types of rate cuts — cuts into a soft landing, cuts into a hard landing, and panic cuts, which are due to a credit event or some sort of Wall Street crisis.
Persons: , Claudia Sahm —, Louis Fed, Piper Sandler, Tom Essaye, Jack McIntyre, Lara Castleton, Janus Henderson, Michael Kantrowitz, we've, Kantrowitz, Michael Hartnett, Hartnett Organizations: Service, Bureau of Labor Statistics, Business, Labor, Brandywine Global, ISM, Nasdaq, Fed, Janus, Janus Henderson Investors, Bank of America, Fund
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