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Four big reasons to own gold into 2025
  + stars: | 2024-11-22 | by ( Sean Conlon | ) www.cnbc.com   time to read: +2 min
On Friday, spot gold rose about 1% amid increasing tensions between Russia and Ukraine . Secondly, the global interest rate-cutting cycle will also stretch into 2025, which will serve as another driver of higher gold prices. Moreover, a push among central banks to diversify their reserves away from the dollar could also provide some additional support for gold, he said. "We expect the de-dollarization trend among central banks and private asset managers to continue," Khandelwal said. "We estimate central banks bought around 900 metric tons of gold in 2024, and these volumes can be sustained well above the prior decade's average of around 325 metric tons a year."
Persons: Gold, Donald Trump's, Sagar Khandelwal, Khandelwal Organizations: UBS, UBS Global Wealth Management Locations: Russia, Ukraine
Goldman says 2025 will be the 'year of generating income'
  + stars: | 2024-11-22 | by ( Michelle Fox | ) www.cnbc.com   time to read: +5 min
Goldman Sachs Asset Management is predicting 2025 will be the "year of generating income." One focuses on the S & P 500 — Goldman Sachs S & P 500 Core Premium Income ETF (GPIX) and another on the Nasdaq-100 index — Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ ). High-yield muni bonds Shah also sees opportunity for income within high-yield municipal bonds . "Municipal high yield is a good way of generating income that can compete with your appreciation," Shah said. GHYAX YTD mountain Goldman Sachs High Yield Municipal Fund Dividend stocks and bonds Investors can also turn to more traditional forms of income in dividend stocks and fixed income, Shah said.
Persons: Goldman, Ashish Shah, Shah, — Goldman Sachs, Goldman Sachs Organizations: Management, CNBC, Federal Reserve, Crane Data, nab, Investors, Goldman, Nasdaq, Goldman Sachs Nasdaq Locations: securitized
FanDuel parent Flutter Entertainment is poised for even more gains ahead as its U.S. growth takes off, according to Goldman Sachs. Analyst Ben Andrews initiated coverage of the online sports betting operator with a buy rating and $320 price target. Andrews sees upside to Flutter's 2027 revenue guidance for existing states and sees double-digit percentage upside to Wall Street's consensus targets on Flutter's U.S. EBITDA in 2027 and 2028. S & P) and Flutter building a track record of consistent delivery and as a compounding cash generator." The company continues to acquire new customers in existing states, which "Flutter is doing more efficiently than competition, supported by their scale," Andrews said.
Persons: Goldman Sachs, Ben Andrews, Andrews Organizations: New York Stock Exchange, London Stock Exchange, U.S
In the emerging AI software battle between Microsoft and Salesforce , investors do not need to pick a side. The announcements came roughly one year after the tech giant launched a suite of AI assistant tools called Microsoft 365 Copilot. Both companies leaning into AI agents is notable because Salesforce CEO Marc Benioff has not been hesitant to attack Microsoft's competing AI offerings. Salesforce stock is up 28% year to date versus Microsoft's roughly 9% gain since the start of 2024. I don't want to go against Microsoft," Jim said.
Persons: Jim Cramer, , Marc Benioff, Benioff, who's, Satya Nadella, Nadella, They're, We've, Salesforce, Slack, Agentforce, Jim, it's, Jim Cramer's, Salesforce's Dreamforce, Justin Sullivan Organizations: Microsoft, Deutsche Bank, Club, CNBC, Getty Locations: Agentforce, Salesforce's, Mulesoft, San Francisco , California
The interest rate outlook will come back into focus next week with key inflation data and Federal Reserve meeting minutes coming out ahead of Thanksgiving, as investors wrap up a major month for markets following President-elect Donald Trump's election victory. The October personal consumption expenditure (PCE) price index set to release Wednesday could dent already-dimming hopes for a December rate cut if it comes in hotter than expected. The inflation rate is expected to have increased 0.2% month over month and 2.3% year on year. Rosy expectations Even with the interest rate cut expectations coming in, investors are optimistic on the direction for stocks to close out the year and into 2025. Goldman Sachs' David Kostin this week said he expects the S & P 500 can end next year at 6,500.
Persons: Donald Trump's, , Luke O'Neill, Stocks, O'Neill, Goldman Sachs, David Kostin, Morgan Stanley's Mike Wilson, Brian Belski, Tom Hainlin, Jeff Cox Organizations: Federal Reserve, Alpha Fund, Nasdaq, Dow Jones, BMO, UBS, Bank Asset Management, Dell Technologies, Chicago, New, Richmond Fed, Devices, Autodesk, PCE Deflator, Chicago PMI Locations: U.S, Chicago
The S & P 500 has now seen seven consecutive weeks of inflows, keeping the post-election momentum intact. I want to use the S & P 500 SPDR Trust ETF (SPY) to hedge these gains and bet against the consensus of markets finishing the year on a high note. SPY YTD mountain SPDR S & P 500 ETF Trust, YTD Investors have rejoiced with expectations for a more business-friendly economy ahead following President Elect Donald Trump's victory in early November. My short-term view of a shallow repricing in the S & P 500 might come to fruition now that we have Nvidia's earnings in the rearview mirror. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.
Persons: Donald Trump's, Long Organizations: Bank of America, SPDR, Trust, YTD Investors, Treasury, CNBC, NBC UNIVERSAL
Goldman Sachs sees big gains ahead for Merus on the back of the company's cancer treatment. The firm initiated coverage of the cancer therapeutics stock with a buy rating on Wednesday, alongside a $73 per share price target. Law said the antibody has already shown promising results and can be a key growth driver for the stock moving forward. MRUS YTD mountain Merus stock. Merus stock has advanced more than 56% already in 2024.
Persons: Goldman Sachs, Richard Law, Law, peto Organizations: Merus
As bitcoin prepares to vault to $100,000, I can't help but wonder if cryptocurrency – not artificial intelligence – is the mother of all financial market manias. BTC.CM= YTD mountain Bitcoin in 2024 The first bitcoin, minted in 2009 , changed hands at about one-tenth of one cent. With bitcoin at nearly $100,000 on Thursday, the first buyers of the cryptocurrency would, no doubt, be worth scores of billions of dollars. The three defining features of money are: A medium of exchange A unit of account A store of value Bitcoin – or any cryptocurrency – is not widely used for transactions. The real question in my mind remains, does the world need bitcoin, or does it just want the flagship crypto?
Persons: bitcoin, cryptocurrency, SWIFT, there's, Donald Trump, Charles Mackay, Ron Insana Organizations: Louis Federal Reserve, U.S, U.S ., CNBC Locations: U.S, Dutch
GE Vernova can help meet the massive energy demands from artificial intelligence, according to Wells Fargo. The firm initiated coverage of the energy company with an overweight rating. Analyst Michael Blum said robust power demand tied to AI could lead to GE Vernova emerging as a key beneficiary, especially because the subsequent buildout will require an update to the power grid. GEV YTD mountain GE Vernova stock. The analyst also noted GE Vernova trades at a discount relative to the S & P 500.
Persons: Michael Blum, Blum Organizations: GE, General, GE Vernova Locations: Wells Fargo
Two catalysts may send shares of Netflix even higher in the months ahead, according to Bank of America. Analyst Jessica Reif Ehrlich reiterated her buy rating on Netflix and hiked her price target by $200 to $1,000, implying more than 13% upside from Wednesday's close. "Live and advertising are complementary growth drivers, as more live programming drives additional high value, premium ad inventory," Reif Ehrlich added. "Netflix's ability to monetize this premium live inventory will be key to making advertising a multi-year growth driver." Still, Netflix has an average price target of $787, implying about 11% downside from Wednesday's close.
Persons: Jessica Reif Ehrlich, Reif Ehrlich, Mike Tyson, Jake Paul –, Beyoncé –, ann Organizations: Netflix, Bank of America, Broadcasting
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
Investors looking for alternative ways to profit off of Nvidia 's impending Blackwell chip rollout may want to take a look at these derivative plays. Shares of Nvidia fell 3% despite topping quarterly earnings expectations and Wall Street's forecast. The stock has whipsawed amid concerns of slowdown following several quarters of monstrous revenue growth and lofty guidance beats. Semiconductor product manufacturers MACOM Technology Solutions and Semtech are other potential beneficiaries from a strong Blackwell rollout, according to Stifel's Tore Svanberg. This includes companies such as Marvell Technology , Credo Technology and Astera Labs .
Persons: Brad Lin, Lin, Asiya Merchant, Stifel's Tore Svanberg Organizations: Nvidia, Blackwell, Bank of, Taiwan Semiconductor Manufacturing, Dell, Hewlett Packard Enterprise, Semiconductor, MACOM Technology Solutions, Marvell Technology, Technology, Astera Labs Locations: Taiwan
This booming period marked by strong economic growth and robust market returns could extend into 2025, according to UBS, which is calling for the S & P 500 to rise as high as 7,000 in its most optimistic, bullish case. "The market and economic developments have led some to term the decade so far as the 'Roaring 20s,' marked by high economic growth, strong market returns, and improving productivity," Mark Haefele, UBS Global Wealth Management chief investment officer, said in a note to clients. .SPX YTD mountain S & P 500 The Wall Street bank set its base case of a 6,600 S & P 500 target for 2025, or about 10% upside from current prices. For its bull case, the equity benchmark could climb to 7,000 by year end 2025, a 16% gain from current levels. The S & P 500 appears set to wrap up a strong 2024 with a bang, thanks to optimism toward President-elect Donald Trump 's market-friendly policies.
Persons: Mark Haefele, Donald Trump, Haefele Organizations: UBS, UBS Global Wealth Management
Wall Street's optimistic tone since Donald Trump secured a return to the White House could have outsized benefits for a handful of stocks that typically gain when sentiment is bullish, according to Piper Sandler. "By many metrics, bullish sentiment is at an extreme," Michael Kantrowitz, Piper Sandler's chief investment strategist and head of portfolio strategy, wrote in a Tuesday note. Against this backdrop, Piper Sandler screened for stocks that are most sensitive to bullish sentiment. Garmin is another stock that historically performs well when market sentiment is high, registering gains 62% of the time. GRMN YTD mountain Garmin stock has gained nearly 60% in 2024.
Persons: Donald Trump, Piper Sandler, Stocks, Michael Kantrowitz, Piper, Uber, Trump, FactSet Organizations: Investors, Uber Technologies, Garmin, Materials, Micron Technology
The sharp move higher puts the cloud-based data stock on pace for its best day ever. SNOW YTD mountain Snowflake stock headed for its best day ever on Thursday. Goldman analyst Kash Rangan reiterated a buy rating on Snowflake following its third-quarter results, and maintained his price target of $220 per share. JPMorgan, others bullish too JPMorgan Chase analyst Mark Murphy maintained an overweight rating on Snowflake stock, but increased his price target to $185 per share. The analyst reiterated his neutral rating on Snowflake stock but increased his price target to $185 per share from $160, equating to more than 43% upside moving forward.
Persons: Sridhar Ramaswamy, Goldman, Kash Rangan, Rangan, Mark Murphy, Murphy, Brad Sills, he's, Sills, Wells Fargo's Michael Turrin, Turrin Organizations: JPMorgan, Bank of America Locations: Snowflake
Goldman Sachs' list of top-performing longs in hedge funds has seen outsized gains in 2024, a sign that moves made by these firms have paid off this year. The bank's so-called very important positions, or "VIP," list has climbed about 30% year to date. Goldman strategist Ben Snider noted that hedge funds shifted somewhat to cyclical industrials from defensives in the third quarter, allowing them to benefit from the postelection rally. Goldman has a running list of its very important stock picks within hedge fund long holdings. However, most analysts surveyed by LSEG rate the stock a buy or strong buy, consensus price targets suggests shares may drop more than 23%.
Persons: Goldman Sachs, Goldman, Ben Snider, Snider, Mike Tyson, Jake Paul, AppLovin, Piper Sandler, James Callahan, Eli Lilly, Donald Trump, Robert F, Kennedy, Jr Organizations: China ADR, Netflix, Department of Health, Human Services, LSEG Locations: defensives, China
Stocks are primed for another big stock market gain in 2025 given U.S. economic strength and likely deregulation under President-elect Donald Trump, according to Wells Fargo. The Wall Street bank expects the S & P 500 will advance to 6,600 by the end of 2025. .SPX YTD mountain S & P 500 Wells Fargo is the latest big firm to release its 2025 S & P 500 year-end target, with virtually all shops thus far anticipating a roughly 10% gain or more for the broad market index. Goldman Sachs' David Kostin this week said he expects the S & P 500 to end next year at 6,500. The S & P 500 surged 24% in 2023, and is up more than 23% this year.
Persons: Donald Trump, Darrell Cronk, Goldman Sachs, David Kostin, Morgan Stanley's Mike Wilson, Brian Belski, Cronk Organizations: Wells, Investment Institute, BMO, UBS, CNBC, & $ Locations: Wells Fargo, Tuesday's
Canadian uranium miner Cameco Corporation is well positioned for growth on rising demand for nuclear power in the U.S. and less exposure to global geopolitical risk, according to Goldman Sachs. CCJ YTD mountain Cameco, YTD Cameco is integrated across uranium mining, conversion and fabrication as well nuclear services through its stake in Westinghouse, Mehta wrote. Cameco is also an attractive partner for Western utilities because the company has relatively low geopolitical risk. This puts the uranium price midpoint at around $100 which is well above current spot levels of about $80 per pound, according to Goldman. Cameco is still working through the financial impact of its Westinghouse acquisition, but the miner sees a 6% to 10% growth rate over the next five years for the nuclear services company.
Persons: Goldman Sachs, Goldman, Neil Mehta, Mehta, Cameco, Grant Isaac, Isaac Organizations: Cameco Corporation, Westinghouse Locations: U.S, Canada, Kazakhstan
Don't sweat the drop in Palo Alto Networks stock, which came despite a solid beat and raise after Wednesday's closing bell. Bottom line Palo Alto Networks is off to a strong start to its fiscal year 2025. Palo Alto Networks passed through the fiscal first-quarter earnings beat into its full-year fiscal 2025 outlook. NGS ARR includes revenue for Palo Alto Network's Prisma, Cortex, QRadar, and certain cloud-delivered security services. Nikesh Arora, Chairman and CEO of Palo Alto Networks, speaking at the TEC Summit on October 29, 2019 in New York City.
Persons: Platformization, We're, Palo, Nikesh Arora, Arora, Jim Cramer, SASE, billings, Jim Cramer's, Jim, Astrid Stawiarz Organizations: Palo Alto Networks, Palo, LSEG, Palo Alto, Alto Networks, Cisco Systems, cybersecurity, Street, Management, CNBC, TEC Summit Locations: Palo, platformization, Palo Alto, New York City
Netflix's record-breaking boxing match between legend Mike Tyson and influencer Jake Paul cements the company's status as the winner in streaming, according to Pivotal Research Group. The firm raised its price target on Netflix to a Wall Street-high $1,100. Pivotal said the change accounts for higher medium- and long-term subscriber and revenue estimates following the bout. The event shown on Netflix notched 65 million live concurrent streams and 108 million total live viewers worldwide, making it the most-streamed global sporting event on record. NFLX YTD mountain Netflix shares in 2024 "Our view remains unchanged that Netflix has won the global streaming race as evidenced by YTD results/raised guidance (especially relative to its streaming peers' results), and this is what, in our opinion, winning looks like," the analyst said.
Persons: Mike Tyson, Jake Paul, Tyson, Paul, Jeffrey Wlodarczak, Wlodarczak Organizations: Research, Netflix
Mobile app development company AppLovin may have soared more than 700% this year. Piper Sandler thinks the stock is an artificial intelligence winner with more room to run. The firm initiated coverage with an overweight rating and $400 price target on shares, implying shares could climb an additional 24.5% from Tuesday's close. APP YTD mountain AppLovin in 2024 "The stock is up over [700%] YTD, more recently driven more by multiple expansion than estimate revisions. "APP's impressive revenue growth has occurred despite a challenged overall market.
Persons: Piper Sandler, AppLovin, James Callahan, Callahan Organizations: APP, NASDAQ Locations: Tuesday'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
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
Oppenheimer's top stock picks heading into year-end
  + stars: | 2024-11-20 | by ( Sean Conlon | ) www.cnbc.com   time to read: +3 min
Meanwhile, the Dow Jones Industrial Average and the S & P 500 are each up more than 3% month to date. As November nears its close, Oppenheimer has updated its top stock ideas list. Its $145 price target reflects almost 22% upside from Tuesday's close. Oppenheimer believes medical technology company Transmedics is also due for a rally, as its $125 target reflects nearly 51% upside from Tuesday's close. TMDX YTD mountain TMDX, year-to-date For newly added Citigroup, Oppenheimer's $107 target implies more than 56% upside from Tuesday's close.
Persons: Stocks, Donald Trump's, Oppenheimer, Rob Lynch, Brian Bittner, Suraj Kalia Organizations: Oppenheimer, Nasdaq, Dow Jones Industrial, Citigroup, Oppenheimer's Locations: Instacart
We're raising our TJX price target to $135 per share from $130. The combined T.J. Maxx and Marshalls business unit was impacted by temporary closures resulting from hurricanes Helene and Milton. Guidance TJX sees fiscal 2025 fourth quarter EPS in the range of $1.12 to $1.14, which is below the $1.17 expected. Outside of North America, T.J. Maxx is known as T.K. North Miami Beach, Florida, T.J. Maxx & HomeGoods discount department store, furniture display and welcome sign.
Persons: HomeGoods, Ernie Herrman, Helene, Milton, TJX, Herrman, John Klinger, , Klinger, Maxx, Jim Cramer's, Jim Cramer, Jim, Jeff Greenberg Organizations: TJX Companies, TJX, Marshalls, Ross Stores, Burlington Stores, CNBC, North, Maxx, Getty Locations: Maxx, HomeGoods, Canada, United States, Spain, North America, North Miami Beach , Florida
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