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The S&P 500 and the Dow Jones Industrial Average rose to fresh records Monday as investors awaited the next batch of key corporate earnings. The broad market index climbed 0.77% to 5,859.85, while the 30-stock Dow advanced 201.36 points to 43,065.22. Both averages hit all-time highs and closed at records, with the Dow ending the session above the 43,000 mark for the first time. The early signs of a recovery in banking profits helped push the broader market to all-time highs at the end of last week. The S&P 500 closed above 5,800 for the first time on Friday, while the blue-chip Dow also reached an all-time high.
Persons: Goldman Sachs, Johnson, Morgan Stanley, Wells Fargo, Dow, Bernstein, , Baird, Ross Mayfield Organizations: Dow Jones, Dow, Nasdaq, UnitedHealth, Apple, Technology, Bank of America, Johnson, United Airlines, Walgreens Boots Alliance, Netflix, Procter, Gamble, JPMorgan Chase, Federal, Treasury, Columbus Day
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. 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. 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.
Persons: Jim Cramer, Morgan Stanley, Wells, Stocks, Lisa Su, Su didn't, Goldman Sachs, Johnson, Jim Cramer's, Jim Organizations: CNBC, Dow, Nasdaq, Monday, Tech, Energy, Wells, Nvidia, AMD, Citigroup, Bank of America, United Health, Walgreens, Abbott Laboratories, Jim Cramer's Charitable Locations: Friday's, China
HSBC has high hopes for the third quarter earnings season and is sure that some stocks will do better than others. In the three months ended June 30, nearly 79% of companies in the S & P 500 beat analysts' earnings expectations, while 60% of companies in the index posted an upside surprise to Wall Street revenue forecasts. Ahead of the third-quarter earnings season, HSBC recently listed its favorite stocks to buy, where it believes market expectations are low and there are opportunities. More than half the analysts covering Target give the stock a buy rating, and the average price target implies 16% upside. The average price target corresponds to upside of just 3% or so, based on the same FactSet survey.
Persons: Daniela Bretthauer's, Bretthauer, Stephen Bersey's, Bersey, Wesley Brooks, Brooks, Morgan Stanley Organizations: HSBC, BlackRock, JPMorgan, Wells, Financial, Citigroup, PNC Financial Services, Netflix, Procter, Gamble, Wall, Target, Oracle Cloud Infrastructure, Oracle, 3M, 3M's Locations: Wells Fargo, Minnesota, Target's, Friday's
CNN —Jamie Foxx hadn’t been on stage for 18 years, but he returned recently for a very special reason. On Sunday he posted photos on social media from his performances in Atlanta showing him on stage including performing on the piano. In a video posted to TikTok in July 2024, Foxx told a group of people that he had a “bad headache” on April 11, 2023. Foxx went on to explain in the footage that he was told his sister and his daughter took him to a doctor, who gave him a cortisone shot. Foxx is known to be guarded about his private life, and he sought privacy as he recovered his health.
Persons: Jamie Foxx hadn’t, , , Foxx, Corinne Foxx, ” Foxx, Ray ” Organizations: CNN, Atlanta Locations: Atlanta, Atlanta Georgia, piedmont, Chicago, Phoenix
Check out the companies making headlines in midday trading: SoFi Technologies — Shares of the online personal finance company jumped 9.8% after SoFi announced a $2 billion agreement with Fortress Investment Group to grow its loan platform business. Crypto stocks — Stocks tied to cryptocurrencies surged as bitcoin gained more than 5% to top $66,000. Ibotta — Shares advanced 5.5% after Goldman Sachs upgraded Ibotta, a mobile platform that offers cash-back rewards, to buy from neutral. Flutter Entertainment — The online gambling stock rose 4% after Wells Fargo upgraded shares to overweight from equal weight, urging investors to buy the recent dip. Caterpillar — The industrial stock fell 1.7% after Morgan Stanley downgraded shares to underweight from equal weight.
Persons: SoFi, Warren Buffett's Berkshire Hathaway, Stocks, cryptocurrencies, bitcoin, AppLovin, Goldman Sachs, Goldman, Wells, Morgan Stanley, Eli Lilly's, , Alex Harring, Brian Evans, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Michelle Fox Organizations: Fortress Investment Group, Sirius XM Holdings, Berkshire, Sirius, Mara Holdings, Boeing, Walmart, of America, Caterpillar, U.S . Food, Drug Administration Locations: U.S
Lisa Marie Presley wrote about how her dad Elvis Presley's death affected her in her posthumous memoir. AdvertisementLisa Marie Presley wrote in her posthumous memoir that she struggled after Elvis Presley died when she was 9 years old. AdvertisementLisa Marie Presley, Priscilla Presley, and Elvis Presley. But later in her life, Lisa Marie would look for solace in her father's memory in a different way. Chris Delmas/AFP via Getty ImagesAccording to Keough, Lisa Marie would regularly travel to her childhood home for comfort.
Persons: Lisa Marie Presley, Elvis Presley's, Lisa Marie, Elvis, , Elvis Presley, Riley Keough, Lisa Marie's, Priscilla Presley, Keough, Riley Keogh, Benjamin Keough, Finley, Harper, Chris Delmas, Benjamin, Oprah Organizations: Service, Magma Agency, Getty, Elvis Locations: Graceland, Nashville
If you see a White family, it says they’re looking for food,” West, going off script, said in September 2005 during NBC’s “Concert for Hurricane Relief” telethon following hurricane Katrina. Hurricane Katrina struck the Gulf Coast in August 2005, causing severe flooding damage to cities from New Orleans to Biloxi. Comedian and actor Mike Myers, who appeared with West on the telethon, did not know about the artist’s planned comments in advance. Myers said in a 2014 interview that he was “super proud” to stand next to West in that moment. “This moment should not even be about Kanye West and President Bush,” CNN Entertainment Correspondent Lisa Respers France said in Sunday’s episode.
Persons: Kanye, “ George Bush doesn’t, West, , Katrina, George W . Bush, ” Van Lathan, , George W, Jim Watson, Bush, ” Bush, Van Jones, ” Jones, Mike Myers, Myers, Lisa Respers Organizations: CNN, Kanye West, Hurricane Relief, National Oceanic, Atmospheric Administration, NOAA, Getty, Louisiana Superdome, Air Force, White, NBC, stoke, ” CNN Entertainment Locations: Gulf, New Orleans, Biloxi . New Orleans, AFP, West, Lisa Respers France
Insider Today: Hallways are disappearing
  + stars: | 2024-10-12 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com   time to read: +7 min
This post originally appeared in the Insider Today newsletter. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. 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. More of this week's top reads:AdvertisementThe Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York City.
Persons: , Chelsea Jia Feng, Imani Bashir, it's, Bashir isn't, They've, Rebecca Zisser, Issa Issa Rae, Issa Rae, There's, Rae, Issa Rae's, Cate Blanchett, Kevin Kline, Menendez, Ryan Murphy, Jose, Kitty Menendez, Lyle, Erik, Abbott, Dan DeFrancesco, Jordan Parker Erb, Lisa Ryan, Amanda Yen, Grace Lett Organizations: Business, Service, BI, DC, Getty, HBO, Apple, Netflix, ABC Locations: Mexico, Washington, Hulu, New York City, New York, Chicago
CNN —Most musicians dream of winning a Grammy, but there’s only one award Chappell Roan is aiming for. So what better way to cap off her mega year than by winning her first Grammy Award? Creative director Ramisha Sattar and recording artist Chappell Roan. Universal Music Group“Please, please, please put some type of energy, a spell, whatever, that we get nominated for the Grammy,” Roan said in the video. “She is just as much Chappell Roan as I am, honestly,” Roan told CNN.
Persons: Chappell Roan, , Taylor Swift, Roan, , “ I’ve, I’ve, Ramisha Sattar, ” Roan, “ It’s, Kamala Harris, Sattar, Gen Z Lisa Frank, ” Sattar, Chappell Organizations: CNN, Austin, MTV, Recording, Universal, ” Universal Locations: Roan, Instagram
The S & P 500 touched a record in early trading and was headed for its fifth-straight winning week. Excluding the energy sector, S & P 500 profit growth should be 8-10%," the bank wrote in a note to clients. "Many of these companies are benefiting from continued strong growth in AI investment spending and monetization," UBS added. "In aggregate, the Magnificent 7 will account for 21% of S & P 500 profits in 2024 and closer to 25% in 2025." The bank sees the S & P 500 climbing to 5,900 by year end and 6,200 by June 2025.
Persons: Banks, Wells Organizations: UBS, Investors, JPMorgan Chase, Federal Reserve Locations: Wells Fargo, BlackRock
Third-quarter adjusted earnings were $1.52 per share, topping the $1.28 per share expected from analysts polled by LSEG. JPMorgan Chase – Shares jumped 4.7% after JPMorgan, the biggest American bank, posted third-quarter results that beat estimates for profit and revenue. BlackRock – Shares climbed 2.8% after the asset manager beat analysts' third-quarter expectations on the top and bottom lines. Bank of New York Mellon – The bank stock dropped 1%, even after the company issued a stronger-than-expected quarterly report. Analysts surveyed by LSEG were expecting $1.42 in earnings per share on $4.54 billion of revenue.
Persons: Morgan Stanley, Wells Fargo, JPMorgan Chase, Walmex –, Fastenal, FactSet, Wells, Warren Buffett's Berkshire Hathaway, Buffett, Natalie Knight, Doug Ostermann, Stellantis, Carlos Tavares, who's, LSEG, Kinder Morgan, Ferrari, BNY, , Alex Harring, Lisa Kailai Han, Pia Singh, Hakyung Kim, Jesse Pound, Michelle Fox Organizations: San, LSEG, JPMorgan, JPMorgan Chase –, Walmart, Apple Pay, Bank of America, Securities and Exchange Commission, Finance, BlackRock, of, Bank of New York Mellon Locations: San Francisco, LSEG .
Wells Fargo — Shares of the San Francisco-based lender rose 3%, helped by better-than-expected earnings. However, the bank's revenue of $20.37 billion came in below the $20.42 billion expected, and Wells experienced an 11% decline in net interest income. Tesla , Uber — Tesla shares tumbled 6.4% after its event for the robotaxi, a self-driving cab concept, left investors feeling underwhelmed. Affirm , Flywire — Affirm shares popped 3.1% after Wells Fargo upgraded the buy-now-pay-later stock to overweight from equal weight. Elsewhere in the digital payments space, Wells Fargo downgraded Flywire to equal weight from overweight, sending shares down 2.7%.
Persons: Wells, JPMorgan Chase, Tesla, underwhelmed, Carlos Tavares, Flywire, Mobileye, Morgan Stanley, Kinder Morgan, Ferrari, Lisa Kailai Han, Jesse Pound, Michelle Fox, Yun Li, Sean Conlon Organizations: LSEG, JPMorgan, Revenue, Bank of America, BlackRock, Mizuho, Bank of Locations: San Francisco, Wells, Flywire, Atlassian, China
AMD launched the Instinct MI325X accelerator on Thursday, and shipping starts later this fall. The new chip offers better performance than Nvidia's H200 yet lags behind Blackwell, analysts say. While the GPU significantly improved over AMD's previous offerings, Bernstein Research analysts wrote that it faces "zero challenge" against Nvidia's upcoming Blackwell chip. Nvidia announced in March the Blackwell series, which is set to ship in the fourth quarter of this year. Related stories"Training performance seems 1 year behind Blackwell (on par with H200) while inferencing is only slightly better," Arya wrote.
Persons: Blackwell, , Lisa Su, it's, Vivek Arya, Arya, Bernstein, Su, EPYC, Intel's Organizations: AMD, Service, Nvidia, Industry, Bernstein Research, Nvidia's, Blackwell, Bank of America Securities, Intel Locations: Turin, Emerald Rapids
AMD launches AI chip to rival Nvidia's Blackwell
  + stars: | 2024-10-10 | by ( Kif Leswing | ) www.nbcnews.com   time to read: +5 min
AMD launched a new artificial-intelligence chip on Thursday that is taking direct aim at Nvidia’s data center graphics processors, known as GPUs. In the past few years, Nvidia has dominated the majority of the data center GPU market, but AMD is historically in second place. The new AI chip is the successor to the MI300X, which started shipping late last year. Most industry estimates say Nvidia has over 90% of the market for data center AI chips. The new CPUs are particularly good for feeding data into AI workloads, AMD said.
Persons: Lisa Su, Nvidia’s, , Su, That’s, ” Su Organizations: AMD, Nvidia, Meta, Microsoft, Blackwell, Intel, workloads
Chip market is moving 'very, very quickly', says AMD CEO Lisa Su
  + stars: | 2024-10-10 | 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 EmailChip market is moving 'very, very quickly', says AMD CEO Lisa SuLisa Su, AMD CEO, joins 'Closing Bell Overtime' and CNBC's Kristina Partsinevelos to talk its new AI chip, pricing, chip manufacturing and more.
Persons: Lisa Su Lisa Su, CNBC's Kristina Partsinevelos Organizations: AMD
Check out the companies making headlines in midday trading: First Solar — The solar stock slipped 8%, on pace for its worst day since July 15, after Jefferies cut its price target on the stock and said it expects First Solar's third-quarter report to disappoint. Tesla — The stock was little changed ahead of the electric vehicle maker's robotaxi event Thursday after the bell. Investors expect Tesla to announce a Cybercab robotaxi prototype alongside advancements in driver assistance features and artificial intelligence capabilities. CVS Health — The pharmacy chain's stock rose 1.8% following an upgrade at Barclays to overweight from equal weight. PayPal — The payments platform stock slipped 2.9% following a Bernstein downgrade to a market perform rating from outperform.
Persons: Jefferies, Stifel, Piper Sandler, Tesla, Bernstein, Harshita Rawat, Venmo, — CNBC's Lisa Han, Sean Conlon, Sarah Min, Hakyung Kim, Michelle Fox Organizations: Enphase Energy, Dominion Bank, Street Journal, GXO Logistics —, Bloomberg, Logistics, American, JPMorgan, CVS Health, Barclays, CVS, Genomics, PayPal Locations: Toronto, Canadian
The financial firm upgraded the athletic apparel stock to a buy rating from hold and raised its price target to $97 from $83. — Lisa Kailai Han 6:48 a.m.: Goldman Sachs trims Microsoft price target Goldman Sachs is still bullish shares of Microsoft , despite a minor price target adjustment. However, she accompanied the move by lifting her price target to $80 from $75. Analyst Andrew Mok accompanied the rating change by lifting his price target to $82 from $63. To be sure, he did raise his price target by $10 to $235, implying upside of nearly 10%.
Persons: Joseph Civello, Civello, Caitlin Clark, Lisa Kailai Han, Goldman Sachs, Kash Rangan, Rangan, Bernstein, Harshita Rawat, Venmo, Cash, Rawat, — Lisa Kailai Han, Shagun Singh, Singh, Medtronic, Andrew Mok, Mok, Stephen Tusa, Tusa, divestitures, YTD, Fred Imbert Organizations: CNBC, Barclays, JPMorgan, Honeywell International, Nike, Microsoft, PayPal, RBC, RBC Capital Markets, CVS, Aetna, Honeywell, Dow Jones Industrial Locations: buybacks, Wednesday's
CNN —Al Pacino is enjoying being a late-in-life dad. The legendary actor talked about being a father to a brood, including to 16-month-old Roman with producer Noor Alfallah, in a new interview with People. “It’s just so wonderful to have children,” the 84-year-old father of four said. “For me, I loved it,” Pacino said. “And that has been a campaign for me to stick around a little longer, if it’s possible.”“Sonny Boy” will be published on October 15.
Persons: CNN — Al Pacino, Noor Alfallah, “ It’s, ” Pacino, Julie, Jan Tarrant, Anton, Olivia, Beverly D’Angelo, it’s, It’s, , , Pacino, Sonny Boy, Sonny Boy ” Organizations: CNN, New York Times
Lisa Marie Presley said in her posthumous memoir that getting an abortion was the "stupidest" thing she did. Presley was devastated after and "plotted" to get pregnant again with then-boyfriend Danny Keough. She got pregnant and married Keough in October 1988. AdvertisementIn her posthumous memoir, Lisa Marie Presley detailed the calculated steps she took in order to get pregnant by Danny Keough after regretting an earlier abortion. Advertisement"I didn't know what I wanted except that I wanted to be with Danny," Presley said.
Persons: Lisa Marie Presley, Presley, Danny Keough, Keough, , Riley Keough, Danny, Ron Galella, Getty Images Presley, Riley, Benjamin Keough, Lisa Marie's, Page, Oprah Organizations: Service, Getty Images Locations: Aruba
After 15 years of bullishness on Honeywell , JPMorgan is finally moving to the sidelines. In a Thursday note, the Wall Street bank downgraded shares of the Charlotte-based industrial manufacturer to a neutral rating from overweight. Shares of Honeywell are up just 1% on the year but stand to gain almost 10% over the next year, based on Tusa's updated price target. HON YTD mountain HON YTD chart While Tusa said Honeywell shares are cheap, the company's planned divestitures are a short-term headwind. Still, Tusa applauded Honeywell's defensive growth profile, extended visibility from a long cycle backlog and renewed focus on growth under a new CEO.
Persons: Stephen Tusa, YTD, Tusa, divestitures Organizations: Honeywell, JPMorgan Locations: Charlotte
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. Markets: Stocks are slightly lower Thursday, but not far from the S & P 500 's record close set Wednesday. 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, Salesforce, Piper Sandler, Laggard, Analysts, It's, Piper, Salesforce's, Lisa Su, Su, Jim, Jim Cramer's Organizations: CNBC, ., CRM, Nvidia, AMD, AMD's, UBS, Broadcom, JPMorgan Chase, BlackRock, Bank of New York Mellon, PPI, Jim Cramer's Charitable Locations: China, Wells Fargo
Lisa Marie Presley wrote in her posthumous memoir that she felt unwanted by her mom, Priscilla Presley. AdvertisementLisa Marie Presley wrote in a new posthumous memoir about feeling unwanted by her mom, Priscilla Presley. Lisa Marie Presley, Priscilla Presley, and Riley Keough in 2022. Priscilla Presley and Lisa Marie Presley in September 2013. AdvertisementPriscilla Presley, Lisa Marie Presley, and Riley Keough in May 2015.
Persons: Lisa Marie Presley, Priscilla Presley, Lisa Marie, Priscilla, didn't, Elvis Presley, , Riley Keough, wouldn't, Elvis, Jon Kopaloff, Lisa, Lisa Marie said, Rick Diamond, Keough, Lisa Marie weren't, Lisa Marie's, Michael Lockwood, Riley, Eric Charbonneau, Harper, Finley Lockwood, Barry Siegel, Benjamin Keough, Daisy Jones, Oprah Winfrey's Organizations: Service, Americana Music, Getty, Warner Bros Locations: Graceland
Hurricane Milton makes its way toward Florida. Hurricane Milton plows toward FloridaFlorida is, once again, bracing for a direct hit as Hurricane Milton approaches the state and the window to evacuate closes. A storm surge of up to 15 feet is forecast along a stretch of the coast that includes Tampa, St. Petersburg and Sarasota. Florida is especially vulnerable to storm surge because “it doesn’t take much to push water over land that would be dry,” said Cody Fritz, the Storm Surge Unit Team Lead at the National Hurricane Center. “Where?”Follow our live blog for the latest forecasts and information about Hurricane Milton.
Persons: Milton, Harris, Trump, Hurricane Milton, , Cody Fritz, Helene, they’re, , , ’ ”, Mark Prompakdee, Read, Sen, Sherrod Brown, Chuck Todd, Elon Musk, Josh Shapiro, Musk, Trump’s Butler, Benjamin Netanyahu, Lloyd Austin, Yoav Gallant, Joe Biden, Lisa Marie Presley, it’s Grazer, Ethel Kennedy, Robert F, Kennedy, Tama, David Ingram, — Elizabeth Robinson, Elizabeth Robinson Organizations: NBC, National Hurricane Center, Storm Surge, Twin, NBC News, Hurricane, More Hurricane Milton, Trump, Democratic, Trump ”, Saints, Republicans, White, Tech, Pennsylvania Gov, Washington D.C, U.S . Defense, Israeli, ISIS, Border Patrol, Biden, Alaska Locations: Florida, Arizona, Hurricane, Florida Florida, Tampa, St, Petersburg, Sarasota . Florida, St . Petersburg, Twin City, Hurricane Milton, More, battlegrounds, Phoenix, Utah, Ohio, Trump’s Butler , Pennsylvania, Washington, U.S, Iran, Afghan, Oklahoma, America, San Francisco
New York CNN —Attorneys for Sean “Diddy” Combs filed a motion late Wednesday accusing the government of leaking a video of the hip-hop mogul beating his former girlfriend and other evidence to the media, asking a judge to potentially bar the footage from a trial. The motion filed by Combs’ attorneys also alleges that authorities alerted the media about the searches in March of his homes in Los Angeles and Miami. His attorneys claim the alleged leaks make it hard for Combs to get a fair trial. Spokespersons for HSI New York and the US attorney’s office for the Southern District of New York declined to comment. Following the release of the video, Combs apologized.
Persons: Sean “ Diddy ” Combs, Combs, Cassie Ventura, ” Combs, HSI, Ventura, CNN’s Lisa Respers Organizations: New, New York CNN, of New, CNN, Department of Homeland Security, Homeland Security Investigations, HSI New, US, Southern, of, DHS Locations: New York, Southern, of New York, Los Angeles, Miami, HSI New York, CNN’s Lisa Respers France
Reddit — Shares rose more than 2% after Jefferies initiated research coverage with a buy rating and a Sreet-high price target. Rio Tinto , Arcadium Lithium — The two minerals stocks moved in opposite directions after the companies announced a deal for Rio Tinto to buy Arcadium for $5.85 per share. Shares of Rio Tinto dipped 1.2%, while shares of Arcadium surged 30%. GitLab — Shares rose 5% after Morgan Stanley initiated research coverage of the software stock with an overweight rating . Chewy — Shares rose nearly 2% after TD Cowen initiated research coverage of the pet products retailer with a buy rating.
Persons: Jefferies, Blackstone — Piper Sandler, Morgan Stanley, Sanjit Singh, Nio, TD Cowen, — CNBC's Sean Conlon, Lisa Han, Alex Harring, Jesse Pound, Hakyung Kim Organizations: Boeing, Department, Rio Tinto, Federal, Cruise, Citigroup, Citi Locations: Rio, Arcadium, Nio —
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