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Wells Fargo reported results before Friday's opening bell. WFC YTD mountain Wells Fargo YTD Shares of Wells Fargo surged 6% on the release to more than $61. Wells Fargo Why we own it : We bought Wells Fargo as a turnaround story under CEO Charlie Scharf. We come away from the call feeling good not only about Wells Fargo's setup for next year. A resurgence in Wall Street dealmaking — both mergers and acquisitions and initial public offerings — will benefit Wells Fargo.
Persons: Wells, Wells Fargo, That's, Charlie Scharf, He's, Scharf, Charles Scharf, we've, Morgan Stanley, NII, Jim Cramer's, Jim Cramer, Jim Organizations: Investors, Wells, Federal Reserve, Bank of America, Citigroup, buybacks, Management, CNBC Locations: LSEG, Wells, Wells Fargo, reinvest, U.S, NII
Whether we're stocking up on familiar favorites or taking advantage of big discounts, NBC Select editors made good use of Prime Day. Below are all the products we added to our carts this October Prime Day. I never don’t have extra bottles in my apartment and I always like to stock up on it during Prime Day. I always buy basics on Prime Day, so this was a no-brainer to throw in my cart last minute. To round up this list, I asked editors what they bought for Prime Day and why they bought each product.
Persons: – Lindsay Schneider, – Mili, La, I’ve, – Cory Fernandez, bobby pins, – Lauren Swanson, they’re, Mili, Zoe Malin, – Rebecca Rodriguez, – Aksha, – Bianca Alvarez, Ana Luisa, Anker, Aksha, – Ella Morrissey, – Nikki Brown, Rosalie Sparaco, It’s comfy, they’ve, – Ashley Morris, – Zoe Malin, – Jordan Bowman, I’m, TikTok Organizations: NBC, La Roche, Apple, Amazon, July’s, Prime, Facebook, Twitter Locations: Poppi
Since the start of October, investors and Nvidia watchers have gained a few new numbers to add to their models. AdvertisementThe funding is the clearest sign that investors are still willing to back the biggest bet on generative AI available. OpenAI announced the fresh funding last week, led by Thrive Capital with Microsoft, Nvidia, Softbank, Khosla Ventures, and others participating. Thank you to Nvidia for delivering one of the first engineering builds of the DGX B200 to our office." But, anecdotal evidence of companies finding value in generative AI may be starting to penetrate the investor class as well, according to a new survey from Morgan Stanley.
Persons: , OpenAI, Billionaire Vinod Khosla, Blackwell, Jensen Huang, Huang, doesn't, David Solomon, Morgan Stanley Organizations: Service, Nvidia, Microsoft, Softbank, Khosla Ventures, Billionaire, CNBC, Taiwan Semiconductor Manufacturing Company Locations: OpenAI, Blackwell
Oil prices rise on Israel-Iran conflict fears and U.S. storm
  + stars: | 2024-10-10 | by ( ) www.cnbc.com   time to read: +1 min
Oil prices rose in early Asian trade on Thursday on concerns about potential supply disruptions in the Middle East, with Israel planning to strike oil-producer Iran, and on spikes in fuel demand as a major storm barreled into Florida. The world's largest oil producer and consumer has been hit by a second major storm, Hurricane Milton, which made landfall on Florida's west coast, spawning tornadoes and threatening surges of seawater. The storm has already driven up demand for gasoline in the state, with about a quarter of fuel stations selling out of supplies, which has helped support crude prices. Further underpinning prices, investors remained wary of a potential escalation in tensions between Israel and Iran, with Israeli Defense Minister Yoav Gallant promising an Israeli strike against Iran would be "lethal, precise and surprising". Even with threats to the oil-producing Middle Eastern region top of mind, weak demand continues to underpin the fundamental outlook.
Persons: Iran, Hurricane Milton, Yoav Gallant, Joe Biden, Benjamin Netanyahu, Israel's Organizations: Brent, U.S . West Texas, Israeli, U.S . Energy, Administration, Reuters, American Petroleum Institute Locations: Israel, Florida, U.S, Hurricane, Florida's, Iran, China, North America
China's CSI 300 index has gained about 25% since the stimulus measures were announced. That would depend on whether the measures announced will likely target China's stock market or the real economy. Even if China's economy improves and its stock market soars, experts suggest it's unlikely to hurt the Indian equity market's growth outlook over the long term. For now, a strong and rapidly growing economy, as well as a "resilient" domestic investor base, continue to be significant drivers of Indian stock markets, according to Wall Street's observers. "The Indian market has numerous positive domestic drivers which underpin our overweight recommendation," Morgan Stanley's Jonathan Garner said in a note to clients this week.
Persons: India's, Chris Ma, Berstein's Rupal Agarwal, David Aserkoff, Aserkoff, Morgan Stanley's, Wall, Morgan, Jonathan Garner, Michael Bloom Organizations: CSI, Beijing, Citi, Central Locations: China, India, Asia, Eastern Europe, Africa
As Election Day draws nearer, the Republican presidential nominee has made false claim after false claim on a dizzying variety of subjects. FEMA and migrants: Trump falsely claimed of the Federal Emergency Management Agency: “They have no money. Trump’s opponents and the election: In Reading, Trump falsely claimed of his election opponents: “They are cheatin’ dogs, I will tell you that.” In Scranton, he falsely claimed, “Their first meeting is: ‘How do we cheat?’” This is all nonsense. Trump’s border wall: Trump repeated his false claim that “I built over 500 miles of wall” on the southern border. Military equipment surrendered to the Taliban: Trump repeated his false claim that “we gave $85 billion worth” of US military equipment to the Taliban.
Persons: Donald Trump, Hurricane Helene, Hurricane Milton, Trump, , Harris, Kamala Harris “ didn’t, It’s, Biden, Roy Cooper, Joe Biden, , , Harris ’, ” Trump, Walz, Tim Walz, , Tim, “ everybody’s, Trump’s, Obama, Kamala, ” Harris, ” Roberto Briceño, ” Helen Fair, James Ott, , ‘ That’s, Jack Smith, Smith, New York Times “, Charlie Stadtlander, Stadtlander, Mueller, ‘ He’s, ’ …, Dean Baquet, Arthur Sulzberger Jr, Donald Trump’s, “ Biden, Chris Wallace, Hunter Biden, ” Wallace, Wallace interjected, Freddie Mac, ” We’ve, Meghan McCain, McCain, Alexandria Ocasio, Cortez, Nancy Pelosi, there’s, ” Biden, Robert Hur, Biden’s Organizations: Washington CNN, Republican, FEMA, Federal Emergency Management Agency, Congress, North Carolina Gov, Democrat, Democratic, CBS, Supreme, Minnesota Gov, Electoral College, Department of Energy, Biden, , CNN, Venezuelan, of, Institute for Crime & Justice, Research, Birkbeck , University of London, House Republicans, Trump, KDKA, Service, Secret Service, International Association of Firefighters, Scranton Firefighters, Scranton Times, Tribune, Presidential, National Archives, Records Administration, New York Times, The Washington Post, , Intelligence, The New York Times, Times, ISIS, Military, Taliban, Pentagon, Fox News, China Locations: Pennsylvania, Scranton, Reading, , Hurricane, North Carolina, Washington , Montana, Colorado, New York City, Paris, fracking, Venezuela, Caracas, United States, United Kingdom, , California, Butler, Butler , Pennsylvania, Pittsburgh, Blair County , Pennsylvania, Russia, Afghan, China, Moscow, Alexandria, New Hampshire, Florida
Zuckerberg's reveal of Orion late last month has triggered a level of enthusiasm that's unfamiliar in the metaverse. He showed off the gadget — a pair of black, thick-framed AR glasses — to the live audience before placing it on his face. In the meantime, Meta is looking to build on the success of its second-generation Ray-Ban Meta smart glasses. The smart glasses went viral on TikTok during the holiday shopping season, and sales exceeded both companies' expectations. Meta is also opening a pop-up shop to showcase the smart glasses and to get them in front of more consumers.
Persons: Mark Zuckerberg, Manuel Orbegozo, Zuckerberg, Orion, CNBC's Julia Boorstin, Alex Heath, Pong, Ray, Meta, it's, Meta's, Oculus, Michael Abrash, Sara Nicholson, Andrew " Boz, Bosworth, who's, Joseph Bonner, Bonner, Luxottica Organizations: Meta, Reuters, Facebook, Ray, Orion, Quest, Wall, VR, Reality Labs, Labs, IDC, CNBC, . Engineers, Argus Research, EssilorLuxottica, Solutions, West Hollywood Locations: Menlo Park , California, U.S, Los Angeles, West, Southern California
CNN —Former President Donald Trump unveiled yet another set of targeted tax break proposals on Thursday, doling out more promises of relief as Election Day draws ever closer. Speaking before the Detroit Economic Club on Thursday, Trump promised to make the interest paid on car loans fully tax deductible, similar to the popular existing deduction for mortgage interest. They raped our country.”One tax expert questioned why Trump would limit the benefit just to car loans. “Once and for all, I’m going to end double taxation on our overseas citizens,” he said in a video released Thursday. Currently, some Americans living abroad must pay taxes to both the United States and to the country where they reside.
Persons: Donald Trump, doling, Trump, , , Howard Gleckman, ” Gleckman, “ You’ve, Kamala Harris, CNN’s Ali Main Organizations: CNN, Detroit Economic, NAFTA, Trump, Brookings Tax, Security, Congress, Committee, Budget Locations: Michigan, Mexico, Canada, Shanghai, Sterling Heights, , United States
As long as inflation continues to come down, the Fed should continue cutting rates, allowing mortgage rates to ease as well. But what happens in the labor market will also have a big impact on how mortgage rates trend for the rest of 2024. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile.
Persons: they've, Freddie Mac Organizations: Fed, Federal Reserve, Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs Locations: Chevron
The relationship between Trump and Putin has long been a source of controversy. AdvertisementWith only a month to go before the presidential election, Donald Trump's relationship with Russian President Vladimir Putin has once again come under the spotlight. In a forthcoming book, journalist Bob Woodward says that the former president and Putin have a closer friendship than previously known. The Ukraine war has already roiled markets for food, oil, gas, and other products, and wider conflict could have an even more devastating impact. If Russian President Vladimir Putin is victorious in Ukraine, it may embolden Chinese leader Xi Jinping to invade Taiwan.
Persons: Trump, Putin, , Donald Trump's, Vladimir Putin, Bob Woodward, Steve Cheung, Woodward, Robert Mueller, Yuri Gripas, Joe Biden, he'd, he's, JD Vance, Volodymyr Zelenskyy, Philip Ingram, Zelenskyy, Kenneth Rogoff, William Pomerantz, Vance, Xi, Ingram, Xi Jinping, Sergei Savostyanov, Jamie Dimon, Dimon, William Reinsch, Kamala Harris, Harris, Pomeranz Organizations: Service, CNN, Washington Post, Putin, Trump, Kremlin, REUTERS, Republicans, International Monetary Fund, Wilson Center, Getty, JPMorgan, CNBC, TV18, Center for Strategic, International Studies, Wall Street Locations: Ukraine, Russia, British, Europe, Washington ,, China, Russian, Taiwan, NATO, Asia, India, Pennsylvania
"A few participants also added that a 25 basis point move could signal a more predictable path of policy normalization." Since the meeting, economic indicators have showed that the labor market is perhaps stronger than officials favoring the 50 basis point move had expected. The minutes noted that the vote to approve the 50 basis point cut came "in light of the progress on inflation and the balance of risks" against the labor market. Though the document was more detailed about the debate over whether to approve the 25 basis point cut, there was not as much information about why voters supported the larger move. Since the Fed meeting, both the 10- and 2-year Treasury yields have surged about 40 basis points.
Persons: Michelle Bowman, nonfarm, Jerome Powell, Powell Organizations: Federal, Market, Treasury Locations: WASHINGTON
(This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for PRO subscribers. Worldwide Exchange airs at 5 a.m. Worldwide Exchange Word of the Day: Earnings Stephanie Link of Hightower believes Q3 earnings will be better than LSEG estimates of a 5% increase year over year; seeing potential for an 8-10% increase. "This gives it some room to outperform in the final quarter," Baruch said on Worldwide Exchange. (This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for PRO subscribers.
Persons: Stephanie Link, Hightower, Bill Baruch, Baruch, Wells Fargo Organizations: PRO, Worldwide, Federal Reserve, Atlanta Fed, Blue, Wolfe Research, Dow Transports, Dow Jones Transportation, Citi, Logistics
But when he first moved to the city, Cuban says he spent months sleeping on the floor of an apartment. Cuban recounted his early days in Dallas on the "Life in Seven Songs" podcast this week. AdvertisementThese days, billionaire Mark Cuban resides in a 24,000-square-foot mansion located in one of the nicest neighborhoods in Dallas. But his boss fired him instead, Cuban told The Standard. "I was young, single, and crazy, and there were no limits," Cuban told the outlet.
Persons: Mark Cuban, Cuban, , wasn't, San Francisco Standard's, Cuban's, Kamala Harris, Donald Trump Organizations: Service, San, Indiana University, Cuban, American Airlines, Dallas, Mavericks, Republican Locations: Dallas, Cuban
Michael Jordan appears to have taken delivery of a Gulfstream G650ER. AdvertisementMichael Jordan appears to have taken delivery of a new private jet worth around $65 million. A Gulfstream G650ER with a flamboyant custom paint job, including the Jumpman logo, was filmed on the tarmac at Palm Beach International Airport in a video uploaded to TikTok on Monday. It also has space for its own bedroom, but it's unclear exactly how the interior of Jordan's jet is configured. According to JetSpy data, Jordan's G650ER has flown 13 times in the past two weeks, most of which appear to be related to the delivery process.
Persons: Michael Jordan, Elon Musk, Mark Zuckerberg, , TikTok, Jeff Bezos, Jordan —, Jordan, G650ER Organizations: Gulfstream, Palm Beach International, Service, Federal Aviation, Elon, Nike, Chicago Bulls, Charlotte Hornets, Gulfstream G550 Locations: Tokyo, Florida
CNBC's Jim Cramer on Wednesday criticized the Department of Justice's potential remedies in the Google search-monopoly case, arguing that, if they were implemented, the California tech giant would be "a shell of its former self." In early August, Judge Amit Mehta ruled that Google used illegal practices to maintain a monopoly in the internet search market. "This is devastating," Cramer said Wednesday on "Squawk on the Street," reacting to the DOJ filing. The stock has lagged the S & P 500 considerably since the monopoly ruling was handed down Aug. 5. Including Wednesday's intraday move, shares are down more than 3.5% compared with a nearly 8% gain for the S & P 500.
Persons: CNBC's Jim Cramer, Amit Mehta, Cramer, Lee, Anne Mulholland, It's Organizations: of, Google, U.S ., Trust, CNBC, Justice Department, Wall, Greyhound, Club Locations: California, U.S
These dividend growers are also on Goldman Sachs' buy list
  + stars: | 2024-10-09 | by ( Michelle Fox | ) www.cnbc.com   time to read: +4 min
Goldman Sachs recently screened for stocks that offer solid dividend yield as well as dividend growth, both of which can be covered by the company's earnings or free cash flow. All the names had to also be rated a buy at Goldman and have an estimated dividend yield of 2% or more in 2025. It has an estimated 2025 dividend yield of 4.6%, analyst Deep Mehta said. Its estimated CAGR in dividend-per-share between 2024 and 2026 stands at 19% and its estimated dividend yield in 2025 is 2.9%. In the oil patch, integrated producer Chevron is expected to nab a dividend yield of 4.9% next year.
Persons: Goldman Sachs, Deep Mehta, Corie Barry, Mehta, Prologis, Hess, John Hess Organizations: Federal Reserve, Goldman, Citigroup, Rent, Chevron, nab, Canadian Natural Resources, Federal Trade Commission, Exxon, Hess Locations: Guyana
The Reserve Bank of India (RBI) kept its key interest rate unchanged on Wednesday, as widely expected, but tweaked its policy stance to "neutral," opening the door for rate cuts amid early signs of a growth slowdown in the economy. The Monetary Policy Committee, which consists of three RBI and three external members, kept the repo rate unchanged at 6.50% for a tenth straight policy meeting. The committee, however, changed its policy stance to "neutral" from "withdrawal of accommodation." The MPC last changed rates in February 2023, when the policy rate was raised to 6.50%. India's overall growth slowed to 6.7% in the June quarter.
Organizations: Bank of, Global, Reserve Bank of India, Monetary, Committee, Reuters, MPC, PMI Locations: Bank of India, Mumbai, India
CNN —Covid-19 could be a powerful risk factor for heart attacks and strokes for as long as three years after an infection, a large new study suggests. What’s more, for people who needed to be hospitalized, Covid appeared to be as potent a risk factor for future heart attacks and strokes as diabetes or peripheral artery disease, or PAD. A finding unique to Covid-19The elevated heart risks from infection did not appear to diminish over time, the study found. People who were hospitalized for Covid but who were also taking low-dose aspirin had no increase in the likelihood of a subsequent heart attack or stroke. “If you’ve had Covid, we have to be especially attentive to making sure that we’re doing everything possible to lower your cardiovascular risk,” Hazen said.
Persons: CNN —, Covid, , , Stanley Hazen, “ That’s, Patricia Best, ” Best, Hooman, Allayee, James Hilser, Hazen, Dr, Sanjay Gupta, you’ve, ” Hazen Organizations: CNN, Covid, Cardiovascular, Metabolic Sciences, Cleveland Clinic, Mayo Clinic, Keck School of Medicine, University of Southern, CNN Health Locations: Rochester , Minnesota, University of Southern California
Brookville has been named one of the most affluent neighborhoods in the US. The home, nicknamed "Shangri-La," has eight bedrooms and sits on 21.9 acres of land. One of these properties is a $33.5 million mansion nicknamed "Shangri-La," which has been on the market for a year and a half. It's located in the small village of Brookville, which has been named one of the most affluent neighborhoods in the US. AdvertisementKeep scrolling to see inside this expansive property in one of the country's most affluent neighborhoods.
Persons: , Daniel Gale Sotheby's Organizations: Service, Survey Locations: Brookville, Long, of Long, , New York
But right now, borrowers should expect mortgage rates to remain near their current levels for the rest of 2024. See more mortgage rates on Zillow Real Estate on ZillowWhat Are Today's Mortgage Refinance Rates? See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Current 30-Year Mortgage RatesAverage 30-year mortgage rates are hovering around 6.20%, according to Zillow data. But now that inflation has decelerated and the Fed is expected to cut rates soon, mortgage rates have trended down.
Persons: Freddie Mac, it's, Fannie Mae Organizations: Federal Reserve, Zillow, Fed, Mortgage, Association, ARM, . Government Locations: Chevron, Government
Brendan McDermid | ReutersThis 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. Markets are back to contending with rising oil prices, inflation possibly reaccelerating, fewer-than-expected rate cuts and potentially even a distant recession. The yield curve inverted in early July 2022 and normalized in early September. It's not inconceivable, then, for investors who take stock in what the yield curve signals to panic a little.
Persons: IXIC, Brendan McDermid, That's, Jeff Cox, It's, David Roche, Bob Parker, – CNBC's, Lisa Kailai Han, Jesse Pound Organizations: New York Stock Exchange, Reuters, CNBC, Quantum, International Capital Markets Locations: U.S
Piper Sandler said Hurricane Milton could change the insurance market. Piper Sandler said Milton shares similarities with Ian, which resulted in $56 billion in insured losses. "Historically, insurance stocks fall as the hurricane approaches landfall and as it creates damage. Below is a table of estimated insured losses from insurance companies from Hurricane Ian. "The typical rebound in the insurance stocks happens when it becomes clear how large the insurance event was (or was not).
Persons: Piper Sandler, Milton, Paul Newsome, Hurricane Ian —, Newsome, Ian, LSEG, Chubb, — CNBC's Michael Bloom Organizations: Hurricane Ian, Allstate, American International Group, Heritage Insurance, Progressive, Universal Insurance Holdings, Travelers Locations: Florida, Milton, Hurricane, Newsome
You can also find the AeroPress Coffee Maker, another top single-serve brewer, for the lowest price this year: $35 at Amazon. View at Amazon What we like Check mark icon A check mark. Quiet and fastCheck mark icon A check mark. View at Amazon What we like Check mark icon A check mark. Less than 5 inches wideCheck mark icon A check mark.
Persons: It's, Smart, Keurig, Creatista Organizations: Business, Deal, FlexBrew, Hamilton
The 10-year Treasury yield was down by over two basis points at 3.998%, while the yield on the 2-year Treasury was 5 basis points lower at 3.949%. U.S. Treasury yields were slightly lower early Tuesday, reversing course after the 10-year hit it highest level in more than two months during the previous session. The 10-year jumped above 4% on Monday amid stronger labor market readings and despite the start of a Federal Reserve rate-cutting campaign last month. The 10-year yield was up more than 4 basis points to 4.024%, its highest since early August and a big turnaround from its 2024 low of around 3.58%, reached a little more than a month ago. The yield on the 2-year Treasury was up nearly 6 basis points to 3.989%.
Persons: policymaker Adriana Kugler, , John Melloy, Lisa Kailai Han Organizations: Treasury, U.S, Federal
The best Amazon Prime Day dealsKeep checking in on our curated deals list below, as we'll be updating it throughout the event with our latest Prime Day picks. Tech and gaming Prime Day dealsThis will be one of the busiest sections of the October Prime Day sale, and some absolute bangers are live already. View at AmazonKitchen Prime Day dealsLooking for a Prime Day pick-me-up? View at AmazonStyle and beauty Prime Day dealsIt's not all high-end electronics on Prime Day. View at AmazonAmazon Prime Day FAQsWhen is Amazon Prime Day?
Persons: We'll, we've, we'd, You'll, Bose, Apple, LG's, 120Hz, HLG, OmniForce, Bissell, Loren, LQ, seltzer, It's, I've, Skip, shams Organizations: Business, Amazon Prime, Deal, Tech, Apple, Deal Sony, Slim, Alexa, Kindle, Google, Amazon Samsung Galaxy Watch, Galaxy Watch, Amazon, Sony, Apple AirPods, LG, Samsung, Dolby, HLG Smart, Amazon LG, Chatelet Air, Bissell, DELTA, Delta, Barista, REVLON, Revlon, Amazon Braun, Braun
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