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☆ Jamie Dimon denies Trump's claim that JPMorgan CEO has endorsed him
▼ + stars: | 2024-10-04 | by ( Kevin Breuninger | ) www.cnbc.com time to read: 1 min

JPMorgan Chase on Friday flatly denied that its CEO, Jamie Dimon, has endorsed Donald Trump for president, minutes after the Republican nominee claimed on social media that Dimon is now backing him. "Jamie Dimon has not endorsed anyone. He has not endorsed a candidate," Dimon spokesman Joe Evangelisti told CNBC in a phone call. Trump on Truth Social had posted a screenshot falsely claiming, "New: Jamie Dimon, the CEO of JPMorgan Chase, has endorsed Trump for President." When NBC News asked Trump about the post later Friday, Trump said he didn't know about it and that it wasn't posted by him.

Persons: JPMorgan Chase, Jamie Dimon, Donald Trump, Joe Evangelisti, Trump Organizations: Republican, CNBC, Truth, JPMorgan, NBC News

☆ Stock market next week: Investors wonder what's to come after tumultuous October start
▼ + stars: | 2024-10-04 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Stocks struggled this week as rising tensions in the Middle East set off the strongest rally in oil prices since March 2023. "The stock market has been living up to October's reputation of increased volatility," said Glen Smith, chief investment officer at GDS Wealth Management. Inflation report, Fed minutes on deck In the week ahead, investors will keep an eye on a couple of potential catalysts. On Wednesday, investors will parse minutes from September's central bank gathering for insights into the future path of monetary policy. "I would say the inflation report is probably less important than it used to be," Dickson said.

Persons: Stocks, Glen Smith, Said, Mike Dickson, Chris Zaccarelli, Zaccarelli, Investment's Dickson, It's, Dickson, Wells, John Williams, JPMorgan Chase Organizations: Dow Jones Industrial, Nasdaq, Federal Reserve, GDS Wealth Management, Federal, Horizon Investments, CNBC Pro, Independent, Alliance, PepsiCo, Delta, JPMorgan Chase, PepsiCO, New York Fed, PPI, University of Michigan, BlackRock, Bank of NY Mellon, JPMorgan Locations: White, Wells Fargo, Fastenal, Wells

☆ 3-Stock lunch: Rivian, JPMorgan, & Fedex
▼ + stars: | 2024-10-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email3-Stock lunch: Rivian, JPMorgan, & FedexDoug Butler, Rockland Trust, senior vice president and director of research, joins CNBC's 'Power Lunch' to discuss three stocks: Rivian, JPMorgan Chase, and Fedex.

Persons: Fedex Doug Butler, JPMorgan Chase Organizations: JPMorgan, Fedex, Rockland Trust Locations: Rockland

☆ Stocks making the biggest moves midday: Rivian, Abercrombie & Fitch, CVS, Spirit Airlines and more
▼ + stars: | 2024-10-04 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Abercrombie & Fitch - Shares of the teen apparel retailer jumped nearly 8% after JPMorgan added it to its positive catalyst watch list. JetBlue shares jumped more than 15% on the news. Summit Therapeutics – The biopharmaceutical company added 2%. Other international shipping stocks saw losses as well, including Danish shipping giant Maersk at 5% . CVS Health — The company's shares added 3.3%.

Persons: Abercrombie &, Matthew Boss, Hollister, Tencent, — CNBC's Sean Conlon, Hakyung Kim, Christina Cheddar, Berk, Lisa Kailai Han Organizations: Abercrombie, Abercrombie & Fitch, JPMorgan, Spirit Airlines, JetBlue Airways —, Wall Street, JetBlue, Vistra, Nvidia, Therapeutics, Drug Administration, Ubisoft Entertainment, Bloomberg News, Ubisoft, SilverCrest Metals, Mining, Zim Integrated Shipping Services —, U.S, dockworkers, United States Maritime Alliance, Maersk, CVS Health, CNBC, CVS

☆ Economy's on the track the Fed wants and they can follow the dot plot, says JPMorgan's David Kelly
▼ + stars: | 2024-10-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomy's on the track the Fed wants and they can follow the dot plot, says JPMorgan's David KellyDavid Kelly, JPMorgan Asset Management chief global strategist, joins 'Squawk on the Street' to discuss Friday's jobs report in regards to the Fed's monetary policy, if there's a risk-on signal for equity markets, and much more.

Persons: JPMorgan's David Kelly David Kelly Organizations: JPMorgan Asset Management

☆ Jamie Dimon: No, I haven't endorsed Donald Trump
▼ + stars: | 2024-10-04 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +4 min

Jamie Dimon denied Donald Trump's claim that the JPMorgan Chase CEO had endorsed him. AdvertisementJamie Dimon hasn't endorsed Donald Trump — despite what the former president wrote on social media. The Republican presidential nominee posted a photo on Truth Social on Friday of Dimon with a caption above reading, "New: Jamie Dimon, the CEO of JPMorgan Chase, has endorsed Trump for President," beside a red siren emoji. But a spokesperson for JPMorgan Chase told Business Insider, "Jamie Dimon has not endorsed a candidate." Advertisement"I have a lot of respect for Jamie Dimon," Trump told the outlet, adding that, "He is somebody that I would consider, sure," when Bloomberg suggested the possibility of offering Dimon the role of Treasury Secretary.

Persons: Jamie Dimon, Donald Trump's, Trump, Dimon, Elon, —, Jamie Dimon hasn't, Donald Trump —, JPMorgan Chase, Tesla, Elon Musk, Mark Cuban, Kamala Harris, — Dimon, he'd, Nikki Haley, Trump's, CNBC's Organizations: JPMorgan Chase, Service, Republican, JPMorgan, Business, SpaceX, Trump, Democratic, Bloomberg Businessweek, Bloomberg, NATO, CNBC, TV18, White Locations: China

☆ Harris' Uber executive brother-in-law says he won't join her cabinet. Other business leaders still have a shot.
▼ + stars: | 2024-10-04 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +3 min

Tony West, Harris' brother-in-law and an Uber executive, doesn't plan on serving in her cabinet. Other private sector stars are in the running for key positions like Treasury secretary. Tony West, Harris' brother-in-law and a top executive at Uber, has been instrumental in cementing the vice president's relationship with corporate America. Sources told Semafor he's a leading candidate for Treasury secretary, among other positions. Related storiesBut Chenault isn't a shoo-in — leaders on and off Wall Street are also jockeying for the coveted position.

Persons: Tony West, Harris, —, Kamala Harris, Uber, Ken Chenault, Chenault, Semafor he's, Berkshire Hathaway, Wally Adeyemo, Gina Raimondo, Jamie Dimon, JPMorgan Chase, Blair Effron, Charles Phillips, Brad Smith, Lina Khan, Gary Gensler, Mark Cuban Organizations: Service, White, Uber, America, Wall Street Journal, Former American Express, Democratic, Democratic National Convention, American Express, Facebook, IBM, Procter, Gamble, Treasury, Commerce, JPMorgan, CNBC, Microsoft, Federal Trade Commission, Securities, Exchange Commission, SEC Locations: Airbnb, Berkshire

☆ CNBC Daily Open: Stocks can’t defy October’s gravity
▼ + stars: | 2024-10-04 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

This 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. [PRO] How to play the jobs report The U.S. jobs report for September, coming out later today, will indicate if the economy will be able to achieve a soft landing or is headed toward a recession. Analysts at JPMorgan break down how the S&P 500 could react , depending on the number of jobs added for September. With the jobs report out in about 12 hours, it's too late for second guessing, in any case.

Persons: AI's, Nvidia's, Blackwell, Jensen Huang, Dow Jones, David Kelly, Kelly, it's, –, Jeff Cox, Alex Harring, Pia Singh Organizations: New York Stock Exchange, CNBC, JPMorgan, Nvidia, Port, U.S, International Longshoremen's Association, United States Maritime Alliance, Dow Jones Industrial, Nasdaq, Dow, U.S . Federal Reserve, Asset Management Locations: New York City, U.S, East, Gulf Coast

☆ These dividend stocks have a track record of solid fourth-quarter performance, Bespoke says
▼ + stars: | 2024-10-04 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +3 min

October is off to a rocky start, but a strong period of seasonality is only just beginning – particularly for select dividend-paying stocks, Bespoke Investment Group found. Dividend-paying stocks have been especially strong when it comes to fourth-quarter returns over the past 10 years, Bespoke found. In addition to having seasonality in their favor, dividend stocks are also expected to benefit from the Federal Reserve's interest rate cutting cycle. Tapestry also has a dividend yield of 3%. The stock has a total return of more than 21% in 2024, as well as a dividend yield of nearly 5%.

Persons: Matthew Boss, Tabby, Boss, Coach's, it's, Piper Sandler, Scott Siefers, Siefers, Wells, Michael Brown, Brown, Lamb Weston Organizations: Investment, New, JPMorgan, BlackRock, JPMorgan Chase, Bank of America Locations: Brooklyn, BlackRock, Wells Fargo

☆ Jim Cramer's week ahead: CPI data and earnings from Delta, Domino's and major banks
▼ + stars: | 2024-10-04 | by ( Julie Coleman | ) www.cnbc.com time to read: +3 min

CNBC's Jim Cramer reviewed next week's top market-moving action, highlighting new consumer price index data and a slew of earnings reports as the season begins, including ones from Delta , Domino's and several major banks. The labor department will release September's CPI report on Thursday, and Cramer said investors who want a rate cut are hoping for a cool number. Friday brings the producer price index report, and like the CPI, this data will be a metric for the Fed's next decision, Cramer said. Big ticket financial earnings will also come out that day, including Wells Fargo , JPMorgan and Blackrock . He said banks represent the least expensive group on the market, and investors should use any weakness to buy them.

Persons: CNBC's Jim Cramer, Cramer, he's, Delta, Tesla Organizations: Wall, PepsiCo, General Motors, Federal, Big Tech, AMD, HP Enterprise, Big, JPMorgan, Blackrock Locations: Delta, Domino's, Wells Fargo

☆ Warren Buffett has sold about $10 billion of Bank of America stock — after slashing his Apple stake by nearly 60%
▼ + stars: | 2024-10-04 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Warren Buffett has sold 23% of his Bank of America stake for about $10 billion since mid-July. AdvertisementWarren Buffett has followed up the surprise paring of his Apple stake by taking a knife to another of his largest holdings: Bank of America. Berkshire has slashed its stake from 1.03 billion shares to 794 million shares, reducing its ownership from 13.2% to 10.2%. Related storiesBuffett might also be rebalancing Berkshire's $300 billion stock portfolio in line with his smaller Apple bet. True to his bargain-hunter reputation, Buffett topped up his Bank of America stake in 2020, when the pandemic-hit stock was trading around $25.

Persons: Warren Buffett, Buffett, —, Berkshire Hathaway, hasn't, he's, Goldman Sachs, There's, Brian Moynihan Organizations: Bank of America, Berkshire Hathaway's, Express, Service, Berkshire, Securities, Exchange, Apple, American Express, Oracle, of America, Bank of, JPMorgan Locations: Berkshire, —, Thursday's, Omaha

☆ CNBC Daily Open: October’s gravity bringing stocks down
▼ + stars: | 2024-10-04 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Michael M. Santiago | Getty ImagesThis 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. But gravity is catching up with stocks in October, which tends to be a volatile month. If the number of jobs added comes in higher than expected, markets are likely to react well. With the jobs report out in about 12 hours, it's too late for second guessing, in any case.

Persons: Michael M, Dow Jones, David Kelly, Kelly, it's, –, Jeff Cox, Alex Harring, Pia Singh Organizations: New York Stock Exchange, Santiago, CNBC, Dow Jones Industrial, Nasdaq, Nvidia, Dow, U.S . Federal Reserve, Asset Management Locations: New York City

☆ Short ideas: Here are the stocks JPMorgan is betting against in the fourth quarter
▼ + stars: | 2024-10-04 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Despite the major indexes trading near their all-time highs, there are still plenty of stocks that JPMorgan is bearish on in the coming quarter. Against this backdrop, JPMorgan surveyed its analysts for their top short ideas, or stocks that might underperform going into the fourth quarter. Shares have risen 9% in 2024, leading to what JPMorgan analyst Michael Rehaut believes is an expensive valuation. JPMorgan analyst Kenneth Goldman also has an underweight rating on Beyond Meat . "Plant-based meat continues to struggle as the fad fades," the analyst wrote.

Persons: Stocks, Stanley Black, Decker, Michael Rehaut, Kenneth Goldman, Stephen Tusa, Mark Strouse Organizations: JPMorgan, Federal, Traders, Rockwell Automation, ROK, FuelCell Energy Locations: —, underinvestment

☆ The bull market is about to turn two. Here's what's needed for further gains ahead
▼ + stars: | 2024-10-03 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

This latest bull run has been strong, even by historical standards. The broad market index has also reached a record above 5,700 — with some on the Street expecting it to top 6,000 before year-end. The bull market will be two later this month. .SPX mountain 2022-09-30 SPX since Q4 2022 The first: "The disinflation that has defined the cyclical bull needs to remain in place," said Clissold. The second element needed for the bull run to carry on is a successful soft landing.

Persons: Ned Davis, Ed Clissold, Clissold Organizations: Ned Davis Research, Fed, JPMorgan

☆ Stocks making the biggest moves midday: Hims & Hers Health, Joby Aviation, Levi Strauss and more
▼ + stars: | 2024-10-03 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

EVgo — Shares soared 55% after the electric vehicle charger company received a $1.05 billion conditional loan from the Department of Energy. Hims & Her Health had previously developed compound versions of the drugs to take advantage of the shortage. Joby Aviation – Shares dropped more than 7%, paring back gains made in the previous session. Palantir recently announced that it's partnering with Edgescale AI to deliver Live Edge, a platform that will utilize artificial intelligence for manufacturing, utilities and other areas. Investors see both Vistra and Constellation as becoming key supporters of data center growth for developing tech companies' artificial intelligence technologies.

Persons: Bill Peterson, Eli Lilly, paring, Joby, Levi Strauss, Levi, Jensen Huang, CNBC's, Blackwell, Henning Cosman, Palantir, Sundar Pichai, Yun Li, Lisa Kailai Han, Hakyung Kim Organizations: Department of Energy, JPMorgan, U.S . Food, Drug Administration, Toyota, Dockers, Wolfspeed, Mizuho, Nvidia, Barclays, Constellation Energy, Nikkei, Investors Locations: U.S, China

☆ JPMorgan just raised its price target for Tesla — but it still expects a 48% crash in the stock
▼ + stars: | 2024-10-03 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

JPMorgan sees the stock drifting even lower, by as much as 48% to its $130 price target. AdvertisementJPMorgan raised its price target for Tesla stock — but the bank still sees shares of Elon Musk's electric carmaker falling almost 50% in the coming year. Tesla stock is down 7% since it reported third-quarter vehicle deliveries on Wednesday, but JPMorgan thinks it can go much lower. In a Thursday note, the bank set its December 2025 Tesla stock price target to $130, representing potential downside of 48% from Wednesday's close. AdvertisementJonas has a $310 price target for Tesla stock, more than double Brinkman's $130 target.

Persons: Tesla, —, Ryan Brinkman, Brinkman, Dan Ives, Elon Musk, that's, Adam Jonas, Morgan Stanley, Jonas Organizations: JPMorgan, Service, Elon, Wall, Toyota Locations: Wednesday's

☆ Biggest opportunity in small and mid-cap stocks for a generation, JPMorgan strategist says
▼ + stars: | 2024-10-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBiggest opportunity in small and mid-cap stocks for a generation, JPMorgan strategist saysEduardo Lecubarri, managing director and global head of small and mid-cap equity strategy at J.P. Morgan, breaks down the opportunities in the space and how to pick stocks, while also reviewing the role of AI.

Persons: Eduardo Lecubarri, Morgan Organizations: JPMorgan

☆ What office meltdown? Developers see a shortage of high-end space and are rushing to build it.
▼ + stars: | 2024-10-03 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +12 min

Much of the office market may be mired in a downturn, but demand has been strong for high-end space. New office construction has dropped off sharply, leading to a potential upcoming shortage. That demand has persisted even as office construction has been stifled by higher interest rates and inflation, which have pushed up costs. Worries over the health of the office market have also made lenders reluctant to finance new development. 8 million square feet of that is pre-leased, meaning that there is only about 10 million square feet of upcoming available top quality space.

Persons: —, Hilary Goldfarb, Goldfarb, Crowell, there's, Scott Rechler, Rechler, Vanderbilt, Philippe Visser, CBRE, Visser, Larry Silverstein, Norman Foster, Silverstein, Randolph St, Ross, Stephen Ross, Jordan Rathlev, Rathlev, Jessica Morin, Morin, Banks, RXR, I'm, you'd Organizations: Service, Rockefeller Development, Fifth St, RXR, Skidmore, Owings, Merrill, TF Cornerstone, Grand Central, Citadel, Yards, Companies, Oxford Properties, Hudson, Hudson Yards, KKR, Meta, World Trade Center, American Express, Trade, Related's, Central Locations: Washington ,, Washington, DC, New York, San Francisco, midtown Manhattan, Manhattan, Wells Fargo, BlackRock, Lower Manhattan, Chicago, Fulton, West Palm Beach , Florida, CBRE

☆ A trio of crises threatens to upend the race 5 weeks before Election Day
▼ + stars: | 2024-10-03 | by ( Alice Tecotzky | Erin Snodgrass | ) www.businessinsider.com time to read: +10 min

A trio of emergencies has all struck just five weeks ahead of the 2024 presidential election. Both Donald Trump and Kamala Harris will be forced to reckon with the crises in the final days of their campaigns. AdvertisementViolence in the Middle East, a massive labor strike among East Coast and Gulf Coast dockworkers, and the devastation of Hurricane Helene all struck with only five weeks before the 2024 presidential election. "What we've seen out of Vice President Harris is we've seen steady leadership," he said when talking about the Middle East. What matters most now is how the candidates' messaging lands with specific communities impacted by these crises, Loge said.

Persons: Hurricane Helene, Donald Trump, Kamala Harris, —, Israel, Peter Loge, David Jones, Trump, Joe Biden, Randall Adkins, Adkins, Loge, it's, Sen, JD Vance, Tim Walz, Vance, Harris, Walz, Biden, she's, BRYAN R, SMITH, Jones, Grace Cary, Helene Organizations: Service, East, School of Media, Public Affairs, George Washington University, Baruch College, City University of New, Trump, University of Nebraska, Gov, Logistics, JPMorgan, Getty, Biden Locations: Hurricane, East Coast, Gulf Coast, East, Middle, Iran, Israel, Lebanon, Tehran, City University of New York, University of Nebraska Omaha, American, Arizona, Georgia, Wisconsin, North Carolina, Michigan

☆ A trifecta of global crises could snarl supply chains and increase prices
▼ + stars: | 2024-10-03 | by ( Eliza Relman | ) www.businessinsider.com time to read: +9 min

The dockworkers' strike threatens supply chains, while Hurricane Helene caused costly damage. Devastation from Hurricane Helene, a dockworkers' strike, and escalating conflict in the Middle East all threaten to scramble supply chains and inflate prices. How much the strike impacts prices depends on how much of a cushion companies have built to deal with any bottlenecks. Bottlenecks also encourage carriers to raise their prices, increasing retail and consumer goods prices, Kent said. The hurricane has also disrupted some supply chains, including healthcare supplies and high-purity quartz needed for semiconductor manufacturing.

Persons: Helene, —, Israel ramped, Douglas Kent, Dockworkers, dockworkers, Morgan Stanley, Kent, Fazili, Lauren Saidel, Baker, she's, Biden, Hurricane Helene, Adam Kamins Organizations: Service, Association for Supply Chain Management, JPMorgan, National Economic, Biden, ITR, International Longshoremen's Association —, United States Maritime Alliance, Homeowners Locations: Israel, Iran, Hurricane, Lebanon, Maine, Texas, East Coast, Gulf, Kent, West Coast, North Carolina, Florida

☆ JPMorgan says this EV charging stock could surge nearly 80%
▼ + stars: | 2024-10-03 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

JPMorgan thinks EVgo's business model of both owning and operating its fast electric vehicle chargers can send the stock soaring. EVgo stock has climbed roughly 10% in 2024, but it's been a choppy ride higher. Electric vehicle-related stocks have been under pressure for most of the year thanks to dimming consumer demand for EVs. "Unlike hardware-software peers, EVgo's fast charging owner-operator model has been scaling well with higher utilization and charge rates in the current muted EV environment," Peterson said. LSEG data shows that, of the 12 analysts covering the stock, seven have a buy or strong buy rating, while the rest rate it as a hold.

Persons: it's, EVgo, Bill Peterson doesn't, Peterson Organizations: JPMorgan, EVs, Department

☆ How the port strike could actually boost Costco sales
▼ + stars: | 2024-10-03 | by ( Paulina Likos | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Club stock Nvidia jumped more than 3% — bucking the pressure on Big Tech. 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, Jensen Huang, Eli Lilly, Lilly, Oppenheimer, Jim Cramer's, Jim Organizations: CNBC, Wall, Nvidia, Big Tech, Blackwell, Broadcom, Devices, Food and Drug Administration, Costco, AMD Locations: New Jersey

☆ Stocks making the biggest moves premarket: Nvidia, Levi Strauss, EVgo and more
▼ + stars: | 2024-10-03 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

EVgo — Shares advanced more than 9% after JPMorgan upgraded the electric vehicle charging company to overweight . Levi Strauss — Shares plunged 12% after the denim maker trimmed its full-year revenue guidance and delivered fiscal third-quarter revenue that missed analysts' expectations. Constellation Brands — The beverage company rose slightly on the back of better-than-expected fiscal second-quarter earnings. Revenue of $2.92 billion, however, marginally missed expectations. Stellantis — The automaker was down more than 3% in the premarket after a Barclays downgrade to equal weight from overweight.

Persons: Mizuho, Jensen Huang, CNBC's, Blackwell, Eli Lilly, Bill Peterson, Levi Strauss —, Stellantis, Henning Cosman, — CNBC's Brian Evans, Lisa Han, Jesse Pound, Sean Conlon Organizations: Mizuho, Nvidia –, U.S . Food, Drug Administration, JPMorgan, Dockers, Constellation Brands, Barclays Locations: U.S

☆ From Walmart and Ikea to Heineken, here are the companies whose imports may be most impacted by the port strike
▼ + stars: | 2024-10-03 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

The port workers' strike could disrupt business for big retailers, according to ImportGenius data. Walmart, Ikea and Samsung are some of the biggest importers at ports affected, the data show. JPMorgan predicted the strike could cost the US up to $5 billion daily. AdvertisementMajor retailers are pivoting their shipping plans and preparing for the financial impact of the ongoing port strike. The chart doesn't include data from shipping companies that handle cargo from multiple businesses or anonymous shipments.

Persons: —, Alan Murphy, William George, General Motors, Jess Dankert, Dankert Organizations: Walmart, Ikea, Samsung, JPMorgan, Service, Intelligence, CNBC, Research, Arbor Research, Lading, Customs, Business, General, Home, Retail Industry, Association, International Longshoremen's Locations: Gulf Coast, ImportGenius, West, Maine, Texas

☆ Here's everything to expect when the September jobs report is released Friday
▼ + stars: | 2024-10-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

"The jobs market is slowing down and becoming less tight," said Katie Nixon, chief investment officer at Northern Trust Wealth Management. Then there are the monthly revisions that have been dramatic at times, causing the Labor Department to overcount hiring by more than 800,000 for the 12-month period through March 2024, adding uncertainty to jobs market analysis. The Bureau of Labor Statistics will release the report at 8:30 a.m. Looking for cluesStill, markets will in fact be watching the report closely. At the same meeting where they approved the reduction, policymakers indicated another half percentage point, or 50 basis points, in cuts before the end of 2024 and another full percentage point in 2025.

Persons: Angus Mordant, Nonfarm, Dow Jones, Katie Nixon, We've, there's, David Kelly, Helene —, JPMorgan's Kelly, Kelly Organizations: Bloomberg, Getty, Federal Reserve, Trust Wealth Management, Labor Department, Asset Management, Labor Statistics Locations: Albany, Latham , New York

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