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ET, the yield on the 10-year Treasury was down by less than one basis point to 3.7791%. The 2-year Treasury yield was last at 3.5653% after rising by over one basis point. U.S. Treasury yields were little changed on Thursday as investors looked to fresh economic data and remarks from Federal Reserve officials. Economists polled by Dow Jones are expecting weekly initial jobless claims to come in at 223,000 for the most recent period. Elsewhere, the Swiss National Bank on Thursday cut its key interest rate by a quarter point, marking the third reduction this year.
Persons: Dow Jones, Jerome Powell Organizations: Treasury, Federal Reserve, Swiss National Bank Locations: U.S
Appaloosa Management's David Tepper said investors should believe the Federal Reserve when it says it will lower interest rates because the central bank has now to keep credibility. "Probably two or three interest rates, 25 basis point cuts, they have to do, or they lose credibility," Tepper said. You know, another 25, 25, 25 seems like it's going to have to be done." The super-sized rate cut last week came despite most economic indicators looking fairly solid. "It was around the 90s in that market where the where the Fed cut rates into Y2K in a good economy," he said.
Persons: David Tepper, Tepper, " Powell, Jerome Powell, Rich, " Tepper Organizations: Federal Reserve, Gross, Atlanta Fed, U.S, National Football League's Carolina Panthers Locations: U.S, China
The report didn't blow us away, but it still offered plenty of reminders on why Costco investors should stick around. Total revenue in its fiscal 2024 fourth quarter totaled $79.7 billion, missing analysts' expectations of $79.97 billion, according to estimates compiled by LSEG. Costco has succeeded for decades, but the high inflation of recent years has made the company's value-focused ethos really shine. Put it all together, we're increasing our price target on the stock to $950 a share from $875. In the quarter, Costco's membership renewal rate in the U.S. and Canada came in at 92.9%, a tick lower than the 93% rate observed in the third fiscal quarter, while worldwide held constant at 90.5%.
Persons: Gary Millerchip, Ron Vachris, Millerchip, it's, Kirkland, Costco's, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Costco, LSEG, Wholesale, Walmart, Club, Amazon, Costco's, Kirkland, Kirkland Signature, Management, U.S, CNBC Locations: Costco's, Yemen, U.S, Canada, Maine, Richmond , California
BI broke down the pros, cons, and frequently asked questions about basic income. Universal basic income and guaranteed basic income could fill gaps in the existing US social safety net, experts said. A benefit of basic income is the element of choice, according to Shafeka Hashash, associate director of guaranteed income at the Economic Security Project. Private donors often fully or partially fund basic income programs, lessening the cost burden on local governments. US states with active basic income programs include California, Illinois, Colorado, New York, Georgia, Louisiana, and more.
Persons: , Melvin Carter, Paul, Shafeka Hashash, Hashash, It's, John Gillette, Oscar Wong, UBI, Andrew Yang, Howlette, hasn't, Michael Tubbs, Allan Baxter, What's, Sam Altman, Elon Musk Organizations: Service, Business, St, SDI, SNAP, Economic Security, Arizona, Rep, American, Orleans Mayor's, Youth, University of British Columbia, Alaska Permanent Fund, Tech Locations: Valley, America, Los Angeles and Illinois, Texas, Missouri, Arizona , Iowa, South Dakota, Orleans, Denver, Atlanta, Alaska, California , Illinois, Colorado , New York , Georgia, Louisiana, Canada, Brazil, China, Germany, India, Iran, Ireland, California, New Mexico, Oregon
The paper represents the most comprehensive analysis to date on the combined impact of Trump’s trade, immigration and Fed proposals. In that scenario, employment would be 9% lower than baseline by 2028 and inflation would surge to 9.3% by 2026. “So-called economists and experts doubted President Trump’s economic plans in his first term. That means the same factory workers Trump says he is trying to help would be hurt the most. Fed Chair Jerome Powell, who was nominated by Trump in 2017, cautioned against any effort to interfere with Fed independence.
Persons: Donald Trump, Trump, , Warwick McKibbin, Megan Hogan, Marcus Noland, they’ll, ” Karoline Leavitt, Trump’s, Kamala Harris, Harris, ” Trump, McKibbin, Mark Zandi, , Jerome Powell, ” Powell, We’re Organizations: CNN, Republican, Federal Reserve, Peterson Institute for International Economics, Peterson Institute, Trump, Security, , Peterson, Moody’s, Bloomberg Locations: United States, China, America, Georgia, Michigan, outflows
Rithm Capital – The real estate investing stock more than 4% after announcing a secondary offering of 30 million shares. Hewlett Packard Enterprise – The technology stock added almost 3% on the back of a Barclays upgrade to overweight from equal weight. General Motors , Ford Motor – The auto stocks fell following downgrades from Morgan Stanley's Adam Jonas due to rising China competition and a weakening U.S. consumer. The analyst downgraded Ford Motor to equal weight from overweight, while General Motors was lowered to underweight from equal weight. Shares of General Motors and Ford fell roughly 3% and 2%, respectively.
Persons: FactSet, Bilibili –, Rithm, Hewlett Packard, Morgan Stanley's Adam Jonas, , Alex Harring, Sarah Min, Lisa Kailai Han Organizations: JPMorgan, Hewlett Packard Enterprise, Barclays, Hewlett, Worthington Enterprises, General Motors, Ford, Ford Motor, General Locations: China's, U.S, China
Markets: The S & P 500 has slipped into the red since the Morning Meeting. By the way, since the Sept. 6 close, the S & P 500 jumped nearly 6%, closing at a record 5,732 on Tuesday. 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, Meta, Dana her, it's, oversold, Mark Zuckerberg, Zuckerberg, Thursday's, Jim Cramer's, Jim Organizations: CNBC, ., Nasdaq, Nvidia, Meta, Microsoft, West Texas, Apple, Micron, Jefferies, Accenture, CarMax, Costco, Jim Cramer's Charitable Locations: China, Menlo Park , California
Top 10 things to watch Wednesday, Sept. 25 — Today's newsletter was written by the Investing Club's director of portfolio analysis, Jeff Marks. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. 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: Jeff Marks, Morgan Stanley's, Adam Jonas, Jonas, Tyson Food, Piper Sander, KeyBanc, they've, Wells, Baker Hughes, Halliburton, SLB, Baird, Gabrielle Fonrouge, Expedia, Cowen, Oppenheimer, Jim Cramer's, Jim Cramer, Jim Organizations: Club, Nvidia, Micron, U.S, Ford, General Motors, Hewlett Packard Enterprise, Barclays, Juniper Networks, Micro, Dell Technologies, Union Pacific, Department, Google, Jim's, Jim Cramer's Charitable, CNBC Locations: U.S, China
Check out the companies making headlines in midday trading: Flutter Entertainment — The sports betting stock rose more than 6% after the FanDuel parent announced a share buyback program of up to $5 billion. Hewlett Packard Enterprise — The tech stock jumped more than 5% after Barclays upgraded the firm to overweight from equal weight. KB Home reported $2.04 in earnings per share, or 2 cents short of consensus estimates, according to analysts surveyed by LSEG. Analysts had expected $1.14 in earnings per share on revenue of $176.2 million, according to FactSet. The workplace uniform company sees revenue of $10.22 billion to $10.32 billion for fiscal 2025, compared to its prior guidance of $10.16 billion to $10.31 billion.
Persons: HPE, Morgan Stanley downgrades, Adam Jonas, Ford, Bilibili, Warren Buffett's Berkshire Hathaway, Cintas, — CNBC's Sean Conlon, Yun Li, Alex Harring, Hakyung Kim, Lisa Han, Pia Singh Organizations: Hewlett Packard Enterprise, Barclays, Juniper Networks, General Motors, Ford —, JPMorgan, . Bank of America, LSEG, Trump Media & Technology Locations: Bilibili —
The 2-year Treasury yield was last at 3.533% after rising by just over one basis point. U.S. Treasury yields were slightly higher on Wednesday as investors weighed economic data and considered the state of the economy. Economic data points will therefore be watched closely in the coming days and weeks as concerns about a potential slowdown of the economy linger. Later this week, investors will also hear from various Fed officials including Chairman Jerome Powell. At the end of the week, key economic data in form of the latest personal consumption expenditures price index is also set to be published.
Persons: Dow Jones, Jerome Powell Organizations: Treasury, Federal Reserve, PCE Locations: U.S
Micron Technology shares surged roughly 14% in after-hours trading after the memory maker forecast higher-than-expected first-quarter revenue due to the thirst for its memory chips used in artificial intelligence computing. HBM is a space-saving, power-efficient type of dynamic random access memory chip, or DRAM, crucial for AI-focused graphics processing units, that aid in processing vast amounts of data. "Demand from data center customers continues to be strong and customer inventory levels are healthy," Micron CEO Sanjay Mehrotra said on a conference call with analysts. The AI boom has also helped Micron cushion the hit from a memory chip inventory glut in PC and smartphone markets. Personal computers infused with AI technologies are expected to have more memory chips, helping firms such as Micron.
Persons: Sanjay Mehrotra, Wall, Kinngai Chan, Sumit Sadana Organizations: Micron Technology, Micron, South Korea's SK Hynix, Samsung, Nvidia Locations: U.S
Secret Service advance agents did not request a surveillance team, which could have helped patrol the rally for approximately 15,000 attendees. The lead advance agent for the Secret Service could not even answer the committee when asked who secured the building. Other security requests deniedTrump’s Secret Service security detail requested Counter Assault Team liaisons ahead of the July 13 rally but were denied. The liaison would provide specialized tactical advice to other Secret Service agents and law enforcement on the ground. The lead advance agent also told the committee she requested 13 magnetometers from Secret Service, but only received 10.
Persons: Donald Trump, Thomas Matthew Crooks, Trump, Jill Biden, , ” Sen, Richard Blumenthal, Abbott, Costello, ‘ who’s, ” Nobody, Butler, , , Crooks, wasn’t, “ It’s, Sen, Rand Paul, whoever’s, ” Paul, ” Blumenthal, Kimberly Cheatle, “ I’m, there’ll, what’s Organizations: CNN, Secret, Secret Service, Service, Connecticut Democrat, Trump, Agents, Emergency Services Unit, Emergency, Unit, US Secret Service, Butler, FBI, SAIC, Trump’s, Kentucky Republican, Capitol Locations: Butler , Pennsylvania, Connecticut, Pittsburgh, Butler, Iran, Kentucky
Futures tied to the Dow Jones Industrial Average were little changed on Wednesday night after the index broke a four-day win streak. Dow futures slipped 16 points, or 0.04%. S&P 500 futures rose 0.1%. The semiconductor manufacturer was trading 14% higher in Wednesday's extended trading session after issuing strong guidance for the current quarter. In regular trading, both the S&P 500 and the Dow retreated from their records to close lower.
Persons: Dow, Tom Lee, Dow Jones, Jerome Powell, John Williams Organizations: New York Stock Exchange, Futures, Dow Jones, Dow, Nasdaq, Micron Technology, Lam Research, Fundstrat Global Advisors, Federal Reserve, New York Fed, CarMax, Accenture, Costco Wholesale
What’s in Our Queue? Chucho Valdés and More
  + stars: | 2024-09-25 | by ( Jenny Gross | ) www.nytimes.com   time to read: 1 min
What’s in Our Queue? Chucho Valdés and MoreI’m on assignment in Brussels, where I’m covering the European Union. I’m usually reading several books at the same time, and lately, as I get to know the city, I’ve been exploring restaurants, cafes and museums. Here are five things I’ve been listening to, watching and discovering →
Persons: Valdés, I’ve, Organizations: European Union Locations: Brussels
"We just gutted our product and rebuilt it using generative AI." 'The rules of physics have changed'Even before its sabbatical, Klarity was well-versed in natural language processing and computer vision. Nadhamuni gave a talk on generative AI, its history, and the latest breakthroughs in the technology. If the new tech could do those five things, they would rebuild the core of Klarity's platform using generative AI. Nadhamuni also wrote a playbook on how to run a generative AI sabbatical that's available on Tola Capital's blog.
Persons: , Nat Friedman, Daniel Gross, Nischal Nadhamuni, Nadhamuni, Klarity, Friedman, Gross, Aaron Fleishman, Fleishman, OpenAI, Miro, Tola Organizations: Service, Business, MIT, Venture Partners, Tola, Picus, Invus, Engineers
Here are the stocks making notable moves in extended trading on Tuesday: KB Home — The homebuilder fell 6% after fiscal third-quarter earnings missed expectations. KB Home reported $2.04 in earnings per share, slightly below the $2.06 per share expected by analysts, according to LSEG. Rithm Capital — Shares of the asset manager fell 2% after Rithm announced a plan to sell 30 million shares. Progress reported adjusted earnings of $1.26 per share on $178.7 million of revenue. Analysts surveyed by FactSet were looking for $1.14 in earnings per share on $176.2 million of revenue.
Persons: Rithm Organizations: Rithm
Demi Moore gives the wildest performance of her career in French filmmaker Coralie Fargeat's provocative new movie "The Substance." "The Substance" centers on Elisabeth Sparkle (Moore), a former A-lister whose career is on the decline. They can't survive separately because with Elisabeth dead, there's no more stabilizer fluid, and without stabilizer fluid, Sue can't continue to exist. So Sue's body (while she's en route to the big New Year's Eve performance) starts deteriorating: her teeth begin coming out, and a nail pops off. The monster rips down a photo of Elisabeth's younger face and tapes it on, then dolls itself up with carefully placed earrings and some makeup.
Persons: Demi Moore, Coralie, Palme, Fargeat, Moore, , Elisabeth Sparkle, lister, Elisabeth, she's, Harvey, Dennis Quaid, who's, convulses, Margaret Qualley, double's, Sue, Sue doesn't, specter, it's, Christine Tamalet, Elisabeth isn't, Sue wakes, Sue can't, regurgitates Organizations: Service, Cannes Film, Business, Hollywood Locations: Hollywood
Yields and prices move in opposite directions. One basis point is equivalent to 0.01%. The 10-year Treasury yield was up just over a basis point at 3.745% at 3:41 a.m. U.S. Treasury yields were slightly higher early Monday as investors assessed the growth outlook following the Federal Reserve's jumbo rate cut last week. The 10-year Treasury yield ended last week almost 8 basis points higher after the Fed lowered rates by half a percentage point on Wednesday.
Persons: Jerome Powell, Raphael Bostic, Neel Kashkari, Austan Goolsbee, Adriana Kugler Organizations: U.S, Treasury, Federal Locations: U.S
Amazon , Meta Platforms and Apple are eating away at Microsoft's once-sizable lead in the heated artificial intelligence arms race, according to D.A. Early investments in ChatGPT creator OpenAI gave Microsoft the first-mover advantage in the AI race. Davidson analysts praised Amazon, Meta, and Apple as their top three. AMZN YTD mountain Amazon YTD In particular, D.A. META YTD mountain Meta Platforms YTD As for Meta, the Club sees potential in how AI helps boost user engagement with its chatbot baked into Facebook, WhatsApp and Instagram.
Persons: Davidson, Jim Cramer, Jim, it's, Gross, OpenAI, Copilot, That's, D.A, Mike Sievert, Jim Cramer's, Adam Gray Organizations: Microsoft, Big Tech, D.A, Apple, Club, Services, AWS, Amazon, Meta, Facebook, Mobile, Apple Intelligence, CNBC, Getty Locations: Microsoft's, Redmond, Washington, D.A, San Francisco, New York City
The White House wants to close a trade loophole exploited by Chinese discount e-retailers — a move that would have a ripple effect on at least two of our portfolio stocks: Amazon and Meta Platforms. The de minimis exemption has allowed Chinese e-commerce giants, particularly low-cost Temu and Shein, to flourish. Temu has risen in popularity in the U.S. for selling items directly from Chinese merchants at massive discounts. Temu is generally seen as a growing competitor to Amazon since its prices are often lower. Meta challenges On the other hand, the trade shift could present a challenge for Meta, which relies on advertising from e-commerce platforms.
Persons: Harris, hocking, Temu, it's, Jeff Marks, Shein, Meta, Jim Cramer's, Jim Cramer, Jim Organizations: Biden, Harris Administration, Amazon, Deutsche Bank, Deutsche Bank analysts, JPMorgan, Services, Meta, Management, CNBC, Getty Locations: U.S, China, Temu
Snowflake — Shares of the data cloud company fell 3% after Snowflake announced a proposed private placement of $2 billion of convertible senior notes . In the first fiscal quarter, AAR reported adjusted earnings of 85 cents per share, up 9% from the year-ago period. Revenue came in at $661.7 million , up 20% from the prior year. GameStop — Shares advanced nearly 1% after the company completed its " at-the-market" equity offering program of 20 million shares for aggregate gross proceeds of around $400 million. GameStop had previously disclosed the ATM program earlier this month.
Persons: Snowflake, Donald Trump, , Nick Wells Organizations: AAR, Revenue, GameStop, Deere Locations: Mexico
Mainly a print model, Zheng used to rake in 30,000 yuan ($4,230) a month when she began working two years ago. Some are virtually indistinguishable from the real thing, while others are inspired by the original design and offer morecolors or textures. The popularity of this product category is soaring as consumer confidence in China nears a historic low, according to analysts. Shoppers are sitting on the sidelines due to a combination of falling stock prices, capital flight and “tepid” wage growth, the economists said. A Hong Kong court ordered the liquidation of the Chinese property giant on on January 29.
Persons: Zheng Jiewen, Zheng, , , Louis Vuitton, Chanel, Laurel Gu, Lulu, dupes isn’t, Nomura, Xinxin, Greg Baker, Nicole Hal, “ I’ve, Goldman Sachs Organizations: Hong Kong CNN, CNN, Prada, Reuters, Shoppers, Barclays, Hong, Getty, Goldman Locations: China, Hong Kong, Guangzhou, Shanghai, Asia, Japan, Chongqing, Beijing, AFP, Europe,
"We are initiating coverage of enterprise planning and 'Office of the CFO' software provider OneStream (OS) with an Outperform rating and $38 target price." Deutsche Bank initiates Pinterest at buy Deutsche called Pinterest an "under-monetized, scaled, increasingly personalized 'digital catalog' that attracts an affluent, high purchase-intent user base." "We initiate coverage of Pinterest, Inc. with a Buy Rating and a $43 Price Target." "We initiate coverage on FLUT with a Buy Rating and $270 PT." JPMorgan adds Nike to negative catalyst watch list The bank is sticking with its neutral rating but is negative heading into earnings on October 1 for Nike.
Persons: Bernstein, it's bullish, Morgan Stanley, Piper Sandler, Piper, TD Cowen downgrades, Cowen, Goldman Sachs, Goldman, Raymond James downgrades Palantir, Raymond James, Dr Pepper, Wells, Tesla, it's, bullish, Coreweave, Davidson, Needham, Truist Organizations: Nvidia, Citi, Meta, Facebook, Apple, BMO, Bank of America, underperform Bank of America, Holding AG, Citigroup, Deutsche Bank, Deutsche, Barclays, Bank, New York Mellon, Bank of New York Mellon, Motors, Microsoft, Needham, JPMorgan, Nike, Technology Locations: North America
The NYPD on Friday released body-worn camera footage from a weekend shooting at a Brooklyn subway station that started as a confrontation between police and an apparent fare-beater who they have said charged at officers with a knife. According to police and surveillance video from the station, Mickles jumped a turnstile at the subway station just after 3 p.m. Sunday, right in front of two officers. When a train pulls into the station, Mickles backs onto it once the doors open. All shots were fired by NYPD officers, authorities have said. “There was no need for any bullets to fly in the subway station, especially in a setting where the officers put innocent bystanders at risk.
Persons: Gregory Delpeche, Mickles, Jonathan Fink, , Fink, , , Bystander’s, Nick Liakas, Gregory, ” Liakas, Derell Mickles “, Tasers, Thomas Donlon, John Chell, Loyda Colon, Chris Banks, Eric Adams, ” Adams, Mickles “ Organizations: Woodhull Hospital, NYPD, ” Police, Communities United, Police Reform, New, York City, “ Police Locations: Brooklyn, Brownsville, New York City, York
For decades, Sean “Diddy” Combs presented the image of a wealthy, Black music mogul, one who broke business barriers, threw lavish parties and even created iconic TV moments. But behind the scenes, prosecutors say, was a more sinister picture, with allegations of violence, sex trafficking and severe abuses of power. Sean "Diddy" Combs during a photo shoot to promote a Sean John fragrance in 2016. Casandra Ventura and Sean "Diddy" Combs attend the the Met Gala in New York City on May 7, 2018. Designer Donna Karan, musician Tommy Lee, singer Mariah Carey, host Sean "Diddy" Combs, Star Jones and rapper Reverend Run at "The Real White Party" presented by Combs at his East Hampton, N.Y., estate on Sept. 2, 2007.
Persons: Sean “ Diddy ” Combs, Combs, Tupac, Al Yankovich, Jennifer Lopez, Versace, , Sean, Diddy, Sean John, Damian Williams, ” Fatima Goss Graves, ” “ Combs, , Goss Graves, ” Combs, Casandra, Cassie ” Ventura, Ventura, Dawn Richard, Rodney “, Rod ” Jones, Derrick Lee Cardello, Smith, Casandra Ventura, John Shearer, Oronike Odeleye, Kelly, Odeleye, ’ ” Odeleye, Combs ’, Craig Mack, Faith Evans, ” Richard, Nate Dogg, Snoop Dogg, Sean Combs, Forbes, Laurieann Gibson, , Paris Hilton, Leonardo DiCaprio, Mariah Carey, Jay, Oprah, ” Carson, Carson, Black, Donna Karan, Tommy Lee, Star Jones, Bryan Bedder, he’s, Mase, Aubrey O’Day, Danity Kane, O’Day, I’ve Organizations: Bad Boy Records, Penske Media, Getty, U.S, Metropolitan Detention, National Women’s Law, Legal Defense Fund, Hollywood, , Uptown Records, Bad Boy Entertainment, MTV, University of Virginia, Labor, Paris, White Party, White, Bad, TMZ Locations: New York, Michigan, New York City, Carson, East Hampton, N.Y
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