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☆ The S&P 500 will extend its stellar rally, hitting a new record high before 2023 is over, Carson Group's top strategist says
▼ + stars: | 2023-06-16 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

The S&P 500 has climbed 15% in 2023, powered higher by Big Tech stocks. The index is likely to hit a new all-time high before the end of the year, Carson Group's top strategist said Thursday. "We still think there's a lot left in the tank here," Ryan Detrick told CNBC. "We've been overweight equities at Carson Investment Research since late December," Detrick told CNBC's "Closing Bell". The S&P 500 hit its record high in January 2022, reaching just under 4,800 points.

Persons: Carson Group's, Ryan Detrick, —, Carson, Tesla, We've, Detrick, CNBC's, – Organizations: Big Tech, CNBC, Service, Meta, Nvidia, Carson Investment Research, Reserve, Fed

☆ Retailers are preparing for a discount heavy, down holiday season: CNBC survey
▼ + stars: | 2023-06-16 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Many retailers are still drawing down inventories now as peak season for orders begins. Based on the concerns about cutbacks by consumers, 77% of all items being ordered this holiday season are middle-price point items, including jackets. Traditionally, retail sector orders for peak season items are placed in late winter, or early spring. Trucking, ground, rail profit hits For ground logistical firms, rail companies, and short-haul trucking, moving holiday products during peak season is a lucrative and critical time of year for making money. The largest subgroup of survey respondents who predict placing higher freight orders (42%) pegged the increase in a range of 6%-10%.

Persons: Patrick T, Cleary, Stephen Lamar, Jon Gold Organizations: Fallon, Bloomberg, Getty, CNBC Supply Chain Survey, Target, Walmart, CNBC, American Apparel & Footwear Association, American Footwear and Apparel Association, National Retail Federation, Council of Supply Chain Management, United National Consumer Suppliers, CNBC Fed Survey, Wall Street, Survey, Retailers, Chain, Labor Locations: West Coast, West

☆ 12-year-old graduated from college with a 4.0 GPA—here’s why her parents are sending her to high school
▼ + stars: | 2023-06-15 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Fiona Currie enrolled in her first college class at age 9 as an experiment. Her parents, Roderick and Blanca, had watched their eldest daughter breeze through three different public school curricula in California, skipping grades to feel challenged by schoolwork. With few other options, they took a chance with an English class at Los Angeles City College. Through a dual-enrollment program, she earned college credits while completing her middle school classes. After completing college-level classes in math, art, anthropology and more, why would a student finish high school with everyone else?

Persons: Fiona Currie, Roderick, Blanca, Fiona aced, Fiona, Mozart, It's, you've Organizations: Los, Los Angeles City, Los Angeles City College, CNBC Locations: Los Angeles, California, Blanca

☆ US Open: How to watch first golf major since shock PGA Tour and LIV Golf partnership
▼ + stars: | 2023-06-15 | by ( Jack Bantock | ) edition.cnn.com time to read: +6 min

It’s also the first major since the golfing world was rocked by the announcement of a partnership between the PGA Tour, DP World Tour, and LIV Golf earlier this month. 2 Jon Rahm spoke of the “betrayal” felt by PGA Tour players following the “bombshell” announcement, expressing his discomfort at the perceived lack of clarity and unanswered questions surrounding the deal. However, one of the partnership’s primary architects, PGA Tour commissioner Jay Monahan, was not on site to respond as he recuperates from a medical situation. Monahan has been relieved of day-to-day duties while he recovers, the PGA Tour announced Tuesday. After a second PGA Tour victory at the RBC Heritage in April earlier this year, the world No.

Persons: CNN —, It’s, LIV, Jon Rahm, ”, Jay Monahan, Monahan, Matt Fitzpatrick, Brooks Koepka, Scottie Scheffler, Will Zalatoris, Koepka, Rahm, Rory McIlroy, Tiger Woods, Matt York, Fitzpatrick, Warren Little, ” Fitzpatrick, I’ve, Norway’s Viktor Hovland, Wanamaker, “ There’s, Harry, Jack Nicklaus, Walter Hagen, “ Organizations: CNN, 123rd, Los Angeles Country Club, PGA, USA Network, NBC, Sky Sports, Sheffield, RBC Heritage, Getty, North, Championship Locations: California, Massachusetts, New York, Brookline, Los Angeles, North America

☆ The stock market's fear gauge just hit its lowest level in 3 years as a new bull market kicks off
▼ + stars: | 2023-06-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Wall Street's fear gauge fell to its lowest level in 3 years just as a new bull market hits stocks. The decline in the VIX suggests that the stock market has entered a regime of low volatility following the bear market of 2022. A new bull market starts when an index surges 20% from the lowest close of its bear market. The Nasdaq 100 already entered its bull market at the end of March. "We wouldn't be surprised at all if this new bull market would continue much longer than most think and the VIX will also stay consistently beneath 20.

Persons: Carson Group's Ryan Detrick, —, Nicholas Colas, Colas, Carson Group's, Ryan Detrick, Detrick, Katie Stockton doesn't, we've, Stockton Organizations: Service, Nasdaq, DataTrek Research

☆ The Death of Passwords Is Coming, a New Technology Will Replace Them
▼ + stars: | 2023-06-05 | by ( Shubham Agarwal | ) www.businessinsider.com time to read: +14 min

Despite their ease of use, passwords come with significant downsides: More than 80% of data breaches are the result of weak passwords. In 2004, Bill Gates famously envisioned the death of traditional passwords, and there have been several attempts to replace them. That's great if all of your devices are from one company — your Apple passkey would work across an iPhone, iPad, and MacBook. "Similar to our recommendations when it comes to other forms of authentication, we advise against the sharing of passkeys, passwords, etc. Passwords won't disappear overnight, but what FIDO Alliance has accomplished has convinced me our passwordless future is just around the corner.

Persons: it's, I'm, Zhao, There's, Christiaan Brand, Bill Gates, FIDO, Steve Won, Florentin, passkeys, Andrew Shikiar, Won, Google's Brand, 1Password, Buffalo's Zhao, Shubham Agarwal Organizations: Microsoft, Cybersecurity Ventures, Apple, Google, Alliance, University at Buffalo, University of Cambridge, Mastercard, TU Darmstadt, FIDO Alliance, Bluetooth, Research, Istanbul Technical University, University, Buffalo's, Wired, Company Locations: Germany, Ahmedabad, India

☆ More people are picking up takeout orders themselves to save money and dodge high Uber Eats and DoorDash delivery fees
▼ + stars: | 2023-06-04 | by ( Grace Dean | ) www.businessinsider.com time to read: +6 min

More customers are opting to pick up their orders from restaurants to avoid high delivery fees. Online orders account for nearly half of Dickey's sales, and she said third-party delivery orders as a proportion of these were down by 6.8% over the past year. Free delivery directly from the Dickey's website now made up 6% of sales, up by a fifth over the past year, Dickey added. To get the same thing delivered via Pizzeria Uno's website, which outsources it to DoorDash, the total is $22.98, including a $7.75 delivery fee. Prices for a cheese and tomato pizza on Pizzeria Uno's site for delivery via Doordash, Grubhub, and for collection.

Persons: DoorDash, Uber, —, Erik Frederick, –, I'm, Laura Rea Dickey, Dickey, Steve Heeley, Chris Kempczinski, Uno's Frederick, We've, Kempczinski, Gunther Plosch Organizations: Uno, Service, US Bureau of Labor Statistics Locations: Dickey's, Revere , Massachusetts, Arizona , Colorado , Indiana, Texas

☆ Here's our first-quarter earnings report card for every stock in the portfolio
▼ + stars: | 2023-06-02 | by ( Zev Fima | ) www.cnbc.com time to read: +17 min

As a result, about 78% of S & P 500 companies reported better-than-expected earnings results, according to FactSet. Though sales came up short of expectations, earnings, operating margin, and return on capital all notched new record highs in a tough economy. We also saw strong sales of key drug Mounjaro along with positive updates for its potential as a weight loss medication. GE Healthcare (GEHC) reported solid results with its first-quarter earnings release as sales and earnings outpaced expectations. Despite the top-line miss, TJX Companies (TJX) delivered better-than-expected earnings as management demonstrated the ability to diligently control expenses.

Persons: Emerson, Eli Lilly, Strong, Humana, Johnson, Morgan Stanley, Wells Fargo, Wells, Estee Lauder, Locker, Jim Cramer's, Jim Cramer, Jim, Hsun Huang, Patrick T Organizations: Club, Halliburton, HAL, Linde, LIN, Microsoft, Nvidia, Palo Alto Networks, billings, Procter & Gamble, Devices, Caterpillar, Costco, Coterra Energy, Management, GE Healthcare, Honeywell, Johnson, Wynn Resorts, WYNN, Valley Bank . Disney, Natural Resources, Constellation Brands, TJX Companies, Bausch Health, Nike, Jim Cramer's Charitable, CNBC, Nvidia Corp, Mobile, Fallon, Bloomberg, Getty Locations: Washington, North America, United States, Wells, Macau, Asia, Los Angeles , California

☆ A step-by-step guide on how to create and monetize an e-book in as little as one weekend
▼ + stars: | 2023-06-01 | by ( Corrie Alexander | ) www.businessinsider.com time to read: +12 min

Alexander says that with the right tools you can create a book in as little as a weekend. Canva has a ton of free book cover templates that you can use as a springboard for your own design. To create your e-book, I would recommend one of two options:Canva: The first option is to create your e-book within Canva. However, there is still a lot of work you'll need to do to get the e-book ready. For instance, you'll need to manually add in your table of contents, page numbers, and any other visual elements.

Persons: Corrie Alexander, Alexander, —, caan, Jasper, Jasper Jumpstart, You'll, Grammarly, Speechify, Canva, Jasper Art, you've, It's, you'll Organizations: Service, Google, PayPal, YouTube Locations: Jasper, Canva

☆ We're encouraged by positive developments around two stocks that we really like
▼ + stars: | 2023-06-01 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Stick with Salesforce Club holding Salesforce (CRM) delivered strong numbers for its fiscal 2024 first quarter. 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, Patrick Harker, Philip Jefferson, Jim, Marc Benioff, Bill Newlands, Bernstein, Newlands, Bud, Jim Cramer's Organizations: CNBC, Constellation Brands, Senate, Investors, Federal, Philadelphia Fed, Salesforce Club, Revenue, Constellation Brands Constellation Brands, Bank of America, Constellation Locations: California

☆ The world's richest man's plan to build a luxury hotel on LA's most famous shopping street was torpedoed after residents voted against it
▼ + stars: | 2023-05-30 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

Beverly Hills residents voted against Bernard Arnault's plan to build a luxury hotel on Rodeo Drive. Plans for the Rodeo Drive hotel included 115 rooms with a ninth-story penthouse, private club, spa, shops, and three restaurants. A "Yes on B and C" campaign sign is displayed at the site of the proposed Cheval Blanc Hotel on Rodeo Drive. Rodeo Drive is already home to a number of Arnault's businesses, including a Dior store. Other luxury fashion brands including Prada, Gucci, Yves San Laurent, and Valentino also have stores on Rodeo Drive.

☆ Nvidia's ascent continues unabated, while Citi says buy J&J
▼ + stars: | 2023-05-30 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

Optimism for J & J, Kenvue The news : Investors should buy shares of Johnson & Johnson for its "world-leading medical technology and pharmaceutical franchises," Citigroup analysts wrote in a research note Tuesday. The firm, after a period of restriction, resumed its J & J coverage with a buy rating and $185-per-share price target. Jim said Tuesday he could see J & J jumping to around $170 per share, if plaintiffs were to approve the company's proposed settlement . J & J has long rejected plaintiffs' claims that its baby powder and other talc products caused cancer. In any case, we like Kevnue as a standalone company and will keep a close eye on its performance as we await more information from J & J management on finalizing the divestiture.

Organizations: & $

[1/3] Nvidia Corp CEO Jensen Huang speaks at the COMPUTEX forum in Taipei, Taiwan May 29, 2023. Under the agreement, announced at the Computex technology trade show in Taipei, MediaTek will integrate an Nvidia graphic processing unit chiplet and Nvidia software into the system-on-chips it supplies to automakers for infotainment displays. MediaTek systems using Nvidia software would be compatible with automated driving systems based on Nvidia technology, the companies said. The partnership with MediaTek gives Nvidia wider access to the $12 billion market for infotainment system-on-chips, the companies said. MediaTek, which has its base in the Android smartphone chip sector, sells its Dimensity Auto technology to lower-priced, mass market vehicle lines, and has strengths in mobile connectivity and Android systems.

President Biden and Speaker Kevin McCarthy spoke by telephone on Saturday evening as White House and congressional Republicans worked feverishly to cement a deal to raise the nation’s debt ceiling and avert a fiscal crisis. The call took place after Representative Patrick T. McHenry, Republican of North Carolina and one of the lead negotiators, told reporters on Capitol Hill earlier Saturday that the parties were either “hours or days” away from an agreement. Two people close to the talks who insisted on anonymity to discuss the state of play said the conversation between Mr. Biden and Mr. McCarthy — who have not spoken directly since they met at the White House six days ago — would determine whether a final agreement could be reached later Saturday or negotiations would have to continue. “Big, thorny issues remain — some that the president and the speaker have to resolve at that level,” said Mr. McHenry, who has been involved in negotiations for 11 days.

☆ The tech trade is back, driven by A.I. craze and prospect of a less aggressive Fed
▼ + stars: | 2023-05-26 | by ( Ari Levy | ) www.cnbc.com time to read: +5 min

Patrick T. Fallon | Bloomberg | Getty Imageswatch nowTo start the year, the main theme in tech was layoffs and cost cuts. But investors have shifted their focus to AI now that companies are showcasing real-world applications of the long-hyped technology. Google, meanwhile, is touting its rival AI model at every opportunity, and Meta CEO Mark Zuckerberg would much rather tell shareholders about his company's AI advancements than the company's money-bleeding metaverse efforts. The chipmaker, known best for its graphics processing units (GPUs) that power advanced video games, is riding the AI wave. The next three top gainers in the index are also tech companies: Meta, Advanced Micro Devices and Salesforce .

☆ Walmart will offer pet telehealth in latest bid to compete with Amazon
▼ + stars: | 2023-05-22 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +6 min

Patrick T. Fallon | Bloomberg | Getty ImagesWalmart is jumping into the burgeoning pet telehealth market. Unlimited access to veterinary telehealth via video or text will be available to Walmart+ subscribers beginning on Tuesday, when Walmart is expected to announce the partnership publicly. Walmart's expansion into pet telehealth signals the largest U.S. retailer is ready to grow its share of the market. Traditional pet-only retailers like Chewy and Petco have already been investing in pet health care to better compete with big-box stores. Others have argued pet telehealth helps bridge the access to care as pet owners contend with a nationwide veterinary shortage and swaths of pet health deserts across rural America.

☆ A Lego Crime, a YouTube Rivalry, and the End of a Star Wars Friendship
▼ + stars: | 2023-05-21 | by ( David Kushner | ) www.businessinsider.com time to read: +30 min

Those who are into Lego Star Wars are among the most popular. It was at an informal contest where Louis met Victor, a fellow Lego Star Wars fanatic. Soon they ranked among the most popular Lego Star Wars YouTubers in France, known for the size and scope of their MOCs. The two friends no longer fit with that satisfying click that comes from snapping together two Lego bricks. Though it must have taken a truck to haul away all of Louis' Lego, no neighbor reported seeing anything suspicious.

☆ Opinion: A boast that could sink Trump
▼ + stars: | 2023-05-21 | by ( Richard Galant | ) edition.cnn.com time to read: +20 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. CNN —“I’m the one that got rid of Roe v. Wade,” former President Donald Trump boasted Tuesday on Newsmax. Congress has the power to rein in the court, wrote CNN legal analyst and law professor Steve Vladeck, whose new book “The Shadow Docket” focuses on the Supreme Court. Courtesy Boaz FreundIn 2019, then-President Trump issued an executive order requiring hospitals to post the prices of common medical services and procedures. For some, its celebration of a multiracial but purely fictional British aristocracy may even be a big part of its appeal.”As escapism, “Queen Charlotte” is a success.

☆ FBI broke rules in scouring foreign intelligence on Jan. 6 riot, racial justice protests, court says
▼ + stars: | 2023-05-19 | by ( ) www.cnbc.com time to read: +6 min

FBI officials repeatedly violated their own standards when they searched a vast repository of foreign intelligence for information related to the Jan. 6, 2021, insurrection at the U.S. Capitol and racial justice protests in 2020, according to a heavily blacked-out court order released Friday. The violations were detailed in a secret court order issued last year by the Foreign Intelligence Surveillance Court, which has legal oversight of the U.S. government's spy powers. At issue are improper queries of foreign intelligence information collected under Section 702 of the Foreign Intelligence Surveillance Act, which enables the government to gather the communications of targeted foreigners outside the U.S. That program expires at the end of the year unless it is renewed. FBI searches must have a foreign intelligence purpose or be aimed at finding evidence of a crime. The order says the FBI had maintained that the queries were likely to return foreign intelligence, though the reasons given for that assessment are mostly redacted.

☆ Here's why Jim Cramer is sticking with Foot Locker despite terrible quarter and big stock drop
▼ + stars: | 2023-05-19 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

Club holding Foot Locker (FL) reported disappointing fiscal 2023 first-quarter results and guidance before the opening bell Friday. Foot Locker, which announced the Eastbay closure in December, will concentrate on its namesake and Champs stores. Unfortunately, the rebound from these headwinds has also proven weaker than management previously expected. When starting a position in Foot Locker in March, we knew the company would not be fixed quickly. Shoppers and pedestrians pass in front of a Foot Locker store on the Third Street Promenade in Santa Monica, California.

☆ Death of Ownership: Companies Use Software, Subscriptions to Grab Money From Customers
▼ + stars: | 2023-05-18 | by ( Nathan Proctor | ) www.businessinsider.com time to read: +11 min

As more devices in our lives run on software, manufacturers have started to exert more control over their products even after the customer has taken them home. In some cases, companies force customers to use their repair services, disabling the product if they try to fix it themselves. Companies are just beginning to monetize this control, with dystopian methods and the assistance of America's unbalanced copyright laws. For companies, the appeal of subscriptions is pretty straightforward: a steady stream of revenue and a lot more money raised from their customers over time. In other cases, companies have tried to block consumers from accessing certain features at all unless they pay up first.

☆ Gun-loving Texas, where most households own a firearm, has become an epicenter of mass shootings
▼ + stars: | 2023-05-17 | by ( Emma Tucker | ) edition.cnn.com time to read: +23 min

CNN and the GVA define a mass shooting as a shooting that injures or kills four or more people, not including the shooter. They argue that more firearms and higher gun ownership increases public safety – a stance that continues to be at odds with gun violence experts and data. The area around the Robb Elementary School signs has become a memorial dedicated to the victims of the May 24 mass shooting. Mass shootings are just a piece of that, and the strategies that we’re laying out will impact mass shootings. They’ll also impact a lot of other types of gun violence and that’s absolutely critical to saving lives,” Horwitz said.

☆ Drug Shortages Near an All-Time High, Leading to Rationing
▼ + stars: | 2023-05-17 | by ( Christina Jewett | ) www.nytimes.com time to read: +1 min

The Society of Gynecologic Oncology sent out a nationwide survey in recent weeks. In response, doctors in 35 states said they had little to no supply of key chemotherapy drugs, even at large cancer centers and teaching hospitals. “Our patients are in a war, and what we’re doing is we’re taking their weapons away,” Dr. Timmins said. Dr. Kevin Schulman, a professor at Stanford Medicine who has studied the generic drug industry, said he had urged the White House team to examine how much power the intermediary companies have in contracting with generic drug makers. He said they demand rock-bottom prices, but unlike a customer-facing company like Apple that contracts with suppliers worldwide, the drug intermediaries face no accountability when shortages arise.

☆ Former SVB, Signature Bank Executives to Face Senate Panel
▼ + stars: | 2023-05-16 | by ( Gina Heeb | Andrew Ackerman | ) www.wsj.com time to read: 1 min

Former Silicon Valley Bank CEO Greg Becker plans to apologize to a Senate panel and say that no bank could have survived the deposit run that SVB saw in March. Photo: patrick t. fallon/Agence France-Presse/Getty ImagesFormer Silicon Valley Bank Chief Executive Greg Becker and two ex-executives from Signature Bank will appear in front of a Senate committee Tuesday, where the chairman is expected to blame senior management for the pair of failures in March. Senate Banking Committee Chairman Sherrod Brown (D., Ohio) said the banks grew too fast and repeatedly ignored warnings from federal and state officials in the face of “glaring risks” from customer and industry concentration, according to prepared remarks released ahead of the hearing.

☆ Former SVB CEO Greg Becker to Apologize for Bank Collapse
▼ + stars: | 2023-05-15 | by ( Gina Heeb | Andrew Ackerman | ) www.wsj.com time to read: 1 min

Former Silicon Valley Bank Chief Executive Greg Becker Photo: patrick t. fallon/Agence France-Presse/Getty ImagesFormer Silicon Valley Bank chief executive Greg Becker plans to tell a Senate committee on Tuesday that no bank could have survived the unprecedented deposit run that led to his institution’s failure in March. Mr. Becker hasn’t spoken publicly since regulators seized SVB two months ago, after a failed capital raise and historic deposit run doomed the startup- and technology-focused California bank. Two former executives at New York-based Signature Bank , which failed shortly after, are also set to appear before the Senate Banking Committee.

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