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☆ Small caps are surging. Oppenheimer found a 'broadening' bull market favors future returns
▼ + stars: | 2024-07-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Oppenheimer views last week's rally in small-cap stocks as a potential catalyst for the wider market and its future returns. "The point is that last week's small-cap breakout marks a re-broadening of the bull that should carry bullish implications for all capitalizations." .RUT YTD mountain Performance in 2024 The comments from Wald came on the heels of last week's 6% surge in the Russell 2000 index of small caps. The iShares Russell 2000 ETF added as much as another 1.6% early in Monday's session. "In our view, this cycle's 'as good as it gets moment' has not yet been reached," Wald said.

Persons: Oppenheimer, Ari Wald, Wald, Russell Organizations: Federal Reserve, Viking Therapeutics, Zeta Global

☆ Stocks making the biggest moves premarket: Trump Media & Technology, Apple, Super Micro Computer and more
▼ + stars: | 2024-07-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Goldman Sachs — Shares slipped less than 1% after the bank posted a second-quarter earnings beat . Crypto stocks — Shares of bitcoin miners and cryptocurrency stocks rose as bitcoin and Ethereum popped more than 4%. Tesla — The electric vehicle stock rose 4%, building on a more than 25% gain so far this month. BlackRock — Shares rose 1.2%. The world's largest asset manager posted second-quarter adjusted earnings per share of $10.36, exceeding the LSEG consensus estimate of $9.93.

Persons: Donald Trump, Goldman Sachs, Goldman, LSEG, Coinbase, Tesla, AutoNation, Morgan Stanley, Baxter, — CNBC's Lisa Han, Hakyung Kim, Sarah Min, Jesse Pound, Pia Singh Organizations: Trump Media & Technology, Trump, Apple, Bloomberg News, Micro Computer, Walgreens, Alliance, Marathon, Technologies, Sunnova Energy, Energy, Stelco Holdings, CDK, Baxter Locations: India, Cleveland, BlackRock

For Nvidia CEO Jensen Huang, being almost the only game in town for AI chips isn't enough. AdvertisementThe company also runs Nvidia Inception, an incubator and venture network that counts more than 20,000 early-stage companies among its membership. "I think it's crazy," said another founder whose company received investment from NVentures, who spoke on condition of anonymity. Any company trying to do anything major in AI has spent the past two years buying them by the truckload. AdvertisementHe says he's received personal calls from Huang in which the Nvidia CEO weighs in on company decisions or expresses disapproval of his public statements.

Persons: Jensen Huang, Chris Brown, Brown, Huang, Vishal Bhagwati, Sid Siddeek, Jensen, Umesh, Padval, Uber, Nvidia's, Lisa Su, he's, there's Organizations: Service, Nvidia, Business, Corporate, Cohere's, Google, AMD Locations: Silicon Valley, New York, NVentures, OpenAI

☆ Meta is lifting restrictions on Trump’s account
▼ + stars: | 2024-07-12 | by ( Samantha Delouya | ) edition.cnn.com time to read: +1 min

CNN —Meta announced Friday that it would remove restrictions placed on former President Donald Trump’s Facebook and Instagram accounts ahead of the Republican National Convention next week. The company said the decision was made to ensure that Trump, the presumptive Republican nominee for president, would have equal standing with Democrat President Joe Biden. “In assessing our responsibility to allow political expression, we believe that the American people should be able to hear from the nominees for President on the same basis,” a statement from Meta said. On Friday, Meta said the penalties placed on Trump’s accounts have not had to be deployed. Trump launched his own social media site, Truth Social, in 2022, in the wake of his suspension from Facebook and Instagram, along with social media platform X, formerly known as Twitter.

Persons: CNN —, Donald Trump’s, Joe Biden, “, Meta, Trump, Instagram Organizations: CNN, CNN — Meta, Donald Trump’s Facebook, Republican National Convention, Trump, Republican, Republican Party, Facebook, Meta, Twitter

☆ Prince Harry accepted the Pat Tillman Award at the 2024 ESPYs, but a PR expert said he should have declined the honor
▼ + stars: | 2024-07-12 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +10 min

One of the special honoree awards is the Pat Tillman Award for Service, which recognizes "a person with a strong connection to sports who has served others in a way that echoes the legacy" of Pat Tillman. AdvertisementESPN and the Pat Tillman Foundation selected Prince Harry to win the award for 2024 because of his work with the Invictus Games. Some thought Prince Harry didn't deserve the Pat Tillman AwardThe Invictus Games are a worldwide sporting competition for injured veterans. AdvertisementMary does not work for the Pat Tillman Foundation or play a role in deciding who wins the annual award. Despite the controversy, ESPN and the Pat Tillman Foundation stood by their decision, as the organizations shared in a statement with Business Insider ahead of the ESPYs.

Persons: —, Prince Harry, Pat Tillman, Pat, Duke, Duchess of, Prince Harry didn't, Harry, Mary Tillman, Chris Jackson, Mary, Duke of Sussex, Meghan Markle, Pat's, Marie Tillman Shenton, Princess Diana, Evan Nierman, Banyan, Nierman, Meghan, Serena Williams, Williams, Kevin Mazur, Neirman, Yaroslav Sabitov, Misan Harriman, Kate Middleton, Prince William, Taylor, William, Prince, Wales, It's, approachability Organizations: Service, Dolby Theatre, Business, Arizona Cardinals, NFL, Army, NPR, ESPN, Pat Tillman Foundation, Invictus, British Armed Forces, Invictus Games, Games, Daily, Getty, Aviation, Tillman Foundation, Invictus Games Foundation, PR, Netflix, Spotify, European Locations: Los Angeles, Afghanistan, Duchess of Sussex, Nigeria, Kensington, England

☆ American Century's Rich Weiss says Fed could cut twice this year, urges investors to stay diversified
▼ + stars: | 2024-07-12 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Rich Weiss wouldn't be surprised if the Federal Reserve cuts rates twice this year — and potentially before the November election. The comments from Weiss come as Wall Street continues to weigh whether the Federal Reserve will cut rates before year-end. But Weiss urges investors to diversify in this concentrated market. Although a riskier bet, Weiss is also finding opportunities in the real estate sector, which he expects should recover as rates fall. Bonds also look attractive should yields continue to come down, and could outperform stocks through the end of 2024, he added.

Persons: Rich Weiss wouldn't, CNBC's Dominic Chu, Weiss, that's, Bonds Organizations: Federal Reserve, Century Investments, American

☆ Former Air Force engineer arrested on charges related to a C-130 crash that killed 15 Marines and one Navy sailor in 2017
▼ + stars: | 2024-07-12 | by ( Thomas Novelly | Konstantin Toropin | ) www.businessinsider.com time to read: +5 min

"Fisher was also one of the key decision-makers who removed the critical inspection procedure in August 2011," prosecutors allege. AdvertisementA C-130 flies above Robins Air Force Base in Georgia. Related storiesThe crash investigation revealed "gross negligence" in the maintenance culture at Robins Air Force Base, but "Fisher and the System Program Office avoided scrutiny," federal prosecutors said. A C-130 Hercules aircraft undergoes scheduled maintenance in a hangar at Robins Air Force Base. US Air Force photo by Joseph MatherInvestigators began zeroing in on Air Force Materiel Command Form 202, a document that must be filed when maintenance personnel need to request permission to deviate from technical manuals when making repairs.

Persons: —, James Michael Fisher, Fisher, Jamal D, Joseph Mather Investigators, Jessica Jenson, Chad E, Jenson, Lance Cpl, Samantha Schwoch Organizations: Service, Air Force, Robins Air Force Base, KC, Business, Robins, US Air Force, Sutter, Marine Corps KC, Navy, Marine Corps, Air Force Materiel, US Marine Corps, Justice Department Locations: Georgia, Mississippi, Leflore County , Mississippi, Florida, Portugal

☆ Ellen DeGeneres said she's 'done' with fame after her upcoming Netflix special. Here's a complete timeline of the backlash she's faced since 2020.
▼ + stars: | 2024-07-12 | by ( Olivia Singh | ) www.businessinsider.com time to read: +32 min

Read previewThe talk show host Ellen DeGeneres has long been considered a beloved celebrity for her friendly and funny public demeanor. "Maybe I'm being naive, but I expected them to welcome me with confetti: Welcome to 'The Ellen DeGeneres Show'!" Next thing we know, we literally hear Steve Jobs pick up and say, 'Hi, Ellen' … Ellen told him the iPhone should have a bigger font," the producer said. I have been getting calls asking me about the Ellen Degeneres Show and I would like to address the time I spent there. AdvertisementPaytas appeared on "The Ellen DeGeneres Show" in 2010 when she was 22 years old to showcase her speed-reading talent during an audience talent segment.

Persons: —, Ellen DeGeneres, Nikkie de Jager, DeGeneres, NikkieTutorials, vlogger, de Jager, hadn't, van, Sebastian Williams, van Nieuwkerk, YouTuber, De Jager, Pop Crave, Ellen, Jonas, Kevin T, Porter crowdsourced, you've, Portia de Rossi, wouldn't, didn't, X weren't, I've, Kevin Winter, Stagehands, Jimmy Kimmel, John Oliver, Samantha Bee, Ellen DeGeneres's, Jordan Strauss, Tom Majercak, Majercak, de Rossi, Steve Granitz, Steve Jobs, Jobs, Jane Lynch's, Katy Perry, Chris Pizzello, Ellen Show, Neil Breen, Breen, Richard Wilkins, she'll, Richard, you'll, Neil, She'll, I'd, I'm, Raymond, Brad Garrett, Garrett, Lea Thompson, Scooter Braun, Kevin Mazur, Braun, Justin Bieber, Ariana Grande, Andy Lassner, James Corden, Corden, Hedda Muskat, Joshua Blanchard, Patrick McMullan, Ed Glavin, Mary Connelly, Muskat, Glavin, Ed, Tony Okungbowa, Okungbowa, Ellen Degeneres, Tony okungbowa, Dakota Johnson, Johnson's, Johnson, that's, Craig, Trisha Paytas, Christopher Polk, YouTuber Trisha Paytas, H3H3, Ethan Klein, Paytas, Ashton Kutcher, Kutcher, De Rossi, Ryan Phillippe, haven't, Jim Spellman, WireImage, Thompson, Phillippe, Jennifer Aniston, Billie Eilish, Greyson Chance, Gaga's, Chance, Stone, she'd, Rolling Stone, would've, It's, Tasos Katopodis, SFGate, Libby Torres Organizations: Service, Business, C Magazine, YouTube, Los Angeles Regional Food Bank, Variety, Warner Bros, Television, ABC, Fox News, New York Post, New York, Producers, AP, BuzzFeed, The Hollywood, British, Twitter, Sun, NBC, Getty, CDC, Centers, Disease Control, West Hollywood, Netflix Locations: Dutch, California, Australian, Melbourne, Dakota, West

☆ Stocks making the biggest moves midday: Wells Fargo, JPMorgan, AT&T, Carvana and more
▼ + stars: | 2024-07-12 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Wells Fargo recorded $11.92 billion in net interest income, a key measure of what a bank makes on lending, below the $12.12 billion expected by analysts, according to FactSet. JPMorgan reported revenue of $50.99 billion, higher than the $49.87 billion analysts polled by LSEG had expected. Citigroup — The shares dropped more than 2% even after the bank reported better-than-expected profit as investment banking activity surged. Earnings per share came in at $1.52 for the second quarter, compared to $1.39 a share expected by analysts polled by LSEG. Fastenal — The stock rose 4.5% after the industrial company reported earnings for the second quarter.

Persons: Wells, Wells Fargo, LSEG, BTIG, Fastenal, Coco, Piper Sandler, Yun Li, Alex Harring, Samantha Subin, Lisa Han, Michelle Fox, Sean Conlon Organizations: JPMorgan —, JPMorgan, Citigroup —, LSEG, Revenue, Bank of New York Mellon, Citi, FactSet Locations: San Francisco, Snowflake

☆ Stocks making the biggest moves midday: Delta Air Lines, SoundHound AI, WD-40, Tesla and more
▼ + stars: | 2024-07-11 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

Check out the companies making headlines in midday trading: Delta Air Lines — The stock fell almost 5% after the airline issued a sales growth forecast for the third quarter that came in below expectations. The company also reported an almost 30% decrease in net income for the second quarter compared to a year ago. Shares of major airline stocks American Airlines and United Airlines also fell around 4.7% and 3.7%, respectively, following the results. WD-40 reported total net sales of $155 million in the fiscal third quarter, up 9% from the year-ago period. Semiconductor names — Investors took a few chips off the table on Thursday, selling high-flying semiconductor stocks.

Persons: QuantumScape, Conagra, Lantheus, Tesla, Horton, —, Alex Harring, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Tanaya Macheel, Darla Mercado Organizations: Delta Air Lines, American Airlines and United Airlines, Costco, Peugeot, Opel, Vauxhall, Lantheus Holdings, Medicare, Services, PepsiCo, Revenue, Bloomberg News, Bloomberg, Industries, Builders, Semiconductor, —, VanEck Semiconductor, Nvidia Locations: U.S, Canada, Europe

☆ JPMorgan reports before the bell Friday. What Wall Street is watching
▼ + stars: | 2024-07-11 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Along with the top- and bottom-line numbers, Wall Street is also keeping close watch on net interest income and guidance. "We see the greatest sources of potential earnings upside being driven by higher loan growth and capital markets." Barclays analyst Goldberg anticipates a slight decrease in net interest income in the second quarter due to a compression in net interest margin. Last year, the company posted $21.9 billion in net interest income for the period. Despite expectations for seasonally lower trading, he also expects strong investment banking activity and net interest income to drive ongoing positive momentum.

Persons: Jason Goldberg, Jamie Dimon, Goldman Sachs, Richard Ramsden, America's Ebrahim Poonawala, Goldberg, Wells, Mike Mayo, Redburn, John Heagerty Organizations: JPMorgan Chase, LSEG, Barclays, JPMorgan, Bank, America's Locations: United States

☆ My wife and I sold our home in Texas and started traveling the world with our 4-year-old to find a new place to live. We've been to 29 countries so far.
▼ + stars: | 2024-07-11 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +9 min

Read previewThis as-told-to essay is based on a conversation with Jimmy Sweeney, a 31-year-old dad who has been traveling the world with his wife, Brooke, and 4-year-old daughter, Isla, to find a new home since June 2023. Brooke and I have always loved traveling, and having a kid, we knew we didn't want to change that. We sold our house and started our journey in EuropeWe put our house on the market in April of last year. Seeing the stories kids in a place are growing up with is a great way to learn about a culture. We've loved a lot of places so farIt doesn't take long to understand whether you relate to or feel a part of somewhere.

Persons: —, Jimmy Sweeney, Brooke, I've, We've, it's, Brooke Sweeney, Jimmy Sweeney I've, Isla, Jimmy Sweeney It's, We're, that's, You'll, Sweeney Organizations: Service, New Zealand, Business, China Locations: Australia, New, Fort Worth , Texas, Texas, Europe, Florida, Taiwan, Munich, Germany, New Zealand, Japan, Kuala Lumpur, Southeast Asia, Spain, Denmark, Goreme, Amber, Jaipur, India

☆ Investors are underestimating the AI capabilities of this big-cap tech stock, analysts say
▼ + stars: | 2024-07-11 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

The analyst has an outperform rating on Amazon and a price target of $220, which signals 10% upside from Wednesday's close. Anmuth has an overweight rating on the stock and a $240 price target, which implies upside of 20%. The commentary comes on the heels of the e-commerce giant's Amazon Web Services summit in New York, where the company highlighted the ways customers are implementing AI workloads and showcased its rapidly growth AI platform know as Bedrock. He retained a $245 price target on shares and called the stock a top Internet pick. The price target implies 23% upside from Wednesday's close.

Persons: GOOGL, Brian Pitz, workloads, Doug Anmuth, Anmuth, Ronald Josey Organizations: BMO Capital Markets Locations: New York

I grew up shopping the Nordstrom Anniversary Sale with my mom before spending nearly four years working as a sales associate between Nordstrom and Nordstrom Rack. This has given me a very clear sense of the Nordstrom Anniversary Sale bestsellers, what sells out first, and what gets returned. Now, I'm ready to share what's absolutely worth it and what you should skip from the Nordstrom Anniversary Sale. The Nordstrom Anniversary Sale is full of Gucci, Saint Laurent, Tom Ford, and Ray Bans sunnies galore. Here's when you can start shopping Nordstrom Anniversary Sale dates based on your Nordy Club status.

Persons: Nordstrom, Hanky, it's, Augustinus Bader, Dyson, Reiss, Max Mara, Vince, Veronica Beard, Les, Sam Edelman, Kate Spade, Rebecca Minkoff, Kurt Geiger, Saint Laurent, Tom Ford, Ray, sunnies, you'll Organizations: Business, Nordstrom, Nike, Adidas, Branch, Bond, Longchamp, Gucci, Nordy Locations: Arizona, Hoka, Boll

☆ Stocks making the biggest moves premarket: Delta Air Lines, Costco Wholesale, Pfizer and more
▼ + stars: | 2024-07-11 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Delta Air Lines — Shares tumbled 9% after the airline issued a lower-than-expected sales growth forecast in the current quarter. Net income also fell 30% in the second quarter despite revenue reaching record highs. Costco Wholesale — Costco shares added nearly 3% after the wholesale club raised its membership fee for the first time since 2017 . Alcoa — The aluminum producer's shares rose 2.7% after releasing preliminary second-quarter results that came in stronger than expectations. MicroStrategy – MicroStrategy shares rose more than 4% after the bitcoin development company announced a 10-for-1 stock split .

Persons: Morgan Stanley, Jefferies, MicroStrategy, —, Jesse Pound, Tanaya Macheel, Michelle Fox, Alex Harring, Hakyung Kim, Sarah Min Organizations: Delta Air Lines, Costco Wholesale, Costco, Pfizer, PepsiCo —, Pepsi, Semiconductor, Darden, Jefferies, Alcoa, FactSet, FactSet . Revenue, Spotify Locations: U.S, Canada, FactSet .

☆ Samsung’s AI-powered foldable phones get slimmer, thinner, pricier
▼ + stars: | 2024-07-10 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +7 min

CNN —Samsung’s latest generation of foldable phones aim to draw in traditional phone users with the help of artificial intelligence. The new Galaxy Z Fold starts at $1,899.99, up $100 from last year, and is available in silver, pink and navy. Meanwhile, the Z Flip starts at $1,099.99 (also $100 more than last year) and comes in silver, yellow, blue and mint. Samsung’s foldable line occupies between 80% and 85% of the market share. But those same people might prefer to sleep with a smart ring on their finger rather than a smartwatch on their wrist.

Persons: CNN —, Price, David McQueen, ”, Roh —, —, “, ” Roh, Gemini, Samsung’s, Siri, McQueen, Roh, Oura, Francisco Jeronimo, ” Jeronimo Organizations: CNN, ABI Research, Galaxy, Google, Huawei, Motorola, Apple, Samsung, IDC Research, IDC Locations: Paris, wearables

☆ Stocks making the biggest moves midday: Intuit, AMD, LegalZoom.com, Baidu and more
▼ + stars: | 2024-07-10 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

In terms of revenue, LegalZoom now expects between $675 million and $685 million for the full year. Taiwan Semiconductor Manufacturing — The chip stock advanced 3% following the company's revenue results . Though the company's reported T$207.87 billion for the month of June was a 9.5% decrease from last month, it was a 32.9% increase from the year-ago period. For January through June this year, the company reported T$1.27 trillion, which is a 28% increase from the same period last year. Carvana — Shares of the online car seller added 5% after Needham upgraded the stock to buy from hold.

Persons: LegalZoom.com, Dan Wernikoff, Jeffrey Stibel, LegalZoom, Carvana, Needham, robotaxi, —, Alex Harring, Fred Imbert, Samantha Subin, Pia Singh, Michelle Fox, Darla Mercado Organizations: Intuit —, Intuit, Taiwan Semiconductor Manufacturing, Baidu, Street Journal, Shanghai, Mastercard, Visa, Bank of America, Manchester United, BioSciences, Analysts, Illumina, Teva Pharmaceutical Industries, Argus, UBS, Science, AMD, Silo Locations: China, Shanghai, Hoka, Europe

☆ Watch: Boeing plane aborts takeoff after multiple blown tires
▼ + stars: | 2024-07-10 | by ( Samantha Lindell | ) edition.cnn.com time to read: 1 min

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☆ Archegos founder Bill Hwang found guilty in multibillion-dollar fraud trial
▼ + stars: | 2024-07-10 | by ( Samantha Delouya | Allison Morrow | ) edition.cnn.com time to read: +1 min

CNN —Bill Hwang, founder of Archegos Capital Management, was found guilty of fraud Wednesday by a Manhattan federal court after the 2021 collapse of his investment firm wiped billions of dollars off financial markets and nearly brought down Wall Street. The jury delivered a speedy conviction, finding Hwang guilty on 10 of 11 criminal counts after beginning deliberations Tuesday afternoon. Archegos’ implosion cost shareholders $100 billion and banks $10 billion, the prosecutors argued. In a statement, the US Attorney’s office for the Southern District of New York said Hwang’s guilty verdict sends a message that market manipulation would be held accountable. “Hwang and Halligan were able to fraudulently inflate a $1.5 billion portfolio into a $36 billion portfolio,” the statement said.

Persons: Bill Hwang, Hwang, Hwang’s, Patrick Halligan, “ Hwang, Halligan, ” Hwang Organizations: CNN, Archegos Capital Management, Warner Bros, Southern, of Locations: of New York

☆ Lauren Sánchez shares Jeff Bezos' guiding principle for their $10 billion philanthropy effort
▼ + stars: | 2024-07-10 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +4 min

"Jeff is extremely focused, as you can imagine," Sánchez told Longoria of her and Bezos' "philosophy" for philanthropy. Lauren Sánchez and Jeff Bezos work on the Bezos Earth Fund togetherMuch of Longoria and Sánchez's conversation focused on her and Bezos' work on the Bezos Earth Fund. Sánchez serves as the vice chair of the Bezos Earth Fund, helping Bezos and the organization's staff determine where to invest. "Jeff always says, 'We have to invent our way out of this,'" Sánchez told Longoria. "The meat that they're making now tastes so good," Sánchez told Longoria.

Persons: —, Lauren Sánchez, Jeff Bezos, Sánchez, Eva Longoria, Longoria, Robin L Marshall, MacKenzie Scott, Jeff, Bezos, Forbes, Lauren Sanchez, fiancé Jeff Bezos, Cindy Ord, MG24, I've Organizations: Service, Hollywood, Business, Elle Women, Fund Locations: Mexico

CNN —A United Airlines plane lost a wheel while taking off Monday from Los Angeles International Airport, officials said, marking the latest issue this year for the airline, which was already the focus of a safety review by federal aviation officials. The Boeing 757-200 that lost its wheel completed its planned flight to Denver, where it safely landed, United said. “The wheel has been recovered in Los Angeles, and we are investigating what caused this event,” the airline said in a statement. The incident comes months after another United Airlines flight lost a wheel while taking off from San Francisco International Airport, damaging several cars in a parking lot. The incident was one of at least a dozen involving United Airlines flights in March, according to a CNN analysis, prompting CEO Scott Kirby to send a safety message to customers.

Persons: ”, Scott Kirby, ” United, ” CNN’s Gregory Wallace, Samantha Delouya, Taylor Romine, Sara Smart Organizations: CNN, United Airlines, Los Angeles International Airport, Boeing, Pilots, LAX, bravo, Federal Aviation Administration, San Francisco International Airport, FAA, United, ” Locations: Denver, United, Tulsa , Oklahoma, Los Angeles, Osaka, Japan

☆ Stock futures are little changed after S&P 500 notches another record close: Live updates
▼ + stars: | 2024-07-09 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Stock futures were little changed in overnight trading Tuesday after the S&P 500 notched a fresh record close. S&P 500 futures and Nasdaq-100 futures were little changed. The S&P 500 edged up 0.07%, while the Nasdaq added 0.14%. Wednesday marks a light day for economic data, with a final wholesale inventories reading for May due ahead of the June consumer price index reading on Thursday. "If we get a cooler print on CPI this week and if get a cooler print on PPI, September will get priced in as a lock," Liz Young Thomas, SoFi's head of investment strategy, said on CNBC's "Closing Bell" on Tuesday, cautioning that at some point, cooler data may become too cool.

Persons: Jerome Powell, Dow, Powell, Liz Young Thomas, SoFi's Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Senate, Committee, Financial Services Committee, PPI

☆ Citi says take profits in AI 'highfliers,' gives safe alternatives if tech shares start to fall
▼ + stars: | 2024-07-09 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

It's time for investors to consider taking profits in some high-flying artificial intelligence names, according to Citi. The value of AI linchpin Nvidia has more than doubled year to date, while Super Micro Computer has tripled. Given this backdrop, Pettit recommends investors take profits in popular AI names — most notably the enabler stocks like semiconductors — and allocate funds "across the theme's value chain." MCD YTD mountain Shares this year Several popular consumer staples stocks are in the basket, including Kraft Heinz and J.M. Hartford Financial Services Group is the most negatively correlated stock in the basket, with shares up 25% this year.

Persons: propping, Drew Pettit, Pettit, Kraft Heinz, J.M, Chubb Organizations: Citi, Nvidia, Gilead Sciences, Hartford Financial Services, Allstate, Honeywell, Exxon Mobil . Correction Locations: Biopharmaceutical

☆ Mississippi and West Virginia have some of the poorest Americans — and the highest home ownership rates
▼ + stars: | 2024-07-09 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

When comparing personal wealth data with homeownership, a curious pattern emerges: Many states with high homeownership rates have lower income levels and vice versa. According to Federal Reserve data, West Virginia’s average personal income of $52,585 per capita is the second-lowest in the US. However, despite its relatively low personal income levels, it has the highest homeownership rate of all 50 states, at 77%, according to US census data. Mississippi—the only state with a lower average personal income than West Virginia—has the third-highest homeownership rate in the country. Even West Virginia, which counts three out of every four housing units in the state as owner-occupied, isn’t insulated, Sansalone said.

Persons: Vera Sansalone, Sansalone, “, ”, ” Sansalone, West Virginia —, Mike Simonsen, Loren Elliott, Simonsen, They’re, ” Simonsen, Laurie Goodman, ” Goodman, Eric Adams, ” Adams, Stephanie Moulton, ” Moulton, “ We’ve Organizations: CNN, Federal Reserve, West Virginia, Research, Housing, Center, Urban Institute, Republicans, New York City, Harvard University’s, for Housing Studies, Ohio State University Locations: West Virginia, Mannington, Boston, Mississippi, West, ” New York , California, Massachusetts, San Francisco , California, New York City, San Francisco, Manhattan, RentCafe, Washington DC, New York, Dallas

☆ Startups are building robots that can perceive the human world. Here's why VC firms like Khosla and a16z say that spatial intelligence will be the next big thing in AI.
▼ + stars: | 2024-07-09 | by ( Samantha Stokes | Emma Cosgrove | ) www.businessinsider.com time to read: +7 min

Spatial intelligence allows robots to navigate and interact with their environment more efficiently, which means that robots can perform more complex tasks with higher precision and adaptability. AdvertisementEven so, investors say that spatial intelligence represents a quantum leap for the robotics industry, a space already benefiting from an AI boom. Lior Susan, CEO and founder of Eclipse Ventures, is betting that the difficulty of building AI with spatial intelligence will yield bigger returns in the future. "You see this boom of generative AI startups that are actually buying a lot of compute that do not have a business model yet," Susan said. Big tech is rolling in, tooBigger tech companies are also gearing up to compete in robotics' spatial intelligence race—both as builders and investors.

Persons: —, Andreessen Horowitz, Catalyst, Howard Morgan, Max Rimple, Erin Price, Wright, Fei, Fei Li, Kanu Gulati, Khosla, –, Gulati, Lior Susan, Susan, Jeff Bezos, Jensen Huang Organizations: Service, Khosla Ventures, Business, B Capital, Catalyst, Lightspeed Venture Partners, Coatue Management, Stanford University, Eclipse Ventures, Intelligence, Lux, Sequoia Capital, Microsoft, Nvidia, Carbon Robotics, AIs Locations: LLMs, OpenAI, Lux Capital, Taipei

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