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If you don’t know a soul that is bullish — and I mean flat-out positive — you may need some new friends. I say I am a naked opportunist and I feel naked and alone right now in saying we might have a bunch of things that could break the bulls' way. 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 .
Persons: , We’ve, sotto, Shawn Fain, Leon Trotsky, Fain, Lululemon, LULU, Robert Bradway, Amgen, Lina Khan, Khan, Trump, Estee Lauder, Morgan Stanley, Jim Cramer's, Jim Cramer, Jim, Virginia Sherwood Organizations: Federal Reserve, Softbank's Arm Holdings, United Auto Workers, UAW, Federal Trade, Activision Blizzard, Horizon Therapeutics, FTC, Apple, GE HealthCare, Disney, Bausch Health, Honeywell, Jim Cramer's Charitable, CNBC, NYSE Locations: Russian, U.S, Wells
Warren Buffett wrote to Leon Cooperman about stock buybacks, taxing the rich, and Henry Singleton. When Cooperman was mulling a presidential run, Buffett joked he could "deliver Nebraska" for him. Cooperman shared a trio of messages he received from Buffett in his newly published memoir. Buffett wrote him a note after reading the letter, which Cooperman still keeps framed in his office:Dear Lee,I always enjoy both the quality of your writing and the quality of your thinking. Buffett wrote to Cooperman after his speech to express his agreement:AdvertisementAdvertisementHenry was a manager that all investors, CEOs, would be CEOs, and MBA students should study.
Persons: Warren Buffett, Leon Cooperman, Henry Singleton, Cooperman, Buffett, Goldman Sachs, trumpeted, Dear Lee, Warren, Singleton, Henry, Lee, you've Organizations: Service, Teledyne, Cooperman, Wall, Finance, Philanthropy, Omega Advisors, Business, Loews, Berkshire Locations: Nebraska, Wall, Silicon, Bronx, Iraq, Afghanistan
They claim the Florida Constitution's privacy clause for more than 40 years has explicitly protected a right to abortion in the state. Florida officials contend the Supreme Court has in the past erroneously concluded the privacy clause covers abortion rights when it was actually intended more as a guard for “informational privacy, like the disclosure of private facts." The six-week ban DeSantis signed into law earlier this year would take effect 30 days after a Supreme Court decision to affirm the current ban. The privacy clause was put into the Florida Constitution by a voter referendum in 1980 and later affirmed as including abortion rights by the state Supreme Court. An appeals court overturned the injunction, bringing the case before the state Supreme Court.
Persons: Ron DeSantis, DeSantis, , Dobbs, Roe, Wade, , Jennifer Canady, Charles Canady Organizations: Republican Gov, GOP, Planned, American Civil Liberties Union, Voters, Supreme, Republican, American College of Obstetricians, American Medical Association Locations: Florida, Tallahassee, , U.S, Leon
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The donations were meant 'to weed out anti crypto dems for pro crypto dems and anti crypto repubs for pro crypto repubs," Salame said in a private message, according to a court document. It's the first time a Chinese president has missed the summit, a sign of how geopolitics have shifted. But Leon Cooperman, the chair and CEO of the Omega Family Office, told CNBC he doesn't think markets will hit a new high for a long time.
Persons: Goldman Sachs, David Solomon, CNBC's David Faber, Instacart, Goldman, Solomon, FTX's Salame, Ryan Salame, Salame, Joe Biden, Xi Jinping, Vladimir Putin, Leon Cooperman Organizations: CNBC, Nasdaq, ifo Institute, Alameda Research, Omega Locations: Germany, Alameda, India
Brent crude futures settled 68 cents, or 0.8%, lower at $89.92 a barrel, after trading between $89.46 and $90.89. U.S. West Texas Intermediate crude (WTI) futures finished down 67 cents, or 0.8%, at $86.67 a barrel, after trading between $86.39 and $87.74. Thursday's fall came after nine straight sessions of gains in WTI and seven straight gains in Brent. But crude imports surged 30.9%. "The wind has been taken out of the bulls' sail overnight by rising Chinese product exports last month, albeit crude oil imports rose," PVM Oil analyst Tamas Varga said.
Persons: Agustin Marcarian, Thursday's, Prices, Dennis Kissler, John Kilduff, Tamas Varga, Leon Li, Erwin Seba, Arathy Somasekhar, Ahmad Ghaddar, Trixie Yap, Marguerita Choy, Frances Kerry, Nick Macfie Organizations: REUTERS, HOUSTON, Brent, . West Texas, U.S, BOK, Again, Markets, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Iran, Venezuela, WTI, Brent, Saudi Arabia, Russia, China, Saudi, U.S, Shanghai, Houston, London, Singapore
Oil slips on weak China outlook despite US stock drawdown
  + stars: | 2023-09-07 | by ( Erwin Seba | ) www.reuters.com   time to read: +2 min
Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. Prices had spiked earlier in the week after Saudi Arabia and Russia, the world's top two oil exporters, extended voluntary supply cuts to the year-end. These were on top of the April cuts agreed by several OPEC+ producers running to the end of 2024. But crude imports surged 30.9%. "The wind has been taken out of the bulls' sail overnight by rising Chinese product exports last month albeit crude oil imports rose," PVM Oil analyst Tamas Varga said.
Persons: Agustin Marcarian, we've, Jim Ritterbusch, Tamas Varga, Leon Li, Ahmad Ghaddar, Trixie Yap, Marguerita Choy, Frances Kerry Organizations: REUTERS, Brent, U.S, West Texas, Energy, Ritterbusch, Markets, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Iran, Venezuela, HOUSTON, China, Saudi Arabia, Russia, Saudi, Shanghai, London, Singapore
Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. Both benchmarks had spiked earlier in the week after Saudi Arabia and Russia, the world's top two oil exporters, extended voluntary supply cuts to the year-end. But crude imports surged 30.9%. "The wind has been taken out of the bulls' sail overnight by rising Chinese product exports last month albeit crude oil imports rose," PVM Oil analyst Tamas Varga said. Concerns about rising oil output from Iran and Venezuela, which could balance out a portion on cuts from Saudi and Russia, kept a lid on the market as well.
Persons: Agustin Marcarian, Brent, Tamas Varga, Leon Li, Trixie Yap, Jason Neely Organizations: REUTERS, U.S, West Texas, Markets, American Petroleum Institute, U.S . Energy, Administration, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, China, Saudi Arabia, Russia, Iran, Venezuela, Saudi, Shanghai, Singapore
Oil falls on concerns about China, winter demand
  + stars: | 2023-09-07 | by ( Trixie Sher Li Yap | ) www.reuters.com   time to read: +3 min
Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. Brent crude futures fell 36 cents to $90.24 a barrel by 0645 GMT, after a nine-session winning streak. U.S. West Texas Intermediate crude (WTI) futures fell 37 cents to $87.17 a barrel after seven sessions of gains. Concerns about rising oil output from Iran and Venezuela, which could balance out a portion on cuts from Saudi and Russia, kept a lid on the market as well. Helping support prices, U.S. crude oil inventories were projected to have fallen by 5.5 million barrels in the week ending Sept. 1, according to market sources citing American Petroleum Institute figures.
Persons: Agustin Marcarian, Brent, Leon Li, Li, Trixie Yap, Stephanie Kelly, Jacqueline Wong, Muralikumar Anantharaman, Edwina Gibbs Organizations: REUTERS, . West Texas, Markets, U.S, American Petroleum Institute, U.S . Energy, Administration, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, SINGAPORE, China, Saudi Arabia, Russia, Shanghai, Iran, Venezuela, Saudi, OPEC, Caracas, Singapore, New York
There's no indication that interest rates are too high, Leon Cooperman told CNBC. The billionaire investor also sees a return to this year's stock market highs as unlikely. "What's the sign that interest rates are too high?" "I don't expect we will see a new high in the market for a long time. "In 2000, everybody was hot on the internet: Cisco, Cisco, Cisco.
Persons: Leon Cooperman, Cooperman, We've Organizations: CNBC, Service, Omega Advisors, Federal Reserve, Nvidia, Cisco Locations: Wall, Silicon, Georgia
MEXICO CITY (AP) — A Mexican Supreme Court ruling that invalidated all federal criminal penalties for abortion continued a regional trend of widening access to the procedure, but left in place a patchwork of varying state restrictions. Political Cartoons on World Leaders View All 226 ImagesPolitical Cartoons View All 1146 ImagesSome 20 Mexican states, however, still criminalize abortion. Those laws were not affected by the Supreme Court ruling, but abortion rights advocates will likely ask state judges to follow its logic. Abortion-rights activists will have to continue seeking legalization state by state, though Wednesday's decision should make that easier. Some American women were already seeking help from Mexican abortion rights activists to obtain pills used to end pregnancies.
Persons: Sen, Olga Sánchez Cordero, Irma Barrientos, We’re, ” Barrientos, , we’re, Fernanda Díaz de, de León, Díaz de León, León, Roe, Wade, Marina Reyna, , Geoff Mulvihill Organizations: MEXICO CITY, Court, Group, National Institute for Women, Twitter, Civil Association for, U.S, Supreme, Observers, Guerrero, Women, Associated Locations: MEXICO, , United States, Mexico, Aguascalientes, America, Mexico City, Argentina, Colombia, Guerrero, Cherry Hill , New Jersey
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBillionaire investor Leon Cooperman: Interest rates aren't too highLeon Cooperman, Omega Family Office chairman and CEO, joins 'Squawk Box' to discuss the S&P's performance in the last year, his thoughts on an upcoming recession, and how the major averages perform in the year's second half.
Persons: Leon Cooperman Organizations: Billionaire, Omega Family
An example of a company in Cooperman's portfolio that is benefiting from higher oil prices is Paramount Resources , which primarily trades in Canada. Omega also owns stock in several U.S. energy companies, including Energy Transfer . The stock has outperformed the energy sector year to date and has a dividend yield of 9.2%. ET YTD mountain Energy Transfer has outperformed the energy sector this year. The stock has fallen about 8.5% this year but sports a dividend yield above 5%.
Persons: Leon Cooperman, Cooperman, Goldman Sachs Organizations: Omega Family, Texas, Omega, Paramount Resources, Energy, DTE Energy, Microsoft, Apollo, Citigroup, Cigna, Fidelis Insurance Locations: U.S, Canada
Billionaire investor Leon Cooperman said Thursday the stock market could be stagnant for an extended period of time, adding that he's standing by his recession call. "I don't expect we see a new high in the market for a long time," Cooperman said on CNBC's "Squawk Box." "I think we're going to wind up with a recession, but it's not here, not now," Cooperman said. The S & P 500 has rallied more than 16% this year, powered by Big Tech and stocks tied to artificial intelligence. "I think the strength of the market was very much tied to positioning.
Persons: Leon Cooperman, Cooperman, We've, it's Organizations: Omega, Big Tech Locations: U.S
Investors had expected Saudi Arabia and Russia to extend voluntary cuts into October, but the three-month extension was unexpected. "These bullish moves significantly tighten the global oil market and can only result in one thing: higher oil prices worldwide," Jorge Leon, senior vice president at consultancy Rystad Energy, said in a note. The Saudi and Russian voluntary cuts are on top of the April cut agreed by several OPEC+ producers, which extends to the end of 2024. "The decision to prolong output cuts underscores their dedication to price stability in a challenging market environment," Sugandha Sachdeva, executive director and chief strategist at Acme Investment Advisors, said. Sachdeva, however, added that the annual refinery maintenance period in the U.S. from September to October could limit demand for crude and potentially act as a restraining factor on rising oil prices.
Persons: Jorge Leon, Leon, Alexander Novak, Novak, Sachdeva, Mohi Narayan, Arathy Somasekhar, Christopher Cushing, Stephen Coates Organizations: REUTERS, Brent, . West Texas, Rystad Energy, Saudi, Acme Investment Advisors, Thomson Locations: Volgograd, Russia, DELHI, Saudi Arabia, West, U.S, New Delhi, Houston
MEXICO CITY (AP) — Mexico’s Supreme Court threw out all federal criminal penalties for abortion Wednesday, ruling that national laws prohibiting the procedure are unconstitutional and violate women’s rights in a sweeping decision that extended Latin American’s trend of widening abortion access. Some 20 Mexican states, however, still criminalize abortion. After 40 years, the Supreme Court reversed its abortion decision, and we’re not going to stop until Mexico guarantees the right to life from the moment of conception." Some American women were already seeking help from Mexican abortion rights activists to obtain pills used to end pregnancies. Her state decriminalized abortion last year, but there are 22 open investigations against women accused of ending their pregnancies.
Persons: , , Sen, Olga Sánchez Cordero, Irma Barrientos, We’re, ” Barrientos, we’re, Fernanda Díaz de, de León, Díaz de León, León, Roe, Wade, Marina Reyna, , Geoff Mulvihill Organizations: MEXICO CITY, Group, National Institute for Women, Twitter, Civil Association for, U.S, Supreme, Observers, Guerrero, Women, Associated Locations: MEXICO, , United States, Mexico, Aguascalientes, America, Mexico City, Argentina, Colombia, Guerrero, Cherry Hill , New Jersey
DeSantis appointed the co-founder of right-wing parental rights group to the state's ethics committee. The group, Moms for Liberty, says its mission is to "stoke the fires of liberty." The group has proposed book bans and fought against mask mandates and teachings about racism and gender issues. The group, however, has rejected the idea that they are seeking to ban books. Moms for Liberty certainly isn't," Moms for Liberty co-founder Tiffany Justice told NewsNation earlier this year.
Persons: DeSantis, Ron DeSantis, Tina Descovich, Descovich, Tiffany Justice, NewsNation Organizations: Florida Gov, Liberty, stoke, Service, Gov, Tallahassee Democrat, Southern Poverty Law Locations: Florida, Wall, Silicon, state's, Leon County , Florida, Tallahassee
For the Biden administration, “the only thing they can pretty much do to counteract Saudi cuts is to bring more oil into the market from other countries,” León said. “Iran and Venezuela are the best candidates,” he added, even if it’s politically unpalatable to fully reopen talks with them. Domestic producers of oil from shale won’t fill the void in the short term. The SPAC buying Donald Trump’s social network gets more time for its deal. Shareholders in Digital World Acquisition Corporation voted to give the firm 12 more months to close its merger with Truth Social.
Persons: Biden, ” León, León, , Margrethe Vestager, Didier Reynders, Vestager, Donald Trump’s Organizations: European Investment Bank, European Commission, Truth Locations: Iran, Venezuela, States, Washington
A general view shows the Tesla logo on the Gigafactory in Gruenheide near Berlin, Germany, August 30, 2022. But one month later, they told us to wait," the source told Reforma. Several sources previously told Reuters that Tesla planned to begin production in Mexico in 2025. Tesla announced its plans for Mexico in March, but has not publicly revealed a start date for construction or production. Nuevo Leon's economy minister, Ivan Rivas, declined to comment on Tesla's timeline, saying it was a matter for the company to address.
Persons: Annegret, Tesla, Ivan Rivas, Ramboll, Daina Beth Solomon, Raul Cortes, Hyunjoo Jin, Sarah Morland, Leslie Adler Organizations: REUTERS, Companies Reforma, MEXICO, Reforma, Reuters, Thomson Locations: Gruenheide, Berlin, Germany, Mexico, Nuevo Leon, Reforma, Nuevo Leon's, Mexico City, Hyunjoo, San Francisco
Flexport CEO Dave Clark is resigning from the supply chain software startup and handing the reins over to founder and executive chair Ryan Petersen after one year in the role — and after just six months of helming the company solo. As such, I will be resigning from my position at Flexport." Clark and Petersen had been co-CEOs of Flexport beginning last September, and Clark took over as the company's sole CEO in March. Flexport announced last June that Petersen would step down in March 2023 as CEO and turn the position over to Clark, while transitioning into the role of executive chair. In July, Flexport said Petersen would join Founders Fund, the venture capital fund founded by billionaire Peter Thiel.
Persons: Dave Clark, Ryan Petersen, Ryan, Clark, Petersen, Flexport, Peter Thiel ., — CNBC's Riley de León Organizations: CNBC, Wall Street, Amazon, Founders Fund, Peter Thiel . Representatives, Fund Locations: Flexport, Texas, Clark
Saudi Arabia and Russia said they will extend oil supply cuts of 1.3 million barrels a day through December 2023. Analysts think inflation could stay at higher levels for longer due to the higher oil prices. US West Texas Intermediate, or WTI, crude oil futures also hit a 10-month high. Higher oil prices are bad news for the world's central banks, which have been trying to tame high inflation since last year. Energy is a key input for economic activities, so higher oil prices generally lead to inflation.
Persons: Brent, Jorge Leon, Leon, Naeem Aslam, Aslam Organizations: Service, West Texas, Organization of, Petroleum, Rystad Energy, Energy, Zaye, International Energy Agency, IEA Locations: Saudi Arabia, Russia, Wall, Silicon, OPEC
Investors had expected Saudi Arabia and Russia to extend voluntary cuts into October, but the three-month extension was unexpected. "This is a clear indication that oil prices trump volume (for Saudi Arabia)," said Jorge Leon, senior vice president at Rystad Energy. "These bullish moves significantly tighten the global oil market and can only result in one thing: higher oil prices worldwide," Leon added. Both Saudi Arabia and Russia said they would review the supply cuts monthly, and could modify them depending on market conditions. Along with the Saudi supply cuts, which began in July, prospects of the U.S. economy avoiding a hard recession have helped lift oil demand and prices in recent months.
Persons: Nick Oxford, Brent, Goldman Sachs, Jorge Leon, Leon, Giovanni Staunovo, Shariq Khan, Natalie Grover, Katya Golubkova, Andrew Hayley, Andrea Ricci, Nick Macfie, Timothy Gardner Organizations: Midland , Texas U.S, REUTERS, Brent, . West Texas, Investors, Rystad Energy, UBS, Thomson Locations: Midland , Texas, Saudi Arabia, Russia, BENGALURU, 4Q23, U.S, Saudi
The state population is 27% Black, but the districts are drawn so that white voters are a majority in six of Alabama's seven congressional districts. The judges said they were reluctant to get involved in a task typically left to the states. In Georgia on Tuesday, a judge began hearing a no-jury trial on whether the GOP-controlled state legislature wrongly drew congressional and state legislative lines to dilute Black voting power. Louisiana – which has a Republican state legislature and a Democratic governor – has a population that is about one-third Black. But five of the state's six congressional districts are majority-white.
Persons: didn't, , couldn't, Purcell, Julie Ebenstein, Ebenstein, Dan Vicuna, Steve Jones, Jones, Charles Bullock, J, Lee Marsh, Ron DeSantis Organizations: Representatives, GOP, Democratic, Peach State, Alabama, Black, Supreme, Republicans, U.S, District, University of Georgia, Leon County Circuit, voters, Florida Gov, Republican Locations: Alabama, Georgia, Peach, Black, Yellowhammer State, Florida, Leon County, In Louisiana, Louisiana, New York
The NewsA Florida judge struck down the state’s congressional map on Saturday, ruling that it violated the Florida Constitution by diminishing the influence of Black voters, and ordering the State Legislature “to enact a new map which complies with the Florida Constitution.”Under state constitutional amendments that Florida voters passed in 2010, lawmakers are forbidden to draw districts “with the intent or result of denying or abridging the equal opportunity of racial or language minorities to participate in the political process or to diminish their ability to elect representatives of their choice.”In a 55-page ruling, Judge J. Lee Marsh of the Leon County Circuit Court ruled that lawmakers had violated that prohibition with the new maps they drew after the 2020 census. Judge Marsh rejected the Florida secretary of state’s argument that the prohibition didn’t apply to this case because Black voters had been a plurality, rather than a majority, in a district that the new map dismantled. The secretary inaccurately conflated two pieces of the law, he ruled. One requires the creation of new majority-minority districts in certain circumstances. The other limits the “diminishment” of existing districts in which voters from a minority group had sufficient numbers and influence to elect their candidate of choice, even if they weren’t an absolute majority — and that was the piece that applied to this case, he said.
Persons: Judge J, Lee Marsh, Judge Marsh Organizations: Legislature, Circuit Locations: Florida, Leon
A torn campaign billboard shows ousted Gabon President Ali Bongo Ondimba in Libreville on August 31, 2023. AFP/Getty ImagesPropping up ‘democratic dictators’Whilst the international community has condemned the coup in Gabon, it has not attracted the same vehement criticism that last month’s coup in Niger did. French Prime Minister Elisabeth Borne said France was watching the coup d’etat in Gabon “with the utmost attention.”It presents a challenge to France. Large crowds supporting the coup gathered Sunday near the French military base in Niamey, with demonstrators displaying signs demanding French troops withdraw. “The systems of government that former French colonies have, which were imposed by Paris are no longer fit for purpose.
Persons: Leon, Charles de Gaulle, Gaulle, Bongo, jubilation, General Brice Oligui Nguema –, Bongo’s, Nourredin Bongo Valentin, , Ali Bongo Ondimba, , Oluwole, Elisabeth Borne, Chris Ogunmodede, that’s, Paul Biya, Ogunmodede, ” Ogunmodede, , ” Ojewale, , Ndongo Samba Sylla, Emmanuel Macron, Macron Organizations: CNN, Military, Gabonese, Agence France, Presse, Gabon, Getty, Institute of Security Studies, autocrats, Central African, CFA, Banque de France, , Macron Locations: Gabon, France, Gabon’s, Libreville, AFP, Niger, Gabonese, West, Central Africa, Mali, Senegal, Dakar, , Niamey, Paris, Congo Brazzaville, Equatorial Guinea, Cameroon, Switzerland, Africa, Russia, Commonwealth, Togo, Macron France, Nigeria, “ Africa
Editor’s Note: Monthly Ticket is a CNN Travel series that spotlights some of the most fascinating topics in the travel world. About walking sticksThat first Camino, there was absolutely no way I was using walking sticks. Whatever the percentage, walking sticks help you balance on irregular ground – especially on tricky loose-stoned downhill slopes. Torres way, one of many Camino de Santiago routes, runs from Salamanca to Santiago de Compostela. About embracing the mysticalMany Camino pilgrims end their journey at the Santiago de Compostela Cathedral in Galicia, Spain.
Persons: we’re, Saint James, , James Jeffrey Walking, you’ll, Ernest Hemingway, , James Jeffrey I, James Jeffrey, Torres, ” Jan Morris, Ribera, Spain –, ” Peter Stanford, Paulo Coelho, Richard Aldington, don’t, Coelho, E.M . Forster Organizations: CNN, Port, Saint, Camino, Gran Canaria, Wine, Santiago de Compostela Cathedral Locations: Santiago, , Saint, Pamplona, Burgos, Leon, Santiago de Compostela, Camino, Europe, Africa, del Norte, Camino Norte, la Plata, Spain, Salamanca, , New York, Canary, Rioja, Ribera del Duero, Portugal, Lisbon, Santiago de, Galicia, Portugal's Algarve, extremis
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