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☆ Markets fear the French far right could trigger a financial crisis
▼ + stars: | 2024-06-14 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +5 min

President Emmanuel Macron called the snap elections Sunday after his party lost to the far right in a vote for EU lawmakers, a shock move that rattled markets for French stocks and government bonds. There has been widespread speculation since then that the National Rally, the party of far-right doyenne Marine Le Pen, is poised to become the most powerful force in parliament, unseating Macron’s centrist bloc. The risk of something similar happening in France is real, according to the country’s finance minister, Bruno Le Maire. “This comes down to the (parties’) plans that are on the table, whether we can, yes or no, finance this debt,” Le Maire said. The National Rally has promised to raise public spending and slash VAT on electricity and fuel.

Persons: Emmanuel Macron, Pen, ”, Truss, Bruno Le Maire, Le Maire, “, ” Le Maire, ’ jitters, Ludovic Marin, La Tribune Dimanche, Frank Gill, Moody’s, ” Joseph Ataman, Mark Thompson Organizations: London CNN —, EU, National, ‘, AAA, Getty Images Stock, haven’t, CNN, BFMTV, La Tribune, National Rally, European Central Bank, ECB Locations: France, ‘ France, French, Portugal, Europe, Italy, AFP, Paris, London

☆ Pressure grows on Germany's Scholz after election drubbing by the far right
▼ + stars: | 2024-06-10 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +4 min

The SPD lost support from the 2019 election, winning just 13.9% of the latest votes. Incremental gains meanwhile turned Germany's opposition, the CDU (Christian democrats), into the strongest party, with 23.7% of support. At a national level, the AfD was last ahead of the SPD and in second place overall, according to a leading general election poll. Earlier this year, one of Krah's employees who was based in the European Parliament was arrested for allegedly spying on the parliament for China. watch nowThe AfD's second-in-line for the European Parliament, Petr Bystron, faced allegations of bribery and money laundering, which were linked to Russia and to spreading pro-Kremlin propaganda.

Persons: Olaf Scholz, Koenig Heinrich, Ying Tang, Maximilian Krah, Krah, Petr Bystron, What's, Scholz, Marcel Fratzscher, Scholz's, Emmanuel Macron, Fratzscher, Holger Schmieding Organizations: SPD, Union, Scholz's SPD, Greens, CDU, Nazi regime's SS, Parliament, ZDF, German Institute for Economic Research, CNBC, Deutsche Bank Locations: Duisburg, Germany, France's Rassemblement, China, Russia

☆ This 'quasi monopoly' chip stock will drive AI trend for the next decade, says fund manager
▼ + stars: | 2024-06-06 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

European chip stock ASML "is almost in a quasi-monopoly position" to drive developments in artificial intelligence over the next decade, according to fund manager Marcus Morris-Eyton. Its customers include TSMC , which makes the AI chips designed by Nvidia , AMD and Intel , as well as Samsung and SK Hynix . Shares fell by 7% on the day as the company provided what analysts labeled "soft" guidance for the current quarter. Earlier this week, the company opened a test laboratory for its next-generation lithography equipment with Belgium chip research firm Imec. "Ultimately, if you need AI, if you need [electric vehicles], if you need data centers, you need more chips," Morris-Eyton added.

Persons: Marcus Morris, that's, ASML, It's, Francois, Xavier Bouvignies, Tammy Qiu, Didier Scemama, Marie Ganneval, Eyton, Morris Organizations: Nvidia, AMD, Intel, Samsung, SK Hynix, U.S, Infineon, BE Semiconductor, Wall Street, UBS, of America, AllianceBernstein's, ASML, CNBC Locations: United States, TSMC, Belgium, Veldhoven, Netherlands, ASML

Thursday is a big day for the European Central Bank. It is widely expected to lower interest rates by a quarter percentage point, its first cut since 2019 — and outpace the Fed in lowering borrowing costs. The big questions on our mind: Will Christine Lagarde, the central bank’s president, signal further cuts at its July and September meetings? The good news: Economists say the era of elevated rates around the world is coming to an end. But they add that sticky inflation will tie central bankers’ hands, limiting their ability to lower borrowing costs much.

Persons: Will Christine Lagarde, Holger Schmieding, DealBook Organizations: European Central Bank, Berenberg Bank Locations: Brussels

☆ Profits of these 5 global banks will stay high despite an ECB rate cut, says Berenberg
▼ + stars: | 2024-06-03 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Despite an interest rate cut expected this week, profits at a handful of major European banks will remain robust, according to Berenberg. The European Central Bank appears on course to cut interest rates this week, the first reduction since 2019, despite a higher-than-expected inflation print . However, European banks underperformed their global peers over the past decade as the European Central Bank kept interest rates below or near zero until 2022. The investment bank's analyst also pointed out that European banks are currently trading at a 20% discount to their long-run average valuation despite improvements in their balance sheets and returns. According to Berenberg, historical data shows that European banks only traded below current valuations for 6% of the time between 1988 and 2020.

Persons: Banks, Peter Richardson, Richardson, Berenberg Organizations: European Central Bank, Chartered, Barclays, Nordea Bank, UniCredit, HSBC —, Bank Locations: U.S

☆ The U.S. is now Germany’s biggest trading partner — taking over from China
▼ + stars: | 2024-05-10 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Photo: Christoph Soeder/dpa (Photo by Christoph Soeder/picture alliance via Getty Images)After years of China being Germany's main trading partner, the U.S. looks like it's quietly taking that top spot as the year progresses. Several factors played a role in the change, Carsten Brzeski, global head of macro research at ING Research, told CNBC. […] At the same time, decoupling from China, weaker domestic demand in China and China being able to produce goods it previously imported from Germany (mainly cars) reduced German exports to China," he said. China has been Germany's biggest trading partner for years, but the gap between China and the U.S. narrowed in recent years. The U.S. has also long been a bigger market for German exports than China, Holger Schmieding, chief economist at Berenberg Bank, told CNBC.

Persons: Habeck, Christoph Soeder, it's, Carsten Brzeski, Holger Schmieding, China's, Schmieding Organizations: German, Getty, U.S, CNBC, Reuters, ING Research, Berenberg Bank Locations: Germany, China, U.S

☆ Golden visas attracted wealthy Americans to Southern Europe. Then their housing crisis followed.
▼ + stars: | 2024-05-09 | by ( Eliza Relman | ) www.businessinsider.com time to read: +8 min

This is in part the doing of so-called "golden visas," hugely popular residency visas for foreign investors. And they purchased more Portuguese golden visas than any other nationality in 2022. Related storiesBut as Portugal has experienced a worsening housing affordability crisis, Portuguese public opinion on golden visas has soured. Last year, the country changed the terms of its golden visa program to exclude real estate investment. Other southern European countries are following suit, similarly pointing to skyrocketing real estate prices.

Persons: —, They're, they're, João Pereira dos Santos, Pereira dos Santos, Nuno Fazenda, Holger Schmieding, Schmieding, David Zorrakino Organizations: Service, Business, The New York Times, School of Economics, Finance, Queen Mary University of London, State, Tourism, Trade, Services, Bloomberg, Berenberg Bank, Getty, European Central Bank, Paris Locations: Greece, Portugal, Tourism, Lisbon, Athens, Spain, Southern Europe, Portuguese, London, Ramblas, Barcelona, Catalonia, Europe, Germany, Netherlands, France

☆ This bitcoin miner and Nvidia AI cloud partner's stock could go up 50%, Berenberg says
▼ + stars: | 2024-04-29 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Frankfurt-based tech company Northern Data , prominently known for bitcoin mining, has recently transformed its business model into cloud solutions and data center infrastructure. Listed on the Frankfurt Stock Exchange, Northern Data has three core divisions: Peak Mining for bitcoin mining, Taiga Cloud for cloud computing and Ardent Data Centers for data center infrastructure. The company's Taiga Cloud division is certified as an "Elite" partner of Nvidia , making it one of the largest providers of Nvidia-based cloud services in Europe. The investment bank forecasts annual revenues of around 400 million euros and adjusted profits of about 290 million euros from Taiga Cloud from 2026 onward. Northern Data's cloud computing platform is expected to have 20,000 Nvidia AI chips, worth 730 million euros, by the third quarter of 2024, the note said.

Persons: Gerhard Orgonas, Jenna Xu, Aroosh Thillainathan Organizations: Northern Data, Frankfurt Stock Exchange, Data, Mining, Ardent, Healthcare, Northern Bitcoin, Northern, Nvidia, Data's Locations: Frankfurt, Italy, United States, Northern, Pittsburgh, North Dakota, Texas, Europe

☆ Here are Monday's biggest analyst calls: Apple, Nvidia, AT&T, Tesla, Shopify, Super Micro Computer and more
▼ + stars: | 2024-04-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Evercore ISI reiterates Tesla as in line Evercore ISI lowered its price target on Tesla to $145 per share from $155. Barclays upgrades AT & T to overweight from equal weight Barclays sees "growth quality" for the telecommunications and wireless provider. Barclays downgrades Lululemon to equal weight from overweight Barclays downgraded the maker of athleisure wear due to rising competition. "We initiate coverage of Dave Inc. with a Market Outperform rating and $70 price target representing ~65% upside from the current price." "We are upgrading GWW from EW to OW, while raising our price target from $1,000 to $1,250."

Persons: Evercore, Tesla, Jefferies, LUV, Lululemon, LULU, Dave, Oppenheimer, Instacart, Bernstein, Goldman Sachs, William Blair, Eastman, Morgan Stanley, Berenberg, Melius, Price, Stephens, Grainger Organizations: Airlines, Jefferies, Southwest Airlines, Dynamics, Barclays, Dave Inc, JPMorgan, CART, Apple, Eastman Chemical, Arista Networks, Nvidia, Data, Citi Locations: Americas, China, Tulsa , Oklahoma, Kingsport , Tennessee

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Apple, Roblox, Tesla, Qualcomm, Disney & more
▼ + stars: | 2024-04-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Tuesday's biggest calls on Wall Street: Loop initiates MongoDB as buy Loop sees growth accelerating for the developer data platform company. JPM reiterates General Motors and Ford as overweight JPMorgan said the stocks will benefit from "lower commodities & higher production outside China." JPMorgan upgrades Assai to overweight from neutral JPMorgan said it sees improving trends and better visibility for the Brazilian wholesaler. JPMorgan upgrades Roblox to overweight from neutral JPMorgan said it sees a "compelling entry point" for the stock. JPMorgan downgrades Five Below to neutral from overweight JPMorgan downgraded Five Below due to "ongoing macro pressure."

Persons: JPM, JPMorgan, KeyBanc, Wells, D.A, Davidson, Davidson's, Berenberg, Morgan Stanley, Harley, Evercore, it's bullish, it's, Tesla, Rosenblatt, Oppenheimer, Dwight, Key, Truist, Wolfe, Warner, Price Organizations: Motors, Ford, GM, Nvidia, MU, BMO, prem, NICE, JPMorgan, Barclays, Apple, Albertsons, Catalyst Watch, NOVA, Penn Entertainment, PENN, ESPN Bet, Benchmark, Qualcomm, Warner Brothers, Warner, HBO Locations: China, Texas, U.S

Raymond James raised its price target on Nvidia to $1,100, noting revenue momentum will stay strong. On a more sour note, Bank of America lowered its price target on Boeing to $190, citing risks around the company's ongoing safety issues. He raised his price target by $30 to $160, which suggests more than 25% potential upside for shares. Analyst Bryan Bergin initiated coverage of Mastercard with a buy rating and $545 price target, which indicates 16.2% potential upside. — Pia Singh 5:50 a.m.: Bank of America cuts Boeing price target Boeing's latest troubles made Bank of America even more skeptical on the stock's prospects.

Persons: Raymond James, Berenberg, Andres Castanos, Mollor, — Pia Singh, Bernstein, Johnson, Callum Elliott, Kenvue, Elliott, Lorraine Hutchinson, Hutchinson, Nike's, TD Cowen, Bryan Bergin, Bergin, Blackwell, Srini Pajjuri, Ronald Epstein, Dave Calhoun, Epstein, Fred Imbert Organizations: CNBC, Nvidia, Bank of America, Boeing, Johnson, Nike, Mastercard, Visa, of America, New York Times Locations: Albemarle, underperform, China, Europe, Asia

☆ Stocks making the biggest premarket moves: Nike, CarMax, Robinhood, Alpine Immune Sciences and more
▼ + stars: | 2024-04-11 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Nike — Shares added 2% following an upgrade at Bank of America to buy from neutral. Alpine Immune Sciences — Shares of Alpine Immune Sciences soared nearly 37% after Vertex Pharmaceuticals said it will buy the company for about $4.9 billion in cash. The deal values Alpine stock at $65, about 67% above its close on Tuesday, the day before Bloomberg reported Alpine was considering its options. Vera Therapeutics — The stock jumped more than 10% following the announcement of the Vertex/Alpine deal. Atlassian — Shares jumped 4% after being upgraded at Barclays to overweight from equal weight.

Persons: Robinhood, Vera Therapeutics, Berenberg, DoorDash, Alex Harring, Sarah Min Organizations: LSEG, Revenue, Nike —, Bank of America, Citi, Constellation, Modelo, Constellation Brands, Immune Sciences, Vertex Pharmaceuticals, Bloomberg, Barclays, CNBC Locations: Vera, Albemarle

☆ Here are Thursday's biggest analyst calls: Nvidia, Costco, Apple, Snowflake, Meta, Nike, Disney, Airbnb & more
▼ + stars: | 2024-04-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Goldman Sachs reiterates Alphabet as buy Goldman said it's sticking with its buy rating following the company's Google Cloud Next event. "We are initiating coverage of Airbnb (ABNB) with a BUY rating and a $190 per share price target." "Following a period of restriction, we are moving to an Overweight rating and a December 2024 price target of $140." "Given the increase in stock price, we believe valuation levels have disconnected from the fundamental outlook." Piper Sandler reiterates Meta as overweight Piper raised its price target on the stock to $600 per share from $525. "

Persons: Evercore, it's bullish, Goldman Sachs, Goldman, Berenberg, TD Cowen, Visa, Oppenheimer, it's, Snowflake, Raymond James, Simona Jankowski, Wells, Morgan Stanley, Moffett, We've, Marsh, Bernstein, Kenvue, underperform Bernstein, Johnson, Needham, Airbnb, CVX, TTE, Piper Sandler, Meta, Piper, Wells Fargo Organizations: JPMorgan, Apple, Mastercard, Barclays, Nasdaq, Nvidia, UBS, Gartner, IT, Deutsche Bank, ATI, Deutsche, Disney, Microsoft, TEAM, " Bank of America, Nike, of America, Citi, Robinhood, MMC, Qualcomm, Johnson, Consumer, Scotiabank, Hamilton Insurance, Costco, ~$ Locations: Albemarle, Chevron

☆ Worried about lofty valuations? Berenberg names 5 top stocks in a 'cheap' sector
▼ + stars: | 2024-03-19 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

As concerns swirl about lofty valuations in the stock market and investors focus on AI companies, strategists at Berenberg see one sector as a relative bargain: energy. The global energy sector is trading around record low valuations relative to the broader market, according to the German investment bank. "The European energy sector has never been this cheap on trailing price/book multiples, both on an absolute and relative basis," the bank said. Aside from valuations, Berenberg also suggested that fundamentals support owning energy stocks. "Tight energy markets are likely to underpin oil prices and support an improving earnings backdrop for the energy sector," the Berenberg analyst said.

Persons: Jonathan Stubbs, Berenberg, Energean —, Stubbs Organizations: Mar, Shell, Harbour Energy Locations: TotalEnergies, U.S, Russia, Ukraine

☆ Here are Thursday's biggest analyst calls: Nvidia, Netflix, Tesla, Citi, Robinhood, Meta, IBM, Broadcom & more
▼ + stars: | 2024-03-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Evercore ISI reiterates Netflix as outperform Evercore raised its price target on Netflix to $640 per share from $600. Citi downgrades Chubb to neutral from buy Citi said it sees a more balanced risk/reward for the insurance company. Goldman Sachs upgrades Citi to buy from neutral Goldman said in its upgrade of Citi that shares are "compelling." Citi reiterates Nvidia as buy Citi said after a series of investor meetings that Nvidia is a "most favored name." Bernstein reiterates Nvidia and Broadcom as outperform Bernstein said Nvidia and Broadcom are still top picks at the firm.

Persons: Deere, Truist, Bernstein, Tesla, Citi downgrades Chubb, Goldman Sachs, Goldman, Wells, Berenberg, it's, Caterpillar, Morgan Stanley, Meta, Utz, Armour, Evercore, Kevin Plank, Stephanie Linnartz, Jack, Argus Organizations: Deere, UBS, Netflix, Citi, Logitech, Barclays, Thomson Reuters, Caterpillar, Nvidia, Micron, Facebook, Raytheon, Bank of America, of America, Utz, UAA, JPMorgan, IBM, Broadcom, VMware, Argus, Oracle, Oracle Corp Locations: Williams, Sonoma

☆ This veteran investor is buying 'old economy' stocks that are embracing AI
▼ + stars: | 2024-03-09 | by ( Pia Singh | ) www.cnbc.com time to read: +5 min

Tengler named several attractively valued stocks she called the "picks and shovels" of AI, including Emerson Electric , L3Harris Technologies , Visa , Walmart and McDonald's . These companies are expected to boast continued strong growth and stock performance, aided by AI, she said. "Generative AI is much more compelling of a story than then the internet was in many ways," in terms of fueling productivity and growth, Tengler said. Walmart, another of Tengler's top "old economy" AI plays, has gained 14.4% so far this year, double the broader market. "They've benefited from embracing not just robotics and digitization, but generative AI in their e-commerce business and in improving margins," Tengler said of Walmart.

Persons: Nancy Tengler, Tengler, Berenberg, Emerson, L3Harris, Seth Seifman, They've, they've Organizations: Investments, Nvidia, Meta, Emerson Electric, L3Harris Technologies, Visa, Walmart, Aerospace, Defense Department, JPMorgan, Broadcom, Amazon, Microsoft Locations: Arizona, Friday's, Melbourne , Florida

☆ Chip stocks soar — plus, this lagging industrial is due for a catch-up trade
▼ + stars: | 2024-03-07 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. In fact, about half of the S & P 500's industrial stocks have hit records high since the start of 2024. 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, Powell, Jerome Powell, Jim, Shrugging, Eli Lilly, It's, Lilly, Cramer, Linde, TJ Maxx, we'll, Jim Cramer's, Alwyn Scott Organizations: CNBC, Federal, Qualcomm, Broadcom, Nvidia, Arm Holdings, Devices, Novo Nordisk, Club, Palo Alto, Palo, Honeywell, Aerospace, Berenberg, Eaton Corp, Burlington Stores, Marshalls, TJX Companies, Costco, Marvell Technology, Inc, Bloomberg, Jim Cramer's Charitable, Honeywell Aerospace Locations: cybersecurity, America, Phoenix

Morgan Stanley cut its price target on Tesla after trimming its profitability forecasts. The analyst has a price target of $500, which implies upside of more than 20% over the next 12 months. — Hakyung Kim 6:51 a.m.: JPMorgan raises CrowdStrike price target after earnings beat CrowdStrike is managing to grow quickly while delivering strong results, says JPMorgan. The bank upgraded the retailer to buy from hold, increasing its price target to $195 from $140. — Fred Imbert 5:40 a.m.: Morgan Stanley cuts Tesla price target 2024 will be for electric vehicles, said Morgan Stanley's Adam Jonas, who warns that Tesla could lose money this year.

Persons: Morgan Stanley, Wells, Andrew Nowinski, MongoDB, Hakyung Kim, CrowdStrike, Brian Essex, Essex, — Hakyung Kim, UnitedHealth, Andrew Mok, Mok, Berenberg, Philip Buller, Buller, Bob Jian Huang, Huang, Daniela Bretthauer, Krisztina Katai, — Fred Imbert, Morgan Stanley's Adam Jonas, Tesla, Jonas Organizations: CNBC, HSBC, Target, JPMorgan, Barclays, Medicare, Honeywell, Berenberg, Morgan Stanley Insurance, Progressive, Target . Deutsche Bank Locations: Andrew Mok ., Honeywell's, U.S, Tuesday's

☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, Nvidia, Super Micro, Honeywell, Target & more
▼ + stars: | 2024-03-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wednesday's biggest calls on Wall Street: Berenberg upgrades Honeywell to buy from hold Berenberg said the industrial conglomerate is well positioned. Roth MKM initiates Aspen Aerogels as buy Roth said it sees a "strong secular opportunity" for the insulation company. HSBC upgrades Target to buy from neutral HSBC said it likes the company's strategy following earnings on Tuesday. " Target's strategy aims to drive long-term sales growth market share gains and improve profitability Deutsche Bank upgrades Target to buy from neutral Deutsche upgraded Target following earnings on Tuesday. Argus initiates Super Micro as buy Argus said it sees "years" of growth for shares of Super Micro.

Persons: Berenberg, Morgan Stanley, Tesla, Roth MKM, Roth, JPMorgan, Wolfe, Evercore, Needham, SMCI Organizations: Honeywell, Barclays, Aspen, HSBC, Target, Deutsche Bank, Deutsche, JPMorgan, BBB, Citi, Madrigal Pharmaceuticals, Motors, RBC, EV, ISI, Bank of America, Google, Apple, Nvidia, NVIDIA, Crinetics Pharmaceuticals, Argus, Super Locations: China, Dominion

☆ Wall Street analysts think this portfolio industrial stock should be 20% higher
▼ + stars: | 2024-03-06 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer has been saying for weeks now that the economy is too strong to consider rate cuts. 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: Jim Cramer, Jerome Powell's, didn't, Powell, Locker, there's, Jeff Marks, Berenberg, Jim Cramer's, Jim Organizations: CNBC, Dow, Nasdaq, Federal, Club, Management, Wall Street, Honeywell, Berenberg Bank Locations: FL

☆ As gold scales all-time highs, Wall Street analysts say it has even further to go
▼ + stars: | 2024-03-05 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

An employee handles one kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices pushed higher Tuesday after futures pricing for the precious metal notched fresh records in the previous two sessions — with analysts seeing strength lasting at least into the second half of the year. Spot gold was trading 0.7% higher at $2,129, though market-watchers note that in real terms, adjusted for inflation, gold is well below past peaks. In a Monday note, analysts at Citi described themselves as "medium-term bullion bulls," calling a 25% probability of gold averaging a record $2,300 per ounce in the second half. Citi describes gold as a developed market "recession hedge," and increasingly see tailwinds from uncertainty around the U.S. election in November.

Persons: Donald Trump Organizations: Co, Citi, Berenberg Locations: Bangkok, Thailand, London, Ukraine, Gaza

☆ Here are Tuesday's biggest analyst calls: Nvidia, Arm, Tesla, Rivian, Netflix, Micron, Roku, Seagate & more
▼ + stars: | 2024-02-27 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Citi reiterates Snowflake as a top pick Citi said Snowflake remains a top pick at the firm. Citi reiterates Micron as buy Citi said concerns about the stock underperformance is overdone and investors should buy the dip in top pick Micron. "We reiterate our Buy rating on Micron and maintain our price target of $95.00, above its historical average given the DRAM upturn and continued upside." "We are initiating coverage of Duolingo with a Buy rating and $222 price target (12x 2025 revenues)." Citi reiterates Nvidia as a top pick Citi said it's staying long shares of Nvidia.

Persons: Morgan Stanley, Rivian, Snowflake, Berenberg, Eli Lilly, Unilever, Edward Jones, Goldman Sachs, Piper Sandler, Piper, Datadog, Yuka Broderick, Janney, Argus, Wells, VZIO, MGY, Bernstein, it's, Evercore, Davidson Organizations: Citi, US pharma, Staples, Fractyl Health, Investor Relations, Strategic Finance, American Eagle Citi, Watch, Micron, UBS, Netflix, SUN, Kroger, Industry, Deutsche Bank, Deutsche, Seaport, Bank of America, Gas, Semiconductors, Nvidia, AMD, Seagate, Bank of, underperform Bank of America, JPMorgan, Comerica, CMA

Berenberg increased its price target on Eli Lilly on the back of expected strong sales of its weight loss drug, Zepbound. The firm kept its $21 price target, saying shares are "ready to inflect" with hardware cost deflation and investment tax credit boosting growth. Danely's $820 price target on the buy-rated blockbuster chipmaker suggests 3.6% potential upside for shares since Monday's close. — Pia Singh 5:38 a.m.: Berenberg hikes Eli Lilly price target Eli Lilly has been on a tear this year, and Berenberg expects even more gains from here. Analyst Kerry Holford reiterated his buy rating on the stock and raised his price target to $850 from $680.

Persons: Berenberg, Eli Lilly, John Hodulik, Hodulik, — Pia Singh, Wells, Steven Cahall, Cahall, ROKU, Fred Imbert, BofA Evercore, James West, Christopher Danely, Danely, Goldman Sachs, Edward Jones, James Shanahan, Goldman, Marcus, Apiro Dounls, Sunoco, Kerry Holford, Holford, Zepbound Organizations: CNBC, pharma, Nvidia, Citi, Sunoco, NuStar Energy, Netflix, UBS, Vizio, CTV, ISI, BofA, BofA Evercore ISI, Bank of America, Micron Technology, NuStar, SUN Locations: Wells, Sunrun, Monday's

☆ European Central Bank posts first annual loss in two decades
▼ + stars: | 2024-02-22 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Rain falls over the finance district and the European Central Bank (ECB) in Frankfurt, Germany. The European Central Bank on Thursday reported its first annual loss since 2004, following hefty payouts due to higher interest rates. The central bank said it will carry forward the loss on its balance sheet to offset against future profits. The central bank began quantitative tightening in March 2023. There is no institution in the economy which can cope with a temporary loss better than the central bank," he told CNBC by email.

Persons: Germany's Bundesbank, Holger Schmieding Organizations: European Central Bank, ECB, Swiss National Bank, CNBC Locations: Frankfurt, Germany, Ukraine

☆ British retail rebound provides some hope for recession-hit economy
▼ + stars: | 2024-02-16 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

(Photo by Alberto Pezzali/NurPhoto via Getty Images)LONDON — Stronger-than-expected January retail sales provided a glimmer of light for the struggling British economy on Friday — and suggest that the country's recession will be short-lived, according to some economists. Sales rebounded by 3.4% from December, according to the Office for National Statistics, the strongest monthly gain since April 2021. The latest figures follow the news of Thursday that the British economy entered a technical recession in the final quarter of 2023. British retail sales meanwhile remain 1.3% below their pre-pandemic level from February 2020, according to the ONS. Kris Hamer, director of insight at the British Retail Consortium, said two months of higher sales volumes over the last three months were "promising" after 19 months of decline.

Persons: Alberto Pezzali, Joe Maher, Maher, —, Kris Hamer, Hamer, Kallum Pickering, Pickering Organizations: Charing Cross, Getty, Office, National Statistics, Reuters, Gross, Capital Economics, British Retail Consortium Locations: Charing, London, England, –

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