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5 things we're watching in the stock market in the week ahead
  + stars: | 2024-11-17 | by ( Zev Fima | ) www.cnbc.com   time to read: +10 min
October retail sales, released Friday morning, came in slightly ahead of expectations, indicating a 0.4% monthly increase, versus a 0.3% increase expected. Disney's reported strong earnings and its stock advanced more than 16% for the week as a result. In the week ahead, we will get earnings from three Club names, including the highly anticipated quarter from Nvidia, and a couple of housing market-related updates. The Street is looking for Nvidia sales of $33.1 billion in its fiscal Q3 and earnings of 75 cents per share. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Donald Trump, Friday's, Jerome Powell, Powell, That's, YTD We're, we're, Jensen, Trump, Nvidia's, Stanley Black, Decker, Jim Cramer's, Jim Cramer, Jim, Angela Weiss Organizations: Dow, Nasdaq, Federal, Fed, Disney, Depot, Nvidia, TJX Companies, Home Goods, Blackwell, Palo Alto Networks, Home Depot, Stanley, Walmart, Viking Holdings, Sonoma, WSM, Baidu, PDD Holdings, Deere & Co, Warner Music Group, Intuit, Ross Stores, CNBC, Traders, New York Stock Exchange, AFP, Getty Locations: Maxx, U.S, China, Palo, VIK, Williams, New York City
AdvertisementA Philadelphia judge has explained why he didn't shut down Musk's $1 million-a-day sweepstakes. The decision would help Musk and his America PAC move for outright dismissal of the lawsuit. Elon Musk's controversial $1 million-a-day swing state sweepstakes was never a lottery, a Philadelphia judge said in a written decision explaining why he declined to shut the program down after a hearing last Monday. Lotteries require a prize, a payment for a chance to win that prize, and for winners to be chosen at random, the judge said. Representatives for Krasner, Musk, and the PAC did not immediately respond to requests for comment on the judge's decision and next steps in the case.
Persons: Musk, Elon Musk's, Larry Krasner, Judge Angelo Foglietta, credibly, Donald Trump's, Krasner Organizations: America PAC, Philadelphia, PAC, Pleas, Department of Justice, Musk's Locations: Philadelphia, Philadelphia County, Philadelphia's, Texas, Arizona
DeSantis does not have to listen to Trump, after the two men saw their relationship fray amid DeSantis' national rise and his failed 2024 presidential campaign. “I think that pick makes a lot of sense, and would be great for Florida,” said a Trump ally who acknowledged there is interest from Trump world in seeing DeSantis appoint Lara Trump. "I have heard that too," a DeSantis ally said of Lara Trump getting in the mix for the Senate appointment. Two DeSantis advisers told NBC News that it is very unlikely DeSantis would appoint himself, even though the option remains open. “She would avoid a really nasty primary in two years.”“I’m giving her my full backing” she continued of Lara Trump, who is a North Carolina resident.
Persons: Ron DeSantis, Sen, Marco Rubio, Donald Trump, Lara, Rubio, Trump, wouldn't, Lara Trump, , DeSantis, , James Uthmeier, Trump's, Commerce Wilbur Ross, Uthmeier, James, it's, Gov, Jeanette Nunez, General Ashley Moody, Paul Renner, Jose Oliva, Laurel Lee, Susie Wiles, Wiles, Ron, I’ve, Florida Sen, Rick Scott, Marco Rubio’s, Anna Paulina Luna, Benny Johnson, “ I’m Organizations: Florida Gov, Senate, State Department, Trump, Florida Republicans, NBC, Commerce, NBC News, Republican, Florida, Gov Locations: TALLAHASSEE, Fla, Florida, U.S, North Carolina
Elon Musk is close to setting a new wealth record following a Tesla stock surge since the election. Musk's net worth hit roughly $342 billion in Tuesday's premarket, exceeding his 2021 peak. AdvertisementElon Musk is close to breaking his wealth record following Tesla's postelection rally. The world's richest person gained almost $21 billion on Monday as Tesla stock jumped 9%, boosting his net worth to $335 billion, per the Bloomberg Billionaires Index. AdvertisementTesla stock was up 41% for the year at Monday's close, leaving it some way off its record close of $410 on November 4, 2021.
Persons: Elon Musk, , Tesla's, Jeff Bezos, Donald Trump's, Mark Malek, Siebert, Trump, Warren Buffett's, Berkshire Hathaway Organizations: SpaceX, Service, Bloomberg, PAC, Associated Press Locations: premarket, Monday's, Berkshire, Musk's
The CBOE Volatility Index , known on Wall Street as the VIX, helps traders track when a market rally is actually unhealthy, said DataTrek co-founder Nicholas Colas. Monday's close for the VIX around 15 "is a healthy sign" for the temperature of the market as it advances, Colas wrote to clients. To put it succinctly: "Rallies built on an elevated VIX signal a bubble," he wrote. That's a lesson market participants learned, during the dot-com bubble of the mid- to late-1990s, he said. In the current bull market, dating back to the fourth quarter of 2022, however, the VIX has been largely "well behaved," Colas argued.
Persons: DataTrek, Nicholas Colas, Donald Trump, , Monday's, Colas, That's, Jessica Rabe, Trump Organizations: Research, U.S
The news Activist hedge fund Elliott Management on Tuesday disclosed a more-than-$5 billion stake in Honeywell —arguing the industrial conglomerate should consider a breakup. Elliott's position in Honeywell is its largest ever in a single stock, according to Bloomberg News, which first reported the activist's plans. The crux of Elliott's plan is a separation of Honeywell's aerospace and automation businesses into standalone companies. Honeywell's stock is up nearly 32% over the past five years compared with a 92% gain for the broader S & P 500 . Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jim Cramer isn't, Elliott, Honeywell —, Stacey Jones, Vimal Kapur, Jim, Honeywell, we've, We've, Jim Cramer's, Jim Cramer Organizations: Honeywell, Elliott Management, Bloomberg News, CNBC, Carrier, Wall, Robotics, Honeywell Intelligrated
It previously expected total sales to rise by between 2.5% and 3.5% for the year. Home Depot customers have continued to put off projects, even though they're in good financial shape, he said. It marked the eighth consecutive quarter of negative comparable sales at Home Depot, though the smallest drop since the string of declines began. Sales related to Hurricanes Helene and Milton contributed about one half a percentage point of sales growth to the quarter. Even as Home Depot reports modest growth, some investors have bet the company will see stronger sales in the near future.
Persons: Richard McPhail, They're, McPhail, Hurricanes Helene, Milton, Donald Trump, We've, Steve Madden, Skelly Organizations: CNBC, LSEG, Revenue, Home, Shoppers, Weather, Home Depot, Hurricanes, Federal Reserve, Depot Locations: Mexico City, Mexico, U.S, Texas, China, North America, Santa Claus
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. If management has anything positive to say about the highly profitable segment, it "would really move the stock," Jim said. 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, we've, Jim, Evercore, Stocks, Bristol Myers, Shopify, Tyson, Okta, Jim Cramer's Organizations: CNBC, Club, Home Depot, Citigroup, Analysts, Broadcom, Google, Nvidia, Disney, Evercore ISI, Netflix
Deutsche Bank anticipates more tailwinds ahead for Tesla under the incoming Trump administration. TSLA YTD mountain Shares this year Musk is already making strides in his alliance with Trump. ), we see potential large terminal value benefits to Tesla's efforts in auto, robotaxi, and even humanoid robotics," wrote Yu. Yu views China as the biggest potential uncertainty for Tesla as the Trump administration touts tariffs on goods from the world's second-largest economy. A repeal of the Biden administration's Inflation Reduction Act could also benefit shares of Tesla and give it an edge over legacy automakers General Motors and Ford.
Persons: Trump, Elon's Musk, Donald Trump, bode, Edison Yu, JD Vance, Yu, Tesla Organizations: Deutsche Bank, Tesla, Trump . Deutsche Bank, Trump, White House, Biden, General Motors, Ford Locations: China
Live Nation Entertainment — Shares jumped 5% after the live music and entertainment company posted an earnings beat for the third quarter. Twilio — Shares moved 1.7% higher following an upgrade at Wells Fargo to overweight from equal weight. IAC — Shares rose 3% on news that IAC its weighing a spinoff of home improvement marketplace Angi. Shares rose more than 4% last week on the heels of the president-elect's victory. SentinelOne — Shares rose 1.6% after Deutsche Bank upgraded shares to buy from hold, saying the July outage related to CrowdStrike can help add to SentinelOne's momentum.
Persons: Elliott, Twilio, bitcoin, Robinhood, Microstrategy, Okta, — CNBC's Hakyung Kim, Michelle Fox, Lisa Han, Sarah Min, Jesse Pound Organizations: Honeywell —, Elliott Management, Honeywell, Aerospace, Automation, IAC, Trump Media & Technology, Deutsche Bank Locations: Wells
Two US Navy destroyers came under attack by the Houthis on Monday. The destroyers USS Stockdale and USS Spruance came under fire as they were transiting the Bab al-Mandab Strait, a strategic maritime chokepoint between the Red Sea and the Gulf of Aden. The Navy repelled multiple Houthi attacks involving at least three anti-ship cruise missiles, five anti-ship ballistic missiles, and eight one-way attack drones, Pentagon Press Secretary Air Force Maj. Gen. Pat Ryder told reporters at a press briefing Tuesday. Earlier, the Houthis said they attacked the aircraft carrier USS Abraham Lincoln in the Arabian Sea and two unnamed American destroyers in the Red Sea. The attack against the destroyers on Monday marks the latest Houthi attack on Navy warships off the coast of Yemen.
Persons: , Stockdale, Spruance, Pat Ryder, Sea Ryder, Abraham Lincoln, Arleigh Burke, ENS Abu Qir, Ryder, Lincoln, 8Y4yqsAepd, Michael Erik Kurilla Organizations: US Navy, Pentagon, Service, Navy, Pentagon Press, Air Force, Sea, Egyptian Navy, . US Navy, Lincoln, US, Command, Aircraft, U.S . Central Command Locations: Iran, Yemen, Mandab, Aden, Red, Egyptian Navy El Suez, U.S, Gulf of Aden, Israel, Syria
Watch Monday's full episode of Fast Money — November 11, 2024
  + stars: | 2024-11-11 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Monday's full episode of Fast Money — November 11, 2024"Fast Money" is America's post-market show. Hosted by Melissa Lee and a roundtable of top traders, "Fast Money" breaks through the noise of the day, to bring you the actionable news that matters most to investors.
Persons: Melissa Lee
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Wall Street firm Jefferies boosted its Salesforce price target to $400 per share from $350, implying 40% updside from Friday's close. 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 . Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m.
Persons: Jim Cramer, Jeff Marks, Jefferies, Marks, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Devices, Broadcom, Nvidia, Wall Street, Federal Reserve, Jim Cramer's Charitable Locations: Friday's
S&P 500 and Nasdaq 100 futures each also ticked down about 0.1% each. Monday's action comes amid a market upswing that began following last week's presidential election won by Donald Trump. The Dow gained more than 300 points to close higher than 44,000, while the S&P 500 finished the session just over 6,000. "It's a lot of what we saw back in 2016 when Trump won the election the first time." The release of data from these inflation gauges comes after the Fed last week announced another interest rate cut.
Persons: that's, Donald Trump, Russell, Larry Tentarelli, They'll, Christopher Waller, Neel Kashkari Organizations: Dow Jones Industrial, Nasdaq, Dow, Trump, Federal, Fed, Minneapolis Fed, Home
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Monday's full episode of the Halftime Report — November 11, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.
Persons: CNBC's Scott Wapner Organizations: CNBC PRO
Jeff Kowalsky | Bloomberg | Getty ImagesDETROIT — General Motors is proving it's a standout among automakers this year as it continues to consistently outperform Wall Street's earnings expectations and its competitors. For the most part, GM stock has traded in lockstep with Ford due to their histories and the cyclical nature of the automotive industry. Ford stock is off 10% as of Friday's close. Others, including Ferrari , which has been among Wall Street's top auto performers, are also trailing GM. Shares of GM under Barra, who started leading the automaker in January 2014, have been lackluster for investors for most of her tenure.
Persons: Mary Barra, Jeff Kowalsky, John Murphy, Wall, it's, Donald Trump, Elon Musk Organizations: General Motors Co, Bloomberg, Getty, DETROIT —, Detroit, Rivian, BofA Securities, GM, Ford Motor, Chrysler, General, Ford, Ferrari, Tesla, U.S, Trump . General Motors, Hyundai, Toyota, Honda, Volkswagen, Nissan, Barra Locations: Detroit , Michigan, U.S, lockstep
Piper Sandler names Nvidia a top pick The firm said Nvidia is a new top pick. Morgan Stanley reiterates Dell as overweight Morgan Stanley raised its price target on Dell to $154 per share from $136. Morgan Stanley reiterates Nvidia as overweight The firm raised its price target on Nvidia to $160 per share from $150. Wedbush reiterates Tesla as outperform The firm said Tesla remains well positioned. "We are raising our price target on Tesla to $400 from $300 as we believe the Trump White House win will be a gamechanger for the autonomous and AI story for Tesla and Musk over the coming years."
Persons: Wedbush, Piper Sandler, Bernstein, BURL, Morgan Stanley, Dell, DELL, Wolfe, underperform Wolfe, We've, WBD, Blackwell, Cabot, Tesla, Raymond James downgrades Bloomin, Raymond James Organizations: UBS, Vale, Nvidia, Blackwell, Citi, Apple, JPMorgan, Dell, Warner Bros, NBA, Deutsche Bank, Cisco, Orion, Trump White House, Bank of America Locations: China, Burlington, Brazil
Cheap stocks still remain for investors to buy, despite the equity market persisting near its all-time highs. Strong economic growth and the commencement of an interest rate reduction cycle have propelled stocks to new heights this year, with the benchmark S & P 500 index up 21% in 2024, as of Tuesday's close. CNBC Pro recently screened data from LSEG to find the stocks in the S & P 500 that are currently priced at a discount and could see outperformance going forward. Industrial company 3M has already risen 38% this year but could climb another 15%, according to its average price target. Other names on the list of cheap but promising stocks included technology titan Alphabet , conglomerate Berkshire Hathaway and airline carrier United Airlines .
Persons: Wells Fargo, TD Cowen, Ryan Langston Organizations: Dow Jones Industrial, Nasdaq, CNBC Pro, Citigroup, Universal Health Services, SDP, Universal Health Services . Industrial, 3M, LSEG, Berkshire Hathaway, United Airlines Locations: Monday's
Conan O'Brien said he experienced burnout while working as a writer at "Saturday Night Live." The former talk show host said he regrets being "too intense" at his job. AdvertisementConan O'Brien regrets being so intense while working as a writer on "Saturday Night Live." "I was burned out, and I said, like, I've got to go," said O'Brien, who worked at SNL from 1988 to 1991. O'Brien is not the first to have opened up about the stressful nature of working at SNL.
Persons: Conan O'Brien, , Tom Hanks, I've, O'Brien, Andy Samberg, Kevin Hart's Peacock, Hart, Rachel O'Neill, Anaïs, Imani Ellis Organizations: Service, SNL, Business Insider, Health, BI
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Tuesday's, DuPont, Bernstein, Jim, Eaton, Tom Jorden, Jorden, Coterra, Donald Trump, Stocks, Jim Cramer's Organizations: CNBC, Nasdaq, DuPont, Club, Coterra Energy, Brands Locations: Eaton
Artificial intelligence tailwinds could mean more gains ahead for Celestica , according to Barclays. The investment bank initiated coverage on the stock with an overweight rating, and its price target of $91 implies nearly 26% upside from Monday's close. Not only that, Celestica's gains are bolstered by an upcoming upgrade cycle in hyperscaler bandwidth technology, which is where the company already has a leading market share, Wang also said. "CLS is strongly positioned in the 800G upgrade cycle, enabling hyperscaler customers to transition from 400G to 800G," he continued. CLS YTD mountain CLS, year-to-date Shares of the company have been on a massive rally this year, as the stock has gained more than 159%.
Persons: George Wang, Wang, It's Organizations: Celestica, Barclays, CLS, Google
Bernstein thinks investors shouldn't give up on eBay despite a recent sell-off. For 2026, Devnani thinks that can expand to 3%. With earnings per share and margins set to expand as a result of this, the analyst believes that a recent sell-off provides an attractive entry point for investors. EBAY YTD mountain EBAY, year-to-date Last week, the stock fell 8% on the heels of a weaker-than-expected forecast for the current quarter . Of the 34 analysts covering eBay, 22 have a hold rating on it; 10 others rate it a buy or strong buy.
Persons: Bernstein, shouldn't, Nikhil Devnani, Devnani Organizations: eBay, EBAY
With Election Day upon us, many investors are wondering how to, or if they even should, position their stock portfolios ahead of knowing who the next president will be. Indecision will hurt the stock market, not destroy it, but bruise it because the only thing markets really hate is uncertainty." Jim also wrote Sunday that the stock market will more than likely be just fine no matter who wins the presidency. Bottom line A quick and decisive presidential election outcome — one way or the other — is what's best for the stock market. Combination with Former President and Republican Presidential Candidate Donald Trump (L), and Vice President and Democratic Presidential Candidate Kamala Harris.
Persons: Donald Trump, Kamala Harris, That's, Joe Biden, Jim Cramer, Jim, we've, Barack Obama, Biden, George W, Bush, Richard Nixon, Jim Cramer's Organizations: NBC News, Democratic, Republican, Trump, JPMorgan, Dow, Nasdaq, Federal Reserve, Jim Cramer's Charitable, CNBC
Due to this, Piper Sandler has unveiled a list of stocks that it views as most sensitive to government spending. "If Trump wins, these stocks are likely to be hurt by cuts in government spending," Piper Sandler's chief investment strategist Michael Kantrowitz said in a recent note to clients. The company was the top recipient of defense contracts from the Department of Defense in fiscal 2023, being awarded $61.4 billion in defense spending. During September's presidential debate, Trump clashed with Harris over funding efforts, with Harris accusing Trump of being prepared to abandon consistent U.S. support for Ukraine . In that area, Humana , which offers Medicare Advantage plans, and UnitedHealth are two names Piper Sandler thinks could be affected.
Persons: Trump, Donald Trump's, Elon Musk, Musk, Piper Sandler, Piper, Michael Kantrowitz, Kamala, Harris, machinists, Lockheed Martin Organizations: U.S, SpaceX, Republican, Trump, Boeing, Lockheed, Department of Defense, Ukraine, Humana Locations: U.S
A Pennsylvania judge on Monday declined an effort by the Philadelphia district attorney to stop Elon Musk’s America PAC from doling out cash prizes to registered voters. The judge's injunction means Musk's PAC will be able to do one last giveaway on Tuesday, the last day of the offer. The America PAC giveaway has promised million-dollar checks to some voters and $47 and $100 payments to other registered voters who signed a political pledge in swing states. Philadelphia District Attorney Larry Krasner sued Musk and America PAC last month, alleging that the giveaways were an illegal, unregulated lottery, but at a hearing Monday, America PAC attorney Chris Gober said it wasn’t a lottery because winners aren’t determined by chance. Musk’s legal team delayed this hearing last week, filing to move the case to federal court.
Persons: Larry Krasner, Musk, Chris Gober, Gober, John Summers, , ” Krasner, Andy Taylor, Organizations: Elon Musk’s America PAC, America PAC, Philadelphia Locations: Philadelphia, Michigan, Pennsylvania
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