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Carpenter Technology has multiple avenues of growth over the next few years, according to JPMorgan. Analyst Bennett Moore initiated coverage of the U.S.-based stainless steel and alloys manufacturer with an overweight rating and a price target of $220. "Shares have rallied ... on the back of strong demand, solid execution, and an attractive earnings outlook, and we feel the company is well positioned to capture further upside," Moore said in a Thursday note. Moore's investment thesis is built on the company's robust demand for its mostly customer-specific premium products, which he said gives Carpenter strong pricing power and supported its position as an "indispensable supplier." Carpenter Technology steel alloy making.
Persons: Carpenter, Bennett Moore, Moore, Tim Leedy Organizations: Carpenter Technology, JPMorgan, Carpenter's, Medianews, Getty Locations: U.S
The interest rate outlook will come back into focus next week with key inflation data and Federal Reserve meeting minutes coming out ahead of Thanksgiving, as investors wrap up a major month for markets following President-elect Donald Trump's election victory. The October personal consumption expenditure (PCE) price index set to release Wednesday could dent already-dimming hopes for a December rate cut if it comes in hotter than expected. The inflation rate is expected to have increased 0.2% month over month and 2.3% year on year. Rosy expectations Even with the interest rate cut expectations coming in, investors are optimistic on the direction for stocks to close out the year and into 2025. Goldman Sachs' David Kostin this week said he expects the S & P 500 can end next year at 6,500.
Persons: Donald Trump's, , Luke O'Neill, Stocks, O'Neill, Goldman Sachs, David Kostin, Morgan Stanley's Mike Wilson, Brian Belski, Tom Hainlin, Jeff Cox Organizations: Federal Reserve, Alpha Fund, Nasdaq, Dow Jones, BMO, UBS, Bank Asset Management, Dell Technologies, Chicago, New, Richmond Fed, Devices, Autodesk, PCE Deflator, Chicago PMI Locations: U.S, Chicago
The S & P 500 has now seen seven consecutive weeks of inflows, keeping the post-election momentum intact. I want to use the S & P 500 SPDR Trust ETF (SPY) to hedge these gains and bet against the consensus of markets finishing the year on a high note. SPY YTD mountain SPDR S & P 500 ETF Trust, YTD Investors have rejoiced with expectations for a more business-friendly economy ahead following President Elect Donald Trump's victory in early November. My short-term view of a shallow repricing in the S & P 500 might come to fruition now that we have Nvidia's earnings in the rearview mirror. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.
Persons: Donald Trump's, Long Organizations: Bank of America, SPDR, Trust, YTD Investors, Treasury, CNBC, NBC UNIVERSAL
Senator Chuck Schumer, the New York Democrat and majority leader for a few more weeks, is not known for keeping his thoughts to himself. “We’re going to wait and see what happens in each of these instances before commenting,” Mr. Schumer told reporters this week, passing up a television camera-ready opportunity he would normally grab to slip a knife into any of the president-elect’s cabinet picks. He is keeping quiet for a reason, and it is not because he does not have opinions on President-elect Donald J. Trump’s administration in the making. Mr. Schumer does not want Republicans to be able to paint him as the face of the opposition, a prospect that could help rally the G.O.P. around Mr. Trump’s choices.
Persons: Chuck Schumer, Trump, “ We’re, ” Mr, Schumer, Donald J, Matt Gaetz, Pete Hegseth, Mr Organizations: New York Democrat, Fox News Locations: Mar
AdvertisementRed Lobster recently introduced a revamped menu with no "endless shrimp." Red Lobster's new CEO said the chain's revamped menu — which no longer includes its infamous "endless shrimp" promotion — has already started to help turn things around at the struggling company. In 2023, the long-running chain made the once-limited-time offer of $20 endless shrimp a permanent menu fixture in an effort to get more customers in the door. Advertisement"Countless people grew up going to Red Lobster at important times in their lives," Adamolekun told the outlet. Advertisement"There's been so much turmoil around the business that some people just opted out," Adamolekun told Bloomberg.
Persons: Red, , Damola Adamolekun, Adamolekun, hadn't Organizations: Bloomberg, Street Journal
Investors should brace themselves for another big move next year, according to an analysis of historical data from Bank of America. The S & P 500 is up 24.7% in 2024 and on track for its second straight year with a gain of more than 20%. After rising 31% and 38% in 1927 and 1928, respectively, the S & P 500 lost 12% in 1929 and another 28% in 1930, Hartnett said. The last time the S & P 500 posted back-to-back 20% annual gains was in the 1990s, soaring 34% in 1995 and 20% in 1996. Hartnett noted that the "secret sauce" for the S & P 500 to avoid some of the sharp reversals seen before is a decline in Treasury yields.
Persons: Michael Hartnett, wasn't, Hartnett, Donald Trump, Goldman Sachs, Goldman Organizations: Bank of America Locations: U.S
Sexual misconduct allegations against Matt Gaetz had drawn scrutiny after Mr. Trump said he wanted to nominate him for attorney general. Mr. Trump moved quickly to replace Mr. Gaetz with another conservative favorite. Federal prosecutors ultimately dropped the case against Mr. Gaetz, but their chart of payments was obtained by the ethics committee, which was investigating whether Mr. Gaetz had sex with the woman when she was underage. After she turned 18, Mr. Gaetz paid for sex with her on at least two other occasions, the person said. Mr. Trump seemed attracted to Mr. Gaetz as attorney general especially because of the former congressman’s willingness to blow things up.
Persons: Matt Gaetz, Trump, Donald J, Gaetz, Pam Bondi, Gaetz’s, Pete Hegseth, Robert F, Kennedy Jr, Vance, Mr, ” Mr, “ Matt, Jean Carroll, Hegseth, Kennedy, Elon Musk, Linda McMahon, JD Vance, , , Todd Blanche, Blanche, implacably, Lisa Murkowski, Susan Collins of, Mitch McConnell of, John Curtis of Utah, Collins, McConnell, Murkowski, Curtis, John Cornyn, Kevin Cramer, Ginger Luckey, Kevin McCarthy, Andrew Bailey, Robert J, Giuffra Jr, Cromwell, Boris Epshteyn, Marco Rubio, Trump’s, Tim Balk, Michael Gold, Michael C, Bender, Karoun Demirjian, Robert Draper, Catie Edmondson, Maya C, Miller, Michael S, Schmidt, Noah Weiland Organizations: Senate, Justice Department, Republicans, Fox News, Trump, DOJ, Mr, SpaceX, World Wrestling Entertainment, Capitol, Republican, Fort Walton, Florida Panhandle, New York Times, Wednesday, The Times, CNN, Sullivan, Department, Justice, Alcohol, Tobacco, Firearms, Explosives, 119th Locations: Florida, Washington, Ohio, Monterey , Calif, Manhattan, Alaska, Susan Collins of Maine, Mitch McConnell of Kentucky, Texas, North Dakota, Fort, Fort Walton Beach, Missouri, New York
CNN —An explosives disposal team was sent to London’s Gatwick Airport and one of its terminals evacuated after a “suspected prohibited item” was found in luggage on Friday. “A security cordon is in place around the South Terminal at Gatwick Airport following discovery of a suspected prohibited item in luggage,” Sussex Police wrote in a statement posted on X just after midday local time (7 a.m. “Police were called at 8.20am this morning and, as a precaution, an EOD (Explosive Ordnance Disposal) team is being deployed,” the statement continued, advising the public to avoid the area. “We can confirm that the ‘loud bang’ reported in the area a short time ago was a controlled explosion carried out by officers,” it said in a statement posted on X on Friday morning. ET), it said, “Initial indications are that the item was a hoax device.
Persons: Stephanie Halasz, Zahid Mahmood Organizations: CNN, Gatwick Airport, Sussex Police, “ Police, , London’s Metropolitan Police
LONDON — European stocks are expected to open higher on Friday, as investors closely monitored further escalations in the Russia-Ukraine war. It comes after the pan-European Stoxx 600 index snapped a four-session losing streak to close around 0.5% higher on Thursday. Gold prices extended gains on Friday and were on course for their best week in a year amid concerns over the conflict. Asia-Pacific markets mostly rose on Friday, tracking gains on Wall Street that saw the S&P 500 index log gains for a fourth straight day. U.S. stock futures edged higher overnight, on track to end the week with gains across the three major averages.
Persons: Germany's DAX, Vladimir Putin Organizations: France's CAC, IG Locations: Russia, Ukraine, Kyiv, Ukrainian, Dnipro, Asia, Pacific
Reddit — The stock fell 6% after Bloomberg, citing a person familiar with the matter, reported that Advance Magazine Publishers is looking to establish a credit facility using as much as $1.2 billion of its stake in Reddit. Gap — The stock jumped more than 10% on the heels of the clothing retailer increasing its full-year outlook — its third time doing so this year. Super Micro Computer — Shares moved more than 11% higher, extending its more than 15% gain in the previous session. Intuit — Shares of the financial software company fell 4% after the release of its fiscal first-quarter report. StoneCo — Shares jumped about 10% after the Brazilian payments company announced a share repurchase program of up to 2 billion reais .
Persons: LSEG, Ross, Needham, bitcoin, , Alex Harring, Jesse Pound, Michelle Fox Organizations: Bloomberg, Advance Magazine Publishers, BDO, Nasdaq, Intuit —, Intuit, LSEG, Carpenter Technology, JPMorgan, . Texas Pacific, Marathon Oil, ConocoPhillips Locations: Reddit
Markets: The stock market is wrapping up a good week, with the S & P 500 on Friday pacing for its fifth straight session of gains. Next week: It's a holiday-shortened week with markets closed Thursday for Thanksgiving and closed early (1 p.m. 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, industrials, Coterra, We're, Blackwell, CrowdStrike, Robert F Kennedy, we'll, JM Smucker, Jim Cramer's, Jim Organizations: CNBC, ., Walmart, Costco, Utilities, Nvidia, Coterra Energy, Technology, Enterprise, Department of Health, Human Services, Department of Justice, Google, Chrome, Burlington Stores, Dick's Sporting Goods, JM, Abercrombie, Fitch, Dell Technologies, HP Inc, Federal, Jim Cramer's Charitable, Traders, New York Stock Exchange, NYSE Locations: New York City
Washington state is reeling following a powerful “bomb cyclone” that left two dead, knocked out power to half a million at its peak and downed trees and power lines. The Pacific Northwest was battered by the storm, which formed off the coast Tuesday and brought high winds, rain and heavy mountain snow to Washington. ET Thursday, there are over 320,000 customers without power in Washington, according to PowerOutage.Us. Meanwhile, a strong atmospheric river event is also impacting Northern California and southwestern Oregon, with flood watches in effect for 2 million people. This will lead to storm totals of 12 to 16 inches by the time the storm winds down by the weekend.
Persons: Tiffani Palpong, Mathieu Lewis, Rolland, Getty, It’s Organizations: Puget Sound Energy, PT, Rockies, National Weather Service, Golden State, Atmospheric Administration, Acorn Locations: Washington, Pacific, Seattle, Lynnwood, South County, Snohomish County, Bellevue, Lake Stevens, Oregon, Northern California, Mattole, California, , California, Austin Creek, Area , California
Icelandic volcano erupts for seventh time in a year
  + stars: | 2024-11-21 | by ( ) www.nbcnews.com   time to read: +3 min
A volcano near Iceland’s capital erupted late on Wednesday for the seventh time in a year, spewing fountains of lava and smoke, the country’s meteorological office said, but there were no disruptions to air traffic or infrastructure. The eruption started with little warning at 11:14 p.m. local time Wednesday and created a fissure just under two miles long. The activity is estimated to be considerably smaller than the previous eruption in August, Iceland’s meteorological office that monitors seismic activity said. The first signs of an eruption were recorded just 45 minutes before a massive ground fissure was opened by magma forcing its way through the earth’s crust, Iceland’s meteorological office said. However, there had been no noticeable increase in seismic activity in recent weeks, the meteorological office said.
Persons: , , RUV, ” Magnús Tumi, Reykjanes Organizations: Social, Authorities, Civil Protection, Keflavik Locations: Iceland’s, Reykjavik, Grindavik, Iceland
Stock futures edged lower on Thursday evening with Wall Street poised to end the week with gains in the three major averages. S&P 500 futures dipped 0.1%, while Nasdaq 100 futures were lower by 0.3%. All three major averages are on track for a positive week, led by the Nasdaq Composite's gain of 1.56%. That's a change from last week, when Wall Street's postelection rally appeared to stall. Shares of Gap jumped 15% after the company beat earnings estimates and hiked its full-year sales guidance.
Persons: Wall, Saira Malik Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Nvidia, market's, Intuit Locations: New York City
The stock market has always pulled back when valuations are stretched as they are now, according to Deutsche Bank macro strategist Henry Allen in a note to clients this week. "[T]urning points can happen quickly, and … when valuations are stretched to start with, there can be limited scope for further gains," Allen noted. "[E]xamples of high returns through history have often been followed by sizeable reversals." The bank cited lofty current readings in the Cyclically Adjusted Price-to-Earnings (CAPE) ratio developed by economist Robert Shiller, arguing that "the CAPE ratio for the S&P 500 has only been higher on two other occasions in the last century" than it is today. "Indeed, on both the occasions the CAPE ratio has got as high as it is today, there was then a significant correction."
Persons: Henry Allen, Allen, Robert Shiller, — Scott Schnipper Organizations: Deutsche Bank
CNN —A volcano near Iceland’s capital erupted on Wednesday night, becoming the seventh such event in the area since December. The length of the fissure on the volcano, located in Iceland’s Reykjanes Peninsula in the southwest of the country, is estimated to be approximately 3 kilometers (1.9 miles), according to the Icelandic Met Office. A new volcanic eruption that started on the Reykjanes Peninsula in Iceland, Wednesday, Nov.20, 2024. A geothermal power plant and the two hotels at the world-famous Blue Lagoon were evacuated. The Blue Lagoon has been repeatedly forced to close due to volcanic activity over the past year.
Persons: Marco di Marco, Snorri Valsson Organizations: CNN, Icelandic Met Office, AP, Icelandic Tourist Board Locations: Iceland’s, Iceland’s Reykjanes, Iceland, Grindavík, Reykjanes, North America, Europe
While the S & P 500 and Nasdaq 100 have both pushed to new all-time highs in November, market breadth indicators have mostly not confirmed those recent highs. Market breadth indicators like these are equal-weighted, meaning they simply count the number of stocks fulfilling a certain requirement. The change in that indicator over the last six weeks tells us that about 20% of the S & P 500 members have registered a sell signal on their point & figure charts! This chart shows the percent of stocks above their 200-day moving average, as well as the percent of stocks above their 50-day moving average as we quoted above. The S & P 500 continues to make higher lows, but a push below 5,850 would break that pattern which has been in place since August.
Persons: David Keller Organizations: Nasdaq, CMT, CNBC, NBC UNIVERSAL
There's no denying how important Nvidia is to the stock market. Stock futures followed Nvidia's lead, riding slight losses at the time. In that time, stock futures recovered their earlier losses and were last up around 0.5%. Many firms lifted their price targets on the chipmaker, including Citi, Wells Fargo and Bernstein . Elsewhere Thursday morning on Wall Street, Wells Fargo initiated GE Vernova as overweight, citing growing power demand from artificial intelligence.
Persons: Nvidia's, Wells Fargo, Bernstein Organizations: Nvidia, Barclays, Bank of America, Citi, GE Vernova Locations: Wells Fargo
Here's why dollar stores are hurting
  + stars: | 2024-11-21 | by ( Ryan Baker | Tala Hadavi | Melissa Repko | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why dollar stores are hurtingThe dollar store industry has historically done well when the consumer was under pressure. And so, in the decade that followed the Great Recession, Dollar General and Dollar Tree outperformed the S&P 500. But the current economic environment is playing out differently as both companies face competition in e-commerce and have been burdened with a number of operational challenges. Watch the video to find out why the share price of both stocks have plunged more than 50% in the past couple of years.
This booming period marked by strong economic growth and robust market returns could extend into 2025, according to UBS, which is calling for the S & P 500 to rise as high as 7,000 in its most optimistic, bullish case. "The market and economic developments have led some to term the decade so far as the 'Roaring 20s,' marked by high economic growth, strong market returns, and improving productivity," Mark Haefele, UBS Global Wealth Management chief investment officer, said in a note to clients. .SPX YTD mountain S & P 500 The Wall Street bank set its base case of a 6,600 S & P 500 target for 2025, or about 10% upside from current prices. For its bull case, the equity benchmark could climb to 7,000 by year end 2025, a 16% gain from current levels. The S & P 500 appears set to wrap up a strong 2024 with a bang, thanks to optimism toward President-elect Donald Trump 's market-friendly policies.
Persons: Mark Haefele, Donald Trump, Haefele Organizations: UBS, UBS Global Wealth Management
President-elect Donald J. Trump said on Thursday that he would nominate Pam Bondi to be attorney general, turning to a longtime loyalist who served as state attorney general in Florida to put his stamp on a Justice Department that he sees as politically hostile to him. Mr. Trump announced her selection hours after his first choice, Matt Gaetz, withdrew from consideration amid a growing consensus that he could not be confirmed by the Senate because of allegations that he had taken part in drug-fueled sex parties. Mr. Trump has been keen to install a close ally to head the Justice Department, which he has vowed to purge of what he calls “deep state” foes — suggesting an end to a longstanding practice of Justice Department criminal investigations operating independent of White House direction or interference. Ms. Bondi, 59, served on Mr. Trump’s legal team during his first impeachment and currently leads the legal arm of the America First Policy Institute, a right-wing think tank that has kept close ties to Mr. Trump’s transition team. Ms. Bondi oversaw the filing of voting-related lawsuits in battleground states.
Persons: Donald J, Trump, Pam Bondi, Matt Gaetz, Bondi Organizations: Justice Department, America, Policy Institute Locations: Florida, Bondi
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFrom debt point of view, we are seeing attractive spread levels globally: J.P. Morgan's ReschkeMatthias Reschke, J.P Morgan's head of European investment grade finance, discusses the debt and credit landscape ahead of J.P. Morgan's inaugural European Financials Conference.
Persons: Morgan's Reschke Matthias Reschke, J.P Organizations: Morgan's, Financials Conference Locations: J.P
Here’s five things to know for Week 12:Your Super Bowl favorite: the Detroit LionsFor the first time ever, the Detroit Lions are the favorites to win the Super Bowl. The games are obviously very hard always and tough to win and just rewind a week ago at Houston, how hard that win was. Head coach Kyle Shanahan was asked if there is anything to the Super Bowl hangover and said: “I don’t think there is an answer about a journey or Super Bowl hangover. The 49ers suffered their fifth loss of the season in Week 11 at the hands of Geno Smith (right) and the Seattle Seahawks. Steelers QB Russell Wilson has previously won a Super Bowl during his time with the Seahawks and lost in another.
Persons: oddsmakers, Jared Goff, Goff, , , we’ve, It’s, David Reginek, Geno Smith scampered, Kyle Shanahan, Geno Smith, David Gonzales, Patrick Mahomes, Mahomes, ” Mahomes, won’t, Isiah Pacheco, – they’ve, Bryce Young, Chris Boswell, Russell Wilson, ” Wilson, it’s, I’ve, Harbaugh, John, Jim Harbaugh, Jim, Organizations: CNN, Fantasy, NFL, Atlanta Falcons, Buffalo Bills, Cincinnati Bengals, Jacksonville Jaguars, New, New Orleans Saints, New York Jets, Detroit Lions, Lions, Kansas City Chiefs, NFC, Houston Texans, Indianapolis Colts, Sunday, Jaguars, Reuters, San Francisco 49ers, Seattle Seahawks, Niners, 49ers, Green Bay Packers, Bills, USA, Reuters Chiefs, Chiefs, Kansas, Carolina Panthers, Panthers, Steelers, Bengals, Baltimore Ravens, Pittsburgh Steelers, Ravens, Baltimore, Browns, Football, Pittsburgh, Seahawks, Seattle, Jim’s Niners, Chargers, AFC, Cleveland Browns, Minnesota Vikings, Chicago Bears, Tennessee Titans, . Houston Texans –, New England Patriots, . Miami Dolphins –, Tampa Bay Buccaneers, . New York Giants, Dallas Cowboys, . Washington, Denver Broncos, Las Vegas Raiders, Arizona Cardinals, Seattle Seahawks –, Philadelphia Eagles, Los Angeles Rams, Los Angeles Chargers Locations: New Orleans, Detroit, Houston, Wisconsin, Buffalo, Kansas City, Carolina, Cleveland, Pittsburgh
Where to watch The Sex Lives of College Girls in the USAll seasons of The Sex Lives of College Girls are available to stream on Max in the US. Check price at MaxWhere to watch The Sex Lives of College Girls in CanadaCrave is the streaming home of The Sex Lives of College Girls in Canada. Where to watch The Sex Lives of College Girls in the UKSeasons 1 and 2 of The Sex Lives of College Girls are available to stream on ITVX in the UK. Where to watch The Sex Lives of College Girls in AustraliaThe Sex Lives of College Girls streams on Binge in Australia. Check price at ExpressVPNThe Sex Lives of College Girls Season 3 trailerMax dropped the official Season 3 trailer at the end of October.
Persons: We've, Mindy Kaling, Justin Noble, Pauline Chalamet, Alyah Chanelle Scott, Amrit Kaur, Reneé Rapp, Rapp, She'll, Max, hasn't, ExpressVPN, Chappell, Kimberly, Bela Organizations: Business, College Girls, Essex College, Max, College, Whitney Locations: Canada, Australia, Leighton
CNN —A musical gem was recently uncovered from the vaults of the Luther Vandross Estate — a soulful, never-before-heard rendition of The Beatles’ song “Michelle.”The cassette tape was simply labeled June 1, 1989. On Thursday, a new music video of Vandross’ rendition of “Michelle” is set to debut on YouTube. This discovery adds to a catalog of musical milestones that solidified Vandross as an R&B genre-defining artist. The Beatles’ “Michelle,” written by John Lennon and Paul McCartney, won the Grammy for song of the year in 1967. His life and entertainment career are celebrated in the upcoming CNN film “Luther: Never Too Much,” directed Dawn Porter.
Persons: Luther Vandross, Michelle, , Vandross, “ Michelle ”, Vandross ’, Fonzi Thornton, Dionne Warwick, David Bowie, Aretha Franklin, Mariah Carey, Michelle ”, Darrin James, Lee’s, “ Michelle, John Lennon, Paul McCartney, , ” Thornton, “ Luther, Dawn Porter Organizations: CNN, YouTube, French, Sony Music
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