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☆ Andy Sieg is quickly shaking up Citi's wealth business. At least 21 senior execs have left since his arrival.
▼ + stars: | 2024-06-10 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

But the leadership of its ailing wealth unit is continuing to undergo major changes under its new boss Andy Sieg. Citi's wealth unit has seen at least 21 senior executives exit since Merrill Lynch veteran Sieg joined in September. The latest is Julia Carreon, global head of wealth platform and experiences. Sieg also plans to expand Citi's already successful wealth business in Asia. Here is our running list of senior departures from Citi Wealth.

Persons: —, Andy Sieg, Merrill Lynch, Sieg, Julia Carreon, Naz Vahid, Carreon, David Bailin, Fraser, Andy, Mark Mason, Shyam Sambamurthy, Merrill, Don Plaus, Hale Behzadi, Dawn Nordberg, Morgan Stanley, Citi David, Francesco Bertoni, Alfonso Camacho Bustillo, Hoyt, Paul Hodes, Robert Hoffman, Keith Lee Hong, Li, Liu, Fernando Lopez Munoz, Alex Marshall, Eduardo Martinez Campos, Luigi Pigorini, Fernando Senso, Jeff Sutton, Naz, Vahid, Eduardo, Seamus Yin, Hayley Cuccinello Organizations: Service, Citi, Citi Wealth, Business, Bankers, Citi Global Wealth, North America, Francesco Bertoni EMEA, Hoyt Gier Global, South, Asia, Fernando Lopez Munoz Head, Tate, Eduardo Martinez Campos Head, Mark Mills Regional, Fernando Senso Castilla Global, Jeff Sutton Global, Eduardo Ventura, West Locations: Asia, Hong Kong, Singapore, Paul Hodes Asia, South Asia, Keith Lee Hong Kong, Asia Pacific, Shyam Sambamurthy South Asia, Fernando Senso Castilla, America, West China, hcuccinello@businessinsider.com

Apple 's about to kick off its annual Worldwide Developer's Conference where it's expected to announce its plans for AI. The company is expected to announce a partnership with OpenAI and reveal "Apple Intelligence," according to recent reports from Bloomberg. We'll also hear about the latest software updates for the iPhone, Mac, iPad, Apple TV and Apple Watch. Apple typically releases that software in developer preview ahead of a full launch for consumers sometime in the fall with the launch of the new products. You can also watch the live stream here:

Persons: OpenAI, WWDC, We'll, Craig Federighi, Atif Malik Organizations: Apple, Apple Intelligence, Bloomberg, Apple Watch, Citi Locations: Pacific

☆ A working-class immigrant neighborhood in Queens banned cars along a major road. The new park is a 'superhighway of kids and families and neighbors.'
▼ + stars: | 2024-06-09 | by ( Eliza Relman | ) www.businessinsider.com time to read: +10 min

Just a few years ago, that same road — 34th Avenue — was a traffic-clogged artery. The 34th Avenue Open Street is 26 traffic-restricted blocks with a handful of entirely car-free plazas outside schools. Thousands of students use the 34th Avenue Open Street to get to and from school every day. Siff and others hope 34th Avenue will become a public park that prioritizes people on foot. Do you live on or near an open street in New York City or a traffic-restricted street elsewhere?

Persons: —, Nuala O'Doherty, Naranjo, Kathy Hochul, O'Doherty, ", Eliza Relman, Braulio Tellez, Tellez, Jim Burke, Burke, they're, " O'Doherty, Shekar Krishnan, Krishnan, they've, Dawn Siff Organizations: Service, Manhattan, Business, Initiative, New York Gov, Immigrant, Central Queens, Elmhurst Hospital Center, City Department of Transportation, City College, Coalition, City, Department of Transportation, Alliance, Park, Citi Field Locations: Jackson Heights , Queens, York, Manhattan, Jackson, Central, Elmhurst, New York City, Bronx, Siff, Mexico City, Paris

☆ The right-wing surge in EU Parliament could have implications for Europe and beyond
▼ + stars: | 2024-06-09 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +5 min

Right-wing parties across Europe have seen a surge in support over recent years and are set for record gains in the 2024 European Parliament elections. Meanwhile, an emboldened ID party could apply pressure on Parliament to alter its stance on other contentious issues. Here's a look at how these shifts could impact EU policy. "The incoming Commission and Parliament are likely to continue the trend towards greater protectionism and intervention in strategic industries, although the EU will remain an open, trade-dependent economy," they wrote. EU enlargementElsewhere, enlargement of the EU could face further setbacks with a larger euroskeptic presence in Parliament.

Persons: Sean Gallup, Armida van Rij, Chatham House thinktank, Verisk, Mario Bikarski, Laurent Balt, van Rij, Dorien Rookmaker, Balt Organizations: Getty, Populist, Sunday, Greens, European Free Alliance, European People's Party, EPP, European Conservatives, Eurasia Group, Chatham House, CNBC, Immigration, Citi, ECR, EU Locations: Europe, Ukraine, Russia, China, U.S

☆ Stock market heads into the week ahead at a record, but with some uneasiness underneath the surface
▼ + stars: | 2024-06-08 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The S & P 500 made a new record high, its 25 th of the year. And on the surface, there is a stolid calm that suggests a system in comfortable equilibrium, the market achieving a kind of homeostasis. Four of the past five days last week, the S & P 500 moved less than 0.2%. The S & P 500 is up almost 2% since its closing peak at the end of the first quarter, perhaps the moment of maximum belief in a seamless soft economic landing. Three stocks together now account for fully 20% of the S & P 500 market value, mocking the notion of diversification and dashing most active investors' hopes of beating the bogey.

Persons: Keith Gill, Michael Mauboussin, Scott Chronert Organizations: Nvidia, GameStop, Apple, Microsoft, Federal Reserve, Investment, Morgan Stanley Investment Management, Fed, Citi, CPI Locations: rebalancing, U.S

☆ Here are Friday's biggest analyst calls: Nio, Nvidia, UPS, Amazon, Oracle, Lyft, Microsoft, Walmart, Exxon, Netflix, AT&T & more
▼ + stars: | 2024-06-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

We reiterate our Buy rating." Deutsche Bank reiterates Adobe as buy Deutsche said it's sticking with its buy rating ahead of earnings next week. Loop reiterates Best Buy as buy Loop said it's sticking with its buy rating on the stock. "We maintain our above consensus Best Buy estimates, reiterate our Buy rating, and are raising our price target to $100 from $93." Morgan Stanley reiterates Walmart as overweight Morgan Stanley said it's standing by its overweight rating on the stock.

Persons: Oppenheimer, Wells, it's, TD Cowen, Wolfe, NVDA, Morgan Stanley, Nio, BTIG, Ally, Mizuho, JPMorgan, JPMorgan downgrades Vail, Lynch Organizations: Oppenheimer, UPS, Amazon Web Services, Nvidia, Norfolk Southern & Union Pacific, Union Pacific, Norfolk, Microsoft, Deutsche Bank, Deutsche, Colgate, Palmolive, China EV, Oracle, Adobe, JPMorgan, United Rentals, Barclays, Netflix, Vail, Exxon, " Bank of America, of America, underperform Bank of America, Bank of America, 3M, Citi, AT, Unilever

Oppenheimer raised its price target on Microsoft to $500 on the potential of increasing AI adoption. Shares of AT & T are up 9% on the year, but analyst Michael Rollins' $20 price target implies that shares could rise another 9%. Analyst Andrew Obin upgraded the Post-it and Scotch parent to buy from neutral and raised his price target by $15 to $120. Analyst Christopher Nardone upgraded the shoe maker to buy from neutral and raised his price target by $16 to $87. Analyst Jay Sole upped his price target on the clothing maker by $14 to $174, now suggesting upside of 43.4%.

Persons: Oppenheimer, Exxon, Neal Dingmann, Dingmann, aren't, — Spencer Kimball, Michael Rollins, Rollins, Lisa Kailai Han, BofA, Andrew Obin, William Brown, Michael Roman, Brown, Obin, — Alex Harring, Christopher Nardone, Nardone, Skechers, Jeffrey Zekauskas, Zekauskas, Huntsman, Benjamin Soff, Soff, Fred Imbert, PVH, Jay Sole, Calvin Klein, Tommy Hilfiger, Sole, Alex Harring, Morgan Stanley, Dara Mohsenian, Mohsenian, Anthony Chukumba, Chukumba, Gavin Parsons, Parsons, Tami Zakaria, Zakaria, Herc, Morgan, Tim Hsiao, Bernstein's Eunice Lee, NIO, America's Ming Hsun Lee, Timothy Horan, Horan, Rob Sanderson, Sanderson Organizations: CNBC, Microsoft, Loop, Exxon, Natural Resources, Citi, AT, VZ, Bank of America, Huntsman, JPMorgan, Deutsche Bank, UBS, Colgate, Palmolive, Loop Capital, UBS shaves, Boeing, Rentals, United Rentals, Herc Holdings, Wall, 3Q, Bank, OpenAI Locations: Truist, Guyana, OPEC, Thursday's, America's

☆ Citi's top investment ideas if the ECB cuts rates as expected
▼ + stars: | 2024-06-06 | 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 EmailCiti's top investment ideas if the ECB cuts rates as expectedBeata Manthey, Global Equity Strategist at Citi, discusses how to invest as central banks around the world start cutting rates.

Persons: Beata Manthey Organizations: ECB, Global Equity, Citi

☆ Opinion: How this very English sport found a home in America
▼ + stars: | 2024-06-06 | by ( Opinion Ashish Ravinran | ) edition.cnn.com time to read: +8 min

India and Pakistan will take on each other in the Men’s T20 World Cup. But I soon realized that one of the unexpected pleasures of cricket in America was seeing the sport bloom between the cracks. Through their eyes, the New York cricket world continued to bloom in front of me. I discovered weekend leagues, a high school league and peculiarly, the NYPD Youth Cricket League — the subject of my upcoming feature documentary. This year there’s a second competition, the National Cricket League, headquartered in Dallas, home to a large South Asian community.

Persons: Ashish Ravinran, ”, Read, Ashish Ravinran Richa Dayal, who’d, ” Tanvir Ahmed, who’ve, Alex Davidson, We’re, we’ve, I’ve, Ramchandra, Fawwaz Baksh, They’ve, Bolt, Sean Paul, America ’, they’d Organizations: NYPD, CNN, South, Oxford, Cricket, New, NYPD Youth Cricket League —, Citi Field, American, Major League Cricket, National Cricket League, American College Cricket, West Indies, ICC, Bangladesh, Nassau County International Cricket, ” Sports, Local, World Trade Center, Times, Twitter, Facebook, America, Angeles Locations: Singaporean, New York City, Long, , New York, India, Pakistan, America, Caribbean, New York, Singapore, Bangladeshi, Brooklyn, Corona Park, Queens, Prairie, Texas, Morrisville, North Carolina, Dallas, Lauderhill, Florida, Jamaican, West, Canada, Eisenhower, Manhattan, Fort Lauderdale, Bangladesh, Texas , Florida

☆ There's a lot of good news priced in the markets, says Citi Research's Drew Pettit
▼ + stars: | 2024-06-06 | 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 EmailThere's a lot of good news priced in the markets, says Citi Research's Drew PettitDrew Pettit, Citi Research U.S. equity strategist, joins 'Money Movers' to discuss markets, the economy, AI, fintech, and more.

Persons: Drew Pettit Drew Pettit Organizations: Citi, Citi Research

☆ Here are Thursday's biggest analyst calls: Apple, Nvidia, Tesla, Netflix, Alphabet, United, JPMorgan, Carvana, Broadcom & more
▼ + stars: | 2024-06-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Goldman Sachs reiterates Nvidia as buy Goldman said it's sticking with its buy rating on the stock. JPMorgan upgrades StoneCo to overweight from neutral JPMorgan said in its upgrade of the fintech solutions company that it has "appealing" potential for earnings growth. Morgan Stanley reiterates JPMorgan as overweight Morgan Stanley said it's even more bullish on the stock after a meeting with company management. " JPMorgan reiterates Alphabet as overweight JPMorgan said the company is on the "offensive in Gen AI." JPMorgan reiterates Broadcom as overweight The firm said it's sticking with its overweight rating on shares of Broadcom.

Persons: Morgan Stanley, Tesla, Oppenheimer, DA Davidson, Davidson, Goldman Sachs, Goldman, Bernstein, FANG, Redburn, it's bullish, osteogenesis, it's, Robinson, JPMorgan, Disney, Evercore, Moffett, Carvana Organizations: Walmart, Apple, company's, Conference, Nvidia, Energy, Midland shaleco, Endeavor Energy Resources, Airlines, United, Citi, eBay, JPMorgan, BMO, UBS, Mizuho, SEE, P Containers, Deutsche Bank, Deutsche, Google, Jefferies, DFS, Disney, Netflix, CTV, Broadcom Locations: China, Midland, Rocklin

☆ Stocks making the biggest moves before the bell: Robinhood, Nvidia, Lululemon, Five Below and more
▼ + stars: | 2024-06-06 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Five Below told investors to expect between $830 million and $850 million, while analysts polled by LSEG forecasted $883 million. Sprinklr — The business technology stock dove 21.1% in the wake of weak guidance for the current quarter and full year. StoneCo — The financial technology stock rose 2.6% following an upgrade to overweight from neutral by JPMorgan . Ultragenyx Pharmaceutical — The biopharma stock added nearly 4% following an upgrade to buy from neutral at Goldman Sachs. Shopify — The e-commerce technology stock slipped 1.6% on the back of a MoffettNathanson downgrade to neutral from buy.

Persons: Goldman Sachs, Smartsheet, LSEG, Sprinklr, Mizuho, there's, StoneCo, CH Robinson, Goldman, ISI's, Shopify, Guggenheim, —, Jesse Pound, Michelle Fox, Lisa Kailai Han Organizations: Nvidia, LSEG, Revenue, Mizuho, JPMorgan, Ultragenyx Pharmaceutical, Goldman, eBay, Citi, UBS, BMO Capital, BMO, Viridian Therapeutics, ISI, Energy Locations: Americas

☆ Here's what to expect from Friday's big jobs report
▼ + stars: | 2024-06-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Investors will be looking to May's nonfarm payrolls report for more clarity on whether the Federal Reserve can ease up in its battle against inflation. "The jobs report for May is now particularly consequential," Citigroup economist Andrew Hollenhorst said in a note. "A weaker reading [of less than 175,000 jobs and an unemployment rate of 4% or more] would be a final piece of evidence that the slowdown will continue. Citi expects that the report will show just 140,000 jobs, with the unemployment rate hitting 4% for the first time since January 2022. Markets currently are pegging the first rate cut to come in September, with one more on the way in December.

Persons: nonfarm, Dow Jones, Andrew Hollenhorst, Goldman Sachs Organizations: Federal, of Labor Statistics, Citigroup, Citi Locations: U.S, payrolls

☆ EU elections kick off against a backdrop of China disputes, 'greenlash' and possible Trump return
▼ + stars: | 2024-06-06 | by ( Silvia Amaro | ) www.cnbc.com time to read: +4 min

Laurie Dieffembacq | Afp | Getty ImagesThe political makeup of the European Union is about to change with voters across the 27 member states heading to the polls from Thursday until Sunday. Trump has previously remarked that he would not protect NATO countries from Russian attacks if they lag on their membership payments. Green pledgesIn the wake of the 2019 EU elections, the bloc claimed it was the global champion on a climate-friendly agenda. "This could include more support for nuclear power or even support fracking for cheaper and more reliable gas," they added. "An even larger Eurosceptic representation is also likely to weigh against bold reforms which could make enlargement difficult," the analysts said.

Persons: Hadja, Laurie Dieffembacq, Joe Biden, Donald Trump, Biden, Trump, Green, Giorgia, There's Organizations: Belgian, Afp, Getty, European, CNBC, U.S . European Union, U.S, EU, NATO, European Commission, Citi, Bloomberg, European Union Locations: European Union, Europe, U.S, Ukraine, China, Brussels, Beijing, Italy, Rome, Kyiv

☆ Here are Wednesday's biggest analyst calls: Apple, Nvidia, Amazon, Meta, Uber, Disney, Coinbase, Tesla & more
▼ + stars: | 2024-06-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with its overweight rating heading into the June 13 shareholder meeting. Bank of America reiterates Nvidia as buy Bank of America said it's sticking with its buy rating on shares of Nvidia . "We initiate coverage on Jazz Pharmaceuticals (JAZZ) with a Buy rating and 12-month price target of $169." Needham reiterates Coinbase as buy Needham said it's sticking with its buy rating on Coinbase . "We are initiating coverage of LFMD with an Overweight rating and $12 price target."

Persons: it's, ODFL, Morgan Stanley, Tesla, Elon, Gordon, Gordon Haskett, Oppenheimer, Uber, Guggenheim, Goldman, Bernstein, Needham, Coinbase, Raymond James, Meta, Key Organizations: BMO, Dominion, Bank of America, Nvidia, Barclays, Taiwan Semiconductor, Boston Beer, Materials, Applied Materials, JPMorgan, Citi, Apple, Apple's Worldwide, Conference, Disney, Walt Disney, Jazz Pharmaceuticals, EV, Meta, HSBC Locations: TSMC, China, U.S, CY25

☆ Nuclear energy back in favor with coming AI data center demand surge. Citi sees two stocks to play it
▼ + stars: | 2024-06-04 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Data centers are expected to drive 31 gigawatts of incremental power demand through 2030, according to Citi. The tax credit could lead to modest earnings growth that regulated utilities can use to improve their long-term financial outlook, according to Citi. "U.S. regulated utilities with nuclear assets are likely to receive PTC cash flow benefits that gradually ramp from 2024 through 2027 before reversing in 2032," the analysts wrote. Duke Energy is up 12% over the past three months, while Southern Company has gained 17%. Duke operates about 9 gigawatts of nuclear capacity, while Southern Company operates 5.4 gigawatts.

Persons: Arkady Gevorkyan Organizations: Citigroup, Duke Energy, Southern Company, Citi, Energy, Duke Locations: U.S

☆ Bad economic news has been good for stocks, but that could change this week
▼ + stars: | 2024-06-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Bad economic news so far has been mostly positive for the stock market, as investors worry over whether the Federal Reserve will start cutting interest rates. The greenback often rises on bad news as investors seek the safety of cash and equivalents, while the stock market gains on good news. .SPX .DXY line 2024-04-01 Stocks vs. the dollar At the same time, economic data has generally deteriorated, or at least not met Wall Street forecasts. For the most part, bad economic news likely could help convince the Fed that the time is right to start lowering interest rates. Based on the prior two months, the unemployment rate would have to rise to 4.3% in May for that to happen.

Persons: Ohsung Kwon, Kwon, Dow Jones, Claudia Sahm, BofA Organizations: Federal Reserve, Bank of America, Citi, Fed, Bureau of Labor Statistics, New Century Advisors

☆ A longtime skeptic on Best Buy now says buy the stock — here's what changed their mind
▼ + stars: | 2024-06-03 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

A longtime bearish analyst on Best Buy has jumped over to our side the debate after its head-turning earnings report last week. Barry said Best Buy expects to have the largest assortment of AI PCs on sale later this month from brands such as Dell, Microsoft and HP, with "more than 40% of the assortment retail exclusive to Best Buy." Based on Monday's prices, Best Buy would need to gain nearly 59% to take out its old highs. Considering the innovation pipeline ahead, Citi analysts are optimistic Best Buy shares can go even higher. People walk into a Best Buy store in a Brooklyn mall on August 29, 2023 in New York City.

Persons: Jim Cramer, Corie Barry, Barry, Jim, it's, Jim Cramer's, Spencer Platt Organizations: Citigroup, Citi, Dell, Microsoft, HP, Nasdaq, CNBC, Getty Locations: Brooklyn, New York City

Citi double upgraded Best Buy to buy from sell, and its new price target indicates upside of 18%. MRVL YTD mountain MRVL year to date — Lisa Kailai Han 6:16 a.m.: Bank of America sticks to Nvidia as a top pick with 36% upside Nvidia remains a top pick for Bank of America. He also maintained his price target of $1,500 and named Nvidia a top pick following CEO Jensen Huang's keynote speech at the Computex expo this past weekend. Arya's price target implies that Nvidia stock could rise 36.8% from here, adding to its whopping 121% year-to-date rally. — Lisa Kailai Han 5:46 a.m.: Citi double upgrades Best Buy to buy rating from sell There's a rosy outlook for Best Buy ahead, according to Citi.

Persons: Kimberly, Clark, Goldman Sachs, Toshiya Hari, Hari, Marvell's, Lisa Kailai Han, Vivek Arya, Jensen, Arya, — Lisa Kailai Han, Piper Sandler, Masimo, Jason Bednar, Bednar, MASI, Steven Zaccone, Nik Modi, Modi, Fred Imbert Organizations: CNBC, Citi, RBC, Bank of America, Nvidia, Marvell Technology Marvell Technology, Enterprise Networking, Marvell, Sound, Kimberly, Clark Investors, RBC Capital Markets Locations: Friday's, Kimberly, KMB

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Citi, Tesla, Best Buy, Meta, Broadcom, Krispy Kreme & more
▼ + stars: | 2024-06-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Goldman Sachs reiterates Apple as buy Goldman said it's bullish heading into the company's Worldwide Developer's Conference on June 10. " Mizuho reiterates Meta as buy Mizuho said its sticking with its buy rating on the Meta. JPMorgan upgrades Krispy Kreme to overweight from neutral JPMorgan upgraded Krispy Kreme after a change in analyst coverage. Citi upgrades Best Buy to buy from sell Citi said in its double upgrade of the stock that it sees "upside potential." Goldman Sachs reiterates First Solar as buy Goldman raised its price target on the stock to $302 per share from $268.

Persons: Goldman Sachs, Goldman, it's, AAPL, Morgan Stanley, Tesla, We've, Jefferies, Mizuho, Wells, CAVA, Piper Sandler, Massimo, Piper, Clark, Melius, Guggenheim, Stifel, Bernstein, Airbnb, Roth, Marvell Organizations: : Bank of America, Nvidia, Bank of America, Apple, Conference, Meta, Citi, JPMorgan, JPMorgan downgrades, RBC, Kimberly, Broadcom, Guggenheim, Logistics, Auto Logistics, Inc, EBITDA, Qs, Marvell Locations: Computex, Taiwan, Siri, JPMorgan downgrades Cava

☆ Stocks making the biggest moves premarket: GameStop, Stericycle, MarineMax, Paramount and more
▼ + stars: | 2024-06-03 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Waste Management , SteriCycle — Shares of medical waste-disposal company Stericycle jumped 16% after Waste Management agreed to buy the company for $7.2 billion. Waste Management fell 1.5%. MarineMax — MarineMax, a recreational boat and yacht services company, popped 19% on a report that OneWater Marine is in talks to buy the company for $40 a share in cash. Boston Beer Company — Shares slid 11% after Bloomberg reported that Japanese brewer and distiller Suntory denied it's in talks to buy the Samuel Adams owner. Paramount Global — Shares added more than 6% after Skydance Media revised its buyout offer for Paramount and gave nonvoting shareholders an option to cash out Paramount Class B shares at a roughly 26% premium to Friday's close.

Persons: Keith Gill, Kitty, Stericycle, —, Cava, Rubin, Blackwell, it's, Samuel Adams, Alex Harring, Brian Evans, Michelle Fox Theobald Organizations: GameStop, AMC Entertainment, AMC, Waste Management, Bloomberg, JPMorgan, Nvidia, AMD, Monday, Sunday, Bank of America, Boston Beer, Suntory, Street, Citi, Spotify, GSK, Autodesk — Autodesk, Paramount, Skydance Media Locations: Cava, Taipei, U.S, Delaware

☆ S&P 500 enters June near a record but with growing concerns about the market's narrow leadership
▼ + stars: | 2024-06-01 | by ( Michael Santoli | ) www.cnbc.com time to read: +9 min

The S & P 500 is a mere 1.2% from its all-time high, yet only 60% of its member stocks are up for the year and just over 40% last week were above their 50-day moving average. .SPX YTD mountain S & P 500, 1-year We seem to undergo one of these periods of decrying a lack of market breadth every few months in recent years. Bespoke Investment Group last week looked at the small number of past instances when the S & P 500 was so close to a record yet most stocks were beneath a 50-day average. The 100-day correlation between the S & P 500 and the Dow Jones Industrial Average has hit its lowest level since the dot-com bust of the early 2000s, according to CNBC's Data & Analytics group. The S & P 500 at the highs hit 21-times forward earnings, and we've spent very little time above that outside the pandemic melt-up and the tech boom/bust a quarter-century ago.

Persons: Warren Pies, Dow, Scott Chronert, we've Organizations: Investment, 3Fourteen, Nvidia, Treasury, Microsoft, Apple, Dow Jones, Dell Technologies, Citi, UBS Locations: Banks

☆ Japan markets to remain in 'risk-off mode' until Fed cuts rates: Citi
▼ + stars: | 2024-05-31 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJapan markets to remain in 'risk-off mode' until Fed cuts rates: CitiRyota Sakagami of Citi explains why he sees negative earnings revisions among Japanese companies.

Organizations: Japan, Citi

☆ CNBC Daily Open: Trump guilty in hush money trial
▼ + stars: | 2024-05-31 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange during afternoon trading on Jan. 22, 2024 in New York City. The Dow Jones and S&P both hit all time highs with the Dow Jones closing over 38,000 points for the first time ever as stocks continue to rise. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Saleforce sinks stocksWall Street closed lower after Salesforce had its worst day in two decades. Salesforce plungesShares of Salesforce slumped more than 20%, their worst trading day in 20 years, after the cloud software company reported weaker-than-expected results.

Persons: Dow Jones, Trump, Donald Trump, Daniels, Salesforce, Dell, Dell's, Foot, Locker's, Mary Dillon Organizations: New York Stock Exchange, CNBC, New, Republican National Convention, Dow Jones, Nasdaq, Nvidia, Microsoft, Treasury, Dell, Citi Locations: New York City, New York, U.S, Milwaukee

Citi, meanwhile, initiated Lionsgate Studios with a buy rating. JPMorgan did lower its price target on Viasat to $23 per share from $30. The analyst reiterated his buy rating, noting that AI adoption is still in the early stages. The bank initiated coverage of the TV and movie studio with a buy rating. Its price target of $14 implies upside of more than 73% from Thursday's close.

Persons: Felix Liu, — Lisa Kailai Han, Sebastiano Petti, Petti, — Jesse Pound, Oppenheimer, Tyler Batory, Batory, — Hakyung Kim, Wynn, Vitaly Umansky, WYNN, Umansky, Wolfe, Eddie, Bill Carrache, Dell Dell, Wamsi Mohan, Dell, Mohan, Goldman Sachs, Michael Ng, Ng, Morgan Stanley, we're, Erik Woodring, Woodring, Jason Bazinet, LION, COVID, Fred Imbert Organizations: CNBC, Dell Technologies, Lionsgate Studios, Citi, UBS, JPMorgan, Viasat, Homes, Wynn Resorts, Seaport Research Partners, Wolfe Research, Third Bank Regional, Dell, Bank of America, DELL, Lionsgate Entertainment, Starz Locations: Bilibili, China, Viasat, Macau, Las Vegas, Vegas, Wall, Thursday's

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