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☆ Stock market today: Indexes rise as stocks whipsaw after inflation-fueled decline
▼ + stars: | 2024-09-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

US stocks traded mixed as traders reacted to a mixed inflation report. Core consumer prices rose more than expected, reducing chances of a 50 basis-point rate cut. AdvertisementUS stocks traded mixed on Wednesday, with investors staging a recovery after taking in a mixed inflation report. Odds for a 50 basis-point cut have been slashed by more than half to just 15%, according to the CME FedWatch tool. Markets will assess August producer price inflation data and weekly jobless claims on Thursday and fresh retail sales data next Tuesday.

Persons: —, Bill Adams, Jensen Huang, Goldman Sachs Organizations: Service, Dow Jones, Traders, Comercia Bank, Bank of America, Tech, Nvidia, Here's

☆ The next big market for weight-loss drugs: children
▼ + stars: | 2024-09-11 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Novo Nordisk's American rival, Eli Lilly, has also been testing obesity-beating drugs for children as young as six. Wegovy and similar drugs for weight loss have become a huge business. The drugs' success has made Novo Nordisk the most valuable company in Europe. AdvertisementChildhood obesityAn FDA approval on weight loss drugs for children could open up a new market for Novo Nordisk. In June, US Sen. Bernie Sanders announced that Novo Nordisk CEO Lars Jørgensen would testify before the committee on September 24 at a hearing focusing on the prices that Novo Nordisk charges Americans for their drugs, Ozempic and Wegovy.

Persons: —, Saxenda, Novo, Claudia Fox, Eli Lilly, Goldman Sachs, Wegovy, Sen, Bernie Sanders, Lars Jørgensen, Sanders Organizations: Service, BMI, Business, FDA, Financial Times, Novo Nordisk, Centers for Disease Locations: Madrid, Europe

☆ Cassidy: Issues cropping up at Goldman Sachs and JPMorgan are a bump in the road
▼ + stars: | 2024-09-11 | 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 EmailCassidy: Issues cropping up at Goldman Sachs and JPMorgan are a bump in the roadRBC's Gerard Cassidy discusses the health of the banking sector, following warnings from Goldman Sachs and JPMorgan this week about weakness in some parts of their businesses.

Persons: Cassidy, Goldman Sachs, Gerard Cassidy Organizations: JPMorgan

☆ This corner of the stock market is set to outperform once the Fed starts cutting interest rates, Goldman Sachs says
▼ + stars: | 2024-09-11 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

Mid-cap stocks are poised for greater growth than small- and large-caps, Goldman Sachs says. They forecast a 13% return on mid-caps in the next year after rate cuts. AdvertisementThere's one area of the stock market that is likely set for outsized growth after rate cuts: the mid-cap shares. Mid-cap equities have historically seen stronger growth in the year after rate cuts compared to large- and small-caps, analysts from Goldman Sachs say. Goldman Sachs expects the Fed to cut interest rates by 25 basis points at its policy meeting next week, followed by 25 basis points in November and December.

Persons: Goldman Sachs, —, Russell, Goldman Organizations: Service

☆ 3-Stock Lunch: Goldman Sachs, Nvidia & Toll Brothers
▼ + stars: | 2024-09-11 | 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 Email3-Stock Lunch: Goldman Sachs, Nvidia & Toll BrothersDavid Trainer, New Constructs CEO, joins 'Power Lunch' to discuss stock plays for three stocks.

Persons: Goldman Sachs, David Trainer Organizations: Nvidia, Toll

☆ Goldman Sachs CEO David Solomon says the economy is in pretty good shape
▼ + stars: | 2024-09-11 | 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 EmailGoldman Sachs CEO David Solomon says the economy is in pretty good shapeGoldman Sachs CEO David Solomon joins CNBC's 'Halftime Report' to discuss the latest market trends as financials head for their worst day since August 5, his outlook on the overall economy, and more.

Persons: Goldman Sachs, David Solomon, CNBC's

☆ Harris presents herself as 'change candidate' in presidential debate
▼ + stars: | 2024-09-11 | 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 EmailHarris presents herself as 'change candidate' in presidential debateCNBC's Eamon Javers joins 'Squawk on the Street' to recap last night's presidential debate, discuss the context of Goldman Sachs' report on a Trump vs. Harris economy, and more.

Persons: Harris, Eamon Javers, Goldman Sachs Organizations: Trump Locations: Harris

☆ Stocks making the biggest moves premarket: Trump Media, GameStop, Dave & Buster's and more
▼ + stars: | 2024-09-11 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Trump Media & Technology – Shares slid more than 11% in the wake of the debate between Republican nominee Donald Trump and Democratic Vice President Kamala Harris . Dave & Buster's – The entertainment stock popped more than 13% after topping earnings estimates for the recent quarter by 15 cents a share. GameStop – The video game retailer's shares plunged more than 10% in premarket trading after the company reported a steep decline in sales. GameStop also announced an "at-the-market" stock offering of up to 20 million shares. Morgan Stanley – Shares of the major bank were down more than 1% after Goldman Sachs downgraded the stock to neutral from buy.

Persons: Donald Trump, Kamala Harris, Rentokil, Rollins, Dave, Buster's, Jefferies, Stocks, Coinbase, MicroStrategy, MARA, Morgan Stanley –, Goldman Sachs, Goldman, Morgan Stanley, —, Alex Harring, Samantha Subin, Jesse Pound, Yun Li, Sarah Min, Tanaya Macheel, Michelle Fox Organizations: Trump Media & Technology, Republican, Democratic, Trump Media, GameStop, Williams, Sonoma, Jefferies, Novartis – U.S, Bank of America, Novartis, Viking Therapeutics, JPMorgan, MARA Holdings Locations: North America, Swiss, Japan

☆ Wall Street likes what Nvidia CEO said about the future and new AI chip rollout. So did we
▼ + stars: | 2024-09-11 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Investors returned to Nvidia stock Wednesday after CEO Jensen Huang made a compelling case at a major tech gathering for the innovation he strives for and the competitive moat he's built. There have been a lot of doubters on Wall Street since Nvidia reported quarterly results on Aug. 28 . NVDA YTD mountain Nvidia YTD On stage with Goldman Sachs CEO David Solomon, Huang was asked how he views the competition. The way that computers are built today, if you look at our new Blackwell system, we design seven different types of chips to create the system. While ducking a question about Nvidia stock, Solomon did tell CNBC that Nvidia is a "super company" that's well-positioned to keep succeeding.

Persons: Jensen Huang, Goldman Sachs, That's, David Solomon, Huang, Blackwell, Nvidia's, it's, ramping Blackwell, that's, It's, Solomon, Communacopia, Jim Cramer's, Jim Cramer, Jim, Sam Yeh Organizations: Nvidia, Technology Conference, CNBC, Goldman, Blackwell, AFP, Getty Locations: San Francisco, Communacopia, Taipei

☆ Nvidia CEO Jensen Huang tells David Solomon companies get things done 20 times faster with generative AI
▼ + stars: | 2024-09-11 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +3 min

Read preview"What Nvidia's really good at is creating new markets," Nvidia CEO Jensen Huang told Goldman Sachs CEO David Solomon at a technology conference hosted by the investment bank Wednesday. Solomon asked the most important question in tech today: Where is the return on investment from all this investment in AI infrastructure? AdvertisementFirst, in the age of generative AI, Huang said, cloud providers who buy Nvidia (and other) GPUs and rent them to tech companies, make $5 for every $1 they spend. Huang argued that upgrading existing data centers to "accelerated computing," or the parallel computing that Nvidia GPUs and other AI chips enable, is inevitable. Even if Nvidia's claims that AI computing is more energy efficient are true, the AI boom is expected to put massive pressure on electricity grids.

Persons: —, Jensen Huang, Goldman Sachs, David Solomon, Huang, Solomon, — you've Organizations: Service, Nvidia, Business

☆ Final Trades: Trade Desk, Broadcom, Applovin and Goldman Sachs
▼ + stars: | 2024-09-11 | 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 EmailFinal Trades: Trade Desk, Broadcom, Applovin and Goldman SachsThe Investment Committee give you their top stocks to watch for the second half.

Persons: Goldman Sachs Organizations: Broadcom, Applovin, Investment

☆ Stocks making the biggest moves midday: GameStop, Viking Therapeutics, Trump Media and more
▼ + stars: | 2024-09-11 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Trump Media & Technology — The stock fell more than 13% following Tuesday's debate between majority shareholder former President Donald Trump and Democratic Vice President Kamala Harris. Novartis — U.S.-listed shares of the Swiss pharma company slipped nearly 2% on the heels of Bank of America's downgrade to hold from buy. Crypto stocks — Crypto stocks were dragged downward after the price of bitcoin fell slightly overnight, as crypto traders considered central bank policy in Japan . Morgan Stanley — The bank stock lost 1% following a downgrade at Goldman Sachs to neutral from buy. Solar stocks — Solar stocks rose as a group after Vice President Kamala Harris's performance at Tuesday's debate raised confidence in a Democratic victory at the U.S. presidential election.

Persons: Donald Trump, Kamala Harris, Rentokil, it's, bitcoin, Morgan Stanley, Goldman Sachs, Goldman, Morgan, Warren Buffett's Berkshire Hathaway, Kamala Harris's, — CNBC's Sean Conlon, Michelle Fox, Alex Harring, Yun Li, Sarah Min, Samantha Subin Organizations: Trump Media & Technology, Democratic, Trump Media, Nasdaq, GameStop, Novartis — U.S, Swiss pharma, of, Therapeutics, JPMorgan, Viking Therapeutics, Goldman, Bank of America, U.S, Clean Energy, SolarEdge Technology, Sunnova Energy Locations: North America, Japan

☆ We're about to find out if Jensen Huang can get investors to snap out of their AI panic
▼ + stars: | 2024-09-11 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

Read previewJensen Huang faces a monumental task as he takes center stage at a Goldman Sachs event on Wednesday: getting AI investors to stop panicking. However, there are signs suggesting that investors are getting pretty angsty over the future of Nvidia and AI more broadly. The markets are in a panic over AINvidia has been a powerhouse at the center of the generative AI boom. First, Nvidia's 122% year-on-year revenue growth in the last quarter was smaller than the 262% growth it recorded in the previous quarter. "I do not believe that Jensen is able to say anything that will quell investors' nerves," he said.

Persons: —, Jensen Huang, Goldman Sachs, Chris Beauchamp, Jeff Chiu, Beauchamp, Bernstein, Emma Cosgrove, Huang, Blackwell, Alvin Nguyen, Forrester, Jensen Organizations: Service, Nvidia, Technology Conference, Business, Google, Meta, Microsoft, Santa, Big Tech, Blackwell Locations: San Francisco, Santa Clara

☆ Affirm CEO talks growth and expansion plans at Goldman Sachs Communacopia Conference
▼ + stars: | 2024-09-11 | 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 EmailAffirm CEO talks growth and expansion plans at Goldman Sachs Communacopia ConferenceCNBC's Kate Rooney sits down with Affirm CEO Max Levchin to talk growth, expansion plans, the political landscape and more.

Persons: Goldman, Kate Rooney, Max Levchin Organizations: Goldman Sachs

☆ Nvidia stock jumps as CEO Jensen Huang looks to address key investor concerns
▼ + stars: | 2024-09-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Nvidia stock surged 6% on Wednesday, helping fuel a tech-led rebound in the stock market. CEO Jensen Huang discussed the return on investment of AI infrastructure at a Goldman Sachs conference. Productivity gains and immediate cost savings are the core tenets of Nvidia's ROI pitch to customers. The gains in Nvidia stock came as CEO Jensen Huang addressed investors at a Goldman Sachs conference in San Francisco Wednesday morning. "You reduce the computing time by about 20 times, and so you get a 10x savings," Huang said of running Nvidia's GPU accelerators relative to traditional CPUs.

Persons: Jensen Huang, Goldman Sachs, —, David Solomon, Huang, Solomon, Nvidia's, Claude, There's Organizations: Nvidia, Goldman, Productivity, Service, San Locations: San Francisco

☆ What you need to know about Kamala Harris' 'opportunity economy'
▼ + stars: | 2024-09-11 | by ( Kwan Wei Kevin Tan | Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +7 min

Read previewVice President Kamala Harris says she has a plan for America's middle class— building an "Opportunity Economy" to help them succeed. "Vice President Harris grew up in a middle class home as the daughter of a working mom. She believes that when the middle class is strong, America is strong," the Harris campaign wrote in a section titled "Build an Opportunity Economy and Lower Costs for Families." But just what exactly is Harris looking to do when she says she's going to build up the middle class through her "Opportunity Economy" agenda? During the debate, Harris accused Trump of only wanting to offer tax breaks to the richest people, while Trump countered by saying Harris lacked a detailed plan.

Persons: —, Kamala Harris, Harris, Donald Trump, she's, Biden, Trump, Alice Tecotzky, Goldman Sachs Organizations: Service, Business, Trump, American, Biden, Pharma, New York Times, Siena College Locations: America, North Carolina

☆ JD Vance's Wall Street allies raise millions for the Trump campaign
▼ + stars: | 2024-09-11 | by ( Brian Schwartz | ) www.cnbc.com time to read: +7 min

Wall Street relationshipsOne of Vance's earliest interactions with Wall Street came shortly after the November 2016 presidential election, when he headlined a lunch in New York to discuss his newly published memoir. John Underwood, a longtime managing director at Goldman Sachs, encouraged his allies to support and raise money for Vance's Senate campaign, according to people familiar with the matter. He told them the Trump campaign would need "hundreds of millions of dollars" to compete with Vice President Kamala Harris' fundraising surge. The Ohio Republican's opposition to Wall Street was on full display during the Republican National Convention in Milwaukee in July. "Wall Street barons crashed the economy and American builders went out of business," Vance said in his nomination acceptance speech.

Persons: Vance, Marco Bello, Sen, JD Vance, Donald Trump's, Scott Bessent, Morgan Stanley's Jonathan Burkan, Cantor Fitzgerald, Howard Lutnick, Norm Champ, Keith Rabois, Jacob Helberg, J.D, Champ, Sander Gerber, Gerber, Goldman Sachs, Ohio Republican Sen, Rob Portman, John Underwood, Underwood, Steve Case, Trump, Omeed Malik, Emil Henry, Henry, Bush, Ted Virtue, Woody Johnson, Clifford Sobel, Richard Kurtz, Kamala Harris, Harris, Malik, John Paulson, Reuben Jeffery III Organizations: Republican U.S, Reuters, Ohio, Trump, Vance, Securities and Exchange Commission, CNBC, Hudson, Hudson Bay Capital, Netflix, Allen & Company, Ohio Republican, Senate, AOL, Tiger Infrastructure Partners, New York Jets, Hamptons, Valor Capital, Rockefeller & Co, Wall, Republican National Convention Locations: Kenosha, Kenosha , Wisconsin, U.S, New York City, Hudson Bay, New York, Ohio, Sun Valley , Idaho, Washington, Milwaukee

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Spotify, Arm, Robinhood, Alphabet, Shopify, Disney & more
▼ + stars: | 2024-09-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wednesday's biggest calls on Wall Street: Goldman Sachs downgrades Morgan Stanley to neutral from buy Goldman said it sees better value elsewhere than Morgan Stanley. Goldman Sachs upgrades Evercore to buy from neutral Goldman said the investment banking firm is "best in class." JPMorgan reiterates Nvidia as overweight JPMorgan said stocks such as Nvidia are "strong beneficiaries in the emerging AI arms race." Morgan Stanley reiterates Arm as a top pick Morgan Stanley said it's sticking with its overweight rating on the semiconductor chip company. Bank of America reiterates Apple as buy Bank of America said it's standing by its buy rating on shares of Apple.

Persons: Goldman Sachs downgrades Morgan Stanley, Goldman, Morgan Stanley, Goldman Sachs, Rosenblatt, Canaan, Jefferies, Williams, Guggenheim, it's, orals, it's bullish, Bernstein, Robinhood, Wells, Shopify, Truist, Wolfe Organizations: NASDAQ, JPMorgan, Viking Therapeutics, Citi, Apollo Global Citi, APO, U.S, " Bank of America, Novartis, Bank of America, Nvidia, Apple, Spotify, Disney, AES, ~$ Locations: Canaan, Williams, Sonoma, 2030E

☆ Investors may need to get more pessimistic before selling capitulates and stocks bottom
▼ + stars: | 2024-09-11 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Investors haven't become super pessimistic on stocks since the recent volatility bout began. Specifically, the firm's Crowd Sentiment Poll — a gauge for intermediate market sentiment — shows excessive optimism among investors after dipping to neutral last month. NDR's nearer-term daily trading composite, meanwhile, points to more neutral sentiment. Wall Street is also anxiously looking ahead to the U.S. presidential election in November. So bottom line: It may take another bout of selling to shake out the weak bullish investors and restart the long-term trend.

Persons: Ned Davis, London Stockton, Goldman Sachs downgrades, Morgan Stanley, Richard Ramsden Organizations: Ned Davis Research, London, Reserve, U.S Locations: NDR's

☆ We're still in the early innings of AI, says Goldman Sachs' George Lee
▼ + stars: | 2024-09-11 | 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 EmailWe're still in the early innings of AI, says Goldman Sachs' George LeeGeorge Lee, Goldman Sachs Global Institute co-head, joins 'Closing Bell to discuss how he's rethinking AI, the impact of the technology on markets and mega cap CapEx.

Persons: Goldman Sachs, George Lee George Lee, Goldman, Bell Organizations: Goldman Sachs Global Institute

☆ Solar stocks are winners from the presidential debate and we've got one primed to run
▼ + stars: | 2024-09-11 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. If there were any winners from the debate, solar stocks would be it. Other solar stocks such as Array and First Solar were soaring as well. 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, Kamala Harris, Donald Trump, Jim, Morgan Stanley, Goldman Sachs, Morgan, Stocks, Campbell, Buster's, Jim Cramer's Organizations: CNBC, Fed, Williams, Viking Therapeutics, Dave Locations: United States, Sonoma

☆ $11 billion ExodusPoint just made a concession on fees. It could be the start of a massive change for hedge funds' biggest names.
▼ + stars: | 2024-09-11 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +4 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Multi-strategy hedge funds, led by Citadel, Millennium, and Point72, had churned out returns in turbulent markets with limited volatility. In that environment, even the multi-strategy funds not among the sector's top tier were able to demand long lock-ups and high fees. Bobby Jain's new fund launched with $5.3 billion in July after there were whispers of him raising $10 billion six months prior.

Persons: —, Michael Gelband, Goldman Sachs, Bobby Jain's, Doug Haynes, Justin Young Organizations: Service, Citadel, Tiger, Business, Millennium, Street, FT, Bloomberg, of Texas, Treasury, Multilateral Endowment Management Company, Oklahoma State Foundation, LinkedIn

☆ There's opportunity in the pullback from Goldman Sachs, says Odyssey’s Jason Snipe
▼ + stars: | 2024-09-11 | 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 EmailThere's opportunity in the pullback from Goldman Sachs, says Odyssey’s Jason SnipeNew York Life Investments’ Lauren Goodwin and Odyssey’s Jason Snipe, join 'Closing Bell' to discuss Goldman Sachs moving away from the consumer business, the Fed's next moves and their market outlook.

Persons: Goldman Sachs, Jason Snipe, ’ Lauren Goodwin Organizations: Life

☆ Wall Street mounts a comeback, and Honeywell finally hints at what may be next
▼ + stars: | 2024-09-11 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 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. 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. 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.

Persons: Jim Cramer, Jensen Huang, Goldman Sachs, Vimal Kapur, Morgan, Kapur, We've, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Club, Nvidia, Broadcom, Nvidia's, Technology Conference, Honeywell, Laguna Conference, Signet Jewelers, Jim Cramer's Charitable Locations: Kroger

☆ Goldman says with all the focus on large- and small-caps, you’re missing an opportunity in the middle
▼ + stars: | 2024-09-11 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Don't get caught up in the debate on large-cap versus small-cap stocks — the real Goldilocks opportunity lies in mid-cap stocks, according to Goldman Sachs. "Today, mid-cap equities offer investors superior earnings growth at a reasonable price compared with large-caps," Ma wrote in a Tuesday note. "Mid-cap stocks have typically outperformed both large-caps and small-caps during the 12 months following the first Fed rate cut in an easing cycle," she added. In addition, mid-caps have "stronger fundamentals" compared with small-cap names, Ma noted. Here are some of Ma's favorite mid-cap names that are both high quality with potential to grow.

Persons: Goldman Sachs, Russell, Jenny Ma, Ma, Ma's Organizations: Neurocrine Biosciences, BioMarin Pharmaceutical

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