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☆ Asia markets rise as Wall Street rallies and Treasury yields ease
▼ + stars: | 2023-10-11 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Goldman Sachs' chief U.S. equity strategist David Kostin does not expect the Israel-Hamas conflict will have a huge impact on markets. "It's a tragedy from a human point of view," Kostin told CNBC's "Squawk on the Street" on Tuesday. "But the idea fundamentally, we'll be getting earnings for the last three months, which is obviously backward looking. And the prospects looking forward are probably more domestically facing issues that are sort of pertinent to a lot of portfolio managers." Still, the strategist expects other risk factors will continue to weigh on stocks, citing higher yields and oil prices that could impede multiple expansion.

Persons: Goldman Sachs, David Kostin, Kostin, CNBC's, we'll, Sarah Min Locations: Israel

☆ Why defense stocks may keep moving higher following initial gains on the Israel-Hamas war
▼ + stars: | 2023-10-10 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Wall Street analysts expect defense stocks will continue to move higher as a result of the outbreak of the Israel-Hamas war making it less likely Congress will delay or curb the nation's defense budget. Defense stocks have underperformed as a group this year amid concerns that partisan divisions in Washington point to lower military spending. Notably, Bernstein analyst Douglas Harned doesn't expect the Israel-Hamas conflict will change the path of U.S. defense spending. He cited prior conflicts, such as Russia's invasion of Ukraine last year, that didn't end up boosting the defense budget. LMT 5D mountain Lockheed Martin Regardless, Wall Street broadly anticipates defense stocks could continue rising from current levels.

Persons: Scott Deuschle, Deuschle, Jason Gursky, Bernstein, Douglas Harned doesn't, Harned, Martin, Northrop, Morgan Stanley, Lockheed Martin Organizations: Defense, U.S . Aerospace & Defense ETF, ITA, Wall Street, Defense Department, Pentagon, Deutsche, Citi, Deutsche Bank, Northrop Grumman, Lockheed, Israeli Defense Forces, L3Harris, Army Locations: Israel, Washington, U.S, Gaza, Ukraine, Congress, China, Russia, North Korea

☆ North Korea says military satellite key to countering U.S. 'space militarisation'
▼ + stars: | 2023-10-10 | by ( Hyonhee Shin | ) www.reuters.com time to read: +2 min

Ri singled out a recent trip by the U.S. Space Force commander to Tokyo, and the deployment of a Space Force component in South Korea, where its members took part in joint military drills for the first time this year. Such moves were "nothing but a camouflaged curtain to cover up the scenario for preemptive attack on the anti-U.S. and independent countries," Ri said, mentioning North Korea, China and Russia. DPRK is the initials of North Korea's official name, the Democratic People's Republic of Korea. North Korea has failed twice to place a spy satellite in orbit, both in May and August, and has vowed to try again as early as October. Last month, North Korean leader Kim Jong Un toured Russia's most modern space launch centre, where President Vladimir Putin promised to help him build satellites.

Persons: KCNA, Jin, Ri, Kim Jong Un, Vladimir Putin, Ra Jong Min, Canada's, Ra, Hyonhee Shin, Gerry Doyle Organizations: National Aerospace Technology Administration, U.S . Space Force, Force, DPRK, Democratic People's, North, Thomson Locations: SEOUL, U.S, United States, Asia, Tokyo, South Korea, North Korea, China, Russia, DPRK, Democratic People's Republic of Korea, Canada

☆ Stocks making the biggest moves premarket: Palantir, PepsiCo, Rivian and more
▼ + stars: | 2023-10-10 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Palantir Technologies — Shares of the data analytics company added 2.3% on news that the U.S. Army awarded the company a $250 million contract to test and develop artificial intelligence and machine learning. Unity Software — The game engine stock surged nearly 6% after the company said CEO John Riccitiello would retire. Rivian Automotive — Shares of the electric truck company rose 3% in premarket trading after UBS upgraded Rivian to buy from neutral. PepsiCo — Shares of the beverage giant added roughly 1% after a third-quarter earnings beat. Akero Therapeutics — The biotech company plummeted more than 63% after reporting initial trial data related to a Phase 2B study of cirrhosis drug efruxifermin.

Persons: John Riccitiello, James M, Whitehurst, Rivian, Davidson, Goldman Sachs, —, Jesse Pound, Sarah Min Organizations: U.S . Army, Software, UBS, PepsiCo —, LSEG, Ameris, Bancorp, Arm Holdings, JPMorgan, Deutsche Bank, Akero Therapeutics

☆ JPMorgan says the peak in yields is near, but it won't be good for stocks
▼ + stars: | 2023-10-09 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

A peak in bond yields may be near but that's not necessarily good news for equity investors, according to JPMorgan. Mislav Matejka, head of global and European equity strategy at JPMorgan, expects bond yields will soon fall after their recent rise. For bond traders, that could be an opportunity to position for a long duration trade, Matejka said. "The move up in bond yields might not be sustainable; our fixed income team is looking for yields to fall from current levels in most places." "If bond yields roll over, will it help equity valuations?"

Persons: that's, Mislav Matejka, Matejka Organizations: JPMorgan, Treasury, Federal Reserve, Traders, Equity, U.S Locations: U.S, Japan, Europe

☆ Stocks making the biggest moves premarket: Exxon Mobil, Lockheed Martin, Walt Disney and more
▼ + stars: | 2023-10-09 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

An Exxon gas station sign is seen on October 06, 2023 in the Brooklyn borough of New York City. The Wall Street firm said the software stock is at an attractive entry point after its recent pullback. Exxon Mobil , Chevron , Occidental Petroleum — Energy stocks popped as oil prices rallied following the Hamas attack on Israel over the weekend. Blue Owl Capital — Shares of the investment company dropped 2.6% after Oppenheimer downgraded Blue Owl Capital to perform from outperform. Lockheed Martin — The aerospace and defense company saw shares rise about 4.5% in premarket trading following the surprise attack on Israel by Palestinian militant group Hamas over the weekend.

Persons: Walt, Nelson Peltz's, Trian's, Trian, Saket Kalia, Oppenheimer, Bristol Myers, Tesla, Lockheed Martin, — CNBC's Brian Evans, Lisa Kailai Han, Fred Imbert, Hakyung Kim, Yun Li, Tanaya Macheel, Pia Singh Organizations: Exxon, Walt Disney —, Street Journal, Management, JPMorgan, Spotify Technology, Barclays, Oracle, ISI, Exxon Mobil, Occidental Petroleum — Energy, Chevron, Occidental, Owl, Mirati Therapeutics, Bristol, Bristol Myers Squibb, China Passenger Car Association, Lockheed, Hamas Locations: Brooklyn, New York City, Chevron, Israel, China, Palestinian

☆ Stocks making the biggest moves midday: General Dynamics, United Airlines, Spotify and more
▼ + stars: | 2023-10-09 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Spotify — Shares of the music streaming service company fell 2.5% after Redburn Atlantic downgraded the streaming giant to neutral from buy. Tesla — The automaker's stock fell 2.3% in Monday trading upon news that the company's year-over-year sales declined 10.9% in China last month, according to data from the China Passenger Car Association. Oil stocks — Energy stocks soared following the escalation of the Israel-Hamas conflict over the weekend. Airline stocks — On a broader level, airline names were down after several major airlines suspended service to Israel following this weekend's attacks. United Airlines slid 5.3%, while Delta Air Lines and American Airlines shed 4.5% and 5.3%, respectively.

Persons: Elizabeth, Saket Kalia, Bristol Myers, Tesla, Baird, — Datadog, Hess, Northrop Grumman, Yun Li, Tanaya Macheel, Sarah Min, Jesse Pound Organizations: General Dynamics Corp, Spotify, Atlantic, Amazon, Barclays, Therapeutics, Bristol, Bristol Myers Squibb, China Passenger Car Association, Motorola Solutions, Motorola, Bank of America, — Energy, Halliburton, CF Industries, Defense, L3Harris Technologies, General Dynamics, Airline, United Airlines, Delta Air Lines, American Airlines Locations: NASSCO, Norfolk , Virginia, China, Israel, Palestine

The Hamas attack left at least 250 dead and 1,500 wounded in Israel. The attack only adds new complications as the Biden administration and Iran are locked in disputes over Tehran’s nuclear program. Biden administration officials have also been working on brokering a normalization of relations between Israel and Saudi Arabia, the most powerful and wealthy Arab state. Biden administration officials pushed back against the argument. Administration officials roundly rejected this, saying their efforts to help Palestinian civilians in Gaza and elsewhere do not involve money that Hamas can use or divert.

Persons: Joe Biden, Biden, Benjamin Netanyahu, “ unconscionable ”, ”, ” Biden, Obama, —, won’t, ” Netanyahu, Israel, Jonathan Schanzer, “, Netanyahu, Schanzer, Donald Trump, Ron DeSantis, Carolina Sen, Tim Scott, Matthew Miller, State Victoria Nuland, Barbara Leaf, Seung Min Kim, Jill Colvin, Thomas Beaumont Organizations: WASHINGTON, GOP, Hamas, Hezbollah, Biden, European, Middle East, White, Trump White, Foundation for Defense of Democracies, Republican, Israel ., Israel . Florida Gov, Department, Foreign Relations, Islamic, State Victoria, Republicans, Administration, Associated Press Locations: Israel, Jerusalem, Gaza, Iran, Saudi Arabia, Saudi, Egypt, Syria, Washington, Israel . Florida, Carolina, U.S, Islamic Republic, Lebanon, New York, Waterloo , Iowa

☆ These books are being used to train AI. No one told the authors
▼ + stars: | 2023-10-08 | by ( Leah Asmelash | ) edition.cnn.com time to read: +7 min

CNN —Almost 200,000 books are being used to train artificial intelligence systems by some of the biggest companies in technology. Books3 is already the subject of multiple lawsuits against Meta and other companies using the system to train AI. Now, thanks to a database published by The Atlantic last week pulling from Books3, authors can see whether their books specifically are being used to train these AI systems. They stole a part of me.”Nora Roberts, the prolific romance novelist, has 206 books used in the Books3 database, according to The Atlantic. With the popularity of text-to-image AI systems, visual artists were in same situation last year, discovering their work was being used to train AI without permission.

Persons: Books3, “, ”, Mary H, Choi, “ I’m, I’m, ” Choi, ” Min Jin Lee, Pachinko, ” “, Al, ” Nora Roberts, William Shakespeare, ” Roberts, Nik Sharma, I’d, Sharma, ” Sharma, James Chappel, ” Chappel, ChatGPT, aren’t, Joe Biden, Choi isn’t, Roberts Organizations: CNN, The Atlantic, Meta, New York Times, Food, Millionaires, West, Bloomberg, Guild of America, WGA Locations: Korean

☆ Wall Street will seek confirmation inflation is easing in the week ahead after Friday's jobs report
▼ + stars: | 2023-10-06 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

A soft inflation reading in the week ahead after Friday's jobs report could be the signal stocks need to turn around after their recent carnage from rising bond yields. Some market participants are hopeful stocks can start to rebound from their recent lows if next week's inflation reports confirm price pressures easing. The producer price index comes out Wednesday, while the consumer price index is due out Thursday. The September consumer price index that's due out Thursday is expected to show easing inflation. Export Price Index (September) 10 a.m. Michigan Sentiment preliminary (October) Earnings: BlackRock , UnitedHealth Group , The PNC Financial Services Group , JPMorgan Chase , W ells Fargo , Citigroup

Persons: Stocks, Jim Lebenthal, Lebenthal, Dow Jones, it's, Mary Daly, we'll, Hogan, Wells, BlackRock, Price, JPMorgan Chase Organizations: Federal Reserve, Dow Jones Industrial, Cerity Partners, CPI, PPI, Treasury, Dow, San Francisco Fed, Riley, JPMorgan Chase, Citigroup, UnitedHealth, PepsiCo, Treasury Budget, Delta Air Lines, Walgreens, Alliance, Price, UnitedHealth Group, PNC Financial Services Group, JPMorgan Locations: U.S, Wells Fargo, Michigan

LOS ANGELES (AP) — A massive health care strike over wages and staffing shortages headed into its final day on Friday without a deal between industry giant Kaiser Permanente and the unions representing the 75,000 workers who picketed this week. “No health care worker wants to go on strike,” Caroline Lucas, the coalition's executive director, said Thursday. The strike comes in a year when there have been work stoppages within multiple industries, including transportation, entertainment and hospitality. The health care industry alone has been hit by several strikes this year as it confronts burnout from heavy workloads — problems greatly exacerbated by the COVID-19 pandemic. The White House on Thursday said President Joe Biden “always” supports union members who choose to strike when asked about the demonstration by Kaiser workers.

Persons: Kaiser, ” Caroline Lucas, “, Hilary Costa, Lucas, ”, Joe Biden “, Seung Min Kim Organizations: ANGELES, Kaiser Permanente, Coalition, Kaiser Permanente Unions, D.C, “, ”, Kaiser, United Auto Workers, Associated Locations: Kaiser, California —, Colorado , Oregon, Washington, Virginia, Oakland , California, Michigan

☆ Stock futures are little changed as traders await Friday's jobs report: Live updates
▼ + stars: | 2023-10-05 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. U.S. stock futures were little changed on Thursday night as traders awaited Friday's jobs report. S&P 500 futures and Nasdaq 100 futures dipped 0.07% and 0.04%, respectively. Those moves come as investors awaited the September jobs report. Many market participants are hoping a somewhat softer jobs report will break the fever in bond yields, which have risen sharply and weighed on equities.

Persons: Dow, Dow Jones Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Investors, Treasury Locations: New York City, U.S

☆ Wall Street sees the market's bumpy ride continuing in the 4th quarter. Here are the risks in store
▼ + stars: | 2023-10-05 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Many investors expect that could be the capitulation event equities need to bottom out before rebounding. "If you get down to five and a quarter all hell's gonna break loose," Rob Ginsberg, managing director at Wolfe Research. The yield on the 10-year Treasury has spiked sharply to about 4.8% this week, about 1 whole percentage point above where it was in mid-July at around 3.7%. In fact, it won't take much for the positive narrative to start to take hold in markets, Hogan said. Hogan anticipates the S & P 500 could rise to 4,800 by year end, about 13% above where it is currently.

Persons: Rob Ginsberg, Fitch, Ray Dalio, Jamie Dimon, Wolfe Research's Ginsberg, Ginsberg doesn't, You'll, Ginsberg, Riley Financial's Art Hogan, they'll, Read, Hogan, Kevin McCarthy, Goldman Sachs, Jan Hatzius, Katie Stockton, Bank of America's Stephen Suttmeier, Jeffrey Hirsch, I'm, Hirsch Organizations: Dow Jones, Treasury, Wolfe Research, Federal Reserve, JPMorgan, CNBC Pro's, Supply, Bank of America's Locations: Saudi Arabia

☆ U.S. Inflation Reduction Act: We'll keep looking for anything outside of China, says SK On
▼ + stars: | 2023-10-05 | 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 EmailU.S. Inflation Reduction Act: We'll keep looking for anything outside of China, says SK OnSung Min-Suk, chief commercial officer of SK On, says "we're trying to expand further into the upstream areas."

Persons: Sung Min, Suk, we're Organizations: U.S, SK Locations: China

☆ Stocks making the biggest moves midday: Rivian, Orchard Therapeutics, Lamb Weston and more
▼ + stars: | 2023-10-05 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Rivian said it anticipates revenue to range between $1.29 billion and $1.33 billion, versus the $1.3 billion forecast by analysts polled by LSEG, formerly known as Refinitiv. Clorox — Shares dropped 7.7% on Thursday, one day after the product maker offered worse fiscal first-quarter guidance than analysts polled by FactSet expected. Oculis — Shares rose 3.4% after Stifel initiated coverage of the biopharma company with a buy rating and $35 target price. Johnson & Johnson — Shares of the health-care giant added 0.8% in midday trading after RBC initiated company coverage with an outperform rating. Instacart — Instacart fell 2.9% after Bernstein initiated coverage of the company at a market perform rating, noting that increased competition challenged the delivery company's strong digital advertising business.

Persons: Rivian, Clorox, FactSet, Kyowa Kirin, Vestis, Oculis, Wedbush, Shagun Singh, Lamb Weston — Lamb Weston, Tom Werner, Instacart — Instacart, Bernstein, — CNBC's Brian Evans, Alex Harring, Tanaya Macheel, Sarah Min, Jesse Pound, Pia Singh, Samantha Subin, Michelle Fox Theobald Organizations: Rivian, Rivian Automotive, LSEG, Exxon Mobil —, UWM Holdings, BTIG, Orchard Therapeutics, Kyowa, Redburn, JPMorgan, Carrier, Bank of America, Johnson, RBC, Constellation Locations: Aramark, Europe

☆ Singapore: In this expensive city, the right to own a car costs $76,000. And that doesn't include the car
▼ + stars: | 2023-10-05 | by ( Heather Chen | ) edition.cnn.com time to read: +3 min

CNN —Owning a car in Singapore, one of the world’s most expensive countries, has always been something of a luxury. Those who want something bigger or flashier – like an SUV – will have to fork out $106,630 (146,002 Singapore dollars) for the Category B license – up from $102,900 (140,889 Singapore dollars). It has put cars out of reach for the average resident of Singapore, where the median monthly household income in 2022 was $7,376 (10,099 Singapore dollars), according to the Department of Statistics. Those who can’t afford a Certificate of Entitlement can also make use of Singapore’s extensive public transport system they point out. Failing that, there is the option of getting a motorbike – permits for which are a relative snip at $7,930 (10,856 Singapore dollars).

Persons: Ricky Goh, “, ”, Wong Hui Min, ” Wong Organizations: CNN, Transport Authority, Department of Statistics Locations: Singapore, Bangkok, Jakarta, Hanoi

☆ This Singaporean is raising her kids in Sweden. Here are 3 parenting habits she picked up
▼ + stars: | 2023-10-05 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +5 min

They love life a little bit more because they know how to enjoy it," said Min, a Singaporean raising her kids in Sweden. For the past nine years, Min, a Singaporean, has been traveling and working in various places — from South Korea to Spain and now, Sweden. Free playLiving in Sweden brought Min and her family much closer to nature — her kids attend forest school on the weekends. "In Sweden, children have a lot of say, they are respected and they have a voice — just like adults," Min said. But in Sweden, kids can choose whether they want to use the time to get some shuteye — or play.

Persons: Min, We've, — Organizations: Autonomy Locations: Sweden, South Korea, Spain, Stockholm, Singapore, preschools

☆ Stocks making the biggest moves midday: Sunnova Energy, Cal-Maine Foods, Marathon Petroleum and more
▼ + stars: | 2023-10-04 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Check out the companies making headlines in midday trading. Carnival — Cruise line stocks rose as a group during midday trading. Sunnova Energy , Sunrun — Sunnova Energy added 2.2%, while Sunrun declined 1.1% after Truist downgraded the solar stocks to hold from buy ratings, citing near-term concerns from elevated interest rates. Cal-Maine Foods — Shares slipped 7.3% after the egg producer provided a weak earnings report, citing a dynamic market environment. Energy stocks — Energy stocks fell as a group during midday trading Wednesday as oil prices slid more than $3 a barrel.

Persons: Truist, Insulet, Wayde McMillan, Phillips, —, Alex Harring, Samantha Subin Organizations: Fluor Corporation, UBS, Cruise, Royal Caribbean, Sunnova Energy, Energy, Cal, Maine, FactSet, Intel, — Energy, Marathon Petroleum Locations: Fluor, Insulet

☆ How high could interest rates go? Where analysts see the 10-year yield headed next
▼ + stars: | 2023-10-03 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The 10-year U.S. Treasury yield has hit its highest level in 16 years, but a host of economists and money managers and investors expect it can go still further. If the 10-year yield broke out convincingly above 5.25%, Ginsberg said it could next move above 7% — although he'd be "shocked" to see yields that high. He assumes that even a 10-year yield above 5% will cause something to go wrong in one corner of the market or the economy. "It's gonna be a challenging environment for investors, for stock investors," Ginsberg said. However, he expects the 10-year yield could stabilize around 4.5% and 5%.

Persons: Ed Yardeni, Rob Ginsberg, Ginsberg, We're, Russell, Katie Stockton, Stockton, Wolfe Research's Ginsberg, Ray Dalio, Yardeni Organizations: Treasury, Yardeni, Research, Apple, Nvidia, U.S ., Bridgewater Associates Locations: Stockton

☆ KeyBanc downgrades Airbnb, says travel demand will ease after pandemic recovery
▼ + stars: | 2023-10-03 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

It's time to step to the sidelines on shares of Airbnb as the Covid-19 pandemic recovery bump fades, according to KeyBanc Capital Markets. ABNB 1D mountain Airbnb "Our call is that leisure travel has experienced a material recovery from 2021-2023E, resulting in outsized margin expansion, " Patterson wrote in a Monday note. "As these tailwinds fade, we see elevated risk to [room nights and experiences] and [average daily rate] growth." Airbnb has outperformed this year as a resilient consumer shelled out money for travel and experiences. "We believe this could create an overhang on shares as ABNB transitions from a growth to GARP investor base," Patterson said.

Persons: Justin Patterson, Patterson, Airbnb, — CNBC's Michael Bloom Organizations: KeyBanc, Markets Locations: Airbnb, New York City

The Emergency Alert System is a national public warning system that's designed to allow the president to speak to the American people within 10 minutes during a national emergency via specific outlets such as radio and television. And Wireless Emergency Alerts are short messages — 360 characters or less — that go to mobile phones to alert their owner to important information. Wireless phone customers in the United States whose phones were on got a message saying: “THIS IS A TEST of the National Wireless Emergency Alert System. That messages said: “This is a nationwide test of the Emergency Alert System, issued by the Federal Emergency Management Agency, covering the United States from 14:20 to 14:50 hours ET. “But I’m glad to know the national alert system works.”The test also sparked discussion about how it could affect people in abusive situations.

Persons: Antwane Johnson, Johnson, he'd, who'd, ”, Jeremy Edwards, it's, ’, Karine Jean, Pierre said, Antony Blinken, ” Blinken, Matthew Lee, Seung Min Kim Organizations: WASHINGTON, Wireless, National Wireless, Emergency, Federal Emergency Management Agency, FEMA, White, University of Texas, Associated Press Locations: Tennessee, United States, naptimes, Austin, Ukraine, “, Washington

☆ Stocks making the biggest moves premarket: Warby Parker, HP, Point Biopharma and more
▼ + stars: | 2023-10-03 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Co-CEOs Neil Blumenthal and Dave Gilboa of Warby Parker at the New York Stock Exchange on Sept. 29, 2021. Warby Parker — Warby Parker jumped about 4% after Evercore ISI upgraded the eyeglass retailer to an outperform rating, saying shares could rally more than 50% as the company's margins and revenue growth reaccelerate. Eli Lilly , Point Biopharma — Shares of Point Biopharma popped 85% after Eli Lilly announced it would buy the cancer therapy maker for $12.50 a share in cash, or roughly $1.4 billion. Warner Music Group — Warner added 3.5% after UBS upgraded the stock to buy from neutral. Emerson Electric — The industrial giant dipped 1% in premarket trading after UBS downgraded the stock to neutral from buy, citing the company's valuation and limited upside.

Persons: Neil Blumenthal, Dave Gilboa, Warby Parker, Warby Parker — Warby Parker, Eli Lilly, Biopharma, McCormick —, McCormick, Roth MKM, —, Alex Harring, Sarah Min, Michelle Fox, Pia Singh Organizations: New York Stock Exchange, ISI, HP, Bank of America, StreetAccount, Warner Music Group, Warner, UBS, KeyBanc, Emerson

☆ October is known for big drawdowns and charts suggest a 'capitulation event' is likely, says Bank of America
▼ + stars: | 2023-10-02 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

A capitulation event is likely in October before stocks can ride a year-end rally, according to Bank of America. Investors are coming off the worst month of the year for the S & P 500 and Nasdaq Composite . The Cboe 3-Month Volatility Index and Cboe Volatility Index are used in tandem to measure volatility in the S & P 500. The former gauges the S & P 500's implied volatility over three months, while the latter reflects the index's 30-day volatility. "The late 2023 setup resembles those from late 2012, late 2016 and late 2019," Suttmeier wrote.

Persons: Stephen Suttmeier, Suttmeier, Trump, Michael Bloom Organizations: Bank of America, Investors, Nasdaq, China Trade Locations: Brexit

☆ Stocks making the biggest moves premarket: Rivian, SolarEdge, Sphere Entertainment and more
▼ + stars: | 2023-10-02 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Sphere Entertainment — The stock jumped more than 7% after the entertainment and media company opened its Sphere venue in Las Vegas with a show from U2 on Friday night. Insulet — Shares gained 3.4% in premarket trading. Sunnova Energy International — UBS initiated coverage of the solar company with a buy rating, sending shares up 1.5% in premarket trading. Clorox — The consumer products company rose 3.3% in premarket trading after D.A. AMC Entertainment — Shares of the entertainment company moved up 2% before the bell after it announced that Renaissance: A Film by Beyoncé, would be distributed in the U.S. in December.

Persons: Jefferies, Sunnova, Clorox, Davidson, Beyoncé, Goldman Sachs, Chubb —, — CNBC's Michelle Fox, Lisa Han, Jesse Pound Organizations: ISI, Rivian Automotive, Sunnova Energy, — UBS, AMC, SolarEdge Technologies, Barclays, Nvidia, FedEx, Susquehanna, JPMorgan, Chubb Limited Locations: Las Vegas , Nevada, United States, Las Vegas, U.S

☆ Stocks making the biggest moves midday: Sphere Entertainment, Riot, Instacart, Insulet and more
▼ + stars: | 2023-10-02 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading. Sphere Entertainment — Shares of the media and entertainment company climbed 11.1% in midday trading after a U2 show debuted its Las Vegas Sphere venue Friday night. Bitcoin stocks — Stocks tied to digital currency trading advanced in lockstep with a rally in crypto prices. Instacart — Maplebear, the food delivery company doing business as Instacart, fell 9.2% in midday trading. The Wall Street bank said investors should buy the dip after the stock's underperformance in the first half of 2023.

Persons: — Stocks, MicroStrategy, —, — Maplebear, Gordon Haskett, Insulet, Jefferies, Goldman Sachs, Goldman, Truist, Yun Li, Lisa Kailai Han, Pia Singh, Michelle Fox, Sarah Min, Scott Schnipper Organizations: Madison Square Garden, —, Riot, Marathon, Discover Financial, U.S . Securities, Exchange, Federal Deposit Insurance Corporation, Coeur Mining, Hecla Mining, Harmony, Mining, Gold Resource, Barclays, Norfolk Southern, Bank of America, Nvidia —, Nvidia, Apple, JPMorgan, UBS Locations: Las Vegas, lockstep, Coeur, Wall

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