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☆ Here’s what typically happens to the stock market next after such a strong first half
▼ + stars: | 2024-06-28 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Even better: The fact that the S & P 500 has performed so well this year makes the outlook sweeter. In years with the S & P 500 climbing more than 10% in the first six months, it jumped 7.9% in the typical second half. Presidential election years also typically bring returns in the second half of the year, according to Stovall's data. For the entire second half, the S & P 500 has climbed 3.5% on average. Some investors are wondering how much farther the S & P 500 can run up after notching all-time highs this year.

Persons: CFRA Research's Sam Stovall Organizations: Federal Reserve, CNBC

☆ Morgan Stanley says deal-making is returning to Wall Street and gives best stocks to play trend
▼ + stars: | 2024-06-27 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Morgan Stanley sees a comeback in Wall Street deals underway — and expects some financial stocks to reap the benefits. However, Goldman Sachs said sponsor-led mergers and acquisitions do not necessarily need a decrease in interest rates to take off. Stadnik said a capital markets renaissance is one key reason to be overweight money center banks. Of this group, he called Goldman Sachs the "purest play" on this theme. Goldman Sachs shares have climbed more than 15% this year.

Persons: Morgan Stanley, Andrei Stadnik, Stadnik, Morgan Stanley's, Goldman Sachs, Blackstone, Morgan, LSEG Organizations: Wall Street, JPMorgan, LSEG Locations: U.S

☆ Jim Cramer names winning stocks for a more frugal consumer
▼ + stars: | 2024-06-26 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Wednesday said most consumers are not necessarily hurting for cash, but are sick of high prices and on the hunt for bargains. "Let's suspend the notion that the consumer's totally strapped for cash, that's wrong," he said. To Cramer, consumers are flocking to bargain outfits like Walmart and Costco , and he pointed out that the latter's low-cost signature brands are especially appealing. He named TJX , Ollie's , Ross Stores and Burlington Stores , all up year-to-date at 17.83%, 29.54%, 7.48% and 23.05% respectively. "We know apparel inflation has been sticky in the consumer price index, but these four off-price chains are cutting the price of apparel aggressively," he said.

Persons: CNBC's Jim Cramer, Let's, Cramer, TJX Organizations: Walmart, Costco, CVS, Walgreens, Ross Stores, Burlington Stores Locations: Ollie's

☆ Turkey 0 Portugal 3: Win secures top spot, a calamitous own goal and pitch invaders target Ronaldo
▼ + stars: | 2024-06-22 | by ( Jacob Whitehead | Tim Spiers | ) www.nytimes.com time to read: +9 min

Both lay entangled in the Turkish net, sandwiched between a view of reality in front of them and the sound of insanity from Portugal’s fans behind them. So keen must Ronaldo have been to actually watch a Portugal goal being scored, he squared to Fernandes when in on goal for the third. Another, a fully-grown man, almost grappled the Portugal striker with his arm tightly around his neck, which Ronaldo then removed. Tim SpiersTurkey bring the noise, Ronaldo feels its forceWith 25,000 Turkey fans in Signal Iduna Park’s south stand — usually Borussia Dortmund’s Yellow Wall, today deep red — decibels became a construct. But here, in the shape of Portugal’s Ronaldo, there was a focal point to their anger, as well as their support.

Persons: Bernardo Silva’s, Samet Akaydin, Bruno Fernandes, Cristiano Ronaldo, Tim Spiers, Jacob Whitehead, Altay Bayindir, Bernardo, Joao Cancelo, Ronaldo, Akaydin, Bayindir, Zeki Celik, Dean Mouhtaropoulos, Kose, Kenzo Tribouillard, Jacob Whitehead Portugal, you’re Ronaldo, Nuno Mendes ’, Friso, Ronny, Fernandes, Rico Brouwer, Goncalo Ramos, hobbled, Ronaldo selfie, Roberto Martinez, Martinez, Cancelo, Joao Palhinha, Pepe, imperious, Mendes, Rafael Leao, Tim Spiers Turkey, Portugal’s Ronaldo, Ronaldo’s, —, howls Organizations: Premier League for Manchester United, Getty Images, Getty, European, YouTube, UEFA, Turkey, Borussia Locations: Portugal, Turkey, Dortmund, Germany, Spain, Czech Republic, AFP, Scotland, Albania, Slovenia, Georgia, Hamburg, Gelsenkirchen

☆ Wall Street is set to wrap up a strong first half with a key inflation report on deck
▼ + stars: | 2024-06-21 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

With stocks set to close out a strong first half of 2024, investors have just one more key inflation hurdle to clear in the week ahead: May's personal expenditure report. Next week's personal consumption expenditure data, the Federal Reserve's preferred inflation gauge, could show whether that overall picture is intact. May's consumer price index, for example, showed no increase from the prior month. Last month's producer price index , a measure of wholesale prices, unexpectedly dropped from the previous reading. Pending Home Sales Index (May) 11 a.m. Kansas City Fed Manufacturing Index (June) Earnings: Nike, Walgreens Boots Alliance , McCormick & Co. Friday June 28 8:30 a.m.

Persons: Stocks, Terry Sandven, Goldman Sachs, David Kostin, Scott Chronert, Brian Leonard, Leonard, Bank's Sandven, Sandven, Mills Organizations: Nvidia, Microsoft, U.S, Bank Asset Management, Federal, PCE, Bank of America Securities, Wall, Keeley, Advisors, FedEx, Dow, Nasdaq, Dallas Fed, Chicago, Richmond Fed, Carnival, New, Micron Technology, . Kansas City Fed Manufacturing, Nike, Walgreens Boots Alliance, McCormick, Chicago PMI Locations: . Kansas, Chicago, Michigan

☆ Election Updates: Trump has rapidly eroded Biden’s edge in the 2024 cash battle.
▼ + stars: | 2024-06-21 | by ( Shane Goldmacher | Theodore Schleifer | ) www.nytimes.com time to read: +10 min

Overall, Mr. Trump was a daunting $100 million behind Mr. Biden at the start of April. And for the first time, Mr. Trump’s principal campaign committee had more cash than Mr. Biden’s: $116.5 million to $91.6 million. report does not translate to boots on the ground tomorrow,” Dan Kanninen, Mr. Biden’s battleground states director, said in an interview. So far, Mr. Biden has enjoyed a tremendous advertising advantage over Mr. Trump. Hopefully that changes as we get even closer.”For now, Mr. Biden is racing to replenish his coffers in June.

Persons: Donald J, Trump, Biden, outpacing, Trump’s, ”, Brian Derrick, ” Mr, Timothy Mellon, “ What’s, Dan Kanninen, Donald Trump, ” Steven Cheung, Mr, Joe, President Trump, Cheung, Jimmy Kimmel, Barack Obama, Erin Schaff, Nikki Haley, Haley’s, John Paulson, Stephen A, MAGA, Rufus Gifford, Mitt Romney, Barack Obama’s, Jon Reinish, He’s, Obama, Terry McAuliffe, Bill Clinton, — Andy Beshear, JB Pritzker, Gretchen Whitmer Organizations: Mr, Democratic National Committee, Republican National Committee, Trump, Biden, Democratic, Republican, The New York Times, Blackstone, Make, Inc, MAGA Inc, Hollywood, Illinois Locations: New York, Los Angeles, Trump’s Florida, Mar, AdImpact, Pennsylvania, Georgia, Virginia, Kentucky, Michigan, Atlanta

☆ Nvidia’s shares are on fire. The broader stock market looks less rosy
▼ + stars: | 2024-06-21 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —Nvidia’s eye-popping gains this year have helped propel the stock market to repeated record highs. Can Nvidia’s blockbuster gains continue, and what does its outsized market cap mean for the stock rally? Now everyone says, “the market is dependent on Nvidia’s earnings.” You’re going to see a kind of a shift in market cap over the years. “These lower mortgage rates coupled with the gradually improving housing supply bodes well for the housing market.”Still, mortgage rates remain higher than anything seen in the decade before 2022, the year the Federal Reserve began to raise interest rates to combat inflation. The Fed doesn’t directly set mortgage rates but its actions do influence them through the benchmark 10-year US Treasury yield, which moves in anticipation of the Fed’s policy moves.

Persons: OpenAI’s, Bell, Christopher Barto, ” You’re, Bryan Mena, Freddie Mac, ”, Sam Khater, Freddie Mac’s, don’t, Read, Ilya Sutskever, Clare Duffy, Sutskever, Geoffrey Hinton Organizations: CNN Business, Bell, New York CNN, Nvidia, Microsoft, Fort Pitt Capital Group, Apple, Meta, Google, Amazon, “, Federal Reserve, Treasury, Superintelligence Inc, SSI Locations: New York

☆ Mortgage rates fall to their lowest level in almost three months
▼ + stars: | 2024-06-20 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington CNN —Mortgage rates fell this week to their lowest level since early April, taking some pressure off America’s unaffordable housing market. “These lower mortgage rates coupled with the gradually improving housing supply bodes well for the housing market.”Still, mortgage rates remain higher than anything seen in the decade before 2022, the year the Federal Reserve began to raise interest rates to combat inflation. Economists don’t expect the average mortgage rate to fall below 6% this year. Homebuilding constrained by high interest ratesWhile mortgage rates have eased recently, the US housing market overall remains hamstrung by elevated interest rates, which seem to be taking a toll on homebuilding. “Persistently high mortgage rates are keeping many prospective buyers on the sidelines,” NAHB Chairman Carl Harris said in a release.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, don’t, America’s homebuilders, “, Carl Harris, ” Skylar Olsen Organizations: Washington CNN —, “, Federal Reserve, Treasury, National Association of Home Builders Locations: ., Wells Fargo, America, San Diego , Los Angeles and New York, California, Honolulu

☆ JPMorgan raises its EPS estimates for Apple, says stock could rise another 13%
▼ + stars: | 2024-06-18 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. "We don't want to be too greedy after a parabolic move," said Jeff Marks, the CNBC Investing Club's director of portfolio analysis. 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, Jeff Marks, We're, Jim Cramer's, MSFT, DOV, Jim Organizations: CNBC, Broadcom, JPMorgan, Apple's Worldwide, Conference, Wall Locations: U.S, Dover

☆ Nvidia swipes the crown from Microsoft — plus, the fuel for Best Buy's latest move higher
▼ + stars: | 2024-06-18 | 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. Up next: There's not a whole lot expected to happen on Wall Street over the next 24 hours. 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, Eaton —, There's, we'll, we're, Jim Cramer's, Jim Organizations: CNBC, Nvidia, Apple, Microsoft, Broadcom, Energy, Boeing, UBS, Accenture, Kroger, Olive Garden, Darden, Jim Cramer's Charitable Locations: Wells, Dover, U.S

☆ Here are 9 stocks that can benefit from Fed interest rate cuts
▼ + stars: | 2024-06-13 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Housing We see Stanley Black & Decker as a major beneficiary of Fed rate cuts due to its link to the housing market. On the one hand, lower rates mean a bank like Wells Fargo makes less money on the money it lends. Biotech Danaher should also see some benefit as lower rates lead to improved funding dynamics for biotech companies. Like in housing, monthly payments become far more manageable at lower rates, and therefore affordability and demand, stand to increase. Salesforce , which has also highlighted more measured deal activity, might not benefit as much from lower rates.

Persons: Jerome Powell, Stanley Black, Decker, Stanley, That's, Wells, Morgan Stanley, SVB, Ford, We're, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: Nasdaq, CNBC, Fed, Biotech, Silicon Valley Bank, Ford, Palo, Networks, Microsoft, Jim Cramer's Charitable, Bloomberg, Getty Locations: Wells, Wells Fargo, Silicon Valley, Colma , California

☆ Bank of America gets more bullish on this chip stock that will power Apple's AI transformation
▼ + stars: | 2024-06-12 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

The investment case for Taiwan Semiconductor Manufacturing just got stronger after Apple's push into artificial intelligence, according to Bank of America. Analyst Brad Lin hiked his price objective on Taiwan Semiconductor, saying the buy-rated chipmaker is an "indispensable and reliable partner" to Apple. TSM 1D mountain Taiwan Semiconductor Manufacturing Co. The U.S.-listed shares of Taiwan Semiconductor have already outperformed this year, advancing roughly 60%. Lin noted that Apple is Taiwan Semiconductor's biggest customer, accounting for roughly one-quarter of the chipmaker's revenue.

Persons: Brad Lin, Lin Organizations: Taiwan Semiconductor Manufacturing, Bank of America, Taiwan Semiconductor, Apple, Apple Intelligence, Taiwan Semiconductor Manufacturing Co, Taiwan Semiconductor's Locations: U.S, Taiwan

☆ Here's an undervalued stock that can benefit from new Alzheimer's drugs
▼ + stars: | 2024-06-11 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Financials, Morgan Stanley, Wells, —, Jim, Eli Lilly, Biogen, Jim Cramer's, LLY, DOV Organizations: CNBC, Federal, GE Healthcare, FDA, GE, JPMorgan, Dover Locations: That's, Dover

☆ Adults are flocking to the toy aisle even more than preschoolers
▼ + stars: | 2024-06-07 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +3 min

Looking back over a longer period, the report said as many as 43% of adults purchased a toy for themselves in the past year, with the top reasons being for personal fun, socialization and for collecting. Trading cards, Squishmallows (which are a rage across age groups), Lego sets and sports toys were among the most sought-after toy products in the period, the report said. As adults play with toys more and more, the trend bodes well to counter the decline in overall toy sales. Circana said toy industry dollar sales declined by 1% through April, versus the same period a year ago but are still up 38% compared to 2019. “Tailwinds, like the growing adult toy market and spending power of higher income households and grandparents, drive positive trends,” Juli Lennett, vice president and toy industry advisor at Circana, said in the report.

Persons: Circana, “, Juli Lennett, Barbie, Aaron Lavinsky, ”, James Zahn, ” Zahn Organizations: New, New York CNN —, Consumers, Star Tribune, Getty, CNN, Marvel, Hasbro, Star Locations: New York, ‘

☆ Golden Age for Rich Renters: Deals Make It Better Than Buying a Home
▼ + stars: | 2024-06-05 | by ( James Rodriguez | ) www.businessinsider.com time to read: +10 min

The result is that class A units account for more than half the apartment market, compared with one-third in the early 2000s, according to Moody's Analytics. High-end apartments that offer amenities up the wazoo — and rent breaks, to boot — represent a tantalizing alternative to the for-sale market right now. But as with all good things, the golden age for America's wealthy renters must also come to an end. Nations told me she still hoped to buy a home one day. "I know how challenging it is to rent in Nashville, especially on your own," Nations told me.

Persons: Emily Nations, she's, Nicole Bachaud, Rich, Joel Sanders, Sanders, Doug Ressler, David Brasington, Ressler, they're, — Organizations: Trinity, cabana, Nations, Analytics, University of Cincinnati, Census Locations: Nashville, downtown, Nations, New York, Salt Lake City, Atlanta, America, Houston, Austin, Phoenix, Charlotte, North Carolina, Raleigh , North Carolina, Tampa , Florida

☆ Goldman Sachs says buy this biotech stock with more than 60% upside
▼ + stars: | 2024-06-05 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

It's time for investors to buy the dip on Jazz Pharmaceuticals , according to Goldman Sachs. The investment bank initiated coverage of the pharmaceuticals stock with a buy rating, setting a 12-month price target of $169. Jazz Pharmaceuticals has slipped 15% this year. Indeed, investors have grown concerned over Jazz's potential loss of exclusivity and rising competition regarding oxybates, which reduces daytime sleepiness. An additional catalyst comes in the form of Vision 2025, Jazz's strategic initiative launched in January 2022 to target $5 billion in revenue from 2025.

Persons: Goldman Sachs, Andrea Tan, Tan Organizations: Jazz Pharmaceuticals

☆ Power demand is expected to surge. Play it for the long term with these dividend-paying stocks, Wells Fargo says
▼ + stars: | 2024-06-03 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +3 min

A sector of the stock market beloved by income investors could ride the wave of rising energy consumption over the long run, according to Wells Fargo. After 15 years of relatively flat power demand, Wells Fargo sees a compound annual growth rate of 2.6% through 2030 and 80% growth by 2050. The development bodes well for a group of utilities – and Wells Fargo called out some of its overweight-rated plays on the power trend for the long run. Wells called out the 10-year site plan NextEra subsidiary Florida Power & Light submitted to the state's public service commission. The stock's price "[reflects] a level of optimism," Wells Fargo analysts said, but "we think there is a case for further outperformance."

Persons: Neil Kalton, Wells Fargo, Wells, Duke, NextEra, it's Organizations: Duke Energy, Carolinas, Florida Power, Constellation Energy, Constellation, Microsoft, NRG Energy Locations: Wells Fargo, U.S, South Carolina, North Carolina, Virginia, Wells

☆ How East West Bancorp has gained an edge by serving the Asian American community
▼ + stars: | 2024-05-31 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

East West Bancorp shares have eked out a small gain in 2024, up 2%. Despite the heightened scrutiny around regional banks, little-known East West Bancorp has been able to pull ahead thanks to a key customer base: Asian Americans. American dream = home ownershipPart of what's helping East West succeed with Asian Americans goes all the way back to its origins. East West Bancorp was founded in 1973 as a federal savings and loan in the Los Angeles area to service the Chinese American and immigrant community struggling to obtain mortgages and business loans. East West also drives cross-border activity between the U.S. and other Asian countries, such as Thailand and Vietnam.

Persons: Alexander Yokum, Wells, Timur Braziler, Fannie Mae, Freddie Mac, —, Braziler, Christopher Del Moral, Niles, it's, Del, Steven Leung, Leung, CFRA's Yokum, Yokum, Dominic Ng, that's Organizations: East West Bancorp, Regional Banking, Bancorp, West Bancorp, CFRA, Federal Housing Finance Agency, East, East West, U.S, Bancorp's Locations: Southern California, U.S, United States, East, Los Angeles, Asia, FactSet, East West, New York, Beijing, China, Shanghai, Thailand, Vietnam, Washington

☆ A look at US economic data including inflation, jobless claims, and Treasury yields
▼ + stars: | 2024-05-30 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington CNN —US economic data released Thursday was broadly disappointing. And mortgage rates inched higher this week, thrusting the average rate back above the psychological 7% threshold. HousingHousing data released Thursday mostly showed that the market remains tough, especially for first-time buyers. The Fed doesn’t directly set mortgage rates, but its actions, which influence yields, do. There were 219,000 first-time claims filed during the week ended May 25, according to Labor Department data released Thursday.

Persons: ” Oren Klachkin, it’s, Freddie Mac, They’re, ” Lawrence Yun, hasn’t Organizations: Washington CNN, Treasury, Federal, Nationwide, Commerce, Housing, Fed, National Association of Realtors, ” Jobs, Labor Department, Dow, Nasdaq Locations: American

☆ We're cutting our price target on Salesforce after mixed earnings, soft guidance
▼ + stars: | 2024-05-29 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

The company's balance of margin expansion with the potential for faster top-line growth should lead to strong earnings growth. Non-GAAP operating margin benefited from the lower cost of revenues, sales and marketing, and general and administrative expenses. Management reduced its revenue growth forecast for the subscription and support business to slightly below 10% over last year. The adjusted operating margin target of 32.5% was reaffirmed and is in line with expectations. For the second quarter, Salesforce estimates revenues of $9.2 to $9.25 billion, below the $9.345 billion estimate.

Persons: Salesforce isn't, Brian Millham, Marc Benioff, we've, Salesforce, That's, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: Revenue, LSEG, SAP, Microsoft, Nvidia, CRM, Management, buybacks, CNBC, Bloomberg, Getty Locations: San Francisco , California, U.S

☆ 5 reasons the stock market is headed for a 4% gain in June, according to Fundstrat
▼ + stars: | 2024-05-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The S&P 500 is primed to rise 4% in June, according to Fundstrat's Tom Lee. AdvertisementThe stock market is poised to rise another 4% in June after jumping 5% in May, according to a Tuesday note from Fundstrat's Tom Lee. Lee said the S&P 500 could jump to 5,500 within the next month, driven by five positive market catalysts. Such a gain would send the S&P 500 to new all-time highs. But Nvidia's blowout earnings results last week could jolt investors to finally put that cash to work and buy stocks, according to Lee.

Persons: Tom Lee, Lee, — Organizations: Service, PCE, CPI, Bank of America

☆ Wells Fargo goes on quiet hiring spree to expand from lending. What it means for the stock
▼ + stars: | 2024-05-24 | by ( Morgan Chittum | ) www.cnbc.com time to read: +8 min

He added, "Wells Fargo could fetch a higher multiple in the market as a result." A Wells Fargo spokesperson declined to comment on the total number of CIB-related hires across all levels in the division. Wells Fargo and other banks have benefited in recent years as the Federal Reserve began hiking interest rates in March 2022. More recent data indicates that Wells Fargo's investment banking revenue share globally has jumped to No. A woman walks past Wells Fargo bank in New York City, U.S., March 17, 2020.

Persons: Wells, Wells Fargo, JPMorgan Chase, Jeff Marks, Charlie Scharf, Scharf, Doug Braunstein, Braunstein, Fernando Rivas, Rivas, Jonathan Weiss, Weiss, Piper Sandler, Wells Fargo's Scharf, NII, Kroger, Scharf's, Scott Siefers, Siefers, Jim Cramer's, Jim Cramer, Jim Organizations: Wall, CNBC, JPMorgan, CIB, Wells, North American Investment Banking, Barclays, Deutsche Bank, Suisse —, Management, Federal Reserve, Fed, Albertson's, Federal Trade Commission, Currency Locations: Wells Fargo, Americas, U.S, IPOs, Wells, New York City

☆ Nvidia stock keeps hitting records. Can investors with little to no shares still buy?
▼ + stars: | 2024-05-23 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

While known for sizeable pullbacks in the past, the upward trajectory of Nvidia's stock last year and this year cannot be denied. We've been in Nvidia stock since 2019, years before the AI revolution was sparked by ChatGPT's viral moment shortly after its late 2022 launch. Through its Nvidia AI Enterprise service, Nvidia is in the process of building out a potentially massive software business. With that, let's think about Nvidia stock from the perspective of a long-term investor— and that's the key consideration, the investment horizon. At the beginning of the year, Nvidia stock traded at $481 per share on a $20.80 forward earnings estimate or a forward P/E multiple of 23 times.

Persons: We've, Jim, —, Jensen Huang, Leonardo da Vinci, Jim —, it's, It's, you've, Nvidia's, Colette Kress, Tesla, Kress, Jim Cramer's, Jim Cramer, Josh Edelson Organizations: Nvidia, Club, Apple, Enterprise, Devices, Intel, Investing, GE, NVIDIA, CNBC, SAP Center, Afp, Getty Locations: San Jose , California

☆ More tech stocks are set to benefit from Nvidia's gain, according to analysts. Here's a lineup
▼ + stars: | 2024-05-23 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Bhattacharya said Super Micro is well-positioned with smaller cloud service providers that are expanding globally amid strong demand. SMCI YTD mountain Super Micro, year to date Taiwan Semiconductor also stands to gain from Nvidia's report, according to Bank of America analyst Brad Lin. Nvidia's strong forward guidance is a particularly good sign, Bank of America argued. Citigroup analyst Laura Chen told clients to expect "strong momentum to continue" at Taiwan Semiconductor following Nvidia's latest financial results. For the former, he listed Astera Labs , Credo Technology , Marvell Technology , Macom Technology Solutions and Monolithic Power Systems as likely winners given their high exposure.

Persons: Ruplu Bhattacharya, Bhattacharya, Supermicro, It's, FactSet, Brad Lin, Lin, Laura Chen, Dell, Asiya Merchant, Merchant, Tore Svanberg, Svanberg Organizations: Nvidia, Computer, Bank of America, Taiwan Semiconductor, Citigroup, Taiwan Semiconductor's, Citi, Dell, DELL, Technology, Marvell Technology, Macom Technology Solutions, Systems, Semiconductors, ON Semiconductor, Ambarella, Texas, Devices, Power Systems Locations: Taiwan, Taiwan Semiconductor's U.S

☆ Mortgage rates fall for the third straight week, dipping below 7%
▼ + stars: | 2024-05-23 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington CNN —Mortgage rates declined for the third consecutive week in a shred of good news for Americans dealing with a still-tough housing market. Mortgage rates track the benchmark 10-year US Treasury yield, which moves in anticipation of the Federal Reserve’s decisions on interest rates. Stubbornly high inflation this year has dashed hopes that the Fed could cut interest rates in the spring or in the summer. Some Fed officials said earlier this week that they likely won’t raise interest rates again and a few have said they expect to cut rates this year. With mortgage rates still elevated, some homeowners are deciding to stay put.

Persons: Freddie Mac, inflation’s cooldown, there’s, homebuyers, ” Sam Khater, Freddie Mac’s, That’s, ” Lawrence Yun, ”, Yun, Joe Biden Organizations: Washington CNN —, Treasury, National Association of Realtors, Fed, Housing Locations: San Diego, Chicago, Detroit

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