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☆ Why bitcoin has 12% upside in the weeks before the election, Standard Chartered says
▼ + stars: | 2024-10-15 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Bitcoin could hit a fresh all-time high ahead of the presidential election, Standard Chartered says. Standard Chartered estimates bitcoin could hit $73,800 in the next few weeks. In new research, head of digital asset research Geoff Kendrick estimated that the token could hit $73,800 before November's US presidential election, a 12% gain from current levels. Second, SAB 121 exemptions go hand-in-hand with MicroStrategy's announced plan to become a "bitcoin bank," offering bitcoin capital market instruments down the road. In Kendrick's mind, the outcome of the presidential election is secondary to these bullish forces, with both Trump and Harris victories boding well for the token.

Persons: Bitcoin, —, Geoff Kendrick, Kendrick, bitcoin, MicroStrategy, Geoffrey Kendrick, BNY Mellon, MicroStrategy's, Harris, Donald Trump Organizations: Chartered, Service, MicroStrategy, Standard, SAB, bitcoin, Kendrick, Trump, Republican, White Locations: lockstep

☆ Wall Street’s been on a two-year tear. Can the party last?
▼ + stars: | 2024-10-15 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

New York CNN —Wall Street traders are popping champagne and toasting the two-year anniversary of a period of outsized gains known as a bull market. What makes this bull market unusual is how much uncertainty and economic worry investors have had to contend with during its run. Historically, bull markets recover around 194% of the previous downturn, according to Sam Stovall, chief investment strategist at CFRA. While the first two years of a bull market often see significant gains, history shows that the third year can bring challenges, said Stovall. On average, bull markets entering their third year post a modest return of just 2%.

Persons: Stocks, Sam Stovall, Adam Turnquist, Quincy Krosby, “, Stovall Organizations: New, New York CNN, Wall, LPL, LPL Financial, Federal Locations: New York, Europe, East

☆ S&P 500 grinds higher to further record highs, finding little to fear in October
▼ + stars: | 2024-10-12 | by ( Michael Santoli | ) www.cnbc.com time to read: +7 min

This time of year typically tests nerves, more so when — as now — an election is onrushing and the S & P 500 was already up 20% for the year. Since June 30, the equal-weighted S & P 500 has gained 9.5%, more than triple the Nasdaq 100's rise. A buyer at the mid-July S & P 500 peak of 5667 sustained a quick 8% tumble in three weeks. Goldman Sachs calculated VIX being this elevated with the S & P 500 calmly clicking to record highs is essentially unheard-of. Cash that's still yielding well more than inflation and bonds holding their value allow investors to shoulder higher equity exposures rather than rotating out.

Persons: isn't, it's, Goldman Sachs, Cash, Friday's Organizations: Federal Reserve, Nasdaq, American Association of, Deutsche, –, Bank

☆ New York man fatally attacked by group of dogs in a backyard
▼ + stars: | 2024-10-11 | by ( Antonio Planas | Antonio Planas Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +2 min

A man was attacked and killed by several pit bull mixed dogs in a backyard this week in Albany, New York, and police are investigating whether charges are warranted. About 6 p.m. Wednesday, up to nine mixed-breed pit bulls “brutally and viciously” attacked a man in a backyard, Albany Police Chief Eric Hawkins said Thursday during a news conference. It was not known why he was in the yard, which was next door to the residence where the dogs lived, Hawkins said. The homeowner, who is a different person than the caretaker, does not live at the residence, Hawkins said. He said it was not clear why there were so many dogs at the residence or how the dogs got into a neighboring yard.

Persons: “, ”, Eric Hawkins, James Provost, Hawkins, ” Hawkins Organizations: Albany Police Locations: Albany , New York, Schenectady , New York

☆ Dollar bulls suffer setback as traders add to Fed cut bets
▼ + stars: | 2024-10-11 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar fell from two-month highs hit overnight versus its major peers after signs of weakness in the labor market boosted the case for quicker Federal Reserve rate cuts. Bets for a quarter-point Fed rate cut on Nov. 7 increased to 83.3% from 80.3% a day earlier, with the remaining odds for policy to stay steady, according to the CME Group's FedWatch Tool. A week earlier, there was a 32.1% chance of a half-point reduction and 67.9% probability of a quarter-point cut. The dollar added 0.06% to 148.68 yen , inching back towards Thursday's high of 149.58 yen, a level previously not seen since Aug. 2. The Australian dollar held firm at $0.67395 after rebounding from its lowest since Sept. 16 at $0.6702 on Thursday.

Persons: Tapas Strickland, Austan Goolsbee, Raphael Bostic Organizations: U.S, Treasury, National Australia Bank, Fed, Chicago Fed, Atlanta Fed Locations: China

☆ See Michael Jordan's new private jet, a $65 million Gulfstream G650ER with a flamboyant custom paint job
▼ + stars: | 2024-10-09 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Michael Jordan appears to have taken delivery of a Gulfstream G650ER. AdvertisementMichael Jordan appears to have taken delivery of a new private jet worth around $65 million. A Gulfstream G650ER with a flamboyant custom paint job, including the Jumpman logo, was filmed on the tarmac at Palm Beach International Airport in a video uploaded to TikTok on Monday. It also has space for its own bedroom, but it's unclear exactly how the interior of Jordan's jet is configured. According to JetSpy data, Jordan's G650ER has flown 13 times in the past two weeks, most of which appear to be related to the delivery process.

Persons: Michael Jordan, Elon Musk, Mark Zuckerberg, —, TikTok, Jeff Bezos, Jordan —, Jordan, G650ER Organizations: Gulfstream, Palm Beach International, Service, Federal Aviation, Elon, Nike, Chicago Bulls, Charlotte Hornets, Gulfstream G550 Locations: Tokyo, Florida

☆ Jürgen Klopp to become Red Bull’s global head of soccer in first job since leaving Liverpool
▼ + stars: | 2024-10-09 | by ( Ben Morse | ) edition.cnn.com time to read: +3 min

CNN —Jürgen Klopp was announced as the global head of soccer for the Red Bull group on Wednesday in what will be his first job since leaving Premier League giant Liverpool earlier this year. “By joining Red Bull at a global level, I want to develop, improve and support the incredible football talent that we have at our disposal. Before managing Liverpool, Klopp won the German league title twice with Borussia Dortmund. “We are very proud of this outstanding and certainly the strongest signing in Red Bull’s soccer history,” Oliver Mintzlaff, CEO of corporate projects and investments at Red Bull, said in a statement. In his role as Head of Soccer, he will be a game changer for our involvement in international soccer and its continued development.

Persons: Jürgen Klopp, Klopp, ” Klopp, Red Bull, Klopp won’t, ”, “, Julian Nagelsmann, ” Oliver Mintzlaff Organizations: CNN, Red Bull, Premier League, Liverpool, RB Leipzig, RB Salzburg, New York Red Bulls, “, Bull, Champions League, FA, FIFA Club, UEFA Super League, Europa League, Sky Sports, Red, German, Bayern Munich, Borussia Dortmund, Soccer Locations: Germany, Austria, New, Liverpool, “

☆ Jim Cramer looks at Amazon and Apple and why it can be tough to sit on good stocks
▼ + stars: | 2024-10-08 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Tuesday described why it can be difficult for investors to sit on solid stocks. "In the last decade, the toughest thing to do is to hold on to good stocks," he said. Cramer recapped action in the stocks of Apple and Amazon , which received downgrades on Monday — ratings with which Cramer disagreed. Both stocks sold off heavily on Monday, he pointed out, but they recovered by Tuesday — hampering investors' chances of buying back shares if they sold during the previous session. "I need you to understand that when analysts downgrade after stocks have already been hammered, when really good investors ignore the positives, then, it may be a grim time," Cramer said.

Persons: CNBC's Jim Cramer, downgrades, Cramer Organizations: Apple

☆ How to hedge the overall market with several critical events just around the corner
▼ + stars: | 2024-10-07 | by ( Michael Khouw | ) www.cnbc.com time to read: +7 min

The upcoming month is a crucial time for the stock market, with a series of events that will make an impact. A quick peek at the history of S & P earnings reveals a couple of things. Note that the chart below depicts S & P earnings on a logarithmic scale —S & P earnings have grown by more than ninefold since January 1991. Over the past two years, S & P earnings have grown from ~$196 "per share" to about $204, an increase of 4%, but the S & P 500 Index has risen by more than 60% over the same period. Why not purchase a downside SPDR S & P 500 ETF Trust put spread if these cause a pullback?

Persons: Low, we'll Organizations: U.S, Trust, CNBC, NBC UNIVERSAL Locations: U.S

Two racing teams, one owned by basketball legend Michael Jordan, filed a federal lawsuit on Wednesday, accusing NASCAR operators of being "monopolistic bullies" who line the pockets of the circuit's founding family. "The France family and NASCAR are monopolistic bullies," according to the lawsuit. A NASCAR rep on Wednesday morning said the motorsport organization was still reviewing the complaint and could not immediately comment. Racing teams receiving only about 13% of NASCAR's ever-increasing revenues, which include TV deals signed since 2001 worth about $23.1 billion, according to Polk. "By exploiting its monopoly power over the racing teams, NASCAR has been able to impose anti-competitive terms as a condition of a team’s access to competitions."

Persons: Michael Jordan, Racing, Jim France, Bill France, Bob Jenkins, 23XI, Denny Hamlin, Curtis Polk, James, “ Jim ”, Plaintiff's, Jeffrey Kessler, ”, “, it’s, ” Jordan, Jordan Organizations: NASCAR, Motorsports, Jordan, Racing, NFL, NBA, Chicago Bulls Locations: U.S, Charlotte , North Carolina, Polk, France

☆ The bull market is about to turn two. Here's what's needed for further gains ahead
▼ + stars: | 2024-10-03 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

This latest bull run has been strong, even by historical standards. The broad market index has also reached a record above 5,700 — with some on the Street expecting it to top 6,000 before year-end. The bull market will be two later this month. .SPX mountain 2022-09-30 SPX since Q4 2022 The first: "The disinflation that has defined the cyclical bull needs to remain in place," said Clissold. The second element needed for the bull run to carry on is a successful soft landing.

Persons: Ned Davis, Ed Clissold, Clissold Organizations: Ned Davis Research, Fed, JPMorgan

☆ JPMorgan just raised its price target for Tesla — but it still expects a 48% crash in the stock
▼ + stars: | 2024-10-03 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

JPMorgan sees the stock drifting even lower, by as much as 48% to its $130 price target. AdvertisementJPMorgan raised its price target for Tesla stock — but the bank still sees shares of Elon Musk's electric carmaker falling almost 50% in the coming year. Tesla stock is down 7% since it reported third-quarter vehicle deliveries on Wednesday, but JPMorgan thinks it can go much lower. In a Thursday note, the bank set its December 2025 Tesla stock price target to $130, representing potential downside of 48% from Wednesday's close. AdvertisementJonas has a $310 price target for Tesla stock, more than double Brinkman's $130 target.

Persons: Tesla, —, Ryan Brinkman, Brinkman, Dan Ives, Elon Musk, that's, Adam Jonas, Morgan Stanley, Jonas Organizations: JPMorgan, Service, Elon, Wall, Toyota Locations: Wednesday's

While dogs are a man's best friend, they do add risk to a household and present challenges when you shop for homeowners insurance if you've run into the dog breeds insurance blacklist. Here's how dog breeds can affect your homeowners insurance, including the specific types of aggressive dog breeds that might increase your premiums or limit coverage options. The Most Commonly Restricted Dog BreedsDog breeds insurance blacklist usually varies by carrier, but here are some of the most common dog breeds that homeowners insurance companies tend to restrict. Dog Breeds Banned by Homeowners Insurance FAQHow do I find out if my dog is on the dog breeds insurance blacklist? Yes, some homeowners insurance companies that don't restrict dog breeds include State Farm, Chubb, and USAA.

Persons: Deborah Turner, Turner, Doberman, Danes Chow Chows, Courtnye Jackson, Chubb, USAA —, Jackson, Jamela Adam, Read Organizations: Insurance, Dean Insurance Agency, underwriters, Bulls, Huskies Staffordshire Terriers, Pit Bulls, Rottweilers, Insurance Information Institute, Triple, American Society for, Prevention, American Property, Casualty Insurance Association, American Kennel Club, Forbes, . News, Mint Intuit Locations: New York , Nevada, Illinois

☆ Silicon Valley has a plan to save humanity: Just flip on the nuclear reactors
▼ + stars: | 2024-10-01 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

No, the tech that’s going to save humanity will be powered by the tech that very nearly destroyed it. The tech industry’s solution, for now, is nuclear energy, which is more stable than wind or solar and is virtually carbon-emission-free. Amazon is working on putting a data center campus right on the site of a Talen Energy nuclear power plant in Northeast Pennsylvania. And while AI doomer predictions often get brushed off as alarmist forecasts, you can’t as readily dismiss the folks who are concerned about nuclear energy. Bottom line: There’s no AI future without a serious uptick in our power supply, which makes the expansion of nuclear power practically unavoidable.

Persons: CNN Business ’, Sam Altman, Peter Thiel, Anna Erickson, ” Organizations: CNN Business, New York CNN, Nvidia, International Energy Agency, JPMorgan, Microsoft, Energy, Financial Times, Founders Fund, Georgia Tech, Big Locations: New York, Harrisburg , Pennsylvania, Northeast Pennsylvania, Idaho, Big Tech

☆ Where the charts indicate gold is headed next as it rallies on escalating geopolitical tensions
▼ + stars: | 2024-10-01 | by ( Todd Gordon | ) www.cnbc.com time to read: +4 min

Before we get started, it's important to point out that I believe that broader equity markets remain in a secular bull market with global central banks' easing monetary policy amid a backdrop of a boom in artificial intelligence that carries equity markets significantly higher in coming quarters. But the key in my opinion was that real interest rates were going higher. The way I'm defining 'real interest rates' is the prevailing nominal yield on a bond, the 10-year Treasury in this example, adjusted by the expected 10-year inflation level. Put simply, real interest rates are how much you actually earn on a fixed income investment after adjusting for inflation. So my outlook is that gold will continue to rally alongside equity markets.

Persons: let's, Todd Gordon, Gordon, HMY Organizations: Harmony, Equity, Treasury, Stock, Edge, Inside Edge, CNBC, NBC UNIVERSAL Locations: South

☆ Jim Cramer explains why he's bullish on Starbucks
▼ + stars: | 2024-09-30 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Monday told investors why he's optimistic about Starbucks , reviewing the bull and bear cases for the stock recently released by different analysts. "I think he's got such a great track record that he's more than earned the benefit of the doubt." The ailing coffee change announced a change of management last month, replacing CEO Laxman Narasimhan with former Chipotle CEO Brian Niccol. Starbucks saw sales decline over the past few quarters, and shares fell more than 20% during Narasimhan's time in the role, according to CNBC. Cramer compared a bearish downgrade from Jefferies and a bullish upgrade from Bernstein, as both firms posted analyses last week.

Persons: CNBC's Jim Cramer, he's, Laxman Narasimhan, Brian Niccol, Niccol, Cramer, Bernstein, Jefferies, I'm Organizations: Starbucks, CNBC, Jefferies

☆ Watch these warning signs for a potential peak in the stock market's long-term bull rally, NDR says
▼ + stars: | 2024-09-27 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The secular bull market, which began in 2009, is in a mature stage according to NDR's Tim Hayes. "With the secular bull mature, we're watching out for signs that it may be at risk," he said. AdvertisementWith the S&P 500 in its 15th year of a secular bull market that started in 2009, Ned Davis Research says investors should watch for warning signs of a potential peak. The first warning sign of a near-term peak in the stock market is worsening breadth among the underlying issues of the US stock market. And a rebound in inflation, coupled with rising interest rates, would be an unwelcome warning sign for the current bull rally in stocks.

Persons: Ned Davis, Tim Hayes, —, Hayes Organizations: Ned Davis Research, Service, NDR

☆ China's stock markets are partying like it's 2008, overwhelming systems
▼ + stars: | 2024-09-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

China's stock markets surged this week, marking the best weekly performance since late 2008. AdvertisementChina's stock markets closed sharply higher Friday, notching their best week in 16 years as investors joined the rally party. The stock market party overwhelmed tech systemsThe stock market party got too hot to handle. AdvertisementFurthermore, the US Federal Reserve has started cutting interest rates, which has historically benefited Chinese markets, they added. So even if Beijing's stimulus isn't enough for China's economy, a liquidity or leverage-driven market rally could still be "very powerful," they wrote.

Persons: —, Vishnu Varathan, Hong, Hao Hong, Pan Gongsheng, Data.TS, Freya Beamish, Rory Green Organizations: Service, Grow Investment, Shanghai Stock Exchange, of America, Bank of America, US Federal Reserve, People's Bank of China Locations: China, Beijing, Asia, Japan, Shanghai, India

☆ Wall Street braces for a turbulent October with jobs report on deck next week
▼ + stars: | 2024-09-27 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

Both the Dow Jones Industrial Average and S & P 500 have broken out to new highs this month. BTIG chief market technician Jonathan Krinsky asked this week, referring to the S & P 500. The S & P 500 had risen more than 5%, while the tech-heavy Nasdaq Composite was higher by more than 1%. For the S & P 500, those levels represent declines of about 6% to 9%, as of Thursday's close. Initial Claims (09/28) 9:45 a.m. PMI Composite final (September) 9:45 a.m. S & P PMI Services SA final (September) 10 a.m.

Persons: Jonathan Krinsky, Dow, Adam Turnquist, LPL Financial's Turnquist, Jeff Hirsch, he's bullish, Hirsch wouldn't, Lamb Weston, Nonfarm Payrolls, —, Nick Wells Organizations: Federal, Dow Jones Industrial, Dow, CNBC, Nasdaq, LPL, Chicago PMI, Dallas Fed, PMI, Manufacturing, Nike, McCormick, ADP, PMI Services SA, Services PMI, Constellation Locations: Europe, U.S, Chicago

☆ Gold's tremendous rally is making even long-term bulls a bit nervous
▼ + stars: | 2024-09-26 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

It was the sixth positive trading session in a row. In midday trading, gold futures were adding to those records Thursday. XAU= YTD mountain Gold is trading at record highs and closing in on a 30% gain for 2024. However, Bank of America ETF strategist Jared Woodard warned in the same note that gold might be "tactically overbought." That would represent a roughly 5-8% pullback," Krinsky said, referring the SPDR Gold Shares fund backed by physical gold.

Persons: Jared Woodard, Woodard, Wayne Gordon, Gordon, Jonathan Krinsky, Krinsky Organizations: Federal, Bank, America, Bank of America, UBS

Officials were searching for a runaway bull in southern Massachusets early Monday after a herd of the animals jumped a fence at a rodeo event a day earlier. “Community members should exercise extreme caution and not approach the bull if found. The animals escaped their pens, ran through the parking lot and jumped over the fence, before fleeing south towards nearby woods, according to Coleman. One bull was caught just after fleeing, and six were corralled some three miles away by local police and firefighters, along with environmental police, workers from the rodeo and staff from the New England Rodeo in nearby Norton, Coleman said. No injuries were reported but the rodeo, which was being held at a mall, was under investigation, he added.

Persons: Christopher Coleman, Coleman, Chris Mooney, ” Organizations: Attleboro Fire, New England, Attleboro, NBC Boston Locations: ”, Attleboro, Emerald, North Attleboro, Norton

☆ Four worries that should keep market bulls awake at night
▼ + stars: | 2024-09-23 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Investors are still expressing signs of concern despite the stock market hitting all-time highs, according to Deutsche Bank. The S & P and the Dow weren't alone in their milestones. Gold prices also notched a new all-time high following the supersized Fed cut, crossing the $2,600 per ounce level on Friday. Allen also highlighted that traditional valuation metrics are "elevated" considering the "relentless" nature of the market in 2024. Year to date, the S & P has gained nearly 20%, and has risen in 24 of this year's 38 weeks, according to FactSet.

Persons: Dow, Henry Allen, Allen Organizations: Deutsche Bank, Federal Reserve, Dow Jones, Nasdaq, ECB Locations: Ukraine

☆ Video shows eight bulls on the loose after escaping from rodeo
▼ + stars: | 2024-09-23 | by ( Hazel Tang | ) edition.cnn.com time to read: 1 min

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☆ A stunning sterling rally is about to collide with Britain's political realities
▼ + stars: | 2024-09-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

Sterling breached $1.33 against the greenback for the first time since March 2022 on Thursday, and was trading at $1.3315 early London time Monday. The pound's rally was tied to the BOE communication and "looks fully justified," Chris Turner, global head of markets at ING, said in a Friday note. Higher rates are traditionally a positive for a domestic currency as the higher yield can attract more foreign capital. watch nowGabriella Dickens, G7 economist at AXA Investment Managers, also cautioned on the pound's outlook in a note Thursday. If the government is more stringent on fiscal policy, we think the Bank will be forced to increase the pace of the cutting cycle to offset the hit on both households' and businesses' finances."

Persons: Keir Starmer, BOE, Chris Turner, Turner, Jane Foley, Gabriella Dickens, Dickens Organizations: Bank of England, Labour, Sterling, greenback, London, ING, Fed, U.K, European Union, Rabobank London, CNBC, AXA Investment, Bank, quicken Locations: Britain, –

A Texas couple was sentenced to more than a decade in prison each Friday after their pit bulls got loose and killed an 81-year-old man last year, the Bexar County District Attorney’s Office said. Christian Moreno was sentenced to 18 years in prison and Abilene Schnieder was sentenced to 15 years in prison for the Feb. 24, 2023, mauling near their San Antonio home. Juanita Najera told the court Friday that she has post-traumatic stress disorder, courtroom video broadcast by NBC affiliate WOAI of San Antonio shows. Firefighters defend themselves from a dog that was involved in a deadly dog attack in San Antonio, last year. A dog that was involved in a deadly dog attack in San Antonio, last year.

Persons: Christian Moreno, Abilene Schnieder, Ramon Najera, Juanita Najera, Najera, Velia J, Meza, Moreno, Schnieder, “, ”, Joe Gonzales, Mr Organizations: Attorney’s, San Antonio, Firefighters, Animal Care Services, NBC Locations: Texas, Bexar County, Abilene, mauling, San, San Antonio, Schnieder

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