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☆ Wall Street kicks off historically strong month after wild October
▼ + stars: | 2024-11-01 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The S & P 500 fell 1% in October, snapping a five-month advance. Now, Wall Street is coming into what has historically proven a strong month for stocks — which could push stocks to new heights. A CNBC analysis of FactSet data showed November has been the second-strongest month for the S & P 500 going back 10 years. Going back 20 years, the S & P 500 averages a 2.2% increase in November. Elsewhere on Wall Street this morning, analysts reacted to the latest quarterly earnings reports from megacaps Apple and Amazon .

Persons: Kamala Harris, Donald Trump, Goldman Sachs, Michael Ng, Doug Anmuth, Anmuth Organizations: Dow Jones Industrial, Nasdaq, Federal Reserve, CNBC, U.S, NBC, Apple Locations: U.S

☆ Behind Friday's rally: Traders betting Fed keeps cutting rates next week
▼ + stars: | 2024-11-01 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

The monthly jobs report is typically closely-watched watched by traders and creates a reaction in the market. To be sure, storms in the Southeast and the Boeing labor strike were cited as downward pressures on the labor market. To Elizundia's point, fed funds futures are now pricing in 99.9% odds the central bank cuts rates by 25 basis points next week, and an 83.6% chance it lowers borrowing costs by another quarter-point percentage in December. There was no Fed meeting in October. "And yet, a deeper ponder of the numbers suggests that, beneath all the noise and disruption, is a fundamentally slowing labor market.

Persons: —, Dow jones, Elizundia, Seema Shah, Shah, Stocks Organizations: Dow, Boeing, Fed, Federal Reserve, Asset Management, U.S Locations: U.S

☆ Businesses in Asia are waiting to see what U.S. election results would mean for trade: Analyst
▼ + stars: | 2024-11-01 | 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 EmailBusinesses in Asia are waiting to see what U.S. election results would mean for trade: AnalystJoel Lange from Dow Jones Risk & Research discusses potential impact of U.S. election result on Asia.

Persons: Joel Lange Organizations: Dow Jones Risk, Research Locations: Asia

☆ U.S. economy added just 12,000 jobs in October, impacted by hurricanes, Boeing strike
▼ + stars: | 2024-11-01 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Nonfarm payrolls increased by 12,000 for the month, down sharply from September and below the Dow Jones estimate for 100,000, the Bureau of Labor Statistics reported Friday. In what had already been expected to be a downbeat report, October posted the smallest gain since December 2020. A broader measure of unemployment that includes discouraged workers and those holding part-time jobs for economic reasons also was unchanged at 7.7%. In the report narrative, the BLS noted that the Boeing strike likely subtracted 44,000 jobs in the manufacturing sector, which lost 46,000 positions overall. The meager jobs numbers along with wages about in line with expectations help cement another interest rate cut from the Federal Reserve next week.

Persons: Nonfarm, Dow Jones, Helene, Milton, Cory Stahle, Kamala Harris, Republican Donald Trump, Lisa Sturtevant Organizations: of Labor Statistics, BLS, Boeing, Federal Reserve, Republican, Bright MLS Locations: U.S

☆ In an all-hands, Intel CEO addresses employee concerns about the US election and CHIPS Act funding
▼ + stars: | 2024-11-01 | by ( Helen Li | ) www.businessinsider.com time to read: +4 min

An Intel employee raised concerns about the upcoming US election's impact on CHIPS Act funding. Intel invested billions in US factories but hasn't received CHIPS Act grants yet. AdvertisementIntel CEO Pat Gelsinger addressed an employee-submitted question about whether the upcoming US election would affect Intel's CHIPS and Science Act funding at an all-hands meeting on Friday. He also addressed the delay of CHIPS Act funding distribution. Government leaders are also monitoring the CHIPS Act funding delays.

Persons: hasn't, Dow Jones, —, Pat Gelsinger, Gelsinger, I've, Semafor, Mike DeWine, Stephen Ezell, Kamala Harris, Donald Trump, Dow, maniacally Organizations: Intel, Nvidia, Dow, Service, US Commerce Department, Bank, Bloomberg, Congress, Government, White, Information Technology, Innovation Foundation, Life Sciences, Dow Jones Locations: New Mexico , Arizona , Ohio, Oregon, Washington ,, Ohio, New Albany

☆ Treasury yields rise as investors look to key jobs data
▼ + stars: | 2024-11-01 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by over one basis point to 4.2947%. The 2-year Treasury yield was last trading at 4.1806% after rising by more than one basis point. U.S. Treasury yields were higher on Friday as investors awaited the all-important October jobs report and digested key economic data released throughout the week. Investors weighed a series of key economic reports published throughout the week, including Thursday's personal consumption expenditures price index, the Federal Reserve's favored inflation gauge. It is also some of the last key economic data before the U.S. election next week.

Persons: Dow Jones, nonfarm payrolls, payrolls Organizations: Treasury, Federal, PCE, Fed, Bureau of Labor Statistics

☆ Intel’s getting kicked out of the Dow
▼ + stars: | 2024-11-01 | by ( ) edition.cnn.com time to read: +1 min

Intel’s shares (INTC) have declined 54% this year, making it the worst performer on the index and leaving it with the lowest stock price on the price-weighted Dow. The stock fell about 1% in extended trading on Friday, while Nvidia (NVDA) was up 1.5%. Launched in 1968, the Silicon Valley pioneer sold memory chips before switching to processors that helped launch the personal computer industry. In the 1990s, “Intel Inside” stickers turned commodity electronic components into premium products and eventually became ubiquitous on laptops. The company’s 10-for-one stock split in June also helped pave the way for its addition to the index, making its soaring shares more accessible to retail traders.

Persons: Dow, TSMC, OpenAI Organizations: CNN, Intel, Dow Jones, Nvidia Locations: chipmaking, ChatGPT

☆ Nvidia to edge out Intel in Dow Jones Industrial Average
▼ + stars: | 2024-11-01 | by ( Lloyd Lee | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

Nvidia is replacing Intel in the Dow Jones Industrial Average, S&P Dow Jones Indices said Friday. AdvertisementNvidia is joining the Dow Jones Industrial Average, the S&P Dow Jones Indices said on Friday, replacing its rival Intel, which held the position for 25 years. AdvertisementThe Dow Jones Industrial Average, or DJIA, is made up of 30 blue-chip companies, from Amazon to Walt Disney Co., and is often used as a benchmark for the broader US economy. Since 1999, Intel has held its position on the DJIA to reflect the state of the larger semiconductor industry. AdvertisementNow, with its entrance into the DJIA, it only underlines the mainstream acceptance of Nvidia as a market leader.

Persons: Dow, —, missteps, Pat Gelsinger, Jensen Huang, Jensen, Dan Ives Organizations: Nvidia, Intel, Dow Jones, Service, Walt Disney Co, Amazon Web Services, Corporate Finance Institute Locations: Amazon, Silicon Valley, Susquehanna

☆ Super Micro's 44% plunge this week wipes out stock's gains for the year
▼ + stars: | 2024-11-01 | by ( Ari Levy | ) www.cnbc.com time to read: +4 min

Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. The company's recent challenges date back to August, when Super Micro said it would not file its annual report on time with the SEC. Super Micro disclosed on Wednesday that Ernst & Young had resigned as its accounting firm just 17 months after taking over from Deloitte & Touche. That's up from $2.1 billion a year earlier and $1.9 billion in the same fiscal quarter of 2023. WATCH: I don't know if Super Micro is guilty or innocent, says Jim Cramer

Persons: Charles Liang, Dow Jones, Ernst, Young, Ernst & Young, Jim Cramer Organizations: Super, Computer Inc, Super Micro, Nasdaq, U.S, SEC, Hindenburg Research, Street, Department of Justice, Deloitte, Touche, CNBC, Ernst, Argus Research, Justice Department, Micro Locations: Taipei, Taiwan

☆ Nvidia to join Dow Jones Industrial Average, replacing rival chipmaker Intel
▼ + stars: | 2024-11-01 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Nvidia is replacing rival chipmaker Intel in the Dow Jones Industrial Average, a shakeup to the blue-chip index that reflects the boom in artificial intelligence and a major shift in the semiconductor industry. Intel shares were down 1% in extended trading on Friday. Nvidia shares rose 1%. Nvidia's market cap has swelled to $3.3 trillion, second only to Apple among publicly traded companies. Intel shares have fallen by more than half this year as the company struggles with manufacturing challenges and new competition for its central processors.

Persons: Jensen Huang, Sherwin Williams, Dow Jones, Dow Organizations: Nvidia, EIFO, NVIDIA, Vilhelm, Intel, Dow Jones, Dow Inc, Apple, Companies, Microsoft, Meta, Google, Dow, Amazon, Walgreens Boots Alliance, AMD Locations: Kastrup, Denmark

☆ Key inflation rate hits 2.1% in September, as expected, closing in on Fed target
▼ + stars: | 2024-10-31 | by ( Jeff Cox | Jeff Cox Is A Finance Editor With Cnbc.Com Where He Covers All Aspects Of The Markets | Monitors Coverage Of The Financial Markets | ) www.nbcnews.com time to read: +3 min

Inflation increased slightly in September and moved closer to the Federal Reserve’s target, according to a Commerce Department report Thursday. The personal consumption expenditures price index showed a seasonally adjusted 0.2% increase for the month, with the 12-month inflation rate at 2.1%, both in line with Dow Jones estimates. Fed officials target inflation at a 2% annual rate, a level it has not achieved since February 2021. The annual rate was 0.1 percentage point higher than forecast but the same as in August. Consumer spending rose 0.5%, topping the outlook by 0.1 percentage point.

Persons: Dow Jones Organizations: Commerce Department, Fed, Energy, Labor Department, of Labor Statistics

☆ Super Micro's $50 billion stock collapse underscores risk of AI hype
▼ + stars: | 2024-10-31 | by ( Ari Levy | ) www.cnbc.com time to read: +7 min

Super Micro is one of the primary vendors for building out Nvidia-based clusters of servers for training and deploying AI models. Super Micro is now at risk of being delisted from the Nasdaq, and has until Nov. 16 to regain compliance with the stock exchange. Ernst & Young was new to the job, having just replaced Deloitte & Touche as Super Micro's accounting firm in March 2023. Since the S&P's announced index changes in March, Super Micro's stock has dropped at least 10% on six separate occasions. — CNBC's Rohan Goswami and Kif Leswing contributed to this report WATCH: Super Micro stock is a 'very risky buy'

Persons: Ernst & Young, Deloitte didn't, hasn't, P's, Dow Jones, Kevin Barry, Barry, —, Rohan Goswami, Kif Leswing Organizations: Computer Inc, Bloomberg, Getty, Micro, Nvidia, Ernst, Nasdaq, Mizuho, Deloitte, Touche, CNBC, Ernst & Young, Dell, SEC, Super, Hindenburg Research, Super Micro, U.S, U.S . Super, Whirlpool, P Global Locations: San Jose , California, U.S, That's, U.S .

☆ Palo Alto shares helped by contract news, Abbott Labs braces for lawsuit ruling
▼ + stars: | 2024-10-31 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

An executive at Palo Alto Networks also posted about it on LinkedIn , without mentioning the dollar amount and duration. These headlines could be helping support shares of Palo Alto in Thursday's down market. Palo Alto did not respond to CNBC's request for comment on the licensing agreement. 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, nonfarm, Morgan Stanley, Palo, Nikesh Arora, —, Missouri —, we're, Jeff Marks, Abbott, we'll, payrolls, Jim Cramer's, Jim Organizations: CNBC, ., Nasdaq, Dow Jones Industrial, Microsoft, Meta, Boeing, Reserve, Palo Alto Networks, Department of Defense, Palo, Abbott Labs, NEC, Judicial, Apple, Coterra Energy, Intel, . Steel, Juniper Networks, Chevron, Exxon Mobil, LyondellBasell, Jim Cramer's Charitable Locations: U.S, Palo Alto, Thursday's, Missouri

☆ Key Fed inflation rate hits 2.1% in September, as expected
▼ + stars: | 2024-10-31 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Inflation increased slightly in September and moved closer to the Federal Reserve's target, according to a Commerce Department report Thursday. The personal consumption expenditures price index showed a seasonally adjusted 0.2% increase for the month, with the 12-month inflation rate at 2.1%, both in line with Dow Jones estimates. Fed officials target inflation at a 2% annual rate, a level it has not achieved since February 2021. The annual rate was 0.1 percentage point higher than forecast but the same as in August. In September, the Fed slashed the rate by a half percentage point, a move virtually unprecedented during an economic expansion.

Persons: Dow Jones Organizations: Commerce Department, Fed, Energy, Labor Department, of Labor Statistics

☆ Friday's jobs report is expected to show the slowest pace of hiring in years
▼ + stars: | 2024-10-31 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Goldman Sachs estimates that Helene could shave as much as 50,000 off the payrolls count, though Hurricane Milton probably happened too late to impact the October count. The Boeing strike, meanwhile, could lower the total by 41,000, added Goldman, which is forecasting total payrolls growth of 95,000. Data has been solidYet indicators leading up to the much-watched jobs report show that hiring has continued apace and layoffs are low, despite the damage done from the storms and the strikes. Still, the White House is estimating that the events cumulatively may hit the payrolls count by as many as 100,000. The "disruptions will make interpreting this month's jobs report harder than usual," Jared Bernstein, chair of the Council of Economic Advisers, said Wednesday.

Persons: Angus Mordant, Dow Jones, Milton, Michael Arone, Arone, Goldman Sachs, Helene, Hurricane Milton, Goldman, Jared Bernstein Organizations: Bloomberg, Getty, of Labor Statistics, Hurricanes, Boeing, State Street Global Advisors, of Economic Advisers Locations: Catskill , New York, U.S, Hurricane

☆ How the stock market will react to Friday's jobs report, according to JPMorgan
▼ + stars: | 2024-10-31 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

JPMorgan's trading desk has some ideas on how much the stock market might move following Friday's all-important job report. Between 120,000 and 200,000 jobs added; 30% chance: This is the so-called Goldilocks print. The S & P 500 should finish the day somewhere between flat and up 0.5%. Below 20,000 jobs added; 5% chance: This should catalyze a large sell-off as a negative nonfarm payrolls print typically front runs a recession. The S & P 500 should pull back somewhere within the range of 0.75% and 1.5%.

Persons: payrolls, Dow Jones Organizations: Federal Reserve, JPMorgan, Equity

☆ Nasdaq 100 futures rise as investors parse latest tech earnings, await jobs data: Live updates
▼ + stars: | 2024-10-31 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Nasdaq 100 futures advanced Thursday night as traders analyzed major earnings reports in the runup to the all-important jobs report. Dow Jones Industrial Average futures rose 15 points, or 0.1%, while S&P 500 futures also gained 0.1%. Those moves come after a downbeat session on Thursday, which saw the S&P 500 and Nasdaq Composite dragged down by post-earnings slumps in Microsoft and Meta Platforms . The Dow led the major indexes down with a slide of 1.3%, while the S&P 500 and Nasdaq shed 1% and 0.5%, respectively. On the earnings front, traders will monitor Friday reports from Chevron and Exxon Mobil .

Persons: Dow, Jay Hatfield, Dow Jones, nonfarm Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, Amazon, Intel, Microsoft, Meta, Infrastructure Capital Management, Chevron, Exxon Mobil

☆ U.S. Treasury yields edge higher as traders await key inflation data
▼ + stars: | 2024-10-31 | by ( April Roach | ) www.cnbc.com time to read: +1 min

One basis point is equivalent to 0.01%. The 10-year Treasury yield was less than one basis point higher at 4.27%. The 2-year Treasury note yield added one basis point to 4.16%. U.S. Treasury bond yields rose as traders reviewed the gross domestic product reading for the third quarter and looked ahead to key inflation data out later in the session. A report on weekly jobless claims and the third-quarter reading on the employment cost index are also scheduled for release on Thursday.

Persons: Dow Jones Organizations: U.S, Treasury, Federal, Traders, Fed Locations: U.S

☆ Private job creation totaled a stunning 233,000 in October, far more than expected, ADP says
▼ + stars: | 2024-10-30 | by ( Jeff Cox | Jeff Cox Is A Finance Editor With Cnbc.Com Where He Covers All Aspects Of The Markets | Monitors Coverage Of The Financial Markets | ) www.nbcnews.com time to read: +2 min

ADP said it was the best month for job creation since July 2023. “Even amid hurricane recovery, job growth was strong in October,” ADP chief economist Nela Richardson said. Job creation was strongly concentrated in companies with 500 or more employees, which added 140,000 of the total. The ADP report traditionally tees up the more closely watched nonfarm payrolls count from the Bureau of Labor Services. The BLS report showed private job gains of 223,000 in September and 254,000 total payrolls growth.

Persons: Dow Jones, Nela Richardson, Helene, Milton — Organizations: North Carolina, Boeing, Federal Reserve, Manufacturing, Bureau of Labor Services, ADP, BLS Locations: U.S, Florida, North

☆ The U.S. economy grew at a 2.8% pace in the third quarter, less than expected
▼ + stars: | 2024-10-30 | by ( Jeff Cox | Jeff Cox Is A Finance Editor With Cnbc.Com Where He Covers All Aspects Of The Markets | Monitors Coverage Of The Financial Markets | ) www.nbcnews.com time to read: +2 min

The U.S. economy posted another solid though slightly disappointing period of growth in the third quarter, propelled higher by strong consumer spending that has defied expectations for a slowdown. The economy accelerated at a 3% pace in the second quarter. Personal consumption expenditures, the proxy for consumer activity, increased 3.7% for the quarter, the strongest performance since Q1 of 2023. The release comes with the Federal Reserve poised to lower inflation rates further despite the seemingly strong economy and inflation that remains above target, though far from its peak in mid-2022. Markets widely expect the Fed to cut another quarter percentage point off its benchmark short-term borrowing rate when policymakers conclude their two-day meeting on Nov. 7.

Persons: Dow Jones Organizations: Gross, Commerce Department, Federal Reserve Locations: U.S

☆ U.S. economy grew at a 2.8% pace in the third quarter, less than expected
▼ + stars: | 2024-10-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

The economy accelerated at a 3% pace in the second quarter. The U.S. economy posted another solid though slightly disappointing period of growth in the third quarter, propelled higher by strong consumer spending that has defied expectations for a slowdown. Personal consumption expenditures, the proxy for consumer activity, increased 3.7% for the quarter, the strongest performance since Q1 of 2023. "You've got the perfect combination of strong growth and slowing inflation. The personal savings rate decelerated in the third quarter to 4.8%, down from a 5.2% level that had been revised up sharply.

Persons: Dow Jones, You've, Dan North, Kamala Harris, Republican Donald Trump, Harris, — Trump Organizations: Gross, Commerce Department, Treasury, Allianz Trade North America, Federal Reserve, Fed, Republican Locations: U.S

☆ Inflation report Thursday expected to show the Fed is getting closer to its goal
▼ + stars: | 2024-10-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

While the cumulative effect of inflation has had a pronounced influence on the U.S. economy, the view in relative terms is getting progressively better. Judging by the personal consumption expenditures price index, inflation was expected to run at just a 0.2% rate in September and 2.1% from a year ago, according to Dow Jones estimates. "Another strong quarter of GDP growth and close-to-target quarterly inflation reading will be welcomed by the Fed stuck between balancing the risks of inflation and the labor market," Citigroup economist Alice Zheng said in a note Wednesday. Within the GDP report, the PCE rate for the quarter was just 1.5%, suggesting that the battle has been won. While the market is still betting heavily on more rate cuts this year, the Fed likely will be cautious.

Persons: Dow Jones, Alice Zheng, Shruti Mishra Organizations: Commerce Department, Labor, Citigroup, Bank of America Locations: U.S

☆ S&P 500 futures slip after Microsoft reports; traders brace for key inflation data: Live updates
▼ + stars: | 2024-10-30 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Stock futures slid on Wednesday evening, as Wall Street absorbed a fresh batch of earnings reports from megacap technology names. S&P 500 futures lost 0.3%, and Nasdaq 100 futures fell 0.5%. Futures tied to the Dow Jones Industrial Average declined 27 points. The S&P 500 declined 0.3%, while the Dow dropped 0.2%, and the Nasdaq Composite fell nearly 0.6%. Economists polled by Dow Jones expect that the PCE grew by 0.2% on a monthly basis and 2.1% from a year earlier.

Persons: Dow Jones, Jamie Cox Organizations: New York Stock Exchange, Stock, Nasdaq, Dow Jones, Dow, Investors, Federal, Harris Financial, Tech, Apple, Merck, Intel

☆ Nasdaq jumps to record close as major tech names rise ahead of earnings
▼ + stars: | 2024-10-29 | by ( Hakyung Kim | Alex Harring | ) www.nbcnews.com time to read: +1 min

The Nasdaq Composite rose to a fresh record on Tuesday as investors readied for key corporate earnings releases, including reports from notable tech names. The tech-heavy Nasdaq advanced 0.78% to a record close of 18,712.75. Ahead of their earnings releases, shares of Meta jumped 2.6%, and Alphabet advanced 1.8% on Tuesday. This will mark the busiest week of the earnings season with more than 150 S&P 500 companies scheduled to have reported by Friday’s close. Notably, the blue-chip Dow broke a five-day losing streak, while the tech-heavy Nasdaq notched its eighth positive session of the last nine.

Persons: “ It’s, Sam Stovall, Friday’s, Jonathan Krinsky, ”, Dow Organizations: Nasdaq, Dow Jones, Microsoft, Apple, Meta, Research, Traders, Treasury, U.S

☆ GDP report Wednesday expected to show more growth, less inflation
▼ + stars: | 2024-10-29 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

The Commerce Department is expected to report Wednesday that gross domestic product grew at a hardy 3.1% annualized pace in the third quarter, adjusted for seasonality and inflation, according to the Dow Jones consensus forecast. Along with that, the release is expected to show that inflation moved closer or perhaps even below the Federal Reserve's 2% target. The Fed uses the personal consumption expenditures price index, included in the GDP estimate, as its primary inflation gauge. The report, then, should indicate a solid economy and easing inflation , the latter at least on a relative basis from how things looked a year ago. "Overall, another quarter of above-trend growth and a benign inflation reading will be welcomed by the Fed."

Persons: Dow, Oliver Allen, Allen, nudging, Alice Zheng Organizations: Commerce Department, Fed, Pantheon, stoke, Citigroup, Citi Locations: U.S

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