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☆ Earnings season kicks off after a blowout jobs report upended investors' hopes of another interest-rate cut
▼ + stars: | 2024-10-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Tech: Amazon's Prime Day kicks off tomorrow, and there are some deals on surprising items . Amazon's Prime Day kicks off tomorrow, and there are some deals on . Getty Images; Jenny Chang-RodriguezWe've already got one indication companies are in good shape: Friday's blockbuster jobs report . But another blowout report — 250,000 jobs added and at least 4% wage growth — could lead the Fed to reconsider its easing policy. In addition to the usual Prime Day gadgets, like TVs and Airpods, Amazon is dishing out deals on tents, pocket knives, and chainsaws.

Persons: —, Jenny Chang, Rodriguez, Matthew Fox, we'll, Rodriguez We've, there's, Philipp Carlsson, Chelsea Jia Feng, haven't, Donald Trump's, Tyler Le, John Tomac, that's, boomers, They're, Gen Xers, Gen Zers, Kamala Harris, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Grace Lett, Amanda Yen, Milan Sehmbi Organizations: Business, Service, . Tech, Amazon's, Pfizer, Wall Street, JPMorgan, Wells Fargo, Big Tech, Getty, Fed, Boston Consulting, Trump Media, Microsoft, BI, pharma, CBS, ASEAN Locations: Israel, fintech, Vientiane, Laos, New York, London, Chicago

☆ Stock market today: Indexes drop and yields, oil prices spike ahead of earnings and fresh economic data
▼ + stars: | 2024-10-07 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

US stocks fell Monday as bond yields and oil prices moved higher. The rise in oil prices and solid September jobs report has revived inflation concerns. Friday's release of the September jobs report sparked the move higher in yields. AdvertisementMeanwhile, oil prices continued to surge on Monday, rising by about 4% as tensions in the Middle East continued to simmer on the first anniversary of the Hamas-led attack against Israel. The rise in oil prices and the stronger jobs report are fanning fears of a potential rebound in inflation, which would mean fewer rate cuts from the Federal Reserve.

Persons: — Organizations: PepsiCo, Service, Treasury, Israel, Federal Reserve, Amazon, Epic, Bank of America, Here's Locations: Hurricane Milton, Wells

☆ Chip stocks surge after Super Micro Computer says it's shipping 100,000 GPUs a quarter
▼ + stars: | 2024-10-07 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Shares jumped after an update from Super Micro said the company is shipping 100,000 GPS a quarter. AdvertisementNvidia bucked the broader market decline on Monday and surged after Super Micro Computer said it is shipping more than 100,000 GPUs per quarter. In a presss release touting its new liquid-cooling solutions for heat-intensive AI data centers, Super Micro Computer said it's "currently shipping over 100,000 GPUs per quarter." AdvertisementAccording to data from Bloomberg, Super Micro Computer is Nvidia's third largest customer, representing about 9% of its total revenue. AdvertisementNvidia is currently shipping its next-generation Blackwell GPUs, which Super Micro Computer alluded to in a description of its new liquid-cooling product.

Persons: —, Jensen Huang, Blackwell, Huang Organizations: Nvidia, Micro Computer, Super Micro, Service, Computer, Micro, Bloomberg, CNBC, Blackwell Locations: YCharts

☆ A Tesla trader turned $65,000 into $306 million before losing it all, according to a lawsuit
▼ + stars: | 2024-10-07 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

A Canadian trader turned $65,000 into $306 million by betting on Tesla during the pandemic. The trader is suing RBC and Grant Thornton, claiming he received "inadequate advice" that led to huge losses. AdvertisementA trader from Vancouver Island, Canada, minted a fortune betting on Tesla stock before losing everything, according to a lawsuit filed against RBC and tax advisory firm Grant Thornton LLP last week. But when Tesla stock plunged in 2022, DeVocht was forced to sell Tesla stock at depressed prices to pay back those margin loans. RBC and Grant Thornton LLP told media outlets that they do not comment on active lawsuits before the courts.

Persons: Grant Thornton, —, Christopher DeVocht, DeVocht, Tesla Organizations: Tesla, RBC, Service, Royal Bank of Locations: Vancouver Island, Canada

☆ Goldman Sachs bumps its S&P 500 price target for the 3rd time this year as it sees higher corporate profits ahead
▼ + stars: | 2024-10-07 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Goldman Sachs raised its S&P 500 year-end price target to 6,000, implying a 5% gain. AdvertisementStrategists at Goldman Sachs raised their S&P 500 year-end price target for the third time this year. The price target increase comes after Kostin and his team set an initial year-end S&P 500 price target of 4,700 late last year. AdvertisementKostin also raised the bank's 12-month S&P 500 price target to 6,300 from 6,000. Kostin's price target forecasts assume the S&P 500 continues to trade at a premium valuation of about 22x forward earnings.

Persons: Goldman Sachs, Goldman, —, Goldman's David Kostin, Kostin, Myers Squibb Organizations: Service, Myers, Warner Bros ., Communacopia Locations: Bristol, Gilead

☆ Stock market today: Indexes slip as bond yields jump after strong jobs data
▼ + stars: | 2024-10-07 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks fell Monday as investors assessed interest rate moves after Friday's strong jobs report. The 10-year Treasury yield rose above 4% for the first time since late July. Investors will focus on earnings season and the upcoming September CPI report this week. AdvertisementUS stocks dipped to start the week as investors assessed the outlook for interest rates following the strong September jobs report. The September CPI report is also on the economic calendar this week, set to be released on Thursday.

Persons: — Organizations: Treasury, Service, Dow Jones, Federal Reserve, Investors, PepsiCo, Here's

☆ The 3 biggest themes investors are watching for as earnings season kicks off
▼ + stars: | 2024-10-06 | by ( Matthew Fox | ) www.businessinsider.com time to read: +6 min

Investors expect S&P 500 earnings growth of 4.6% as the stock market trades near record highs. Key themes to watch for include AI adoption, consumer health, and the impact of lower interest rates. AdvertisementEarnings season is fast approaching, and investors have a lot to be on the lookout for as companies report third-quarter results. AdvertisementIn addition to the actual earnings figures, investors will be monitoring key themes as company executives offer guidance during earnings calls. Hainlin said he is encouraged by continued growth in consumer spending as credit card defaults "are within normal levels" and the holiday shopping season is right around the corner.

Persons: Wells, —, Michael Dickson, Tom Hainlin, they're, John Belton, There's, Dickson, delinquencies, Hainlin Organizations: PepsiCo, JPMorgan, Service, Wells, Investments, Business, Wall Street, Bank Wealth Management, Aerospace, Defense, Consumer, Federal Reserve Locations: Wells Fargo, FactSet

☆ Stock market today: Dow notches record high after strong jobs report eases slowdown worries
▼ + stars: | 2024-10-04 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

US stocks rose 1% and the Dow hit a record as the jobs report alleviated slowdown worries. AdvertisementUS stocks surged about 1% on Friday after the September jobs report soothed fears of an economic slowdown. According to the CME FedWatch Tool, odds of a 50-basis point cut dropped to 0% from 53% last week. Consensus now expects two 25-basis point rate cuts from the Fed at their next two FOMC meetings before year-end. ING's chief economist, James Knightley, said the jobs report was "unambiguously strong."

Persons: —, Dow, Sonu Varghese, Jeffrey Roach, James Knightley, Knightley Organizations: Dow, Service, Federal, Fed, Financial Locations: Here's

☆ There's a simple reason one of Wall Street's most bullish strategists expects a 40% rise in the S&P 500 by 2030
▼ + stars: | 2024-10-04 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Ed Yardeni predicts the S&P 500 could reach 8,000 by 2030. AdvertisementThere's a simple reason one of the most bullish Wall Street strategists expects the stock market to continue rising in the years ahead: compound interest. At a compounded annual growth rate of between 6% and 7%, the S&P 500 is on track to hit 8,000 by 2030, representing potential upside of about 40% from current levels. "The S&P 500 stock price index is driven by its earnings per share (EPS), which has been growing mostly between 6% and 7% since the 1950s," Yardeni said. He added: "EPS could double to $400 by the end of the decade in our Roaring 2020s scenario," Yardeni said.

Persons: Ed Yardeni, —, it's, Yardeni Organizations: Service, Yardeni, Federal Reserve

☆ Stock market today: US stocks jump after blowout September jobs report
▼ + stars: | 2024-10-04 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks surged after the September jobs report exceeded expectations with 254,000 jobs added. Wage growth saw a resurgence, with average hourly earnings rising 0.4% month-over-month. AdvertisementUS stocks surged on Friday after the September jobs report blew past economist estimates. The chances of a 50 basis point cut plunged to 10% after the jobs report was released, compared to 53% last week, according to the CME FedWatch Tool. Another strong aspect of the jobs report was wage gains, according to Capital Economics.

Persons: —, James Knightley, Knightley, Paul Ashworth Organizations: Service, ING, Federal Reserve, Capital Economics

☆ Costco is selling platinum bars as it expands its precious-metals business after huge success selling gold
▼ + stars: | 2024-10-03 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Costco is selling 1-ounce platinum bars online for $1,090. The move comes about a year after the retail giant started selling gold bars and silver coins. AdvertisementCostco is diversifying its precious-metals business by selling 1-ounce bars of platinum for $1,090. "I have purchased gold coin and bars, this is 1st I spotted the platinum bar on here. Advertisement"I've gotten a couple of calls that people have seen online that we've been selling gold — 1-ounce gold bars," Costco CFO Richard Galanti said in an earnings call last year.

Persons: —, Lady Fortuna, Richard Galanti, Edward Kelly Organizations: Costco, Service, Business Locations: Wells Fargo

☆ 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

☆ Nvidia stock jumps after CEO Jensen Huang says 'demand for Blackwell is insane'
▼ + stars: | 2024-10-03 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Nvidia stock rose as much as 5% on Thursday after CEO Jensen Huang noted strong demand for its Blackwell GPU. AdvertisementNvidia stock jumped as much as 5% on Thursday following comments from CEO Jensen Huang about the strong demand the company is experiencing for its next-generation Blackwell GPU chips. "Demand for Blackwell is insane," Huang said in an interview with CNBC on Wednesday after the market close. Advertisement"Blackwell is in full production, Blackwell is as planned," Huang said. Huang emphasized in the interview that Nvidia has its fingerprints all over various layers of the computing stack, from GPU chips to software to networking components.

Persons: Jensen Huang, Huang, Blackwell, —, Larry Ellison, Ellison, Elon Musk, Hopper, we're Organizations: Blackwell, Nvidia, Service, CNBC, Oracle

☆ 2 big reasons gold prices are set to surge 9% by early next year, according to Goldman Sachs
▼ + stars: | 2024-10-02 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Goldman Sachs predicts gold prices will hit $2,900 per troy ounce by early 2025. AdvertisementThe price of gold is set to extend its record-setting rally to new highs by early 2025, according to a note from Goldman Sachs. Goldman boosted its gold price target to $2,900 per troy ounce from $2,700, representing upside of about 9% from current levels. AdvertisementSuch gains would come after gold prices have already rallied 29% year-to-date. Goldman highlighted that the central banks of emerging market countries like China are behind the structural advance of gold prices since 2022.

Persons: Goldman Sachs, Goldman, —, Lina Thomas, Thomas Organizations: Service, London OTC Locations: China, London, Israel, Iran, East

☆ 'A lot of money is going to get wasted': MIT economist sounds the alarm on AI hype
▼ + stars: | 2024-10-02 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

MIT economist warns AI infrastructure investments may not meet investor profit expectations. Only 5% of jobs are likely to be significantly impacted by AI in the next decade, according to the economist. That's according to MIT Economist Daron Acemoglu, who told Bloomberg in an interview that the hype surrounding AI may not meet its lofty expectations. The most optimistic scenario, according to Acemoglue, is that AI hype cools and some applications of the technology take hold. In such a scenario, investors and tech executives would become disenchanted with AI, leading to a "AI spring followed by AI winter."

Persons: MIT's Daron Acemoglu, —, Daron Acemoglu, Acemoglu, Acemoglue Organizations: Bloomberg, Service, MIT, Microsoft, Technology

☆ The strategy a $69 billion hedge fund uses to make sure it never loses money in the stock market
▼ + stars: | 2024-10-02 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The $69 billion hedge fund uses a strict trading strategy to make sure it consistently makes money. This trading strategy has helped founder Israel Englander become a billionaire. AdvertisementThe $69 billion Millennium Management hedge fund employs a simple yet effective trading strategy to make sure it almost always makes money in the stock market: cut losing stock positions as quickly as possible. This strict stop-loss trading strategy means the hedge fund goes through a lot of employees, sporting a high turnover rate of about 15%-20% of its staff each year. But the trading strategy is also what turned its founder, Israel Englander, into a billionaire.

Persons: Israel Englander, —, Englander Organizations: Management, Service, Millennium, Bloomberg, Wall Street Journal, Millennium Management

☆ Forget Nvidia: The best-performing S&P 500 stock this year is a utility you've probably never heard of
▼ + stars: | 2024-10-01 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Vistra Corp. leads the S&P 500 with a 216% gain in 2024, driven by clean energy demand. Vistra acquired four nuclear power plants earlier this year to help boost its clean energy profile. To meet that demand, Vistra has been focusing on generating clean energy via nuclear power plants. Vistra's gains far outpace the second-best performing S&P 500 stock this year, Nvidia, which is up 138%. AdvertisementCoincidentally, the third best-performing stock in the S&P 500 so far this year is Constellation Energy, which has surged 126% year-to-date.

Persons: Vistra, Morningstar, —, it's, Travis Miller, Miller Organizations: Vistra, Service, Nvidia, Vistra Corp, Energy Harbor Corp, Constellation Energy, Microsoft Locations: California, Maine

☆ The biggest stock market winners and losers of the US port strike
▼ + stars: | 2024-10-01 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

Port workers are demanding a 61.5% raise and oppose the adoption of automation in new contract negotiations. According to Stifel analyst Bruce Chan, the ramifications of the port strike won't be sizable unless the strike is drawn out for more than two weeks. Robinson Worldwide and Expeditors International of Washington have seen gains of 4% and 5% in the past week, respectively, as investors anticipate increased business due to the port strike. Biggest losersThe biggest losers, so far, appear to be shipping container companies that are directly exposed to the port strike. That means railroads and trucking companies with significant exposure to the east coast could take a hit.

Persons: —, Bruce Chan, Chan, It's, Robinson, Biden, Hartley Organizations: Air, UPS, FedEx, Service, Workers, International Longshoremen's Association, Yahoo Finance, ILA, Expeditors International of Washington, ZIM Integrated Shipping Services, Lease, Taft, CSX, NSC, Walmart, Costco, Target Locations: Gulf, East, West, Canada, Taft, Coast

☆ There's a Moo Deng crypto token that has a market value of $200 million
▼ + stars: | 2024-10-01 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

A Moo Deng crypto token on the Solana network has soared 463%, and is now valued at $201 million. AdvertisementThe viral baby hippo sensation that is Moo Deng has a crypto token attached to her likeness that is now worth $200 million. At its peak on Saturday, the crypto token had a market value of $336 million, the same day Saturday Night Live addressed the Moo Deng topic in its Weekend Update segment. The Zoo even set up a 24/7 livestream camera to watch Moo Deng at all times of the day. AdvertisementBusiness Insider contacted various crypto experts for comment on the Moo Deng crypto token but has yet to receive a response.

Persons: Moo Deng, that's, Moo, — Organizations: Solana, Service Locations: CoinMarketCap, New York, Thailand

☆ Tesla Q3 deliveries preview: Wall Street expects a beat as Musk & Co. get their 'mojo' back
▼ + stars: | 2024-10-01 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Tesla's third-quarter vehicle deliveries are expected to exceed Wall Street estimates. AdvertisementTesla's upcoming third-quarter vehicle deliveries report should impress investors, according to Wall Street experts. Tesla stock has been on a wild ride this year. AdvertisementBarclays: 'Concerns on fundamentals have dissipated'Barclays analyst Dan Levy is expecting Tesla to report solid vehicle deliveries later this week, according to a recent note. Levy said that thanks to expected strength in Tesla's China business, the company will announce third-quarter vehicle deliveries of 470,000, ahead of Wall Street estimates.

Persons: —, Goldman Sachs, Tesla, Dan Levy, Levy, Mark Delaney, Delaney, Dan Ives, Ives Organizations: Barclays, Service Locations: China, flattish, Europe

☆ Stock market today: US indexes edge higher to records as Powell talks up strength of the economy
▼ + stars: | 2024-09-30 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Powell emphasized the economy's strength and recalibrated interest rate cut expectations. Investors are also eyeing key employment data releases this week for further market direction. All three major indexes moved higher in late trading following Powell's comments about the strength of the US economy. AdvertisementPowell's comments recalibrated interest rate cut expectations in the market. Here's where US indexes stood at the 4 p.m. closing bell on Monday:AdvertisementAside from Fed comments, investors are preparing for a wave of employment data this week.

Persons: Jerome Powell's, Powell, —, Jerome Powell Organizations: Service, Dow, Federal, National Association for Business Economics

☆ A 'Roaring '20s' economy is becoming more likely as bullish factors stack up, UBS says
▼ + stars: | 2024-09-30 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

UBS predicts a "Roaring '20s" economy, assigning a 50% chance to such an expansion by 2030. Solid data revisions, along with Fed rate cuts, support the optimistic outlook. "It's no longer too soon nor too optimistic to suggest that the US will experience a Roaring '20s economy," UBS said. AdvertisementA slew of bullish factors suggest the economy could be headed towards "Roaring '20s" status, according to a Monday note from UBS. Advertisement"The bread crumbs suggest a policy reaction function that is directionally supportive of a Roaring '20s outcome," Draho said of the Fed Chairman Jerome Powell's full employment goals.

Persons: —, UBS's, Jason Draho, Draho, Jerome Powell's Organizations: UBS, Service, Treasury, Atlanta, CPI

☆ Stock market today: US indexes drop as investors prepare for wave of jobs data this week
▼ + stars: | 2024-09-30 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks dipped slightly on Monday as investors await key employment data this week. Economists predict about 145,000 new jobs in September, with the unemployment rate steady at 4.2%. The Fed's renewed focus on jobs data could influence future interest rate cuts. AdvertisementUS stocks edged lower on Monday as investors prepare for a wave of employment data this week. Economists expect about 145,000 jobs added to the economy in September, with the unemployment rate staying flat at 4.2%.

Persons: —, Shigeru Ishiba Organizations: Service, Here's, Overseas, CSI, Nikkei Locations: China

☆ Trump Media stock is down 70% since going public. One expert says its $3 billion valuation is still 'unjustifiable.'
▼ + stars: | 2024-09-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Trump Media shares have plunged 70% since going public in March. AdvertisementShares of Trump Media have plunged 70% since the company went public in March. Even after that sell-off, it's carrying a market value of roughly $3 billion, a figure one expert says is still too high. AdvertisementIn addition to the eye-watering valuation, Woods said Truth Social's growth has limited upside due to its political nature. Another lingering issue weighing down Truth Social stock is Trump's increasingly frequent use of its biggest competitor, X, formerly known as Twitter.

Persons: —, Jay Woods, Woods, There's, Trump, he's Organizations: Trump Media, Service, Bloomberg, Freedom Capital Markets, United Atlantic Ventures

☆ A super-rare bullish signal with a perfect track record just flashed in the stock market, suggesting another year of record highs
▼ + stars: | 2024-09-27 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

A rare bullish signal with a perfect track record flashed in the stock market this week. This signal has flashed 28 times since 1962, with the S&P 500 averaging 15% returns one-year later. AdvertisementAn ultra-rare bullish signal with a perfect track record flashed in the stock market this week, suggesting another year of record highs ahead. Advertisement"Similar improvements in market breadth resulted in a 96% win rate over the following year," Christians said in a note to clients on Tuesday. But the signal has a perfect win rate when it flashes while the stock market is at or near record highs, as it did this week.

Persons: —, McClellan, SentimenTrader, Dean Christians, that's Organizations: Service

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