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☆ Bologna's 'leaning' tower, the Garisenda, closed off amid subsidence fears
▼ + stars: | 2023-10-25 | by ( Julia Buckley | ) edition.cnn.com time to read: +5 min

And now the medieval Garisenda “leaning” tower in Bologna is sparking very modern publicity, with concern that it might be subsiding. But it leans at an angle of four degrees – only a little more upright than the Leaning Tower of Pisa, set at a tipsy five-degree angle. Shortened in later years, it sits in the city center beside the Asinelli – a tower twice the height, which tourists can climb. Lepore said that the tower “has been leaning for several centuries, and it has been the subject of various interventions over decades.”The Garisenda, seen next to the higher Asinelli tower, leans at a four-degree angle. Lepore represents the center-left Democratic Party, and his council opposition has cast him as failing to protect the tower.

Persons: we’ll, Stanley Tucci, CNN — Dante Alighieri, Charles Dickens, Dante, Matteo Lepore, ”, Lepore, Genoa’s, ” Lepore, “, Lucia Borgonzoni, Borgonzoni, Fabio Bergonzini Organizations: CNN, intel, Northern League, Democratic Party Locations: Italy, Bologna, Manhattan, Pisa, Emilia, Romagna, Lepore, “

☆ Cramer: Nvidia still likely to outperform other U.S. chipmakers despite China woes
▼ + stars: | 2023-10-25 | by ( Morgan Chittum | ) www.cnbc.com time to read: +1 min

The latest U.S. restrictions on AI chip sales in China won't dethrone Nvidia (NVDA) as the world's most valuable semiconductor company, CNBC's Jim Cramer said Wednesday. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. The impact of the updated export controls will heat up competition in the U.S. market further, Cramer said on "Squawk on the Street." Shares of Nvidia, up a whopping 200% year-to-date, edged lower after Wednesday's opening. Nvidia, Alphabet and Microsoft are stock holdings in Jim's Charitable Trust, the portfolio used by the CNBC Investing Club.

Persons: CNBC's Jim Cramer, Jim Cramer's, Cramer Organizations: Nvidia, Devices, Intel, Microsoft, Trust, CNBC, Club Locations: U.S, China

☆ US drops digital trade demands at WTO to allow room for stronger tech regulation
▼ + stars: | 2023-10-25 | by ( David Lawder | ) www.reuters.com time to read: +4 min

U.S. Trade Representative Katherine Tai speaks during the Axios BFD event in New York City, U.S., October 12, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsWASHINGTON, Oct 25 (Reuters) - U.S. Trade Representative Katherine Tai has dropped longstanding U.S. digital trade demands in World Trade Organization talks in order to give Congress room to regulate big tech firms, her office said on Wednesday. USTR spokesman Sam Michel said many countries were examining their approaches to data and source code, and how trade rules can affect them. "We need to make clear that digital rules favoring Big Tech monopolies are a non-starter for the U.S. in any trade agreement, including IPEF,” she said. "These digital trade rules prevent countries around the world from using regulation to lock out American companies and their workers from their markets," said John Murphy, the Chamber's senior vice president for international policy.

Persons: Katherine Tai, Brendan McDermid, Trump, Biden, Ron Wyden, ", Wyden, Sam Michel, Michel, Elizabeth Warren of Massachusetts, Tai, ”, USTR, John Murphy, David Lawder, Diane Craft Organizations: Trade, REUTERS, Rights, . Trade, Trade Organization, U.S, Reuters, Prosperity, WIN, Oregon Democrat, Senate Finance Committee, Congress, Intel, Democratic, Big Tech, . Chamber, Commerce, Thomson Locations: New York City, U.S, Geneva, CHINA, China, Australia, Japan, Korea, Oregon, United States, Mexico, Canada

☆ Russia moved one of its satellites uncomfortably close to a French one, possibly to spy on it: report
▼ + stars: | 2023-10-25 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +3 min

Russia moved close to a satellite which some think is Eutelsat's 3B craft, analysts said. It follows a pattern of Russian behavior in space that has prompted security concerns. AdvertisementAdvertisementRussia moved one of its satellites uncomfortably close to France's Eutelsat 3B communications satellite, possibly to spy on it, according to reports. AdvertisementAdvertisementEutelsat's 3B satellite provides broadband, data, telecom, and video services across Europe, Africa, the Middle East, Central Asia, and South America. Luch-5-X/Olymp K-2 isn't close enough to crash into the unnamed commercial satellite.

Persons: —, Audrey Schaffer, TJ Kouri, Schaffer, it's, spacenews.com, Olymp, Michael Clont Organizations: Service, intel, Aerospace, Breaking Defense, Airbus, National Security Council, Analysts, Intelsat, Strategic International, Space Locations: Russia, Russian, France, Europe, Africa, East, Central Asia, South America, Eutelsat's, Ukraine

☆ Qualcomm unveils new PC laptop chip with AI features for 2024
▼ + stars: | 2023-10-24 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

A smartphone with a displayed Qualcomm logo is placed on a computer motherboard in this illustration taken March 6, 2023. Qualcomm executives said that the company's new Snapdragon Elite X chip will be available in laptops starting next year and has been redesigned to better handle artificial intelligence tasks like summarizing emails, writing text and generating images. Qualcomm will be the first to market with a chip to challenge Apple, whose laptop and desktop computers have more than doubled their market share since the iPhone maker introduced custom-designed chips in 2020. Qualcomm claimed on Tuesday that the X Elite is faster than Apple's M2 Max chip at some tasks and more energy efficient than both Apple and Intel (INTC.O) PC chips. Reporting by Stephen Nellis in San Francisco; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Alex Katouzian, Katouzian, Francis Sideco, You've, Sideco, Stephen Nellis, Lisa Shumaker Organizations: Qualcomm, REUTERS, Microsoft, Reuters, Nvidia, Devices, Apple, Intel, TIRIAS, Thomson Locations: San Diego , California, San Francisco

☆ Apple announces ‘scary fast’ October event
▼ + stars: | 2023-10-24 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +1 min

CNN —Apple announced its second product event of the season, a month after introducing its new iPhone 15 lineup. The tagline for the event – “scary fast” – is an apparent nod to the likely unveiling of its next-generation silicon chip, M3, as well as Halloween. The company is expected to show off new iMac computers boasting the new powerful chipset in a move that should also boost Mac sales. The 24-inch iMac is expected to get the M3 chip at Apple’s event this year. Last month, Apple unveiled its iPhone 15 devices with a slimmer design, a more-advanced main camera system, a customizable Action button, and USB-C charging.

Persons: CNN —, Apple Organizations: CNN, CNN — Apple, Apple, Mac, IDC, Intel

☆ Russia tried to field an elite series of 'storm' units but ended up stuffing them with convicts instead, UK intel says
▼ + stars: | 2023-10-24 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

The UK MOD said Russia tried to create elite "storm" units in Ukraine, but they were largely ineffective. The UK update said the debacle showed how Russia was struggling to field effective fighters. AdvertisementAdvertisementRussia tried to build up its "Storm Z" units as an elite fighting force but instead pivoted to stuffing them with convicts and other low-quality fighters, UK intelligence said. Fighters in the units and people with knowledge of them told Reuters this month that soldiers in storm units were seen as disposable. "Storm fighters, they're just meat," he told Reuters, adding that he disobeyed the instruction not to help them.

Persons: —, Russia's Organizations: MOD, Service, UK Ministry of Defence, Reuters, Institute for, Fighters Locations: Russia, Ukraine

☆ Intel's 'constant challenge' is more competition in the AI chip space, analyst says
▼ + stars: | 2023-10-24 | 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 EmailIntel's 'constant challenge' is more competition in the AI chip space, analyst saysDaniel Newman, CEO and principal analyst of Futurum Research, says, however, that he's "not as bearish on Intel as some."

Persons: Daniel Newman Organizations: Futurum, Intel

☆ Nvidia says U.S. speeded up new export curbs on AI chips
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +1 min

A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 24 (Reuters) - Chip designer Nvidia (NVDA.O) said new U.S. export curbs on the sale of its high-end artificial intelligence chips to China came into effect on Monday as regulators advanced the deadline. The restrictions were supposed to come into play 30 days from Oct. 17 when the Biden administration unveiled measures to stop countries, including China, Iran and Russia, from receiving advanced AI chips designed by Nvidia and others. The restrictions bar exports of Nvidia's modified advanced AI chips A800 and H800 - both of which were created for the Chinese market to comply with previous export rules. The Nvidia A100, H100 and L40S chips are also impacted by the curbs.

Persons: Dado Ruvic, Nvidia, Biden, Aditya Soni, Arun Koyyur, Anil D'Silva Organizations: NVIDIA, REUTERS, Nvidia, Devices, U.S . Department of Commerce, Intel, Gaudi, Thomson Locations: China, Iran, Russia, U.S, Bengaluru

☆ Dutch lawmakers question new US export restrictions on ASML chip machine
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

AMSTERDAM, Oct 25 (Reuters) - Several Dutch lawmakers on Tuesday challenged the Netherlands' Trade Minister over whether the U.S. has acted correctly in unilaterally imposing new rules regulating the export to China of another chipmaking machine made by ASML Holding (ASML.AS). The U.S. last week announced new rules giving Washington the right to restrict the export of Veldhoven-headquartered ASML's Twinscan NXT1930Di machine if it contains any U.S. parts at all. The deep ultraviolet (DUV) lithography machine can be used to help make both relatively advanced computer chips as well as mid-range and older chips. The U.S. has pressured the Dutch government not to export any of its most advanced machines to China since 2019, and in June the Dutch government introduced its own licensing requirement for slightly less advanced machines. ASML dominates the market for lithography equipment, used by chipmakers such as TSMC (2330.TW), Samsung (005930.KS) and Intel (INTC.O) to help create the circuitry of chips.

Persons: Liesje Schreinemacher, ASML, Schreienmacher, I've, Valdis Dombrovskis, Theirry, Toby Sterling, Jamie Freed Organizations: Trade, ASML, . Trade, U.S, Washington, Samsung, Intel, European Trade, Internal, Thomson Locations: AMSTERDAM, Netherlands, U.S, China, Taiwan, South Korea

☆ CNBC Daily Open: Oil deals and awaiting tech earnings
▼ + stars: | 2023-10-24 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange on April 26, 2023 in New York City. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Investors awaited the release of corporate earnings from tech giants including Alphabet and Microsoft. Another oil mega-mergerChevron on Monday said it agreed to buy Hess for $53 billion in stock.

Persons: Hess, Tesla, Elon, Goldman Sachs Organizations: New York Stock Exchange, CNBC, Nasdaq, Microsoft, European Central, Chevron, U.S, Exxon Mobil, Natural Resources, Exxon, Nvidia, Arm Holdings, Reuters, Intel, Devices, U.S . Department of Justice, Elon Musk's, Federal Reserve Locations: New York City, Guyana

☆ These stocks are on the verge of a breakout and earnings could push them over the top
▼ + stars: | 2023-10-24 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

CNBC Pro looked for stocks that are within 5% of a 52-week high and are up more than 1% so far this month. That is, the consensus price target on these stocks call for a gain of at least 5%. Shares are currently 3.3% off from the 52-week high. Wall Street sees further gains for the name, as analysts' consensus price target suggests upside of 8% from here. Other names on the verge of a breakout include drug wholesale company Cencora , Vertex Pharmaceuticals and natural gas company Targa Resources .

Persons: FANG, Scott Gruber, — CNBC's Michael Bloom Organizations: Google, Microsoft, Amazon, Intel, CNBC, Big Tech, Investors, Diamondback Energy, Analysts, Citi, Diamondback, Citi Research, Vertex Pharmaceuticals, Targa Resources

☆ Where we stand on Nvidia's latest China update and its potential foray into a new processor market
▼ + stars: | 2023-10-24 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +7 min

The company commands a dominant position in the market for chips used in AI model training. But the question that still lingers in our minds is whether that growth can be substantial enough to meet the lofty, multiyear expectations that became baked into Nvidia's stock price in recent months. Based on the Reuters report, the potential boost to revenue wouldn't arrive for more than a year, and it's unclear what Nvidia's market share would look like then. Another reason for tempered enthusiasm: The gross margins on PC CPUs are typically smaller than Nvidia's data-center chips, a market in which the company has pricing power. Bottom line Nvidia's potential foray in PC CPUs is a development that we'll continue to monitor, but it doesn't put to rest longer-term questions around China.

Persons: Jim Cramer, Jim, Biden, Washington's, Grace Hopper superchip, it's, doesn't, Jim Cramer's, Tyrone Siu Organizations: Nvidia, of Commerce, Reuters, Microsoft, Arm Holdings, Intel, Devices, AMD, Bank of America, Apple, Qualcomm, CNBC, Nvidia Corporation Locations: China, Silicon Valley, U.S, Taipei, Taiwan

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 20, 2023. General Electric (GE.N) jumped 6.4% in premarket trading after the aircraft engine manufacturer raised its full-year profit forecast. General Motors (GM.N) added 1.5% after beating third-quarter profit estimates, while 3M (MMM.N) gained 4.1% after raising its full-year adjusted profit forecast. Of the 86 companies in the S&P 500 that have reported earnings so far, 78% have topped analysts' expectations, LSEG data showed. The turmoil in the Middle East is also focus as Israel intensified its assault on Hamas in Gaza.

Persons: Brendan McDermid, Bitcoin, Shubham Batra, Shashwat Chauhan, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, General Electric, General Motors, 3M, Societe Generale, Apple, Microsoft, Reserve, Nvidia, Commerce Department, Dow e, Reuters, Arm Holdings, Intel, Marathon, Thomson Locations: New York City, U.S, Israel, Gaza, Coinbase, Bengaluru

☆ Everyone in the semi sector wants to compete against Intel, says Trivariate's Adam Parker
▼ + stars: | 2023-10-24 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEveryone in the semi sector wants to compete against Intel, says Trivariate's Adam ParkerBryn Talkington, managing partner at Requisite Capital Management, and Adam Parker, funder & CEO of Trivariate Research, joins 'Closing Bell' to discuss AI development fueling the competition landscape semiconductors, how small cap margins compare to mega caps, and capex spending levels among tech stocks.

Persons: Trivariate's Adam Parker Bryn Talkington, Adam Parker, funder Organizations: Intel, Capital Management, Trivariate

☆ Asia shares slip on Middle East woes, rising yields
▼ + stars: | 2023-10-23 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

Passersby walk past an electric monitor displaying the Japanese yen exchange rate against the U.S. dollar outside a brokerage in Tokyo, Japan October 4, 2023. Bonds were also under pressure as U.S. 10-year Treasury yields crept to within a whisker of 5.0%, pushing borrowing costs up across the globe and testing equity valuations. On Monday, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) slipped 0.4% to its lowest in almost a year. Both S&P 500 futures and Nasdaq futures added 0.2%, underpinned by hopes a rush of earnings reports this week will provide some support. Oil prices gave back some ground in the absence of any disruption to supplies from the Middle East, at least for now.

Persons: Issei Kato, Bonds, Israel, Bruce Kasman, outperformance, Gold, Brent, Wayne Cole, Shri Navaratnam Organizations: U.S, REUTERS, Nikkei, Washington, European Central Bank and Bank of Canada, Federal Reserve, Japan's Nikkei, FTSE, Nasdaq, Microsoft, IBM, Intel, JPMorgan, Bank of Japan, Swiss, Thomson Locations: Tokyo, Japan, China, SYDNEY, Gaza, Lebanon, Asia, Pacific

☆ Morning Bid: Stocks struggle as yields rise, tech earnings loom
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File photo Acquire Licensing RightsA look at the day ahead in European and global markets from Wayne Cole. It failed to impress bond markets, however, as U.S. 10-year yields crept back up to 4.967% having surged almost 30 basis points last week alone. The scale of U.S. borrowing is also likely a concern given Washington last week reported a $1.695 trillion budget deficit for fiscal 2023, fully 23% higher than the prior year and above all pre-pandemic shortfalls. Higher bond yields are also testing valuations for equities and promise pain for any company that misses the market's earnings expectations this week. Key developments that could influence markets on Monday:- No major data scheduledEditing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Wayne Cole, It's, Jacqueline Wong Organizations: Western Alliance, New York Stock Exchange, REUTERS, Israel, Nikkei, Bank of Japan, European Central Bank, Microsoft, Intel, IBM, General Motors, General Electric, Thomson Locations: New York City, U.S, Wayne, Asia, Israel, Gaza, Iran, Lebanon, United States, Canada, France, Germany, Italy, Britain, Washington, Japan

☆ Intel stock drops on report Nvidia is working on an Arm-based PC chip
▼ + stars: | 2023-10-23 | by ( Kif Leswing | ) www.cnbc.com time to read: +1 min

Intel stock dropped 3% Monday after Reuters reported that Nvidia and AMD were working on Arm-based PC chips. Intel currently has the majority of the market for PC chips, with AMD coming in second. Intel's PC chips are based on the x86 instruction set. Chips that use the Arm-based instruction set, like those for smartphones, often use significantly less power, which is critical for battery-powered devices. Qualcomm has been working on its own Arm-based PC chips for years, although it has yet to gain significant sales traction.

Organizations: Nvidia, Intel, Reuters, AMD, Apple, AMD's, Microsoft, Qualcomm, CNBC Locations: Santa Clara , California

Nvidia and AMD could sell PC chips as soon as 2025, one of the people familiar with the matter said. Nvidia and AMD would join Qualcomm (QCOM.O), which has been making Arm-based chips for laptops since 2016. Nvidia spokesperson Ken Brown, AMD spokesperson Brandi Marina, Arm spokesperson Kristen Ray and Microsoft spokesperson Pete Wootton all declined to comment. Executives at Microsoft have observed how efficient Apple’s Arm-based chips are, including with AI processing, and desire to attain similar performance, one of the sources said. AMD's entry into the Arm-based PC market was earlier reported by chip-focused publication SemiAccurate.

Persons: Intel’s, Ken Brown, Brandi Marina, Kristen Ray, Pete Wootton, ”, Jay Goldberg, Will Moss, Stephen Nellis, Max A, Kenneth Li, Josie Kao Organizations: NVIDIA, Handout, REUTERS, Nvidia, Arm Holdings, Reuters, Windows, Apple, IDC, Devices, AMD, Qualcomm, Microsoft, Intel, D2D, Software, Thomson Locations: Santa Clara , California, San Francisco

☆ Stock futures inch higher as investors await tech earnings: Live updates
▼ + stars: | 2023-10-23 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Stock futures rose slightly Monday night as investors focused on the upcoming slate of earnings reports from major tech companies. S&P 500 futures and Nasdaq 100 futures also each climbed 0.2%. The Dow and S&P 500 finished Monday's session down about 0.6% and 0.2%, respectively. But the technology-heavy Nasdaq Composite was able to finish up about 0.3%, as investors bought into the sector with important earnings reports ahead. About 17% of S&P 500 companies have already reported earnings, and three-quarters of them have posted earnings surpassing analysts' expectations, according to FactSet.

Persons: Terry Sandven Organizations: New York Stock Exchange, Futures, Dow Jones, Nasdaq, Treasury, U.S, Bank Asset Management, Spotify, General Motors, Microsoft, Meta, IBM, Intel, Wall Locations: FactSet

☆ This PC is infused with real human blood
▼ + stars: | 2023-10-23 | by ( Haley Tenore | ) www.businessinsider.com time to read: +3 min

Blizzard is giving away a blood-infused PC to one lucky winner, as well as hosting a blood drive. The game studio, which is behind popular games like "Diablo IV" and "Overwatch," is giving away a PC that might be part of a vampire's dream gaming setup: a liquid-cooled PC that's infused with human blood. The blood donations and the blood-infused PC are both a reference to the newest season of "Diablo IV," Season of Blood, which launched on October 17 and features vampire powers. However, you don't have to be 18 or over to enter the giveaway for the blood-infused PC. In 2021, Lil Nas X released a custom pair of Nike Air Max '97s infused with a drop of human blood in each pair.

Persons: Nas X, Tony Hawk, —, Lil Nas, Nike Air Max, MSCHF Organizations: Service, Nvidia, Blizzard, PC, Nike Air

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 20, 2023. The yield on the note touched the July 2007 milestone that it briefly attempted to scale last week. Of the 86 companies in the S&P 500 that have reported earnings so far in the third quarter, 78% have been above analyst estimates, according to the LSEG data. The benchmark stock index is down 8% from late July, when it hit its highest for the year, though still up 10% year-to-date. ET, Dow e-minis were down 224 points, or 0.67%, S&P 500 e-minis were down 31.5 points, or 0.74%, and Nasdaq 100 e-minis were down 129.75 points, or 0.88%.

Persons: Brendan McDermid, Hess, Hadjikyriacos, Benjamin Netanyahu, Jerome Powell, Piper Sandler, Morgan, Shubham Batra, Shashwat Chauhan, Nivedita Bhattacharjee, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Chevron, Walgreens, Dow, Nasdaq, XM, Apple, Microsoft, Nvidia, Intel, Exxon Mobil, General Motors, Federal, Market, Dow e, Walgreens Boots Alliance, Hess Corp, Thomson Locations: New York City, U.S, megacap, Israel, Gaza, Bengaluru

☆ How Micron is building the biggest chip fab in U.S. history despite a China ban and smartphone slump
▼ + stars: | 2023-10-23 | by ( Katie Tarasov | ) www.cnbc.com time to read: +12 min

But multiple memory chips are needed to support each GPU or CPU, so making memory requires more fab space. Micron says construction in New York will begin at the end of 2024 and chip production there will start in 2027. By 1980, it was building its first fab and a year later was pumping out a revolutionarily small 64K DRAM chip. Gatzemeier, who joined as an intern in 1997, explained the two main kinds of memory: DRAM and NAND. When it comes to the biggest type of memory, DRAM, Samsung is by far the leader, followed by SK Hynix and then Micron.

Persons: Sanjay Mehrotra, Ben Farrar, Scott Gatzemeier, Mehrotra, Chuck Schumer, Schumer, Kathy Hochul, Hochul, Gatzemeier, Katie Tarasov, Kent Kessinger, Patrick Moorhead, Gaurav Gupta, it's, Moorhead, HBM, China's, Gartner's Gupta, that's, Xi Jinping, Micron's Organizations: Samsung, SK Hynix, Micron, CNBC, U.S, Intel, AMD, Labor, Syracuse . New York Gov, New York, Texas, Gartner, Apple, Motorola, Asus, China Micron, Biden Locations: South Korea , Idaho, U.S, China, Japan, Taiwan, Boise , Idaho, New York, Manassas , Virginia, Syracuse , New York, Asia, Syracuse, Idaho, New, Jose, Boise, India, Fujian

The benchmark S&P 500 index (.SPX) bounced above 4200, a key technical level, after falling almost a percent during the open. Microsoft (MSFT.O), Alphabet (GOOGL.O), Amazon.com (AMZN.O) and Meta Platforms (META.O), which have helped power the S&P 500 (.SPX) higher in 2023 while the other indexes lagged, report later this week. Chipmaker Intel (INTC.O), oil major Exxon Mobil (XOM.N), General Motors (GM.N) are among other major companies set to report results this week. Overall, earnings are expected to grow at 1.2% in the third quarter for S&P 500 companies, as per LSEG data. Seven of the 11 major S&P 500 sub sectors were in the green, with industrials (.SPLRCI) and communication services (.SPLRCL) leading gains.

Persons: Brendan McDermid, Hess, Bill Ackman's, David Bahnsen, Piper Sandler, Morgan, advancers, Shubham Batra, Shashwat Chauhan, Sriraj Kalluvila, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Chevron, Walgreens, Dow, Nasdaq, Capital Management, Microsoft, Intel, Exxon Mobil, General Motors, Dow Jones, Walgreens Boots Alliance, Hess Corp, FMC, NYSE, Thomson Locations: New York City, U.S, East, Israel, Gaza, Lebanon, Bengaluru

☆ After a robust third quarter, US economic growth will likely slow. That's good for the prospect of rate cuts next year.
▼ + stars: | 2023-10-22 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

The central bank also doesn’t have any incentive to restrict the economy through elevated interest rates if inflation is already under control. The US central bank has raised interest rates 11 times since March 2022 to their highest level in 22 years. The US Commerce Department reports new home sales in September. The US Commerce Department reports third-quarter gross domestic product along with September figures on new durable-goods orders. The US Labor Department reports the number of new applications for jobless benefits in the week ended October 21.

Persons: Jerome Powell, ” Gregory Daco, ” Diane Swonk, Donald Trump, Colin Kaepernick’s, Bud Light’s, Elliott Gotkine, ”, Jeffrey Sonnenfeld, “, Satya Nadella, ” Sundar Pichai, , Sherwin, Williams, Clark, General, Hess, Rowe Price Organizations: CNN Business, Bell, DC CNN, The Commerce Department, Federal Reserve, Treasury, KPMG, BlackRock, America, Nike, Yale School of Management, Microsoft, ” Disney, Sonnenfeld, Tottenham Hotspur, Whirlpool, Verizon, General Electric, Barclays, 3M, General Motors, Spotify, Quest Diagnostics, Mobile, Boeing, General Dynamics, Old Dominion, Hilton, Meta, IBM, US Commerce Department, Mastercard, Merck, Comcast, UPS, Myers Squibb, Northrop Grumman, Valero, The Hershey Company, Amazon, Intel, European Central Bank, US Labor Department, National Association of Realtors, Exxon Mobil, Chevron, Colgate, Palmolive, Phillips, University of Michigan Locations: Washington, EY, Israel, United States, United Kingdom, London, Gaza, Kimberly, Haliburton, Old, Bristol, AbbVie

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