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☆ CNBC Daily Open: U.S. elections in spotlight as polls open
▼ + stars: | 2024-11-05 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

People vote at the San Francisco City Hall voting center on the final day of early voting ahead of Election Day, on November 4, 2024 in San Francisco, California. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. U.S. markets mostly gain after electionsHistorically, stocks have mostly risen after a presidential election, though there can be some short-term volatility. The three major U.S. benchmarks on average have almost always clocked gains between Election Day and year-end, going back to 1980, according to CNBC data.

Persons: Stocks, Tesla Organizations: San Francisco City Hall, CNBC, Dow Jones, Nasdaq, China's CSI, Apple, Starbucks, Nike, Adidas, U.S, Conference Board Locations: San Francisco , California, U.S, Asia, Pacific, China, Poor China

Traders work on the floor at the New York Stock Exchange on Oct. 24, 2024. Brendan McDermid | ReutersStocks typically rise after a presidential election — but investors need to be prepared for some short-term choppiness first, history shows. The three major benchmarks on average have seen gains between Election Day and year-end in the presidential election year going back to 1980, according to CNBC data. However, investors shouldn't be expecting a straight shot up in the market after polls close. This means investors shouldn't be anticipating an immediate pop on Wednesday or the next few days after.

Persons: Brendan McDermid, shouldn't, Stocks Organizations: New York Stock Exchange, Reuters, CNBC, Dow, Nasdaq Locations: America

☆ New York Times adds fewer digital subscribers as spending tightens
▼ + stars: | 2024-11-04 | by ( ) www.cnbc.com time to read: +1 min

The New York Times building is seen in Manhattan, New York, August 3, 2020. New York Times posted fewer-than-expected digital subscribers for the third quarter as readers cut back on spending in an uncertain economy, offsetting strong growth in advertising sales. The company added 260,000 digital-only subscribers, compared with 300,000 additions in the previous quarter. New York Times forecast subscription revenues to grow by 7% to 9% in the fourth quarter, slightly below expectations for 8.2% growth. Revenue from sports news site The Athletic, purchased by the New York Times in 2022, jumped 29.8% to $44.7 million from $34.4 million a year ago.

Organizations: New York Times, LSEG, Athletic Locations: Manhattan , New York

☆ Stock futures inch lower as Wall Street readies for U.S. presidential election: Live updates
▼ + stars: | 2024-11-03 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Stock futures dipped in overnight trading Sunday as investors geared up for the highly-anticipated U.S. presidential election. S&P 500 futures and Nasdsq-100 futures edged lower. Stocks are coming off a strong start to November, with Amazon and big technology stocks boosting the tech-heavy Nasdaq Composite and S&P 500- 0.8% and 0.4%, respectively. Along with the election, Wall Street is bracing for the latest rate decision from the Federal Reserve. Earnings seasons presses on with about a fifth of the S&P 500 slated to report in the coming week.

Persons: —, Donald Trump, Kamala Harris, CFRA Research's Sam Stovall, CNBC's, We've, Jerome Powell, Sarah Min Organizations: Dow Jones Industrial, Amazon, Nasdaq, Dow Jones, NBC, U.S . House, Republican, Democratic, Federal Reserve, Traders, Micro, Moderna, CVS Health, Qualcomm, Wynn Resorts

☆ The 3 things that will influence the stock market in the most consequential week of the year
▼ + stars: | 2024-11-03 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

The major stock benchmarks rallied Friday but were lower last week, with the Nasdaq leading the way lower after reaching new highs. Eight other Club names reported earnings last week, including Eli Lilly and Eaton. Despite indications from Big Tech that Nvidia's AI chips will remain in hot demand, the Club stock fell 4.3% for the week. The S & P 500 , which is less tech-weighted, fell nearly 1.4% for the week, making it back-to-back weekly losses for the broader market index. Earnings After analyzing earnings reports from 14 of our portfolio companies last week, there is only one Club name on the docket this week.

Persons: Eli Lilly, Eaton, Jim Cramer, financials Goldman Sachs, Kamala Harris, Donald Trump, Harris, Trump, That's, Jerome Powell, We're, we'll, Archer, Johnson, Jim Cramer's, Jim, Brendan McDermid Organizations: Nasdaq, Devices, Apple, Microsoft, Big Tech, Club, Nvidia, Dow, Intel, AMD, Dow Jones, Visa, American Express, JPMorgan, Bond, Federal Reserve, Boeing, Treasury, White, DuPont, Election, Protection, Electronics, Industrial, Constellation Energy, Marriott, Century Fox, Wynn Resorts, WYNN, Goodyear Tire, Cirrus, Diamondback Energy, Daniels, Midland, Apollo Global Management, Ferrari, Restaurant Brands, Emerson Electric, Devon Energy, Novo Nordisk, CVS Health, Howmet Aerospace, Teva Pharmaceutical Industries, Cedar Fair Entertainment, Toyota, American Electric Power Company, Johnson Controls, Dine Brands, Holdings, AMC Entertainment, Qualcomm, Coty, COTY, Energy, Barrick, Halliburton, HAL, Hershey, Air Products & Chemicals, Warner Bros ., Arista Networks, Rivian Automotive, Trade, Icahn Enterprises, Sony, SONY, Paramount, Jim Cramer's Charitable, CNBC, New York Stock Exchange Locations: BlackRock, Florida, China, Sluggishness, Cleveland, New York City, U.S

That’s when Election Day turns into election night, and each state starts reporting its vote totals. Virginia is an example of a state that usually has a geography-driven red mirage early on election night. Another factor that can cause vote mirages is partisan differences by vote mode — mail ballots, early in-person votes, Election Day in-person votes, and so on. This will produce a vote mirage if there are partisan differences between the earliest-returned mail ballots and the later-returned ones. As Election Day votes were reported in the next few hours of election night, the size of the blue mirage shrunk to about 3.5 points.

Persons: That’s, ”, Joe Biden, Donald Trump, Biden, Donald Trump’s, Kyrsten Sinema, Trump, Ann Arbor, Clark, Clark’s Organizations: North Carolina —, Republican, Washington , D.C, Democratic, Democrat, NBC, Trump, Biden, Senate Locations: Florida, Georgia, North Carolina, Arizona , Nevada, California, Virginia, Fairfax, Washington ,, Fairfax County, Arizona, Maricopa County, Atlanta, Pennsylvania, Democratic Philadelphia, Allegheny, Philadelphia, Michigan, Detroit, Grand Rapids, Ann, Wisconsin, Milwaukee, Nevada, Las Vegas

☆ CNBC Daily Open: For Big Tech, beating earnings expectations is not enough
▼ + stars: | 2024-11-01 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The 12-month inflation rate was 2.1%. The core inflation rate, which excludes food and energy prices, came in at 2.7%. Big Tech drags down marketsMajor U.S. indexes slumped on Thursday, weighed down heavily by losses in Big Tech shares.

Persons: Dow Jones, Europe's, Jesse Pound Organizations: CNBC, U.S . Commerce Department, Big Tech, U.S, Apple, Amazon, Boeing, Bank of America Locations: U.S, Cupertino

☆ Gold little changed ahead of U.S. payrolls data
▼ + stars: | 2024-11-01 | by ( ) www.cnbc.com time to read: +2 min

Twenty kilogram gold and silver bricks sit at the ABC Refinery smelter in Sydney, New South Wales, Australia, on Thursday, July 2, 2020. Gold traded little changed on Friday as investors refrained from taking big positions ahead of the U.S. payrolls data that could provide further clues about the Federal Reserve's interest rate outlook. Spot gold was flat at $2,746.09 per ounce, as of 0235 GMT. Gold prices gained more than 4% in October amid safe-haven flows spurred by the Middle East tensions and U.S. election uncertainty. Zero-yield gold thrives in a low interest rate environment.

Persons: Gold, Edward Meir, Kamala Harris, Donald Trump, nonfarm, Meir Organizations: ABC Refinery, Democratic, Republican, Reuters, Traders Locations: Sydney , New South Wales, Australia

☆ China new home prices grow slightly faster in Oct, private survey shows
▼ + stars: | 2024-11-01 | by ( ) www.cnbc.com time to read: +2 min

People look at models of houses at the 2021 Dalian autumn real estate fair at Dalian World Expo Center on October 15, 2021 in Dalian, Liaoning Province of China. Prices of new homes in China rose at a faster pace in October, traditionally a peak season for house hunting, a private survey showed on Friday, suggesting that recent support measures could be having some early impact in a crisis-hit market. The average price across 100 cities edged up 0.29%, compared with the previous month's 0.14%, according to data released by property researcher China Index Academy. On a year-on-year basis, the average price rose 2.08% versus 1.85% growth in September. Average new home prices fell 0.02% from a month earlier in smaller cities last month, the China Index Academy data showed.

Persons: Nomura Organizations: Dalian, China Index, Authorities, Nomura Locations: Dalian, Liaoning Province of China, China, Shanghai, Beijing

☆ Wendy’s is closing 140 restaurants
▼ + stars: | 2024-11-01 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —Wendy’s is closing 140 restaurants in the coming months, the fast food chain announced this week. But the company said it would open an equal number of new locations in areas it believes can generate better business for Wendy’s. “Overall, Wendy’s system is incredibly healthy.”This round of closures are in addition to 100 closings that Wendy’s announced in May. Despite the rounds of closures, the overall number of Wendy’s, which stands at about 6,000 in the US, isn’t shrinking. Other chains recently announced closures of underperforming locations, including Denny’s and Shake Shack.

Persons: New York CNN —, Kirk Tanner, Tanner, “, Wendy’s “, ”, Wendy’s, WEN, SpongeBob, ” Tanner Organizations: New, New York CNN, Wendy’s Locations: New York

☆ Bank of Japan likely to stay course with a rate hike in December or January, analysts say
▼ + stars: | 2024-11-01 | by ( Lin Lin | ) www.cnbc.com time to read: +4 min

After a messy election, the Bank of Japan decided to hold its benchmark policy rate at 0.25%, as expected. These outlook risks highlight that the timing of the next BOJ rate hike could depend heavily on developments overseas, as well as the exchange rate and its impact on the Japanese economy, Otani added. He added that it would surpass the 13 trillion yen ($84.6 billion) allocated in last year's supplementary budget. When Ishiba returns, he is expected to hold an extraordinary Diet session, during which he hopes to pass the supplementary budget plan, according to local news. Then I would probably rule out a rate hike in December, because that would create a lot of uncertainty about the fiscal situation."

Persons: Kazuo Ueda, Stefan Angrick, Angrick, Akira Otani, Goldman Sachs, Otani, Marcel Thieliant, Shigeru Ishiba, Ishibia, Ishiba, Thieliant Organizations: Japan, Bank of Japan, Moody's, Liberal Democratic Party, Asia Pacific, Capital Economics, CNBC, Democratic Party Locations: Tokyo, Japan, Brazil

☆ 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

☆ Thousands of ballots are at stake as the Supreme Court considers Pennsylvania voting rules
▼ + stars: | 2024-10-31 | by ( Marc Meredith | Michael Morse | Marc Meredith Is A Professor Of Political Science At The University Of Pennsylvania | ) www.nbcnews.com time to read: +10 min

Together, Pennsylvania’s mail ballot rules have generated an entire vocabulary for rejected mail ballots — ballots that are unsigned, undated or misdated, or even “naked,” if they are not clothed in a secrecy envelope. The latest update from Oct. 31 — after the general statewide deadline to request a mail ballot — shows there were 2,193,578 mail ballot applications ever approved. Combined with the deficient returned ballots that we already know about referenced above, that comes to about 8,000 deficient mail ballots that have been returned to date. Although this general election will likely see more mail ballots returned than the previous midterm, the trend so far suggests we might have fewer mail ballots rejected. Moreover, the experience in 2022 suggests there will also be thousands of provisional ballots cast by voters who return deficient mail ballots.

Persons: — Organizations: U.S, Supreme, NBC, Philadelphia Board, Democratic, Senate Locations: Pennsylvania

☆ 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

Those rules were in the spotlight in 2020, after Joe Biden won a handful of key battleground states by a razor-thin margin. Ahead of Election Day, here's a refresher of the recount rules in the states expected to be the closest in the presidential race. A bipartisan group of lawmakers approved new measures in 2024 that would shorten the time needed for a potential recount. Then, after the state certified Biden's victory, the Trump campaign requested a machine recount, as was its right under state law. The state recently enacted changes to Michigan's recount law, but none will go into effect before Election Day.

Persons: Joe Biden, Donald Trump, here's, Trump Organizations: Arizona, Electoral College, North Locations: Arizona, Georgia, . Michigan Michigan, North Carolina, Pennsylvania, Wisconsin

☆ Safe-haven gold on track for best month in seven
▼ + stars: | 2024-10-31 | by ( ) www.cnbc.com time to read: +2 min

Gold Bullion from the American Precious Metals Exchange seen in this picture taken in New York on Sept. 15, 2011. Gold prices climbed to a record high on Thursday and were headed for their best month in seven on safe-haven demand ahead of the U.S. presidential election, while investors awaited U.S. inflation report for clues on the interest rate path. Spot gold was steady at $2,786.89 per ounce, as of 0254 GMT, after hitting a record high of $2,790.15 earlier in the session. "Traders want to buy gold whether it rises or falls, and that has kept retracements small and consolidations tight. All three metals were on track for a monthly gain.

Persons: Donald Trump, Kamala Harris, Kyle Rodda, Matt Simpson, Bullion Organizations: Precious Metals, U.S, Republican, Democratic, Trump, Capital.com, Index Locations: New York, U.S, United States, Index ., China

☆ European markets expected to open lower ahead of euro zone inflation data
▼ + stars: | 2024-10-31 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Traders sit in front of trading screens at ETX Capital in central London on January 3, 2017. LONDON — European markets were heading for a lower open Thursday as investors look ahead to the latest euro zone inflation data. The preliminary reading for October will be closely watched as it will inform the European Central Bank as to the trajectory of expected interest rate cuts. Flash economic data published Wednesday showed that the euro zone economy grew 0.4% in the third quarter of 2024, above the 0.2% rise expected by economists polled by Reuters. There are more earnings Thursday with Shell , Stellantis , Maersk , AB Inbev and Carlsberg reporting.

Persons: Rachel Reeves Organizations: London's FTSE, European Central Bank, Reuters, Shell, Maersk, AB Inbev, Carlsberg, Labour Locations: London, London's

☆ 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

☆ Asia markets set for mixed open ahead of Bank of Japan decision, China factory activity figures
▼ + stars: | 2024-10-31 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Kazuo Ueda, governor of the Bank of Japan (BOJ), speaks during a news conference at the central bank's headquarters in Tokyo, JapanAsia-Pacific markets are set for a mixed open on Thursday as investors look to the Bank of Japan's rate decision, as well as key business activity figures from China. Economists polled by Reuters expect the BOJ will hold rates at 0.25%, although the statement will be parsed for any clues on the timing of its next rate hike. In China, the National Bureau of Statistics is set to release the country's official purchasing managers index numbers for September, with the manufacturing PMI forecast to come in at 49.9, a softer contraction than the 49.8 the month before. Still, that would be the sixth straight month of contraction for the country's manufacturing sector.

Persons: Kazuo Ueda Organizations: Bank of Japan, Bank of, Reuters, National Bureau, Statistics Locations: Tokyo, Japan Asia, Pacific, China

☆ 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

☆ Meta is 'best early GenAI winner': Analysts stick by tech giant despite spending concerns
▼ + stars: | 2024-10-31 | by ( Pia Singh | In | ) www.cnbc.com time to read: +4 min

Analysts think there's still room for Meta shares to run, even after the company posted disappointing metrics in its latest quarterly report . Wall Street majors are largely optimistic on Meta over the next year, with most firms assigning a price target that implies at least 5% upside. META remains best early GenAI winner in the group," Morgan Stanley analyst Brian Nowak wrote in a note to clients. Shmulik has a price target on the high range of the Street. "We're constructive on the core business, we believe Meta can continue delivering revenue growth above expectations."

Persons: Bernstein, Goldman Sachs, Morgan Stanley, Brian Nowak, " Nowak, Deutsche Bank's Benjamin Black, Mark Shmulik, Shmulik, Meta Organizations: Meta, Facebook, Wall, Lab, Reality Labs, Bank of America, Barclays, Citi, Deutche, Deutsche, — Locations: U.S

☆ China's factory activity expands for the first time since April, official survey shows
▼ + stars: | 2024-10-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's official purchasing managers' index for October came in at 50.1, in expansionary territory for the first time since April, according to National Bureau of Statistics data released Thursday. The last time the PMI was above the 50-point line that determines contraction from activity was in April, with a reading of 50.4. Raw materials inventory ticked up to 48.2, still in contraction territory, along with employment at 48.4, which was mildly better than the prior month. The statistics bureau's PMI for non-manufacturing activity rose to 50.2 in October. The employment portion of the non-manufacturing PMI climbed by 1.1 percentage points to 45.8.

Organizations: BEIJING, National Bureau, Statistics, PMI

☆ Apple stuck it to the naysayers with better-than-feared financials, emerging iPhone 16 demand
▼ + stars: | 2024-10-31 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

While the hardware sales are certainly profitable, they pale in comparison to the profitability of Apple's Services. It's impossible to do consistently, and that's why Jim Cramer always says "own, don't trade" Apple stock. During the reported quarter, Apple returned over $29 billion to shareholders, including $3.8 billion in dividends and equivalents and another $25 billion via the repurchase of 112 million shares. Though Services sales missed the mark, gross income managed to outpace expectations thanks to significant year-over-year margin expansion. The growing installed base of active devices is of course translating into strong engagement with Apple's services.

Persons: Luca Maestri, that's, Jim Cramer, Time Cook, Apple, we're, Maestri, Jim Cramer's, Jim, Michael M Organizations: Apple, Samsung, Dell, HP Inc, of Asia, of Asia Pacific, Mac, Apple Watch, Apple Intelligence, Apple's Services, iOS, CNBC, Fifth, Santiago, Getty Locations: Apple's, Americas, Europe, Asia Pacific, Japan, Greater China, iPhones, Kantar, U.S, China, Australia, New York City

☆ 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

☆ Inflation cooled even further last month, likely solidifying more rate cuts
▼ + stars: | 2024-10-31 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

CNN —Inflation has slowed further and is just a hair’s breadth from the Federal Reserve’s 2% target. The Personal Consumption Expenditures price index, which is the Fed’s preferred inflation gauge, showed prices rose 2.1% for the year ended in September, a slowdown from 2.3% in August, according to Commerce Department data released Thursday. The annual increase, which marks a fresh three-and-a-half-year low, fell right in line with what economists were expecting, according to FactSet consensus estimates. However, falling gas prices helped to keep the lid on any gains. Many states are seeing gas prices below $3 a gallon, a trend that’s expected to continue in the coming weeks as global supply eclipses demand.

Persons: ” Olu Sonola Organizations: CNN, Inflation, Commerce Department, Federal Reserve, Fitch

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