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In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMorgan Creek Capital's Mark Yusko explains why Nvidia makes him nervousMark Yusko, Morgan Creek Capital Management CEO & CIO, joins ‘Fast Money’ to discuss Nvidia as the world's largest publicly traded company by market cap is set to report earnings next week.
Persons: Mark Yusko Organizations: Nvidia, Morgan Creek Capital Management Locations: Morgan Creek
Reports that billionaire Elon Musk has held multiple calls with Russian officials, including President Vladimir Putin, should be investigated by the Pentagon and law-enforcement agencies on national-security grounds, two senior Democratic senators said in a letter seen by Reuters on Friday. Musk, who has been appointed to a senior government role by Republican President-elect Donald Trump, oversees billions of dollars in Pentagon and intelligence-community contracts as CEO of aerospace company SpaceX. Several Democratic lawmakers have publicly called for a probe into Musk's communications with Moscow since a Wall Street Journal report last month on the alleged contact, but the letter to the U.S. officials who could launch such an investigation has not been previously reported. SpaceX, Musk and the Pentagon did not immediately respond to requests for comment. The Pentagon and Justice Department did not immediately respond to similar requests.
Persons: Elon Musk, Donald Trump, Vladimir Putin, Musk, Jeanne Shaheen, Jack Reed, General Merrick Garland, Shaheen, Reed, Trump Organizations: Republican, Pentagon, Democratic, Reuters, SpaceX, Foreign Relations, Senate Armed Services, U.S, White, of Government Efficiency, Justice Locations: Butler , Pennsylvania, Moscow
President-elect Donald Trump's White House victory could boost merger and acquisition activity, and Bank of America thinks a group of small-cap stocks may benefit as target candidates. Financial services company Bread Financial Holdings turned up, having a float of 98% of shares outstanding and three-year sales growth of 28%. The biopharmaceutical company has a float of 99% and three-year sales growth of 105%. Commercial Metals Company also showd up on BofA's screen as a potential target. Commercial Metal's three-year sales growth was 18%.
Persons: Donald Trump's, Russell, that's, Lina Khan, Jill Carey, Irving, steelmaker Organizations: Bank of America, Dow Jones Industrial, Republican, House, Senate, Trump, FTC, GOP, Financial, Bread Financial Holdings, Halozyme Therapeutics, Commercial Metals Company Locations: Columbus , Ohio, Diego, Texas
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market still has 'plenty of room to run,' says Commerce Street's Dory WileyDory Wiley, president and CEO of Commerce Street Holdings, joins CNBC's 'Power Lunch' to discuss why the post-election rally still has legs, the case for small cap banks, and more.
Persons: Dory Wiley Dory Wiley Organizations: Commerce Street Holdings
Elon Musk's Trump bump keeps growing
  + stars: | 2024-11-15 | by ( Jordan Hart | ) www.businessinsider.com   time to read: +1 min
AdvertisementElon Musk's businesses are thriving from his relationship with Trump, boosting his net worth. Musk's AI startup xAI is raising $5 billion, while SpaceX plans a share tender offer, the FT reported. Elon Musk's businesses are booming and that appears to be at least in part the result of his deepening relationship to the now president-elect, Donald Trump. Musk's AI startup xAI is now raising $5 billion in funding, the Financial Times reported. Trump's granddaughter, Kai Trump, said Musk was "achieving uncle status" in an X post on Sunday.
Persons: Trump, Donald Trump, xAI, Musk, Kamala Harris, Vivek Ramaswamy, Ramaswamy, Kai Trump Organizations: Elon, SpaceX, Financial Times, Trump, of Government Locations: Tesla
Gold traded little changed on Friday, but was set for its worst week in more than three years, hurt by a stronger U.S. dollar amid expectations of fewer Federal Reserve rate cuts. Spot gold rose 0.1% to $2,569.69 per ounce by 0308 GMT after a five-session slide. Fed Chair Jerome Powell said on Thursday steady economic growth, a strong job market, and persistent inflation justify caution in cutting rates quickly. With a quiet U.S. calendar next week, gold could rebound, potentially retesting $2,600 level, Simpson said. Spot silver rose 0.2% to $30.52 per ounce, platinum edged up 0.1% to $940.68 and palladium added 0.5% to $946.00.
Persons: Gold, Donald Trump's, Fawad, Jerome Powell, Trump, Matt Simpson, Simpson Organizations: U.S ., Trump, Forex.com
"Tesla, I think, is going to be worth $3 [trillion] or $4 trillion — $5 trillion in 10 years, based upon the business plan that I am aware of. Then Elon believes that longer term it's going to be worth $30 trillion," Baron said Friday on CNBC's " Squawk Box ." TSLA ALL mountain Tesla Tesla is seen as a big beneficiary of promised Trump administration policies as Musk has this year been a prominent backer and donor to the president-elect. Shares of Tesla have surged about 25% in November during the postelection rally to return to a $1 trillion market cap. Baron said he will hold on to his Tesla shares for the long run.
Persons: Ron Baron, Tesla, Elon Musk, Elon, Baron, Trump, Musk, Vivek Ramaswamy Organizations: Nvidia, Apple, Microsoft, EV, Republican, Tesla, Optimus Locations: U.S, Tesla
The sewage is exposed to the air and causes a lot of nausea and headaches,” said Veronica Isabel Dahlberg, executive director of HOLA Ohio, a nonprofit group assisting Latino state residents, which has advised mobile home park residents who sued. It is very expensive,” said Yvonne Maldonado, a co-director of Manufactured Housing Action, a nonprofit group that focuses on such communities. “We have recently seen private equity enter the manufactured housing market," PESP housing research coordinator Madeline Bankson said. During hurricanes, the National Weather Service has said, 72% of deaths occur in homes, and of those, 54% occur in mobile homes. She also urged mobile home park residents to organize their communities and if there are complaints, to do it as a group, which is more effective.
Persons: Mariano Jacobo Piñón, , Vicente Hernández, Ricardo Rodríguez, Veronica Isabel Dahlberg, Mariano Jacobo Piñón's, ” Rodríguez, Melissa Solomon, Jones, Patrick J, Condon, Yvonne Maldonado, Maldonado, Ana Eugenia Báez, Báez, Andrea Chiriboga, Flor, Ascentia, Marko Vukovich, ” Vukovich, Esther Sullivan, Eva Marie Uzcategui, Madeline Bankson, Fannie Mae, Freddie Mac, Jeanne Shaheen, Richard Blumenthal, John Fetterman, ” Shaheen, Banks, Juan Pablo Garnham, Garnham Organizations: Fairgrounds United, Perry Mobile Home, Noticias Telemundo, Jones Estates Fairgrounds, Jones Estates Perry LLC, Jones Estates, Department of Housing, Urban, Survey, Residents, People Center, Foxridge, Colorado Mobile, Private, University of Colorado, Home Parks, The Washington, Getty, Prosperity, Federal Housing Administration, , Telemundo, Princeton, National Weather Service Locations: Lake County , Ohio, Mexico, Ohio, Hernández, Lake County, Mobile, U.S, New York, Colorado, Foxridge, Arapahoe County , Colorado, Denver, Sarasota , Fla, Sens
As he has done several times before, Einhorn pointed a finger at passive, index investors: "The passive people, they don't care what the value is." "I view the markets as fundamentally broken," Einhorn said back in February on Barry Ritholtz's "Masters in Business" podcast. "You have these companies, and all they do is they manage these expectations, right?," Einhorn told Picker. This is causing great pain to value investors like Einhorn, many of whom have seen cash flee their funds. Another reason for long-term underperformance by active managers: They are competing against other active managers who have very little competitive edge against each other.
Persons: David Einhorn, Greenlight Capital's David Einhorn, Leslie Picker, Einhorn, It's, Picker, Barry Ritholtz's, Rob Arnott, Arnott, there's, doesn't, RAFI, you'd, I'm Organizations: Greenlight Capital, CNBC Delivering Alpha Investor, Alpha, CNH, Interactive, Cornell grad, Research Affiliates, P Global Locations: New York City, U.S
The U.S. dollar could soon see a sharp reversal from its postelection gains, according to Fundstrat. The dollar index, which measures the U.S. currency's performance against six rival currencies, including the euro and the yen, is up more than 3% since President-elect Donald Trump secured a second term. That move comes as investors assess the potential macroeconomic policies likely coming in a second Trump administration, particularly on tariffs and trade. .DXY YTD mountain Dollar index in 2024 But Mark Newton, technical strategist at Fundstrat, thinks the greenback "stalls out and reverses in the weeks ahead." Bearish seasonal trends: the dollar has "historically reversed sharp rallies into November, and December stands out as the most bearish month of the year" for the dollar index, the strategist said.
Persons: Donald Trump, Trump, Mark Newton, Newton, Piper Sandler, Campbell Organizations: U.S, Trump Locations: China
Overall, the S & P 500 jumped 2.4% since the last monthly meeting, while the Nasdaq and Dow climbed 4.5%, and 2%, respectively. Wells Fargo up 13.9% Ever since the Fed kicked off its monetary easing cycle with a jumbo 50-basis-point rate cut in mid-September, financial names have soared. Wells Fargo, which did take a hit one week ago, posted a record-high close Wednesday. Research analysts at Bank of America, for example, raised their price target on Wells Fargo Monday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: It's, Donald Trump, Dow, Wells Fargo, Morgan Stanley —, Morgan Stanley, Bank of America —, Wells, Trump, dinged, Morgan, Jim Cramer's, Jim Cramer, Jim, Stephani Spindel Organizations: Nasdaq, Big Tech, Club, Microsoft, Trump, Depot, Dow, Wall Street, Jefferies, Bank of America, Meta, Fed, Wall, Research, Wells, Palo Alto Networks, Jim Cramer's Charitable, CNBC, New York Stock Exchange Locations: Wells, BlackRock, CrowdStrike, Wells Fargo, Amazon, American, Manhattan, New York City, U.S
Campbell Soup has a promising long-term growth outlook thanks to Rao's, its popular sauces brand, according to Piper Sandler. The company completed its acquisition of Rao's parent company Sovos Brands earlier this year for approximately $2.7 billion. The stock is also down more than 10% over the past three months, indicating a good entry point for investors, the analyst added. "Continued strong growth [is] expected" for the Rao's brand, he added. Lavery added that potential steel tariffs under President-elect Donald Trump's second administration could present headwinds to Campbell Soup, which uses steel for its soup cans.
Persons: Campbell, Piper Sandler, Michael Lavery, Lavery, Donald Trump's Organizations: Sovos Brands Locations: Italy
Small-cap stocks could see a monster rally ahead if they break above a key level. The Russell 2000 hit a high of 2,441.72 on Monday, just a hair below the November 2021 closing high of 2,442.74 before pulling back Tuesday and Wednesday. Small caps have been on a tear since the presidential election last week, after Donald Trump secured a second term. The Russell 2000 is up about 4.5% since the election, outperforming its large-cap counterparts. .RUT 5Y bar Russell 2000 less than 1% from record The technical strategist noted that move may not happen immediately.
Persons: Russell, Wolfe, Rob Ginsberg, Donald Trump, Yun Li Organizations: Wolfe Research, Dow Jones, Nasdaq
He also increased his stake in JD.com by 8.2 million shares, or 33,490%, and PDD Holdings by roughly 2.28 million shares, or 741%. Laffont also created new positions in iShares China Large-Cap ETF and KraneShares CSI China Internet ETF . Laffont also made a couple of significant increases to the fund's holdings in Eli Lilly and Novo Nordisk . Facebook parent Meta still remains the fund's largest holding, while Amazon, Microsoft and Nvidia remain in the fund's top 10. The filing also showed increased bets on Eaton Corporation, a name closely tied to the artificial intelligence-related energy infrastructure boom, as well as Constellation Energy and NextEra Energy .
Persons: Philippe Laffont's Coatue, Julian Robertson, Laffont, Donald Trump's, Xi Jinping, Eli Lilly Organizations: Philippe Laffont's Coatue Management, U.S . Securities, Exchange Commission, Tiger Management, PDD Holdings, KraneShares CSI China Internet, Novo Nordisk, Novo Nordisk's ADRs, Broadcom, Microsoft, Nvidia, chipmakers Qualcomm, Devices, Taiwan Semiconductor, Facebook, Amazon, Eaton Corporation, Constellation Energy, NextEra Energy Locations: Alibaba, JD.com, iShares China, China, Novo, chipmakers
Third Point slashed and dissolved its stakes in some key megacap technology holdings, while opening a fresh position in Tesla during the third quarter. Regulatory filings released Thursday revealed that the Dan Loeb-run hedge fund opened a stake worth roughly $105 million in the electric vehicle behemoth during the period. Tesla shares rallied more than 32% during the period, and they have surged more than 24% in November as investors bet that the company will benefit from CEO Elon Musk's close relationship with President-elect Donald Trump . MSFT YTD mountain Apple shares this year Beyond these key Magnificent Seven players, Loeb liquidated positions in both Verizon Communications and ridesharing giant Uber Technologies . Along with Tesla, Loeb revealed a new position in Brookfield Corp worth about $251 million and fresh stakes in Flutter Entertainment and CVS Health .
Persons: Dan Loeb, Elon Musk's, Donald Trump, Tesla, Loeb Organizations: Tesla, Microsoft, Meta, Apple, Verizon Communications, Uber Technologies, Brookfield Corp, CVS Health, Intercontinental Exchange Locations: China
Here's a rapid-fire update on all the stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. This time around, Trump's tariff proposals on Chinese imports could help Amazon in its competition against low-price online sellers Temu and Shein. Salesforce : Not a Trump stock, but it wasn't a Kamala Harris stock either. Constellation Brands : The Mexican beer importer has been punished on fears about what Trump's tariff and immigration proposals could do to its business. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jim Cramer's, Jim, Donald Trump's, Trump's, Abbott, Trump, Hock Tan, Tan, We'll, it's pricier, Morgan Stanley, Wells, Kamala Harris, Agentforce, That's, Biden, Dover, Eaton's, Elon, Waymo, JD Vance, we've, Linde, that's, Eli Lilly, Robert F, Kennedy Jr, Kennedy, Lilly, Mark Zuckerberg, Zuckerberg, Goldman Sachs, shouldn't, Nextracker, Brian Niccol, Niccol, Stanley Black, Decker, TJ Maxx, Wells Fargo, Jim Cramer Organizations: Jim Cramer's Charitable Trust, CNBC, Abbott Laboratories, Abbott Labs, White, Biden, AMD, Trump, Wednesday, Broadcom, VMWare, BlackRock, Costco, Coterra Energy, Coterra, DuPont, Disney, GE Healthcare, GE Aerospace, Google, Honeywell, Elliott Investment Management, Linde, Microsoft, Big Tech, Apple, Meta, Financial Times, Nvidia, Palo Alto Networks, Yum Brands, Taco Bell, Constellation Brands, Management, TJX, Marshalls, Jim Cramer's Charitable Locations: China, India, Missouri, Wells Fargo, BlackRock, Shanghai, Dover, U.S, Palo, HomeGoods
Elon Musk is a showman, not an accountant
  + stars: | 2024-11-14 | by ( Allison Morrow | ) edition.cnn.com   time to read: +6 min
The merch will be 🔥🔥🔥”If you need more evidence of how silly this whole thing is, note (as many commentators did online) that the efficiency department is being overseen by two people. On the campaign trail last month, Musk was asked how much he thought he could cut from the nation’s $6.5 trillion budget. Musk would be lucky to find $200 billion in the federal budget, former Treasury Secretary Larry Summers said at the Economic Club of New York on Tuesday. Even Trump joked to House Republicans on Wednesday that he can’t get rid of Musk, a source in the room told CNN. And that means Musk himself, as Tesla’s largest individual shareholder, is $55 billion richer today than he was a week ago.
Persons: Donald Trump, Elon Musk, , he’s, Vivek Ramaswamy, ” Trump, Elon, Vivek, Trump, Musk, ments on Organizations: New, New York CNN, bro, “ Department, Government, Ford, United Airlines, Republican Congress Locations: New York, le
Inflows are on track to hit the $1 trillion milestone by year-end, as the election acts as a new catalyst, the firm found. ETFs have seen inflows of more than $58 billion since Election Day, according to State Street Global Advisors. State Street's popular SPDR S & P 500 ETF Trust (SPY) has seen more than $12 billion of new money, since the Nov. 5 election. ETF flavors garnering notable flows The ETFs that track indexes have seen the biggest dollar inflows. State Street said its SPDR Galaxy Digital Asset Ecosystem ETF (DECO) has seen inflows increase by 26% since Election Day.
Persons: Todd Rosenbluth, Donald Trump's, Ryan McCormack, McCormack, Anna Paglia, Rosenbluth Organizations: Street Global Advisors, Trust, Trump, Mining
Cryptocurrencies and banks have been on a tear since President-elect Donald Trump's victory last week, and Societe Generale thinks these "Trump trades" have more room to run into January. The firm specifically underscored bank stocks, companies exposed to the reshoring theme, small-cap names and crypto. "Trump trades are in full bloom and should continue to outperform until Inauguration Day, in our view," U.S. chief economist Stephen Gallagher wrote in a Thursday research note. Gallagher is not the only one on Wall Street who thinks the "Trump trade" has more legs. Societe Generale said its Trump 2.0 thematic basket has jumped more than 7% in the week since the election, but it is only up 15% in 2024, compared to the S & P 500 's 25% year-to-date gains.
Persons: Donald Trump's, Stephen Gallagher, Russell, bitcoin, Gallagher, Jason Draho Organizations: Societe Generale, Trump, US, US Banks, SG Global, Wall, UBS Locations: US
Judith Joseph described the current violence and political turmoil in Haiti — a place she calls home — as heartbreaking and devastating. “For me, it’s very emotional.”“The gangs, the gangs, my God,” she said. Haitian National Police officers patrol the area near Toussaint Louverture International Airport in Port-au-Prince, Haiti, on Aug. 12, 2024. Clarens Siffroy / AFP via Getty Images fileA JetBlue flight to New York and an American Airlines flight returning to Miami were also shot on the same day. The flights were shot at on the same day Haiti swore in a new prime minister, adding to the country’s political turmoil.
Persons: Judith Joseph, , ” Joseph, , Prince, Clarens Siffroy, that’s, , Jacques Balynce’s, ” Balynce Organizations: FAA, Spirit Airlines, Haitian National Police, Getty, JetBlue, American Airlines, Angels, Humanity, U.S . State Department Locations: Haiti, Port, Fort Lauderdale, Fla, Toussaint, Prince, AFP, New York, Miami, Cap, U.S, Dominican Republic
The iShares Expanded Tech-Software Sector ETF (IGV) has been getting a lot of attention, and rightly so. Things have recently accelerated in November, and Tuesday, the IGV Software ETF was one of just three ETFs we track to make new all-time highs. Within the IGV Software ETF, it also has the third biggest weighting, but it's behind both CRM and ORCL. More importantly, MSFT has been noticeably lagging the IGV ETF across various time frames. The potential good news is that: 1. the ratio line remains in a long-term uptrend and 2. the last two oversold conditions happened near major relative trading lows.
Persons: IGV, MSFT, it's Organizations: Software Sector, Technology Trust, IGV Software, Microsoft, NASDAQ, Software, CNBC, NBC UNIVERSAL Locations: MSFT
The iShares Russell 2000 ETF (IWM) is particularly interesting for swing traders, as it tends to trade within predictable ranges over extended periods. Given that IWM is trading at the top of the new trading range, I'm considering a bearish trade on IWM. With $242 as the upper bound of the range, I'll sell a $245 call option, just above the current resistance level. The trade As mentioned earlier, the trade structure I am using here is called a "bear call spread," also known as a "call credit spread". To construct my trade, I need to sell a $245 call option and buy a $250 call option as a single unit.
Persons: Russell, IWM, Nishant Pant Organizations: Trump, CNBC, NBC UNIVERSAL
In this article BTC.CM= Follow your favorite stocks CREATE FREE ACCOUNTChesnot | Getty ImagesDogecoin shot higher on Tuesday night, extending its postelection surge after President-elect Donald Trump formally announced the creation of the Department of Government Efficiency, which he referred to as "DOGE" in his statement. Tesla CEO Elon Musk and Vivek Ramaswamy, former Republican presidential candidate and Strive Asset Management co-founder, will lead the department, Trump said in a statement. Stock Chart Icon Stock chart icon Dogecoin jumped after President-elect Donald Trump announced the creation of the Department of Government Efficiency, or "DOGE." Memecoins are seen as a gauge of retail interest and risk appetite in crypto. When memecoin activity ramps up, it usually indicates that retail investors are participating and have an appetite to speculate further out on the risk curve.
Persons: Donald Trump, Elon Musk, Vivek Ramaswamy, Trump, Dogecoin Organizations: Getty, Department of Government, Republican, Management, Administration
Investors looking for opportunities in this elevated market may want to take a look at U.S. small caps, according to Nuveen's Saira Malik. "That's why we're looking at areas that are cheap — small caps trading at that big discount. Malik views small caps as one of the most attractive areas amid a broad rally that's boosted the major indexes and valuations to new highs. "Deregulation is going to make the world an interesting place, because it could open up more M & A activity, which, again, positive for small caps trading at that deep discount to their counterparts," Malik said. The iShares Russell 2000 ETF (IWM) , which tracks the Russell 2000, is up 8% this month.
Persons: Nuveen's Saira Malik, Smalls, Donald Trump's, Kamala Harris, Russell, Trump's, Malik, Nuveen, bode, Trump Organizations: CNBC's Delivering Alpha Conference Locations: U.S
He cited X's increasing compliance with foreign governments' demands to censor content on the platform and the lawsuits against the Center for Countering Digital Hate and Media Matters. X has a pending lawsuit against Media Matters and a pending appeal in a lawsuit that X lost against the Center for Countering Digital Hate. The ACLU, the Electronic Frontier Foundation and the Knight First Amendment Institute at Columbia University filed an amicus brief in support of the Center for Countering Digital Hate. The feud between Musk and the Center for Countering Digital Hate has continued. Rep. Jim Jordan, R-Ohio, also criticized the Center for Countering Digital Hate on Thursday, sending the organization a demand for documents related to the "Kill Musk's Twitter" language.
Persons: Elon Musk, Donald Trump, Anna Moneymaker, Musk, Victoria Nuland, Nadine Strossen, Trump, Strossen, they're, Aaron Terr, Terr, there's, Michael Gerhardt, Chapel Hill, , X, Charles Breyer, Imran Ahmed, Elon, Ahmed, Jim Jordan Organizations: Republican, State Department, Center, American Civil Liberties Union, New York Law School, SpaceX, Justice Department, Foundation, Rights, Hate, Media, NBC News, NBC, Media Matters, University of North, Chapel, Department, The Justice, District, ACLU, Electronic Frontier Foundation, Columbia University, Racket, Federal Government Locations: Butler , Pennsylvania, University of North Carolina, U.S, Ohio
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