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Morgan Stanley CEO Ted Pick on Thursday expressed optimism about the stock market, saying that the U.S. economy will continue to outperform in 2025. "The world is still led by the U.S. consumer," Pick told CNBC's "Squawk Box Asia" from the Morgan Stanley summit in Singapore. He does acknowledge there will be some caution, due to factors including policy uncertainty, but "on the whole, people are are understandably continuing to be constructive." Pick said Morgan Stanley predicts that the broad-based S&P 500 will increase, pointing out that sectors like financials and industrials could perform with continued economic growth and some deregulation. The S&P 500 has gained just over 24% year to date, while the Dow Jones Industrial Average has seen a 15.13% climb.
Persons: Morgan Stanley, Ted Pick, Pick, CNBC's, industrials Organizations: Dow Jones Locations: U.S, Singapore
Wall Street's optimistic tone since Donald Trump secured a return to the White House could have outsized benefits for a handful of stocks that typically gain when sentiment is bullish, according to Piper Sandler. "By many metrics, bullish sentiment is at an extreme," Michael Kantrowitz, Piper Sandler's chief investment strategist and head of portfolio strategy, wrote in a Tuesday note. Against this backdrop, Piper Sandler screened for stocks that are most sensitive to bullish sentiment. Garmin is another stock that historically performs well when market sentiment is high, registering gains 62% of the time. GRMN YTD mountain Garmin stock has gained nearly 60% in 2024.
Persons: Donald Trump, Piper Sandler, Stocks, Michael Kantrowitz, Piper, Uber, Trump, FactSet Organizations: Investors, Uber Technologies, Garmin, Materials, Micron Technology
Silverman discussed her copyright infringement lawsuit against OpenAI, which owns ChatGPT. Comedian Sarah Silverman opened up about her copyright infringement lawsuit against Sam Altman's OpenAI, which owns the artificial intelligence chatbot ChatGPT. The lawsuit's defendants include OpenAI, L.P. and OpenAI GP, L.L.C, among other entities. The plaintiffs originally sued OpenAI for direct copyright infringement, vicarious copyright infringement, violating The Digital Millennium Copyright Act, unjust enrichment, violating the California and common law unfair competition laws, and negligence. The judge dismissed all the claims except direct copyright infringement and unfair competition, prompting the plaintiffs to file an amended lawsuit in March.
Persons: Sarah Silverman, Rob Lowe's, Silverman, Sam Altman's OpenAI, ChatGPT, Rob Lowe, OpenAI, Sam Altman, Nehisi Coates, Laura Lippman, Paul Tremblay, Jason Redmond, It's, Lowe, that's Organizations: Rob Lowe's Sirius XM, OpenAI, Microsoft, Court, Northern District of, Northern District of California San Francisco Division, Business, Copyright Locations: Northern District, Northern District of California, AFP, California
AdvertisementDon Saladino, a celebrity trainer, eats five nutritionally balanced meals a day. Related VideoA celebrity personal trainer, Saladino thrives on eating and training to optimize his health, performance, and physique. Saladino has annual body scans and tests to see how his body responds to changes in his diet, training, or lifestyle. AdvertisementThis means that Saladino's diet and training are both structured, and he is continually pushing himself, he said. One major benefit of tracking his food intake is that it ensures he eats enough, Saladino said.
Persons: Don Saladino, Saladino, Ryan Reynolds, Blake Lively, Peter Hurley Saladino, Cindy Ord Organizations: Rice, Getty Locations: New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFrom debt point of view, we are seeing attractive spread levels globally: J.P. Morgan's ReschkeMatthias Reschke, J.P Morgan's head of European investment grade finance, discusses the debt and credit landscape ahead of J.P. Morgan's inaugural European Financials Conference.
Persons: Morgan's Reschke Matthias Reschke, J.P Organizations: Morgan's, Financials Conference Locations: J.P
Here’s five things to know for Week 12:Your Super Bowl favorite: the Detroit LionsFor the first time ever, the Detroit Lions are the favorites to win the Super Bowl. The games are obviously very hard always and tough to win and just rewind a week ago at Houston, how hard that win was. Head coach Kyle Shanahan was asked if there is anything to the Super Bowl hangover and said: “I don’t think there is an answer about a journey or Super Bowl hangover. The 49ers suffered their fifth loss of the season in Week 11 at the hands of Geno Smith (right) and the Seattle Seahawks. Steelers QB Russell Wilson has previously won a Super Bowl during his time with the Seahawks and lost in another.
Persons: oddsmakers, Jared Goff, Goff, , , we’ve, It’s, David Reginek, Geno Smith scampered, Kyle Shanahan, Geno Smith, David Gonzales, Patrick Mahomes, Mahomes, ” Mahomes, won’t, Isiah Pacheco, – they’ve, Bryce Young, Chris Boswell, Russell Wilson, ” Wilson, it’s, I’ve, Harbaugh, John, Jim Harbaugh, Jim, Organizations: CNN, Fantasy, NFL, Atlanta Falcons, Buffalo Bills, Cincinnati Bengals, Jacksonville Jaguars, New, New Orleans Saints, New York Jets, Detroit Lions, Lions, Kansas City Chiefs, NFC, Houston Texans, Indianapolis Colts, Sunday, Jaguars, Reuters, San Francisco 49ers, Seattle Seahawks, Niners, 49ers, Green Bay Packers, Bills, USA, Reuters Chiefs, Chiefs, Kansas, Carolina Panthers, Panthers, Steelers, Bengals, Baltimore Ravens, Pittsburgh Steelers, Ravens, Baltimore, Browns, Football, Pittsburgh, Seahawks, Seattle, Jim’s Niners, Chargers, AFC, Cleveland Browns, Minnesota Vikings, Chicago Bears, Tennessee Titans, . Houston Texans –, New England Patriots, . Miami Dolphins –, Tampa Bay Buccaneers, . New York Giants, Dallas Cowboys, . Washington, Denver Broncos, Las Vegas Raiders, Arizona Cardinals, Seattle Seahawks –, Philadelphia Eagles, Los Angeles Rams, Los Angeles Chargers Locations: New Orleans, Detroit, Houston, Wisconsin, Buffalo, Kansas City, Carolina, Cleveland, Pittsburgh
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Nvidia's "biggest problem is allocation," Jim Cramer said, referring to the supply crunch for its next-gen Blackwell chips. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Blackwell, Jim, there's, Deere, There's, Stocks, Jim Cramer's, PANW, DOV Organizations: CNBC, Dow Jones, Nasdaq, Nvidia, Club, Deere, Palo Alto Networks, Palo, Blackwell, Electrical, Eaton, BJ's Wholesale Locations: Palo Alto, Dover
There's no denying how important Nvidia is to the stock market. Stock futures followed Nvidia's lead, riding slight losses at the time. In that time, stock futures recovered their earlier losses and were last up around 0.5%. Many firms lifted their price targets on the chipmaker, including Citi, Wells Fargo and Bernstein . Elsewhere Thursday morning on Wall Street, Wells Fargo initiated GE Vernova as overweight, citing growing power demand from artificial intelligence.
Persons: Nvidia's, Wells Fargo, Bernstein Organizations: Nvidia, Barclays, Bank of America, Citi, GE Vernova Locations: Wells Fargo
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia's earnings visibility makes it a 'safe haven' relative to the rest of the S&P 500: CitiScott Chronert of Citi says Nvidia's strong growth projections has made it 'just another stock'.
Persons: Citi Scott Chronert Organizations: Citi
CNN —A volcano near Iceland’s capital erupted on Wednesday night, becoming the seventh such event in the area since December. The length of the fissure on the volcano, located in Iceland’s Reykjanes Peninsula in the southwest of the country, is estimated to be approximately 3 kilometers (1.9 miles), according to the Icelandic Met Office. A new volcanic eruption that started on the Reykjanes Peninsula in Iceland, Wednesday, Nov.20, 2024. A geothermal power plant and the two hotels at the world-famous Blue Lagoon were evacuated. The Blue Lagoon has been repeatedly forced to close due to volcanic activity over the past year.
Persons: Marco di Marco, Snorri Valsson Organizations: CNN, Icelandic Met Office, AP, Icelandic Tourist Board Locations: Iceland’s, Iceland’s Reykjanes, Iceland, Grindavík, Reykjanes, North America, Europe
A federal grand jury on Wednesday indicted Phillips 66 on charges of violating the Clean Water Act by dumping nearly 800,000 gallons of contaminated wastewater into the Los Angeles County sewer system and failing to report the incident to authorities. The Houston-based oil company was charged with releasing wastewater that contained excessive amounts of oil and grease from a refinery in Carson, Calif., in 2020 and 2021, the Justice Department said Thursday. “Protecting our environment is key to protecting our community,” Martin Estrada, the U.S. attorney for the Central District of California, said in a statement. “Just like the rest of us, corporations have a duty to follow the law, so when companies contaminate, they must be held accountable.”The Justice Department charged Phillips 66 with two counts of negligently violating the Clean Water Act and four counts of knowingly violating the act. The company faces up to five years of probation on each count and a maximum of $2.4 million in fines.
Persons: Phillips, ” Martin Estrada, Organizations: Justice Department, Central, Central District of Locations: Angeles, Houston, Carson , Calif, U.S, Central District, Central District of California
Here's why dollar stores are hurting
  + stars: | 2024-11-21 | by ( Ryan Baker | Tala Hadavi | Melissa Repko | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why dollar stores are hurtingThe dollar store industry has historically done well when the consumer was under pressure. And so, in the decade that followed the Great Recession, Dollar General and Dollar Tree outperformed the S&P 500. But the current economic environment is playing out differently as both companies face competition in e-commerce and have been burdened with a number of operational challenges. Watch the video to find out why the share price of both stocks have plunged more than 50% in the past couple of years.
This booming period marked by strong economic growth and robust market returns could extend into 2025, according to UBS, which is calling for the S & P 500 to rise as high as 7,000 in its most optimistic, bullish case. "The market and economic developments have led some to term the decade so far as the 'Roaring 20s,' marked by high economic growth, strong market returns, and improving productivity," Mark Haefele, UBS Global Wealth Management chief investment officer, said in a note to clients. .SPX YTD mountain S & P 500 The Wall Street bank set its base case of a 6,600 S & P 500 target for 2025, or about 10% upside from current prices. For its bull case, the equity benchmark could climb to 7,000 by year end 2025, a 16% gain from current levels. The S & P 500 appears set to wrap up a strong 2024 with a bang, thanks to optimism toward President-elect Donald Trump 's market-friendly policies.
Persons: Mark Haefele, Donald Trump, Haefele Organizations: UBS, UBS Global Wealth Management
The stock market has always pulled back when valuations are stretched as they are now, according to Deutsche Bank macro strategist Henry Allen in a note to clients this week. "[T]urning points can happen quickly, and … when valuations are stretched to start with, there can be limited scope for further gains," Allen noted. "[E]xamples of high returns through history have often been followed by sizeable reversals." The bank cited lofty current readings in the Cyclically Adjusted Price-to-Earnings (CAPE) ratio developed by economist Robert Shiller, arguing that "the CAPE ratio for the S&P 500 has only been higher on two other occasions in the last century" than it is today. "Indeed, on both the occasions the CAPE ratio has got as high as it is today, there was then a significant correction."
Persons: Henry Allen, Allen, Robert Shiller, — Scott Schnipper Organizations: Deutsche Bank
AdvertisementThere's been a $30 million offer on Sean Combs' Los Angeles mansion. The lowball offer comes from the same real estate investor who purchased Kanye West's Malibu house. AdvertisementThe mansion is in one of Los Angeles' richest neighborhoods, known for its proximity to Beverly Hills and large lots. Luxury real estate in Los Angeles is currently experiencing a major slump, Beverly Hills agent Rochelle Atlas Maize told BI. Maize, who was personally shopping for homes in Los Angeles at the time, said she wouldn't step foot near it.
Persons: Sean Combs, Sean, Diddy, Combs, Bo Belmont, Shou Zi Chew, Belmont, Rochelle Atlas, Belwood, starchitect Tadao Ando, Menendez, Ryan Murphy's, it's, It's Organizations: feds, Kanye, Belwood Investments, Business, Beverly, Rochelle Atlas Maize, Ryan Murphy's Netflix Locations: Los Angeles, Los, Singapore, Beverly Hills, Rochelle, Malibu, Beverly Flats
The latest trend has users touting the benefits of putting castor oil in your belly button before bed. The only approved use of castor oil for health reasons by the U.S. Food and Drug Administration is to ingest the oil orally for constipation relief. Castor oil has omega-6 and omega-9 fatty acids so it can provide calming, parasympathetic effects from navel pulling, she notes. After using castor oil in this way, some TikTok users did claim it caused frequent bowel movements. "When you're using the castor oil on the navel, you're improving [the movement] of toxins.
Persons: Pocus, Raven Ross, Gowri Rocco, it's, Rocco, It's Organizations: U.S . Food, Drug Administration Locations: TikTok
Starting overThe couple, pictured at a friend's party in Malaga, also considered moving to Singapore, but decided on Spain due to its closer proximity to the United States. Gail and Greg WarnerThey’d originally planned to leave the United States in December 2018. The couple quickly put their Florida home on the market and set about winding down their lives in the United States. Now that they’ve lived outside of the US for so long, the couple say they can’t imagine ever moving back, and feel as though they were often on a “hamster wheel” before. Just go with it.’”Gail and Greg couldn’t be happier with their new lives, but the couple do have one regret about leaving the United States and starting over in Spain.
Persons: Gail, Greg Warner, they’re, ’ ”, Beau, Gail Warner “, , Greg, who’ve, ” Greg, , ” “ We’d, Greg Warner They’d, Guess I’m, I’ve, ” Gail, she’d, ’ ” Greg, he’s, Sergio, they’ve, “ I’m, Betty Rivas “, United States “, ’ ” Gail, Greg couldn’t Organizations: CNN, EU, , Malaga City Locations: United States, Florida, Chicago, Singapore, Spain, Europe, Spanish, Valencia, Indiana, Malaga, Canada, France, States, Costa del Sol, Southern Spain, Andalucía, Slovenia
VIENTIANE, Laos — Women and racial diversity are vital to the strength of U.S. armed forces, outgoing Defense Secretary Lloyd Austin said in an exclusive interview with NBC News as he prepares to shortly exit the top military post after four years. “I would tell you that, you know, our women are the finest troops in the world. Our military is going to remain a diverse military," Austin said. Austin did not weigh in on what he thinks about Trump's choice of Hegseth to lead the Department of Defense. Austin, a four-star general who was previously commander of U.S. Central Command, was appointed as Secretary of Defense by President Joe Biden and was sworn in on Jan. 22, 2021.
Persons: Lloyd Austin, , ” Austin, Donald Trump’s, Pete Hegseth, Hegseth, , Austin, Trump, Biden, Vladimir Putin, , we've, Joe Biden, Lester Holt Organizations: NBC News, Defense, Army National Guard, Pentagon, Senate, Republicans, Department of Defense, ., Korean, U.S . Central Command, NBC Locations: VIENTIANE, Laos, Iraq, Afghanistan, United States, Ukraine, Russia, U.S, Russia's Kursk, Jan
WASHINGTON — Members of the House Ethics Committee will meet behind closed doors Wednesday afternoon to discuss whether to publicly release a report detailing their sweeping investigation into former Rep. Matt Gaetz, President-elect Donald Trump’s pick for attorney general. Several Republicans and Democrats in the Senate have said they want to review the House report before a Judiciary Committee confirmation hearing for Gaetz next year. She argued that there is precedent for the Ethics Committee to publish reports after members of Congress have resigned. If the committee declines to make the Gaetz report public, any House member can try to force a vote to release it. In September 1996, House Democrats tried to force the Ethics Committee to release a report from an outside counsel about its investigation of then-Speaker Newt Gingrich, R-Ga.
Persons: Matt Gaetz, Donald Trump’s, Gaetz, Mike Johnson, Trump, “ I’ve, ” Johnson, “ Matt Gaetz, , Michael Guest, Susan Wild, Joel Leppard, Leppard, , JD Vance, Pete Hegseth, Bill Boner, Boner, Boner’s, Buz Lukens, Newt Gingrich Organizations: WASHINGTON, Republicans, Democrats, Justice Department, NBC News, Trump, Capitol, Cabinet, Senate, Congress, , Committee Locations: Florida, Nashville, Ohio
An NYPD officer and another woman were shot in Queens by an armed robbery suspect who was believed to be responsible for multiple robberies within the span of just about an hour, according to police. As police searched for the suspect, officers were flagged down by a witness who pointed out a man on Jamaica Avenue and 160th Street. The witness told police the man had just robbed a smoke shop on Guy Brewer Boulevard, and fired a shot while doing so, according to NYPD Chief of Detectives Joe Kenny. After being ordered to drop his weapon, the suspect fired once, hitting Officer Rich Wong in the thigh, Kenny said at a press conference from the hospital. Worthy, who had been arrested for seven crimes since 2001, was also wanted for three other robberies at gunpoint, according to police.
Persons: Guy Brewer, Joe Kenny, Rich Wong, Kenny, Wong, Gary Worthy, Eric Adams, Worth, Worthy Organizations: NYPD, Jamaica Hospital Locations: Queens, Hillside, Jamaica
A Florida man arrested on suspicion of weapons violations on Halloween had a list of targets that included a congressman and locations he associated with Jewish and Black people, prosecutors allege. The Federal Public Defender of South Florida did not immediately respond to a request for comment. A customary walk-through of the home turned up evidence of firearms, including spent shell casings and a homemade target, Anton said. The alleged list of targets includes Rep. Jared Moskowitz, D-Fla., as well as locations the writer of the list characterized as draws for Jewish and Black people — a synagogue, a Jewish cemetery, a Jewish sandwich shop and parks and schools that were described using a derogatory term for Black people, according to Anton's filing. One entry on the list said, "Stalk Jewish parks," the proffer said.
Persons: John Lapinski, Lapinski, Marc Anton, Anton, silencers, Jared Moskowitz, Moskowitz Organizations: Federal, Defender, Police, Assistant U.S, Palmetto State Armory Liberty, Palmetto State Armory, Black, Jewish, U.S . Marshals Service Locations: Florida, South Florida, Margate, Miami, Broward County , Florida
CNN —Lady Gaga is returning to the desert to mark her second appearance as the headliner for Southern California’s signature Coachella Valley Music and Arts Festival. The Oscar-winner was announced as one of the three top headliners on Wednesday, according to the festival’s website, with Green Day and Post Malone rounding out the trio. Gaga will be the Friday headliner at the two-weekend fest, with Green Day headlining on Saturday and Malone serving as the Sunday headlining act. Rapper Travis Scott will also be appearing at the festival to perform a career retrospective set, according to Goldenvoice, the festival’s organizer. Gaga notoriously headlined the music festival in 2017 after Beyoncé – then pregnant with her twins Sir and Rumi – dropped out as that year’s original headliner, per doctor’s orders.
Persons: Gaga, Malone, Travis Scott, Goldenvoice, Charli XCX, Missy Elliot, Megan Thee Stallion, Benson Boone, Lisa, Shaboozey, Beyoncé –, Rumi –, Beyoncé, , , Presale Organizations: CNN, Southern, Music, Arts Festival, Green, Polo Club – Locations: Indio’s
Microsoft emerged as the most under-owned megacap stock among institutional investors, signaling a rebound could be on the horizon, according to Morgan Stanley. Morgan Stanley thinks that stocks tend to experience a technical pull higher when active ownership is much lower than their weightings in the S & P 500, and vice versa. The gap between Microsoft's S & P 500 weighting and institutional ownership stood at 2.08% by the end of the third quarter, making it the most under-owned Big Tech name, Morgan Stanley said. After Microsoft, Apple is the second-most under-owned megacap tech stock coming out of the third quarter. On the flip side, the most over-owned tech stock at the end of September is software company Intuit , which could see a technical downward pull soon, according to Morgan Stanley.
Persons: Morgan Stanley, Donald Trump Organizations: Microsoft, Big Tech, Apple, Intuit, Adobe
AdvertisementPristina Mok has worked at some of Singapore's top Michelin-star restaurants like Odette and Zen. After a few years at Odette, she worked at Zen, a three-Michelin-star restaurant serving Nordic dishes with Asian influences. Fine dining, apartment-styleMok's cozy fine dining restaurant seats eight guests three times a week. Aditi BharadeUpon entering Fragment, guests are often greeted by Pebble, Mok's poodle. AdvertisementScaling down has its drawbacksWhile her husband helps her plate and serve the dishes, Mok handles most of the workload.
Persons: Pristina Mok, Odette, Aditi Bharade, Mok, Lionel Lim, Aditi Bharade Mok, , hadn't Organizations: Michelin, National Gallery of Singapore, Zen, Raffles Locations: Pristina, Mok's, Hokkaido
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin hits new record near $95,000 as investors monitor Trump transition: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Andrew O'Neill of S&P Global Ratings discusses how crypto policy changes under Trump could affect crypto prices.
Persons: explainers, Andrew O'Neill of S Organizations: Trump, CNBC Crypto, CNBC
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