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☆ Here are the portfolio's top 5 performing stocks since May's Monthly Meeting
▼ + stars: | 2024-06-27 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

The stock market had another great run since the Club's May Monthly Meeting. Here's our top-five performing portfolio names since the May 30 close through Wednesday's close, the eve of our June Monthly Meeting. AVGO YTD mountain Broadcom (AVGO) year-to-date performance Broadcom took the top spot since the May Monthly Meeting, jumping 16.7% in that timeframe. And on Wednesday, the stock mounted a late-day comeback to close up 0.25% on the day of its annual shareholder meeting. Even with their recent comeback, Salesforce shares are down more than 10% from their close May 29.

Persons: —, We're, It's, Salesforce, Snowflake —, we've, Davidson, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Federal Reserve, Nasdaq, Club, Nvidia, Broadcom, dethroning Club, Microsoft, Tuesday's, Apple Intelligence, Apple, Rosenblatt Securities, Networks, Palo Alto, CNBC, Traders, New York Stock Exchange Locations: Wednesday's, China, Palo, New York City

☆ How is Amazon hurting Walgreens' business? Jim Cramer explains
▼ + stars: | 2024-06-27 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

After Walgreens reported a disappointing quarter on Thursday, CNBC's Jim Cramer told investors why he thinks Amazon is making it hard for the drugstore giant to succeed. "The stock market can be a brutal, brutal, brutal task master. Cramer said Walgreens is more expensive than Amazon and less convenient, adding that there are not enough employees at its stores. He conceded that Walgreens' back-of-store pharmacy business may currently have a slight edge on Amazon. "But they do set out to get the best products with the best values at the most convenient places — the most convenient places meaning your home."

Persons: CNBC's Jim Cramer, Tim Wentworth, Walgreens, Cramer Organizations: Walgreens, Amazon

☆ Stocks are set for a 10% correction amid stagflation and no rate cuts in the 2nd half of 2024, Stifel strategist says
▼ + stars: | 2024-06-27 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The economic outlook also looks precarious, given stubborn inflation and slowing growth. AdvertisementThe stock market looks poised for a correction, and a dicey economic and monetary policy environment could cause equities to dive 10%, according to Stifel's chief stock strategist Barry Bannister. Economic growth has been slowing, with GDP expanding by 1.4% in the first quarter, according to the latest revision. Sticky inflation also weighs on the outlook for Fed rate cuts, which poses more bad news for stocks. AdvertisementOther investing veterans have warned stocks are due for a comedown amid lofty valuations.

Persons: Stifel's Barry Bannister, —, Barry Bannister, Bannister —, Bannister, that's, John Hussman Organizations: Service, Yahoo Finance, Fed

☆ Retail traders came out in force to buy the recent dip in AI darling Nvidia
▼ + stars: | 2024-06-27 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Retailer traders took Nvidia' s recent sell-off as a buying opportunity, snapping up shares of the dominant artificial intelligence chipmaker amid the volatility. The cohort bought $1.8 billion worth of Nvidia shares over the past week as the Jensen Huang-led company suffered a quick pullback, according to JPMorgan data. JPMorgan estimated that retail investors are up 179% trading Nvidia this year, topping the stock's year-to-date performance. Meanwhile, other megacap tech stocks fared poorly among individual investors last week, JPMorgan said. Advanced Micro Devices saw net sales of $163 million, Microsoft had a net drawdown of $158 million and Tesla $122 million.

Persons: Jensen Huang, Nvidia's Organizations: Nvidia, JPMorgan, Microsoft, Google, Oracle, Meta Locations: U.S

☆ Morgan Stanley says deal-making is returning to Wall Street and gives best stocks to play trend
▼ + stars: | 2024-06-27 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Morgan Stanley sees a comeback in Wall Street deals underway — and expects some financial stocks to reap the benefits. However, Goldman Sachs said sponsor-led mergers and acquisitions do not necessarily need a decrease in interest rates to take off. Stadnik said a capital markets renaissance is one key reason to be overweight money center banks. Of this group, he called Goldman Sachs the "purest play" on this theme. Goldman Sachs shares have climbed more than 15% this year.

Persons: Morgan Stanley, Andrei Stadnik, Stadnik, Morgan Stanley's, Goldman Sachs, Blackstone, Morgan, LSEG Organizations: Wall Street, JPMorgan, LSEG Locations: U.S

☆ EToro surveyed 10,000 retail investors to see what's in their portfolios. Here's the breakdown of how they're betting on cash, crypto, and their top 3 stock-market sectors.
▼ + stars: | 2024-06-27 | by ( Christine Ji | ) www.businessinsider.com time to read: +4 min

EToro surveyed 10,000 retail investors in 12 countries to see what they're holding in their portfolios, collecting data from the period of May 15 to June 5, 2024. Thirty-eight percent and 32% of retail investors in these countries, respectively, own cryptocurrency, compared to 27% in the US. Top stock market picksEquities remain popular among retail investors, coming in second only to cash. Unsurprisingly, technology was a top pick for retail investors eager to take advantage of the tech-driven market rally of this year. Other areas of interest include real estate, communications, and healthcare, with 30% or more of retail investors indicating that they were invested in these sectors.

Persons: —, eToro, Cash, Sam North, Cryptocurrency Organizations: Service, Business, ECB Locations: EToro, Spain, Germany

☆ Investor Neil Hennessy says megacap tech trade is 'over' and to buy these two stocks instead
▼ + stars: | 2024-06-26 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Neil Hennessy said investors need to look at value stocks that offer attractive price-to-sales multiples and avoid what he sees as a dying "Magnificent Seven" trade. While Hennessy admitted that the Magnificent 7 stocks have performed well, he said their average price-to-earnings multiple sits at around 47 while their price-to-sales multiple is above 12. "The reality of our world is money is shifting over to value," said the University of San Diego alum. But Hennessy said the stock is attractively priced, with a price-to-sales multiple of 0.9 and P/E ratio of just 7. But the average price target implies the stock can turn around and surge more than 27% over the coming year.

Persons: Neil Hennessy, Hennessy, I'm, SPX Organizations: Oshkosh Corp, University of San Diego, Oshkosh, LSEG

☆ Here are 3 key things we're watching in the stock market Wednesday afternoon
▼ + stars: | 2024-06-26 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. 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. Amazon CEO, Andy Jassy speaking with CNBC's Jim Cramer on Mad Money in Seattle, WA.

Persons: Jim Cramer, Jim Cramer's, Jim, Andy Jassy, CNBC's Jim Cramer, Mad Organizations: CNBC, Apple, Netflix, Federal Reserve, Web Services, Micron, Jefferies, Walgreens, McCormick, Jim Cramer's Charitable, Amazon Locations: Seattle , WA

☆ Britain looks to upstage France with play for world's third major AI hub after U.S., China
▼ + stars: | 2024-06-26 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

But key challenges face the country as it looks to become the world's third-biggest AI hub. At the London Tech Week conference in the Olympia events venue earlier this month, tech executives from around the world touted London and the U.K. as a place to invest. London vs. FranceLondon is facing heated rivalry from France for the title of European AI leader. Can the UK keep its European AI crown? Seeking regulatory clarityAnother key source of uncertainty for tech leaders is the future of AI regulation in the U.K.

Persons: Mike Kemp, Alex Kendall, — Kendall, Wayve's, Brent Hoberman, Wayve, it's, Salesforce, Janet Coyle, Coyle, Arthur Mensch, Hanno Renner, that's, Europe's, CNBC's, Philip Belamant, Zilch, Matthew Holman, Cripps, Holman Organizations: Global, London Tech, Sage, Google, London, Partners, Viva Tech, Accel, CNBC, Mistral France Paris, Alpha, Alpha Germany Heidelberg, Face France Paris, France Paris, United, United Kingdom London, Kingdom London, Tech, European Union Locations: London, United Kingdom, China, Olympia, SoftBank, San Francisco, Vancouver . U.S, France London, France, Brazil, Silicon, Europe, Paris, Berlin, Alpha Germany, Germany, Brexit, Britain

☆ Morgan Stanley wealth advisors are about to get an OpenAI-powered assistant to do their grunt work
▼ + stars: | 2024-06-26 | by ( Hugh Son | ) www.cnbc.com time to read: +4 min

The assistant, called Debrief, keeps detailed logs of advisors' meetings and automatically creates draft emails and summaries of the discussions, bank executives told CNBC. Morgan Stanley's wealth management division hosts about 1 million Zoom calls a year, the bank told CNBC. Zoom In Icon Arrows pointing outwards Morgan Stanley’s new Debrief program, a new AI tool for wealth management advisors based on OpenAI’s GPT-4. In a sense, Morgan Stanley's projects in generative AI amount to a "grand experiment in productivity," said McMillan. Morgan Stanley's wealth management division is one of the world's largest with $5.5 trillion in client assets as of March; the firm wants to reach $10 trillion.

Persons: Bing Guan, Morgan Stanley, Jeff McMillan, Morgan Stanley's, McMillan, Morgan, I'm, Don Whitehead, who's Organizations: Bloomberg, Getty, CNBC Locations: Houston

☆ The S&P 500 could crater 48% when the stock-market bubble pops and recession finally hits, elite strategist says
▼ + stars: | 2024-06-26 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The S&P 500 could crash 48% when the bubble in stocks pops and a recession hits, Paul Dietrich said. The elite strategist pointed to a massively overvalued market and cracks in the economy. AdvertisementThe S&P 500 could be cut in half when the stock-market bubble pops and the US economy sinks into recession, Paul Dietrich says. He attributed that to institutional investors buying the haven asset as they expect a "major correction or stock market crash due to our wildly overvalued stock market and a slowing underling economy." The Wall Street veteran is one of several top forecasters predicting pain for stocks and a recession ahead.

Persons: Paul Dietrich, Dietrich, —, Riley Wealth, Warren Organizations: Service, Microsoft, Nvidia, Federal Reserve, Wall

☆ Think the CDK outage is just about cars and dealerships? Think again
▼ + stars: | 2024-06-26 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

Last month there were $122 billion of transactions at car dealerships, according to Commerce Department estimates. That accounts for 17% of all retail sales in May. An outage lasting through June 30 would mean 10 days without dealership access to CDK. Now here’s where it gets even more glaring: Retail sales aren’t just some minor part of the economy. Consider yourself warned: You may want to hold off on looking at your 401(k) on July 25, when the government releases second-quarter GDP estimates.

Persons: Ramishah Maruf, Peter Valdes, CDK, Russell Price, ” Price Organizations: New, New York CNN, North America, Commerce Department, Ameriprise, CNN Locations: New York

☆ Nvidia, Apple, other tech giants flash weakness. Here are buy levels to consider as entry points
▼ + stars: | 2024-06-26 | by ( Zev Fima | ) www.cnbc.com time to read: +12 min

Apple and Alphabet pulled back to the support levels we highlighted and have since rallied strongly. As we can see, $400 served as a key support level three times early this year (the second black horizontal line). Here, we are again applying the polarity principle and using prior resistance as the new support level. We see that $166 has proven a key support level (the top black horizontal line) ever since that post-earnings breakout. Nvidia Potential entry points: $120, $110, and $100 Just below Tuesday's close, around $120, that's a battleground level (the top black horizontal line).

Persons: It's, we've, We're, it's, Jim Cramer's, Jim Cramer, Jim Organizations: Apple, Nvidia, Microsoft, Amazon, Big Tech, Club, Apple Intelligence, Developers, CNBC, NVIDIA, Publishing, Getty Locations: HANGZHOU, CHINA, Hangzhou city, Zhejiang province, China

☆ Top corporate CFOs are losing some confidence in economy, as consumer demand fears spike
▼ + stars: | 2024-06-26 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +5 min

Fears among top corporate CFOs about shaky consumer demand have hit a six-quarter higher, according to the latest CNBC CFO Council survey, with the Q2 survey the first time since the beginning of 2023 that over half of CFOs cited consumer demand as the biggest external risk to their business. Consumer demand fears among CFOs have been rising in recent quarters, and match evidence from the market across sectors, with fast-food chains rushing out value menus and car dealers having more difficulty moving inventory. The 54% of CFOs who cited consumer demand as the biggest risk is up from 18% a year ago, and 37% last quarter. Last quarter, almost half of CFOs forecast a 10-year yield that would dip below 4% by the end of the year. But now, CFOs have pushed out their inflation view even further.

Persons: Walmart's, isn't, CFOs, Jerome Powell, it's, Donald Trump Organizations: CNBC, Food, Federal Reserve, Fed, Dow Jones, Biden

☆ Stock market news: US stocks slide and bond yields rise as traders eye new economic data
▼ + stars: | 2024-06-26 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks ticked lower on Wednesday. Major averages ticked lower, while bond yields rose. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUS stocks slumped on Wednesday, with major averages down as bond yields rose as Nvidia shares wavered and investors eyed fresh economic data. Nvidia shares slid as much as 1.2% in early-morning trading before paring losses, trading about 0.25% higher shortly after the opening bell.

Persons: —, Morrison, Dow Jones, Michelle Bowman Organizations: Nvidia, Service, Fed, Treasury, Here's

☆ Stock market today: Indexes rise as traders await new data
▼ + stars: | 2024-06-26 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Mega-cap tech rose, though Nvidia wavered through the session. Meanwhile, traders are awaiting upcoming inflation data for further guidance on rate cuts. Nvidia shares wavered, selling off earlier in the day before edging slightly higher to close the session. Tech stocks moved slightly higher broadly on Wednesday, with the Nasdaq Composite climbing throughout the day. Meanwhile, traders are bracing for Personal Consumption Expenditures inflation, the Fed's preferred inflation measure, to roll out on Friday.

Persons: —, Dow Jones Organizations: Nvidia, Service, Treasury, Tech, Nasdaq, Amazon, Here's

☆ Your 401(k) is up, and a new report shows increased savings. But Americans need to do more
▼ + stars: | 2024-06-26 | by ( Bob Pisani | ) www.cnbc.com time to read: +7 min

The bad news: account balances for the median 401(k) of a person approaching retirement (65+) remains very low. Higher returns, participation rates, savings ratesWhy do we care so much about 401(k) plans? Thanks to a change in the law several years ago, a record-high 59% of plans offered automatic enrollment in 401(k) plans. By switching to automatic enrollment, participants were automatically enrolled and had to "opt-out" if they did not want to participate. Plans with automatic enrollment had a 94% participation rate, compared with 67% for voluntary enrollment plans.

Persons: John James Organizations: Vanguard, Fidelity, Social Security, Institutional Investor Group, Social, Security, Pension Rights Center

☆ Stocks are looking 'eerily similar' to the last bear-market crash, Charles Schwab says
▼ + stars: | 2024-06-25 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Market dynamics mirror 2021, potentially signaling a bear market on the way, Charles Schwab said. There's a growing divergence between index-level and individual stock performanceThe number of individual stocks reaching new highs is falling, despite the market's bull run. AdvertisementCurrent stock market dimensions are starting to mirror 2021, a year that preceded the most recent bear market correction, Charles Schwab wrote this week. In its latest commentary, the bank took aim at the growing misalignment between index-level and individual stock performance. At the same time, the number of individual names reaching fresh lows is at bear market levels, the note added.

Persons: Charles Schwab, —, Liz Ann Sonders, Ann Sonders, Schwab, General Electric … Organizations: Service, Nasdaq, Utilities, General Electric Locations: Technology

☆ Stock market today: US indexes rebound as Nvidia's revival sets off a tech rally
▼ + stars: | 2024-06-25 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Nvidia stock reversed a three-day drop, boosting the S&P 500 and Nasdaq. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAn end to Nvidia's rout brought new life to the stock market on Tuesday, sending the S&P 500 and Nasdaq churning higher in the session. Investors are keeping watch for Friday's personal consumption expenditures release, which will help determine US inflation and future monetary policy.

Persons: Michelle Bowman, there's, —, Jeffrey Roach Organizations: Nasdaq, Service, Nvidia, Amazon, Google, Financial, Investors, Federal Reserve Locations: Here's

☆ Are you better off than you were four years ago? It can be a murky picture for many
▼ + stars: | 2024-06-25 | by ( Shannon Pettypiece | ) www.cnbc.com time to read: +9 min

But retirees and full-time caregivers have been unable to take advantage of a strong job market. Now, consumers are largely left with the same buying power they had four years ago rather than having seen real income gains over that time that would have helped bolster their financial picture. The outlook for the job market also varies by race with the unemployment rate at 5.6% for Black workers and 5% for Hispanic workers. Food prices have risen around 25% over the past four years while Biden was in office. The rise in food prices has disproportionately impacted lower-income households, which spend around a third of their discretionary income on food, according to a 2022 Agriculture Department survey.

Persons: Joseph Prezioso, Joe Biden, Donald Trump, Ronald Reagan, Julia Pollak, Pollak, Joseph Davis, Biden, MAGA, Julian Assange, Trump, Davis Organizations: Gloucester High School, AFP, Getty, Homeowners, ZipRecruiter, NBC, Consumer, Vanguard, NBC News, Food, Bureau of Labor statistics, Agriculture, Federal Reserve, Walmart, Aldi, Target, Gas Locations: Gloucester , Massachusetts, U.S, Arizona, Nebraska , Colorado

☆ Nvidia share price nosedives to wipe $430 billion off company’s value
▼ + stars: | 2024-06-25 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

The US chipmaker’s market capitalization hit $3.34 trillion on June 18 to surpass Microsoft’s but has since shed $430 billion. Now worth $2.91 trillion, Nvidia has fallen into third place globally, behind Microsoft (MSFT) and Apple (AAPL), which have a market cap of $3.33 trillion and $3.19 trillion respectively. The company’s chips power AI systems, including generative AI, the technology behind OpenAI’s ChatGPT that can create text, images and other media. Now investors have started to take profits and they seem to prefer selling stocks with the best year-to-date performance.”Market contagion? Nvidia is a member of the so-called Magnificent Seven, the mega-cap tech companies whose shares greatly outperformed the broader US stock market rally last year.

Persons: ” Jim Reid, OpenAI’s, Nvidia’s, ” Jochen Stanzl, —, ”, Derren Nathan, Hargreaves, isn’t, “ Organizations: London CNN, Nvidia, US, Microsoft, Apple, Deutsche Bank, CMC, CNN, Nasdaq

☆ Stock market today: Indexes trade mixed as traders try to recover from Nvidia-fueled sell-off
▼ + stars: | 2024-06-25 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

US indexes climbed as Nvidia reversed a three-day sell-offNvidia's stock fell nearly 17%, offering long investors opportunity to buy in. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS indexes moved mostly higher Tuesday morning, with investors looking to reverse the Nvidia-led drop. AdvertisementThis week, investors are also keeping track of Federal Reserve commentary from a roster of officials scheduled to speak, as well as the personal consumption expenditures data scheduled for Friday. Here's where US indexes stood at the 9:30 a.m. opening bell on Tuesday:AdvertisementHere's what else happened today:In commodities, bonds, and crypto:Advertisement

Persons: Michelle Bowman, —, David Morrison Organizations: Nvidia, Fed, Service, Trade Nation, Federal Locations: Nvidia's

☆ Why the stock market could surge 4% to record highs by the end of July
▼ + stars: | 2024-06-25 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

AdvertisementThe best days and weeks of the year for the stock market are around the corner. If history is a guide, that suggests the S&P 500 could surge 4% next month to record highs, according to Goldman Sachs. Goldman SachsWhat's more, recent market trends show that July as a whole has been incredibly bullish for the stock market. If similar seasonal trends play out this year, a near-4% gain would catapult the S&P 500 to a new record at 5,665 based on current levels. As to what could drive more bullish returns over the coming weeks, Rubner highlighted that a record cash pile of more than $7 trillion sitting in money market funds could soon flood the market.

Persons: Goldman Sachs, —, Scott Rubner, Rubner, NDX Organizations: Nasdaq, Service

☆ These ETFs have beaten the S&P 500 for five years and are ahead in 2024 too
▼ + stars: | 2024-06-25 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Six exchange-traded funds have outperformed the S & P 500 index every year for the past five years, according to analysis by CNBC Pro. In 2022, when the S & P 500 fell by nearly 20%, the six ETFs each had a smaller loss. The Taiwanese dollar-denominated Sinopac TAIEX ETF also outperformed the S & P 500 over the same period in local currency terms. First Trust RBA American Industrial Renaissance Of the six ETFs, the First Trust RBA American Industrial Renaissance ETF (ticker: AIRR) has performed best over the period. It logged a cumulative total return of 178% over the past five years, compared to the S & P 500's 112%.

Persons: Goldman Sachs Organizations: CNBC Pro, Four, JPMorgan, Goldman Sachs ActiveBeta, Equity, Trust, Industrial Renaissance, JPMorgan U.S, Research Locations: Four U.S, Taiwan, U.S, United States, United Kingdom, Italy, Germany, Switzerland

☆ Bitcoin bounces above $61,000, Solana leads cryptocurrencies higher
▼ + stars: | 2024-06-25 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Cryptocurrencies rose broadly, a day after bitcoin slumped to under $60,000 for the first time since early May, leading to a broad sell-off in crypto assets. Solana was the crypto market leader on Tuesday, however. The token tied to Chainlink, which provides data feeds on the Solana network, gained 7%. Ether gained 2% and coins linked to other Ethereum rivals rose broadly. Cardano's ADA jumped more than 6%, Polkadot advanced 5% and Binance Coin rose 3%.

Persons: bitcoin, Noelle Acheson, Solana, Ben Kurland Organizations: Metrics, Nvidia, Nasdaq, Solana Foundation, ADA, Polkadot Locations: Solana

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