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Customers at a fresh food market in Shanghai, China, on Monday, Aug. 7, 2023. Bloomberg | Bloomberg | Getty ImagesAsia-Pacific markets were set to fall Monday after Wall Street's rally took a breather, with artificial intelligence darling Nvidia finishing down more than 5% in its worst session since late May. Separately, China recorded its first month of inflation in four months with the country's consumer price index climbing 0.7% year on year in February. In Australia, the S&P/ASX 200 started the week down 1.21%, retreating from its all-time high and snapping a three-day winning streak. Japan's Nikkei 225 is also set to fall, with the index likely slipping below the 39,000 mark for the first time since Feb. 21.
Persons: Wall Organizations: Bloomberg, Getty, CPI, Reuters, Nikkei Locations: Shanghai, China, Asia, Pacific, Australia, Chicago, Osaka
Gold rally hits pause ahead of U.S. inflation data
  + stars: | 2024-03-11 | by ( ) www.cnbc.com   time to read: +2 min
One kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices took a breather from a record-breaking rally on Monday, which was fueled by a cooling U.S. labor market and remarks from the Federal Reserve, with traders awaiting a U.S. inflation report for fresh clues on the timing of rate cuts. Gold set a record peak of $2,194.99 for the fourth straight day on Friday after data signaled a cooling U.S. labor market. COMEX gold speculators raised their net long positions by 63,018 contracts to 131,060 in the week ended March 5, data showed on Friday. A cooler reading on the CPI print could help the case for an early rate cut, supporting gold prices.
Persons: Matt Simpson, Simpson, Powell Organizations: Co, Federal, Index, Traders Locations: Bangkok, Thailand
"Maestro" star Bradley Cooper lost the Oscar for best actor to "Oppenheimer" actor Cillian Murphy. Cooper, a Pennsylvania native, plays himself on 'Abbott Elementary'Bradley Cooper with the cast of "Abbott Elementary" on season three, episode six. Advertisement"I wasn't in 'Oppenheimer,'" Cooper responds, with a skeptical Ava asking, "Are you sure? The movie nabbed several Oscar nominations, including best actor, best actress, and best picture. He received rave reviews for his portrayal, was a frontrunner for best actor, and won the award on Sunday.
Persons: Maestro, Bradley Cooper, Oscar, Oppenheimer, Cillian Murphy, Cooper, Abbott, , Cooper's Oscar, Leonard Bernstein, Willard R, Melissa Schemmenti's, Lisa Ann Walter, Khalil, Melissa, I'm, Johnson, William Stanford Davis, he's, Ava Coleman, Janelle James, Barbara Howard, Sheryl Lee Ralph, Janine Teagues, Quinta Brunson, Ava, Carey Mulligan, Felicia Montealegre, Jason McDonald, Netflix Cooper, , Irina Shayk, Dax Shephard's, Emma Stone, Netflix Murphy, Christopher Nolan's, Ryan Gosling, Ken, Billie Eilish, Bradley Organizations: Service, Abbott, ABC, Guardians, Marvel, Netflix, Academy Locations: Philadelphia, Pennsylvania, Philly
Birgir Jónsson is the CEO of Play, an Icelandic airline offering cheap transatlantic flights. Jónsson told BI how Play keeps costs low, and how important volcanoes are to Icelandic tourism. From 2014 to 2015, he was the deputy CEO of Wow Air, an Icelandic ultra-low-cost carrier that went bankrupt in 2019. AdvertisementHis foray into the sector began as CEO of Iceland Express, which was acquired by Wow. While other airlines had to avoid the country's airspace — lengthening journey times — Play got planes at discount prices.
Persons: , Jónsson, Icelandair, it's, York's, New Orleans —, Etienne De Malglaive, Los Angeles —, They're Organizations: Jónsson, Service, Wow, Iceland Express, Icelandic Post, Southwest, Ryanair, York's Stewart, Airbus, North, British Airways Flight, Nasdaq, Russia Locations: Icelandic, Europe, New York, London, Reykjavík, Romanian, Manhattan, Iceland, New Orleans, Eyjafjallajökull, India, Los Angeles, California, Dubai, Russia
Marvell Technology — The chip company sank more than 11% on light first-quarter earnings and revenue guidance. Marvell Technology said it anticipated adjusted earnings of 23 cents per share for the first quarter, below the 40 cents expected by analysts polled by LSEG, formerly known as Refinitiv. Samsara posted $276 million in revenue, compared to analysts' expectations for $258 million, per LSEG. DocuSign reported adjusted earnings of 76 cents per share on revenue of $712 million for the period. Analysts polled by LSEG had called for earnings of 64 cents per share on $699 million in revenue.
Persons: Carvana, Eli Lilly —, Goldman Sachs, MongoDB, NYCB, DocuSign, LSEG, Morgan Stanley, Yun Li, Jesse Pound, Pia Singh, Sarah Min, Michelle Fox, Hakyung Kim Organizations: Nvidia —, Nvidia, Marvell Technology, LSEG, RBC Capital Markets, Costco, U.S . Food, Drug Administration, Broadcom, Textron — Textron, Bank of America, Old Navy, New York Community Bancorp, Moody's Investors Service, Amylyx Pharmaceuticals, UBS — U.S, UBS, Auto, Deutsche Bank Locations: U.S, Swiss, China
The magnitude of Nvidia's run is simply mind boggling, with the stock adding $1 trillion in market value in about two months. Trying to short this parabolic stock is what we used to call in the trading pits of Chicago, a "widowmaker." However, I believe that once Nvidia (NVDA) hits $1,000 it might actually be due to take a breather. Overbought territory Typically, an investor will buy a put if they think a stock is overbought or are concerned it will fall. That being said, Nvidia was trading at the same RSI level of 86 in early February while trading at $693, nearly $300 ago.
Persons: NVDA, Long Organizations: Nvidia, Apple, Microsoft Locations: Chicago, Downside
Nvidia shares may be due for a pullback after another red hot start to the year. But Nvidia may be getting ahead of itself after nine-straight weeks of gains, according to this commonly watched metric. Here are some of the stocks that made the list: Howmet Aerospace and General Electric are the most overbought stocks, with RSIs exceeding 89. Nvidia was the fourth-most overbought stock on the list with an RSI reading of about 86. NVDA 5D mountain Nvidia shares this week Other companies that made the overbought list include Jabil , Leidos Holdings and American Express .
Organizations: Nvidia, CNBC Pro, Wall, Aerospace, General Electric, Electric, JPMorgan, Leidos Holdings, American Express, Apple Locations: China
Stocks retreated on Friday, closing out a turbulent week as Nvidia 's incredible run took a breather. The broad S&P 500 pulled back by 0.26% this week, while the blue-chip Dow and tech-heavy Nasdaq fell 0.93% and 1.17%, respectively. That decline marked the worst week for the 30-stock Dow since October. The artificial intelligence darling finished down more than 5% in its worst session since late May. Despite that breather, Nvidia shares still finished up more than 6% on the week.
Persons: Stocks, Sam Stovall, We've Organizations: Nvidia, Nasdaq, Dow Jones Industrial, Dow, CFRA Research
Dollar steady ahead of Powell testimony, bitcoin takes breather
  + stars: | 2024-03-06 | by ( ) www.cnbc.com   time to read: +3 min
The U.S. dollar was largely steady on Wednesday, as traders avoided making large bets ahead of congressional testimony from Federal Reserve Chair Jerome Powell, as well as the European Central Bank's, or ECB, rate decision and U.S. jobs data later this week. In cryptocurrencies, bitcoin was slightly up but stayed below a record high reached in a volatile overnight session. Powell is expected to reinforce that the Fed will wait for more data before making any rate cuts. Elsewhere, the ECB is widely expected to leave interest rates at a record 4% at its policy meeting on Thursday. Markets are also keeping a close eye on the world's largest cryptocurrency, bitcoin , after it surged to a record high overnight before retreating sharply.
Persons: Jerome Powell, bitcoin, Powell's, Powell, Carol Kong, Sterling Organizations: U.S, Federal, European Central Bank, Institute for Supply Management, Traders, Commonwealth Bank of Australia, ECB Locations: U.S
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNordstrom shares sink on weak guidance, CFRA's Zachary Warring says move is 'just a breather'Zachary Warring, CFRA Equity Research Analyst, joins 'Closing Bell Overtime' to talk Ross and Nordstrom quarterly results.
Persons: CFRA's Zachary Warring, Zachary, Ross, Nordstrom Organizations: Nordstrom, CFRA Equity Research
Bitcoin tops $65,000 as it nears 2021 all-time high
  + stars: | 2024-03-04 | by ( Tanaya Macheel | ) www.cnbc.com   time to read: +3 min
Earlier, it rose to as much as $65,658.10, its highest level since November 2021. The price of bitcoin rose to start the week, edging even closer to its all-time high after the rally took a breather over the weekend. "What we're seeing today ... might well be a rerun of early last week when bitcoin surged $10,000 in the space of a couple of days. Investors have been extra eager to see bitcoin approach its all-time high. Nevertheless, long-term investors are confident that the combination of increasing demand for bitcoin through the new U.S. exchange-traded funds and a tighter supply expected after the April halving event will push the price of bitcoin to a new all-time high.
Persons: bitcoin, cryptocurrency, Antoni Trenchev, Crypto, David Duong, Dogecoin, Shiba, CleanSpark Organizations: Metrics, Nasdaq, Marathon Digital, Iris Energy
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer said the stock is a must-own tied to energy and oil. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons: Jim Cramer, Dow, Eaton, Locker, Jerome Powell, Jim, Thomas Jorden, Eli Lilly, Lilly, Jim Cramer's Organizations: CNBC, Nasdaq, Nvidia, Broadcom, Costco, Capitol, Coterra Energy, Management, Wall, UBS, Club, Therapeutics Locations: AVGO, FL
Here's a breakdown of how Super Micro got to this point, and where investors and analysts expect it to go. What to know about Super Micro Computer Creating servers isn't a new objective for the California-based company. Other shareholders such as Vendig have opted to take a breather on buying shares until the next earnings call. Those headwinds may not hit until 2025 but could hurt the stock if Super Micro fails to differentiate itself. "Super Micro was in the right place at the right time when generative AI took off, there really wasn't a competitor," he said.
Persons: hasn't, Paul Meeks, Brian Vendig, we've, Shreya Gheewala, Matt Bryson, Sylvia Jablonski, Jablonski, Vendig, Wedbush's Bryson Organizations: Nvidia, Devices, Computer, Management, MJP Wealth, AMD, Intel, Wedbush Securities, Micro, Super Micro, Super Locations: California
The dollar was steady on Friday after data showed U.S. inflation remained sticky but easing gradually, keeping alive the chance of the Federal Reserve cutting rates in June, while the yen slid back to the key 150 per dollar level. The data showed U.S. prices picked up in January in line with expectations, while annual inflation slipped to the lowest in three years. Takata's comments stoked expectations that the central bank could end negative rates in March rather than the widely held view of a move in April. The contrasting comments are likely to keep investors guessing about the next move from the central bank. The Australian dollar rose 0.08% to $0.65025, while the New Zealand dollar was little changed at $0.6088.
Persons: Raphael Bostic, Hajime Takata, Kazuo Ueda Organizations: Federal Reserve, Commonwealth Bank of Australia, Traders, Atlanta Federal Reserve Bank, Bank of Japan, New Zealand Locations: United States, U.S, Atlanta
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. 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.
Persons: Jim Cramer, Jay Rasulo, Nelson Peltz, Rasulo, Peltz, Ike Perlmutter, Peltz's Trian, Perlmutter, Clawing, Estee Lauder, Foot Locker, Health —, Jeff Marks, Jim, Jim Cramer's Organizations: CNBC, Federal, Dow Jones, Nasdaq, Dow, Energy, Linde, Disney, Saturday's Club, Marvel Entertainment, Peltz's Trian Partners, Palo Alto Networks, Palo Alto, Health, Virgin Galactic, TJX Companies, Marshalls, Club, Jim Cramer's Charitable Locations: Gaza, Maxx
European markets are heading for a negative open Tuesday, following their global counterparts lower. Asia-Pacific markets turned lower overnight, with Hong Kong stocks leading the declines and Japan's Nikkei 225 giving up gains from earlier in the session. Trading sentiment was subdued following a pause in Wall Street's rally on Monday as its key indexes retreated from record highs. S&P 500 futures are near flat early Tuesday as the rally took a breather. Investors stateside are keeping an eye out this week for the monthly personal consumption expenditures price index, the U.S Federal Reserve's favored inflation gauge.
Organizations: Nikkei, U.S Federal Locations: Asia, Pacific, Hong Kong, U.S
S&P 500 futures are near flat Monday night as the market rally took a breather. Futures tied to the broad index and Nasdaq 100 futures both traded near flat. Those moves follow a losing day on Wall Street that pulled the Dow and S&P 500 off record highs seen last week. The Dow and S&P 500 slipped 0.16% and 0.38%, respectively, while the technology-heavy Nasdaq Composite inched lower by 0.13%. "You're digesting so much of what happened last week with big earnings, and then you have big data on the horizon."
Persons: Ross Mayfield, Baird, They'll, Mayfield Organizations: New York Stock Exchange, Dow Jones, Unity Software, Dow, Walgreens Boots Alliance, Virgin Galactic, PCE Locations: New York City, U.S, PCE
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, July 20, 2023. U.S. equity futures were little changed on Sunday as investors looked forward to the latest reading of the Federal Reserve's preferred inflation reading as well as a slew of big earnings reports. Futures tied to the Dow Jones Industrial Average were down by 0.04%, while S&P 500 futures and Nasdaq 100 futures ticked lower by 0.04% and 0.05%, respectively. "Nvidia has been the gift that keeps on giving with blockbuster earnings reports driving semis, tech, and the broader market higher this past week. "A hotter than expected PCE report this week could be a data point that could dampen the market enthusiasm."
Persons: Dow, they're, Stephanie Lang, Homrich Berg Organizations: New York Stock Exchange, Federal, Dow Jones, Nasdaq, Nvidia, CNBC, Norwegian Cruise, AMC Entertainment, Anheuser, Busch Locations: New York City, Norwegian
A hot pink Barbie flip phone is launching this summer
  + stars: | 2024-02-25 | by ( Ryan Browne | ) www.cnbc.com   time to read: +2 min
The company behind Nokia-branded smartphones, HMD, short for Human Mobile Devices, says it is launching a Barbie flip phone this summer, in partnership with toy maker Mattel . Soon, you'll be able to get a flip phone from the blockbuster toy franchise. It won't be connected to the internet, making it a throwback to the "dumb phones" of yesteryear before smartphones became popular. The device looks like a standard flip phone with buttons rather than a touch screen, and comes in a hot pink color, resembling the iconic pink flip phone accessory that comes with many Barbie dolls. This is a step away from Nokia which is the brand HMD typically has used to sell its dumb phones and smartphones.
Persons: you'll, Lars Silberbauer, Barbie, HMD, Margot Robbie, Ryan Gosling, Will Ferrell Organizations: Mattel, Nokia, Mobile Devices, YouTube, HMD, Mobile, Microsoft Locations: U.S
A licensed counselor shared some common signs you've outgrown a friendship. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . A common reason is feeling like you’ve grown while your friend hasn’t — or at least not in a way that complements you. AdvertisementShe explained some common signs you’ve outgrown a friendship dynamic, whether you want to cut ties, open up to your friend, or just take a breather from hanging out. You might as well be honest if you’re convinced you’re on the outs.
Persons: , hasn’t —, ” Suzanne Degges, White, You’re, , , you’re, you’ve, You’ve Organizations: Service, Northern Illinois University Locations: Degges
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFebruary and March are historically bad for stocks, so time to take a breather, says Robert SheinRobert Schein, Blanke Shein Wealth Management CIO, discusses market positioning in the face of inflation risks.
Persons: Robert Shein Robert Schein Organizations: Wealth Management
Dollar steady as traders weigh economic data, yen fragile
  + stars: | 2024-02-16 | by ( ) www.cnbc.com   time to read: +4 min
The dollar was steady on Friday, on track for its fifth straight weekly gain, as investors take stock of economic data and firm expectations of the Federal Reserve cutting rates in June, while the yen traded at the psychologically key 150 per dollar level. But overall market expectations on the timing of the first Fed cut and magnitude of the cut will continue to drive volatility in FX markets." "We will likely soon contemplate the appropriate time for monetary policy to become less restrictive," Bostic said. Investor focus has been on comments from policymakers, with Federal Reserve Chair Jerome Powell due to give the Senate banking committee its biannual monetary policy update on March 7. The Australian dollar eased 0.20% to $0.651, while the New Zealand dollar is down 0.21% to $0.609.
Persons: Christopher Wong, Raphael Bostic, Bostic, Jerome Powell, pare, Kieran Williams, bitcoin Organizations: Federal Reserve, PPI, Federal Reserve Bank of Atlanta, Federal, Asia FX, InTouch, Markets, New Zealand Locations: Buenos Aires, Argentina, Singapore, U.S, Japan, Asia, Germany
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Meta Platforms said Wednesday that Broadcom CEO Hock Tan will join the company's board of directors. 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, Stocks, Dow, Hock Tan, Nvidia's, Piper Sandler, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Federal Reserve, Meta, Broadcom, Reuters, Nvidia Locations: U.S, China
A spokesman for Industrious said it would own a 40% stake in the merged subsidiary. The vacancy rate for office space nationally hit 18.6% at the end of 2023, according to data from CBRE– the highest level since 1992. About 771 million square feet, about twice the size of Manhattan's entire office market, sits empty nationally. How Industrious won the coworking warHodari has been an astute and resilient player in the coworking business. At the time, most coworking companies sought to rent space from landlords then sublease that to their clientele at a hefty markup.
Persons: WeWork, Jamie Hodari, Hodari, Deskpass, Sam Rosen, Deskpass Stephanie Bassos, CBRE, Breather, Rosen, Adam Neumann, Shlomo Silber, Silber, lockdowns, You've Organizations: Business, Deskpass, Bond Locations: New York, Chicago, Breather
CNN —Prince Harry left players starstruck after making a surprise appearance at the NFL Honors ceremony in Las Vegas on Thursday. Before he announced the award’s recipient, Harry took the time to take some humorous jabs at the differences between American and British sports. “Oh man,” Heyward said on stage. Prince freaking Harry. That’s Prince Harry!”Keegan-Michael Key, Heyward and Prince Harry pose for a photo after the Pittsburgh Steelers DT won the Man of the Year award.
Persons: Prince Harry, Duke, Sussex, Harry, , , let’s, Cameron Heyward, ” Heyward, Prince, Man, That’s Prince Harry ! ” Keegan, Michael Key, Heyward, Todd Rosenberg, I’ve, “ I’ve, I’m, “ Cameron, Roger Goodell, Walter Payton, King Charles III Organizations: CNN, NFL, Pittsburgh Steelers, Pittsburgh Steelers DT, Steeler, Foundation, Walter Payton NFL Locations: Las Vegas, British, Pittsburgh
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