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☆ The recession crowd has regained the stock market narrative, for now
▼ + stars: | 2024-09-04 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Every jobs number moves markets now In the meantime, every data point on jobs is a potentially market moving event. Nvidia's multiple is falling, not its earnings Meanwhile, there was much gnashing and wailing around Nvidia 's big 9% drop yesterday. Nvidia lost $279 billion in market value Tuesday. The forward multiple for Nvidia's next fiscal year (February 2025-February 2026) is 28.8, well below the 36 multiple in June. While Nvidia is certainly not a value stock, it is much more reasonably priced than it was two months ago.

Persons: Goldman Sachs, you've, they've, Tom Lee, Fundstrat, Joe Zicherman, Big, CNBC's Robert Hum Organizations: Citigroup, Bulls, CNBC, Nvidia, Meta Locations: China

☆ 10 things to watch in the stock market Friday including big earnings movers
▼ + stars: | 2024-08-23 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Citigroup opened a negative catalyst watch on Ulta Beauty and lowered its price target to $375 in anticipation of an earnings miss next week. Club holding TJX Companies ' quarterly results topped expectations earlier this week, and it also lifted its guidance. Uber has a similar partnership with Club holding Alphabet 's Waymo in Phoenix. 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.

Persons: Jerome Powell's, Jackson, Piper Sandler, Chewy, Wynn, Locker, Mary Dillon, Uber, Wells, Jim Cramer's, Jim Cramer, Jim Organizations: Federal, Nasdaq, Dow, Citigroup, UBS, Las Vegas Sands, Wynn Resorts, Ross, TJX Companies, Burlington Stores, Nike, Piper, Cruise, Club, BJ's Wholesale, Jim Cramer's Charitable, CNBC Locations: Macau, Las Vegas, Cava, Wells Fargo, Phoenix

☆ George Santos pleads guilty, avoiding a looming criminal trial
▼ + stars: | 2024-08-19 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

Read previewSerial liar and former US congressman George Santos pleaded guilty to criminal charges in court Monday, avoiding a criminal trial. Santos ultimately pleaded guilty on Monday to two counts — one count of wire fraud and one count of identity theft — as part of a plea agreement. Advertisement"You trusted me to represent you with honor and to uphold the values that are central to our democracy," Santos told reporters outside court after the hearing. Related storiesCourt filings previously indicated Santos was in talks for a plea deal as early as December. Two associates of Santos — Nancy Marks and Sam Miele — have previously pleaded guilty to fraud charges against them and would have likely testified in Santos' trial.

Persons: —, George Santos, Santos, Joann Seybert, Seybert, Breon, I've, Goldman Sachs, Hannah Montana, Zack, Cody, Tom Williams, Ferragamo, Santos — Nancy Marks, Sam Miele —, Tom Suozzi, Jimmy Kimmel Organizations: Service, Business, Eastern, of, Republican, The New York Times, Citigroup, Baruch College, New York University, Disney Channel, U.S . Capitol, Inc, Getty, Congress Locations: of New York, New York, Long, Queens, The, Brazil, Eastern, OnlyFans, Hermes, United States, New

☆ Cramer says the time to buy Home Depot is before a Fed rate cut — plus, takes on 4 more stocks
▼ + stars: | 2024-08-13 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +1 min

"You buy Home Depot before a rate cut, so I mean, it's ridiculous that this stock was down 15. That's just a knucklehead thing to do," Jim Cramer said. On Holding : Shares have been volatile after the Swiss shoemaker reported a better-than-expected quarter but maintained its full-year profit outlook. While analysts maintained their buy-equivalent rating on the stock, they warned that the memory chipmaker could see an increase in inventory, as well. "I like someone who is buying back" their own stock, Cramer said, referring to Micron's recent announcement that it restored its share repurchase program after pausing it in December 2022.

Persons: Jim Cramer's, That's, Jim Cramer, Cramer, Baxter, Carlyle, Hormel Organizations: CNBC, Club, Hormel, Citigroup, Micron Technology Locations: Swiss

☆ Stocks making the biggest moves midday: Starbucks, Chipotle, Home Depot, Tencent and more
▼ + stars: | 2024-08-13 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Starbucks , Chipotle Mexican Grill — Starbucks stock shot up 21% after the coffee chain ousted CEO Laxman Narasimhan effective immediately and replaced him with Chipotle CEO Brian Niccol, who will step in Sept 9. Three Wall Street firms already upgraded Starbucks stock after the news. Revenue of 567.7 million Swiss francs topped the 562.1 million expected by analysts polled by StreetAccount. The filings showed that the shareholders, including the Ontario Teachers' Pension Plan Board, were working with Morgan Stanley to sell a total of about 11 million shares of ViaSat. Rumble — Shares advanced more than 5% after the video sharing company's second-quarter results beat expectations on the top and bottom lines.

Persons: Laxman Narasimhan, Brian Niccol, Morgan Stanley, Carlyle, Riley, — CNBC's Sean Conlon, Michelle Fox, Alex Harring, Hakyung Kim, Jesse Pound Organizations: Starbucks, Home Depot, Depot, Dell Technologies, Barclays, Entertainment, Mobile, Citigroup, StreetAccount, ViaSat, Ontario, Board, Garden, Madison, Garden Sports, Baxter, Baxter International, Riley, SEC Locations: China, FactSet, Madison

☆ Stocks making the biggest moves premarket: Home Depot, Starbucks, Hormel Foods, Chipotle and more
▼ + stars: | 2024-08-13 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Starbucks , Chipotle Mexican Grill — Shares of the coffee chain popped more than 11% in the premarket after the company replaced its chief executive, Laxman Narasimhan, with Chipotle CEO Brian Niccol . Chipotle shares were down about 10%. The company reported earnings of 0.14 Swiss francs per share, or about $0.16, below the StreetAccount estimate of 0.16 Swiss francs. However, revenue of 567.7 million Swiss francs was better than the 562.1 million expected. Kodiak Gas Services — The natural gas services company dipped 2.7% after posting a year-over-year fall in earnings and a top-line miss.

Persons: Laxman Narasimhan, Brian Niccol, Riley, —, Jesse Pound, Fred Imbert Organizations: Home Depot, Entertainment Group, Kodiak Gas Services, Kodiak, Revenue, Citigroup, Riley, SEC, Securities and Exchange Commission Locations: StreetAccount

☆ JPMorgan Chase is giving its employees an AI assistant powered by ChatGPT maker OpenAI
▼ + stars: | 2024-08-09 | by ( Hugh Son | ) www.nbcnews.com time to read: +7 min

Rather than developing its own AI models, JPMorgan designed LLM Suite to be a portal that allows users to tap external large language models — the complex programs underpinning generative AI tools — and launched it with ChatGPT maker OpenAI’s LLM, said the people. ChatGPT banThe bank is giving employees what is essentially OpenAI’s ChatGPT in a JPMorgan-approved wrapper more than a year after it restricted employees from using ChatGPT. The number of uses for generative AI are “exponentially bigger” than previous technology because of how flexible LLMs are, Heitsenrether said. Ultimately, the generative AI field may develop into “five or six big foundational models” that dominate the market, she said. Heitsenrether charted out three stages for the evolution of generative AI at JPMorgan.

Persons: ” Teresa Heitsenrether, “, ChatGPT, Morgan Stanley, Jamie Dimon, Dimon, JPMorgan didn’t, Heitsenrether, ”, “ We’ve, ” Heitsenrether, it’s, — CNBC’s Leslie Picker Organizations: JPMorgan Chase, CNBC, JPMorgan, Apple, Accenture, Citigroup Locations: U.S

☆ How JPMorgan's crackdown on private-equity recruiting could play out for junior bankers, PE firms, and more
▼ + stars: | 2024-08-09 | by ( Emmalyse Brownstein | Reed Alexander | ) www.businessinsider.com time to read: +9 min

JPMorgan's message has become the talk of Wall Street as everyone from recruiters to junior bankers tries to figure out what it might mean for them. Here are 4 ways JPMorgan's missive could impact Wall Street, from private-equity recruiting to junior bankers who fear of losing their jobs and more. But JPMorgan's warning that coming forward could get one fired leaves junior bankers in a damned-if-you-do-damned-if-you-don't scenario. Advertisement"I think probably the biggest impact is going to be on current bankers and prospective bankers," he said. Do you work on Wall Street?

Persons: —, Chase, it's, JPMorgan, It's, Anthony Keizner, who's, Keizner, Goldman Sachs, Morgan Stanley, I'd, Emmalyse, Reed Alexander Organizations: Service, Business, JPMorgan, Wall, Search, Bankers, BI, Citigroup, Bank of America, Deutsche Bank, Barclays Locations: Instagram, New York

☆ Gold rises more than 1% on safe-haven demand, Fed rate-cut optimism
▼ + stars: | 2024-08-08 | by ( ) www.cnbc.com time to read: +2 min

Prices of safe-haven gold edged higher on Thursday, supported by Middle East tensions and optimism surrounding U.S. rate cuts, while traders awaited economic data for clues on the Federal Reserve's policy trajectory. Gold prices rose more than 1% on Thursday, supported by firm safe-haven demand and growing expectations for a sizeable interest rate cut from the U.S. Federal Reserve in September. Spot gold rose 1.27% to settle at $2,463.3. Brokerages including J.P.Morgan, Citigroup and Wells Fargo have forecast a 50-basis-point interest rate cut by the Fed in September after last week's U.S. jobs data. Gold prices fell as much as 3% on Monday, caught in a global sell-off driven by fears of a U.S. recession.

Persons: Alex Ebkarian, Bullion Organizations: Federal, U.S . Federal Reserve, J.P.Morgan, Citigroup, Fed Locations: Iran, Israel, Wells, U.S

☆ Banks are restricting employees from donating to the Harris-Walz campaign. Here's why.
▼ + stars: | 2024-08-08 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Financial-services firms risk the wrath of the Securities and Exchange Commission if their employees make campaign contributions to state or local officials such as Walz. Donating to the campaign would violate the regulator's "pay-to-play" rule, which keeps firms from trying to sway politicians for favors such as managing their state's pension fund. Those employees are also required to get permission to donate to the Harris-Walz campaign. It is possible to sidestep the pay-to-play rule by donating to PACs or Super PACs that aren't directly tied to the relevant candidate. "The Pay-to-Play Rule, although well-intentioned, imposes unique, unquantifiable costs on individuals by impeding their ability to participate in the political process."

Persons: —, Joe Biden, Kamala Harris, Tim Walz, Walz, Harris, Donald Trump's, Wells, Mike Pence, Pershing, Patricia Crouse, Crouse, aren't, Hester Peirce Organizations: Service, Street, for Responsive, Democrat, Minnesota Gov, Financial, Securities and Exchange Commission, Business, Citigroup, Citi, JPMorgan, Bank of America, Trump, Pershing, SEC, University of New Locations: Wells Fargo, Indiana, Massachusetts, Tallahassee , Florida, University of New Haven

☆ Harris antitrust policy would prioritize business growth and competition, says Maryland Gov. Wes Moore
▼ + stars: | 2024-08-07 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Vice President Kamala Harris would prioritize small business growth and large industry competition in shaping her own antitrust and regulatory policy if she wins the presidency in November, Maryland's Democratic Gov. A pro-growth, pro-competition approach to business in a potential Harris administration would mark a striking divergence from the aggressive trust-busting and merger-skeptical principles that have shaped the Biden administration's regulatory agenda. "As the vice president is thinking about a future-facing administration, there are going to be different dynamics that are going to require different philosophies," said Moore. "There will be different sociopolitical and just political dynamics that is going to require a different set, a different lens and a different vision." But his comments could feed the hopes of Wall Street dealmakers who are already optimistic that a potential Harris administration — while firmly rooted in progressive economic traditions — might deprioritize the aggressive antitrust regime that has been a trademark of Biden's presidency.

Persons: Kamala Harris, Wes Moore, Harris, Moore, — Organizations: Maryland's Democratic Gov, Biden, Democratic Party, Citigroup, Deutsche Bank, Robin Hood Foundation, Wall Locations: Baltimore, New York

☆ Markets are counting on the Fed to head off recession with sizeable interest rate cuts
▼ + stars: | 2024-08-06 | by ( Jeff Cox | Jeff Cox Is A Finance Editor With Cnbc.Com Where He Covers All Aspects Of The Markets | Monitors Coverage Of The Financial Markets | ) www.nbcnews.com time to read: +5 min

Disappointing economic data recently generated worries that the Fed missed an opportunity at its meeting last week to, if not cut rates outright, send a clearer signal that easing is on the way. In the past, the Fed has implemented just nine such cuts, and all have come amid extreme duress, according to Bank of America. Lacking a catalyst for an intermeeting cut, the Fed is nonetheless expected to cut rates almost as swiftly as it hiked from March 2022-July 2023. Why wait?”LaVorgna, though, isn’t convinced the Fed is in a life-or-death battle against recession. Still, any quakes in the data, such as Friday’s downside surprise to the nonfarm payrolls numbers, could ignite recession talk quickly.

Persons: Jerome Powell, ” Steven Blitz, ”, Andrew Hollenhorst, ‘, ’ ”, Michael Gapen, Powell, Joseph LaVorgna, “, “ They’ll, isn’t, Goldman Sachs, David Rosenberg Organizations: Federal Reserve, TS Lombard, Fed, Citigroup, Bank of America, Nikko Securities, Rosenberg Research Locations: Jackson Hole , Wyoming, Nikko

☆ Why the stock market is freaking out again
▼ + stars: | 2024-08-05 | by ( David Goldman | ) edition.cnn.com time to read: +6 min

The Dow tumbled more than 1,000 points at the open, and the broader market plunged 3% Monday. The Nasdaq, full of risky tech stocks, dropped 3.7%. Although that’s not in and of itself an unhealthy unemployment rate, its sudden march higher is alarming: Last year, the unemployment rate was at its lowest level since the moon landing. Traders are beginning to unwind big trades on Apple, Nvidia, Microsoft, Meta, Amazon, Alphabet and other tech stocks that had been surging since the beginning of last year. Monday’s rout, if it ends at current levels, wouldn’t even crack the top 100 worst days in market history.

Persons: Dow, that’s, Goldman Sachs, That’s, Jeremy Siegel, “, ”, Siegel, Stocks, it’ll, Warren Buffett, Berkshire Hathaway Organizations: CNN, Nasdaq, Nikkei, Federal Reserve, of Labor Statistics, Citigroup, JPMorgan, CNBC, Traders, Apple, Nvidia, Microsoft, Meta, Berkshire Locations: Wall

☆ 3 reasons to worry about July’s weak jobs report — and 1 reason not to panic
▼ + stars: | 2024-08-03 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

The Federal Reserve now has egg on its face after it kept interest rates near a quarter-century high earlier this week. By now, there’s ample evidence that the job market, a key driver of the US economy, has lost steam. Here are three reasons to be worried about July’s shockingly weak jobs report — and one silver lining. Consumer demand itself also hasn’t weakened just yet, despite the highest interest rates in more than two decades. Generally, the Fed makes its decision congruent with what’s going on with inflation or the job market.

Persons: , July’s, ’, ”, Claudia Sahm, Sahm, Elizabeth Crofoot, Alicia Wallace, Jerome Powell, ” Crofoot, ” Michael Gapen, Matt Egan, weren’t, ” Truist’s Keith Lerner, they’ll, hasn’t, ” Chris Rupkey, Alan Blinder, Paul Krugman Organizations: New, New York CNN, Federal Reserve, Fed, Bloomberg, Bank of America, Dow, Nasdaq, Wall, Investors, Labor, Citigroup, JPMorgan Locations: New York, decelerate, American

☆ Fears grow Fed is too late to cut rates as bets increase for a half-point easing at next meeting
▼ + stars: | 2024-08-02 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

"A 50 basis point Fed cut in September is clearly justified as the labor market is now showing clear signs of softening," said Yung-Yu Ma, chief investment officer at BMO Wealth Management. The firm, which has long been saying the Fed will need to cut aggressively this year, expects another 50 basis point cut in November by a 25 basis point cut move in December. A basis point is 0.01 percentage point. The S & P 500 lost more than 2.5% and Treasury yields plummeted, sending the policy-sensitive 2-year note down more than a quarter percentage point to 3.91%. "It's very possible the Fed alters its inter-meeting communications on the balance of risks to remove all doubt [of] a September rate cut."

Persons: Yung, Yu Ma, David Donabedian, Preston Caldwell, David Rosenberg, Jerome Powell, Jamie Cox Organizations: Federal Reserve, Fed, Labor Statistics, BMO Wealth Management, Wall, Citigroup, CIBC Private Wealth, Morningstar, Rosenberg Research, Harris Financial

☆ Harris’ economic stance in spotlight as jobs data stirs concerns
▼ + stars: | 2024-08-02 | by ( Kayla Tausche | ) edition.cnn.com time to read: +8 min

The data also points a spotlight on the economic platform of Vice President Kamala Harris, who is poised to accept the Democratic presidential nomination this month amid signs of a slowing economy. But her economic views are less defined, maintaining broad references to strengthening the middle class, even as her record investigating Wall Street and her farther-left 2019 primary campaign platform have executives and investors on edge. According to those close to Harris, advisers and administration officials, Harris’ economic views were described as “pragmatic,” “centrist,” and even “pro-business,” with a goal of leveraging private-sector friendships for better outcomes at the ground level. Personnel as policyHarris has two staffers who manage economic and domestic policy issues, and she was briefed by staff on the most recent jobs data. “He is as close to Harris and the second gentleman as almost anyone in the administration,” said an official close to Harris.

Persons: Harris, Kamala Harris, ”, Mike Pyle, Don Graves, David Turk, Wally Adeyemo, Janet Yellen, Pyle, Brian Deese, Rohini Kosoglu –, Brian Nelson, Nelson’s, Nelson, “ That’s, Jason Furman, Barack Obama, Rohit Chopra, Massachusetts Sen, Elizabeth Warren, Biden, Vermont Sen, Bernie Sanders, –, “, she’s, Tom Vilsack, Vilsack, Ray McGuire, Lazard, Blair Effron, Jamie Dimon, “ She’s, Lina Khan, Harris “, Lina Organizations: CNN, Biden, Federal Reserve, Democratic, National Security Council, National Economic Council, ”, Commerce, Energy, Consumer Financial, Bureau, Vermont, Democratic Party, White, Commerce Department, Department of Agriculture, Wall Street, Centerview Partners, JPMorgan Chase, Naval Observatory, Meta, Target, Citigroup, eBay, Federal Trade Commission Locations: Massachusetts, Columbus , Ohio, Syracuse , New York, Georgia, Central America, Columbia, California

☆ Goldman Sachs adds 4 new stocks to its conviction buy list
▼ + stars: | 2024-08-01 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Goldman Sachs added four new stocks to its conviction list going into August for equity investors looking to capitalize on the bull market. Dollar General , Philip Morris International , S & P Global and Woodward were the newest addition to the Wall Street firm's coveted stock list. For Dollar General, Goldman analysts believe the worries around low income consumer discretionary spend and competition are overdone. Meanwhile, Goldman said the market is underappreciating the growth opportunity for Philip Morris as the company innovates around its smoke-free alternatives to cigarettes. Both S & P Global and Woodward have recorded solid gains so far this year, rising 11% and nearly 17%, respectively.

Persons: Goldman Sachs, Goldman's, Philip Morris, Woodward, Goldman Organizations: Dollar, Philip Morris International, P Global, Royal Caribbean Cruises, Ally Financial, Citigroup, Amazon, Nvidia

☆ Here's everything you need to know about Friday's big jobs report
▼ + stars: | 2024-08-01 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

The U.S. labor market may have cooled some in July, as a gradual slowdown in the economy and Hurricane Beryl are expected to have taken some of the steam out of hiring. Still, even if the Labor Department's nonfarm payrolls report for July, to be released Friday at 8:30 a.m. "You're seeing just modest on-the-margin weakness in the labor market that [isn't likely to] spiral out of control into a negative feedback loop." Citigroup projects an even lower number — 150,000 on payrolls and a tick higher in the unemployment rate to 4.2%. Should the unemployment rate keep climbing, it could raise fears that the so-called Sahm Rule is in danger of being triggered.

Persons: Hurricane Beryl, nonfarm, Mike Reynolds, Dow Jones, Goldman Sachs, Beryl Organizations: Amerant, Hurricane, Labor, Federal, department's Bureau of Labor Statistics, Citigroup Locations: Florida, Sunrise , Florida, The U.S, department's, Texas, Houston

☆ Bill Ackman won’t raise anything close to what he planned for his hedge fund IPO
▼ + stars: | 2024-07-30 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

New York CNN —Bill Ackman, billionaire hedge fund manager and chief executive of Pershing Square Capital Management, is seeking $2 billion to take the company’s investment fund public. In a letter to strategic partners last week, Ackman said that he expected to raise between $2.5 billion to $4 billion. The company will offer 40 million shares priced at $50 apiece, according to a Tuesday filing with the US Securities and Exchange Commission. That would be an additional $300 million value for the investment fund, Pershing Square USA. Pershing Square officially hung up its activist megaphone in 2022, opting to work with a small group of companies behind the scenes.

Persons: Bill Ackman, Ackman, ” Ackman, Pershing, — Organizations: New, New York CNN, Pershing, Capital Management, Wall, US Securities and Exchange Commission, Underwriters, Citigroup, Bank of America, Jefferies, USA, New York Stock Exchange, Herbalife, Trump Locations: New York, Israel

☆ Search competition fears hit Alphabet stock yet again. We see no reason to join the sellers
▼ + stars: | 2024-07-26 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

ChatGPT creator OpenAI on Thursday announced a prototype of its search engine, SearchGPT, in an effort to directly compete with Google Search. "Not really seeing any decline in web traffic away from web search" despite the popularity of AI chatbots," Marks said Friday. Alphabet's efforts to incorporate generative AI into Google Search — dubbed "AI Overviews" — are resonating with users, CEO Sundar Pichai said on the conference call. He added that people are looking for help with complex topics are engaging more and keep coming back for AI Overviews. To be sure, the AI threats to Google Search is not the only question on Alphabet investors' minds.

Persons: OpenAI, Jeff Marks, It's, Marks, OpenAI's SearchGPT, Bing, That's, Rosenblatt, Alphabet's, Sundar Pichai, Pichai, There's, Jim Cramer's, Jim Cramer, Jim, Idrees Abbas Organizations: Google, Microsoft, Nasdaq, Investor, Rosenblatt, Bing, Bank of America, Citigroup, Citi, Management, CNBC, Getty

☆ Bank of America's biggest clients are selling individual stocks and plowing money into ETFs in these 7 sectors instead
▼ + stars: | 2024-07-25 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

AdvertisementETF enthusiasmInstead of single stocks, clients across the board are putting their money into ETFs. Bank of AmericaEven though clients sold off individual small-cap stocks, they're not shying away from that size segment of the market at all. Clients invested more money in small-cap ETFs than large-cap ones, providing small-caps with the biggest boost since May of this year. Similarly, while individual tech stocks experienced a sell-off, tech ETFs saw the largest capital inflow out of all sectors last week. Small-cap ETFs include Vanguard Small-Cap Index (VSCIX) and Invesco S&P SmallCap 600 Revenue ETF (RWJ).

Persons: —, Jill Carey, Goldman Sachs Organizations: Service, Bank of America's, Bank of America, Equity, Business, JPMorgan, Citigroup, Big Tech, Health, Bank of America Investors, Communication, Fidelity MSCI Information Tech, NYSE Technology, Vanguard Infomation Technology, Vanguard

☆ European markets to open lower as investors weigh regional bank and U.S. tech earnings
▼ + stars: | 2024-07-24 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

LONDON — European markets are set to open lower on Wednesday as earnings season ramps up. The U.K.'s FTSE 100 was last expected to open 25 points lower at 8,137, while Germany's DAX was set to shed 76 points to 18,472 and France's CAC 40 was expected to open 54 points lower at 7,540. Italy's MIB index was set to to open 62 points lower at 34,799. Deutsche Bank , UniCredit, BNP Paribas and Banco Santander are among the European banks reporting earnings on Wednesday, alongside Easyjet , Iberdrola and Orange. On the data front, flash purchasing managers' index data is due to be released in the U.K. and the euro zone.

Persons: Germany's DAX, Easyjet Organizations: Citigroup Inc, State Street Corp, Barclays Plc, HSBC Holdings Plc, CAC, Deutsche Bank, BNP, Banco Santander Locations: Wharf, UniCredit, Iberdrola, Orange, Germany

☆ I ate at Keens Steakhouse, the ultimate spot for 'power lunches' in NYC. It's a great value even if you're not doing business.
▼ + stars: | 2024-07-23 | by ( Rachel Askinasi | ) www.businessinsider.com time to read: 1 min

In general, steak houses are a popular place for a power lunch. The interior of Keens still feels like an old-school social club. Rachel AskinasiWhat is a power lunch? And when you think about a place ripe for flexing a corporate card with no spending limit, any of New York City's legendary steak houses come to mind. Plus, the history of an old New York social club adds to its exclusive allure.

Persons: Rachel Askinasi Organizations: New York, Sixth, Citigroup, CBS, Colgate, Palmolive Locations: New, midtown, Midtown Manhattan, New York

☆ I went to Keens Steakhouse for the first time. After my $150 meal, I get why it's been around for over 100 years.
▼ + stars: | 2024-07-23 | by ( Rachel Askinasi | ) www.businessinsider.com time to read: 1 min

Persons: Rachel Askinasi Organizations: New York, Sixth, Citigroup, CBS, Colgate, Palmolive Locations: New, midtown, Midtown Manhattan, New York

☆ A Silicon Valley executive had $400,000 stolen by cybercriminals while buying a home. Here’s her warning
▼ + stars: | 2024-07-23 | by ( Hugh Son | ) www.cnbc.com time to read: +7 min

Real estate, with its large transaction sizes and frequent use of wire transfers, has proven to be an especially lucrative target for criminals. In early July, Robillard told CNBC she had no idea whether she would ever see her money again. Courtesy: Rana RobillardRobillard says she decided to publicize her story to boost awareness of real estate wire fraud, besides being a last-ditch attempt at getting her money back. "This is not what I thought my public representation would look like, which is that I've lost all this money," Robillard said. While Martinez, California-based Compass Mortgage denies being hacked, it acknowledged that the email with wire directions wasn't from them, according to Robillard.

Persons: Rana Robillard, she'd, Robillard, HackerOne, Fraudsters, Naftali Harris, Harris, Charles Schwab, she's, —, Robillard Robillard, I've, it's, should've, Kristy Aichinger, Aichinger, Kent Donahue, Donahue didn't Organizations: JPMorgan Chase, CNBC, Citigroup, Ally Bank, San, FBI, JPMorgan, Federal Trade Commission, Consumer Financial, Bureau, Chase, FTC, OS National, Opendoor, Robillard, Compass Mortgage Advisors, Mortgage Locations: Oakland, Orinda ,, California, Orinda, San Francisco, Real, Martinez

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