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☆ Don't own the AI chip leaders? Jim Cramer says this might be your chance to act
▼ + stars: | 2024-10-15 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. "This is a very cheap stock versus Nvidia" Jim Cramer said. 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, Jim, Johnson, Goldman Sachs, Jim Cramer's Organizations: CNBC, Nvidia, Devices, Bloomberg, AMD, Texas, Coterra Energy, Analysts, YouTube, Federal, Dow, Johnson, Bank of America, Walgreens Locations: Persian, Israel, U.S

☆ 5 reasons why inflation will be stickier than expected going forward, Deutsche Bank says
▼ + stars: | 2024-10-14 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Investors need to be wary as sticky inflation remains a risk, Deutsche Bank says. But it's not yet time for investors to relax, Deutsche Bank wrote on Monday. "If inflation does return, this could have very important implications for markets," Deutsche Bank strategists said. While that much is true, history shows that easing cycles are precisely the time to be cautious over inflation, Deutsche said. The firm cited the fact that in August, US M2 money supply rose 2.0% year-over-year, the highest growth rate since September 2022.

Persons: —, Brent, Deutsche Organizations: Deutsche Bank, Service, Federal Reserve, Deutsche, Atlanta Locations: China, Israel, Iran, Iranian

☆ Cramer says reports from Wells Fargo and JPMorgan are 'good omens' for earnings season
▼ + stars: | 2024-10-14 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Monday reviewed quarterly reports from two of the biggest names in the financial sector, JPMorgan and Wells Fargo . He said he was excited by both banks' performance and suggested their success means earnings season will bring more positive news. "While these quarters were certainly good news for JP Morgan and Wells Fargo, I think they're also good omens for earnings season and the market overall," he said. Like JPMorgan, Wells Fargo beat Wall Street's expectations last week. "Rather than getting bogged down in the details, it's better to focus on the positive overall picture, which is exactly what happened on Friday.

Persons: CNBC's Jim Cramer, JP Morgan, Wells Fargo, they're, Cramer, Wells Fargo's Organizations: JPMorgan, Wells, Federal Locations: Wells Fargo

☆ European Central Bank set for third interest rate cut of the year in meeting this week
▼ + stars: | 2024-10-14 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

European flags flutter in front of the European Central Bank (ECB) building prior to a news conference following the meeting of the governing council of the ECB in Frankfurt/Main, Germany, on September 12, 2024. Daniel Roland | Afp | Getty ImagesThe European Central Bank is on course to deliver its third interest rate cut of the year at its meeting this Thursday, as policymakers say inflation risks are easing faster than previously expected. Headline price rises in the euro area cooled to 1.8% in September, below the central bank's 2% target. Bank of France Governor Francois Villeroy de Galhau last week described an October rate cut as "very likely" and said such a step "won't be the last." This led him to forecast ECB rate cuts will take place both this week and at each of the central bank's forthcoming meetings, until the deposit rate hits 2.5%.

Persons: Daniel Roland, Francois Villeroy de Galhau, Villeroy, Christine Lagarde, Joachim Nagel, Germany's Bundesbank, Jack Allen Organizations: European Central Bank, ECB, Afp, Getty, Bank of France, France, European Union, Citi, Media, U.S, U.S . Federal, Barclays, Capital Economics, Reynolds, Bank of America Global Research Locations: Frankfurt, Main, Germany, U.S .

☆ CNBC Daily Open: With an unchanged PPI, the Fed’s near the finish line
▼ + stars: | 2024-10-14 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Winning week for marketsAll major U.S. indexes rose Friday on the back of encouraging inflation data and positive earnings from big banks. That gave them a winning week. Banks' earnings in good shapeJPMorgan Chase , the biggest bank in the U.S., reported third-quarter earnings and revenue that beat estimates.

Persons: Tesla's, Tesla, Elon Musk, Musk, of Finance Lan Fo'an, Lan, Banks, JPMorgan Chase, Wells Fargo, Goldman Sachs, Morgan Stanley Organizations: New York Stock Exchange, CNBC, of Finance, JPMorgan, It's Bank of America Locations: New York, Asia, Pacific, Shanghai, Beijing, China, U.S

☆ Opimas CEO says U.S. economy is in 'very good shape'
▼ + stars: | 2024-10-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOpimas CEO says U.S. economy is in 'very good shape'Octavio Marenzi, the CEO of Opimas, says the Federal Reserve's 50 basis points rate cut in September might have been premature.

Persons: Octavio Marenzi

If you're part of an online bank, transactions aren't processed on holidays. We've included a list of holidays when most banks (including the best banks in the U.S) close, plus alternatives for accessing cash if you need money quickly. Others, like TD Bank and Regions Bank, have separate pages with bank holiday schedules. Most banking transactions don't process on bank holidays, regardless of whether you use an online or brick-and-mortar bank. Transactions at brick-and-mortar banks like Chase, Wells Fargo, and Bank of America won't be processed until the next business day.

Persons: We've, Martin Luther King, Jr, doesn't, Sophia Acevedo, Sophia, Axel Springer, Education Sophia, Kit Pulliam, They’ve, Kit Organizations: Federal Reserve, Columbus, Indigenous Peoples, TD Bank, Regions Bank, Ally Bank, Bank of America, Business, Finance, Bank, Savings, Education, California State University Fullerton, National Association of Hispanic Journalists, Angeles, Pulliam, Tax, MSN, Vanderbilt University Locations: U.S, Chase, Wells Fargo, California

☆ Why economists and strategists still say a recession is postponed, despite a startling inflation report
▼ + stars: | 2024-10-13 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Contradictory messages about inflation and the labor market have investors on guard. Price growth is slowly falling from its peak, but it exceeded expectations in September after a hot reading in August. AdvertisementInflation is a threat that won't sink the economyWhile there's plenty of economic data to get excited about, persistent price growth is a problem. "If we're going to be data dependent, we have to at least look at the data," Sosnick said. Higher-than-hoped inflation is rarely compatible with an economic downturn, so if price growth does persist, it likely won't be in an earnings-crushing contraction.

Persons: —, Steve Sosnick, they've, John Kerschner, Janus Henderson, Sosnick, Preston Caldwell, Morningstar's, Jim Baird, Plante, Baird, Joe Quinlan —, Skyler Weinand, Regan, Weinand, We've Organizations: Service, US, of Labor Statistics, Federal Reserve Bank of Atlanta, Interactive Brokers, Business, Manufacturing, Index, Janus, Janus Henderson Investors, Equity, Financial, Merrill, Private Bank, Bank of America, Regan Capital, Fed Locations: China

☆ Warren Buffett's Bank of America position goes under wraps. Here's what could happen next
▼ + stars: | 2024-10-13 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

Berkshire Hathaway's Bank of America stake has finally been cut to below the key 10% threshold, keeping Warren Buffett's next potential moves under wraps for a few months. The first 700 million shares had a low cost basis of only about $7 per share, while the average cost of the next 300 million shares was in the $30s, Goldberg estimated. "When we sell something, very often it's going to be our entire stake," Buffett said in 2020 when he entirely dumped his holdings in airlines. Still, Buffett sounded negative towards banking following 2023's regional bank crisis that took down Silicon Valley Bank, Signature Bank and First Republic Bank. It's gotten changed by [the regional bank crisis].

Persons: Warren Buffett's, Brian Moynihan, Jason Goldberg, Buffett, Goldberg, It's, That's, digitalization, fintech, Goldman Sachs, Wells Organizations: Berkshire Hathaway's Bank of America, Bank of America, Barclays, Federal, Bank, Signature Bank, First Republic Bank, JPMorgan, U.S . Bancorp Locations: Berkshire, Charlotte, Wells Fargo, U.S

☆ A portfolio manager at a $21 billion firm warns the odds of a recession have risen to 40% from 20% as inflation and geopolitical concerns surge — and shares where he's investing
▼ + stars: | 2024-10-12 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

Zehrid Osmani, a portfolio manager at the $21 billion investment manager Martin Currie, has actually increased his recession odds. US-China tensions are escalating over Taiwan, home to the world's largest semiconductor foundry, Taiwan Semiconductor Manufacturing Company. Osmani sees what he calls "seismic thematic shifts" in these areas. And Osmani sees potential for parts of the market driving the energy transition, such as alternative energy and electric vehicles. AdvertisementHis top picks include Nvidia (NVDA), Microsoft (MSFT), chemical company Linde plc (LIN), and industrial manufacturing company Atlas Copco (ATLKY).

Persons: Martin Currie, —, Goldman Sachs, Jan Hatzius, Zehrid, Currie, hasn't, Osmani Organizations: Service, Technology, Taiwan Semiconductor Manufacturing Company, Semiconductors, Nvidia, Microsoft, Linde, LIN, Atlas, Martin Currie Global Portfolio Trust Locations: Europe, Russia, Ukraine, Israel, China, Taiwan

☆ JPMorgan Chase is set to report third-quarter earnings – here's what the Street expects
▼ + stars: | 2024-10-11 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

JPMorgan Chase is scheduled to report third-quarter earnings before the opening bell Friday. The biggest American bank has thrived in a rising rate environment, posting record net income figures since the Fed started hiking rates in 2022. Now, with the Fed cutting rates, there are questions as to how JPMorgan will navigate the change. Last month, JPMorgan dialed back expectations for 2025 net interest income and expenses, and analysts will want more details on those projections. Wells Fargo is scheduled to release results later Friday, while Bank of America , Goldman Sachs , Citigroup and Morgan Stanley report next week.

Persons: Chase Jamie Dimon, JPMorgan Chase, Jamie Dimon's, Wells Fargo, Goldman Sachs, Morgan Stanley Organizations: Chateau, JPMorgan, LSEG Revenue, Trading, American, Fed, KBW, Bank of America, Citigroup Locations: Versailles, Paris, Wells

☆ Inflation reports from this week should allow the Fed to stay on track with rate cuts
▼ + stars: | 2024-10-11 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Investors who fear stubborn inflation, if not an outright rebound, got a bit of a salve on Friday morning. Wholesale prices showed no change month over month for September, coming in below expectations. The producer price index report may help offset some of the slight concerns about Thursday's consumer price index report, which was a bit hotter than expected. The personal consumption expenditures price index for September will be released on Oct. 31. "We think the Fed is really still on track to cut 25 [basis points] at each of the next two meetings," Seif added.

Persons: David Seif, Seif, Wells Organizations: Nomura Securities, Fed, PPI, Traders, JPMorgan Chase, BNY Mellon Locations: Wells Fargo

☆ CIO says 25 basis point cuts by the Fed seem likely but don't rule out another surprise
▼ + stars: | 2024-10-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCIO says 25 basis point cuts by the Fed seem likely but don't rule out another surpriseFabiana Fedeli, chief investment officer for equities, multi-asset and sustainability at M&G Investment, comments on the Federal Reserve's next moves.

Persons: Fedeli Organizations: G Investment, Federal

☆ Wholesale prices were flat in September, below expectations
▼ + stars: | 2024-10-11 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

A measure of wholesale prices showed no change in September, pointing to a continued easing in inflation, the Labor Department reported Friday. The producer price index, which measures what producers get for their goods and services, was flat for the month and up 1.8% from a year ago. Within the PPI, a 0.2% decline in final demand goods prices offset a 0.2% increase in services. A 3% jump in deposit services costs pushed the services index higher, while professional and commercial equipment wholesaling prices tumbled 6.3%. Similarly, the index for gasoline fell 5.6%, holding back gains on the goods index.

Persons: Dow Jones Organizations: Labor Department, PPI, Fed

☆ Gold ticks up, U.S. inflation data in focus
▼ + stars: | 2024-10-10 | by ( ) www.cnbc.com time to read: +2 min

Gold prices nudged higher on Thursday, while traders await a key U.S. inflation data due later in the day to gauge the Federal Reserve's future monetary policy stance. Spot gold rose 0.2% to $2,614.00 per ounce by 0246 GMT, after easing for the previous six sessions. The U.S. Consumer Price Index for September is due at 1230 GMT and Producer Price Index data on Friday. Markets see an 80% chance of a 25-basis-point Fed rate cut in November. Dallas Fed Bank President Lorie Logan called for gradual cuts and said that the U.S. central bank should not rush.

Persons: Price, Ilya Spivak, Spivak, Mary Daly, Lorie Logan, Israel's Organizations: U.S, Consumer, Treasury, Fed, San Francisco Fed Bank, Dallas Fed Bank Locations: U.S, Iran

☆ Treasury yields slightly higher as investors await inflation data
▼ + stars: | 2024-10-10 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

The 10-year Treasury yield was almost a basis point higher at 4.072%, while the 2-year Treasury was virtually flat at 4.013%. U.S. Treasury yields were mixed Thursday as investors continued to digest meeting minutes from the Federal Reserve and awaited fresh inflation data. 10-year Treasury yields have been climbing steadily over recent days, jumping to 4% on Monday after last week's stronger labor market readings, and following the Fed's cut. In recent days, it has hit its highest level in more than two months. Investors are looking ahead on Thursday morning to fresh consumer price index data to get a handle on the current course for inflation.

Organizations: Treasury, U.S, Federal Reserve, Federal

☆ Stock market today: Indexes close lower after CPI shows sticky inflation in September
▼ + stars: | 2024-10-10 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Indexes slipped Thursday as investors priced in a higher-than-expected inflation reading. The data raises the possibility of a "no landing" scenario for the US economy. AdvertisementStocks fell on Thursday from records reached in the previous session, as traders took in a sticky inflation reading for September. September consumer price index data released on Thursday showed inflation rose 2.4% year-over-year, slightly above consensus forecasts of a 2.3% rise. AdvertisementThe core CPI reading, which excludes more volatile food and energy costs, was up 3.3% year-over-year and just above forecasts of 3.2%.

Persons: —, Stocks, Hurricane Milton, Jamie Dimon, Buffett Organizations: Traders, Service, Dow Jones, Nasdaq, Dow, CPI, Federal Reserve, Bank of America, Investors, Labor Department, Here's, Insurance Locations: Hurricane

☆ European markets set for higher open as investors brace for U.S. inflation data
▼ + stars: | 2024-10-10 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European markets are heading for a positive open Thursday as investors await the latest U.S. inflation data for more signs that price pressures are easing. Economists polled by Dow Jones anticipate a 0.1% increase on a monthly basis, and a 2.3% advance over the prior 12 months. The result will also inform the Federal Reserve's next steps on policy at its November meeting. Fed funds futures trading data suggests a roughly 70% likelihood of a quarter-point cut, according to CME Group's FedWatch tool. U.S. stock futures were little changed Wednesday night, while Asia-Pacific markets opened mostly higher on Thursday, buoyed by gains on Wall Street on Wednesday.

Persons: Dow Jones Organizations: Federal, Dow Jones Locations: Asia, Pacific

☆ Fed minutes: Aggressive rate cuts don't feel right, strategist says
▼ + stars: | 2024-10-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed minutes: Aggressive rate cuts don't feel right, strategist saysDhaval Joshi, chief strategist at BCA Research, discusses the minutes from the Federal Reserve's September meeting and the state of the U.S. economy.

Persons: Dhaval Joshi Organizations: BCA Research, Federal Locations: U.S

☆ These stocks reporting earnings next week have a history of beating expectations
▼ + stars: | 2024-10-10 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Earnings season is heating up, and investors' expectations are strong leading up to several financial reports due next week. For the third quarter, the estimated year-over-year earnings growth rate for the S & P 500 is 4.2% — which would mark the fifth straight quarter of year-over-year earnings growth for the index if it happens, according to FactSet. Nearly half of S & P 500 companies that will report earnings this week are financials. Alexopoulos has an overweight rating and Dec. 2025 price target of $100.00 on the mid-sized bank, which suggests shares can gain 19.4%. Their average price target suggests just 3.4% potential upside over the next year.

Persons: It's, Steven Alexopoulos Organizations: Investment, Citizens, FactSet, CNBC, Western Alliance, JPMorgan

☆ We see a driver for AMD stock coming up — plus, what's behind the continued market rally
▼ + stars: | 2024-10-09 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

With oil prices sliding and China's market giving back more of its recent gains, U.S. stocks have been free to rally. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the 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, it's, Morgan Stanley, Vimal Kapur, Kapur, Wedbush, Jim Cramer's, Jim Organizations: CNBC, ., Federal, Fed, CME Fed Watch, Honeywell, Nvidia, Broadcom, AMD, Bank of America, Oracle, Microsoft, ZT Systems, PPI, Jim Cramer's Charitable Locations: Wells Fargo, Turin

☆ Stock futures are little changed as September consumer inflation report looms: Live updates
▼ + stars: | 2024-10-09 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during morning trading in New York City. U.S. stock futures were little changed Wednesday night as investors looked ahead to the release of September's consumer price index report. Futures tied to the Dow Jones Industrial Average traded near the flatline. Fed funds futures trading data suggests a roughly 70% likelihood of a quarter-point cut, according to CME Group's FedWatch tool. Economists polled by Dow Jones see core CPI, which excludes food and energy prices, rising by 0.2%.

Persons: Dow, Dow Jones, Stephanie Roth Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Federal, Wolfe Research, Delta Air Lines Locations: New York City . U.S

Meanwhile, Jefferies began coverage of Reddit with a buy rating and a price target of $90. Champine said the Federal Reserve lowering interest rates was a driving force for the price target changes. Analyst William Kerr initiated coverage of the pet ecommerce retailer with a buy rating and $38 price target. RBLX YTD mountain RBLX in 2024 — Alex Harring 5:50 a.m.: Citi says UPS is a buy Buy the dip on UPS shares, according to Citi. Analyst Ariel Rosa initiated the delivery giant with a buy rating and a price target of $162.

Persons: Jefferies, Laura Champine, Champine, Helene, Milton, Lowe's, — Alex Harring, Piper Sandler downgrades Blackstone Piper Sandler, Crispin Love, Love, Blackstone, Morgan Stanley, Sanjit Singh, Singh, Alex Harring, TD Cowen, William Kerr, Kerr, Benjamin Soff, Soff, Ken Gawrelski, Gawrelski, Roblox, Ariel Rosa, Rosa, — Fred Imbert, John Colantuoni, Colantuoni, EBITDA Organizations: CNBC, Wednesday, Citi, UPS, Capital, Federal Reserve, Blackstone, Industry, Deutsche Bank, New York Times, Amazon Logistics, Walmart Locations: Wells, China, Tuesday's

☆ Stock market today: US stocks close at all-time highs ahead of key inflation update
▼ + stars: | 2024-10-09 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Indexes hit fresh all-time highs ahead of the key inflation report for September due Thursday. AdvertisementUS stocks jumped on Wednesday as traders looked ahead to coming inflation data and took in the minutes of the Federal Reserve's last meeting. The stakes of the next inflation reading have risen after the big September jobs number, and Wall Street could be in for some volatility in the event of an upside surprise, Bank of America said this week. Central bankers predicted inflation would fall to 2% by 2026, while risks to economic strength were "tilted to the downside." According to the CME FedWatch tool, the odds for another jumbo-sized rate cut in 2024 have fallen to zero.

Persons: —, Josh Hirt, Oliver Allen Organizations: Service, Dow Jones Industrial, Investors, Nasdaq, Justice, Treasury, Here's, Fed, Bank of America, Vanguard, Pantheon

☆ Gold lacks momentum as investors brace for Fed minutes
▼ + stars: | 2024-10-09 | by ( ) www.cnbc.com time to read: +2 min

Gold prices slipped on Thursday as investors booked profits after a sustained rally and pressure from institutional investors looking to raise cash, while focus shifted to U.S. economic data for clues on the Federal Reserve's rate path. Gold prices were subdued on Wednesday as investors strapped in for minutes from the Federal Reserve's latest policy meeting for insights into the U.S. central bank's interest rate trajectory. "Gold prices seem to be seeing a much-needed retracement lower. Boston Fed President Susan Collins said on Tuesday that weakening inflation trends make it likely the U.S. central bank can implement further interest rate cuts. Zero-yield bullion tends to thrive in a low interest rate environment.

Persons: I'm, Matt Simpson, Simpson, Susan Collins Organizations: Federal, Index, Traders, U.S . Consumer, Boston, Gold Locations: U.S, North America

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