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☆ Stock market today: US stocks climb as wholesale inflation data shows big cooldown in prices
▼ + stars: | 2024-06-13 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The producer price index slid 0.2% month over month against forecasts of a 0.1% decrease. Tesla stock jumped as Elon Musk said on X his pay package was headed for approval. AdvertisementUS stocks continued their rally to record highs on Thursday after investors took in another cooler-than-expected inflation print. In May, the producer price index slid 0.2% month over month against forecasts of a 0.1% decrease. Tesla stock jumped more than 6% as Elon Musk said on X that his $56 billion compensation package was headed for shareholder approval.

Persons: Stocks, Elon Musk, —, Clark, Bellwether, DealBook Organizations: Service, Bloomberg, PPI, Federal Reserve, Treasury, Vanguard, BlackRock, Here's

☆ Here are 9 stocks that can benefit from Fed interest rate cuts
▼ + stars: | 2024-06-13 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Housing We see Stanley Black & Decker as a major beneficiary of Fed rate cuts due to its link to the housing market. On the one hand, lower rates mean a bank like Wells Fargo makes less money on the money it lends. Biotech Danaher should also see some benefit as lower rates lead to improved funding dynamics for biotech companies. Like in housing, monthly payments become far more manageable at lower rates, and therefore affordability and demand, stand to increase. Salesforce , which has also highlighted more measured deal activity, might not benefit as much from lower rates.

Persons: Jerome Powell, Stanley Black, Decker, Stanley, That's, Wells, Morgan Stanley, SVB, Ford, We're, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: Nasdaq, CNBC, Fed, Biotech, Silicon Valley Bank, Ford, Palo, Networks, Microsoft, Jim Cramer's Charitable, Bloomberg, Getty Locations: Wells, Wells Fargo, Silicon Valley, Colma , California

☆ Wholesale prices unexpectedly fell 0.2% in May
▼ + stars: | 2024-06-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

A measure of wholesale prices unexpectedly decreased in May, adding another piece of evidence that inflation is pulling back. The producer price index, a gauge of prices that producers get for their goods and services in the open market, declined 0.2% for the month, the Labor Department's Bureau of Labor Statistics reported Thursday. Excluding food, energy and trade services, the PPI was unchanged, compared with expectations for a 0.3% increase. From the wholesale perspective, the PPI was held back by a 0.8% decrease in final demand goods prices, which was the largest decline since October 2023. On the services side, fuels and lubricants retailing margins surged 12.2%, but that was offset in part by a 4.3% plunge in airline passenger services prices.

Persons: Dow Jones Organizations: Labor Department's Bureau of Labor Statistics, PPI, Stock, BLS, Federal Reserve, Labor Department

☆ How to invest in India, the world's fastest-growing major economy
▼ + stars: | 2024-06-13 | by ( Lucy Handley | In | ) www.cnbc.com time to read: +10 min

India has been dubbed the "perfect" emerging market to invest in, but it can be tricky for those outside the country to gain access. India's stock market has been making headlines this year, and for good reason. "India remains one of the best-performing equity markets this year, underpinned by the world's fastest-growing major economy and a resilient macro backdrop," said James Thom, senior investment director Asian equities at Abrdn, in a note to clients. Some of the top ETFs in North America include the Columbia India Consumer ETF , the First Trust India NIFTY 50 Equal Weight ETF and the BMO MSCI India ESG Leaders Index ETF . In Europe, the list includes the iShares MSCI India UCITS ETF , which provides exposure to around 85% of the stock market, and the Xtrackers MSCI India Swap UCITS ETF Capitalisation 1C .

Persons: Krishnamurthy Subramanian, Narendra Modi's, Kevin T, Carter, Goldman Sachs, James Thom, aren't, GDRs, Arjun Jayaraman, there's, Jayaraman, Abrdn's Thom, Surendra Goyal, Thom, EMQQ Global's Carter, Modi's, it's, Jonathan Pines, — CNBC's Ganesh Rao, Tuul, Bruno Morandi Organizations: CNBC Pro, IMF, Bharatiya Janata Party, EMQQ, CNBC, Wealthmills Securities, Global, Causeway, Mutual, Columbia India Consumer ETF, First Trust India, BMO, India, Nasdaq, Investors, Nokia, Bank of America, Citi, Edge, Reliance Industries, U.S ., Bank of India, Network18, Bank, Getty Locations: India, China, North America, Europe, Singapore, U.S, Indian, Chhatrapati Shivaji Terminus, Mumbai

☆ Housing costs are clouding an otherwise glowing economy
▼ + stars: | 2024-06-13 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

Despite all the good news, there’s one giant, inescapable reason why people don’t feel like the economy is as good as it actually is. Shelter costs — which include rent and an estimated cost of homeownership — were up 5.4% from a year ago. There are some early signs that the housing market is becoming a bit less stuck. At the same time, the one-two punch of inflation and high borrowing costs have discouraged first-time buyers, reducing competition for houses. Of course, as Powell noted in his speech Wednesday, it may take “years” for housing inflation to normalize.

Persons: CNN Business ’, We’re, supercore, doesn’t, —, “, ”, Jay Parsons, Jerome Powell, It’s, Orphe Divounguy, Zillow, ” Divounguy, Powell, There’s, Douglas Duncan, Fannie Mae Organizations: CNN Business, New York CNN, “ Locations: New York, Madera, Texas

☆ Tesla Share Price Is Its Own Referendum on Musk
▼ + stars: | 2024-06-13 | by ( Peter Eavis | Jack Ewing | ) www.nytimes.com time to read: +1 min

The Tesla shareholder vote over Elon Musk’s pay is in some ways a referendum on the performance of the company and its chief executive. Late on Wednesday, Mr. Musk claimed victory in a social media post, saying that votes in favor of his pay package were leading by “wide margins,” giving Tesla’s stock a boost. But even before the official results are announced on Thursday, Tesla’s flagging stock price shows that investors have plenty of doubts about Mr. Musk and the electric carmaker’s outlook. Tesla’s shares are down nearly 30 percent this year, even as the broader stock market is up 14 percent. At its peak in 2021, the stock market value of Tesla was $1.2 trillion, putting it in the company of tech giants like Microsoft, Apple and Google.

Persons: Musk, Tesla, Price Organizations: Elon, Microsoft, Apple, Google, Visa, Walmart

☆ I retired in my 30s with a net worth of $2.5 million over a decade ago. Now, I'm going back to work at 46.
▼ + stars: | 2024-06-12 | by ( Lauren Crosmedlicott | ) www.businessinsider.com time to read: +8 min

Read previewThis as-told-to essay is based on a conversation with Sam Dogen, a 46-year-old in San Francisco. It was easy to save money because I was working so muchI started saving only a month after starting at Goldman Sachs. A promotion and move to San Francisco got me on the property ladderIn June 2001, I was recruited to join Credit Suisse and moved to San Francisco. In 2005, I bought a house for $1,520,000 in San Francisco and rented my condo until I sold it in 2017. Having kids took up a lot of our passive income budgetOnce our son was born in 2017, we began spending more of our passive income.

Persons: —, Sam Dogen, I'd, Mary, Goldman Sachs, San Francisco, I've, I'm Organizations: Service, Business, College of William, San, Credit Suisse Locations: San Francisco, Virginia, USA, Manhattan

☆ How the economy will change under Trump vs Biden
▼ + stars: | 2024-06-12 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +6 min

And yes, a former president, Donald Trump, has been found guilty on felony charges. The US economy is expected to grow at double the rate of its G7 peers, according to the International Monetary Fund. Trump loved touting new Wall Street records; under Biden, the Dow hit over 40,000 for the first time. The president proposed hiking the corporate tax rate to 28%; billion-dollar companies would also face a higher corporate minimum tax. Some of the stock market and unemployment records that were set under Trump pre-COVID-19 have been surpassed by Biden.

Persons: Roe, Donald Trump, James Carville's, Biden, Joe Biden, Trump, qtN5DBOjAS — Heather Long, Jerome Powell, Powell Organizations: Service, ABC, Business, International Monetary Fund, Dow, Department of Agriculture, Auto, Federal Reserve, Union, Trump, Wall Street, NPR Locations: Russia's, Ukraine

☆ Inflation slows in May, with consumer prices up 3.3% from a year ago
▼ + stars: | 2024-06-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

The consumer price index showed no increase in May as inflation slightly loosened its stubborn grip on the U.S. economy, the Labor Department reported Wednesday. The monthly rate rose 0.3% in April while the annual rate was 3.3%. Though the top-line inflation numbers were lower for both the all-items and core measures, shelter inflation increased 0.4% on the month and was up 5.4% from a year ago. Housing-related numbers have been a sticking point in the Federal Reserve's inflation battle and make up a heavy share of the CPI weighting. Though the Fed doesn't use the CPI as its main inflation indicator, it still figures into the calculus.

Persons: Dow Jones, Price, Robert Frick, Joseph LaVorgna, FOMC Organizations: department's Bureau of Labor Statistics, Labor Department, Treasury, Dow Jones, Navy Federal Credit Union, Federal Reserve, CPI, Nikko Securities, Commerce Locations: U.S

☆ Stock market today: US stocks close at record highs after encouraging May inflation and Fed commentary
▼ + stars: | 2024-06-12 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

US stocks rose to fresh records Wednesday as traders took in cool inflation and Fed comments. AdvertisementUS stocks rose on Wednesday as investors took in cool inflation data and the Federal Reserve's latest guidance on rate cuts, helping the S&P 500 to another record close. The 10-year Treasury fell seven basis points to 6.33%, rising from steeper losses earlier in the day after the central bank updated its outlook to include fewer rate cuts than previously expected. FOMC members said they didn't believe it was "appropriate" to cut rates until they had gained more confidence inflation is trending back to 2%. Fed fund futures show that investors see a 62% chance the Fed will cut rates three times or more by year-end, according to the CME FedWatch Tool.

Persons: —, FOMC, Powell, Bill Adams Organizations: Service, Federal, Treasury, Fed, Comerica Bank Locations: April's

☆ There's a 'renaissance' coming for boring stocks. Here's how investors can position to take advantage, according to BofA.
▼ + stars: | 2024-06-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Bank of America predicts large-cap value stocks will start to outperform growth stocks. AdvertisementThe most boring area of the stock market is poised for a "renaissance" of outperformance, according to Bank of America. AdvertisementA hard landingAnother scenario in which value stocks should outperform is if the economy experiences a hard landing. That would likely lead to a sharp sell-off in growth-oriented stocks and the relative outperformance of value stocks. A world of structurally higher rates and inflation should bolster value stocks," Bank of America said.

Persons: —, Savita Subramanian, corporates, Banks, Ebrahim Poonawala, Consumer Staples, Staples, Subramanian Organizations: of America, Bank of America, Service, Equity, " Utilities, Energy, Banks, Consumer

☆ 5 things to know before the stock market opens
▼ + stars: | 2024-06-11 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

At Apple's annual Worldwide Developers Conference on Monday, the company unveiled "Apple Intelligence" – its long-awaited AI software. Apple CEO Tim Cook stressed privacy and personalization with the system, moving beyond AI into "personal intelligence." Siri will also be getting some upgrades with Apple Intelligence, and Apple announced that Siri will also be able to tap into ChatGPT when needed through the company's partnership with OpenAI. The activist hedge fund has taken a $1.9 billion stake in Southwest Airlines , which makes it one of the airline's biggest investors. This follows a number of other stakes the firm has built within the past two months, such as a $2.5 billion stake in Texas Instruments, a $2 billion stake in SoftBank and a $1 billion stake in Anglo American.

Persons: Tim Cook, John Giannandrea, Craig Federighi, Nic Coury, Siri, Elliott, Gary Hershorn, it's, Bob Jordan, Gary Kelly, Fred Tanneau, Stephane Bancel, Francis Scott Key, Michael A Organizations: Nasdaq, Dow Jones, Nvidia, Apple, Developers, AFP, Getty, Apple Intelligence, OpenAI, Max, Southwest Airlines, Hollywood International Airport, Corbis, Elliott Management, Texas, Moderna, Afp, Francis Scott Key Bridge, McCoy, Washington Post Locations: Cupertino , California, Fort Lauderdale, Fort Lauderdale , Florida, SoftBank, U.S, Baltimore

☆ Raspberry Pi London IPO: Why investors are going gaga over a tiny, $35 computer
▼ + stars: | 2024-06-11 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Investors are snapping up the shares of a British maker of tiny computers after it went public on the London Stock Exchange Tuesday. Raspberry Pi stock soared as much as 40% in early trade before paring those gains slightly by 11.54 a.m. The Cambridge-based company started life in 2012 as a commercial subsidiary of the Raspberry Pi Foundation, a charity founded four years earlier to promote computer science in schools. To date, Raspberry Pi has sold more than 60 million computers worldwide, according to its website. Raspberry Pi plans to invest the funds raised in developing its products and expanding its educational activities.

Persons: Pi, Eben Upton, “ It’s, ” Russ Mould, AJ Bell, haven’t, ” Organizations: London CNN —, London Stock Exchange, Pi, Pi Foundation, Industrial, University of Cambridge, Nasdaq, Cambridge University, Sony, SONY, CNN Locations: British, Cambridge, New York, London

☆ Stock market today: US stocks dip as 2-day Fed meeting kicks off
▼ + stars: | 2024-06-11 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Stock markets slipped as investors prepare for the Fed's June policy meeting. The FOMC meeting will end Wednesday, and will help determine where interest rates are going. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Investors are convinced that interest rates will remain unchanged, futures markets data shows. Upcoming inflation data on Wednesday should also help determine where interest rates are headed beyond in the coming months.

Persons: —, Jerome Powell, eyeing, Brent, Bitcoin Organizations: Service, Federal, Apple, West Texas, Treasury

☆ Wall Street’s facing an economic double-whammy this week
▼ + stars: | 2024-06-11 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

Despite the rare event, it’s unlikely the stock market will swing widely because of the economic two-fer, some investors say. Inflation showed signs of cooling in April after staying worryingly warm during the first quarter of this year. America’s rural hospitals keep getting attacked by cybercriminals. Microsoft said in a statement to CNN that it would provide free security updates for eligible rural hospitals, as well as security assessments and training for hospital staff. Google will provide free cybersecurity advice to rural hospitals and start a pilot program to match the firm’s cybersecurity services with the needs of rural hospitals.

Persons: Powell, ”, Dave Sekera, Alicia Wallace, Sean Lyngaas, Michelle Watson Organizations: CNN Business, Bell, New York CNN, Federal Reserve, CPI, Bank of America, Morningstar, Investors, Traders, Fed, UBS, Federal Reserve Bank of New, The, Consumer, cybercriminals, Microsoft, Google, White, CNN, White House National Security Council Locations: New York, pare, Federal Reserve Bank of New York, York, United States

☆ Stock market today: S&P 500 closes at a record high as investors await the latest Fed decision, May CPI
▼ + stars: | 2024-06-11 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The S&P 500 and Nasdaq notched new highs Tuesday as investors geared up for the Fed's policy decision. Shares of Apple soared as much as 7% as Wall Street cheered its WWDC event. AdvertisementUS stocks were mostly higher Tuesday, with the S&P 500 and Nasdaq hitting all-time highs as traders looked ahead to the Federal Reserve's latest policy decision. If so, that will be below the recent highs of 3.7% from September and October, but still well above the 3% recorded last July, and way above the Fed's own 2% target. The firm's unveiled developments were met with fanfare on Wall Street, and the stock jumped as much as 7%.

Persons: —, Jerome Powell, David Morrison, Apple Organizations: Nasdaq, Apple, Service, Federal

☆ Mega-cap stocks are overvalued and risk a big correction, according to a CIO. Here's why that presents a 'monstrous' buying opportunity.
▼ + stars: | 2024-06-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

The stock market's leaders are overvalued and could suffer a big correction, RBA's Richard Bernstein said. The RBA chief investment officer pointed to a discrepancy between the debt and equity markets, which could hint at a soon-to-come market correction. But, only a narrow group of stocks are dominating the equity market, which implies profits aren't expanding for most companies. While large-cap stocks tanked during the lost decade of the 2000s, small-cap, energy, and emerging market stocks did exceedingly well. In a previous note, he said the stock market's shifting leadership from the most-hyped names to underloved equities presents once-in-a-generation opportunity for investors.

Persons: RBA's Richard Bernstein, —, Richard Bernstein, Bernstein, Goldman Sachs, Goldman Sachs Research Bernstein, Russell Organizations: Service, Wall Street, Apollo, Bloomberg, Goldman Sachs Research, Nasdaq

☆ Apple poised to beat Nvidia and rest of Magnificent Seven from here, BTIG says
▼ + stars: | 2024-06-11 | by ( Sean Conlon | ) www.cnbc.com time to read: +1 min

The tide's turning in Apple 's favor, with the iPhone maker poised to outperform AI chipmaker Nvidia , according to a chart analyst at BTIG. So far in 2024, Tim Cook's company is ahead less than 7% while Nvidia has soared 144%. AAPL NVDA 5Y mountain Apple vs Nvidia over past five years. Krinsky, whose note was published before the stock market opened Tuesday but after Apple debuted its latest artificial intelligence plans on Monday, said Apple was poised to break out to a new high. In trading Tuesday, Apple climbed as much as 6.7% to a record $206.03 intraday, scoring its first all-time high since last December.

Persons: Jonathan Krinsky, Tim Cook's, Krinsky, Apple Organizations: Apple, Nvidia

☆ Here's what investors expect from the stock market after the Fed decision Wednesday
▼ + stars: | 2024-06-11 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

Broadly speaking, market observers expect that investors have already priced in how the Fed may proceed with interest rates. So long as this week's Fed meeting sticks to the consensus view, many observers expect stocks will breathe a sigh of relief. "This is one of the busiest of the days on Wednesday," said Art Hogan, chief market strategist at B.Riley Financial. Possibility for surprise Of course, the Fed meeting still has the potential to surprise investors. ET Wednesday while the Fed meeting wraps up at 2:00 p.m. and Powell's press conference starts a half hour later.

Persons: shrugging, Hogan, Dave Sekera, it's, Riley's Hogan, ChairJerome Powell, Powell, hasn't, Brian Nick, Nick, —, I'd, Jeff Klingelhofer, Klingelhofer, Joshua Roberts Organizations: Federal Reserve, B.Riley, Morningstar, Fed, Macro, Bureau of Labor Statistics, Nvidia, Thornburg Investment Management, Federal Locations: U.S, Washington ,

☆ Stock market today: S&P 500 and Nasdaq close at record highs ahead of Fed meeting, May inflation report
▼ + stars: | 2024-06-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks started the week with gains as the S&P 500 and Nasdaq hit record highs. The all-time highs come ahead of the May inflation report and the Fed's two-day FOMC Meeting. AdvertisementUS stocks climbed to kick the week, with the S&P 500 and Nasdaq 100 closing at record highs. Earlier that day, investors will digest the May consumer price index report, which will set the tone for markets as investors head into the summer months. Economists expect Core CPI to have risen 0.3% month over month last month.

Persons: —, Morningstar, Dave Sekera, Jerome Powell, Sekera, Dan Ives, Ives Organizations: Nasdaq, Apple, Service, Federal Reserve, CPI, Here's

☆ Analysts are warning there could be zero rate cuts in 2024 - and stocks could suffer if the Fed doesn't move
▼ + stars: | 2024-06-10 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Some analysts are eyeing zero rate cuts from the Fed this year. AdvertisementAfter the latest jobs report all but dismissed an interest rate cut in July, some analysts are taking it a step further, and expect no rate cuts at all this calendar year. That's more pessimistic than what investors continue to bet on, with fed fund futures indicating at least one 25-basis point rate cut to occur in 2024. According to market veteran Ed Yardeni, the Federal Reserve should "take a vacation," and leave interest rates unchanged through 2024, he told CNBC-TV18. AdvertisementMeanwhile, Catalyst Capital's David Miller agreed that the Fed shouldn't cut interest rates in 2024, citing that this would allow inflation to run hotter.

Persons: RBC's Lori Calvasina, —, That's, It's, Lori Calvasina, Ed Yardeni, Capital's David Miller, Mark Zandi, I've Organizations: Service, Bloomberg, Treasury, Federal, CNBC, TV18, Yardeni Research, Moody Analytics, Federal Reserve

☆ The Fed, May inflation, and Apple are set to lead a massive week for the stock market
▼ + stars: | 2024-06-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The May CPI report, crucial for Fed decisions on rate cuts, is set to be released Wednesday. This week has a Fed meeting, the May PPI, initial jobless claims, and a consumer-sentiment report. AdvertisementIt's shaping up to be a big week for the stock market, with a slew of economic data set to be released, along with a Fed meeting and an all-important Apple event. The Fed meetingThe Fed plans to announce its latest decision on interest rates on Wednesday at 2 p.m. Overall, Lee is feeling good about the prospects for higher stock prices this week amid the economic dataset's release.

Persons: Apple's, —, Apple, Tom Lee, Jerome Powell, Lee, it's Organizations: CPI, Service, Apple, Federal Reserve, Fed, University of Michigan

☆ There's a stock market crash coming in 2025 as the 'bubble of all bubbles' bursts, economist says
▼ + stars: | 2024-06-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The US is poised to see an epic stock market crash next year, according to Harry Dent. AdvertisementThe stock market could be in for a steep correction, resulting in a crash even worse than what investors saw during the Great Financial Crisis, according to economist Harry Dent. "Hero" stocks, like chipmaker Nvidia, could drop as much as 98%, he said, implying a multi-trillion market crash. "We've got to see a crash of about 40% to say, okay, the bubble's finally let off the steam. "This is really the second tech bubble version," he added, referring to the dot-com bubble in the 2000s."

Persons: Harry Dent, —, Dent, We've, " Dent Organizations: Service, Harvard Business School, Nasdaq, Nvidia, Fox Business Network

☆ Stock market today: US stocks edge lower ahead of Apple event, economic data
▼ + stars: | 2024-06-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks fell as bond yields increased ahead of a big week of updates for the market. Investors are eyeing Apple's WWDC event, a Fed meeting, and key inflation reports this week. The Fed is expected to leave rates unchanged but officials will offer more insight into future moves. AdvertisementUS stocks edged lower while bond yields rose ahead of a big week for the market. Investors will have to navigate Apple's WWDC event, a Federal Reserve meeting, and multiple inflation reports this week, all of which could shake up stock prices.

Persons: —, David Morrison Organizations: Service, Investors, Reserve, CPI, Fed, Trade Nation

☆ Laggard Southeast Asian markets will catch up in the second half, analyst says
▼ + stars: | 2024-06-10 | 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 EmailLaggard Southeast Asian markets will catch up in the second half, analyst saysAnand Pathmakanthan, Maybank Investment Banking Group's regional head of equity research, explains why Southeast Asian stock markets are likely to see significant upside.

Persons: Anand Pathmakanthan Organizations: Maybank Investment Banking

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