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High-profile strikes by writers and actors against Hollywood brought the union power to the mainstream as pictures of celebrities holding picket signs flooded social media. But one big win continues to elude labor: the need to translate its rising popularity into an increase in rank-and-file union membership, which has stagnated in recent decades. It's not a lack of support from the public that's holding unions back from making more progress in growing their ranks. Even before the big wins of 2023, polling conducted in recent years showed rising union popularity, with support at its highest level since 1965, according to 2022 data from Gallup. 'The Great Reset'In 2023, it was a banner year for American workers who support the labor movement.
Persons: Biden, , Heidi Shierholz, I've, Thomas Kochan Organizations: United Auto Workers, UAW, Local, Chrysler Corporate, Division, Hollywood, UPS, Teamsters, Bureau of Labor Statistics, Union, Economic Policy Institute, Gallup, AFL, CIO, MIT Sloan School of Management, Cornell, ILR, SAG, Writers Guild of America Locations: Ontario , California, American, Michigan, America
A decision by such voters that they cannot morally support Biden over this single issue could have a significant impact. “We should … not forget how President Biden beat Trump in 2020. Accepting what liberals see as draconian Trump-style restrictions on asylum would be viewed as a betrayal by many in Biden’s coalition. A CNN survey in November, for example, showed Biden led Trump among Black voters 73% to 23%. Latino voters favored Biden over Trump by only four points in the poll compared to 33 points in the 2020 election.
Persons: Donald Trump’s, Joe Biden’s, , Trump, Biden, Biden’s, Covid, Quentin Fulks, , ” Fulks, Donald Trump, MAGA, Israel epitomizes, didn’t, Pramila Jayapal, ” Jayapal, CNN’s Manu Raju, Trump’s, Nikki Haley’s, Lyndon Johnson, , Hank Naughton, Naughton, , ” Naughton, Trump won’t, Kamala Harris, Harris, “ Joe Biden, Shawn Fain, Chuck Morse, officeholder, ” Morse, ” Dominick Lombardi, Lombardi Organizations: CNN, White, Republican, Democratic, Local, Republicans, White House, Trump, GOP, Congressional Progressive Caucus, Biden, Black, Electoral College, South Carolina Gov, America, United Auto Workers, Pew Research Center, Pacific Islander, , Orange Republican Party Locations: Gaza, New Hampshire, Israel, Trump, Wisconsin, Georgia, Arizona, Florida, Michigan, Washington, New Haven County , Connecticut
U.S. President Joe Biden speaks to United Auto Workers members at the UAW's Community Action Program (CAP) legislative conference in Washington, U.S., January 24, 2024. The United Auto Workers union is endorsing President Joe Biden for reelection this year, UAW President Shawn Fain announced Wednesday at a union conference in Washington, D.C."Today, I'm proud to stand up here with your International Executive Board and announce that the UAW is endorsing Joe Biden for President of the United States," Fain said. "We will reelect Joe Biden." "Look, I kept my commitment to be the most pro-union president ever," Biden said following the endorsement announcement. Biden threw his own punches at Trump, who he expects to face in a general election rematch in November.
Persons: Joe Biden, Shawn Fain, Fain, reelect Joe Biden, shouldn't, Biden, Nikki Haley, Trump, Donald Trump Organizations: United Auto Workers, International, UAW, Democratic, New, Trump, South Carolina Gov, Republican Locations: Washington , U.S, Washington ,, United States, New Hampshire, Michigan, Detroit, America
Hours after, he was projected to win the New Hampshire primary race even though his name wasn’t on the ballot. “In politics, you run like you’re down when you’re winning or when you’re losing,” Biden campaign co-chair Cedric Richmond said Wednesday. “I think President Biden’s going to help people win, in the end. That is part of what influenced the decision, announced Tuesday, to shift two key West Wing advisers from the White House to Biden’s campaign. But one thing Biden’s teams believe will help center their arguments is a clearer race between Biden and Trump.
Persons: Joe Biden, Donald Trump, Biden, Janet Yellen, you’re, ” Biden, Cedric Richmond, “ We’re, , Nikki Haley’s, Quentin Fulks, Gaza Biden, Joe ”, Debbie Dingell, Jake Tapper, Dingell, Biden’s, We’ve, we’ve, , Jen O’Malley Dillon, Mike Donilon, David Axelrod, Barack Obama, that’s, Lyndon Johnson, Jim Clyburn, Trump, he’s, milkshake Organizations: Washington CNN, Trump, Republican, New, United Auto Workers, UAW, White, Michigan Democrat, ” Democratic, West, White House, Democratic, CNN, , Wing, Biden, Hamas Locations: Gaza, Virginia, New Hampshire, Michigan, Wisconsin, Iowa, Israel, Northern Virginia, Wilmington , Delaware, South Carolina, Nevada
UAW Backs Biden in Major 2024 Endorsement
  + stars: | 2024-01-24 | by ( Lauren Camera | Jan. | At P.M. | ) www.usnews.com   time to read: +9 min
Joe Biden bet on the American worker while Donald Trump blamed the American worker. The Best Political Cartoons on Joe Biden View All 259 Images“The question is: Who do we want in that office to give us the best shot of winning?” Fain asked members. Joe!” Biden accepted the endorsement and pledged to continue supporting labor unions and the auto industry in particular. Of course, there were plenty of signs the UAW chief was planning to make the union’s backing of Biden official. That's what this choice is about.”More labor union endorsements are likely to roll out in the coming months.
Persons: Joe Biden, Donald Trump, , Shawn Fain, Harris, Trump, ” Fain, , “ It’s, It's, “ It's, ” “ Donald Trump, that's, he’d, “ Joe, Joe, Joe ! ” Biden, ” Biden, Biden, “ Trump, you've, , Fain, ” Mary Kay Henry, Biden’s, Lady Jill Biden Organizations: United Auto Workers, D.C, Biden, UAW, – Ford, General Motors, Trump, Gallup, National Labor Relations Board, Employees International Union, U.S . Bureau of Labor Statistics, Press, Hollywood, , National Education Association Locations: Washington, Detroit, New Hampshire, Iowa, Michigan, Pennsylvania, Wisconsin, America, U.S, , South Carolina
Tesla is set to report fourth-quarter earnings for 2023 after the bell Wednesday. Tesla shareholders submitted questions for executives to answer via the platform Say Technologies ahead of the earnings call. They're asking when Tesla plans to debut its "next-generation" vehicle, a more affordable EV referred to by fans as the Model 2. Gerber said on CNBC's "Last Call" with Brian Sullivan, that Musk was "blackmailing" Tesla shareholders, and that "the idea that he doesn't control Tesla is absurd." WATCH: Elon Musk is very much in charge of Tesla
Persons: Elon Musk, Tesla, Musk, Elon, Ross Gerber, who's, bristled, Gerber, Brian Sullivan Organizations: Tesla Inc, Fratelli, LSEG, Labor, General Motors, Ford, United Auto Workers, Tesla, Investors, Twitter Locations: Italy, Rome, U.S, Sweden, Scandinavia, Europe, Nevada, Tesla
Washington CNN —The United Auto Workers union on Wednesday endorsed President Joe Biden, a long-awaited announcement that is an important pickup for the president. Biden won the endorsement of the UAW in the 2020 campaign, even though many rank-and-file members supported Trump. Ahead of endorsing Biden, UAW President Shawn Fain said the choice union workers face in 2024 “isn’t about who you like. … Donald Trump stands against everything we stand for as a union – as a society.”The choice between Trump and Biden, Fain said, was clear. Trump has found support among the rank-and-file of the UAW despite Fain’s strong criticisms and union leadership’s consistent support of Democratic candidates.
Persons: Joe Biden, , ” Biden, Biden, Donald Trump’s, Shawn Fain, isn’t, It’s, “ Donald Trump, ” Fain, that’s, … Donald Trump, Fain, “ Joe Biden, Donald Trump, , ” Trump, I’ve, Trump, , Biden –, ” Shawn Fain, Ting Shen, Dan Kildee, ” Kildee, CNN’s Poppy Harlow, Joe Biden’s, Kildee Organizations: Washington CNN, United Auto Workers, Republican, GOP, UAW, Trump, Democratic Party, Great, Bloomberg, Michigan Democrat, Democratic, CNN, GM Locations: Washington ,, New Hampshire, Michigan, America, Israel, Gaza, Great Lakes State, Detroit
CNN —Faculty members at California State University (CSU), the largest public university system in America, have ended their one-day strike after reaching a tentative agreement with management. The union represents 29,000 members including professors, lecturers, librarians, counselors and coaches, across the 23 campuses of Cal State. Our members have won a Tentative Agreement … that includes raising the floor for our most vulnerable faculty, safer workplaces & expanded parental leave,” it said. “The agreement enables the CSU to fairly compensate its valued, world-class faculty while protecting the university system’s long-term financial sustainability,” she added. Thousands of Cal State faculty began striking on Monday, the first day of spring semester classes for much for the university system’s 450,000 student.
Persons: , , Mildred García Organizations: CNN —, California State University, CSU, California Faculty Association, CFA, Cal State, United Auto Workers, Hollywood, Starbucks, Cornell University, Industrial and Labor Relations Locations: America, California, Southern California
Shares of Tesla closed down more than 3% Friday as the stock faced pressure from supply chain delays due to a crisis in the Red Sea, and after offering more price cuts on its vehicles in China. The Iranian-backed Houthi militia group has been attacking cargo ships and merchant vessels in the Red Sea in response to the ongoing war in the Gaza Strip. The Baird analysts wrote that they are "wary" of further effects to Tesla's supply chain, and they are "closely monitoring" any effect on the company's shipping routes from China. "No delays have been cited, however, we speculate that disruptions in the Red Sea may lead to longer wait times as supply chains are rerouted," they wrote. Analysts were also focused on Tesla's continuing price cuts including new discounts in China.
Persons: Tesla, Baird, Morgan Stanley, Price, Hertz, Stephen Scherr, Scherr, unionize Organizations: Tesla, Hertz, Reuters, Baird, United Auto Workers, UAW, Toyota Locations: Red, China, U.S, Berlin, Grunheide, Germany, Jan, Gaza, Europe, Sweden, Scandinavia, Detroit
New York CNN —The longest US auto strike this century is over after a pretty clear win for the United Auto Workers union at all three unionized automakers. “I don’t like what I’ve seen in my work career with the UAW leadership, where they were too damn close to the companies,” UAW President Shawn Fain told CNN earlier this month. So I like to let the body of work speak for itself.”The success of those contracts is the reason that Shawn Fain is CNN Business’ labor leader of the year. All told nearly 800,000 union members got raises of 10% or more during 2023. The plant will be be reopened under the agreement reached between Stellantis and the UAW to end the union's strike at the company.
Persons: Shawn Fain, there’s, Fain, , , I’ve, Sean O’Brien, Fran Drescher, Ted Pappageorge, Bill Greenblatt, Wheaton, Jeff Schuster, It’s, Stellantis, Bianca Flowers, Reuters “, Ray Curry, GlobalData’s Schuster, ” Shawn Fain, we’re Organizations: New, New York CNN, United Auto Workers, UAW, CNN, CNN Business, UPS, SAG, Writers Guild of America, Culinary, Kaiser Permanente, General Motors, Ford, Motors Wentzville, GM, UPI, Cornell University’s School of Industrial and Labor Relations, GlobalData, Jeep, Reuters, Justice Department, Chrysler, Facebook, UAW International Union Locations: New York, Las Vegas, Stellantis, Wentzville , Missouri, Kokomo , Indiana
CVS YTD mountain CVS stock has fallen 15% from the start of the year. KR YTD mountain Kroger stock has added nearly 2% from the start of the year. AER YTD mountain AerCap stock has rise nearly 28% from the start of 2023. GM YTD mountain General Motors stock has gained 8% in 2023. GPN YTD mountain Global Payments stock has risen 27% year to date.
Persons: Patrick Kaser, Kaser, Kroger, there's, AerCap, Kaser's, Aengus Kelly Organizations: Brandywine Global, CNBC, CNBC Fed Survey, Federal Reserve, CVS, Kroger, Albertsons, KR, Aerospace, Motors, United Auto Workers, UBS, GM, General Motors, Global Locations: Brandywine, U.S, Walmart's heft
Southwest Airlines and its pilots' union have reached a new preliminary labor agreement that would give pilots 50% cumulative pay increases over the life of the contract, a deal that could end years of tense negotiations. The five-year deal is worth about $12 billion, Casey Murray, president of the Southwest Airlines Pilots Association, told CNBC on Tuesday. In comparison, larger rival United Airlines ' new four-year pilot contract is worth about $10 billion, according to the aviators' union. Once the contract becomes amendable, Southwest pilots would get 2.5% annual bonuses until the airline and union reach a new agreement. FedEx pilots rejected an preliminary deal earlier this year, while UPS pilots' union is set to start negotiations in mid-2024.
Persons: Casey Murray Organizations: Southwest Airlines, Southwest, U.S, Southwest Airlines Pilots Association, CNBC, United Airlines, United, Delta, FedEx, UPS, U.S . Department of Transportation, Labor, Hollywood, United Auto Workers union Locations: Southwest
10 industry leaders transforming business in 2023
  + stars: | 2023-12-11 | by ( ) www.businessinsider.com   time to read: +20 min
In 2023, Business Insider's annual list of People Transforming Business highlights key players across the advertising, ESG, finance, AI, and labor sectors. Increasingly, they're turning to more opaque private credit markets to borrow money. The world of private credit sits outside the traditional banking system. Analysts expect the private credit market to balloon in size — likely keeping lawyers like Breen very busy. Muthukrishnan is trying to make sense of how risky these private credit loans are by overseeing what is so far the most comprehensive look at vulnerabilities in the industry.
Persons: Mira Murati, who's, Vince Toye, Eileen Fisher, Eileen Fisher Fisher, Guerin Blask, Eileen Fisher Eileen Fisher, she's, Fisher, Janelle Jones, Jones, Lexey, , She's, Justin Breen, Proskauer Breen, Proskauer Justin Breen, he's, Breen, Ares Capital, He's, McLaren, Julie Su, Labor Julie Su, Department of Labor Julie Su, Su, Marty Walsh, Murati, Jim Wilson, Neal Mohan, YouTube Mohan, Katie Thompson, YouTube It's, YouTube isn't, Mohan, Muthukrishnan, Satya Nadella, Microsoft Satya Nadella, Ben Kriemann, Nadella, Steve Ballmer, Mathias Döpfner, Axel Springer, Tim Cook, Apple Cook, Justin Sullivan, Cook, Steve Jobs, Jobs, JPMorgan Chase Toye, JPMorgan Chase, Toye, they'll, Vince Toye's, Bella Sayegh, Rebecca Ungarino, Lara O'Reilly, Juliana Kaplan, Alex Nicoll, Tim Paradis, Stephanie Hallett, Michelle Abrego, Josée Rose, Ryan Joe, Emily Canal, Kaja Whitehouse, Alyssa Powell, Davis, Jonann Brady Organizations: JPMorgan, Service Employees International, SEIU, New York, Ford, Service Employees International Union, United Auto Workers Union, Spelman College, US Department of Labor, Economic Policy Institute, Center for Economic, Research, Department of Labor, The New York Times, Ares, Churchill Asset Management, European, Atlético Madrid, Labor, Labor Department, MacArthur Foundation, New York Times, Dartmouth, OpenAI, Associated Press, YouTube, NFL, DirecTV, Federal, Microsoft, Manipal Institute of Technology, University of Wisconsin -, University of Chicago, Apple, Apple Watch, Google, Time, JPMorgan Chase, National Housing Trust, Trenton Almgren Locations: McDonald's, Lorain , Ohio, Atlanta, California, Los Angeles, Albania, Canada, Muthukrishnan, Hyderabad, India, University of Wisconsin - Milwaukee, OpenAI, Virginia, Wells Fargo, Trenton
Despite threats to job security such as layoffs, the rise of return-to-office mandates, and the prospect of artificial intelligence taking over jobs, workers have realized what's akin to letting a genie out of the bottle: Their jobs don't have to be just jobs. The push to make jobs back into careers, and good jobs, is just beginning. "And we've also seen just the massive gap between CEO salaries and frontline worker pay." Even so, there's been what Bruno called a "national consciousness raising" around what a quality job is. And thinking toward a future full of quality jobs is a message workers are taking to heart.
Persons: Ingrid Vilorio, She's, Vilorio, It's, Rob Bruno, Bruno, what's, , Julie Su, Biden, Biden administration's, Su, there's, Zers —, Federal Reserve Banks, Keith Wardrip, Wardrip Organizations: University of Illinois, Workers, Treasury Department, Gallup, United Auto Workers, BI, Federal Reserve, Federal Reserve Bank of Philadelphia Locations: California, University of Illinois Urbana, Champaign, America, Philadelphia, Atlanta
Tesla faces a wave of strikes in Sweden, with unions calling for better pay and benefits. Elon Musk called the strikes, which have disrupted deliveries, "insane" in a post on X. Now they are spreading to Denmark, with Danish dockworkers also refusing to unload Tesla's EVs. AdvertisementTesla is embroiled in a growing battle with unions in Europe after the wave of strikes impacting the company in Sweden spread to Denmark. AdvertisementNine other Swedish unions have joined the strike in solidarity, with dockworkers refusing to unload Tesla's cars at ports and electricians refusing to repair the company's charging stations .
Persons: Tesla, Elon Musk, Danish dockworkers, , Jan Villadsen Organizations: Danish, Service, Reuters, Sweden's Transport Agency, Denmark aren't, United Auto Workers, UAW, Business Locations: Sweden, Denmark, Europe, Danish, Swedish, Sweden's
Lululemon — Shares declined 2% after Wells Fargo downgraded the athleisure company to equal weight from overweight. The firm said Lululemon's prior positive catalysts have already played out, and it forecasts more muted growth in 2024. Spotify — Shares added 8.8% after the music streaming company announced it would lay off 17% of its workforce. The three stocks will replace Sealed Air , Alaska Air Group and SolarEdge Technologies . Virgin Galactic — Shares of the space company plunged nearly 15%.
Persons: Wells, MicroStrategy, Dow, FirstSource, Richard Branson, Branson, KeyBanc, Carvana, Morgan Stanley, — CNBC's Hakyung Kim, Jesse Pound, Alex Harring, Samantha Subin, Yun Li, Lisa Kailai Han, Sarah Min, Michelle Fox Organizations: Marathon, Spotify, Technologies, Uber Technologies, Dow Jones, Builders, Alaska Air Group, SolarEdge Technologies, Galactic —, Financial, United, JPMorgan, Alaska Air Group —, Hawaiian Airlines, Alaska Air, Hawaiian Holdings, General Motors, Cadillac, Chevrolet, Mizuho Securities, United Auto Workers, Palo Alto, Palo Alto Network Locations: MicroStrategy, British, Seattle, Palo
Uber Technologies — The ride-hailing stock rose 4% after S & P Dow Jones Indices on Friday said it will enter the S & P 500, along with Jabil and Builders FirstSource . The three will replace Sealed Air , Alaska Air Group and SolarEdge Technologies . Alaska Air Group — The Seattle-based carrier slid 12% after agreeing to acquire Hawaiian Airlines for $1.9 billion. Alaska Air, which would pay $18 a share, would take on $900 million in debt as part of the deal. Alaska Air is also coming out of the S & P 500 index.
Persons: , Coinbase, MicroStrategy, Dow, Wells, Carvana, — CNBC's Michelle Fox, Hakyung Kim, Pia Singh, Samantha Subin Organizations: Marathon, Technologies, Dow Jones, Builders, Alaska Air Group, SolarEdge Technologies, General Motors, Cadillac, Chevrolet, Mizuho Securities, GM, United Auto Workers, Spotify, CNBC, Hawaiian Airlines, Alaska Air, Hawaiian Holdings, Alaska, JPMorgan Locations: Seattle
So far this morning there is a big auto stock upgrade and a big beverage downgrade, among other calls. Morgan Stanley dimmed its view on Citizens Financial , downgrading the stock to equal weight from overweight but maintained its $31 per share price target, implying roughly 9% upside. The firm made the chipmaker its top large cap pick on Monday, and reiterated an overweight rating alongside a $620 per share price target. The analyst raised his price target from $25 to $40, which represents 14% upside. "We continue to see ABI's broadly EM focused sales exposure as attractive combined with the company's market leading market share positions," analyst Mitch Collett said.
Persons: Morgan Stanley, Manan, Brian Evans, Piper Sandler, Piper Sandler's, Harsh Kumar, Kumar, Wells, Ike Boruchow, Boruchow, — Brian Evans, JPMorgan's Rajat Gupta, Carvana, John Melloy, Bud Light, Mitch Collett, Vijay Rakesh, Rakesh Organizations: CNBC, East West Bancorp, Citizens Financial, Citizens, West Bancorp, Nvidia, TAM, Wells, JPMorgan Carvan, JPMorgan, Deutsche Bank downgrades Anheuser, Busch, Deutsche Bank, Anheuser, Busch InBev, Staples, Beverages, Mizuho Securities Mizuho Securities, General, United Auto Workers, GM, Vehicles, UAW Locations: China, Wells, Friday's, North America, N.A
Ford's US vehicle sales slip 0.5% in November
  + stars: | 2023-12-04 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/David 'Dee' Delgado/File Photo Acquire Licensing RightsDec 4 (Reuters) - Ford Motor (F.N) posted a 0.5% drop in U.S. new vehicle sales for November on Monday, as the automaker worked to restart some of its key plants following a lengthy workers' strike that impacted vehicle production. Ford reached a deal with the United Auto Workers (UAW) union in late October, ending an over month-long strike the company said will cost it $1.7 billion. Ford's CFO John Lawler said in October restarting the plants would be complicated after the deal, which UAW workers ratified in November. Sales of Ford's electric vehicles jumped 43.2%, to 8,958 units from a year ago, the automaker said on Monday. The company reported total sales of 145,559 vehicles in November, compared with 146,364 units last year.
Persons: David, Dee, Delgado, Ford, John Lawler, Nathan Gomes, Pooja Desai Organizations: New York, REUTERS, Ford, United Auto Workers, UAW, Detroit Three, Thomson Locations: Manhattan , New York City, U.S, Bengaluru
Who to Believe? Jerome Powell or the Markets?
  + stars: | 2023-12-04 | by ( Tim Smart | Dec. | At A.M. | ) www.usnews.com   time to read: +4 min
Last Friday provided a split-screen view of the markets and the Federal Reserve. “Indeed, we look for the return of striking workers to add nearly 45K jobs to November’s payrolls. Wednesday brings the first measure of the November job market when private payroll firm ADP releases its monthly survey of employers. October came in at 150,000, a drop from the recent trend of around 200,000 jobs added per month. Consequently, we expect the post-meeting statement will keep the door open to the possibility of additional tightening this cycle.
Persons: Jerome Powell, Powell, ” William Blair, Richard de Chazal, that’s, de Chazal, , payrolls, , Sam Bullard, November’s, Bullard, Wells Fargo Organizations: Federal Reserve, Spelman College, , Futures, United Auto Workers, UAW, Hollywood, Wells, Labor
The company and the union have agreed on pay, retirement and other items but are working on an implementation schedule, the Southwest Airlines Pilots Association said in a message to its members on Thursday. If a preliminary agreement is approved by Southwest pilots' union board in the coming weeks, it would then go to pilots for a ratification vote. Southwest and the union "are working hard to close out the few remaining items," an airline spokesman told CNBC. "Southwest remains committed to reaching an agreement that rewards our Pilots and places them competitively in the industry." Southwest reached a preliminary agreement with its flight attendants' union earlier this fall that includes 36% pay increases for cabin crew members.
Organizations: Southwest Airlines, Southwest Airlines Pilots Association, . Delta Air Lines, United Airlines, American Airlines, Southwest, CNBC, Hollywood, United Auto Workers
BANGKOK (AP) — Asian shares were mostly higher Thursday ahead of an update on U.S. consumer inflation and a meeting of oil producers in Vienna. Consumer spending, the lifeblood of the economy, rose at a 3.6% annual rate from July through September. In Bangkok, the SET fell 0.5%. Facebook parent company Meta fell 2%, Google’s parent company Alphabet gave up 1.6% and Microsoft dropped 1%. Las Vegas Sands slid 4.9% after Miriam Adelson, the casino operator’s controlling shareholder, sold some $2 billion in stock.
Persons: That’s, Yue, India's Sensex, Taiwan's Taiex, Brent, gainers, Miriam Adelson Organizations: Federal, Consumer, U.S ., Bank, Nikkei, Capital Economics, OPEC, Sunday, New York Mercantile Exchange, Big Tech, Dow Jones, Nasdaq, Facebook, Meta, Microsoft, New York Stock Exchange, General Motors, GM, United Auto Workers, Canadian, Treasury, Sands Locations: BANGKOK, Vienna . U.S, U.S, Asia, Hong Kong, Shanghai, Australia, Bangkok, Sunday .
CNBC Daily Open: The COP28 heat is on
  + stars: | 2023-11-30 | by ( Clement Tan | ) www.cnbc.com   time to read: +4 min
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The S&P 500 ticked down 0.09% to end at 4,550.58, and the Nasdaq Composite slipped by 0.16% to 14,258.49. The force is risingSalesforce shares rose 7% in extended trading on Wednesday after the cloud software vendor's third-quarter earnings topped analysts' estimates. [PRO] Beware crowded tradesThe S&P 500 is up more than 8% in November, putting it on track for its biggest monthly gain since July 2022.
Persons: Dow Jones, Jensen, Jensen Huang, CNBC's Andrew Ross Sorkin, Huang, Morgan Stanley, Russell Organizations: Expo, CNBC, Dow Jones, Dow, Nasdaq, Commerce Department, Gross, Federal Reserve, United Auto Workers, Detroit automakers, BMW, Honda, Hyundai, Mazda, Benz, Nissan, Subaru, Toyota, Volkswagen, Volvo, General Motors, Nvidia Locations: Dubai, United Arab Emirates, U.S, China
CNBC Daily Open: The heat is truly on COP28
  + stars: | 2023-11-30 | by ( Clement Tan | ) www.cnbc.com   time to read: +3 min
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Japan's Nikkei 225 closed 0.5% higher, clocking monthly gains of more than 8%, while South Korea's KOSPI finished the day up 0.6%, advancing more than 11% this month. [PRO] Golden crossesThree stocks are on the verge of taking off, according to a chart pattern closely watched by technical analysts. The phenomenon, known as a "golden cross," occurs when a stock's 50-day moving average share price rises above the longer-term 200-day moving average.
Persons: KOSPI, China's, Rebooting, Sam Altman, Altman Organizations: Expo, CNBC, Nikkei, Dow Jones, National Bureau of Statistics, Microsoft, Auto, United Auto Workers, Volvo, BMW, Mercedes, Benz, Hyundai, Honda, Toyota, Detroit, General Motors Locations: Dubai, United Arab Emirates, Asia, Pacific, South, Hong Kong, China, OpenAI, U.S
Check out the companies making headlines before the bell: Salesforce — Salesforce popped more than 9% after the cloud software company reported fiscal third-quarter earnings that beat analysts' expectations. Snowflake posted adjusted earnings of 25 cents per share on revenue of $734 million. It also issued first-quarter and full-year earnings guidance that also topped estimates. On Wednesday, the company announced a $10 billion share buyback, raised its dividend and reinstated its full-year guidance. Pure Storage — The data storage stock tumbled 14.5% in Thursday's premarket after offering a weak revenue outlook.
Persons: Salesforce, Nutanix, Snowflake, Morgan Stanley, Robinhood, James Heaney, Synopsys — Synopsys, FactSet, Goldman Sachs, — CNBC's Brian Evans, Michelle Fox, Alex Harring, Jesse Pound, Samantha Subin Organizations: LSEG, Hewlett Packard Enterprise, Nvidia, Jefferies, General Motors, Ford, Ford Motor, United Auto Workers Locations: U.K, Thursday's
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