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☆ CNBC Daily Open: Microsoft and Nvidia hit all-time highs
▼ + stars: | 2023-11-21 | by ( Yeo Boon Ping | ) 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. New high for Nvidia Nvidia shares popped 2.25% to close at an all-time high of $504.09 , ahead of the chipmaker's earnings report today. All the turmoil at OpenAI over the weekend turned out pretty well — for Sam Altman and Microsoft , at least. The appointment sent Microsoft shares to a new high.

Persons: Cash, Andy Budden, Sunac, it's, Sam Altman, Altman's, Dan Ives, Ives, Altman, Brockman, we've, — CNBC's Sophie Kiderlin Organizations: CNBC, Capital Group, Nvidia Nvidia, Nvidia, Microsoft, Wedbush Securities, Nadella, Dow Jones, Nasdaq

☆ CNBC Daily Open: Record highs for Microsoft and Nvidia
▼ + stars: | 2023-11-21 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Stephen Brashear | Getty Images News | Getty ImagesThis 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. What you need to know todayThe bottom lineAll the turmoil at OpenAI over the weekend turned out pretty well — for Sam Altman and Microsoft , at least. The appointment sent Microsoft shares to a new high. Meanwhile, at another corner of the technology industry, anticipation over Nvidia's earnings report later today pushed the chipmaker's shares up to a record high.

Persons: Satya Nadella, Stephen Brashear, Sam Altman, Altman's, Dan Ives, Ives, Altman, Brockman, we've, — CNBC's Sophie Kiderlin Organizations: Getty, CNBC, Microsoft, Wedbush Securities, Nadella, Nvidia, Dow Jones, Nasdaq Locations: Bellevue , Washington

☆ Nvidia hit the quarter and guidance out of the park. We don't see that changing
▼ + stars: | 2023-11-21 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Bottom line This was a very strong quarter, with almost nothing to nitpick. This year's rapid Data Center sales growth we've seen has been driven largely by cloud providers and enterprises. Sales to China and other impacted regions have, in the past few quarters, accounted for 20% to 25% of Data Center sales. However, the team added that they "believe the decline will be more than offset by strong growth in other regions." Guidance Looking ahead to Nvidia's fourth quarter of fiscal 2024, we once again got far stronger guidance than Wall Street was modeling.

Persons: We're, Ada Lovelace, Jim Cramer's, Jim Cramer, Jim, Jensen Huang Organizations: Nvidia, Revenue, Automotive, Data Center, Microsoft, Oracle, U.S, Data, Gaming, Ada, Nvidia's Automotive, Wall, CNBC, Getty Locations: China, Taiwan

☆ Nvidia's stock-price surge means CEO Jensen Huang is richer than Nike founder Phil Knight and hedge-fund legend Ken Griffin
▼ + stars: | 2023-11-20 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Founder and CEO Jensen Huang's wealth has soared nearly $30 billion as a result. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . That means his fortune now exceeds those of Nike founder Phil Knight, Citadel CEO Ken Griffin, and Blackstone supremo Stephen Schwarzman. He'll turn 60 this year, making him years older than fellow tech billionaires Bill Gates and Jeff Bezos when they left day-to-day operations at 52 and 57, respectively.

Persons: Jensen, Huang, —, Nvidia –, that's, Jensen Huang, –, Mark Zuckerberg, Elon Musk, he's, Phil Knight, Ken Griffin, Blackstone supremo Stephen Schwarzman, Chris Malachowsky, Curtis Priem, East San Jose Denny's, Bill Gates, Jeff Bezos Organizations: Bloomberg, Service, Nvidia, Big Tech, Nike, Citadel, Blackstone supremo, East San Locations: Taiwan, Thailand, Oregon, East, East San Jose

☆ Wall Street turns to Nvidia earnings in the week ahead as stocks try to keep their November momentum
▼ + stars: | 2023-11-17 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Nvidia earnings will be in focus in the Thanksgiving-shortened week ahead, as investors consider the sustainability of the November rally heading into year-end. NVDA YTD mountain Nvidia YTD The chip giant's results will come amid a broad rally for equities this month. The S & P 500 has climbed more than 7%, and the tech-heavy Nasdaq Composite has advanced more than 9%. That stands in marked contrast to the S & P 500, which trades at a multiple of 22. Hopes for a dovish Fed Wall Street is also heading into next week after absorbing some positive news.

Persons: Timothy Arcuri, China —, Piper Sandler, Harsh Kumar, Quincy Krosby, Bill Baruch, CNBC's, That's, Bonds, Giuseppe Sette, Dow, Jeff Hirsch, —, Michael Bloom Organizations: Nvidia, UBS, Dow Jones Industrial, Nasdaq, Microsoft, LPL, Dow, Blue, Investors, Chicago Fed, HP Inc, Autodesk, Devices, Lowe's, Deere, P, PMI, P Global PMI Locations: FactSet, China, Treasurys, Lombard, Michigan

Roth MKM downgraded the company to neutral from buy and cut its price target by $9 to $2. Janney, meanwhile, downgraded ChargePoint and assigned a price target of $5, which implies roughly 59% potential upside. Stifel, on the other hand, kept its buy rating and $10 price target based on its long-term view of the stock. Analyst Joseph Moore upgraded the semiconductor manufacturer to overweight from equal weight and upped his price target on the stock by $49 to $225. Kumar has an overweight rating on the stock and a price target of $620, implying upside of 25%.

Persons: Morgan Stanley, Piper Sandler, Roth MKM, Janney, Roth, Craig Irwin, — Pia Singh, Tyler Radke, Radke, Mark Mahaney, Mahaney, Airbnb, Joseph Moore, Moore, Harsh Kumar, Kumar, Fred Imbert Organizations: CNBC, EV, Citi, Communications, Microsoft, ISI, Nvidia Locations: Thursday's, North America, Europe, 2Q24 —, U.S

☆ Why Nvidia's outlook will command the spotlight during next week's earnings report
▼ + stars: | 2023-11-16 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

Wall Street expects Nvidia (NVDA) to deliver another strong quarterly report Tuesday, as its cutting-edge artificial intelligence chips remain a hot, hard-to-get commodity. The recent trading in Nvidia's stock reflects that optimism, with shares up nearly 20% in November alone. "I don't like the so-called setup," Jim Cramer said, referring to the huge run-up in shares ahead of earnings. It's one piece of evidence behind investors' belief that Nvidia's upcoming earnings report will clear the high bar that's been set. Microsoft hasn't officially disclosed how the Maia 100's performance compares with Nvidia's top-end AI chip and AMD's MI300.

Persons: Jim Cramer, Jim, he's, —, Goldman Sachs, LSEG daa, Goldman, Morgan Stanley, workloads, Maia, Microsoft hasn't, BofA, Jim Cramer's, Hsun Huang, Patrick T Organizations: Nvidia, LSEG, Investor, Microsoft, Big Tech, Goldman, Street, Financial Times, Micro Devices, Wednesday, Google, Web Services, Bank of America, AMD, CNBC, Nvidia Corp, Mobile, Fallon, Bloomberg, Getty Locations: China, Los Angeles , California

☆ Here’s a rapid-fire update on all 35 stocks in our portfolio, including a new industrial
▼ + stars: | 2023-11-15 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +14 min

Here's a rapid-fire update on all the stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Honeywell International (HON): This is the most undervalued stock in our portfolio, Jim said. In a diversified stock portfolio, Jim said there's always room for high-quality companies like P & G, which also has a track record of raising its dividend. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. Here's a rapid-fire update on all the stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club.

Persons: Jim Cramer's, Jim, Bausch, That's, Dupont De Nemours, Dupont, Danaher, Walt Disney, Estee Lauder, Locker, Vimal Kapur, we're, We've, we've, Linde, Eli Lilly, Eli, hasn't, Mark Zuckerberg, Meta's, Zuckerberg, Morgan Stanley, Morgan Stanley's, Ted Pick, James Gorman, he's, there's, Patience, Stanley Black, Decker, Wells Fargo, Jim Cramer Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Amazon Web Services, Broadcom, VMWare, Bausch Health, Caterpillar, Costco Wholesale, Coterra Energy, Disney, Eaton Corp, Emerson, Ford, Union Auto Workers, GE Healthcare Technologies, General Electric, GE, Management, Google, YouTube, Honeywell International, Honeywell, Linde, LIN, Reality Labs, Microsoft, Nvidia, U.S, Oracle, Palo Alto Networks, Procter & Gamble, Starbucks, Constellation Brands, Corona, Modelo, Stanley, TJX, Wynn Resorts, WYNN, Trust Locations: China, India, Salesforce's, redeploy

☆ Chinese chipmaker YMTC sues Micron alleging patent infringement
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Aly Song/File Photo Acquire Licensing RightsNov 12 (Reuters) - Chinese chipmaker Yangtze Memory Technologies Co (YMTC) has filed a lawsuit against U.S. rival Micron Technology (MU.O) alleging infringement of eight of its patents. YMTC filed the lawsuit against Micron and unit Micron Consumer Products Group on Nov. 9 at the U.S. District Court for the Northern District of California. According to the lawsuit, Micron turned to YMTC's patented technology to fend off competition from YMTC and to gain and protect market share. In May, China said Micron products failed a network security review and barred purchase of them by operators of key infrastructure. ($1 = 7.2934 Chinese yuan renminbi)Reporting by Anirudh Saligrama and Brenda Goh; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, YMTC, YMTC's, Anirudh Saligrama, Brenda Goh, Christopher Cushing Organizations: Micron, REUTERS, Memory Technologies, U.S, Micron Technology, Micron Consumer Products Group, Northern, Northern District of, South, Samsung Electronics, SK Hynix, Toshiba, Thomson Locations: Shanghai, China, Northern District, Northern District of California, U.S, Fujian, Xian

A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. The source, who declined to be named because the information was confidential, said Intel had made that decision around July. Intel is also expanding its investment in chip packaging in Malaysia, one of Vietnam's main Southeast Asian rivals. "You cannot take for granted that because Intel has already invested here it will invest more," Chung Seck, partner at law firm Baker & McKenzie Vietnam told Reuters. Asked about the possible investment plan at the time, Intel told Reuters: "Vietnam is an important part of our global manufacturing network, but we have not announced any new investments."

Persons: Dado Ruvic, Joe Biden, Biden's, Tran Luu Quang, chipmakers, Chung Seck, Baker, McKenzie, Francesco Guarascio @fraguarascio, Max Cherney, Khanh, Miyoung Kim Organizations: REUTERS, Rights, Intel, U.S, Reuters, Vietnam's, White House, Marvell, McKenzie Vietnam, Thomson Locations: Rights HANOI, Vietnam, China, Taiwan, United States, U.S, Hanoi, Europe, Malaysia, San Francisco, Khanh Vu

☆ Chipmaker NXP forecasts profit above estimates on resilient auto, industrial
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Steve Marcus/File Photo Acquire Licensing RightsNov 6 (Reuters) - Chipmaker NXP Semiconductors (NXPI.O) forecast fourth-quarter profit above Wall Street targets on Monday, expecting a resilient automotive market and stable industrial demand to offset weakness in other key markets. NXP in September said automotive demand was "pretty good" across all its markets, including China, which contributes about 30% to the chipmaker's total revenue. However, NXP CEO Kurt Sievers said the company's communication infrastructure business performed "slightly below expectations" in the third quarter. The company forecast adjusted current quarter revenue in the range of $3.30 billion and $3.50 billion, compared to analysts' estimate of $3.43 billion, per LSEG data. Revenue in the third quarter was $3.43 billion, compared with estimates of $3.40 billion.

Persons: Steve Marcus, Kurt Sievers, NXP, Chavi Mehta, Krishna Chandra Organizations: Semiconductors, Electronics, Las Vegas Convention, REUTERS, Wall, NXP, Apple, Revenue, Nasdaq, Thomson Locations: Las Vegas , Nevada, U.S, China, Eindhoven, Netherlands, Bengaluru

☆ CNBC Daily Open: Can stocks climb out of their three-month hole?
▼ + stars: | 2023-11-01 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

New York City resembled a ghost town after 370,000 people were told to evacuate flood-prone areas, including near Wall Street and at Coney Island, and mass transport was shut down. AFP PHOTO/Stan HONDA (Photo credit should read STAN HONDA/AFP via Getty Images)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. Spooky OctoberMajor U.S. indexes inched up Tuesday, but ended October in the red — giving them a three-month losing streak. The 117-year-old company is "becoming an AI company.

Persons: Irene, Stan HONDA, STAN HONDA, Kospi, Janet, Jerome There's, Jerome Powell's, Joe Biden, Xi Jinping Organizations: AFP, Getty, CNBC, Japan's Nikkei, Bank of Japan, Federal Reserve, U.S . Treasury, AMD Locations: Lower Manhattan , New York, Tri State, New York City, Wall, Coney, AFP, Asia, Pacific, China, U.S

☆ Earnings playbook: Your guide to trading another busy week of reports, including Apple and Pfizer
▼ + stars: | 2023-10-29 | by ( Fred Imbert | ) www.cnbc.com time to read: +6 min

About 30% of the S & P 500 is set to report earnings this week, bringing the reporting past the halfway mark. Monday McDonald's is set to report earnings before the bell, followed by a call with management at 8:30 a.m. What CNBC is watching: Pfizer is coming into this latest earnings report limping. What history shows: Starbucks only beats earnings expectations 55% of the time, according to Bespoke, but the stock averages a 0.5% gain on earnings days. What history shows: Apple shares tend to do well on earnings days, averaging a 1.3% advance, according to Bespoke.

Persons: It's, Oppenheimer, Brian Bittner, PFE, Kif Leswing, Cowen, Andrew Charles, bode, Tim Cook, — CNBC's Michael Bloom Organizations: Apple, Pfizer, Meta, CNBC, Investment, AMD, Nvidia, Starbucks, Corporate Locations: U.S, Covid, China

☆ Wall Street ends mixed at close of earnings-packed week
▼ + stars: | 2023-10-27 | by ( Stephen Culp | ) www.reuters.com time to read: +5 min

The benchmark S&P 500 closed 10.28% below its July 31 closing high. InflationMarket participants are nearing the end of a busy earnings week, during which nearly one-third of the companies in the S&P 500 posted third-quarter results. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsAnalysts now expect aggregate annual S&P earnings growth of 4.3%, a sharp improvement over the 1.6% growth seen at the beginning of the month. Among the 11 major sectors of the S&P 500, energy (.SPNY) suffered the steepest percentage drop. The S&P 500 posted no new 52-week highs and 67 new lows; the Nasdaq Composite recorded 10 new highs and 478 new lows.

Persons: Ross Mayfield, Mayfield, Brendan McDermid, advancers, Stephen Culp, Ankika Biswas, Shashwat Chauhan, Sruthi Shankar, Richard Chang Organizations: Intel, Dow, Nasdaq, Amazon.com, Apple, Dow Jones Industrial, Baird, New York Stock Exchange, REUTERS, Semiconductor, Dow Jones, Chevron, Exxon Mobil, Ford, United Auto Workers union, NYSE, Thomson Locations: Louisville , Kentucky, U.S, New York City, Philadelphia, Bengaluru

☆ Investors should 'buy the dip' in Nvidia shares, Itau BBA analysts say
▼ + stars: | 2023-10-25 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Shares of chipmaker Nvidia fell sharply earlier this month after the U.S. government announced new restrictions on exporting advanced artificial intelligence chips to China. Investment bank Itau BBA's analysts believe the new export controls could reduce Nvidia's revenues from China by about 10% in 2025. However, the analysts say the stock's pullback has likely already priced in most or all of that impact. NVDA 1M mountain Itau BBA's $600 price target for Nvidia points to more than 40% upside from the current share price. In response to the plans for new export restrictions, Citi analyst Atif Malik cut his Nvidia price target to $575 from $630.

Persons: Thiago Alves Kapulskis, Atif Malik, Morgan Stanley's Joseph Moore, —, Samantha Subin, Michael Bloom Organizations: Nvidia, U.S, Investment, U.S . Commerce Department, Citi Locations: China, Saudi Arabia

☆ Beijing weighs delaying approval of $69 bln Broadcom-VMware deal- FT
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

A smartphone with a displayed Broadcom logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 19 (Reuters) - Beijing is weighing holding up US chipmaker Broadcom Inc's (AVGO.O) $69 billion purchase of cloud computing company VMware Inc (VMW.N), the Financial Times reported on Thursday. VMWare and Broadcom did not immediately respond to Reuters request for comment. China's State Administration of Market Regulation could not immediately be reached for comment. Reporting by Gursimran Kaur in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Joe Biden's, Gursimran Kaur, Nivedita Organizations: Broadcom, REUTERS, VMware Inc, Financial Times, China's, Administration of, VMWare, VMware, Thomson Locations: Beijing, Bengaluru

☆ Citi cuts Nvidia price target on U.S. chip export restrictions to China
▼ + stars: | 2023-10-18 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Citi maintained its buy rating on Nvidia but lowered its price target to $575 from $630. The bank's lowered outlook comes after the U.S. Department of Commerce announced new export restrictions Tuesday that would curb the sale of more advanced artificial intelligence chips to China. The move will restrict the export of Nvidia's A800 and H800 chips as the federal government attempts to further tighten last year's restrictions on AI chip exports. Malik lowered his full-year 2025 earnings per share by 0.3% to reflect lowered China exposure with Nvidia's GeForce RTX 4090 graphics cards. Morgan Stanley analyst Joseph Moore lowered his target by $30 to $600 on the back of the new export controls.

Persons: Atif Malik, Malik, Morgan Stanley, Joseph Moore, Moore, — CNBC's Michael Bloom Organizations: Citi, Nvidia, U.S . Department of Commerce, NVIDIA, federal, United Arab Locations: China, Saudi Arabia, United Arab Emirates, Vietnam

☆ European shares slip as Middle East fears, ASML weigh
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, October 16, 2023. REUTERS/Staff/File photo Acquire Licensing RightsOct 18 (Reuters) - European stocks inched lower on Wednesday as deepening fears over an escalation in the Middle East conflict and a drop in ASML shares after the chipmaker's lacklustre forecast overshadowed support from upbeat economic data from China. The pan-European STOXX 600 index (.STOXX) was down 0.2% by 0703 GMT. Adidas (ADSGn.DE) jumped 4.7% after the sportswear firm lifted its revenue forecast and cut its expected loss for 2023. Data showed British annual consumer price inflation was unchanged at 6.7% in September, bucking economists' expectations for a further decline.

Persons: Joe Biden's, ASML, Amruta Khandekar, Sherry Jacob, Phillips Organizations: REUTERS, Staff, U.S, Adidas, Thomson Locations: Frankfurt, Germany, China, Gaza, Israel

☆ AMD to acquire AI software startup as it seeks to catch up with Nvidia
▼ + stars: | 2023-10-10 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

Advanced Micro Devices announced Tuesday it will acquire Nod.AI, an open-source artificial intelligence software startup, to expand the chipmaker's AI software operations. Nod.AI, or Nod Labs, builds open-source technologies "for future AI systems," according to the startup, and it mainly specializes in reinforcement learning, a type of system that "learns" via trial and error. During the same period, AMD reported a revenue decline of 18% but still beat analysts' estimates for sales and profit. Prior to founding Nod in 2013, Anush Elangovan, the startup's CEO, was part of the first Chromebooks team at Google and a lead engineer at Cisco. AMD and Nod.AI did not respond to CNBC's request for comment.

Persons: Boppana, Anush Elangovan, Harsh Menon, Nod's, Kitty Hawk, Larry Page Organizations: Micro Devices, Nod, Nvidia, AMD, Nod.ai, Google, Cisco, Nod Labs, Bluetooth, Menlo Ventures, Sequoia Capital, Apple, Samsung

☆ Amazon dominated the first cloud era. The AI boom has kicked off Cloud 2.0, and the company doesn't have a head start this time.
▼ + stars: | 2023-10-04 | by ( Alistair Barr | ) www.businessinsider.com time to read: +11 min

There's a new stack of hardware, software, tools, and services that will power AI applications for years to come. Cloud 2.0Another key point here: Most AI developers already know how to use CUDA and Nvidia GPUs. Arguably, Nvidia has already created an AI cloud platform – as AWS once did for the Cloud 1.0 era. James Hamilton is an AWS cloud infrastructure genius who can take on Nvidia, even if the chipmaker has a major head start. Her startup spent months building a data center from scratch to help customers train AI models.

Persons: —, Jensen Huang, Nvidia Rick Wilking, Andrew Ng, CUDA, Michael Douglas, Bernstein, Douglas, Luis Ceze, Ceze, It's, Andy Jassy, Adam Selipsky, James Hamilton, Oren Etzioni, Claude, Dario Amodei, Anthropic Anthropic, Noah Berger, Sharon Zhou, Zhou, Lamini didn't, Etzioni Organizations: Amazon Web Services, Nvidia, Service, Home Depot, AWS, VMware, Cloud, Madrona Venture, Amazon, Amazon Web, Annapurna Labs, Intel, AMD Locations: San Francisco, Seattle, Selipsky

☆ Intel plans to IPO programmable chip unit within three years; stock rises after hours
▼ + stars: | 2023-10-03 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Intel said it will treat its programmable chip unit as as a standalone business, with an aim to spin it out through an IPO in the next two to three years. Intel's Programmable Solutions Group will have its own balance sheet as it heads toward independence. The move also highlights the strong demand in the semiconductor industry for field programmable gate arrays, or FPGAs. Intel's FPGAs are sold under the Agilex brand. Intel doesn't break out PSG sales yet, but said in July that the unit had three record quarters in a row, offsetting a slump in server chip sales.

Persons: Pat Gelsinger, Sandra Rivera, Patrick Gelsinger, Gelsinger Organizations: Intel Corporation, Senate Commerce, Science, Innovation, Russell, Intel, Programmable Solutions, Center, PSG, Taiwan Semiconductor Manufacturing, Lattice Semiconductor, AMD, Intel's Data Locations: Mobileye

☆ S&P 500 ends near flat; focus on outlook for higher rates
▼ + stars: | 2023-10-02 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. The U.S. central bank said last month it may hike rates again as it struggles to bring inflation closer to its 2% annual target. According to preliminary data, the S&P 500 (.SPX) gained 0.49 points, or 0.01%, to end at 4,288.54 points, while the Nasdaq Composite (.IXIC) gained 88.45 points, or 0.67%, to 13,307.77. Tesla (TSLA.O) shares were near flat after the electric vehicle maker missed market estimates for third-quarter deliveries. S&P 500 companies report third-quarter results later this month, with analysts expecting earnings to have risen slightly from the year-ago quarter.

Persons: Brendan McDermid, Michelle Bowman, Quincy Krosby, Goldman Sachs, Caroline Valetkevitch, Shubham Batra, Shashwat Chauhan, Vinay Dwivedi, Maju Samuel, Richard Chang Organizations: New York Stock Exchange, REUTERS, Nasdaq, Financial, Investors, Energy, Dow Jones, Nvidia, NextEra Energy, Thomson Locations: New York City, U.S, Charlotte , North Carolina, New York, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Powell and Philadelphia Fed President Patrick Hasker will speak at a roundtable discussion, due 11 a.m. Later in the day, Cleveland Fed President Loretta Mester will speak on the outlook for the U.S. economy. Rivian Automotive (RIVN.O) advanced 2.9% after Evercore ISI raised the EV maker's stock to "outperform" from "in line". Reporting by Shubham Batra and Shashwat Chauhan in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Jerome Powell, Patrick Hasker, Loretta Mester, Russell Hackmann, Kevin McCarthy, bitcoin, Piper Sandler, Goldman Sachs, Shubham Batra, Shashwat Chauhan, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal, Philadelphia Fed, Cleveland Fed, Hackmann Wealth Partners, Democratic, Republican, Dow e, Nvidia, Rivian, ISI, EV, Thomson Locations: New York City, U.S, Powell, Singapore, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Other megacap stocks including Apple (AAPL.O), Meta Platforms (META.O), Amazon.com (AMZN.O), Alphabet (GOOGL.O) and Microsoft (MSFT.O) advanced between 0.9% and 1.9%. Eight of the eleven S&P sub sectors were down, with the utilities index (.SPLRCU), often considered as a bond proxy, declining 4.9%. Declining issues outnumbered advancers for a 4.02-to-1 ratio on the NYSE and for a 2.27-to-1 ratio on the Nasdaq. The S&P index recorded two new 52-week highs and 48 new lows, while the Nasdaq recorded 19 new highs and 211 new lows.

Persons: Brendan McDermid, Tesla, Goldman Sachs, Jerome Powell, Michelle Bowman, Loretta Mester, Stocks, Paul Ashworth, Kevin McCarthy, advancers, Shubham Batra, Shashwat Chauhan, Vinay Dwivedi, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, Nvidia, Apple, Microsoft, Cleveland Fed, North, Capital Economics, Democratic, Republican, Dow Jones, NYSE, Thomson Locations: New York City, U.S, North America, Bengaluru

☆ A quant fund boss talked his mom into selling Nvidia at 60% of its current price. She won't let him forget it.
▼ + stars: | 2023-10-02 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Quant fund chief Jason Hsu thought Nvidia's rally couldn't last any longer – so talked his mom into selling at $250 a share. "I'm going to be putting a hex curse on that stock," Hsu joked. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementThe head of a quant trading fund told his mom to sell her Nvidia shares when they were trading at just 60% of their current price – and hasn't heard the end of it since. "I told my mom, 'Sell Nvidia, you made such a good gain.'

Persons: Jason Hsu, Nvidia's, Hsu, —, hasn't, he'd, Rayliant Organizations: Service, Nvidia, Rayliant Global Advisors, Research

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