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India's recent stock market surge has investors viewing the country as an emerging market poised for long-term outperformance. The India NSE Nifty 50 Index , the country's domestic stock market benchmark, has soared 18.7% this year, hitting record levels. "The data show that, historically, the Indian market has offered robust returns with reduced volatility." Going back to 2015, INDA has seen bigger annual gains and smaller declines than the broader emerging market fund. How to play the Indian market Financials are among investors' favorite spots in India's booming stock market.
Persons: It's, Malcolm Dorson, Dorson, GlobalX, Russell, , EEM, INDA, Amr Abdel Khalek, Khalek, Jerome Powell, Venugopal Garre, Krishna Mohanraj, You've, Mohanraj Organizations: India NSE, Global, CNBC, U.S, Federal, Fed, Nasdaq, China, MRB Partners, Traders, Barclays, Diamond Hill Capital Management, HDFC Bank, ICICI Bank, Axis Bank, ICICI, HDFC, Whitehaven Coal, Prestige Estates Locations: India, China, Dorson, U.S, Whitehaven
Cathie Wood's Ark Venture Fund invested at least $250 million in this new round. OpenAI is now Ark Venture Fund's third-largest holding, accounting for about 5% of its total assets. AdvertisementCathie Wood's Ark Venture Fund has agreed to invest at least $250 million in OpenAI's latest funding round, three people familiar with the round said. OpenAI is now Ark Venture Fund's third-largest holding, accounting for about 5% of the fund's total assets, according to its website. On Wednesday, a retail investor shared a screenshot of what appears to be an email she received from Ark Venture Fund informing her of its new OpenAI investment.
Persons: OpenAI, , Ark, Musk Organizations: Ark Venture Fund, Ark Venture, Service, Microsoft, Tiger Global, Nvidia, Khosla Ventures, United, United Arab Emirates Locations: Abu Dhabi, United Arab, xAI
Mount Everest is astoundingly tall at 29,032 feet above sea level, besting its Himalayan neighbors by hundreds of feet. But the world’s tallest peak is still growing, scientists say, thanks in part to the merger of two nearby river systems tens of thousands of years ago. Everest has gained between about 50 and 160 feet as a result of that merger, researchers revealed in a study published Monday in the journal Nature Geoscience. Researchers also say this could explain why Everest is unusually tall, reaching nearly 800 feet higher than its neighbors. “While not entirely revolutionary, these findings are certainly surprising,” Dai said, adding that they could lead to a re-examination of current models of Himalayan formation and evolution.
Persons: Everest, ” Dai Jingen, , Dai, ” Dai Organizations: Nature, China University of Geosciences, NBC News Locations: Everest, Beijing, Eurasia
The month is normally the most inconsistent for stocks going back to 1950, with an average S & P 500 daily move of 1.3% in either direction, per FactSet data. The S & P 500 and Nasdaq Composite are up more than 20% in 2024 through Monday's close, while the Dow Jones Industrial Average has popped 12%. The major averages also ended September with solid gains that brought the Dow and S & P 500 to record levels. Against this backdrop, CNBC Pro screened for stocks that can ride out any volatility in the month ahead, with a history of producing steady income. PFE YTD mountain Pfizer stock.
Persons: Stocks, Goldman Sachs, James Schneider Organizations: Nasdaq, Dow Jones, Dow, CNBC Pro, DirecTV, Pfizer, Drug Administration Locations: Monday's
Sure, many small businesses aren't glamorous — think dental practices or accounting firms — and they involve long hours and unpredictable market forces. The US Small Business Administration said in July that there were nearly 35 million small businesses in the US. Fewer than two-thirds of small businesses in the US in 2022 were profitable, and over a million businesses of all sizes close each year. Traditionally, small businesses were family businesses, and the eldest male child was expected to take it over when the patriarch was ready to step down. Buying up small businesses allows people without wealthy boomer parents to cash in on the trillions of dollars of wealth the generation is sitting on.
Persons: George Coulam, Coulam, Forrester, Nancy Forster, Holt, Ernst & Young, Steve Holt, Shaw, Tenney, Paul, Helen Reagan, Forster, who's, Jennifer, Neil Gutekunst, Edie Ellis, Ellis, BizBuySell, you've, Dave Specht, Specht, they've, " Forster, She's, PwC, Norm Dinkel, Brian Brogan, — he's, hasn't, it's, Jennifer Gutekunst, boomer Organizations: Texas Renaissance, NewEdge Wealth, Ernst &, Shaw, University of Rhode, US Small Business Administration, Small Business Administration, Drucker School, Family Business, Claremont Graduate University, Wall, American Investment Council, Saint Joseph's University Locations: Texas, America, Sacramento , California, Maine, Orono, Chicago, Washington, Pennsylvania
Flowserve supplies fluid motion controls and instrumentation to nuclear plants, with that side of the business currently accounting for about 5% of total revenue. TD Cowen sees 11% upside for Flowserve with a stock price target of $57. TD Cowen sees a big opportunity servicing nuclear reactors for maintenance, repair, advanced diagnostics and retrofitting. "This is especially pertinent for the U.S. market, given it has the largest amount of existing nuclear reactors in the world," Giordano told clients. Nuclear plants with the equivalent of 85 gigawatts of capacity are in various stages of shutdown across the U.S. and Europe, according to TD Cowen.
Persons: TD Cowen, Cowen, Joe Giordano, " Giordano, Flowserve, Giordano Organizations: Flowserve, Constellation Energy, U.S Locations: Michigan, Pennsylvania, Europe
Lawrence Delva-Gonzalez and his wife went from being $150,000 in debt to having a net worth of $1.5 million. AdvertisementLawrence Delva-Gonzalez, 41, was $150,000 in debt in 2012, working a job that paid $27,000 a year. A little over a decade later, he and his wife grew their net worth to over $1.5 million. By 2017, the two of them could pay down debt to the point of having a net worth of zero. Their net worth grew to over $450,000 in January 2021, over $650,000 in January 2022, over $800,000 in January 2023, and $1.53 million in August 2024, according to his blog The Neighborhood Finance Guy.
Persons: Lawrence Delva, Gonzalez, , maxed, Delva, Doreen, Finance Guy, hasn't Organizations: Service, FIRE, Florida State University, Marine Corps, Public, Finance Locations: Haiti, Delva, Port, Miami, Black
Karen Goracke is the CEO of the jewelry store Borsheims, a Berkshire Hathaway subsidiary. Goracke worked her way up from the store room, and Warren Buffett interviewed her for CEO. AdvertisementThis as-told-to essay is based on a transcribed conversation with Karen Goracke, CEO and President of Borsheims, about her career and working with Warren Buffett. I started working as a sales associate for Borsheims, a jewelry store in Omaha, in 1988 straight out of college. She had no idea Warren Buffett was standing next to her.
Persons: Karen Goracke, Goracke, Warren Buffett, Buffett, , Warren Buffett's Berkshire Hathaway, Borsheims, Berkshire Hathaway, I'd, Warren Buffet, We're, I'm, Warren, It's, That's, I've Organizations: Berkshire Hathaway, Service, Borsheims, Las, Berkshire Locations: Omaha, Berkshire, Nebraska, Switzerland , New York, Las Vegas
DirecTV agrees to buy Dish for $1
  + stars: | 2024-09-30 | by ( Jordan Valinsky | Ramishah Maruf | Liam Reilly | ) edition.cnn.com   time to read: +4 min
New York CNN —DirecTV announced Monday it’s buying rival Dish Network, ending multiple decades of on-and-off talks about the satellite services merging. The agreement provides DirecTV and Dish with greater scale, a DirecTV spokesperson told CNN. The newly merged DirecTV-Dish entity will continue to support the Dish brand for the foreseeable future, the DirecTV spokesperson said. DirecTV does not currently have plans to make changes to the existing Dish or Sling TV brands, meaning that current Dish customers should not be concerned about being forced over to DirecTV. The deal also strengthens the duo’s foothold in the industry, allowing them to more easily compete with pay TV rivals and streaming services.
Persons: Charlie Ergen, Mike White, Echostar, Hughes, Organizations: New, New York CNN, DirecTV, Dish Network, Netflix, Hulu, Amazon’s, Dish, , TPG, T, CNN, Disney, Hughes Electronics, EchoStar Corporation, Bloomberg, General Motors, Monday, Antitrust Locations: New York
Chinese property stocks climbed 7% on Monday three major cities eased homebuying rules. China's property sector has struggled amid falling home prices, vacant supply, and debt. AdvertisementChinese property stocks got some positive news on Monday as three major cities announced easing of home-purchase restrictions. The surge comes after the cities of Shanghai, Shenzhen, and Guangzhou loosened homebuying restrictions, and after nation's central bank said it will allow refinancing of mortgages. The moves are part of China's new stimulus package meant to reinvigorate its slowing economy and weak property sector.
Persons: , Morgan Stanley, Stephen Cheung Organizations: Service, Mainland Properties, Longfor, Holdings, Hang Lung, CSI Locations: Hong Kong, Shanghai, Shenzhen, Guangzhou, Beijing
A cinematographer spoke to BBC News about his struggles for work since the Hollywood strikes. AdvertisementA veteran cinematographer told the BBC that a difficult year has left him worrying about affording even a $5 McDonald's value meal. Fortin told the BBC that his drone company operated almost every day before the Hollywood writers' strike, which ran from May until September 2023. "Now I worry about going out and spending $5 on a value meal at McDonald's," he added. AdvertisementThe writers' strikes lasted for nearly 150 days and resulted in the Writers Guild of America securing minimum pay increases and improvements to residuals.
Persons: Michael Fortin, Fortin, , " Fortin, Duncan Crabtree, meanwhile, CineDrones Organizations: BBC News, Service, BBC, Hollywood, Writers Guild of America, Otis College of Art, Screen Actors Guild Locations: Los Angeles, Huntington Beach, Las Vegas, Ireland
Elon Musk set out SpaceX's timeline for getting humanity to Mars this week. He said SpaceX plans to send five Starship rockets to Mars in 2026, with crewed missions following two to four years later. AdvertisementElon Musk has set out his latest timeline for getting humans to Mars, and experts say it's a classic SpaceX move. The SpaceX founder said in a recent post on X that the company plans to launch around five uncrewed Starship rockets to Mars in 2026. AdvertisementSpaceX is planning to launch five uncrewed Starship rockets to Mars in the first window in 2026, according to Musk.
Persons: Elon Musk, , Musk, Philip Metzger, Metzger, Peter Hague, Hague, Matthew Weinzierl Organizations: SpaceX, Service, NASA, Planetary Science, University of Central, Federal Aviation Administration, FAA, Harvard Business School Locations: Mexico, University of Central Florida, Mars
Chin-Hong said the variant is a so-called recombinant of two other strains — KS.1.1 and KP.3.3 — meaning that genetic information was exchanged between them to form a third strain, XEC, Chin-Hong said. Is the XEC variant more contagious? Chan School of Public Health, said there’s no evidence yet that the XEC variant is much more transmissible than what’s currently circulating. The variant is closely related to KP.2, the strain targeted by the updated vaccines from Pfizer and Moderna. Bright, however, cautioned that clinical data is ultimately needed to determine how well the updated vaccines work against the XEC variant.
Persons: , , Peter Chin, ” XEC, we’re, Rick Bright, Hong, Bill Hanage, ” Hanage, It’s, XEC, Hanage, “ It’s, Marc Johnson, Johnson, There’s, ” Chin, ” Johnson, ” Bright Organizations: Centers for Disease Control, Prevention, University of California, Biomedical, Research, Development Authority, Department of Health, Human Services, CDC, Harvard, of Public Health, University of Missouri School of Medicine, Pfizer, Moderna Locations: United States, San Francisco, Europe, Chin, U.S, Chan, Germany, Netherlands, France
New U.S. tariffs on $18 billion in Chinese goods take effect Friday as trade tensions intensify between the world’s two largest economies. For example, the U.S. imports almost no Chinese EVs, largely because of an existing 27.5% tariff that is now increasing to 100%. Lithium-ion batteries, however, are a different story, accounting for about $13 billion of the $18 billion in affected Chinese goods. Similarly, the U.S. has been increasing its Chinese imports of natural graphite, another crucial component of EVs. “Cheaper Chinese solars and cheaper Chinese EVs can actually take jobs away from a lot of manufacturers in, say, the West.
Persons: Donald Trump, Joe Biden, Trump, Chim Lee, ” Lee, Charles Benoit, “ that’s, Benoit, , Biden, Julie Kozack, Lee, it’s Organizations: Economist Intelligence Unit, Biden, China, European, Coalition for, Prosperous, International Monetary Fund, U.S Locations: U.S, Beijing, China, Asia, Southeast Asia, Mexico, Malaysia, Prosperous America
That came after short-seller Hindenburg Research revealed last month it had taken a short position in the company, citing "fresh evidence of accounting manipulation." Cassava Sciences — The biotech company fell 11% after agreeing to pay $40 million to settle a case with the Securities and Exchange Commission. Wynn Resorts — The stock rose about 6% thanks to an upgrade to overweight from equal weight at Morgan Stanley. Amgen — The biotech's shares rose 2% after Cantor Fitzgerald initiated research coverage with an overweight rating. — The aerospace and defense stock added 16% following a price target increase from KeyBanc Capital Markets, which retained an overweight investment rating.
Persons: Bristol Myers, Hindenburg, Morgan Stanley, Amgen, Cantor Fitzgerald, Olivia Brayer, Michael Leshock, — CNBC's Sean Conlon, Alex Harring, Yun Li, Hakyung Kim, Samantha Subin, Pia Singh Organizations: Bristol Myers Squibb, Food and Drug Administration, Bristol, Nordisk —, JPMorgan, Wall, Costco Wholesale, Revenue, Wall Street Journal, Justice Department, Hindenburg Research, Securities and Exchange Commission, Wynn Resorts, UAE, HP Inc, Bank of America, KeyBanc Locations: Nordisk — U.S, Danish, Las Vegas
Costco Wholesale — The membership-only retailer saw shares dip about 1% after the company missed expectations for fiscal fourth-quarter revenue. Super Micro Computer — Shares of the artificial intelligence beneficiary slipped 2%, adding to their 12% loss in the previous session. The Wall Street Journal reported that the U.S. Justice Department had opened a probe on the company. Dollar General — Shares fell 2% after Citi downgraded Dollar General to sell from neutral, saying Walmart 's increasing dominance in retail, especially on pricing, has the dollar store "on the wrong side." HP Inc. — The tech hardware stock fell about 2% after a downgrade to neutral from buy at Bank of America.
Persons: Myers Squibb, Costco, Hindenburg, Morgan Stanley, , KeyBanc, — CNBC's Hakyung Kim, Lisa Kailai Han, Yun Li, Sarah Min, Jesse Pound, Samantha Subin, Michelle Fox Organizations: Myers, U.S . Food, Drug Administration, Novo Nordisk —, JPMorgan, Costco Wholesale, Revenue, Street Journal, U.S . Justice Department, U.S . Securities, Exchange Commission, Wynn Resorts, Citi, Walmart, HP Inc, Bank of America, HP Locations: Bristol, U.S, Novo Nordisk — U.S, Danish
Dubai’s millionaires are fueling a private jet boom
  + stars: | 2024-09-26 | by ( Lucy Cormack | ) edition.cnn.com   time to read: +9 min
Dubai, UAE CNN —It’s 3am at the VIP airport terminal of Dubai’s Mohammed Bin Rashid Aerospace Hub and an ultra-long range aircraft is readying for take-off. The luxury, 14-seat private jet is headed for Europe, just as soon as its main passenger and his entourage arrive. It’s an elite club that enjoys private jet travel, which can cost anywhere from $50,000 to $200,000-plus for a single leg. Mouallem said the private aviation industry was accustomed to “different kinds of shifts across the world with banning private aviation,” insisting that the focus should be not on banning flights but ensuring greater adoption of sustainable aviation fuel (SAF). So that’s really an operator decision and a supplier decision,” Avetkiyan said, adding that her customers shouldn’t feel guilty about the environmental impact of private aviation.
Persons: UAE CNN —, Mohammed Bin Rashid, it’s, , Lilit Avetikyan, Lilit, Voyex, Vanessa Budah, , Knight Frank, they’ve, Faisal Durrani, Knight Frank Middle, Durrani, Youssef Mouallem, “ You’ve, ” Mouallem, they’re, you’re, ” Youssef Mouallem, Vistajet Mouallem, Mouallem, Avetkiyan, that’s, ” Avetkiyan, “ I’m Organizations: CNN, UAE CNN, Hub, McDonald’s, KFC, United Arab Emirates, Communications, Henley, Partners, US, Knight, Resorts, Resorts Tech, Resorts Dubai, Creative, International, Sharjah —, Gama Aviation, Sharjah International, European Federation for Transport, Sustainable, Emirates, Airbus, SAF, International Air Transport Association, Emirates SAF Locations: Dubai, UAE, Europe, Voyex, India, East, Russia, Africa, Gulf, Saudi Arabia, Sharjah, Netherlands
The Fed effectively cut rates to zero during the pandemic plunge, and the S & P had an extraordinary bull market. How to play it Consider PDD Holdings . PDD Holdings Inc. is a multinational commerce group that owns and operates several online platforms. PDD YTD mountain PDD Holdings, YTD The share price is nearly 44% below the all-time highs of early 2021. If you're looking for a single stock to get involved with to hitch your wagon to PBOC's train, consider PDD Holdings.
Persons: you've, I've, PDD Organizations: Fed, People's Bank of China, Holdings, PDD Holdings Inc, Pinduoduo, PDD Holdings, CNBC, NBC UNIVERSAL Locations: U.S, United States, China
Super Micro Computer shares fell more than 15% on Thursday after the Justice Department reportedly opened a probe into the company, which has been a major beneficiary of the artificial intelligence boom. Super Micro makes computers that companies use as servers for websites, data storage and other applications, including AI algorithms. A prosecutor in the U.S. attorney's office in San Francisco has asked for information about a former employee who has previously accused Super Micro of accounting violations, according to the Journal. Following Hindenburg's report in August, Super Micro said it would not file its annual report for the fiscal year with the U.S. Securities and Exchange Commission on time, sending shares tumbling nearly 20%. Super Micro declined to comment.
Persons: Hindenburg Organizations: Micro Computer, Justice Department, Wall Street Journal, Hindenburg Research, CNBC, Nvidia, AMD, Intel, Super, U.S . Securities, Exchange Commission, Department of Justice Locations: U.S, San Francisco
Chipping away: Shares of Wells Fargo popped around 5% on signs of progress in its multiyear journey to clean up its operations and have its Federal Reserve-mandated asset cap removed. In addition, this news pushes back on the idea that Wells Fargo recently suffered a regulatory setback. 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, Wells, Wells Fargo, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Micron, Street, Department of Justice, AMD, Starbucks, Chipping, Reserve, Bloomberg News, Fed, Bloomberg, Currency, Club, Costco, Jim Cramer's Charitable Locations: China, Wells
The report didn't blow us away, but it still offered plenty of reminders on why Costco investors should stick around. Total revenue in its fiscal 2024 fourth quarter totaled $79.7 billion, missing analysts' expectations of $79.97 billion, according to estimates compiled by LSEG. Costco has succeeded for decades, but the high inflation of recent years has made the company's value-focused ethos really shine. Put it all together, we're increasing our price target on the stock to $950 a share from $875. In the quarter, Costco's membership renewal rate in the U.S. and Canada came in at 92.9%, a tick lower than the 93% rate observed in the third fiscal quarter, while worldwide held constant at 90.5%.
Persons: Gary Millerchip, Ron Vachris, Millerchip, it's, Kirkland, Costco's, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Costco, LSEG, Wholesale, Walmart, Club, Amazon, Costco's, Kirkland, Kirkland Signature, Management, U.S, CNBC Locations: Costco's, Yemen, U.S, Canada, Maine, Richmond , California
Advertisement"The pressure is very, very high," Jennifer Hephzibah, a senior HR professional in India, told Business Insider. 'Glorifying overwork'This always-on culture has come under the spotlight recently following the death of an EY employee, Anna Sebastian Perayil, in July. EY told BI it was "taking the family's correspondence with utmost seriousness and humility" and called Perayil's death an "irreparable loss." AdvertisementCost centers and cheap laborHuge multinational companies, such as EY, Google, Microsoft, Salesforce, and Accenture, have set up cost centers in India. "It definitely exists that multinational companies tend to think, 'We love that the Indians work hard, so let's keep doing that.'"
Persons: , it's, Jennifer Hephzibah, Anna Sebastian Perayil, Peryail's, Sebastian Perayil, Anna, Perayil's, Rajiv Memani, EY, Narayana Murthy, Kavach Khanna, Khanna, Jeanie Chang, let's, Chang, Hephzibah, Jeanie Organizations: Service, International Labour Organization, Business, Boston Consulting Group, Infosys, Google, Microsoft, Accenture, Global, Centers, BI, Gallup State Locations: India, Japan
In the latest poll, 79% of Black registered voters say they would definitely vote, up from 68% in the June poll. The poll suggests Trump’s improvements among Black voters relative to 2020 are driven largely by Black voters under the age of 60. Harris is also generally viewed more favorably among Black registered voters compared with registered voters overall, even after accounting for Black voters’ overwhelming Democratic lean. Democratic Black likely voters, however, are twice as likely as Democratic likely voters overall to consider the economy their top issue (42%, compared with 19%). Results among Black registered voters have a margin of sampling error of plus or minus 7.8 percentage points; among Black likely voters, it is plus or minus 7.7 percentage points.
Persons: CNN — Kamala Harris, Donald Trump, SSRS, Joe Biden’s, Black, Trump, CNN’s, Harris, That’s, – Harris, Biden, Joe Biden, Andrew Harnik, don’t, CNN’s Jennifer Agiesta, Ariel Edwards, Levy Organizations: CNN, Trump, CNN’s, Biden, Black, Girard College, Democrats, Democratic Party, Black Democratic, Democratic Black, Democratic, White Americans, Black Americans Locations: Black, Philadelphia , Pennsylvania, United States
I had never visited San Francisco and arrived without a place to live. Once I got my bearings in San Francisco, I would start chasing after the dream job for which I uprooted my life. The perks were as good as advertised, and Google met my expectations of a dream job. I had moved across the country for my dream job, so I wouldn't let a four-hour daily commute stop me now. It started by uprooting my life and commuting four hours a day for my dream job at Google, and it was totally worth it.
Persons: , Mike Manalac, It's, Vince Vaughn, Owen Wilson, San Francisco I, Tesla, I'd, don't, Lauryn Haas Organizations: Service, Google, CPA, Business, Walmart's, Silicon, Baltimore, Facebook, Fortune, Big Tech, Amazon Prime, LinkedIn, Sunnyvale, San, lhaas Locations: Chicago, CohnReznick, Baltimore, PwC, San Francisco, Sunnyvale , California, Silicon Valley, San, San Bruno, Sunnyvale, East Coast , West Coast, Midwest
CATL Goldman is buy-rated on Chinese battery maker Contemporary Amperex Technology Co, or CATL. The company — which has a global market share of 40% — "is the largest and most innovative battery maker globally," the bank's analysts wrote. Goldman has a price target of 307 Chinese yuan ($43.65) on the stock, giving it potential upside of around 55%. Gotion Another Shenzhen-listed Chinese stock Goldman likes is Gotion High Tech . Goldman has a buy rating on Gotion at a price target of 31.40 Chinese yuan, giving it potential upside of around 66.4%.
Persons: Goldman Sachs, — CATL, CATL Goldman, CATL, Goldman, — CNBC's Michael Bloom Organizations: LG Energy, Panasonic, Samsung SDI, Amperex Technology Co, Shenzhen Stock Exchange, Battery Technology, China Clean Technology, High Tech Locations: China, Gotion, Shenzhen
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