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Dockworkers strike in a picket line outside of the Port of Houston Authority on October 01, 2024 in Houston, Texas. The strike, affecting 36 ports, marked a historic event and was the first by the union since 1977. (Photo by Brandon Bell/Getty Images)The tentative agreement to suspend the International Longshoremen's Association strike may have consumers and businesses breathing a sigh of relief. In a statement Friday, the ILA said it wants to tighten the language related to the use of automation at ports. It is only a tentative agreement and automation at ports will remain a major stumbling block," said Peter Sand, chief shipping analyst at supply chain intelligence firm Xeneta.
Persons: Brandon Bell, Peter Sand, Harold Daggett, Daggett, Dennis Daggett, Harold Daggett's, that's, Sand, Dr, Michael Nacht, Larry Henry Organizations: Port, Houston Authority, International Longshoreman's Association, United States Maritime Alliance, International Longshoremen's Association, ILA, CNBC, Office, GAO, Public, University of California, Defense, ContainerTrac, International, Warehouse Union, Pacific Maritime Association Locations: Houston , Texas, U.S, Berkeley, Long Beach, Los Angeles , California, West Coast
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer SC Ports Authority CEO Jim Newsome on automation at ports and impact of strikesJim Newsome, Former South Carolina Ports Authority CEO, joins 'Closing Bell: Overtime' to discuss the port strikes and what happens next.
Persons: Jim Newsome Organizations: Former SC Ports, Former South Carolina Ports
Stocks struggled this week as rising tensions in the Middle East set off the strongest rally in oil prices since March 2023. "The stock market has been living up to October's reputation of increased volatility," said Glen Smith, chief investment officer at GDS Wealth Management. Inflation report, Fed minutes on deck In the week ahead, investors will keep an eye on a couple of potential catalysts. On Wednesday, investors will parse minutes from September's central bank gathering for insights into the future path of monetary policy. "I would say the inflation report is probably less important than it used to be," Dickson said.
Persons: Stocks, Glen Smith, Said, Mike Dickson, Chris Zaccarelli, Zaccarelli, Investment's Dickson, It's, Dickson, Wells, John Williams, JPMorgan Chase Organizations: Dow Jones Industrial, Nasdaq, Federal Reserve, GDS Wealth Management, Federal, Horizon Investments, CNBC Pro, Independent, Alliance, PepsiCo, Delta, JPMorgan Chase, PepsiCO, New York Fed, PPI, University of Michigan, BlackRock, Bank of NY Mellon, JPMorgan Locations: White, Wells Fargo, Fastenal, Wells
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed will have a series of 25 bps rate cuts going forward, says Wharton's Jeremy SiegelJeremy Siegel, Wharton School professor of finance, joins 'Closing Bell' to discuss the spate of economic data to cross the tape, what the soft landing means for stocks, and much more.
Persons: Wharton's Jeremy Siegel Jeremy Siegel Organizations: Wharton School
Banks up : Financials were also strong Friday, with Wells Fargo and Morgan Stanley our top performers on the session. Beer boss : Shares of Club stock Constellation Brands were bouncing Friday, one day after a steep post-earnings slide . 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, It's, WTI, Prices, Banks, Wells, Morgan Stanley, Wells Fargo, Jim, Goldman Sachs, Beer, Bill Newlands, Newlands, Jim Cramer's Organizations: CNBC, ., Fed, West Texas, Drug Administration, Centers for Disease Control, National Institutes of Health, NEC, Club, Abbott Laboratories, Constellation Brands, Modelo, Constellation, Morning, Costco, Jim Cramer's Charitable Locations: U.S, Israel, Mexico, Wells
US stocks surged after the September jobs report exceeded expectations with 254,000 jobs added. Wage growth saw a resurgence, with average hourly earnings rising 0.4% month-over-month. AdvertisementUS stocks surged on Friday after the September jobs report blew past economist estimates. The chances of a 50 basis point cut plunged to 10% after the jobs report was released, compared to 53% last week, according to the CME FedWatch Tool. Another strong aspect of the jobs report was wage gains, according to Capital Economics.
Persons: , James Knightley, Knightley, Paul Ashworth Organizations: Service, ING, Federal Reserve, Capital Economics
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMicrosoft will be an early driver of AI agents, says Melius' Ben ReitzesBen Reitzes, Melius Research head of technology research, joins 'Closing Bell: Overtime' to discuss tech, the next wave of AI and his outlook on the semiconductor sector.
Persons: Melius, Ben Reitzes Ben Reitzes Organizations: Microsoft
Red Lobster's new chief executive Damola Adamolekun during an interview with CNN at a Red Lobster in Long Island, New York, last week. CNNIn Springfield, he first ate at a Red Lobster with his parents and two siblings after church one Sunday. Red Lobster was where he, like millions of Americans, experienced eating lobster and cracking crab legs for the first time. Beyoncé sang about taking a romantic partner to Red Lobster in her 2016 hit song “Formation.”After Red Lobster filed for bankruptcy, Flava Flav ordered the whole menu to try to save the company. Red Lobster closed more than 100 restaurants this year, including a location in Orlando, Florida, shown this year.
Persons: Damola Adamolekun, , ” Adamolekun, It’s, , Adamolekun, Bill Darden, Mills, Chris Rock, Nicki Minaj, Beyoncé, Flav, “ Mr, ” —, Kevin Lamarque, Clarence Otis Jr, RJ Hottovy, Hottovy, Adamolekun’s, ” Hottovy, , Red, Phelan M, can’t, John Paulson, Paulson, P.F, Chang’s, Morgan McClure, Fortress, ” McClure, Brandon Bell, isn’t Organizations: New, New York CNN, CNN, Fortress Investment, Fortress, Red, Boomers, Darden, Thai Union Group, Former Red Lobster, Thai Union, As Thai Union, Thai, Brown University, Harvard Business School, Paulson & Co Locations: New York, Long, , New York, Nigeria, Zimbabwe, Netherlands, Springfield , Illinois, United States, Long Island , New York, Springfield, America, Alexandria , Virginia, Olive, Thai Union, Thai, Orlando , Florida, P.F, Chang’s, Columbia , Maryland, New York City, Scottsdale , Arizona, Austin , Texas
In today's big story, Google Search is going to look a whole lot different thanks to generative AI . According to Rhiannon Bell, the vice president of user experience for Google Search, it's a "pretty dramatic shift from where we were before." AdvertisementAnd yes, in case you were wondering if it was coming, Google is going to start putting ads in its AI Search results — but only when Google deems them relevant. Google's new AI-organized search results GoogleSearch's revamp addresses a big concern for the rest of the internet. One survey conducted earlier this year found 60% of people who used Google's AI search found it more effective than non-AI powered Search.
Persons: , Morgan Stanley, Tyler Le, Hugh Langley, Tech's, Hugh, Rhiannon Bell, Gen, Jenny Chang, Rodriguez, Ned Davis, Kalshi, Andy Jassy F, Carter Smith, Chelsea Jia Feng, Andy Jassy, Marc Andreessen, he's, Alyssa Powell, dockworkers, hasn't, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Business, Service, Costco, Tech, Google, Getty, Ned, Ned Davis Research, CFTC, Bloomberg, Getty Images, Amazon, LinkedIn, YouTube, EU . US Department of Labor Locations: China, San Francisco, EU, New York, London
Opening Bell: October 4, 2024
  + stars: | 2024-10-04 | 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 EmailOpening Bell: October 4, 2024Watch the opening bell for the New York Stock Exchange and the Nasdaq from October 4, 2024.
Organizations: New York Stock Exchange, Nasdaq
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina has unabashed momentum and it's very, very bullish, says Renaissance Macro's Jeff deGraafJeff deGraaf, Renaissance Macro chairman and head of technical research, joins 'Closing Bell' to discuss deGraaf's recent note on China, why the rally in Chinese stocks may just be getting started, and much more.
Persons: Jeff deGraaf Jeff deGraaf Organizations: China Locations: China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed is ahead of the curve and in a good spot, says Jefferies' David ZervosJefferies' David Zervos and Former CEA Chair Jason Furman, join 'Closing Bell: Overtime' to discuss the jobs report, markets and the Fed.
Persons: Jefferies, David Zervos Jefferies, David Zervos, Jason Furman
US stocks rose 1% and the Dow hit a record as the jobs report alleviated slowdown worries. AdvertisementUS stocks surged about 1% on Friday after the September jobs report soothed fears of an economic slowdown. According to the CME FedWatch Tool, odds of a 50-basis point cut dropped to 0% from 53% last week. Consensus now expects two 25-basis point rate cuts from the Fed at their next two FOMC meetings before year-end. ING's chief economist, James Knightley, said the jobs report was "unambiguously strong."
Persons: , Dow, Sonu Varghese, Jeffrey Roach, James Knightley, Knightley Organizations: Dow, Service, Federal, Fed, Financial Locations: Here's
She found exactly what she was looking for in the NBC missing persons procedural drama “Found,” which returns for its sophomore season on Thursday. That story cited the Black and Missing Foundation, a nonprofit dedicated to bringing awareness to missing people of color. Okoro Carroll did not consult the organization until the end of the first season, but said the founders have given their seal of approval. Okoro Carroll began researching the role that public relations play in missing persons cases, which the Department of Justice has said can add up to 600,000 new missing people every year. Trae Patton / NBCUniversalAt the time, Okoro Carroll knew that a show with a deeply flawed Black female lead would be a hard sell for network TV.
Persons: Veronica Fisher, ” Shanola Hampton, Nkechi Okoro Carroll, Hampton, Gabi Mosley, ” Hampton, hasn’t, , Okoro Carroll, Gabi, Sir, , Mark, Paul Gosselaar, Nkechi Okra Carroll, Shanola Hampton, Kelli Williams, Trae Patton, Shonda Rhimes, Kerry Washington’s Olivia Pope, Viola Davis ’ Annalise Keating, , antiheroes, Viola, Kerry, Shonda, Gaby “, I’m, Brett Dalton, Mark Trent, Anisa Nyell Johnson, Shaker, Karan Oberoi, Dahn, Margaret, NBC's, Matt Miller, Gabi’s, Lacey, Gabrielle Walsh, she’s, He’s, Sonay Hoffman, we’re, we’ve Organizations: Showtime, NBC, , NBC News, D.C, Department of Justice, Bell, Comcast Locations: Washington, Pasadena , Calif, Hampton,
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew Century's Claudia Sahm talks what to expect from the September jobs reportClaudia Sahm, New Century Advisors chief economist and former Fed economist, joins 'Closing Bell Overtime' to talk Friday's jobs data and how it will impact the Federal Reserve's next rate hike decision.
Persons: Claudia Sahm Organizations: Claudia Sahm , New Century Advisors, Fed, Federal Locations: Claudia Sahm ,
Nvidia CEO Jensen Huang said in an interview with CNBC's "Closing Bell Overtime" that demand for the company's next-generation artificial intelligence chip Blackwell is "insane." "Everybody wants to have the most and everybody wants to be first," Huang said during the interview, which aired on Wednesday. Nvidia has been the main beneficiary of the artificial intelligence boom, with shares up about 150% year-to-date. The company's revenue continued to surge during the fiscal second quarter to $30.04 billion, up 122% on an annual basis. Jensen said Nvidia plans to update its AI platform each year to increase performance by two to three times.
Persons: Jensen Huang, CNBC's, Blackwell, Huang, Colette Kress, Jensen Organizations: Nvidia, Microsoft, Meta, CNBC Locations: Blackwell
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe expect a rebound for the art market in the second half of 2024, says Christie's CEOGuillaume Cerutti, Christie’s CEO, joins 'Closing Bell Overtime' to talk softening in the art and collectors market, its new Hong Kong location, and more.
Persons: Guillaume Cerutti Locations: Hong Kong
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSeems like China's stimulus hype is fading, says CFRA's Sam StovallSam Stovall, CFRA Research chief investment strategist and Barbara Doran, BD8 Capital Partners CIO, join 'Closing Bell Overtime' to talk the day's market action.
Persons: CFRA's Sam Stovall Sam Stovall, Barbara Doran Organizations: CFRA Research, BD8 Capital
Netflix's "Nobody Wants This" centers on the relationship between a rabbi and an agnostic podcast host. The show is loosely inspired by creator Erin Foster's relationship with her husband, Simon Tikhman. Erin Foster got the idea for 'Nobody Wants This' in 2019 while converting to JudaismSimon Tikhman and Erin Foster in September. Stefania Rosini/Netflix"It's kind of a love letter to our relationship," Foster said of "Nobody Wants This" on her podcast. "I intentionally made the characters really different than the people are in real life because I didn't want to get divorced," Foster told Today.com.
Persons: Erin Foster's, Simon Tikhman, Foster, Tikhman, , Netflix's, Noah, Adam Brody, Joanne, Kristen Bell, Erin Foster, Charley Gallay, Netflix Foster, Harper's, Sara, Oly Obst, Tudum, Bell, Brody, Noah aren't, Stefania Rosini, Simon, Noah's, Morgan, Justine Lupe, Today.com, Saeed Adyani Organizations: Service, Netflix, Los Angeles Times
Don't expect an OpenAi IPO anytime soon, says Plexo's Lo Toney
  + stars: | 2024-10-03 | 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 EmailDon't expect an OpenAi IPO anytime soon, says Plexo's Lo ToneyLo Toney, Plexo Capital founding managing partner, joins 'Closing Bell' to discuss OpenAI raising billions in funding and what it could mean for the outlook for the tech company.
Persons: Plexo's Lo Toney Lo Toney Organizations: Plexo Capital
EVgo — Shares advanced more than 9% after JPMorgan upgraded the electric vehicle charging company to overweight . Levi Strauss — Shares plunged 12% after the denim maker trimmed its full-year revenue guidance and delivered fiscal third-quarter revenue that missed analysts' expectations. Constellation Brands — The beverage company rose slightly on the back of better-than-expected fiscal second-quarter earnings. Revenue of $2.92 billion, however, marginally missed expectations. Stellantis — The automaker was down more than 3% in the premarket after a Barclays downgrade to equal weight from overweight.
Persons: Mizuho, Jensen Huang, CNBC's, Blackwell, Eli Lilly, Bill Peterson, Levi Strauss —, Stellantis, Henning Cosman, — CNBC's Brian Evans, Lisa Han, Jesse Pound, Sean Conlon Organizations: Mizuho, Nvidia –, U.S . Food, Drug Administration, JPMorgan, Dockers, Constellation Brands, Barclays Locations: U.S
EVgo — Shares soared 55% after the electric vehicle charger company received a $1.05 billion conditional loan from the Department of Energy. Hims & Her Health had previously developed compound versions of the drugs to take advantage of the shortage. Joby Aviation – Shares dropped more than 7%, paring back gains made in the previous session. Palantir recently announced that it's partnering with Edgescale AI to deliver Live Edge, a platform that will utilize artificial intelligence for manufacturing, utilities and other areas. Investors see both Vistra and Constellation as becoming key supporters of data center growth for developing tech companies' artificial intelligence technologies.
Persons: Bill Peterson, Eli Lilly, paring, Joby, Levi Strauss, Levi, Jensen Huang, CNBC's, Blackwell, Henning Cosman, Palantir, Sundar Pichai, Yun Li, Lisa Kailai Han, Hakyung Kim Organizations: Department of Energy, JPMorgan, U.S . Food, Drug Administration, Toyota, Dockers, Wolfspeed, Mizuho, Nvidia, Barclays, Constellation Energy, Nikkei, Investors Locations: U.S, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSeasonality is still here despite an okay September, says NewEdge's Cameron DawsonNewEdge Wealth's Cameron Dawson, Virtus’ Joe Terranova and Morgan Stanley's Ellen Zentner, join 'Closing Bell' to discuss the Fed, potential for a soft landing and their market outlook.
Persons: NewEdge's Cameron Dawson, Wealth's Cameron Dawson, Virtus ’ Joe Terranova, Morgan Stanley's Ellen Zentner Organizations: Virtus ’
A Google VP said the updates are "a pretty dramatic shift from where we were before." Advertisement"From a user perspective, this is a pretty dramatic shift from where we were before," said Rhiannon Bell, vice president of user experience for Google Search, in a roundtable with reporters. Of course, it leads to questions about how Google Search rankings — an ever-changing, ever-elusive algorithm — will work with these new formats. Using Google Lens to searchGoogle is upgrading Lens, a feature that uses the phone camera to search for information about what it sees. "Today, 20% of all Google Lens searches are actually shopping-related, which is pretty interesting," said Lens product director Lou Wang.
Persons: , Rhiannon Bell, Bell, Lou Wang Organizations: Google, Google VP, Service, Google's, Lens Locations: Lens
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with NewEdge Wealth's Cameron Dawson, Virtus’ Joe Terranova and Morgan Stanley's Ellen ZentnerNewEdge Wealth's Cameron Dawson, Virtus’ Joe Terranova and Morgan Stanley's Ellen Zentner, join 'Closing Bell' to discuss the Fed, potential for a soft landing and their market outlook.
Persons: NewEdge Wealth's Cameron Dawson, Virtus ’ Joe Terranova, Morgan Stanley's Ellen Zentner NewEdge Wealth's Cameron Dawson, Morgan Stanley's Ellen Zentner Organizations: Virtus ’
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