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The group, calling itself Riverfolk Rescue, has since grown to nearly 200 volunteers who are reaching isolated communities, dropping off supplies and shoveling mud across western North Carolina. Sarah Beth Neal, bottom, with Riverfolk Rescue volunteers. The group’s team in Florida is still assessing the situation there, but local responders so far appeared to have things handled, Neal said. Vast quantities of reddish-brown mud are an added obstacle, said Alexander Smith, a Riverfolk Rescue volunteer. Riverfolk Rescue vehicles drive under a downed tree.

Persons: he’d, didn’t, Tim Rogers, ” Rogers, “, ” Neal, she’d, Neal, Sarah Beth Neal, There’s, Alexander Smith, ”, Hampton, Kristin Kastelic, Kastelic, It’s, ” Kastelic, who’d, ’ ” Organizations: Hampton, U.S . Geological Survey, Facebook, Riverfolk Rescue, East, NBC Locations: Hampton, Charlotte, N.C, “, Sweetwater , Tennessee, North Carolina, Florida, NC, U.S, Tennessee, Bryson City , North Carolina, Smoky, Asheville

☆ Tesla investors don't seem to trust Elon Musk like they used to. Is that because of Twitter?
▼ + stars: | 2024-10-12 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

Elon Musk says self-driving Tesla cabs — something he's talked about for a long time — are just around the corner. The next day, Wall Street declared itself thoroughly unimpressed: Investors knocked down Tesla shares by nearly 9%. Related storiesAnd at the same time, Tesla investors no longer seem so forgiving. Since Musk acquired Twitter — after failing at his attempt to back out of a signed deal to acquire Twitter — Tesla shares are down 4.7%. Something like "Tesla investors don't care about Musk's Twitter travails — at all."

Persons: Elon Musk, he's, aren't, —, Elon Musk —, Musk, Reed Hastings, Tesla, Bill Gurley —, Uber Organizations: Service, Star, Wall Street, Tesla, Twitter, SpaceX, Netflix

☆ This niche AI play is seeing business growth rates that are triple the pace of the data centers
▼ + stars: | 2024-10-12 | by ( Paulina Likos | ) www.cnbc.com time to read: +16 min

As artificial intelligence fuels the boom in data center growth, investors are eyeing a new frontier: the companies keeping these digital powerhouses cool. That's because historically, data centers used air cooling to manage the heat generated by traditional cloud applications. Triple data center growth Vertiv and Modine are legacy air cooling players that entered the liquid cooling market through acquisitions, while nVent is a pioneer. "The need for liquid cooling is not cannibalizing the need for mechanical (air) cooling," Matt Summerville, an analyst at D.A. "The need for liquid cooling is not cannibalizing the need for mechanical (air) cooling," Matt Summerville, an analyst at D.A.

Persons: Modine, there's, Dean Dray, Matt Summerville, Davidson, Summerville, William Blair, Brian, nVent, Dray, Vertiv, Jefferies, Saree Boroditsky, Boroditsky Organizations: Modine, RBC Capital Markets, CNBC, D.A, CoolTerra, TMG, Scotts, Scotts Springfield Manufacturing, Asia Pacific, CDU, Summerville, Luza Locations: Scotts Springfield, Asia, Summerville

☆ A 32-year market vet shares 5 labor market indicators showing the US economy is barreling toward a recession — putting an overvalued stock market at risk for major declines
▼ + stars: | 2024-10-12 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

This is while S&P 500 valuations remain high, putting the market at risk for big declines. In a September note, Wolfenbarger shared the below chart from Bank of America showing 19 of 20 valuation measures they monitor as being overvalued. That means the S&P 500 would have to fall 60% just to return to the historical average. But it's still unclear how accurate the September jobs data is. Future revisions and further lackluster jobs data could resume investor fears that a downturn is a serious potential threat.

Persons: Jon Wolfenbarger, —, Merrill Lynch, St, Louis Fed, Wolfenbarger, September's, it's, David Rosenberg Organizations: Service, Federal Reserve, Bureau of Labor Statistics, JPMorgan, Conference Board, Global, Bank of America, Rosenberg Research, Nvidia Locations: St

The Summary The tornado outbreak that Hurricane Milton spawned in Florida was a leading cause of death and damage from the storm. Hurricane Milton brought an earlier-than-expected dose of chaos before it made landfall this week, as supercell thunderstorms — which feature rotating updrafts and can produce tornadoes — raced across the state. From 1995 through 2023, just five tornadoes produced by tropical storms were rated that high. “With the initial tornadoes, that particular band of showers and storms from Milton seemed to really eject pretty far out in front of the hurricane,” Gallus said. That’s how it played out during Milton, Gallus said: The twisters “occurred right where we see most tornadoes happen.”But in Milton’s case, he noted, the tornadoes were particularly concentrated.

Persons: Milton, Hurricane Milton, “, ”, Donal Harrigan, Harrigan, Giorgio Viera, Ivan, Rita, Harvey, Bill Gallus, Milton “, ” Gallus, we’ve, Gallus, —, Helene Organizations: National Weather Service, Prediction, NWS, Getty, Iowa State University Locations: Florida, South Florida, U.S, Hurricane, Lucie County, Hurricane Milton, Palm Beach, Lake Okeechobee, Miami, Lakewood Park, Fla, Kansas, Milton

☆ China’s ‘whatever it takes’ moment? Investors hope for hundreds of billions in new stimulus
▼ + stars: | 2024-10-11 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +4 min

China's Ministry of Finance, pictured here in Beijing in 2021, is refunding taxes and cutting fees to support economic growth. China's Finance Minister Lan Fo'an is set to hold a press conference at 10 a.m. on Saturday local time on "intensifying" fiscal stimulus policies, the country's State Council Information Office said. Authorities are likely to affirm that at the press conference on Saturday, Zhao said. At the time, Chinese major indexes began to rally, surging over 25% as investors cheered on the slate of stimulus measures. Lan Fo'an, China's Minister of Finance, attends a press conference during the second session of the 14th National People's Congress (NPC) in Beijing on March 6, 2024.

Persons: Cong, Lan Fo'an, NDRC, Zheng Shanjie, Chen Zhao, CNBC's, Zhao, Chetan Ahya, Morgan Stanley, Wang Zhao Organizations: of Finance, Bloomberg, Getty, China's Finance, Beijing, Investors, National Development, Reform, Authorities, China's Ministry, Finance, China's, National People's Congress, Afp Locations: Beijing, country's, Shanghai, Asia

☆ Investors face delays moving certain assets from TreasuryDirect
▼ + stars: | 2024-10-11 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

As investors revisit bonds amid falling interest rates, some are encountering longer waits to transfer certain assets purchased via TreasuryDirect, a platform run by the U.S. Department of the Treasury. TreasuryDirect, which sells government-backed assets, experienced a surge in demand in recent years as investors flooded into Series I bonds that offered record-high yields amid elevated inflation. Now, other assets, such as Treasurys, are taking longer to transfer from TreasuryDirect to brokerage accounts. When asked about wait times, the spokesperson said it "depends more on complexity than capacity" and that processing times are "well under one year right now and declining daily." The agency aims to "modernize the retail program in the future" and is designing solutions "with the customer in mind," the spokesperson said.

Organizations: U.S . Department of, Treasury, Street, Finance, Social, Administration, Fiscal Service, CNBC Locations: TreasuryDirect, Treasury's

☆ Pharrell Williams says writing 'Happy' broke him. It went on to become one of the biggest songs of the 2010s.
▼ + stars: | 2024-10-11 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +3 min

Pharrell Williams told Zane Lowe's Apple Music interview series that writing "Happy" broke him. Williams said writing "Happy" for "Despicable Me 2" came from a place of sarcasm. He said the song's success made him realize his insignificance in the universe. AdvertisementPharrell Williams' said "Happy" — one of the biggest hits of the 2010s — "broke" his worldview. Williams said the song's success opened his eyes to his insignificance in the universe.

Persons: Pharrell Williams, Zane Lowe's, Williams, —, Oscar Organizations: Zane Lowe's Apple, Service

☆ Novo and Eli contender Zealand Pharma heralds its obesity drug alternative: It's our 'crown jewel'
▼ + stars: | 2024-10-11 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +4 min

Jaap Arriens | NurPhotoDanish biotech Zealand Pharma is targeting the "next generation" of weight loss drugs as competitors pile into a market dominated by heavyweights Novo Nordisk and Eli Lilly . Last month, Zealand Pharma announced positive top-line results from a phase 1b trial of its weight-loss drug, a GLP-1/GLP-2 receptor dual agonist called Dapiglutide. Stock Chart Icon Stock chart icon Zealand Pharma. Novo Nordisk is also experimenting with its own version of the treatment, combining the GLP-1 component Semaglutide with amylin analog Cagrilintide in a candidate called CagriSema. Syringes from weight loss drugs "Wegovy," "Ozempic" and "Mounjaro."

Persons: Jaap Arriens, Eli Lilly, Adam Steensberg, Steensberg Organizations: Zealand Pharma, Novo Nordisk, CNBC, pharma, Nordisk, Union, Getty Locations: U.S

☆ Here’s the deflation breakdown for September 2024 — in one chart
▼ + stars: | 2024-10-11 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

However, prices for many physical goods have deflated as supply-and-demand dynamics return to normal following pandemic-era contortions. "Outside of goods prices, I don't think we'll see price cuts," said Mark Zandi, chief economist at Moody's. That served to weaken demand, which also pushed down prices, economists said. Outside of supply-demand dynamics, the U.S. dollar's strength relative to other global currencies has also helped rein in prices for imported goods, economists said. Energy, food and consumer electronicsOutside of imported goods, consumers may also see a "normalization" of prices in food and energy, Zandi said.

Persons: Jeff Greenberg, Mark Zandi, Zandi, women's outerwear, Sarah House Organizations: Universal, Getty, Finance, Social Security, Vehicles, Wells, Wells Fargo Economics ., U.S . Federal, Fed, U.S, Energy Locations: Wells Fargo, U.S

☆ Chappell Roan on the surprising Grammy award she really wants to win
▼ + stars: | 2024-10-11 | by ( Elizabeth Wagmeister | ) edition.cnn.com time to read: +5 min

CNN —Most musicians dream of winning a Grammy, but there’s only one award Chappell Roan is aiming for. So what better way to cap off her mega year than by winning her first Grammy Award? Creative director Ramisha Sattar and recording artist Chappell Roan. Universal Music Group“Please, please, please put some type of energy, a spell, whatever, that we get nominated for the Grammy,” Roan said in the video. “She is just as much Chappell Roan as I am, honestly,” Roan told CNN.

Persons: Chappell Roan, ”, Taylor Swift, Roan, “, “ I’ve, I’ve, Ramisha Sattar, ” Roan, “ It’s, Kamala Harris, Sattar, Gen Z Lisa Frank, ” Sattar, Chappell Organizations: CNN, Austin, MTV, Recording, Universal, ” Universal Locations: Roan, Instagram

☆ Chart of the Day: Tesla and Uber
▼ + stars: | 2024-10-11 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChart of the Day: Tesla and UberThe Investment Committee’s Bryn Talkington reveals the best and worst stocks in today’s Chart Of The Day.

Persons: Tesla, Bryn Talkington

☆ Ride-sharing giants Uber, Lyft jump after Tesla's 'toothless taxi' fails to excite investors
▼ + stars: | 2024-10-11 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Klaudia Radecka | Nurphoto | Getty ImagesTesla 's hyped robotaxi unveiling posed a threat to Uber 's ride-sharing aspirations, but it has turned into a boon for the stock instead. That is a massive turnaround for Uber's stock, which is now up nearly 22% over the past month and about 38% for the year. "We believe this helps minimize the ongoing overhang on UBER's stock from TSLA's aspirations in the robotaxi space." Although Tesla appears committed to developing its robotaxi fleet without partnering with existing ride-sharing platforms, Colantuoni expects it could ultimately have to look into this option. Tesla "potentially underappreciates the obstacles to scaling a robotaxi fleet" and could struggle to scale its fleet operations without offering access to demand through Uber and Lyft, he said.

Persons: Klaudia, Tesla, Uber, Jefferies, John Colantuoni, TSLA, Colantuoni, Scott Brauer Organizations: Nurphoto, Lyft, Nasdaq, Jefferies, Tesla, Bloomberg, Getty Locations: Krakow, Poland, Seattle , Washington

☆ Charts indicating Alphabet may be bottoming here even with government break-up overhang
▼ + stars: | 2024-10-10 | by ( David Keller | ) www.cnbc.com time to read: +3 min

Let's dig into what this pattern represents, and what key price level investors should be watching for in the days to come. This week's sell-off could result in the formation of the right shoulder, completing the set-up of this bullish price pattern. Further price support could emerge at the 61.8% retracement level using the March to September rally as a framework for the analysis. Note how this neckline lines up almost perfectly with the 38.2% Fibonacci retracement level using the framework described above. Other Magnificent 7 stocks Interestingly enough, Alphabet is not the only Magnificent 7 name testing its 200-day moving average this week.

Persons: GOOGL, David Keller Organizations: Inc, Microsoft Corp, CMT, CNBC, NBC UNIVERSAL

☆ JPMorgan downgrades industrial bellwether after recommending it for almost 15 years
▼ + stars: | 2024-10-10 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

After 15 years of bullishness on Honeywell , JPMorgan is finally moving to the sidelines. In a Thursday note, the Wall Street bank downgraded shares of the Charlotte-based industrial manufacturer to a neutral rating from overweight. Shares of Honeywell are up just 1% on the year but stand to gain almost 10% over the next year, based on Tusa's updated price target. HON YTD mountain HON YTD chart While Tusa said Honeywell shares are cheap, the company's planned divestitures are a short-term headwind. Still, Tusa applauded Honeywell's defensive growth profile, extended visibility from a long cycle backlog and renewed focus on growth under a new CEO.

Persons: Stephen Tusa, YTD, Tusa, divestitures Organizations: Honeywell, JPMorgan Locations: Charlotte

☆ Cramer's Lightning Round: Robinhood is a buy
▼ + stars: | 2024-10-10 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Micron's year-to-date stock performance. Stock Chart Icon Stock chart icon American Tower's year-to-date stock performance. Stock Chart Icon Stock chart icon ADMA Biologics' year-to-date stock performance. Stock Chart Icon Stock chart icon Robinhood's year-to-date stock performance. Stock Chart Icon Stock chart icon CVS's year-to-date stock performance.

Persons: Howmet, Modine, ADMA Biologics, ADMA Organizations: Dominion Freight, Old Dominion Freight, Union Pacific, Micron, Howmet Aerospace, Modine

☆ Trump Media shares up 100% from recent low as DJT rally continues on heavy trading
▼ + stars: | 2024-10-10 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +1 min

In this article DJT Follow your favorite stocks CREATE FREE ACCOUNTOmar Marques | Lightrocket | Getty ImagesShares of Trump Media shot up as much as 19% Thursday morning, keeping up the momentum of a rally that has recovered some of the Truth Social operator's steep losses from a recent weekslong sell-off. DJT stock was trading around $24 per share shortly after the market open, more than double the $11.75 price it fetched in an intraday trading low, just over two weeks ago. Stock Chart Icon Stock chart icon Trump Media (DJT) Stock PriceThe surge came amid little positive news about the company, but coincided with some recent presidential election polls and other indicators that allies of former President Donald Trump, its majority shareholder, took as positive signs. "It doesn't have anything to do with fundamentals," said Anne Stevenson-Yang, founder and research director of short seller J Capital Research, in an interview with CNBC. "It's a bet on Trump, is all," she said.

Persons: Omar Marques, Donald Trump, Trump, Anne Stevenson, Yang Organizations: Lightrocket, Getty, Trump Media, Republican, White, J Capital Research, CNBC, Trump

☆ Using options to generate income from a boring stock
▼ + stars: | 2024-10-10 | by ( Michael Khouw | ) www.cnbc.com time to read: +4 min

Options traders like to say that there are strategies that can profit if a stock rises, falls, or goes nowhere at all. Crown Holdings (CCK) , which reports earnings next week, may have the set-up we're looking for. Demand for sustainable and recyclable packaging drives growth in the beverage can market, a significant segment for Crown Holdings. In the street's view, Crown Holdings is a reasonable business at a reasonable valuation (19 price-earnings ratio). This involves purchasing the lower implied volatility, longer-dated options, and selling nearer-dated options to capitalize on accelerated decay ("theta").

Organizations: Crown Holdings, Ball Corporation, YTD, Holdings, CNBC, NBC UNIVERSAL

☆ Why The New York Times' lawyers are inspecting OpenAI's code in a secretive room
▼ + stars: | 2024-10-10 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +11 min

Lawyers for The New York Times are poring through ChatGPT's source code and training material. It is there to be inspected by lawyers for The New York Times. The Times' lawyers can share their notes with up to five outside consultants to help them understand what the code does. That text includes stories from The New York Times, articles from other publications, and an untold number of copyrighted books. OpenAI similarly used high-quality, well-researched, well-written, and fact-based New York Times articles to make ChatGPT so impressive, the Times argues.

Persons: morass, —, Sam Altman, Susman Godfrey, Mother Jones, George RR Martin, Jodi Picoult, Nehisi Coates, Kristelia García, Axel Springer, García, OpenAI, Justin Nelson, Godfrey, Nelson, Daniel Ek, Sean Parker, Matthew Sag, poring, Christa Laser Organizations: The New York Times, Service, Times, Publishers, Fox News, The New York Daily News, Georgetown University Law, Business, New York Times, Microsoft, Napster, Anthropic, OpenAI, Spotify, Emory University, America, Cleveland State University Locations: United States, Manhattan

☆ Here's the inflation breakdown for September 2024 — in one chart
▼ + stars: | 2024-10-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Prices fall at the gas pumpAnnual food inflation is 'fairly tame'Frederic J. "What happens there can really move the dial when it comes to overall inflation and core inflation." CPI shelter inflation — which includes rental prices and an equivalent measure for homeowners — has gradually declined but remained stubbornly high. In September, shelter inflation throttled back on a monthly basis, to 0.2% from 0.5% in August. "Shelter inflation is now definitively moderating," Zandi said.

Persons: David Paul Morris, It's, Mark Zandi, Zandi, Sarah House, Frederic J, Brown, —, That's, that's Organizations: Bloomberg, Getty, U.S . Bureau of Labor Statistics, Wells, Wells Fargo Economics, U.S . Federal Reserve, AFP, CPI Locations: Wells Fargo

☆ There may be a trade opportunity in this e-commerce stock. How to play it with options
▼ + stars: | 2024-10-09 | by ( Tony Zhang | ) www.cnbc.com time to read: +3 min

With a surprisingly strong labor market, consumer spending has remained resilient and e-commerce stocks like Shopify (SHOP) present attractive opportunities. This price action indicates strength and suggests that the stock has found a strong base from which it can continue higher. With the stock now trading above its breakout level and positive momentum continuing to build, the chart supports further upside. The trade: To express a bullish outlook on Shopify, I'm suggesting selling the Nov 22, $82/74 Put Vertical @ $3.10 Credit. This structure entails: Selling the Nov 22 $82 Put @ $5.85 Buying the Nov 22 $74 Put @ $2.75 View this link in OptionsPlay with updated pricing.

Persons: Shopify, Shopify's Organizations: Forward, CNBC, NBC UNIVERSAL

☆ This software ETF is breaking out from a multi-year range, according to the charts
▼ + stars: | 2024-10-09 | by ( Frank Cappelleri | ) www.cnbc.com time to read: +4 min

Of the 175 key ETFs that we track, just one made a new all-time high on Tuesday – the iShares Expanded Tech-Software Sector ETF (IGV) . IGV, thus, was the first major technology ETF to hit new highs after a very turbulent past few months. Before Tuesday, IGV's last all-time high happened way back in November 21 (nearly three years ago), when the ETF hit an intra-day high of $89.76. For some context, while the SPDR Technology ETF (XLK) hit a low on the same day in November 202222, its snapback unfolded much more quickly. XLK hit a new all-time high way back in July 2023 and has kept going.

Persons: IGV's, XLK, IGV, it's, Frank Cappelleri Organizations: Software Sector, Technology, RSI, CNBC, NBC UNIVERSAL

☆ Here's what investors need to know after GM's capital markets day
▼ + stars: | 2024-10-09 | by ( Michael Wayland | ) www.cnbc.com time to read: +8 min

GM's investor day showcased many of the company's current achievements, but did not provide much insight on strategy," Bernstein analyst Daniel Roeska wrote Wednesday in an investor note. "GM's Investor Day yesterday didn't provide much in the way of sharp shifts in strategy. Through the first half of 2024, GM earned $8.3 billion in EBIT-adjusted and generated $6.4 billion in adjusted automotive free cash flow. GM's 2024 financial guidance includes anticipated capital spending of between $10.5 billion and $11.5 billion. GM's operations in China have experienced a decade-long slide in earnings, and executives said they are discussing restructuring options with their China-based partners.

Persons: Rebecca Cook, Mary Barra, Mark Reuss, Stellantis, Bernstein, Daniel Roeska, Dan Levy, John Murphy, Levy, Paul Jacobson, Jacobson, GM's, we're, Barra, Ultium, Kurt Kelty, " Jacobson, Reuss, that's, you'll, Tesla's Organizations: General Motors, Reuters DETROIT —, GM, Ford Motor, Ford, Barclays, BofA Securities, Wall Street, EV tailwinds, North America, LG Energy, ICE, GMC, China Locations: Detroit, Spring Hill , Tennessee, North, Cruise, China

☆ All eyes are on Nvidia milestone into Wednesday's close
▼ + stars: | 2024-10-09 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Nvidia is the stock to watch heading into Wednesday's close. The mega-cap tech stock that is everyone's artificial intelligence barometer is nearing a milestone with its recent rally. At its high for Wednesday's session it reached $134.52. The morning move higher in Nvidia helped to lift the S & P 500 to an intraday record . A record close for Nvidia, along with an S & P 500 record close, could indicate to some that the artificial intelligence trade that's powered the bull market is back on.

Persons: Katie Stockton, She's, Stockton Organizations: Nvidia Locations: Wednesday's

☆ What investors are watching Wednesday: Earnings plays and a catch-up trade in transports
▼ + stars: | 2024-10-09 | by ( Frank Holland | In Frank-Holland | ) www.cnbc.com time to read: +4 min

(This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for PRO subscribers. Worldwide Exchange airs at 5 a.m. Worldwide Exchange Word of the Day: Earnings Stephanie Link of Hightower believes Q3 earnings will be better than LSEG estimates of a 5% increase year over year; seeing potential for an 8-10% increase. "This gives it some room to outperform in the final quarter," Baruch said on Worldwide Exchange. (This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for PRO subscribers.

Persons: Stephanie Link, Hightower, Bill Baruch, Baruch, Wells Fargo Organizations: PRO, Worldwide, Federal Reserve, Atlanta Fed, Blue, Wolfe Research, Dow Transports, Dow Jones Transportation, Citi, Logistics

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