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New York CNN —With interest rate cuts on the backburner, Wall Street is looking to corporate earnings to continue powering the 2024 stock market rally. Analysts polled by FactSet expect second-quarter earnings of S&P 500 companies to grow about 8.7% on average from the prior year. Strong corporate earnings have helped the S&P 500 gain a whopping 16% and notch repeated record high closes this year. Since the Fed isn’t likely to cut rates anytime soon, the onus is on strong corporate earnings to continue driving the market rally. Earnings season kicks off July 12 when big banks including JPMorgan Chase, Wells Fargo and Citigroup report results.
Persons: FactSet, Jerome Powell, , Jeffrey Buchbinder, Wells, Dow, Lisa Shalett, Jessie Yeung, Hanako Montgomery, Junko Ogura, , Tadashi Matsubara, ” Read, Laura He, Pan Gongsheng, Read Organizations: CNN Business, Bell, New York CNN, Federal, LPL, JPMorgan Chase, Citigroup, Nvidia, Microsoft, Meta, Dow Jones, Morgan Stanley Wealth Management, Kanpou, , Beijing Money, Silicon Valley Bank, People’s Bank of China, prudential Locations: New York, Sintra , Portugal, Wells Fargo, Banks, Japan, Nepal, China, Beijing, Silicon, United States, Shanghai
Some key inflation readings in the week ahead could bolster the case for a September interest rate cut, as investors deliberate how long stocks can sustain their rally to record highs. After a rocky start to the year, a recently improving inflation picture has investors hopeful the Federal Reserve could soon start to lower rates. Stubborn inflation patches The June consumer price index is expected to show a slight improvement in the headline number. In May, for example, shelter inflation rose 0.4% on the month and 5.4% on the year, while other key items declined. Monday, July 8 3 p.m. Consumer Credit (May) Tuesday, July 9 6 a.m. NFIB Small Business Index (June) Wednesday, July 10 10 a.m. Wholesale Inventories final (May) Thursday, July 11 8:30 a.m. Consumer Price Index (June) 8:30 a.m.
Persons: nonfarm payrolls, Mark Malek, FactSet, there's, Ross Mayfield, Baird, Mayfield, David Kelly, CNBC's, Wells, Price, JPMorgan Chase Organizations: Reserve, Dow Jones, Nasdaq, CPI, PPI, FactSet, University of Michigan, Asset Management, Citigroup, JPMorgan Chase, PepsiCo, Delta Air Lines, Consumer Credit, Treasury Budget, Air Lines, Conagra, JPMorgan, Bank of New York Mellon Locations: U.S, Wells Fargo, Michigan, Fastenal
I think I would've been better off in a cheap hotel room, which likely would've had a better bed and no kitchen area, which I didn't need. Using Google Maps to locate bus stopsThis sneaky bus stop was in an underground pass beneath a building. I would walk to the exact spot where Google Maps said the bus stop was and see no signs or benches. I'd wander around looking for the bus stop while watching several buses drive past me without stopping. AdvertisementEach time, I had to ask a local or two where the bus stop was.
Persons: , Moritz, Morgan McFall, Johnsen, I'd, would've, Airbnb Organizations: Service, Business, Google, SBB Locations: Switzerland, Zurich, Swiss, Europe, Sion, France, St, Johnsen Switzerland
The bull case for small caps as the second half kicks off
  + stars: | 2024-07-04 | by ( Sarah Min | ) www.cnbc.com   time to read: +6 min
By contrast, the S & P 500 has already reached Jefferies' bull case of 5,400, the strategist noted. The right catalyst For investors, the bull case for small caps that prevailed when the year began, still holds. More immediately, second-quarter earnings may prove a positive catalyst for small caps since expectations are so low, according to Jefferies' DeSanctis. On a trailing 12-month basis, the S & P 500 is trading at a multiple of 25 times earnings. Ultimately, however, many investors say that a rotation into small caps is coming, even if it hasn't happened yet.
Persons: Russell, Richard Nixon, Steven DeSanctis, Jefferies, DeSanctis, Brian Leonard, Ross Mayfield, Baird, Keeley Teton's Leonard, Something's Organizations: Federal Reserve, Jefferies, CNBC Pro, Fed, Advisors Locations: Keeley
Extra-long sheets. The wall hooks and putty that hold things up but don’t leave marks. Most colleges provide a list of things that new students might bring if they’re living on campus, and most big-box stores stock all of it and then some. But there’s another list you may want to consider, containing things that aren’t at the end of any Target aisle or on anyone’s Amazon wish list. And how about some midnight pizza facilitation?
In a year when the S & P 500 is touting a 15.5% advance, small-cap stocks look underwhelming – but investors shouldn't shy away from them, said Julie Biel, chief market strategist at Kayne Anderson Rudnick. "I don't think you want to avoid them — they're part of a balanced diet," said Biel, who is also a portfolio manager at the firm. The benchmark small-cap index Russell 2000 is up roughly 1% year to date, whereas the S & P 500 has rallied almost 16%, largely thanks to the strength of Nvidia and other megacap tech stocks. The S & P 400 mid-cap index has also fallen short of its large-cap counterpart, up a modest 5% in 2024. Biel herself manages a small- and mid-cap growth portfolio and takes a long-term investment approach.
Persons: Julie Biel, Kayne Anderson, Biel, Russell, Ryan Organizations: Nvidia, Russell, Isaac, Ryan Specialty, IFS, West Pharmaceutical Services Locations: Biel
When I was a kid, I remember watching a TV documentary about North Korea. I tried to find more information, so I subscribed to a group called "Solidarity with North Korea" on VKontakte — Russia's equivalent to Facebook. AdvertisementIn it, the Communist Party of the Russian Federation offered a chance to go to a North Korean children's summer camp for about $300. AdvertisementHowever, the North Korean children in the camp were quite segregated from us, and we only met them once on our last day. I can easily make friends just by talking about my experiences — people just want to hear about North Korea.
Persons: , Yuri Frolov, Yuri Frolov's, Kim Il, Kim Il Sung, Kim Jong Il Organizations: Service, Korea's, Business, Facebook, Communist Party of, Russian Federation, Communist Party, North Locations: North Korea, Korean, St . Petersburg, Vladivostok, Russia, Pyongyang, Pueblo, Songdowon, Laos, Nigeria, Tanzania, China, North
New York CNN —If you’ve got money in the market, you might own a little piece of Trump Media — without even knowing it. Trump Media (DJT), the owner of conservative social media platform Truth Social, announced its addition to the Russell family on Monday. As a result, countless retail investors will now own a piece of Trump Media. These include the $14 billion iShares Russell 3000 ETF (IWV) and the $2.5 billion Vanguard Russell 3000 ETF (VTHR). LinkedIn co-founder Reid Hoffman, a vocal critic of former President Donald Trump, believes Trump Media is really worth just $40 million.
Persons: you’ve, Russell, Donald Trump, doesn’t, Vanguard Russell, , Sam Stovall, Stovall, ” Stovall, Reid Hoffman, ” Hoffman, Aniket Ullal Organizations: New, New York CNN, Trump Media, Trump Media & Technology, Vanguard, CFRA Research, Microsoft, Nvidia, Apple, Trump, , FTSE Russell’s, P, LinkedIn, CNN, & & Locations: New York
Marcus' yield hike places it in an exclusive group of financial institutions continuing to offer rates in the 5% range on deposits. Citizens Access and Capital One Financial each offer a 1-year CD that yields 5%, while Sallie Mae offers a 5.15% APY. Bread Financial is at the top of the heap, with an APY of 5.25% on a 1-year CD. Indeed, LendingClub recently slashed its 1-year CD APY to 4.2%, reflecting a cut of 95 basis points, Caintic found. For instance, investors may forfeit some interest if they "break" their CD ahead of maturity, which makes these funds less liquid compared to money market funds.
Persons: Marcus, Goldman Sachs, BTIG, Sallie Mae, Vincent Caintic, LendingClub, Caintic Organizations: Reserve, BTIG Locations: LendingClub
Welcome to the Little Britain Inn, a corner of Germany that shall remain forever England. Because that’s the thing about the Little Britain Inn. In fact, the reason the Little Britain Inn exists is because of a cross-cultural argument. The Little Britain Inn also rates 4.8 out of 5 on Google. Some of our best guests have been here eight or 10 times – it’s like they’re our friends.”Today, the Little Britain Inn is going from strength to strength.
Persons: , Jack, that’s, there’s, Queen Elizabeth, Prince William, , Blinders, Julia Buckley, Robin Hood, James Bond, Queen Elizabeth II, . Bean, Jack Sparrow, Alice, Wonderland, the, William, Meghan, Harry, Charles, Camilla, Princess Diana, Brexit Gary Blackburn, Gary Blackburn, Blackburn, Monika, who’s, it’s, who’d, he's, Unkel –, Who, they’d, Union Jack –, England, , Bean, Agatha Christie, Harry Potter, – Blackburn, traipse, King Charles, Emma Bridgewater, King Charlie's, John Deere, Emily, Alyson, wouldn’t, They’re, Diana, Gary’s Organizations: Germany CNN, England, lifesize Paddington Bears, Paddington Bears, CNN, Paddington Bear, Brit, European Union, EU, Blackburn, Little, Linz –, Royce, Union, Google, YouTube, Regulars Locations: Vettelschloss, Germany, Rheinland, Pfalz, Rhineland, Palatinate, Bonn, West Germany, Cologne, Little Britain, Trafalgar, Little, England, British, German, Poland, Unkel, Linz, London, Blackburn, Guildford, Charles, Cornwall, Birkenstock, Argentina
Mexico needed to beat Ecuador in their final Group B match to advance to the Copa America knockout stage, but all they could manage was a 0-0 draw. AdvertisementMexico managed to score just one goal in 270 minutes across group play in a dismal tournament for the 2026 World Cup co-hosts. GO DEEPER Mexico vs Ecuador threatened with stoppage over homophobic chantingAnd Ecuador’s prize for holding off Mexico? Stuart James and Thom Harris assess the key talking points…Will Argentina be worried by what they saw in this match? In between times, Gimenez never stopped running the channels, seeking out the long balls that Mexico hoped would bring some joy.
Persons: Stuart James, Thom Harris, Argentina, Alan Franco, Piero Hincapie’s, Enner Valencia, Alexander Dominguez, Steph Chambers, Santi Gimenez’s, Santiago Gimenez, Gimenez, Henry Martin, Raul Jimenez, Gerardo Arteaga, Orbelin Pineda, Jaime Lozano, Johan Vasquez, Chris Coduto, What’s, Felix Sanchez, Lionel Scaloni, , We’ve, Chris Cuduto Organizations: Copa, Argentina, Bayer Leverkusen, Copa America, Feyenoord, Jamaica, CONMEBOL, Getty Locations: Mexico, Ecuador, Copa America, Spanish, Houston, Argentina, Venezuela, Los Angeles, Europe, AFP, Houston , TX, ” Mexico
Related storiesThough Remi recruited people she knew, shadow stand-ins are often sourced from a complex online web of faceless providers. Facebook Groups are a popular forum for recruiting shadow stand-ins, providing a two-sided marketplace where workers and providers can connect to one another. The dustup highlighted a key drawback to shadow stand-ins: While alluring, things can go horribly wrong. "It required a lot of micromanaging," said a backend engineer in Pennsylvania who hired shadow stand-ins to help him juggle multiple jobs. Pay rates for shadow stand-ins are "definitely more than what people earn in their regular payday, that's for sure," he said.
Persons: Remi, Zer, couldn't, — Remi, Walter Keane, Margaret, Tim Ferriss, Raj Kumar, isn't, Kevin, Andrew, it's, Lorenzo Matteucci, Brandon Nowak, , Amber Clayton, Tim Woodruff, Woodruff, they're, Ranjan, Kiran, Rahul, Peter Steele, Michel Anteby, doesn't Organizations: Business, Labor, Verizon, Southwestern, Facebook, Amazon Web Services, BI, Companies, Corporations, Society for Human Resource Management, Secret Service, Department of, Treasury, FBI, LinkedIn, Boston University Locations: Chicago, India, Pakistan, China, Southwestern US, Atlanta, San Jose , California, Bengaluru, American Java, Southeast Asia, United States, Colorado, Southern California, Pennsylvania, Washington, Indian, Michigan, Oregon, England
Read previewHaize Labs, an AI safety startup, is raising an early-stage round that investors are clamoring to invest in, Business Insider has learned. However, for hot startups, there can be more investor demand than a startup can accommodate, as with Haize Labs' round. One source indicated that Haize Labs received term sheets with valuations ranging from $30 million to over $100 million. Haize Labs is building automated red-teaming and stress-testing algorithms to identify risks in AI models and agents. AI safety has increasingly become a concern, especially as AI usage increases among both consumers and enterprises.
Persons: , Leonard Tang, VentureBeat, OpenAI, Sama, Steve Li, Richard Liu, Tang Organizations: Service, Business, Haize, Haize Labs, Soma, Google, Netflix, Harvard, Carnegie Mellon, Washington Post
RBC Brewin Dolphin: Overweight in U.S. stocks and tech
  + stars: | 2024-06-28 | 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 EmailRBC Brewin Dolphin: Overweight in U.S. stocks and techJanet Mui, head of market analysis at RBC Brewin Dolphin, says investors will still prefer to hold mega-cap tech and other stocks with strong balance sheets as U.S. economic data starts to slow.
Persons: Janet Mui Organizations: RBC
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed and ECB look set to cut rates in September, Morgan Stanley strategist saysAndrew Sheets, managing director and head of cross-asset strategy at Morgan Stanley, says recent data suggests that the Fed and ECB could be prepared to cut rates soon.
Persons: Morgan Stanley, Andrew Sheets Organizations: Fed, ECB
Investors should look for companies in the third quarter that are on solid ground, both in their fundamental business and their stock price, according to Piper Sandler. The firm's yardsticks for quality fundamentals include free cash flow yield and positive earnings revisions. Piper Sandler's macro select model includes some of the big tech companies that have outperformed in recent years, in part due to their combination of solid balance sheets and strong growth. Two other stocks on the list with momentum are Chipotle Mexican Grill and Wingstop , up roughly 37% and 66%, respectively, in 2024. The company said in its first-quarter report that cash was up and debt was down compared with the same period a year ago.
Persons: Piper Sandler, Michael Kantrowitz Organizations: Nvidia, Microsoft, Google, Netflix, AMC Networks, Academy Sports Locations: Mexican
U.S. Federal Reserve Chair Jerome Powell delivers remarks during a press conference following the announcement that the Federal Reserve left interest rates unchanged, in Washington, U.S., June 12, 2024. The U.S. Federal Reserve and European Central Bank could move to cut interest rates in September as key data provides further signs that inflation is cooling in the U.S. and the euro zone, a Morgan Stanley strategist said Friday. "We're more optimistic that both the Fed and ECB will cut rates in September," he told "Squawk Box Europe." And I think, for the Fed, inflation is continuing to fall," he added. A majority of economists polled by Reuters now anticipate the Fed will cut interest rates from its current range of 5.25% to 5.50% this September, with a further trim projected later in the year.
Persons: Jerome Powell, Morgan Stanley, Andrew Sheets, Sheets Organizations: Federal, Federal Reserve, U.S . Federal Reserve, European Central Bank, CNBC, Fed, ECB, Reuters Locations: Washington , U.S, U.S, Europe
Pillows should be washed oftenYou're used to washing your sheets and pillowcases weekly, but you may be forgetting about the pillows themselves. Pillowcases will protect them to some extent, but you should really be laundering your pillows every six months or so. If you're springing for high-quality feather pillows you can keep them for decades, provided you're cleaning and fluffing them regularly. Here's the real deal: once any aspect of your bedding starts to feel less than dreamily comfortable, it's probably time to replace it. Once you've decided to replace your sheets or pillows, get the old ones out of the house.
Persons: I'm, Pillowcases, , it's, you've, they're, we're, they've Organizations: Service, Business, Gallup
Persistent weakness in the yen is raising concerns about the potential for a resurgence in cost-push inflation, likely weighing on private consumption. Bloomberg | Bloomberg | Getty ImagesThe Japanese yen hit a near-38 year low against the U.S. dollar late Wednesday, raising expectations that authorities could intervene in currency markets again. Stock Chart Icon Stock chart iconThe last time the yen crossed the 160 level, the currency subsequently strengthened sharply during the trading session, prompting analysts to speculate about an intervention. Japan's Ministry of Finance later confirmed the intervention in May, saying that it had spent 9.7885 trillion yen ($62.25 billion) on currency intervention between April 26 and May 29, according to a Google-translated statement. That was the first time that the Japanese government has undertaken such a market measure since October 2022, according to ministry records.
Organizations: National Printing Bureau, Bloomberg, Getty, U.S ., Japan's Ministry of Finance Locations: National Printing Bureau Tokyo, Tokyo, Japan
Thursday night’s Copa América contest between the U.S. men’s national team and Panama was not lacking for drama. The result puts the U.S.’s Copa América on life support as they prepare to close out the group against Uruguay on Monday in Kansas City. 12′: USMNT goalkeeper Matt Turner knocked to the ground after challenge from Cesar Blackman. Weah will now miss the group finale against Uruguay, and winger is one of the thinnest positions for the USMNT. If he is now to miss the crucial Group C game against Uruguay it will be a major headache for Berhalter.
Persons: Jose Fajardo, Weston McKennie, Tim Ream, Matt Turner, Cesar Blackman, Tim Weah, Roderick Miller ., Blackman, Turner, Ethan Horvath, Gregg Berhalter, Cameron Carter, Vickers lunge, Adalberto Carrasquilla, Christian, Tim Weah’s, Weah, Panama’s Roderick Miller, ” Berhalter, , Ivan Barton, Eduardo Munoz, Berhalter, Vickers, Gio Reyna, Johnny Cardoso, Tyler Adams, Paul Tenorio Balogun’s, Folarin Balogun, bui, aga, tim, Ric, er Wh, e, onl y Organizations: Copa América, U.S, men’s, CONCACAF, Panama, Uruguay, Lille, Getty Images, AS Monaco, Bolivia, pla Locations: Panama, Kansas City, U.S, Jos
“The financial impact it will directly have on us will take months to correct, if not years,” Callahan said. Tom McParland, the owner of Automatic Consulting, a national car buying service, said the outage was impacting customers because they have fewer dealers to choose from. “It limits the customer’s leverage.”Some dealers also can’t apply factory rebates without CDK’s software, so customers may miss out on money-saving deals. Under normal circumstances, the CDK software allows the dealership to register a vehicle almost instantaneously, but now the process faces heavy delays. He told CNN he was able to buy the car but was unable to sign the title.
Persons: Ryan Callahan, ” Callahan, CDK, Tom McParland, , McParland, Michael Deveney, , ” Deveney, Katelyn Salvato, hasn’t, Salvato, , We’ve, they’ve, Scott Campbell, Nicolas, CNN they’ve, Don Aycock, Robbie Jacob, Jacob, Tekion Organizations: New, New York CNN, Mazda, North America, Automatic Consulting, Midway Automotive, Massachusetts, of Motor Vehicles, Pride Motor Group, , DMV, CNN, Massachusetts Department of Transportation, Capital City Buick GMC, Porsche, Buick, Diego —, Kia, Cox Automotive Locations: New York, Seekonk , Massachusetts, Lynn, Berlin , Vermont, Los Angeles, , Clay County , Florida, Diego
Here are Tuesday's biggest calls on Wall Street: Bank of America reiterates Nvidia as buy The firm named Nvidia to its best-of-breed list. Goldman Sachs reiterates Microsoft as buy Goldman said it's sticking with its buy rating on the stock. "We reiterate our Buy rating ($515 Price Target) on Microsoft as we see the company yielding strong returns on its Gen-AI investments." "We are initiating on Carpenter Technology (CRS) with a Buy rating and $144 target price (47% upside potential)." "We are initiating coverage on Rivian Automotive, Inc. (RIVN) with a BUY rating and $18 PT."
Persons: BoB, Goldman Sachs, Goldman, it's, TD Cowen, Zeta, Raymond James downgrades Penn, Raymond James, Wells, Tapestry's, Tesla, Piper Sandler, Uber, Piper, AMZN, Morgan Stanley, Ford, Evercore, Truist, Guggenheim, Rivian, Robinson, CHRW, Maxim, MicroStrategy Organizations: Bank of America, Nvidia, Disney, Microsoft, Technology, RBC, Zeta Global, PENN, UBS, Exxon, Deutsche Bank, Carpenter Technology, Tesla, Ford, TAP, Ball Corp, Rivian Automotive, Inc, Apple Locations: Capri, HNST
CNN —Hungary captain Dominik Szoboszlai has called for a change to medical protocols after the team’s striker, Barnabás Varga, sustained a serious injury during its match against Scotland on Sunday at Euro 2024. The 29-year-old’s teammates could be seen signaling for medical attention to be brought onto the pitch to help Varga. Cameras showed Szoboszlai seemingly in tears after the incident and appeared to be concerned at the speed at which the stretcher was being carried onto the pitch to help Varga. “It looked bad, it was bad, he felt bad,” Szoboszlai told reporters as he reflected on Varga’s injury. But seconds can help a lot.”Kevin Csoboth holds up the shirt with Varga's name on it after scoring for Hungary against Scotland.
Persons: Dominik Szoboszlai, Barnabás Varga, Varga, Angus Gunn, Kevin Csoboth, ” Szoboszlai, , “ It’s, don’t, Marijan Murat, , ” Csoboth, Marco Rossi, Organizations: CNN —, Scotland, Stuttgart, Hungarian FA, Hungary, CNN, UEFA, European, Locations: Scotland, Hungary, ” Hungary
However, Niclas Füllkrug equalized late on to rescue a point for the host nation and see it top the group. The draw means that Germany finishes on seven points after its three games in Group A, two points ahead of Switzerland. Elsewhere, Hungary scored a dramatic 100th-minute winner against Scotland to get its first win of the tournament and boost its qualification hopes. Germany piled on the pressure as the second half went continued, with Kai Havertz hitting the bar. The second half followed much the same pattern until the injury suffered by Varga halted the game.
Persons: Dan Ndoye, Remo Freuler, Niclas Füllkrug, Barnábas Varga, Angus Gunn, Varga, Damien Meyer, Dominik Szoboszlai, Robert Andrich, Jamal Musiala, Daniele Orsato, Ndoye, Jonathan Tah, Angelos Tzortzinis, Murat Yakin’s, Julian Nagelsmann, Yann Sommer, Kai Havertz, Willi Orbán’s, Kevin Csoboth, Lee Smith Organizations: CNN, Switzerland, C, B, Scotland, Getty, Stuttgart, Hungarian, Germany, Frankfurt, Hungary Locations: Germany, Frankfurt, Switzerland, England, Denmark, Slovenia, Serbia, Italy, Albania, Croatia, Hungary, Scotland, Stuttgart, AFP
Prolonged exposure to or physical exertion in excessive heat can cause heatstroke, according to the Mayo Clinic. Starting Tuesday, cooling centers — indoor, air-conditioned spaces for public use — will be open during the day in New York. At night, because heat can disrupt sleep, 60 to 67 degrees is recommended by the Cleveland Clinic. A technician will typically check for and diagnose issues with the system, clean it and change out the filter. New York Times Cooking has a list of “No-Cook Recipes for a Heat Wave” so you can prep a meal without turning on your stove top.
Persons: you’re, Patrick Junker, Wirecutter, Steer Organizations: Chicago, Mayo Clinic, Cleveland Clinic, American Kennel Club, The New York Times, York Times Locations: New York, Dallas, New York City, Ronda Kaysen
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