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☆ Here are Friday's biggest analyst calls: Nvidia, Apple, Nike, First Solar, Deere, Alphabet, Amazon, ASML & more
▼ + stars: | 2024-06-28 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Wells Fargo reiterates Nvidia as overweight Wells said it's sticking with its overweight rating on the stock. "We initiate coverage of net lease REIT Essential Properties (EPRT) with a Buy rating and $33.00 12-month price target. Citi reiterates Apple as buy Citi moved the tech giant up a spot to its number 2 top pick. Wells Fargo reiterates Amazon as buy Wells raised its price target on Amazon to $239 per share from $234. "We initiate coverage of Intuitive Machines, Inc. (LUNR) with a Buy rating and a 12-month price target of $8 per share."

Persons: Raymond James, Deere, it's, Morgan Stanley downgrades Nike, Morgan Stanley, Wells, Goldman Sachs, Goldman, Oppenheimer, Riley, Piper Sandler, Piper, managements, it's bullish, Rosenblatt, ASML Organizations: Deutsche Bank, Deutsche, Nvidia, Properties Realty Trust, Apple, Citi, Xerox, JPMorgan, Realty Trust, Inc, Travelers, Susquehanna, Nextracker, BMO, SAP Locations: Americas, China

☆ He dropped out of Princeton and wrestles with imposter syndrome. Inside the unusual rise of a Wall Street tech banker.
▼ + stars: | 2024-06-28 | by ( Emmalyse Brownstein | Bianca Chan | ) www.businessinsider.com time to read: +12 min

Read previewAs a kid, Rob Chisholm was not drawn to the fast-paced, jet-setting life of a Wall Street banker. Well, maybe if I wanted to be an investment banker or something, I would care about that, Chisholm remembers thinking. Chisholm, on the other hand, is very open about his unorthodox path to Wall Street and the resulting feelings of being an outsider. AdvertisementWhen Chisholm was in college, he rejected the "cliche" of going to an Ivy League and getting a job on Wall Street. At the time, Chisholm admitted, Wall Street seemed like the "complete opposite in terms of the culture and the incentives" he thought he wanted.

Persons: —, Rob Chisholm, Chisholm, Goldman Sachs, Frank Quattrone, Eager, dealmakers, he's, Wall, Goldman, I've Organizations: Service, Wall Street, Princeton, Business, Ivy League, Citi, Qatalyst Partners, Middlesex, Princeton's, Middlebury College, ACG Partners, Deutsche Bank, Investment Locations: Canada, Antigonish, Nova Scotia, Massachusetts, Vermont, Boston, San Francisco, tooting

☆ Wall Street kicks off the second half of 2024 with key jobs report in the week ahead
▼ + stars: | 2024-06-28 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

The S & P 500 and Nasdaq Composite are hovering around all-time highs, having rallied roughly 15% and 18%, respectively. The 30-stock Dow and S & P 500 each posted losses, down by 0.1%, each. In recent days, a number of Wall Street firms have hiked their year-end S & P 500 targets to catch up with this year's surprisingly strong rally. On a median basis, strategists expect the S & P 500 will end the year at 5,500, a CNBC Pro survey shows . June jobs report Markets will be closed Thursday for the Fourth of July holiday.

Persons: chipmaker, Craig Johnson, Piper Sandler, Goldman Sachs, Scott Chronert, CNBC's, Chronert, Piper Sandler's Johnson, Bill Merz, Merz, He's, Jamie Meyers, Laffer Tengler, he's, Meyers, Bank's Merz Organizations: Nasdaq, Dow Jones, Nvidia, Microsoft, Deutsche Bank Research, Equity, Dow, Wall Street, Citi, ISI, CNBC, U.S, Bank Wealth Management, PMI, Manufacturing, ADP, PMI Services, Services PMI, Constellation Locations: U.S

☆ Here are Thursday's biggest analyst calls: Nvidia, Apple, Broadcom, Micron, Goldman Sachs, Carvana, Arista & more
▼ + stars: | 2024-06-27 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Goldman Sachs reiterates Micron as buy Goldman said investors should buy the dip in the stock following earnings on Wednesday. Jefferies reiterates Nvidia, Marvell and Broadcom as buy Jefferies said it's sticking with its buy rating on all three companies. " Morgan Stanley initiates Viking Therapeutics as overweight Morgan Stanley said the biotech company has "best-in-class potential." Morgan Stanley adds Goldman Sachs to the financials finest list Morgan Stanley added the investment banking giant to its top financials ideas list. Morgan Stanley reiterates Coca-Cola as overweight Morgan Stanley said it's sticking with its overweight rating on the beverage giant.

Persons: Goldman Sachs, Goldman, Bernstein, Apple, Mizuho, KBW, it's, Jefferies, AVGO, KeyBanc, Texas Consolidator, TD Cowen, Grindr, GRND, Morgan Stanley, JPM, Oppenheimer, Kyndryl, CVNA, Truist Organizations: Micron, Apple, Bank of America, Petrobras, of America, Mizuho, Holdings, Grab Holdings, New York Mellon, Deutsche Bank, Emerson Electric Deutsche Bank, Nvidia, Marvell, Broadcom, Energy, Crescent Energy Co, Citi, Arista Networks, Arista, Viking Therapeutics, Macquarie, TPG, Markets, JPMorgan, Bancorp, UBS, Disney, Cable Locations: MU, Brazil, Texas, North America, CA

☆ Tech rally 'broadening out' to other sectors, Deutsche Bank strategist says
▼ + stars: | 2024-06-27 | 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 EmailTech rally 'broadening out' to other sectors, Deutsche Bank strategist saysMaximilian Uleer, head of European equity & cross asset strategy at Deutsche Bank Research, says the tech stock rally looks set to extend to other sectors.

Persons: Maximilian Uleer Organizations: Email Tech, Deutsche Bank, Deutsche Bank Research

☆ AI tools for Goldman's workforce set to 'land at scale on desks' as soon as next year: partner
▼ + stars: | 2024-06-27 | by ( Reed Alexander | ) www.businessinsider.com time to read: +8 min

For Goldman Sachs' investment bankers, the answer may just be over the horizon. Top Goldman executives told Business Insider that the investment bank is poised to roll out a series of generative AI tools to its workforce as soon as next year. Lee, a Goldman partner, said it could take years for the consequences of this tech on the bank's workflows to be fully understood. But he is overall optimistic about how generative AI, an advanced type of machine learning, will impact its workforce. Many junior bankers spend time on tasks that can sometimes feel "relatively routine," Lee said.

Persons: —, Goldman Sachs, Goldman, George Lee, cohead, Lee, it's, Jamie Dimon, Alison, Tim Ingrassia, Gene Sykes, dealmakers, David Solomon, Ingrassia, Reed Alexander Organizations: Service, Business, Goldman Sachs Global Institute, JPMorgan, Goldman, New York Times, Deutsche Bank

☆ Wall Street strategists see limited gains for the rest of year after big first half
▼ + stars: | 2024-06-26 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

There may not be much upside left this year in the S & P 500, at least according to the paid seers on Wall Street. The S & P 500 is up 15% so far in 2024, while the Nasdaq has added 18%. .SPX YTD mountain S & P 500 In fact, the S & P 500 is anticipated to stall even with a flurry of strategists recently upping their targets. Similarly, Evercore ISI's Julian Emanuel anticipates the S & P 500 could end the year at 6,000 , the highest forecast in CNBC's survey. By year end, Lakos-Bujas anticipates the S & P 500 will fall to 4,200, or a more than 20% plunge.

Persons: Goldman Sachs, David J, Kostin, Evercore ISI's Julian Emanuel, buybacks, Russell, Piper Sandler, Dubravko Lakos, Bujas Organizations: Nasdaq, CNBC PRO, Deutsche Bank, Tech, Microsoft, Dow Jones, Nvidia

☆ The Nvidia spell has been broken. Here’s what could come next
▼ + stars: | 2024-06-26 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

London CNN —Nvidia, Nvidia, Nvidia. Nvidia’s stock bounced back Tuesday, yet investors have been reminded of a potentially bubble-bursting truth: You can fly too close to the sun. For context, it took Warren Buffett about 60 years to build Berkshire Hathaway into a nearly trillion dollar company. But typical volatility can have seismic repercussions when it comes to a stock as all-consuming as Nvidia. Analysts at The Carlyle Group say that while artificial intelligence is revolutionizing the world around us, the Nvidia stock bubble will eventually burst.

Persons: Warren Buffett, Berkshire Hathaway, Microsoft’s, ”, Jim Smigiel, Louis Navellier, Nvidia’s, ” Jochen Stanzl, Emily Bowersock Hill, Jason Thomas, Carlyle’s, ” Neil Roarty, Stocklytics, —, Levi’s, “, LEVI, ” Read, Ryan Callahan, ” Callahan, CDK, Tom McParland Organizations: CNN Business, Bell, London CNN, Nvidia, Berkshire, Deutsche Bank, SEI, Navellier, Associates, CMC, CNN, Bowersock Capital Partners, The Carlyle Group, ’ Association, Mazda, North America, Automatic Consulting Locations: London, Turkey, Istanbul, Seekonk , Massachusetts

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Disney, Gap, Ford, Rivian, Apple, Tesla, Uber, Exxon & more
▼ + stars: | 2024-06-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

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

☆ We like the 'barbell strategy' for both stocks and fixed income: CIO
▼ + stars: | 2024-06-25 | 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 EmailWe like the 'barbell strategy' for both stocks and fixed income: CIOChristian Nolting of Deutsche Bank Private Bank says he likes the barbell strategy when investing, while adding exposure to small-cap stocks. He also prefers investment-grade bonds.

Persons: Christian Organizations: Deutsche Bank Private Bank

☆ Nvidia share price nosedives to wipe $430 billion off company’s value
▼ + stars: | 2024-06-25 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

The US chipmaker’s market capitalization hit $3.34 trillion on June 18 to surpass Microsoft’s but has since shed $430 billion. Now worth $2.91 trillion, Nvidia has fallen into third place globally, behind Microsoft (MSFT) and Apple (AAPL), which have a market cap of $3.33 trillion and $3.19 trillion respectively. The company’s chips power AI systems, including generative AI, the technology behind OpenAI’s ChatGPT that can create text, images and other media. Now investors have started to take profits and they seem to prefer selling stocks with the best year-to-date performance.”Market contagion? Nvidia is a member of the so-called Magnificent Seven, the mega-cap tech companies whose shares greatly outperformed the broader US stock market rally last year.

Persons: ” Jim Reid, OpenAI’s, Nvidia’s, ” Jochen Stanzl, —, ”, Derren Nathan, Hargreaves, isn’t, “ Organizations: London CNN, Nvidia, US, Microsoft, Apple, Deutsche Bank, CMC, CNN, Nasdaq

☆ Fearing Losses, Banks Are Quietly Dumping Real Estate Loans
▼ + stars: | 2024-06-24 | by ( Matthew Goldstein | ) www.nytimes.com time to read: +1 min

Some Wall Street banks, worried that landlords of vacant and struggling office buildings won’t be able to pay off their mortgages, have begun offloading their portfolios of commercial real estate loans hoping to cut their losses. It’s an early but telling sign of the broader distress brewing in the commercial real estate market, which is hurting from the twin punches of high interest rates, which make it harder to refinance loans, and low occupancy rates for office buildings — an outcome of the pandemic. Late last year, an affiliate of Deutsche Bank and another German lender sold the delinquent mortgage on the Argonaut, a 115-year-old office complex in midtown Manhattan, to the family office of the billionaire investor George Soros, according to court filings. Around the same time, Goldman Sachs sold loans it held on a portfolio of troubled office buildings in New York, San Francisco and Boston. And in May, the Canadian lender CIBC completed a sale of $300 million of mortgages on a collection of office buildings around the country.

Persons: It’s, George Soros, Goldman Sachs Organizations: Deutsche Bank, Argonaut, CIBC Locations: Manhattan, New York, San Francisco, Boston

☆ The stock market is having its best election year ever
▼ + stars: | 2024-06-24 | by ( Nicole Goodkind | Matt Egan | ) edition.cnn.com time to read: +9 min

The S&P 500 alone has generated an average return of 7% during presidential election years since 1952, according to LPL Financial. If you limit that to election years in which the incumbent president is running for reelection, the average jumps to 12.2%. Yes, but: Market volatility in an election year tends to pick up in October and there are many months left in this cycle with potential surprises to come. “An autumn pullback fits well time wise with potential downside earnings revisions, make-or-break decision time for the Fed, and election uncertainty. The first round of the French election will be held on June 30, with a second round on July 7.

Persons: Goldman Sachs —, Ed Clissold, Ned Davis, they’re, It’s, Goldman Sachs ’ Scott Rubner, “, ”, Mark Hackett, Scott Chronert, Goldman Sachs, Joe Biden, Donald Trump, Jim Reid, There’s, Emmanuel Macron, Katie Nixon, Chris Isidore ., they’ve, Samantha Murphy Kelly, ChatGPT —, Siri —, OpenAI, Siri, ChatGPT, hasn’t, — Organizations: London CNN — Traders, Investors, White, Ned, Ned Davis Research, Nasdaq, Citigroup, Goldman, Barclays, Deutsche Bank, UBS, Deutsche, Fed, United, Labour Party, Renaissance, Northern Trust Wealth Management, Alaska Airlines, Alaska —, Southwest —, Southwest, Railway Labor, Apple, Apple Intelligence, Microsoft, Google, Meta, Samsung, Cyberspace Administration, Wall, IDC Locations: United States, France, “, Alaska, China

☆ In Germany, a Tournament Runs Smoothly, but the Trains Do Not
▼ + stars: | 2024-06-23 | by ( Rory Smith | Melissa Eddy | ) www.nytimes.com time to read: +1 min

Niclas Füllkrug arrived early at the Adidas campus just outside Herzogenaurach, a picture-postcard town in Bavaria that was to host the German national team before this summer’s European soccer championships. The staff had been told that players would start arriving on a Monday morning, a few days before their opening game. He had decided to make the 300-mile journey from his home in Hanover by high-speed train on Germany’s national railway carrier, Deutsche Bahn. But years of failure to invest in rolling stock, upgrade railways and digitalize signal boxes have made Deutsche Bahn notorious for delays and cancellations. He spent the journey fielding their questions about life with the national team.

Persons: Niclas Füllkrug, —, Füllkrug Organizations: Adidas, German, Deutsche Bahn Locations: Bavaria, European, Hanover

☆ Americans' spending patterns are flashing a warning of a possible consumer-led recession
▼ + stars: | 2024-06-22 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Read previewAmerica's stimulus-fueled shopping spree looks just about over — and lower spending could be a signal that a consumer-led downturn is on the horizon, economic experts say. Retail spending ticked 0.1% higher in May, but sales volume has dropped 1.3% year-over-year over the last three months, US Census data shows. That adds to a 4% decline in retail sales in the first quarter — and it's a strong sign the long-awaited consumer recession is on the horizon, economist David Rosenberg said recently. "Early signs of a consumer recession finally coming to the fore." AdvertisementThe US has 52% chance of slipping into recession by May of next year, according to projections from the New York Fed.

Persons: —, David Rosenberg, Stephanie Pomboy, Ian Shepherdson Organizations: Service, Business, McKinsey, Deutsche Bank, Consumer, Federal Reserve, New York Fed, Pantheon Macroeconomics

☆ Interest rate differential is the biggest driver of Asian currency weakness: Deutsche Bank
▼ + stars: | 2024-06-21 | 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 EmailInterest rate differential is the biggest driver of Asian currency weakness: Deutsche BankSameer Goel of Deutsche Bank says that "dollar exceptionalism" and interest rate differentials are behind the devaluation of Asian currencies.

Persons: Bank Sameer Goel Organizations: Bank, Deutsche Bank

☆ Nvidia tops the individual stock market values of Germany, France and the UK
▼ + stars: | 2024-06-20 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Nvidia 's furious rally to become the king of the megacap stocks has also put it above the entire stock market value of some of the world's largest economies. On Tuesday, Nvidia surpassed $3.3 trillion in market capitalization, moving it ahead of Microsoft as the biggest stock in the U.S. But its market cap had already raced ahead of the cumulative value for entire stock markets in Germany, France and the United Kingdom, measured individually and in U.S. dollars. Only India, Japan, China and the U.S. have stock markets bigger than Nvidia alone, according to Deutsche Bank. The rally has also fueled concerns about the concentration of the U.S. stock market in just a few technology names.

Persons: Warren Buffett's Berkshire Hathaway Organizations: Nvidia, Microsoft, Deutsche Bank, U.S, Apple Locations: U.S, Germany, France, United Kingdom, India, Japan, China, OpenAI

☆ Klarna rival Zilch raises $125 million with aim to triple sales and accelerate path to IPO
▼ + stars: | 2024-06-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Zilch initially sourced credit for its installment plans and other loans from Goldman Sachs 's private credit arm. The additional $190 million of credit will become available to Zilch as the firm continues to grow. Once Zilch has reaches the $315 million maximum funding threshold, it expects to generate nearly $10 billion of GMV by 2026. The firm reported revenues of £30 million ($38 million) in the 12 months ended March 2023. Zilch also has an advertising sales network where it provides placements for retailers to promote their wares to consumers.

Persons: Phil Belamant, Zilch, it's, Goldman Sachs, Philip Belamant, we've, Goldman, Belamant Organizations: LONDON, Deutsche Bank, Goldman, CNBC, Apple, Citi

☆ Oil prices on pace for best week in more than two months as forecasts point to tighter market
▼ + stars: | 2024-06-14 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Oil prices are up more than 4.5% for the week, the strongest gains since early April, when futures rose on boiling geopolitical tensions in the Middle East. Crude oil futures rose for a fifth day Friday, on pace for the best week in more than two months as analysts see a tighter market heading into the third quarter. Deutsche sees the oil supply deficit expanding to nearly 1 million barrels per day in the third quarter, which should support Brent prices rising to the mid-to-upper $80s per barrel range. "It would only take a minor overshoot to bring Brent to around USD 90/bbl at some point during the second half," Hsueh told clients. Citigroup also sees a tighter market in the third quarter, though the market will likely enter a surplus in 2025 on solid production growth and slowing demand, according to the bank.

Persons: Benny Gantz's, Helima Croft, Michael Hsueh, Brent, Hsueh Organizations: RBC Capital Markets, RBC, OPEC, Deutsche Bank, Deutsche, bbl, Citigroup Locations: Israel, Lebanon

☆ Treasury yields slide once again as traders weigh this week's U.S. inflation data
▼ + stars: | 2024-06-14 | by ( Katrina Bishop | ) www.cnbc.com time to read: +2 min

Yields and prices move in opposite directions and one basis point is equivalent to 0.01%. The 10-year Treasury yield was trading around 4.211% at 6:29 a.m. The 2-year Treasury note yield was down 1 basis point at 4.679%. U.S. Treasury yields fell again on Friday as data released this week pointed to easing inflation. Correction: A previous version misstated the magnitude of a decline in the 10-year Treasury note yield.

Persons: Henry Allen, — Jeff Cox Organizations: U.S, Treasury, Rabobank, Deutsche Bank, U.S . Federal, US, University of Michigan

☆ Here are Thursday's biggest analyst calls: Nvidia, Netflix, Broadcom, Dell, Meta, Roblox, Tesla, Boeing, Microsoft & more
▼ + stars: | 2024-06-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Bank of America reiterates Broadcom as buy Following Broadcom's earnings report, Bank of America said the company has "potential to join the trillionaires club." Morgan Stanley downgrades Corning to equal weight from overweight Morgan Stanley downgraded Corning mainly on valuation. Bank of America reiterates Dell as buy Bank of America said it sees several positive catalysts ahead for Dell. Morgan Stanley reiterates Amazon, Alphabet, Meta, Microsoft and Adobe as overweight Morgan Stanley named several tech stocks that it said are well positioned for AI. " Morgan Stanley reiterates Colgate-Palmolive as a top pick Morgan Stanley said it sees a "pet inflection on the horizon" for Colgate.

Persons: it's, Oppenheimer, Ulta, Jefferies, OpenAI, Bernstein, Goldman Sachs, Goldman, Morgan Stanley, Goodyear, Wolfe, Bill Brown, Morgan Stanley downgrades Corning, TD Cowen, Cowen, KeyBanc, Dell, Clark, Wells, Fortnite, Stephens, Wedbush, Tesla, Elon Musk Organizations: Deutsche Bank, Nike, Bank of America, Broadcom, Citi, Royal, TEAM, Microsoft, OpenAI, Nvidia, Starbucks, Goodyear Tire, Civitas Resources, Netflix, Media Survey, Dell, " Bank of America, underperform Bank of America, Adobe, Colgate, Palmolive, Technology, Barclays, NextEra Energy Partners, NextEra Energy, Boeing, of America Locations: Royal Caribbean, Corning, Texas

☆ Jim Cramer says it's still too early to buy Nike — but he likes these 3 stocks
▼ + stars: | 2024-06-13 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +1 min

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Shares added more than 2%. "I like the stock very much," Jim Cramer said, acknowledging that CEO Michael Hsu has needed to implement needed to cut costs as part of a business reorganization. Nike : Shares added 0.4% after analysts at Deutsche Bank resumed coverage of the athletic footwear and apparel maker with a buy rating. "I would be very careful" with Nike's stock, Cramer said.

Persons: Jim Cramer's, Jim Cramer, Michael Hsu, Cramer, Dave, Joey Chestnut, Takeru Kobayashi Organizations: CNBC, Club, Clark : Bank of America, CNBC Investing Club, Procter, Gamble, Nike, Deutsche Bank, Netflix, Cola, Citigroup

☆ OPEC calls for more fossil fuel investment to prevent shortfall, dismisses peak oil demand prediction
▼ + stars: | 2024-06-13 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

The head of OPEC said Thursday the world will need to invest in fossil fuels for decades to come in order to prevent an energy shortage, dismissing predictions that oil demand will peak in the near future. The OPEC chief called for "continued oil industry investment, today, tomorrow, and many decades into the future given the products derived from crude oil are essential for our daily lives." Oil supply capacity will rise to 114 million per day by 2030, 8 million barrels more than global demand, according to the IEA. Deutsche Bank and Citi, however, see OPEC coming under pressure in the coming years. Citi analysts see a substantial oil surplus in 2025 as production keeps growing in North America, Brazil and Guyana, while demand slows due to energy efficiency improvements and electric vehicle adoption.

Persons: Haitham Al Ghais, Al Ghais, Fatih Birol, OPEC's Al Ghais, Helima, Croft, I'm, Robert McNally, McNally, EVs, Michael Hsueh Organizations: OPEC, International Energy Agency, IEA, IEA ., RBC Capital Markets, Rapidan Energy, Deutsche Bank, Citi, Brent Locations: China, India, North America, Europe, Northeast Asia, Asia, U.S, OPEC, Brazil, Guyana

☆ Oil prices could drop to $60 per barrel in 2025 as world faces 'substantial surplus,' Citi says
▼ + stars: | 2024-06-13 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

OPEC+ members recently announced plans to bring 2.5 million bpd back to the market from October through September 2025. If the group follows through with its announced plan, the oil market will see a surplus of 2.6 million bpd or more. Deutsche Bank analyst Michael Hsueh said the OPEC+ production plan will cast a bearish shadow over the next two years . It is "inconceivable that the market could absorb anything close" to 2.5 million bpd, Hsueh said. The International Energy Agency warned Wednesday the world will be awash in oil by 2030, with production capacity outpacing demand projections by eight million bpd.

Persons: Brent, Michael Hsueh, Hsueh, Fatih Birol Organizations: Citi, Brent, Deutsche Bank, United Arab Emirates, TD Securities, International Energy Agency Locations: OPEC, North America, Brazil, Guyana, U.S

☆ Luxury developer Michael Shvo has big plans. Bitter disputes and a soft real estate market threaten to thwart them.
▼ + stars: | 2024-06-13 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +15 min

Amid the whirlwind of activity, the 51-year old, Israel-born executive has presented himself as a real estate visionary with a personal preference for all-black attire and a taste for luxury brands. BVK recently hired the residential brokerage firm Corcoran Group to complete a market study of the Fifth Avenue project, a person who viewed the report said. Miller noted he did not have direct knowledge of the situation at 685 Fifth Avenue. At 685 Fifth Avenue, he recently marked down prices for some of the units. In contrast, the Shore Club, which is being built by the New York real estate developer Steve Witkoff just a few hundred yards away from the Raleigh has pre-sold briskly.

Persons: —, Michael Shvo, Shvo, Peter Marino, Norman Foster, Renzo Piano, BVK, Corcoran, Jonathan Miller, Miller Samuel, Miller, Pam Liebman, Corcoran's, Truist, Michael Lirtzman, Akuna, Lirtzman, I've, Scott Wadler, Wadler, Jed Jacobsohn, John Goodman, Diane, –, Goodman, profanely, Serdar, Shvo's, Bilgili, Deutsche Finance didn't, Alex Miranda, I'm, Steve Witkoff, Morgan Chase Organizations: Service, Bayerische, Deutsche Finance, Business, GFI, Group, Shvo, Wabash, Akuna, Colliers, Wabash –, Raleigh, Core, New York State, Noë, Associates, West, Bilgili, BVK, Shore Club, New Locations: New York, Manhattan's Plaza, Los Angeles, Miami Beach, Raleigh, Israel, Wilshire, LA, Manhattan, Chicago, Miami, Paris, South Florida, San Francisco, Manhattan's, Turkish, BVK, Wabash, Shvo, Munich

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