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☆ CNBC Daily Open: Apple shares pop, Musk drops OpenAI lawsuit
▼ + stars: | 2024-06-12 | by ( Abid Ali | ) www.cnbc.com time to read: +4 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Musk drops OpenAI suit Elon Musk dropped his lawsuit against OpenAI, CEO Sam Altman and President Greg Brockman, which alleged breach of contract and fiduciary duty. Apple pops Apple 's shares rose to a record high a day after it announced its push into artificial intelligence. Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are. For more, CNBC's Jeff Cox explains there could be a huge impact from the consumer price index and the Fed meeting.

Persons: Paul Jacobson, Elon Musk, Sam Altman, Greg Brockman, Siri, OpenAI, Morgan Stanley, Goldman Sachs, David Malpass, Dennis Lockhart, Jeff Cox, — CNBC's Lim Hui Jie, Lisa Kailai Han, Alex Harring, Spencer Kimball, Hayden Field, Samantha Subin, Ashley Capoot, Michael Wayland Organizations: New York Stock Exchange, CNBC, General Motors, GM, OpenAI, Microsoft, Apple, Apple Intelligence, Federal Reserve, Brent, Bank, Biden, Strategic Petroleum Reserve, Atlanta Fed Locations: New York City, U.S, San Francisco

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☆ Stock market today: US stocks dip as 2-day Fed meeting kicks off
▼ + stars: | 2024-06-11 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Stock markets slipped as investors prepare for the Fed's June policy meeting. The FOMC meeting will end Wednesday, and will help determine where interest rates are going. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Investors are convinced that interest rates will remain unchanged, futures markets data shows. Upcoming inflation data on Wednesday should also help determine where interest rates are headed beyond in the coming months.

Persons: —, Jerome Powell, eyeing, Brent, Bitcoin Organizations: Service, Federal, Apple, West Texas, Treasury

☆ Oil prices extend rally on potential U.S. crude purchase for reserve
▼ + stars: | 2024-06-11 | by ( ) www.cnbc.com time to read: +2 min

An offshore oil platform is seen at sunset on February 9, 2024 near Huntington Beach, California. Oil prices rose on Tuesday, extending the previous day's rally on hopes of higher seasonal fuel demand and potential U.S. crude purchases for its petroleum reserve, though gains were capped by a firmer dollar. Brent crude futures climbed 28 cents, or 0.3%, to $81.91 per barrel by 0038 GMT and U.S. West Texas Intermediate crude futures rose 31 cents, or 0.4%, to $78.05. "Since WTI is near its 200-day average, we expect oil prices to remain close to current levels for a while," he said. U.S. crude oil stockpiles were expected to have fallen while product inventories likely rose last week, a preliminary Reuters poll showed on Monday.

Persons: WTI, Hiroyuki Kikukawa, Jennifer Granholm, Goldman Sachs, Brent Organizations: Brent, . West Texas, . Federal Reserve, NS, Nissan Securities, Strategic Petroleum Reserve, Energy, Reuters, American Petroleum Institute, Energy Information Administration, U.S . Department of Energy, U.S . Energy Information Administration, International Energy Agency Locations: Huntington Beach , California, U.S, .

☆ Children of ISIS fighters coming of age in detention ask what they’re being punished for
▼ + stars: | 2024-06-11 | by ( Brent Swails | Clarissa Ward | ) edition.cnn.com time to read: +15 min

Northeastern Syria CNN —He had had visitors just once before, years ago when he first arrived in prison at 14. According to Amnesty, the estimated 30,000 children currently held in at least 27 detention facilities and two detention camps – Al-Hol and Al-Roj – in northeastern Syria represent the highest concentration of children arbitrarily detained and deprived of their freedom anywhere in the world. CNN was granted extremely rare access inside detention camps and facilities for suspected ISIS fighters and their family members, including Panorama prison. ‘A breeding ground for the next generation of ISIS’At Al-Hol, a sprawling detention camp of faded tents, rusted barbed wire and wind-swept earth, the scale of the problem reveals itself. Hoda Muthana holds hands with her 7-year-old son at the Al-Roj detention camp in northeastern Syria.

Persons: Northeastern Syria CNN —, Stefan Uterloo, Uterloo, ” Uterloo, It’s, We’ve, ”, Roj, Mazloum Abdi, ” Mazloum, Erik Kurilla, Mike Pratt, Hol, Ní, Ní Aoláin, “, you’ve, it’s, Shamil Chakar, doesn’t, ” Shamil, ‘, Brandy Salman, Hoda, She’s, Muthana, Trump, Hoda Muthana, Christina Jump, Scott McWhinnie, Oscar Featherstone, Augusta Anthony , Lou Robinson, Sarah Tilotta, Eliza Mackintosh, Laura Smith Organizations: Northeastern, Northeastern Syria CNN, American, CNN, ISIS, Syrian Democratic Forces, Panorama, Amnesty, United Nations, SDF, UN, US military’s, Command, US, Boys, Twitter, State Department Locations: Northeastern Syria, United States, Suriname, Dutch, South America, Syria, Kurdish, Iraq, Hol, Al, Panorama, Baghouz, Cologne, Germany, Minnesota, American, Alabama, US

☆ Biden and Trump's reactions to historic trials couldn't be more different
▼ + stars: | 2024-06-11 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

Biden reiterated his respect for the judicial process after a Delaware jury found Hunter Biden guilty of three felony counts of lying on gun purchasing forms and unlawfully owning a firearm. Related storiesAfter the Trump verdict, Biden said Americans can't say they respect the rule of law only when they agree with a jury's verdict. "Our justice system has endured for nearly 250 years, and it literally is the cornerstone of America — our justice system. Biden's family, led by first lady Jill Biden, surrounded Hunter Biden almost every day the trial was held. Just hours after the verdict, Biden was set to give a previously scheduled address that will call for stricter gun laws.

Persons: —, Joe Biden, Donald Trump, Biden, Hunter Biden, Hunter, Trump, Jill Biden, Melania Trump, assailing Hunter Biden, Hunter Biden's, Biden's, He's, he's, I'm Organizations: Service, Business, White, Trump, Justice Department, Biden, Manhattan, Republicans, House Republicans Locations: Delaware, Manhattan, America

☆ Biden's approval rating just hit its lowest mark on record
▼ + stars: | 2024-06-10 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Read previewPresident Joe Biden's approval rating remains severely underwater just under five months before Americans will render their verdict on his reelection bid. Joe Biden's approval rating has hit 37.4% in 538's average—an all-time low. https://t.co/sF8buXFup9 pic.twitter.com/lZcLTxOOw2 — Nathaniel Rakich (@baseballot) June 10, 2024On Monday, Biden notched the unpleasant distinction of recording his lowest-ever mark in FiveThirtyEight's weighted tracker of his approval rating with a 37.4% approval. According to FiveThirtyEight's weighted average, Trump has a 41.6% approval rating. Four other modern presidents had an average sub-50% approval rating at this same point in time.

Persons: —, Joe Biden's, sF8buXFup9, lZcLTxOOw2, Nathaniel Rakich, Biden, Donald Trump's, Trump, Gallup, Hillary Clinton, Barack Obama Organizations: Service, Business, Monday, White House, Capitol, Gallup, Biden Locations: Gaza, Afghanistan

☆ India's aviation growth remains strong but external risks linger, Vistara CEO says
▼ + stars: | 2024-06-10 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

India's aviation sector remains robust but external pressures pose the biggest risks for growth, according to the CEO of Vistara Airlines. Aviation demand in India is "still progressive" and headed in a positive direction, Vinod Kannan told CNBC in an exclusive interview. However, factors such as fuel costs as well as the strong U.S. dollar could impact growth, he added. The domestic air passenger traffic in India in the financial year ended March 2024 is estimated to stand at $154 million — up about 13% year-on-year, according to credit rating agency ICRA. "Outlook on the Indian aviation industry is stable, amid the continued recovery in domestic and international air passenger traffic, and relatively stable cost environment and expectations of the trend continuing in fiscal year 2024-25," it said.

Persons: Vinod Kannan, CNBC's, Brent Organizations: Vistara Airlines, Aviation, CNBC, U.S, CNBC's Sri Locations: India

☆ Oil slips on dollar's strength from U.S. jobs data
▼ + stars: | 2024-06-10 | by ( ) www.cnbc.com time to read: +3 min

Oil wells are seen at an oil facility by the Highway 5 near Bakersfield in California, U.S. on Nov. 27, 2022. Oil prices nudged lower for a second straight session on Monday, weighed down by a firmer dollar as expectations of interest rate cuts were pushed out further following strong U.S. jobs data on Friday. On Friday, data showed the U.S. added more jobs than expected last month, leading investors to trim expectations for rate cuts and causing the dollar to rally. In the U.S., Washington stepped up purchasing of crude oil to replenish the Strategic Petroleum Reserve after prices fell. Last week, U.S. energy firms cut the number of oil and natural gas rigs operating to the lowest since January 2022, energy services firm Baker Hughes said on Friday.

Persons: Emmanuel Macron, Le, Tony Sycamore, Sycamore, Brent, WTI, FGE, Washington, Baker Hughes, Hayan Abdel, Ghani Organizations: Brent, . West Texas, greenback, European Union, IG, U.S . Federal Reserve, Bank of Japan, Organization of, Petroleum, bbl, Strategic Petroleum Reserve, Iraq's Oil Locations: Bakersfield, California, U.S, European, Sydney, OPEC, Kurdistan, Iraq, Turkey

☆ Oil prices edge higher after weekly loss as Goldman sees supply deficit on summer fuel demand
▼ + stars: | 2024-06-10 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

Platform Eureka, an offshore oil and gas platform operated by Beta Operating Company LLC, off the coast of Long Beach, California, US, on Thursday, Nov. 2, 2023. Crude oil futures rose slightly on Monday as analysts see summer fuel demand pushing the market into a supply deficit in the coming weeks. Goldman Sachs analysts said Brent should rise to $86 in the third quarter as summer transportation and cooling demand pushes the market into a "sizeable" deficit of 1.3 million barrels per day. Here are today's energy prices:Oil prices posted a loss last week after OPEC+ agreed to increase production starting in October through September 2025. OPEC+ can delay, pause or reverse its decision to raise production if needed to stabilize the oil market, Goldman analyst Daan Struyven told clients in a Sunday note.

Persons: Goldman Sachs, Brent, Daan Struyven Organizations: Beta Operating, Goldman Locations: Eureka, Long Beach , California, OPEC

☆ Crude oil posts third straight weekly loss as supply and demand weigh on market
▼ + stars: | 2024-06-07 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Crude oil futures Friday posted a third straight weekly loss on worries that demand may be softening even as OPEC+ plans to increase production. Here are Friday's closing energy prices:The OPEC+ production increase would start when refineries are down for fall maintenance and then ramp up as demand typically weakens heading into winter. Still, oil market analysts have widely described this week's sell-off as an overreaction, noting that the OPEC+ production increase does not start until October. In the meantime, oil balances should tighten as the cuts remain in place during the summer driving season when demand typically rises, according to JPMorgan. JPMorgan and Barclays have said oil demand growth remains relatively healthy.

Organizations: Brent, Poor U.S, JPMorgan, Barclays, Deutsche Bank, RBC Capital Markets Locations: Gulf of Mexico, OPEC

☆ OPEC+ policy shift 'casts a bearish shadow' over oil prices for next two years, Deutsche Bank says
▼ + stars: | 2024-06-05 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

The decision by OPEC+ to increase oil production will cast a "bearish shadow" over oil prices for the next two years, creating a level of uncertainty not seen since the pandemic severely disrupted demand, according to Deutsche Bank. It is "inconceivable that the market could absorb anything close" to 2.2 million bpd, Deutsche Bank analyst Michael Hsueh told clients in a note Wednesday. The supply increase is similar in magnitude to the 2.3 million bpd oversupply during the first year of the pandemic in 2020, Hsueh wrote. The policy shift by OPEC+ "marks the end of the tightening cycle that began in October 2022," Hsueh said. The supply deficit of 500,000 bpd this quarter will rise to 1 million bpd in the third quarter before the OPEC+ production increases start, according to Deutsche.

Persons: Michael Hsueh, Hsueh, Goldman Sachs, Brent Organizations: OPEC, Deutsche Bank ., Deutsche Bank, TD Securities, Deutsche, Brent Locations: Saudi Arabia, Russia, OPEC, Mexico, U.S

☆ Trump and Biden's chief of staff are squaring off next week to sway top business execs
▼ + stars: | 2024-06-05 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +1 min

Donald Trump is set to address a influential meeting of the nation's top CEOs. The former president is making a major play for Wall Street. President Joe Biden is sending his White House chief of staff Jeff Zients to the meeting. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy .

Persons: Donald Trump, Joe Biden, Jeff Zients, — Organizations: Wall, White, Service, CNBC, Trump, White House, Business

☆ Oil market 'oversold'? Analysts and traders pin crude's price plunge on demand, trading strategies
▼ + stars: | 2024-06-05 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Oil prices defied the announcement of extended supply cuts from the OPEC+ alliance with brisk declines, with analysts and traders faulting certain trading strategies and the demand picture for the downturn. "I would say that what the market is going through currently is going into an oversold, technically oversold market that is pushing the prices down," he noted. The front-month Nymex WTI contract was at $73.28 per barrel, higher by 3 cents per barrel from the Tuesday settlement. While some blame the OPEC+ meeting for the drop, we believe other factors — such as the option market—have played a role," UBS strategist Giovanni Staunovo said in a Tuesday note to clients. Renewed inventory draws are needed to push oil prices higher, in our view."

Persons: Abdulaziz Almoqbel, CNBC's Dan Murphy, —, …, Almoqbel, Ice Brent, Giovanni Staunovo Organizations: Organization of, Petroleum, Ice, bbl, UBS Locations: Huntington Beach , California, OPEC, London

☆ Oil prices rise but hover near four-month low on OPEC+ supply increase later this year
▼ + stars: | 2024-06-05 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Yasir Al-Rumayyan, chairman of Saudi Arabian Oil Co. (Aramco), speaks during a news conference in Dammam, Saudi Arabia, on Sunday, Nov. 3, 2019. Crude oil futures rebounded slightly Wednesday but hovered near a four-month low as a decision by OPEC+ to increase production later this year continued to weigh on the market. U.S. crude oil and global benchmark Brent are down more than 4% this week after eight OPEC+ members agreed Sunday to gradually phase out 2.2 million barrels per day in production cuts. OPEC+ won't start increasing production until October, and the global oil balance sheet will tighten beforehand, Patterson said. Here are today's energy prices:"The technicals also suggest that the oil market is entering oversold territory," Patterson told clients in a research note on Wednesday.

Persons: Yasir Al, Rumayyan, Warren Patterson, Patterson, Bob Yawger, Yawger Organizations: Saudi Arabian Oil Co, Aramco, OPEC, Brent, ING, Mizuho Securities Locations: Dammam, Saudi Arabia, .

☆ Oil slips for sixth consecutive day on big builds in U.S. oil, fuel stocks
▼ + stars: | 2024-06-05 | by ( ) www.cnbc.com time to read: +1 min

U.S. crude oil, gasoline and distillate stocks rose last week, according to sources citing American Petroleum Institute figures. API figures showed crude stocks rose by more than 4 million barrels in the week ended May 31, against analysts' forecasts for a 2.3 million-barrel decline in a Reuters poll. Gasoline stocks also rose more than 4 million barrels, which was a much bigger build than the 2 million-barrel increase analysts had expected. Rising U.S. stocks could weigh heavily on investor sentiment around oil demand. Data for last week reflects fuel usage around the Memorial Day holiday, closely watched as it marks the start of U.S. driving season.

Persons: Tim Evans Organizations: Brent, . West Texas, American Petroleum Institute, U.S . Energy, Administration Locations: OPEC, U.S

☆ Jill Biden has attended each day of Hunter Biden's trial so far. Melania Trump missed every day of Donald Trump's.
▼ + stars: | 2024-06-04 | by ( Laura Italiano | Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

First Lady Jill Biden walks into federal court in Wilmington, Delaware, on the first day of Hunter Biden's gun trial. "Happy Birthday," Hunter Biden was overheard telling the first lady at one point, according to The Washington Post. Hunter Biden and wife Melissa Cohen Biden enter federal court in Wilmington, Delaware for opening statements in his gun trial. Both the Biden trial and Trump hush-money trial featured testimony that close family members could find difficult to sit through. NEW POTUS statement as son Hunter Biden’s trial gets underway.

Persons: —, Jill Biden, Hunter, Biden, Melania Trump, Donald Trump's, Lady Jill Biden, Matt Slocum Jill Biden, Hunter Biden, Caleb Boggs, Melissa Cohen Biden, Matt Slocum, Abbe Lowell, Hallie Biden, Lowell, Judge Maryellen Noreika, Donald Trump, Eric, Donald Trump , Jr, Tiffany Trump, Republican Trump, Trump, Stormy Daniels, Playboy Bunny Karen McDougal, Hunter Biden’s, GS50fddvt8 — Kellie Meyer, Jill Organizations: Service, Business, The Washington Post, Trump, Republican, White Locations: Delaware, Manhattan, Wilmington , Delaware, Wilmington

☆ Databricks acquires data optimization startup Tabular in fresh challenge to Snowflake
▼ + stars: | 2024-06-04 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

Data analytics software maker Databricks said in a statement on Tuesday that it's acquiring Tabular, a startup that helps optimize data stored in the cloud. The gesture could help Databricks more quickly bring out products as it faces competition from Snowflake and other entities. Databricks is paying over $1 billion to buy Tabular, Databricks CEO Ali Ghodsi said in an interview. Snowflake was also bidding on Tabular, as was Confluent , a person familiar with the matter told CNBC. Focusing more on Iceberg tables might allow Databricks to take business from Snowflake clients that embrace the format.

Persons: Ali Ghodsi, Databricks, Snowflake, Ryan Blue, Dan Weeks, Okta, Mike Scarpelli, Morgan Stanley, Ghodsi, Andreessen Horowitz, Frank Slootman's, Jefferies, Brent Thill Organizations: Databricks, Summit, Street Journal, CNBC, Developers, Netflix, Salesforce, Amazon, Services, Monday, Zetta Venture Partners Locations: San Francisco, Snowflake, Delta

☆ OPEC+ decision to increase oil supply is a 'bearish surprise' for the market, Goldman says
▼ + stars: | 2024-06-04 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

The detailed plan laid out by OPEC+ over the weekend to increase oil production delivered a "bearish surprise" to a market in which prices were already under downward pressure, according to Goldman Sachs. OPEC+ plan difficult to reverse The OPEC+ members said the production increases are subject to market conditions and could be reversed. Struyven described OPEC's forecast as "very bullish," with Goldman forecasting demand growth of 1.5 million bpd in 2024. Market could deteriorate in 2025 The oil market will remain in balance or in a slight deficit for the time being, according to Ryan McKay, senior commodity strategist at TD Securities. Yet those cuts have failed to limit shale oil production in the U.S., Lipow said.

Persons: Goldman Sachs, Brent, WTI, Daan Struyven, Bob Yawger, Yawger, Helima Croft, Goldman's Struyven, Andrew Lipow, Struyven, Lipow, Ryan McKay, McKay, Daan Organizations: West Texas Intermediate, Goldman, OPEC, Mizuho Securities, CNBC, RBC Capital Markets, Lipow Oil Associates, TD Securities, JPMorgan Locations: OPEC, Saudi Arabia, Russia, U.S, Brazil, Guyana, Norway, Senegal, Persian, Arabian

☆ Oil prices extend losses on worries of supply rising later in 2024
▼ + stars: | 2024-06-04 | by ( ) www.cnbc.com time to read: +1 min

Oil prices eased in early trade on Tuesday, extending their losses from the previous session when prices fell to their lowest in four months, as investors worried about supply ticking up later in the year. Brent closed below $80 for the first time since Feb. 7, after falling more than 3% on Monday. Signs of weakening demand growth have also weighed on oil prices in recent months, with data on U.S. fuel consumption in focus. The U.S. government will release inventory and product supplied data on Wednesday. Product supplied, considered a proxy for demand, will show how much gasoline was consumed around the Memorial Day weekend, the start to the U.S. driving season.

Persons: Brent, Walt Chancellor Organizations: Brent, . West Texas, of, Petroleum, Sunday, Macquarie Locations: ., Russia, OPEC, United States, U.S

☆ U.S. crude oil extends losses on OPEC+ increasing supply later this year
▼ + stars: | 2024-06-04 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Platform Ellen and Elly, offshore oil and gas platforms operated by Beta Operating Company LLC, off the coast of Long Beach, California, US, on Thursday, Nov. 2, 2023. U.S. crude oil fell more than 1% on Tuesday, extending a recent losing streak to erase most of its gains for the year after OPEC+ announced plans to increase production starting in October. U.S. crude oil and global benchmark Brent both hit four-month lows earlier in the session. U.S. crude has fallen for five consecutive sessions now, with the July contract tumbling 3.6% on Monday in the wake of the OPEC+ meeting last weekend. Here are Tuesday's closing energy prices:In a surprise move, eight producers led by Saudi Arabia and Russia laid out a detailed plan to gradually phase out 2.2 million bpd of production cuts from October 2024 through September 2025, meaning oil supply will start increasing in the fourth quarter of this year.

Organizations: Beta Operating, OPEC, Brent Locations: Long Beach , California, Saudi Arabia, Russia

☆ Pharma giant GSK plunges 9% after U.S. court allows scientific testimony in Zantac lawsuits
▼ + stars: | 2024-06-03 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Company logo of pharmaceutical company GlaxoSmithKline is seen at their Stevenage facility, Britain October 26, 2020. LONDON — Shares of British pharmaceuticals giant GSK plunged 9% Monday, after a U.S. court ruled that scientific evidence could be presented in a stack of lawsuits relating to the discontinued heartburn drug Zantac. The Delaware State Court late on Friday ruled that plaintiffs' expert witnesses could testify in the roughly 75,000 cases alleging the once-popular drug ranitidine — sold under the brand name Zantac in the U.S. — may cause cancer. The companies involved deny there is a scientific consensus that the drug can be linked to any later development of cancers. In a statement Friday, GSK said it disagreed with the latest Delaware ruling and would immediately seek an appeal.

Persons: ranitidine —, Brent Wisner, Wisner Baum, Zantac Organizations: GlaxoSmithKline, Stevenage, GSK, Delaware State Court, France's, Pfizer, Germany's Locations: Britain, Delaware, U.S, France's Sanofi

☆ MTG refused to address Anthony Fauci as a doctor during a combative House hearing
▼ + stars: | 2024-06-03 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +1 min

Rep. Marjorie Taylor Greene of Georgia refused to address Anthony Fauci as a doctor during a hearing. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRep. Marjorie Taylor Greene of Georgia was reprimanded on Monday for refusing to recognize Dr. Anthony Fauci as a doctor during a combative House hearing on Fauci's role in responding to the COVID-19 pandemic. "Mr. Fauci, because you're not doctor, you're Mr. Fauci in my few minutes," Greene, a Republican, said, addressing Fauci.

Persons: Marjorie Taylor Greene, Anthony Fauci, Greene, —, Fauci, Jamie Raskin Organizations: Service, Republican, Business Locations: Georgia

☆ The fundamentals and technicals are aligning for these stocks, according to Piper Sandler
▼ + stars: | 2024-06-03 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

With equities ending May higher, Piper Sandler says everything is going right for a handful of stocks. M & T Bank Regional bank M & T made the Piper Sander list, with analyst Frank Schiraldi highlighting the stock's reversal of a long downward trend and its fresh 52-week high reached on May 15. The analyst added that Oracle has yet to fully capitalize on a growing artificial intelligence tailwind. Tractor Supply Shares of retailer Tractor Supply have surged more than 32% in 2024. "Tractor Supply Company possesses the attributes that the macro select model is targeting as prime for the current backdrop," the analyst said.

Persons: Piper Sandler, Piper Sander, Frank Schiraldi, Schiraldi, Brent Bracelin, Bracelin, Peter Keith, Keith Organizations: Piper, Federal, T Bank Regional, T Bank, Oracle, Oracle Corporation, ", Tractor Supply, Tractor Supply Company

☆ Oil prices little changed after OPEC+ extends output cuts
▼ + stars: | 2024-06-03 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

The OPEC logo on the building of the Organization of the Petroleum Exporting Countries. Crude oil futures were little change on Monday as investors tried to parse what impact OPEC's weekend decision on production policy will have on the market. OPEC+ agreed to extend 3.6 million barrels per day in production cuts through the end of 2025. But JPMorgan analysts said the decision by OPEC+ Sunday is largely neutral for global oil prices in 2024. The production cuts combined with summer driving should increase Brent prices by $10 to the $90-per-barrel range by September, according to the investment bank.

Persons: Wells, Roger Read, Brent Organizations: Organization of, Petroleum, JPMorgan, OPEC Locations: OPEC, Saudi Arabia, Russia, Q4'24

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