Here are the most important news items that investors need to start their trading day: 1. Earnings juice A stronger-than-expected earnings season is driving U.S. stocks to new highs. The broad-based S&P 500 index rose about 0.8% on Wednesday, settling just below 5,000 to notch a record close. The Nasdaq Composite and Dow Jones Industrial … Read more
Bill Ackman, Pershing Square Capital Management CEO, speaking at the Delivering Alpha conference in New York City on Sept. 28, 2023. Adam Jeffery | CNBC Pershing Square’s Bill Ackman is set to offer a new investment vehicle listed on the New York Stock Exchange, aiming to leverage his following among Main Street investors. The hedge fund … Read more
Nvidia shares hit a fresh all-time high today, and its gains may still be in the early innings, according to VanEck CEO Jan van Eck. Van Eck, whose firm runs the largest U.S. semi exchange-traded fund, points to a first-mover edge in the race to fabricate artificial intelligence chips that could bolster the performance of … Read more
CNBC’s Jim Cramer on Wednesday reminded investors that not all market moves are sensible, pointing to recent actions that he believes reflect faulty reasoning. “Each day on this front is a reminder that you can’t just assume all moves on your screen are the products of any intelligence, especially during earnings season when the market’s … Read more
Wynn Resorts posted beats on its top and bottom lines in the fourth quarter. In results released after the closing bell Wednesday, both Macao locations and Las Vegas were strong while Boston Harbor was essentially in line with expectations. The Club stock moved higher in after-hours trading. Operating revenue for the three months ended Dec. … Read more
Disney reported stronger-than-expected fiscal 2024 first-quarter earnings after the closing bell Wednesday as cost reductions across its many businesses boosted margins despite flat revenue. A strong profit forecast for the rest of fiscal 2024 and an upsized capital return program helped send shares up more than 6% higher in after-hours trading. Revenue was about flat … Read more
The New York Community Bank (NYCB) headquarters in Hicksville, New York, US, on Thursday, Feb. 1, 2024. Bing Guan | Bloomberg | Getty Images Embattled lender New York Community Bank disclosed a litany of financial metrics in the past 24 hours in a bid to soothe skittish investors. But one of the most crucial resources … Read more
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. 1. U.S. stocks climbed higher Wednesday as investors digested more corporate earnings releases. The Nasdaq was up 0.7%, leading gains among the three stock benchmarks. The S & P 500 … Read more
Here are the most important news items that investors need to start their trading day: 1. Reaching for rate cuts Stocks have pulled back from their record highs as doubts grow about how soon the Federal Reserve will start to cut interest rates. After the central bank held rates steady last week, Chair Jerome Powell … Read more
A sign is pictured above a branch of the New York Community Bank in Yonkers, New York, U.S., January 31, 2024. Mike Segar | Reuters New York Community Bank’s shares continued their downward spiral Wednesday after Moody’s Investors Service cut the firm’s credit rating two notches to junk status. NYCB shares fell about 3%, trimming … Read more
