New York: The benchmark S&P 500 index hit a fresh record high on Thursday after a blowout revenue forecast from AI darling Nvidia boosted investor confidence in the sector and sparked a rally in growth and technology stocks. Nvidia’s shares surged 15.2% after the chip designer forecast a roughly three-fold surge in first-quarter revenue on … Read more
Traders work on the floor of the New York Stock Exchange during morning trading on January 31, 2024 in New York City. Michael M. Santiago | Getty Images The so-called “Magnificent 7” now wields greater financial might than almost every other major country in the world, according to new Deutsche Bank research. The meteoric rise … Read more
US consumer prices rise more than expected in Wall Street’s main indexes tumbled on Tuesday after a higher-than-expected consumer inflation reading pushed back market expectations of imminent interest rate cuts, driving U.S. Treasury yields higher. The Dow Jones Industrial Average posted its biggest one-day percentage drop in nearly 11 months, after a Labor Department report … Read more
Evercore ISI’s Julian Emanuel thinks Nvidia’s monster rally is fueling a fear of missing out in the market. He finds clients, including many who traded through the dot-com boom and subsequent collapse, are more worried about being underinvested than overexposed right now. “That’s the first time that’s happened since 2021 for us,” the firm’s senior … Read more
Investors may want to consider putting money to work in a lagging part of the market. According to VanEck CEO Jan van Eck, oil stocks are getting a raw deal. “The [oil] supply is there. The companies are arguably the next best cash flowing companies [compared to] the semiconductors,” he told CNBC’s “ETF Edge” this … Read more
A logo outside a Societe Generale SA bank branch in Paris, France. Bloomberg | Bloomberg | Getty Images Societe Generale on Thursday reported a sharp decline in fourth-quarter net profit on the back of weaker net banking income, but launched a new 280 million euro ($302 million) share buyback program. The French lender posted a … 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
A momentous shift is under way in global markets as investors pull billions of dollars from China’s sputtering economy, two decades after betting on the country as the world’s biggest growth story. Much of that cash is now heading for India, with Wall Street giants like Goldman Sachs Group Inc. and Morgan Stanley endorsing the … Read more
A trader reacts as a screen displays the Fed rate announcement on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 31, 2024. Brendan McDermid | Reuters The U.S. stock market is in a “very dangerous” spot as persistently strong jobs numbers and wage growth suggest the Federal Reserve’s … Read more
