Key PointsEther at one point Wednesday traded as high as $4,714.02, putting it less than $200 away from its November 2021 all-time high.Inflows into ether ETFs are up to $1.5 billion so far this week, compared to $244 million into bitcoin ETFs. Standard Chartered raised its price target on ETH to $7,500 by the end of the year from $4,000.Ether could test its all-time high this week for the first time since the cryptocurrency saw the level in 2021, if investors keep up this week’s buying momentum. The price of ether, better known by its ticker ETH, was last higher…
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The Trump administration is considering 11 candidates to replace Federal Reserve Chairman Jerome Powell when his term expires in May, including three that have not previously been publicly named, according to two administration officials who declined to be named.The new names includes Jefferies Chief Market Strategist David Zervos, former Fed Governor Larry Lindsey, and Rick Rieder, chief investment officer for global fixed income at BlackRock.They now join a list of 8 other candidates that CNBC has confirmed are under consideration, including Fed Vice Chair for Supervision Michelle Bowman, Fed Governor Chris Waller, and Fed Vice Chair Philip Jefferson. The officials…
Here are Wednesday’s biggest calls on Wall Street: Wells Fargo reiterates Dell as overweight Wells said shares of Dell have more room to run. “We continue to see Dell as best-positioned AI server momentum story.” Goldman Sachs reiterates Broadcom as buy Goldman raised its price target on Broadcom to $340 per share from $315 ahead of earnings on Sept. 4. “We believe expectations are elevated heading into the quarter, but many investors are positioned cautiously given elevated valuation, Street numbers which incorporate healthy growth in 2026, and few near-term catalysts.” Cantor Fitzgerald initiates Travelers as overweight Cantor said it’s bullish…
(This is a wrap-up of the key money moving discussions on CNBC’s “Worldwide Exchange” exclusive for PRO subscribers. Worldwide Exchange airs at 5 a.m. ET each day.) Investors are looking for opportunities in the crypto space and cyclicals with optimism growing for a quarter-point rate cut from the Federal Reserve in September. Worldwide Exchange Pick: Ethereum Tom Lee of Fundstrat is increasingly bullish on Ethereum, seeing a potential Federal Reserve rate cut as a tail wind and a forecast of $7,500 by year end from Standard Chartered as being conservative. “7,500 might even be on the low end of what’s…
Apple CEO Tim Cook (R) shakes hands with U.S. President Donald Trump during an event in the Oval Office of the White House on August 6, 2025 in Washington, DC. Win Mcnamee | Getty ImagesTop tech executives are at the forefront of a recent swathe of unprecedented deals with U.S. President Donald Trump.In just the last few days, the White House confirmed that two U.S. chipmakers, Nvidia and AMD, would be allowed to sell advanced chips to China in exchange for the U.S. government receiving a 15% cut of their revenues in the Asian country.Apple CEO Tim Cook, meanwhile, recently…
A pullback in SailPoint is a buying opportunity that investors shouldn’t overlook, according to JPMorgan. JPMorgan upgraded the identity security stock to overweight from neutral. Its price target of $26 implies more than 37% upside from Tuesday’s close. Shares have pulled back more than 15% in August. SailPoint went public earlier this year. SAIL YTD mountain SailPoint stock in 2025. Analyst Brian Essex labeled the weakness in SailPoint stock as an opportunity “to own a best-of-breed leader at sub-IPO valuation levels.” The pullback in the stock coincides with the lockup period around selling shares, which ended Monday. “We have seen…
Gildan apparel at a store in Montreal, Quebec, Canada, on Friday, Dec. 15, 2023.Graham Hughes | Bloomberg | Getty ImagesU.S. undergarments maker Hanesbrands has agreed to a takeover by Canada’s Gildan Activewear in a cash-and-stock deal valued at $4.4 billion, the companies said on Wednesday.Shares of Hanesbrands fell 6% in premarket trading after surging as much as 40% a day earlier, when news of the deal first emerged.The Financial Times first reported on the potential deal on Tuesday, followed by other media outlets, including Reuters.The deal caps a turbulent chapter for Hanesbrands, marked by years of underinvestment, heavy debt and…
JD Vance’s U.K. trip has caused a stir, with locals staging a ‘Vance not welcome party’ on Tuesday after the U.S. vice president’s motorcade arrived in the picturesque Cotswolds.”Bullies not welcome here,” read one sign, while another called to “make America moral again.”Other placards mocked the U.S. official more directly, saying “JD Vance’s Netflix password is password” and “JD Vance claps when the plane lands.”A meme image featuring Vance with a bald head was printed on balloons and attached to the front of a popular celebratory “caterpillar” cake and displayed on the side of a van.Residents also faced security checks…
Nvidia should report strong second-quarter results later this month that will drive shares higher, according to Piper Sandler. The firm raised its price target to $225 per share from $180, signaling about 23% upside ahead. It also kept its overweight rating on Nvidia. “We are expecting another positive quarter from NVDA and see upside to numbers for both the July and October quarters,” analyst Harsh Kumar said. “While we are modeling largely in-line for the July quarter and slightly below Street for October, we are calling for upside given the recent positive commentary from U.S. hyperscalers as well as the…
Tom Farley, chief executive officer of Bullish Global, during a Bloomberg Television interview on the sidelines of the Consensus Crypto Conference in Hong Kong, China, on Wednesday, Feb. 19, 2025. Lam Yik | Bloomberg | Getty ImagesCryptocurrency exchange Bullish has priced its initial public offering at $37 per share, above the expected range of $32 to $33 and giving it a total market value of $5.4 billion.The company will raise $1.1 billion in the offering of 30 million shares. In a measure of increased investor appetite, Bullish expanded the number of shares sold in the IPO from 20.3 million, which were…
