New all-time highs in the S & P 500 have been welcomed by investors in the wake of the Federal Reserve going big on their first rate cut. Yet, the sustainability of this near year-long rally is being questioned. The SPDR S & P 500 (SPY) is up nearly 20% year to date, I want to spend some of my remarkable 2024 profits on downside protection in the event a breather to the rally or a downturn is imminent. .SPX YTD mountain S & P 500, year-to-date Measuring risk is always a challenge, specifically when various headwinds exist at the…
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Consumers’ view on the economy tumbled in September, falling by the largest level in more than three years as fears grew about jobs and business conditions, the Conference Board reported Tuesday.The board’s Consumer Confidence Index slid to 98.7, down from 105.6 in August, the biggest one-month decline since August 2021. The Dow Jones consensus forecast was for a reading of 104.Each of the five components the organization samples fared worse on the month, with the biggest fall coming among those aged 35-54 and earning less than $50,000.”Consumers’ assessments of current business conditions turned negative while views of the current labor…
[The stream is slated to start at 10:00 a.m. ET. Please refresh the page if you do not see a player above at that time.]President Joe Biden addresses the United Nations General Assembly for the final time in his presidency, with a speech that will attempt to tout his administration’s foreign policy achievements against a backdrop of ongoing wars in the Middle East, Ukraine and Sudan.Vice President Kamala Harris, the Democratic nominee, and her Republican opponent, former President Donald Trump, are also set to meet with foreign leaders visiting the U.S. for the UN events this week.Read more CNBC politics…
Liverpool, ENGLAND — U.K. Prime Minister Keir Starmer insisted on Tuesday that tough decisions taken now will spark a new era for Britain, as he sought to shake a fog of pessimism that has clouded his new premiership.”Change must mean nothing less than national renewal,” he told a crowd of Labour Party delegates Tuesday.”The truth is that if we take tough long-term decisions now, if we stick to driving purpose behind everything we do … then that light at the end of this tunnel, that Britain that belongs to you, we get there much more quickly,” he said at the…
US Federal Reserve Governor Michelle Bowman attends a “Fed Listens” event at the Federal Reserve headquarters in Washington, DC, on October 4, 2019. Eric Baradat | AFP | Getty ImagesFederal Reserve Governor Michelle Bowman said Tuesday she thought her colleagues should have taken a more measured approach to last week’s half percentage point interest rate cut as she worries that inflation could reignite.Bowman was the lone dissenter from the Federal Open Market Committee’s decision to lower benchmark interest rates for the first time in more than four years. No governor had dissented from an interest rate decision since 2005.In explaining her…
Shares in Bloom Energy could double if the fuel cell company wins a large deal to power data centers similar to the Three Mile Island nuclear plant restart , according to Morgan Stanley. The investment bank sees Bloom surging to $22 per share, compared to Monday’s close of $10.86, if the company signs a data center deal for 100 megawatts or more. Morgan Stanley expects such a deal to materialize by mid-2025. Constellation Energy ‘s contract to help power Microsoft ‘s data centers with power from Three Mile Island, south of Harrisburg, Pennsylvania, shows that tech companies are willing to…
The stock and bond markets are telling two different stories. The S & P 500 and Dow Jones Industrial Average posted record closing highs on Monday, adding to the momentum seen since the Federal Reserve cut interest rates last week. For the third quarter, the S & P 500 has popped 4.7%, while the Dow is higher by 7.7%. That performance paints a picture of a booming economy and soaring corporate profits under a Fed regime of lower interest rates. The bond market, however, is signaling something else, according to Cantor Fitzgerald’s Eric Johnston. “The bond market has the fed…
Smartsheet CEO Mark Mader.Source: SmartsheetCollaboration software maker Smartsheet on Tuesday announced it would be acquired by Blackstone and Vista Equity Partners in an all-cash deal which valued the company at $8.4 billion. This is breaking news. Please refresh for updates. Source link
Jakub Porzycki | Nurphoto | Getty ImagesWarner Bros. Discovery is partnering with Google to integrate the internet giant’s AI technology into its Max video streaming platform to automatically generate captions.The two companies said they were working to make Max’s captions more accurate using a new caption-generation tool, which is being referred to internally as “caption AI.”They said the tech, built on Google’s Vertex AI development platform for generative AI products, is able to automatically convert video content into text. It will initially be used for unscripted programming on Max, as opposed to scripted shows and films where dialog is already available.The new…
Here are Tuesday’s biggest calls on Wall Street: Piper Sandler initiates Colgate-Palmolive and Church & Dwight as overweight Piper said both consumer products company offer an attractive risk/reward. “We’re constructive on the overall sector, but when taking a deeper look into some key attributes that could greatly differentiate one company from another amidst the current macro backdrop as well as valuation state and tendencies, we see more positive risk/reward for CHD / CL and more balanced risk/reward for PG.” Baird initiates ResMed as outperform Baird said in its initiation of ResMed that it’s bullish on shares of the sleep apnea…
