Traders work on the floor of the New York Stock Exchange on Jan. 10, 2025 in New York City.NYSEStock futures hovered near the flatline on Tuesday night as traders looked ahead to the release of December’s consumer price index, a key gauge of inflation.Futures tied to the Dow Jones Industrial Average rose 37 points, or nearly 0.1%. S&P 500 futures were little changed, and Nasdaq 100 futures climbed 0.1%.In the regular session, the blue-chip Dow gained 221.16 points, or 0.52%, while the S&P 500 added 0.11%. On the other hand, a pullback in tech names weighed on the Nasdaq Composite,…
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A slump in Chinese consumer confidence is holding Sanlam investments’ Hannah Gooch-Peters back from buying luxury stocks like LVMH.Speaking to CNBC’s Silvia Amaro, the portfolio manager said she would need a “larger margin of safety” before investing in the world’s largest luxury group.”A lot of these European companies were really deriving their growth from the Chinese consumer and so when we started to see missteps in execution … it was almost the perfect storm for L’Oreal and LVMH,” Gooch-Peters said, as the companies were trading at “exceptionally high valuations for the growth they had to offer.”L’Oreal and LVMH shares are…
Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox. Here’s what CNBC TV’s producers were watching as the Dow climbed more than 200 points on Tuesday, and what’s on the radar for the next session. The banks Earnings season kicks off with several big financial names reporting Wednesday morning. Citigroup is up 11% from three months ago. The stock is just off last week’s high. Goldman Sachs is up 9.3% in three months. It’s 6.7% from…
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Pedestrians walk past Japanese national flags decorating a street in the popular tourist area of Ginza as people do last minute shopping before the New Year’s holidays, in central Tokyo on December 30, 2024. Richard A. Brooks | AFP | Getty ImagesAsia-Pacific markets rose Wednesday, following a softer-than-expected inflation data from the U.S. that sent two key Wall Street benchmarks higher overnight.The producer price index, which measures wholesale inflation, climbed just 0.2% in December, according to the Bureau of Labor Statistics. Economists polled by Dow Jones had estimated a 0.4% rise. Core PPI, which excludes food and energy, came in flat.Investors…
The NFL’s version of the Elite Eight is set, and we are going to be treated to some showstopping matchups in this weekend’s divisional round. The headliner, of course, will be the clash of two MVP favorites, with quarterback Lamar Jackson taking his Baltimore Ravens to Buffalo for a matchup against Josh Allen and the Buffalo Bills.Though that game will steal a lot of the spotlight, the other three games could be thrilling, too. Jeff Howe breaks down each of the four divisional-round matchups this weekend before The Athletic’s NFL Projection Model, created by Austin Mock, reveals the odds each…
President Biden will remove Cuba from a list of state sponsors of terrorism, U.S. officials announced on Tuesday, as a part of a deal that is expected to free protesters jailed during a sweeping 2021 crackdown on dissent by the Communist government.Removing Cuba from the list would typically raise expectations of improved relations between Washington and Havana and renewed hope for economic investment in Cuba.But Mr. Biden’s decision is only the latest in a series of conflicting U.S. approaches to Cuba by different administrations. The Obama administration made the decision to remove the terrorism designation for Cuba as part of…
The Nasdaq Composite entered Tuesday down nearly 4% over the past week, with the 10-year Treasury yield jumping to its highest level since 2023. A cooler-than-expected inflation report on Tuesday morning did not bring immediate relief to the tech trade, as the Nasdaq was lagging again in midday trading. However, some wealth managers are saying this could be a minor adjustment for the market rather than the start of a downturn. Ritholtz Wealth Management CEO Josh Brown has argued that the sell-off is an example of delayed tax-selling. In this manner, investors are deferring the realization of big gains in…
The final trades of the day with CNBC’s Melissa Lee and the Fast Money traders. Source link
Beata Zawrzel | Nurphoto | Getty ImagesThe SEC filed a lawsuit against Elon Musk on Tuesday, alleging the billionaire committed securities fraud in 2022 by failing to disclose his ownership in Twitter and buying shares at “artificially low prices.”Musk, who is also CEO of Tesla and SpaceX, purchased Twitter for $44 billion, later changing the name of the social network to X. Prior to the acquisition he’d built up a position in the company of greater than 5%, which would’ve required disclosing his holding to the public.According to the SEC complaint, Musk withheld that material information, “allowing him to underpay…
