Traders work on the floor during morning trading at the New York Stock Exchange on March 6, 2024. Spencer Platt | Getty Images The U.S. Federal Reserve, meanwhile, is expected to begin cutting interest rates in June, potentially supplying a further boon to high-growth tech stocks. The sheer scale and narrow nature of the bull … 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
My top 10 things to watch Friday, Feb. 9 1. Stock futures were slightly higher this morning after the S & P 500 briefly crossed 5,000 for the first time in intraday trading Thursday. The broad U.S. stock index is up nearly 5% this year, after gaining more than 24% in 2023. Meanwhile, bitcoin crossed … 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
CNBC’s Jim Cramer on Thursday told investors not to be wary of the Big Tech megacap stocks, saying their high valuation is well-earned. “Just because we haven’t seen the likes of them before doesn’t make them bogus,” he said. “They didn’t get their trillion-dollar valuations by fooling the most people. They got there because there … Read more
See Chart… MP Materials’ year-to-date stock performance. MP Materials: “I would hold onto it. I don’t have a catalyst to buy it right now, but it is very, very low.” See Chart… Howmet Aerospace’s year-to-date stock performance. See Chart… Toast’s year-to-date stock performance. Toast: “…We got to see them make money. If they made money, … Read more
See Chart… Visa’s year-to-date stock performance. Visa: “I don’t know…I think we ought to be thinking about buying Home Depot, and then secondarily Visa.” See Chart… Navitas’ year-to-date stock performance. Navitas: “[sell, sell sell!] It’s not making money. In this market, they’ve got to make money…Let’s just exist Navitas.” See Chart… Cytokinetics’ year-to-date stock performance. … Read more
A customer shops in a Kroger grocery store on July 15, 2022 in Houston, Texas. Brandon Bell | Getty Images Investors have cheered a new class of weight loss drugs for their ability to help people shed unwanted pounds, but the findings of a recent poll underscore the challenges patients face if they cease treatment. … Read more
IRS Commissioner Daniel Werfel testifies before the House Small Business Committee on July 17, 2013. James Lawler Duggan | Reuters The IRS has unveiled a “voluntary disclosure program” for businesses that claimed a pandemic-era tax credit in error and want to pay the money back. Worth thousands per employee, the employee retention tax credit, or … Read more
CNBC’s Jim Cramer keyed in on the optionality of six of the companies that have become known as the “Magnificent Seven” during his Wednesday show. “The Magnificent Seven have the most optionality of any publicly traded companies in modern history,” Cramer said. “To sell any of them is to forget that they have this kind … Read more