Monthly Archives: June 2024
S&P 500 futures climb as investors await inflation data and end of second quarter: Live updates
(CNBC) S&P 500 futures climbed Friday morning as traders await closely followed inflation data. They are also counting down to the end of what has been a strong first half of the year. Futures tied to the broad market index ticked […]
There’s a big Fed inflation reading coming Friday. Here’s what to expect
(CNBC) There could be some pretty good inflation news on the way from the Commerce Department when it releases a key economic report Friday. The personal consumption expenditures price index, an inflation measure the Federal Reserve watches closely, is expected […]
Elon Musk won $56 billion payday because of vote, Tesla argues in court
(CNBC) Tesla is claiming Elon Musk won his legal battle over his $56 billion pay package because shareholders voted for the compensation, despite a judge rescinding it earlier this year, according to court filing made public on Friday. The company’s […]
Chewy stock pops 34% after Roaring Kitty posts a dog picture, then gives it all back
(CNBC) Chewy shares rallied dramatically on Thursday after meme stock leader Roaring Kitty posted a picture on social media platform X that resembles the logo of the online pet food retailer, but the gains were quickly erased later in the session. […]
Hedge funds swap tech stocks for financials amid strong gains, says Goldman Sachs
(Hedgeweek) Hedge funds are shifting away from technology stocks, particularly semiconductor and chip equipment, following robust gains in Q1 2024, according to a report by CNBC citing data from Goldman Sachs’ prime brokerage. To read this article:
Hedge funds cut Mexican peso bets in third-largest reduction on CFTC record
(Hedgeweek) Hedge funds have decreased their net long positions on the Mexican peso by 56,709 contracts following the country’s unexpected election of Morena’s Claudia Sheinbaum, bringing the total down to 27,304 contracts, according to a report by Bloomberg. To read this article:
S&P 500 futures fall slightly after the broader index rises for a second day: Live updates
(CNBC) U.S. S&P 500 futures fell slightly Wednesday night after the S&P 500 rose for a second day. S&P 500 futures and Nasdaq 100 futures dipped 0.19% and 0.32%, respectively. Dow Jones Industrial Average futures fell 73 points, or 0.18%. […]
Glen Point Capital co-founder avoids prison
(Hedgeweek) Neil Phillips, co-founder of hedge fund firm Glen Point Capital, has been sentenced to probation instead of a two-year prison sentence for manipulating an exchange rate, partly because the victim was Morgan Stanley, according to a report by Bloomberg. […]
Amazon reaches $2 trillion market cap for the first time
(CNBC) Amazon shares closed up 3.9% to $193.61 on Wednesday, pushing the company’s market cap past $2 trillion for the first time. In crossing the milestone, Amazon joins Nvidia, Apple, Alphabet and Microsoft, all of which are worth $2 trillion or more. Investors have piled into […]
Micron shares slide after revenue forecast fails to top estimates
(CNBC) Micron shares fell about 7% in extended trading on Wednesday as investors looked past better-than-expected results and focused instead on a revenue forecast that was in line with estimates. Here’s how the company did versus LSEG consensus estimates for the […]
Morgan Stanley wealth advisors are about to get an OpenAI-powered assistant to do their grunt work
(CNBC) Morgan Stanley is pushing further into its adoption of artificial intelligence with a new assistant that is expected to take over thousands of hours of labor for the bank’s financial advisors. The assistant, called “Debrief”, keeps detailed logs of advisors’ […]
Nvidia CEO Jensen Huang addresses rising competition at shareholder meeting after historic stock surge
(CNBC) Nvidia CEO Jensen Huang said on Wednesday that the company’s advantage in artificial intelligence chips was due to a bet it made more than 10 years ago, centering on billions of dollars in AI investment and a team of thousands of engineers. […]
