Latest news with #AlexHarring
CNBC
2 days ago
- Business
- CNBC
S&P 500 futures are little changed as benchmark closes in on all-time high: Live updates
Traders work at the New York Stock Exchange on June 23, 2025. NYSE S&P 500 futures sat near flat Thursday night with investors on all-time high watch and awaiting inflation data. Futures tied to the broad index traded around their flatline, as did Nasdaq 100 futures . Dow Jones Industrial Average futures added 33 points, or 0.1%. Thursday night's action comes as traders wait to see if the S&P 500 can rise to new records. The broad index climbed 0.8% to finish the trading day at 6,141.02, bringing it only a few points away from the intraday all-time high of 6,147.43 reached in February. The Nasdaq Composite jumped nearly 1%, also coming within striking distance of a fresh record. The Dow popped about 0.9%. "The markets were in a sense of stasis," said Rick Rieder, BlackRock's chief investment officer for global fixed income, on CNBC's "Closing Bell." "There is so much money that wants to come into the market that didn't for a while. And I just think if you don't have any negative news, the natural gravitational pull is across all these assets." Those gains have pushed the Dow and S&P 500 up more than 2% this week. The Nasdaq has jumped more than 3%. Investors will watch Friday for data from the May reading of personal consumption expenditures price index due in the morning. Economists polled by Dow Jones expect the index to tick 0.1% higher on the month and 2.3% from a year ago. So-called core PCE is slated to rise 0.1% from April and 2.6% from 12 months earlier. Beyond the inflation reading, traders will also monitor data on personal income, consumer spending and consumer sentiment. Futures tied to the Dow, S&P 500 and Nasdaq 100 all sat near flat shortly after 6 p.m. ET. — Alex Harring
CNBC
5 days ago
- Business
- CNBC
Stocks making the biggest moves premarket: Tesla, Northern Trust, DoorDash, Northrop Grumman, Exxon Mobil and more
Check out the companies making headlines before the bell. Northern Trust – Shares rose more than 6% after the Wall Street Journal, citing people familiar with the matter, reported that Bank of New York Mellon approached Northern Trust last week to convey interest in a merger between the two rivals. The report also said that BNY is considering its next steps, which could include a formal bid to Northern Trust. However, the people cautioned that the talks might not result in a deal. Fiserv — Shares of the financial services firm jumped almost 5% after it revealed plans to broaden its presence in the stablecoin space. The company plans to launch a stablecoin and digital-asset platform for banking clients. It also stuck partnerships with Circle and Paypal to further these efforts. Circle shares were up 5%, while Paypal gained almost 1%. Novo Nordisk – The pharmaceutical stock plummeted more than 5% after the latest results for the company's next-generation obesity drug CagriSema were disappointing and suggested no clear advantage over Eli Lilly's Zepbound. The company also announced that it has ended its collaboration with Hims & Hers Health , citing compounding and marketing concerns. Hims shares fell about 20%. Estee Lauder – The cosmetics stock popped 2% on the back of Deutsche Bank's upgrade to buy from hold. The bank now has the highest price target on Wall Street of analysts polled by LSEG. DoorDash – The food delivery company moved 2% higher. Raymond James upgraded the stock to strong buy from outperform. The firm said the synergy potential with British food delivery service Deliveroo, which DoorDash is acquiring, is underappreciated. Energy stocks – Shares of energy companies were higher after Iran's parliament backed closing the Strait of Hormuz , a key trade route for crude oil. The U.S. has since called on China to prevent Iran from closing the route. Exxon Mobil rose nearly 2%, while Marathon Petroleum and ConocoPhillips each advanced more than 1%. Others linked to nuclear energy like Centrus Energy and Uranium Energy Corp. also gained more than 3% and 1%, respectively. Tesla — Shares gained nearly 1%, after Tesla rolled out its robotaxi service in Austin, Texas, over the weekend. Wedbush analyst Dan Ives said a ride in the taxi exceeded his expectations . RTX , Northrop Grumman , Kratos Defense and Security – Defense stocks ticked higher on Monday after the United States struck Iranian nuclear facilities. Shares of RTX and Northrop Grumman each added around 1%. Military tech stock Kratos gained 2%. — CNBC's Alex Harring, Jesse Pound, Sarah Min, Christina Cheddar Berk and Michelle Fox contributed reporting.
CNBC
03-06-2025
- Business
- CNBC
Stocks making the biggest moves premarket: Dollar General, Constellation Energy, Pinterest, Hims & Hers Health and more
Check out the companies making headlines before the bell. Dollar General — Shares of the discount retailer popped more than 10% after the company lifted its annual sales outlook, saying its updated guidance assumes that current tariff rates will remain through mid-August. Dollar General also beat on top and bottom lines for the first quarter. The company reported earnings of $1.78 per share on revenue of $10.44 billion, exceeding estimates of $1.48 per share and $10.31 billion, per LSEG. Hims & Hers Health — The telehealth platform added more than 5% after the company said it will acquire European counterpart Zava. The deal will grow Hims & Hers Health's active customer base by about 50%. Constellation Energy — Shares of the energy giant jumped 9% after Meta signed a 20-year agreement to buy nuclear power from Constellation Energy. Meta , which owns Facebook and Instagram, will buy roughly 1.1 gigawatts of energy from Constellation's Clinton Clean Energy Center in Illinois beginning in June 2027. Shares of energy stocks Vistra Energy and NRG Energy rose 5% and 2%, respectively, in sympathy with the news. Bumble — The dating app's stock tumbled 6% on the heels of JPMorgan's downgrade to underweight from neutral. JPMorgan said the stock is losing market share to competitor Hinge. Paramount — The entertainment giant nominated three new directors to its board and scheduled its shareholder meeting for July 2, according to its annual proxy statement published Sunday. Shares of Paramount, which is also in talks to settle an election-interference lawsuit by President Donald Trump against CBS News, slipped more than 1%. Pinterest — Shares popped more than 4%. The move comes after JPMorgan upgraded the image sharing platform to overweight from neutral, saying Pinterest has made progress in its priorities including adding users and improving monetization. JPMorgan hiked the price target to $40 from $35, implying 25% upside from Monday's close. Block — The fintech stock added more than 3% after Evercore ISI upgraded shares to outperform from in line, turning more positive after speaking to Block management about various funding sources across its lending portfolio. Parsons — The defense technology company slashed its fiscal year 2025 revenue outlook, saying the State Department's reorganization has created added uncertainty surrounding a confidential contract. Shares fell 2%. — CNBC's Alex Harring, Sarah Min and Michelle Fox contributed reporting.
CNBC
01-06-2025
- Business
- CNBC
Asia-Pacific markets set to fall after Trump says he plans to double steel tariffs to 50%
People walking through the neon lit night streets of Sinchon in the heart of Seoul, South Korea's vibrant capital city. Fotovoyager | E+ | Getty Images Asia-Pacific markets were set to fall after President Donald Trump told U.S. steelworkers late Friday that he will double tariffs on steel imports to 50% with effect from Wednesday. Japan's benchmark Nikkei 225 was set to open lower, with the futures contract in Chicago at 37,650 while its counterpart in Osaka last traded at 37,680, against the index's last close of 37,965.1. Futures for Hong Kong's Hang Seng index stood at 22,901, lower than its last close of 23,289.77. China, Malaysia and New Zealand markets are closed for the holidays. "We're going to bring it from 25% to 50%, the tariffs on steel into the United States of America," Trump said during remarks at U.S. Steel's Irvin Works in West Mifflin, Pennsylvania, adding that the steep tariffs would "further secure the steel industry." Trump also posted on Truth Social that the steel tariffs will start on June 4. U.S. stock futures fell as Wall Street looks to the start of a new month of trading following a strong performance in May. S&P 500 futures traded down 0.3%, along with Nasdaq-100 futures. Futures tied to the Dow Jones Industrial Average also declined 108 points, or 0.3%. Last Friday, the three major averages closed mixed. The S&P 500 was little changed on Friday to close out a big winning month, inching down by 0.01% to end at 5,911.69. The Nasdaq Composite slid 0.32% to 19,113.77, while the Dow Jones Industrial Average added 54.34 points, or 0.13%, to finish at 42,270.07. — CNBC's Brian Evans and Alex Harring contributed to this report. The S&P 500 finished Friday's rocky session session near flat. The broad index ended slightly below its flatline. The Dow closed up 0.1%, while the Nasdaq Composite ticked down 0.3%. — Alex Harring
CNBC
28-05-2025
- Business
- CNBC
Asia-Pacific markets set to mostly climb as investors await Bank of Korea decision
Hongdae street in Seoul city, South Korea Twenty47studio | Moment | Getty Images Asia-Pacific markets were set to mostly climb Thursday as investors look toward the Bank of Korea decision. Japan's benchmark Nikkei 225 was set to open higher, with the futures contract in Chicago at 38,350 while its counterpart in Osaka last traded at 37,840 against the index's last close of 37,722.4. Futures tied to Australia's S&P/ASX 200 index stood at 8,430, pointing to a higher open than its last close of 8,396.9. Hong Kong markets are poised to slip slightly with futures tied to the Hang Seng index at 23,132, compared to the benchmark's last close of 23,258.31. Investors are expected to keep an eye on the outcome of the Bank of Korea's meeting decision, as well as Asian chip stocks, after Nvidia posted stronger-than-expected earnings and revenue on Wednesday, driven by a 73% year-over-year surge in its data center business. U.S. futures rose Wednesday night, buoyed by a strong earnings report from artificial intelligence heavyweight Nvidia. Futures tied to the S&P 500 rose 0.8%, while Nasdaq 100 futures gained 1.2%. Dow Jones Industrial Average futures added 206 points, or 0.5%. Overnight, the three major stock averages closed lower as investors parsed the latest earnings reports and Federal Reserve meeting minutes. The S&P 500 slid 0.56% to end at 5,888.55, while the Nasdaq Composite shed 0.51% and settled at 19,100.94. The Dow Jones Industrial Average fell 244.95 points, or 0.58%, and closed at 42,098.70. — CNBC's Alex Harring, Sarah Min and Pia Singh contributed to this report The three major indexes concluded Wednesday's session in the red. The Dow and S&P 500 each finished around 0.6% lower. The Nasdaq Composite ended down 0.5%. — Alex Harring
