A leading Wall Street strategist is doing some calculations about the total value of U.S. stocks rocketing to a staggering 363% of GDP as of last Friday, blowing past the infamous 212% mark reached during the dotcom bubble. It’s a warning if you think it’s unsustainable, but David Kelly, chief global strategist for JP Morgan…
Traders work on the floor of the New York Stock Exchange. NYSE Stock futures were little changed Tuesday night after the S&P 500 pulled back from record levels, snapping a three-day winning streak. Futures tied to the Dow Jones Industrial Average edged up 18 points, or 0.04%. S&P futures were 0.06% higher, while Nasdaq 100…
(These are the market notes on today’s action by Mike Santoli, CNBC’s Senior Markets Commentator.) Another one of the market’s occasional rethinks of the beloved AI-investment theme strikes some of the heavily owned leaders of the group, pressuring the big-cap indexes but so far sparing the majority of stocks from significant damage. Questions over whether…
Nvidia CEO Jensen Huang told CNBC this week that the chipmaker’s AI infrastructure plan with OpenAI is “monumental in size.” Their plan is so big that it will push the boundaries of what is possible. The chipmaker and the AI lab are aiming to build at least 10 gigawatts of data centers. This will sap…
[The stream is slated to start at 12:35 p.m. ET. CNBC Television will start the stream when the event begins. Please refresh the page if you do not see a player above.] Federal Reserve Chair Jerome Powell speaks Tuesday to the Greater Providence Chamber of Commerce 2025 Economic Outlook Luncheon. This is Powell’s first speech…
Warren Buffett is slated to step down as Berkshire Hathaway’s CEO at year-end—100 days from Sept. 23—setting the stage for successor Greg Abel and Berkshire’s investment lieutenants to potentially keep trimming Apple and rebalance an equity portfolio that’s already been shifting, according to new analysis and prior Fortune reporting. The 100‑day clock Buffett told shareholders…
Our top 10 things to watch Tuesday, Sept. 23 — Matthew J. Belvedere wrote this morning’s newsletter with the help of Jeff Marks. 1. The S & P 500 was relatively flat Tuesday morning following a three-session winning streak. The index closed at a record high Monday, and so did the Nasdaq as tech stocks…
Nurphoto | Nurphoto | Getty Images Major global semiconductor stocks rose on Tuesday after Nvidia announced plans to invest $100 billion in OpenAI. The deal between Nvidia and OpenAI is on a large scale. OpenAI plans to build and deploy Nvidia systems that require 10 gigawatts of power, which is equivalent to 4 million and 5…
Pedestrians crossing street at night in Hong Kong, China Nathan Road Nikada | E+ | Getty Images Taiwan benchmark Taiex rose 1.42% to a record high Tuesday, amid broader gains in Asia, fueled by a tech rally on Wall Street after Nvidia announced a partnership with OpenAI. The index closed at 26,247.37. Australia’s ASX/S&P 200…
Check out the companies making headlines in midday trading : Better Home & Finance Holding — The mortgage lender briefly soared as much as 176% Monday after hedge fund manager Eric Jackson in a social media post on X called Better Home “the Shopify of mortgages” and said the company is rebuilding a $15 trillion…