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Tuesday’s big stock stories: What’s likely to move the market in the next trading session
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 14, 2024. REUTERS/Brendan McDermid Brendan Mcdermid | Reuters 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 […]
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‘We haven’t seen the bottom in this correction’: Dan Niles names 2 tech stocks to ride out a potential recession
Hedge fund manager Dan Niles is betting on Apple and Meta Platforms as two stocks that can ride out a potential U.S. recession. Niles, who runs an actively managed fund of 20 to 40 large-cap U.S. stocks at Niles Investment Management , stressed that while a recession is not his base case scenario, investors should […]
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Market sell-off won’t last for one key reason, CIO says: There’s no tech bubble to burst
Global markets are cautiously rebounding from an early-August rout — and one asset manager says there’s no need to fear a burst tech bubble causing a persistent downturn. Technology stocks were among the hardest-hit by the recent sell-off, as declines of 1.6% in July and more than 4% so far in August for Wall Street’s tech-dominated […]
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On paper the stock market should be great, not on a knife’s edge. But that’s the opportunity
When I look at Thursday’s rally, I am beginning to realize that we have become so binary and so up close that we have lost our ability to think about what matters. The big fish data got caught among the minnow minutiae and we ended up with ridiculous rallies that are, therefore, based on nothing. […]
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The rise of OpenAI and Microsoft’s $13 billion bet on the AI startup
OpenAI, the company behind the ChatGPT chatbot, was founded in 2015 by a number of researchers, academics and entrepreneurs, including Sam Altman, Greg Brockman and Elon Musk. Altman and Brockman are still at OpenAI, serving as CEO and president, respectively. Musk departed in 2018. At the time, OpenAI said Musk left to avoid a conflict […]
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This tech stock may hold the key to the market — and it’s not Nvidia
A stock that’s done nothing since early February could be the key to the stock market’s fate. That stock is Meta Platforms (META) . Way back on February 2nd, META gapped to new all-time highs post earnings and continued making new highs for two more months. It then gapped lower in April (again after earnings), pivoted, […]
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As disinformation spreads during UK riots, regulators are currently powerless to take action
Kirill Kudryavtsev | AFP | Getty Images LONDON — Ofcom, the U.K.’s media regulator, was chosen last year by the government as the regulator in charge of policing harmful and illegal content on the internet under strict new online safety regulations. But even as online disinformation related to stabbings in the U.K. has led to […]
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‘Mag 7’ stocks are cheap and a buy after sell-off as long as no recession, Morgan Stanley says
Stocks tried to claw back some gains on Wednesday, but the morning’s rally fizzled as Nvidia and other megacap technology stocks sold off in the afternoon. Nvidia shares ended the day down 5.1%, while Tesla tumbled 4.4%. Meta Platforms shed about 1.1%, while Microsoft slipped 0.3%. All told, the tech-heavy Nasdaq Composite closed down 1.1% […]
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Elon Musk ‘accountable to no one,’ Britain’s tech minister says after X owner’s comments on UK riots
Harun Ozalp | Anadolu Agency | Getty Images Elon Musk is “the one person who is accountable to no one” and his impact on public discourse should not be underestimated, the U.K.’s technology minister said in an interview with the Times newspaper, adding to recent criticisms of the technology billionaire from senior government officials. Peter […]
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CNBC Daily Open: Market correction may not be over yet
Traders work on the floor of the New York Stock Exchange during morning trading on August 06, 2024 in New York City. Michael M. Santiago | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no […]
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