Nvidia and Best Buy suggested a pandemic-era tech bottleneck is ending. Now we see for sure

Nvidia and Best Buy suggested a pandemic-era tech bottleneck is ending. Now we see for sure

Best Buy Co. BBY, +4.28% Chief Executive Corie Barry said last week she expected the downtrend in tech-product demand to bottom out soon, with a rebound in the second half of the year. Executives for chip maker Nvidia Corp. NVDA, +2.54% said their logjam of products that could not find buyers after a pandemic surge…

The other ‘building block’ stocks, apart from Nvidia, that AI will drive higher.

The other ‘building block’ stocks, apart from Nvidia, that AI will drive higher.

Kneel to your king Wall Street. After forecasting record revenue backed by a “killer AI app,” Nvidia helped deliver a powerful performance for the Nasdaq COMP, +1.71% on Thursday. Indeed, thanks to that chip maker and a few other generals — Microsoft, Apple, Alphabet, etc.— tech is seemingly unstoppable: Top contributors to S&P 500 year-to-date…

Nvidia’s market cap gain is bigger than all of Disney, Netflix, Boeing or Nike

Nvidia’s market cap gain is bigger than all of Disney, Netflix, Boeing or Nike

On Thursday, Nvidia’s stock took an epic jump among the nation’s corporate giants. In one day, the graphics-chip maker total market capitalization added nearly $184 billion – that’s billion with a b. It is one of the biggest one-day market capitalization gains in American corporate history.  Nvidia’s market capitalization was $754.3 billion at the stock…

Five banks unlawfully shared information on bonds, says U.K. regulator

Five banks unlawfully shared information on bonds, says U.K. regulator

The U.K.’s Competition and Markets Authority on Wednesday said it has provisionally found that Citi, Deutsche Bank, HSBC, Morgan Stanley and Royal Bank of Canada broke competition law by exchanging sensitive information on U.K. government bonds in one-to-one online chats. The regulator said the conversations in Bloomberg terminal chats and the alleged unlawful behavior took…

Lowe’s, PacWest, Yelp stocks rally while BJ’s and Zoom Video shares fall, and other stocks on the move

Lowe’s, PacWest, Yelp stocks rally while BJ’s and Zoom Video shares fall, and other stocks on the move

Here are some of the more prominent movers on Tuesday: Stock gainers: Lowe’s Companies Inc.’s stock LOW, +2.18% jumped 1.7% in afternoon trading, after the home improvement retailer beat fiscal first-quarter profit expectations. While same-store sales fell more than forecast, they outperformed rival Home Depot Inc. HD, +1.75%, and the lowered full-year profit guidance range…

U.S. stocks pull back as debt ceiling fears mount

U.S. stocks pull back as debt ceiling fears mount

U.S. stocks slid Tuesday, erasing Monday’s gains, as worries about the debt ceiling negotiations in Washington outweighed data suggesting economic growth remains resilient. How stocks are trading The S&P 500 SPX, -1.00% dropped 37 points, or 0.9%, to 4,154 The Dow Jones Industrial Average DJIA, -0.61% lost 180 points, or 0.5%, to 33,107 The Nasdaq…

What banks must do to increase number of female CEOs, this diversity expert says

What banks must do to increase number of female CEOs, this diversity expert says

Diversity, Equity and Inclusion (DEI) has been one of the key corporate themes of recent years, but female CEOs remain a rarity at America’s largest banks. The issue of C-suite diversity has been thrust into the spotlight following news that James Gorman is planning to step down as CEO of Morgan Stanley MS, +0.04%. Attention…

Megacap tech stocks out of control? Big Tech still has the power to extend the rally and weather an economic storm, analysts say.

Megacap tech stocks out of control? Big Tech still has the power to extend the rally and weather an economic storm, analysts say.

Megacap technology stocks have dominated the U.S. stock market performance this year, powering the Nasdaq Composite to a new nine-month high this week as investors have loaded up on them in a “safe-haven play” on concerns over a potential recession, a federal debt-ceiling breach and more stress in regional banks. The tech-focused Nasdaq-100 index NDX,…

Here’s why Treasury bills are now seen as a ‘reasonable alternative’ to stocks

Here’s why Treasury bills are now seen as a ‘reasonable alternative’ to stocks

For the first time since 2009, the 3-month U.S. Treasury bill rate is now higher than the yield on earnings derived from generally accepted accounting principles for companies in the S&P 500 Index. That’s according to Ed Clissold, chief U.S. strategist, and Thanh Nguyen, senior quantitative analyst, at Ned Davis Research. In a note this…

Morgan Stanley stock dips as CEO James Gorman announces departure within ‘the next 12 months’

Morgan Stanley stock dips as CEO James Gorman announces departure within ‘the next 12 months’

Morgan Stanley’s stock dipped early Friday as CEO James Gorman, speaking at the bank’s annual general shareholder meeting, aired a plan to step down sometime in the next 12 months. He has been in the role since 2010. “The specific timing of the CEO transition has not been determined, but it is the board’s and…

FTX sues Sam Bankman-Fried, seeking to claw back $240 million from Embed deal

FTX sues Sam Bankman-Fried, seeking to claw back $240 million from Embed deal

Failed crypto exchange FTX is suing co-founder and former Chief Executive Sam Bankman-Fried and others, seeking to claw back about $240 million related to the company’s acquisition of stock-trading platform Embed. In a filing Wednesday in U.S. Bankruptcy Court in Delaware, FTX claimed Bankman-Fried and others — including FTX co-founders Zixiao Wang and Nishad Singh…

JPMorgan investor day should ‘reinforce the resiliency’ of the megabank: analyst

JPMorgan investor day should ‘reinforce the resiliency’ of the megabank: analyst

BofA Securities reiterated its buy rating on JPMorgan Chase & Co. ahead of the megabank’s investor day on Monday, calling the bank an outperformer in a tough year for the sector. “We expect Monday’s investor day to reinforce the resiliency of the business model while showcasing franchise investments that should position the bank to remain a…

Ray Dalio: Debt-ceiling fight sets stage for ‘disastrous financial collapse’

Ray Dalio: Debt-ceiling fight sets stage for ‘disastrous financial collapse’

“‘Increasing the debt limit the way Congress and presidents have repeatedly done, and most likely will do this time around, will mean there will be no meaningful limit on the debt. This will eventually lead to a disastrous financial collapse.‘ ” — Ray Dalio, founder, Bridgewater Associates That’s billionaire investor and Bridgewater Associates founder Ray Dalio,…

‘Doomsday machine’: Here’s what could happen if the debt ceiling is breached

‘Doomsday machine’: Here’s what could happen if the debt ceiling is breached

Congress is taking debt-ceiling negotiations uncomfortably near a vague, but fast-approaching deadline that is closely monitored by markets. It’s not clear exactly when that deadline will arrive or exactly what will happen if it does. But from Wall Street to Washington there is fear that the fallout could be very bad.  The debt ceiling is…

NYSE suspends shares of radio-station owner Audacy due to low price

NYSE suspends shares of radio-station owner Audacy due to low price

The New York Stock Exchange suspended Audacy shares Tuesday and will seek delisting proceedings, citing the stock’s low price levels. Audacy shares AUD, -12.52% were down 13% to 9 cents before a mid-afternoon trading halt for pending news. Audacy said in April that it would seek stockholder approval for a reverse split as it sought…

Some brokerage sweep accounts are paying more than 4% on uninvested cash—is this a good place for your savings?

Some brokerage sweep accounts are paying more than 4% on uninvested cash—is this a good place for your savings?

This article is reprinted by permission from NerdWallet. The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. The Federal Reserve has increased its benchmark interest rate nine times…

George Soros bet on railroads, fitness, gig economy and lightened load on Disney, Amazon, dumped Tesla

George Soros bet on railroads, fitness, gig economy and lightened load on Disney, Amazon, dumped Tesla

George Soros’s Soros Fund Management placed new bets on railroads and the gig economy during the first quarter, recalibrated its holdings in a struggling media industry and dumped electric-vehicle maker Tesla Inc. During the first quarter, the fund scooped up 363,483 shares of railroad operator CSX Corp. CSX, +0.09%, according to a filing. The fund…

Robinhood stock rallies after earnings beat, plan to launch 24-hour trading

Robinhood stock rallies after earnings beat, plan to launch 24-hour trading

Shares of Robinhood Markets Inc. moved higher after hours on Wednesday after the trading app reported first-quarter results that were better than expected — even as trading activity remains muted when compared to last year. But in Robinhood’s HOOD latest efforts to reverse that trend with new products — including things like IRAs and forays…

Binance twice pauses bitcoin withdrawals due to ‘large volume’

Binance twice pauses bitcoin withdrawals due to ‘large volume’

Crypto exchange Binance paused bitcoin withdrawals twice Sunday, saying the blockchain was congested by too many pending transactions. “We’ve temporarily closed #BTC withdrawals due to the large volume of pending transactions,” Binance said Sunday night on Twitter. “Our team is currently working on a fix and will reopen $BTC withdrawals as soon as possible. Rest…