1 hour ago
Japan reportedly intervened to support the yen.A senior currency official declined to comment.
The Wall Street Journal reported late Monday that the yen’s fluctuations were due to intervention by the Japanese authorities.
WSJ, citing people familiar with the matter, reported that Japan intervened to support the yen by selling dollars and buying yen.
The currency had fallen to a 34-year low of $160.03 against the dollar, but suddenly rose to around $155.
Japan’s top currency diplomat, Masato Kanda, declined to comment on whether the Ministry of Finance had intervened, adding that authorities were ready to respond “around the clock” to currency issues, Reuters reported on Tuesday.
— Lim Huijie
1 hour ago
CNBC Pro: Dividends and share buybacks are in the spotlight.Goldman Sachs announces names of global stocks with themes
Goldman Sachs said its balance sheet “looks healthy,” its cash flow generation is “attractive,” and its dividend and share buybacks are resilient.
“Shareholder returns are poised to reach record highs,” the bank said in an April 23 note.
But not all stocks that offer buybacks or dividends are the same, Goldman said.
He emphasized the stock buyback basket as part of his diversification strategy. Goldman says the basket delivers high single-digit yields of about 4% on buybacks and 4% on dividends, with a sector breakdown as close to the market as possible.
CNBC Pro subscribers can read more here.
— Tan Weizhen
1 hour ago
CNBC Pro: This emerging markets fund has outperformed over one, five, and 10 years.Here’s how to do it
5 hours ago
Bank of America announces good news for the stock market in the coming week
Bank of America sees good news for stocks over the coming week, with risks skewed to the upside.
“Our economists see no signs of stagflation and expect continued manufacturing recovery and strong employment growth, which should be positive for stocks,” strategist Ohsung Kwon said in a note on Monday. ” he said.
Kwon elaborated that this week’s manufacturing report should show that the manufacturing recession is over. Furthermore, Friday’s April jobs report is also likely to show strength, with “little signs of slowing labor market momentum,” the strategist noted.
— Lisa Kailai Han
6 hours ago
16 S&P 500 Index constituents set new 52-week highs
Chipolte Restaurant in Manhattan, New York City, February 6, 2024. Chipotle Mexican Grill (CMG) will report fourth-quarter and full-year results late Tuesday.
Spencer Pratt | Getty Images
In Monday’s trading, 16 stocks in the S&P 500 set new 52-week highs.
Nine of these stocks hit new highs. These include:
- Chipotle Mexican Grill is trading at its highest level ever since its initial public offering in January 2006
- Royal Caribbean is trading at its highest level since its April 1993 IPO.
- Tractor Supply was taken private in 1982 through an LBO and traded at record high prices until its IPO in 1994.
- Goldman Sachs is trading at its highest level since its May 1999 IPO
- Carrier Global trade hits record high since its separation from United Technologies in March 2020
- Leidos Holdings is trading at record high levels since SAIC IPO in October 2006
- Trane Technologies has traded at all-time high levels throughout Ingersoll Rand’s history until its recent merger with Gardner Denver
- Veralto will be spun off from Danaher in October 2023 and trade at record high price
- Amphenol is trading at its highest level ever since its 1991 IPO
— Lisa Kailai Han, Christopher Hayes
8 hours ago
Oil prices fall by more than 1% as US re-promotes ceasefire in Gaza
Oil field with rigs and pumps at sunset.
Anton Petrus | Moments | Getty Images
Oil futures fell $1 on Monday after the US Secretary of State renewed diplomatic pressure in the Middle East to secure a ceasefire in Gaza and prevent an Israeli attack on Rafah.
A successful ceasefire agreement could further ease the geopolitical risk premium priced into oil prices due to concerns that the Gaza war could spark a broader conflict in the Middle East that disrupts oil supplies. expensive.
West Texas Intermediate futures fell $1.15, or 1.37%, to $82.70 a barrel. Brent futures fell $1.15, or 1.28%, to $88.35 per barrel. U.S. crude oil and global benchmarks have risen more than 14% this year.
— Spencer Kimball
