1 hour ago
US may reportedly take action against Chinese companies and banks for supporting Russia’s war
A senior U.S. official said the United States could join other countries in taking action against Chinese companies and banks over Beijing’s support for Russia’s war in Ukraine, Reuters reported.
“I believe our primary focus is on Chinese companies that have been systematically engaged in providing support to Russia,” Deputy Secretary of State Kurt Campbell reportedly said.
“We looked closely at financial institutions as well,” Campbell said.
Meanwhile, Foreign Minister Campbell met with Chinese Vice Foreign Minister Ma Zhaoxu in Washington on May 30.
— Shreyas Sanyal, Reuters
2 hours ago
CNBC Pro: Goldman Sachs names two global “conviction lists” of stocks and recommends specific trading strategies
Given the “room for near-term volatility in equities,” Goldman Sachs is encouraging investors to consider certain trading strategies when currently trading European markets.
This follows a recent market rally and is expected to prove effective “until inflation momentum weakens further,” the investment bank’s analysts wrote.
Going forward, those looking for investment opportunities in the region and “looking to take a somewhat defensive position” could turn to Goldman’s list of stocks they recommend buying that “have significant relative risk-adjusted upside potential.”
CNBC Pro subscribers can find more details here.
Amala Balakrishner
2 hours ago
CNBC Pro: Berenberg predicts these 5 global banks’ profits will remain high despite ECB rate cuts
Profits at some of Europe’s biggest banks are set to remain strong despite expected interest rate cuts this week, Berenberg said.
One of the bank’s shares could rise more than 40% over the next 12 months, according to the investment bank.
CNBC Pro subscribers can find more details here.
Ganesh Rao
3 hours ago
Nvidia unveils latest AI chip model
Nvidia unveiled its new AI chips on Sunday, ahead of the latest models starting shipping to customers.
The new chip model is called “Rubin.” Nvidia announced its “Blackwell” chip in March. Huang said Sunday that Nvidia plans to release new AI chip models on a “one-year cycle.”
Nvidia’s shares have risen more than 120 points so far this year, even as other well-funded tech companies try to compete with the AI leader.
— Jesse Pound and Rebecca Picciotto
4 hours ago
Major economic reports this week
Here’s some of the economic and corporate news to watch this week. All times are Eastern time.
Monday, June 3
10:00 AM Construction Spending (April)
10:00 AM ISM Manufacturing Index (May)
Tuesday, June 4
JOLTS Jobs at 10AM (April)
Revenue: Hewlett Packard Enterprise, Bath & Body Works
Wednesday, June 5
10:00 AM ISM Services PMI (May)
Profit: Campbell Soup, Dollar Tree
Thursday, June 6
8:30 a.m. Unemployment claims
Revenue: J.M. Smucker Co.
Friday, June 7
8:30am May employment report
— Jesse Pound, Sarah Min
