Bitcoin has become an institutionalized macro asset, says Galaxy Digital CEO Mike Novogratz
CNBC's 'Power Lunch' is joined by Mike Novogratz, founder and CEO of Galaxy Digital, to discuss the U.S. dollar, cryptocurrencies and more.
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CNBC
34 minutes ago
- CNBC
What the charts say about oil's next move, according to Carter Worth
The news-related spike in oil leaves WTI crude at a difficult level where overhead supply comes into play. As seen in the chart below, oil has advanced from $55 a barrel to $77 a barrel (plus $22 a barrel... +40%), and is now back up "to the penny" to the well-defined downtrend line of the past 12 months. If one is long, we would harvest/take profits/sell calls/take measures of some kind. And for those who engage in shorting, we would sell here. (Check out Carter's for actionable recommendations and live nightly videos.) DISCLOSURES: (None) All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.
Yahoo
an hour ago
- Yahoo
S&P 500 ETFs Hover Near Record Highs: 5 Stocks Aiding the Rally
The S&P 500 closed above 6,000 points on June 6, marking its first close above that level since February. As of June 12, the index stood at 6,045.26, somewhat below the all-time high reached earlier this year. The rally continues to push major indexes back toward record highs, following several weeks of pressure due to trade tensions. The SPDR S&P 500 ETF Trust SPY has gained about 3.3% year-to-date and is up 2.9% over the past month. The U.S. stock market has rebounded in recent weeks as investor worries over Trump's proposed tariffs have diminished, while corporate earnings and economic indicators have remained solid. Note that the S&P 500 recorded the strongest monthly performance in May since late 2023. Consumer prices in the United States rose modestly in May, indicating that President Donald Trump's tariffs have not yet had a significant impact on inflation. The Consumer Price Index (CPI) increased by just 0.1% in May, falling short of the 0.2% monthly increase forecasted by a Dow Jones survey, as quoted on CNBC. This puts the annual inflation rate at 2.4%, matching economists' expectations for the year. This kind of soft inflation data may help the Fed to cut rates in the near term and boost stocks (read: Sector ETFs Likely to Gain on May Inflation Data). Talks aimed at easing tensions between the United States and China have concluded with what President Donald Trump described as a "deal." According to Trump, China has agreed to supply U.S. companies with magnets and rare earth metals—key materials in the technology and defense sectors. In return, the United States will withdraw its threats to revoke visas for Chinese students, a point of disagreement in recent months. Small business owners grew more optimistic in May, reflecting improved expectations for business conditions and sales. The latest data revealed that the small business optimism index climbed to 98.8 in May, up from 95.8 in April. This marked the first rise since September (read: Small Business Optimism Grows: What's Ahead for ETFs?). Despite geopolitical uncertainty and macro headwinds, corporate America delivered better-than-expected first-quarter 2025 earnings. The tech sector, particularly, has shown robust revenue growth, fueled by AI adoption and cloud expansion. Citi analysts lifted their year-end target for the S&P 500 to 6,300. 'Renewed confidence in the AI-related opportunity" and "improved earnings growth expectations" headed into next year have been held responsible for the bullish revision in the price target. Several banks have recently boosted their own targets. Deutsche Bank also lately lifted its target to 6,550, as quoted on Yahoo Finance. Against this backdrop, below we highlight a few stocks that drove the S&P 500 index. Palantir Technologies PLTR – Up 80.0% YTD Palantir Technologies builds and deploys software platforms for the intelligence community to help in counterterrorism investigations and operations across the United States and internationally. Palantir's software is used in approximately 80 industries globally. The stock hails from top-ranked industry (top 20%) and top-ranked sector (top 44%). NRG Energy NRG – Up 62.8% YTD The company is engaged in the production, sale and delivery of energy and energy products and services to residential, industrial as well as commercial consumers in major competitive power markets in the United States. The stock comes from top-ranked industry (top 26%) and top-ranked sector (top 13%). Howmet Aerospace HWM – Up 54.8% YTD Howmet Aerospace Inc. provides engineered solutions for customers in the transportation and aerospace (both defense and commercial) industries. Notably, it offers forged wheels for commercial use in the transportation industry. It also provides aerospace fastening systems, components used in jet engines and structural parts made of titanium used in defense and aerospace applications. The stock comes from top-ranked industry (top 29%) and top-ranked sector (top 6%). Philip Morris International PM – Up 52.0% YTD The tobacco giant has been expanding in the reduced risk products (RRPs) or smoke-free products category, evident from the success of IQOS (a heating tobacco device) that counts amongst one of the leading RRPs in the industry. The stock belongs to a top-ranked industry (top 11%). GE Aerospace GE – Up 42.4% YTD GE Aerospace (erstwhile General Electric Company) is a leading designer, developer and producer of jet engines, components and integrated systems for military, commercial and business aircraft. The stock comes from top-ranked industry (top 29%) and top-ranked sector (top 6%).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report GE Aerospace (GE) : Free Stock Analysis Report NRG Energy, Inc. (NRG) : Free Stock Analysis Report Philip Morris International Inc. (PM) : Free Stock Analysis Report SPDR S&P 500 ETF (SPY): ETF Research Reports Howmet Aerospace Inc. (HWM) : Free Stock Analysis Report Palantir Technologies Inc. (PLTR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
The deadly 787 Dreamliner crash came at a testing time for Boeing and Air India
An Air India Boeing 787 crashed less than a minute after takeoff on Thursday. The crash comes as both Boeing and Air India are trying to turn themselves around. Attorneys and aviation experts said no conclusions could be drawn until the investigation ended. Thursday's fatal crash of an Air India Boeing 787 shortly after takeoff comes as both the airline and Boeing try to revive their public images. After 2024 became an annus horribilis for Boeing, 2025 is crucial for the planemaker to show it is successfully overhauling its processes. CEO Kelly Ortberg, who took over last year and has made the turnaround the centerpiece of his leadership, has scrapped plans to travel to next week's Paris Air Show, CNBC and Bloomberg reported. The event is a crucial industry showcase. Neither Boeing nor Air India responded to requests for comment from Business Insider. On Thursday, Ortberg shared the company's "deepest condolences" to everyone affected and said a team stood ready to support the investigation. After visiting the crash site Friday morning, Air India CEO Campbell Wilson said in a video statement, "We know that the investigations will take time but we will be fully transparent and will support the process for as long as it takes." "Air India will continue to do everything we can to care for those affected by this tragedy, and to uphold the trust placed in us," he added. When an Alaska Airlines 737 Max lost a door plug during a January 2024 flight, regulators capped Boeing's production of the type. A seven-week strike then shut down key facilities, further hurting revenue. Boeing ended 2024 as the Dow Jones' biggest loser, as its share price fell 31%. Investors had been reassured by Ortberg's work to turn the company around, and the stock had risen more than 20% in 2025 before the crash. It dropped about 4% after Thursday's crash and fell more than 3% Friday morning. Morgan Stanley analysts said Thursday that the crash "derails the positive momentum on Boeing's stock." Jeff Windau, a senior industrials analyst for Edward Jones, said in a research note that he expects near-term volatility and raised the possibility of enhanced scrutiny on Boeing's processes. "However, at this time, we do not feel there will be a long-term impact to production," he added. Following decades of state ownership and huge losses, Air India was acquired by the Tata Group in 2022. The airline has expanded with hundreds of additional flights, flying 60 million customers to 103 destinations through 2024. The new owners invested billions, and the airline has ordered hundreds of planes to replace its aging fleet. In a December interview with BI, Wilson compared his work revitalising Air India to "drinking from a firehose." He added that he thought the turnaround was close to completion, but said there were supply-chain constraints. "Until we upgrade the aircraft, then people won't believe that the transformation has happened," Wilson said. Alan Tan, an aviation law professor at the National University of Singapore, told BI that Air India in particular would have an immediate hit to customer perception. "But as other leading airlines facing crises have shown, these are not insurmountable," he added. "Transparency and accountability in investigations, and consistent messaging to the public, will hopefully reduce the risks of a media spectacle." It will take a thorough and lengthy investigation before there are answers about what caused the crash. Attorneys who have battled Boeing in the courts were among the people BI spoke to who were hesitant to draw any conclusions. "The fact that this tragedy involves a Boeing aircraft does not necessarily mean that there's something wrong with the actual aircraft — as distinguished from issues surrounding maintenance, or even products that are not Boeing's, such as the engines," said Robert Clifford, lead counsel for the families of victims of the 2019 Ethiopian Airlines crash, in which a 737 Max crashed shortly after takeoff, killing more than 150 people. He added that a quick and efficient investigation is necessary to "help calm the public." Thursday's incident was the first fatal crash and total hull loss of a Boeing 787 Dreamliner, one of the most advanced passenger jets, which entered service in 2011. The model has faced some criticism from whistleblowers. Last year, Sam Salehpour, a quality engineer at Boeing, told NBC he observed "shortcuts to reduce bottlenecks" in manufacturing 787s. Boeing responded that it was "fully confident in the 787 Dreamliner." On Thursday, Salehpour's attorneys urged the Federal Aviation Administration to release a report investigating his claims. Richard Aboulafia, managing director at Aerodynamic Advisory, told BI, "It's a terrible tragedy, but I just don't see how this impacts anything [for Boeing]." "Unless it's the unlikely event that they do find a design or manufacturing flaw, but after all these years, both for this type of aircraft and this particular aircraft, that's not normal," he added. Read the original article on Business Insider
