2 Hours Ago
CNBC Pro: Is it time for investors to hedge for a market decline? The pros share their views and strategies
3 Hours Ago
CNBC Pro: Now that Nvidia’s launched powerful AI chips, Goldman expects these 3 stocks to get a boost
In the wake of Nvidia’s launch of powerful new artificial intelligence chips, Goldman Sachs is predicting major growth for memory chips used in AI systems.
The investment bank expects the total addressable market for HBM to expand tenfold to $23 billion by 2026, up from just $2.3 billion in 2022.
The Wall Street bank sees three major memory makers as prime beneficiaries of the booming HBM market. Investors can buy three stocks through concentrated exchange-traded funds or diversified funds.
CNBC Pro subscribers can read more here.
—Ganesh Rao
6 Hours Ago
Stocks close higher
The S&P 500 and Dow Jones Industrial Average both closed higher Wednesday, snapping a three-session losing streak.
The broader market index rose 0.86% to settle at 5,248.49. The 30-stock Dow gained 1.22%, or 477.75 points, and finished at 39,760.08. The tech-heavy Nasdaq Composite was the trailing index, coming in with a rise of 0.51% to close at 16,399.52.
—Lisa Kailai Han
6 Hours Ago
Apple underperforming S&P 500 by widest margin since October 2013, according to Bespoke
Waning China sales and a lack of a clear artificial intelligence story have dragged shares of Apple down so far this year.
The “Magnificent Seven” darling, which soared an eye-watering 48% last year, has retreated 12% in 2024. The 200-day performance spread of Apple versus the S&P 500 has not looked this wide since October 2013, according to a https://twitter.com/bespokeinvest/status/1772971746276032829 from Bespoke Investment Group.
Bespoke noted that the market can rally without Apple, but it is rare. The S&P 500’s median change was a loss of 9.3% during periods when Apple declined over a 200-day trading window.
—Lisa Kailai Han
7 Hours Ago
Oil prices slip on US crude stockpile increase
Crude oil futures fell for a second day Wednesday as US crude stockpiles rose.
The West Texas Intermediate contract for May delivery fell 27 cents, or 0.33%, to settle at $81.35 a barrel Wednesday. The Brent contract for May delivery dropped 16 cents, or 0.19%, to $86.09 a barrel.
US commercial crude stockpiles, which exclude the strategic petroleum reserve, rose by 3.2 million barrels for the week ending March 22, according to the Energy Information Administration. Gasoline inventories rose by 1.3 million barrels.
—Spencer Kimball
