Are the markets extremely positive? – NBC Chicago

This file is from today’s CNBC Day-to-Day Observables, our global markets publication. CNBC’s Day-to-Day Observables tells shoppers everything they need to know, no matter where they are. Like what did you see? you will be able to subscribe right here,

What do you want to understand these days

marketplace file highest
The S&P 500 and Nasdaq Composite ended the consultation at all-time highs as buyers waited for inflation data to evaluate the US financial coverage path. Apple continued its winning streak with a record 5th consecutive win and Nvidia also saw gains. Alternatively, the Dow Jones Commercial Average declined somewhat. There was little change in the 10-year Treasury yield, as US oil prices fell due to the landfall of Tropical Storm Beryl.

elliot proxy conflict blackmail
Activist investor Elliott Controls has threatened a proxy fight with Southwest Airways unless its board votes yes to a barter management adjustment. Elliott wants to oust CEO Bob Jordan and government chairman Gary Kelly, citing poor performance and cultural problems. The investor claims that the board’s recent moves, including adopting a poison pill and expanding the board, are “infiltration moves”. Finding time to cooperate, Elliott plans to offer shareholders a role in management adjustments if the board is left unresponsive.

Corning’s AI Pop
Corning’s reserves rose 12% on Monday, its biggest jump since March 2020, coming closest to the company’s second-quarter forecast. Corning attributed the expansion to increased demand for its optic connectivity products, which back up generator AI networks. Corning CEO Wendell Weeks noted on CNBC’s “Squawk Box,” “We used new fibers, new cables, new connectors and new custom integrated optical solutions to dramatically reduce installation costs, overall time and space, and carbon footprint. Has invented.”

Germany’s Bitcoin sold
The German government is promoting the value of Bitcoin to the tune of millions of dollars, driving down the cryptocurrency’s current price. Police in the eastern German region of Saxony seized about 50,000 bitcoins in mid-January, worth about $2.2 billion at the date of the seizure. Despite selling $379 million worth of bitcoins in recent weeks, Germany’s Federal Criminal Police Administrative Center still holds about 32,488 bitcoins – worth about $1.9 billion at today’s prices.

Boeing appeals to do business
Boeing has agreed to be accused of legal fraud when it comes to the devastating 737 Max crashes. Pending good faith in court, Boeing will be declared a criminal but will be allowed to avoid trial, the petition said. The company will likely pay a fine of $243.6 million and feature a separate compliance track to monitor its operations for three years. The punishment could affect Boeing’s ability to sell goods to the United States government, although it would seek immunity.

(Pro) Beryl’s Chance
The arrival of Tropical Storm Beryl in Texas has heightened concerns about the next hurricane season, prompting Wall Street analysts to examine the insurance stocks most likely to be at risk for losses from the week’s storm.

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As the S&P 500 continues to surge, reaching its 35th record top this year, John Stoltzfus, chief investment strategist at Oppenheimer, has raised his S&P 500 target to 5,900 – second best on Wall Side Road. But, a way to give warning is being prepared. Goldman Sachs dealer Scott Rubner is on alert for a market correction. They believe that the market, along with them, is overwhelmingly positive.

Rubner has not been abandoned in his views. Traders are increasingly surprised at how big investments are being made in synthetic intelligence. Roger McNamee, managing director of Elevation Partners, warned that investors would likely want to find a “safe place to land” because the end use of AI would not justify the investment.

McNamee noted, “I think Microsoft is investing about $10 billion a month in data centers and the industry is investing about $15 billion. We need about $600 million to justify this amount of investment. “Dollar revenues are needed.” ,

“We’re making assumptions about what this technology can do, which we haven’t proven, and we’re applying it in places where it might not work. If that’s true, then the hysteria is over.” “That’s going to happen, and there’s going to be huge impacts on all the biggest stocks, the S&P 500.”

Ed Yardeni, president of Yardeni Analysis, described the market as a “slow melt.” Traders Yardeni said it appears the Fed will hold interest rates temporarily lower if the economy slows significantly or enters a recession.

This future could be trading in additional readability available on the market’s path, with Fed Chair Jerome Powell set to testify before Congress on Tuesday and Wednesday, and a key inflation update coming up on Thursday, which will likely pique interest. May affect rate expectations.

Former Dallas Fed President Robert Kaplan expects the Fed to lower rates in September.

“If I were sitting in my former seat, I would be getting ready to cut rates in September,” Kaplan noted Monday on CNBC’s “Squawk Box.” “I wouldn’t make any commitments between now and then, but I think they are in a position to cut rates in September, and they will consider it one meeting at a time.”

— CNBC’s Jeff Cox, Brian Evans, Piya Singh, Scott Schnipper, Leslie Joseph, Katie Bartlett, Ryan Brown, Fred Imbert, Spencer Kimball and Rohan Goswami contributed to this file.