Here are the top five things investors need to know to start day trading:
1. Smooth sailing
of S&P 500 was down 0.16% on Friday, but still posted a 0.6% gain for the week. The broad market index’s recent gains have come with relatively little volatility. The S&P 500Â has gone 377 days without a 2.05% selloff, the longest stretch for the benchmark since the Great Financial Crisis, according to FactSet data compiled by CNBC. Nasdaq Compositemeanwhile, it ended the week flat, as it said Dow rose 1.45% for its best weekly performance since May. Looking ahead this week, investors will watch for data from the Fed’s preferred inflation gauge to be released on Friday. Follow live market updates.
2. Living wills
Jane Fraser, CEO of Citigroup, attends a hearing on the Annual Oversight of Wall Street Firms before the Senate Committee on Banking, Housing and Urban Affairs in Washington, DC, United States, in December. 6, 2023
Tom Williams | Cq-roll Call, Inc. | Getty Images
Banking regulators said Friday they found weaknesses in the resolution plans, or “living wills,” of four of the eight largest U.S. lenders. Living wills are plans that large financial institutions lay out detailing how they would reliably unwind in the event of distress or failure. Mandated regulatory exercises emerged after the global financial crisis of 2008. Plans from Citigroup, JPMorgan Chase, Goldman Sachs and Bank of America presented in 2023 were insufficient, the Federal Reserve and the Federal Deposit Insurance Corporation. said. They specifically found flaws in the way companies planned to unlock their massive derivatives portfolios. Derivatives are Wall Street contracts linked to stocks, bonds, currencies or interest rates. Of the four, the FDIC said Citigroup had the most serious “deficiency,” meaning its plan would not allow for an orderly resolution under the U.S. bankruptcy code, although the Fed disagreed.
3. Target plus Shopify
Reuters (L) | Getty Images (R)
The aim is shopping for new brands. The big retailer said on Monday that the brands are working with e-commerce companies Shopify can apply to join Target Plus, its third-party marketplace. Target said the partnership will help it find hot items — including smaller or new names — and make them available quickly to online shoppers. The team comes as Target has struggled with growth in recent quarters, including in its e-commerce business, although it said its market has gained momentum. Target has a smaller third-party operation than competitors such as Walmart AND Amazonbut such marketplaces tend to be profitable businesses as retailers receive a share of sellers’ profits and can sell advertising.
4. Nvidia who?
Nvidia CEO Jensen Huang delivers his keynote speech ahead of Computex 2024 in Taipei on June 2, 2024.
Sam Yeh | AFP | Getty Images
It’s a name investors have heard over and over. But off the shelf? Not that much. Nvidia has a valuation of more than $3 trillion and narrowly passed Microsoft last week to become the world’s largest company by market capitalization. But despite its historic rise in valuation, the company doesn’t have much name recognition. In fact, it doesn’t even make the 100 most iconic names on Interbrand’s latest list of most popular brands. Meanwhile, tech giants Apple, Microsoft, Amazon and Google were the top four global brands at the end of 2023. In particular, Nvidia’s rapid ascent in markets has been fueled by demand for artificial intelligence chips, mostly from a small and very large corporate buyers.
5. Drink this
Photo illustration by Emily Rabbideau – Photos courtesy of House of Love and Gay Water
The classic vodka soda has become the drink of choice and a cultural symbol for some gay men. Now, others are catching on. Its status in the modern LGBTQ+ zeitgeist has attracted the entrepreneurial attention of local bar owners and canned cocktail makers, among others. “It’s something you see everywhere,” said Lucas Hilderbrand, a professor of film and media studies at the University of California, Irvine. Big names like Boston Beer’s Truly brand and Kylie Jenner’s Sprinter line are jumping on the canned vodka soda trend, as is World of Wonder, the manufacturing company behind the reality competition show “RuPaul’s Drag Race,” which launched a “citrus vodka soda” canned cocktail earlier this year. Smaller startups like Gay Water, which was founded in July, also hope to stake their claim in the aisles and represent LGBTQ+ customers in stores.
CNBC’s Samantha Subin, Brian Evans, Hugh Son, Melissa Repko, Kif Leswing and Alex Harring contributed to this report.
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