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43 Mins Ago
Hybe shares slide over 4% even as all members of BTS renew contracts
Shares of K-pop agency Hybe slid over 4% in early trade even as the company reported that all members of boy group BTS have renewed their contracts with Bighit Music, a subsidiary of Hybe.
The share price drop is largely in line with the decline in the broader Kospi index, which fell 1.07% on Thursday.
The seven member boy group debuted in 2013, and all renewed their contracts in October 2018. While the label did not announce when the new contract will end, South Korean media cited a Hybe statement saying “all of BTS will be together after 2025.”
— Lim Hui Jie
50 Mins Ago
CNBC Pro: ‘Relentless pursuit of eyeballs’: Analysts name China internet stocks to buy — giving 2 over 50% upside
Several stocks are set to benefit from the “relentless pursuit of eyeballs” in the Chinese internet sector, according to analysts at asset management firm AllianceBernstein.
“We’re now seeing e-commerce related activity pick up on media platforms hitherto less associated with online retail,” they said in a Sept. 15 note.
CNBC Pro subscribers can read more here.
— Amala Balakrishner
7 Hours Ago
Fed leaves rates unchanged, expects one more hike this year
The Federal Reserve left interest rates unchanged at the conclusion of its two-day meeting Wednesday.
However, the central bank signaled it still expects one more hike before the end of the year and fewer cuts than previously indicated next year. The final increase, if realized, would be the last in this cycle, according to the Fed’s projections.
— Jeff Cox, Michelle Fox
51 Mins Ago
CNBC Pro: Cathie Wood is a fan of this AI company, and says the ‘AI revolution’ will ‘change everything’
Cathie Wood says a U.K.-founded company is “one of the best AI companies in the world.”
The founder and CEO of Ark Invest said Wednesday added that the “AI revolution is upon us and is going to change everything” despite fears that there will be a repeat of the dotcom bubble bust in the 1990s.
CNBC Pro subscribers can read more here.
— Weizhen Tan
51 Mins Ago
CNBC Pro: ‘Incredibly compelling’: The pros love small-cap stocks right now. Here are their top picks
The conditions are right for buying small-cap names, according to many analysts and investors.
CNBC Pro takes a look at five such stocks, including two on a “high conviction” list.
Subscribers can read more here.
— Weizhen Tan
6 Hours Ago
Notable shift in interest rate markets pushes out first 2024 rate cut by Fed
The probability that the Fed will cut interest rates early in 2024 is seen as increasingly unlikely, based on 30-Day Fed Funds futures pricing data in the CME’s FedWatch tool.
One month ago, the chance that the Fed would cut a quarter point to 5.0-5.25% in January stood at more than 21% — today it’s less than 1%.
One month ago, the odds of a quarter point reduction by the March 2024 meeting were 34.2% and the chance of a half-point reduction was 10.2%. Today, pricing data shows those odds have fallen to 9.5% and 0.1%, respectively.
— Scott Schnipper
6 Hours Ago
Dow joins other indexes at session lows
The Dow joined the other two major indexes in trading at sessions lows as Federal Reserve Chair Powell spoke. It has been a mainly positive day, with the session low still placing the blue-chip average around 0.1% up on the day.
— Alex Harring
5 Hours Ago
Nvidia extends month-to-date loss to 13.1% and decline since 52-week high to almost 15%
Nvidia — the best performing stock in the S&P 500 in 2023 — extended its month-to-date loss to 13.1% in the wake of the Federal Reserve suggesting that interest rates will stay higher for longer.
Since reaching an all-time high on Aug. 24, 2023, Nvidia has now fallen 14.7%.
In late day trading Wednesday, Nvidia is ahead 194% in 2023. At the August high, Nvidia had climbed 244%.
— Scott Schnipper
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