5 Mins Ago
Stocks on the move in Europe: H&M up 8% on strong earnings, Endesa down 8%
H&M shares jumped 8.5% in early trade to lead the pan-European Stoxx 600 index after the Swedish fashion retailer posted stronger-than-expected profits for the March to May period, and said third-quarter sales had also started well.
At the bottom of the European blue chip index, Spanish electric utility Endesa dropped 8%.
– Elliot Smith
9 Mins Ago
European markets little changed at the open
The pan-European Stoxx 600 index hovered around the flatline shortly after markets opened, with retail stocks adding 1.2% to lead gains while travel and leisure stocks fell 0.5%.
– Elliot Smith
An Hour Ago
European markets: Here are the opening calls
Europe markets were set for a mixed open Thursday, according to data from ig.com.
The FTSE 100 was seen opening 3.8 points lower at 7496.7, while Germany’s DAX was on course for a 6.5 point dip to 15,948.4, and Italy’s FTSE MIB for a 26 point fall to 27,736. France’s CAC was seen 2.8 points higher at 7,292.
— Jenni Reid
8 Hours Ago
S&P 500 and Nasdaq Composite on pace for four straight months of gains
The S&P 500 and the Nasdaq Composite are about to end June with flying colors.
The broad-market index is up 4.7% this month, while the tech-heavy benchmark has a gain of more than 5%. That marks the fourth consecutive winning month for both averages. It’s also the longest monthly streak of gains for both the S&P 500 and the Nasdaq Composite since 2021.
The tech sector boosted the S&P 500, rising 4.5% in June, but consumer discretionary also buoyed the index. That sector added 10.4%, courtesy of Carnival, Norwegian Cruise Line and Royal Caribbean. Each of the three travel stocks are on track for double-digit gains in June, according to FactSet.
The Nasdaq-100 is also on pace for a fourth straight winning month, up 4.9% in June. The index last accomplished this feat in 2020.
–Darla Mercado, Chris Hayes
6 Hours Ago
CNBC Pro: These two globally competitive food delivery stocks will soar 120%, says RBC
Shares of two online food delivery companies are expected to soar by 120% over the next 12 months, according to RBC Capital.
The investment bank’s analysts said the increasing cost of online food ordering was an indication of food delivery providers prioritizing profitability over growth, a change that makes sense considering the current trend of online ordering “normalizing”.
CNBC Pro subscribers can read more here.
— Ganesh Rao
6 Hours Ago
CNBC Pro: These stocks raised dividends for the last 5 years, with 2 offering more than 10% yield
While the inflation rate has begun to cool slightly, it could still prove to be stickier than expected.
CNBC Pro screened for stocks to beat those still-rising prices, with at least a 5% dividend yield, and further potential upside of more than 20%.
These five stocks showed up, two with more than 10% dividend yield.
CNBC Pro subscribers can read more here.
— Weizhen Tan
8 Hours Ago
23 biggest banks passed the Fed’s stress test
All 23 of the U.S. banks included in the Federal Reserve’s annual stress test weathered a severe recession scenario while continuing to lend to consumers and corporations, the regulator said Wednesday.
The banks were able to maintain minimum capital levels, despite $541 billion in projected losses for the group, the Fed said in a release. Banks including JPMorgan Chase and Wells Fargo are expected to disclose updated plans for buybacks and dividends Friday after the close of regular trading.
— Hugh Son
