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[ad_1] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 13, 2024.  Brendan McDermid | Reuters U.S. stock futures inched higher on Wednesday night as traders looked ahead to another inflation reading. Dow Jones Industrial Average futures rose 32 points, or less than 0.1%. S&P 500 futures advanced 0.1%, and Nasdaq 100 futures climbed 0.2%. In after-hours action, trading platform Robinhood popped 10% after the company reported a 16% increase in assets under custody in February from the prior month. Troubled electric vehicle startup Fisker tumbled 46% after The Wall Street Journal reported that the company has hired restructuring advisors to prepare for a potential bankruptcy filing. These moves come after the major stock indexes ended Wednesday's session with mixed activity. A sharp decline in the technology sector — particularly as Nvidia dropped 1.1% — pulled the S&P 500 and the Nasdaq Composite lower, with the two b

[ad_1] Jimmy Butler #22 of the Miami Heat dribbles against Jamal Murray #27 of the Denver Nuggets during the fourth quarter in Game Five of the 2023 NBA Finals at Ball Arena on June 12, 2023 in Denver, Colorado. Justin Edmonds | Getty Images Sport | Getty Images The National Basketball Association's upcoming decision on which companies will acquire the TV and streaming rights for its live games could transform the entire media industry. Based on preliminary discussions between media executives and league officials, Comcast 's NBCUniversal, Google 's YouTube TV, Amazon , Apple and even Netflix may challenge or join the incumbents as rights holders, according to people familiar with the matter, who asked not to be named because the discussions are private. Spokespeople at NBCUniversal, YouTube, Amazon, Apple and Netflix declined to comment. Every media rights renewal for the NBA is an important event because it only happens about once a decade. The last rights deal was

[ad_1] Rep. Mike Gallagher (R-WI) (C), chair of the House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party, joins Rep. Elise Stefanik (R-NY) (L) and Majority Whip Steve Scalise (R-LA) for a news conference following a GOP caucus meeting at the Republican National Committee offices on Capitol Hill on February 28, 2023 in Washington, DC. Chip Somodevilla | Getty Images A group of lawmakers will travel to California to meet with tech and media executives, including Apple CEO Tim Cook and Disney CEO Bob Iger, to discuss China-related topics, CNBC has confirmed. Nearly a dozen lawmakers representing both parties on the House Select Committee on the Chinese Communist Party are set to make the three-day trip, led by Chair Mike Gallagher, R-Wis., a spokesperson for the committee told CNBC. Bloomberg and Axios previously reported details of the trip. The trip highlights how the committee's work could affect the tech and media i

[ad_1] The extraordinary activist-investor interest in Salesforce (CRM) eased further in the second quarter, according to the latest regulatory filings from influential Wall Street pros. These big-name investors also made moves in nine other Club stocks during a strong three-month stretch that ended the best first half for the market in years. Starting with Salesforce, Dan Loeb's Third Point shed its stake in the second quarter. Jeff Smith's Starboard Value — the first known activist to target the enterprise software giant — cut its stake by 21% in the three months ended June 30. Those sales are among the Club-related trades revealed this week by the latest batch of securities filings known as 13Fs. Submitted to U.S. regulators on a quarterly basis, these disclosures offer a look — albeit with some limitations — into the investment decisions that closely followed Wall Street pros have made. CRM .SPX YTD mountain Salesforce's year-to-date stock performance, in compariso

[ad_1] Exchange-traded funds can still compete in today's "stock picker's" market, according to a top investor. "A lot of money is moving into active ETFs, because it provides the benefits that you have from active management [or] from stock picking … but also all the tax benefits and cost benefits that you have in an ETF," Avantis Investors Chief Investment Officer Eduardo Repetto told CNBC's " ETF Edge " last week. He predicts actively managed ETFs will continue to gain traction through the second half of the year. "We used to only have index ETFs," Repetto noted. However, he emphasized this has changed over the past three years as the number of actively managed ETFs has grown. Repetto's firm is behind the Avantis U.S. Equity ETF , an actively managed portfolio of U.S. stocks. Its website shows the fund's top holdings are Apple, Microsoft , Amazon , Meta Platforms and Alphabet . As of Friday, the ETF is up 12% this ye

[ad_1] Traders on the floor of the NYSE, Oct. 21, 2022. Source: NYSE Stocks rose Friday as strong earnings results from some of the biggest banks and companies kicked off earnings season. The Dow Jones Industrial Average rose 121 points, or 0.3%. The S&P 500 ticked up about 0.1%, and the Nasdaq Composite advanced 0.2%. Wall Street is coming off its fourth consecutive day of gains, with the Nasdaq and S&P 500 reaching their highest levels since April 2022. JPMorgan Chase rose 0.3% after its second-quarter earnings topped expectations. The bank was boosted by higher interest rates and rising interest income. Wells Fargo also gained 0.5% on the back of better-than-expected results. UnitedHealth shares jumped 8% after the insurance giant reported better-than-expected earnings and revenue. The company also raised the lower end of its full-year earnings guidance. "What we've seen simple out of out of big bank earnings, especially JPMorgan, is pretty resilient,&qu

[ad_1] A man wearing a mask walks past a Nvidia logo in Taipei, Taiwan. Sopa Images | Lightrocket | Getty Images Chipmaker Nvidia will invest $50 million in Recursion Pharmaceuticals to speed up the development of the biotech firm's artificial intelligence models for drug discovery, the companies said Wednesday.  Recursion's stock soared 80% following the announcement. Shares of Nvidia, which have helped fuel stock market gains this year amid hopes about its AI computing chips , rose more than 2%.  Recursion uses AI-powered models to identify and design new therapies, and offers those models to other drugmakers, including Roche and Bayer. Salt Lake City, Utah-based Recursion will use its biological and chemical datasets exceeding 23,000 terabytes to train its AI models on Nvidia's cloud platform. AI models usually require vast amounts of data, typically measured in terabytes, to train them. Nvidia can then potentially license those AI models on BioNeMo, the compan

[ad_1] Google was working on an AI-powered mobile chatbot app for Gen Z users that features interactive digital characters, CNBC has learned. However, the company recently "deprioritized" those efforts amid an internal reorganization, according to materials seen by CNBC. Typically, when a product is deprioritized at Google, work on it ceases. Called "Bubble Characters," the app featured a choice of a talking digital character that would interact in conversations with Gen Z users, according to internal documentation viewed by CNBC. The company had been working on it since Q4 2021. Google declined comment to CNBC. The app's description states that it featured "human-like" conversations that "take action" and are "interesting for GenZ." The conversations were powered by large language models, which are massive data sets used to understand and generate human-like text. "What started out as something from a science fiction nov

[ad_1] Amazon CEO Andy Jassy doesn't believe the retail and cloud computing giant should be counted out of the artificial intelligence race just yet. In a wide-ranging interview with CNBC, Jassy challenged the notion that Amazon has fallen behind in AI as Microsoft and Google add chatbots to consumer products like their search engines, likening it to the "hype cycle" before the "substance cycle." "I think most people are focused on the applications, you know, things like ChatGPT brought everybody's awareness up, but I think of generative AI as having three macro layers," Jassy told Jon Fortt in an interview that aired on "Closing Bell Overtime" late Thursday. "I think they're all really big and important." Jassy has said Amazon intends to invest in AI across the company, and that AI programs have the potential to improve "virtually every customer experience." But he specifically pointed to Amazon Web Servi