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What is likely to move the market

What is likely to move the market

Traders work on the floor of the New York Stock Exchange during morning trading on August 20, 2024 in New York City.

Michael M. Santiago |

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Here’s what CNBC TV producers were watching as the stock market rally paused on Tuesday, and what’s on the radar for the next session.

Elliott Management

  • On Wednesday, CNBC’s Leslie Picker will discuss in detail some of Elliott Management’s recent activist campaigns.
  • The company has become perhaps the most active activist with several major investments in recent months.
  • On May 28, we learned that Elliott in Texas InstrumentsThe stock has risen 1.7% since then.
  • On June 10, we learned that Elliott Management had Southwest Airlines and that the investor was pushing for a price correction. The stock has since fallen by 4.4%.
  • On July 19, we learned that Elliott Management had acquired a stake in Starbucks. The stock has risen 16% since then. However, the coffee company also hired Brian Niccol as its new CEO, which likely accounts for most of the price increase. On August 13, the day Starbucks announced that Niccol would take the helm, the stock rose nearly 25%.
  • The dates above indicate when we learned about the investments. Elliott’s positions may have increased or decreased more since he began purchasing the stocks listed.
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Starbucks performance since the beginning of the year

The triumph of the S&P 500

Reach heights

  • Netflix reached an all-time high on Tuesday. The stock went public in May 2002. Netflix has risen 73% in one year. In one week it is up almost 8%.
  • Walmart also reached a new all-time high. The stock was listed in August 1972 – 52 years ago. The stock has risen by 9.4% in the last week.
  • Eli Lilly hit an all-time high on Tuesday. The stock went public in 1952. Lilly is up 63% for 2024 and 18% in August.
  • Thanks to Chris Hayes, data team contributor at CNBC, for bringing us all these numbers.
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Eli Lilly in 2024

Goal

  • The retail giant reports on Wednesday morning.
  • The stock has fallen by almost 8% in the last three months.
  • Goal is 20.6% above the peak in April.

Macy’s

  • The shopping giant will publish its quarterly figures on Wednesday before the stock market closes.
  • Macy’s has fallen by 7% in the last three months.
  • The share price is 20% below its March high.
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Macy’s performance last year

TJX

  • This retail report was released on Wednesday morning before the market opened.
  • The stock has risen 16% in the last three months.
  • TJX is just below the peak of July 12.

Snowflake

  • This data cloud company reports on Wednesday after the stock market closes.
  • The stock is 44.5% below its 52-week high in February.
  • Snowflake has risen by almost 4% within a week.

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