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Policymakers at the European Central Bank are split on the need to consider a jumbo half-point interest rate cut in December, even as downside risks dominate on both economic growth and inflation.The comments come shortly after the ECB delivered back-to-back interest rate cuts for the first time in 13 years at its October meeting.The move, which marked the central bank's third quarter-point cut this year, had been fully priced in by markets after decision-makers flagged reduced inflation risks and a weakening growth outlook."The truth is that the print of inflation in September was very low, way lower than what we were expecting," Portuguese central bank chief Mario Centeno told CNBC's Karen Tso on Wednesday."We need to take that into our story," Centeno said. "After that, we need to look ...

A screen displays the trading information for Morgan Stanley on the floor of the New York Stock Exchange (NYSE), January 19, 2022.Brendan McDermid | ReutersMorgan Stanley is expanding the use of OpenAI-powered, generative artificial intelligence tools to its vaunted investment banking and trading division, CNBC has learned.The firm, which launched an AI assistant based on OpenAI's ChatGPT technology to its wealth management advisors in early 2023, began rolling out another version called AskResearchGPT this summer in its institutional securities group, said Katy Huberty, Morgan Stanley's global director of research.The tool lets users extract answers from across the universe of Morgan Stanley's research — including on stocks, commodities, industry trends and regions — collapsing what could...

Stocks are experiencing some turbulence of late, but the longer-term outlook points to sharp gains ahead, according to Piper Sandler. Craig Johnson, the firm's chief market technician, sees the S & P 500 soaring to 6,600 in 2025. That's 12.8% above where the benchmark closed Tuesday. "The old Wall Street adage 'Bull Markets Climb a Wall of Worry' sums up the narrative of this market well," Johnson wrote in a note. "For the past two years, equity markets managed to maintain a steady upward trajectory despite a series of pullbacks/corrections, economic concerns, geopolitical tensions, fears of inflation, rising interest rates and pessimistic headlines." "As this Bull Market enters its third year, the combination of a well-telegraphed shift in Fed policy, normalization of the yield curve ...

Here are the biggest calls on Wall Street on Wednesday: Morgan Stanley reiterates Costco as overweight The firm says membership card scanner rollouts is a "Netflix moment" for Costco. " Costco's ongoing roll-out of membership card scanners at its U.S. clubs could soon deliver a Netflix moment. Our channel checks suggest membership counts at selected Costco locations, following implementation of the scanners, is rising by double digits." Morgan Stanley reiterates Spotify as overweight Morgan Stanley raised its price target on Spotify to $430 from $400, calling it a top pick. "We remain bullish due to cont'd conviction in 1) Spotify's best-in-class product offering and related pricing power, 2) cont'd runway for user growth, and 3) mgmt's commitment to financial discipline and driving profit...

Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2024.David A. Grogen | CNBCWarren Buffett is worried about a rise in impersonators looking to capitalize on his name by purporting to be him recommending an investment product or political candidate on social media. So much so that Berkshire Hathaway made the rare move of adding a statement on the matter to the front page of its website.The statement reads:"In light of the increased usage of social media, there have been numerous fraudulent claims regarding Mr. Buffett's endorsement of investment products as well as his endorsement and support of political candidates. Mr. Buffett does not currently and will not prospectively endorse investment products or endorse and supp...

Vintage Coca-Cola bottles are seen in a shop window in Manhattan, New York City, on July 15, 2024.Beata Zawrzel | Nurphoto | Getty ImagesCoca-Cola is about to report third-quarter earnings before the bell on Wednesday.Here is what Wall Street analysts surveyed by LSEG are expecting:Earnings per share: 74 centsRevenue: $11.60 billionIn recent quarters, Coke has been besting rival PepsiCo, which has been hurt by the fallout from the Quaker foods recalls, a slowdown in snacking and lagging energy drink sales.Coke has reported strong demand in its international markets, helping offset weaker demand in the U.S. In its home market, consumers have been dining out less, denting the company's off-premise sales and prompting Coke to partner with chains to offer combo meals.Despite domestic challenge...

Deutsche Bank offices in the City of London on July 2, 2024, in London, U.K. Mike Kemp | In Pictures | Getty ImagesCologne's higher regional court on Wednesday ruled against Deutsche Bank in a long-standing legal dispute with shareholders who alleged the lender underpaid in its acquisition of German retail bank Postbank.The institutions merged in 2018.Plaintiffs in the case claim that Postbank was worth more than the 25 euros ($27) per share paid by Deutsche Bank as part of its takeover offer of October 2010. The investors, 13 plaintiffs who are former shareholders of Deutsche Postbank (Postbank), held they were entitled to a significantly higher payment of 57.25 euro per share.In August, Deutsche Bank reached settlements with nearly 60% of plaintiffs in the case.Deutsche Bank said it will...