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☆ Stock futures are flat after major averages claw back some of this week's losses: Live updates
▼ + stars: | 2024-03-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Traders work on the floor at the New York Stock Exchange on Jan. 29, 2024. Futures tied to the Dow Jones Industrial Average dipped about 10 points, while S&P 500 futures and Nasdaq-100 futures were little changed. All major averages finished higher Wednesday following back-to-back losing sessions. Nine of the 11 major S&P sectors finished higher, led to the upside by utilities. Investors monitored the first of Fed Chair Powell's appearances on Capitol Hill this week for more insight on the path ahead for interest rate cuts.

Persons: Jerome Powell's, Powell, Adam Sarhan Organizations: New York Stock Exchange, Stock, Federal, Capitol Hill, Futures, Dow Jones, Nasdaq, Dow Jones Industrial, New York Community Bancorp, Apple, Investors, Fed, Capitol, Financial Services Committee, Investments, Broadcom, Costco Wholesale, Kroger Locations: New, February's

☆ Nvidia and Big Tech are still the driving forces for the market, bringing S&P 500 back to record levels
▼ + stars: | 2024-01-19 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Thank the "Magnificent Seven" stocks for the S & P 500 's bounce to record levels in 2024 . "It's a bet on secular growth," said Truist's Keith Lerner. "AI stocks … are going bonkers," he said. "People see a secular growth story even with all the different type of cross-currents in the economy, interest rates and markets," he said. "However, strong secular tailwinds from Gen AI could extend the rally well beyond the typical 2-year up-cycles, in our view."

Persons: Truist's Keith Lerner, It's, Adam Sarhan, Lerner, –, Ed Yardeni, Raymond James, Srini Pajjuri, Michael Bloom Organizations: Nvidia, Microsoft, Tesla, Investments, Devices, Taiwan Semiconductor Manufacturing, Semiconductor, Yardeni, SOX, stoke

☆ Can Big Tech earnings save the stock market? What investors should know
▼ + stars: | 2023-10-24 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

Big technology stocks may surprise to the upside when they report results in coming days. But even a better-than-expected quarter and companies' improved earnings and revenue forecasts may not be enough to save the market from its recent reversal, according to some professional investors. That continues Tuesday with results from Alphabet and Microsoft , followed by Meta Platforms on Wednesday and Amazon Thursday, all after the market closes. The earnings setup Heading into the earnings, many companies face easier comparisons over last year. Of the largest tech stocks, Meta Platforms is expected to show rapid revenue growth acceleration, at 21%.

Persons: Adam Sarhan, there's, Ken Mahoney, bode, Gene Munster, Bernstein's Mark Shmulik, Nvidia, Munster, Sarhan Organizations: Investments, Big Tech, Netflix, Microsoft, Meta, Federal, Asset Management, Federal Reserve Locations: what's, East, Europe

☆ This month's three big IPOs gave up their early gains this week, denting market confidence
▼ + stars: | 2023-09-21 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Three highly anticipated initial public offerings that came to market this past week raised investor hopes that a nearly two-year-long drought in IPOs might finally be coming to an end. In fact, the Renaissance IPO ETF that tracks aftermarket trading in recent IPOs picked up heading into Arm's offering, but fell 2.5% on Thursday and is down nearly 5% this month. Market barometer IPOs are a barometer of market confidence as investors bet on the hope that they are snatching up companies with strong growth potential, said Truist Advisory Service's chief market strategist Keith Lerner. The underwhelming performance of recent IPOs is just another sign that the choppy market waters are likely to continue, he added. From that perspective, the recent IPOs aren't necessarily a sign of market failure, according to Sarhan.

Persons: Adam Sarhan, —, Instacart, Keith Lerner, Lerner, Sarhan, Michael Bloom Organizations: Investments, ARM, Arm Holdings, Klaviyo, CART, Facebook Locations: IPOs, Arm's, British

☆ Stock futures are flat after S&P 500 notches highest close since August: Live updates
▼ + stars: | 2023-06-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 30, 2023. Stocks futures were flat in overnight trading after the S&P 500 notched its highest closing level of 2023. Dave & Buster's gained about 4% after the bell, while Stitch Fix added nearly 5%. S&P 500 futures and Nasdaq-100 futures traded flat. The broad index added 0.24% to finish at its highest level since August 2022, while the Nasdaq Composite rose 0.36% to end at its highest close in 2023.

Persons: Buster's, Goldman Sachs, Morgan Stanley, Tuesday's uptrend, Adam Sarhan Organizations: New York Stock Exchange, Stocks, Dave, Dow Jones, Nasdaq, Merck, UnitedHealth, Investments, Campbell Soup, GameStop Locations: New York City, U.S

☆ Instant View: Solid April US jobs report undermines case for Fed cut soon
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +8 min

ANTHONY SAGLIMBENE, CHIEF MARKET STRATEGIST, AMERIPRISE FINANCIAL, TROY, MICHIGAN“It's definitely telling you that the job market is still hot. PETER CARDILLO, CHIEF MARKET ECONOMIST, SPARTAN CAPITAL SECURITIES, NEW YORK“It was a hotter than expected report, it certainly didn’t show any cooling in the labor market. Hourly earnings were a little higher than I was looking for.”“Bottom line, this is a strong report and shows that the labor market is resilient. So I think the real focus is on the inflation numbers, and what's happening with wage growth. We are hopeful the continued strength of the jobs market and signs of slowing inflation will ease market volatility in the coming months.

☆ First Republic shares book slim gains after brutal sell-off
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

April 27 (Reuters) - First Republic Bank's (FRC.N) shares rose nearly 5% premarket on Thursday, following a bruising sell-off that wiped out 60% of the stock's value this week. First Republic's woes this weak has brought the banking sector under renewed pressure as it looks to recover from the biggest turmoil since 2008. "First republic lost and is continuing to lose deposits. "If First Republic fails or is bailed out, that will likely cause more downward pressure on the already beaten down financial sector." The downgrade could lead to restrictions on First Republic's ability to borrow from the U.S. central bank, the report said.

"Investors are okay with earnings so far because the lack of bad news is good news," said Adam Sarhan, chief executive of 50 Park Investments. "The market is waiting to see if we can get some bullish earnings over the next few weeks from some of the big cap tech stocks." A slate of Fed speakers this week voiced support for another 25-basis-point rate hike by the U.S. central bank when it meets next week. Declining issues outnumbered advancers by a 1.42-to-1 ratio on the NYSE and a 1.30-to-1 ratio on the Nasdaq. The S&P index recorded 18 new 52-week highs and three new lows, while the Nasdaq recorded 27 new highs and 78 new lows.

The remarks followed recent data showing an unexpected inflation increase in January and an unusually large jobs gain for the month. Traders dramatically raised their bets for a 50-basis-point rate hike in March after Powell's comments, with money market futures last pricing in a more than 70% chance of such a move, up from around 31% on Monday, according to CME Group's FedWatch tool. Data influencing the Fed's rate hiking path will include Friday's closely watched nonfarm payroll additions for February. Meanwhile, the yield on two-year Treasury notes , which best reflects short-term rate expectations, hit 5% for the first time since July 2007. Dick's Sporting Goods (DKS.N) rallied 11% after the retailer forecast annual earnings above Wall Street estimates and more than doubled its quarterly dividend.

☆ AI stocks surge as investors bet on growth prospects
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +2 min

C3.a1 forecast better-than-expected revenue and profit for both the fourth quarter and fiscal year 2023, after its third-quarter results topped Wall Street estimates. Shares of the AI software provider were up 16% at $24.80, and were one of the top five trending stocks on StockTwits. Microsoft's investment in OpenAI's ChatGPT boosted AI firms' popularity further. Other major AI stocks also surged on Friday with BigBear.ai (BBAI.N), conversation intelligence firm SoundHound AI (SOUN.O), and Thailand's security firm Guardforce AI (GFAI.O) jumping between 5% and 20%. "AI could become the new gold rush on Wall Street," said Adam Sarhan, chief executive officer of 50 Park Investments in Florida.

☆ Stock futures inch higher as Wall Street braces for final trading day of February: Live updates
▼ + stars: | 2023-02-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Stocks futures rose slightly in overnight trading as investors braced for the final trading day of February. Futures tied to the Dow Jones Industrial Average gained 30 points, or 0.10%, while S&P 500 and Nasdaq 100 futures added 0.12% each. Zoom Video surged nearly 8% in overnight trading on strong earnings, while Occidental Petroleum 's stock fell 1% after posting a top-and-bottom line miss. The Dow Jones Industrial average rose 72.17 points or 0.22%, while the S&P 500 and Nasdaq Composite gained 0.31% and 0.63%, respectively. Both the S&P 500 and Nasdaq are positive in 2023, but down 2.3% and 1%, respectively, in February.

☆ January CPI accelerates, but trend easing
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +9 min

Data for December was revised higher to show the CPI gaining 0.1% instead of the 0.1% fall as previously reported. “It's not going to necessarily influence the Federal Reserve one way or another. "You have a little bit of a negative reaction because these numbers are not going to take the pressure off the Federal Reserve. "The real issue is what is the Federal Reserve going to do, it's pretty widely expected that they're going to raise rates both at their March meeting as well as their May meeting. "There's not much there for the Federal Reserve to give them some sort of a justification for taking their foot off the brake and reducing interest rates."

Money markets now see rates peaking at 4.9% in June, still below the 5% level expected by Fed policymakers. Analysts expect S&P 500 earnings during the fourth-quarter to decline 2.9%, compared with the 1.6% drop expected at the beginning of the year, according to Refinitiv data as of Friday. Wall Street is expected to end the month higher with the tech-inclined Nasdaq (.IXIC) and the benchmark S&P 500 (.SPX) recovering December losses. ET, Dow e-minis were down 157 points, or 0.46%, S&P 500 e-minis were down 32.5 points, or 0.8%, and Nasdaq 100 e-minis were down 138 points, or 1.13%. Reporting by Shreyashi Sanyal and Johann M Cherian in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Money markets now see rates peaking at 4.9% in June, still below the 5% level expected by Fed policymakers. Analysts expect S&P 500 earnings during the fourth-quarter to decline 3%, compared with the 1.6% drop expected at the beginning of the year, according to Refinitiv data. Wall Street is expected to end the month higher with the Nasdaq (.IXIC) and the S&P 500 Growth index (.IGX) recouping more than half their monthly losses from December. Five of the major 11 S&P 500 sector indexes fell with communication services (.SPLRCL) and technology (.SPLRCT) leading the fall. The S&P index recorded three new 52-week highs and no new low, while the Nasdaq recorded 39 new highs and eight new lows.

☆ Big-tech stocks are bouncing back in 2023. Now they face their first big test
▼ + stars: | 2023-01-24 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

"This is the first real test we've had in a while for big tech stocks," said Adam Sarhan, CEO of 50 Park Investments. Tech companies have already demonstrated that they are bracing for slower growth with a string of recent cost-cutting announcements and layoffs that have left few stalwarts untouched. Sarhan expects most technology companies to surpass expectations, in part because estimates have come so much. Some analysts remain optimistic heading into earnings season, viewing this period as a potential reset for dismal expectations. Companies often use this earnings season as an opportunity to guide for the year ahead.

☆ Wall St eyes higher open with earnings in full swing, Salesforce rises
▼ + stars: | 2023-01-23 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

The tech-focused Nasdaq (.IXIC) index was the only major Wall Street benchmark that ended the previous week higher. Analysts now expect year-over-year fourth-quarter earnings from S&P 500 companies to decline 2.9%, according to IBES Refinitiv data, compared with a 1.6% decline at the beginning of the year. Among other stocks, Baker Hughes Co (BKR.O) slid 1.4% on missing fourth-quarter profit estimates, hit by component shortages and supply chain disruptions. Western Digital Corp (WDC.O) rose 4.0% on a report that the memory chip maker could merge with Japan's Kioxia Holdings. Reporting by Shreyashi Sanyal and Johann M Cherian in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

U.S. consumer confidence rebounded in December as inflation retreated and the labor market remained strong, while 12-month inflation expectations fell to 6.7%, the lowest since September last year. Nike Inc (NKE.N) jumped 13.7% after reporting its best quarterly revenue growth in more than a decade, barring one quarter, and beat profit expectations on strong holiday demand from North American shoppers. Consumer discretionary stocks (.SPLRCD) led gains among the major S&P 500 (.SPX) sectoral indexes, while financial shares (.SPSY) also gained. Nike peers Lululemon Athletica Inc (LULU.O), Under Armour Inc (UAA.N) and Vans sneaker maker VF Corp (VFC.N) rose between 1.3% and 2.8%. Energy stocks (.SPNY) also rose tracking higher oil prices after data suggested a larger-than-expected draw in U.S. crude stockpiles.

☆ Wall Street eyes higher open on strong Nike earnings
▼ + stars: | 2022-12-21 | by ( Shubham Batra | ) www.reuters.com time to read: +3 min

SummarySummary Companies Nike jumps on strong second-quarter resultsFedEx soars on cost-cutting planConsumer confidence, home sales data due at 10 a.m. Wall Street's main indexes closed slightly higher on Tuesday, following early losses as Treasury yields jumped after the Bank of Japan's surprise monetary policy tweak. Fears of a recession following the U.S. central bank's prolonged interest rate hikes have weighed heavily on equities since its policy meeting last week, despite signs of cooling inflation. Other data expected through the week on core inflation and the labor market will likely determine the future course of interest rate hikes by the Fed. Market volumes are expected to decline this week before the Christmas and New Year holidays amid low participation.

☆ Stock futures fall as investors await October retail sales
▼ + stars: | 2022-11-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, November 15, 2022. Stock futures fell in overnight trading as investors weighed another lighter-than-expected inflation report and looked ahead to retail sales data due out Wednesday. S&P 500 and Nasdaq 100 futures slipped 0.2% and 0.17%, respectively. The producer price index report, which measures wholesale prices, came in below expectations, which alleviated some of investors' concerns around inflation. Nine out of 11 S&P 500 sectors rose, led to the upside by communication services and information technology.

☆ Stock futures rise as investors look past disappointing tech earnings, Meta shares crater
▼ + stars: | 2022-10-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Stock futures rose in overnight trading Wednesday as investors seemed to brush off disappointing results from Meta Platforms . Futures tied to the Nasdaq 100 traded 0.13% higher, while S&P 500 futures gained 0.21%. The Dow is on pace for its fourth positive week in a row since its five-week streak ended in November 2021. "Remember, the market is a forward-looking mechanism and the earnings reports tell us what happened in the past. Along with earnings, investors have their sights on an advanced reading of third-quarter gross domestic product expected to offer further clues into the state of the U.S. economy.

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