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In a market outlook report, BMO Chief Investment Strategist Brian Belski and his team projected the benchmark S&P 500 (.SPX) would end 2024 at 5,100, nearly 12% above Friday's closing level. Investors have various definitions of a bull market, although one common definition requires the S&P 500 to reach a new all-time high to confirm a bull market. Separately on Monday, strategists at Deutsche Bank also forecast the S&P 500 would end 2024 at 5,100. BMO sees S&P 500 earnings rising about 13.6% in 2024, a "significant rebound" from this year. "We also believe that volatility is likely to subside as macro-environment resiliency continues to surprise alongside falling inflation," the BMO strategists said.
Persons: Carlo Allegri, Brian Belski, Lewis Krauskopf, Will Dunham Organizations: REUTERS, BMO Capital Markets, BMO Chief, BMO, Deutsche Bank, Thomson Locations: Manhattan, New York City , New York, U.S
The stock market has avoided an "earnings apocalypse" following third-quarter results, according to BMO. AdvertisementThe stock market just avoided an "earnings apocalypse" following third-quarter results, and that should set the stage for more gains heading into year-end. "Despite an impressive month-to-date gain thus far, there is still a fair amount of negativity and concern regarding stock market direction," Belski said. With 94% of S&P 500 companies having reported third-quarter earnings results, 83% beat profit estimates by a median of 7%, which is higher than average. That's an encouraging signal, as more participation in the stock market rally should help drive a sustainable continuation of the current bull market.
Persons: BMO's Brian Belski, Belski, , Brian Belski, That's Organizations: BMO, Service
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere is no fundamental catalyst for yields to fall in Q4, says Virtus Investment's Joe TerranovaShannon Saccocia, CIO of NB Private Wealth, Joe Terranova, chief market strategist at Virtus Investment Partners, Steve Weiss, Short Hills Capital founder, and Brian Belski, BMO chief investment strategist, join 'Halftime Report' to discuss the Q4 playbook, rates moving higher as additional supply comes in from the Fed, and more.
Persons: Virtus, Joe Terranova Shannon Saccocia, Joe Terranova, Steve Weiss, Brian Belski Organizations: Virtus Investment Partners, Short Hills Capital, BMO
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's investment committee discuss rate expectations for Q4Shannon Saccocia, CIO of NB Private Wealth, Joe Terranova, chief market strategist at Virtus Investment Partners, Steve Weiss, Short Hills Capital founder, and Brian Belski, BMO chief investment strategist, join 'Halftime Report' to discuss the Q4 playbook, rates moving higher as additional supply comes in from the Fed, and more.
Persons: Shannon Saccocia, Joe Terranova, Steve Weiss, Brian Belski Organizations: Watch, Virtus Investment Partners, Short Hills Capital, BMO
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBMO’s Brian Belski: Market’s resilience does not necessarily hang on mega-capsBrian Belski, BMO chief investment strategist, joins ‘Halftime Report’ to discuss what lies ahead in the market amid AI mania and rally in tech stocks.
Persons: Brian Belski Organizations: BMO
Watch CNBC’s full interview with BMO’s Brian Belski
  + stars: | 2023-05-31 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with BMO’s Brian BelskiBrian Belski, BMO chief investment strategist, joins ‘Halftime Report’ to discuss what lies ahead in the market amid AI mania and rally in tech stocks.
Persons: BMO’s Brian Belski Brian Belski Organizations: BMO
The stock market could be volatile and stay rangebound for the foreseeable future — but that doesn't mean investors should sit it out, according to BMO. The Canadian bank's year-end target of 4,300 for the S & P 500 implies just a 3.2% upside from where the broad index finished Monday. "Nonetheless, investors should remain opportunistic by employing active decision-making, in our view, as our analysis suggest that plenty of investment opportunities still exist even during range-bound market periods." He screened for stocks that have forword price-to-earnings multiples below the S & P 500 and forword earnings per share growth that's greater than the S & P 500's. The Delaware company also missed revenue expectations, reporting $3.02 billion against the $3.10 billion anticipated.
BMO's Brian Belski defends his secular bull case for the market
  + stars: | 2023-05-02 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBMO's Brian Belski defends his secular bull case for the marketBrian Belski, BMO chief investment strategist, joins 'Halftime Report' to discuss his base case for the markets and his outlook for markets.
Better than feared earnings results will power the stock market's ongoing rally, according to Fundstrat's Tom Lee. "We think demand and margins holding up better will support a rally in technology stocks," Lee said. And the absolute earnings results aren't all that bad so far, with first-quarter earnings per share tracking to be down just 1.2% year-over-year on sales growth of 7.3%, according to Fundstrat. "We think demand and margins holding up better will support a rally in technology stocks... Technology could be the winner of results season." BMO chief investment officer Carol Schleif said in an e-mail to Insider that there have been "no major red flags" in earnings results.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with BMO's Brian Belski on his second-quarter playbookBMO Chief Investment Strategist Brian Belski joins 'Halftime Report' to discuss his Q2 market forecast, and why it makes sense to buy the dip in financials.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStock market is going to rally in second half of 2023, says BMO's Brian BelskiBMO Chief Investment Strategist Brian Belski joins 'Halftime Report' to discuss his Q2 market forecast, and why it makes sense to buy the dip in financials.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinancials are the value play in the market, buy the weakness, says BMO's Brian BelskiBrian Belski, BMO chief investment strategist, joins the 'Halftime Report' to discuss trends in financials and his sector outlook. The Investment Committee also weighs in.
[1/2] A sign for the Bank of Montreal in Toronto, Ontario, Canada December 13, 2021. Banks typically benefit from higher interest rates but could feel the pressure if they affect loan demand and economic growth. Provision for credit losses (PCL) at BMO came in at C$217 million ($158 million) for the quarter, compared with a recovery of C$99 million a year earlier. Reuters GraphicsProfits at BMO and Scotiabank were also weighed down by the Canadian government's 'Canada Recovery Dividend (CRD)'. BMO recorded C$371 million related to the CRD and Scotiabank C$579 million.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email2023 market weakness has been pulled forward and a stock pullback has begun, says BMO's BelskiBrian Belski, BMO chief investment strategist, joins the 'Halftime Report' to discuss what's happened since his last appearance on CNBC, Belski's thoughts on fighting the Federal Reserve and more.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAlthough growth has slowed, the labor market remains quite healthy, says BMO's Yung-Yu MaYung-Yu Ma, BMO chief investment strategist, joins 'TechCheck' to discuss slowing growth despite a strong labor market, areas of opportunity in the tech sector as adjustments in inventory and growth continue and the prevalence of subscription models in enterprise software.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Yung-Yu Ma, BMO chief investment strategistYung-Yu Ma, BMO chief investment strategist, joins 'TechCheck' to discuss slowing growth despite a strong labor market, areas of opportunity in the tech sector as adjustments in inventory and growth continue and the prevalence of subscription models in enterprise software.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors want to be in end markets that remain strong, says BMO's MaYung-Yu Ma, BMO chief investment strategist, joins 'TechCheck' to discuss whether inventory corrections are creating buying opportunities, what long-term investors should keep an eye out for and more.
BMO sees modest stock-market gains in 2023
  + stars: | 2022-12-02 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBMO sees modest stock-market gains in 2023Brian Belski, BMO chief investment strategist, joins the 'Halftime Report' to discuss his price target for the S&P 500 in 2023
Watch CNBC's full interview with BMO's Yung-Yu Ma
  + stars: | 2022-11-14 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with BMO's Yung-Yu MaBMO Chief Investment Strategist Yung-Yu Ma joins 'TechCheck' to discuss investment strategies for tech, finding stability in portfolios and broad platform player's resilience against consolidation.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA 2-pronged portfolio approach for stability makes sense in today's market, says BMO's Yung-Yu MaBMO chief investment strategist Yung-Yu Ma joins 'TechCheck' to discuss investment strategies for tech, finding stability in portfolios and broad platform player's resilience against consolidation.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're in the early stages of value outperforming growth, says BMO's Brian BelskiBrian Belski, BMO chief investment strategist, joins the 'Halftime Report' to discuss value versus growth stocks.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe will transition into more normalized returns and earnings growth in '23, says BMO's Brian BelskiBrian Belski, BMO chief investment strategist, joins 'Halftime Report' to discuss Belski's price target for the S&P 500, how stocks will perform if the Federal Reserve keeps raising rates, and more.
Watch CNBC's full interview with BMO's Brian Belski
  + stars: | 2022-10-14 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with BMO's Brian BelskiBrian Belski, BMO chief investment strategist, joins 'Halftime Report' to discuss Belski's price target for the S&P 500, how stocks will perform if the Federal Reserve keeps raising rates, and more.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors are underinvested in U.S. stocks, strength will come from it in the Q4, says BMO's Brian BelskiBrian Belski, BMO chief investments strategist, joins the 'Halftime Report' to discuss his overall view on the markets, stocks being at session lows and the Fed's impact on stocks and the economy.
Watch CNBC’s full interview with BMO's Brian Belski
  + stars: | 2022-09-27 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with BMO's Brian BelskiBrian Belski, BMO chief investments strategist, joins the 'Halftime Report' to discuss changing his market call, stocks at session lows and the overall impact of inflation with the 'Halftime Report' investment committee.
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