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☆ This is still a time to let your winners run, says U.S. Bank’s Eric Freedman
▼ + stars: | 2024-03-12 | 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 EmailThis is still a time to let your winners run, says U.S. Bank’s Eric FreedmanEric Freedman, U.S. Bank Asset Management CIO, joins 'Squawk Box' to discuss the latest market trends ahead of the opening bell on Tuesday.

Persons: Bank’s Eric Freedman Eric Freedman Organizations: Bank Asset Management

☆ Oil prices fall 1% after surprise US storage build
▼ + stars: | 2024-01-10 | by ( ) www.cnbc.com time to read: +2 min

Oil prices fell nearly a dollar a barrel on Wednesday after a surprise jump in U.S. crude stockpiles raised worries about demand in the largest oil market. Global benchmark Brent crude oil futures settled 79 cents, or 1%, to $76.80 a barrel. Early in the session, both contracts had risen by more than a dollar before the U.S. Energy Information Administration reported a surprise build in crude oil stockpiles and larger-than-expected jumps in storage of gasoline and distillates. Gasoline stocks rose by 8 million barrels while distillate stocks jumped by 6.5 million barrels, the EIA reported. Europe's weak economic outlook also added to oil demand concerns.

Persons: Rob Haworth, Haworth, Luis de Guindos, majeure Organizations: U.S . West Texas, Brent, U.S . Energy Information Administration, U.S, Bank Asset Management, EIA, European Central Bank, National Oil Corporation Locations: Nolan , Texas, U.S, Israel

☆ Stock futures are little changed as traders await key inflation report: Live updates
▼ + stars: | 2023-11-13 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange during afternoon trading, July 18, 2023. Stock futures were near flat Monday night ahead of a closely watched inflation report due before the bell on Tuesday. Futures tied to the Dow Jones Industrial Average added 4 points, trading near flat. S&P 500 futures inched up by 0.05%, and Nasdaq 100 futures ticked higher by nearly 0.1%. Monday marked a mixed start to the week for the three major indexes as investors geared up for the report.

Persons: Dow Jones, Bill Merz, Dow Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Federal, U.S, Bank Asset Management

☆ Stock futures inch higher as investors await tech earnings: Live updates
▼ + stars: | 2023-10-23 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Stock futures rose slightly Monday night as investors focused on the upcoming slate of earnings reports from major tech companies. S&P 500 futures and Nasdaq 100 futures also each climbed 0.2%. The Dow and S&P 500 finished Monday's session down about 0.6% and 0.2%, respectively. But the technology-heavy Nasdaq Composite was able to finish up about 0.3%, as investors bought into the sector with important earnings reports ahead. About 17% of S&P 500 companies have already reported earnings, and three-quarters of them have posted earnings surpassing analysts' expectations, according to FactSet.

Persons: Terry Sandven Organizations: New York Stock Exchange, Futures, Dow Jones, Nasdaq, Treasury, U.S, Bank Asset Management, Spotify, General Motors, Microsoft, Meta, IBM, Intel, Wall Locations: FactSet

(Reuters) - The S&P 500 ended lower on Friday as investors digested implications of a U.S. inflation report for the Federal Reserve’s interest rate policy and adjusted their portfolios on the last day of a weak third quarter for stocks. REUTERS/Brendan McDermid/File PhotoThe benchmark S&P 500 also posted its biggest monthly percentage drop of the year. The data revealed a “better than expected but still elevated inflation picture,” said Eric Freedman, chief investment officer at U.S. Bank Asset Management. Meanwhile, Freedman said, “we are at quarter end, and with quarter end comes all sorts of activities across both the stock and bond markets.”According to preliminary data, the S&P 500 lost 11.37 points, or 0.26%, to end at 4,288.33 points, while the Nasdaq Composite gained 18.05 points, or 0.18%, to 13,224.52. Among S&P 500 sectors, energy and financials declined sharply.

Persons: Brendan McDermid, ”, Eric Freedman, Freedman, ” Freedman, Paul Nolte, Murphy, Morgan Organizations: Reuters, New York Stock Exchange, REUTERS, Data, Fed, U.S, Bank Asset Management, Nasdaq, Dow Jones, Energy, “ Energy, Equity, Sylvest Wealth Management, Investors, Republicans, U.S . House, Traders, Nike Locations: U.S, New York City, Washington

☆ Stock futures are little changed after Tuesday's sharp losses: Live updates
▼ + stars: | 2023-09-26 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Dow Jones Industrial Average futures rose by 34 points, or 0.1%. Futures linked to the S&P 500 inched up 0.1%, while Nasdaq 100 futures added 0.1%. Economists' estimates called for 695,000, per Dow Jones. Economists polled by Dow Jones had forecasted 105.5. Economists expect they declined 0.5%, according to Dow Jones.

Persons: Dow, Dow Jones, Rob Haworth, Blanke, Robert Schein, Schein Organizations: Dow Jones Industrial, Nasdaq, Costco, Homes, Census Bureau, Department of Housing, Urban Development, Conference, Bank Asset Management, Micron Technology Locations: U.S

An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. West Texas Intermediate (WTI) crude futures gained 86 cents, or 1.1%, to settle at $81.25 a barrel, and Brent crude futures rose 68 cents, or 0.8%, to settle at $84.80 a barrel. Those concerns, spurred on by output cuts from the Organization of the Petroleum Exporting Countries and allies, helped oil prices gain for seven straight weeks since June. Higher borrowing costs can impede economic growth and in turn reduce overall demand for oil. Hatfield said he expects demand to hold up in China despite its slowing economy and forecast oil prices would trade between $75 to $90 a barrel over the coming months.

Persons: Brent, WTI, Rob Haworth, Haworth, Jay Hatfield, Hatfield, Shariq Khan, Natalie Grover, Paul Carsten, Sudarshan, Shri Navaratnam, Jamie Freed, Conor Humphries, Jane Merriman, Barbara Lewis, David Gregorio Our Organizations: REUTERS, West Texas, Brent, Organization of, Petroleum, U.S, Bank Asset Management, U.S . Federal Reserve, Infrastructure Capital Management, Thomson Locations: Zhoushan, Zhejiang province, China, BENGALURU

An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. "Prices are likely to remain range-bound for now," Haworth said, adding that demand is in question for investors worried by the weak data from China. Higher borrowing costs can impede economic growth and in turn reduce overall demand for oil. Oil benchmarks were further depressed by seasonal demand weakness heading into the autumn, said Jay Hatfield, CEO of Infrastructure Capital Management. Hatfield said he expects demand to hold up in China despite its slowing economy and forecast oil prices would trade between $75 to $90 a barrel over the coming months.

Persons: Brent, Rob Haworth, Haworth, Jay Hatfield, Hatfield, WTI, Natalie Grover, Paul Carsten, Sudarshan, Shri Navaratnam, Jamie Freed, Conor Humphries, Jane Merriman, Barbara Lewis Organizations: REUTERS, U.S . West Texas, U.S, Bank Asset Management, U.S . Federal Reserve, Infrastructure Capital Management, Organization of, Petroleum, Thomson Locations: Zhoushan, Zhejiang province, China, BENGALURU, U.S, London, Singapore

☆ Wall St Week Ahead Sluggish US earnings may need pick-me-up to support 2023 stock rally
▼ + stars: | 2023-08-11 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. The S&P 500 (.SPX) has edged higher since earnings season began in July, with the benchmark index up 16% in 2023. Third-quarter S&P 500 earnings are seen rising 1.3% on a year-over-year basis, according to Refinitiv, before a 9.7% fourth-quarter earnings rise and a 11.9% full-year increase in 2024. Reuters Graphics Reuters GraphicsMeanwhile, the S&P 500 has become more richly valued. Q2 RESULTSWith 91% of S&P 500 companies having reported second-quarter results, 78.7% posted earnings above analysts' expectations, according to Refinitiv IBES.

Persons: Mike Segar, Eric Freedman, Refinitiv, Anthony Saglimbene, Julian Emanuel, Evercore, Emanuel, John Lynch, Ned Davis, Comerica's Lynch, Lewis Krauskopf, Ira Iosebashvili, Richard Chang Organizations: Wall, New York Stock Exchange, REUTERS, Stock, U.S, Bank Asset Management, Reuters Graphics Reuters, Credit Suisse, Ameriprise Financial, Comerica Wealth Management, Apple, Walmart, Ned Davis Research, Thomson Locations: Manhattan, New York City , New York, U.S

Brent crude futures rose 41 cents, or 0.5%, to settle $86.81 a barrel, while U.S. West Texas Intermediate (WTI) crude futures gained 37 cents, or 0.5%, to settle at $83.19. The IEA estimated that global oil demand hit a record 103 million barrels per day in June and could scale another peak this month. Meanwhile, output cuts from Saudi Arabia and Russia set the stage for a sharp decline in inventories over the rest of 2023, which IEA said could drive oil prices even higher. On Thursday, the Organization of the Petroleum Exporting Countries (OPEC) said it expects global oil demand to rise by 2.44 million bpd this year, unchanged from its previous forecast. The steady oil rig count indicates U.S. producers are maintaining discipline about drilling and exploration, said Eric Freedman, Chief Investment Officer at U.S. Bank Asset Management.

Persons: Dado, Brent, Baker Hughes, Craig Erlam, WTI, Eric Freedman, Shariq Khan, Ahmad Ghaddar, Andrew Hayley, Elaine Hardcastle, Marguerita Choy, Cynthia Osterman, David Gregorio Our Organizations: REUTERS, International Energy Agency, Brent, U.S, West Texas, IEA, Organization of, Petroleum, Federal Reserve, Bank Asset Management, Thomson Locations: Baker Hughes BENGALURU, Saudi Arabia, Russia, Ukraine, U.S, China, June's

"The oil market is starting to slowly price in a looming supply crunch," Price Futures Group analyst Phil Flynn said. "Global supplies are starting to tighten and that could accelerate dramatically in the coming weeks. A shutdown of the grain corridor could hit supplies of ethanol and biofuels that are blended with oil products at a time that global grain markets are already tightening, which would lead to refiners using more crude oil, Flynn said. Meanwhile, U.S. energy firms this week reduced the number of oil rigs by seven, their biggest cut since early June, energy services firm Baker Hughes said. At 530, the U.S. oil rig count, an early indicator of future output, is at its lowest since March 2022.

Persons: WTI, Phil Flynn, Flynn, Baker Hughes, Suhail, Mazrouei, Rob Haworth, Shariq Khan, Natalie Grover, Arathy, Andrew Hayley, Marguerita Choy, David Holmes Organizations: Brent, U.S . West Texas, Futures, Energy Information Administration, EIA, UAE Energy, Reuters, P, U.S, Bank Asset Management, Thomson Locations: Russia, Ukraine, China BENGALURU, U.S, Bengaluru, London, Houston, Beijing

Brent crude futures rose $1.43, or 1.8%, to settle at $81.07 a barrel. U.S. West Texas Intermediate crude futures rose $1.42, or 1.9%, to settle at $77.07 a barrel, the highest since April 25. "The oil market is starting to slowly price in a looming supply crunch as it is on track for its fourth week of price gains," Price Futures Group analyst Phil Flynn said. In the U.S., crude inventories (USOILC=ECI) have fallen, amid a jump in crude exports and higher refinery utilisation, the Energy Information Administration (EIA) said on Wednesday. Data from the world's second-biggest oil consumer suggests the government's 5% annual growth target will be missed.

Persons: Brent, Phil Flynn, Flynn, Suhail, Mazrouei, Jay Hatfield, Rob Haworth, Shariq Khan, Natalie Grover, Arathy, Andrew Hayley, Marguerita Choy, David Holmes Organizations: Friday, Brent, . West Texas, Futures, Energy Information Administration, EIA, UAE Energy, Reuters, Infrastructure Capital Management, P, U.S, Bank Asset Management, Thomson Locations: Russia, Ukraine, China BENGALURU, U.S, China, Bengaluru, London, Houston, Beijing

Brent crude futures fell $2.95, or 3.9%, to settle at $71.84 a barrel, their lowest since Dec. 2021. Goldman Sachs cut its oil price forecasts early on Sunday, citing higher-than-expected supplies later this year and through 2024. The bank's December crude price forecast now stands at $86 a barrel for Brent, down from $95, and at $81 a barrel for WTI, down from $89. "The Fed meeting and inflation pressures remain key issues for the market this week," said Rob Haworth, senior investment strategist at U.S. Bank Asset Management. Also weighing on investors' minds, oil demand recovery has been muted in China, the top importer of crude oil and refined products.

Persons: Brent, Goldman Sachs, Goldman capitulating, Matt Smith, Robert Yawger, Rob Haworth, Haworth, Yawger, WTI, Shariq Khan, Noah Browning, Florence Tan, Mohi Narayan, Emelia Sithole, Jason Neely, Paul Simao, Sharon Singleton, Deepa Babington, David Gregorio Our Organizations: U.S, Federal Reserve, Brent, West Texas, U.S . Federal Reserve, Bank Asset Management, of Petroleum, International Energy Agency, Saudi, Thomson Locations: BENGALURU, U.S, China

"The Saudi cut lifted prices slightly, and then the chatter of the potential return of Iranian barrels saw a large drop. Oil prices had risen early in the week, buoyed by Saudi Arabia's pledge over the weekend to cut more output on top of the cuts agreed earlier with the Organization of the Petroleum Exporting Countries and its allies. However, a rise in U.S. fuel stocks and weak Chinese export data have weighed on the markets. Some analysts expect oil prices to rise if the U.S. Federal Reserve pauses hiking interest rates at its next meeting over June 13-14. The Fed's decision may also influence Saudi Arabia's next move, analysts said.

Persons: Brent, Giovanni Staunovo, Saudi Arabia's, Rob Haworth, Craig Erlam, Shariq Khan, Shadia Nasralla, Yuka Obayashi, Marguerita Choy, Richard Chang Organizations: Saudi, Brent, U.S . West Texas, Organization of, Petroleum, Northern, U.S, Bank Asset Management, U.S . Federal, Thomson Locations: China, BENGALURU, U.S, Iran, Saudi, US

☆ Good news for markets next week. Everyone agrees the debt ceiling 'X-date' is not here yet
▼ + stars: | 2023-05-12 | by ( Scott Schnipper | ) www.cnbc.com time to read: +6 min

Good news for markets next week: no default, no credit agency downgrade, no apocalypse. Worrying 2011 precedent Recent history tells investors that stocks will move more violently during a debt ceiling standoff. Retail sales update Debt negotiations aside, investors get updates next week on the state of American consumer spending when April retail sales are reported Tuesday alongside earnings from Home Depot. Deutsche Bank estimates that April retail sales expanded month over month by 0.7%, the market consensus. Credit Suisse is less optimistic, forecasting that April retail sales grew by 0.6%, but, excluding vehicles, were unchanged.

☆ Stock markets nervous about Fed pivot and banking sector
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +4 min

"The Fed decision was widely expected, so it didn't provide much of a shock to financial markets," Tina Teng, market analyst at CMC Markets, in Auckland. "However, I think the whole economic playout is not positive, especially the recent banking rout from the regional banks, and those big banks taking over the smaller banks. It's not a good sign, and risks are spreading out into the wider banking system, which worries investors." E-mini futures for the S&P 500 fell 0.22%, reflecting the dramatic slide in regional banking shares after the close of U.S. markets. The Fed is trying to indicate a direction, and the market is looking further down the path than the Fed's willing to communicate."

☆ Instant View: Fed hikes another 25 basis points, hints it may be the last increase
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +7 min

TOM GARRETSON, STRATEGIST, RBC PORTFOLIO ADVISORY GROUP, MINNEAPOLIS, MINNESOTA"It was a pretty dovish rate hike today. The expectations were that it might be a bit more of a hawkish rate hike in terms of leaving the door open to further hikes if needed." "The updated language in the policy statement does suggest the bar is going to be quite high for further rate hikes. … The market is hoping or expecting the Fed to pause after this rate hike. From a consumer credit perspective, the impact of further rate hikes will likely continue to be felt by borrowers across a range of industries.

☆ There's a real opportunity for investors to grab yield, says U.S. Bank's Eric Freedman
▼ + stars: | 2023-03-03 | 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 EmailThere's a real opportunity for investors to grab yield, says U.S. Bank's Eric FreedmanRon Insana, Contrast Capital partners co-CEO, and Eric Freedman, chief investment officer at U.S. Bank Asset Management Group, join 'Power Lunch' to discuss the Fed's future tightening, its reactivity to inflation and tips for navigating the choppy market.

☆ Watch CNBC's full interview with Contrast Capital 's Ron Insana and U.S. Bank's Eric Freedman
▼ + stars: | 2023-03-03 | 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 Contrast Capital 's Ron Insana and U.S. Bank's Eric FreedmanRon Insana, Contrast Capital partners co-CEO, and Eric Freedman, chief investment officer at U.S. Bank Asset Management Group, join 'Power Lunch' to discuss the Fed's future tightening, its reactivity to inflation and tips for navigating the choppy market.

SummarySummary Companies ClientEarth files novel UK case to hold directors accountableUK, Swedish, Danish, Belgian and French funds support lawsuitClaim alleges Shell board mismanaging climate risk, breaches lawLONDON, Feb 9 (Reuters) - A group of European institutional investors is backing a novel London lawsuit against energy giant Shell's (SHEL.L) board over alleged climate mismanagement in a case that could have far-reaching implications for how companies tackle emissions. Shell rejected the allegations, saying its climate targets were ambitious and on track and that its directors complied with their legal duties and acted in the company's best interests. "ClientEarth's attempt ... to overturn the board's policy as approved by our shareholders has no merit," a spokesperson said. London CIV said its Shell stake was a "primary hotspot of risk and exposure within our portfolio". The case comes two years after Shell was ordered to slash carbon emissions in a landmark Dutch climate case.

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