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☆ Stock market today: Indexes gain as investors assess new inflation data and latest earnings
▼ + stars: | 2024-04-26 | by ( Max Adams | Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

US stocks rose on Friday as markets assessed new inflation data in the form of March PCE. The Fed's preferred gauge showed inflation rose 2.8% year-over-year, slightly higher than estimates. AdvertisementUS stocks climbed on Friday, with investors digesting new inflation data and cheering earnings from mega-cap tech titans Microsoft and Alphabet. Personal consumption expenditures data showed prices rose more than expected last month. The Federal Reserve's preferred measure of inflation showed an uptick of 2.8% versus estimates of 2.7%.

Persons: —, Clark Bellin Organizations: PCE, Microsoft, Google, Service, Federal, Bellwether

☆ 'Nearing exhaustion': Top strategists warn that weaker consumer spending could cause US stocks to run out of steam — but 22 investments can thrive during a market reversal
▼ + stars: | 2024-03-16 | by ( James Faris | ) www.businessinsider.com time to read: +10 min

Eight economists, investment chiefs, and strategists that Business Insider recently spoke to credited healthier-than-anticipated consumer balance sheets and spending for the continued expansion. "Either that, or they're going to be maxed out — they can't get any more money. They're not going to have any liquidity to be able to continue to do the things they're going to do." He's also sticking with defensive stocks as consumer spending softens, including those in the consumer staples sector like Clorox (CLX) and Procter & Gamble (PG). Real estate is a "hated asset class" that's negatively correlated with interest rates, Sekera said.

Persons: shouldn't, Kevin Gordon, Charles Schwab, they're, Sue Crotty, Ed Clissold, Ned Davis, Clark Bellin, Bellin, David Rosenberg, They're, Rob Swanke, Swanke, Preston Caldwell, Morningstar's, Dave Sekera, Sekera, Christopher Barto, Gordon, Clissold, He's, Morningstar's Sekera, Crotty, Segal Marco Advisors, She's, Barto, that's Organizations: Business, Consumers, Segal Marco, Ned, Ned Davis Research, Commonwealth Financial Network, Nasdaq, Morningstar, Fort Pitt Capital Group, Procter, Gamble, Federal Reserve, Exxon, APA Corp, Duke Energy, Segal, Energy, Healthcare Locations: Devon, Real, NiSource

☆ 'There's very little margin for error': 7 strategists explain why the Goldilocks narrative is in trouble — but these 8 investments are still worth making now
▼ + stars: | 2024-02-16 | by ( James Faris | ) www.businessinsider.com time to read: +9 min

Investors are pricing in a best-case outcome where earnings rise and inflation returns to normal in a continued economic expansion. “It’s a tough needle to thread,” said Steve Sosnick, the chief strategist at Interactive Brokers. “And that pretty much pulls forward almost all the returns, in our minds, for 2024.”AdvertisementCrit Thomas, a global market strategist at Touchstone Investments, has the same concern. “And so at 21x earnings, there’s very little margin for error here.”AdvertisementFourth-quarter earnings mostly met measured expectations , as did forward guidance. Clark Bellin, the chief investment officer at Bellwether Wealth, said he’s less worried about valuations broadly and is more interested in seeing which sectors look cheap.

Persons: —, ”, Solita Marcelli, “, Sameer Samana, Steve Sosnick, It’s, Steven Wieting, “ We’ve, Crit Thomas, “ I’m, ” Thomas, We’re, Chris Galipeau, ” Galipeau, ” Sosnick, we’ve, Liz Ann Sonders, Schwab, ” Sonders, there’s, Clark Bellin, he’s, ” Bellin, you’re, Stocks, Samana, won’t, Thomas, Wieting, Bellin, “ They’ve, they’re Organizations: Service, Business, UBS Global Wealth Management, Federal Reserve, Wells, Wells Fargo Investment Institute, Interactive, Citi Global Wealth’s, Touchstone Investments, Franklin Templeton Institute, Citi Global Wealth, Bellwether Wealth Locations: Wells Fargo, Samana, ” Samana, Galipeau

Wholesale prices spiked in January, rising 0.3% and above expectations in yet another sign that maybe inflation is proving harder to put to rest than the markets and the Federal Reserve had hoped. Economists had expected a 0.1% monthly increase in both the overall producer price index – a measure of prices paid by businesses – and the core, which leaves out often volatile energy and food costs. Increases in shelter costs accounted for more than two-thirds of the increase in the main index, although food prices also increased while energy costs fell. Investors had bought into the notion of the Federal Reserve cutting interest rates in May, but that was called into question by the stronger-than-expected news on inflation. “When will the recession start?” asks Peter Berezin, chief global strategist at BCA Research in a report out Friday morning.

Persons: ”, Clark Bellin, John Ingram, Chris Giamo, Giamo, “, Peter Berezin Organizations: Federal Reserve, Labor Department, PPI, CPI, Dow Jones, Investors, ”, Crestwood Advisors, “, TD Bank, BCA Research Locations: U.S

The development comes days after SoftBank Group-backed (9984.T) chip designer Arm Holdings made public its IPO filing. Instacart said its revenue had surged to $1.48 billion in the six months ended June 30, compared with $1.13 billion in the same period last year. Net income was $242 million during the six-month period, compared to a $74 million loss a year earlier, Instacart said. Customers can order through the Instacart app, and an Instacart "shopper" delivers the product in as little as 30 minutes. Unlike in an IPO, no shares are sold in advance in a direct listing and investors can sell their shares directly to the public.

Persons: Dado Ruvic, Mark Schwartz, Mike Bellin, Instacart, Goldman Sachs, Fidji Simo, Frank Slootman, Niket, Savyata Mishra, Shilpi Majumdar, Shinjini, Maju Samuel Organizations: REUTERS, SoftBank, Arm Holdings, PricewaterhouseCoopers U.S, San, underwriters, Nasdaq, Facebook, Canada, CVS, Reuters, Thomson Locations: San Francisco, United States, Snowflake, Bengaluru

Three different prosecutors want to put Donald J. Trump on trial in four different cities next year, all before Memorial Day and in the midst of his presidential campaign. A morass of delays, court backlogs and legal skirmishes awaits, interviews with nearly two dozen current and former prosecutors, judges, legal experts and people involved in the Trump cases show. Some experts predicted that only one or two trials will take place next year; one speculated that none of the four Trump cases will start before the election. And between the extensive legal arguments that must take place before a trial can begin — not to mention that the trials themselves could last weeks or months — there are simply not enough boxes on the calendar to squeeze in all the former president’s trials. “While each of the cases seems at this point to be strong, there’s only so much you can ask a defendant to do at one time.”

Persons: Donald J, Trump, ”, Jeffrey Bellin Organizations: Trump, Republican, & Mary Law School Locations: Washington

The country’s leading experts on pardons have called out the president for his “cowardice” in granting mercy to only a handful of the over 130,000 federal prisoners. By commuting the sentences of some of the nonviolent Jan. 6 rioters, Biden would push his primary critic, Donald Trump, into a corner. Second, while Democrats have lost full control of Congress, Biden can act unilaterally to reduce the federal prison population. The power to pardon or commute federal sentences is a prerogative of the executive branch. Finally, by commuting the sentences of some of the nonviolent Jan. 6 rioters, Biden would push his primary critic, Donald Trump, into a corner.

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