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☆ Deutsche Bank's Binky Chadha: We have a bull case of $5,500 for the S&P this year
▼ + stars: | 2024-02-08 | 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 EmailDeutsche Bank's Binky Chadha: We have a bull case of $5,500 for the S&P this yearBinky Chadha, Deutsche Bank chief U.S. equity and global strategist, joins 'Money Movers' to discuss why the S&P 500 will eventually power through the $5,000 mark, what needs to go right for Chadha's S&P projections, and risks to equity market growth.

Persons: Chadha Organizations: Deutsche, Deutsche Bank

Fourth-quarter earnings season is kicking off with a mix of good and bad news. Without those six stocks, the rest of the S & P is expected to see earnings fall 6%. There's a lot riding on earnings in 2024 For the S & P 500 to increase in 2024, earnings need to expand. But with the S & P 500 up over 20% last year, the forward earnings multiple is roughly 19.6, in the very pricey range. We need higher revenues The biggest risk to higher earnings is lower revenue growth.

Persons: Savita Subramanian, General Mills, Mobileye, Nick Raich, Adam Crisafulli, BofA's Subramanian, Deutsche, Binky, Sam Stovall Organizations: Pfizer, Merck, Moderna, Bank of America, Nvidia, Microsoft, Apple, Nike, FedEx, General, Darden, Constellation Brands, Technology, Samsung Electronics, Vital, Deutsche Bank's Locations: Wayfair, Conagra

☆ Here's why some of Wall Street's biggest bulls are still calling for a recession in 2024 — and 4 investments they recommend right now
▼ + stars: | 2023-12-02 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

After a year of steady, resilient growth, the US economy will finally slip into a recession in 2024. Deutsche Bank is also calling for double-digit profit growth in a weaker economic backdrop. "For 2024, the house economics view with a mild short US recession implies $250 (+10%)," Chadha wrote in reference to S&P 500 earnings. Deutsche Bank also foresees earnings growth next year. "We remain overweight the financials as well as consumer cyclicals as they are already priced for a recession and the biggest beneficiary of an eventual recovery," Chadha wrote.

Persons: That's, —, Chris Grisanti, Brian Belski, Chadha, Belski, Financials, BMO's Organizations: Wall, Business, BMO Capital Markets, Deutsche Bank, MAI Capital Management, CNBC, BMO, Deutsche, Labor, Investors, Tech Locations: Chadha

☆ Stock-market bulls are growing bolder: Now Deutsche Bank predicts the S&P 500 will hit a record 5,100 in 2024
▼ + stars: | 2023-11-28 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

The benchmark S&P 500 will climb 12% to hit a new all-time high of 5,100, strategists said. Much of Wall Street has turned bullish on the index, which has defied gloomy predictions to rack up stellar gains this year. AdvertisementDeutsche Bank has become the latest big name on Wall Street to issue a bullish stock-market forecast for 2024, with analysts predicting the S&P 500 will soar to a fresh all-time high next year. AdvertisementWall Street bullishnessThere's clearly an optimistic atmosphere amongst stock-pickers right now, with Deutsche Bank far from the only big name on Wall Street to predict the S&P 500 could climb to record highs. Burnishing Chadha's credentials is the fact that he was one of the only Wall Street strategists who called this year's surprise stock-market rally.

Persons: —, Goldman Sachs, …, Binky Chadha, Tesla, Société Générale, Brian Belski, Burnishing Organizations: Deutsche Bank, Service, Bank of America, RBC Capital Markets, BMO Capital, Deutsche, Business, Big Tech, Apple, Microsoft, Google, Nvidia, Facebook, Nasdaq, Dow Jones

☆ What Q3 results say about potential year-end rally
▼ + stars: | 2023-11-01 | 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 EmailWhat Q3 results say about potential year-end rallyBinky Chadha, Deutsche Bank chief global strategist, joins 'Squawk on the Street' to discuss the potential for a year-end rally, the weak guidance from companies who have reported earnings, and more.

Organizations: Deutsche Bank

☆ Earnings season begins with markets lower than three months ago, but expectations are higher
▼ + stars: | 2023-10-09 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Q3 S & P 500 earnings: Trending higher July 1: $55.76 Today: $55.78 Source: LSEG Q4 S & P 500 earnings: Trending higher July 1: $57.58 Today: $58.14 Source: LSEG The fact that the third quarter estimate of $55.78 is slightly below the third quarter of last year ($56.02) is not important; what matters is the trend in earnings. For Q3 2023, 76 S & P 500 companies have issued negative EPS guidance and 42 S & P 500 companies have issued positive EPS guidance, according to John Butters, senior earnings analyst at FactSet. "The earnings outlook for the S & P 500 for the third quarter is less negative relative to recent quarters," Butters told clients. "The percentage of companies issuing negative earnings guidance is equal to the 10-year average." Here's what stands out: The average earnings growth was 10.6%; the average revenue growth was 4.2%.

Persons: —, John Butters, Butters, Nick Raich, It's, Chadha Organizations: FactSet, Companies, FedEx, Oracle, Darden, Costco, Pepsi, PepsiCo, Frito, Barclays, JPMorgan, Deutsche Bank Locations: America, AutoZone, United States, Mexico, Russia, Canada, China, South Africa, Japan, abate

☆ Deutsche Bank strategist says this counterintuitive trade can work as rates rise
▼ + stars: | 2023-10-04 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

There are two places investors want to look with interest rates climbing — and it may not be the places they'd expect, said Binky Chadha, Deutsche Bank chief global strategist. Interest rates have hit new multiyear highs in recent days, pressuring the stock market and raising investor alarm. Chadha said investors should look at banks and consumer cyclical names in this market. Bank stocks took a sharp hit amid the sector crisis earlier this year, and have slipped in recent months as investors considered the state of the economy. Consumer discretionary names in the S & P 500 have climbed more than 24% this year despite a modest retreat in the third quarter.

Persons: Binky Chadha, Chadha Organizations: Deutsche Bank, Treasury, P Bank ETF, Bank, Nasdaq

☆ Stocks are struggling even after earnings beats this season, Deutsche Bank says
▼ + stars: | 2023-07-31 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

However, individual stocks are struggling to perform following a quarterly beat, an "unusual" move, according to Deutsche Bank's Binky Chadha. "The market rally so far is running ahead of that in a typical earnings season at this stage," Chadha wrote Friday. Meanwhile, the S & P 500 is higher by roughly 1.6% at the midway point of earnings season, which is above the 1.1% advance typically made through this time, the strategist said. Stocks are usually higher by 2% on average by the end of the full earnings season. He said, "On the day after releasing results, stocks beating consensus expectations underperformed by a greater amount than almost any time during the past 18 years."

Persons: Chadha, Stocks, Goldman Sachs, David Kostin, Michael Bloom Organizations: Deutsche, Companies

As companies prepare to open their books to investors over the coming weeks, in the quarterly ritual known as earnings season, market watchers are balancing relatively weak estimates for past profits with brighter forecasts for future performance. Stock prices tend to follow expectations of earnings to come rather than react to details about the past, and markets have risen in step with investors’ improved outlook for the economy. The S&P 500 index has gained more than 20 percent since October. But much of that decline is concentrated in a few sectors, like energy, that recorded outsize profits last year, making for difficult comparisons to this year. And corporate executives also have a habit of lowering investors’ expectations ahead of earnings announcements, so that they can beat projections.

Persons: ”, Binky Chadha Organizations: Companies, Deutsche Bank

The bullish view Just four of the 15 strategists expect the S & P 500 to end the year higher than current levels, albeit very slightly. He expects the S & P 500 to end the year at 4,500 — up 2.3% from its current level. Instead, Peng said the S & P 500 's performance will likely broaden over the second half of this year. She expects the S & P 500 to remain flat by the end of the year at 4,300. UBS expects the S & P 500 to end the year at 4,100 — a drop of 7% from current levels.

Persons: Stocks, BlackRock Karim Chedid, Jerome Powell, Karim Chedid, Chedid, Chadha, Charles Schwab Liz Ann Sonders, Ken Peng, Peng, Savita Subramanian, Andreas Bruckner, Liz Ann Sonders, Charles Schwab, Matt Rowe, Mark Haefele, Christian Abuide, Sameer Samana, Rowe, Wouter Sturkenboom, Sturkenboom Organizations: CNBC Pro, Investment, iShares EMEA, BlackRock, Reserve, Deutsche Bank, Citi Global Wealth Investments, Big Tech, Bank of, Equity, Nomura, UBS Global Wealth Management, Federal Reserve, UBS, Lombard, RBC Wealth Management, U.S, Global Market, Wells, Wells Fargo Investment, Nomura Private Capital, EMEA, APAC, Northern Trust, Wells Fargo Investment Institute Locations: U.S, Asia, Europe, Wells Fargo, Northern, Samana

☆ Cormac McCarthy’s Remarkable Career Could Never Be Reproduced Today - The New York Times
▼ + stars: | 2023-06-19 | by ( Dan Sinykin | ) www.nytimes.com time to read: +3 min

The fact that the world is now celebrating the arc of Mr. McCarthy’s monumental career is a testament to the novelist’s undeniable talent. But it’s also due to his timely recognition that, without his protector, Mr. Erskine, and the vanished world of publishing that Mr. Erskine represented, he would need to change the way his books were published. In the 1960s, large corporations began acquiring publishing houses, consolidating the industry into fewer and fewer conglomerates. Literary agents became essential intermediaries, as publishing houses no longer riffled through submissions to find emerging talents. A poorly typed manuscript like Mr. McCarthy’s debut would struggle to make it into, let alone be rescued from, a slush pile.

Persons: it’s, Erskine, McCarthy’s, Robert Bernstein, Newhouse, Alberto Vitale, who’d, Mr, Vitale, ”, André Schiffrin, “, McCarthy, Lynn Nesbit, Robert Caro, Joan Didion, Toni Morrison, Tom Wolfe, “ I’ve, ” Mr, you’re, Amanda “ Binky, Urban, Sonny Mehta, Robert Gottlieb, MacArthur, who’s Organizations: RCA, S.I, Mr, Olivetti, Fiat, Random, Knopf, The New York Times

☆ Further stock market advance depends on rally broadening out
▼ + stars: | 2023-06-05 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

The advance in those indexes, particularly the S & P 500, has been very uneven, even with last week's broad rally. Lowry Research analysts noted that investors simply in the S & P 500, or in tech stocks, were clearly in an up market. Lowry noted that 48.2% of all operating-company only stocks are 20% or more below their 52-week highs, which Lowry and others define as bear market territory. That's far worse than the 32% that were in bear market territory on February 2, when the S & P 500 was at a new high for the year. "Bull markets are hard-pressed to last when the number of stocks entering 'bear market territory' grows," Lowry noted.

Persons: You'd, Chadha, SPX, Venu Krishna, Lowry, Russell, Quincy Krosby Organizations: Deutsche Bank, Barclays, Street Journal, Lowry Research, LPL

☆ Opinion | Marjorie Taylor Greene and the Thick, Cracked Goggles of Grievance
▼ + stars: | 2023-04-20 | by ( Frank Bruni | ) www.nytimes.com time to read: +2 min

“Teixeira is white, male, christian, and antiwar,” she tweeted, capitalizing on her professed faith without properly capitalizing it. Or the administration that is waging war in Ukraine?”President Biden isn’t waging war in Ukraine. Either way, their predetermined sense of grievance is the prism through which all is passed and all is parsed. can see the lefty secularism and reverse racism — the wokeness, in a polarizing word — in any turn of events. Witness their conspiracy theories, their militias, their actions on — and then revisionism about — the Jan. 6 rioting.

☆ Why you won't see many car ads during Sunday's Super Bowl
▼ + stars: | 2023-02-10 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

The average cost of a 30-second commercial during last year's Super Bowl was $6.5 million, up more than $2 million over 2016 rates. Automakers — historically among the largest Super Bowl advertisers — are mostly bypassing this Sunday's NFL championship game to preserve cash or spend ad dollars elsewhere. And EV startup Polestar, whose ad was a success in the 2022 Super Bowl, said it will also not advertise this year. Ferrell also appeared in GM's Super Bowl ad promoting EVs two years ago. Stellantis has not released its ads, while GM, Kia and WeatherTech released their commercials earlier this week.

☆ A 30-year investing vet who called the latest bear market warns that stocks have another 41% downside with US economy already in recession and the Fed continuing to ratchet up rates
▼ + stars: | 2022-12-31 | by ( William Edwards | ) www.businessinsider.com time to read: +7 min

Jon Wolfenbarger thinks the US economy is already in recession. With growth slowing and the Fed still tightening, Wolfenbarger thinks stocks are due for big losses. The S&P 500 is already down around 20% year-to-date. All of that spells further trouble ahead for stocks, Wolfenbarger said, despite the fact that the S&P 500 has already fallen about 20% in 2022. In a recessionary scenario, Goldman Sachs' David Kostin said the S&P 500 could fall to 3,150, though that is not his base case.

☆ Top Wall Street strategists see another roller-coaster year ahead with minimal returns for stocks
▼ + stars: | 2022-12-22 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

A brutal year for stocks has made Wall Street strategists cautious about what's ahead as most are forecasting a similarly bumpy 2023 with minimal returns. The S & P 500 could tumble more than 16% from Wednesday's close to 3,250 before a strong rally to end 2023 higher. He sees the S & P 500 dropping 20% to the 3,000-3,300 level by the first quarter of next year. The firm noted that S & P 500 companies' third-quarter reports showed margins contracted year over year for the first time since the pandemic. If the economy goes into a recession, Goldman said, the S & P 500 would decline to 3,150.

☆ DEUTSCHE BANK: Here's a point-by-point look at how stocks would perform as the recession sets in, and what investors should buy to profit as a recovery begins
▼ + stars: | 2022-12-07 | by ( Marley Jay | ) www.businessinsider.com time to read: +4 min

Binky Chadha of Deutsche Bank says the current bear market rally will probably last into 2023. "High initial valuations and our expected earnings decline (-12% vs an average -15%), point to a -33% decline (S&P 500 3250)," Chadha wrote in a recent note. "MCG & Tech stocks relative to the S&P 500 have underperformed to well below the bottom of their medium-term up trend channel," he said. "We think Tech stocks can bounce tactically through the Q1 squeeze which in our view will be driven by falling rates and rising positioning." Chadha says financials and consumer cyclicals should also have a good run during the bear market rally.

☆ Deutsche Bank maps out specifically how stock market will trade for the next 12 months as recession hits
▼ + stars: | 2022-11-28 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The current bear market rally could continue into the new year before "following the typical recession playbook," according to Deutsche Bank. In the third quarter, Chadha said he sees the the S & P 500 dropping to 3,250. Putting these together points to a -33% decline" from the S & P 500's record high, he said. Deutsche sees the rebound being led by financial stocks, tech and consumer cyclicals. "With the S & P 500 having rallied recently by around 12% from its mid-October lows, our measure of aggregate equity positioning has risen only modestly and remains very low (12th percentile)," he said.

☆ Father's Day: 5 animal dads worse than you
▼ + stars: | 2022-06-19 | by ( Kristen Rogers | ) edition.cnn.com time to read: +5 min

Glenn Boozan's "There Are Moms Way Worse Than You: Irrefutable Proof That You Are Indeed a Fantastic Parent" features a few "bad" animal fathers, too. Workman PublishingQuestionable animal fathers include grizzly bears that eat their young when food is scarce, and lions that primarily stand guard and look tough while female lions venture out to hunt and kill. Male pipefish that were less interested in the pipefish mothers were less nurturing toward their young, investing fewer resources in them. David Tipling/Education Images/Universal Images Group/Getty Images“Horses seem like super dads, but, eh, they’re not the best,” Boozan wrote. “Buying a specific swaddling blanket or a different kind of Binky isn’t going to make you a better or worse parent,” Boozan said.

Persons: Glenn Boozan’s, ” Priscilla Witte, Glenn Boozan's, ” Boozan, Pipefish, David Tipling, “ They’ll, Diamanto, can’t, Guenter Fischer, “, Boozan Organizations: CNN, Workman Publishing, M University, Royal Society B, Stallions, Diversity, University of Michigan’s Museum of Zoology Locations: Stigmatopora, Edithburgh, Yorke, South Australia, Texas, Camargue, Provence, France, Peru

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