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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Hard for us not to be bullish' on stocks, says Carson Group's Ryan DetrickRyan Detrick, Carson Group chief market strategist, joins CNBC's 'Closing Bell' to discuss market momentum, a summer rally, outlook on stock outperformance in 2024, and more.
Persons: Carson Group's Ryan Detrick Ryan Detrick Organizations: Carson Group
CNN —Tiger Woods will tee up at the US Open for the 23rd time after accepting a special exemption to play the 124th edition of the major on Thursday. “The US Open, our national championship, is a truly special event for our game and one that has helped define my career,” Woods told the USGA. Woods celebrates sealing his second US Open title in 2002 after a three-shot victory at Bethpage Black in Farmingdale, New York. “The story of the US Open could not be written without Tiger Woods,” USGA Chief Championships Officer John Bodenhamer said in a statement. “My goal is to ruin the logo, I want to keep ruining the logo,” Woods told Carson Daly.
Persons: ” Woods, “ I’m, Timothy A, Clark, Woods, Tiger Woods, John Bodenhamer, , , Scottie Scheffler, Jack Nicklaus ’, Carson Daly, Charlie, , , Wyndham Clark, Rory McIlroy Organizations: CNN, Pinehurst, Country Club, United States Golf Association, USGA, Bethpage, Getty, Torrey Pines, Augusta National, NBC’s Locations: North Carolina, Pinehurst, Bethpage Black, Farmingdale , New York, AFP, Los Angeles, Torrey, Florida
Sell in May and go away? Think again
  + stars: | 2024-05-02 | by ( Krystal Hur | ) edition.cnn.com   time to read: +6 min
New York CNN —It’s “sell in May and go away” season. All three major indexes broke five-month winning streaks as hotter-than-expected inflation data stoked fears that interest rate cuts will come later than forecast. The central bank kept interest rates on hold at a 23-year high at its policy meeting. Persistent inflation has kept long-anticipated rate cuts on the backburner. Tesla “has let our entire charging org go,” William Navarro Jameson, strategic charging programs lead at Tesla, wrote on X.
Persons: Stocks, Jerome Powell, , Alex McGrath, Larry Tentarelli, Bryan Mena, it’s, Read, Tesla, Tesla “, ” William Navarro Jameson, Lane Chaplin, Hanna Ziady, Peter Valdes Organizations: CNN Business, Bell, New York CNN, The, Dow Jones, Nasdaq, Wednesday, Traders, Blue, Carson Group, Research, Federal Reserve, Fed, Motors, Ford, Tesla Locations: New York
The US economy is still firing on all cylinders despite slowing GDP growth in the first quarter. "The workhorse of the US economy remains the consumer, and there's really not much sign of a slowdown," Varghese said. AdvertisementThe US economy is firing on all cylinders despite a slowdown in first-quarter GDP growth, according to Carson Group global macro strategist Sonu Varghese. These are the five indicators that give Varghese confidence that the US consumer, and therefore the US economy, remains on solid footing. Income growth is outpacing inflationDespite elevated inflation, wage growth continues to outpace inflation growth, and that's ultimately a boon for consumers.
Persons: Sonu Varghese, there's, Varghese, that's, That's, " Varghese, here's Organizations: Carson, Carson Group
“Lempicka,” a new musical about an artistically and sexually adventurous painter, announced Thursday evening that it would close on May 19, just a month after opening. This is the first show to fall after this year’s Tony nominations were announced on Tuesday. “Lempicka” scored three nods — for the actresses Eden Espinosa and Amber Iman, as well as for scenic design — but was shut out of the best musical category. It really needed a boost, because its grosses have been anemic — last week it grossed $288,102, which is unsustainably low for a Broadway musical. The show, which explores the life of the 20th-century painter Tamara de Lempicka, was written by Carson Kreitzer and Matt Gould and directed by Rachel Chavkin.
Persons: , Tony, “ Lempicka ”, , Eden Espinosa, Amber Iman, Tamara de Lempicka, Carson Kreitzer, Matt Gould, Rachel Chavkin Organizations: Williamstown Theater, La Jolla Playhouse, Broadway Locations: San Diego
Futures tied to the Dow Jones Industrial Average gained 212 points, or 0.55%. S&P 500 futures rose nearly 0.3%, while Nasdaq 100 futures advanced about 0.5%. In extended trading, Apple advanced more than 6% after it announced a $110 billion share repurchase and a top -and bottom-line beat. The S&P 500 popped 0.91%, while the Dow gained 0.85%. The S&P 500 is off by 0.7% week to date, while the Nasdaq is down nearly 0.6%.
Persons: Cloudflare, Dow, Jerome Powell, Sonu Varghese, payrolls, Dow Jones Organizations: New York Stock Exchange, Stock, Dow Jones Industrial, Nasdaq, Apple, Biotech Amgen, Dow, Carson Group Locations: New York City, U.S
Wall Street needs a new rhyme for "sell in May and go away." NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Advertisement"Sell in May and go away" is an old Wall Street adage that highlights the fact that the stock market's worst six-month stretch of performance is historically May through October. LPL Financial's chief technical strategist Adam Turnquist highlighted that since 1950, average returns for the S&P 500 during this six-month period are actually positive, not negative, at +1.7%.
Persons: Carson Group's Ryan Detrick, , they're, LPL, Adam Turnquist, Turnquist, Ryan Detrick, Fundstrat's Tom Lee, Lee, Detrick Organizations: Service, Carson Group
The S & P 500 is down by more than 3% this month, though it has still registered a more than 6% advance for the year. But many investors worry stocks have further to go before finding a durable bottom. They say stocks look overvalued even after the recent pullback, and they cite troubling headwinds for equities. 'Sell in May and go away' May has a reputation as a historically weak month for stocks. Carson Group's Ryan Detrick noted that stocks have actually been higher in May during the last nine out of 10 years.
Persons: Mark Luschini, Janney Montgomery Scott, Jeff Hirsch, he's, It's, Hirsch, Carson Group's Ryan Detrick, we've Organizations: Investors, Dow Jones Industrial, Dow, Treasury Bond ETF
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow to position for growth in earnings, inflation, and the economySophie Lund-Yates, Senior Equity Analyst at Hargreaves Lansdown, and Ryan Detrick, Chief Market Strategist at the Carson Group, discuss mega-cap tech earnings, today's PCE report, and the direction of the markets.
Persons: Sophie Lund, Yates, Hargreaves Lansdown, Ryan Detrick Organizations: Carson Group, PCE
But on Tuesday, former National Enquirer boss David Pecker lifted the curtain on the actual media collusion that took place in the 2016 election. Pecker revealed in granular detail how Trump worked hand-in-hand with the infamous national tabloid to boost his candidacy and, perhaps far more importantly, simultaneously smear his political opponents with shameful lies and innuendo. Meanwhile, Pecker worked with Cohen to smear Trump’s Republican rivals in the 2016 primary, including Ben Carson, Ted Cruz, and Marco Rubio. At times, Pecker said that Cohen went as far as to contact him and direct the Enquirer to attack Trump’s GOP rivals. When the Enquirer published negative stories about Bill and Hillary Clinton, Pecker said that Trump was elated.
Persons: Donald Trump, David Pecker, Pecker, Trump, , ” Pecker, Michael Cohen, Karen McDougal’s, , Dino Sajudin, Cohen, Ben Carson, Ted Cruz, Marco Rubio, “ Michael Cohen, — Michael Cohen —, Hillary Clinton, Dylan Howard, we’re, Rupert Murdoch’s, Joe Biden, Biden Organizations: New York CNN, Democratic Party, National Enquirer, Trump Organization, Trump, GOP, Rupert Murdoch’s Fox News, MAGA Media, Fox, Fox News Locations: New York, Pecker, Manhattan
Depending on your tax bracket at the time of withdrawal, your 401(k) money could be taxed at around 20% or 30%. Note that if you have a Roth 401(k), which is funded with after-tax dollars, you won't be taxed when withdrawing. The longer you can wait to touch your 401(k) money, the longer you'll delay owing taxes. Finally, there's the "non-taxable portion," he said, which would be money in accounts like a Roth 401(k), Roth IRA, and HSA. Or do they have a Roth IRA that they can take it from tax-free to benefit them?"
Persons: , Grant Neiland, there's, you'd, Roth, Neiland, you've Organizations: Service, Business, Carson Wealth, IRS, Roth IRA
Here are takeaways from Tuesday’s day in court:Gag order hearing goes badly for TrumpMerchan issued the gag order before the trial began, limiting Trump from publicly discussing witnesses, the jury or the district attorney’s staff. Merchan expanded the order, which Trump has appealed, to cover his own family after Trump attacked his daughter. “It’s your client’s position that when he reposts he did not believe he was violating the gag order. Judge says Trump lawyers are ‘losing all credibility’Tensions continued to grow between Trump’s legal team and the trial judge during the gag order hearing. Pecker places Michael Cohen deep in the conspiracyPecker placed Cohen in the heart of the alleged “catch and kill conspiracy” Tuesday.
Persons: Juan Merchan, Donald Trump, David Pecker, Karen McDougal, Trump’s, Michael Cohen, Trump, , Stormy Daniels, Merchan, Todd Blanche, Blanche, Cohen, Michael Avenatti, Daniels, ” Merchan, , ” Blanche, reposts, “ You’ve, “ I’ve, You’ve, “ You’re, Josh Steinglass, Pecker, McDougal, Michael, ” Pecker, Stelter, wasn’t, “ Michael Cohen, Ted Cruz, ’ ” Pecker, Ben Carson, Marco Rubio Organizations: New, New York CNN, American Media Inc, Trump, Trump Merchan, Truth, AMI, CNN Locations: New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDespite last week's market drop, there was improvement under the surface: Carson Group's DetrickHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Carson Group's, Brian Sullivan, Organizations: CNBC
Despite economic challenges looming large — including prolonged downturns in both the housing and stock market — China’s fascination with luxury watches remains undiminished. Cyril Zingaro/WWGF/KeystoneCertainly at this year’s fair, well-dressed, well-accessorized Chinese customers appeared unfazed by economic uncertainties. After more than 20 years working in the region, he believes China’s economic slowdown is just a temporary phase. “The situation may be slightly (more) challenging for mid-level luxury brands (whose clients’ disposable incomes are potentially more at the whim of market forces). Collectors appreciate the craftsmanship, rarity, and heritage associated with luxury timepieces, which can hold or increase in value over time.
Persons: Matthieu Humair, Cyril Zingaro, Jackson Yee, Jaeger, Zhu Yilong, Wang Yang, Xiao Zhan, David Sadigh, Patek Philippe, Van Cleef, ” Sadigh, Valentin Flauraud, , Ricardo Guadalupe, “ We’ve, Pierre Albouy, Keystone Carson Chan, Richard Mille Asia, Bonhams, ” Chan, Raphael Young, Lange, Söhne, Wilhelm Schmid, Lumen, Chan, Vacheron, Young, Roger Dubuis, Dior, Louis Vuitton, Gucci — Chanel, Hermes, Hermès, Attelé, Chanel, Mademoiselle Chanel, Organizations: Geneva CNN —, Federation of, Swiss Watch Industry, IWC, Digital Luxury, CNN, Keystone, Fondation, , Berkley, Couture Locations: Geneva, China, Hong Kong, Asia, Switzerland, Chopard, Europe, , Asia — China, Guadalupe, Swiss, watchmaking
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSmall and mid caps will be the rotation out of tech, says Carson's Ryan DetrickRyan Detrick, Carson Group chief market strategist, joins 'Closing Bell' to discuss the markets and which sectors he sees being the next opportunity outside of tech.
Persons: Carson's Ryan Detrick Ryan Detrick Organizations: Carson Group
In front of rolling cameras and a crowd of nearly 300 guests, Prince Harry, Duke of Sussex, barreled toward one end of a polo field in South Florida on Friday. “The Duke of Sussex may score a goal!” an announcer cried through a loudspeaker at the Royal Salute Polo Challenge to Benefit Sentebale, which was attended by spectators including Serena Williams and Meghan, Duchess of Sussex, and by film crews with Netflix. The streamer is producing a polo-related project with Harry and Meghan that was announced on Thursday and that will be filmed in Wellington, an affluent area near Palm Beach known for its equestrian scene. The announcer and many in the crowd groaned audibly when Harry missed the shot. He was wearing a blue and white jersey with the No.
Persons: Prince Harry, Duke of Sussex, , Duke, Sussex, Serena Williams, Meghan, Duchess of Sussex, Harry Organizations: Royal, Netflix Locations: South Florida, Wellington, Palm, Lesotho, Botswana
Investors had lately been hoping the Fed might start easing back on policy starting in June, with three rate cuts penciled in for the year. But a robust labor market, as reflected in last week's March payrolls, and this latest consumer inflation data have pushed back that view. Markets now anticipate the first cut might come in September, with just two quarter-point reductions for the whole year. Even so, investors anticipate that markets may be able to take fewer rate cuts in stride so long as the Fed isn't actually forced to raise rates. Varghese still leans toward equities, expecting as many as three rate cuts this year, though he anticipates the first cut might not come until July now.
Persons: Federal Reserve doesn't, Stocks, isn't, Ayako Yoshioka, Yoshioka, Wolfe, Rob Ginsberg, Ginsberg, Sonu Varghese, Varghese, Powell, they're Organizations: Federal Reserve, Dow Jones, Nasdaq, Carson Group, CPI
To guard against stubborn inflation and higher-for-longer interest rates, investors should focus on quality companies with high pricing power and adjust their duration risk in bonds, according to Wall Street strategists and portfolio managers. Pricing power Companies with high pricing power tend to outperform when inflation is elevated because they have the ability to defend their profit margins by passing along higher costs to their end market customers. "In equities, you should prefer companies that have pricing power, i.e. "When inflation is the predominant risk in markets, correlations between stocks and traditional bonds tend to be high. BlackRock's iShares strategy team recently argued that investors should take advantage of spikes in bond yields while they can and reinvest their cash.
Persons: Stocks, Brad Conger, Sonu Varghese, Jason Pride, Pride, Rick Rieder Organizations: Dow Jones, Treasury, Street, Callaghan, Co, Big Tech, Carson Group, Securities, U.S ., Glenmede Trust Locations: Hirtle, BlackRock
Google just scored a big win in the AI talent war
  + stars: | 2024-04-03 | by ( Jyoti Mann | ) www.businessinsider.com   time to read: +3 min
Some observers say it's a big win for Google to secure OpenAI's "secret weapon." Kilpatrick's move comes as Big Tech firms vie for top expertise in an AI talent war. The move shows the transfer window of AI expertise is firmly open as Big Tech companies battle it out to lure top AI talent. Google AI Studio lets developers integrate Gemini with APIs to create generative AI applications that are also known as "wrappers". Intel's senior AI developers community lead, Ryan Carson, wrote on X: "Things are movin' and shakin' in the AI industry.
Persons: OpenAI's, Logan Kilpatrick, , OpenAI, he's, Mustafa Suleyman, Satya Nadella's, Bruce Monaco, Monaco, Kilpatrick, Ryan Carson, Logan, He's, Mark Zuckerberg, Google's, Sergey Brin, it's, Aravind Srinivas, who's Organizations: Google, Big Tech, Service, Studio, Microsoft, AI, Workers, Meta, Business Locations: OpenAI
Madonna and Barbra Are Fans. Broadway, Meet Lempicka.
  + stars: | 2024-04-01 | by ( Alexis Soloski | ) www.nytimes.com   time to read: +1 min
The playwright Carson Kreitzer specializes in difficult women, disparaged women, women who should be better known. But 14 years ago, when a friend suggested the painter Tamara de Lempicka as a potential subject, Kreitzer wasn’t initially enthusiastic. Flipping through the monograph, image after glossy image, Kreitzer realized that she already knew Lempicka’s brash, gleaming work. “Tamara made me a musical writer,” Kreitzer, who had never written a musical before, said in a recent phone interview. “She demanded it.”After years of development, “Lempicka,” a biomusical by Kreitzer (book and lyrics) and Matt Gould (book and music), opens on April 14 at Broadway’s Longacre Theater.
Persons: Carson Kreitzer, Tamara de Lempicka, Kreitzer wasn’t, Kreitzer, Van Cleef, “ Tamara, ” Kreitzer, , , Matt Gould Organizations: Broadway’s Longacre Locations: Van
Stock futures rose slightly on Sunday evening as Wall Street prepared for the start of the second quarter. Futures tied to the Dow Jones Industrial Average added 110 points, or 0.3%, while S&P 500 futures and Nasdaq-100 futures gained 0.3% and 0.5%, respectively. The personal consumption expenditures price index, released Friday during the market closure for Good Friday, showed inflation rose 2.8% in February, which is in line with expectations. The inflation gauge closely watched by the Federal Reserve also rose 0.3% from a month ago, the Commerce Department said. Ongoing bets on artificial intelligence stocks and tailwinds from Nvidia have continued powering the market higher in the new year after a strong 2023.
Persons: Giuseppe Sette, Ryan Detrick Organizations: Dow Jones, Nasdaq, Federal, Commerce Department, Fed, Dow, Nvidia, Federal Reserve, Carson Group
Increase in chronic absenteeism, 2019–23 By local child poverty rates By length of school closures By school district size By district racial makeup Source: Upshot analysis of data from Nat Malkus, American Enterprise Institute. Sara Miller, a counselor at South Anchorage High School for 20 years, now sees more absences from students across the socioeconomic spectrum. But after a visit from her school district, and starting therapy herself, she has settled into a new routine. Nationally, about 26 percent of students were considered chronically absent last school year, up from 15 percent before the pandemic. Kaylee Greenlee for The New York TimesThe Ypsilanti school district has tried a bit of everything, said the superintendent, Alena Zachery-Ross.
Persons: Nat Malkus, , Kaylee Greenlee, Katie Rosanbalm, , can’t, Adam Clark, Sara Miller, Miller, Ash Adams, Tracey Carson, Ashley Cooper, she’s, ’ ”, Cooper, Rosanbalm, Duke, Quintin Shepherd, The New York Times Quintin Shepherd, Shepherd, Michael A, Gottfried, , Nicholas Bloom, Lakisha Young, Charlene M, Russell, Tucker, Regina Murff, Sylvia Jarrus, Ann Arbor, Murff, Alena Zachery, Zachery Organizations: D.C, American Enterprise Institute, New York Times, The New York, Center of Child, Duke University, The New York Times, Missing, South Anchorage High School, University of Pennsylvania Graduate School of Education, Companies, Stanford University, Oakland Locations: Anchorage, Michigan, Washington, Victoria , Texas, Mt, Northern California, Hawaii, Mason , Ohio, Cincinnati, San Marcos , Texas, California, Connecticut, Ypsilanti, Mich, Ann, Ross
Wall Street could be in for another solid quarter as stocks have embarked on a strong start to the year. Specifically, in the second quarter, the S & P 500 was higher 9 out of 11 times, averaging a 2.7% gain. Significantly, two occurrences of those 10% first-quarter gains Detrick reviewed took place during election years, with the S & P 500 ending higher on the year. In 1976, the S & P 500 went on to register a 1.5% increase in the second quarter, and a 4.6% jump for the rest of the year. The Wall Street firm maintained its year-end S & P 500 target of 5,050, representing a 3.8% slide from Wednesday's close.
Persons: Ryan Detrick, We've, there'd, Detrick, CNBC's, Research's Sam Stovall, Stovall, Piper Sandler, Craig Johnson, Brian Nick, Nick, John Stoltzfus, Ayako Yoshioka, Yoshioka, CFRA's Stovall, FactSet Organizations: Nvidia, VanEck Semiconductor, Dow Jones, Carson Group, Macro, PMI, Manufacturing, ADP, Survey, Services PMI, Weston Holdings, Conagra Brands, Consumer Credit Locations: U.S
"The goal is usually to be as close to zero as possible: either a minimal return refund or a minimal tax payment. Where to save your money right now: high-yield or money market accountsOnce you've received your refund, a good initial step is to send that money from your checking account to a savings account. A few key differences: Your cash will be more accessible in a money market account, as you can write checks and use a debit card linked directly to the account. Note that money market accounts usually have a higher minimum balance requirement, ranging from a few hundred to a few thousand dollars. Interest rates are expected to drop in 2024, but you'll still earn more in these accounts than in traditional savings accounts, which typically offer rates under 0.5%.
Persons: Grant Nieland, you've, you'll, You'll, Roth, Nieland, we're Organizations: Business, Carson Wealth, IRS, Wealth, Roth IRA
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree rate cuts still plausible due to strong productivity, says Carson Group's Ryan DetrickRyan Detrick, Carson Group chief market strategist, joins 'Squawk Box' to discuss the latest market trends, why he believes the bull market is 'alive and well' and could keep charging higher, strength of the U.S. economy, the Fed's interest rate outlook, and more.
Persons: Carson Group's Ryan Detrick Ryan Detrick Organizations: Carson Group Locations: U.S
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