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NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUS stocks closed higher on Friday to end the best week since November, with tech rallying after earnings from mega-cap stalwarts. Instead, traders focused mostly on earnings strength from Alphabet and Microsoft. In a Friday note, Fundstrat's Mark Newton pointed out that the earnings of Alphabet and Microsoft are paving the way for a broad rally. Next week, Apple and Amazon, will release earnings and investors will be focused on the Fed's next policy meeting scheduled for April 30-May 1.
Persons: , Fundstrat's Mark Newton, Savita Subramanian, we're, it's, Subramanian Organizations: Microsoft, Service, Federal, Amazon, Nvidia, Technology, Bank of, CNBC, Apple, Dow Locations: Here's
Treasury yields ease slightly ahead of key inflation data
  + stars: | 2024-04-26 | by ( Sophie Kiderlin | In | ) www.cnbc.com   time to read: +1 min
ET, the 10-year Treasury was down by over three basis points to 4.6754%. The yield on the 2-year Treasury was last more than one basis point lower at 4.9850%. U.S. Treasury yields fell on Friday as investors digested Thursday's gross domestic product report and looked ahead to the release of key inflation figures. The yields on the 10-year Treasury and 2-year Treasury had soared to their highest levels since November on Thursday, following the release of a weaker-than-expected U.S. gross domestic product reading. Fresh inflation insights are expected Friday in form of the personal consumption expenditures price index, the Fed's favored inflation gauge.
Persons: Dow Jones Organizations: Treasury, U.S, Federal Reserve, PCE
Inflation showed little signs of letting up in March, with a key barometer the Federal Reserve watches closely showing that price pressures remain elevated. The personal consumption expenditures price index excluding food and energy increased 2.8% from a year ago in March, the same as in February, the Commerce Department reported Friday. Including food and energy, the all-items PCE price gauge increased 2.7%, compared to the 2.6% estimate. The Fed targets 2% inflation, a level that core PCE has been above for the past three years. Services prices increased 0.4% on the month while goods were up 0.1%, reflecting a swing back in consumer prices as goods inflation dominated since the early days of the Covid pandemic.
Persons: Dow Jones, George Mateyo Organizations: Reserve, Commerce Department, Dow, Treasury, Key Wealth, Fed, Labor Department
On top of that, the latest U.S. jobs market scorecard will be released along with more mega-cap earnings. This week, the U.S. 10-year Treasury yield briefly climbed above 4.7% for the first time since November. That's down sharply from the six or seven rate cuts investors were anticipating coming into the year. April jobs Investors will also get an update on the labor picture next week, with the release of the April nonfarm payrolls report set for Friday. Corporate earnings season will also ramp up in the week ahead with a slew of consumer-facing companies set to report.
Persons: Stocks, Powell, David Alcaly, Jerome Powell's, we've, they're, Brian Nick, Matt Stucky, it's, Stucky, Dow Jones, Nick, Archer, Eli Lilly, Kraft, Estee, Ingersoll Rand, Stanley Black, Decker, Hershey Organizations: Nasdaq, Google, Microsoft, Treasury, Lazard Asset Management, Macro, Northwestern Mutual Wealth Management Company, Fed, Apple, Micro Computer, Dallas Fed, Paramount, ON Semiconductor, Chicago PMI, Prudential Financial, Devices, Storage, Diamondback Energy, Caesars Entertainment, Corning, Daniels, Midland, Molson Coors Beverage, Marathon Petroleum, GE Healthcare Technologies, PayPal, ADP, P Global, Manufacturing, Oil, MGM Resorts International, Allstate, Etsy, eBay, Qualcomm, MetLife, First, Devon Energy, Cruise Line Holdings, Brands, Marriott International, Kraft Heinz, Pfizer, Companies, CVS Health, Generac, Mastercard, Labor, Nation Entertainment, Booking Holdings, Natural Resources, Motorola Solutions, Expedia, EOG, Coterra Energy, Dominion Energy, Howmet Aerospace, ConocoPhillips, Moderna, PMI, Services PMI Locations: U.S, Chicago, McDonald's, Albemarle, EOG Resources
The 2-year Treasury yield was last at 4.9248% after dipping by just over one basis point. U.S. Treasury yields fell slightly on Thursday as investors looked ahead to key economic data points that could inform the path ahead for interest rates. Investors awaited gross domestic product and inflation insights due Thursday and Friday, respectively. The data could inform how Federal Reserve policymakers think about monetary policy and what decisions they come to regarding the outlook for interest rates. Markets are widely expecting interest rates to remain unchanged then, with traders last pricing in the first rate cut for September according to CME Group's FedWatch tool.
Persons: Dow Jones Organizations: Treasury, U.S, PCE
A view of oil-well in action during sunset at Elk Hills Oil Field as gas prices on the rise in California, United States on April 14, 2024. Crude oil futures pulled back Thursday after U.S. economic growth disappointed. Slower economic growth can weigh on crude oil demand. Here are today's energy prices:Oil prices closed lower Wednesday as Goldman Sachs saw a slightly bearish market with global inventories on the rise. U.S. crude is up 1% this week while Brent has fallen 0.2%.
Persons: Gross, Dow Jones, Goldman Sachs, Brent Locations: Elk, California, United States, U.S
Traders work on the floor of the New York Stock Exchange during afternoon trading on April 9, 2024. Stock futures fell sharply Thursday after the latest U.S. economic data showed a sharp slowdown in growth and pointed to persistent inflation. Futures tied to the Dow Jones Industrial Average fell 419 points or 1.1%. Along with the downbeat growth rate for the quarter, the report showed consumer prices increased at a 3.4% pace, well above the previous quarter's 1.8% advance. Following the GDP print, traders moved down expectations for an easing of Federal Reserve monetary policy.
Persons: Dow Jones, Chris Larkin, Morgan Stanley Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Treasury, Dow, Federal Reserve, Federal, Traders
While a market correction can be bad for a portfolio, CNBC Pro has some ideas for how to weather a downturn. The average analyst surveyed by LSEG also has a buy rating with an upside showing shares can rally about 18% in the next year. In addition to having a buy rating, the typical analyst polled by LSEG anticipates shares climbing nearly 21%. It also has the second-highest earnings per share growth rate at nearly 265%. But the average analyst has a buy rating on the stock with a price target suggesting shares can jump nearly 16%, per LSEG.
Persons: catalyzing, Ventas, LSEG, Steve Sakwa, Sakwa Organizations: CNBC Pro, Gross, Dow Jones Industrial, Nasdaq, Resorts
Here's why Thursday's post-GDP sell-off may be overdone
  + stars: | 2024-04-25 | by ( Sarah Min | ) www.cnbc.com   time to read: +4 min
Stocks sold off Thursday aHoweverfter the latest economic data came in weaker than expected, but some observers say that the reaction was overdone. While the headline GDP number missed expectations, it nevertheless showed economic growth the Fed could take in stride, they say. He noted that the core parts of GDP, such as consumption growth and residential growth, were "quite good." "Stagflation is a combination of stagnant growth and high inflation," Nick continued. "I think the earnings backdrop has been very supportive," Lee told CNBC's " Closing Bell " on Thursday.
Persons: Stocks, Dow Jones, Chris Zaccarelli, Brian Nick, Nick, we're, Rob Ginsberg, Ginsberg, Fundstrat's Tom Lee, Lee, CNBC's, Jeff Cox Organizations: Federal Reserve, Independent, Alliance, Dow Jones, Treasury, Macro, Wolfe Research Locations: U.S
Consumer spending increased 2.5% in the period, down from a 3.3% gain in the fourth quarter and below the 3% Wall Street estimate. Net exports subtracted 0.86 percentage point from the growth rate while consumer spending contributed 1.68 percentage points. Excluding food and energy, core PCE prices rose at a 3.7% rate, both well above the Fed's 2% target. Income adjusted for taxes and inflation rose 1.1% for the period, down from 2%. Services spending increased 4%, its highest quarterly level since Q3 of 2021.
Persons: Dow Jones, Jeffrey Roach Organizations: Gross, department's, Analysis, Commerce Department, Federal, Dow Jones, Treasury, Federal Reserve, LPL, Labor Department
Commentators pointed out that the data was still mostly strong but inflation is problematic. 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 . AdvertisementStocks fell on Thursday, with the Dow Jones Industrial Average losing 375 points as the market took in weaker-than-expected economic data. Savings rates are falling as sticky inflation puts greater pressure on the consumer," LPL Financial chief economist Jeffrey Roach said.
Persons: , Stocks, Jeffrey Roach Organizations: Service, Dow Jones Industrial, Reserve, Barclays, Bank of America, PCE, Financial, Treasury, Meta, Microsoft, Google
Stock futures rose in overnight trading Thursday as Big Tech names Alphabet and Microsoft saw shares rally on strong earnings. S&P 500 futures climbed 0.9% and Nasdaq 100 futures popped 1.2%. The blue-chip Dow slid 375 points Thursday, while the S&P 500 and the Nasdaq Composite dropped 0.5% and 0.6%, respectively. The S&P 500 is up 1.6% week to date, on pace to break a three-week losing streak. So far, about 38% of the S&P 500 companies have reported quarterly results, and nearly 80% of those beat earnings expectations.
Persons: Dow, Thursday's, Dow Jones, Bill Adams Organizations: New York Stock Exchange, Big Tech, Microsoft, Dow Jones Industrial, Nasdaq, Gross, Dow, Comerica Bank, Chevron, Exxon Mobil
Economists polled by Dow Jones forecast GDP growth would come in at 2.4%. Tech tumbleThe lackluster GDP added further pressure to an already-tense market contending with concerns over a pullback in growth among technology earnings. "This report was the worst of both worlds: economic growth is slowing and inflationary pressures are persisting," wrote Chris Zaccarelli, investment chief at Independent Advisor Alliance. Investors are hoping the PCE report, which is the Fed's preferred measure of inflation, will show an improvement in pricing pressures after the March consumer inflation report came in hotter than expected. — Brian Evans8:58 a.m.: 10-year Treasury yield jumps to highest level since NovemberThe 10-year Treasury yield broke above 4.7% following the GDP report, hitting its highest level since November.
Persons: Johannes Eisele, Dow Jones, Chris Larkin, Morgan Stanley, Meta, Thierry Wizman, UnitedHealth, Alex Harring, Mark Zuckerberg's, Hakyung Kim, Fred Imbert, Chris Zaccarelli, Sarah Min, — Brian Evans, — Jesse Pound Organizations: New York Stock Exchange, AFP, Getty, Dow Jones, Caterpillar, IBM, Nasdaq, Dow, Federal Reserve, Federal, Traders, Meta, Business Machines, FX, Macquarie, Microsoft, Amazon, Merck, York Stock Exchange, Independent, Alliance, Investors, Treasury, Gross
Meanwhile, Nasdaq futures rose 0.6% and S&P 500 futures ticked up 0.2%. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTesla's stock rallied before the opening bell on Wednesday as investors reacted to the electric car maker's first-quarter earnings report. The gains came after Tesla's earnings of $0.45 per share for the three months ending March 31 missed analysts' expectations. AdvertisementMeanwhile, US stocks looked set to start the day in the green, with S&P 500 futures up 0.2% and Nasdaq 100 futures climbing 0.6%.
Persons: Tesla, , Sophie Lund, Yates, Hargreaves Lansdown's, Tesla's, It's Organizations: Nasdaq, Service, Dow Jones Industrial
Stocks hit a rough patch after the Club's March Monthly Meeting as Wall Street grappled with increasing odds of higher-for-longer interest rates. Here are our five top-performing stocks since the March Monthly Meeting. WFC YTD mountain Wells Fargo (WFC) year-to-date performance Wells Fargo led the way, with shares jumping 5.8% over the period. GOOGL YTD mountain Alphabet (GOOGL) year-to-date performance Alphabet stock rose 4.9% since the March Monthly Meeting, placing the Google parent in second place on the gainers list. EL YTD mountain Estee Lauder (EL) year-to-date performance Estee Lauder stock added 2.7% since the March Monthly Meeting, occupying the fourth spot on our list.
Persons: Stocks, Wells Fargo, Jim Cramer, Wells, Jim, he's, Lauder, Estee Lauder, Estee, Fabrizio Freda, Freda, Jim Cramer's, Dow, Spencer Platt Organizations: Dow Jones, Nasdaq, Club, Google, Big Tech, Palo Alto Networks, Bank of America, Citigroup, CNBC, Traders, New York Stock Exchange, Getty Locations: Wells, buybacks, Palo, Alto, New York City
US stocks rose on Wednesday as traders took in corporate earnings reports. Tech stocks have gained, with Tesla popping over 10% in early morning trading. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUS stocks were mostly higher on Wednesday as traders took in a slew of corporate earnings. Investors have been enjoying a relatively upbeat corporate earnings season thus dar.
Persons: Tesla, , financials Organizations: Tech, Microsoft, Service, Nasdaq, Dow Jones Industrial, Here's Locations: FactSet
Traders work on the floor of the New York Stock Exchange during afternoon trading on April 09, 2024 in New York City. U.S. stock futures fell on Wednesday night after tech juggernaut Meta Platforms reported its latest quarterly results. S&P 500 futures slid 0.6%, and Nasdaq 100 futures dropped 1.1%. Meta Platforms plunged 15% in extended trading after the social media giant issued second-quarter revenue guidance that was lighter than expected. Fed funds futures trading suggests the first cut could take place at the September Fed meeting, according to CME FedWatch Tool.
Persons: Dow Jones, Anastasia Amoroso, Northrop Grumman, Myers Squibb Organizations: New York Stock Exchange, Traders, Dow Jones, Nasdaq, Business Machines, Dow, Federal, FedWatch, Caterpillar, Honeywell, Northrop, American Airlines, Comcast, Merck, Bristol, Myers, CNBC Locations: New York City . U.S
Gross domestic product, the sum of all goods and services produced across the sprawling U.S. economy, is expected to post a 2.4% annualized growth rate for the first quarter, according to the Dow Jones consensus forecast. If that estimate is accurate, it would mark a step down from the 3.4% growth rate in the fourth quarter of 2023 and just a touch less than last year's 2.5% full-year growth rate. "The U.S. economy is still very resilient, supported by a solid labor market that continues to support robust income growth and in turn, consumer spending activity," EY-Parthenon chief economist Gregory Daco said. "We are seeing a little bit of cooling in terms of the consumer spending momentum. But there isn't any form of retrenchment that would be alarming in terms of future income trends and in terms of future consumer spending trends."
Persons: Dow, Gregory Daco, Daco, Goldman Sachs, Goldman, Spencer Hill Organizations: Wall, Gross, Atlanta Federal, Commerce, Commerce Department Locations: U.S, Atlanta
ET, the yield on the 10-year Treasury was down by less than one basis point to 4.6189%. The yield on the 2-year Treasury was last at 4.9805% after rising by less than one basis point. U.S. Treasury yields were little changed on Tuesday as investors awaited fresh economic data that could provide insights into the state of the economy. Economists polled by Dow Jones are expecting a 1.2% rise for the month after the figure had declined 0.3% in February. Investors will be assessing this week's data for clues about whether the economy is continuing to prove resilient and whether inflationary pressures remain sticky.
Persons: Dow Jones Organizations: Treasury, Federal
Tesla is set to kick off Big Tech earnings season after the closing bell. AdvertisementUS stocks looked set to open higher at the opening bell on Tuesday, as traders waited for Tesla to kick off a make-or-break Magnificent Seven earnings season. Analysts are expecting Tesla to post earnings of $0.44 per share for the three months ending March 31, according to data from Refinitiv. "Big tech kicks off with Tesla results this evening," Sophie Lund-Yates, Hargreaves Lansdown's lead equity analyst, said. General Motors, Spotify, and Visa are among the other companies set to report earnings on Tuesday.
Persons: Tesla, , Sophie Lund, Yates, Hargreaves Lansdown's Organizations: Big Tech, Elon Musk's, Service, Nasdaq, Dow Jones Industrial, Motors, Spotify, Visa Locations: Elon
Traders work on the floor during morning trading at the New York Stock Exchange on Jan. 31, 2024. S&P 500 futures edged higher Tuesday night as investors parsed the latest financial releases from corporate America. Futures tied to the broad index advanced 0.1%, while Nasdaq 100 futures popped 0.4%. Tuesday marked a second straight winning day for the broad S&P 500 and tech-heavy Nasdaq Composite , which continued recovering from their recent losing streaks. The blue-chip Dow closed the session more than 260 points higher, or nearly 0.7%, while the S&P 500 and Nasdaq each gained more than 1%.
Persons: Tesla, Jay Hatfield Organizations: New York Stock Exchange, America, Futures, Nasdaq, Dow Jones Industrial, Visa, Texas Instruments, Dow, Infrastructure Capital Advisors, Wednesday, Boeing, Hasbro, Meta, Ford, IBM
Treasury yields dip: In addition to earnings, the other part of the market's gauntlet this week is a trio of huge Treasury auctions. The PMI data was softer than expected, confirming signs of the economic "brown shoots" that Jim Cramer has recently been flagging. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Jim, Jim Cramer's Organizations: CNBC, Nasdaq, Dow Jones, Treasury, P Global, PMI, Federal, Amazon, Foods, Apple, Developers, Tesla, Enphase, Texas, Boeing, Boston Scientific, Otis Worldwide, Jim Cramer's Charitable Locations: Enphase Energy, Humana
U.S. stock futures were little changed on Monday night after the S&P 500 snapped a six-day losing streak, buoyed by a rebound in tech stocks. S&P 500 futures gained 0.02%, while Nasdaq 100 futures slid 0.06%. The S&P 500 advanced 0.87%, while the Nasdaq Composite climbed 1.11%. Both the S&P 500 and Nasdaq ended a six-day losing run. Information technology was the best-performing S&P 500 sector on Monday.
Persons: Ayako Yoshioka, CNBC's, Yoshioka Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Investors, Dow, Nvidia, Traders, Microsoft
As the busiest week for first quarter earnings results kicks off, several stocks on the docket to report this week may be poised for big swings. As of last Friday, 74% of companies in the S & P 500 reported a positive earnings surprise while 58% beat revenue expectations, according to FactSet. This week is scheduled to be the busiest one of the season, with 29% of companies in the S & P 500 — or 146 companies — due to post results. With so many corporate results to be released this week, investors may want to pay special attention to some earnings more than others in advance. CNBC Pro screened for the stocks that could see significant post-earnings moves either up or down, based on investors' expectations in the options market.
Persons: AllianceBernstein, Mark Shmulik, Shmulik, Jamie Baker, Morgan Stanley, Benjamin Swinburne Organizations: Dow Jones, CNBC Pro, JetBlue, American Airlines, JPMorgan, Spotify Locations: Stockholm
US stock futures climbed in premarket trading on Monday ahead of a big week of earnings reports. US GDP and inflation data could also move markets this week. 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 . AdvertisementInvestors will hope that the tech giants can give the market a much-needed boost, with artificial intelligence likely to be in focus.
Persons: Tesla, , Johnson, Kathleen Brooks Organizations: Microsoft, Service, Nasdaq, Dow Jones, ExxonMobil, Johnson
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