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All three major averages see record closing highs
  + stars: | 2024-05-15 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAll three major averages see record closing highsBarbara Doran, BD8 Capital Partners CIO, and Eric Freedman, U.S. Bank Asset Management CIO, join 'Closing Bell Overtime' to talk the day's record market action.
Persons: Barbara Doran, Eric Freedman Organizations: BD8 Capital, Bank Asset Management
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
(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
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 S&P 500 is up nearly 19% year-to-date and closed on Thursday at 4,534.87, only about 6% below an all-time high reached in January 2022. What the Fed does and says next week will be critical," said Cliff Corso, chief investment officer at Advisors Asset Management. "Bearish investors have had to capitulate," said Liz Ann Sonders, chief investment strategist at Charles Schwab. The bank last month raised its year-end S&P 500 target to 4,500, from 4,000. However, Christopher Tsai, chief investment officer at Tsai Capital, is not worried about buying into an overvalued market.
Persons: Cliff Corso, Jonathan Golub, Tom Lee, Ed Yardeni, Liz Ann Sonders, Charles Schwab, Eric Freedman, Goldman Sachs, Sunitha Thomas, We've, Christopher Tsai, David Randall, Saqib Iqbal Ahmed, Ira Iosebashvili, Richard Chang Organizations: YORK, Federal Reserve, Fed, Asset Management, Jonathan Golub of Credit Suisse, Fundstrat Global, Yardeni Research, National Association of Active Investment, U.S, Bank Wealth Management, Consumers, Northern Trust, Tsai, MSCI Inc, Zoetis Inc, Thomson Locations: U.S, Jonathan Golub of
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.
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.
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