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☆ Here are other AI stocks vulnerable to profit taking as Druckenmiller sells some Nvidia
▼ + stars: | 2024-05-07 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

But the chipmaking darling is far from the only artificial intelligence stock that's run too far too fast. Elsewhere, Altimeter's Brad Gerstner eased his stake in the chipmaker and other winning technology stocks, he told CNBC's " Halftime Report ." Nvidia isn't the only AI play vulnerable to profit taking here. Of the group, Micron Technology shares trade at the most significant premium. Over the last year, shares have surged 493% and trade at a 185% premium to their five-year average PE.

Persons: Stanley Druckenmiller, CNBC's, Altimeter's Brad Gerstner, Druckenmiller, We've, Broadcom's Organizations: Nvidia, CNBC Pro, Devices, Micron Technology, Arm Holdings, Broadcom, Arista Networks, Applied Materials, KLA Corporation Locations: British

☆ The Fed 'shouldn't be using forward guidance,' says Ironsides Macroeconomics' Barry Knapp
▼ + stars: | 2024-05-07 | 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 EmailThe Fed 'shouldn't be using forward guidance,' says Ironsides Macroeconomics' Barry KnappBarry Knapp, director of research at Ironsides Macroeconomics, Paul McCulley, former PIMCO chief economist, and CNBC's Steve Liesman join 'The Exchange' to share outlooks on the Fed's rate stance.

Persons: Barry Knapp Barry Knapp, Paul McCulley, Steve Liesman

☆ Kristi Noem compares Trump to her 3-year-old granddaughter: 'He's full of surprises too'
▼ + stars: | 2024-05-07 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Kristi Noem paid an odd compliment to former President Donald Trump in her much-talked-about memoir. AdvertisementAs for Trump, Noem, who previously served in Congress before she was elected to lead the Mount Rushmore State, offered effusive praise for the former president throughout the book. "He really doesn't think he's better than anyone else," Noem wrote on Trump, a claim that even the former president might protest. "I love to watch her figure things out, in ways that grown-ups like me, would never consider, because that's just how we've always done things, Noem wrote.

Persons: —, Kristi Noem, Donald Trump, Miss Addie, Noem, Trump, Kim Jong Un, Joe Biden, that's Organizations: Service, Dakota Gov, Trump, Business, South Dakota Republican, North, Mount Rushmore State

☆ Schonfeld's Asia cohead is leaving the $10 billion firm's fast-growing outpost
▼ + stars: | 2024-05-07 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +2 min

Eric To is leaving the $10 billion New York-based multi-manager, people close to the firm told Business Insider. He was the cohead of APAC and head of APAC fundamental equity. This story is available exclusively to Business Insider subscribers. A person close to the firm told Business Insider that To's cohead, Chris Antonelli, will take over as the sole head of the Asia business going forward. In the five years To was there, this person noted, Schonfeld's Asia business expanded to Japan and Australia and nearly tripled its head count in the region.

Persons: —, Eric, Sol Kumin's, Chris Antonelli, Ken Organizations: Service, Business, Schonfeld, SAC Capital, Schonfeld's, Citadel Locations: York, Hong Kong, Folger Hill, Asia, Balyasny, Schonfeld's Asia, Japan, Australia, APAC

☆ Stanley Druckenmiller: The Fed should get rid of forward guidance and just do their job
▼ + stars: | 2024-05-07 | 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 EmailStanley Druckenmiller: The Fed should get rid of forward guidance and just do their jobStanley Druckenmiller, Duquesne Family Office chairman and CEO, joins 'Squawk Box' to discuss the state of the economy, the Fed's inflation fight, interest rate outlook, impact of AI technology, government spending and President Biden's economic policies, latest market trends, and more.

Persons: Stanley Druckenmiller Organizations: Duquesne Family

☆ Will China's comeback stock rally last? Wall Street weighs in and shares stock picks
▼ + stars: | 2024-05-07 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

China stocks have staged such a strong rally after a protracted slump for the past few years that they're beating even the S & P 500 so far this year. The MSCI China index, which includes the mainland A-shares, Hong Kong-listed shares and U.S.-listed China names, has jumped around 9%, while the KraneShares CSI China Internet ETF is up around 13%. Most analysts said whether the rally can be sustained will largely depend on China policy. How to play China Though most were bullish on China stocks, they would be selective in stock-picking. They include: SPDR S & P China ETF iShares MSCI China A ETF Global X MSCI China Consumer Disc ETF iShares MSCI Hong Kong ETF — CNBC's Michael Bloom contributed to this report.

Persons: Bernstein, it's, —, Goldman Sachs, Kevin Liu, CICC, Nomura's, Goldman, Kweichow, Ping, Morningstar, Michael Bloom Organizations: U.S, CSI China, Investors, CICC Research, CNBC, BYD, SAIC, Changan Automobile, Energy, Anhui, Cement, JPMorgan, Kuaishou, Ping An Insurance, China Merchants Bank, Hong, China, iShares, China Consumer Locations: China, Hong Kong

☆ Live Updates: Israeli Tanks Enter Rafah and Take Control of Border Crossing
▼ + stars: | 2024-05-07 | by ( Isabel Kershner | ) www.nytimes.com time to read: +4 min

The officials said that the changes were made by Arab mediators in consultation with William J. Burns, the C.I.A. Qatari and Egyptian mediators spoke with him on Monday about the changes that Hamas was ready to accept, the two officials said. Hamas said that Arab mediators had put forward the changes, but one official said that Hamas had suggested them. Mr. Netanyahu said last week that he would carry out an offensive in Rafah “with or without” an agreement. More than one million Palestinians have sought shelter in Rafah as they fled other parts of Gaza under attack by Israel.

Persons: William J, Burns, Israel, Benjamin Netanyahu, Netanyahu, Adam Rasgon Organizations: Hamas, U.S, Qatar’s, Ministry, Qatari Locations: Israel, United States, Gaza, Cairo, Rafah, Jerusalem

An income-driven repayment plan may be a good choice if you can't handle your monthly payments. The SAVE Plan is a simplified income-driven repayment (IDR) plan, which aims to provide more affordable student loan payments for borrowers with low to middle incomes. The SAVE Plan replaces the previous variations of IDR plans (Income-Contingent, Income-Based, Revised Pay As You Earn). The SAVE Plan calculates your payment based on a smaller percentage of your discretionary income compared to older IDR plans. Read more Read less Ryan Wangman, CEPF Loans Reporter Ryan Wangman was a reporter at Personal Finance Insider reporting on personal loans, student loans, student loan refinancing, debt consolidation, auto loans, RV loans, and boat loans.

Persons: Alexis Rhiannon Alexis Rhiannon, Read, Ryan Wangman Organizations: SAVE, Federal Stafford Loans, Unsubsidized Federal Stafford Loans, FFEL PLUS, Federal Perkins Loans, Student, Upright Citizens Brigade, Finance, Northwestern University, Boston Globe Locations: forbearance, Unsubsidized, Chevron, Los Angeles

☆ Big Tech's Alex Kantrowitz on the senate bill seeking to regulate big tech companies
▼ + stars: | 2024-05-07 | 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 EmailBig Tech's Alex Kantrowitz on the senate bill seeking to regulate big tech companiesAlex Kantrowitz, Big Tech founder, joins 'Power Lunch' to discuss the senate's bill hoping to regulate big tech companies and what it could mean for them moving forward.

Persons: Alex Kantrowitz Organizations: Big Tech

A number of private equity firms have been considering a buyout of Peloton as the connected fitness company looks to refinance its debt and get back to growth after 13 straight quarters of losses, CNBC has learned. A number of other private equity firms have been circling Peloton as an acquisition target, but it's unclear if they have held formal discussions. Last week, Peloton announced a broad restructuring plan that's expected to reduce its annual run-rate expenses by more than $200 million by the end of fiscal 2025. Last week, Peloton announced CEO Barry McCarthy would be stepping down as it issued a disastrous earnings report that missed Wall Street's expectations. One source close to the company said Peloton isn't expected to have any issues refinancing its debt.

Persons: Barry McCarthy, Goldman Sachs Organizations: Interactive, CNBC, JPMorgan Locations: New York

☆ Demonstrators Seize on Israeli Moves in Rafah to Rally Support
▼ + stars: | 2024-05-07 | by ( Yan Zhuang | ) www.nytimes.com time to read: +5 min

When tents went up amid the Gothic architecture on the University of Chicago’s quad on April 29, administrators initially took a permissive view. But that changed on Friday when negotiations between protesters and university leaders stalled, and the university’s president, Paul Alivisatos, wrote a letter saying demonstrators had violated policies and engaged in vandalism. “The encampment has created systematic disruption of campus,” said Dr. Alivisatos, a chemist who became president of the university in 2021. As part of its free speech philosophy, the university also put forward the principle of institutional neutrality. But the statement also describes clear limits, including a right to prohibit illegal activities and speech “that constitutes a genuine threat or harassment.”

Persons: Paul Alivisatos, ” “, ”, Alivisatos, “, counterprotesters, Brandon Johnson Organizations: University of Chicago, University of, Chicago, “, ” Locations: Chicago, Palestine

☆ Trump's Mar-a-Lago document trial has been delayed again. He now has a chance to dodge it entirely.
▼ + stars: | 2024-05-07 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

Donald Trump's Mar-a-Lago documents trial has been delayed indefinitely. AdvertisementThe judge overseeing Donald Trump's criminal case over his holding onto secret government documents following his presidency delayed the trial indefinitely — giving him the chance to get rid of the charges if he wins the 2024 election. Another criminal case overseen by Smith, in a federal court in Washington, DC, was previously scheduled for March 4. In that case, Smith alleged Trump broke criminal laws through his efforts to overturn the results of the 2020 election. Trump's attorneys have also made immunity arguments in the classified documents case.

Persons: Donald Trump's Mar, It's, —, Donald Trump's, Aileen Cannon, Cannon —, Trump, Carlos de Oliveira, Waltine Nauta —, Jack Smith, de Oliveira, Trump's, Stormy Daniels, — Trump, Smith, MANDEL NGAN, Fani Willis, Juan Merchan, Todd Blanche, Blanche, Merchan, reconvene, Cannon Organizations: Trump, Service, Nauta, Republican, Justice Department, US, Getty Images Locations: Lago, Manhattan, Washington ,, AFP, Getty Images Fulton County, Georgia, York, Florida, New York

☆ A US Navy aircraft carrier is rearmed and back in the Red Sea amid a Houthi missile crisis with no end in sight
▼ + stars: | 2024-05-07 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

Two US Navy warships on the front lines of the Houthi battle are back in the Red Sea. The USS Dwight D. Eisenhower and USS Gravely made a recent port visit in Greece. AdvertisementThe US Navy aircraft carrier that spent months battling the Houthis in the Red Sea is rearmed and back in the waterway after a short break. AdvertisementThe Nimitz-class aircraft carrier USS Dwight D. Eisenhower prepares to port in Souda Bay, Greece on April 28. While there may be no immediate end in sight to the Red Sea conflict, US officials have routinely stressed that American forces will continue to engage the Houthis.

Persons: Dwight D, Eisenhower, —, Arleigh Burke, Mercy Crowe, Ike, Marc Miguez, Miguez, Souda, Navy Carlos Del Toro, National Intelligence Avril Haines, Nicholas Rodriguez, Haines, Pat Ryder Organizations: US Navy, Navy, Service, Business, NATO, Nimitz, Mass Communication, Eisenhower Carrier Strike, Fighter Squadron, Eisenhower, US, National Intelligence, Armed Services, Department of Defense, Pentagon Press, Air Force Locations: Red, Greece, Souda Bay, Crete, Gulf, Aden, Yemen, Iran, Gaza, Israel

☆ How US presidential election years affect the market
▼ + stars: | 2024-05-07 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +5 min

But if the past century is any guide, the long-term consequences of US presidential election years on investor portfolios, including 401(k)s, is minimal at best. Unsurprisingly, those four presidential election years occurred at times of seismic events: The Great Depression. The S&P 500 alone has generated an average return of 7% during presidential election years since 1952, according to LPL Financial. If you limit that to presidential election years in which the incumbent president is running for reelection, the average jumps to 12.2%. “If you’re not going to make a change in a nonelection year, you shouldn’t do so in a presidential election year,” Mukherjee said.

Persons: TIAA, ”, Niladri Mukherjee, Jeff Buchbinder, Joe Biden, Donald Trump, ” Mukherjee, Mukherjee, What’s, — Mukherjee, you’re, Daniel Crosby, Crosby Organizations: New, New York CNN, US Bank, “, Senate Locations: New York, United States

☆ Shell and TotalEnergies listings: Europe risks losing its biggest oil companies to America
▼ + stars: | 2024-05-07 | by ( Anna Cooban | Hanna Ziady | ) edition.cnn.com time to read: +5 min

London CNN —Two of Europe’s biggest oil companies, Shell and TotalEnergies, are considering abandoning their stock exchanges for Wall Street in a move that would deal a hammer blow to London and Paris. Shares of TotalEnergies and Shell trade on a price-to-cash flow ratio of 4.7 and 5.2 respectively, compared with a ratio of 8.4 for Exxon Mobil (XOM) and 7.6 for Chevron (CVX). Alastair Syme, managing director of global energy equity research at Citi, says Shell and TotalEnergies have long traded at a discount. Investors would “be much more comfortable” buying European energy companies if they were part of the more valuable S&P 500 benchmark index of US equities, according to Syme. London languishesStill, the slightest hint that Shell may consider leaving London will have rattled the city’s beleaguered main stock exchange.

Persons: Britain’s Shell, France’s, Alastair Syme, Syme, Patrick Pouyanne, “, ”, Wael Sawan, Sawan, London languishes, Chris Beauchamp, Shell, TotalEnergies, New York “ would’ve, ” Lindsey Stewart, Ben van Beurden, ” Syme Organizations: London CNN, Shell, CAC, Exxon Mobil, Chevron, Citi, CNN, Investors, Bloomberg, London Stock Exchange, Nasdaq, BP, Morningstar, Financial, Commodities Locations: London, Paris, New York, Chevron, Europe, United States, Switzerland, “

It's not unusual to find Mint Mobile on sale — we have a roundup of the best Mint Mobile deals going year-round to catch every single discount available. Existing Mint Mobile Unlimited users can even look forward to an email with a promo code to redeem their streaming freebie as well. How to get the Mint Mobile Paramount Plus dealTo score free Paramount Plus Essential with your Mint Mobile, sign up for Mint Mobile Unlimited. The Mint Mobile Paramount Plus promotion is for new customers who sign up for a new Unlimited plan. Pricing aside, we found Mint Mobile to offer decent quality in our Mint Mobile review.

Persons: It's, you'll, you've, it's Organizations: Business, Paramount, Mint Mobile, Mobile, Mint, Mint Mobile Paramount, . Mint Mobile, Mint Mobile Paramount Plus, CBS

☆ Today's 'pain trade' is a rapidly rising market catching many investors off-guard
▼ + stars: | 2024-05-07 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

A rapidly rising market has caught a lot of investors off-guard. He loves to watch what he calls the "pain trade," the move in the markets that would catch the largest number of active investors off-guard. Surveying Monday's late-day rally on the floor, Anderson looked up at the NYSE boards and said, "the pain trade is up." The S & P 500 is now within 1.4% of its old closing high of 5,254 from March 28th. The STOXX Europe 600, essentially the S & P 500 of Europe, is also less than 1% below an historic high.

Persons: Tim Anderson, Anderson, It's, Nicholas Colas, DataTrek, Ingersoll Rand, Parker, Hannifin, it's, Alec Young, MAPsignals.com Organizations: MND Partners, NYSE, Nasdaq, Utilities, Reuters, Southern Company, EatoN Corp Locations: Europe, industrials

☆ Spanish bank Sabadell rejects $12.9 billion BBVA merger proposal
▼ + stars: | 2024-05-07 | by ( ) www.cnbc.com time to read: +3 min

Sabadell's board rejected a merger proposal by larger rival BBVA for a 12 billion euro ($12.93 billion) all-share merger, the Spanish lender said on Monday. Last week, BBVA had offered an exchange ratio of one newly issued BBVA share for every 4.83 Sabadell shares, a premium of 30% over April 29 closing prices. Since the indicative offer was announced by BBVA, Sabadell have risen 8.8% while shares in BBVA have fallen 9.7%. Taking into account Monday's closing share price, the premium would just be equivalent to 7.8%, valuing Sabadell at around 11 billion euros. The combined entity would also overtake Caixabank as the biggest domestic lender in Spain with over 625 billion euros in assets in the country, compared with Caixabank's just over 574 billion euros.

Persons: Sabadell's, Carlos Torres, Caixabank, Caixabank's Organizations: BBVA, Banco Sabadell, Sabadell, Santander Locations: Spanish, Madrid, Spain, Sabadell

☆ 'We have real, structural problems': Brace for geopolitical drama and another chaotic election season by hedging with commodities and buying a tiny stock with 500% upside, says a hedge fund manager up
▼ + stars: | 2024-05-07 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Read previewThe performance of hedge fund manager Harris Kupperman's Praetorian Capital Fund is proof that being pessimistic can pay off — even when the economy grows and stocks rise. Since launching at the start of 2019, Kupperman's fund is up an astounding 891.1% net of fees through March 31. AdvertisementBesides budget headaches, the hedge fund manager is wary of escalating political tensions at home and abroad. How to build a crisis-resistant portfolioThe hedge fund manager's blueprint for game plan scoring gains in a shaky backdrop with persistent inflation centers around commodities. A-Mark has consistently generated mid-single-digit earnings per share in recent years, though the hedge fund manager said that could easily rise to $10 as interest in precious metals rises.

Persons: —, Harris Kupperman's, , Kupperman, Washington, He's, there's, Precious Metals, Mark Organizations: Service, Capital Fund, Business Locations: cryptocurrencies, East, Ukraine, China

☆ Warren Buffett's Apple trim epitomizes one of Jim Cramer's major investing rules
▼ + stars: | 2024-05-07 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

Warren Buffett's reasons this weekend for trimming Berkshire Hathaway's massive Apple stake exemplify one of Jim Cramer's primary rules of investing. More recently, Jim steadfastly stood by his "own it, don't trade it" conviction as Apple shares went on a rough ride earlier this year. 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: Warren, Jim Cramer's, Jim, Buffett, Tim Cook, CNBC's Becky Quick, Cook, Becky, Jim likes Apple, Apple, Jim Cramer, Warren Buffett Organizations: Apple, Developers, CNBC, Berkshire Locations: Berkshire, Omaha , Nebraska

☆ Space Force Guardians became the first 'space cowboys' after completing the Army's rigorous spur ride challenges
▼ + stars: | 2024-05-07 | by ( Thomas Novelly | ) www.businessinsider.com time to read: +6 min

Three Space Force Guardians earned their spurs after finishing a series of rigorous combat tests. They completed the Army Cavalry Spur Ride, becoming the US military's first 'space cowboys.' AdvertisementA US Space Force spur ride candidate hydrates during a spur ride at Fort Bliss, Texas. AdvertisementUS Space Force spur ride candidates move a litter with a BGM-71 TOW, low crawling through the sand at Fort Bliss, Texas. A US Space Force spur ride candidate takes a breather before continuing through an obstacle during a spur ride at Fort Bliss, Texas.

Persons: —, Bliss, Bradley Evans, Military.com, Evans, David Poleski, Jordan Savage, Savage, Jackson Jennings, Dan Reynolds, there's, It's, I'm Organizations: Space Force Guardians, Army Cavalry, US, Service, Stetson, Army, Space Force, White, Guardians, Spc, Space Systems Command, Garmin, Force, US Space Force, Fort, Space Force Guardian, Ranger, — Locations: West Texas, El Paso , Texas, Fort Bliss , Texas, Los Angeles, rucking, Fort Jackson, South Carolina

☆ Judge threatens Trump with contempt for 'cursing audibly' during Stormy Daniels testimony, new trial transcript shows
▼ + stars: | 2024-05-07 | by ( Jacob Shamsian | Laura Italiano | ) www.businessinsider.com time to read: +6 min

In a private sidebar conversation, Donald Trump's hush-money judge said he acted out while Stormy Daniels testified. Trump was "cursing audibly" and "uttered a vulgarity" while Daniels answered questions for jurors, the judge said. "I understand that your client is upset at this point, but he is cursing audibly, and he is shaking his head visually and that's contemptuous," Merchan told Trump's lawyer Todd Blanche. AdvertisementDonald Trump was "cursing audibly" during testimony from Stormy Daniels, according to New York Supreme Court Justice Juan Merchan. The judge also said Trump "uttered a vulgarity" when Daniels testified about "The Apprentice."

Persons: Donald Trump's, Stormy Daniels, Trump, audibly, Daniels, —, Juan Merchan, Merchan, Todd Blanche, Donald Trump, Susan Hoffinger, Hoffinger, Blanche, Jean Carroll's, Lewis Kaplan, Carroll, Kaplan Organizations: Service, New, Trump, New York, NBC Locations: Lake Tahoe , California, New, Manhattan, Trump's

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Target, Gap, Nike, Palantir, Goldman Sachs & more
▼ + stars: | 2024-05-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +4 min

Goldman Sachs reiterates Nvidia as buy Goldman said it sees a "favorable" risk/reward for shares of Nvidia. Goldman Sachs reiterates ServiceNow as buy Goldman said it's standing by its buy rating on the stock following its financial analyst day. Bank of America reiterates Palantir as buy Bank of America said it's sticking with its buy rating after the company released earnings on Monday. Wells Fargo reiterates Goldman Sachs as overweight Wells increased its price target on Goldman to $504 per share from $450. price target."

Persons: TGT, Goldman Sachs, Goldman, ServiceNow, Wells, Palantir, Wolfe, TD Cowen, Ares, Cowen Organizations: Citi, Target, Nvidia, UBS, Vale, Bank of America, Apple, UL, tailwinds, Artificial Intelligence, Nike, Cameco, Nike Inc, Barclays, CVS Locations: Las Vegas

☆ Israeli forces take control of the Gaza side of the Rafah border crossing with Egypt
▼ + stars: | 2024-05-07 | by ( ) www.cnbc.com time to read: +3 min

An Israeli tank brigade seized control Tuesday of the Gaza Strip side of the Rafah border crossing with Egypt, authorities said, moving forward with an offensive in the southern city even as cease-fire negotiations with Hamas remain on a knife's edge. The Israeli 401st Brigade entered the Rafah crossing early Tuesday morning, the Israeli military said, taking "operational control" of the crucial crossing. Footage released by the Israeli military showed a tank entering the crossing. The Israeli military claimed it seized the crossing after receiving intelligence it was "being used for terrorist purposes." Wael Abu Omar, a spokesman for the Palestinian Crossings Authority, acknowledged Israeli forces had seized the crossing and had closed the facility for the time being.

Persons: brinkmanship, Wael Abu Omar, Israel that's Organizations: Palestinian, Hamas, Israeli 401st Brigade, Palestinian Crossings Authority, Egyptian Foreign Ministry Locations: Rafah, Gaza, Israel, Israeli, Egypt, Kerem, Wael, United States

☆ Stocks are primed to tumble into a bear market as bullish investors have driven equities to 1929 extremes, famed fund manager says
▼ + stars: | 2024-05-07 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The stock market looks poised to fall from its extreme heights, legendary investor John Hussman said. Hussman said the stock market is mirroring the extremes leading up the 1929 crash. The S&P 500 has broken a series of record highs this year, and has regained momentum in recent days after a lackluster month in April. AdvertisementHussman's firm is expecting the S&P 500 to underperform Treasury bonds by 9.3% a year for the next 12 years, based on his firm's internal metrics. Just 39% of investors said they were bullish on stocks over the next 6 months, according to the AAII's latest Investor Sentiment Survey.

Persons: John Hussman, Hussman, he's, — Organizations: Service, Investment Trust, Investor

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