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☆ Nvidia has 'remarkably high' standards to beat ahead, says Harbor Capital's Jake Schurmeier
▼ + stars: | 2024-03-14 | 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 EmailNvidia has 'remarkably high' standards to beat ahead, says Harbor Capital's Jake SchurmeierJake Schurmeier, Harbor Capital Advisors portfolio manager, joins 'The Exchange' to discuss the future outlook on Nvidia's stock, whether tech stocks may represent a bubble, and more.

Persons: Jake Schurmeier Jake Schurmeier Organizations: Nvidia, Harbor Capital Advisors

☆ The likelihood of fewer than three rate cuts in 2024: Here's what you need to know
▼ + stars: | 2024-03-14 | 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 likelihood of fewer than three rate cuts in 2024: Here's what you need to knowJake Schurmeier, Harbor Capital Advisors portfolio manager, and CNBC's Steve Liesman join 'The Exchange' to discuss the potential timing of Fed rate cuts, the relationships between equity markets and inflation, and more.

Persons: Jake Schurmeier, Steve Liesman Organizations: Harbor Capital Advisors

Rates futures markets are showing cuts being priced as early as May 2024, according to LSEG data. The prospects for rate cuts received a boost on Tuesday after Fed Governor Christopher Waller, deemed a hawk, hinted at lower interest rates in the months ahead if inflation continued to ease. Deutsche Bank economists on Monday projected 175 basis points in Fed rate cuts in 2024, but said that those cuts would come with a mild recession in the first half of next year. “Absent rapid Fed easing, we expect a more challenging macro backdrop for stocks next year,” they wrote in a Wednesday report. Others said investors may be overestimating how quickly the Fed might react to signs of slowing inflation.

Persons: Carlo Allegri, Jack Ablin, ” Ablin, Christopher Waller, ”, Jake Schurmeier, Schurmeier, Thomas Barkin, Charlie McElligott, Michael Green, David Randall, Lewis Krauskopf, Saqib Iqbal Ahmed, Ira Iosebashvili, Andrea Ricci Organizations: REUTERS, Federal Reserve, Treasury, Cresset, Gross, Harbor, Reuters, Richmond Fed, Nomura Securities, Deutsche Bank, JPMorgan, Management, Thomson Locations: Manhattan, New York City , New York, U.S, stoke, Carolina, New York

Jobs growth for September nearly doubled expectations as nonfarm payrolls increased by 336,000 for the month, strengthening views that policymakers will need to keep interest rates elevated to cool inflation. Treasury yields move inversely to bond prices. “It’s quite a report,” said Peter Cardillo, chief market economist at Spartan Capital Securities. On the long end of the curve, 30-year yields surged above 5% hitting their highest since 2007. However, Craig Ellinger, head of Americas fixed income at UBS Asset Management, believes more rate increases could be in store.

Persons: Dado Ruvic, ”, Peter Cardillo, Jake Schurmeier, ” Alex McGrath, Tiffany Wilding, Craig Ellinger, Ellinger, Davide Barbuscia, David Randall, Saqib Iqbal Ahmed, Stephen Culp, Sruthi Shankar, Ira Iosebashvili, Chizu Nomiyama, Diane Craft Organizations: REUTERS, U.S, Treasury, Federal Reserve, Spartan Capital Securities, Harbor Capital, ADP, Fed, UBS Asset Management, Thomson Locations: Treasuries, Americas

NEW YORK, Sept 27 (Reuters) - As the Federal Reserve’s hawkish stance boosts Treasury yields and slams stocks, some investors are preparing for more pain ahead. AQR's analysis showed that trend-following hedge funds tend to outperform when rates are elevated, as they hold large cash positions that benefit from higher rates. Of course, plenty of investors believe the Fed will cut rates as soon as economic growth starts to wobble. Futures tied to the Fed’s key policy rate show investors pricing in the first rate cut in July 2024. Still, he has been holding off on adding to the firm’s holdings of small-cap consumer stocks, wary there may be more market volatility ahead as investors digest higher rates and other factors, including elevated energy prices.

Persons: ”, Jake Schurmeier, Dan Villalon, Keith Lerner, Lerner, Robert Pavlik, Schurmeier, he’s, Eric Kuby, Lewis Krauskopf, David Randall, Carolina, Ira Iosebashvili, Leslie Adler Organizations: Fed, Apple, Nvidia, Treasury, U.S ., Harbor Capital Advisors, AQR Capital Management, Advisory Services, Reuters, Dakota Wealth Management, BofA Global Research, Nasdaq, North Star Investment Management Corp, Thomson Locations: Harbor

☆ A recession is only delayed as the economy continues to lose steam. Here's exactly how 8 top strategists and money managers recommend investing in this turbulent market.
▼ + stars: | 2023-08-16 | by ( James Faris | ) www.businessinsider.com time to read: +9 min

Now, the inverse has happened as stocks rally, inflation steadily falls, and the labor market stays healthy. By any historical measure, this is still a really strong labor market," he said. "There's a lot of market concern — understandably so — about the sustainability of the strong labor market," Porter said. "There are clear signs that we're weakening at the margin," Schurmeier said of the labor market. "And they're able to thread the needle on the other part of their mandate, which is the labor market."

Persons: John Porter, Jason Draho, Porter, David Lebovitz, Lebovitz, they're, Draho, Jonathan Curtis, Curtis, Brent Schutte, Schutte, Jake Schurmeier, Schurmeier, they'll, shouldn't, Charles Lemonides, Lemonides, Greg Calnon, Calnon, Franklin Equity Group's Curtis, he's Organizations: Newton Investment Management, UBS Global Wealth, Asset Management, Franklin Equity Group, Workers, Northwestern, Harbor Capital Advisors, Fed, Goldman Sachs Asset Management, Franklin Equity

☆ Slowing US inflation shifts investor focus to earnings season
▼ + stars: | 2023-04-12 | by ( David Randall | ) www.reuters.com time to read: +4 min

Wednesday’s data showed consumer prices growing at a slower pace than expected last month, bolstering the argument that inflation is decelerating. Yet some investors believe markets may have already accounted for a mild inflation slowdown and say further gains in stocks could depend on whether upcoming corporate earnings - especially results from banks - can beat forecasts. Earnings per share for the six largest U.S. banks are expected to fall 10% from the same quarter last year, according to Refinitv data. Overall, analysts expect S&P 500 earnings to fall 5.2% in the first quarter of 2023 from the year-ago period, I/B/E/S data from Refinitiv as of April 7 showed. That weakness would come on the heels of a 3.2% earnings fall in the fourth quarter of 2022, a back-to-back decline known as an earnings recession which has not occurred since COVID-19 blasted corporate results in 2020.

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