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☆ Where investors might hide out if inflation continues to reaccelerate
▼ + stars: | 2024-04-10 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

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

☆ 2024 will be the last stretch to the Fed's 2% goal, says Glenmede's Jason Pride
▼ + stars: | 2024-03-12 | 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 Email2024 will be the last stretch to the Fed's 2% goal, says Glenmede's Jason PrideJason Pride, chief investment officer of private clients at Glenmede, joins 'Power Lunch' to discuss the Fed's next move and reaching its 2% inflation target.

Persons: Jason Pride Jason Pride

☆ Stubborn inflation means the Fed will be cutting rates less than the market thought
▼ + stars: | 2024-02-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

If nothing else, the January inflation report released Tuesday finally appears to have convinced markets that Federal Reserve officials weren't kidding around when they said they will take a deliberate approach to cutting interest rates this year. Following the consumer price index report showing the year-over-year reading well ahead of the Fed's desired inflation goal, markets recalibrated their monetary policy expectations. The Fed "faces a challenging task in balancing economic growth and employment while trying to control inflation," he added. Indeed, the narrative of the Fed being able to start cutting early, and moving rapidly through the year, was all but dead Tuesday. The January CPI report is a "setback for the Fed and makes a May rate cut unlikely.

Persons: Ditto, —, it's, Sung Won Sohn, Dow, Jerome Powell, Jason Pride, there's, Powell, Matthew Ryan, Krishna Guha, Guha Organizations: Federal Reserve, CME, Labor, CPI, Loyola Marymount University, SS Economics, Dow Jones, US2Y, CBS, Bank of America, Citigroup, Fed, Evercore ISI

☆ Wall St Week Ahead After breathtaking surge, US stocks' path may rest on economic soft landing
▼ + stars: | 2023-11-17 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 16, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNEW YORK, Nov 17 (Reuters) - Are U.S. stocks poised to continue their dramatic run, or is a pause ahead? The index is now up nearly 18% for the year and less than 2% away from its year-high, reached in July. Analysts at Ned Davis Research, which has been recommending an overweight to stocks, this week said investors should further shift into equities and away from bonds. One source of worry has been a renewed climb in stocks' valuations.

Persons: Brendan McDermid, ”, Yung, Yu Ma, Ned Davis, Ed Clissold, ” Robert Pavlik, Pavlik, Seasonality, LSEG Datastream, Jason Pride, Keith Lerner, Lewis Krauskopf, Ira Iosebashvili, Nick Zieminski Organizations: New York Stock Exchange, REUTERS, Federal, BMO Wealth Management, National Association of Active Investment, Reuters Graphics, Treasury, Ned, Ned Davis Research, “, CPI, Dakota Wealth, Nvidia, Advisory Services, Thomson Locations: New York City, U.S

☆ Wall St Week Ahead - After breathtaking surge, U.S. stocks' path may rest on economic soft landing
▼ + stars: | 2023-11-17 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 16, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNEW YORK, Nov 17 (Reuters) - Are U.S. stocks poised to continue their dramatic run, or is a pause ahead? The index is now up 17% for the year and about 6% from its record closing high from January 2022. Analysts at Ned Davis Research, which has been recommending an overweight to stocks, this week said investors should further shift into equities and away from bonds. One source of worry has been a renewed climb in stocks' valuations.

A recently edgy bond market gobbled all that up. Funds' bonds allocation in November soared 18 points over the month to leave them net 19% overweight - almost 3 standard deviations above long-term averages. Asset managers' overweight bond positions - or at least those in government bonds and U.S. Treasuries - tends to be mirrored by big short positions in Treasury futures among speculative hedge funds. CFTC numbers show the scale of that speculative 'Big Short' on the flipside of the mounting 'Big Long' built by regular asset managers. Lamont points out that U.S. Treasury yields and investment grade corporate debt yields would have to rise about another 100bps for the capital losses to wipe out current yields.

Persons: Sarah Silbiger, Lazard, Ronald Temple, Lombard Odier's Florian Ielpo, Duncan Lamont, Lamont, Jason Pride, Mike Dolan, Susan Fenton Organizations: El Progreso Market, Washington , D.C, REUTERS, Bank of America's, Treasury, Reuters, Thomson Locations: Mount Pleasant, Washington ,, what's

☆ Premarket stocks: It’s a spooky Halloween for markets. Here’s why
▼ + stars: | 2023-10-31 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

Here’s what’s causing the market fears:High bond yieldsSurging yields have contributed to one of the worst periods for bond market performance in history and pressured equity markets. The company reported quarterly profits of $9.9 billion, also beating estimates. Shares of Meta slid last week after the Facebook parent company reported that advertising revenue had been soft this quarter. Jerominski told CNN that there have been at least 25 store closures. Fraser Engerman, a Walgreens spokesperson, told CNN that just two stores closed on Monday and no more than 12 pharmacists walked out across the entire country.

Persons: Dow, Rob Almeida, ”, Jason Pride, “, don’t, Erik Weisman, Seema Shah, JPMorgan Chase, Jamie Dimon, Wall, Shane Jerominski, Jerominski, Fraser Engerman, Max —, Tim Cook, Apple Organizations: CNN Business, Bell, New York CNN —, Traders, Nasdaq, MFS Investment Management, Federal Reserve, Asset Management, LPL Research, JPMorgan, Big Tech, Meta, Facebook, Reality Labs, Google, CVS, Walgreens, Staff, CNN, Workers, Apple Locations: New York, United States, Israel, Russia, Ukraine, China, Arizona , Washington , Massachusetts, Oregon, Southern California, Chicago, Deerfield, Apple’s Cupertino , California

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. A Labor Department report showed U.S. job openings unexpectedly increased in August, pointing to tight labor market conditions. Traders' bets on at least another 25-basis-point rate hike stood in November and December at 30% and 48%, respectively, according to CME's FedWatch tool. The CBOE volatility index (.VIX), known as Wall Street's "fear gauge", touched a more than four-month high, reflecting heightened investor anxiety. Declining issues outnumbered advancers for a 5.99-to-1 ratio on the NYSE and a 3.50-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Loretta Mester, Raphael Bostic, Jason Pride, KeyBanc, McCormick, advancers, Ankika Biswas, Shashwat Chauhan, Vinay Dwivedi, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Microsoft, Dow, Nasdaq, Labor Department, Cleveland Fed, Atlanta, Traders, Apple, Reuters, Ofcom, Dow Jones, ADP, HP, BofA Global Research, Boeing, United Airlines, NYSE, Thomson Locations: New York City, U.S, Glenmede, Philadelphia, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Ford Motor (F.N) advanced 2.5% after Reuters reported the United Auto Workers (UAW) was set to announce progress in labor contract talks with the carmaker. Several Fed policymakers, including policy voting member Minneapolis President Neel Kashkari, are set to speak during the day. Advancing issues outnumbered decliners by a 2.11-to-1 ratio on the NYSE and by a 1.44-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and 26 new lows, while the Nasdaq recorded 14 new highs and 102 new lows.

Persons: Brendan McDermid, dampening, Jason Pride, Neel Kashkari, Li Auto, Alibaba, Bernstein, Wells, Ankika Biswas, Shristi, Anil D'Silva, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Activision, Microsoft, Ford, Reuters, UAW, Dow, Nasdaq, United Auto Workers, U.S, Treasury, Apple, Nvidia, Minneapolis, Dow Jones, PDD Holdings, Baidu, Hong, Charter Communications, NYSE, Thomson Locations: New York City, U.S, Glenmede, Philadelphia, Hong Kong, Bengaluru

☆ This week’s US inflation data is very important. Here’s why
▼ + stars: | 2023-09-12 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

All this uncertainty has led markets to lack conviction, flip-flopping as conflicting narratives around inflation rates and Fed hikes prevail. But this week’s readings — just a few days ahead of the Fed’s September policy meeting -— could give the markets direction. “Getting core inflation to 2% won’t come quickly, and upside risks remain,” said Greg McBride, chief financial analyst at Bankrate. And while the Fed generally looks at core inflation, the impact of crude prices often extends into other areas of the economy. Pensions and inflation adjustments: The UAW wants a return of traditional pension payment plans and retiree health care for all UAW members.

Persons: There’s, —, Price, Jason Pride, Michael Reynolds, Glenmede, ”, Greg McBride, David Kelly, Chris Isidore, Shawn Fain, they’re, Chris, Jordan Valinsky, Instacart, “ Organizations: CNN Business, Bell, New York CNN, United Auto Workers, Federal, Consumer, of America, JPMorgan Asset Management, UAW, Ford, Jeep, Dodge, Chrysler, Workers, Union Locations: New York, China, Saudi Arabia, Russia, America, Instacart

☆ AI won't have a near-term effect on bottom lines, says Glenmede's Jason Pride
▼ + stars: | 2023-09-06 | 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 EmailAI won't have a near-term effect on bottom lines, says Glenmede's Jason PrideJason Pride, chief of investment strategy and research at Glenmede, joins 'Power Lunch' to discuss the strength of the market despite economic headwinds, over enthusiasm in the market about AI, and why Japan may be benefiting from the current inflationary environment.

Persons: Jason Pride Jason Pride Locations: Japan

The yield on the 10-year Treasury notes climbed to 4.23%, while two-year yield rose to 4.928% in the run-up to more economic data this week. "The recession is definitely delayed within the United States ... we are seeing fairly weak economic environments in both China and Europe." U.S. economic data since the Fed's July meeting has added to the impression the economy is cooling without cracking, likely bolstering the case against further interest rate increases. All three main U.S. stock indexes logged gains in the previous week after data pointed to a softening labor market. The S&P index recorded eight new 52-week highs and 13 new lows, while the Nasdaq recorded 27 new highs and 63 new lows.

Persons: Brendan McDermid, Blackstone, China stoked, Jason Pride, Alibaba, Goldman Sachs, advancers, Shristi Achar, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, China, Dow, Nasdaq, Apple, PDD Holdings, Baidu, Labor, Traders, Dow Jones, Blackstone, NYSE, Thomson Locations: New York City, U.S, China, United States, Europe, Saudi Arabia, Russia, Bengaluru

☆ Will Chinese deflation help cure the West’s inflation problem?
▼ + stars: | 2023-08-22 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —The Chinese economy has hit a rough patch. What’s happening: Chinese consumer spending, factory production and investments in long-term assets like property or machinery all slumped last month. On Monday, the Chinese government surprised investors by deciding not to cut an important interest rate that influences mortgages. The beauty company is “mindful of the headwinds that have emerged in China’s economy,” said the report. And even still, many regional banks have struggled to prevent deposit outflows.

Persons: ”, Jason Pride, Michael Reynolds, Lisa Shalett, Edward Moya, Estee Lauder, Moya, “, Elisabeth Buchwald, Moody’s, ‘ Barbie ’, “ Barbie ”, Jordan Valinsky, Greta Gerwig, “ Oppenheimer, “ Barbie Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Morgan Stanley Wealth Management, European, Apple, Intel, Ford, Starbucks, Nike, Saudi, Comerica Inc, National Bancorp, UMB Financial Corp, Bank of New York Mellon, State, Northern Trust, & $ Locations: New York, China, Europe, Beijing, Asia, Russia, Saudi Arabia, Silicon

☆ Wall St ends lower after bank rating cuts spark wider sell-off
▼ + stars: | 2023-08-09 | by ( David French | ) www.reuters.com time to read: +4 min

The S&P 500 Banks index (.SPXBK) has slipped 2.5% year to date, compared with a 17.2% gain by the S&P 500, and the downgrades exposed the fragility of investors' confidence towards financial stocks. The banks index slid 1.1% on Tuesday, while the KBW Regional Banking index (.KRX) dipped 1.4%. Reaction to the bank downgrades pushed up the CBOE Market Volatility index (.VIX), Wall Street's fear gauge, at one point hitting a two-month high. Eight of the 11 major S&P 500 sectors fell. The S&P 500 posted 13 new 52-week highs and 17 new lows; the Nasdaq Composite recorded 46 new highs and 195 new lows.

Persons: Eli Lilly, Moody's, Goldman Sachs, Jason Pride, Brendan McDermid, Bansari Mayur Kamdar, Johann M, David French, Sriraj Kalluvila, Vinay Dwivedi, Richard Chang Organizations: Dow, Nasdaq, Bank of New York Mellon, U.S . Bancorp, Truist, Silicon Valley Bank, Bank of America, Traders, New York Stock Exchange, REUTERS, Dow Jones, Novo Nordisk, Dish Network, United Parcel Service, Thomson Locations: U.S, Silicon, KBW, New York City, China, Denmark, Bengaluru, New York

☆ Reaction: June US jobs growth cools, but wages won't comfort Fed
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +6 min

Nonfarm payrolls increased by 209,000 jobs last month, the Labor Department said on Friday. "Today's numbers confirm the job market is still strong... and this report gives the green light to the Fed to raise rates. "If anything, it probably confirms this idea that the Fed has had that they are making progress in the right direction." "It's not like this is a sudden vast improvement in the labor market." The hours worked numbers are rising slower than the payrolls numbers.

Persons: Nonfarm, payrolls, CANDICE, GOLDMAN, BEN JEFFERY, “, PETER CARDILLO, we're, STUART COLE, JASON PRIDE, MICHAEL BROWN, ”, ” BRIAN JACOBSEN, MENOMONEE Organizations: YORK, Labor Department, Reuters, Treasury, BMO, NFP, Fed, Global Finance, Markets, Thomson Locations: GOLDMAN SACHS, PHILADELPHIA, WISCONSIN

☆ 14 charts show why a recession is imminent for the US economy despite strong labor-market data suggesting otherwise
▼ + stars: | 2023-07-05 | by ( William Edwards | ) www.businessinsider.com time to read: +1 min

Indicators like GDP and unemployment show the economy remains intact. But forward-looking indicators continue to point to an imminent downturn. Unemployment is still historically low at 3.7% as monthly job reports continue to post healthy gains, making forecasters look silly. He added: "Investors who over-rely on coincident data may be in for a rude awakening as restrictive rates continue to work their way through the economy." Below, we've compiled some of the forward-looking indicators that show a recession is brewing, or may already be underway.

Persons: Jason Pride, we've Organizations: Deutsche Bank Locations: Glenmede

☆ 'AI excitement is becoming irrational': 4 Wall Street strategists break down why investors should proceed with caution around artificial intelligence stocks as hype around the technology grows
▼ + stars: | 2023-06-13 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

This is mind, some strategists are urging investors to proceed with caution around the technology. Below, we've compiled quotes from strategists who are warning investors not to get caught up in the hype. For example, of the top-ten technology stocks at the peak of the Tech Bubble, only two remain in the top ten today," he continued. He said he plans on reducing his positions in some AI stocks. "The excitement about generative AI has distracted investors from the possible risks of a looming recession," Goodwin said on June 6.

Persons: we've, Jason Pride, Michael Landsberg, Wealth Management Landsberg, Michael Kantrowitz, Piper Sandler Kantrowitz, Piper Sandler, Kantrowitz, Piper Sandler Lauren Goodwin, Goodwin Organizations: Tech, Landsberg Bennett, Wealth Management, New York

Focus now shifts to the Labor Department's closely watched unemployment report for May, due on Friday. The data will help determine whether the Fed sticks with its aggressive rate hikes. "The market became confident that, 'wow the Fed rate hike for June is pretty much not happening' and confidence is falling for raising rates for July," he said. C3.ai Inc (AI.N) slumped after the artificial intelligence company forecast an annual revenue outlook below analysts' estimates. Dollar General Corp (DG.N) plunged as retail companies cut their full-year sales forecasts as high inflation dimmed the U.S. consumer outlook.

Persons: Goldman Sachs, Edward Moya, I'm, Jimmy Chang, Chang, Jason Pride, We've, Herbert Lash, Shreyashi Sanyal, Shristi, Shounak Dasgupta, Maju Samuel, Deepa Babington Organizations: Labor, Dow Jones, Nasdaq, ADP, Labor Department, Unit, Futures, Reuters Graphics Reuters, Senate, Rockefeller Global, Nvidia Corp, Glenmede, Dow, Salesforce Inc, Goldman Sachs Group Inc, Meta, Inc, General Corp, Thomson Locations: New York, Philadelphia, Bengaluru

Deere & Co (DE.N) rose 4.4% after the heavy machinery company raised its annual net income forecast buoyed by robust farm incomes. The benchmark S&P 500 index (.SPX) and the Nasdaq (.IXIC) were set for their best weekly performance since late March amid positive debt ceiling talks, less-than-feared earnings and economic data. The S&P 500 banks index (.SPXBK) is on course to end the week 5.4% higher, snapping a three-week losing streak. Over 90% of S&P 500 companies have reported, of which around 77% beat earnings expectations, according to Refinitiv data. The S&P index recorded 27 new 52-week highs and one new low, while the Nasdaq recorded 58 new highs and 28 new lows.

S&P 500 futures hit a 15-week high in early trading, while Nasdaq e-minis breached levels not seen in nine months. The positive momentum carried through for much of the week as investors tracked progress in talks between top U.S. lawmakers for an agreement on increasing the $31.4 trillion debt ceiling. ET, Dow e-minis were up 101 points, or 0.3%, S&P 500 e-minis were up 12.25 points, or 0.29%, and Nasdaq 100 e-minis were up 6 points, or 0.04%. The benchmark S&P 500 index (.SPX) and the Nasdaq (.IXIC) were set for their best weekly performance since late March amid positive debt ceiling talks, less-than-feared earnings and economic data. The S&P 500 banks index (.SPXBK) is on course to end the week 5.3% higher, snapping a three-week losing streak.

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 3, 2023. Major U.S. stock indexes dropped over 1% on Tuesday as regional bank shares tumbled on renewed fears over the financial system and as investors tried to gauge how much longer the Fed may need to hike interest rates. Estee Lauder Cos Inc (EL.N) slid 21.3% as the MAC lipstick maker forecast a bigger drop in full-year sales and profit. Advancing issues outnumbered decliners for a 2.11-to-1 ratio on the NYSE and a 2.25-to-1 ratio on the Nasdaq. The S&P index recorded 19 new 52-week highs and two new lows, while the Nasdaq recorded 30 new highs and 76 new lows.

☆ Investors are watching guidance this earnings season, but might not like what they see
▼ + stars: | 2023-04-12 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

New York CNN —Corporate guidance statements will be front and center as earnings season kicks off, with investors trying to gauge the economy’s temperature. Analysts forecast that first-quarter earnings for companies in the S&P 500 will fall 6.8% from the same period the previous year, according to FactSet. “We all expect earnings to be less than stellar,” says Shana Sissel, chief executive officer at Banríon Capital Management. Earnings season for banks starts on Friday with JPMorgan Chase, Wells Fargo, BlackRock, Citigroup and PNC Financial Services slated to report before the bell. Still, earnings are just one factor driving markets, and inflation remains a key concern for the Fed.

☆ Stock futures rise slightly ahead of key inflation data and the kickoff of earnings season: Live updates
▼ + stars: | 2023-04-09 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

U.S equity futures rose slightly Sunday evening as investors looked ahead to key inflation data and the start of first-quarter earnings season. Futures tied to the broad market S&P 500 rose 0.2% and Dow Jones Industrial Average futures edged up 62 points, or 0.2%. The market was volatile as economic data showed signs of a weakening labor market. The March jobs report on Friday showed a resilient economy and moderate inflation, however, which pushed stock futures and Treasury yields higher. "It's still probably a toss-up as to whether the Fed hikes by another 25 basis points at its next meeting and stands pat; the next set of inflation data will probably be the deciding factor."

While money funds are not strictly gauranteed or insured, the 85% invested heavily in government securities put up some stark competition for bank deposits that have lagged central bank policy rate rises over the past 18 months - causing much political ire in countries such as Britain. But, in contrast to money funds, the average rate across all of them, according to the Federal Deposit Insurance Corporation, is still just 0.37%. That's now changing due to safety and insurance fears at smaller banks stateside - as well as the compelling alternative at money funds that appear safer against that backdrop. Of this trillion, half went to government money market funds and the other half to larger banks, they reckoned. Noting that some $7 trillion of U.S. bank deposits remained uninsured, the JPM team concluded: "A FDIC guarantee of all U.S. bank deposits would certainly help, but it might not be enough to completely stop this deposit shift."

☆ First Republic shares fall on fresh liquidity fears as peers rebound
▼ + stars: | 2023-03-20 | by ( Medha Singh | ) www.reuters.com time to read: +3 min

March 20 (Reuters) - Shares of First Republic Bank (FRC.N) slumped 13.1% on Monday, after a report the regional bank could raise more money fanned worries about its liquidity despite a $30 billion rescue last week. Shares of some of the big banks involved in the unprecedented support rose, reversing premarket losses. "Even though First Republic Bank says that they have the financial backing to survive, investors are concerned that they too will have to be taken over," said Jason Pride, chief investment officer of private wealth at Glenmede. The S&P 1500 regional banks index (.SPCOMBNKS) added nearly 4%, outperforming S&P 500 banks' (.SPXBK) 2.6% rise. A U.S. official told Reuters on Sunday that the deposit outflows that left many regional banks reeling in the wake of Silicon Valley Bank's failure had slowed and in some cases reversed.

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