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☆ Regional bank earnings may expose critical weaknesses, former FDIC Chair Sheila Bair warns
▼ + stars: | 2024-04-16 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

Regional bank earnings may expose critical weaknesses, according to Sheila Bair, former chair of the U.S. Federal Deposit Insurance Corp.Their quarterly numbers begin hitting Wall Street this week. Bair, who ran the FDIC during the 2008 financial crisis, is nervous that regional bank issues from 2023 aren't fully resolved. "This is still a problem for the regional banks, and fingers crossed that there's [not] another failure. The SPDR S&P Regional Bank ETF (KRE) is down almost 13%, and only four of its members are positive for 2024. Her latest regional bank warning comes as the benchmark 10-year Treasury note yield topped 4.6% this week and hit its highest level since November 2023.

Persons: Sheila Bair, I'm, Bair, CNBC's, aren't, We're Organizations: U.S . Federal Deposit Insurance Corp, P Regional Bank ETF, New York Community Bancorp, Metropolitan Bank Holding Corp, Kearny Financial, Columbia Banking, National Bancorp Locations: New York

☆ Wells Fargo's Chris Harvey says 'I don't feel bullish' — a day after hiking S&P year-end target to highest on Street
▼ + stars: | 2024-04-09 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

Wells Fargo Securities' Chris Harvey hiked his S & P 500 year-end price target by about 20% this week. Harvey, who once referred to himself during a CNBC interview as " not a real positive guy ," raised his official 2024 S & P 500 target to 5,535 on Monday. That's good for growth. That's good for momentum, and it's good for large caps," Harvey added. Harvey's S & P 500 2023 year-end target was 4,420.

Persons: Chris Harvey, Harvey Organizations: Wells Fargo Securities, CNBC, Labor Department Locations: Wells Fargo

☆ Fed must get 'more aggressive' with rate cuts due to weakening jobs market, Canaccord's chief market strategist says
▼ + stars: | 2024-03-31 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +1 min

The Federal Reserve may have new incentives in the second quarter to cut rates deeper this year. Canaccord Genuity's Tony Dwyer thinks a deteriorating jobs market and easing inflation will ultimately push the Fed to act. "Our focus now is those rate cuts are what you need." At the March Federal Reserve policy meeting on interest rates, officials tentatively planned to slash rates three times this year. According to Dwyer, market performance will become much more even by the end of this year into 2025.

Persons: Canaccord Genuity's Tony Dwyer, I'm, CNBC's, Dwyer Organizations: of Labor Statistics

☆ Time is running out for interest rate cuts, market forecaster Jim Bianco warns before Fed meeting
▼ + stars: | 2024-03-18 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

On the eve of the Federal Reserve's two-day policy meeting, Wall Street forecaster Jim Bianco believes the central bank will likely stay on hold until next year. For Fed Chair Jerome Powell to cut this spring, the economy would have to dramatically weaken, according to Bianco. This week's Fed meeting comes almost exactly two years after policymakers started their rate hike campaign. It appears Wall Street may be on notice. In January, Bianco told "Fast Money" the 10-year yield would hit 5.5% this year.

Persons: Jim Bianco, CNBC's, Jerome Powell, Bianco, It's, it's, That's, we're Organizations: Federal, Wall, Bianco Research, Boeing, Fed Locations: It's

☆ They voted for the bill that could ban TikTok. They also actively use the app.
▼ + stars: | 2024-03-17 | by ( Shania Shelton | ) edition.cnn.com time to read: +11 min

Jackson is not the only House representative who has both taken advantage of the popular app and voted for the bill that could ban it. Some of these representatives actively use the app to boost their campaigns, while others use it for office communications. Some members who voted in favor of the bill believe the US should be able to regulate the technology. The question of a banA few of the representatives who voted in favor of the bill have emphasized that it is not meant to be a ban of TikTok. Just being as transparent and accountable as we possibly can.”The Democratic congressman said if TikTok is banned, he will continue to use the social media platforms that aren’t banned, but said, “I don’t think that’s what’s going to happen here.”“It’s really a sell TikTok, not ban TikTok bill.

Persons: Jeff Jackson, “, Marisa, Biden, Alabama Sen, Katie Britt, Jackson, unfollow, Colin Allred, Adam Schiff of California, Elissa Slotkin, ” Jackson, TikTok, “ I’ve, ”, Republican Dan Bishop, snoop, Bill Pascrell, Schiff, ” Schiff, Joe Biden, ” Allred, Sen, Ted Cruz, Slotkin, “ I’m, ” Slotkin, Debbie Stabenow, MSNBC’s Andrea Mitchell, Annie Wu Henry, John Fetterman’s, ” Henry, Sean Casten, Greg Landsman, Wiley Nickel, Pascrell, Melanie Stansbury, Landsman, Henry Organizations: CNN — Democratic, Union, North Carolina Democrat, Democratic, Republican, ”, Communist, California Senate, Senate, Constituent, CNN Locations: North, Texas, Michigan, North Carolina, Beijing, New Jersey, United States, California, TikTok, ”, Illinois, Ohio, New Mexico

☆ Ohio GOP House candidate backtracks on prior support for federal abortion ban
▼ + stars: | 2024-03-13 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +5 min

Read previewLate last month, Rep. Greg Landsman — an Ohio Democrat who defeated an incumbent Republican in 2022 — declared in a tweet that his GOP opponent supported a federal abortion ban. He did not reply with "YX" — a response that would have indicated his support for some exceptions to an abortion ban. That decision, which removed the constitutional right to an abortion, spurred state-level abortion bans — and a massive backlash to anti-abortion policies — nationwide. That bill, designed to ensure abortion rights nationwide, precludes states from enacting temporal limits on abortion. Most House and Senate Republicans opposed a 2022 law that strengthens protections for same-sex and interracial marriage at the federal level.

Persons: —, Greg Landsman —, Orlando Sonza, who's, @GregLandsman, 0wsOeEjem4, Sonza, shouldn't, Roe, Wade, Ohioans, lKvI58Ly3s, hiUL0rrxPr, Landsman Organizations: Service, Ohio Democrat, Republican, GOP, US Army, Business, Cincinnati, Republicans, Supreme, Women's, Alabama Supreme, affirmatively Locations: Ohio, Ohio's, Cincinnati

☆ Jefferies analyst challenges Trump’s claim that Meta’s Facebook is ‘enemy of the people’
▼ + stars: | 2024-03-11 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +1 min

Jefferies' Brent Thill sees Facebook as vital — despite President Donald Trump calling it an "enemy of the people" on CNBC's "Squawk Box " on Monday. The reverse has happened for small businesses," the firm's tech sector lead told CNBC's " Fast Money ." "The reality is the economic value to all these small businesses' advertising is off the charts." But ultimately, I think, the value created is so great for these small businesses, it's hard to turn down the facts," said Thill. "I'd be buying this stock on this weakness," Thill said.

Persons: Jefferies, Brent Thill, Donald Trump, CNBC's, Trump's, Thill Organizations: Trump, Facebook, Meta, Google Locations: Monday's

☆ Nvidia rally is fueling FOMO in the overall market, Evercore's Julian Emanuel warns
▼ + stars: | 2024-02-12 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

Evercore ISI's Julian Emanuel thinks Nvidia's monster rally is fueling a fear of missing out in the market. "That's the first time that's happened since 2021 for us," the firm's senior managing director said on CNBC's "Fast Money" on Monday. In his Sunday note, Emanuel warned clients there are similarities to Y2K emerging, particularly when it comes to momentum. Meanwhile, Nvidia , the global leader in artificial intelligence chips, is up 46% so far this year and 240% over the past year. "If you can't see yourself being a buyer down there, you should probably lighten up a little bit," said Emanuel.

Persons: Evercore, Julian Emanuel, Nvidia's, Emanuel, CNBC's Melissa Lee, hasn't, It's Organizations: Dow, Nvidia Locations: U.S, Monday's

☆ Democrats have become way more comfortable putting Israel aid on hold amid the ongoing war in Gaza
▼ + stars: | 2024-02-07 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +6 min

Democrats believe it will be essentially impossible to get that aid through both chambers of Congress without attaching it to Israel aid. AdvertisementYet despite AIPAC's endorsement of a $11.7 billion Israel aid package on Tuesday, all but 46 House Democrats voted against it. Democratic Rep. Don Beyer, a former diplomat, said he sees little urgency in approving more Israel aid. Another factor in Democrats' rejection of the Israel aid bill was its exclusion of humanitarian aid for Palestinians, which is included in the Senate's foreign aid bill. And there are some progressive Democrats who are likely to spurn further Israel aid altogether.

Persons: —, That's, it's, Israel, Don Beyer of Virginia, Beyer, I'm, Joe Biden, Chuck Schumer, Don Beyer, Bill Clark, Greg Landsman, Jeremy Ben, Ami, Landsman, Sen, Bernie Sanders of, Rep, Alexandria Ocasio, Cortez Organizations: Service, Business, Democratic Rep, Republicans, Internal Revenue Service, GOP, Democratic, Jewish, Democrats Locations: Israel, Ukraine, Gaza, Ohio, Bernie Sanders of Vermont, Alexandria, Cortez of New York

☆ Big bank executives will assure lawmakers the industry's crisis is over, KBW CEO Thomas Michaud predicts
▼ + stars: | 2023-12-05 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +1 min

Big bank CEOs will likely convey deposits and earnings are stable to lawmakers on Wednesday, according to a major financial services executive. Thomas Michaud, CEO of Stifel company Keefe, Bruyette & Woods, thinks the hearing before the Senate Banking Committee will successfully provide assurance to Washington and Wall Street. "The targeted approach to change deposit insurance to reduce the 'too big to fail' thinking, so depositors don't run like that. He thinks action is needed to keep mid-sized banks competitive with the big banks — starting with lifting Federal Deposit Insurance Corp coverage limits for small businesses. "If deposit insurance reform in my opinion doesn't happen, there's going to be tremendous pressure on those [mid-size] banks to consolidate," Michaud said.

Persons: Thomas Michaud, Keefe, Jamie Dimon, Goldman Sachs, David Solomon, " Michaud, He's, Michaud Organizations: Wall, . Banking, Silicon Valley Bank, Signature Bank, First, Federal Deposit Insurance Corp Locations: Washington, Silicon, First Republic

☆ 105 Democrats declined to vote for a resolution declaring 'anti-Zionism is antisemitism'
▼ + stars: | 2023-12-05 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +5 min

105 Democrats voted no or "present" on a resolution that declared "anti-Zionism is antisemitism." Advertisement105 House Democrats on Tuesday declined to vote for a resolution condemning antisemitism, pointing to language that equates it with anti-Zionism. Nadler on Monday introduced his own resolution on anti-Semitism, arguing it goes further in mitigating the problem than the Republican-proposed resolution. Rep. Nadler: "The resolution states that all anti-Zionism is antisemitism. That's intellectually disingenuous or factually wrong…The authors if they were at all familiar with Jewish history & culture should know about Jewish anti-Zionism that was + is expressly not antisemitic."

Persons: Jerry Nadler, —, Nadler, cjTReBocKW, Prem Thakker, David Kustoff, Mark Pocan, Thomas Massie, Rashida, Massie, Greg Landsman, Landsman Organizations: Jewish House, Service, Democrats, Democratic, New, Defamation League, Israel, Jewish Voice, Peace, Monday, Republican, Rep, Republicans, House, Republican Rep, Jewish Locations: New York, Israel, Brooklyn, Tennessee, Wisconsin, Kentucky, Michigan, Ohio

☆ These 105 Democrats declined to vote for a resolution declaring 'anti-Zionism is antisemitism'
▼ + stars: | 2023-12-05 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +5 min

105 Democrats voted no or "present" on a resolution that declared "anti-Zionism is antisemitism." Advertisement105 House Democrats on Tuesday declined to vote for a resolution condemning antisemitism, pointing to language that equates it with anti-Zionism. Nadler on Monday introduced his own resolution on anti-Semitism, arguing it goes further in mitigating the problem than the Republican-proposed resolution. Rep. Nadler: "The resolution states that all anti-Zionism is antisemitism. Nonetheless, 95 Democrats voted for the resolution anyway, including Rep. Greg Landsman of Ohio, one of more than two dozen Jewish House members.

Persons: Jerry Nadler, —, Nadler, cjTReBocKW, Prem Thakker, David Kustoff, Mark Pocan, Thomas Massie, Rashida, Massie, Greg Landsman, Landsman, Jamaal Bowman, Cori Bush, Gerry Connolly, Raul Grijalva, Pramila, Summer Lee, Alexandria Ocasio, Cortez, Ilhan Omar, Ayanna Pressley, Delia Ramirez, Bonnie Watson Coleman Organizations: Jewish House, Service, Democrats, Democratic, New, Defamation League, Israel, Jewish Voice, Peace, Monday, Republican, Rep, Republicans, House, Republican Rep, Jewish, New York Rep, Missouri Rep, Virginia Rep, Illinois Rep, Arizona Rep, Washington Rep, Pennsylvania Rep, Cortez of New York Rep, Minnesota Rep, Massachusetts, Michigan Rep Locations: New York, Israel, Brooklyn, Tennessee, Wisconsin, Kentucky, Michigan, Ohio, Missouri, Virginia, Chuy García, Alexandria, Cortez of, Minnesota, New Jersey

☆ Wells Fargo unveils 2024 target, warns of 'really, really sloppy' first half for stocks
▼ + stars: | 2023-11-27 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +1 min

Wells Fargo Securities is officially out with its 2024 stock market forecast. The second half will be better, but the first half is going to be really, really sloppy." In his official 2024 outlook note, Harvey told clients to brace for a "trader's market" instead of a "buy-and-hold situation." We've seen the equity market pull back, and it's just not a great setup into 2024," Harvey added. He warns the higher cost of capital is an additional market problem because it prevents multiples from going higher.

Persons: Chris Harvey, CNBC's, Harvey, it's Organizations: Wells Fargo Securities Locations: Wells Fargo

☆ These 22 House Democrats voted to censure Rep. Rashida Tlaib for her rhetoric on Israel — while these 4 Republicans voted against it
▼ + stars: | 2023-11-08 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +4 min

22 Democrats voted for a more narrow resolution proposed by a different House Republican. 22 House Democrats voted with the vast majority of Republicans to support a censure resolution put forward by Rep. Rich McCormick of Georgia condemning Tlaib. 4 Republicans voted against it, largely on free speech grounds, while 3 Democrats and 1 Republican voted present. That effort failed after 23 Republicans voted to table that resolution, and McCormick was among those who voted against it. Reps. Jared Moskowitz of Florida, Ritchie Torres of New York, and Josh Gottheimer of New Jersey all voted to censure fellow Democratic Rep. Rashida Tlaib of Michigan.

Persons: Rashida Tlaib, Marjorie Taylor Greene, —, Rashida, she's, Rich McCormick, Tlaib, McCormick, Jared Moskowitz, Florida, Ritchie Torres, Josh Gottheimer, Bill Clark, Anna Moneymaker, Ministry's, Adam Schiff of, Dave Joyce of Ohio, Abigail Spanberger, Donald Norcoss of, Susan Wild of, Steve Cohen, Jim Costa of, Angie Craig, Don Davis of, Lois Frankel, Jared Golden, Dan Goldman, Greg Landsman, Susie Lee, Kathy Manning of, Wiley Nickel, Chris Pappas, Marie Gluensenkamp Perez, Pat Ryan, Brad Schneider, Kim Schrier, Darren Soto, Debbie Wasserman Schultz, Frederica Wilson of, censuring Organizations: Palestinian American, Republican, Service, Republicans, Capitol, New, Democratic, Getty Images, Democratic Rep, Adam Schiff of California, Trump, Tennessee Rep, Jim Costa of California Rep, Minnesota Rep, Don Davis of North Carolina Rep, Florida Rep, Maine Rep, New York, New Jersey Rep, Ohio Rep, Nevada Rep, Kathy Manning of North Carolina Rep, North Carolina Rep, New Hampshire Rep, New York Rep, Illinois Rep, Washington Rep Locations: Israel, Michigan, Georgia, Tlaib, Gaza, New York, New Jersey, Russia, Virginia, Donald Norcoss of New Jersey, Susan Wild of Pennsylvania, Ohio, Florida, Frederica Wilson of Florida

☆ 22 House Democrats voted to censure Rep. Rashida Tlaib for her rhetoric on Israel — while 4 Republicans voted against it
▼ + stars: | 2023-11-08 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +4 min

Persons: Rashida Tlaib, Marjorie Taylor Greene, —, Rashida, she's, Rich McCormick, Tlaib, McCormick, Jared Moskowitz, Florida, Ritchie Torres, Josh Gottheimer, Bill Clark, Anna Moneymaker, Ministry's, Adam Schiff of, Steve Cohen, Jim Costa of, Angie Craig, Don Davis of, Lois Frankel, Jared Golden, Dan Goldman, Greg Landsman, Susie Lee, Kathy Manning of, Wiley Nickel, Chris Pappas, Marie Gluensenkamp Perez, Pat Ryan, Brad Schneider, Kim Schrier, Darren Soto, Debbie Wasserman Schultz, Frederica Wilson of, censuring Tlaib Organizations: Palestinian American, Republican, Service, Republicans, Capitol, New, Democratic, Getty Images, Democratic Rep, Adam Schiff of California, Trump, Tennessee Rep, Jim Costa of California Rep, Minnesota Rep, Don Davis of North Carolina Rep, Florida Rep, Maine Rep, New York, New Jersey Rep, Ohio Rep, Nevada Rep, Kathy Manning of North Carolina Rep, North Carolina Rep, New Hampshire Rep, New York Rep, Illinois Rep, Washington Rep Locations: Israel, Michigan, Georgia, Tlaib, Gaza, New York, New Jersey, Russia, Ohio, Florida, Frederica Wilson of Florida

☆ One paycheck not enough: Digital bank Current finds almost half its customers have multiple jobs
▼ + stars: | 2023-11-02 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +1 min

Current CEO Stuart Sopp finds almost half of the firm's payment customers have more than one job. "If you're having a paycheck over the past year, 20, 25% of paycheck depositors have at least one extra job. From DoorDash to Shopify to side businesses, Sopp finds the number is higher than prior years because money doesn't go as far. Sopp launched Current, which provides mobile banking without monthly fees and offers secured credit cards, in 2015. "They're being forced into risks like risky credit cards," noted Sopp, a former Morgan Stanley trader.

Persons: Stuart Sopp, Sopp, CNBC's, doesn't, He's, They're, Morgan Stanley Organizations: Federal Reserve Bank of New Locations: Shopify, America, Federal Reserve Bank of New York

☆ Consumers starting to buckle for first time in a decade, former Walmart U.S. CEO Bill Simon warns
▼ + stars: | 2023-10-09 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +1 min

As three of the nation's biggest retailers kick off key sales week, former Walmart U.S. CEO Bill Simon warns consumers are starting to buckle for the first time in a decade. "That sort of pileup wears on the consumer and makes them wary," the former Walmart U.S. CEO told CNBC's "Fast Money" on Monday. "For the first time in a long time, there's a reason for the consumer to pause." Walmart and Target are trying to compete with their own sales events to get an early jump on the holiday shopping season. Simon observes the retailers have a glaring thing in common: The bargains are not as deep.

Persons: Bill Simon, CNBC's, Simon Organizations: Walmart U.S, Amazon, Deal, Walmart, Target Locations: Israel

☆ Unlocking the clues of a metal world
▼ + stars: | 2023-10-06 | by ( Ashley Strickland | ) edition.cnn.com time to read: +5 min

CNN —For the first time, a NASA mission is setting off on a distant journey to visit a metal world in our solar system. This illustration depicts how scientists envision the Psyche asteroid. Over time, Psyche likely collided with other rocky objects, losing its outer crust and mantle until only its metal core remained. “We have never seen the surface of a metal world up close. “If you brought back as much metal as likely exists in Psyche, then the metals would no longer be rare and the price would plummet,” Metzger said.

Persons: REx, Annibale de Gasparis, ”, Zoe Landsman, Psyche, Landsman, isn’t, ” Landsman, NASA’s, Anicia Arredondo, “, ” Arredondo, Philip Metzger, ” Metzger Organizations: CNN, NASA, JPL, Caltech, ASU, Exolith, University of Central, Radar, Astronomy, Boeing, ASU “, Southwest Research Institute, Division, Planetary Sciences, Europlanet Science Congress, Scientists, University of Central Florida’s Florida Space Institute Locations: Italian, University of Central Florida, San Antonio

☆ JPMorgan's Marko Kolanovic braces for 20% market plunge, delivers recession warning
▼ + stars: | 2023-10-05 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +1 min

JPMorgan's Marko Kolanovic is bracing for a 20% sell-off to hit the S&P 500. According to the Institutional Investor hall-of-famer, high interest rates are creating a breaking point for stocks — and choosing cash at a 5.5% return in money market and short-term Treasurys is a key protection strategy right now. "I'm not sure how we're going to avoid it [recession] if we stay at this level of interest rates," the firm's chief market strategist and global research co-head told CNBC's "Fast Money" on Thursday. He indicates a near-term bounce is still possible because a lot hinges on economic reports over the next few months. It could be 20% downside."

Persons: JPMorgan's Marko Kolanovic, I'm, CNBC's, Kolanovic Organizations: Institutional, famer

☆ Bond yields could race through 5% in next couple of weeks, market forecaster Jim Bianco warns
▼ + stars: | 2023-10-03 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

Wall Street forecaster Jim Bianco expects Treasury yields to go a lot higher — and possibly overshoot through five percent in the next couple of weeks. "I don't think we're near the end of this move in the bond market," the Bianco Research president told CNBC's "Fast Money" on Tuesday. Yields on the five-year and 10-year Treasury notes, as well as the 30-year Treasury bond , hit their highest levels since 2007. "Most of the year bond investors [and] bond managers have been long. The volatility in the bond market is extending to stocks.

Persons: Jim Bianco, CNBC's, Bianco, They've, they've, Dow, Rick Santelli, Santelli Organizations: Bianco Research, Treasury, Nasdaq, CNBC

☆ Arm debut will help jump-start IPO market, early Airbnb investor Rick Heitzmann suggests
▼ + stars: | 2023-09-14 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

Arm Holdings will help jump-start the IPO market, according to the venture capitalist behind Airbnb and Pinterest. Chip design company Arm , which is affiliated with Softbank, jumped almost 25% in its Nasdaq debut on Thursday. And, Heitzmann expects next week's Instacart IPO to follow in Arm's footsteps. "It's the reason they're going to price Instacart down 70% from the last private round." "People were wondering how much appetite is there from the big traditional IPO buyers," Heitzmann said.

Persons: FirstMark, Rick Heitzmann, CNBC's, Chip, Softbank, Johnson, Heitzmann, It's Organizations: Holdings, Softbank, Nasdaq, CART, Heitzmann

☆ Treasury yield jump is not 'death to equities,' BofA's Savita Subramanian says
▼ + stars: | 2023-09-05 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

The latest jump in Treasury yields is not "death to equities," BofA Securities' Savita Subramanian told CNBC's "Fast Money" on Tuesday. In fact, Subramanian sees the bond move as a positive signal — rather than an ominous sign for the economy. In May, Subramanian hiked her S&P 500 year-end target by 7.5% to 4,300, with a range as high as 4,600. Even though she believes the corporate America has learned to do more with less, Subramanian suggests stocks won't go up in a straight line. But I do think we are at a point where we have some visibility with what the Fed is going to do," Subramanian said.

Persons: Savita Subramanian, CNBC's, Subramanian Organizations: Securities, Companies Locations: America

☆ CME Group CEO Terry Duffy: Manage your risk because everyone I've talked to got Fed 'dead wrong'
▼ + stars: | 2023-07-26 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +1 min

It's vital for investors to manage risk right now no matter where interest rates go, according to CME Group CEO Terry Duffy. "Everybody that I've talked to over the last year has been dead wrong when it comes to what the Fed was going to do," Duffy told CNBC's "Fast Money" on Wednesday. "Everybody said the Fed would raise 25 basis points, 50 basis points, 100 basis points and stop," he said. A basis point is one-hundredth of a percentage point. "People need to manage that risk because margins are thin," he said.

Persons: Terry Duffy, I've, Duffy, CNBC's Organizations: Dow Jones, Nasdaq

☆ Cooler inflation is good news, but don't bet on rate cuts, Wells Fargo's Schumacher says
▼ + stars: | 2023-07-12 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +1 min

Wells Fargo Securities' Michael Schumacher says the market is far too quick to price in interest rate cuts. The firm's head of macro strategy acknowledges the June consumer price index out Wednesday is encouraging. They're having a good old time," the firm's head of macro strategy told CNBC's " Fast Money " on Wednesday. Schumacher thinks the Fed will hike rates a quarter point in two weeks and possibly again in September. That could have big ramifications for the benchmark 10-year Treasury note yield.

Persons: Michael Schumacher, Schumacher, it's Organizations: Wells Fargo Securities, Federal Reserve, Treasury Locations: Wells Fargo

☆ BofA top equity strategist Savita Subramanian takes most bullish position in at least 10 years
▼ + stars: | 2023-06-20 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

"Most of the S & P 500 is actually generating free cash flow." Last month, Subramanian hiked her S & P 500 year-end target 7.5% to 4,300, with a range as high as 4,600. But I think there are parts of the S & P 500 that look incredibly attractive." She contends that mega-cap stocks are obscuring investment opportunities in the S & P 500 right now. "There are value opportunities, but they're right now being obscured by this sort of AI bubble."

Persons: Subramanian, We're, we've, it's Organizations: of America Securities, Big Tech

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