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☆ 'Tough near-term setup': Here's what Wall Street expects from Apple's 2nd-quarter earnings
▼ + stars: | 2024-05-01 | by ( Matthew Fox | ) www.businessinsider.com time to read: +6 min

Investors are focused on Apple's iPhone sales in China as competition ramps up. Here's what Wall Street expects from Apple's upcoming earnings report. Here are the quarterly figures Wall Street expects, according to data from Bloomberg. Here's what Wall Street analysts are saying about Apple's upcoming earnings report. The firm said Wall Street estimates on Apple are too high, with analysts underestimating the ongoing weakness in China.

Persons: —, Wells, Wells Fargo, shouldn't, Goldman Sachs, underwhelming Organizations: Apple, Investors, Service, Bloomberg, Revenue, Huawei, Barclays, Better, JPMorgan Locations: China, Wells Fargo, Wells, C1Q, Apple's

☆ AI stocks plunge after AMD gives weak forecast for chip sales
▼ + stars: | 2024-05-01 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

AI stocks plunged on Wednesday after AMD reported guidance that put a cloud over future AI chip demand. AdvertisementAI stocks plunged on Wednesday after AMD offered analysts 2024 revenue guidance for its AI chip that was below analyst estimates. AMD raised its 2024 revenue guidance for its MI300 AI chip by $500 million to $4 billion. While supply constraints seem to be a headwind for AMD's AI chip business, so too could be competition. The company's MI300 chip is a direct competitor to Nvidia's immensely popular H100 chip, and AMD claims that its chip outperforms Nvidia's.

Persons: —, Lisa Su, Goldman Sachs, Nvidia's, Jensen Huang, Huang Organizations: AMD, Micro Computer, Nvidia, Service, Bloomberg, Nvidia's, Stanford Economic

☆ Wall Street needs a new rhyme for 'sell in May and go away'
▼ + stars: | 2024-05-01 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Wall Street needs a new rhyme for "sell in May and go away." NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Advertisement"Sell in May and go away" is an old Wall Street adage that highlights the fact that the stock market's worst six-month stretch of performance is historically May through October. LPL Financial's chief technical strategist Adam Turnquist highlighted that since 1950, average returns for the S&P 500 during this six-month period are actually positive, not negative, at +1.7%.

Persons: Carson Group's Ryan Detrick, —, they're, LPL, Adam Turnquist, Turnquist, Ryan Detrick, Fundstrat's Tom Lee, Lee, Detrick Organizations: Service, Carson Group

☆ Pot stocks soar on report DEA will ease restrictions on cannabis
▼ + stars: | 2024-04-30 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Cannabis stocks soared on Tuesday after the AP reported that the DEA will soon reclassify marijuana. The move would ease restrictions on cannabis and acknowledge that it has medicinal benefits. According to the report, the DEA decision would be sent to the White House Office of Management and Budget for review. AdvertisementCannabis stocks soared on Tuesday after the AP reported that the US Drug Enforcement Administration is on the verge of reclassifying marijuana. Shares of Canopy Growth soared 37%, Village Farms stock soared 20%, and the AdvisorShares Pure Cannabis ETF jumped 18%.

Persons: — Organizations: AP, White, Office of Management, Service, US Drug, Village, Cannabis

☆ Bitcoin tumbles 5%, tests key $60,000 price level as sell signal looms
▼ + stars: | 2024-04-30 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The crypto tested $60,000 on Tuesday and fell below a key support level of $61,100, according to Katie Stockton. Stockton said bitcoin is on the verge of flashing a sell signal based on a weekly momentum indicator. AdvertisementThe price of bitcoin dropped 5% on Tuesday, sending the cryptocurrency to test the key psychological level of $60,000. But bitcoin is on the verge of experiencing a double whammy as it breaks below a key technical support level and flashes a technical sell signal, according to Fairlead Strategies founder Katie Stockton. According to Stockton, bitcoin lost momentum near its 50-day moving average of about $66,900, which proved to be stiff technical resistance.

Persons: Bitcoin, Katie Stockton, bitcoin, —, Stockton Organizations: Service Locations: Stockton

☆ Eli Lilly soars 8% after Q1 earnings reveal surging popularity for its Zepbound weight-loss drug
▼ + stars: | 2024-04-30 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The world's biggest healthcare company said it experienced surging demand for its GLP-1 Zepbound weight loss drug. Eli Lilly raised its 2024 revenue guidance, suggesting that the supply shortage of its weight loss drug may soon ease. The results showed soaring demand for its GLP-1 weight loss drug Zepbound, and the revenue guidance increase suggests that ongoing supply shortages of the drug may soon ease. "We have approximately 67% access in the commercial segment," Eli Lilly CFO Anat Ashkenazi said on the company's earnings call. Eli Lilly is looking to expand its indications of Zepbound so it can treat more health problems, including sleep apnea.

Persons: Eli Lilly, —, Zepbound, David Ricks, Eli Lilly's, Anat Ashkenazi, Ashkenazi, LLY, JPMorgan, JPMorgan isn't Organizations: Service, JPMorgan Locations: America

☆ Trump Media is up 92% since launching a crusade against short sellers
▼ + stars: | 2024-04-30 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Trump Media's crusade against short-sellers has coincided with a 92% rally in its stock price. Trump Media stock has attracted a lot of short-sellers since it went public last month. AdvertisementShares of Trump Media soared 12% on Monday following the press release and surged an additional 9% on Tuesday. Trump Media has attracted a lot of short-sellers since it went public last month, mostly due to the fact that it generated $58 million in losses on just $4 million in revenue last year. AdvertisementAccording to recent short-interest data, nearly 6 million shares of Trump Media are sold short, or about 8% of the company's share float.

Persons: Trump, —, Donald Trump's, TMTG Organizations: Trump Media, Service, Technology

☆ Stock market today: Indexes extend gains ahead of big week for earnings and the economy
▼ + stars: | 2024-04-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Investors are preparing for the busiest week of earnings, with Amazon and Apple set to report. On the economic front, investors will be paying attention to the Fed meeting and jobs report. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIt's a big week ahead for the stock market, and so far investors are heading into it feeling upbeat as equity indexes extended their gains from last week in early Monday trades. Economists expect 250,000 jobs to have been added to the economy in April, down from the big March figure of 303,000 jobs adds.

Persons: —, Raymond James, Larry Adam, Jerome Powell Organizations: Amazon, Service, Federal

☆ Stock market today: US stocks edge higher ahead of earnings deluge and Fed policy meeting
▼ + stars: | 2024-04-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks jumped on Monday, extending gains from last week as investors digest Q1 earnings results. Also on the radar is this week's Federal Reserve meeting and interest rate decision and the April jobs report. Amazon and Apple will headline this week's earnings results, and an additional 170 S&P 500 companies are expected to report their results throughout the week. So far, about half of S&P 500 companies have reported earnings results. Apart from earnings, investors will be paying close attention to the Federal Reserve's FOMC meeting on Wednesday.

Persons: —, Jerome Powell Organizations: Apple, Reserve, Service, Federal, Macquarie Locations: Fundstrat, Here's

☆ A new ETF offers investors '100% downside protection' on the stock market. The catch is that it also limits upside.
▼ + stars: | 2024-04-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

A new ETF is designed to offer investors "100% downside protection" to the stock market. The Calamos S&P 500 Structured Alt Protection ETF will launch on Wednesday under the ticker symbol "CPSM". AdvertisementA new ETF promises to offer investors "100% downside protection" to the stock market, but it comes with a few caveats. The catch is that it also limits investors' upside gains to the S&P 500 at a range of 9.20% to 9.65%. The other catch is that for investors to secure the 100% downside protection, they must buy the ETF on its first day of issuance.

Persons: —, Matt Kaufman, Kaufman, Russell Organizations: Service, CNBC, Nasdaq

☆ It's going to be a massive week for the stock market
▼ + stars: | 2024-04-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

It's a big week for the stock market with a deluge of economic data set to be released. AdvertisementIt's going to be a massive week for the stock market as investors prepare for a deluge of economic data and corporate earnings results. Raymond James' chief investment officer Larry Adam highlighted the top five things to watch this week that could have a big impact on stock market prices. Finally, the April jobs report set to be released on Friday will be closely watched by investors. The jobs report will provide an update on the strength of the labor market," Adam said.

Persons: Raymond James, —, Larry Adam, Adam, Jerome Powell, Powell, Treasurys Organizations: Fed, Service, Treasury Department, Treasury, Apple, Investors, ISM Manufacturing, Manufacturing

☆ Why economists who originally expected multiple deep rate cuts in 2024 now say a hike is possible
▼ + stars: | 2024-04-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

From deeps rate cuts to a potential rate hike in 2024, one firm has changed its forecast in a big way. Macquarie said the resilient economy means potential interest rate cuts won't happen until 2025. Assuming the central bank moves the federal funds rate down by 25 basis point increments, that would equate to nine interest rate cuts just this year. AdvertisementThat lack of economic weakness has led to a stark shift in interest rate forecasts, with even the Federal Reserve suggesting that its initial projections of three interest rate cuts this year could dwindle to one rate cut or even none. That could be a double whammy for a stock market that had been largely fixated on interest rate cuts this year.

Persons: Macquarie, —, David Doyle, Neil Shankar, Jerome Powell Organizations: Service, Macquarie, Federal Reserve, Fed, UBS

☆ The AI-fueled stock market bubble will crash in 2026, research firm says
▼ + stars: | 2024-04-27 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The AI-fueled stock market bubble will burst in 2026, according to Capital Economics. The research firm said rising interest rates and higher inflation will weigh down equity valuations. AdvertisementAn artificial intelligence-fueled stock market bubble will burst in 2026, according to Capital Economics. The research firm has said that a stock market bubble, driven by investor excitement towards artificial intelligence, would drive the S&P 500 to as high as 6,500 by 2025, led by technology stocks. The expected bursting of the stock market bubble should lead to a decade of investment returns that favor bonds over stocks.

Persons: —, Diana Iovanel, James Reilly, Iovanel, Reilly Organizations: Capital Economics, Service, Capital, US

☆ Why the S&P 500 is poised to gain 3% over the next 20 days, says JPMorgan's trading desk
▼ + stars: | 2024-04-25 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

A tactical buy signal just flashed in the stock market, according to JPMorgan's trading desk. AdvertisementA tactical buy signal just flashed in the stock market, according to a Tuesday note from JPMorgan's trading desk. The buy signal suggests that the S&P 500 could jump 3% within the next 20 days, which would put the index within spitting distance of its all-time high. But a bullish buy signal isn't enough to push the stock market higher on its own, JPMorgan's trading desk admitted. Instead, for this most recent buy signal to be successful, corporate first-quarter earnings will have to deliver and geopolitical tensions will have to cool down.

Persons: —, What's Organizations: JPMorgan, Service, Tactical Positioning

☆ Tesla could follow a 4-part path to 35% stock upside after shaking off earnings worries, BofA says
▼ + stars: | 2024-04-24 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Tesla stock could surge 35% after its first-quarter earnings results, according to Bank of America. The bank upgraded Tesla stock to "Buy" and detailed a 4-part plan that could boost the stock. "The tide in news flow appears to suggest the risk to the stock is skewing more positively," BofA said. AdvertisementPositive catalysts are starting to build for Tesla after it announced a dismal first-quarter earnings report, according to Bank of America. Bank of America analyst John Murphy upgraded Tesla stock to "Buy" from "Neutral" and reiterated his $220 price target, representing potential upside of 35% from current levels.

Persons: BofA, —, Tesla, John Murphy, Murphy Organizations: Bank of America, Service, Tesla, Investors

☆ Tesla stock soars 14% after Elon Musk commits to affordable vehicle launch following Q1 earnings miss
▼ + stars: | 2024-04-24 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Tesla stock surged as much as 14% on Wednesday after the company reported 1st-quarter earnings. While the company badly missed analyst estimates, Elon Musk did commit to an affordable car. "We're updating our future vehicle lineup to accelerate the launch of our low-cost vehicles," Tesla said. So, I mean, if somebody doesn't believe Tesla is going to solve autonomy, I think they should not be an investor in the company," Musk said. While Ives remained bullish on Tesla stock, he did lower his price target to $275 from $300.

Persons: Elon Musk, Tesla, —, Lars Moravy, Musk, robotaxi, it's, Dan Ives, Ives Organizations: Elon, Service, Tesla, Reuters, Wall Street

☆ Investors are ramping up their exits from Cathie Wood's ARK after an epic 72% decline in her flagship fund
▼ + stars: | 2024-04-23 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Investors are ramping up outflows from Cathie Wood's ARK funds after a three-year decline. The suite of ARK ETFs has seen net outflows of $2.2 billion so far this year, triple the outflows in 2023. AdvertisementInvestors in Cathie Wood's ARK ETFs are starting to increase the pace of outflows after a string of bad bets and a painful three-year decline. The ARK ETFs' combined assets under management stand at $11.1 billion, down 81% from its peak AUM of $59 billion in 2021. This dynamic — the sharp decline in ARK funds while the broader stock market hits record highs — was highlighted by Morningstar earlier this year.

Persons: —, Morningstar, Amy Arnott, Wood, Tesla Organizations: Service, Innovation, Morningstar, Nvidia, Unity Software

☆ Gold prices have another 29% upside as China's central bank continues its buying spree, famed economist says
▼ + stars: | 2024-04-23 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Gold prices are set to continue their record bull run to $3,000 per ounce, according to David Rosenberg. Rosenberg highlighted a buying spree from China's central bank as one reason why prices will rise. AdvertisementFamed economist David Rosenberg is feeling good about where gold prices are headed. But its share of gold reserves is tiny compared to other central banks, with the global average being 13%. That means there could be plenty of runway left for China to keep adding to its gold reserves.

Persons: David Rosenberg, Rosenberg, —, it's Organizations: Federal, Service, Fed Locations: China

☆ Live updates: Tesla to report quarterly earnings today after market close
▼ + stars: | 2024-04-23 | by ( Joe Ciolli | Matthew Fox | ) www.businessinsider.com time to read: +1 min

Tesla reports first-quarter earnings on Tuesday. The EV maker has been under pressure after a reported pivot away from a low-cost vehicle model. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTesla will report first-quarter earnings on Tuesday after the closing bell.

Persons: Tesla, — Organizations: Service, Business

☆ Taylor Swift's name is popping up on Wall Street earnings calls thanks to her massive impact on the US economy
▼ + stars: | 2024-04-19 | by ( Matthew Fox | ) www.businessinsider.com time to read: +1 min

Taylor Swift's impact on the economy is having a positive impact on individual companies. Swift's name has been popping up on Wall Street earnings calls recently, often referencing how she's helped business performance. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementTaylor Swift's impact on the US economy started to become clear last year during the middle of her incredibly popular Era's Tour, and the impact has spilled over to the bottom line for individual companies. This story is available exclusively to Business Insider subscribers.

Persons: Taylor, she's, Swift, — Organizations: Wall, Service, Poets Department, Business

☆ Mark Zuckerberg overtakes Elon Musk as the world's 3rd-richest person as their companies' stocks go in opposite directions
▼ + stars: | 2024-04-18 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Mark Zuckerberg has overtaken Elon Musk as the world's third-richest person, with a $175 billion fortune. Zuckerberg has gained $47 billion in wealth this year while Musk has lost $55 billion, according to data from Bloomberg. Mark Zuckerberg had a net worth of $175 billion as of Wednesday, just slightly overtaking Musk's net worth of $174 billion. Year-to-date, Zuckerberg has added $47.3 billion to his net worth while Musk has seen his net worth decline by $55.2 billion. Related storyMusk is ahead of Bill Gates' $149 billion fortune, while Zuckerberg is behind Jeff Bezos' $203 billion fortune and Bernard Arnault's $221 billion net worth.

Persons: Mark Zuckerberg, Elon Musk, Zuckerberg, Musk, —, Bill Gates, Jeff Bezos, Bernard Arnault's Organizations: Bloomberg, Meta, Service, Tesla, Facebook, SpaceX

☆ A CIO details 4 reasons why the recent inflation spike is temporary — and says the Fed will still cut rates 3 times this year
▼ + stars: | 2024-04-15 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Raymond James' CIO also explained why he still sees the Fed cutting interest rates three times in 2024. But according to Raymond James chief investment officer Larry Adam, inflation is set to reverse lower and the Fed is going to cut interest rates at least three times this year. AdvertisementIf the economy slows, then so should inflation, and it should give the Fed more confidence to begin cutting interest rates. Real-time inflation metrics show a sharp declineWhile official government metrics show stubbornly high rent and used vehicle prices, real-time measures show considerably lower prices. The point is: there should be plenty of disinflation in the pipeline as CPI converges with some of these more real-time metrics," Adam said.

Persons: Raymond James, Larry Adam, Adam Organizations: Reserve, Fed, Labor, ISM Manufacturing, ISM

☆ These 5 recession indicators have escaped the danger zone after flashing economic red flags
▼ + stars: | 2024-04-12 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Five recession indicators that were flashing a warning sign about the economy have since retreated. AdvertisementVarious economic indicators that suggested a recession was imminent not too long ago have since retreated, according to Ned Davis Research. That means investors probably don't have to worry about an economic recession occurring any time soon. AdvertisementThese are the five recession indicators that are no longer flashing red as the resilient US economy continues to power forward. In February, the LEI ticked up 0.1% and the Conference Board no longer expects a recession," Kalish said.

Persons: Ned Davis, Joseph Kalish, Kalish, Board's LEI, LEI Organizations: Ned Davis Research, NDR, Gross, GDI, Conference Board

☆ The economy is sending mixed signals about a recession, and that's made the timing of the next rate cut less meaningful
▼ + stars: | 2024-04-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The economy is sending mixed signals about a potential recession in the near future, according to Ned Davis Research. The conflicting data suggests the Fed should de-emphasize when it will cut interest rates. AdvertisementThe US economy is sending mixed signals about when the next recession will arrive. Other economic indicators that measure manufacturing activity have been improving lately and argue for a long runway of economic growth ahead. That advice appears especially poignant following the release of the hotter-than-expected March CPI report, which plunged the probability of the first Fed interest rate cut happening in June from 50% to about 20% and pushed out the likelihood of a rate cut to July.

Persons: Ned Davis, Joseph Kalish, Kalish, Powell Organizations: Ned Davis Research, NDR, Federal Reserve Locations: Europe

☆ Goldman Sachs now sees just 2 interest rate cuts in 2024 with auto insurance keeping inflation hot
▼ + stars: | 2024-04-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

The Fed is going to cut interest rates just two times in 2024, according to Goldman Sachs. The bank lowered its rate cut forecast from three to two following a hot March inflation report. "We are pushing back our forecast of the first rate cut from June to July," Goldman Sachs said. Still, following the hot CPI report, Hatzius bumped his expectations for the March PCE report. AdvertisementPart of Goldman's confidence in just two interest rate cuts this year stems from the fact that the Federal Reserve's most recent dot plot showed a central bank that was almost evenly split between two or three interest rate cuts this year.

Persons: Goldman Sachs, Jan Hatzius, Hatzius Organizations: Dow Jones, Investors, Federal

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