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☆ Goldman Sachs analysts say there’s still potential for more stock gains
▼ + stars: | 2024-03-24 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

The S&P 500 has surged more than 10% since January, and last week it surpassed Goldman Sachs’ year-end target of 5,200. The question is weighing heavily on the minds of investors, Goldman Sachs’ strategists wrote in a note Friday. The current rally in growth stocks is different from what happened when markets crashed in 2021 or during the tech bubble, the analysts wrote. Either of these shifts higher, analysts wrote, are dependent on the Federal Reserve’s next policy move. But for now, Goldman analysts will keep their baseline prediction of 5,200 for the S&P 500 unchanged.

Persons: New York CNN — It’s, Goldman Sachs, David Kostin, ”, Goldman Organizations: New, New York CNN, Federal, “ Locations: New York

☆ We're in a 'boomer renaissance,' top hedge fund manager says — naming sectors and stocks to play it
▼ + stars: | 2024-03-05 | by ( Weizhen Tan | ) www.cnbc.com time to read: +1 min

Top hedge fund manager David Neuhauser says the world is in a "boomer renaissance" and investors should be betting big on certain sectors that play the theme. "They are the one demographic which owns the most assets (homes, stocks, bonds, etc) with low fixed rate mortgages," Neuhauser said. He told CNBC Pro, "I think the world is in this boomer renaissance now and there are some stocks that are seeing great moves." He added that the stocks "are not mega tech which shows you other areas tied to the wealth [effect] are helping broadening out gains." Below are the stocks he named and the buy ratings and average upside given by analysts covering them, according to FactSet.

Persons: David Neuhauser, Neuhauser, CNBC's Organizations: Livermore Partners, Big Pharma, CNBC

☆ CNBC Daily Open: U.S. jobs growth kicked off with a bang
▼ + stars: | 2024-02-05 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

A "Now Hiring" sign at an Advance Auto Parts store in San Leandro, California, US, on Tuesday, Aug. 15, 2023. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The benchmark S&P gained 1.07%, while the Dow Jones Industrial Average added 0.4%. [Pro] Citi's top global picksCiti highlighted its list of "high-conviction" stock picks across global markets.

Persons: Stocks, Jerome Powell, Houthi Organizations: CNBC, Dow Jones, Nasdaq, McDonalds, Ford, U.S . Central Command, NBC News, U.S . Navy, Apple, Huawei, Citi Locations: San Leandro , California, U.S, Yemen, Red, China

☆ CNBC Daily Open: A scorching start for U.S. jobs growth
▼ + stars: | 2024-02-05 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. "We just want some more confidence before we take that very important step of beginning to cut interest rates," he said. Gold, silver advanceGold and silver could rise further this year on hopes that the U.S. Federal Reserve will lower interest rates, said UBS. "Also, this comes with a weaker dollar," said Joni Teves, adding gold will likely hit $2,200 per ounce in 2024.

Persons: Jerome Powell, Hong, Joni Teves Organizations: CNBC, U.S . Federal, CSI, Dow, Nasdaq, UBS, U.S, Senators, House Republicans, Citi Locations: China, U.S, Ukraine, Israel

☆ CNBC Daily Open: Mega tech earnings grab attention
▼ + stars: | 2024-02-02 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. South Korea led gainsIn Asia, South Korea markets led gains on Friday that tracked Wall Street's rebound from the sell-off of the previous session. Amazon also gave an upbeat guidance for the first quarter as the company reported results that easily topped estimates. Gold demand soarsGeopolitical tensions and a sluggish China economy drove demand for gold to record highs in 2023, the World Gold Council reported. Total gold demand was 4,899 tons last year compared with 4,741 tons in 2022, including over-the-counter transactions and stock flows.

Persons: Jevons Global's Kingsley Jones Organizations: Facebook, New York Stock Exchange, CNBC, Dow, Nasdaq, Meta, Amazon, Apple, Gold Locations: New York City, South Korea, Asia, China

☆ CNBC Daily Open: More mega tech earnings in spotlight
▼ + stars: | 2024-02-02 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

The share price of Facebook stock is seen at the Nasdaq stock market in New York. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Wall Street ralliesWall Street closed on a positive note Thursday. He added cutting back spending plans for electric vehicles could actually help Ford to impress Wall Street investors.

Persons: Meta, Ford, Morgan, Adam Jonas Organizations: Nasdaq, CNBC, Federal Reserve, Dow, Meta, Apple, Amazon Web Services, Ford, U.S, automakers, Wall Locations: New York, China

☆ Amazon and Roomba maker call off acquisition deal, iRobot lays off staff instead
▼ + stars: | 2024-01-29 | by ( Jennifer Korn | ) edition.cnn.com time to read: +4 min

CNN —Amazon and iRobot, the maker of the popular Roomba vacuum, mutually called off their estimated $1.7 billion acquisition deal Monday, citing numerous regulatory hurdles. Amazon (AMZN), which was up about 0.5% in noon trading, will pay iRobot a previously agreed-upon $94 million cancellation fee. IRobot said the restructuring plan, impacting around 350 employees, is intended to save the company up to $150 million. In November, the European Commission said the deal could hamper competition in the robot vacuum sector. Earlier this month, the Wall Street Journal reported that the European Commission planned to block the deal.

Persons: iRobot, Colin Angle, Glen Weinstein, IRobot, “, ” Andrew Miller, iRobot’s, ” David Zapolsky, Lina Khan, ”, Meta Organizations: CNN, European, Federal Trade, European Union, European Commission, Wall Street Journal, Amazon, Federal Trade Commission, Commission, Amazon . Tech, Adobe, EU, UK, Nvidia, UK’s Competition, Markets Authority, Activision Blizzard, CMA Locations: Europe

☆ Meta is the ‘cheapest high-quality tech stock’ despite monster rally, says Evercore's Mark Mahaney. Why he thinks it can move even higher
▼ + stars: | 2023-10-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +1 min

Evercore ISI's Mark Mahaney sees the potential for more upside ahead for Meta , despite the stock's monster rally so far this year. It's a big week for mega tech earnings and the social media giant is expected to report on Wednesday. META YTD mountain Meta's year-to-date performance Meta has been able to recover its advertising momentum, said Mahaney, Evercore's head of internet research, in an interview with " Squawk Box " Friday. The company will give next year's forecast on capital expenditures and total expenses during its earnings report — one of the few who does so, Mahaney said. "If that shows continued moderation in growth, the year of efficiency becomes the years of efficiency [and] this stock rerates higher because Meta is the cheapest high-quality tech stock out there at 16 times earnings," he said.

Persons: Evercore, Mark Mahaney, It's, Meta, Mahaney Organizations: Meta

REUTERS/Robert Galbraith/File Photo Acquire Licensing RightsORLANDO, Florida, Aug 30 (Reuters) - To buy back, or not to buy back. The highest U.S. interest rates in over 20 years coupled with Wall Street's remarkable resilience has brought an old boardroom dilemma into sharp focus: are share buybacks worth it? Ditto Apple, Chevron, Alphabet and Wells Fargo, which this year have announced buybacks of $90 billion, $75 billion, $70 billion and $30 billion, respectively. Figures from Refinitiv show that S&P 500 companies spent more than $6 trillion on stock buybacks in the decade through 2022. Reuters Image Acquire Licensing Rights(The opinions expressed here are those of the author, a columnist for Reuters.)

Persons: Robert Galbraith, Joe Kleven, Ali Ragih, Nicholas Guest, Kothari, Parth Venkat, Jamie McGeever Organizations: Nvidia, REUTERS, Rights, U.S, Chevron, Mega Tech, Marathon Petroleum, VerityData, Reuters, Apple, Microsoft, Google, Corporate, Cornell University, S.P, Massachusetts Institute of Technology, University of Alabama, Thomson, & ' $ Locations: Santa Clara , California, Rights ORLANDO , Florida, Wells, YCharts, VerityData, U.S, underperformed

In the two months since hedge funds began bailing on their record net short position in S&P 500 futures their equity returns have accelerated, narrowing the yawning year-to-date underperformance versus the broader market. Against that backdrop, perhaps not, although the weekly momentum on funds' S&P 500 futures positioning is the most bullish since December 2021. Reuters ImageReuters ImageReuters ImageThe latest CFTC figures show that hedge funds' net short position in e-mini S&P 500 futures at the end of July was around 200,000 contracts, the smallest net short since March. Just two months ago, at the end of May, funds were net short to the tune of 434,000 contracts, the largest net short position on record since these contracts were launched in 1997. If equity strategy-based hedge funds are slowly turning their poor 2023 performance around, their macro fund peers continue to struggle.

Persons: Brendan McDermid, Jamie McGeever, Jonathan Oatis Organizations: New York Stock Exchange, REUTERS, HFRI, Futures, Reuters, CFTC, ICE, Thomson Locations: New York City, U.S, ORLANDO, Florida

Aug 2 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. A double dose of the U.S. Treasuries and dollar 'pain trade' looks set to put Asian markets on the defensive on Wednesday, with investors also bracing for South Korean inflation figures and an expected interest rate hike from the Bank of Thailand. Several indicators, from big Wall Street banks' client surveys to futures market positioning data, show investors are not positioned for that. The yen has fallen nearly 4% since the BOJ tweaked its seven-year 'yield curve control' policy on Friday. Annual inflation in South Korea, meanwhile, is expected to have slowed to 2.40% in July from 2.70% the month before.

Persons: Jamie McGeever, Tuesday's, Deepa Babington Organizations: Bank of Thailand, Bank of, Apple, South, South Korea CPI, PMI, Thomson, Reuters Locations: Asia, Pacific, U.S, South Korea, Thailand, Singapore

☆ Asian shares subdued after US tech falters, dollar and yields hold gains
▼ + stars: | 2023-07-21 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) slipped 0.5%, heading for a weekly loss of 1.8%. Shares of Taiwanese chipmaker TSMC (2330.TW) slumped 3.3%, after the world's largest contract chipmaker flagged a 10% drop in 2023 sales. The U.S. dollar index was little changed at 100.78, after advancing 0.5% overnight, the biggest one-day gain since mid-May. The Australian dollar gave up almost all of its gains made after a strong local jobs data release to hover below 68 cents. Brent crude futures were up 0.8% at $80.27 per barrel and U.S. West Texas Intermediate crude futures rose 0.8% to $76.25.

Persons: BOJ, TSMC, HSI, Wanda, Betty Wang, Stella Qiu, Lincoln Organizations: Netflix, Fed, ECB, Tesla, Treasury, Nasdaq, U.S . Federal Reserve, European Central Bank, Bank of Japan, Japan's Nikkei, HK, ANZ, U.S, Australian, TD Securities, Brent, . West Texas, Thomson Locations: SYDNEY, U.S, Asia, Pacific, Japan, China, Beijing, Europe

☆ Asian shares fall after US tech falters, dollar and yields hold gains
▼ + stars: | 2023-07-21 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) dropped 0.5%, heading for a weekly loss of 1.8%. China's bluechips (.CSI300) dipped 0.2% while Hong Kong's Hang Seng index (.HSI) bucked the trend with a gain of 0.4%. The onshore yuan was 0.2% higher at 7.1674 per dollar after the central bank set a much stronger guidance rate than expected. The U.S. dollar index was little changed at 100.78, after advancing 0.5% overnight, the biggest one-day gain since mid-May. The Australian dollar gave up almost all of its gains made after a strong local jobs data release to hover below 68 cents.

Persons: BOJ, Tesla, TSMC, China's, Wanda, Tony Sycamore, Stella Qiu, Lincoln Organizations: Netflix, Fed, ECB, Treasury, U.S . Federal Reserve, Bank of Japan, Japan's Nikkei, Authorities, Nasdaq, Tesla, IG, Microsoft, Apple, Meta, Federal Reserve, U.S, Australian, European Central Bank, TD Securities, Brent, . West Texas, Thomson Locations: SYDNEY, U.S, Asia, Pacific, Japan

ORLANDO, Florida, July 20 (Reuters) - Chinese stocks have traded at a discount to global peers for over a decade but have rarely been cheaper than they are now. The fact that U.S. equities are more expensive than Chinese stocks is nothing new. At minimum, investors will need clearer evidence of a turnaround in China's economic and market conditions before moving back into its equities in any great size. The era of double-digit annual GDP growth looks to be over, and challenges are multiple and mounting. Nominal annual GDP growth of 4.8% in the second quarter was lower than real GDP growth of 6.3%, a huge deflation red flag.

Persons: Goldman Sachs, China's, Zhang Zhiwei, Zhang Dandan, Jamie McGeever, Jamie Freed Organizations: Nasdaq, NYSE, Monetary Fund, Citi, Bank of America, Societe Generale, Peking University, Wall, Reuters, Thomson Locations: ORLANDO, Florida, China, United States, U.S, Beijing, India

July 21 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The regional data focus on Friday will be the latest consumer inflation figures from Japan. Core consumer inflation likely re-accelerated in June to a 3.3% annual rate from 3.2% the previous month, staying above the central bank's 2% target for the 15th straight month. In its mid-year review, the government expects overall consumer inflation to hit 2.6% for the fiscal year that began in April, up sharply from 1.7% projected in January. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Jamie McGeever, Thursday's, Dow Jones Industrials, Johnson, Kazuo Ueda, Janet Yellen, Josie Kao Organizations: Nasdaq, Netflix, Johnson, U.S, Treasury, Bank of Japan's, . Treasury, Thomson, Reuters Locations: Asia, Japan, South Korea, Vietnam

☆ A breakdown of the changes to the Nasdaq-100 and what it means for mega-cap tech stocks
▼ + stars: | 2023-07-17 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The biggest stocks in the market will soon get taken down a peg or two, at least on paper. The seven largest stocks in the Nasdaq-100 will be diluted down to 44% of the index from the current 56%. The changes mean the Invesco QQQ Trust and other funds that closely follow the index will need to sell some of the biggest stocks in the market this week. "Nasdaq slashed the NDX weight of AAPL from 20% to 12%, but this change had no clear negative effect on the stock's performance. The rebalance comes as the increased concentration of large-cap tech stocks has raised concerns the current market rally is unsustainable.

Persons: Goldman Sachs, David Kostin, Kostin, Lori Calvasina, Bram Kaplan, CNBC's Michael Bloom Organizations: Nasdaq, Nvidia, Microsoft, Apple, Broadcom, RBC Capital Markets, JPMorgan

☆ Here's an A.I. pure play that could get bought by a megacap tech, says investor Paul Meeks
▼ + stars: | 2023-07-12 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Longtime tech investor Paul Meeks said artificial intelligence pure play C3.ai could be a potential winner as the firm might be a acquisition target for megacap tech companies. "One pure play AI company, C3.ai, probably at some point successfully sells itself to one of the mega tech cap companies," Meeks said on CNBC Pro Talks Wednesday. Siebel sold his prior software company, Siebel Systems, to Oracle for nearly $6 billion in 2006. Three years later, he started C3.ai , a provider of AI solutions to businesses. C3.ai uses AI to predict a host of issues ranging from fraud detection to helping companies optimize their operations.

Persons: Paul Meeks, Meeks, Tom Siebel's, Siebel, Tom Siebel, it's, Baker Hughes Organizations: CNBC Pro, Independent Solutions Wealth Management, Siebel Systems, Oracle, Forbes, U.S . Department of Defense, Shell

Even taking into account the dotcom bust and market crash following the 1999-2000 cycle, stocks still shone brighter. The average return of a 100% equity portfolio was 12.75%, an all-bond portfolio returned 9.10%, and a 60/40 portfolio generated 11.09% on average. Equities returned around 26% in the year after the Fed stopped tightening, bonds between 6-8%, and a 60/40 portfolio around 18%. Blended together, a 60/40 portfolio generated double-digit returns after five of these six cycles, including 25% in the mid-1990s. No two economic cycles, Fed reaction functions, inflationary dynamics or asset price dynamics are the same.

Persons: Joe Kleven, Kleven, Paul Volcker, Shelly Simpson, Simpson, Jamie McGeever, Andrea Ricci Organizations: Fed, Nasdaq, NYSE, Mega Tech, ICE, Treasury, Reuters, Thomson Locations: ORLANDO, Florida

☆ Goldman Sachs: Buy these 8 stocks that have nearly doubled the market's gains this year and are set to catapult their profit and sales growth over the next 2 years
▼ + stars: | 2023-07-04 | by ( Laila Maidan | ) www.businessinsider.com time to read: +2 min

Most of the S&P 500's gains have historically come from the top seven to 10 names. According to Goldman Sachs, these companies were able to grow sales quickly and consistently. But these stocks do have a commonality that they can attribute their success to: the ability to grow sales quickly and consistently, reads the note. In conclusion, identifying the next set of companies that can sustain sales growth by over 10% could be a winning strategy. Each stock includes its price-to-earnings ratio for the next 12 months, and its sales and net income CAGR between 2022 to 2025.

Persons: Goldman Sachs, David Kostin Organizations: Apple, Microsoft, Nvidia

June 29 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The cold reality of 'higher for longer' interest rates that cooled investor sentiment on Wednesday will lend a cautious tone to Asian trading on Thursday, with investors also wary of potential action from Tokyo and Beijing on exchange rates. On the regional data front retail sales and consumer confidence from Japan and Australian retail sales take center stage, while investors with exposure to Vietnam will be paying close attention to second quarter GDP growth figures from Hanoi. Annual profits at China's industrial firms extended a double-digit decline in the first five months as softening demand squeezed margins. Here are key developments that could provide more direction to markets on Thursday:- Japan retail sales and consumer confidence (May)- Australia retail sales (May)- Vietnam GDP (Q2)By Jamie McGeever;Our Standards: The Thomson Reuters Trust Principles.

Persons: Jamie McGeever, Treasuries Organizations: Central, Wall, Apple, Thomson, Reuters Locations: Tokyo, Beijing, Japan, Vietnam, Hanoi, Sintra , Portugal, U.S, China, Australia

☆ Goldman Sachs: Buy these 39 low-risk stocks expected to nearly triple the S&P 500's gains in the next year
▼ + stars: | 2023-06-27 | by ( Laila Maidan | ) www.businessinsider.com time to read: +2 min

Goldman Sachs has newly identified 39 stocks that offer high returns relative to their risk. They expect the median stock in their basket to nearly triple the median S&P 500 name. The S&P 500 had rallied 13% year-to-date as of Tuesday. Goldman's stock picks are contained in its recently rebalanced High Sharpe Ratio basket (GSTHSHRP). Below is a list of the 39 stocks recently added to the High Sharpe Ratio basket.

Persons: Goldman Sachs, David Kostin, Sharpe, Kostin

☆ Hopes for a Fed pause bolster risk rally
▼ + stars: | 2023-06-13 | by ( Jamie Mcgeever | ) www.reuters.com time to read: +3 min

(Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Traders are putting a 95% probability on the Fed standing pat on Wednesday, a consensus so strong the Fed will almost certainly respect. The focus for investors will be on the statement and Fed Chair Jerome Powell’s press conference for signs on whether it will be a ‘hawkish’ or ‘dovish’ pause. The NYSE FANG+ index of mega tech stocks rose 0.9% for a fourth consecutive daily rise, bringing its year-to-date gains to 72%. One major headwind, particularly for Asian assets, could be the surge in U.S. Treasury yields, although that for now at least is being mitigated by the dollar’s slide to a three week low.

Persons: Jamie McGeever, Amit Dave, China’s, Jerome Powell’s, ’ Organizations: Reuters, REUTERS, Federal, Nasdaq, Traders, NYSE, Japan’s Nikkei, Treasury Locations: Ahmedabad, India, U.S, South Korea, Asia, Japan, New Zealand

June 14 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. This could be a precursor to lower benchmark interest rates in the coming weeks - yuan traders certainly seem to think so. Traders are putting a 95% probability on the Fed standing pat on Wednesday, a consensus so strong the Fed will almost certainly respect. The NYSE FANG+ index of mega tech stocks rose 0.9% for a fourth consecutive daily rise, bringing its year-to-date gains to 72%. One major headwind, particularly for Asian assets, could be the surge in U.S. Treasury yields, although that for now at least is being mitigated by the dollar's slide to a three week low.

Persons: Jamie McGeever, China's, Jerome Powell's, Jamie McGEever Organizations: Federal, Nasdaq, Traders, NYSE, Japan's Nikkei, Treasury, Thomson, Reuters Locations: U.S, South Korea, Asia, Japan, India, New Zealand

The Bank of Canada's decision to raise rates to a 22-year high of 4.75% was not widely expected. This followed an equally surprising rate hike from Australia the day before, a one-two hawkish punch from policymakers that investors had probably not braced for. The Reserve Bank of India is expected to leave its key interest rate unchanged at 6.50% and for the rest of 2023, according to a Reuters poll of economists. The Australian dollar, which hit a one-month high on Wednesday following the RBA's rate hike, could get a nudge from Australian trade data on Thursday. Here are three key developments that could provide more direction to markets on Thursday:- India interest rate decision- Japan GDP (Q1, revised)- Australia trade (April)By Jamie McGeever;Our Standards: The Thomson Reuters Trust Principles.

Persons: Jamie McGeever Organizations: Nasdaq, Mega Tech, Reserve Bank of, U.S, Thomson, Reuters Locations: India, Canada, Australia, Reserve Bank of India, Japan

The Reserve Bank of Australia delivers its latest interest rate decision on Tuesday, undoubtedly the centerpiece event for Asian and Pacific markets but potentially of interest to U.S. Fed watchers too. Interest rate futures markets currently attach a 66% chance the RBA pauses, and a one-in-three chance it raises the cash rate by a quarter point to 4.10%. Holders of Australian assets will be pay particularly close attention to policymakers' statement and RBA governor Philip Lowe's press conference after the decision for guidance. Here are three key developments that could provide more direction to markets on Tuesday:- Australia interest rate decision- Australia current account (Q1)- Japan household spending (April)By Jamie McGeever;Our Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Jamie McGeever, Philip Lowe's Organizations: Reserve Bank of Australia, Fed, Reserve, Australian, Apple, Thomson, Reuters Locations: U.S, Australia, Japan

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