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☆ Stocks' bull run will end in a bubble or recession, says Bank of America strategist
▼ + stars: | 2024-05-03 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Stocks are in a "late secular bull market," BofA's Michael Hartnett said in a Friday research note. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe bull market that's pushed stock prices higher for the past year and a half will probably end in tears, Bank of America's Michael Hartnett warned. Equities are in a "late secular bull market" that likely "ends with [a] bubble and/or recession," the bank's chief investment strategist wrote in a Friday research note seen by Business Insider. Hartnett's bearish stance clashes with the view held by BofA's head of US equity and quantitative strategy, Savita Subramanian, who has predicted that stocks' bull market will last.

Persons: BofA's Michael Hartnett, —, of America's Michael Hartnett, Hartnett's, Hartnett, Marko Kolanovic, BofA's, Savita Subramanian, stagflation Organizations: Service, of America's, Business, JPMorgan

☆ Bank of America's top global strategist warns of growing bubble risk in the stock market as the economy heads for a no-landing scenario — and shares 3 charts showing the market could be headed for tro
▼ + stars: | 2024-04-20 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Read previewMichael Hartnett, Bank of America's top global strategist, thinks a no-landing scenario is the most-likely outcome for the US economy in the months ahead. That means the labor market would remain strong, but inflation would also stay above the Federal Reserve's long-term goal of 2%. While that's fine for now, Hartnett warns it's a path that eventually leads to trouble for the economy and stocks. "We say rising no landing risks = rising hard landing risks," Hartnett said in an April 11 note. The fund's price dipped below its 200-day moving average in 2020 and 2022, when the economy slowed and stocks underperformed.

Persons: —, Michael Hartnett, Hartnett, it's, Michael Landsberg Organizations: Service, Bank of America's, Business, Consumer, Bank of America, Landsberg Bennett, Wealth Management, Fed Locations: REITs, Ukraine

☆ How the businessman who blew up MoviePass tried to create a 'TikTok killer' and cost investors millions
▼ + stars: | 2024-04-01 | by ( Ashley Rodriguez | Jason Guerrasio | ) www.businessinsider.com time to read: +22 min

At Vinco, Farnsworth employed several of the same tactics that he had at MoviePass and at his earlier ventures. "Ted took these press releases and really treated them like they were works of art for him," Matt Argall, a former advisor to Farnsworth, told BI. Hudson Bay has not been served the lawsuit as of the publication of this story. "Hudson Bay's investment in Vinco Ventures was a standard, fixed price convertible loan of which millions remain unpaid," Hudson Bay told BI in a statement. "If served, Hudson Bay will seek to have these baseless, factually flawed and frivolous claims, which have been repeatedly dismissed in other proceedings against other parties, dismissed expeditiously."

Persons: MoviePass, Ted Farnsworth, Maria Bartiromo, he'd, Farnsworth, Jaeson Ma, Ted Farnsworth playbook, Ted, Barnum, John Fichthorn, I've, Shadwrick Vick, Rudy, Vick, Roderick Vanderbilt, who's, hocking, La Toya Jackson, Helios, Matheson, Brian Quinn, Farnsworth's, Michael Hartstein, Vinco, Matt Argall, Mitch Lowe, Reuters Farnsworth, David, Goliath, TikTok, We're, Argall, Elton John, Jamie McCarthy, Lomotif, Lil Nas X, Snoop Dogg, Grimes, Zash, Allan Stern, Get2it, Stern, Robert N, Scola Jr, Scola, he's, —, Lowe, Getty, Dave Kotinsky, Stringer Vinco, expeditiously, Farnsworth —, Vanderbilt, Jesse Law, Katherine Long Organizations: Fox Business, Hollywood, Business, Zash Global Media, Entertainment, Vinco Ventures, Fox, Hudson Bay, BI, Helios, Matheson, Matheson Analytics, Boston College Law School, Palladium Capital Group, Vinco, BHP Capital, Armistice, CVI Investments, National Enquirer, Reuters, AMC Theatres, AMC, Gemini Valuation, Hudson, Eightco Holdings, Elton John AIDS Foundation, 91st, EDC, Tampa Marriott, SEC, Publishing, National Examiner, Globe, The New York Times, Southern, Southern District of, Bloomberg, Bay, Vanderbilt, Federal Bureau of Investigation Locations: Hudson, Vinco, Zash, Hudson Bay, China, Syracuse , New York, Lomotif, Syracuse, West Hollywood , California, Vegas, Tampa, Argall, Boston, India, The, Miami, MoviePass, Southern District, Southern District of Florida, New York

☆ 'We are still in a market bubble': A famed economist who called the 2008 recession warns the S&P 500 is as vulnerable as it was before its 25% fall in 2022 — and shares 3 signs of hidden weakness
▼ + stars: | 2024-03-16 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Just because the current valuation backdrop isn't as extreme as 1999-2000, we are still in a market bubble, and valuations are even more stretched today than they were at the market peaks in 2007, 1990, and 1980." Rosenberg ResearchSecond, the S&P 500 is outperforming the HYG/TLT Ratio. AdvertisementRosenberg ResearchAnd third, even tech stocks, which have been overwhelmingly supporting the S&P 500, appear to be running out of gas, Rosenberg said. The same goes for Paul Dietrich, the chief strategist at B. Riley Wealth, who says the S&P 500 could fall 49% when the current bubble pops. The bull market has thrown egg onto their faces again and again: since the October 2022 lows, the S&P 500 is up a whopping 42%.

Persons: —, David Rosenberg isn't, Merrill Lynch, Rosenberg, he's, manias, HYG, Michael Hartnett, Jeremy Grantham, Paul Dietrich, Riley Wealth, Dietrich, Grantham, Carol Schleif Organizations: Service, Rosenberg Research, Business, Equity Model, Dow Jones, Dow Transports Index, Bank of America's, Bank, America, BMO Family Office

☆ David Rosenberg, Jeremy Grantham, and 4 other market gurus just rang the alarm on a stock market bubble
▼ + stars: | 2024-03-16 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Here are six recent bubble warnings from experts this week:Advertisement1. "We are nonetheless in a market bubble." Paul Dietrich"The Stock Market Bubble Is About to Burst — Look Out!" AdvertisementGrantham also suggested the AI craze would end and bring the stock market down with it. Michael GayedGayed flagged the recent surge in gold, utility stocks, and long-term Treasury bonds as evidence of mounting market jitters in an InvestorPlace op-ed this week.

Persons: —, David Rosenberg, Merrill Lynch, Rosenberg, Paul Dietrich, Riley Wealth, Jeremy Grantham Stocks, Grantham, Michael Hartnett, Hartnett, Larry Summers, Summers, Michael Gayed Gayed Organizations: Service, Nvidia, Business, Rosenberg Research, North, Bloomberg, Bank of America, Tidal Locations: North American

☆ U.S. could be facing stagflation as jobs market cracks, inflation remains sticky, warns BofA's Hartnett
▼ + stars: | 2024-03-15 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Stubbornly high inflation and a wobbly jobs market are combining to pose an ominous threat to the U.S. economy, Bank of America chief market strategist Michael Hartnett warned. The result is a narrative of "macro shifting from Q4/Q1 'Goldilocks' to Q1/Q2 'Stagflation,'" Hartnett said in his weekly "Flow Show" note to clients dated Thursday. As Hartnett indicated, the U.S. closed 2023 with the labor market looking strong and GDP posting a solid 3.2% gain. On the jobs market, while nonfarm payrolls have risen strongly , household employment actually is down by about 900,000 since November and full-time jobs have declined by nearly 1.8 million. The Fed is "implicitly ... tolerating higher inflation" as way to inflate the debt away, a condition that means "weaker policy credibility = weaker currency … why crypto & gold [are] at all-time highs."

Persons: Michael Hartnett, Hartnett, Stagflation, nonfarm, specter, That's Organizations: Bank of America, Federal Reserve, New, Fed, U.S ., Atlanta Fed, Nasdaq Locations: U.S

☆ Bank of America's top global strategist shares 4 signs that a bubble continues to grow in US stocks — and 4 indicators to know when to get out of the market
▼ + stars: | 2024-03-09 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Bank of AmericaIn the note, Hartnett laid out more evidence that a bubble could be developing in stocks. The current real 10-year rate is 1.6%, according to Fed data. Hartnett said a falling number of job quitters shows a weakening labor market, hence the Fed's apparent willingness to cut rates soon. February's inflation data will be released next week, but January's data showed that prices are still rising at a pesky pace of 3.1%, above the Fed's stated goal of 2%. Whether a Fed pivot is a good thing for investors depends on just how cool labor market data becomes.

Persons: —, Michael Hartnett, Hartnett, quitters, Alejandra Grindal, Ned Davis, it's, Grindal Organizations: Service, Bank of America, Business, PHLX Semiconductor, Nasdaq, Semiconductor, Apple, Microsoft, Nvidia, Tesla, Meta, Bank of America's, Bureau of Labor Statistics, Ned, Ned Davis Research

☆ A California man charged with smuggling greenhouse gases hints at the revival of a decades-long black market
▼ + stars: | 2024-03-09 | by ( Morgan Mcfall-Johnsen | Jenny Mcgrath | ) www.businessinsider.com time to read: +8 min

But there's also a blooming black market in greenhouse gases. HFCs are commonly used in refrigerators and air conditioners, but they're also potent greenhouse gases. There's been a thriving black market for climate-altering refrigerant chemicals since the 1990s, at times as lucrative as selling cocaine. KAMIL KRZACZYNSKI/AFP via Getty ImagesThe black market "comes with the territory" of regulation, Doniger said. At the height of the CFC black market, many cars still used those refrigerants for their air conditioners.

Persons: there's, hydrofluorocarbons, they're, Adrees Latif, Michael Hart, Tara McGrath, There's, Hart, Carlo Allegri, David Doniger, HFCs, Avipsa, Victor Molina, KAMIL KRZACZYNSKI, Mahapatra, Doniger Organizations: Service, Department of, Business, Facebook, Department of Justice, Reuters, Natural Resources Defense Council, NASA, Environmental Investigation Agency, Getty, EPA, Department of Homeland Security, Department of Defense, DOJ, US Attorney's, Southern, of, New York Times, CFC Locations: San Diego, Mexico, Port of Miami, Montreal, Elk Grove Village , Illinois, AFP, United States, of California, HFCs, Europe

☆ He’s Accused of Smuggling, but Not Drugs or Guns: It’s Greenhouse Gases
▼ + stars: | 2024-03-05 | by ( Hiroko Tabuchi | ) www.nytimes.com time to read: +1 min

On Monday, a California man became the first in the nation to be arrested and charged with smuggling the powerful gases into the United States, a felony offense, according to the United States Attorney’s Office for the Southern District of California. Mr. Hart then posted the refrigerants for sale on OfferUp, Facebook Marketplace and other sites, and sold them for a profit, federal agents say. Mr. Hart pleaded not guilty. He faces charges of conspiracy, importation contrary to law and sale of merchandise imported contrary to law. Attempts to reach lawyers for Mr. Hart were unsuccessful.

Persons: Michael Hart, Hart Organizations: Craigslist, United States Attorney’s Office, Southern, Southern District of, Facebook Locations: California, United States, United, Southern District, Southern District of California, San Diego, coolants, Mexico

☆ Man charged with smuggling greenhouse gases from Mexico into US in first-of-a-kind prosecution
▼ + stars: | 2024-03-05 | by ( Laura Paddison | ) edition.cnn.com time to read: +3 min

CNN —A California man was arrested and charged Monday with allegedly smuggling potent, planet-heating greenhouse gases from Mexico, marking the first such prosecution in the US, according to a statement from the US Attorney’s Office for the Southern District of California. He is then alleged to have sold them for a profit on sites including Facebook Marketplace and OfferUp. These greenhouse gases are short-lived in the atmosphere, but powerful — some are thousands of times more potent than carbon dioxide in the near-term. “The illegal smuggling of hydrofluorocarbons, a highly potent greenhouse gas, undermines international efforts to combat climate change,” said David M. Uhlmann, the assistant administrator for the EPA’s Office of Enforcement and Compliance Assurance. In 2016, nearly 200 nations including the US agreed to the Kigali Amendment to reduce planet-heating pollution from these greenhouse gases.

Persons: Michael Hart, Hart, Todd Kim, HFCs, ”, David M, Tara McGrath, ” Hart Organizations: CNN, US, Office, Southern, Southern District of, Facebook, Justice Department’s, Natural Resources, Environmental Protection Agency, EPA’s, UN Environment, AC, Department of Justice Locations: California, Mexico, Southern District, Southern District of California, San Diego, United States, Kigali

☆ The U.S. national debt is rising by $1 trillion about every 100 days
▼ + stars: | 2024-03-01 | by ( Michelle Fox | ) www.cnbc.com time to read: 1 min

The debt load of the U.S. is growing at a quicker clip in recent months, increasing about $1 trillion nearly every 100 days. The nation's debt permanently crossed over to $34 trillion on Jan. 4, after briefly crossing the mark on Dec. 29, according to data from the U.S. Department of the Treasury. It reached $33 trillion on Sept. 15, 2023, and $32 trillion on June 15, 2023, hitting this accelerated pace. Before that, the $1 trillion move higher from $31 trillion took about eight months. Bank of America investment strategist Michael Hartnett believes the 100-day pattern will remain intact with the move from $34 trillion to $35 trillion.

Persons: Michael Hartnett Organizations: U.S . Department of, Treasury, . Bank of America Locations: U.S

☆ China calls on foreign businesses to share their problems as investment slumps
▼ + stars: | 2024-03-01 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

While the Commerce Ministry meeting did not reveal much new progress on the 24 measures to support foreign business that were announced last summer, attendees said they were able to share specific challenges about doing business in China. The ministry said representatives from more than 60 foreign businesses and 9 associations attended Wednesday's roundtable. Foreign direct investment into China has fallen to its lowest level in three years, according to official data, amid geopolitical tensions and slowing growth in the country. Hart said that it's hard for companies not yet in China to complete due diligence and approve new investments. Biden, who faces re-election this fall, has emphasized the need to compete with China while finding areas of cooperation.

Persons: Aly Song, MofCom, Jens Eskelund, Eskelund, Michael Hart, Hart, Joe Biden, Xi Jinping, Biden Organizations: Chinese Communist Party, Reuters, Reuters BEIJING — China's Ministry of Commerce, Commerce Ministry, EU Chamber of Commerce, Cyberspace Administration of, China's Ministry of Commerce, American Chamber of Commerce, U.S, U.S . Transportation Department Locations: China, U.S, Yiwu, Zhejiang province, Reuters BEIJING, Beijing, Cyberspace Administration of China, San Francisco

☆ Animal spirits are back in the market, fueling 2021-like speculative activity
▼ + stars: | 2024-03-01 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

The Federal Reserve's rate-cut signal in December triggered a furious rally to record highs, unleashing animal spirits that are fueling similar speculative activities from the depths of the pandemic. "The animal spirits are reviving," Michael Hartnett, chief investment strategist at BofA Global Research, said in a phone interview. "Animal spirits, they don't necessarily start with the biggest animals in the jungle," Quincy Krosby, chief global strategist at LPL Financial, said by phone. To be sure, others believe the market rally has been justified by the enthusiasm for artificial intelligence, and the contribution it's likely to make to future corporate profits. Billionaire investor Ray Dalio said the U.S. stock market is not in a speculative bubble based on his criteria.

Persons: Bitcoin, Michael Hartnett, Hartnett, Cryptocurrency, Scott Rubner, Goldman Sachs, Quincy Krosby, Ray Dalio Organizations: BofA Global Research, Nasdaq, GameStop, Palo Alto Networks, Research, LPL Locations: Nigeria, Argentina, Snowflake, YOLO, . U.S, U.S

☆ Fed Chair Powell and jobs data take center stage next week as Wall Street weighs interest rate outlook
▼ + stars: | 2024-03-01 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

Next week, the first full trading week of March, macroeconomic concerns will take center stage for investors. Next week, the Fed chief is largely anticipated to stick to the same talking points in testifying before Congress. In fact, the February jobs report, due out next Friday, is expected to show a moderation in payroll gains. Hourly Earnings preliminary (February) 8:30 a.m. Average Workweek preliminary (February) 8:30 a.m. Manufacturing Payrolls (February) 8:30 a.m. Nonfarm Payrolls (February) 8:30 a.m. Private Nonfarm Payrolls (February) 8:30 a.m. Unemployment Rate (February) — CNBC's Michael Bloom, Jeff Cox and Yun Li contributed to this report.

Persons: Jerome Powell, Powell, Shannon Saccocia, Kim Forrest, Webull, Michael Hartnett, CNBC's Yun Li, Melissa Brown, Brown, Wealth's Saccocia, Saccocia, Nonfarm Payrolls, —, Michael Bloom, Jeff Cox, Yun Li Organizations: Federal, Fed, Capitol, Nasdaq, Dow Jones, FactSet, Barclays, Bokeh Capital Partners, Labor Department, Bitcoin, BofA Global Research, Apple, Nvidia, Ross Stores, Costco Wholesale, Kroger, . Semiconductor, Broadcom, PMI, PMI Services, Services PMI, Ross, Target, ADP, Labor, Consumer Credit Locations: U.S, REITs, Japan

☆ The era of the Magnificent 7 is over, says the analyst who invented the term
▼ + stars: | 2024-02-24 | by ( Aruni Soni | ) www.businessinsider.com time to read: +5 min

It was a good run, but the era of the Magnificent Seven is over for the stock market. "I don't see these seven names rising together," said the analyst who coined the nickname for the group. AdvertisementThe Magnificent Seven are looking a little less magnificent, and aren't really even a band of seven anymore. In a note titled "R.I.P the Magnificent Seven Era," Mike O'Rourke, chief market strategist from Jones Trading, said the group's dominance over the stock market is coming to a close. Back in April 2023, when O'Rourke invented the moniker (although some say it was BofA's Michael Hartnett who coined the term), the Magnificent Seven contributed to a stunning 88% of year-to-date gains.

Persons: —, aren't, Mike O'Rourke, O'Rourke, BofA's Michael Hartnett, Michael Hartnett, That's, it's, " O'Rourke, Tesla, Dan Niles, Satori, Niles Organizations: Service, Jones, Apple, Nvidia, Tesla, Microsoft, Meta, Companies, Satori Fund, Google, CNBC Locations: China

☆ A fund manager beating 98% of his peers over the last 10 years breaks down why the stock market resembles the 'Nifty 50' bubble of the 1970s, when the market's biggest names got crushed as inflation s
▼ + stars: | 2024-02-22 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Disco is backOthers have also started to compare today's market and the 1970s' "Nifty Fifty." AdvertisementJPMorgan's Chief Global Strategist Marko Kolanovic also said in a note on Wednesday that fiscal spending and inflation could resemble the 1970s landscape. Similar to the 1970s, there are currently 3 active geopolitical conflict zones – eastern Europe, Middle East, and South China Sea," Kolanovic said. Kolanovic included in his note the chart below, which shows the correlation between inflation and the performance of the S&P 500.

Persons: —, Albert Edwards, Bank of America's Michael Hartnett, Jeffrey Gundlach, Cole Smead, Smead, Sears Roebuck, Alphabet's, Nvidia's, Microsoft's, Jeremy Siegel, David Rosenberg, Merrill Lynch, " Rosenberg, Marko Kolanovic, Kolanovic Organizations: Service, Societe Generale, Bank of America's, Treasury, Nasdaq, DoubleLine, Investments, Business, Morningstar, Microsoft, Nvidia, Xerox Locations: Europe, Middle East, South China

☆ A renowned market bear who called the dot-com bubble warns concentration in tech stocks now exceeds levels seen just before the 2000 crash — and cautions that the sector's earnings are not keeping up
▼ + stars: | 2024-02-17 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

For example, the tech sector’s valuations are generally lower than they were then, though still elevated. One is that the fundamentals of the tech sector are detached from its price action. While the sector’s earnings have performed better than the rest of the market on average, earnings expectations have been rising faster than actual subsequent earnings performance. Many parallels between the dot-com bubble and today’s market have been called to light in recent weeks. Only time will tell if tech stocks are in a bubble that's due to burst.

Persons: Albert Edwards, “, ” Edwards, Edwards, Michael Hartnett, Jeffrey Schulze, Adam Karr, ”, Quincy Krosby, Hartnett Organizations: Societe Generale, Nasdaq, Business, Generale, Bank of America, Orbis Investment Management, Artificial Intelligence, LPL Financial Locations: Japan

☆ How the 'Magnificent Seven' compares to the great bubbles of all time and what could pop it
▼ + stars: | 2024-02-16 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

The so-called Magnificent Seven stocks are showing behavior consistent with major asset bubbles through history, according to Bank of America. Looking at variables including catalysts for the surge, the price of money (i.e., interest rates), share prices and valuation, Hartnett sees similarities between the Magnificent Seven and some of the other big bubbles going back centuries. As far as what could pop the bubble, he cited tightening financial conditions and rising real interest rates. From a valuation standpoint, the Magnificent Seven is currently 20% above its 200-day moving average. "It ain't cheap but true that bubble highs have seen dafter valuations," Hartnett wrote.

Persons: —, Michael Hartnett, Hartnett Organizations: Bank of America, Apple, Microsoft, Nvidia, Federal Reserve, Valley Bank Locations: Mississippi

☆ Long cash and short tech: The ultimate contrarian trades as investors turn the most bullish in 2 years
▼ + stars: | 2024-02-13 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Investor sentiment has turned so bullish that Bank of America's Michael Hartnett thinks it's time to consider a few contrarian trades. For the first time since April 2022, investors stopped predicting a recession in the U.S., the BofA survey showed. The Wall Street firm's widely followed investment strategist Hartnett is recommending a few contrarian trades for a "hard landing" scenario this year. He said investors could go long cash and defensive stocks, while shorting technology shares that have led the market rally over the past year. For a "no landing" scenario, where the economy would continue to grow but inflation stays high, the strategist recommends buying commodities, energy stocks as well as the greenback.

Persons: America's Michael Hartnett, Hartnett Organizations: America's, Survey, Microsoft, Apple, Nvidia, Tesla, Bank of America Locations: U.S

☆ Investors are the most bullish since early 2022 and 'all-in' on tech, says Bank of America survey
▼ + stars: | 2024-02-13 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Meanwhile, investors have cut their cash levels to 4.2% from 4.8%, the survey said. "Most bullish FMS in 2 years ... investors go all-in on U.S. tech," Hartnett wrote in a note to clients. For the first time since April 2022, investors became confident enough to predict that the U.S. economy would skirt a recession, the BofA survey showed. The proprietary indicator gauges when inflows or outflows related to stock-based funds point to investors moving too far to either side. Hartnett highlighted a few contrarian trades for a hard landing scenario, which includes going long cash and defensive stocks, and short technology companies.

Persons: Michael Hartnett, Hartnett Organizations: Bank of America, Manager Survey, FMS Locations: U.S

☆ Premarket stocks: Magnificent Six? Fab Five? Some say the Seven are getting a shakeup
▼ + stars: | 2024-02-08 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —Is Wall Street’s favorite clique of tech stocks in need of a makeover? Most of the Magnificent Seven stocks have reclaimed their leadership of the market this year, with shares of Nvidia, Meta Platforms, Alphabet and Microsoft reaching record highs. Many investors are skeptical that the Magnificent Seven will match their blockbuster gains from 2023, even if they continue their leadership this year. Jim Worden, chief investment officer at the Wealth Consulting Group, says he believes the group should consolidate to the “Fab Five,” which he classifies as the Magnificent Seven minus Tesla and Apple. “There is a big leadership change underway in the Magnificent Seven stocks,” wrote Louis Navellier, chairman of Navellier & Associates, in a note on Tuesday.

Persons: Jim Worden, ”, Worden, Michael Hartnett, Jim Cramer, Louis Navellier, “, Nancy Tengler, It’s, Walt, Gina Lee, Samantha Delouya, Disney, Ron DeSantis, Diksha Madhok, ” TSMC, Joe Biden, ” Read Organizations: CNN Business, Bell, New York CNN, Nvidia, Meta, Microsoft, Apple, Wealth Consulting, Bank of America, Facebook, Netflix, Google, Federal Reserve, Micro Computer, Navellier, Associates, EV, Disney, Walt Disney World, Disney Vacation, Taiwan Semiconductor Manufacturing Company, Semiconductor Manufacturing, TSMC, US Locations: New York, China, American, Orlando , Florida, —, Florida, Japan Chip, Japan, Arizona

☆ U.S. companies say it's harder to make money in China now than before the pandemic
▼ + stars: | 2024-02-01 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Aly Song | ReutersBEIJING — More U.S. companies are finding it harder to make money in China than before the pandemic, raising concerns that businesses may not stay long. "It is concerning when our member companies are not profitable," Michael Hart, AmCham China president, told reporters Thursday. It found that by far, the main reason for respondents to increase investment in China was to remain competitive there. Asked Thursday about those efforts, AmCham China Chair Sean Stein noted the measures incorporate suggestions from foreign business chambers in China, but AmCham would like Beijing "to make more tangible progress." Rising U.S.-China tensions were the top concern for members for a fourth-straight year, the AmCham survey found.

Persons: Aly Song, Michael Hart, Michael Hart AmCham, Hart, Wang Wentao, Sean Stein, Stein, AmCham Organizations: Bund, Reuters, Reuters BEIJING —, American Chamber of Commerce, of Commerce, German Chamber of Commerce, Commerce, U.S Locations: Shanghai, China, Reuters BEIJING, U.S, Beijing, Michael Hart AmCham China

☆ CNBC Daily Open: Hopes sink for March rate cuts
▼ + stars: | 2024-02-01 | 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. Overnight, U.S. stocks were sharply lower after Fed chair Jerome Powell said the central bank likely won't be ready to cut rates in March. China tough place for U.S. firmsMore U.S. companies are finding it tougher to be profitable in China compared to before the pandemic. [PRO] Jefferies top picksAlibaba, ASML are some of Jefferies' "highest-conviction" stock picks to buy.

Persons: Jerome Powell, Hang Seng, Paytm, Michael Hart, Meta's, Victor Lee, Jefferies Organizations: Federal Reserve, New York Stock Exchange, CNBC, Treasury, U.S, American Chamber of Commerce, Qualcomm, Jefferies Locations: New York City, U.S, Asia, Hong Kong, South Korea, India, Mumbai, China

☆ The S&P 500 Through the Prism of a ‘Magnificent 7’
▼ + stars: | 2024-01-27 | by ( Joe Rennison | ) www.nytimes.com time to read: 1 min

The group’s name, an allusion to a 1960s western starring Steve McQueen, was coined by the Bank of America analyst Michael Hartnett early last year. It consists of Google’s parent, Alphabet; Amazon; Apple; Facebook’s parent, Meta; Microsoft; Nvidia; and Tesla. These stocks rose an average of 105 percent in 2023, led by Nvidia. Microsoft itself rose 57 percent. The S&P 500 index also had a good run in 2023, much better than was expected at the start of the year, when inflation and higher interest rates clouded the outlook.

Persons: Steve McQueen, Michael Hartnett Organizations: Bank of America, Meta, Microsoft, Nvidia

☆ 'You are now living through Tech Bubble 2.0': A 32-year market vet warns stocks are doomed to suffer substantial losses with valuations at historic highs and the economy on the verge of recession
▼ + stars: | 2024-01-27 | by ( William Edwards | ) www.businessinsider.com time to read: +7 min

"For those of you younger than us who did not live through the Tech Bubble of the late 1990s, you are now living through Tech Bubble 2.0. As a reminder, the NASDAQ fell about 80% when that bubble burst in the mild recession of the early 2000s," Wolfenbarger said. AdvertisementThere is evidence that backs up Wolfenbarger's bubble claims, starting with fairly standard valuation measures like the Shiller cyclically-adjusted price-to-earnings ratio. While it's not as high as it was during the dot-com bubble, it's higher than it was in 1929 — and is at one of its most elevated levels in history. Bank of AmericaAs for what will finally deflate the bubble, Wolfenbarger is expecting a recession to hit the US economy.

Persons: —, Microsoft —, Jon Wolfenbarger, Merrill Lynch, Wolfenbarger, it's, America's Michael Hartnett, Louis Fed Wolfenbarger, Jeremy Grantham, Adam Karr, Orbis Investment Management Karr, It's Organizations: Service, Apple, Nvidia, Microsoft, Business, JPMorgan, ClearBridge, Tech, NASDAQ, ClearBridge Investments Bank, America's, Bank of America, Bank of America's Global, Institute for Supply Management's Manufacturing, Orbis Investment Management, Global Fund, Federal Reserve Locations: Japan

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