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☆ Bank of America says do not sell in May and go away
▼ + stars: | 2024-05-08 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Investors should ignore the adage about selling off equities in May as a big preelection summer rally could be coming, according to Bank of America. "Do not sell in May and go away," Stephen Suttmeier, the firm's technical research strategist, told clients in a Tuesday note. He pointed to the fact that June through August has been the second strongest three-month stretch for the S & P 500 for all years since 1928. In those three months alone, the broad market index has gained 65% of the time with an average return of 3.2%, according to Bank of America data. .SPX YTD mountain S & P 500, YTD And there's a key factor Suttmeier sees changing the narrative for the better this year: the presidential election.

Persons: Stephen Suttmeier, It's, Jerome Powell, Suttmeier, Williams Organizations: Bank of America, Dow Jones, Federal

☆ Stock market today: Rally wavers but Dow edges higher for 6th straight session
▼ + stars: | 2024-05-08 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks wobbled on Wednesday but the Dow managed to notch its sixth winning session in a row. Tech stocks slid. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS stocks were mixed Wednesday, with a sell-off in tech names causing a broader stock rally to waver after a streak of gains. Tech stocks slid, with downbeat Uber earnings sparking a 5.7% decline in the stock, while Intel fell after lowering revenue guidance for the quarter.

Persons: Dow, Uber, —, Wells Fargo Organizations: Tech, Service, Dow Jones Industrial, Intel, Investors

☆ David Zervos: Blame traders living in rate cut la-la land — not the Fed — for recent market turbulence
▼ + stars: | 2024-05-08 | by ( David Zervos | Jefferies Chief Market Strategist | ) www.cnbc.com time to read: +3 min

This year the rate markets have come back to a more sensible reality after flirting with the la-la land of 7 cuts. And all the while, the more sensible equity markets have paid only fleeting attention to their rate brother's whining. As a guy who was brought up in the fixed income and currency markets, I'm increasingly finding more sensibility in the equity markets as I head into later stages of my career. Having five-year inflation expectations (as measured by the 5-year breakeven inflation rate) never ramp higher while cumulative inflation surged around 20% since January 2021 is a testament to his stalwart success. There have been no fumbles at the Fed so far during a protracted fight to ensure anchored inflation expectations and long term price stability.

Persons: Consensonomics, Jerome Powell's, Jay, Janet Yellen's, Janet, Stanley Druckenmiller, I'm, David Zervos Organizations: Equity

☆ Relief rally is 'questionable at best' and stocks to finish year lower from here, says Piper Sandler
▼ + stars: | 2024-05-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

"This relief rally in equities is questionable at best," wrote chief market technician Craig Johnson. .SPX YTD mountain S & P 500 this year Year to date, the S & P 500 is up more than 8%, with the low end of the firm's range suggesting the benchmark could fall 10% from Friday's close. When an asset breaks above its 50-day moving average, it is seen as a sign of strong momentum. The S & P 500 on Monday rose, breaking above its 50-day moving average. The Nasdaq is also trading above its 50-day average.

Persons: Piper Sandler, Craig Johnson, Stocks Organizations: Dow, Nasdaq Locations: Friday's, U.S

☆ Diversify your Big Tech holdings into these other stocks with similar traits, recommends Barclays
▼ + stars: | 2024-05-01 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

In an effort to navigate a market that remains highly concentrated under Big Tech's dominance, but also ripe for stock pickers, Barclays has dozens of stocks that share similar characteristics to the tech heavyweights. However, some select Big Tech remained fairly strong throughout the sell-off, with stocks like Alphabet and Apple bucking the downtrend. While Big Tech valuations still appear reasonable to Barclays analyst Venu Krishna, he pointed out that they're "not the only game in town," and suggested investors diversify their portfolios to beat their benchmarks. Yet, market returns, earnings upside, and institutional investor exposure remain highly concentrated in Big Tech," Krishna said in a Tuesday note. Aside from allowing investors to diversify, these stocks come with strong fundamentals based on profitability, balance sheet strength, cash conversion, and growth-adjusted valuation characteristics that closely resemble those of Big Tech stocks, the firm said.

Persons: Venu Krishna, Krishna, Dennis Geiger, Geiger, outperformance, Adrienne Yih, Yih, Goldman, TJX Organizations: Barclays, Big Tech, Inter, UBS, Software, Oracle, Arista Networks, JPMorgan, Arista, TJX Companies, Goods Locations: Big Tech, SPX, Ulta

☆ S&P 500 forming a troubling 'bear flag' pattern, Wolfe Research says
▼ + stars: | 2024-05-01 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Technical analyst Rob Ginsberg said in a note to clients late Tuesday that the recent bounces for the S & P 500 and the Nasdaq-100 look suspiciously like "bear flags," an ominous chart pattern. "Equities ended the month on a sour note, as last week's dead cat bounces stalled out beneath resistance. A "bear flag" is a technical pattern that sometimes develops during short-term bounces in a broader market decline. Last week, the S & P 500 rose 2.7%, its best weekly performance since November. Ginsberg said in the note that he sees potential downside to the 4,800 level on the S & P 500, which would equal a further decline of about 4.5%.

Persons: Rob Ginsberg, doesn't, Ginsberg Organizations: Wolfe Research, Nasdaq

☆ A tip from the charting pros for navigating this difficult market
▼ + stars: | 2024-05-01 | by ( Frank Cappelleri | ) www.cnbc.com time to read: +3 min

Currently, the S & P 500 just endured four 1% declines in a month for the first time since last October (5). The index's 20-day moving average has undercut the 50-day moving average for the first time since November, and there's a noticeable potential three-month topping pattern in play, as well. The 20-day moving average just crossed above the 50-day moving average, and both lines have started to curl higher. To drive this point home further, the upside-down version of the current S & P 500 looks a lot like… the S & P 500 (right-side-up) from last fall, as the index was coming back from the August-October correction. Here's a picture of the biggest bullish pattern from 2023, which was triggered soon after the 20-day moving average crossed over the 50-day moving average.

Persons: permabears, permabulls, it's, Frank Cappelleri

☆ Stocks could have further to fall in May after this month’s market woes
▼ + stars: | 2024-04-30 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

The S & P 500 is down by more than 3% this month, though it has still registered a more than 6% advance for the year. But many investors worry stocks have further to go before finding a durable bottom. They say stocks look overvalued even after the recent pullback, and they cite troubling headwinds for equities. 'Sell in May and go away' May has a reputation as a historically weak month for stocks. Carson Group's Ryan Detrick noted that stocks have actually been higher in May during the last nine out of 10 years.

Persons: Mark Luschini, Janney Montgomery Scott, Jeff Hirsch, he's, It's, Hirsch, Carson Group's Ryan Detrick, we've Organizations: Investors, Dow Jones Industrial, Dow, Treasury Bond ETF

☆ Eli Lilly assures investors it can overcome the high-quality problem of too much demand
▼ + stars: | 2024-04-30 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

Eli Lilly 's raised guidance stole the show Tuesday, offsetting mixed first-quarter results and propelling shares higher by nearly 6%. Eli Lilly Why we own it: Eli Lilly's best-in-class drugs should enable growth above the industry average for many years to come. At their highs of the morning, shares of Eli Lilly traded above their all-time closing high of $792.28 set on March 4. In general, the more-bullish financial outlook helps make Eli Lilly's high price-to-earnings ratio coming into earnings more tolerable for investors. An injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City, U.S., December 11, 2023.

Persons: Eli Lilly, Eli Lilly's, Lilly, Jim Cramer, Lilly's, Jim, Anat Ashkenazi, Zepbound, It's, Ashkenazi, Dave Ricks, donanemab, Jim Cramer's, Eli Lilly’s, Brendan McDermid Organizations: Revenue, LSEG, Novo Nordisk, Biogen, Merck, Pfizer, U.S, Drug Administration, Nexus Pharmaceuticals, CNBC, FDA Locations: Eisai, Zepbound, Trulicity, Wisconsin, New York City, U.S

☆ Bank of America says buy this dip ahead of a summer market rally
▼ + stars: | 2024-04-30 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Investors shouldn't get too scared by the recent market pullback, according to Bank of America. The firm believes the recent downside movement is a promising entry point before the market returns to green this summer. April marks the worst month for the S & P 500 since September 2023 as investors' expectations for rate cuts fell on hot economic data. As of Tuesday morning, the S & P 500 was last trading around 5,100. The S & P 500 has tested its 5,000 support level, Suttmeier added.

Persons: Stephen Suttmeier, Suttmeier, — CNBC's Michael Bloom Organizations: Bank of America Locations: upsides

☆ 12 portfolio companies report earnings in the week ahead. What we want to hear from each
▼ + stars: | 2024-04-27 | by ( Zev Fima | ) www.cnbc.com time to read: +15 min

The action quickly and sharply reversed back to the upside Friday after blowout earnings reports from Alphabet and Microsoft . In the week ahead, earnings are likely to drive the action again, though we'll get a few important macroeconomic reports. Earnings: We've got the biggest week of the earnings season ahead of us, with 12 Club holdings set to report. Eli Lilly 's report Tuesday morning continues to be all about sales of type-2 diabetes treatment Mounjaro and weight-loss drug Zepbound. In DuPont 's report Wednesday morning, we're looking for a continued rebound in its semiconductor business following a sequential increase last quarter.

Persons: Ford, we'll, Dow Jones, We've, Buckle, Eaton, Eli Lilly, Lilly, We're, Estee Lauder, Fabrizio Freda, we've, Linde, Bausch, Royal Philips, Woodward, SIRI, Archer, Johnson, Stanley Black, Decker, BAX, Cardinal Health, Parker, Belden, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Microsoft, Meta, Google Search, Big Tech, Nvidia, Broadcom, Ford Motor, Honeywell, Danaher, Labor Department, Labor, PMI, Services PMI, GE Healthcare, Amazon Web Services, Starbucks, Deutsche Bank, DuPont, Bausch Health, U.S ., Appeals, Apple, iPhones, Vision, ON Semiconductor, Resource Partners, Franklin Resources, Paramount, Transocean Ltd, Semiconductors, Arch Capital, Logitech International, Lattice Semiconductor, F5 Networks, Sanmina Corporation, GE HealthCare, PayPal, 3M Company, McDonalds, Enterprise Products Partners, Cola Company, Melco Resorts, Entertainment, SiriusXM Holdings, Oatly, American Electric Power Company, Leidos Holdings, Marathon Petroleum, Daniels, Midland Co, Equitrans Midstream Corporation, HSBC Holdings, HSBC, Devices, Caesars Entertainment, Lumen Technologies, Mondelez, Pfizer, CVS Health, Barrick, Mastercard Inc, Cruise Line Holdings Ltd, Kraft Heinz Company, Marriott International, Ares, Generac Holdings, Johnson Controls, Cenovus Energy Inc, Qualcomm, Devon Energy, Paycom, Axcelis Technologies, Coeur D'Alene Mines, Sunnova Energy International, MGM Resorts International, MGM, Solar Inc, Oil, Allstate, Co, Tenable Holdings, Enovix Corporation, Gladstone Capital, Avis Budget Group, eBay, EBAY, LIN, Novo Nordisk, Natural Resources, PENN Entertainment, Apache, ConocoPhillips, InMode Ltd, Baxter International, Cardinal, Regeneron Pharmaceuticals, Apollo Global Management, LLC, Cinemark Inc, Dominion Energy, Coterra Energy, Coinbase, Bill.com Holdings, Booking Holdings, United States Steel, AXT Inc, Materials, Energy, Hershey Company, XPO Logistics, Cboe, American Pipeline, Amneal Pharmaceuticals, Brookfield Business Partners, Brookfield Renewable Corporation, Magna International, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Bloomberg, Getty Locations: U.S, megaprojects, China, Eaton, Corning, Coeur D'Alene, Albemarle, ALB, Novo, New York

☆ The Fed will be the main event in the week ahead that includes a jobs report, more tech earnings
▼ + stars: | 2024-04-26 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

On top of that, the latest U.S. jobs market scorecard will be released along with more mega-cap earnings. This week, the U.S. 10-year Treasury yield briefly climbed above 4.7% for the first time since November. That's down sharply from the six or seven rate cuts investors were anticipating coming into the year. April jobs Investors will also get an update on the labor picture next week, with the release of the April nonfarm payrolls report set for Friday. Corporate earnings season will also ramp up in the week ahead with a slew of consumer-facing companies set to report.

Persons: Stocks, Powell, David Alcaly, Jerome Powell's, we've, they're, Brian Nick, Matt Stucky, it's, Stucky, Dow Jones, Nick, Archer, Eli Lilly, Kraft, Estee, Ingersoll Rand, Stanley Black, Decker, Hershey Organizations: Nasdaq, Google, Microsoft, Treasury, Lazard Asset Management, Macro, Northwestern Mutual Wealth Management Company, Fed, Apple, Micro Computer, Dallas Fed, Paramount, ON Semiconductor, Chicago PMI, Prudential Financial, Devices, Storage, Diamondback Energy, Caesars Entertainment, Corning, Daniels, Midland, Molson Coors Beverage, Marathon Petroleum, GE Healthcare Technologies, PayPal, ADP, P Global, Manufacturing, Oil, MGM Resorts International, Allstate, Etsy, eBay, Qualcomm, MetLife, First, Devon Energy, Cruise Line Holdings, Brands, Marriott International, Kraft Heinz, Pfizer, Companies, CVS Health, Generac, Mastercard, Labor, Nation Entertainment, Booking Holdings, Natural Resources, Motorola Solutions, Expedia, EOG, Coterra Energy, Dominion Energy, Howmet Aerospace, ConocoPhillips, Moderna, PMI, Services PMI Locations: U.S, Chicago, McDonald's, Albemarle, EOG Resources

☆ The stock market 'correction' is not over yet, JPMorgan’s Kolanovic says
▼ + stars: | 2024-04-23 | by ( Fred Imbert | ) www.cnbc.com time to read: +1 min

Don't be fooled by Monday's bounce, JPMorgan's Marko Kolanovic warned. The S & P 500 entered the week down more than 5% from an all-time high reached earlier in the year. A correction is generally defined as a 10% drop from a 52-week high. "Market concentration has been very high, and positioning extended, which are typically red flags, at risk of a reversal." "The combination of these macro factors increases the downside risks, and suggests that more Defensive trading should be appropriate," he added.

Persons: JPMorgan's Marko Kolanovic, Kolanovic, —

☆ The stock market is primed for a short-term bounce, but correction still not over
▼ + stars: | 2024-04-22 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

The stock market is poised for a short-term bounce, but technical analysts who watch price charts warn that the correction is not yet over. The technician said he anticipates support for stocks — the point at which buyers will reemerge — between 4,700-4,800 in the S & P 500. .SPX YTD mountain S & P 500 To be sure, some observers anticipate a more durable stock market rally, rather than a mere bounce. He anticipates that the S & P 500 could find support down at 4,800 and may not find a true bottom for several weeks. But he anticipates that the selloff will take longer to play out, with a pullback bringing the S & P 500 back to 4,700.

Persons: JC O'Hara, Roth MKM, O'Hara, Tom Lee, Lee, CNBC's, Oppenheimer's Ari Wald, Wald, we've, BTIG's Jonathan Krinsky, Krinsky, Wolfe's Rob Ginsberg Organizations: Stocks, Federal Reserve

☆ Meta Platforms gets billions from China without headaches many U.S. companies face there
▼ + stars: | 2024-04-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +9 min

As many American companies struggle to navigate the world's second-largest economy, Meta Platforms has found itself raking in billions of dollars from China without the direct challenges of doing business there. The influx in spending from Chinese ecommerce advertisers has been a "significant positive" for Meta, said Rohit Kulkarni, analyst at Roth MKM covering internet companies. Many American companies doing business in China have battled similar challenges as the post-Covid recovery there has progressed slower than expected. Meta has said it has a "diverse advertiser base" of Chinese companies. The concern is that as more Chinese advertisers target American consumers through Meta's platforms, that could drive up the price of ads for everyone.

Persons: Temu, Rohit Kulkarni, Roth, Meta's, Piper Sandler, Tom Champion, Estee Lauder, Meta, Susan Li, Shein, Kate Scott, Dawkins, —, Roth's Kulkarni, Piper Sandler's, they're, Josh Silverman, we're, Piper, doesn't, Jim Cramer's, Jim Cramer, Jim, Facebook Mark Zuckerberg, Kenzo Tribouillard Organizations: Club, Super, U.S, Meta, Apple, Facebook, Tencent, Holdings, Nasdaq, CNBC, Wall Street, Google, European Commission, AFP, Getty Locations: China, Ireland, Shanghai, Singapore, U.S, Meta, Brussels

☆ Citi upgrades energy sector, says geopolitical tensions could keep oil prices higher for longer
▼ + stars: | 2024-04-22 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

The energy sector should continue to outperform as oil prices are likely to remain higher for longer on geopolitical risk even without a major escalation in the Middle East, according to Citi. The energy sector has gained 13% this year, outperforming the broader S & P 500 . .GSPE .SPX YTD mountain S & P 500 energy sector outperforms Refinery stock Marathon Petroleum is leading the sector's performance with a gain of 33% year to date. "Our commodity team see higher for longer oil given the geopolitical risk even as a severe escalation seems unlikely." "However, in the short-term, the global reflation theme and tensions in the Middle East are keeping prices supported," the Citi team told clients.

Persons: Dirk Willer Organizations: Citi, Energy, Marathon Petroleum, Exxon Mobil, Chevron, Brent Locations: Refinery, Israel, Iran, Rafah, Russia, Saudi Arabia

☆ Breaking down the market sell-off and odds this 5% pullback turns into a 10% correction
▼ + stars: | 2024-04-20 | by ( Michael Santoli | ) www.cnbc.com time to read: +9 min

Hard-to-handicap geopolitical conflict never helps, even if it rarely serves as the key swing factor in a market trend. .SPX 1Y mountain S & P 500, 1-year And then there was simply the elevated valuation and over-optimistic sentiment that had built up over that five-month, 28% rally that culminated at the end of March. Over the long span of time, about 40% of all 5% market pullbacks deepened into full 10% corrections. A 10%-ish correction from the S & P 500 high of 5254 would pull the index down below 4800, the former record high from early 2022, and so would be a test of the first-quarter breakout. Last week's 3% decline took the index back to Feb 21 and thereby closed the "Nvidia gap," the 100-point S & P 500 pop the day after Nvidia's blowout fourth-quarter earnings report.

Persons: Warren Pies, Jerome Powell Organizations: Nasdaq, 3Fourteen, Nvidia, Big Tech, Treasury, Silicon Valley Bank Locations: Silicon

☆ A 27-year-old investor building a $2 million retirement portfolio in 8 years shares the index fund he's buying that pays a 14% annual yield in a tax-efficient way
▼ + stars: | 2024-04-20 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

His brokerage account mainly holds dividend and technology stocks and an S&P 500 index fund. AdvertisementHe also began buying the NEOS S&P 500 High Income ETF (SPYI), which launched in August 2022. It also beat out similar funds, such as the JP Morgan Equity Premium Income ETF and the Global X S&P 500 Covered Call ETF, throughout 2023. Portfolio VisualizerFor this reason, he decided to bet on an ETF similar to SPYI that went live in January 2024: the NEOS Nasdaq-100 High Income ETF (QQQI). It's also subject to the 60/40 tax rate, which means that only 40% of the fund's gains are subject to the higher short-term capital gains tax rate.

Persons: —, Austin Hankwitz, Roth, Ethereum, Hankwitz, it's, It's, Austin Organizations: Service, Business, Morgan, Nasdaq, SPYI, JPMorgan Nasdaq Equity

☆ A low-cost way to protect against further market declines and position for an eventual comeback
▼ + stars: | 2024-04-19 | by ( Jeff Kilburg | ) www.cnbc.com time to read: +3 min

I want to protect further downside in the broader U.S. equity market despite the fact that S & P 500 has had an acute drop of more than 5% off its recent 2024 highs. I do believe that we are still in a bull market, but the headwinds are strong in the current market conditions. .SPX YTD mountain S & P 500 YTD Lastly, markets are contending with corporate earnings season. Per my friends at Factset, the S & P 500's valuation on a forward 12-month P/E ratio is 20.6. DISCLOSURES: (Long this spread) THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY .

Persons: Raphael Bostic Organizations: Treasury, Federal Reserve, Federal Reserve Bank of Atlanta, Big Tech, Trust Locations: Israel, Iran, Factset

☆ A measure of the market's internal strength suggests more downside is ahead for stocks
▼ + stars: | 2024-04-18 | by ( David Keller | ) www.cnbc.com time to read: +4 min

One market breadth indicator suggests that we may still be in the early phases of a market decline. We had been focused on the 5050 level for the S & P 500 as a key "line in the sand" for equities. Looking back over the last two years, you'll notice the green-shaded areas in October 2022, March 2023, and October 2023 aligned well with major market bottoms. Earlier this month, the S & P 500 bullish percent index again broke below the 70% level, indicating a major market top had likely occurred. With the strength of the S & P 500 and Nasdaq 100 off the October 2023 market low, it can be tempting to treat all pullbacks as buying opportunities.

Persons: We've, David Keller Organizations: Nasdaq, CMT

☆ If this is a stock market correction, here's how history says it will unfold
▼ + stars: | 2024-04-16 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

The recent retreat in the stock market has made many worried about a deeper correction. Lingering inflation concerns, rising Treasury yields and a shifting outlook for Federal Reserve interest rate policy prompted a market pullback, with the S & P 500 almost 4% off its 52-week high as of Tuesday. A correction is defined as a 10% decline in one of the major U.S. stock indexes, typically the S & P 500 or Dow Jones Industrial Average, from a recent 52-week high close. .SPX 1Y mountain S & P 500 More to go? The heightened geopolitical risk led U.K. investment bank Liberum Capital to call for oil to surge to $100 and a stock market correction as big as 10%.

Persons: Sam Stovall, it's, Stovall, Jonathan Krinsky, Krinsky, Marko Kolanovic Organizations: Federal Reserve, CFRA Research, Dow Jones Locations: U.S

☆ Market fear signals are flashing red as stocks pull back from record highs
▼ + stars: | 2024-04-16 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Several major gauges of fear in the market are reflecting increased alarm from investors. @VX.1 1Y mountain The VIX over the past year At the same time, CNN's Fear and Greed Index has tipped into "fear" territory this week. Rising oil prices have also weighed on the stock market, as commodity traders bought in on expectations of escalating conflict in the Middle East. But he said the key threat to this outlook is if the conflict in the Middle East further spirals. "But, the caveat is, if things really go sideways in the Middle East, that could change the calculus."

Persons: Goldman Sachs, Alex McGrath, You've, Dow, Jason Heller, Heller Organizations: Federal Reserve, Nasdaq, Dow, Treasury, Coastal Wealth Locations: East, Iran, Israel

☆ Eli Lilly's top-selling drug last year is softening. But it may not matter for the stock
▼ + stars: | 2024-04-12 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +5 min

Sales of some Eli Lilly drugs — including its best-selling product last year — appear to be softening, according to Wall Street analysts. JPMorgan flagged similar trends for Trulicity, which led all Lilly drugs with $7.13 billion in sales for all of 2023. The thesis is predicated on Eli Lilly growing faster than the broader pharmaceutical industry for years to come. Over the past three years, shares of Eli Lilly have soared nearly 300%, compared with a 24% gain for the S & P 500 . A box of the drug trulicity, made by Eli Lilly Pharmaceutical, sits on a counter at a pharmacy in Provo, Utah, January 9, 2020.

Persons: Eli Lilly, Wells, Lilly, Mounjaro, Jim Cramer, tirzepatide, Zepbound, Eli Lilly's, Novo, Wegovy, drugmaker, Jim Cramer's, Jim, Eli Lilly Pharmaceutical, George Frey Organizations: Wall Street, JPMorgan, Club, Novo Nordisk, Novo, BMO Capital Markets, Drug Administration, FDA, The Club, CNBC Locations: Wells Fargo, Trulicity, Tirzepatide, Danish, Lilly, Provo , Utah

☆ S&P 500 futures are showing a bearish trend, here's what chart analysts are saying about it
▼ + stars: | 2024-04-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The e-mini futures contracts tied to the S & P 500 just posted their third negative "outside day" in the past eight sessions. Outside days happen when the range of a security's price sees higher highs and lower lows than it did the day before. The previous day's trading period should be smaller in range and should have closed higher. It also posted negative outside days on April 4 and April 1. Chart analysts are shrugging off the recent trio of outside down days, however, saying they don't threaten the longer-term up trend.

Persons: Tom Fitzpatrick, R.J, O'Brien, Ari Wald, Oppenheimer, Will Tamplin, Nick Wells

☆ Hedge funds are selling stocks at the fastest pace in three months and stepping up short bets
▼ + stars: | 2024-04-09 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Hedge funds are dumping stocks at the fastest pace in three months as what's often called " the smart money " stepped up bearish wagers against equities amid the recent pullback. The professionals sold global stocks on a net basis for a second straight week last week, driven almost entirely by short sales, according to Goldman Sachs' prime brokerage data. It marked the biggest selling week for hedge funds since mid-January, the data showed. Its hedge fund clients sold stocks for a fifth consecutive week last week, exiting shares across small-, mid- and large-cap companies. The S & P 500 declined nearly 1%, its biggest weekly loss since early January, although the equity benchmark is still only 1.7% below its record high.

Persons: Goldman Sachs, David Bahnsen, Goldman, Jean Boivin, — CNBC's Michael Bloom Organizations: Bank of, Dow, Bahnsen Group, P Retail, Traders, Fed, BlackRock Investment Institute Locations: U.S

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