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Three-Stock Lunch: Affirm Holdings, Gilead Sciences and 3M
  + stars: | 2024-01-22 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: Affirm Holdings, Gilead Sciences and 3MGeorge Ball, chairman at Sanders Morris Harris, joins 'Power Lunch' to discuss Ball's investment take on three stocks: Affirm Holdings, Gilead Sciences, and 3M.
Persons: George Ball, Sanders Morris Harris Organizations: Gilead Sciences
A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, September 6, 2022. U.S. stock futures were flat Monday night as the third-quarter earnings season gains momentum. S&P 500 futures ticked up 0.03%, while Nasdaq 100 futures traded near the flatline. The 10-year U.S. Treasury yield rose 7 basis points to 4.7% on Monday. In addition to Tuesday's earnings reports, Wall Street will also be keeping an eye out for fresh economic data.
Persons: Russell, Johnson, Goldman Sachs, Lockheed Martin, Richard Bernstein, CNBC's, Charles Schwab, George Ball, Sanders Morris Harris Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Treasury, Dow, Johnson, Bank of America, Lockheed, Richard Bernstein Advisors, Monday, JPMorgan Chase Locations: New York City, Israel, Iran
The pros share their expectations and tips for how investors can trade in the month ahead. The volatility isn't over The "potential bite" of aggressive Fed policy could lead to more volatility, said Richard Saperstein, chief investment officer at investment firm Treasury Partners, in a Tuesday note. Avoid tech — but not completely Avoid mega-cap tech stocks such as the "Magnificent Seven" now, the pros said, referring to Apple , Amazon , Alphabet , Meta , Microsoft , Nvidia and Tesla — tech stocks that have made massive gains this year. "Big tech stocks have run and valuations are richer than they have been. Dave Sekera, chief U.S. market strategist at Morningstar, said on Thursday that not all tech stocks are overvalued.
Persons: Richard Saperstein, Ben Kirby, CNBC's, Carol Schleif, George Ball, Sanders Morris Harris, Schleif, Ball, it's, Dave Sekera, Kirby, Thornburg, Morgan Stanley, Andrew Slimmon Organizations: U.S . Federal Reserve, Treasury Partners, Thornburg Investment Management, BMO Family Office, Apple, Microsoft, Nvidia, Tesla, Big Tech, Morningstar, Autodesk, Software, Teladoc, CNBC, CME, Hyatt Hotels, Hotels, Resorts, Hilton Hotels, Morgan, Morgan Stanley Investment, United Rentals Locations: U.S, China, Argentine
The major U.S. averages have been in negative territory this month , and valuations are coming down from their lofty heights. The S & P 500 has declined 4% this month, and the Nasdaq Composite about 6%. Still, there are some who are optimistic on the S & P 500, which is at around 4,404 as of Wednesday's close. George Ball, chairman of investment firm Sanders Morris Harris, predicts that S & P 500 will land at 5,000. ZoomInfo's losses were among the biggest, tumbling nearly 30%, with average price target upside of 49%.
Persons: Sameer Samana, George Ball, Sanders Morris Harris, Stocks, Baidu, SolarEdge Organizations: Nasdaq, U.S . Federal, Vanguard FTSE, Wells, Wells Fargo Investment Institute, CNBC Pro, PayPal, ON Semiconductor, Infineon Locations: U.S, Wells Fargo, Samana, Snowflake
Some on Wall Street are getting increasingly bullish on the S & P 500 , raising their price targets for the index. It increased its year-end S & P 500 price target from 4,400 to 4,900 — the highest in CNBC's Market Strategist survey . Mid-cap tech stocks : Ball said "mid tech is the equity place for tomorrow." Big tech stocks have contributed to much of the gains this year — although the rally is broadening out — but other well established "but not gigantic" tech stocks have "more premise looking ahead." Energy stocks: The S & P 500 energy subsector has underperformed this year, gaining just 1% to date.
Persons: Sanders Morris Harris, George Ball, CNBC's, Ball Organizations: Oppenheimer Asset Management, CNBC's, Citi, Trade, Energy, Enterprise Products Partners Locations: Tuesday's, bitcoin
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe US is in a 'Barbie-type' market at the moment: financial services firmGeorge Ball of Sanders Morris Harris explains his bullish call for the S&P 500.
Persons: George Ball, Sanders Morris Harris
The Big Tech stock rally has run its course, but the broader equity market will still approach record highs this year, according to the chairman of Sanders Morris Harris. Tech stocks have surged this year, rebounding after a tough 2022. "We expect the broader markets to move back near record highs at some point in 2023, but it won't likely be because of Big Tech," George Ball told Fortune on Tuesday. Tech stocks have rallied this year, with the tech-heavy Nasdaq Composite up nearly 14% year to date, recovering after a tough 2022. But in order to rise toward record highs, further major increases in the key stock indexes would be required, Ball suggested.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Stock World Cup: Berkshire Hathaway vs Reliance Industries — who wins? In CNBC's Stock World Cup challenge, George Ball of Sanders Morris Harris weighs in on which conglomerate – Berkshire Hathaway or Reliance Industries – will give investors a greater total return over the next 12 months.
Sept FOMC showed agreement on higher rates for longer
  + stars: | 2022-10-12 | by ( ) www.reuters.com   time to read: +6 min
Many officials said they had raised their assessments of the path of interest rate increases that would likely be needed to achieve the committee's goals. Ultimately, they do think that you need to reach some very high interest rates in order to really cool down the economy. While inflation has peaked, the path to a 2% inflation rate will be long, windy and bumpy." "The Federal Reserve's current tone suggests it is committed to raising interest rates until the snake of inflation is dead." CHRIS ZACCARELLI, CHIEF INVESTMENT OFFICER, INDEPENDENT ADVISOR ALLIANCE, CHARLOTTE, NC"For the most part there's nothing to earth shattering in the Fed minutes.
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