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☆ S&P 500 gives up its earlier gains — but Meta bucks the trend as new AI model debuts
▼ + stars: | 2024-04-18 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Meta gains : Shares of Meta Platforms rose 2% in the session. He navigated the downturn in U.S. department stores," Jim Cramer said Thursday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, pounced, That's, Jim Cramer's, Estee Lauder, Fabrizio Freda, Jim, Horton, D.R Horton, Stanley Black, Decker Organizations: CNBC, Treasury, Nasdaq, Dow Jones, Facebook, Club, Meta, Deutsche Bank, VanEck Semiconductor, Micron, Netflix, PPG Industries, Procter, Gamble, American Express, Jim Cramer's Charitable Locations: Estee, U.S, China

☆ Walgreens' biggest healthcare bet is floundering as it shutters 160 primary-care clinics
▼ + stars: | 2024-03-28 | by ( ) www.businessinsider.com time to read: +4 min

It's exiting 160 VillageMD primary-care clinics, up from the previously planned 60. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Walgreens' healthcare business reported an operating loss of $1.7 billion in 2023, and VillageMD makes up the bulk of that business. The move to close so many clinics has some analysts questioning whether Walgreens plans to ditch its healthcare bets altogether. A Walgreens spokesperson said VillageMD has exited or plans to exit Florida, Indiana, Chicago, Massachusetts, Rhode Island, and Nevada.

Persons: VillageMD, —, Tim Wentworth, Roz Brewer, Mary Langowski, John Driscoll, they've, Jack Slevin, Jefferies, Allen Lutz, Slevin, Cigna Organizations: Walgreens, Service, Express, Health, Summit Health, WBA, BofA Securities, Shields Health Solutions, Healthcare Locations: VillageMD, Chicago, Florida , Indiana, Chicago , Massachusetts, Rhode Island, Nevada

The Ronna McDaniel era at NBC News has come to an abrupt and chaotic end. Ms. McDaniel’s appointment, announced with fanfare on Friday, was immediately criticized by reporters at the network and viewers on social media. The backlash at NBC has already created other problems for Ms. McDaniel. Ms. McDaniel was negotiating on Tuesday with lawyers to engage with NBC on her behalf. Leaders in the NBC newsroom, convinced that election year audiences deserved to hear a perspective from conservatives like Ms. McDaniel, believed the hubbub would fizzle out.

Persons: McDaniel, McDaniel’s, NBC’s, Donald J, Trump Organizations: NBC News, Republican National Committee, NBC, MSNBC, Republican Party, Creative Artists Agency, Hollywood

☆ Stocks making the biggest moves midday: Tesla, GE HealthCare, Coinbase and more
▼ + stars: | 2024-03-13 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Crypto stocks — Stocks whose performance is tied to the price of bitcoin rose as the cryptocurrency pushed to another record for the third day in a row. Dollar Tree posted adjusted earnings of $2.55 per share on $8.64 billion of revenue for the fourth quarter. Analysts surveyed by LSEG, formerly known as Refinitiv, had penciled in $2.65 per share on $8.67 billion in revenue. GE HealthCare — Shares dropped 3% after the medtech company announced a secondary offering of 13 million shares. Analysts had expected earnings of 2 cents per share on revenue of $1.62 billion, per LSEG.

Persons: Coinbase, MicroStrategy, CleanSpark, Baird, Goldman Sachs, Wells, Raymond James, —, Alex Harring, Brian Evans, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Michelle Fox Organizations: Marathon, Iris Energy, Texas, Nvidia, Devices, Micron Technology —, Micron, AMD, LSEG, GE, —, GE HealthCare Technologies, General Electric, Royal, Petco, Wellness Locations: Kentucky, Royal Caribbean

☆ Top Amazon aggregator Thrasio files for bankruptcy
▼ + stars: | 2024-02-28 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Thrasio, an early leader in the big business of Amazon aggregators, had a booth at the popular Prosper Show for Amazon sellers in Las Vegas, Nevada, on July 14, 2021. Thrasio, an early leader in aggregating Amazon sellers, filed for Chapter 11 bankruptcy protection in a New Jersey court Wednesday. Thrasio and other Amazon aggregators raised billions of dollars from investors looking to cash in on the third-party seller rollup craze. Aggregators bought up promising products and storefronts on Amazon, to use their data and operational expertise to turbocharge sales. WATCH: What's behind the big hype and billion-dollar aggregator start-ups buying Amazon seller brands

Persons: Prosper, Thrasio, Greg Greeley, Aggregators, Josh Silberstein, Carlos Cashman Organizations: Amazon, fizzle, CNBC Locations: Las Vegas , Nevada, New Jersey, Greeley

☆ Yulia Navalnaya is raising hopes for a renewed Russian opposition. She will face huge challenges
▼ + stars: | 2024-02-20 | by ( Clare Sebastian | ) edition.cnn.com time to read: +7 min

On Monday, just three days after her husband’s death, Yulia Navalnaya rebranded herself as a political force, vowing to pick up where her husband left off. And yet for those left, Navalny’s death has created some momentum to keep trying. The man who put Nadezhdin forward, Civic Initiative party leader Andrey Nechaev, a former economy minister in the 1990s, denies there’s no functioning opposition left. On Saturday, the Lithuanian foreign minister Gabrielus Landsbergis posted a photo of himself with Khodorkovsky, Kasparov, and another exiled former Russian opposition politician Dmitry Gudkov. “We shouldn’t overestimate the spread of opposition ideas, opposition moods in Russian society,” says Bondarev.

Persons: Alexey Navalny, “ You’re, Navalny’s, Yulia, Yulia Navalnaya, ”, “, Putin, Alexey, ” Yulia Navalnaya, Boris Bondarev, ” Bondarev, Navalnaya, ” Navalny, Grigory Yavlinsky, Yavlinsky, Ilya Yashin, Navalny, Vladimir Kara, Murza, Mikhail Khodorkovsky, Garry Kasparov, Russia’s, Boris Nadezhdin, Andrey Nechaev, Nechaev, Boris Nemtsov’s, Evgeny Feldman, ” Khodorkovsky, Gabrielus Landsbergis, Khodorkovsky, Kasparov, Dmitry Gudkov, …, Putin’s Organizations: CNN, CNN Films, Navalnaya, Munich Security, Corruption, Putin, Civic Initiative Locations: Tomsk, Germany, Russian, Ukraine, Brussels, Russia, British, Moscow, Kirov , Russia, Lithuanian

☆ I turned my failed Etsy shop into a business that made $1 million in its first year. Here's how I did it by 21.
▼ + stars: | 2024-02-16 | by ( Ashley Couto | ) www.businessinsider.com time to read: +8 min

Keida Dervishi, 21, chose to start an embroidery business with her mom instead of going to college. AdvertisementThis as-told-to essay is based on a conversation with Keida Dervishi, the 21-year-old founder of Soulmate Customs. Soulmate Customs made over $1 million in sales in less than a year. I started with an Etsy embroidery shop before founding Soulmate Customs. Keida Dervishi with the Soulmate Customs team.

Persons: Keida Dervishi, —, Gjeniu I Vogel, we've, I'd, Olivia Rodrigo's, I've, Keida, Dervishi, TikTok, Kris Jenner, Kenny, Olivia Rodrigo, We're, It's, Instagram Organizations: Service, Customs, Business, YouTube, Soulmate Customs, School Locations: Albania, Europe, Gjeniu, Albanian

To keep Earth from overheating too much, the nations of the world need to put fewer loopholes in climate agreements and far more money — trillions of dollars a year — into financial help for poor nations, the United Nations climate chief said Friday. In an unusual and blunt lecture at a university in Baku, Azerbaijan, the host city of upcoming international climate negotiations later this year, United Nations Climate Change Executive Secretary Simon Stiell called gains made in the past not nearly enough. Richer nations have promised less than 5% of that amount in climate financial help to poor nations — and they often haven't even delivered that much. “It's already blazingly obvious that finance is the make-or-break factor in the world's climate fight,” Stiell said. “The time has passed for business-as-usual in all aspects of the world's climate fight,” Stiell said.

Persons: Simon Stiell, “, Stiell, Richer, “ It's, ” Stiell, Anne Rasmussen, Jean Su, Su, Joanna Depledge, ___ Read, Seth Borenstein Organizations: United Nations, United, Climate Finance, United Arab Emirates, ”, Biological Diversity, Cambridge University, Climate, Associated Press Locations: United, Baku, Azerbaijan, United Nations, China, Nations, Brazil, Grenada, United Arab, United States, England, Dubai, AP.org

☆ I'm a millennial who's obsessed with Stanley cups. They remind me of collecting 'Harry Potter' books, and I even bought some on my wedding day.
▼ + stars: | 2024-02-02 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

Read previewThis as-told-to article is based on a conversation with Kaitlin Gostel, a 29-year-old academic in Florida who collects Stanley cups. However, the feeling reminds me of getting Beanie Babies, Tamagotchis, or, most importantly, "Harry Potter" books. When waiting for both "Harry Potter" books and Stanley cups, we all get these nervous butterflies. So at 6 p.m., after saying my vow, I ran into the bathroom and purchased four different Stanley cups on my phone. However, they are built to last, and watching the video of a Stanley cup surviving a car fire, I'm like, "Geez, these things are insurance.

Persons: —, Kaitlin Gostel, Stanley, I'm, Harry Potter, Barnes, Noble, I've, he'll, you've, it's, Stanley Quenchers, Brian van der Organizations: Service, Starbucks, Business, Target, Stanley, eBay Locations: Florida, Korea, Starbucks Korea, Italy

☆ A low-cost hedge if Big Tech earnings disappoint and the Nasdaq rally fizzles
▼ + stars: | 2024-01-30 | by ( Nishant Pant | ) www.cnbc.com time to read: +3 min

If these tech giants disappoint in their earnings outlook, that would be enough reason for this rally to fizzle out, and Nasdaq could finally see a pullback. Here's a 6-month daily chart of the Invesco QQQ Trust (QQQ) ,which closely follows Nasdaq's price movement and can be used as a proxy to trade tech stocks. You may find trading platforms using other names like "put debit spread" or "long put spread," but they all mean the same. I did this because this trade is designed as a hedge against disappointing tech earnings, which are all happening this week, so I don't need a longer expiration date. QQQ 6M mountain QQQ, 6 months Since this trade is taken as a hedge, the expectation should be that if the markets don't tank after tech earnings, I will lose my initial investment.

Persons: Nishant Pant Organizations: Big Tech, Microsoft, Apple, Meta, Nasdaq

☆ Ryanair trims annual profit forecast after travel agents halt sales
▼ + stars: | 2024-01-29 | by ( ) www.cnbc.com time to read: +2 min

Ryanair on Monday trimmed its profit forecast for the year to the end of March after some online travel agents suddenly stopped selling its flights in December, forcing it to cut fares to fill seats as costs per passenger inched up. The airline, Europe's largest by passenger numbers, forecast an after-tax profit of between 1.85 billion and 1.95 billion euros ($2 billion to $2.1 billion) for its financial year to March 31. That is down from its November forecast of 1.85 billion and 2.05 billion euros, but would still beat its previous record of 1.45 billion euros in 2018. Net profit for the three months to the end of December, the third quarter of its financial year, was 15 million euros, significantly lower than the 49 million euros expected by analysts polled by the company. The fallout from the travel agents' move is beginning to "fizzle out," Sorahan said, with several agents approaching the airline to secure new, more transparent deals.

Persons: Neil Sorahan, Sorahan, Michael O'Leary, O'Leary Organizations: Ryanair Holdings, Stansted Airport, Manchester Airport Plc, Ryanair, Boeing Locations: Stansted

☆ House Republicans Release Impeachment Charges Against Mayorkas
▼ + stars: | 2024-01-28 | by ( Karoun Demirjian | ) www.nytimes.com time to read: +1 min

Leaders of the House Homeland Security Committee laid out their case against Mr. Mayorkas ahead of a Tuesday meeting to approve the charges, paving the way for a quick House vote as soon as early next month to impeach him. It would be the culmination of Republicans’ attacks on Mr. Biden’s immigration policies and an extraordinary move given an emerging consensus among legal scholars that Mr. Mayorkas’s actions do not constitute high crimes and misdemeanors. The push comes as House Republicans, egged on by former President Donald J. Trump, dig in against a bipartisan border compromise Mr. Mayorkas helped to negotiate with a group of senators, which Mr. Biden has vowed to sign. lawmakers have dismissed the agreement as too weak and argued that they cannot trust Mr. Biden to crack down on migration now when he has failed to in the past. The charges against Mr. Mayorkas, should they be approved by full the House, are all but certain to fizzle in the Democratic-led Senate, where Mr. Mayorkas would stand trial and a two-thirds majority would be needed to convict and remove him.

Persons: Alejandro N, Biden’s, Mayorkas, ’, Donald J, Trump, Biden, G.O.P Organizations: Sunday, House Homeland Security, House Republicans, Democratic Locations: U.S, Mexico

☆ How Stanley went from making sturdy bottles for laborers to becoming an 'it' status symbol, and causing chaos at Target stores across the US
▼ + stars: | 2024-01-27 | by ( Grace Dean | ) www.businessinsider.com time to read: +10 min

"Every time we linked it, it would sell out so quickly," LeSueur told The New York Times. The Buy Guide had to pay for warehouse space and shipping and handling fees, but was allowed to keep the profits, The Times reported. "It was a big risk," LeSueur told CNBC. AdvertisementThe Buy Guide placed another wholesale order for 5,000 – and they sold out in an hour, Retail Dive reported. Reilly told CNBC that Stanley was making more products available with each drop but still wanted "a little bit of scarcity" to create a buzz.

Persons: —, Stanley, They've, Alphas, William Stanley Jr, Grace Dean, restocking, Ashlee LeSueur, Taylor Cannon, Linley Hutchinson —, LeSueur, Emily Maynard, Maynard, Terence Reilly, Reilly, he'd, Crocs, Frederic J . Brown, TikTokers, Bon Appétit, Stanley's Quenchers, Lainey Wilson, aren't, Gen Zers, Alpha, Casey Lewis, Lewis, –, Zers, they'll, Grace Mary Williams, it's, Kaitlin Gostel, Barnes, Noble, Harry Potter, Gostel, I've Organizations: Service, Business, Instagram, New York Times, CNBC, Times, The Times, Wall Street, Getty, Target, Starbucks Locations: Brooklyn, workdays, Crocs, AFP, Pendleton

☆ Bitcoin breaks below $39,000 as post-ETF tumble continues
▼ + stars: | 2024-01-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin extended its recent declines on Tuesday, falling further below $40,000 to its lowest level since the beginning of December. Some have pointed to short-term selling pressure from exits from the Grayscale Bitcoin Trust (GBTC), which has seen about $2 billion in outflows since Jan. 19 while BlackRock's iShares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Fund have each seen more than $1 billion in inflow. Expectations around the event emerged last summer intensified in August, pushing the bitcoin price steadily higher. The move in bitcoin continued to pull the rest of the crypto market lower. Microstrategy , which has long traded as a proxy for the bitcoin price, lost 3%, while the biggest miners, Marathon Digital and Riot Platforms , fell 3% and 4%, respectively.

Persons: Bitcoin, BlackRock's, Fidelity's, Yuya Hasegawa, Ripple's XRP, dogecoin, Coinbase Organizations: Solana, Marathon, JPMorgan Locations: outflows, GBTC, bitcoin

☆ CNBC Daily Open: Markets upbeat mood
▼ + stars: | 2024-01-23 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange (NYSE) on October 30, 2023 in New York City. Spencer Platt | Getty ImagesThis 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. What you need to know todayThe bottom lineWall Street really seems to be in an upbeat mood as Monday's trading session broke new ground. Investors saw a bumper day as the Dow hit a new record and surpassed the 38,000 level for first time.

Persons: Spencer Platt, Dow Organizations: New York Stock Exchange, Getty, CNBC, Investors, Nasdaq Locations: New York City, U.S

☆ Will the Boom in Luxury and Wellness Travel Fizzle?
▼ + stars: | 2024-01-18 | by ( Elaine Glusac | ) www.nytimes.com time to read: +1 min

After the travel frenzy of 2023, all signs point to increasing interest in far-flung destinations, villa rentals, private jet bookings and personal pilgrimages in 2024. “The lust for luxury is real,” said Jack Ezon, the founder of the high-end travel agency Embark Beyond. “Travel provides the glue that pulls the family close together and unites it around a shared passion,” said Tom Marchant, a co-founder of Black Tomato, which plans pricey bespoke trips. This year, travelers are expected to choose faraway places and board small ships, according to Virtuoso, the consortium of luxury travel agencies. Black Tomato is planning private group treks to untrammeled destinations like the Mitre Peninsula in Argentina’s Patagonia region, priced at more than $60,000 per person.

Persons: ”, Jack Ezon, Tom Marchant Organizations: Consumers, “ Locations: Kimberley, Western Australia, Mitre, Patagonia

☆ Champagne sales fizzle after hitting Covid-era record highs
▼ + stars: | 2024-01-15 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Champagne sales have lost some of their pop in 2023 following a few record-breaking years of sales spurred by the end of Covid-19 lockdowns. That marks nearly a return to pre-Covid levels in 2019, when 297.3 million bottles were shipped. During its peak in 2022, sales soared by 33%, when 325 million bottles were shipped. The name Champagne is exclusively reserved for wines harvested and produced by 16,200 growers on 34,300 hectares northeast of Paris. This cost France a total of roughly $2 billion in sales, a recent report said.

Persons: Comité, “, David Chatillon, LVMH Moët Hennessy, Dom Pérignon, CNN’s Anna Cooban Organizations: New, New York CNN Locations: New York, Covid, Champagne, France, Paris

☆ Morning Bid: Risk rally rages on
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +3 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 20, 2023. The dollar index , which measures the U.S. currency against six of its peers, fell to its lowest since Aug. 31. A Reuters poll showed analysts expect the index to continue its more-than-28% rally this year into 2024 to reach a three-decade high of 35,000 by end-June. With the economic calendar bare in Europe, the rally may fizzle out although futures indicate European stock markets are set for a slightly higher open. The spotlight will shine bright on earnings from artificial intelligence chip leader Nvidia (NVDA.O), with expectation of another blockbuster revenue forecast.

Persons: Ankur Banerjee, OpenAI, Emmett Shear, Sam Altman, Jacqueline Wong Organizations: REUTERS, Staff, Ankur, Federal, Lower Treasury, Japan's Nikkei, Nvidia, Microsoft, Reuters, Palestinian, Thomson Locations: Frankfurt, Germany, Asia, Pacific, Japan, Lower, Europe, Israel, Gaza, Canada

☆ Is the Great Resignation over? Why bosses are leaving at record rates
▼ + stars: | 2023-11-15 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +6 min

sturti | Getty ImagesThe Great Resignation may be over for most workers — but for some top honchos, it's only just begun. CEOs are looking around and thinking: 'I prefer a position in another company,' or 'I prefer retirement. "CEOs are looking around and thinking: 'I prefer a position in another company,' or 'I prefer retirement. While businesses rally to ensure the mental well-being of their workforce, CEOs might find themselves isolated in their struggles. While businesses rally to ensure the mental well-being of their workforce, CEOs might find themselves isolated in their struggles."

Persons: Gray, Alexander Kirss, Covid, switchers, Kirss, Carlina, —, LaShawn Davis, Challenger, Andrew Challenger, Davis, there's Organizations: Challenger, Christmas, Gartner, CNBC, Employees, Hospitals Locations: Ukraine

☆ Ticket prices are plunging ahead of Formula 1’s next race set on the Las Vegas Strip
▼ + stars: | 2023-11-09 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Ticket and hotel room prices are falling sharply in Las Vegas as the gambling mecca preps to host its first Formula 1 Grand Prix race in four decades next week. Tickets were priced at roughly $2,000 a year ago for the Las Vegas race. Still, in true Las Vegas fashion, some hotels are going all-out with F1-themed weekends packages. Las Vegas is the third US city to host an F1 race, after Miami and Austin. F1 claims that the race will generate $1.3 billion, making it the “single largest special event in Las Vegas history.”

Persons: fizzle, Max Verstappen, Brett Goldberg, TickPick, ” Goldberg, Goldberg, That’s, Heineken Silver, Bud, ” Organizations: New, New York CNN, Las, CNN, Caesars, Grands Prix, MGM Resorts, Bellagio, Heineken, Netflix Locations: New York, Las Vegas, Qatar, Miami, Vegas, Austin

☆ US stocks are on their longest winning streak in 2 years – but the Fed and an earnings slowdown still linger as threats, analysts warn
▼ + stars: | 2023-11-08 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

The S&P 500 and the Nasdaq Composite indices have notched their longest winning streaks in two years. Some on Wall Street think the rally can last – but others are still fretting about a potential correction. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The benchmark S&P 500 gauge has climbed 6% since October 27, while the tech-heavy Nasdaq Composite is up 8% over the same period. AdvertisementAdvertisementThe rally has been a welcome development for investors after a rough couple of months for stocks.

Persons: Stocks, —, Bilal Hafeez, Morgan Stanley's, Mike Wilson –, –, David Donabedian Organizations: Nasdaq, Service, Federal Reserve, CIBC Private Wealth

☆ A bearish bet on the S&P 500 for investors that don't believe in this comeback
▼ + stars: | 2023-11-07 | by ( Nishant Pant | ) www.cnbc.com time to read: +3 min

However, last week's mind-boggling rally following the Federal Reserve's decision to forgo another rate hike caught many investors by surprise. The trade structure I am going to use here is called a “bear put spread” also known as a “put debit spread”. All I need is for SPY to drop by $1 by expiration date for this trade to double my money. THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: ” Organizations: Bulls, Federal, Trust

☆ The stock market's latest rally is about to fizzle amid a barrage of concerns, JPMorgan says
▼ + stars: | 2023-11-06 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The stock market's latest rally is set to fizzle, according to JPMorgan's Marko Kolanovic. He highlighted a number of looming concerns for investors, from valuations to higher-for-longer interest rates. AdvertisementAdvertisementLast week's stock market rally is about to fizzle, according to JPMorgan's chief global markets strategist Marko Kolanovic. While stock market investors would like to see interest rates drop, the reason behind any potential cut is what matters the most. Morgan Stanley's Mike Wilson reiterated his view on Monday that the recent rally in stocks is nothing more than a bear market rally.

Persons: JPMorgan's Marko Kolanovic, Kolanovic, —, Marko Kolanovic, Morgan Stanley's Mike Wilson Organizations: Service, Markets, Federal Reserve Locations: fizzle

☆ November's stock gains look like a bear market rally as yields fall, and further upside is unlikely, Morgan Stanley's top strategist says
▼ + stars: | 2023-11-06 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Morgan Stanley's top strategist says stock gains at the start of November are just a bear market rally. "We think last week's rally in stocks was mainly a function of the fall in back-end Treasury yields." AdvertisementAdvertisementMajor stock indexes are coming off their strongest weekly performances of the year, but to Mike Wilson, Morgan Stanley's top stock strategist, further upside is likely limited and the fresh gains to start November are merely a bear market rally. Instead, the market was simply reacting to the plunge in bond yields after the benchmark 10-year government bond hit the highest level since 2007. DataTrek Research noted Monday that the S&P 500 could return to its July high of 4,589 if bond yields drop below 4%.

Persons: Morgan Stanley's, —, Mike Wilson, Morgan, Wilson, Morgan Stanley, Morgan Stanley Morgan Stanley chalked Organizations: Service, Federal Reserve, Bank of America

☆ US stocks climb as investors look to continue momentum after best trading week of the year
▼ + stars: | 2023-11-06 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

US stocks climbed as traders tried to keep the rally going following the best week of 2023. 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 . AdvertisementAdvertisementUS stocks traded higher Monday after each of the major indexes recorded their strongest weekly performances of the year last week. "We think last week's rally in stocks was mainly a function of the fall in back-end Treasury yields," Wilson wrote in a Monday note.

Persons: Morgan Stanley, —, Mike Wilson, Wilson, JPMorgan's Marko Kolanovic, Kolanovic Organizations: JPMorgan, Service, Federal Reserve, Dow Jones, Nasdaq

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