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☆ Dow drops more than 600 points on inflation and growth concerns, heads for biggest drop of the year: Live updates
▼ + stars: | 2024-04-25 | by ( Brian Evans | ) www.cnbc.com time to read: +6 min

Economists polled by Dow Jones forecast GDP growth would come in at 2.4%. Tech tumbleThe lackluster GDP added further pressure to an already-tense market contending with concerns over a pullback in growth among technology earnings. "This report was the worst of both worlds: economic growth is slowing and inflationary pressures are persisting," wrote Chris Zaccarelli, investment chief at Independent Advisor Alliance. Investors are hoping the PCE report, which is the Fed's preferred measure of inflation, will show an improvement in pricing pressures after the March consumer inflation report came in hotter than expected. — Brian Evans8:58 a.m.: 10-year Treasury yield jumps to highest level since NovemberThe 10-year Treasury yield broke above 4.7% following the GDP report, hitting its highest level since November.

Persons: Johannes Eisele, Dow Jones, Chris Larkin, Morgan Stanley, Meta, Thierry Wizman, UnitedHealth, Alex Harring, Mark Zuckerberg's, Hakyung Kim, Fred Imbert, Chris Zaccarelli, Sarah Min, — Brian Evans, — Jesse Pound Organizations: New York Stock Exchange, AFP, Getty, Dow Jones, Caterpillar, IBM, Nasdaq, Dow, Federal Reserve, Federal, Traders, Meta, Business Machines, FX, Macquarie, Microsoft, Amazon, Merck, York Stock Exchange, Independent, Alliance, Investors, Treasury, Gross

Goldman Sachs' David Kostin expects earnings will be higher this year even amid concerns of margin pressures in the face of higher inflation. Of those companies, Kostin noted, roughly two-thirds have topped expectations on the bottom line, while about one-third beat estimates on the top line. "What that suggests to us is that companies are able and demonstrating the ability to kind of squeak over a little bit margin," Kostin told CNBC's "Squawk on the Street" on Tuesday. The chief U.S. equity strategist said he anticipates inflation will eventually move lower this year, and interest rates will come down from their highs, helping to drive earnings growth. "Our forecast is that [the] market rises slowly in line with expectations for earnings," Kostin said.

Persons: Goldman Sachs, David Kostin, Kostin, CNBC's, Sarah Min

Kess raised his price target to $47 from $36, suggesting 11% upside from Tuesday's close. His price target, cut to $276 from $311, implies roughly 10% downside from Tuesday's close. "We upgrade SUN to Buy and lift our [target price] to $65 following several cash flow accretive transactions," Dounis wrote. "The January 11th transactions drive ~25% of the target price increase; the NS Acquisition drives the remaining ~75% increase." NKLA mountain 2020-07-01 NKLA since 2020 Still, the analyst's $2 price target implies the stock could surge more than 200% from here.

Persons: Morgan Stanley, Daiwa, Jonathan Kees, Kess, — Michelle Fox, Jon Tower, Chipotle, Sarah Min, Gordon Haskett downgrades Uber, Gordon Haskett, Robert Mollins, Uber, Mollins, — Jesse Pound, Colin Bristow, Bristow, Michael Tyndall, Stellantis, Tyndall, — Sarah Min, Pierre Ferragu, Lisa Su, Ferragu, Sunoco, Spiro Dounis, Dounis, Baird, Nikola, Ben Kallo, NKLA, Kallo, it's, Jessica Reif Ehrlich, Morgan Stanley's Benjamin Swinburne, Swinburne, Goldman Sachs, Eric Sheridan, Erik Woodring, Woodring, Fred Imbert Organizations: CNBC, Big Tech, Wall Street, NewStreet Research, Verizon, Daiwa, Verizon Communications, VZ, Citi, Mexican, UBS downgrades, UBS, HSBC, AMD, Research, NuStar Energy, Zenith Energy, Energy, Netflix, Bank of America, Apple Apple, Edge, Apple Locations: Seattle, Biogen, Skyclarys, Stellantis, Europe, China

☆ Asia markets rise as Wall Street rallies and Treasury yields ease
▼ + stars: | 2023-10-11 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Goldman Sachs' chief U.S. equity strategist David Kostin does not expect the Israel-Hamas conflict will have a huge impact on markets. "It's a tragedy from a human point of view," Kostin told CNBC's "Squawk on the Street" on Tuesday. "But the idea fundamentally, we'll be getting earnings for the last three months, which is obviously backward looking. And the prospects looking forward are probably more domestically facing issues that are sort of pertinent to a lot of portfolio managers." Still, the strategist expects other risk factors will continue to weigh on stocks, citing higher yields and oil prices that could impede multiple expansion.

Persons: Goldman Sachs, David Kostin, Kostin, CNBC's, we'll, Sarah Min Locations: Israel

The S&P 500 slumped on Tuesday to kick off the first trading day of a holiday-shortened week, weighed by a jump in crude oil prices. The S&P 500 dipped 0.15%, while the Nasdaq Composite hovered near the flatline. Oil prices rose after Saudi Arabia extended its 1-million-barrels per day voluntary oil production cuts. "If you have oil prices moving up that could be inflationary," said Keith Lerner, co-chief investment officer at Truist. Meanwhile, the Dow and the Nasdaq are coming off their best weekly performances since July, while the S&P 500 registered its best week since June.

Persons: Keith Lerner, Goldman Sachs, Adam Turnquist, Sarah Min Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, West Texas, Halliburton, Occidental Petroleum, EOG Resources, American Airlines, United Airlines, Delta Air Lines, Treasury, Dow, LPL Locations: New York City, Saudi Arabia

☆ European markets open marginally higher at end of choppy week
▼ + stars: | 2023-06-09 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: 1 min

The S&P 500 is headed for a fourth straight week of gains for the first time since last August. As of Thursday's close, the broader index was higher by nearly 0.3%. Meanwhile, the Dow Jones Industrial Average is on pace for a second consecutive week of gains, or its best streak since its four straight weeks of gains ending in April. On the other hand, the Nasdaq Composite is on pace to break a six-week winning streak. The tech-heavy index is just slightly down for the week, by 0.02%.

Persons: Sarah Min, Chris Hayes Organizations: Dow Jones, Nasdaq

☆ European markets open higher after another record high for FTSE 100
▼ + stars: | 2023-02-16 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

There could be some strength in this stock rally, according to Victoria Greene, chief investment officer at G Squared Private Wealth. "It's ignoring the bond market, it's ignoring the Fed, it's ignoring fundamentals and it's ignoring some of the economic data. All it's focused on is rising on technicals," Greene said Wednesday on CNBC's "Closing Bell: Overtime." "And this does happen — early innings of a bull market, you always see the market run without any fundamental reason why," she continued. According to Greene, that suggests the rally "does have some legs."

☆ Asia markets rise following Wall Street's gains, Tokyo inflation notches up
▼ + stars: | 2023-01-27 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

Wall Street analysts are divided on Tesla after the electric car company's latest quarterly results. While the move triggered a drop in used Tesla prices, they also supported demand for the vehicles. "Thus far in January we've seen the strongest orders year to date than ever in our history. "Importantly, Tesla commented that since it lowered prices it has seen the strongest orders year-to-date in its history, with orders running about 2X production. While the strong orders are promising, the analyst said the auto gross margins were too weak to overlook.

☆ Asia-Pacific stocks rise as Fed signals smaller rate hikes ahead
▼ + stars: | 2022-12-01 | by ( Jihye Lee | ) www.cnbc.com time to read: 1 min

Federal Reserve Chair Jerome Powell says he continues to believe in a path to a "soft-ish" landing — even if the path has narrowed over the past year. "I would like to continue to believe that there's a path to a soft or soft-ish landing" Powell said at the Brookings Institution. "Our job is to try to achieve that, and I think it's still achievable," Powell said. "If you look at the history, it's not a likely outcome, but I would just say this is a different set of circumstances." — Sarah Min

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