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Stocks set record highs as bond yields slide
  + stars: | 2021-06-11 | by ( Herbert Lash | Tom Wilson | ) www.reuters.com + 0.00   time to read: +5 min
The pan-regional STOXX Europe 600 index rose 0.7% to a record close, posting its sixth straight session of gains and best weekly performance at 1.1% since early May. “There is a concern that eventually you could get some migration out of stocks into bonds,” Meckler added. U.S. growth-oriented stocks slightly outpaced value stocks as the two styles vied for leadership: big tech stocks added the most upside followed by financial shares. Benchmark German 10-year bonds fell 3 basis points to -0.28% and were set for their best week of the year. The dollar index rose 0.49%, with the euro down 0.51% to $1.2107.
Persons: Brendan McDermid, “ You’ve, , Michael James, Rick Meckler, Meckler, Jack Ablin, ” Ablin, , Jeremy Gatto Organizations: New York Stock Exchange, REUTERS, European Central Bank, Federal Reserve, Treasury, Wedbush Securities, Cherry Lane Investments, Dow Jones, Nasdaq, Cresset Capital Management, Japan, Brent Locations: St, New York City, U.S, Europe, Stocks, breakeven, Los Angeles, New Vernon , New Jersey, Asia, Pacific, COVID, Unigestion
GameStop falls 25% on potential share sale, other 'meme stocks' falter
  + stars: | 2021-06-10 | by ( ) www.reuters.com + 0.00   time to read: +3 min
A person walks past a GameStop in the Manhattan borough of New York City, New York, U.S., January 29, 2021. REUTERS/Carlo Allegri/File PhotoShares of GameStop Corp (GME.N) fell 25% on Thursday and other so-called meme stocks also declined in a sell-off that hit a broad range of stocks favored by retail investors on social media platforms. "It appears that other companies, like GameStop, are hoping to follow AMC’s lead by issuing shares and otherwise profit from the meme stocks run up,” Ablin said. In the past two weeks, the so-called "meme stocks" have received $1.27 billion of retail inflows, Vanda Research said on Wednesday. That matched their peak in January, when the surge in GameStop shares squeezed short sellers and further boosted the stock price.
Persons: Carlo Allegri, Inc's, Jack Ablin, ” Ablin, Clover, Vanda Organizations: GameStop, REUTERS, GameStop Corp, AMC Entertainment Holdings, Clover Health Investments Corp, Geo Group Inc, AMC, Cresset Capital, , Wedbush Securities, Medicare, U.S . Securities, Exchange Commission, SEC, Vanda Research, Thomson Locations: Manhattan, New York City , New York, U.S
A person walks past a GameStop in the Manhattan borough of New York City, New York, U.S., January 29, 2021. Worries that other companies could leverage recent stock price gains by announcing share sales may be rippling out to the broader meme stock universe, said Jack Ablin, chief investment officer at Cresset Capital. "It appears that other companies, like GameStop, are hoping to follow AMC’s lead by issuing shares and otherwise profit from the meme stocks run-up,” Ablin said. GameStop will likely sell all 5 million new shares but that amount only represents a “modest” dilution of 7%, Wedbush analysts wrote. In the past two weeks, the so-called "meme stocks" have received $1.27 billion of retail inflows, Vanda Research said on Wednesday, matching their January peak.
Persons: Carlo Allegri, Jake Dollarhide, Jack Ablin, ” Ablin, Inc's, GameStop's, Vanda Organizations: GameStop, REUTERS, GameStop Corp, Longbow Asset Management, AMC Entertainment Holdings, Clover Health Investments Corp, Geo Group Inc, AMC, Cresset, , Wedbush Securities, U.S . Securities, Exchange Commission, Vanda Research, Thomson Locations: Manhattan, New York City , New York, U.S
A Wall St. sign is seen near the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2021. Investors were concerned that a robust jobs report that pointed to rising inflation could prompt the Fed to pull back on stimulus put in place during the pandemic. The heavyweight S&P 500 tech sector (.SPLRCT) was the best-performing group, rising 2.0%, as longer-dated U.S. Treasury yields fell. Overall, the S&P 500 is up over 12% this year, near record high levels. The S&P 500 posted 51 new 52-week highs and no new lows; the Nasdaq Composite recorded 98 new highs and 14 new lows.
Persons: Brendan McDermid, Jack Ablin, Russell, William Ackman’s, Joe Biden Organizations: New York Stock Exchange, REUTERS, Reuters, Investors, Cresset Capital Management, Dow Jones, Nasdaq, Treasury, Tech, AMC Entertainment Holdings, Tontine Holdings, Universal Music Group, NYSE, Thomson Locations: New York City, U.S, Brendan McDermid U.S
A Wall St. sign is seen near the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2021. Investors were concerned that a robust jobs report that pointed to rising inflation could prompt the Fed to pull back on stimulus put in place during the pandemic. The heavyweight S&P 500 tech sector (.SPLRCT) jumped, as longer-dated U.S. Treasury yields fell. Tech and other growth stocks are seen as particularly vulnerable if inflation drives up bond yields and more heavily discounts the value of future cash flows. Overall, the S&P 500 is up some 12% this year.
Persons: Brendan McDermid, Jack Ablin, Russell, “ It’s, , Robert Pavlik, William Ackman’s, Joe Biden Organizations: New York Stock Exchange, REUTERS, Reuters, Investors, Cresset Capital Management, Dow Jones, Nasdaq, Treasury, Tech, Dakota Wealth, Tontine Holdings, Universal Music Group, Thomson Locations: New York City, U.S, Brendan McDermid U.S
On the heels of a surprisingly weak jobs report, the retailers’ reports will offer the latest insight on how the economy is faring as businesses rebound from the coronavirus pandemic. Other retailers set to report include Ralph Lauren, TJX Cos and L Brands, owner of Victoria’s Secret and Bath & Body Works. With over 90% of S&P 500 companies having reported, overall earnings are expected to have climbed 50.6% from a year ago, according to Refinitiv IBES. The consumer discretionary sector, which includes many retailers, is seeing profits jump 191.3%, the biggest rise of any sector. Analysts expect the company to post a 2.2% rise in earnings for its latest quarter, according to Refinitiv.
Persons: Lucas Jackson, , James Ragan, Stocks, Ralph Lauren, TJX Cos, Jack Ablin, Anthony Saglimbene, Refinitiv, ” Ragan Organizations: YORK, New York Stock Exchange, REUTERS, Walmart Inc, Target Corp, Depot Inc, Brands, Body, Federal Reserve, Cresset Capital Management, Ameriprise, Walmart Locations: New York, U.S, Davidson, States
On the heels of a surprisingly weak jobs report, the retailers' reports will offer the latest insight on how the economy is faring as businesses rebound from the coronavirus pandemic. Other retailers set to report include Ralph Lauren (RL.N), TJX Cos (TJX.N) and L Brands (LB.N), owner of Victoria's Secret and Bath & Body Works. Higher inflation could crimp consumer demand and company profit margins or force the Federal Reserve to tighten monetary policy. With over 90% of S&P 500 companies having reported, overall earnings are expected to have climbed 50.6% from a year ago, according to Refinitiv IBES. The consumer discretionary sector (.SPLRCD), which includes many retailers, is seeing profits jump 191.3%, the biggest rise of any sector.
Persons: , James Ragan, Stocks, Ralph Lauren, RL.N, TJX Cos, Jack Ablin, Anthony Saglimbene, Refinitiv, Ragan Organizations: Walmart Inc, Target Corp, Depot Inc, L Brands, Body, Federal Reserve, Cresset Capital Management, Ameriprise, Walmart, Thomson Locations: Davidson, States
Sectors to watch as inflation fears spook U.S. markets
  + stars: | 2021-05-13 | by ( Lewis Krauskopf | ) www.reuters.com + 0.00   time to read: +5 min
REUTERS/Brendan McDermidInflation talk grew on Wednesday as data showed U.S. consumer prices increased by the most in nearly 12 years in April. “Some inflation for companies and markets are healthy,” said Keith Lerner, chief market strategist at Truist Advisory Services. Here are some stocks groups to watch as inflationary concerns rise:REFLATION VS INFLATION: Investors anticipating an economic rebound from the coronavirus pandemic have moved into cyclical sectors expected to see profits pick up in a “reflationary” environment. Broadly, consumer staples companies are seen by some strategists as relatively well equipped to pass through price increases. “It’s not inflation, per se; it’s inflation and the implications for interest rates,” said Jack Ablin, chief investment officer at Cresset Capital Management.
Persons: Brendan McDermid, , Keith Lerner, , Jack Janasiewicz, Consumer Staples, Michael O’Rourke, Gamble Co, Jack Ablin Organizations: YORK, New York Stock Exchange, REUTERS, Advisory, UBS, Treasury, Securities, BCA Research, Natixis Investment, BCA, Companies, Activision Blizzard, Abercrombie, Fitch, Consumer, Procter, Gamble, TECH, Tech, Cresset Capital Management Locations: New York City, U.S, United States
Stock futures rise slightly ahead of first trading day of May
  + stars: | 2021-05-02 | by ( Maggie Fitzgerald | ) www.cnbc.com sentiment -0.94   time to read: +1 min
U.S. stock futures moved higher in overnight trading on Sunday as investors readied for the first trading day of May. Dow futures rose 85 points. S&P 500 futures gained 0.34 and Nasdaq 100 futures rose 0.28%. The S&P 500 is now up 11% for the year. "Investors are gearing up for another busy earnings week capped off with a widely watched jobs report.
Persons: Jack Ablin, Estee Lauder Organizations: Dow, Nasdaq, Apple, Facebook, Cresset Capital, CNBC, Investors, ON Semiconductor
Wall Street ends lower, weighed down by Apple
  + stars: | 2021-04-30 | by ( Noel Randewich | Shivani Kumaresan | ) www.reuters.com + 0.00   time to read: +2 min
(Reuters) - Wall Street ended lower on Friday, with Apple, Alphabet and other tech-related companies weighing on the S&P 500 and Nasdaq despite recent strong quarterly earnings reports. FILE PHOTO: A street sign, Wall Street, is seen outside New York Stock Exchange (NYSE) in New York City, New York, U.S., January 3, 2019. REUTERS/Shannon StapletonA day after the S&P 500 closed at a record high, Apple, Google-parent Alphabet and Facebook each gave back gains following upbeat quarterly reports this week. Most of the 11 major S&P 500 sector indexes fell, with technology, materials and energy among the deepest decliners. Unofficially, the Dow Jones Industrial Average fell 0.53% to end at 33,879 points, while the S&P 500 lost 0.72% to 4,181.21.
Persons: Shannon Stapleton, , Jack Ablin Organizations: Reuters, Apple, Nasdaq, New York Stock Exchange, REUTERS, Google, Inc, Twitter, Big Tech, Cresset Wealth, Dow Jones, Chevron Corp, AbbVie Locations: New, New York City , New York, U.S, Palm Beach , Florida, United States
A street sign, Wall Street, is seen outside New York Stock Exchange (NYSE) in New York City, New York, U.S., January 3, 2019. REUTERS/Shannon StapletonWall Street dropped on Friday, with Apple, Alphabet and other tech-related companies dipping despite recent strong quarterly earnings reports. A day after the S&P 500 closed at a record high, Apple (AAPL.O), Google-parent Alphabet (GOOGL.O) and Facebook (FB.O) each fell more than 1%, giving back gains following upbeat quarterly reports this week. Most of the 11 major S&P 500 sector indexes were lower, with technology (.SPLRCT) and materials (.SPLRCM) down more than 1%, while energy (.SPNY) dropped 2.2%. The Dow Jones Industrial Average (.DJI) was down 0.59% at 33,859.8 points, while the S&P 500 (.SPX) lost 0.72% to 4,180.97.
Persons: Shannon Stapleton, Jack Ablin, advancers Organizations: New York Stock Exchange, REUTERS, Apple, Google, Facebook, Amazon.com Inc, Nasdaq, Big Tech, Cresset Wealth, Dow Jones, Chevron Corp, NYSE, Thomson Locations: New, New York City , New York, U.S, Palm Beach , Florida, United States
But if a deal can be reached, the new tax rate could come into effect this year. Under the new plan, wealthy Americans could face an overall federal capital gains tax rate of 43.4% including the Obamacare tax. For some Americans living in New York and California, their total capital gains tax rate could exceed 50% when state taxes are included, according to the Tax Foundation. They’re going to look to another area of the code to provide for an exclusion or deferral of the capital gains,” he said. Investors can defer and possibly reduce the tax they pay on capital gains if they reinvest the gains in opportunity zone funds, which typically invest in real estate.
Persons: it’s, , Alvina Lo, Roth, Lo, Christopher Karachale, Hanson Bridgett, Jack Ablin, Donald Trump’s, , “ They’re, Andrew King, Goldman Sachs, Elizabeth Dilts Marshall, Bayliss, Michelle Price Organizations: Reuters, Wilmington Trust, Tax Foundation, Cresset, Investors, Management, Svea Herbst Locations: Wilmington, New York, California, San Francisco
What increased capital gains taxes may mean for investors
  + stars: | 2021-04-22 | by ( ) www.cnbc.com sentiment -0.97   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat increased capital gains taxes may mean for investorsCNBC's "Power Lunch" team discusses President Biden's potential capital gains tax, according to a Bloomberg report, with Jack Ablin of Cresset Capital and Doug Sandler of Riverfront Investment Group.
Persons: Jack Ablin, Doug Sandler Organizations: Bloomberg, Cresset Capital, Riverfront Investment Group
Here's what higher capital gains taxes could mean for markets and the economy
  + stars: | 2021-04-22 | by ( ) www.cnbc.com sentiment -0.96   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's what higher capital gains taxes could mean for markets and the economyCNBC's "Power Lunch" team discusses President Biden's reported capital gains tax increase, with Jack Ablin of Cresset Capital and Doug Sandler of Riverfront Investment Group.
Persons: Biden's, Jack Ablin, Doug Sandler Organizations: Cresset Capital, Riverfront Investment Group
How the Biden capital gains tax proposal would hit the wealthy
  + stars: | 2021-04-22 | by ( Greg Iacurci | ) www.cnbc.com + 0.00   time to read: +4 min
Capital gains taxInvestors currently pay a 23.8% top rate on long-term capital gains. Under current law, long-term capital gains are taxed favorably with respect to wages. The White House plan would instead tax capital gains as ordinary income, at a top proposed rate of 39.6%. For example, the plan may exempt a certain portion of wealthy investors' capital gains from the higher tax, according to tax experts. "There will be plenty of time to plan and respond to any tax or tax proposal that's ultimately in place," he added.
Persons: Al Drago, Joe Biden, Leon LaBrecque, Biden, It's, Jack Ablin, LaBrecque, Trump Organizations: Getty, Bloomberg, Capital, Sequoia Financial, Affordable, American Families, Finance, Cresset Capital Management, CNBC Locations: Troy , Michigan
Rates could go a 'fair amount higher' from here, says Cresset's Jack Ablin
  + stars: | 2021-03-18 | by ( ) www.cnbc.com sentiment -0.94   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRates could go a 'fair amount higher' from here, says Cresset's Jack AblinCNBC's "Power Lunch" team discusses markets and rising rates with markets with Yana Barton of Eaton Vance and Jack Ablin of Cresset Capital.
Persons: Jack Ablin, Yana Barton, Eaton Vance Organizations: Cresset
How these investors are picking stocks amid rising rate environment
  + stars: | 2021-03-18 | by ( ) www.cnbc.com sentiment -0.64   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow these investors are picking stocks amid rising rate environmentCNBC's "Power Lunch" team discusses markets and rising rates with markets with Yana Barton of Eaton Vance and Jack Ablin of Cresset Capital.
Persons: Yana Barton, Eaton Vance, Jack Ablin Organizations: Cresset
When the major stocks indices hit record highs across the board Wednesday, the FANG names were right there with them, leading the market higher. Thursday's market increased slightly while most FANG names — Facebook, Amazon, and Google parent Alphabet — continue to rise. We did take some of our growth risk off the table at the beginning of the year." Calvasina said fears about the pandemic may be encouraging investors to put money back into growth stocks despite their high valuations. "All things being equal and the market drops, it is going to be the FANG stocks that probably fall more.
Persons: Jack Ablin, Lori Calvasina, Calvasina, Ablin Organizations: Facebook, Netflix, Cresset Wealth, RBC, Apple, Microsoft Locations: U.S, Europe
Yellen to tell lawmakers 'act big' on coronavirus relief
  + stars: | 2021-01-19 | by ( Reuters Staff | ) www.reuters.com + 0.00   time to read: +6 min
NEW YORK (Reuters) - Janet Yellen, U.S. President-elect Joe Biden’s nominee for Treasury Secretary, urged lawmakers on Tuesday to “act big” on the next coronavirus relief package, adding that the benefits outweigh the costs of a higher debt burden. I believe they’ll pass it, we’ll see another big package and that’s a short-term positive but a long-term negative. Yellen will reportedly stress the need to “act big” and take advantage of low borrowing rates to address what many view as a K-shaped recovery. “Reports suggest that if asked, Yellen will disavow a weak dollar policy whilst affirming commitment to a market-determined exchange rate. Press comment suggests Janet Yellen intends to argue that the US should ‘go big’ on fiscal easing.
Persons: Janet Yellen, Joe Biden’s, Joe Biden's, Anna Moneymaker, Biden, JACK ABLIN, there’s, I’m, “ I’m, She’s, , she’ll, ” PETER CARDILLO, Yellen, Trump, STEVE ENGLANDER, ” EDWARD MOYA, Trump’s Organizations: YORK, Treasury, REUTERS, Banking, U.S, CHICAGO, Biden, WIN, United, NEW, Fed, SOCIETE GENERALE, ECB Locations: U.S, Washington , U.S, United States, Yellen’s, COVID
FILE PHOTO: U.S. outgoing Federal Reserve Chair Janet Yellen holds a news conference after a two-day Federal Open Market Committee (FOMC) meeting in Washington, U.S. December 13, 2017. Other aspects of Biden’s plan, such as increased taxes on corporations and the wealthy, have also received a mixed reception. “Obviously, she feels the economy needs this assistance and it’s a question of convincing the Senate,” said Peter Cardillo, chief market economist at Spartan Capital Securities. But it is also important for America to invest,” Yellen told the Senate. But she said it was also important that corporations and wealthy individuals paid their fair share.
Persons: Janet Yellen’s, Janet Yellen, Jonathan Ernst, Joe Biden, , Peter Cardillo, , ” Yellen, Yellen, Donald Trump’s, Biden, Jack Ablin, Biden’s, Donald Trump, Trump Organizations: YORK, Market, REUTERS, Federal, Spartan Capital Securities, Cresset Capital Management, Fed, Yellen Locations: Washington , U.S, America, United States
Other aspects of Biden’s plan, such as increased taxes on corporations and the wealthy, have also received a mixed reception. “Obviously, she feels the economy needs this assistance and it’s a question of convincing the Senate,” said Peter Cardillo, chief market economist at Spartan Capital Securities. Yellen alluded to some of the market’s longer-term concerns in Tuesday’s testimony, during which she urged lawmakers to boost spending now, and pay down debt later. But it is also important for America to invest,” Yellen told the Senate. (Reporting by Lewis Krauskopf; additional reporting by Stephen Culp and Megan Davies; editing by Megan Davies and Chizu Nomiyama)
Persons: Janet Yellen’s, Joe Biden, , Peter Cardillo, , ” Yellen, Yellen, Donald Trump’s, Biden, Jack Ablin, Biden’s, Donald Trump, Trump, Lewis Krauskopf, Stephen Culp, Megan Davies, Chizu Organizations: YORK, Federal, Spartan Capital Securities, Cresset Capital Management, Fed, Yellen Locations: America, United States
QUOTES 3-Yellen to tell lawmakers "act big" on coronavirus relief
  + stars: | 2021-01-19 | by ( Reuters Staff | ) www.reuters.com + 0.00   time to read: +6 min
NEW YORK, Jan 19 (Reuters) - Janet Yellen, U.S. President-elect Joe Biden’s nominee for Treasury Secretary, urged lawmakers on Tuesday to “act big” on the next coronavirus relief package, adding that the benefits outweigh the costs of a higher debt burden. Yellen’s testimony before the Senate Banking Committee came one day before Biden is to be sworn into office, having last week outlined a $1.9 trillion stimulus package proposal. I believe they’ll pass it, we’ll see another big package and that’s a short-term positive but a long-term negative. Yellen will reportedly stress the need to “act big” and take advantage of low borrowing rates to address what many view as a K-shaped recovery. Press comment suggests Janet Yellen intends to argue that the US should ‘go big’ on fiscal easing.
Persons: Janet Yellen, Joe Biden’s, Biden, JACK ABLIN, there’s, I’m, “ I’m, She’s, , she’ll, ” PETER CARDILLO, Yellen, Trump, STEVE ENGLANDER, ” EDWARD MOYA, Trump’s Organizations: YORK, Treasury, Banking, U.S, CHICAGO, Biden, WIN, United, NEW, Fed, SOCIETE GENERALE, ECB Locations: U.S, United States, Yellen’s, COVID
Supporters of U.S. President Donald Trump clash with police officers in front of the U.S. Capitol Building in Washington, U.S., January 6, 2021. So there is some sensitivity to what is going on in Washington, but I don’t think it’s long term. These actions, fueled by lies and wild conspiracy theories espoused by President Trump, must be unequivocally condemned by every corner of our society. “It has pulled the market back a little bit I don’t think it turns the day to a negative environment. I don’t think investors are necessarily looking for more upside in the VIX on this.
Persons: Donald Trump, Mike Pence, Democrat Joe Biden, Leah Millis, Trump, JAMIE DIMON, JPMORGAN CHASE “, ” PAUL NOLTE, ” LETITIA JAMES, President Trump, Joe Biden, JACK ABLIN, ” ROBERT PAVLIK, Biden, it’s, KEVIN FLANAGAN, QUINCY KROSBY, Republican Party ”, ” JIM PAULSEN, , ” LOU BRIEN, ” EDWARD MOYA, Pelosi, ” CHRISTOPHER MURPHY, Stocks Organizations: YORK, U.S, Capitol, Democrat, Republican, REUTERS, Democratic, Trump, Nasdaq, Treasury, JPMORGAN, CHICAGO, GENERAL, LIFE, Electoral, Georgia, PRUDENTIAL, NEW, Republican Party, GROUP, That’s, TIM, SUSQUEHANNA Locations: Washington , U.S, Georgia, Washington, NEWPORT BEACH , CALIFORNIA, DAKOTA, FAIRFIELD , CONNECTICUT, NEWARK, NEW JERSEY, MINNEAPOLIS, Georgia’s, INVERNESS, BALA CYNWYD, PENNSYLVANIA
Supporters of U.S. President Donald Trump clash with police officers in front of the U.S. Capitol Building in Washington, U.S., January 6, 2021. COMMENTSLETITIA JAMES, NEW YORK ATTORNEY GENERAL (email)“The coup attempt initiated by outgoing President Trump has been despicable. These actions, fueled by lies and wild conspiracy theories espoused by President Trump, must be unequivocally condemned by every corner of our society. “It has pulled the market back a little bit I don’t think it turns the day to a negative environment. I don’t think investors are necessarily looking for more upside in the VIX on this.
Persons: Donald Trump, Mike Pence, Democrat Joe Biden, Leah Millis, Trump, LETITIA JAMES, President Trump, Joe Biden, JACK ABLIN, ” ROBERT PAVLIK, Biden, it’s, KEVIN FLANAGAN, QUINCY KROSBY, Republican Party ”, ” JIM PAULSEN, , ” LOU BRIEN, ” EDWARD MOYA, Pelosi, ” CHRISTOPHER MURPHY, Stocks Organizations: YORK, U.S, Capitol, Democrat, Republican, REUTERS, Democratic, Trump, Nasdaq, Treasury, GENERAL, LIFE, Electoral, Georgia, PRUDENTIAL, NEW, Republican Party, GROUP, That’s, CHICAGO, TIM, SUSQUEHANNA Locations: Washington , U.S, Georgia, NEWPORT BEACH , CALIFORNIA, DAKOTA, FAIRFIELD , CONNECTICUT, NEWARK, NEW JERSEY, MINNEAPOLIS, Georgia’s, INVERNESS, BALA CYNWYD, PENNSYLVANIA
It could also pave the way for President-elect Joe Biden to push through greater corporate regulation and higher taxes. Energy stocks jumped 4.5% on the back of higher oil prices, while healthcare and materials hit fresh record highs. FILE PHOTO: A Wall St. sign is seen near the New York Stock Exchange (NYSE) in the financial district in New York, U.S., November 24, 2020. “We looked at things like bullish sentiment, which is not at an extreme, but it’s certainly higher than normal. Advancing issues outnumbered declining ones on the NYSE by a 2.86-to-1 ratio; on Nasdaq, a 2.49-to-1 ratio favored advancers.
Persons: Joe Biden, , Jack Ablin, Brendan McDermid, “ We’re, ” Cresset’s Ablin, Organizations: YORK, Democratic, Senate, Democrat, Republican, Investors, Cresset Capital Management, Dow Jones, Nasdaq, Energy, New York Stock Exchange, REUTERS, Institute of Supply Management, Chipmaker Micron Technology Inc, Citigroup, China Telecom Corp Ltd, China Mobile Ltd, China Unicom Hong Kong Ltd, NYSE Locations: Georgia, Washington, Chicago, New York, U.S, Britain, China Unicom Hong
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