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☆ Hedge fund manager Dan Niles says it's too early to buy beaten-up mega-cap tech stocks
▼ + stars: | 2024-07-24 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +3 min

Hedge fund manager Dan Niles sees this week's tech sell-off as confirmation that the trade is in significant trouble. On July 11, Niles warned on X that earnings season could expose big risks in the megacap tech trade. He was particularly worried about the Magnificent Seven stocks, which include Tesla , Nvidia , Alphabet , Meta Platforms , Microsoft , Apple and Amazon . So, you're going to have a fall off some time next year in cap equipment that's going to be horrific because of that." Longer term, Niles thinks the bull case for megacap tech stocks is intact.

Persons: Dan Niles, Niles, CNBC's, I'm, they're, China's, there's, we're, we've Organizations: Google, Niles Investment Management, Nvidia, Microsoft, Apple, Cisco Locations: frothiness, China, Niles

☆ 'Make or break week:' Stifel sees 40% chance of President Biden dropping out of the race
▼ + stars: | 2024-07-08 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +1 min

"There's a 60% chance, more likely than not, that he's going to stay in," Gardner told CNBC's " Fast Money " on Monday. There's a 40% chance President Joe Biden will not seek reelection, according to Stifel. They can try to persuade Mr. Biden to drop out of the race, but they cannot force him out," Gardner told clients on Monday. If Biden stays in the race, however, Gardner contends the Democratic Party may still see a favorable outcome. "There's a certain level of voter that is just never going to vote for Donald Trump no matter what," Gardner said.

Persons: Gardner, CNBC's, Biden, Brian Gardner, There's, Joe Biden, Mr, Biden's, Donald Trump Organizations: Democratic Party, Oval Locations: Washington

☆ 'Big Short' investor Steve Eisman: Apple is the 'hidden AI play'
▼ + stars: | 2024-05-21 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +1 min

Investor Steve Eisman of "The Big Short" fame expects Apple to capture epic gains from the artificial intelligence boom. "I think Apple is actually the hidden AI play," he told CNBC's " Fast Money " on Tuesday, less than 24 hours before chip giant Nvidia reports its fiscal first-quarter results. "When there will be apps that the consumer can use, they're going to want to use it on their phone," Eisman said. "I have a new iPhone, and I know for sure that when all those apps come on my phone, I'll need a new phone, and I'll need a new iPad and I'll need a new laptop." He suggests investors will have to be patient because the AI-driven apps need time to be developed.

Persons: Steve Eisman, CNBC's, Eisman, Neuberger Berman Organizations: Apple, Nvidia, Devices

☆ Affluent consumers are creating a ‘bubble’ at Walmart, warns retailer’s former U.S. CEO Bill Simon
▼ + stars: | 2024-05-16 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

Even though affluent shoppers helped drive the retailer's latest beat on quarterly results, former Walmart U.S. CEO Bill Simon warns they'll be hard to keep. His warning comes with Walmart stock hitting all-time highs going back to August 1972, when it began trading on the New York Stock Exchange. Last October on "Fast Money," Simon warned bargains were losing their magic because consumers were starting to buckle for the first time in a decade. "As long as there's inflation and those tail winds that come from particularly from food inflation, more traffic will come to the Walmart store," said Simon. "When inflation abates and service becomes more important than price, some of those tail winds will become headwinds," Simon said.

Persons: Bill Simon, they'll, it's, CNBC's, abate, Simon Organizations: Walmart, Walmart U.S, New York Stock Exchange, Darden Restaurants

☆ 'Big Short' trader Danny Moses is still betting against Tesla, says core business is 'falling apart'
▼ + stars: | 2024-05-12 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

Tesla shares are still vulnerable to a big decline ahead, according to investor Danny Moses of "The Big Short" fame . Even with the electric-vehicle maker's stock down 32% so far this year, Moses is sticking with his Tesla short. "Everything is kind of falling apart in their core business," the Moses Ventures founder told CNBC's " Fast Money " on Thursday. Moses, who is known for successfully betting against the housing market before its 2008 implosion, had the $50 short on Tesla last November, too. Moses expects Wayve, an autonomous driving company, to emerge as a serious competitor to Tesla.

Persons: Danny Moses, Moses, CNBC's, Elon Musk, Tesla, Wayve, CNBC's Anna Gleason Organizations: Moses Ventures, Tesla, Nvidia, Microsoft Locations: Wayve

☆ Regional bank earnings may expose critical weaknesses, former FDIC Chair Sheila Bair warns
▼ + stars: | 2024-04-16 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

Regional bank earnings may expose critical weaknesses, according to Sheila Bair, former chair of the U.S. Federal Deposit Insurance Corp.Their quarterly numbers begin hitting Wall Street this week. Bair, who ran the FDIC during the 2008 financial crisis, is nervous that regional bank issues from 2023 aren't fully resolved. "This is still a problem for the regional banks, and fingers crossed that there's [not] another failure. The SPDR S&P Regional Bank ETF (KRE) is down almost 13%, and only four of its members are positive for 2024. Her latest regional bank warning comes as the benchmark 10-year Treasury note yield topped 4.6% this week and hit its highest level since November 2023.

Persons: Sheila Bair, I'm, Bair, CNBC's, aren't, We're Organizations: U.S . Federal Deposit Insurance Corp, P Regional Bank ETF, New York Community Bancorp, Metropolitan Bank Holding Corp, Kearny Financial, Columbia Banking, National Bancorp Locations: New York

☆ Wells Fargo's Chris Harvey says 'I don't feel bullish' — a day after hiking S&P year-end target to highest on Street
▼ + stars: | 2024-04-09 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

Wells Fargo Securities' Chris Harvey hiked his S & P 500 year-end price target by about 20% this week. Harvey, who once referred to himself during a CNBC interview as " not a real positive guy ," raised his official 2024 S & P 500 target to 5,535 on Monday. That's good for growth. That's good for momentum, and it's good for large caps," Harvey added. Harvey's S & P 500 2023 year-end target was 4,420.

Persons: Chris Harvey, Harvey Organizations: Wells Fargo Securities, CNBC, Labor Department Locations: Wells Fargo

☆ Fed must get 'more aggressive' with rate cuts due to weakening jobs market, Canaccord's chief market strategist says
▼ + stars: | 2024-03-31 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +1 min

The Federal Reserve may have new incentives in the second quarter to cut rates deeper this year. Canaccord Genuity's Tony Dwyer thinks a deteriorating jobs market and easing inflation will ultimately push the Fed to act. "Our focus now is those rate cuts are what you need." At the March Federal Reserve policy meeting on interest rates, officials tentatively planned to slash rates three times this year. According to Dwyer, market performance will become much more even by the end of this year into 2025.

Persons: Canaccord Genuity's Tony Dwyer, I'm, CNBC's, Dwyer Organizations: of Labor Statistics

☆ Time is running out for interest rate cuts, market forecaster Jim Bianco warns before Fed meeting
▼ + stars: | 2024-03-18 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

On the eve of the Federal Reserve's two-day policy meeting, Wall Street forecaster Jim Bianco believes the central bank will likely stay on hold until next year. For Fed Chair Jerome Powell to cut this spring, the economy would have to dramatically weaken, according to Bianco. This week's Fed meeting comes almost exactly two years after policymakers started their rate hike campaign. It appears Wall Street may be on notice. In January, Bianco told "Fast Money" the 10-year yield would hit 5.5% this year.

Persons: Jim Bianco, CNBC's, Jerome Powell, Bianco, It's, it's, That's, we're Organizations: Federal, Wall, Bianco Research, Boeing, Fed Locations: It's

☆ Jefferies analyst challenges Trump’s claim that Meta’s Facebook is ‘enemy of the people’
▼ + stars: | 2024-03-11 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +1 min

Jefferies' Brent Thill sees Facebook as vital — despite President Donald Trump calling it an "enemy of the people" on CNBC's "Squawk Box " on Monday. The reverse has happened for small businesses," the firm's tech sector lead told CNBC's " Fast Money ." "The reality is the economic value to all these small businesses' advertising is off the charts." But ultimately, I think, the value created is so great for these small businesses, it's hard to turn down the facts," said Thill. "I'd be buying this stock on this weakness," Thill said.

Persons: Jefferies, Brent Thill, Donald Trump, CNBC's, Trump's, Thill Organizations: Trump, Facebook, Meta, Google Locations: Monday's

☆ Nvidia rally is fueling FOMO in the overall market, Evercore's Julian Emanuel warns
▼ + stars: | 2024-02-12 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

Evercore ISI's Julian Emanuel thinks Nvidia's monster rally is fueling a fear of missing out in the market. "That's the first time that's happened since 2021 for us," the firm's senior managing director said on CNBC's "Fast Money" on Monday. In his Sunday note, Emanuel warned clients there are similarities to Y2K emerging, particularly when it comes to momentum. Meanwhile, Nvidia , the global leader in artificial intelligence chips, is up 46% so far this year and 240% over the past year. "If you can't see yourself being a buyer down there, you should probably lighten up a little bit," said Emanuel.

Persons: Evercore, Julian Emanuel, Nvidia's, Emanuel, CNBC's Melissa Lee, hasn't, It's Organizations: Dow, Nvidia Locations: U.S, Monday's

☆ Big bank executives will assure lawmakers the industry's crisis is over, KBW CEO Thomas Michaud predicts
▼ + stars: | 2023-12-05 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +1 min

Big bank CEOs will likely convey deposits and earnings are stable to lawmakers on Wednesday, according to a major financial services executive. Thomas Michaud, CEO of Stifel company Keefe, Bruyette & Woods, thinks the hearing before the Senate Banking Committee will successfully provide assurance to Washington and Wall Street. "The targeted approach to change deposit insurance to reduce the 'too big to fail' thinking, so depositors don't run like that. He thinks action is needed to keep mid-sized banks competitive with the big banks — starting with lifting Federal Deposit Insurance Corp coverage limits for small businesses. "If deposit insurance reform in my opinion doesn't happen, there's going to be tremendous pressure on those [mid-size] banks to consolidate," Michaud said.

Persons: Thomas Michaud, Keefe, Jamie Dimon, Goldman Sachs, David Solomon, " Michaud, He's, Michaud Organizations: Wall, . Banking, Silicon Valley Bank, Signature Bank, First, Federal Deposit Insurance Corp Locations: Washington, Silicon, First Republic

☆ Wells Fargo unveils 2024 target, warns of 'really, really sloppy' first half for stocks
▼ + stars: | 2023-11-27 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +1 min

Wells Fargo Securities is officially out with its 2024 stock market forecast. The second half will be better, but the first half is going to be really, really sloppy." In his official 2024 outlook note, Harvey told clients to brace for a "trader's market" instead of a "buy-and-hold situation." We've seen the equity market pull back, and it's just not a great setup into 2024," Harvey added. He warns the higher cost of capital is an additional market problem because it prevents multiples from going higher.

Persons: Chris Harvey, CNBC's, Harvey, it's Organizations: Wells Fargo Securities Locations: Wells Fargo

☆ One paycheck not enough: Digital bank Current finds almost half its customers have multiple jobs
▼ + stars: | 2023-11-02 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +1 min

Current CEO Stuart Sopp finds almost half of the firm's payment customers have more than one job. "If you're having a paycheck over the past year, 20, 25% of paycheck depositors have at least one extra job. From DoorDash to Shopify to side businesses, Sopp finds the number is higher than prior years because money doesn't go as far. Sopp launched Current, which provides mobile banking without monthly fees and offers secured credit cards, in 2015. "They're being forced into risks like risky credit cards," noted Sopp, a former Morgan Stanley trader.

Persons: Stuart Sopp, Sopp, CNBC's, doesn't, He's, They're, Morgan Stanley Organizations: Federal Reserve Bank of New Locations: Shopify, America, Federal Reserve Bank of New York

☆ Consumers starting to buckle for first time in a decade, former Walmart U.S. CEO Bill Simon warns
▼ + stars: | 2023-10-09 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +1 min

As three of the nation's biggest retailers kick off key sales week, former Walmart U.S. CEO Bill Simon warns consumers are starting to buckle for the first time in a decade. "That sort of pileup wears on the consumer and makes them wary," the former Walmart U.S. CEO told CNBC's "Fast Money" on Monday. "For the first time in a long time, there's a reason for the consumer to pause." Walmart and Target are trying to compete with their own sales events to get an early jump on the holiday shopping season. Simon observes the retailers have a glaring thing in common: The bargains are not as deep.

Persons: Bill Simon, CNBC's, Simon Organizations: Walmart U.S, Amazon, Deal, Walmart, Target Locations: Israel

☆ JPMorgan's Marko Kolanovic braces for 20% market plunge, delivers recession warning
▼ + stars: | 2023-10-05 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +1 min

JPMorgan's Marko Kolanovic is bracing for a 20% sell-off to hit the S&P 500. According to the Institutional Investor hall-of-famer, high interest rates are creating a breaking point for stocks — and choosing cash at a 5.5% return in money market and short-term Treasurys is a key protection strategy right now. "I'm not sure how we're going to avoid it [recession] if we stay at this level of interest rates," the firm's chief market strategist and global research co-head told CNBC's "Fast Money" on Thursday. He indicates a near-term bounce is still possible because a lot hinges on economic reports over the next few months. It could be 20% downside."

Persons: JPMorgan's Marko Kolanovic, I'm, CNBC's, Kolanovic Organizations: Institutional, famer

☆ Bond yields could race through 5% in next couple of weeks, market forecaster Jim Bianco warns
▼ + stars: | 2023-10-03 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

Wall Street forecaster Jim Bianco expects Treasury yields to go a lot higher — and possibly overshoot through five percent in the next couple of weeks. "I don't think we're near the end of this move in the bond market," the Bianco Research president told CNBC's "Fast Money" on Tuesday. Yields on the five-year and 10-year Treasury notes, as well as the 30-year Treasury bond , hit their highest levels since 2007. "Most of the year bond investors [and] bond managers have been long. The volatility in the bond market is extending to stocks.

Persons: Jim Bianco, CNBC's, Bianco, They've, they've, Dow, Rick Santelli, Santelli Organizations: Bianco Research, Treasury, Nasdaq, CNBC

☆ Arm debut will help jump-start IPO market, early Airbnb investor Rick Heitzmann suggests
▼ + stars: | 2023-09-14 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

Arm Holdings will help jump-start the IPO market, according to the venture capitalist behind Airbnb and Pinterest. Chip design company Arm , which is affiliated with Softbank, jumped almost 25% in its Nasdaq debut on Thursday. And, Heitzmann expects next week's Instacart IPO to follow in Arm's footsteps. "It's the reason they're going to price Instacart down 70% from the last private round." "People were wondering how much appetite is there from the big traditional IPO buyers," Heitzmann said.

Persons: FirstMark, Rick Heitzmann, CNBC's, Chip, Softbank, Johnson, Heitzmann, It's Organizations: Holdings, Softbank, Nasdaq, CART, Heitzmann

☆ Treasury yield jump is not 'death to equities,' BofA's Savita Subramanian says
▼ + stars: | 2023-09-05 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

The latest jump in Treasury yields is not "death to equities," BofA Securities' Savita Subramanian told CNBC's "Fast Money" on Tuesday. In fact, Subramanian sees the bond move as a positive signal — rather than an ominous sign for the economy. In May, Subramanian hiked her S&P 500 year-end target by 7.5% to 4,300, with a range as high as 4,600. Even though she believes the corporate America has learned to do more with less, Subramanian suggests stocks won't go up in a straight line. But I do think we are at a point where we have some visibility with what the Fed is going to do," Subramanian said.

Persons: Savita Subramanian, CNBC's, Subramanian Organizations: Securities, Companies Locations: America

☆ CME Group CEO Terry Duffy: Manage your risk because everyone I've talked to got Fed 'dead wrong'
▼ + stars: | 2023-07-26 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +1 min

It's vital for investors to manage risk right now no matter where interest rates go, according to CME Group CEO Terry Duffy. "Everybody that I've talked to over the last year has been dead wrong when it comes to what the Fed was going to do," Duffy told CNBC's "Fast Money" on Wednesday. "Everybody said the Fed would raise 25 basis points, 50 basis points, 100 basis points and stop," he said. A basis point is one-hundredth of a percentage point. "People need to manage that risk because margins are thin," he said.

Persons: Terry Duffy, I've, Duffy, CNBC's Organizations: Dow Jones, Nasdaq

☆ Cooler inflation is good news, but don't bet on rate cuts, Wells Fargo's Schumacher says
▼ + stars: | 2023-07-12 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +1 min

Wells Fargo Securities' Michael Schumacher says the market is far too quick to price in interest rate cuts. The firm's head of macro strategy acknowledges the June consumer price index out Wednesday is encouraging. They're having a good old time," the firm's head of macro strategy told CNBC's " Fast Money " on Wednesday. Schumacher thinks the Fed will hike rates a quarter point in two weeks and possibly again in September. That could have big ramifications for the benchmark 10-year Treasury note yield.

Persons: Michael Schumacher, Schumacher, it's Organizations: Wells Fargo Securities, Federal Reserve, Treasury Locations: Wells Fargo

☆ BofA top equity strategist Savita Subramanian takes most bullish position in at least 10 years
▼ + stars: | 2023-06-20 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

"Most of the S & P 500 is actually generating free cash flow." Last month, Subramanian hiked her S & P 500 year-end target 7.5% to 4,300, with a range as high as 4,600. But I think there are parts of the S & P 500 that look incredibly attractive." She contends that mega-cap stocks are obscuring investment opportunities in the S & P 500 right now. "There are value opportunities, but they're right now being obscured by this sort of AI bubble."

Persons: Subramanian, We're, we've, it's Organizations: of America Securities, Big Tech

☆ 'Bite of these higher rates is gaining traction almost every day,' KBW CEO Thomas Michaud warns
▼ + stars: | 2023-06-14 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

A major financial services CEO warns the economy hasn't fully absorbed higher interest rates yet. "The bite of these higher rates is gaining traction almost every day." Michaud delivered the call hours after the Federal Reserve decided to leave interest rates unchanged. According to Michaud, the regional bank rally is a short-term bounce. He sees a shift from adjusting to the new interest rate environment to credit quality in the second half of this year.

Persons: Thomas Michaud, there's, CNBC's, " Michaud, Michaud, Banks, haven't Organizations: Federal Reserve, Regional Banking

☆ 'Price bubble' in A.I. stocks will wreck rally, economist David Rosenberg predicts
▼ + stars: | 2023-05-25 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

Economist David Rosenberg, a bear known for his contrarian views, believes enthusiasm surrounding AI has become a major distraction from recession risks. "No question that we have a price bubble," the Rosenberg Research president told CNBC's "Fast Money" on Thursday. "[This] looks very weird," said Rosenberg, who served as Merrill Lynch's chief North American economist from 2002 to 2009. Just seven mega-caps have accounted for 90% of this year's price performance," Rosenberg wrote. While mega cap tech outperforms, Rosenberg sees ominous trading activity in banks , consumer discretionary stocks and transports .

Persons: David Rosenberg, CNBC's, Rosenberg, Merrill Lynch's, Jensen Huang Organizations: Rosenberg Research, Nasdaq, Nvidia, Microsoft

☆ 'Hurricane has landed:' Activist investor Jonathan Litt doubles down on office space short
▼ + stars: | 2023-05-23 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +1 min

A major activist investor is betting stalled return-to-office plans will stir up more trouble in commercial real estate. Land and Buildings' Jonathan Litt has been shorting REITs with high office space exposure for three years, and he has no plans to shift gears. Litt first warned Wall Street an "existential hurricane" was about to hit the sector in May 2020. It's kind of like the mall business went from the mall problem to the financing problem," Litt said. "Now, it's a financing problem.

Persons: Jonathan Litt, CNBC's, Litt, JBG Smith, there's Organizations: World Health Organization Locations: Land, Washington

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