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Wall Street is sticking with semiconductor stocks after its hot start to the year. SMH YTD mountain Share performance in 2024 That said, many investors and analysts expect another strong glide path for the industry in the second half. "The AI theme continues to remain very strong," said CFRA Research analyst Angelo Zino, who holds a buy rating on Nvidia. Many on Wall Street view this upcycle as a significant tail wind for Micron Technology as the industry edges out of its trough. But many on Wall Street viewed the sell-off as a buying opportunity , with Goldman Sachs analyst Toshiya Hari expecting market share gains in high-bandwidth memory.
Persons: frothiness, Angelo Zino, you've, Ken Mahoney, John Belton, we're, Management's Paul Meeks, that's, Harlan Sur, Baird, Ted Mortonson, Jeff deGraaf, CNBC's, Gabelli's Belton, Belton, Meeks, Goldman Sachs, Toshiya Hari, Hari, CFRA, Zino, Baird's Mortonson Organizations: VanEck Semiconductor, Nvidia, Devices, CFRA, Gabelli Funds, Broadcom, JPMorgan, KLA Corp, Cadence Design Systems, Micron Technology, Micron, Qualcomm, Apple Locations: unchartered
A 15% year-to-date total return in the S & P 500 is the 21 st best run through June since 1900, according to Goldman Sachs. The S & P 500 since the October 2023 correction low is up 33% for an annualized total return pace of 56%. The S & P has gone eight sessions without a move of as much as half a percent. True in magnitude: The market-cap-weighted S & P 500 has outgained its equal-weighted version by more than ten percentage points this year. Not only haven't up days been broadly inclusive, the direction of the S & P 500 has been running inverse to the daily breadth over the past month.
Persons: Goldman Sachs, Sharpe, it's, we'd, I've, What's, Jeff deGraaf, Trump, We've, Poor's, what's Organizations: Nvidia, Walgreens, Nike, Apple, Technology, Communication Services Locations: hiccups
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 24, 2024. Stock futures were flat in overnight trading after a selloff in favored technology names brought the Nasdaq Composite to its worst day since April. During the regular session, the Dow Jones Industrial Average bucked Monday's selloff, adding nearly 261 points, or 0.67%. The S&P 500 dropped 0.31%, while the Nasdaq Composite shed 1.09% for its worst day since April as investors rotated out of semiconductors. Wall Street is looking ahead to earnings from FedEx and Carnival on Tuesday as the season nears its end.
Persons: Jeff deGraaf, CNBC's Organizations: New York Stock Exchange, Stock, Nasdaq, Dow Jones, SolarEdge Technologies, Pool Corp, Nvidia, Qualcomm, Broadcom, FedEx, Richmond Fed Locations: New York City, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe summer is historically tough for semis, says Renaissance Macro's Jeff deGraafJeff deGraaf, Renaissance Macro Research, joins 'Closing Bell' to discuss the market rotation and the headwinds for the semiconductor sector.
Persons: Jeff deGraaf Jeff deGraaf Organizations: Macro
The return of "Roaring Kitty" sparked a jaw-dropping advance in GameStop shares Monday, but such a speculative rally in an unprofitable company will likely end badly once again. Roaring Kitty, the man who inspired the meme stock mania of 2021, resurfaced online with a cryptic image showing a man in a chair leaning forward. GME 5D mountain GameStop Pachter has a underperform rating on GameStop and a $5.60 price target. At Monday's peak, GameStop hit $38.20. During 2021's mania, GameStop shares hit an all-time high of $120.75 intraday, adjusted for a subsequent 4-for-1 stock split in the summer of 2022.
Persons: Kitty, Michael Pachter, Pachter, Jeff deGraaf, he's, deGraaf, Jerome Powell, Bernstein, Mark Schilsky Organizations: GameStop, CNBC, Federal Reserve, Macro
Here's why Renaissance's Jeff Degraaf is bullish on China
  + stars: | 2024-04-29 | 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 EmailHere's why Renaissance's Jeff Degraaf is bullish on ChinaJeff deGraaf, Renaissance Macro Research chairman, joins 'Closing Bell' to discuss his market outlook and bullish attitude toward China.
Persons: Jeff Degraaf, China Jeff deGraaf Organizations: Macro Locations: China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGold still has more upside duration ahead, says Renaissance Macro's Jeff deGraafJeff deGraaf, Renaissance Macro Research chairman and CEO, joins 'Closing Bell' to discuss technicals for commodities and energy.
Persons: Jeff deGraaf Jeff deGraaf Organizations: Macro
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRoom for Nvidia's stock to consolidate and absorb momentum, says Renaissance Macro's deGraafJeff Degraaf, Renaissance Macro Research chairman and CEO, joins 'Money Movers' to discuss what deGraaf expects to happen to Nvidia's stock, if investors will have more chances to get invested in Nvidia, and more.
Persons: Jeff Degraaf Organizations: Macro, Nvidia
Nvidia 's long rally could be giving way to a consolidation period that lasts for months, according to Renaissance Macro Research chairman Jeff DeGraaf. "I think we're stalled here for Nvidia," DeGraaf said Monday on CNBC's "Money Movers ." This combination of a big rally plus elevated trading activity suggests that the stock is overheated, according to DeGraaf. The stock was trading near the $870 level on Monday. This period could take three to six months, DeGraaf said, and he compared it to a brief slump Nvidia had last summer.
Persons: Jeff DeGraaf, DeGraaf, It's Organizations: Nvidia, Macro
Move on from Apple, tactically: Renaissance Macro Research CEO
  + stars: | 2024-03-04 | 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 EmailMove on from Apple, tactically: Renaissance Macro Research CEOJeff deGraaf, Renaissance Macro Research chairman and CEO, joins 'Closing Bell' to discuss watching the market for momentum exhaustion.
Persons: Jeff deGraaf Organizations: Apple, Macro
.SPX YTD mountain S & P 500, YTD As for the "too far, too fast" argument, it's worth recalling that all the S & P 500 has done is nearly complete an almost-symmetrical two-year round trip. Ned Davis Research U.S. strategist Ed Clissold looked back at prior times the S & P 500 has gone more than a year without making a record high. This is always a tricky proposition – cash that leaves money markets to buy stocks leaves the seller of the stocks with cash. For one thing, $6 trillion is only about 12% of total U.S. equity market cap, near the lower end of its historical range. At the 2009 market low money markets were 50% of equity market cap.
Persons: , we've, Jason Goepfert, Jeff deGraaf, Ned Davis, Ed Clissold, Jerome Powell, it's, Cash Organizations: Federal Reserve, Fed, Timely, National Association of Active Investment, Ned Davis Research, Investment, of
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRenaissance Macro's Jeff deGraaf gives the technical take for 2024Jeff deGraaf, Renaissance Macro Research chairman, joins 'Closing Bell' to discuss the market setup and the technicals he's seeing.
Persons: Jeff deGraaf Organizations: Macro
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFocus on the trend of price not of breadth, says Renaissance's Jeff DeGraafJeff DeGraaf, Renaissance Macro Research, joins 'Closing Bell' to discuss his year-end level expectation, Disney and market trends.
Persons: Jeff DeGraaf Jeff DeGraaf Organizations: Macro
If the two cross over, it would form the dreaded "death cross," which can indicate that momentum is weakening or sentiment is souring — and more downside could be on the horizon. It would be the first death cross for the average since late 2022. 'Something bad could happen' The threat of a death cross also underscores challenges specific to the Dow this year. Oppenheimer managing director Ari Wald advised investors to stay away from indexes near or at the death cross like the Dow or the Russell 2000 . Ultimately, technical analysts argue the death cross is both an important yet flawed measure.
Persons: Todd Walsh, Jeff deGraaf, That's, deGraaf, John Kolovos, Dow, Kolovos, Alpha Cubed's Walsh, Oppenheimer, Ari Wald, Russell Organizations: Dow Jones, Dow, Alpha Cubed Investments, Macro, Nasdaq, Federal Reserve
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRenaissance's Jeff Degraaf explains why he's bullish on the marketJeff DeGraaf, Renaissance Macro Research Chairman, joins 'Closing Bell Overtime' to break down the current market and why he has pivoted to a bullish stance.
Persons: Jeff Degraaf, Jeff DeGraaf Organizations: Macro
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEnergy remains the cheapest sector in the market: Renaissance Macro's Jeff DeGraafJeff DeGraaf, Renaissance Macro chairman, joins 'Closing Bell' to discuss his bull case for energy.
Persons: Jeff DeGraaf Jeff DeGraaf Organizations: Email Energy
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe easy money phase of this rally is probably behind us, says Renaissance Macro's Jeff deGraafJeff deGraaf, Renaissance Macro Research chairman, joins 'Squawk on the Street' to discuss the overall equity markets, whether the markets will continue to broaden their rally, and more.
Persons: Jeff deGraaf Jeff deGraaf Organizations: Macro
U.S. S&P 500 futures inched lower on Tuesday night. S&P 500 futures and Nasdaq 100 futures dipped 0.16% and 0.37%, respectively. Meanwhile, the S&P 500 and the Nasdaq Composite jumped more than 1% each, buoyed by a resurgence in tech stocks after last week's selloff. Federal Reserve Chairman Jerome Powell speaks Wednesday morning before a policy panel at the European Central Bank Forum on Central Banking in Sintra, Portugal. Powell will be joined by Bank of England Governor Andrew Bailey, European Central Bank President Christine Lagarde and Bank of Japan Governor Kazuo Ueda.
Persons: selloff, Jeff deGraaf, deGraaf, Jerome Powell, CNBC's Sara Eisen, Powell, Andrew Bailey, Christine Lagarde, Kazuo Ueda, Jeff Cox Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, Dow Jones, Investors, Macro, Federal, European Central Bank, Central Banking, Bank of England, Bank of Japan Locations: New York City ., Sintra , Portugal
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRenaissance Macro's Jeff deGraaf is bullish on the market but still bearish on bankingJeff deGraaf, Renaissance Macro Research chairman, joins 'Closing Bell' to discuss whether he believes the market is overbought or undervalued.
Persons: Jeff deGraaf Organizations: Macro
.SPX YTD mountain S & P 500 this year Yet with it all, the S & P 500 managed three closes in a week above the 4200 level deemed by most to be the top of its range, before jumping 1.5% Friday to finish at 4282 – just half a percent below its August peak closing value. S & P 500 poised to break out The trip to 4300 today comes under quite different, and less malign, conditions. Back then there was still nearly 300 basis points of Fed tightening ahead of us and earnings forecasts were dropping fast. Even at the August stock-index highs, the CBOE S & P 500 Volatility Index was scarcely able to drop below 20 – typically a floor during bear markets. In the near term, the S & P 500 looks a bit stretched, the index pushing well above its trend channel – a sign both of respectable strength and temporary overheating.
Persons: , Jerome Powell, Russell, Jeff DeGraaf, it's, Let's Organizations: Federal, Treasury, Fed, Renaissance Macro Locations: U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRenaissance's Jeff deGraaf weighs in on the believability of the market rallyJeff deGraaf, Renaissance Macro Group, joins 'Closing Bell' to discuss whether investors should believe in the rally or not.
Persons: Jeff deGraaf Organizations: Macro
After Friday's 0.8% lift, the S & P 500 is just a sliver below its Feb. 2 year-to-date high. .SPX YTD mountain S & P 500 YTD The same dynamic is happening at the sector level, too. JP Morgan this year is outperforming the equal-weighted S & P 500 financials by 13 percentage points. "While breadth is bad, the S & P 500 is actually one of the weakest indices in the G7," he says. By the way, the top-heaviness of the index also extends to valuation: The equal-weighted S & P 500 is nearer to 15-times earnings.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Bears might have it completely wrong' on recession outlook, says Renaissance's Jeff DeGraafJeff DeGraaf, Renaissance Macro Research, and Ed Clissold, Ned Davis Research, join 'Closing Bell' to discuss the domestic and global markets, recession fears, and a potential bull market.
Some under-the-radar health-care stocks are unlikely attractive picks, according to Renaissance Macro Research chairman Jeff deGraaf. "From a cyclical standpoint even within the health-care sector, they're starting to break out." DeGraaf listed Stryker , Bruker and Boston Scientific as "good looking, long-term charts" thanks to both their discretionary spend and chart cyclicality within the health-care space. BRKR YTD mountain Healthcare equipment stocks are some of the most attractive picks in the overall sector, according to Renaissance Macro Research chief Jeff DeGraaf. Health-care stocks are often touted as defensive investments during economic turmoil and recessions thanks to their predictable earnings and steady consumer growth.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPeople aren't listening closely enough to the market's message: Renaissance Macro's deGraafJeff deGraaf, Renaissance Macro Research chairman, joins 'Squawk on the Street' to discuss the charts guiding deGraaf's investing thesis, deGraaf's thoughts on the healthcare sector and the current relationship between stocks and bonds.
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