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The new market theory was that investors would sell some of their high-flying technology winners and buy small cap laggards primed for a comeback when the Federal Reserve begins cutting rates. But on Thursday, the tech-heavy Nasdaq Composite lost more than 2% , and the Russell 2000 small-cap benchmark lost even more. "If you look in small caps, they don't have their earnings follow through. The senior global market strategist said he's unfavorable on small caps as the stocks lack strong fundamentals and many fail to generate a profit. The Russell 2000 Index of small-cap stocks gained 10.10% in July, posted its best monthly performance since December 2023, when it gained 12.05%.
Persons: Russell, Phillip Colmar, Sameer Samana, it's Organizations: Federal Reserve, Nasdaq, Partners, Wells Locations: Colmar, Wells Fargo, Samana
CNBC's Jim Cramer examined Thursday's market action, attributing the day's brutal sell-off to the Federal Reserve's decision to hold rates steady instead of making a cut. "To me, today's terrible action in stocks was a function of the Fed not cutting rates yesterday," he said. Although Fed Chair Jerome Powell indicated a rate cut was "on the table" in September, many on Wall Street feared that would be too late. The "soft economy" is new, he added, saying last year at this time Wall Street criticized the Fed for being unable to tame inflation. "I have better things to do with my time than lambaste a Fed chief for conceivably letting the economy wither for seven more weeks," Cramer said.
Persons: CNBC's Jim Cramer, they've, Jerome Powell, Russell, Cramer, lambaste, Powell Organizations: Federal, Wall, Investors, Dow Jones, Nasdaq, Treasury, Fed
CFRA Research sees more upside for the benchmark S & P 500 over the next 12 months, even if the risk of near-term profit taking looms. The higher forecast implies a year-end target of 5,770 for the S & P 500, or a 4.5% uptick from Wednesday's close for the benchmark. Stovall's previous year-end S & P 500 target called for 4,940. A combination of more stable supply-and-demand dynamics coupled with a widening of market gains supports the more bullish outlook, CFRA said. The S & P 500 has a roughly 14% gain this year, compared to the Nasdaq Composite's roughly 15% advance.
Persons: Sam Stovall, Evercore's Julian Emanuel, CFRA, Russell Organizations: Research, Federal Reserve, Nasdaq Locations: Wednesday's
With the second half of the year underway, there are three trades that investors should make sure they're on the right side of, Bank of America says. Bank of America expects earnings of the remaining 493 S & P 500 companies to accelerate into the end of the year. Bank of America identified avoiding dividend-paying stocks as another pain trade for later this year. Bank of America also notes that more than 200 S & P stocks currently provide higher real return potential than the 2% offered by the 10-year Treasury . The SPDR Portfolio S & P 500 High Dividend ETF (SPYD) has surged 10% year to date and more than 7% in the past month.
Persons: CNBC's, Russell, Savita Subramanian, Subramanian Organizations: Bank of America, Bank of, Big Tech, of America, Federal Reserve, Nasdaq
When it comes to investing in sectors such as financials and energy under Trump, Bianco believes that size matters. A Harris presidency would benefit the renewable energy industry, according to Amanda Rebello, head of Xtrackers ETF sales at DWS. That's primarily because a Harris presidency would result in more stringent fiscal policy than a Trump one. The national debt is also likely to rise faster under a Trump presidency compared to a Harris one. AdvertisementInvestors can prepare for a Harris presidency by adding fixed income assets such as US 10-year Treasury notes to their portfolios.
Persons: , David Bianco, Harris, it's, He's, Bianco, Trump, Russell, REITs There's, Amanda Rebello, That's, he's, REITs, iShares Cohen Organizations: Service, Trump, Business, Republican, DWS Group, Republican National Convention, Big Pharma, VanEck Pharmaceutical, Vanguard, Energy, Democratic, Fed, Harris, Real, Investment, Battery Tech, Clean Energy, Schwab, Steers, ETF Locations: Big, Harris ' California
With just under 100 days until Election Day, several small-cap and midcap names could get a huge boost if former President Donald Trump wins, according to Jefferies. This could mean a boost for companies, especially smaller ones, as deregulation would reduce costs involved with compliance. Here are some "smidcap" stocks that the firm sees as poised for a lift from a second Trump term: Live Nation shares could stand to get a boost from a Trump win. The stock is up more than 6% over the past three months, and Jefferies sees more room for the stock to run. Jefferies sees even more upside for SoFi Technologies , which also made the list.
Persons: Donald Trump, Jefferies, Trump, Russell, Taylor Swift's Organizations: Trump, U.S . Department of Justice, DOJ, Republican, Technologies
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While we are getting a tech rally Wednesday thanks to Advanced Micro Devices (up 7%), this is the month when rotation became more than a one day event. Since small-cap companies often have more debt and higher borrowing costs, the expectation of lower rates is certainly a factor. I noted weeks ago that more fundamentally inclined investors were worried about the slower rate of earnings growth for big cap technology stocks . The Russell 2000 would also benefit any time a rotation out of tech occurs because the weightings are different. While the two sectors that comprise technology in the S & P 500 (Technology and Communication Services) are about 40% of the S & P 500, the Russell 2000 is much more diverse.
Persons: Consumer Staples, Russell Organizations: Micro Devices, Energy, Health Care, Consumer, Communication Services, Care Locations: Banks
Don’t Tell My Friends, But… is a seriesin which we asked Times columnistswhateveryone else is wrong about. The two concepts are so distinct within Christianity that they have different names — orthodoxy (right belief) and orthopraxy (right conduct). Right conduct should flow from right belief. The person who prioritizes orthodoxy says, “Hear my voice.” The person who prioritizes orthopraxy says, “Watch my life,” and the competing emphases can play out in concrete political ways. By contrast, the person who prioritizes orthopraxy has the opposite inclination.
Persons: Let’s, sears, , Donald Trump, They’re, orthopraxy, Robert Morris, United States —, Morris, Sybil Jordan Hampton, wouldn’t, Russell Moore’s, Moore, It’s, Paul Organizations: Southern Baptist Convention, Gateway, Evangelical America Locations: Southern, orthopraxy, Christianity, United States, Louisiana, Kentucky, Little Rock, Ireland
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. 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. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.
Persons: Jim Cramer, Russell, there's, Jerome Powell, Powell, Eaton, Becton Dickinson, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Club, Nvidia, Federal Reserve, Microsoft, Arm Holdings, Qualcomm, Lam Research, Western, eBay, MGM Resorts, ConocoPhillips, Dominion Energy, Air Products, Chemicals, Jim Cramer's Charitable Locations: Hershey, Biogen
Greg Davis, the firm's president and CIO, told CNBC's Bob Pisani that the small-cap rebound makes sense from a valuation standpoint and could keep going. "Small caps, to us, still look relatively cheap — relative to some of the large-cap alternatives that are out there," Davis said. The small-cap Russell 2000 is up nearly 10% in July, while the S & P 500 is flat and the Nasdaq Composite is down 2%. Small-cap value , in particular, has outperformed, including the Vanguard Russell 2000 Value ETF (VTWV) , which is up 11.9%. The small-cap rally comes after this bull market was mainly led by a handful of Big Tech stocks, including Nvidia and Microsoft .
Persons: Greg Davis, CNBC's Bob Pisani, Davis, Russell, Vanguard Russell, it's, Jack Bogle, Salim Ramji Organizations: Vanguard, Nasdaq, Big Tech, Nvidia, Microsoft, BlackRock
The rally in small-cap stocks is set to continue after a bullish signal flashed for the first time since 2009, Fundstrat says. The Dallas Manufacturing Survey shows a sharp spread between current and forward expectations. Such spreads have historically preceded significant moves in small-cap stocks, Fundstrat's Tom Lee said. AdvertisementThe July rally in small-cap stocks is set to continue after a bullish signal flashed for the first time since 2009, according to Fundstrat's Tom Lee. Much of Lee's bullishness on small-cap stocks is based on compelling valuations, falling inflation, and the expectation of interest rate cuts later this year.
Persons: Fundstrat, Tom Lee, , Lee, you've Organizations: Dallas Manufacturing Survey, Service Locations: Dallas, Lee's
S&P 500 futures are near flat Tuesday night as investors parsed the latest earnings reports and readied for the Federal Reserve monetary policy decision coming Wednesday afternoon. Futures tied to the broad index lost 0.1%, while Nasdaq 100 futures ticked higher by 0.2%. Fed funds futures are pricing in a strong likelihood that central bankers will keep rates steady at the 5.25% to 5.5% range, according to CME's FedWatch Tool. The S&P 500 and Nasdaq are tracking to end July down 0.4% and 3.3%, respectively. The Dow and Russell 2000 are slated to finish the month higher by more than 4% and 9%, respectively.
Persons: Dow, Russell, Jerome Powell, CME's, Powell, Bryce Doty Organizations: New York Stock Exchange, Federal Reserve, Nasdaq, Dow Jones, Microsoft, Sit Investment, Fed, Boeing, Albemarle, Qualcomm, Etsy
Fundstrat's Tom Lee is out with his next eye-popping prediction — and it implies good news for the market in the coming days. "In short, we see a risk-on rally starting Wed that could add +100 points to the S & P 500," he told clients. Lee said investors should expect a gain of at least 6% for small caps during this run alone. "We still see this as the 'summer of small caps' so our preference is to be buying," he said. A rise of 5% would propel the S & P 500 to a new all-time intraday high, topping the record set earlier this month.
Persons: Fundstrat's Tom Lee, Lee, Russell, CME's Organizations: Federal Reserve
It reports earnings this week and traders are expecting a monster move. Customers can browse a large inventory of used vehicles on Carvana's website, complete with detailed photos, 360-degree views, and vehicle history reports. Their model eliminates most of the negative associations of used car dealers by offering convenience, transparency, and a hassle-free car buying experience without the used car salesman. The company's stock fell more than 80% from February 2020 in the pandemic plunge before rallying 1600% on record used car margins caused by supply constraints due to pandemic shutdowns. CVNA YTD mountain Carvana (YTD) Carvana will report earnings this coming Wednesday after the bell and the 18% earnings-related implied move ranks near the top of the Russell 1000 companies regarding earnings volatility.
Persons: Carvana, Russell, I'm Organizations: Carvana, Machines, CNBC, NBC UNIVERSAL
CNBC's Jim Cramer said Monday the recent reshuffling on Wall Street is about more than a resurgence in small-cap stocks. "This market is not experiencing a smallcap rally, it's experiencing a rally in everything else but the tech titans. Cramer suggested the market isn't being led solely by a few smaller-cap companies that are performing well. Instead, he said, large institutions may be buying poor quality small stocks "as part of a larger basket" with indexes like the Russell 2000 or the S&P Small Cap 600. There are also larger companies that have seen huge gains recently as part of the market broadening, he said, such as McDonald's .
Persons: CNBC's Jim Cramer, Cramer, Russell, Wall, McDonald's Organizations: titans
According to Bank of America, the most recent market pullback is a symptom of a "buffalo" market. Related stories"A buffalo market is still in the bull family," McGregor said. She expects that the buffalo market will roam around this summer before stabilizing into a bull market later this year. "We're expecting this earnings growth story to broaden beyond the Magnificent Seven in tech in the coming quarters." Bank of America believes small-caps could lead the stock market for the next ten years if interest rates come down and remain favorable.
Persons: , Marci McGregor, we've, McGregor, We're, Russell Organizations: Service, Nasdaq, Bank of America, Business, Energy, Vanguard Health Care Locations: Buffalo
NEW YORK AP —Tucked within the expansive Native American halls of the American Museum of Natural History is a diminutive wooden doll that holds a sacred place among the tribes whose territories once included Manhattan. The doll, also called Nahneetis, is just one of some 1,800 items museum officials say they’re reviewing as they work to comply with the requirements while also eyeing a broader overhaul of the more than half-century-old exhibits. We need them close.”Sean Decatur, the New York museum’s president, promised tribes will hear from officials soon. The American Museum of Natural History, he noted, is one of New York’s major tourism draws and also a mainstay for generations of area students learning about the region’s tribes. He suggests museums use replicas made by Native peoples so that sensitive cultural items aren’t physically on display.
Persons: , Joe Baker, ” Sean Decatur, Lance Gumbs, ” Gumbs, “ There’s, ” Gordon Yellowman, ” Yellowman, , Bridgette Russell, Todd Mesek, Nicole Rura, Chuck Hoskin, Baker, ” Baker Organizations: American Museum of, American, Protection, Lenape, York, Eastern, Northwest Coast Hall, Cheyenne, Arapaho Tribes, New, Field, Repatriation, Cleveland Museum, Harvard, Peabody Museum’s, Cherokee Nation, Peabody, Cherokees, Delaware Nation Locations: Manhattan, Delaware, Eastern Woodlands, Great, Decatur, New, Oklahoma, New York, Nebraska, Chicago, America, Ohio, Alaska, American, , Ontario
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. 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. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.
Persons: Jim Cramer, There's, Nvidia —, Russell, Dow, Robert Ford, Abbott, we're, Stanley Black, Decker, Elliott, Jim Cramer's, Jim Organizations: CNBC, Microsoft, Nvidia, Nasdaq, Abbott Laboratories, Honeywell, Bloomberg, Quantinuum, Procter & Gamble, Stanley, Devices, Starbucks, Elliott Management, Jim Cramer's Charitable
Stock futures rose modestly on Sunday evening as Wall Street gears up for a busy week of corporate earnings. S&P 500 futures gained 0.2%, while Nasdaq 100 futures added 0.3%. The move in futures comes after a volatile week in the stock market. This week's earnings slate will play a role in determining whether tech stocks can now bounce back. Another key event this week will be the Federal Reserve meeting, with the central bank set to release a new policy statement on Wednesday.
Persons: Russell, it's, Callie Cox Organizations: Dow Jones, Nasdaq, Dow, Ritholtz Wealth Management, Microsoft, Meta, Apple, Federal Reserve
That will be the case in this jam-packed week , with the earnings from Microsoft on Tuesday, Meta Platforms on Wednesday, and Apple and Amazon on Thursday. If Alphabet said it cut back on data-center spending, then it would be alleged the company is falling behind Amazon and Microsoft in the AI race. The company also is now dogged by another competitor in search engines after ChatGPT creator OpenAI announced a prototype of SearchGPT . Apple reports on Thursday, and if you think the cloud-computing heavyweights are spending on too much AI, then you should be buying Apple. President Joe Biden always chose to have his agencies wear down tech companies.
Persons: Don Forst, There's, hadn't, OpenAI, Tesla, Elon Musk, , Russell, Mark Zuckerberg, Nvidia's Jensen Huang, It's, Zuckerberg, EssilorLuxottica —, EssilorLuxottica, Andy Jassy, Stanley Black, Decker, it's, Kamala Harris, Tony West, Joe Biden, Harris, Biden, Biden couldn't, Gina Raimondo, Raimondo, Donald Trump, Sen, JD Vance, Vance, Trump, Xi Jinping's, Abbott, Jim Cramer's, ABT, Jim Cramer, Jim, Sebastien Bozon Organizations: Los Angeles Herald Examiner, Microsoft, Apple, Google, YouTube, Amazon, Nvidia, Siggraph, Federal Reserve, Mohawk Industries, Fortune Brands, Club, Democratic, Uber Technologies, titans, Department of Justice, Federal Trade Commission, Department of Commerce, Republican, Big Tech, Republican Party, Trump, Abbott Laboratories, Drug Administration, CNBC, AFP, Getty Locations: Los Angeles, Denver, Ray, California, U.S, Ohio, Taiwan, St, Louis , Missouri
When they bought their organic vegetable farm in South Royalton, Vt., slung along the fertile floodplain of the White River, Ashley Loehr and Antoine Guerlain took comfort in the dense buffer of shrubs and trees that lay between their fields and the gently swirling water. It was 2021, a decade after the remnants of Hurricane Irene drove the river far over its banks, swamping the farm and wide swaths of the state. Determined to prevent another such disaster, the prior owner had proactively planted the trees, imagining a rising wall of woods that would at least make future flooding less grievous. There was no way to know if the barrier, 35 feet wide, would be enough — until last July, when another devastating storm surged across Vermont. The river gathered force and busted through, again overtaking fields and destroying crops.
Persons: Ashley Loehr, Antoine Guerlain, Hurricane Irene Locations: South Royalton, Vt, Vermont
Katie Ledecky: The rise of an Olympic great
  + stars: | 2024-07-27 | by ( Aimee Lewis | ) edition.cnn.com   time to read: +22 min
The teenager who achieved the unthinkableIn the dining hall of London’s Olympic Village, a few hours before her first Olympic final, Ledecky is eating lunch on her own. Katie Ledecky poses on the podium after winning gold in the women's 800m freestyle final at the London 2012 Olympics. Katie Ledecky and her mother Mary Gen Ledecky during the 2023 Golden Goggle Awards on November 19, 2023 in Los Angeles, California. Katie Ledecky swimming to gold in a new world record of 15.25:48 in the women's 1500m freestyle final on August 4, 2015 in Kazan, Russia. Katie Ledecky celebates after she broke the world record to win the women's 800m freestyle final at the Rio 2016 Olympic Games.
Persons: Michael Ledecky, Katie, hasn’t, , , Katie Ledecky, ” Michael Ledecky, Sarah Stier, ” Russell Mark, George, , that’s, Prince William, Catherine, Rebecca Adlington, Lotte Friis, Little, ” Prince William, Adam Pretty, Adlington, Ledecky, Becky, Michael, musing, Fabrice Coffrini, ’ ”, hadn’t, Al Bello, athletically, Michael Phelps, ” Bruce Gemmell, didn’t, Gemmell, Bruce Gemmell, Joe Scarnici, she’s, Michael Jordan, ” ‘, Mark, ” Gemmell, “ It’s, Mary Gen Ledecky, Kevork Djansezian, David, Mary Gen, Jon, Streeter Lecka, Edward Hagan, Kathleen, Berta, Albert Einstein, Jaromir “ Jerry ” Ledecky, d’état, doesn’t, Yuri Suguiyama, Michael Phelps ’, Andrew Nesty, ominously, ” Ledecky, “ She’s, Rushmore, She’s, Joe Biden, Katie Ledecky celebates, Odd Andersen, Ariarne Titmus, Summer McIntosh, wasn’t, It’s Organizations: CNN, Ivy League, CNN Sport, Antonio, London Aquatics Centre, Briton, Games, Getty, London Games, Olympic, London, Phillips, New York Islanders, Harvard, Stanford, Silver Star, Polytechnic Institute of Brooklyn, Rutgers, Tokyo Olympics, Rio Games, Rio Locations: San Antonio , Texas, Bethesda , Maryland, USA, AFP, Irvine , California, American, Maryland, Los Angeles , California, Harvard, Tokyo, Kazan, Russia, Woolaston , North Dakota, America, Czechoslovakia, New York, eureka, Gainesville , Florida, Paris, Indianapolis
As for Club earnings, we got positive results from life sciences company Danaher and industrial firm Dover. Ford was a major disappointment and its nearly 20% stock drop for the week was the worst performer in the portfolio. In the week ahead, it's going to be another big week of earnings with the four mega-cap names and 10 other Club names set to report. Linde : We're looking for more of the same — steady earnings growth; 6% is the Street estimate. End market commentary will also help us better formulate our view of the economy — and in turn the stock market.
Persons: Russell, Jerome Powell's, Ford, Stanley Black, Decker, We're, we'll, Elliott, we've, We'll, Kraft Heinz, Vita Coco, COCO, Lam, SIRI, WEN, Jim Cramer's, Jim Cramer, Jim, Michael M Organizations: Nasdaq, Dow, Communication, Honeywell, YouTube, Procter & Gamble, Devices, Microsoft, Starbucks, GE Healthcare, DuPont, Meta, Apple, Coterra Energy, Linde, Silo AI, Elliott Management, GE HealthCare, Amazon, Apple Intelligence, U.S, Labor, Fed, Networks, Procter, Gamble, PayPal, Pfizer, BP, JetBlue Airways, Merck, Solar Inc, Caesars Entertainment, Electronic Arts, EA, Nation Entertainment, Boeing, Cruise, Mastercard, Teva Pharmaceutical, Hess Corp, Arm Holdings, Qualcomm, Lam Research, Western, eBay, EBAY, MGM Resorts, MGM, ConocoPhillips, Mobileye, Canada Goose Holdings, Hershey, Toyota, Dominion Energy, Air Products & Chemicals, Southern Company, International, Coterra Energy Intel, Coinbase, Booking Holdings, LIN, Exxon Mobil, Chevron, LyondellBasell Industries, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Santiago, Getty Locations: Dover, Eaton, Amazon, China, destocking, Corning, New York City
Customers who want pizzas delivered have different priorities from those who want carryout, he said. 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 . "Our carryout business is on fire," CEO Russell Weiner told Business Insider in an interview. This story is available exclusively to Business Insider subscribers.
Persons: Uber, Domino's, , Russell Weiner Organizations: Service, Business
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