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☆ 'Cloud, cars, complexity' are three C's to focus on in chips sector, says BofA’s Vivek Arya
▼ + stars: | 2023-07-05 | 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 Email'Cloud, cars, complexity' are three C's to focus on in chips sector, says BofA’s Vivek AryaVivek Arya, Bank of America Global Research senior semiconductors analyst, joins 'Squawk Box' to discuss the semiconductor industry, where to make key investments in the sector, and more.

Persons: BofA’s Vivek Arya Vivek Arya Organizations: Bank of America Global Research

The growth in bookings is largely driven by pent-up demand from loyal customers returning to taking summer vacations and other leisure travel, said the analysts. JPMorgan upgraded Carnival shares to "overweight", while Bank of America raised its rating on the stock to "buy", and the analysts raised their price targets on all the three cruise companies. Carnival shares rose 14% to a more than 1-year high in early trading on Monday while Norwegian Cruise gained nearly 8%. The S&P 500 Hotels Resorts & Cruise Lines Sub-Industry Index was up 0.9% led by gains in cruise stocks. Commercial airline shares were also making gains on Monday amid falling crude oil prices and growth in demand for seats.

Persons: Chibuike Oguh, Granth Vanaik, Stephen Culp, Lance Tupper, David Gregorio Our Organizations: YORK, Carnival Corp, Cruise Line Holdings, JPMorgan, Bank of America Global Research, Carnival, Royal Caribbean Cruises, Bank of America, Norwegian Cruise, Royal, Hotels Resorts, Cruise, Southwest Airlines, Hawaiian Holdings, American Airlines, Thomson Locations: Royal Caribbean, New York

☆ Oil edges lower ahead of Fed meeting
▼ + stars: | 2023-06-12 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

SINGAPORE, June 12 (Reuters) - Oil prices edged lower on Monday ahead of a Federal Reserve meeting as investors try to gauge the central bank's appetite for further rate hikes, while concerns about China's fuel demand growth and rising Russian crude supply weighed on the market. U.S. West Texas Intermediate (WTI) crude was at $69.93 a barrel, down 24 cents, or 0.3%. "The bearish allocators will maintain the upper hand for now, as oil prices struggle to rally until the Fed eases money supply," Blanch said. Goldman Sachs cut its oil price forecasts on higher-than-expected supplies from Russia and Iran and raised 2024 supply forecasts for the two producers and Venezuela by a total 800,000 bpd. The bank's December crude price forecast now stands at $86 a barrel for Brent, down from $95, and at $81 a barrel for WTI, down from $89.

Persons: Francisco Blanch, Blanch, Brent, Saudi Arabia's, Goldman Sachs, Florence Tan, Tom Hogue Organizations: Reserve, Brent, . West Texas, Bank of America Global, Saudi, Thomson Locations: SINGAPORE, China, Saudi Arabia, 2H23, U.S, India, Russia, Iran, Venezuela

☆ Bank of Japan may be being 'purposefully' conservative in its inflation forecast, economist says
▼ + stars: | 2023-06-01 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank of Japan may be being 'purposefully' conservative in its inflation forecast, economist saysIzumi Devalier of Bank of America Global Research says the Bank of Japan probably "doesn't want a situation where markets anticipate monetary policy normalization."

Persons: Izumi Devalier Organizations: Email Bank of Japan, Bank of America Global Research, Bank of Locations: Bank of Japan

☆ BofA says AI is in a 'baby bubble' that echoes the dot-com era, and one move could easily blow up the investment frenzy ignited by ChatGPT
▼ + stars: | 2023-05-20 | by ( Carla Mozée | ) www.businessinsider.com time to read: +4 min

What could burst the bubble is the Fed pausing rate hikes and then restarting the cycle. AI is in a "baby bubble" for now, Michael Hartnett, chief investment strategist at Bank of America Global Research, wrote on Friday. The Fed may be on the way to pausing its run of rate hikes at its June 14 gathering. The dot-com bubble popped nine months later. "AI = internet," wrote Hartnett.

Wall Street's main indexes climbed to session highs by early afternoon trading as shares of Tesla Inc (TSLA.O) extended gains to rise 3.9% after its annual shareholder meeting on Tuesday. U.S. regional banks rose, led by a 14.0% rise in Western Alliance Bancorp (WAL.N) as the lender's deposit growth exceeded $2 billion and brokerage Bank of America Global Research resumed coverage of the bank with a "buy" rating. The KBW Regional Banking Index (.KRX) jumped 5.4% after losing 1.8% in the previous session, while S&P 500 banks (.SPXBK) added 3.4%. The S&P 500 retail index (.SPXRT) rose 1.3%. The S&P index recorded 12 new 52-week highs and 14 new lows, while the Nasdaq recorded 46 new highs and 99 new lows.

Shares of U.S. regional banks rose, led by a 12.6% rise in Western Alliance Bancorp (WAL.N) as the lender's deposit growth exceeded $2 billion and brokerage Bank of America Global Research resumed coverage of the bank with a "buy" rating. The KBW Regional Banking Index (.KRX) rose 3.1% after losing 1.8% in the previous session, while S&P 500 banks (.SPXBK) added 2.4%. "Cautious optimism expressed from both President Biden and Speaker (Kevin) McCarthy about the progress of the debt talks has made people feel a little bit better," said Michael James, managing director of equity trading at Wedbush Securities. Retailers Target Corp(TGT.N) and TJX Companies Inc (TJX.N) forecast current-quarter profit below expectations despite beating estimates for the first quarter. Advancing issues outnumbered decliners by a 2.69-to-1 ratio on the NYSE and by a 1.39-to-1 ratio on the Nasdaq.

Shares of U.S. regional banks rose, led by a 11.6% premarket rise in Western Alliance Bancorp (WAL.N) as the lender's deposit growth exceeded $2 billion and brokerage Bank of America Global Research resumed coverage of the bank with a "buy" rating. U.S. President Joe Biden will continue talks with congressional leaders on the debt ceiling later this week, the White House said one day after an hour-long meeting seen as productive. "Cautious optimism expressed from both President (Joe) Biden and Speaker (Kevin) McCarthy about the progress of the debt talks has made people feel a little bit better," said Michael James, managing director of equity trading at Wedbush Securities. Target Corp(TGT.N) edged 0.4% higher in choppy trading after the retailer beat first-quarter profit expectations but forecast current-quarter profit below expectations. ET, Dow e-minis were up 129 points, or 0.39%, S&P 500 e-minis were up 13 points, or 0.32%, and Nasdaq 100 e-minis were up 18.5 points, or 0.14%.

☆ US regional bank shares jump on Western Alliance deposits growth
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +1 min

May 17 (Reuters) - Shares of U.S. regional lenders climbed premarket on Wednesday, looking to break out of range-bound trading as an update on Western Alliance Bancorp's (WAL.N) deposit levels soothed concerns that the U.S. banking crisis was getting worse. Western Alliance shares shot up 11% to $35.18, on course to erase losses recorded over the last two weeks if gains hold. Western Alliance and other regional lenders have seen their stock valuations battered by worries around a broader crisis and funding costs, with consumers moving money into bigger banks after three mid-sized U.S. lenders collapsed in the last two months. The bank's shares have seesawed in the last few sessions, rallying nearly 18% on Monday only to give back those gains a day later. Shares of Comerica Inc (CMA.N), Zions Bancorp (ZION.O) and KeyCorp (KEY.N) were also up between 1.3% and 3.5%.

Berkshire acquired 9.92 million shares in Capital One, a stake worth $954 million based on the closing price on March 31, regulatory filings showed on Monday. The bank's shares have shed around 15% since early March as the banking crisis has clobbered shares of U.S. regional lenders. Silicon Valley Bank, Signature Bank, and First Republic Bank are the three banks that have so far collapsed during the current crisis. The KBW Regional Banking Index (.KRX) fell 0.38%. Fed Vice Chair for Supervision Michael Barr said the central bank was "carefully considering" rule changes for larger regional banks, including requiring them to account for unrealized losses on their banks when considering capital levels.

While the Dow Jones Industrial Average 's year-to-date move into the red on Thursday may signal more choppy, range-bound trading ahead, technical analysts say they don't think it's an omen for new multi-year lows. Chart experts say the closely followed blue-chip Dow Jones average could test long-term moving averages. .DJI YTD mountain The Dow Failing to hold above its 200-day moving average of 32,707 could mean more downside ahead for the 30-stock average, said JC O'Hara, chief technical strategist at Roth MKM. "On average the stocks have an aggregated [earnings] surprise of nearly +10%, but the stocks are not being rewarded," O'Hara said of earnings season for Dow stocks thus far. Now, the Dow is the only one of the three in the red on the year as investors favor growth stocks over value.

☆ Investors should sell the S&P 500 above this key level as earnings defy expectations but 'economic ambiguity' persists, Bank of America says
▼ + stars: | 2023-04-28 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Sell the S&P 500 when it rises above 4,200, Bank of America's chief stock strategist said Friday. "We stay bearish" as the US economy looks set to end 2023 with stress in the labor market and weak earnings. The S&P 500 was edging toward logging a 20% gain from its bear-market low. He reiterated his call to sell the S&P 500 above 4,200 — less than 0.1% from the current level — in part as stocks are pricing in a decline of "just" 4% in per-share corporate earnings. It said 76% of S&P 500 companies that posted results had outstripped Wall Street's targets.

☆ The market going into summer could be volatile, says BofA's Jill Carey Hall
▼ + stars: | 2023-04-26 | 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 EmailThe market going into summer could be volatile, says BofA's Jill Carey HallJill Carey Hall, Head of Small and Mid-Cap Strategy at Bank of America Global Research, joins 'Squawk Box' to discuss the earnings season so far, and her market outlook for the rest of the year.

☆ Stock Pickers Failed to Take Part in First-Quarter Rally
▼ + stars: | 2023-04-10 | by ( Vicky Ge Huang | ) www.wsj.com time to read: 1 min

Apple is one of three companies that helped drive the S&P 500’s returns in the first quarter. Stock pickers missed out on the first-quarter rally, failing to extend their recent winning streak. Only one in three actively managed large-cap mutual funds beat their benchmarks in the first three months of the year, the worst performance since the three-month period ended December 2020, according to data from Bank of America Global Research.

☆ Inflation looks hard to pull down amid fast wage growth, says BNP's Yelena Shulyatyeva
▼ + stars: | 2023-03-31 | 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 EmailInflation looks hard to pull down amid fast wage growth, says BNP's Yelena ShulyatyevaEthan Harris, head of global economics at Bank of America Global Research and Yelena Shulyatyeva, U.S. economist at BNP Paribas, joins 'The Exchange' to discuss the market response to the SVB hearing, the regulatory response to the bank crisis, and credit turmoil replacing interest rate hikes.

☆ Watch CNBC's full interview with BofA's Ethan Harris and BNP Paribas' Yelena Shulyatyeva
▼ + stars: | 2023-03-31 | 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 EmailWatch CNBC's full interview with BofA's Ethan Harris and BNP Paribas' Yelena ShulyatyevaEthan Harris, head of global economics at Bank of America Global Research and Yelena Shulyatyeva, U.S. economist at BNP Paribas, joins 'The Exchange' to discuss the market response to the SVB hearing, the regulatory response to the bank crisis, and credit turmoil replacing interest rate hikes.

☆ These tech giants are still making money, but layoffs are coming hard and fast
▼ + stars: | 2023-03-24 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Here are some of the more prominent global tech firms that have axed staff despite earning big money. 30 despite a "dynamic environment," CEO Satya Nadella said in the tech giant's annual report. Despite that, Microsoft announced in January that it's laying off 10,000 workers as the firm braces for slower revenue growth. The enterprise software company also returned to positive operating profit growth of 2%. However, SAP announced in January that it's cutting up to 3,000 jobs, as the leadership seeks to steer the company toward double-digit profit growth in 2023.

Last quarter, Nvidia said tech giant Microsoft was deploying “tens of thousands” of its GPUs in its cloud unit Azure to train and use AI. Microsoft-backed OpenAI's ChatGPT runs entirely on Nvidia chips, Piper Sandler analyst Harsh Kumar said. Revenue from the data center business was $3.62 billion for the fourth quarter, slightly below analyst estimates of $3.84 billion. Gaming chip sales were $1.83 billion, beating analyst estimates of $1.52 billion, according to Refinitiv data. Adjusted profit was 88 cents per share for the fourth quarter, beating analyst estimates of 81 cents.

☆ Stock market still not fulling pricing in recession risks , says BofA's Jill Carey Hall
▼ + stars: | 2023-02-16 | 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 EmailStock market still not fulling pricing in recession risks , says BofA's Jill Carey HallJill Carey Hall, head of small and midcap strategy at Bank of America Global Research, joins 'Squawk Box' to discuss year end targets, nearterm downside risks, and markets not fully pricing in recession.

☆ Watch CNBC's full interview with BofA's Jill Carey Hall on lessons from earnings season
▼ + stars: | 2023-02-16 | 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 EmailWatch CNBC's full interview with BofA's Jill Carey Hall on lessons from earnings seasonJill Carey Hall, head of small and midcap strategy at Bank of America Global Research, joins 'Squawk Box' to discuss year end targets, nearterm downside risks, and markets not fully pricing in recession.

Burry was featured in the 2010 nonfiction book "The Big Short" by Michael Lewis which was made into a popular movie five years later. Farallon, meanwhile, added 2,197,000 shares of Alibaba, while Coatue added 4,796,186 shares of Alibaba and 1,221,551 shares of JD.com. China began taking steps to end its zero-COVID policy, which was among the world's strictest anti-coronavirus regimes, in December. Hedge fund managers' positions were revealed in 13F filings that show what fund managers owned at the end of the quarter. While they are backward-looking, these filings are one of the few public disclosures of hedge fund portfolios.

☆ Kazuo Ueda is set to become Japan's next central bank governor. Here's what it means
▼ + stars: | 2023-02-14 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

Bloomberg | Bloomberg | Getty ImagesKazuo Ueda is set to become the next governor of the Bank of Japan, succeeding current central bank chief Governor Haruhiko Kuroda. Kishida recently emphasized the need for the next central bank governor to have "global communication skills" and be able to coordinate closely with global peers, Reuters reported, citing his comments in parliament. He has led the central bank's ultra-dovish monetary policy, including maintaining a negative interest rate since 2016 – even as global peers have been hiking to tackle inflation. Bank of America Global Research expects gradual policy normalization under the central bank's new leadership instead of an abrupt change, according to the firm's economists led by Izumi Devalier. 'Well-suited' deputiesJapan's government also reportedly announced its nominees for other central bank roles including Shinichi Uchida, currently the central bank's executive director, and Ryozo Himino, the former chief of Japan's Financial Services Agency.

☆ Google has long dominated search, and it's about to massively change it to meet the rising threat of ChatGPT. New AI features could intensify battles with content creators.
▼ + stars: | 2023-02-09 | by ( Thomas Maxwell | ) www.businessinsider.com time to read: +6 min

Like Microsoft's revamped Bing search engine, Bard is meant to give answers directly within search. The unveiling of its new search chatbot this week is likely to once again raise the question of whether Google is using others' work without fair compensation. The company is incorporating the conversational chatbot technology, known as Bard, into search, first as a small test while the company gathers feedback. Microsoft, which recently announced a multibillion-dollar investment into ChatGPT's creator, OpenAI, similarly intends to incorporate that chatbot into its Bing search engine. Microsoft could face similar headaches as it rolls out its new Bing search engine.

☆ The market's technical picture is getting active traders very excited
▼ + stars: | 2023-01-27 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

The S & P closed at a new high for the year Thursday, up 5.75% for the year. Consider: The S & P is breaking a long-term downtrend (lower lows and lower highs) that goes back to the historic high on January 4, 2022. The percentage of stocks in the S & P 500 trading above their 200-day moving average is expanding. The rally is broad-based, with both value and growth stocks in the S & P 500 up almost equally (6.2% and 5.4%, respectively). "You have to get through the 4,100 level, you have to stop the routine of lower highs and lower lows," one trader told me.

☆ Bank of Japan could announce major policy shift this week as bond yields top limit again
▼ + stars: | 2023-01-16 | by ( Jihye Lee | ) www.cnbc.com time to read: +4 min

This picture taken on October 27, 2022 shows pedestrians walking in front of the Bank of Japan (BoJ) headquarters in Tokyo. The move would come less than a month after the Bank of Japan caught markets off guard by widening its tolerance range for 10-year Japanese government bond yields. Indeed, Nikkei reported Monday that the Bank of Japan purchased JGBs worth more than 2 trillion yen ($15.6 billion) after the nation's 10-year bond yield curve topped 0.5% for two consecutive sessions. While the central bank leaving interest rates unchanged would be positive for Japanese stocks, BofA said a removal of its yield curve control policy could lead to sharp declines. HSBC, meanwhile, expects the central bank to announce further widening of the yield curve control tolerance band instead of abolishing the policy altogether.

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