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CNBC Daily Open: Wall Street disagrees with main street
  + stars: | 2023-09-18 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +5 min
Gabby Jones | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. [PRO] FOMC meeting this weekThe Federal Reserve's meeting on Wednesday will be the main event to keep an eye on for this week. "Investors remained upbeat about the outlook for stocks and the economy in August," according to a Vanguard Investor Expectations Survey. In that open space between breaths, equilibrium between Wall Street and main street may be reached.
Persons: Gabby Jones, Hong, Kospi, Joe Biden, there's, Edward Jones, Mona Mahajan, CNBC's, Mahajan, Ray, Greg Bassuk Organizations: New York Stock Exchange, Bloomberg, Getty, CNBC, Dow Jones, Index, Nikkei, China, European Central Bank, Federal Reserve, Bank of England, U.S, Initiative, FedEx, University of Michigan, Consumers, Survey, Dow Jones Industrial, Nasdaq, Dow Locations: New York, Asia, Pacific, China Venture, China, India, East, Europe
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed will be reluctant to declare 'mission accomplished': Edward Jones' Mona MahajanTorsten Slok, Apollo Global Management chief economist, and Mona Mahajan, Edward Jones senior investment strategist, join 'Squawk on the Street' to discuss what to expect from next week's Federal Reserve meeting, what could be a risk ahead for equity investors, and more.
Persons: Edward Jones, Mona Mahajan Torsten Slok, Mona Mahajan Organizations: Apollo Global Management, Reserve
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Apollo Global's Torsten Slok and Edward Jones' Mona MahajanTorsten Slok, Apollo Global Management chief economist, and Mona Mahajan, Edward Jones senior investment strategist, join 'Squawk on the Street' to discuss what to expect from next week's Federal Reserve meeting, what could be a risk ahead for equity investors, and more.
Persons: Apollo Global's Torsten Slok, Edward Jones, Mona Mahajan Torsten Slok, Mona Mahajan Organizations: Apollo Global Management, Reserve
Futures connected to the Dow Jones Industrial Average added 32 points, or 0.09%. S&P 500 futures and Nasdaq-100 futures hovered near the flatline. The Dow jumped 331.58 points, or 0.96%, rising for the first time in three sessions and notching its best daily performance in over a month. Elsewhere, the headline producer price index grew 0.7% in August, coming in above economists' expectations for 0.4%, per Dow Jones. U.S. crude oil prices jumped nearly 2% and rose above $90 a barrel for the first time since November.
Persons: Dow, Dow Jones, Mona Mahajan, Edward Jones, eking, Stocks Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Adobe, Holdings, Dow, Industrial
According to Goldman's chief economist, Jan Hatzius, some 25% of all US workers work from home at least part of the week. So, which Wall Street firms are still letting employees work from home at least part of the time? On days employees are in, the firm focuses on taking "advantage of our shared location," it reads. At that time, the firm called for its employees to come into the office a minimum of three days a week. Since then, most employees have been in the office throughout the week, according to a person familiar with the firm.
Persons: Goldman Sachs, David Solomon, Citadel's Ken Griffin, Joe Biden, Jan Hatzius, Hatzius, Jamie Dimon, Goldman, Goldman Sachs Goldman Sachs, , Dimon, JPMorgan Gretchen Ertl, Jane Fraser, she's, Fraser, they're, Citigroup Patrick, Fallon, Brian T, Moynihan, Bank of America Shannon Stapleton, Reuters Morgan Stanley Morgan Stanley's, James Gorman, Gorman, Gorman doesn't, Morgan Stanley, we're, James Gorman SAUL LOEB, Larry Fink, Larry Fink Spencer Platt, Citadel's Griffin, Griffin, Raj Mahajan, Ken Griffin, Milken, Mike Blake, Blackstone, Stephen Schwarzman Roy Rochlin, Nir Bar Dea, Izzy Englander's Organizations: JPMorgan, Blackstone, Morning, Citadel, Bloomberg, Business, Deloitte, JPMorgan JPMorgan, Goldman, Citigroup, Street, Bank, Economic, Getty Images Bank of America Bank of, Bank of America, Reuters, Getty, BlackRock BlackRock, Yards, Labor, Fox, BlackRock, Citadel Securities, Blackstone Blackstone, Bridgewater Bridgewater Associates, Bridgewater Associates, Bridgewater Locations: Citadel, Davos, Switzerland, New York City
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're seeing a controlled market pullback right now, says Edward Jones' Mona MahajanMona Mahajan, Edward Jones senior investment strategist, joins 'Squawk on the Street' to discuss her forecast for August, what seems reasonable in expectations for next year, and more.
Persons: Edward Jones, Mona Mahajan Mona Mahajan
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe think the market is in the beginning stages of a bull market phase: Edward Jones' Mona MahajanMona Mahajan, Edward Jones senior investment strategist, joins 'Squawk Box' to discuss the latest market trends, rest of year outlook, and more.
Persons: Edward Jones, Mona Mahajan Mona Mahajan
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarket gains could start broadening into cyclical sectors like financials: Edward Jones' MahajanMona Mahajan, Edward Jones senior investment strategist, and Sameer Samana, Wells Fargo Investment Institute senior global market strategist, joins 'Closing Bell Overtime' to talk earnings, the banking sector, the markets as a whole and more.
Persons: Edward Jones, Mona Mahajan, Sameer Samana Organizations: Email, Wells Fargo Investment Institute Locations: Wells Fargo
Wednesday's CPI report showed U.S. consumer prices registered their smallest annual increase in more than two years. The reports have helped to support the view the Federal Reserve will stop hiking rates after an expected 25 basis points rate increase later this month. Technology-related shares provided the most support to the S&P 500, and an index of tech-focused shares including megacaps (.NYFANG) gained 2.7% and registered a record high close. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 7, 2023. The S&P 500 posted 51 new 52-week highs and one new low; the Nasdaq Composite recorded 135 new highs and 39 new lows.
Persons: Mona Mahajan, Edward Jones, Brendan McDermid, JPMorgan Chase, Alan Lancz, Alan B, Bard, Caroline Valetkevitch, Johann M Cherian, Sinead Carew, Shashwat Chauhan, Saumyadeb Chakrabarty, Maju Samuel, Deepa Babington Organizations: Dow, Nasdaq, Federal Reserve, PPI, . Technology, Dow Jones, Nvidia, New York Stock Exchange, REUTERS, JPMorgan, Lancz, Associates Inc, Air Lines, PepsiCo, Google, Inc, U.S, NYSE, Thomson Locations: U.S, Philadelphia, New York City, Toledo , Ohio, Europe, Brazil, Bengaluru, New York
Wednesday's CPI report showed U.S. consumer prices registered their smallest annual increase in more than two years. The reports have helped to support the view the Federal Reserve will stop hiking rates after an expected 25 basis points rate increase later this month. "PPI is another confirmation this week that inflation continues to trend in the right direction even as we see better overall labor market and consumer data. According to preliminary data, the S&P 500 (.SPX) gained 37.73 points, or 0.84%, to end at 4,509.89 points, while the Nasdaq Composite (.IXIC) gained 219.35 points, or 1.58%, to 14,138.31. Delta Air Lines (DAL.N) shares gained after it lifted its full-year profit outlook following stronger-than-expected second-quarter earnings on a relentless post-pandemic travel boom.
Persons: Mona Mahajan, Edward Jones, JPMorgan Chase, Alan Lancz, Alan B, Bard, Caroline Valetkevitch, Johann M Cherian, Sinead Carew, Shashwat Chauhan, Saumyadeb Chakrabarty, Maju Samuel, Deepa Babington Organizations: Delta Air Lines, Federal Reserve, PPI, Nasdaq, Dow Jones, Nvidia, JPMorgan, Lancz, Associates Inc, Air Lines, PepsiCo, Google, Inc, Thomson Locations: Philadelphia, Toledo , Ohio, Europe, Brazil, Bengaluru, New York
The S&P 500 defied recession fears and a U.S. banking crisis to notch a 15.9% gain in the first half. The S&P 500 (.SPX) has posted a positive return in eight consecutive Julys, and the tech-heavy Nasdaq 100 index (.NDX) has climbed in July for 15 straight years. S&P 500 companies are expected to post an overall drop in earnings of 5.7% from the year-earlier period, according to Refinitiv IBES. The S&P 500 is trading at 19.1 times forward earnings estimates, well above its historic average P/E of 15.6 times, according to Refinitiv Datastream. "At some point, this move in interest rates has got to have some consequences for the markets," Matt Maley, chief market strategist at Miller Tabak, said in a note on Friday.
Persons: Brendan McDermid, , Mona Mahajan, Edward Jones, Omar Aguilar, Refinitiv IBES, , John Lynch, Refinitiv, Matt Maley, Miller Tabak, Lewis Krauskopf, Ira Iosebashvili, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Federal, Nasdaq, ” Reuters, American Association of, Fed, Schwab Asset Management, Apple, Microsoft, Nvidia, Comerica Wealth Management, Treasury, Deutsche Bank, UBS Global Wealth Management, UBS, Thomson Locations: New York City, U.S
Stronger than expected economic data pushed Treasury yields higher and steered investors toward economically sensitive sectors as recession fears eased. But buyers shied away from some rate-sensitive growth sectors due to concerns the Fed would keep interest rates higher for longer. After a health check showed that the biggest U.S. banks have enough capital to weather a severe economic slump the S&P 500 banks index (.SPXBK) closed up 2.6%. The Dow Jones Industrial Average (.DJI) rose 269.76 points, or 0.8%, to 34,122.42, the S&P 500 (.SPX) gained 19.58 points, or 0.45%, to 4,396.44 and the Nasdaq Composite (.IXIC) dropped 0.42 points to 13,591.33. The S&P 500 posted 44 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 90 new highs and 90 new lows.
Persons: Mona Mahajan, Louis, Edward Jones, Russell, Jerome Powell, Brendan McDermid, Air Jordan, Sinéad Carew, Sruthi Shankar, Johann M, Shinjini Ganguli, David Gregorio Our Organizations: Dow, Nasdaq, St, Dow Jones, New York Stock Exchange, REUTERS, Brendan McDermid Traders, Reuters, Nvidia, Microsoft, SOX, Micron Technology, Occidental Petroleum, Berkshire Hathaway Inc, Nike, Air, LeBron, NYSE, Thomson Locations: New York City, U.S, megacaps, Philadelphia, New York, Bengaluru
[1/5] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 29, 2023. REUTERS/Brendan McDermidJune 29 (Reuters) - The Dow and the S&P 500 rose on Thursday as bank shares rallied after major lenders cleared the Federal Reserve's annual stress test, while strong economic data stoked expectations of further interest rate hikes from the central bank. Stronger than expected economic data pushed Treasury yields higher and steered investors toward economically sensitive sectors as recession fears eased. Buyers shied away from rate-sensitive growth sectors due to concerns that the Fed would keep interest rates higher for longer. After a health check showed that the biggest U.S. banks have enough capital to weather a severe economic slump the S&P 500 banks index (.SPXBK) gained.
Persons: Brendan McDermid, Buyers, Mona Mahajan, Louis, Edward Jones, Jerome Powell, underpeformed, Sinéad Carew, Sruthi Shankar, Johann M, Shinjini Ganguli, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Dow, St, Nasdaq, Dow Jones, Traders, Reuters, Microsoft, Micron Technology, Occidental Petroleum, Berkshire Hathaway Inc, Nike, Thomson Locations: New York City, U.S, megacaps, Philadelphia, New York, Bengaluru
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStock market doesn't need soft landing to expand, says Edward Jones' Mona MahajanTom Lee, Fundstrat Global Advisors co-founder, and Mona Mahajan, Edward Jones senior investment strategist, join 'Closing Bell Overtime' to recap today's market movement, Adobe earnings, and what the Federal Reserve's next move might be.
Persons: Edward Jones, Mona Mahajan Tom Lee, Mona Mahajan Organizations: Email, Fundstrat Global Advisors, Federal
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Tom Lee and Mona Mahajan on Thursday's market actionTom Lee, Fundstrat Global Advisors co-founder, and Mona Mahajan, Edward Jones senior investment strategist, join 'Closing Bell Overtime' to recap today's market movement, Adobe earnings, and what the Federal Reserve's next move might be.
Persons: Tom Lee, Mona Mahajan, Edward Jones Organizations: Fundstrat Global Advisors, Federal
Stock futures inched higher in overnight trading as traders looked ahead to Friday's May jobs report. Futures tied to the Dow Jones Industrial Average gained 31 points, or 0.09%, while S&P 500 futures added 0.08%. The Senate passed a bill to raise the debt ceiling late Thursday night, sending the bill to President Joe Biden's desk. With much of the debt ceiling drama in the rear-view mirror, investor attention pivots toward Friday's jobs report. Economists surveyed by Dow Jones expect that growth eased in May over the previous month, with 190,000 jobs added versus the 253,000 gained in April.
Persons: MongoDB, Stocks, Joe Biden's, Janet Yellen, Mona Mahajan, Edward Jones, Dow Jones Organizations: Dow Jones Industrial, Nasdaq, Dow Jones, U.S, Treasury, Dow Locations: U.S
Opinion | Two Ways of Looking at the Stock Market’s Rise
  + stars: | 2023-05-31 | by ( Peter Coy | ) www.nytimes.com   time to read: +1 min
Gains in the U.S. stock market this year have been concentrated among a handful of immensely valuable tech companies. Technology and communications services stocks in the Standard & Poor’s 500 are up more than 30 percent this year to date. Consumer discretionary stocks are up this year as well — by around 18 percent — but all of the other eight S&P 500 sectors are down. What is the hyper-narrow stock market advance telling us about prospects for the economy, and should we pay attention? The pessimistic take is that it’s unhealthy for a market — and an economy — when all the good news is concentrated in a handful of sectors.
Persons: , ” JoAnne Feeney, ” Mona Mahajan, Edward Jones Organizations: Technology, Advisors Capital Management Locations: U.S, Ridgewood, N.J
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEdward Jones' Mona Mahajan says tech trade has legs and should persistMona Mahajan, Edward Jones senior investment strategist, joins 'Power Lunch' to discuss the tech trade and if it's a safe place for investors to get back in.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Edward Jones' Mona Mahajan on steepening Treasury curveMona Mahajan, Edward Jones senior investment strategist, joins 'Closing Bell: Overtime' to discuss her market outlook, market bottom and trends.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDon't expect markets to price in a recession twice, says Edward Jones' Mona MahajanMona Mahajan, Edward Jones senior investment strategist, joins 'Closing Bell: Overtime' to discuss her market outlook, market bottom and trends.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPowell reiterated what we've been hearing all along, says Edward Jones' Mona MahajanBespoke Investment Group's Paul Hickey and Mona Mahajan of Edward Jones join Mike Santelli and the 'CNBC Special: Taking Stock' to discuss today's market reaction to Fed Chair Jay Powell's Senate testimony.
What to expect in the market ahead
  + stars: | 2023-03-06 | 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 EmailWhat to expect in the market aheadMona Mahajan, senior investment strategist at Edward Jones, joins 'Squawk Box' to discuss the market and her expectations.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA lot of investors were underweight earlier in the year, says Edward Jones' MahajanMona Mahajan of Edward Jones joins Bleakley Advisory Group's Peter Boockvar and the 'CNBC Special: Taking Stock' to discuss investors' post-CPI playbook.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWith unemployment at 3.4%, a recession is clearly not imminent, says Edward Jones' Mona MahajanMona Mahajan, senior investment strategist at Edward Jones, and Ron Insana, co-CEO at Contrast Capital Partners, join 'Power Lunch' to discuss the latest labor market numbers, the Fed's quantitative tightening, and speculative investments making gains.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Citi's Scott Chronert and Edward Jones' Mona MahajanScott Chronert, Citi U.S. equity strategist, and Mona Mahajan, senior investment strategist at Edward Jones, join 'Squawk on the Street' to break down the market, a possible mild recession, and more.
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