DIRS.INFO The most relevant business & tech news

☆ The US dollar is king again. Here’s why
▼ + stars: | 2023-09-08 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

London CNN —The US dollar is enjoying its longest winning streak in nearly nine years. The rally comes after months of volatility, fueled by concerns that the dollar may be losing its status as the world’s reserve currency. “Rumors of the US dollar’s demise continue to be greatly exaggerated,” James Athey, investment director at Abrdn, an asset manager, told CNN. Higher interest rates tend to boost the value of a country’s currency by attracting more foreign capital, as investors anticipate making bigger returns. “The US economy continues to surprise to the upside,” Carsten Brzeski, global head of macroeconomic research at ING, told CNN.

Persons: ” James Athey, ” Athey, ” Carsten Brzeski, ” Brzeski, Russ Mould, AJ Bell, Athanasios Vamvakidis, Sheldon Cooper, “, ” Alex Cohen Organizations: London CNN, CNN, Federal Reserve, ING, US Federal Reserve, European Central Bank, Bank of America Global Research, People’s Bank of Locations: Saudi Arabia, United States, China, Europe, Germany, Russia, People’s Bank of China

☆ Economist discusses outlook for Japanese economy and inflation
▼ + stars: | 2023-08-29 | 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 EmailHopes in Japan that running a 'high pressure economy' will motivate firms to raise wages: EconomistIzumi Devalier, head of Japan economics at Bank of America Global Research, says "the government … has the same goal as the Bank of Japan in the sense that it is keen on capturing this opportunity to reanchor inflation and inflation expectations higher."

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

☆ Investors are jumping back into short-term bond funds as rates rise
▼ + stars: | 2023-08-18 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The recent jump in market interest rates may have caught some ETF investors off guard, and they are now shifting back into short-term bond funds that can better withstand rising yields. Bond yields move in the opposite direction of price, and long-term bonds see their prices hit harder when rates rise. As a result, investors are shifting into short-term bond funds. The following short-term bond ETFs were in the top 10 for net inflows over the past week, according to FactSet. The upward move for bond yields has been particularly acute in the long end of the yield curve.

Persons: Claudio Irigoyen, Fitch, Irigoyen, TLT Organizations: Federal, Treasury, Treasury Bond ETF, Bloomberg, Bank of America Locations: U.S, Japan

☆ Watch CNBC's full interview with BoA's Jill Carey Hall
▼ + stars: | 2023-08-07 | 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 BoA's Jill Carey HallJill Carey Hall, Bank of America Global Research head of small and mid-cap strategy, joins 'Squawk Box' to discuss the latest market trends in light of Friday's jobs numbers, economic outlook for 2023, where to look for opportunities within small caps, and more.

Persons: BoA's Jill Carey, Jill Carey Organizations: Jill Carey Hall , Bank of America Global Research

☆ It'll take some time for Apple to revert back to product growth, says BofA's Wamsi Mohan
▼ + stars: | 2023-08-04 | 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 EmailIt'll take some time for Apple to revert back to product growth, says BofA's Wamsi MohanWamsi Mohan, Bank of America Global Research senior IT hardware analyst, joins 'Squawk Box' to discuss Apple's quarterly earnings results, which beat Wall Street expectations on services growth but declining sales, the rest of year outlook, and more.

Persons: BofA's Wamsi Mohan Wamsi Mohan Organizations: Apple, Bank of America Global Research

☆ Investors' dash to cash may have peaked - BofA
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +1 min

LONDON, July 21 (Reuters) - Investors' rush to the safety of cash, a dominant theme in capital flow data this year, may be peaking, Bank of America global research said on Friday. (.SPX)Tech stocks have seen strong inflows for the past eight weeks, BofA said, and high yield bonds saw their third weekly inflow in the week to Wednesday versus outflows from investment grade bonds. The weekly data, however, showed $7.5 billion of flows into cash, as well $1.4 billion to bonds, $600 million from gold and $2.1 billion from stocks. Bank loans saw inflows of $400 million, the most since May 2022, and Japanese equities saw their seventh week of inflows, its longest streak since January. Reporting by Alun John; Editing by Amanda Cooper and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: BofA, BofA's, Alun John, Amanda Cooper, Kim Coghill Organizations: Bank of America, Silicon Valley Bank, Tech, Bank, Thomson Locations: U.S, United States

☆ Even the CEO of a top AI startup thinks that AI will 'be the biggest bubble of all time'
▼ + stars: | 2023-07-19 | by ( Gabriel Rivera | ) www.businessinsider.com time to read: +3 min

Stability AI founder Emad Mostaque Courtesy of Stability AIThe CEO of one of the biggest AI startups warned that AI will "be the biggest bubble of all time." Emad Mostaque, the cofounder of Stability AI, compared the hype around the technology to the dot-com bubble, CNBC reported. Stability AI CEO Emad Mostaque told UBS analysts that he thinks AI will "be the biggest bubble of all time," CNBC reported. "I call it the 'dot AI' bubble, and it hasn't even started yet," the cofounder of the generative AI startup said on the call, according to CNBC. And in May, Wharton finance professor Jeremy Siegel was careful not to prognosticate about the future of AI companies.

Persons: Emad Mostaque, hasn't, Mostaque, Sam Altman, James Penny, Michael Hartnett, Dan Ives, Wharton, Jeremy Siegel Organizations: CNBC, Investment, Service, UBS, Investors, Bank of America Global Research, Federal Reserve, Wedbush Securities Locations: Wall, Silicon, Pitchbook, Silicon Valley

☆ CNBC Daily Open: Investment banking sees signs of life
▼ + stars: | 2023-07-19 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This 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. Banking on Bank of AmericaInvestors pushed Bank of America shares up 4.42% on the bank's earnings and revenue beat for the second quarter. Profit rose 19% to $7.41 billion while revenue increased 11% to $25.33 billion, helped by a 14% jump in net interest income. But fund managers are still cautious, according to the latest Bank of America Global Fund Manager Survey.

Persons: Ocado, Morgan Morgan Stanley's, James Gorman's, we've Organizations: CNBC, Dow Jones, Microsoft, Revenue, Bank of America Investors, Bank of America, Bank of America Global Fund, Survey

☆ Fund managers still cautious despite big stock market rally, BofA survey shows
▼ + stars: | 2023-07-18 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

That fear has led a net 39% of survey respondents to say they are taking less risk than normal, a 2 percentage point increase from June. Interestingly, Hartnett noted that 66% retail investors as gauged by the American Association of Individual Investors surveys are in stocks, the "most bullish since late 2021." Hartnett also noted a "capitulation" move out of commodities, as managers have taken their most underweight position in the sector since May 2020. The July survey captured the sentiment of 262 respondents with $652 billion in assets under management. Sentiment surveys often can be contrarian indicators, so rising pessimism can be a good sign for markets.

Persons: Michael Hartnett, Hartnett Organizations: Bank of America Global Fund, Survey, U.S . Federal, Nasdaq, Big Tech, American Association of, Investors

☆ Wall Street is getting more optimistic the U.S. can avoid a recession
▼ + stars: | 2023-07-18 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Wall Street has gone from more than a year of worrying about a recession to thinking that one actually may not happen. At this point, the outgoing executive said, it doesn't even matter much if the U.S. hits a technical recession. "What matters is if you have a deep recession that changes the unemployment, and that's not happening," he said. Chicago Fed President Austan Goolsbee is among those who think the economy can avoid a recession even with 5 percentage points worth of rate hikes since March 2022. Finally, those expecting a "soft landing" for the economy rose to 68%, against 21% of those who see a hard landing.

Persons: Morgan Stanley, James Gorman, CNBC's Leslie Picker, Goldman Sachs, Goldman, Spencer Hill, Hill, Gorman, Austan Goolsbee, Goolsbee Organizations: Citi, Reserve, Chicago Fed, CNBC, Bank of America Global Fund, Survey Locations: U.S

New York Fed President John Williams in an interview with the Financial Times said the central bank is not done raising rates. Amazon.com (AMZN.O) outpaced megacap peers, up 0.8%, going into the "Prime Day" 48-hour shopping event, which falls on July 11-12. ET, the Dow Jones Industrial Average (.DJI) was up 150.60 points, or 0.44%, at 34,095.00, the S&P 500 (.SPX) was up 9.33 points, or 0.21%, at 4,418.86, and the Nasdaq Composite (.IXIC) was up 2.20 points, or 0.02%, at 13,683.19. Eight of the top 11 S&P 500 sectors advanced, with energy (.SPNY) leading gains by 1.9%. The S&P index recorded 40 new 52-week highs and one new low, while the Nasdaq recorded 71 new highs and 25 new lows.

Persons: Dow, Phil Blancato, Ladenburg, John Williams, Jefferies, Johann M Cherian, Shinjini Ganguli, Arun Koyyur, Maju Samuel Organizations: JPMorgan, Jefferies, Dow, Nasdaq, Fed, Asset Management, New York Fed, Financial Times, Dow Jones, Activision, Microsoft, Salesforce, Bank of America Global Research, JPMorgan Chase, NYSE, Thomson Locations: U.S, Bengaluru

☆ '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

☆ Roblox CEO David Baszucki on how VR headsets and AI will change the future of gaming
▼ + stars: | 2023-06-08 | 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 EmailRoblox CEO David Baszucki on how VR headsets and AI will change the future of gamingRoblox CEO David Baszucki sat down with CNBC's Deirdre Bosa at the Bank of America Global Technology Conference this week to discuss Apple's new headset "Vision Pro" after the tech giant said it would use Roblox competitor Unity Software for apps and games. Baszucki also discussed the company's growth, its revenue split with developers, and monetizing AI experiences.

Persons: David Baszucki, CNBC's Deirdre Bosa, Baszucki Organizations: Bank of America Global Technology Conference, Unity Software

☆ 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.

☆ European markets head for positive open ahead of Fed rate decision
▼ + stars: | 2023-05-03 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Maybe Monday's stock market slide shows investors are finally tempering their optimism that the Federal Reserve will cut interest rates later this year to counterbalance an economic slowdown. Simply put, investors have bid up stocks since mid-March on a belief that the Fed will pivot policy, and cut rates by half a percentage point in reaction a shallow recession, BofA said. Unfortunately, the bank says such hopes will be dashed. "We see four risks this summer: an ugly debt ceiling battle, a significant tightening of bank credit, a geo-political event and disappointingly hawkish central banks. Hence a mild recession in the US—and flat growth in other major economies—will not trigger an immediate policy response," Harris wrote.

☆ 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.

Search resuls for: "Bank of America Global"

25 mentions found