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☆ Investors tiptoe back into US bank stocks, regulators probe SVB collapse
▼ + stars: | 2023-03-14 | by ( Chris Prentice | ) www.reuters.com time to read: +6 min

March 14 (Reuters) - Bruised U.S. bank stocks regained some ground on Tuesday, as a sell-off sparked by Silicon Valley Bank's collapse gave way to bargain-hunting by investors hopeful that efforts to shore up confidence would avert a wider financial crisis. The S&P 500 regional banks index (.SPLRCBNKS) rebounded 1.4%, leaving it with a 26% loss over the past five sessions. Investors worry about the health of smaller banks, the prospect of tighter regulation and authorities' preference for protecting depositors before shareholders. Reuters Graphics Reuters GraphicsINVESTIGATIONSAs markets adjusted to the impact of SVB's collapse, regulars turned their focus to the circumstances around the bank's collapse. Officials are also examining stock sales by officers of SVB Financial Group, which owned the bank, the WSJ reported, citing people familiar with the matter.

Worries about potential contagion had also slammed bank shares in Asia and Europe as investors re-examined their risks, despite assurances from U.S. President Joe Biden and other global policymakers that the financial system is safe. In Europe, where some see lenders as less vulnerable, the banking index (.SX7P) first fell then recovered to rise 2.7%. Asian banking stocks had extended their declines overnight, with Japanese banks hard-hit despite reassurances from the Bank of Japan said about their capital buffers. Regulator FDIC had moved swiftly to close New York's Signature Bank SBNY.O as well as taking control of SVB. Citing people familiar with the matter, the WSJ said the investigators are also examining stock sales that SVB Financial Group's executives made days before SVB failed, adding that the Justice Department's probe involves the department's fraud prosecutors in Washington and San Francisco.

☆ Shares of US regional banks attempt recovery after SVB-fueled rout
▼ + stars: | 2023-03-14 | by ( Medha Singh | ) www.reuters.com time to read: +2 min

March 14 (Reuters) - Shares of U.S. regional banks rose on Tuesday after suffering double-digit losses over the past few days following the biggest bank collapse since the 2008 global financial crisis. The collapse of Silicon Valley Bank (SIVB.O) and Signature Bank (SBNY.O) sent shockwaves through global markets, despite assurances from U.S. President Joe Biden and other policymakers that banks and deposits were safe. First Republic Bank (FRC.N) rose 57% before trading was halted for volatility, a day after hitting an intraday record low of $17.53. The S&P 1500 regional banks sub-industry index (.SPCOMBNKS) advanced 7.7% after shedding 20% in the past three sessions. Big banks rose with JPMorgan up 1.6%, Wells Fargo (WFC.N) 6.6% and Bank of America (BAC.N) 4.2%.

CHICAGO, March 14 (Reuters) - U.S. airlines on Tuesday tried to reassure investors about the strength of travel demand, a day after United Airlines (UAL.O) stoked worries about the industry's pricing power. Even as executives in other sectors of the economy have warned of recession risks, airline chief executives until now have remained upbeat as consumer travel demand stayed strong. Delta reaffirmed its first-quarter outlook, saying travel demand is strong and getting stronger. American Airlines (AAL.O) CEO Robert Isom said the Texas-based carrier was enjoying "tremendous" demand. Airline ticket prices have gone up due to persistent capacity constraints and an unending thirst for travel after pandemic-related restrictions ended.

☆ Analysis: Awaiting key data, some investors fear Fed will overdo tightening
▼ + stars: | 2023-03-10 | by ( Davide Barbuscia | ) www.reuters.com time to read: +5 min

Some also worry that the Fed's messaging is becoming erratic as it reacts to successively weak then strong economic data. BlackRock, the world's biggest asset manager, was among the slew of big Wall Street names raising their views for how high policy rates could go, with a forecast of 6%. Reuters GraphicsFor some investors, a return to 50 and 75 basis point rate increases may be a bridge too far. "Investors fear the Fed is going to overdo it," said Jack Ablin, chief investment officer at Cresset Capital. A spate of hotter than expected data would soon show that the economy was stronger than the Fed had expected.

The two-year yield , which best reflects short-term rate expectations, hit a fresh 15-year high at 4.93%. The S&P 500 and Nasdaq fell on Wednesday after data showed U.S. manufacturing contracted for a fourth straight month in February, although raw material prices increased last month. The S&P 500 (.SPX) fell 22.28 points, or 0.56%, to 3,929.11, but was trading near its 200-day moving average, seen as a key support level by traders. The S&P index recorded two new 52-week highs and 12 new lows, while the Nasdaq recorded 26 new highs and 71 new lows. Reporting by Sruthi Shankar in Bengaluru; Editing by Savio D'Souza and Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Futures extended losses after data showed the number of Americans filing new unemployment claims fell again last week, pointing to sustained labor-market strength. Another set of data showed non-farm unit labor costs were revised to 3.2% in the fourth quarter, against economists' estimate of a 1.6% rise. The two-year yield , which best reflects short-term rate expectations, hit a fresh 15-year high at 4.94%. The benchmark S&P 500 (.SPX) and the tech-heavy Nasdaq (.IXIC) fell on Wednesday after data showed U.S. manufacturing contracted for a fourth straight month in February, although raw material prices increased last month. ET, Dow e-minis were up 56 points, or 0.17%, S&P 500 e-minis were down 21.75 points, or 0.55%, and Nasdaq 100 e-minis were down 107 points, or 0.89%.

☆ Watch CNBC’s full post-market discussion with Eaton Vance’s Aaron Dunn and Cresset Capital’s Jack Ablin
▼ + stars: | 2023-02-28 | 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 post-market discussion with Eaton Vance’s Aaron Dunn and Cresset Capital’s Jack AblinEaton Vance’s Aaron Dunn and Cresset Capital’s Jack Ablin join 'Closing Bell: Overtime' to discuss current market trends and their outlook as well as earnings after the bell.

☆ Risk now has a price in the market, says Eaton Vance’s Aaron Dunn
▼ + stars: | 2023-02-28 | 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 EmailRisk now has a price in the market, says Eaton Vance’s Aaron DunnEaton Vance’s Aaron Dunn and Cresset Capital’s Jack Ablin join 'Closing Bell: Overtime' to discuss current market trends and their outlook heading into March.

Biden, who earlier last year signed into law a 1% tax on corporate stock buybacks, used his speech to call for that to be quadrupled, as well as renew his calls for higher taxes on billionaires. If companies sense such a tax is imminent, it might spur them to speed up buybacks and eventually shift toward paying dividends instead. "If this tax encourages companies to raise their dividends instead of buying back shares, all in all, it's not a bad thing." Other topics were also watched by investors, particularly remarks on China, a key area of interest for investors. BUYBACKS & BILLIONAIRESCorporate stock buybacks, where public companies buy back their own shares, thereby juicing the price of the shares as a way to return cash to shareholders, have grabbed headlines this year.

☆ The dollar decline indicates most of the Fed tightening is behind us, says Cresset's Jack Ablin
▼ + stars: | 2023-02-08 | 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 EmailThe dollar decline indicates most of the Fed tightening is behind us, says Cresset's Jack AblinJack Ablin, Cresset Capital founding partner and CIO, joins 'Power Lunch' to discuss Fed policy going forward, discounted international equities and investment in gold.

"If this tax encourages companies to raise their dividends instead of buying back shares, all in all, it's not a bad thing." Other topics will be watched by investors, particularly remarks on China, a key area of interest for investors. BUYBACKS & BILLIONAIRESCorporate stock buybacks, where public companies buy back their own shares, thereby juicing the price of the shares, as a way to return cash to shareholders, have grabbed headlines this year. S&P 500 companies' stock buybacks are expected to total $220 billion for the fourth quarter of 2022, with 2023 set to be the first fiscal year with over $1 trillion in buybacks, according to data from S&P Dow Jones Indices. Biden is also expected to call for another narrow tax increase: a "billionaire minimum tax" aimed at taxing the unrealized capital gains from assets such as stocks, bonds, or privately held companies of high-net-worth individuals.

The reports renewed questions about global economic demand, the effect of higher interest rates and whether the market's January rally got ahead of itself. Apple, the world's largest publicly traded company, fell short of expectations, hurt by lower iPhone sales and production disruptions in China. Amazon said operating profits could fall this quarter due to lower demand, and Alphabet's online advertisers cut back their spend as well. Shares of the three companies dropped after the results were released and were expected to drag the market lower Friday following a euphoric rally Thursday. These three firms and Microsoft (MSFT.O), the four U.S. companies with trillion-dollar market values, have led the broad-market S&P 500 in 2023.

☆ Investors are holding near-record levels of cash and may be poised to snap up stocks
▼ + stars: | 2023-01-18 | by ( Patti Domm | In | ) www.cnbc.com time to read: +2 min

But the question is this: Will those investors return any time soon, especially with sentiment still so sour and stocks at risk of a major selloff? Total net assets in money market funds rose to $4.814 trillion in the week ended Jan. 4, according to the Investment Company Institute. At the same time, money market funds are actually generating a few percentage points of income for the first time in years. Consider that sweep accounts, where investors hold unused cash balances in their brokerage accounts, can park those amounts in money market mutual funds or money market deposit accounts. To me this was people basically selling the market at the end of the year, and they just parked it in the money market funds.

☆ I'm shrugging off a lot of data investors are wringing their hands with today, says Cresset Capital's Ablin
▼ + stars: | 2022-12-22 | 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 EmailI'm shrugging off a lot of data investors are wringing their hands with today, says Cresset Capital's AblinJack Ablin, Cresset Capital founding partner and CIO, joins 'Power Lunch' to discuss his current view on equities, hi outlook for corporate earnings in 2023 and more.

☆ Wall Street Week Ahead: Wall Street hunts for recession plays to weather potential 2023 turbulence
▼ + stars: | 2022-12-02 | by ( David Randall | ) www.reuters.com time to read: +5 min

JPMorgan, Citi and BlackRock are among those who believe a recession is likely in 2023. Nevertheless, many on Wall Street are increasing allocations to areas of the market that have a reputation for outperforming during uncertain economic times. The S&P 500 Health Care sector is down around 1.7% year-to-date, handily beating the broader index's performance. JPMorgan's analysts forecast a "mild recession" and expect the S&P 500 to test its 2022 lows in the first quarter of next year. Signs of ebbing inflation have fueled hopes that the Fed may tighten monetary policy less than expected, supporting a rebound in the S&P 500 that has buoyed the index from its October low.

☆ Wall Street awaits midterm vote tallies
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +6 min

Republicans were favored to win control of the House of Representatives and possibly the Senate, polls and betting markets showed earlier, though it may be hours before all vote tallies are known. read moreCOMMENTS:CHARU CHANANA, MARKET STRATEGIST, SAXO MARKETS, SINGAPORE"The race seems to be closer than expected, especially for the Senate. "That said, if the Republicans take the Senate along with the House that provides a pro-business backdrop for the market." "A Republican win will in generally be positive for equities, but inflationary risk is unlikely to be mitigated nor accelerated." IPEK OZKARDESKAYA, SENIOR ANALYST, SWISSQUOTE BANK"From an investor point of view, a Republican win in both chambers is a good outcome for the stocks.

☆ 2 Wall Street awaits midterm vote tallies in upbeat mood
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

Wall Street ended higher on Tuesday during voting in midterm elections that will determine control of the U.S. Congress, with investors betting on a political stalemate that could prevent major policy changes. Republicans are favored to win control of the House of Representatives and possibly the Senate, polls and betting markets show, though it may be hours before all vote tallies are known. BROOKS RITCHEY, CO-CIO, K2 ADVISORS"If we get a split Congress, we might have to adjust our portfolios to be less defensive than we are today." JACK ABLIN, CHIEF INVESTMENT OFFICER, CRESSET CAPITAL, CHICAGO"I think the markets are rallying at the prospect of gridlock." Compiled by the Global Finance & Markets Breaking News teamOur Standards: The Thomson Reuters Trust Principles.

That could support a rally in 10-year Treasury bonds and help stocks extend their recent gains, they said. "I think the markets are rallying at the prospect of gridlock," said Jack Ablin, chief investment officer at Cresset Capital in Chicago. Historically, stocks have tended to do better under a split government when a Democrat is in the White House, with investors attributing some of that performance to political gridlock that prevents major policy changes. The benchmark index has risen about 5% over the last month, cutting its year-to-date decline to about 20%. With U.S. equity options market positioned for relative calm, a surprisingly strong showing by Democrats could upend markets.

☆ 3 Wall Street awaits midterm vote tallies in upbeat mood
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +3 min

The S&P 500 (.SPX) rose 0.56% on Tuesday during voting that will determine control of the U.S. Congress, with investors betting on a political stalemate that could prevent major policy changes. Republicans are favored to win control of the House of Representatives and possibly the Senate, polls and betting markets show, though it may be hours before all vote tallies are known. BROOKS RITCHEY, CO-CIO, K2 ADVISORS"If we get a split Congress, we might have to adjust our portfolios to be less defensive than we are today." JACK ABLIN, CHIEF INVESTMENT OFFICER, CRESSET CAPITAL, CHICAGO"I think the markets are rallying at the prospect of gridlock." Compiled by the Global Finance & Markets Breaking News teamOur Standards: The Thomson Reuters Trust Principles.

☆ Investors brace for government gridlock as Republicans seen gaining in U.S. midterms
▼ + stars: | 2022-11-08 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

Republicans are favored to win control of the House of Representatives and possibly the Senate, polls and betting markets show, though there are still hours left to vote. "I think the markets are rallying at the prospect of gridlock," said Jack Ablin, chief investment officer at Cresset Capital in Chicago. "Fiscal spending has created a challenge for central banks worldwide. The S&P 500 (.SPX), which finished up 0.6% on the day, has risen about 5% over the last month. Reporting by Saqib Iqbal Ahmed; Editing by Ira Iosebashvili and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ We are back to fair value, says Cresset Capital's Jack Ablin
▼ + stars: | 2022-11-01 | 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 EmailWe are back to fair value, says Cresset Capital's Jack AblinJack Ablin, Cresset Capital founding partner and CIO, joins 'Power Lunch' to discuss fair value returning to markets, energy market moves and the Fed's evolving definition of beating inflation.

☆ Top investors say it's foolish to ignore the value in tech stocks right now. What to buy and when
▼ + stars: | 2022-10-21 | by ( Samantha Subin | ) www.cnbc.com time to read: +25 min

Schatz of Heritage Capital looks for what he calls "high-flier" or "second-tier" technology stocks severely battered this year but pushing higher. Playing defense When looking outside of big tech, investors may also want to consider looking out for more defense-focused names. His picks include IBM, which trades at just 14 times forward earnings and offers a sticky revenue base. Schatz of Heritage Capital looks for what he calls "high-flier" or "second-tier" technology stocks severely battered this year but pushing higher. His picks include IBM, which trades at just 14 times forward earnings and offers a sticky revenue base.

☆ Watch CNBC's full interview with Cresset Capital's Jack Ablin
▼ + stars: | 2022-09-23 | 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 Cresset Capital's Jack AblinJack Ablin, Cresset Capital CIO, joins 'TechCheck' to discuss his thoughts around the strength of the dollar and rising rates, whether gold is a safe haven commodity and what he recommends for the average investor.

☆ I suspect Treasurys will break before the strong dollar, says Cresset Capital's Jack Ablin
▼ + stars: | 2022-09-23 | 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 EmailI suspect Treasurys will break before the strong dollar, says Cresset Capital's Jack AblinJack Ablin, Cresset Capital CIO, joins 'TechCheck' to discuss his thoughts around the strength of the dollar and rising rates, whether gold is a safe haven commodity and what he recommends for the average investor.

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