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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 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 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 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.
Europe's STOXX 600 index (.STOXX) has gained some 17% since the end of the third quarter, versus 11% for the U.S. benchmark S&P 500. MSCI's gauge of global stocks excluding the U.S. has risen more than 20% over that time. The firm last month rotated more into international equities as it increased its overall stock exposure, de Longis said. US vs European stock performanceInternational stocks were recently touted by investor Jeffrey Gundlach of DoubleLine Capital and BofA Global Research, which projected global stocks would "crush" their U.S peers in 2023. Buying international stocks could be a "complement" to the opportunity domestically, said Mona Mahajan, senior investment strategist at Edward Jones.
Experts react to December's inflation report
  + stars: | 2023-01-12 | 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 EmailExperts react to December's inflation reportEdward Jones' Mona Mahajan, Conference Board's Dana Peterson, University of Michigan's Michael Strain, and Betsey Stevenson, former chief economist at the Labor Department, join 'Squawk Box' to share their opinions on December's CPI print.
[1/3] A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 5, 2023. The U.S. consumer price index (CPI) is expected to show December's headline inflation at 6.5% versus 7.1% in November. "Inflation and what the Fed's response to it is still remains the number one focus and anxiety for the market," said Manulife's Theoret. "The risk going into Thursday is really that the market is more vulnerable to an upside surprise in inflation. U.S. crude settled up 0.66% at $75.12 per barrel and Brent finished at $80.10, up 0.56% on the day.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed could signal rate cuts in the back half of 2023, says Edward Jones' Mona MahajanMona Mahajan, senior investment strategist at Edward Jones, joins CNBC's 'Squawk Box'' to break down her outlook for the U.S. economy and markets in 2023.
"The issue is how much has the market already discounted a recession, and that’s where it gets a little bit thornier." Concerns that the Fed will maintain its hawkish stance helped drive the S&P 500 down 1.45% on Thursday. The S&P 500 marked a 2022 closing low of 3,577.03 in October, just over 6% below its current level. Yet earnings fall by an average annual rate of 24% during recessions, according to Clissold, leaving plenty of downside for profits if a slowdown hits. Bear markets on average have bottomed four months before the end of a recession, according to Clissold, of Ned Davis.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere is a period of volatility ahead of us, but it could be short-lived, says Edward Jones' MahajanDavid Kelly, Mona Mahajan and John Bellows join 'Power Lunch' to discuss market reaction to the latest Fed policy update, the dissonance between dot plot findings and the market and the transition from defensive portfolios to recovery portfolios.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJobs market still moderating and Fed will have an excuse to taper rate hikes, says JPM's KellyDavid Kelly, JP Morgan Asset Management chief global strategist, and Mona Mahajan, Edward Jones senior investment strategist, join 'Squawk on the Street' to discuss if Friday's jobs data alters Kelly's soft landing picture, what next year holds for equity markets and more.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with JPM's David Kelly and Edward Jones' Mona MahajanDavid Kelly, JP Morgan Asset Management chief global strategist, and Mona Mahajan, Edward Jones senior investment strategist, join 'Squawk on the Street' to discuss if Friday's jobs data alters Kelly's soft landing picture, what next year holds for equity markets and more.
The Dow Jones industrial average (.DJI) for example had risen more than 10% in the last month and almost 20% since September. "Some of this is just a bit of consolidation from the last few weeks," she said, noting that stocks had taken a leg lower when Treasury yields gained and oil prices switched from red to green on Monday as the prospect of higher oil prices brought inflation concerns back to the forefront. Along with inflation trends, investors are also monitoring Federal Reserve commentary for any clues on its future rate hiking path. Earlier, U.S. crude oil futures had fallen to December 2021 levels on concerns about demand in China - the world's biggest crude importer. A view of a giant display of stock indexes, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China, October 24, 2022.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe expect a relief rally in tech growth sector, says Edward Jones' Mona MahajanMona Mahajan, senior investment strategist at Edward Jones, joins CNBC's 'Squawk Box' to break down her investment strategies ahead of the open.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets are seeing signs of stabilization and bottoming, says Edward Jones' Mona MahajanMona Mahajan, senior investment strategist at Edward Jones, joins CNBC's 'Squawk Box' to discuss how investors should navigate the latest market rally.
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