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S&P 500 futures and Nasdaq-100 futures also both traded down almost 0.1%. The moves follow a winning session on Wall Street as investors bet interest rate hikes were coming to an end after the Federal Reserve announced it would not increase rates at its meeting this week. Up nearly 3%, the S&P 500 is on pace to notch its best weekly performance since March. However, expiration week often tends to be higher during bull markets and lower in bear markets, according to the Stock Trader's Almanac. That may bode well at least for the S&P 500 and Nasdaq Composite, which are posting strong weeks thus far.
Persons: Dow, Sam Stovall, bode Organizations: New York Stock Exchange, Stock, Federal Reserve, Dow Jones Industrial, Nasdaq, Virgin Galactic, Adobe, Wall, CFRA Locations: New York City, UnitedHealth
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOptions Action: Traders looking for Nvidia to continue rally through FridayKris Sidial, Ambrus Group co-CIO, joins CNBC’s Melissa Lee and the Fast Money traders to talk Nvidia's stock rally and trader's continued bullishness around the company.
Persons: Kris Sidial, Melissa Lee, trader's Organizations: Nvidia, Ambrus, Fast
That year, the stock market was making headlines due to investors' excitement about internet companies. He wanted to bet on the stock market with his Bar Mitzvah money of roughly $12,000. At the time, there was no pattern day trading rule, which meant he didn't need a minimum of $25,000 to day trade. "My best-performing strategy right now is over the weekend because the stock market is closed over the weekend. The uneasiness that comes with having an income pegged to the stock market never goes away.
Persons: Timothy Sykes, Sykes, Norman Zadeh, Jack Kellogg, Kyle Williams, it's, Roe, Wade Organizations: United States, Evofem Biosciences, Tesoro Enterprises, Stocks, Cilantro, Partners, Wall Street Warriors Locations: Illinois
CNBC Daily Open: Congratulations on getting through May
  + stars: | 2023-06-01 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +1 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. The old Wall Street adage to sell in May and go away held true this year — aside from AI-related stocks, that is. Cryptocurrency might want to divorce itself from traditional financial systems, but it can't escape the gravitational pull of Wall Street. Subscribe here to get this report sent directly to your inbox each morning before markets open.
Persons: Dow, Walt, Cryptocurrency, Bitcoin Organizations: CNBC, Dow Jones, Nasdaq, Dow, Nike, Walt Disney, Chevron, Nvidia, The
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. For the month, the S&P inched up 0.3%, the Dow sank 3.5% and the Nasdaq jumped 5.8%. Stock futures mostly ticked down Wednesday night even after the House passed the bill to suspend the debt limit. Subscribe here to get this report sent directly to your inbox each morning before markets open.
Persons: Kevin McCarthy, Dow, Walt, Cryptocurrency, Bitcoin Organizations: U.S, Capitol, Washington , DC, CNBC, Dow Jones, Nasdaq, Dow, Nike, Walt Disney, Chevron, Nvidia, The Locations: Washington ,
It's almost time to part with the Nasdaq Composite as the tech-heavy index approaches a typically weak period, according to the Stock Trader's Almanac. In pre-election years, June is an even better month for the Nasdaq, averaging at a 2.4% gain. "Over the last 52 years June has shone brighter on NASDAQ stocks as a rule. From July 1 through Oct. 31, the Nasdaq averages a gain of just 0.2%, the Almanac pointed out. Both indexes average more muted returns during that period, leading to an old Wall Street adage that says, "Sell in May and go away."
Persons: NASDAQ's, pare, Michael M Organizations: Nasdaq, NASDAQ, Dow Jones Industrial, Traders, New York Stock Exchange, Santiago, Getty
"The overhangs on the market this year [are] the debt ceiling negotiation, hawkish Fed commentary and a banking crisis. It appears we are going to get a debt ceiling deal over the weekend, which should help the market to stabilize." The problem for many on the Street is the action in the S & P 500 Tech Index, up more than 5% this week; the Nasdaq Composite , ahead about 2.5%; and the S & P 500 , with a 0.3% gain, masks so much weakness beneath the surface. The S & P 500 consumer staples, materials, health care and utilities were all down between 2.4% and 3.2% this week, and the Dow Industrials were lower 1%. Although the S & P 500 is 9.5% higher so far in 2023, only a few stocks are doing well. "
So they sold their belongings, bought a boat and set off to sail around the world, despite having no sailing experience, he said. He called trading the "perfect" job for full-time travel because "all I need is a laptop, an internet connection, and I can be anywhere in the world." Source: BumfuzzleDuring their first trip around the world, Schulte said he and his wife kept track of every dollar they spent, which averaged about $3,100 a month. "Plus, there's not always something to do — we're not day trading … so there's plenty of talk about life and travel." The Schulte family approaching the Marquesas Islands after spending 21 days at sea crossing the Pacific Ocean.
LONDON, May 16 (Reuters) - Buying Teck Resources' (TECKb.TO) coal business as a standalone unit is a "distant second" for Glencore (GLEN.L) and Teck should not leave out the Swiss miner if it keeps pursuing its separation plan, boss Gary Nagle told the Bank of America conference in Barcelona on Tuesday. Teck has rebuffed the Swiss miner and trader's $22.5 billon offer to combine the two companies, instead pursuing plans to separate its copper and coal business. Glencore's plan would combine and spin off its thermal coal unit and Teck's steelmaking coal business. As part of its proposal, Glencore has offered up to $8.2 billion in cash to Teck shareholders who may not want exposure to thermal coal, the most polluting fossil fuel. Reporting by Clara Denina, additional reporting by Pratima Desai; editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.
Good news for markets next week: no default, no credit agency downgrade, no apocalypse. Worrying 2011 precedent Recent history tells investors that stocks will move more violently during a debt ceiling standoff. Retail sales update Debt negotiations aside, investors get updates next week on the state of American consumer spending when April retail sales are reported Tuesday alongside earnings from Home Depot. Deutsche Bank estimates that April retail sales expanded month over month by 0.7%, the market consensus. Credit Suisse is less optimistic, forecasting that April retail sales grew by 0.6%, but, excluding vehicles, were unchanged.
SummarySummary Companies Investors seeking more information on thermal coal plansGlencore calls on shareholders to reject resolutionLGIM's Marks says 'fundamental lack of willingness to engage'LONDON, May 5 (Reuters) - Investors pushing for more transparency on miner Glencore's (GLEN.L) thermal coal production said its decision not to support a shareholder resolution on the topic showed a "fundamental lack of willingness to engage". Unlike its peers, Glencore mines and trades thermal coal, the fossil fuel used to generate electricity. It has said it plans to responsibly run down its coal mines by the mid-2040s, closing at least 12 by 2035. "There is a fundamental lack of willingness to engage," said Michael Marks, LGIM's Head of Investment Stewardship and Responsible Investment Integration. Just 24% of investors voted against Glencore's climate progress report at the miner and trader's 2022 AGM, with some citing slow progress in scaling back coal production.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple needs to show strong forward guidance, says Northman Trader's Sven HenrichSven Henrich, Northman Trader founder, joins 'Closing Bell: Overtime' to discuss the technicals on Apple.
There's an old Wall Street adage that urges investors to "sell in May and go away" — but CFRA Research says there's an even smarter way to play the market this spring. According to the Stock Trader's Almanac , the worst six months of the year for the S & P 500 starts in May and runs through October. The strategist says traders can look toward defensive names during the May slump, instead of entirely exiting the market. Indeed, since 1990, while the entire S & P 500 gained 6.7% annually, average price gains from equal exposure to these four sectors returned 9.0%. The stock almanac's editor, Jeff Hirsch, said that reducing long exposure and adopting a defensive stance will pay off for investors during the low period.
More than one third (35%) of the S & P 500 reports earnings next week — including megacaps Microsoft, Alphabet, Meta Platforms and Amazon — versus less than 12% in the week just ended and only 2% last week. So far this quarter, S & P 500 earnings are running 4.7% below the same period a year ago, Refinitiv data shows. Back then, the S & P 500 fell 19.4% from its April high to a low on October 3. Meanwhile, next week is the last full trading week before Wall Street's old adage to "sell in May and go away" takes hold. ET: FHFA Home Price index (February); S & P Case-Shiller home price indexes (February) 10:00 a.m.
Next week's market action could be dictated by how well the latest quarterly reports from corporate America are received. Expectations about the immediate earnings outlook have been down for so long, the actual numbers themselves could look like up to investors. Earnings for all financials in the S & P 500 are actually expected to expand in the first quarter by 4.3%. ET: NAHB Housing Market Index (April) Earnings: Charles Schwab, M & T Bank, State Street, J.B. Hunt Transport Tuesday 8:30 a.m. ET: Philadelphia Fed President Patrick Harker speaks on the economic outlook Earnings: AT & T, American Express, D.R.
S&P 500 and Nasdaq on pace to snap three-week win streaks
  + stars: | 2023-04-05 | 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 EmailS&P 500 and Nasdaq on pace to snap three-week win streaksDavid Harden, CEO and CIO of Summit Global Investments, and Jeff Hirsch, editor-in-chief of Stock Trader's Almanac, join CNBC's "The Exchange" to break down Wednesday's market action.
Since the height of the financial crisis three weeks ago, the S & P 500 is up over 300 points, roughly 8%. Not surprisingly, the rest of the year is almost invariably a strong year. When the S & P 500 advances 7% or more in the first quarter, it's up an average 23% for the full year. April: spring shoots Best month for Dow Industrials: average 1.9%. advance Up 16 straight from 2006 to 2021 End of "best six months" strategy Source: Stock Trader's Almanac
By comparison, the Dow has gained around 0.7% in an average month since 1950. April has historically been the second best month for the S & P 500 and fourth best for the Nasdaq Composite (and second best for Russell 1000 and third best for the Russell 3000). More good news: The Aprils of previous pre-election years have posted an even stronger average performance. Lately, the Dow Industrials have exhibited strength following the tax filing deadline, per the Almanac, which falls on April 18 this year. A March advance would mark a reversal from February, when the Dow Industrials lost 4.2% and briefly gave up all of its early 2023 gain.
The stock market is about to enter one of the seasonally strongest months of the year, but volatility could persist in the week ahead with fading momentum and a big jobs report. The stock market is closed that day to observe Good Friday. Week ahead calendar Monday 10:00 a.m. Construction Spending, Feb. 10:00 a.m. ISM Manufacturing, March Tuesday 10:00 a.m. Factory Orders, Feb. 10:00 a.m. JOLTS, Feb. Wednesday 7:00 a.m. Mortgage Applications 8:15 a.m. ADP, March 8:30 a.m. Trade Balance, Feb. 10:00 a.m. ISM Service, March Thursday Earnings: Constellation Brands 8:30 a.m. Initial claims Friday The stock market is closed for Good Friday 8:30 a.m. Nonfarm Payrolls
Why, then, has Dimon been so willing to swing back into action in the wake of Silicon Valley Bank's collapse? But it's starting to look like JPMorgan — and Dimon — will end up winners no matter how things turn out. In backstopping First Republic, JPMorgan helps a client and a bank that experts say would fit nicely into its business. By saving First Republic, JPMorgan also stands to gain goodwill from Silicon Valley startups, which are customers of the smaller bank. The paper also reported that regulators asked Dimon, Bank of America, and other banks to buy Silicon Valley Bank and pay out depositors over the insured limit.
Options Action: Huge bet on volatility
  + stars: | 2023-03-15 | 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 EmailOptions Action: Huge bet on volatilityBrian Stutland of Equity Armor Investments on an options trader's huge bet that volatility could pull back. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Karen Finerman, Steve Grasso and Guy Adami.
BEIJING, March 13 (Reuters) - Oil prices ticked up in Monday's Asian trade, reversing a weak start as a recovery in Chinese demand and a weaker dollar provided support to a market rattled by the prospect possible further U.S. interest rate increases. After initially slipping in early trading, Brent crude futures were up 25 cents, or 0.30%, to $83.03 per barrel by 0700 GMT. West Texas Intermediate crude futures (WTI) ticked up by 23 cents, or 0.30%, to $76.91 a barrel. A weaker dollar makes oil cheaper for holders of other currencies, lending support to oil prices. Comments on Sunday from Saudi Aramco CEO Amin Nasser on crude demand from China also provided some support.
Oil prices tick up on China demand and weaker dollar
  + stars: | 2023-03-13 | by ( ) www.reuters.com   time to read: +3 min
BEIJING, March 13 (Reuters) - Oil prices ticked up in Monday Asian late morning trade, reversing a weak start as a recovery in Chinese demand and a weaker dollar provided support to a market rattled by the prospect possible further U.S. interest rate increases. West Texas Intermediate crude futures (WTI) ticked up by 20 cents, or 0.26%, to $76.88 a barrel. "From an oil trader's perspective, the U.S. dollar should pull back as traders give up on a re-acceleration of Fed hikes; this, in turn, clears a path for more robust Chinese fundamentals to dominate commodity trading," Innes added. A weaker greenback makes oil cheaper for holders of other currencies, lending support to oil prices. Comments on Sunday from Saudi Aramco CEO Amin Nasser on crude demand from China also provided some support.
Turnberry Ocean Club ResidencesInside the Sky Club's fitness center where the treadmills come with impressive views. Turnberry Ocean Club ResidencesOutdoor sunset lounge Turnberry Ocean Club ResidencesAlso up on 32nd floor is a so-called dog retreat where lucky pooches can take in the ocean views and relieve themselves. Turnberry Ocean Club Residences / Leo DiazThe kitchen includes three islands and comes equipped with custom Italian-made cabinetry and high-end German appliances. A rendering of one of the Turnberry Ocean Club Residences' beach front cabanas. Turnberry Ocean Club Residences
Wizardry aside, let's see why the stock market has proved so resilient this year, even though the economy's providing nothing to cheer for. DataTrek cofounder Nicholas Colas is chalking up stable markets to strong earnings. "The only explanation that makes sense to us for this conundrum of 'bad' news and stable markets is that US corporate earnings power remains resilient," Colas wrote in a Thursday note to clients. Even as markets act like everything's fine, there's still not quite enough optimism among investors to say that markets are nearing a peak, according to Ned Davis Research. A top-ranked stock-picker said January's hot CPI report suggests the stock market is far from the bottom.
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