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New Delhi CNN —The bulldozers and government officials arrived just before dawn, tearing down the row of shanties as its bewildered residents watched inconsolably nearby. CNN has reached out to the New Delhi and federal governments but is yet to receive a response. Rhea Mogul/CNN“I can’t explain how distraught everyone was as they bulldozed the homes,” Savita said. The demolitions are being done with extreme cruelty.”Savita helps her children with homework at a temporary home in Delhi. Modi sees India as a confident and modern superpower, a voice for the voiceless seizing the 21st century.

Persons: ”, Joe Biden, France’s Emmanuel Macron, Rishi Sunak, Rhea Mogul, Narendra Modi, Harsh Mander, Jayanti Devi, Savita, ” Savita, “, ” Mander, Modi, ” Modi, …, ’, ” Devi Organizations: New, New Delhi CNN, ”, British, CNN, Policy Research, Survey, India, ASI, CNN Homeless, Workers, Indian National Congress, Commonwealth Games, Global, “ Locations: New Delhi, “, Devi, Pragati, Rhea, India, Delhi, Mander, Ukraine, United States

☆ In another positive sign for stocks, the trough for earnings this cycle is likely in
▼ + stars: | 2023-09-01 | by ( Fred Imbert | ) www.cnbc.com time to read: +1 min

That's according to analysis by Bank of America, which looked at the changing expectations of Wall Street analysts and historical analysis to determine that the poor second quarter earnings results just reported will be the worst we see this cycle. FactSet data shows S & P 500 earnings fell more than 4% on average from the year-earlier period during the second quarter. It's also the biggest year-over-year earnings drop since the second quarter of 2023. "Absent a collapse in demand, 2Q likely marks the trough in earnings," the report stated. For the full year 2023, Wall Street analysts currently project earnings for S & P 500 companies to post a slight increase, according to FactSet.

Persons: Savita Subramanian, It's, — CNBC's Michael Bloom Organizations: Bank of America, Wall Street

☆ Stocks will try to keep momentum, but September seasonality and other headwinds await
▼ + stars: | 2023-09-01 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Stocks are looking to maintain momentum in the holiday-shortened week ahead even as Wall Street contends with a seasonally weak period for markets ahead of the Federal Reserve's September rate decision. Some technical indicators have investors hopeful the bullish momentum could continue in the week ahead. For example, the major indexes broke above their respective 50-day moving averages this past week — a sign of improving short-term momentum. Central bank policymakers convene for a two-day meeting starting Sept. 19 and announce their interest rate decision Sept. 20. Week ahead calendar All times are ET.

Persons: Sam Stovall, We've, Ryan Detrick, Quincy Krosby, CFRA, —, HSBC's Max Kettner, Savita Subramanian, John Luke Tyner, Carson Group's Detrick, Detrick, FactSet, Kroger Organizations: Dow Jones Industrial, Nasdaq, Wall, Dow, Carson Group, Fed, LPL, Bank of America, Aptus Capital Advisors, Labor, PMI, PMI Services, Consumer Credit Locations: U.S, CFRA, China

☆ Second-quarter earnings recap: Here's what Wall Street is saying about this quarter's winners and losers, and where the market goes from here
▼ + stars: | 2023-08-30 | by ( Mark Reeth | ) www.businessinsider.com time to read: +7 min

Second-quarter earnings season is concluding, giving analysts new data to direct their investments. The second-quarter earnings season is quickly coming to an end, and it's time to tally the wins and losses. Here's what Wall Street is saying about second-quarter earnings, who the biggest winners and losers were, and what today's results mean for tomorrow's market. "Much of the stability in consumer stocks YTD is related to falling inflation and higher asset prices, in our view," Wilson wrote. Lori Calvasina, head of US equity strategy at RBC, also had some thoughts about the earnings season.

Persons: Morgan Stanley, didn't, you'd, Mike Wilson, Wilson, Price, BofA's, Subramanian, Lori Calvasina, Calvasina, Subramanian didn't Organizations: RBC, Bank of America, Tech, Nvidia, Comm . Services, Energy, Real Estate Locations: Comm, Tech

☆ Bank of America: Hedge funds are unusually bullish about these 20 stocks as they brace for tough times in markets
▼ + stars: | 2023-08-26 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Here are 20 stocks that hedge funds are gravitating toward in this uncertain market. Although several economic signals have offered investors reasons for optimism right now, hedge funds can't seem to shake their cautious convictions. Bank of AmericaManagers of hedge funds and long-only funds have shifted toward defensive stocks over the last few years, according to Bank of America. 20 stocks hedge funds love nowWhile hedge funds are playing defense until further notice, that's not to say they're bearish. Below are the 20 stocks that hedge funds are unusually bullish about along with the ticker, sector, and net relative weight in hedge funds for each.

Persons: Savita Subramanian, defensives, Subramanian, that's Organizations: Bank of America, BofA's, Equity Locations: defensives, —

☆ These are the 5 most pressing questions about the bullish 'resilience' thesis of the stock market and the economy
▼ + stars: | 2023-08-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Much of the bullish optimism towards a soft-landing scenario in the economy hinges on this continued resilience. These are the five most pressing questions investors should be asking about the sustainability of such resilience. But as sentiment towards the economy shifts from bearish to bullish and a potential soft-landing-no-recession scenario, there are lingering questions as to whether the resilience of the all-important consumer can continue. Bank of America's Savita Subramanian highlighted in a Friday note the five most pressing questions investors should be asking about such resilience and its ultimate impact on the stock market and economy. Can consumer resilience last with rates this high?

Persons: America's Savita Subramanian, Jobs, Subramanian, Russell Organizations: Service, Bank, America's, Bank of America Locations: Wall, Silicon, bearish, Silicon Valley, Tech

☆ Companies are spending less on buybacks and investing more. How the trend is playing out for our stocks
▼ + stars: | 2023-08-09 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

Meanwhile, S & P 500 companies are spending more and more on capital expenditures (CapEx). Certainly, some companies execute wise buybacks, while others are not as ideal. Humana repurchased $529 million worth of common stock in the second quarter, after spending only $4 million in the year-ago period. Of course, companies also must consider their spending on buybacks versus investments back in the business in order to support growth, such as new manufacturing equipment or data centers. But less spending on buybacks is not necessarily something to worry about.

Persons: BofA, Savita Subramanian, Wells, Wells Fargo, Caterpillar Morgan Stanley, Halliburton Emerson, Eli Lilly, Emerson, we've, It's, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: of America, GE Healthcare, Caterpillar, Humana, Halliburton, HAL, Humana . Halliburton, Bank, Microsoft, Linde, LIN, Natural Resources, Honeywell, Halliburton Emerson Electric, Ford, Procter, Gamble, Coterra, Bank of America, Bank of, Jim Cramer's Charitable, CNBC, Getty Locations: U.S, Wells Fargo, Wells

☆ Bank of America: Make these 35 cheap options trades now to profit from earnings surprises this week
▼ + stars: | 2023-07-26 | by ( Mark Reeth | ) www.businessinsider.com time to read: +2 min

Earnings season is underway, and investors can use options to profit from beats and misses alike. Bank of America compiled a list of 35 buy-rated stocks reporting earnings in the coming days. Earnings season is in full swing, which means earnings surprises have begun to crop up — giving investors an opportunity to profit. In a separate note published on July 24, Subramanian outlined her strategy for how to position for earnings surprises, either positive or negative, using options. Second, she contrasted Bank of America's EPS estimates with consensus estimates heading into earnings season.

Persons: Subramanian, Russell, Russel Organizations: Bank of America

☆ The Fed needs the economy to slow from here. These funds could outperform
▼ + stars: | 2023-07-26 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +4 min

And while Fed Chair Jerome Powell said that the central bank's staff does not predict a recession, he did say that the economy will need to further slow in order to defeat inflation. "We have seen the impact, but not to the extent that the market expected or the Fed expected. He pointed to the iShares MSCI USA Quality Factor ETF (QUAL) and the JPMorgan U.S. Quality Factor ETF (JQUA) as funds that are capturing some of the market rally without adding outsized risk. Those are growth-oriented defensive equities with strong balance sheets, high revenue growth, which is what investors seek during slow revenue or slow economic environments," Smith said. QUAL YTD mountain This quality factor ETF has risen more than 20% this year.

Persons: Jerome Powell, Powell, Venkat Balakrishnan, Savita Subramanian, Andrew Smith, Smith, Charles Champagne Organizations: Federal, " Bank of America, Delos Capital Advisors, CNBC, JPMorgan U.S, Quality, Visa, Mastercard, of America, Investors, Bank of America Locations: U.S, Dallas

☆ Why better-than-expected earnings this reporting season may have trouble boosting market further
▼ + stars: | 2023-07-13 | by ( Bob Pisani | ) www.cnbc.com time to read: +5 min

They are very high, and that may prevent stock prices from moving forward even if earnings reports exceed estimates. The earnings "apocalypse" — the collapse in earnings that many feared would be coming along with a serious recession in 2023 — has not materialized. What this means is that the price of the S & P 500 has gone up to due multiple expansion, not because earnings estimates have been rising dramatically. Bottom line: The S & P 500 at 4,400 with forward earnings at $230 today (19.2 multiple) is not nearly as appealing as the S & P was in January, when it was at 3,800 with forward earnings at $220 (17.2 multiple). It's the easiest path to get the overall market higher.

Persons: Savita Subramanian, —, Chris Harvey, Wells, Nick Raich, Nicholas Colas, DataTrek Organizations: BofA Securities, Delta, Microsoft, Nvidia, P Technology, Big Tech Locations: Wells Fargo

The bullish view Just four of the 15 strategists expect the S & P 500 to end the year higher than current levels, albeit very slightly. He expects the S & P 500 to end the year at 4,500 — up 2.3% from its current level. Instead, Peng said the S & P 500 's performance will likely broaden over the second half of this year. She expects the S & P 500 to remain flat by the end of the year at 4,300. UBS expects the S & P 500 to end the year at 4,100 — a drop of 7% from current levels.

Persons: Stocks, BlackRock Karim Chedid, Jerome Powell, Karim Chedid, Chedid, Chadha, Charles Schwab Liz Ann Sonders, Ken Peng, Peng, Savita Subramanian, Andreas Bruckner, Liz Ann Sonders, Charles Schwab, Matt Rowe, Mark Haefele, Christian Abuide, Sameer Samana, Rowe, Wouter Sturkenboom, Sturkenboom Organizations: CNBC Pro, Investment, iShares EMEA, BlackRock, Reserve, Deutsche Bank, Citi Global Wealth Investments, Big Tech, Bank of, Equity, Nomura, UBS Global Wealth Management, Federal Reserve, UBS, Lombard, RBC Wealth Management, U.S, Global Market, Wells, Wells Fargo Investment, Nomura Private Capital, EMEA, APAC, Northern Trust, Wells Fargo Investment Institute Locations: U.S, Asia, Europe, Wells Fargo, Northern, Samana

Tech stocks led the way higher for the market in the first half. Bank of America expects other names to join in on the rally during the second half. The first half of 2023 was the best for the S & P 500 since 2019, surging 15.9%. Only 25% of stocks outperformed the broader market index, according to Savita Subramanian, the bank's head of U.S. and quantitative strategy. The Invesco S & P 500 Equal Weight ETF (RSP) , which tracks a version of the S & P 500 in which stocks are weight equally rather than by market cap, is up just 5% year to date.

Persons: Dow Jones, Savita Subramanian, Subramanian, CNBC's Michael Bloom Organizations: Bank of America, Dow, RSP Locations: St

☆ Bank of America's top stock picks for the third quarter
▼ + stars: | 2023-07-04 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Bank of America is out with its latest short-term stock picks as the third trading quarter of the year gets underway. "Over the last quarter, the BofA Macro view has evolved," strategist Anthony Cassamassino wrote in a note Monday. Bank of America gathered its 10 best ideas for the new quarter, all of them buy-rated, Cassamassino said. The bank also sees multiple growth drivers this year and improvements in merchandise margins as cost inflation and freight expenses normalize. Its $135 price target on the stock is more than 50% above its closing price Friday.

Persons: Anthony Cassamassino, Savita Subramanian, Michael Hartnett, Michael Gapen, Stephen Suttmeier, Cassamassino, it's, Lamb Weston, Wells, defensibility Organizations: of America, U.S, Our U.S . Economist, " Bank of America, Body, Bank of America, Disney, Wells Fargo Locations: Our

☆ Here's another reason that the market could post a huge rally in the second half
▼ + stars: | 2023-07-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

History has some more good news when it comes to what the stock market could have in the store for the second half of 2023. So, the market's robust first half, in which the S & P 500 posted a nearly 16% gain, presents a strong case for a good second half if history repeats itself. But this market has one more thing going for it: A good first half following a bad 2022. "2023 YTD has not lived up to investors' bearish expectations," Stephen Suttmeier, technical research strategist at Bank of America, said in a client note. .SPX YTD mountain SPX year to date To be sure, history offers no guarantees.

Persons: YTD, Stephen Suttmeier, Suttmeier, Savita Subramanian Organizations: Bank of America, Federal

☆ Wall Street titans including David Rosenberg and Rob Arnott sound off on AI: What they told us about the disruptive technology — from how it will lead to 'permanent displacement' of jobs, to why it's
▼ + stars: | 2023-06-28 | by ( William Edwards | ) www.businessinsider.com time to read: +11 min

AI's impact on the job marketRob Arnott"Every important disruption since the start of the industrial revolution has cost millions of people jobs. Millions of jobs will be lost to those who know how to use AI. "The implications of generative AI on the labor market will be one of upheaval and one of escalating job uncertainty. Are AI stocks in a bubble? Rosenberg"Advancements in AI technology, and its knock-on effects on profitability and productivity, is a legitimate investment thesis.

Persons: David Rosenberg, Rob Arnott, Savita Subramanian, Cam Harvey, Jawad Mian, Jobs, Merrill Lynch, aren't, Rosenberg, Harvey, Arnott, Brad Cornell, Aswath, There's, that's, Savita, –, capex, Mian Organizations: Industries, Investors, Research, Rosenberg Research, North, Bank of America Securities, Duke University, Microsoft, Nvidia, Google, Tech, Software, Services, Professional Services, IT Services Locations: North American, ChatGPT, Asia, Taiwan

☆ Jerome Powell says the Fed is still 'very far' on inflation
▼ + stars: | 2023-06-22 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Fed Chairman Jerome Powell testified before the House, central bank nominees are talking to the Senate, and the Washington Wizards traded away their star hooper. Powell spoke before the House Financial Services Committee yesterday following 10 consecutive interest rate hikes and one rate "skip" that the Fed chief made sure to clarify wasn't a "pause." "Given how far we've come, it may make sense to move rates higher but to do so at a more moderate pace," Powell said Wednesday. So far, the economy has been more resilient than expected, even as the fed funds rate hovers in the 5% to 5.25% range. US stock futures fall early Thursday, after Federal Reserve Chair Jerome Powell said more rate hikes are likely ahead.

Persons: I'm Phil Rosen, Jerome Powell, hooper, Anna Moneymaker, Powell, that's, Patrick McHenry, Tesla, Goldman Sachs, there's, Julia La Roche, Ed Yardeni, isn't, BofA's Savita Subramanian, Apple isn't, Read, Phil Rosen, Jason Ma, Hallam Bullock, Nathan Rennolds Organizations: Senate, Washington Wizards, Financial Services, Fed, Nvidia, Apple, Business, Federal, Accenture, Volex, Bank of America, . Locations: New York, Los Angeles, London

☆ 'The market is more rational than its been in a decade', says BofA's Savita Subramanian on her bullish outlook
▼ + stars: | 2023-06-20 | 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 Email'The market is more rational than its been in a decade', says BofA's Savita Subramanian on her bullish outlookSavita Subramanian, BofA Securities head of U.S. equity & quantitative strategy, joins 'Fast Money' as a special guest trader to discuss her bull case for stocks, top market plays, and more.

Persons: BofA's Savita Subramanian, Savita Subramanian Organizations: BofA Securities

☆ BofA top equity strategist Savita Subramanian takes most bullish position in at least 10 years
▼ + stars: | 2023-06-20 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

"Most of the S & P 500 is actually generating free cash flow." Last month, Subramanian hiked her S & P 500 year-end target 7.5% to 4,300, with a range as high as 4,600. But I think there are parts of the S & P 500 that look incredibly attractive." She contends that mega-cap stocks are obscuring investment opportunities in the S & P 500 right now. "There are value opportunities, but they're right now being obscured by this sort of AI bubble."

Persons: Subramanian, We're, we've, it's Organizations: of America Securities, Big Tech

☆ BofA’S Savita Subramanian delivers her bull case for stocks
▼ + stars: | 2023-06-20 | 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 EmailBofA’S Savita Subramanian delivers her bull case for stocksSavita Subramanian, BofA Securities head of U.S. equity & quantitative strategy, joins 'Fast Money' as a special guest trader to discuss her bull case for stocks, top market plays, and more.

Persons: Subramanian Organizations: BofA Securities

☆ BofA's Hartnett admits 'bears like us have been wrong,' sees these conditions ahead
▼ + stars: | 2023-06-16 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Bank of America chief investment strategist Michael Hartnett has joined his colleagues in admitting he was too pessimistic in his outlook for stocks this year. In his weekly note to clients examining the flow of money through the market, Hartnett took a jab at himself, labeling his outlook the product of "A Bear of Very Little Brain." Further, he outlined several reasons why "bears like us have been wrong" in the first half of 2023. On the economy, "nominal GDP remained super-charged by fiscal stimulus/war, labor" while the labor market was "impervious to monetary policy in post-pandemic world," Hartnett wrote. These include deflation, emerging market stocks and "hard-landing plays" such as REITs and commercial real estate, banks, small-cap stocks, oil and China.

Persons: Michael Hartnett, Hartnett, BofA, Savita Subramanian Organizations: of America, Silicon Valley Bank, Fed & US, Federal Reserve, Treasury, Labor Locations: Silicon, China

☆ Why the new bull market is headed for more Fed stress after a rate hike pause
▼ + stars: | 2023-06-11 | by ( Natalie Rose Goldberg | ) www.cnbc.com time to read: +10 min

And even if the Fed does pause, Ferguson says it doesn't mean that more rate hikes aren't coming over the rest of the year. He isn't alone in the view that a Fed pause won't last long. This view is underpinned by, among other things, a labor market that continues to be tight. Others see recent cooling the labor market as a signal the Fed may soon have more need to moderate its rate hike strategy. "The broad picture here is the labor market is cooling in a sustainable way.

Persons: Savita Subramanian, Roger Ferguson, That's, Ferguson, CNBC's, isn't, Michelle Girard, Steve Liesman, Dennis Lockhart, Lockhart, Fed's, Jerome Powell, Brendan McDermid, — Ferguson, Wharton, Jeremy Siegel, Siegel, Jerome Powell's, Rucha Vankudre, Nick Bunker, Bunker, Goldman Sachs, David Solomon —, Solomon, Goldman, Frederic Mishkin, it's, Mishkin, we've Organizations: Federal Reserve, Dow Jones, NASDAQ, Bank of America, Fed, NatWest Markets, Atlanta Fed, Traders, New York Stock Exchange, CNBC, Conference Board, Labor, Lightcast, Former Fed, Bank of Canada, Reserve Bank of Australia Locations: U.S

☆ 'New bull market has legs': These are the 5 questions investors should ask now that the bear market is officially over
▼ + stars: | 2023-06-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

There's more upside left in stocks after a new bull market started on Thursday, according to Bank of America. These are five questions investors should ask now that the bear market is officially over, according to BofA. Additionally, stocks do well after the 20% bull market threshold is reached, based on historical data. These are the five things investors should ask now that the bear market is officially over and a new bull regime has begun, according to BofA. The equal-weighted S&P 500 could yield double the returns of the S&P 500 index based on various signals.

Persons: BofA, —, Savita Subramanian, Subramanian, That's, bullish Organizations: Bank of America, Service, Bank of, Investors, Tech Locations: BofA

☆ As chatter of a new bull market grows, there are reasons why it still doesn't feel that way
▼ + stars: | 2023-06-09 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

A new bull market? The S & P 500 is trading Friday morning above its recent 52-week closing high of 4,305, which it hit on Aug. 16, 2022. These are the kind of stats that were discussed: While the S & P 500 is up 11.8% year to date, the equal-weight S & P 500 (RSP), which is the "average stock," is up a measly 2.9%. While the S & P 500 is 20% above its recent low, about one-third of the S & P 500 (about 160 stocks) remain 20% below their 52-week high. While we are all waiting for it to start to feel like a bull market, the market this week has begun to broaden out a bit.

Persons: I'm, Piper Sandler, Gary Gensler's, Bank of America's Savita Subramanian Organizations: Piper, Piper Sandler Global Exchange, SEC, Bank of America's

☆ Bank of America turns bullish on stocks and recommends these strategies
▼ + stars: | 2023-06-09 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

After being one of the most prominent bears on Wall Street, Bank of America has changed its tune on stocks and sees pockets of select opportunities ahead. The firm's equity team has not changed its year-end S & P 500 target — it still sees the large-cap index finishing around 4,300, which implies little movement from the Thursday close of 4,293.93. "The bear market is officially over," Savita Subramanian, BofA's equity and quant strategist, said in a client note Friday. The firm also recommends strong-divided companies as "we are returning to a total return world." "We believe we are back in bull territory, which might be part of what it takes to get investors enthusiastic about equities again," Subramanian said.

Persons: Savita Subramanian, Subramanian, BofA Organizations: Bank of America, Federal Reserve

☆ Here's exactly where 6 top investment firms recommend putting your money right now as US stocks start to break out
▼ + stars: | 2023-06-08 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

It has a market-weight rating on six sectors: consumer discretionary, energy, industrials, information technology, materials, and real estate. Goldman SachsGoldman's favorite sectors haven't changed since late April: it's still overweight consumer staples, energy, healthcare, and communication services. Morgan StanleyMorgan Stanley's top sectors are consumer staples, healthcare, and utilities, which reflects its defensive outlook about stocks. The firm is neutral about communication services, energy, financials, industrials, materials, real estate, and tech (excluding cyclicals). It has a neutral "perform" rating on almost all other sectors, including communication services, consumer staples, energy, financials, healthcare, materials, and real estate.

Persons: — Goldman Sachs, Morgan Stanley, Oppenheimer, Truist —, BofA, Savita Subramanian, Goldman Sachs, it's, Morgan Stanley Morgan Stanley's Organizations: Investors, Bank of America, BMO Capital Markets, Tech Locations: Charlotte

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