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Search resuls for: "— CNBC's Gina Francolla"


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Wharton's Jeremy Siegel says the U.S. economy is 'cooking'
  + stars: | 2023-10-02 | by ( Brian Evans | ) www.cnbc.com   time to read: +2 min
Even as higher bond yields rattle equity markets, the U.S. economy remains strong overall, said economist and Wharton professor Jeremy Siegel. "I think this economy is cooking," Siegel told CNBC's " Squawk on the Street " on Monday. "I know economic surprises, some of them have been negative but on the whole, we have a strong economy." Siegel added that higher bond yields have been pressuring the equity market, and investors now view them differently in an inflationary environment. He also pointed out that the latest jobless claims data, which showed initial claims of 204,000 for the week ending Sept. 23, still suggests strength in the economy.
Persons: Jeremy Siegel, Siegel, CNBC's, Freddie Mac, That's, — CNBC's Gina Francolla Organizations: Treasury, Federal Reserve Locations: U.S
The U.S. dollar crossed another key milestone after the Federal Reserve reiterated its commitment to higher rates, and that could create pressure elsewhere in the global economy. The dollar index hit its highest level since March 9 on Thursday, pushing its 50-day moving average above its 200-day counterpart. That milestone for the moving averages is known as a "golden cross," which typically leads to the dollar climbing further in the coming months, according to Bank of America. The latest leg higher for the dollar appears to be related to the Federal Reserve. A stronger dollar could be bad news for the global economy, where some countries have been struggling relative to the U.S. already.
Persons: Paul Ciana, Ciana, — CNBC's Gina Francolla Organizations: U.S, Federal Reserve, Bank of America Locations: U.S
There could be better-than-expected uptake in residential solar energy — and that can mean good news for some stocks in the space, according to JPMorgan. "We believe the survey results signal that homeowner interest for adding residential solar systems is stronger than currently low investor sentiment and recent under performance of residential solar stocks indicates," he said. Long-term investors can find value in high-quality residential solar as the market gains favor over time, he said. He pointed to Sunrun , Sunnova , Enphase and Solaredge as good picks in the area. Ultimately, the survey showed that homeowners interested in solar will likely install it, but it may not be a near-term decision.
Persons: Mark Strouse, That's, Strouse, — CNBC's Gina Francolla, Michael Bloom Organizations: JPMorgan, Analysts, Technologies, Shoals Technologies
A pair of exchange-traded bond funds popped Wednesday as investors flee stocks in search of safety. The Vanguard Total Bond ETF (BND) and the iShares Core U.S. Aggregate Bond ETF (AGG) each leapt by as much as 1.4% Wednesday morning. Investors sought safety in Treasurys , with yields dropping as traders bought up the issues. Corporate issues in BND include Amazon , AbbVie and Alphabet , while AGG holds bonds from Morgan Stanley , Bank of America and JPMorgan Chase .
It has been a strong fourth quarter for the S & P 500 — and its leading stocks are poised for even larger gains. The S & P 500 is on pace to end the quarter up 6.2%, through Thursday's market open. As a result, the benchmark S & P 500 index will see its first quarterly advance this year, limiting the full-year loss to a little less than 20%. CNBC Pro looked at the 10 best performing stocks in the index this quarter, using data from FactSet through Wednesday's close. But the average analyst expects the price to be little changed over the coming year.
Stocks may be careening toward their worst year since 2008, but some names are completing a remarkable run after doubling or more in 2022. In 2022, the Dow Jones Industrial Average has lost 8.4%, while the S & P 500 shed 19.2%. These stocks are up more than 100% this year, and include tankers for petroleum products, energy companies such as coal firms, and biotech and pharmaceutical names, according to CNBC. Ardmore Shipping and Scorpio Tankers were the top tanker stocks, both up about 316% for the year. Energy companies came out on top in 2022 following a surge in oil and gas prices — which market participants say will remain elevated given expectations of tight supply ahead.
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