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The final month of the year is typically a good month for the stock market. The S & P 500 could rise to about 6,081, from where it closed last week at 6,032.38. That means the S & P 500 would top 6,100, according to Johnson, who sees small-cap and midcap stocks as primary beneficiaries of the broadening rally. This means the S & P 500 could end the year around 6,140. On average, the S & P 500 gains 1.6% during this period.
Persons: Craig W, Johnson, Piper Sandler, SPX, Oppenheimer's Ari H, Wald, CFRA's Sam Stovall, Roth, JC O'Hara, Santa Claus, bode, Jonathan Krinsky Organizations: Dow Jones Industrial, Dow Locations: Santa
The weeks heading into year-end often mark a bullish time for stocks, and smaller companies especially might be poised for outperformance. With that in mind, Jeffrey Hirsch, editor-in-chief of the Stock Trader's Almanac, believes investors should buy small caps from the Tuesday before Thanksgiving this year and hold them until Jan. 3rd, 2025. The tendency for small caps to outperform large caps from mid-December through January, combined with the so-called Santa Claus rally right around Christmas, can bolster small-cap growth stocks, Hirsch said. That rally "rhymes with the post-2016 election move," according to John Hancock Investment Management co-chief investment strategist Emily Roland. He's really focused more on the food companies, eating healthier, vaccine companies and just making sure they're held to the same standards."
Persons: Jeffrey Hirsch, Jan, Hirsch, Santa Claus, Donald Trump's, Russell, What's, Emily Roland, Julie Biel, Kayne Anderson, Biel, Gregg Fisher, Matt Unger, Robert F, Kennedy Jr, Unger, they're Organizations: Stock, CNBC, Regional Banking, John Hancock Investment Management, Quent, Osterweis Opportunity, Trump, Department of Health, Human Services, RFK Locations: Santa
A Santa Claus rally, and a strong seasonal month for stocks, can push stocks to new all-time highs by year-end, according to the Stock Trader's Almanac. That helped the S & P 500 notch a more than 25% yearly advance, with the Nasdaq rising more than 27%. "We expect more new all-time highs before yearend," he wrote. .SPX 1D mountain S & P 500 Seasonally speaking, December is already the third-best month of any year for the major averages, according to the Almanac. Typically, the S & P 500 gains 1.3% on average during this period, in data going back to 1969.
Persons: Santa Claus, Stocks, Donald Trump, Scott Bessent, Dow, Jeffrey A, Hirsch Organizations: Dow Jones Industrial, Key Square, Nasdaq, Stock, Dow Locations: Santa
Stargazers are in for quite the double feature this weekend: The Beaver Moon, the last supermoon of the year, will share the celestial stage with the dazzling Leonid meteor shower. The Beaver Moon will reach the crest of its full phase at 4:29 p.m. And as the Beaver Moon is rising, spectators might glimpse a "moon illusion," a period of time where the supermoon could look even bigger than normal due to an optical illusion. The Beaver Moon was named after the time of year when beavers begin hibernation. While the best viewing period will be over the weekend, the Leonids will be visible until the meteor shower ends on Dec. 2.
Persons: Preston Dyches Organizations: NASA, American Meteor Society Locations: North America
CNN —November’s full moon, otherwise known as the beaver moon, will shine bright in the sky on Friday as the last supermoon of the year. In addition to observations from Earth, current space missions such as NASA’s Lunar Reconnaissance Orbiter, which has been collecting data on the moon since 2009, help enhance our understanding of the moon, Petro said. For patient sky-gazers looking to spy a meteor, Lunsford recommends facing east with the moon out of your field of view. The Leonids will be seen blazing in the night sky until the shower’s finality on December 2, according to the American Meteor Society. If you are eager to see more, two upcoming meteor showers peak next month:Geminids: December 12-13Ursids: December 21-22
Persons: CNN —, Noah Petro, ” Petro, don’t, it’s, Petro, , , Robert Lunsford, Lunsford, Dogukan, ” Lunsford Organizations: CNN, American Meteor Society, NASA, Anadolu Agency, Getty, International Meteor Organization, , Farmers Locations: Northern, Southern, Ankara, Turkey
The second branch of the Taurid meteor showers, the Northern Taurid event, is about to take center stage. The Northern Taurids have been active since mid-October, but the shower will peak Monday night into Tuesday — with optimal visibility likely occurring after midnight — offering patient sky-gazers the best opportunity to view meteor activity, according to NASA. However, the moon will be about 79% full when the Northern Taurids peak this week, according to the American Meteor Society, which could make spotting meteors earlier in the evening more challenging. The Northern Taurids are visible until December 2, according to the American Meteor Society, so there is potential to spot more fireballs over the next few weeks. Here are peak dates for upcoming meteor showers, according to the American Meteor Society:Leonids: November 16-17Geminids: December 12-13Ursids: December 21-22Two full moons also remain — the beaver moon, which is a supermoon, on November 15 and the cold moon on December 15, according to the Farmers’ Almanac.
Persons: Dr, Shannon Schmoll, Abrams, ” Schmoll, Encke, Schmoll, , CNN’s Taylor Nicioli Organizations: CNN, NASA, Abrams Planetarium, Michigan State University, American Meteor Society, Farmers Locations: Southern, Antarctica, Northern
The Southern Taurids, the first branch of the Taurid meteors showers, will be optimally visible after midnight early Tuesday. “An advantage with (the Taurids) is that they do tend to produce bigger, brighter (meteors) compared (with) other meteor showers. The Southern and Northern Taurid meteor showers will be visible almost everywhere in the world except Antarctica, Schmoll said, as long as the constellation Taurus is visible in the sky. Every few years, the Taurid showers see an increase in the rates of meteors produced, often called the Taurid “swarm,” such as the higher rates created in 2022. This heightened activity is usually seen every three or seven years, according to the American Meteor Society.
Persons: , Patience, , Shannon Schmoll, Abrams, it’s, Schmoll, Encke, ” Schmoll, Organizations: CNN, American Meteor Society, Abrams Planetarium, Michigan State University, NASA, Meteors, Farmers Locations: Southern, Northern,
The S & P 500 typically advances about 7% from November to April, compared to the index's average 2% rise from May to October, according to CFRA Research chief investment strategist Sam Stovall. This year's market strength follows a standout 20% gain for the S & P 500 in 2023's "best six months" period, he noted. "This double-dose of double-digit returns has caused investors to wonder if the market has used up its energy reserves and may be headed for tough times," Stovall wrote. .SPX YTD mountain The S & P 500 has advanced more than 22% in 2024. Stocks were bhigher on both Friday and Monday , with the S & P 500 trading within a hair's breath of this month's all-time high of 5864.67.
Persons: Sam Stovall, Russell, Stocks, Stovall Organizations: Stock Traders, Research, Investors Locations: U.S
The comet won’t be visible in the night sky until 2061. But the debris the comet leaves in its trail — otherwise known as the Orionid meteor shower — causes meteors to streak through Earth’s atmosphere. Meteors from Halley’s cometAs Earth orbits the sun, it encounters the debris trail from Halley’s comet twice a year. The best part of viewing a meteor shower, Lunsford said, is “getting in touch with nature and being part of the universe. Look for the celestial wonder in the western part of the night sky shortly after sunset.
Persons: Robert Lunsford, ” Lunsford, Lunsford Organizations: CNN, American Meteor Society, Orion, NASA, Farmers, Taurids
The closest supermoon of the year will soon loom large and bright in the autumn sky. October’s hunter’s moon is set to peak at its fullest around 7:26 a.m. Many people associate the hunter’s moon with being orange in color as it rises, but the same could be said of all full moons. Why the full moon is called hunter’s moonThe hunter’s moon is the first full moon after the autumnal equinox, which occurred on September 22 this year. The hunter’s moon is expected to be joined by Jupiter, a red giant star called Aldebaran and the star cluster Pleiades, according to EarthSky.
Persons: it’s, Robin L, Shelton, Don’t, • Orionids, Leonids, Geminids, Ursids Organizations: CNN, NASA, University of Georgia, Jupiter, American Meteor Society Locations: Potawatomi, Fort Ouiatenon, West Lafayette , Indiana
AdvertisementThe biggest and brightest supermoon of the year is rising this week. When and where to see October's supermoonA supermoon rises behind a downtown office building in Kansas City, Missouri. While you don't need special equipment to see the supermoon, Ryle suggests checking it out through a telescope, if you can. REUTERS/Yannis BehrakisThis week's moon is the third of four consecutive supermoons this year. What makes this week's moon unique is that perigee and the full moon coincide most closely compared to the other supermoons, making it the biggest and brightest supermoon all year.
Persons: , Charlie Riedel, Jennifer L, Hoffman, Space.com, Wes Ryle, Ryle, Yannis Behrakis Organizations: Service, NASA, Cincinnati Observatory, Farmers ' Locations: Kansas City , Missouri, it's, moonrise
The Stock Trader's Almanac issued a seasonal buy signal for equities, saying investors who sold in May can start to come back to the market now as the calendar nears what are historically the best six months of the year. The same is true of the S & P 500 . In the best six months, the S & P 500 gained 3,019 points, while rising 1,133 points in the worst six. "And beginning on the first trading day of April we prepare to exit these seasonal positions as soon as the market falters." The 30-stock Dow Jones Industrial Average rose above the 43,000 milestone on Monday, while the S & P 500 recently crossed the 5,800 level for the first time.
Organizations: Dow Jones, Dow Jones Industrial Locations: Cambodia
Earnings season is right around the corner, and there are some stocks investors should be wary of, according to Piper Sandler. The season unofficially kicks off this week, with JPMorgan's third-quarter results due Friday before the bell, and it ramps up from there. The remaining four have a strong buy or buy rating. The department store chain is set to report its quarterly results in November. By contrast, only two have a strong buy or buy rating.
Persons: Piper Sandler, they've, Paramount's, Skydance, Nordstrom, it's, Piper, Organizations: Dow Jones, Federal Reserve, Paramount Global, Warner Bros, Paramount, GameStop, Southwest Airlines, Southwest Locations: U.S, GME
Despite the major indexes trading near their all-time highs, there are still plenty of stocks that JPMorgan is bearish on in the coming quarter. Against this backdrop, JPMorgan surveyed its analysts for their top short ideas, or stocks that might underperform going into the fourth quarter. Shares have risen 9% in 2024, leading to what JPMorgan analyst Michael Rehaut believes is an expensive valuation. JPMorgan analyst Kenneth Goldman also has an underweight rating on Beyond Meat . "Plant-based meat continues to struggle as the fad fades," the analyst wrote.
Persons: Stocks, Stanley Black, Decker, Michael Rehaut, Kenneth Goldman, Stephen Tusa, Mark Strouse Organizations: JPMorgan, Federal, Traders, Rockwell Automation, ROK, FuelCell Energy Locations: , underinvestment
October is already living up to its volatile reputation
  + stars: | 2024-10-02 | by ( Fred Imbert | ) www.cnbc.com   time to read: +2 min
The S & P 500 fell nearly 1% to kick off the new month of trading. The Nasdaq Composite shed more than 1.5%, and the Dow Jones Industrial Average lost 0.4%, or 173 points. The Cboe Volatility Index , Wall Street's preferred fear gauge, swelled abpve 20 — its highest level since Sept. 11. I am bracing for added volatility and the market to over-trade daily headlines and themes," he said in a note to clients Wednesday. CNBC Pro found that the S & P 500 averages a daily move of 1.3% in either direction in October, based on FactSet data going back to 1950.
Persons: Street's, Scott Rubner, Goldman Sachs, Baird, Harley, Davidson Organizations: Nasdaq, Dow Jones Industrial, West Texas, CNBC Pro Locations: Iran, Israel, Lebanon, Milwaukee
PHILADELPHIA — The University of Pennsylvania law school says it is imposing a one-year suspension at half-pay and other sanctions along with a public reprimand on a tenured professor over her comments about race in recent years. The university said Professor Amy Wax — who has questioned the academic performance of Black students, invited a white nationalist to speak to her class and suggested the country would be better off with less Asian immigration — will also lose her named chair and summer pay in perpetuity and must note in public appearances that she speaks for herself, not as a university or law school member. The suspension is to begin in the 2025-2026 academic year. The university has not, however, fired her or stripped her of tenure. Wax’s lawyer, David Shapiro, told the campus newspaper, the Daily Pennsylvanian, in November that officials targeted Wax over her public comments and some elements of her class on conservative thought, including having a white nationalist figure speak.
Persons: Amy Wax —, Wax, , doesn’t, , John L, Jackson Jr, ” Jackson, Wax’s, David Shapiro, ” Wax, Organizations: PHILADELPHIA, The University of Pennsylvania, New York Sun, Daily Locations: Penn
As a new month looms, Wall Street expects its favorite stocks to outperform — no matter what October might bring. Against this backdrop, CNBC Pro screened for Wall Street's favorite names that analysts believe could rally from here. Read's $150 price target is way above the consensus $137, and about 43% higher than where ConocoPhillips closed Friday. Analysts are also bullish on fellow energy producer Diamondback Energy , with the stock's upside to average price target coming in at 30%. Other stocks on Wall Street's list of favorites include casino operator MGM Resorts International and biotechnology firm Biogen .
Persons: Janney Montgomery, Dan Wantrobski, Wall, Goldman Sachs, Toshiya Hari, Wells, Roger Read, Read's, Piper Sandler, Mark Lear Organizations: Federal Reserve, November's U.S, CNBC Pro, Semiconductor, Micron Technology, Micron, Wall Street, ConocoPhillips, Diamondback Energy, Diamondback, Endeavor, MGM Resorts International Locations: November's, Friday's, Wells Fargo, Houston, Midland, 3Q24
Most analysts think that September's top-performing stocks could continue their ascent. September is a traditionally dicey for stocks: It's the worst month of the year for the S & P 500 , according to the Stock Trader's Almanac . With October right around the corner, CNBC Pro used FactSet data to screen for this month's top-performing stocks in the S & P 500 and find out where analysts see them going next. Constellation Energy is up more than 30% on the month, making it September's second-highest performer in the S & P 500. Power company Vistra has surged nearly 196% in 2024, and it's the top performer in the S & P 500 this month.
Persons: Morgan Stanley, David Arcaro, Vistra, Jefferies, Julien Dumoulin, Smith, Raymond James, Brian Gesuale Organizations: Federal, Dow Jones, CNBC Pro, Analysts, Constellation Energy, Microsoft, Constellation, Energy, Software, Palantir Technologies, Oracle, Delta Air Lines Locations: Thursday's
Both the Dow Jones Industrial Average and S & P 500 have broken out to new highs this month. BTIG chief market technician Jonathan Krinsky asked this week, referring to the S & P 500. The S & P 500 had risen more than 5%, while the tech-heavy Nasdaq Composite was higher by more than 1%. For the S & P 500, those levels represent declines of about 6% to 9%, as of Thursday's close. Initial Claims (09/28) 9:45 a.m. PMI Composite final (September) 9:45 a.m. S & P PMI Services SA final (September) 10 a.m.
Persons: Jonathan Krinsky, Dow, Adam Turnquist, LPL Financial's Turnquist, Jeff Hirsch, he's bullish, Hirsch wouldn't, Lamb Weston, Nonfarm Payrolls, , Nick Wells Organizations: Federal, Dow Jones Industrial, Dow, CNBC, Nasdaq, LPL, Chicago PMI, Dallas Fed, PMI, Manufacturing, Nike, McCormick, ADP, PMI Services SA, Services PMI, Constellation Locations: Europe, U.S, Chicago
In fact, the S & P 500 is on pace for a winning September — its first since 2019 — with a gain of more than 1%. The month is typically the worst stretch of the year on average for all three major averages and the Russell 2000, according to the Stock Trader's Almanac. Some of September's strength could be attributed to the Federal Reserve's supersized rate cut last week . The S & P 500 notched a fresh record close on Monday and an intraday all-time high on Tuesday. The benchmark S & P 500 typically pulls back nearly 1% on average in October in election years, per the Stock Trader's Almanac.
Persons: , Russell, Gary Pzegeo Organizations: Federal, CIBC Private Wealth Management
Today is triple witching expiration , the quarterly expiration of single stock and index options, and index futures. It's occurring at an unusual moment: the S & P 500 is at an historic high. Week after triple witch: poor Unfortunately, the week after the September triple witch is historically among the weakest of the year. S & P 500 rebalancing today The S & P 500 will see three new entrants at the close today, each of which will begin trading as part of the S & P on Monday: Dell Technologies , Erie Indemnity and Palantir Technologies . Finally, while the S & P 500 is at a new high, the Russell 2000 smallcap index is not far behind.
Persons: Chris Murphy, Jeff Hirsch, Dow Industrials, Hirsch, Dell, Russell Organizations: Stock, Nasdaq, Dell Technologies, Erie, Palantir Technologies, Etsy, Rad Laboratories, American Airlines Group Locations: Susquehanna
With that seasonal volatility in mind, Evercore ISI screened for stocks that may continue to outperform in the current climate. The investment bank combed through the Russell 3000 for stocks that are in the top quintiles for momentum, sentiment and buybacks. One company that made the Evercore ISI screen was mobile tech company AppLovin . Evercore ISI also highlighted Sprouts Farmers Market as a potential outperformer. Evercore ISI upgraded Sprouts to outperform from in line this week.
Persons: Russell, LSEG, BTIG, Benjamin Budish, Robinhood, Michael Montani Organizations: Stock, Federal, UBS, FactSet, Financial, LSEG, Barclays, ISI
CNN —Sky-gazers around the world will be able to glimpse a partial lunar eclipse while September’s full harvest moon shines brightly Tuesday night. If you’re viewing the moon on Tuesday evening, for about an hour it will also appear as if a bite has been taken out of it due to a partial lunar eclipse. A partial lunar eclipse occurs when Earth moves between the sun and the full moon without being perfectly aligned. During a total lunar eclipse, Earth’s shadow can turn the moon’s surface a striking red color, which is known as a blood moon, according to NASA. The moon is seen through the clouds during a partial lunar eclipse over Caracas, Venezuela, early on November 8, 2022.
Persons: , Noah Petro, Artemis III, Federico Parra Organizations: CNN, NASA, Reconnaissance, Artemis, Saturn, Northern, American Meteor Society, Taurids Locations: Europe, Asia, Africa, North America, South America, United States, Caracas, Venezuela, AFP, Chuseok
Equity strategist Tom Lee expects the stock market will run into some turbulence over the next eight weeks, though he expects a pullback could be a buying opportunity for investors. Lee stocks could pull back by 7% to 10%, as investors navigate what's historically the weakest month of the year. The Stock Trader's Almanac shows the S & P 500 has averaged a 0.7% loss every September in data going back to 1950. "I think investors should be cautious for the next eight weeks," Lee told CNBC's "Squawk Box" on Tuesday. Lee was one of the first on Wall Street to turn bullish on stocks during the depths of the pandemic and was correctly bullish heading into 2024 as well.
Persons: Tom Lee, Lee, CNBC's, Market's, He's Organizations: Federal Reserve
The good news outweighs the bad Seasonality aside, the market is riding a wave of momentum, and with good reason: 1) The market "broadening" trend is very real. At Jackson Hole, chairman Jerome Powell made it clear that the Fed had shifted its attention from fighting inflation to the job market. S&P 500 in September: It's been ugly recently (rounded) 2023: down 5%2022: down 9%2021: down 5%2020: down 4% The elections are another wildcard. Two-thirds of the S&P 500 was up in August. Most importantly, the Equal-Weight S&P 500 (RSP) modestly outperformed the S&P 500 in August and closed Friday at an historic high.
Persons: Frank Gretz, Wellington Shields, Robert Hum, It's, Consumer Staples, Jerome Powell, David Smith, Brendan McDermid Organizations: Dow, NASDAQ, Russell, NYSE, Megacap Tech, Apple, Nvidia, Microsoft, Consumer, Estate, Technology, American Association of, Bulls, PCE, Fed, Rockland Trust, CNBC, Traders, New York Stock Exchange Locations: Wellington, Meta, Rockland, New York City, U.S
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