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Here’s what could knock the stock market’s momentum
  + stars: | 2024-09-23 | by ( Fred Imbert | ) www.cnbc.com   time to read: +3 min
The S & P 500 also reached an all-time high last week and posted a weekly advance of 1.4%. Here's a look: Valuations The S & P 500 trading near record highs is a double-edged sword, as valuations are also at historically high levels. "The S & P 500 is already trading a little above where it deserves to at year-end 2024." Scott Chronert of Citi also noted that six of the 11 S & P 500 sectors have "valuation composites near/at top decile levels." The S & P 500 has averaged a 2.3% loss in September over the past 10 years, according to FactSet data.
Persons: Stocks, it's, Lori Calvasina, Scott Chronert, BTIG's Jonathan Krinsky, Kamala Harris, Donald Trump, Piper Sandler, Craig Johnson, Gonzalo Asis, RBC's Calvasina, Citi's Chronert Organizations: Dow Jones, Federal Reserve, RBC Capital Markets, Citi, NBC, Presidential, PCE, Bank of America
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market pulled too much of a forward outlook into current price action, says Citi's ChronertScott Chronert, Citi US equity strategist, and Nicole Webb, Wealth Enhancement Group SVP, joins 'Closing Bell Overtime' to talk the day's market action.
Persons: Citi's Chronert Scott Chronert, Nicole Webb Organizations: Citi, Wealth
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCiti's Chronert: A lot supports our bullish stance on S&P fundamental strengthScott Chronert, Citi U.S. equity strategist, joins 'Squawk on the Street' to discuss why Chronert's looking to be more constructive on equities, the market's breadth, and more.
Persons: Scott Chronert Organizations: Citi U.S
The loudest investor chatter for months has insisted the heavyweights of the Nasdaq have been everything to the market in 2023. Sunday is the second anniversary of the all-time closing high in both the Nasdaq Composite and Nasdaq 100 indexes, which remain 12% and 4 % underwater even after their monster gains in recent months. It's relatively rare for the Nasdaq 100 – the most easily investable part of the Nasdaq and the one most reflective of the mega-cap dominance – to enter a two-year downturn. Only three of the Big Seven have outperformed the Nasdaq 100 over the past two years – Apple, Nvidia and Microsoft — while Meta Platforms has kept pace and Amazon, Alphabet and Tesla have lagged. Friday showed signs of outright rotation, the Russell 2000 up 1.3% versus a flat Nasdaq 100.
Persons: Invesco, Scott Chronert, we've, I've, , Chronert, Apple's, What's, Berkshire Hathaway, Tony Pasquariello, Goldman Sachs, Russell, disinflation Organizations: Nasdaq, Sunday, QQQ, Citi, Apple, Nvidia, Microsoft, Meta, Berkshire, Fed Locations: lockstep, Berkshire, Whereto
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOur year-end 2023 target for the S&P is 4600, says Citi's ChronertScott Chronert, Citi U.S. equity strategist, joins 'Squawk on the Street' to discuss his thoughts on the markets, how bond yields must perform for his thesis, and more.
Persons: Citi's Chronert Scott Chronert Organizations: Citi U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. equities in good shape as long as Israel-Hamas conflict remains contained: Citi's ChronertScott Chronert, Citi U.S. equity strategist, joins 'Squawk on the Street' to discuss the investor's take on the conflict in Gaza, what would constitute an escalation that could affect U.S. stock markets, and more.
Persons: Scott Chronert Organizations: Citi U.S Locations: Israel, Gaza
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're more comfortable putting new money into cyclicals over defensive stocks, says Citi's ChronertScott Chronert, Citi U.S. equity strategist, joins 'Closing Bell' to discuss his take on the second half of the year for equities, why earnings don't need to come down as much as prior cycles, and more.
Persons: Citi's Chronert Scott Chronert Organizations: Citi U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors should consider hedging against implied volatility, says Citi's ChronertScott Chronert, Citi U.S. equity strategist, joins 'Squawk on the Street' to discuss what markets have priced-in, what Chronert exepcts from markets from here and Chronert's expectations for upcoming market performance.
Citi gave the stock a price target of $180, implying about 11% upside. The bank gave the stock a price target of $44, giving it almost 40% upside. It gave the stock a price target of $50, implying about 23% upside. Citi gave it a price target of $45, or 71% potential upside. 'Great defensive trade' It comes as Citi's Chronert told CNBC he still sees opportunities in some sectors, despite the market volatility.
Citi's Scott Chronert expects a mild recession in the first half of this year and revealed three strategy calls that could help investors trade the downturn. Earnings Earnings will likely come in better than expected, according to Chronert in his outlook for this year, published in December. Strength in some sectors Chronert likes both industrials and energy looking ahead. In the December note, Citi listed a number of "preferred" U.S. energy stocks including APA and EOG Resources . As such, he told CNBC Thursday that he's "steering somewhat clear of" mega-cap companies.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCiti's Chronert says these three things will be a headwind for markets in 2023Scott Chronert, Citi U.S. equity strategist, joins 'Closing Bell: Overtime' to discuss his strategy going into 2023 and what investors should look for in the first quarter of the new year.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNext year will be a great year for stock selection, says Citi's ChronertScott Chronert, Citi U.S. equity strategist, joins 'Closing Bell' to discuss the path for markets, why companies will continue to modify guidance lower and more.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe have to assume the Fed will continue its narrative well into the first quarter, says Citi's ChronertJim Paulsen, Leuthold Group, and Scott Chronert, Citi, joins 'Squawk on the Street' to discuss how hard it'll be for markets to find good data, how Chronert is positioning and what the bond market is currently signaling.
DoorDash stock surges after sales beat expectations
  + stars: | 2022-11-03 | by ( Annie Palmer | ) www.cnbc.com   time to read: +2 min
However, its net loss widened to $295 million, or a loss of 77 cents per share. It reported a net loss of $101 million, or a loss of 30 cents per share, in the year-ago period. For the current quarter, it forecast gross order value to be between $13.9 billion and $14.2 billion, which is higher than consensus estimates of $13.73 billion, according to StreetAccount. That's also an increase from the third quarter, when gross order value jumped 30% year-over-year to $13.5 billion. Gross order value measures how much users are spending on orders and subscription fees.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAs we enter recession territory next year, we'll find much of tech is earnings resilient, says Citi's ChronertScott Chronert, Citi U.S. equity strategist, and Sahak Manuelian, Wedbush Securities head of equity trading, join 'Closing Bell' to reflect on big tech earnings, the rate implications for tech valuations and the economic fallout of higher rates.
Schatz of Heritage Capital looks for what he calls "high-flier" or "second-tier" technology stocks severely battered this year but pushing higher. Playing defense When looking outside of big tech, investors may also want to consider looking out for more defense-focused names. His picks include IBM, which trades at just 14 times forward earnings and offers a sticky revenue base. Schatz of Heritage Capital looks for what he calls "high-flier" or "second-tier" technology stocks severely battered this year but pushing higher. His picks include IBM, which trades at just 14 times forward earnings and offers a sticky revenue base.
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