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☆ Earnings ramp up this week. Here’s what to watch for this season
▼ + stars: | 2024-10-14 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Earnings will be the main event this week, as Wall Street looks to add to recent record-setting gains. Nearly 40 S & P 500 companies are scheduled to post third-quarter results this week. Check out our latest Earnings Playbook for more on the names reporting this week. The 30 S & P 500 names that reported last week beat earnings expectations by an average of 5%, according to Bank of America. The S & P 500 closed above 5,800 for the first time on Friday.

Persons: Goldman Sachs, Morgan Stanley —, Ohsung Kwon, Banks, JP Morgan, corporates, Kwon, Fastenal, Lori Calvasina, It's, Dow Organizations: Netflix, Bank of America, RBC Capital Markets, Big, Dow Jones Industrial, Federal Reserve

☆ 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

☆ The bottom is not in so take profits on any bounce, says BTIG
▼ + stars: | 2024-08-12 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

BTIG's chief market technician warned Sunday that, while the pullback seen early last week generated some "tactical buy signals," he thinks the "bulk of the bounce has likely run its course and [we] would use strength … to lighten exposure." However, the broad market index clawed back most of that decline by Friday, posting a weekly loss of just 0.04%. .SPX 1M mountain SPX 1-month chart "A final durable low is likely still ahead of us," Krinksy said. The big event this week will be the release of the consumer price index reading for July, due Wednesday. "We see LLY stock outperforming for its high growth outlook and low beta," the Deutsche analyst added, while calling the drugmaker a "low beta/high growth unicorn."

Persons: Jonathan Krinsky doesn't, Krinsky, Krinksy, Eric Johnston, Cantor Fitzgerald, Lori Calvasina, Scott Rubner, Goldman Sachs, Eli Lilly Organizations: JPMorgan, RBC Capital Markets, Deutsche Bank, Deutsche

☆ CNBC Daily Open: French left-wing shock victory, Boeing guilty plea
▼ + stars: | 2024-07-08 | by ( Abid Ali | ) www.cnbc.com time to read: +4 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. However, recent profit-taking and valuation concerns led to a pullback and a rare downgrade from a Wall Street analyst. Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are. Kolanovic wasn't the only Wall Street strategist to be caught out by the bull run — but rival banks have incrementally increased their calls.

Persons: Skydance, David Ellison, Marko Kolanovic, Kolanovic, Lori Calvasina, Calvasina, Tesla, Tom Narayan, Squawk, Narayan, Tom Sosnoff, Bill Ackman, Warren Buffett, Sosnoff, — CNBC's Pia Singh, Alex Harring, Holly Ellyatt, Ruxandra Iordache, Ryan Browne, Samantha Subin, Lim Hui Jie, Leslie Josephs Organizations: New York Stock Exchange, CNBC, Nvidia Nvidia, Wall, Paramount, Skydance Media, Paramount Global, Hollywood, Boeing, Justice Department, JPMorgan, RBC Capital Markets, RBC Locations: Hollywood

☆ RBC raises S&P 500 year-end target, but strategist says she's nervous about it
▼ + stars: | 2024-07-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

RBC Capital Markets increased its 2024 year-end target for the S & P 500, but the bank is taking a cautious stance on its market outlook. Head of global equity strategy Lori Calvasina now sees the broad market index ending the year at 5,700, up from her previous target of 5,300. .SPX YTD mountain S & P 500 in 2024 While she does see more upside ahead for the benchmark, Calvasina noted that valuations suggest the market is a bit overbought. There is also the risk that another short-term pullback — similar to what the market experienced in April — will take place, the strategist said. The S & P 500 has climbed nearly 15% year to date, with gains driven largely by chipmaker Nvidia and a small group of other megacap tech stocks.

Persons: Lori Calvasina, Calvasina, ”, We've, ” Calvasina, —, chipmaker Organizations: RBC Capital Markets, chipmaker Nvidia

☆ European stocks are at a 'huge' discount to those in the U.S. and lack a trigger to reverse that, strategist says
▼ + stars: | 2024-06-28 | 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 EmailEuropean stocks are at a 'huge' discount to those in the U.S. and lack a trigger to reverse that, strategist saysBeata Manthey, head of global equity strategy at Citi, talks about how political risk is hitting European stocks.

Persons: Beata Manthey Organizations: Citi Locations: U.S

☆ France's election has the ability to rock wider European stocks, Citi strategist says
▼ + stars: | 2024-06-28 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

France's parliamentary election has already rattled investors as the country's risk premium rises — but two possible scenarios have still not been priced in by markets and could impact stocks in the wider European region, according to Citi. "However, the market is not priced in for far-right or far-left majority," Manthey said. "The outcome is still quite unclear, we only have polling for the first round of the election. "Let's put the announcement of the election in the context of the positioning of the investors. If the French election outcome "is very market unfriendly ... markets in Europe are quite correlated.

Persons: Beata Manthey, CNBC's, Manthey, Emmanuel Macron's, Let's, we've Organizations: Citi, CAC Locations: Sunday's, Europe, U.S

☆ S&P 500 rebounds to less than 1% from a record after orderly three-week pullback
▼ + stars: | 2024-05-11 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The five-month, 28% sprint from the October correction low to the record high on the last trading day of the first quarter left the S & P 500 overbought, overheated and over-loved. .SPX YTD mountain S & P 500, YTD So far, so good, three weeks down and now three weeks up, taking the S & P 500 back to within 1% of its March 28 peak. More specifically, he tracks the correlation between S & P 500 and the Citi Economic Surprise Index. Fidelity Investments head of global macro Jurrien Timmer fashioned this look at the path of S & P 500 earnings heading into and through each calendar year, with 2024 holding up better than 2023 was last year at this time. The last time the S & P 500 was at today's level above 5200 in late March, the 12-month forward price/earnings multiple was 21.

Persons: that's, Jerome Powell, Scott Chronert, It's, Powell, Lori Calvasina, we've Organizations: U.S, Bank, Citi, Citi U.S, Fidelity Investments, Treasury, RBC Capital

☆ Japan's market is hitting record highs. What to know about the rally and how to play it
▼ + stars: | 2024-03-10 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

U.S. equities aren't the only ones on a bull run — the Japanese stock market is also enjoying an upward climb. "It is the case that the Japanese stock market remains almost exclusively driven by foreign money," Jefferies head of global equity strategy Christopher Wood wrote in a March 7 note. According to Wood, foreign investors now own almost a third of the Japanese stock market, a dramatic rise from the 4% level in 1989, when the asset bubble reached its peak. Morgan Stanley noted that quality stocks have outperformed the broader market so far in 2024. Transitioning out of deflation Rate policy has been another big factor in the recent market rally.

Persons: Jefferies, Christopher Wood, Wood, Goldman Sachs, Morgan Stanley, Makoto Furukawa, Ryota Sakagami, Citi's Sakagami Organizations: Nikkei, Global, Retailing, Holdings, Toyota Motor, Subaru, Mitsubishi, Citi, Japan, U.S, Bank of Locations: Japan, U.S, Tokyo, Bank of Japan

☆ The luxury goods sector has been the 'worst performing' in Europe, says strategist
▼ + stars: | 2023-11-30 | 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 EmailThe luxury goods sector has been the 'worst performing' in Europe, says strategistNick Nelson, head of global equity strategy at Absolute Strategy, discusses the worst performing European sectors and stock performance.

Persons: Nick Nelson Locations: Europe

☆ Big Tech fund manager reveals how to trade expensive valuations — and the stocks to buy
▼ + stars: | 2023-06-27 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Investors should focus on trading momentum rather than worry too much about lofty valuations in Big Tech stocks, according to chief investment officer Patrick Armstrong. "I've kept the mega-cap tech stocks that have really been the driver of returns for my portfolio and for the market," Armstrong told CNBC's Squawk Box Europe Monday. Yet Big Tech valuations have pushed the index's forward average price-to-earings ratio to 21 times, its highest level since 2004, barring a brief period in 2018 and 2021, according to FactSet data. Despite his discomfort about these steep valuations, Armstrong said he's not selling yet for two reasons. Armstrong added that if the economy slips into a recession, the recent tech rally could become a period of stagnation, with Big Tech stocks treading water as they attempt to grow into their lofty valuations.

Persons: Patrick Armstrong, Armstrong, I've, CNBC's, It's, he's, you've Organizations: Global Equity Strategy, Big Tech, Tech, Microsoft, Apple, Adobe, Investors Locations: Big Tech

☆ Tech sector could be overvalued, but I'm not selling: Investment chief
▼ + stars: | 2023-06-26 | 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 EmailTech sector could be overvalued, but I'm not selling: Investment chiefThe near-15% rally in the S&P 500 led by the tech sector could have gone to far, according to Patrick Armstrong, chief investment officer of Plurimi Wealth. Yet the fund manager isn't selling his Big Tech positions. Armstrong, who manages funds including the Plurimi AI Global Equity Strategy, revealed how he's trading the mega-valuations and the stocks to buy.

Persons: Patrick Armstrong, isn't, Armstrong Organizations: Email Tech, Investment, Big Tech, Global Equity

☆ Wall Street's biggest firms are warning their clients not to trust the stock market rally with trouble still on the way for the US economy and corporate earnings
▼ + stars: | 2023-02-07 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Stocks have responded positively, with the S&P 500 rising as much as 9.3% since the start of the year. "An improvement in US and global macro data has lifted the S&P 500 by 8% YTD and leads us to lift our 3-month S&P 500 target to 4000 (from 3600). Morgan StanleyMike Wilson, the bank's chief US equity strategist, has been warning of downside in the S&P 500 to fall for weeks now. In other words, this earnings recession is not priced, in our view." Wilson had the most accurate price target for the S&P 500 in 2022 among major Wall Street Strategists.

☆ Rates and recession: European shares face rocky start to 2023
▼ + stars: | 2022-11-29 | by ( Danilo Masoni | ) www.reuters.com time to read: +3 min

For the coming months, though, investors fear euro zone equities could lag other markets. "The economic outlook looks challenging as our economists forecast a recession in the euro zone," said Marc Haefliger, Head of Global Equity Strategy at Credit Suisse in Zurich. The economic slowdown will hit the cyclical euro zone market disproportionately," he added. The STOXX index of the euro zone's top 50 blue chip stocks (.STOXX50E) is seen falling another 7.9% from Friday's close to 3,650 points by mid-2023. Among country benchmarks, Germany's DAX (.GDAXI) is seen ending the first half of 2023 at 13,209, down 9.2% from Friday's close.

☆ Asset manager says Big Tech is set for a comeback — and names 2 stocks to get ahead of it
▼ + stars: | 2022-11-29 | by ( Zavier Ong | ) www.cnbc.com time to read: +2 min

Tech stocks have endured a brutal year so far, but asset manager Patrick Armstrong believes investor interest in Big Tech could reignite next year. "I do think Alphabet and Apple are [going to retain] their dominant market shares. Tech stocks have borne the brunt of this carnage, with the tech-heavy Nasdaq Composite down around 30% this year. Tech stocks have pared some losses since hitting their lows, but investor confidence in the sector remains shaky amid several bouts of bear market rallies that fizzled out quickly. 'Everyone wants to own' Big Tech "Going into year-end, I think Big Tech as a whole is going to see investors allocating to it.

☆ Outperforming asset manager picks 3 global retailers to short amid a fall in consumer spending
▼ + stars: | 2022-11-28 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Shares of mass market retailers will fall as profit margins are squeezed, and consumers curtail spending next year, according to Plurimi Wealth's chief investment officer. Selling shares "short" means borrowing shares through a broker to sell them immediately with a plan to repurchase them when the price is lower. In such an environment, mass market retailers that benefit from discretionary spending will see their revenues decline. While investors are split over the health of the American consumer, European shoppers are mostly expected to curtail their spending habits next year. Elsewhere in Europe, economists are also expecting a recession for the first half of next year that will impact discretionary spending.

☆ Outperforming asset manager picks the stocks set to win as margins get squeezed
▼ + stars: | 2022-11-25 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

"Consumers are going to have their purse strings pulled by utility bills, higher mortgage costs, higher petrol prices, and there's going to be margin squeeze." He said wage pressure and higher commodity prices were particularly challenging and could eat into companies' margins. Luxury Luxury stocks are another favorite for Armstrong. Moreover, the "massive" profit margins of luxury companies are also insulated from increases in input prices, he added. Within the space, Armstrong's fund owns French luxury goods companies LVMH and Hermes , given their "defendable margins" and the ability to be price setters.

☆ CNBC Pro Talks: Asset manager Patrick Armstrong on Big Tech, market outlook and stocks to short
▼ + stars: | 2022-11-22 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +2 min

As investors continue to navigate a slew of market risks, join CNBC's next Pro Talks for insights on how to come out on top. Armstrong manages funds including the Plurimi AI Global Equity Strategy. Watch the Pro Talks on Wednesday, Nov. 23 at 8 p.m. Singapore time/12 p.m. London time/7 a.m. Learn more from our previous Pro Talks: Fund manager names 3 recession-proof stocks and reveals how to rescue your portfolio if underwater Tech stocks are tumbling but one fund manager still loves Microsoft. Watch the Pro Talks on Wednesday, Nov. 23 at 8 p.m. Singapore time/12 p.m. London time/7 a.m.

☆ An economic nightmare is a near certainty as inflation stays hot while a recession nears. UBS says to forget the normal defensive playbook and instead invest your money in these 3 industries.
▼ + stars: | 2022-10-27 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

While it's unclear if there will be a severe recession, there is one outcome that investors can bank on, Parker wrote: stagflation. The market is implying a nearly 100% chance of weak economic growth paired with rampant inflation, which is a nightmarish economic scenario. UBSHowever, Parker wrote that the market selloff still has room to go as tighter financial conditions hurt estimates for earnings and economic growth. Besides interest rates, economic activity is the biggest driver of stocks right now, Parker wrote. More broadly, sectors for quality growth include consumer discretionary, healthcare, and technology, Parker wrote.

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