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☆ Morgan Stanley sees stabilizing economy boosting cyclical stocks, names its favorites
▼ + stars: | 2024-10-14 | by ( Brian Evans | Nicole Teo | ) www.cnbc.com time to read: +3 min

Even as focus turns to the upcoming presidential election, Morgan Stanley thinks the business cycle will matter more for stock picking. NVDA YTD mountain Nvidia stock. Wells Fargo also made the cut. WFC YTD mountain Wells Fargo stock. Wells Fargo also repurchased $3.5 billion worth of stock throughout the quarter, which marked a 60% increase from the same period a year ago.

Persons: Morgan Stanley, Michael Wilson, Wilson, Nvidia, Goldman Sachs, Toshiya Hari, Wells Fargo, Jason Goldberg, Goldberg Organizations: Nvidia, Barclays Locations: Wells Fargo

During an interview with CNBC's " The Exchange " on Monday, Forrest advised investors to look for companies that consistently outperform their peers. Stock picks The investor provided the names of three companies that she believes meet her criteria: Exxon Mobil, artificial intelligence play Micron Technology and Urban Outfitters . Regarding Micron Technology, Forrest said she is a "believer in AI." As for Urban Outfitters, Forrest said that, although its eponymous brand is struggling, there is ongoing strength across its other brands — Free People and Anthropologie. The recent appointment of Urban Outfitters' new president should translate into traction with younger customers in the current quarter, Forrest said.

Persons: Kim Forrest, CNBC's, Forrest, Stock Organizations: Bokeh Capital Partners, Exxon Mobil, Micron Technology, Urban Outfitters, Micron, Free

☆ Stock market next week: Earnings season ramps up with more big bank results
▼ + stars: | 2024-10-11 | by ( Sarah Min | Nicole Teo | ) www.cnbc.com time to read: +6 min

And, with earnings season set to ramp up, that could mean further gains. Already, on Friday, JPMorgan Chase and Wells Fargo were rallying in midday trading after reporting their latest results this week, an auspicious start to the earnings season. A strong earnings season Earnings results next week will be dominated by reports from the banking sector, giving investors further insight into the health of the capital markets as well as the consumer. Several regional banks are also set to announce how they did in the most recent quarter as well, such as PNC Financial Services Group and Citizens Financial Group. Even so, investors are optimistic about the outlook for corporate profits this earnings season, especially with expectations having come down.

Persons: what's, Oppenheimer, Wells Fargo, Charlie Ashley, Ashley, Goldman Sachs, Morgan Stanley, Ross Mayfield, Catalyst's Ashley, Baird's Mayfield, Mayfield, Charles Schwab, Huntington Bancshares Organizations: Dow Jones, Tech, Nvidia, JPMorgan Chase, Traders, Federal Reserve, Catalyst Funds, Nasdaq, Ashley . Bank of America, PNC Financial Services Group, Citizens Financial Group, Private Wealth Management, Treasury, Columbus, Columbus Day, Index, United Airlines, Hunt Transport Services, Citigroup, State, Goldman Sachs Group, Walgreens Boots Alliance, Johnson, Bank of America, PNC Financial Services, UnitedHealth, Price, PPG Industries, Steel Dynamics, Discover Financial Services, CSX, Abbott Laboratories, U.S . Bancorp, Financial Group, Philadelphia Fed, Retail, Manufacturing, Netflix, T Bank Corp, Elevance, Truist, Blackstone, Housing, Schlumberger, Procter, Gamble, Fifth Third Bancorp, Regions Financial, American Express Locations: Ashley, bullish, Prologis, NAHB

☆ Investors should take China ‘very seriously,’ fund manager says, naming a stock to start with
▼ + stars: | 2024-10-11 | by ( Nicole Teo | ) www.cnbc.com time to read: +4 min

With all eyes on China right now, one fund manager is bullish on the country regardless of any "bazooka" stimulus measures, saying investors should be getting involved. Starting on Sept. 24, China announced a string of stimulus measures aimed at boosting China's economy . Stephen Roach, for example, former chief economist at Morgan Stanley, warned investors against being too swept up in the China market rally . 'Starting point' For those looking to invest in China, Glass said a good "starting point" was Midea Group , which makes appliances and industrial robots. Analysts' average price target is 4.49 Hong Kong dollars, which gives the stock almost 30% potential downside from its current price around 6.40 Hong Kong dollars.

Persons: Steven Glass, Glass, hasn't, CNBC's, Stephen Roach, Morgan Stanley, Midea Organizations: Sydney, Pella Funds, Investors, National Development, CSI, HSBC, Generations Fund, Midea Group, China Equity, Hong, Garden Services Holdings Locations: China, Pella, Hong Kong, Shenzhen, U.S, Hong

☆ How to play AI in a cheaper way without owning stocks like Nvidia, according to a fund manager
▼ + stars: | 2024-10-11 | by ( Weizhen Tan | Nicole Teo | ) www.cnbc.com time to read: +2 min

Buying shares of Nvidia or other semiconductor and Big Tech stocks is just one way to play the artificial intelligence theme. There's a cheaper way to play it, Sean Peche of Ranmore Fund Management told CNBC Pro Talks last week. "Most investors over the last couple of years have thought that the only way to play AI is to own Nvidia and a few of the other peers," the portfolio manager said. AI is going to help these banks, but investors are "not paying for" the AI factor given that these stocks are trading at only six times earnings, he pointed out. Shares of Nvidia are trading at around 57 times earnings.

Persons: Sean Peche, Peche, You've, it's, I've, Unicredit Organizations: Nvidia, Big Tech, Ranmore Fund Management, CNBC, BNP Paribas, ABN Amro, UniCredit

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