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In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets are 'underestimating' the amount of instability the U.S. presidential elections will bringPhillip Toews of Toews Asset Management breaks down the ways a Harris or second Trump presidency will impact the financial market.
Persons: Phillip Toews, Harris, Trump Organizations: Asset Management
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump verdict has the potential to create 'chaos' in financial markets: Portfolio managerPhillip Toews of Toews Asset Management says the "long-term playout" of Trump's verdict will last until the U.S. presidential elections in November.
Persons: Phillip Toews Organizations: Management
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLack of demand for U.S. treasurys would be the 'tipping point' for rates to go 'even higher'Phillip Toews of Toews Asset Management warns that soft demand for U.S. treasurys could spark a "sea change".
Persons: Phillip Toews Organizations: U.S, Management
The world’s second-largest economy is grappling with growing financial distress, which means big problems for the nation’s nearly $3 trillion shadow banking industry. What’s happening: Shadow lenders, including trust firms, operate outside of the formal banking system. That’s because shadow banks are not just a problem in China. The key concern, said Towes, is whether Western organizations have loaned to shadow banks and are now vulnerable. Production cuts by OPEC+, which produces 40% of the world’s crude oil, have helped send oil prices higher in recent months, a development that could have repercussions for inflation and interest rates.
Persons: they’ve, , Phillip Toews, “ we’ve, Toews, that’s, Goldman Sachs, Matt Egan, That’s, It’s, , Jan Hatzius, ” Hatzius, , CNN’s Hanna Ziady, Brent, ” Stephen Innes Organizations: CNN Business, Bell, New York CNN, Asset Management, US, IMF, Global, Federal Reserve, West Texas, Organization of, Petroleum, Saudi Ministry of Energy Locations: New York, China, Beijing, Europe, Saudi Arabia, Russia, OPEC
CNN —Artificial intelligence darling Nvidia’s upcoming earnings report could be a boost or a drag on a market already mired in the summer doldrums. Nvidia reached a $1 trillion market cap in May, becoming the ninth company to achieve that milestone. Tech stocks rose on Monday, indicating optimism among investors about Nvidia’s earnings. The tech-heavy Nasdaq Composite index on Monday gained 1.6%, marking its biggest one-day jump this month and stalling the recent sell-off in tech stocks. Tech stocks faltered somewhat on Tuesday, as weak retail earnings and elevated Treasury yields put pressure on stocks.
Persons: Jensen Huang, Phillip Toews, that’s, , , Louis Navellier, Dan Ives, Jerome Powell, Anna Bahney, Read, Clare Duffy, , X Organizations: CNN Business, Bell, CNN, Nvidia, Toews Asset Management, US Federal Reserve, Apple, Meta, Microsoft, Tesla, Navellier, Associates, Tech, Nasdaq, Wedbush Securities, Federal, Kansas City, Dow Jones, National Association of Realtors, NAR, Homeowners, Twitter Locations: Jackson Hole , Wyoming, Northeast, Midwest, West
Fed officials have been pointing to the tight labor market as an area of concern for inflation, using it as evidence that it hasn't tightened rates enough. After months of strategists and investors complaining that earnings estimates are too high, they've started to fall — but with a catch. If the trough in earnings is close, then the stock market could be in for a big year. ET - Producer price index Friday: Earnings: UnitedHealth, JPMorgan Chase, Wells Fargo, BlackRock, Citigroup, PNC Financial 8:30 a.m. ET - Fed H.8 data on assets and liabilities of U.S. commercial banks
And yet, despite the dip this week, markets right now are brimming with bullishness — and Reddit-loving retail investors are partying like it's 2021. Retail investors are rebuffing Jerome Powell in piling into speculative assets. Remember, at the start of the pandemic, government stimulus and near-zero interest rates gave retail investors the perfect opportunity to lay down speculative bets. "With all of these headwinds, retail investors are jumping in on maybe some ill-conceived optimism," Goldman said. But economic data be damned, retail investors are still piling into the riskiest corners of the market.
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