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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt takes more than a year for monetary policies to come through, BofA strategist saysSebastian Raedler, head of European equity strategy at the Bank of America, discusses the impact of the Fed monetary policy on the U.S. market at the BofA Financials CEO conference in London.
Persons: Sebastian Raedler Organizations: Bank of America Locations: London
Bank of America strategist says it's time to get bearish
  + stars: | 2024-07-22 | by ( Ganesh Rao | ) www.cnbc.com   time to read: +3 min
As stocks pull back from all-time highs, a top Bank of America strategist warned investors to be cautious, citing a series of economic indicators that have historically signaled the end of a rally. "Historically, whenever the unemployment rate has started to rise, it has never gone down again. The unemployment rate unexpectedly climbed to 4.1% in June , tied for the highest level since October 2021. The strategist added that such conditions typically lead to higher risk premiums and lower asset prices, especially given the current elevated market levels. The Bank of America strategist also expressed concern about consumer confidence, which he described as "collapsing."
Persons: Sebastian Raedler, Raedler, Hani Redha, Redha, Peter Lynch Organizations: Bank of America, . Treasury, University of Michigan, Pine, Investments Locations: U.S
CNBC Daily Open: Biden drops out, endorses Harris
  + stars: | 2024-07-22 | by ( Abid Ali | ) www.cnbc.com   time to read: +4 min
Traders work on the floor of the New York Stock Exchange (NYSE) on June 01, 2023 in New York City. 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. Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are. Big Tech faces the challenge of rekindling Wall Street's enthusiasm after a $900 billion tech rout.
Persons: Sebastian Raedler, haven't, Stephanie Pope, Max, CNBC's Jim Cramer, Elon Musk, Dan Ives, Lina Khan, Khan, Ives, CrowdStrike, Fred Imbert, , Alex Harring, Jesse Pound, Kevin Williams, Leslie Josephs, Josie Rozzelle, Kevin Breuninger, Dan Mangan, Zev Fima, Spencer Kimball, Lim Hui Jie Organizations: New York Stock Exchange, CNBC, Bank of America, Boeing, Farnborough, Trump, Microsoft, Securities, Big Tech, Google, Apple Locations: New York City, London, New York, New Delhi, Washington
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBull vs. bear: What to expect from the U.S. economy and the stock market? Sebastian Raedler, equity strategist at Bank of America, debates with Hani Redha, portfolio manager at PineBridge Investments, on where the U.S. economy is heading and how the stock market might perform in the near future.
Persons: Sebastian Raedler, Hani Redha Organizations: Bank of America, PineBridge Investments Locations: U.S
The STOXX Europe 600 hit 500 points for the first time last week, and the benchmark index has since notched yet another all-time high. When stocks fell immediately after seven weeks of gains, they lost 1.17% on average. The Stoxx Europe 600 recorded its longest winning streak between June and August 1993, when the market rose for 12 straight weeks. The weighted average of analyst price targets for the companies in the Stoxx Europe 600 points toward a 9.1% upside potential for the index, according to FactSet data. The bank has an end-of-year price target of 510 points for the Stoxx Europe 600.
Persons: Sebastian Raedler, Emmanuel Cau Organizations: CNBC, of America's, Barclays Locations: Europe
Investment banks are bearish about European stocks because of a rapid deterioration in economic data. Strategists at UBS expect the Stoxx Europe 600 index to decline by 12.5% to 410 by the end of the year from its current level of 468. .STOXX 1Y line "The 'new orders' outlook for many of the service sectors in Europe seems to have deteriorated quite rapidly. The Wall Street bank's strategists noted that the global growth acceleration behind the recent rally in European stocks appears to be fading. Opportunities in a bleak market Despite the bleak outlook for the market, UBS' Fowler sees some opportunities.
Persons: Gerry Fowler, Fowler, CNBC's, We've, Sebastian Raedler Organizations: UBS, of America Locations: Europe, June's, Germany, France
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