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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets could see more short-term 'stumbles' into the end of May, says G Squared's Victoria GreeneVictoria Greene, G Squared Private Wealth founding partner, and Keith Lerner, Truist Co-CIO, join 'Closing Bell Overtime' to talk the day's market action.
Persons: Victoria Greene Victoria Greene, Keith Lerner, Truist Organizations: Private Wealth
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAzure will be the growth driver of Microsoft, says Truist Securities' Joel FishbeinJoel Fishbein, Truist Securities managing director, joins CNBC's 'Money Movers' to discuss Microsoft's newest developments, Azure, and more.
Persons: Joel Fishbein Joel Fishbein Organizations: Microsoft, Truist Securities
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRegional banking consolidation slowdown due to 'settling down' period post-pandemic: Fmr. Truist CEOKelly King, Former Truist CEO, joins 'Closing Bell Overtime' to talk regional banks and why the U.S. has seen less banking consolidation recently.
Persons: Kelly King
You can't argue with a market making new record highs, though it's fair game to interrogate the tape about its assumptions and intentions. With the Dow Jones Industrial Average closing above 40,000 for the first time Friday and the S & P 500 settling above 5,300 after hitting a fresh all-time high Wednesday, the advice of history suggests not overthinking it. Keith Lerner, strategist at Truist, marks up a long-term S & P 500 chart to show times when it was at an all-time high. Brian Belski, strategist at BMO, last week lifted his year-end S & P 500 target to a Street-high 5,600 . And, quite remarkably, the stock market low of October 2022 occurred at an S & P 500 forward P/E above 15, with unemployment below 4% and in mid-economic expansion.
Persons: Stocks, Keith Lerner, Ned Davis, Brian Belski, Leuthold, Doug Ramsey Organizations: Treasury, Dow Jones, Dow, Ned Davis Research, Investment, Bank, Federal, BMO, Citi U.S, Vegas, Fed, Leuthold Locations: U.S
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market wrap: It's day two of muted action in the market, which was trading in a tight range on a light news day to close out the week. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, we're, OpenAI, Deere, Ralph Lauren, Jim Cramer's, Jim Organizations: CNBC, Tech, Devices, Broadcom, Nvidia, Microsoft, Palo Alto Networks, Palo, Walmart, TJX, Target, Williams, Coterra Energy, Jim Cramer's Charitable Locations: Palo Alto, Sonoma, Truist
Piper Sandler reiterates Nvidia as overweight Piper said it's sticking with its overweight rating heading into earnings next week. JPMorgan reiterates Netflix as overweight JPMorgan said it's sticking with its overweight rating following Netflix's upfront advertising presentation. Our price target moves to $340, reflecting channel commentary and recent multiple appreciation." JMP reiterates Robinhood as market outperform JMP said it's sticking with its market outperform on the stock trading company. "We are upgrading Wayfair Inc. to BUY from HOLD, with a price target of $83."
Persons: Piper Sandler, Piper, NVDA, Blackwell, Wolfe, underperform Wolfe, Houghton, it's, Truist, JMP, Goldman Sachs, Goldman, Dell, DELL, Wells, Jack, Tesla, Raymond James, Wolfe Alpha, SharkNinja, Argus Organizations: Citi, Nvidia, JPMorgan, Netflix, Intel, Energy, Networks, FedEx, UBS, Texas, RBC, Holdings, Devices, Alpha, AMD, " Bank of America, Bank of America, of America, Wayfair Inc Locations: 2H25, Asia, China
Lerner: Not surprising to see stocks hitting fresh record highs
  + stars: | 2024-05-16 | 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 EmailLerner: Not surprising to see stocks hitting fresh record highsKeith Lerner, Co-Chief Investment Officer and Chief Market Strategist at Truist Wealth, discusses the market momentum as inflation shows signs of easing.
Persons: Lerner, Keith Lerner Organizations: Truist
Here are the biggest calls on Wall Street on Wednesday: UBS reiterates Nvidia as buy UBS said it's standing by its buy rating heading into Nvidia earnings next week. Wells Fargo names Natera a top pick Wells said the fertilizer company is a new top pick at the firm. Morgan Stanley resumes Exxon as overweight Morgan Stanley resumed coverage of the stock and says it has "attractive growth at a compelling valuation." Morgan Stanley reiterates Palo Alto as overweight Morgan Stanley said it's bullish on shares of Palo Alto heading into earnings next week. Morgan Stanley names Dell a top pick Morga Stanley raised its price target on the stock and says it remains a best idea.
Persons: it's, Cantor Fitzgerald, Tesla, Canto, Tesla's, Wells, CTVA, KeyBanc, TD Cowen, Janus Henderson, Morgan Stanley, Palo, Bernstein, Mills, Campbell, underperform Bernstein, Wolfe, SunPower, Dell, Morga Stanley, Stephens, Truist, Oppenheimer, Will, DA Davidson Organizations: UBS, Nvidia, " Bank of America, Bank of America, Alphabet's, Google, JPMorgan, China, Deutsche Bank downgrades, Deutsche, Fair, Six, Sciences, NTR, Netflix, Energy, Palo Alto, Palo, Food, Tech, Barclays, General Motors, Holdings, ALC, Apple, Apple's Worldwide Developer's Conference, Will Apple, Walmart, D.A Locations: OW, Palo Alto, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Ritholtz's Josh Brown, Wells Fargo’s Chris Harvey and Truist’s Keith LernerRitholtz's Josh Brown, Wells Fargo's Chris Harvey, and Truist's Keith Lerner join 'Closing Bell' to discuss the resilience of the market rally, earnings season, and opportunity play in the market.
Persons: Ritholtz's Josh Brown, Wells, Chris Harvey, Truist’s Keith Lerner, Josh Brown, Truist's Keith Lerner
"That all really kind of plays right into Ollie's hands." Her $92 price target implies about 17%% upside from Monday's close. The average analyst has a buy rating and target for shares suggesting upside of more than 12%, according to LSEG. Ollie's shares are lagging the broader market in 2024 with a gain of almost 5% versus the S & P 500's 9% gain. OLLI 1Y mountain Ollie's shares over the past 12 months.
Persons: Anthony Chukumba, it's, Price, Melanie Nuñez, Ollie's, Nuñez, Chukumba, OLLI, Truist's Scot Ciccarelli, Ciccarelli, TJ Maxx, BofA's Nuñez, Chukumba's, FirstCash Organizations: Capital, Federal, Amazon, Walmart, Bank of America, Wall, Ross Locations: McDonald's, Harrisburg , Pennsylvania, Monday's, Ollie's
Analyst Scot Ciccarelli upgraded the retailer to buy from hold and raised his price target by $6 to $86. — Alex Harring 6: 22 a.m.: Here's what Wall Street thinks of Coinbase's earnings Coinbase's stronger-than-expected earnings have prompted analyst reactions. Barclays' Benjamin Budish (underweight, $179 price target unchanged, 21.8% downside): "The biggest question going forward is, how sustainable are these trends? — Alex Harring 6:12 a.m.: Wall Street reacts to Apple earnings Apple's buyback announcement has caught the eye of Wall Street analysts. Analyst Benjamin Nolan upgraded the railroad stock to buy from hold and increased his price target by $19 to $267.
Persons: Morgan Stanley, Jefferies, Bernstein, Aneesha Sherman, Sherman, — Alex Harring, Truist, Scot Ciccarelli, Ciccarelli, Ollie's, Estee Lauder, Dara Mohsenian, Mohsenian, Alex Harring, FactSet, Coinbase, what's, , Goldman Sachs, Will Nance, Benjamin Budish, Oppenheimer's Owen Lau, JPMorgan's Samik Chatterjee, Morgan Stanley's Erik Woodring, Michael Ng, bullish, George Notter, Notter, We've, it's, Stifel, Benjamin Nolan, Nolan, — Alex Harring —, Michael Bloom Organizations: CNBC, Arista and Union Pacific, Apple, Arista, FactSet, Barclays, Bloomberg, ASU, Street, Services, Jefferies, Arista Networks, Nvidia, Microsoft, Meta, Pacific, Union Pacific Locations: F3Q, China, Thursday's
JPMorgan upgrades Williams-Sonoma to neutral from underweight JPMorgan said in its upgrade of the stock that the home furnishings category is stabilizing. "We are downgrading shares of EXPE to Mkt Perform from OP with a target price of $145 vs. $165 previously." JPMorgan upgrades Joby to neutral from underweight JPMorgan said its bear thesis has largely played out for the aviation company. Guggenheim reiterates Target as buy Guggenheim said investors should buy the dip in shares of Target . Morgan Stanley downgrades Estee Lauder to equal weight from overweight Morgan Stanley said it sees a slower recovery for shares of Estee Lauder .
Persons: Stifel, Wells, Truist, OLLI, Guggenheim, Tim Cook, William Blair, Amgen, Jefferies, We've, Ari sta, it's, Morgan Stanley downgrades Estee Lauder, Morgan Stanley, Estee Lauder, TD Cowen, Parsons, Bernstein, Oppenheimer, CFRA, Berkshire Hathaway Organizations: RBC, FTAI Aviation, Pacific, Union Pacific, JPMorgan, Williams, WSM, BMO, Bank of America, Apple, Kiniksa Pharmaceuticals, JOBY, Guggenheim, Target, Citi, MCW, Arista, PSN, Avidity, ~$ Locations: Sonoma, EXPE, GEICO
"One woman wanted to rent my office to work," remembers Lisa Slocum, the airport Fifth Third Bank branch manager. Capital One closed its branch at Washington, D.C.'s Dulles International Airport in 2020, instead creating "airport lounges" for cardholders in Dulles, along with similar spots at airports in Denver and Dallas. Yet full-service airport bank branches are a relative rarity, surprising in a retail landscape that often resembles an upscale mall more than a terminal. Fifth Third BankWells Fargo operates a full-service branch in Las Vegas's Harry Reid International Airport, and according to a bank spokeswomen, has a multi-year relationship with the airport that involves both the branch and multiple ATMs throughout terminals. McAdam says ATMs and advanced-function kiosks are one thing, but a full-service branch, except maybe in the largest markets, is overkill.
Persons: Kevin Williams Nicolette Nelson, Nelson, It's, Lisa Slocum, Slocum, Hannah Thelen, Ashley Thelen, Mindy Kershner, CVG's, Marketing Brent Andersen, Andersen, that's, Chase, John Sieg, Sieg, Harry Reid, Wells Fargo, Brian Davis, Paul McAdam, Power, McAdam Organizations: Northern, Northern Kentucky International, Fifth Third Bank, Fifth, Bank, TSA, Third, Dulles, Airport, Capital One, Washington , D.C, Wings Credit Union, Paul International Airport, Wings, Marketing, JPMorgan Chase, PNC, Sky, Fifth Third Bank Wells, Harry Reid International Airport, Truist Bank, Hartsfield, Jackson Atlanta International Airport, Financial Locations: Fairbanks, Cincinnati, Northern Kentucky, Spain, Washington ,, cardholders, Dulles, Denver, Dallas, it'd, Kentucky, Minneapolis, St, Las, Vegas, New York City, New York
There have been 13 other market selloffs during the second year of a bull market since 1946, Belski noted. AdvertisementFollowing its 2021 pullback, the S&P 500 finished the second year of its bull market up 22.6% and 11.5% higher than its nadir. Valuations are still historically high, and mega-cap growth companies continue to make up a disproportionately large share of the S&P 500. Since Belski thinks this bull market has legs, he doesn't want to forgo future upside. These firms have higher earnings growth than the median S&P 500 name and also have lower price-to-earnings (P/E) and P/E-to-growth (PEG) ratios — a recipe for success.
Persons: , pales, Keith Lerner, Truist, Lerner, who've, Brian Belski, he's, Belski, selloffs Organizations: Service, Business, BMO Capital Markets, selloffs
Here are Tuesday's biggest calls on Wall Street: Loop initiates MongoDB as buy Loop sees growth accelerating for the developer data platform company. JPM reiterates General Motors and Ford as overweight JPMorgan said the stocks will benefit from "lower commodities & higher production outside China." JPMorgan upgrades Assai to overweight from neutral JPMorgan said it sees improving trends and better visibility for the Brazilian wholesaler. JPMorgan upgrades Roblox to overweight from neutral JPMorgan said it sees a "compelling entry point" for the stock. JPMorgan downgrades Five Below to neutral from overweight JPMorgan downgraded Five Below due to "ongoing macro pressure."
Persons: JPM, JPMorgan, KeyBanc, Wells, D.A, Davidson, Davidson's, Berenberg, Morgan Stanley, Harley, Evercore, it's bullish, it's, Tesla, Rosenblatt, Oppenheimer, Dwight, Key, Truist, Wolfe, Warner, Price Organizations: Motors, Ford, GM, Nvidia, MU, BMO, prem, NICE, JPMorgan, Barclays, Apple, Albertsons, Catalyst Watch, NOVA, Penn Entertainment, PENN, ESPN Bet, Benchmark, Qualcomm, Warner Brothers, Warner, HBO Locations: China, Texas, U.S
What does the dollar rally mean internationally? The US Commerce Department releases March figures on new orders for durable goods. The US Commerce Department releases its first estimate of first-quarter gross domestic product. The US Labor Department reports the number of new applications for unemployment benefits in the week ended April 20. The US Commerce Department releases March figures on household spending, income and the Fed’s preferred inflation gauge.
Persons: it’s, Michelle Bowman, Bell, Claudio Irigoyen, It’s, Samantha Delouya, , eMarketer, Ross Benes, Wall, Read, Lockheed Martin, Raymond James, Northrop Organizations: Washington CNN, Federal Reserve, Bank of America, Netflix, Verizon, Truist, Albertsons, The Chicago Fed, Visa, Tesla, Pepsico, Novartis, UPS, Lockheed, Banco Santander, Spotify, General Motors, Halliburton, Global, US Commerce Department, Meta, IBM, Boeing, Chipotle, Hilton, Ford, Hasbro, Whirlpool, Wyndham, Microsoft, Mobile, Caterpillar, Comcast, Intel, P Global, Honeywell, Gilead, Northrop Grumman, Valero, Capital, Nasdaq, Southwest Airlines, American Airlines, Citizens Financial, US Labor Department, National Association of Realtors, Bank of Japan, Exxon Mobil, Chevron, HCA Healthcare, Colgate, Palmolive, Phillips, Charter Communications, University of Michigan Locations: Europe, Japan, China, Roku
The Big Tech earnings next week could revive a flagging market, or at least give investors direction into where stocks are going from here. Wall Street is hoping next week's megacap tech results will give investors insight into where the artificial intelligence trade is going from here, as a bounce in tech could lift the indexes. They're also hoping a slew consumer commentary will give investors insight into the state of the economy. However, he said any pullback in the tech names could give investors an opening to start "nibbling away" at additional exposure. Personal Income 10 a.m. Michigan Sentiment NSA final Earnings: T. Rowe Price Group , Colgate-Palmolive , Exxon Mobil , Chevron , AbbVie , Phillips 66
Persons: Tesla, They're, Kim Forrest, Elon Musk, Emily Leveille, Scott Ladner, Ladner, Horizon's Ladner, FactSet, Baker Hughes, Philip Morris, Lockheed Martin, Raymond James Financial, Rowe Price, Phillips Organizations: Big Tech, Google, Microsoft, Bokeh, Nasdaq, Investors, Deutsche Bank, Reuters, Thornburg Investment Management, Meta, Consumer, Visa, Chicago, Verizon Communications, Ameriprise, Truist, PMI, New, Richmond Fed, Enphase, Tesla, NextEra, Philip Morris International, Halliburton, United Parcel Service, PepsiCo, Lockheed, Raytheon Technologies, GE Aerospace, Grill, Business Machines, Lam Research, Ford Motor, Technology, Waste Management, Universal Health Services, Raymond, Boeing, Hilton Worldwide Holdings, . Kansas City Fed Manufacturing, Mobile, Capital, Financial Corp, Intel, Western Digital, Comcast, American Airlines Group, Southwest Airlines, Valero Energy, Caterpillar, Tractor Supply, Royal Caribbean Group, GE, PCE, NSA, Rowe Price Group, Colgate, Palmolive, Exxon Mobil, Chevron Locations: China, Europe, U.S, NextEra Energy, Freeport, McMoRan, . Kansas, Michigan, AbbVie
Here are Wednesday's biggest calls on Wall Street: Barclays reiterates Tesla as equal weight Barclays lowered its price target on Tesla to $180 per share from $225 and said it sees a negative catalyst heading into earnings. Wells Fargo reiterates Microsoft as overweight Wells raised its price target on the stock to $480 per share from $460. Barclays reiterates Broadcom as overweight Barclays raised its price target on Broadcom to $1,500 per share from $1,405. Wells Fargo reiterates Goldman Sachs as overweight Wells said it gives a "gold star" to Goldman coming out of earnings. Truist reiterates Amazon as buy Truist raised its price target on the stock to $216 per share from $195.
Persons: Tesla, Mizuho, RCL, Hancock Whitney, Raymond James, it's, Vernova, Wells, AAPL, TD Cowen, Jefferies, Morgan Stanley, NVDA, Goldman Sachs, Goldman, Maxim, Truist Organizations: Street, Barclays, Royal Caribbean, Citi, GE, HSBC, Biotech, Apple, Microsoft, Broadcom, Education, Strategic Education, Guggenheim, Automotive, Netflix Locations: China, Gulf
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Trivariate's Adam Parker and Truist's Keith LernerAdam Parker, Trivariate Research founder and Keith Lerner, Truist senior market strategist, join 'Closing Bell' to discuss markets, earnings and risks to the market rally.
Persons: Trivariate's Adam Parker, Truist's Keith Lerner Adam Parker, Keith Lerner, Truist Organizations: Trivariate Research
The stock market ended the volatile week lower, but there could still be opportunities for plenty of companies' shares to rebound. CNBC Pro used its stock screener tool to find the most overbought and oversold stocks on Wall Street as measured by their 14-day relative strength index, or RSI. Stocks with a 14-day RSI above 70 are considered overbought, which indicates that shares might soon turn lower. Devon Energy made the list of overbought stocks, dominated by oil and gas producers, with an RSI of 82. On the other hand, Texas-based life insurer Globe Life , with an RSI of just 3, is among the most oversold stocks on Wall Street.
Persons: Roger Read, Devon, Wells, Deere, Lamb Weston, FactSet, , Fred Imbert Organizations: Dow Jones, CNBC Pro, Devon Energy, Exxon Mobil, Barclays, Exxon, Truist Securities, Deere, Globe, Research, Securities Locations: Devon, Wells, Delaware, Illinois, Texas, Lamb, Idaho
Read previewRoyal Caribbean's family-friendly private island is about to get a bit more crowded — with Gen Xers. Royal Caribbean's private island is a tropical dream for cruising families dotted with sprawling beaches, clubs, a zipline, and a waterpark. Royal Caribbean goes after multi-generational families, while Celebrity's target demographic is Gen Xers, Lisa Lutoff-Perlo, the then-CEO of Celebrity Cruises, told Business Insider in 2021. Celebrity sails to 300 ports on all seven continents — why this sudden push for the private Caribbean island? Brittany Chang/Business InsiderBut for the two brands' parent company, there are more benefits to private island cruising besides guest satisfaction.
Persons: , Gen Xers, Gen X, Brittany Chang, Xers, Lisa Lutoff, Michael Bayley, CocoCay, Patrick Scholes, Bayley Organizations: Service, Cruises, Royal, Business, Royal Caribbean Group, Apex, Celebrity Cruises, Royal Caribbean International, Truist Securities, Coco Locations: CocoCay, Fort Lauderdale , Florida, Royal Caribbean, that's, Royal, Caribbean, Brittany, cabanas
Cava — Shares jumped 4.4% after Argus upgraded the Mediterranean food chain to buy from hold, saying investors should buy the dip. Cava has a "long runway to growth," the firm said. Nvidia — Shares rose 1.7% as the "Magnificent Seven" leader tried to claw its way out of correction territory . Earnings came in at 45 cents per share, 9 cents ahead of the 36 cents expected by analysts polled by LSEG. Alibaba — Shares rose 1.2% on news that Jack Ma, co-founder of the China-based e-commerce company, touted Alibaba's management and talked about the potential for AI in an internal memo to employees.
Persons: Truist, Cava —, William Blair, Vital, Jefferies, Wednesday's, Albemarle, Jack Ma, Samantha Subin, Michelle Fox Theobald, Lisa Kailai Han Organizations: Hoka, Argus, Nvidia, Vital, Mizuho, Zillow, National Association of Realtors, GoodRx Holdings, Delta Air Lines, LSEG, Bank of America, Taiwan Semiconductor Manufacturing Locations: Cava, China
Nvidia — Stock in the chipmaker slipped less than 1% before the opening bell, but the artificial intelligence play and "Magnificent Seven" leader officially entered correction territory on Tuesday. Shares have fallen 10% from an all-time closing high of $950 per share on March 25. Alibaba Group — The China-based e-commerce stock rose nearly 3% on media reports that co-founder Jack Ma touted the company's management in an internal memo to employees. GoodRx — Shares climbed nearly 4% after KeyBanc upgraded the telemedicine stock to overweight on the heels of a strong subscriber growth forecast. Deckers Outdoor — Shares slipped more than 2% after Truist downgraded the footwear stock to hold over concerns that demand for core products including Hoka is declining.
Persons: Jack Ma, Truist, Ed Bastian, , Sarah Min, Tanaya Macheel Organizations: Nvidia —, Alibaba, Albemarle —, Bank of America, KeyBanc, Delta Air Lines, CNBC Taiwan Semiconductor Manufacturing Locations: China
As inflation concerns remain at the forefront of investors' minds, UBS is eyeing stocks that can find growth no matter the economic cycle. "We define compounders as all-weather stocks that leverage operational excellence and competitive advantages to grow through any phase of the economic cycle," analyst Joseph Parkhill wrote on Tuesday. S & P 500 stocks are trading near all-time high valuations of 20 times price to earnings and 14 times enterprise value/EBITDA, Parkhill said. Here's a look at some of the 17 stocks that UBS is watching. Stocks also on the UBS list include artificial intelligence plays Microsoft and Broadcom .
Persons: Joseph Parkhill, Parkhill, AMZN, Stephen Ju, Jay Sole, Stocks Organizations: UBS, Amazon, Microsoft, Broadcom
Bank of America reiterates Nvidia as buy Bank of America said it's sticking with the stock as a top pick. Mizuho reiterates Block as buy Mizuho raised its price target on the payment company to $106 per share from $99. Bank of America reiterates Coinbase as underperform. Bank of America reiterates Alphabet as buy Bank of America said "AI innovation [was] on display" at the company's Google Cloud Next event. " Deutsche Bank reiterates Amazon as buy Deutsche said the company is a top pick heading into earnings. "
Persons: Morgan Stanley, Piper Sandler, Tesla, Piper, Zillow, Jefferies, Mizuho, Goldman Sachs, Goldman, TD Cowen, Cowen, William Blair, Vital, Canaccord, Truist Organizations: NVIDIA, " Bank of America, Nvidia, Bank of America, Jefferies, Mizuho, SEC, Barclays, Google, Citi, Pharma, Chevron, Exxon, Vital, Argus, Motors, of America, Deutsche Bank, Amazon, Deutsche, E Corp, National, CN Locations: FCFS, Cava, CAVA, Albemarle, 1Q24, OW
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