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☆ David Einhorn is worried about the market, sees stickier inflation than expected
▼ + stars: | 2023-08-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Greenlight Capital's David Einhorn said he's getting concerned about the stock market after a strong rally and has added sizable downside protection to his portfolio. Between January and June, the S & P 500 popped 15.9% for its best first half since 2019. Einhorn, 54, believes inflation remains a big risk even though data has suggested easing price pressures. Recent inflation readings have shown a noted deceleration and the tailwind from higher rents is likely to dissipate, causing core inflation to fall further," Einhorn said. "Even so, we believe inflation is stickier and more entrenched than the market is currently appraising."

Persons: Greenlight Capital's David Einhorn, he's, Einhorn, Michael Burry Organizations: CNBC, Green Brick Partners, Nasdaq, Trust, NET

REUTERS/Adrees LatifNEW YORK, Aug 14 (Reuters) - Michael Burry, the money manager made famous in the book and film "The Big Short," held bearish options against the broad S&P 500 and Nasdaq 100 Index at the end of the second quarter, according to securities fillings released on Monday. Put options convey the right to sell shares at a fixed price in the future and are typically bought to express a bearish or defensive view. Michael Lewis' nonfiction book "The Big Short" was released in 2010 and the movie version came out in 2015. The S&P 500 (.SPX) is up roughly 17% for the year to date while the Nasdaq 100 (.IXIC) is up nearly 39% over the same period. Burry, who frequently turns over his portfolio, drew wide attention last August when he dumped all of his long positions and bought a stake in prison company Geo Group Inc (GEO.N).

Persons: Adrees Latif, Michael Burry, Michael Lewis, David Randall, Saqib Iqbal Ahmed, Ira Iosebashvili, Matthew Lewis Organizations: Nasdaq, REUTERS, YORK, Scion Asset Management, U.S, Nvidia, HK, Alibaba Group Holdings, Western Alliance Bancorp, First Republic Bank, RealReal Inc, Warner Bros ., Warner Brothers, Scion, Management, Geo Group Inc, Thomson Locations: Square, Midtown New York, New York

☆ Michael Burry of ‘The Big Short’ fame reveals potential big bets against the market, tech stocks
▼ + stars: | 2023-08-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Michael Burry, known for calling the subprime mortgage crisis, just unveiled potential massive bets against the stock market, according to a new regulatory filing released Monday. Burry's hedge fund, Scion Asset Management, owned put options against 2,000,000 shares of the SPDR S & P 500 ETF Trust , the popular ETF that tracks the S & P 500. These 20,000 options contracts were against shares worth $738.8 million at the end of the second quarter. The S & P 500 is off the last two weeks as investors debate whether the U.S. can skirt a recession and whether the Federal Reserve is done raising rates. Burry was depicted in Michael Lewis' book "The Big Short" and the subsequent Oscar-winning movie of the same name.

Persons: Michael Burry, Burry, QQQ, Michael Lewis Organizations: Scion Asset Management, Trust, Scion, Nasdaq, CNBC, Federal, MGM Resorts, CVS Health Locations: Burry's, U.S

☆ Soft landing hopes are drawing money back into this risky asset that’s paying 8% yield. How to navigate
▼ + stars: | 2023-08-10 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

High yield mutual funds and exchange traded funds saw inflows of $1.9 billion in July, Barclays said, citing Lipper data. High yield bonds are corporate issues that are rated below BBB, meaning they have a higher risk of default compared to their investment-grade counterparts. "When we are in junk and high yield names, we prefer loans – more senior loan positions rather than high yield." Novak added outside of high yield loans, the firm's other big fixed income play is higher quality investment grade bonds. "We don't think taking a heroic position [in high yield] makes a whole lot of sense in our view," he said.

Persons: Dow Jones, Bill Zox, it's, Zox, Bryan Novak, Novak, Brandywine's Zox, nonbank financials, Bill Ahmuty, Lawrence Gillum, Michael Bloom Organizations: Barclays, Fitch, Management, Brandywine Global, SEC, Astor Investment Management, Corporate, State, LPL

☆ The economy is stronger than people thought and there's no recession in 2023, says Invesco's Brian Levitt
▼ + stars: | 2023-08-09 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +2 min

"This is an economy that's stronger than people thought," Invesco strategist Brian Levitt told CNBC Tuesday. He also sees stocks as beginning a "FOMO" rally from now until the end of the year. Brian Levitt is upbeat on the US's economic prospects – and believes the rally that's lifted equities in 2023 still has room to run. "My expectation on what the market is telling us is that this is an economy that's stronger than people thought," Invesco's global market strategist told CNBC on Tuesday. "I would think it's a FOMO rally between here and the end of the year," Levitt said.

Persons: Brian Levitt, –, Levit, Levitt, Morgan, Mike Wilson, who's Organizations: CNBC, Service, Reserve Locations: Wall, Silicon

☆ Morning Bid: China trade data disappoints, again
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +3 min

U.S. equity markets saw their first positive day in August on Monday, but then along came Chinese trade data. Parsing the export data, David Chao, global market strategist at Invesco, says the miss was driven by lower prices rather than lower volumes, and that Chinese export volumes remain surprisingly robust. Though, he says, "looking at other export-related data such as export orders, the outlook appears weak." Even Chinese imports from Russia fell year-on-year in July, the first fall since Feb 2021. Tuesday looks quiet on the U.S. data front, but traders are bracing for the big one - Thursday's CPI data.

Persons: Alun John ., David Chao, Hong, Intesa, Banca, Banks, Moody's, Fed's Harker, Alun John, Barbara Lewis Organizations: Shipping, cnsphoto, REUTERS, Nasdaq, BPER Banca, Bank of New York Mellon, US Bancorp, Truist, Thomson, Reuters Locations: Shanghai, China, U.S, Hong Kong, Russia, Europe

☆ The market is telling us this is a stronger economy than people thought, says Invesco's Brian Levitt
▼ + stars: | 2023-08-07 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market is telling us this is a stronger economy than people thought, says Invesco's Brian LevittBrian Levitt, Invesco global market strategist and Adam Crisafulli, Vital Knowledge founder, join 'Closing Bell Overtime' to talk the day's market action.

Persons: Invesco's Brian Levitt Brian Levitt, Adam Crisafulli Organizations: Vital Knowledge

The list includes material companies that mine the mineral, including Southern Copper Corp. and Freeport-McMoRan . Shares of Southern Copper jumped nearly 22% last month, while Freeport-McMoRan gained 11.6%. There are some other stocks on the list that have a less obvious exposure to copper, such as financial stocks Invesco and KKR . The metal often referred to as "Doctor Copper" is seen as a leading economic indicator, and financial stocks are cyclical plays. Financial stocks and copper rising could be a sign that business leaders and investors are growing more confident about the economy.

Persons: Russell Organizations: HG, Southern Copper Corp, Southern Copper, Copper Miners, KKR Locations: Freeport, McMoRan

☆ These 11 funds have performed as well as tech stocks over the past 5 years
▼ + stars: | 2023-07-28 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Look beyond tech But there are opportunities beyond tech: Morningstar data reveals the funds outside of tech and growth sectors that have also outperformed over the last five years. Top holdings include Home Depot, Johnson Controls International, Floor & Décor and Trane Technologies. Guinness Atkinson Alternative Energy Fund : This fund picks companies in the alternative energy sector, with at least half of the business dedicated to renewable energy or energy efficiency. Global X Lithium and Battery Tech ETF : The ETF comprises lithium producers and lithium battery makers — all essential to electric vehicles. Top holdings include United Airlines, Marathon Oil, Tyson Foods, Best Buy, and Synchrony Financial.

Persons: James Demmert, Hubbell, MasTec, Invesco Russell, Russell, Vanguard Baillie Gifford Organizations: Street Research, U.S . Federal, Morningstar, Enphase Energy, Fidelity, Housing, Home, Johnson, Trane Technologies, Guinness Atkinson Alternative Energy Fund, Schneider, NextEra Energy, Shelton Sustainable Equity Fund, Bunge, Battery Tech ETF, Samsung SDI, Trust, Industrial Renaissance, SPX Technologies, Sterling Infrastructure, Global, U.S . Infrastructure Development, Holdings, Rockwell Automation, United Rentals, Deere, Co, United Airlines, Marathon Oil, Tyson Foods, Synchrony, Heptagon, Equity Fund, Xenon Pharmaceuticals, TransMedics, FTAI Aviation, Vanguard, Moderna, Alnylam Pharmaceuticals, Coursera, Water Resources, Nasdaq, Water Locations: Luxembourg, Eaton, Albemarle

Still, money market traders are split on the odds of another increase later in the year.FEDWATCH"The 25 basis point rise is a done deal. "The risk is that the Fed, looking at market bullishness, may not want to sound too dovish - they may want to keep the door open for more rate hikes." The MSCI world equity index (.MIWD00000PUS), which tracks shares in 47 countries, was flat. In Hong Kong, the Hang Seng index (.HSI) was down 0.3% and China's blue chip CSI300 index (.CSI300) was off 0.2%. Positive sentiment had returned to China's market on Tuesday, when the CSI 300 Index snapped a six-day losing streak.

Persons: Luca Paolini, Alison Rose, Nigel Farage's, We're, David Chao, Tom Wilson, Scott Murdoch, Jamie Freed, Kim Coghill Organizations: Fed, Federal, Pictet Asset Management, NatWest, BBC, Lloyds, CSI, ECB, Brent, Thomson Locations: SYDNEY, U.S, Germany, France, Britain, CHINA, Asia, Pacific, Japan, Hong Kong, London, Sydney

3M posted $7.99 billion in revenue, beating analysts' estimates of $7.87 billion, according to Refinitiv. Elsewhere, RTX reported second-quarter earnings that topped Wall Street expectations, posting $1.29 in adjusted earnings per share on $18.32 billion in revenue. The home appliance company posted revenue of $4.79 billion, lower than the consensus estimate of $4.82 billion, according to Refinitiv. It did beat on earnings expectations, reporting adjusted earnings of $4.21 per share, higher than the $3.76 estimate. The company notched adjusted earnings per share of $3.29, while analysts estimated $2.70 per share.

Persons: Refinitiv, RTX, it's, Biogen, Morgan Stanley, FactSet, General Motors, Invesco, Andrew Schlossberg, BTIG, Sherwin, Williams, Yun Li, Samantha Subin, Sarah Min, Tanaya Macheel, Brian Evans, Alex Harring Organizations: Spotify, Alaska Air, Pratt & Whitney, Airbus, General, GE, Whirlpool, Revenue, LG Electronics, LG Energy, GM, Refinitiv, UPS, Teamsters, Xerox –, Xerox, Packaging Corp, America, Secure

☆ ETF strategies to broaden beyond the mega-cap tech rally
▼ + stars: | 2023-07-25 | by ( Kevin Schmidt | ) www.cnbc.com time to read: +1 min

Investors looking to diversify beyond the tech sector runup this year can consider a handful of alternative ETFs to reduce ballooning concentration risk, said one ETF strategist. "The consternation over the mega-cap tech names driving the market — I understand it," Todd Sohn, Strategas ETF and technical strategist, told CNBC's Bob Pisani on "ETF Edge" on Monday. "It's a very under-the-radar fund," Sohn said. "[When] you think of Vanguard, you think VOO [and] VTI , their fixed-income products. For tactical investors looking to diversify into a more balanced fund, Sohn recommended the RSP, which tracks the equally weighted performance of all S&P 500 stocks.

Persons: Todd Sohn, CNBC's Bob Pisani, " Sohn, Russell, Uber, Sohn Organizations: RSP, Blackstone, Marvell Technology, Vanguard

☆ Morning Bid: Big Tech litmus test as Fed gather
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +4 min

The wider blue-chip CSI 300 Index (.CSI300) snapped a six-day losing streak to pop 3% and buying from state banks propped the yuan. Both oil and Treasury yields gave back some of those gains again today, however, with year-on-year crude price declines still tracking more than 21%. There was little ostensible reaction to the formal rebalancing of the Nasdaq 100 (.NDX) index that pared weightings of several of the big caps to reduce "over-concentration". The approach of Wednesday's Fed decision may limit market moves until then. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Dolan, sagged, Dow Jones bluechips, Alphabet's, Clark, Chubb, Paccar, Sherwin, Williams, Archer, Ed Osmond Organizations: Big Tech, Microsoft, Federal Reserve, European Central Bank, ebbing, Nasdaq, Google, Texas, NextEra Energy, Visa, GE, GM, Dow, Verizon, Universal Health, Daniels, Richmond Fed, Philadelphia Fed, Federal, Market, Monetary Fund, Treasury, Reuters, Thomson Locations: U.S, Hong, Europe, China, Danaher, Corning, Kimberly, Biogen, Dover, Nucor, Midland

☆ Stock market's short-term momentum has slowed, says Fairlead Strategies' Katie Stockton
▼ + stars: | 2023-07-24 | 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 EmailStock market's short-term momentum has slowed, says Fairlead Strategies' Katie StocktonKatie Stockton, Fairlead Strategies founder, joins 'The Exchange' to discuss Invesco QQQ technicals, SMH semiconductor ETF experiencing a decline in short-term momentum, and positioning strategies for a long-term tech play.

Persons: Katie Stockton Katie Stockton, QQQ

☆ Bitcoin could soar to $180,000 before the April 2024 halving as potential BlackRock ETF helps drive demand, Fundstrat says
▼ + stars: | 2023-07-24 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Fundstrat said a bitcoin ETF from BlackRock could drive a boost in daily demand for the crypto token. If the SEC approves a bitcoin ETF from BlackRock, it could lead to the largest ETF launch ever. A bitcoin ETF could add an extra $100 million in incremental daily demand for bitcoin, according to the note. "This [bitcoin ETF launch] would bring daily demand to $125 million, while daily supply is only $25 million. "We anticipate [a bitcoin ETF] would attract new investors and generate increased demand for bitcoin," Farrell said.

Persons: Fundstrat, halvening, Sean Farrell, Farrell Organizations: SEC, ETF, Service, bitcoin, BlackRock, Fidelity, Chartered Locations: BlackRock, Wall, Silicon

JPMorgan's chief global markets strategist, Marko Kolanovic, advises investors to play commodities against recession risks. Kolanovic named natural gas as his top pick within the commodities sector. Investors can look to the United States Natural Gas Fund LP (UNG) to gain exposure to the commodity; it's down about 48% year to date. The strategist forecasts U.S. natural gas prices to undergo a 25% rally in the next few months on expectations of a supply growth reversal. Backwardation is what happens when the spot price is higher than the price of the approaching futures' contracts.

Persons: Marko Kolanovic, Kolanovic, — CNBC's Michael Bloom Organizations: United States Natural Gas Fund, DB Agriculture Fund, Brent Oil Fund Locations: U.S

With 99% of votes counted by 11:45 p.m. (2145 GMT), the opposition People's Party (PP) had 136 seats while Prime Minister Pedro Sanchez's ruling Socialists (PSOE) had 122 seats. Reuters Graphics Reuters GraphicsNegotiations by the two blocs to form governments will start after a new parliament convenes on Aug. 17. Prime Minister Pedro Sanchez called a surprise snap election after the left took a drubbing in local elections in May. In the present scenario, Sanchez' PSOE would rely heavily on Catalan separatist parties Junts and ERC or Basque separatists EH Bildu. In 2019, two more elections were held before the PSOE and far-left Podemos agreed to form Spain's first coalition government.

Persons: Pedro Sanchez's, Vox, King Felipe VI, Alberto Nunez Feijoo, Mariano Rajoy, Sanchez, Steve Smith, Pedro Sanchez, Ignacio Jurado, Carlos, Juan Medina, Madrid's Calle Genova, Galo Contreras, we're, Francisco Franco, Teruel Existe, El, Junts, Carles Puigdemont, Podemos, Jose Ignacio Torreblanca, Belen Carreno, Jesus Aguado, Emma Pinedo, Joan Faus, Corina Pons, Charlie Devereux, Nick Macfie, Frances Kerry, Cynthia Osterman Organizations: PSOE, People's Party, Socialists, Reuters Graphics Reuters, European Union Council, Voters, Feijoo's PP, Vox, Carlos III University, People's, REUTERS, Madrid's Calle, PP, Basque Nationalist Party, Teruel, Junts, ERC, Basque, European Council, Foreign Relations, Thomson Locations: MADRID, Spain, swimsuits, Madrid, Madrid's, Burgos, El Pais, Catalan

☆ A millionaire who retired at 36 and invested in 9 index funds shares how one would have yielded him an extra $680,000 if he had picked it instead — and the funds he's decided to sell
▼ + stars: | 2023-07-22 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

He learned about target-date funds, which pool a basket of individual funds designed to rebalance the securities based on your years to retirement. Then, he compared the result to having 100% of the amount invested in a target-date index fund called the Fidelity Freedom Index 2050 Investor (FIPFX). "If I could go back in time, I would dump every penny to my name in a single target-date index," Schneider said. Pie chart breakdown of nine initial index funds Portfolio Visualizer, Jeremy Schneider. Additionally, holding a target-date fund in a regular brokerage account instead of a tax-advantaged account may not be tax optimal.

Persons: Jeremy Schneider, wouldn't, Schneider, patted, Visualizer, it's, FIPFX Organizations: Finance, DB, Fidelity

☆ This sleepy Dow ETF is gaining traction as the old-school average looks for a 10-day win streak
▼ + stars: | 2023-07-21 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The Dow rose for the ninth consecutive trading session Thursday, its longest winning streak since 2017. Meanwhile, the SPDR Dow Jones Industrial Average (DIA) has raked in more than $1 billion in net inflows over the past week. Here are some other notable ETF data points from the past week. The fund has gained more than 4% this month and brought in about $300 million in new cash over the past week. SPY saw abnormally high outflows of more than $10 billion over the past week.

Persons: Dow, Goldman Sachs Organizations: Dow Jones, DIA, Trust, Big Tech, Microsoft, UnitedHealth, Vanguard, CSI China Internet

☆ There are 'pockets of opportunity' in Asia for investors, says Invesco
▼ + stars: | 2023-07-21 | 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 EmailThere are 'pockets of opportunity' in Asia for investors, says InvescoDavid Chao of Invesco discusses which Asian markets and asset classes he finds attractive as the Fed approaches the end of its tightening cycle.

Persons: Invesco David Chao, Invesco Organizations: Fed Locations: Asia

☆ Friday will be an active day on Wall Street with a major index overhaul and options expiration
▼ + stars: | 2023-07-21 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

"We estimate that this Friday will be the largest July-options-expiration on record driven by continued growth in index and ETF options volumes. The other major change is a special rebalance of the Nasdaq 100 Index , which takes effect at the start of trading on Monday. The Nasdaq 100 rebalance will dilute the impact of the largest stocks in the index. The changes could force index funds and other investment products benchmarked to the Nasdaq 100 to adjust their holdings. The Invesco QQQ Trust (QQQ), which tracks the Nasdaq 100, manages more than $200 billion in assets.

Persons: Goldman Sachs, John Marshall, — CNBC's Michael Bloom Organizations: New York Stock Exchange, Goldman, Nasdaq, Big Tech, Microsoft, Nvidia, Broadcom Locations: New York City, U.S

The residential solar panel company has outperformed both the Invesco Solar ETF and the S & P 500 in 2023. Sunnova shares are up 25%, while the fund has lost 2%. NOVA YTD mountain Sunnova Energy shares "We remain constructive on NOVA and residential solar growth in the U.S. longer-term. That said, the macro backdrop for U.S. residential solar remains challenging," Thakkar wrote in a Friday note. "Dealer growth has been a key driver of success in a difficult environment.

Persons: Ameet Thakkar, Thakkar, Sunnova, — CNBC's Michael Bloom Organizations: Sunnova Energy, BMO, NOVA, Treasury Locations: U.S

July 19 (Reuters) - The U.S. Securities and Exchange Commission (SEC) has accepted applications to create spot bitcoin exchange-traded funds from six firms including BlackRock (BLK.N) for review, the first step in the agency's process for deciding whether or not to approve the latest round of proposals. The SEC also formally acknowledged applications from Bitwise, VanEck, WisdomTree (WT.N), Fidelity and Invesco (IVZ.N) for similar spot bitcoin ETFs, with those proposals appearing on the Federal Register Tuesday and Wednesday. The SEC has previously rejected dozens of spot bitcoin ETF applications, saying the proposals did not meet anti-fraud and investor protection standards. The first bitcoin futures ETF was approved in October 2021, helping send the volatile bitcoin to an all-time high of $69,000 in November 2021. Spot ETFs directly track the price of the cryptocurrency, while futures-based ETFs follow the price of bitcoin futures contracts.

Persons: Hannah Lang, Andrea Ricci Organizations: U.S . Securities, Exchange Commission, SEC, BlackRock, Fidelity, Federal Register, Nasdaq, Coinbase, CBOE Global, Thomson Locations: U.S, Washington

☆ After an 80% rally for bitcoin, market experts predict where it's going next in 2023
▼ + stars: | 2023-07-18 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Bitcoin made a stunning jump in the first half of 2023, hitting $30,000 again for the first time in months. Five market experts responded to CNBC questions via email, and three said they expect bitcoin to reach the $50,000 level by the end of 2023. That is a net annual reduction in selling of BTC 250,000 — a large number relative to bitcoin market turnover." "We previously predicted that this driver would add USD 10,000 to the bitcoin price," he added. Mobius said he expects bitcoin to climb to $40,000 by the end of 2023, citing investor "belief" in the digital coin.

Persons: Bitcoin, Carol Alexander, Geoff Kendrick, Kendrick, Antoni Trenchev, wouldn't, Mark Mobius, Tim Draper, Mobius, bitcoin, Draper didn't, —, Kevin Schmidt Organizations: BlackRock, CNBC Pro, CNBC, Sussex University, SEC, British, Chartered, Standard Chartered, BTC, Federal Reserve, Mobius Capital Partners, Draper Associates, Trust, Fidelity, U.S . Securities, Exchange Commission Locations: Terra, Binance

☆ This massive tech ETF just hit a new record high, but investors are still on the sidelines
▼ + stars: | 2023-07-18 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The excitement around artificial intelligence and the surprisingly strong U.S. economy has pushed one major tech ETF to a new all-time high, even as many investors remain skeptical of this year's rally. The Technology Select Sector SPDR Fund (XLK) closed at $178.24 per share on Monday, setting a new record high. So that strength is being reflected with the sector at a new high," Strategas ETF strategist Todd Sohn said in an email. The Vanguard Information Technology ETF (VGT) , which has nearly $54 billion in assets under management, has also seen outflows this year. The iShares U.S. Technology ETF (IYW) has brought in cash but still trails in overall assets with less than $14 billion.

Persons: Todd Sohn Organizations: Federal Reserve, Big Tech, Tech, Nasdaq, Vanguard Information Technology, Technology Locations: U.S

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