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☆ China's $114 billion stimulus package immediately boosted its stock market. But can it last?
▼ + stars: | 2024-09-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

AdvertisementUS financial firms' interest in China was on its last legs, but a new stimulus package has some investors excited again. The immediate impact of China's $114 billion package, which includes cutting interest rates and reducing the amount of money banks need to keep in reserve, has been big. Traders, investors, and speculators have sent China's stock market to its best month in nearly a decade , signaling that the market players think that Beijing's moves are a "bazooka." Our annual list of Wall Street rising stars is here. According to a new report from The Wall Street Journal, executives attempted to woo the AI researcher back before rescinding the offer.

Persons: —, Andres Martinez Casares, Alyssa Powell, Linette Lopez isn't, Linette, Jon Hicks, that's, David Tepper, He's, Tepper, Pan Gongsheng, BI's Filip De Mott, Wall, Natalie Ammari, Crypto, Donald Trump, Kamala Harris, Marc Piasecki, Tyler Le, who's, OpenAI execs, Ilya Sutskever, it's, Tara Anand, aren't, Jerome Powell, Ryan Routh, El Chapo, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Grace Lett, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Traders, Bank of China, bros, Trump, Getty, Houston Chronicle, Hearst Newspapers, Elon, Wall Street Journal, Netflix, Longshoremen's Association, National Association for Business Locations: China, New York, London, Chicago

☆ Analyst: Ishiba becoming Japan's Prime Minister increases our resolve that BOJ will not hike rates
▼ + stars: | 2024-09-30 | 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 EmailAnalyst: Ishiba becoming Japan's Prime Minister increases our resolve that BOJ will not hike ratesSteven Glass of Pella Funds says the Japan market looks 'distorted' and is not an investor. He says Japan's weak GDP growth, imported inflation and stock market impact are reasons for BOJ to not hike interest rates.

Persons: Steven Glass Organizations: Japan's, Pella Funds Locations: Pella, Japan

☆ Amongst the U.S. tech stocks, sell those and buy these, says strategist
▼ + stars: | 2024-09-30 | 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 EmailAmongst the U.S. tech stocks, sell those and buy these, says strategistDave Sekara of Morningstar believes that the U.S. stock market is currently well priced despite some overvalued stocks. He recommeneds some undervalued small cap and value stocks.

Persons: Dave Sekara, Morningstar

☆ The stock market is headed for a 10% correction as the job market slows and inflation stays sticky, Stifel stock chief says
▼ + stars: | 2024-09-30 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The bank's stock-strategy chief pointed to the slowing job market and the potential for sticky inflation. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe stock market could be headed into an end-of-the-year correction, according to Stifel's Barry Bannister. The slowing job market has already caught the attention of investors, who are watching for signs of continued economic weakness. "It's very hard to justify getting below 3% without a slowdown," Bannister said of interest rates.

Persons: Stifel's Barry Bannister, —, " Bannister, Bannister Organizations: Service, CNBC, Conference, Challenger, Investors, Investor

☆ Analysis: China is celebrating National Day but with the economic downturn not everyone is in the party spirit
▼ + stars: | 2024-09-30 | by ( Nectar Gan | ) edition.cnn.com time to read: +10 min

Tourists visit an ancient city gate in Beijing, China ahead of National Day. The stock market may be in the midst of one of its most remarkable turnarounds, but economists say reversing China’s economic downturn will require much more work. “Stimulating the stock market doesn’t really do much for the real economy in China. Very few people invest in the stock market compared to other major markets,” said Logan Wright, director of China markets research at Rhodium Group. Property woesThe outlook for the real estate industry, which makes up about a quarter of the Chinese economy and 70% of household wealth, remains dim.

Persons: Japan’s “, Xi Jinping, Xi, Xu Tianchen, Hong, David Tepper, ”, Logan Wright, Wright, There’s, ” Wright, “, hasn’t, Alfred Wu, Lee Organizations: Hong Kong CNN, Economist Intelligence Unit, Reuters, Shenzhen bourses, Securities Times, Tourists, Management, CNBC, Barclays, Communist Party, Lee Kuan Yew, of Public, National University of Singapore Locations: Hong Kong, China, People’s Republic, United States, Beijing, Shanghai, Shenzhen, Guangzhou, China’s, Xi’s

☆ Jim Cramer names the Wall Street bright spots from a tumultuous third quarter
▼ + stars: | 2024-09-30 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Monday looked back at the past three months, picking out positives in a chaotic stretch for the market. He added that the central bank set the stage for a substantial rate cut so they could make the move without sending Wall Street into a panic. The market also broadened out after Big Tech had dominated for months on end, Cramer said. And despite the tumult in the leadup to a divisive presidential election, Wall Street "chose to ignore the drama," he said. "The months of July, August, September gave us some outstanding returns," Cramer said.

Persons: CNBC's Jim Cramer, Cramer, Kamala Harris, Joe Biden, Donald Trump Organizations: Big Tech, Democratic

☆ Here’s why Japan’s stocks are plunging after Shigeru Ishiba’s win
▼ + stars: | 2024-09-30 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

Japan's August retail sales climbed 2.8% year on year, beating Reuters poll estimates of a 2.3% rise, and up from a revised 2.7% rise in July. Ishida had beaten Economic Security Minister Sanae Takaichi in the final round of the Liberal Democratic Party election on Friday, sending the yen into a volatile session. A higher interest rate typically strengthens the yen and puts pressure on Japanese stock markets, which are heavily weighted by exporters. Chinese rally puts pressureThe Nikkei's decline on Monday also comes at a time when China's markets have been surging. Stock Chart Icon Stock chart icon

Persons: Shigeru Ishiba, Ishida, Sanae Takaichi, Ryota Abe, Takaichi, Ishiba, Abe, Steven Glass, CNBC's Organizations: Economic, Liberal Democratic Party, Bank of Japan, Sumitomo Mitsui Banking Corporation, CNBC, Bank of, Pella Funds Management, CSI Locations: Tokyo, Japan, Pella, Hong

☆ Top Wall Street strategists say a strong jobs report will kick off a rotation into lower-quality stocks
▼ + stars: | 2024-09-30 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

A strong jobs report would boost low-quality stocks, Goldman Sachs and Morgan Stanley analysts say. AdvertisementInvestor eyes are locked on the upcoming jobs report, due Friday. If it comes in strong, that will be great news for less-loved, lower-quality stocks, analysts from Goldman Sachs and Morgan Stanley say. Morgan Stanley's equity-strategy team is also keyed in on the jobs report. Wilson also highlighted the jobs report as a possible catalyst for rotation towards low quality in the stock market.

Persons: Goldman Sachs, Morgan Stanley, Goldman, —, David Kostin, Morgan, Mike Wilson, Wilson, nonfarm payrolls Organizations: Service, firm's

☆ 3 cheap areas of the stock market to buy as the Fed unveils a 'rare double whammy' of stimulus, BofA says
▼ + stars: | 2024-09-30 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

AdvertisementThe large-cap real estate sector benefits from Wall Street's massive investment in data centers, a necessary infrastructure component of the artificial intelligence buildout. AdvertisementIn Subramanian's view, part of the appeal of value sectors is the high dividends they offer. As the Fed's cutting cycle pulls down short-term yields, money market investors will search for new sources of income. She previously noted that dividend yields are especially alluring in real estate. Since 2008, real estate dividends has doubled the proportion of high-quality market cap.

Persons: they're, Subramanian, —, Savita Subramanian, BofA's, BofA, Scott Chronert Organizations: Bank of America, Service, CNBC, Bloomberg Locations: China, Beijing

☆ Stock market today: US indexes edge higher to records as Powell talks up strength of the economy
▼ + stars: | 2024-09-30 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Powell emphasized the economy's strength and recalibrated interest rate cut expectations. Investors are also eyeing key employment data releases this week for further market direction. All three major indexes moved higher in late trading following Powell's comments about the strength of the US economy. AdvertisementPowell's comments recalibrated interest rate cut expectations in the market. Here's where US indexes stood at the 4 p.m. closing bell on Monday:AdvertisementAside from Fed comments, investors are preparing for a wave of employment data this week.

Persons: Jerome Powell's, Powell, —, Jerome Powell Organizations: Service, Dow, Federal, National Association for Business Economics

☆ Chinese stocks are on fire, and this sector is poised to benefit
▼ + stars: | 2024-09-30 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The Chinese stock market just had its best single day in more than a decade. It's also the last trading day of the week in China due to the Golden Week holiday. Against this backdrop, Roth MKM's JC O'Hara highlighted one S & P 500 sector that might benefit the most from a rebound in China's economy: materials. Some materials stocks highlighted by O'Hara as potential winners, at least based on their price charts alone, are O-I Glass , Corteva and Freeport-McMoRan . To be sure, investors should tread carefully in materials, O'Hara said.

Persons: It's, Roth MKM's JC O'Hara, O'Hara Organizations: CSI, Seaport, Disney Locations: China, Freeport, McMoRan

☆ Stock market today: US indexes drop as investors prepare for wave of jobs data this week
▼ + stars: | 2024-09-30 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks dipped slightly on Monday as investors await key employment data this week. Economists predict about 145,000 new jobs in September, with the unemployment rate steady at 4.2%. The Fed's renewed focus on jobs data could influence future interest rate cuts. AdvertisementUS stocks edged lower on Monday as investors prepare for a wave of employment data this week. Economists expect about 145,000 jobs added to the economy in September, with the unemployment rate staying flat at 4.2%.

Persons: —, Shigeru Ishiba Organizations: Service, Here's, Overseas, CSI, Nikkei Locations: China

☆ Chinese property stocks surge after 3 major cities relax restrictions on homebuying
▼ + stars: | 2024-09-30 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

Chinese property stocks climbed 7% on Monday three major cities eased homebuying rules. China's property sector has struggled amid falling home prices, vacant supply, and debt. AdvertisementChinese property stocks got some positive news on Monday as three major cities announced easing of home-purchase restrictions. The surge comes after the cities of Shanghai, Shenzhen, and Guangzhou loosened homebuying restrictions, and after nation's central bank said it will allow refinancing of mortgages. The moves are part of China's new stimulus package meant to reinvigorate its slowing economy and weak property sector.

Persons: —, Morgan Stanley, Stephen Cheung Organizations: Service, Mainland Properties, Longfor, Holdings, Hang Lung, CSI Locations: Hong Kong, Shanghai, Shenzhen, Guangzhou, Beijing

(Harris, 59, is herself among the youngest baby boomers, born in 1964, the last year that’s considered part of the generation.) Smith and her husband have struggled to stretch their monthly Social Security income of around $4,000 as their costs have increased. The average Social Security check was around $2,000 at the start of the year and adjusts annually for inflation. About half of Social Security recipients make enough income to have their benefits taxed, according to the Social Security Administration. Polls show a tightening race between Trump and Harris among seniors, with Harris appearing to pick up support compared to Biden.

Persons: Teresa Smith, Smith, Donald Trump, Joe Biden, Kamala Harris, she’s, “, he’d, “ He’s, Harris, that’s, Mitt Romney, Barack Obama, ”, Bob Ward, Fabrizio Ward, Biden, hasn’t, ” Trump, Medicare —, Walz, Seth Schuster, Trump, Phil Martin, Martin, Pam, “ Trump’s, Denise Meyer, ” Meyer, Kamala, Gary Schlossberg, Dick Edgecombe, Edgecombe, we’re, Gary Allen, Allen, Kristen Soltis Anderson Organizations: White House, Democratic, Trump, Republicans, Biden, AARP, Social Security, Social, Social Security Administration, Medicare, Pew Research Center, NBC, FedEx, Wells, Investment Institute, Republican, “ Locations: Georgia, North Carolina, Charlotte, Wells Fargo, “, Pennsylvania, Pittsburgh, ”, Michigan

☆ Stock futures are little changed to kick off final session of a strong month and quarter: Live updates
▼ + stars: | 2024-09-29 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

U.S. stock futures were flat to kick off the final trading session of September after the major averages rose to their third consecutive week of gains. S&P 500 futures added just 0.04% and Nasdaq 100 futures inched up 0.08%. The 30-stock Dow rose 0.3% on Friday to finish at a new all-time high and end the week around 0.6% higher. Month to date, the Dow and the broad market index are up 1.8% and 1.6%, respectively. Markets had a rough start to what is historically the weakest month for the stock market, but rebounded as September went on with the Federal Reserve cutting interest rates by a super-sized half point.

Organizations: Dow Jones Industrial, Nasdaq, Dow, Markets, Federal Reserve

☆ These 2 market indicators with perfect track records since 1984 are flashing a Harris presidency — but they could be wrong this time
▼ + stars: | 2024-09-29 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

The S&P 500's positive performance this year means that a Harris victory is likely, history says. The S&P 500 has gained 10% since August 5, and if it keeps going up, a Harris victory seems imminent. Likewise, the so-called Misery Index is flashing a Harris victory. If the stock market declines, the outlook for a Harris victory could quickly sour. While these indicators might be flashing a Harris victory for now, nothing's set in stone leading up to this election.

Persons: Harris, —, LPL, Adam Turnquist, Turnquist, it's, Jerome Powell, Lynch, nothing's Organizations: Service, Comerica Wealth Management, Federal

☆ The one sector of the stock market that is cheap with upside today
▼ + stars: | 2024-09-29 | by ( Karen Firestone | ) www.cnbc.com time to read: +5 min

The table and chart below illustrate some characteristics of the biopharma stocks. The average price/earnings multiple for the group, using 2025 estimates, is 12.7 times versus 20.6 times for the S & P 500. A major knock on the biopharma group is the limited productivity from their extremely expensive research efforts, other than obesity drugs, over the past twenty-five years. The technology using AI might not be ready yet, particularly related to the complex biology of the human body. Complex programs exist already, such as AlphaFold, which predicts the structure of three-dimensional compounds using data on protein sequences.

Persons: Bristol Myers, Amgen, Eli Lilly, Lilly, Johnson Organizations: CNBC, Merck, Pfizer, Novo Nordisk, JPMorgan Locations: Bristol

☆ These 3 ugly duckling stocks will become beautiful swans as the Fed cuts rates
▼ + stars: | 2024-09-29 | by ( Jim Cramer | ) www.cnbc.com time to read: +14 min

Some of it had to do with the old joke being that Best Buy was nothing but an Amazon showroom. CEO Corie Barry is a no-nonsense heavyweight who mastered the supply chain for Best Buy during the pandemic. As the JPMorgan recent upgrade on Best Buy said, most investors don't realize how awful this period has been for Best Buy. It doesn't hurt, of course that Best Buy has a substantial dividend — 3.68%, down from 4% and 5% when we were buying it. We have watched Eaton and Dover go higher and that was without the rate cycle, just with the data center.

Persons: Stanley Black, Decker, —, couldn't, Corie Barry, Barry, don't, It's, Stanley, Trump, Helene, Hock Tan, Marc Benioff, Mike Sievert, Blackwell, Jim Cramer's, Jim Cramer, Jim, Melissa Repko Organizations: Empire, Circuit, Intel, HP Inc, HP, JPMorgan, Williams, Dick's Sporting Goods, Abercrombie, Fitch, Depot, Procter, Gamble, Linde, Honeywell, Quantum Computing, Tech, Broadcom, VMWare, Elon, Mobile, Nvidia, Jim Cramer's Charitable, CNBC, Microsoft Locations: Sonoma, Covid, China, Lowe's, Eaton, Dover, San Francisco, Secaucus, N.J

☆ Despite Stock Market Hopes, China's Stimulus Plan Won't Fix Economy
▼ + stars: | 2024-09-29 | by ( Linette Lopez | ) www.businessinsider.com time to read: +7 min

Homebuyers can also now put less money down on their purchases — an attempt to breathe life into China's moribund property market. Since the pandemic, China's leader, Xi Jinping, has done little to stop the bleeding in the country's property market or to get China's ailing consumers to start spending money again. Xi's Beijing lacks the will and the power to turn China's economy around. At the heart of its problems is a lack of consumer demand and a property market going through a deep, slow-moving correction. Plus, there's Xi, who seems fairly uninterested in restructuring the property market.

Persons: Gongsheng, Wall, Xi Jinping, China —, Goldman Sachs, —, Sam Altman, Genéralé, Michael Pettis, Xi doesn't, Friedrich Hayek, Xi Organizations: Beijing, People's Bank of China, People's Bank, Shanghai, Chinese Communist Party, Nasdaq, CCP, Peking University, Carnegie Endowment, European Union Locations: China's, China, Beijing, Austrian

☆ Stocks to play the China trade until the latest stimulus package kicks in
▼ + stars: | 2024-09-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Until the government's measures pan out, investment strategists are recommending a handful of oversold stocks in China. U.S. hedge fund billionaire David Tepper said Thursday on CNBC's " Squawk Box " that he bought more Chinese stocks after the change in China policy. That hedge fund allocation rose to 7.3% on Tuesday, which saw the largest single day purchases by hedge funds since March 2021, Rubner said. Retail investors account for the majority of trading activity in mainland Chinese stocks, also known as A shares. Mainland Chinese stock exchanges are scheduled to close from Oct. 1 to Oct. 7 for a holiday, which this year commemorates the 75th anniversary of the People's Republic of China.

Persons: Wendy Liu, Rupal Agarwal, Bernstein, David Tepper, Donald Trump, Tepper, Pan Gongsheng, Xi Jinping, Scott Rubner, Goldman Sachs, Rubner, Goldman, China hasn't, Li Dongfang, Li, financials, — CNBC's Michael Bloom Organizations: CSI, JPMorgan, Tal Education, Huawei, People's Bank of China, CNBC, HK Locations: Shanghai, Shenzhen, China, Tsingtao, U.S, Zhejiang, Asia, Hong Kong, Beijing, Mainland, People's Republic of China

☆ A Gen Xer with a master's degree has been looking for a job for 9 years. He's slowly running out of money.
▼ + stars: | 2024-09-29 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +5 min

Despite having a bachelor's and master's degree in chemistry — and sending out countless applications — Putro said he's had little luck in the job market. Putro shared his job search strategies — and why he's unsure whether his age is helping or hurting him on his job hunt. AdvertisementAfter losing his job, Putro didn't immediately start applying for jobs. Over the past decade, Putro said he's applied "irregularly" for jobs — anywhere between zero and 40 applications in a given month. He said he's not sure whether being 55 years old is helping or hurting him in the job market.

Persons: Chris Putro, hasn't, —, he's, Putro, I've, it's, Putro didn't, Putro hasn't Organizations: Service, La Salle University, UCLA, LinkedIn, CBS, NBCUniversal Locations: Los Angeles

☆ Utilities are the hottest part of the stock market right now, on track for their best year since 2000
▼ + stars: | 2024-09-28 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Utility stocks this year have mounted a rally unseen in more than two decades. In the third quarter, utilities are the best out of 11 sectors that comprise the S & P 500, climbing 18%. As a group, utilities are poised to score their largest quarterly gain since George W. Bush was president in 2003. If that holds through yearend, utilities will see their biggest annual advance since 2000, when they surged more than 50%. "Utilities are the hottest sector in the market currently," Wolfe Research Rob Ginsberg said in a note to clients in August.

Persons: George W, Bush, Wolfe, Rob Ginsberg, hasn't, It's, buildout, Ginsberg, Subramanian, Wells Fargo, Christopher Harvey, Harvey, LSEG Organizations: Utilities, Federal Reserve, Bank of, Nasdaq, Bank of America, Constellation Energy, CenterPoint Energy Locations: yearend, The Texas, Houston

☆ A notorious market bear who called the 2000 and 2008 crashes warns stocks are in their 'third great speculative bubble' in the last 100 years
▼ + stars: | 2024-09-28 | by ( William Edwards | ) www.businessinsider.com time to read: +7 min

AdvertisementJohn Hussman, the president of the Hussman Investment Trust who called the 2000 and 2008 market crashes, isn't shy about his characterization of the current market environment. The first piece of evidence Hussman cites is valuation, specifically the total market cap of non-financial stocks to total value added of those stocks. He predicted in 2000 that the S&P 500 would likely see negative total returns over the following decade, which it did. He predicted in April 2007 that the S&P 500 could lose 40%, then it lost 55% in the subsequent collapse from 2007 to 2009. The S&P 500, by comparison, is up about 32% over the past year.

Persons: John Hussman, —, It's, Mike Wilson, Michael Kantrowitz, Lance Armstrong, Hussman, Armstrong, David Walsh Organizations: Service, Hussman Investment Trust, Tour de France, Hussman, Intelligence, Labor Locations: Irish

☆ Move aside, AI: None of our top 5 stocks in the third quarter are in tech
▼ + stars: | 2024-09-27 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

The best-performing Club stocks during the topsy-turvy third quarter are all outside the "Magnificent Seven" and AI-winner complexes. Starbucks: 25.2% New CEO Brian Niccol is the reason why Starbucks' stock is on the list. Best Buy: 18.6% The electronics retailer is another rate-cut winner: More people moving means more purchases of appliances and TVs. In fact, the reasons to own Best Buy are underappreciated by investors, JPMorgan analysts said in a note to clients Friday. Like Stanley Black & Decker and Best Buy, Home Depot is a beneficiary of increased housing sector activity.

Persons: —, Stanley Black, Decker, Brian Niccol, Eli Lilly, Lilly, there's, Jim Cramer's, Jim Cramer, Jim, Donald Allan , Jr, Chris Taylor Organizations: Reserve, Starbucks, Deutsche Bank, GE Healthcare, Novo Nordisk, Abbott Laboratories, Abbott Labs, GE, JPMorgan, CNBC, The New York Stock Exchange, NYSE Global Locations: U.S, China

☆ The stock market's euphoria-driven record highs are at risk of a painful downturn, 'Black Swan' investor says
▼ + stars: | 2024-09-27 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Spitznagel thinks they should focus instead on lagging drivers that could spur a sharp stock downturn. Advertisement"Black Swan" investor Mark Spitznagel thinks that the stock market's streak of record highs is distracting from a more jarring reality that could come by year-end. In a recent interview with Bloomberg TV, he said investors are currently enjoying a market that's in a "Goldilocks zone." "When the yield curve disinverts and then unverts, the clock starts ticking and that's when you enter black swan territory," Spitznagel told Bloomberg. He has warned of a stock market crash since January 2023, and back in July, he said the market's yearslong rally has become the "greatest bubble in human history," and its bursting would make for a recession.

Persons: Stocks, they've, Mark Spitznagel, Spitznagel, —, That's, capitalizes Organizations: Service, Bloomberg TV, Bloomberg, Universa Investments

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