DIRS.INFO The most relevant business & tech news

☆ Premarket stocks: Why investors are looking forward to 2024
▼ + stars: | 2023-11-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

The S&P 500 currently sits around 4,550. BMO’s chief investment strategist Brian Belski has predicted that the S&P 500 will close out 2024 at a healthy 5,100. The S&P 500 has gained about 18.5% so far this year after falling nearly 20% in 2022. Despite elevated borrowing costs, three years of high inflation and increasing numbers of Americans dipping into their retirement plans, consumers continue to keep the US economy chugging. Google accounts include everything from Gmail to Docs to Drive to Photos, meaning all content sitting across an inactive user’s Google suite is at risk of erasure.

Persons: New York CNN — It’s, ”, Candace Browning, Browning, Goldman Sachs, Lori Calvasina, America’s Savita Subramanian, Subramanian, Brian Belski, “, Matt Egan, ” Michelle Meyer, Jennifer Korn, it’s, Google Organizations: New, New York CNN, Bank of America, RBC, BMO Capital Markets, Deutsche Bank, RBC Capital Markets, Bank, America’s, Federal Reserve, Mastercard Economics Institute, CNN, Adobe Analytics, Google Locations: New York

☆ Reddit and Kim Kardashian's SKIMS are among the companies in talks to launch IPOs in 2024, report says
▼ + stars: | 2023-11-28 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

Reddit and Kim Kardashian's shapewear brand, SKIMS, are considering 2024 IPOs, Bloomberg reported. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBoth Reddit and Kim Kardashian's SKIMS are eyeing much-anticipated IPOs in 2024, Bloomberg reported. AdvertisementRepresentatives SKIMS did not immediately respond to requests for comment from Business Insider.

Persons: Reddit, Kim Kardashian's, IPOs, —, Candace Browning, SKIMS, Jens Grede, Kardashian Organizations: Bloomberg, Service, SEC, Bank of America, Bank of America Global Research, Business Locations: Swedish

☆ Investors are the most overweight bonds in 14 years, expecting rates to decline, survey shows
▼ + stars: | 2023-11-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Professional investors are flocking to bonds in a stampede not seen since the end of the financial crisis, according to the latest Bank of America Global Fund Manager Survey. "The big change in the November FMS was not the macro outlook, but rather the conviction in lower inflation, rates, and yields," Bank of America investment strategist Michael Hartnett wrote in a summary of the results. The move was "evidenced by the 3rd largest overweight in bonds in the last two decades (only in Mar'09 and Dec'08 were investors more overweight bonds)." Expectations for a bond reversal dominated the November survey, with a record 61% saying they expect lower yields over the next 12 months. The "investor playbook for 2024 is soft landing, lower rates, weaker US$, large cap tech and pharma bull continues, avoid China and leverage," Hartnett said.

Persons: Michael Hartnett, playbook, Hartnett Organizations: Bank of America Global Fund, Survey, Wall Street, Bank of America, Mar, Federal Reserve, pharma Locations: China

NEW YORK, Nov 9 (Reuters) - Shares of Affirm Holdings (AFRM.O) surged by nearly 25% on Thursday as strong demand for the buy-now-pay-later (BNPL) lender's services and higher interest rates underpinned quarterly results that beat analysts' estimates. Affirm's gross merchandise value (GMV) rose 28% to $5.6 billion, which allowed net revenue to jump 37% to $496.5 million for the quarter ended Sept 30. The company's net loss narrowed to $171.8 million, down nearly 32% from a loss of $251.3 million a year earlier. Analysts had expected gross merchandise value of $5.4 billion, net revenue of $448.5 million, and a net loss of $219.6 million, according to LSEG data. Affirm said it expects GMV to reach between $6.7 billion and $6.9 billion in the current quarter, and net revenue to come in between $495 million and $520 million.

Persons: Max Levchin, John Hecht, Chibuike Oguh, Bill Berkrot Organizations: Holdings, Analysts, Wedbush, Bank of America Global Research, UBS, Jefferies, Amazon.com, Amazon Business, Thomson Locations: New York

Felipe Villarroel, portfolio manager at TwentyFour Asset Management, said he recently swapped some 10-year Treasuries for higher yielding 30-year Treasuries. At these levels, yields give “a massive cushion in your total returns" to protect against bond prices falling further, he said. Yields on the benchmark 10-year U.S. Treasury were over 4.95% in Asia trade on Thursday, their highest level in more than 16 years, and 30-year yields breached 5% this month for the first time since 2007. An auction of 30-year U.S. Treasuries showed weak demand last week, sending yields higher. "The tightness that (bond yields) are imposing on the economy and markets is rising ... this caps the extra work the Fed needs to do," said Smith.

Persons: Jerome Powell, David Rubenstein, Amanda Andrade, Rhoades, Felipe Villarroel, Treasuries, Matt Smith, Ruffer, Buyers, Leslie Falconio, Ruffer's Smith, Smith, Davide Barbuscia, Michelle Price, Ira Iosebashvili, Nick Zieminski Organizations: Federal, Economic, of Washington, Washington , D.C, REUTERS, Treasuries, TwentyFour Asset Management, Bank of America Global Research, Treasury, UBS Global Wealth Management, BlackRock Investment Institute, Thomson Locations: Washington ,, Asia

☆ In a world of competing stock market narratives, only one is holding true
▼ + stars: | 2023-10-18 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

No trend in market direction Try to find evidence that the market supports any of these narratives. The ETF to watch is Vanguard Megacap Growth . By contrast, the other 493 stocks in the S & P 500 are seeing earnings projections lower (Q3) or flat (Q4). Apple Q3: up 7% Q4: up 12% Microsoft Q3: up 13% Q4: up 14% Amazon Q3: up 107% Q4: up 2,091% (!) Nvidia Q3: up 471% Q4: up 316% Meta Q3: up 122% Q4: up 176% Tesla Q3: down 30% Q4: down 28% Source: Factset

Persons: Tomas Lee, There's, Russell, Tesla Organizations: Bank of America Global Fund, Apple, Meta, Microsoft, Nvidia, Tesla

☆ BofA: Investors sell stocks, buy bonds; shun emerging markets
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsLONDON, Oct 13 (Reuters) - Investors sold stocks and bought bonds in the week to Wednesday, Bank of America Global Research said in a note on Friday, while investors continued to shun emerging market assets. Equities had a weekly outflow of $8.2 billion, BofA said, citing EPFR data, while investors favoured the relative safety of bonds, which had inflows of $3.7 billion. Inflows into Treasuries totalled $7.2 billion, the largest weekly inflow since March 2023, BofA said. Investors dumped emerging market debt and stocks in the latest week, with outflows from equities at $4.3 billion, their largest weekly outflow since May 2022, BofA said. The 10-year yield was last at 4.6248%.

Persons: Brendan McDermid, BofA, Michael Hartnett, Hartnett, BofA's, Samuel Indyk, Amanda Cooper, Jane Merriman Organizations: New York Stock Exchange, REUTERS, Bank of America Global Research, Investors, Thomson Locations: New York City, U.S, Treasuries

☆ BofA: Investors sell stocks, buy bonds in latest week; shun emerging markets
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: 1 min

LONDON, Oct 13 (Reuters) - Investors sold stocks and bought bonds in the week to Wednesday, Bank of America Global Research said in a note on Friday, while investors continued to shun emerging market assets. Equities saw a weekly outflow of $8.2 billion, BofA said, citing EPFR data, while investors favoured the relative safety of bonds, which saw inflows of $3.7 billion. Treasuries saw inflows of $7.2 billion, the largest weekly inflow since March 2023, BofA said. Investors dumped emerging market debt and stocks in the latest week, with equities seeing outflows of $4.3 billion, their largest weekly outflow since May 2022. Reporting by Samuel Indyk; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

Persons: BofA, Samuel Indyk, Amanda Cooper Organizations: Bank of America Global Research, Investors, Thomson

☆ Bonds 'in greatest bear market of all time' - BofA
▼ + stars: | 2023-10-06 | by ( Samuel Indyk | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Oct 6 (Reuters) - The rout in the fixed-income market is causing the "greatest bond bear market of all time", Bank of America Global Research said in a note on Friday, as the peak-to-trough loss in the U.S. 30-year yield hit 50%. In its weekly "Flow Show" report, BofA said bond funds saw $2.5 billion in outflows in the week to Wednesday, citing EPFR data. BoFA's report showed that the current loss in 30-year bonds from the peak in the market in July 2020 to now far outpaces that of any previous bear market, making this one what it calls "the greatest of all time" and the "humiliation trade" right now is buying bonds. BofA said its "Bull & Bear indicator", dropped to a five-month low of 2.6 on poor equity breadth, outflows from emerging markets, high yield bonds and developed market stocks. BofA said it prefers to "sell the rips" in the upper half of S&P 500's (.SPX) range of 3,600-4,200 as they are "convinced the bear market has unfinished business".

Persons: Dado Ruvic, BofA, BoFA's, Michael Hartnett, Samuel Indyk, Amanda Cooper, Sharon Singleton Organizations: REUTERS, Bank of America Global Research, Equity, Thomson Locations: U.S, outflows

☆ Soaring Treasury yields ignite turbulence throughout markets
▼ + stars: | 2023-10-05 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

Because the $25-trillion Treasury market is considered the bedrock of the global financial system, soaring yields on U.S. government bonds have had wide-ranging effects. Higher Treasury yields can curb investors' appetite for stocks and other risky assets by tightening financial conditions as they raise the cost of credit for companies and individuals. With some Treasury maturities offering far above 5% to investors holding the bonds to term, rising yields have also dulled the allure of equities. Reuters GraphicsWith Treasury yields surging, credit market spreads have widened as investors demand a higher yield on riskier assets, such as corporate bonds. The MOVE index (.MOVE), a measure of expected volatility in U.S. Treasuries, has surged to a 4-month high, signaling expectations for continued Treasury market ructions.

Persons: Andrew Kelly, That's, Saqib Iqbal Ahmed, Davide Barbuscia, Ira Iosebashvili, Nick Zieminski Organizations: United States Department of, Washington , D.C, REUTERS, Treasury, Federal Reserve, Bank of America Global Research, Reuters, Traders, Reuters Graphics, Silicon Valley Bank, Signature Bank, Thomson Locations: Washington ,, U.S, Silicon

☆ Insurers and drug-industry middlemen are cashing in on the weight-loss drug frenzy
▼ + stars: | 2023-09-28 | by ( ) www.businessinsider.com time to read: +5 min

Insurers and the drug-industry middlemen they own stand to earn more as healthcare spending increases. AdvertisementAdvertisementFor US health insurers, explosive demand for new weight-loss drugs likely means bigger profits. Insurers and the drug-industry middlemen they own stand to earn more as weight-loss drugs drive up healthcare spending, BofA analysts wrote. Meanwhile, if the drugs help people live longer, insurers could earn more from higher enrollment in their health plans. As weight-loss drugs drive up healthcare spending, insurers will make more moneyWeight-loss drugs, which can cost around $1,000 a month, are driving up healthcare spending.

Persons: Li Ran, Brian Evanko, Evernorth Organizations: Trilliant Health, Bank of America Global Research, Getty, Cigna, CVS Health, UnitedHealth Group, CVS, Kaiser Family Foundation Locations: Xinhua, GLP

☆ Investors shed stocks at fastest weekly rate in 2023
▼ + stars: | 2023-09-22 | by ( Lucy Raitano | ) www.reuters.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsLONDON, Sept 22 (Reuters) - Investors sold stocks at the fastest weekly rate this year in the week to Wednesday, Bank of America Global Research said in a report on Friday. Equities recorded a weekly outflow of $16.9 billion, while investors bought $2.5 billion of bonds, which recorded a 26th straight week of inflows, BofA said, citing EPFR data. European equities logged their 28th straight week of outflows, with investors shedding $3.1 billion in this latest week. Energy stocks recorded their largest weekly inflow since March, totalling $600 million, alongside soaring oil prices.

Persons: Brendan McDermid, BofA, Lucy Raitano, Amanda Cooper, Jane Merriman Organizations: New York Stock Exchange, REUTERS, Bank of America Global Research, Federal Reserve, Bank of England, Energy, Investors, Thomson Locations: New York City, U.S

☆ Investors shed stocks at the fastest weekly rate in 2023
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsLONDON, Sept 22 (Reuters) - Investors sold stocks at the fastest weekly rate this year in the week to Wednesday, Bank of America Global Research said in a report on Friday. Equities recorded a weekly outflow of $16.9 billion, while investors bought $2.5 billion, of bonds, which recorded a 26th straight week of inflows, BofA said, citing EPFR data. They also pulled $300 million from gold and $4.3 billion in cash. Year-to-date however, investors have ploughed $1 trillion into cash.

Persons: Brendan McDermid, BofA, Lucy Raitano, Amanda Cooper Organizations: New York Stock Exchange, REUTERS, Bank of America Global Research, Thomson Locations: New York City, U.S

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, CVS, Oracle, Walmart, Meta, Disney and more
▼ + stars: | 2023-09-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest analyst calls: Bank of America reiterates Nvidia as buy The bank is feeling even more bullish on the stock after meeting with Nvidia management at the Bank of America Global AI Conference. Monness Crespi Hardt downgrades Oracle to neutral from buy Monness downgraded Oracle after its earnings report Monday, mainly on valuation. Morgan Stanley reiterates Walmart as overweight Morgan Stanley said its latest survey checks show Walmart+ continues to gain traction with consumers. Bank of America upgrades Cintas to buy from neutral Bank of America said the uniform company is "best in breed." Bank of America reiterates Disney as buy Bank of America is bullish on Disney's carriage agreement with cable company Charter.

Persons: NVDA, Monness Crespi Hardt downgrades, Tesla, Morgan Stanley, Wolfe, Berenberg, TD Cowen, Cowen, Mizuho, Coinbase, Riley, Guess, GES, Bernstein, Goldman Sachs, Exxon Organizations: Bank of America, Nvidia, Bank of America Global AI, Monness Crespi Hardt downgrades Oracle, Oracle, RBC, Tesla, Walmart, CVS, Retail, Endeavor, of America, Citi, BRP Inc, Canadian ATV, BRP, Disney, Barclays, U.S, BMO, Adobe Locations: Coinbase, Canadian

☆ The US dollar is king again. Here’s why
▼ + stars: | 2023-09-08 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

London CNN —The US dollar is enjoying its longest winning streak in nearly nine years. The rally comes after months of volatility, fueled by concerns that the dollar may be losing its status as the world’s reserve currency. “Rumors of the US dollar’s demise continue to be greatly exaggerated,” James Athey, investment director at Abrdn, an asset manager, told CNN. Higher interest rates tend to boost the value of a country’s currency by attracting more foreign capital, as investors anticipate making bigger returns. “The US economy continues to surprise to the upside,” Carsten Brzeski, global head of macroeconomic research at ING, told CNN.

Persons: ” James Athey, ” Athey, ” Carsten Brzeski, ” Brzeski, Russ Mould, AJ Bell, Athanasios Vamvakidis, Sheldon Cooper, “, ” Alex Cohen Organizations: London CNN, CNN, Federal Reserve, ING, US Federal Reserve, European Central Bank, Bank of America Global Research, People’s Bank of Locations: Saudi Arabia, United States, China, Europe, Germany, Russia, People’s Bank of China

☆ Economist discusses outlook for Japanese economy and inflation
▼ + stars: | 2023-08-29 | 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 EmailHopes in Japan that running a 'high pressure economy' will motivate firms to raise wages: EconomistIzumi Devalier, head of Japan economics at Bank of America Global Research, says "the government … has the same goal as the Bank of Japan in the sense that it is keen on capturing this opportunity to reanchor inflation and inflation expectations higher."

Persons: Izumi Devalier, … Organizations: Bank of America Global Research, Bank of Japan Locations: Japan

☆ Investors are jumping back into short-term bond funds as rates rise
▼ + stars: | 2023-08-18 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The recent jump in market interest rates may have caught some ETF investors off guard, and they are now shifting back into short-term bond funds that can better withstand rising yields. Bond yields move in the opposite direction of price, and long-term bonds see their prices hit harder when rates rise. As a result, investors are shifting into short-term bond funds. The following short-term bond ETFs were in the top 10 for net inflows over the past week, according to FactSet. The upward move for bond yields has been particularly acute in the long end of the yield curve.

Persons: Claudio Irigoyen, Fitch, Irigoyen, TLT Organizations: Federal, Treasury, Treasury Bond ETF, Bloomberg, Bank of America Locations: U.S, Japan

☆ Watch CNBC's full interview with BoA's Jill Carey Hall
▼ + stars: | 2023-08-07 | 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 EmailWatch CNBC's full interview with BoA's Jill Carey HallJill Carey Hall, Bank of America Global Research head of small and mid-cap strategy, joins 'Squawk Box' to discuss the latest market trends in light of Friday's jobs numbers, economic outlook for 2023, where to look for opportunities within small caps, and more.

Persons: BoA's Jill Carey, Jill Carey Organizations: Jill Carey Hall , Bank of America Global Research

☆ It'll take some time for Apple to revert back to product growth, says BofA's Wamsi Mohan
▼ + stars: | 2023-08-04 | 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 EmailIt'll take some time for Apple to revert back to product growth, says BofA's Wamsi MohanWamsi Mohan, Bank of America Global Research senior IT hardware analyst, joins 'Squawk Box' to discuss Apple's quarterly earnings results, which beat Wall Street expectations on services growth but declining sales, the rest of year outlook, and more.

Persons: BofA's Wamsi Mohan Wamsi Mohan Organizations: Apple, Bank of America Global Research

☆ Investors' dash to cash may have peaked - BofA
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +1 min

LONDON, July 21 (Reuters) - Investors' rush to the safety of cash, a dominant theme in capital flow data this year, may be peaking, Bank of America global research said on Friday. (.SPX)Tech stocks have seen strong inflows for the past eight weeks, BofA said, and high yield bonds saw their third weekly inflow in the week to Wednesday versus outflows from investment grade bonds. The weekly data, however, showed $7.5 billion of flows into cash, as well $1.4 billion to bonds, $600 million from gold and $2.1 billion from stocks. Bank loans saw inflows of $400 million, the most since May 2022, and Japanese equities saw their seventh week of inflows, its longest streak since January. Reporting by Alun John; Editing by Amanda Cooper and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: BofA, BofA's, Alun John, Amanda Cooper, Kim Coghill Organizations: Bank of America, Silicon Valley Bank, Tech, Bank, Thomson Locations: U.S, United States

☆ CNBC Daily Open: Investment banking sees signs of life
▼ + stars: | 2023-07-19 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Banking on Bank of AmericaInvestors pushed Bank of America shares up 4.42% on the bank's earnings and revenue beat for the second quarter. Profit rose 19% to $7.41 billion while revenue increased 11% to $25.33 billion, helped by a 14% jump in net interest income. But fund managers are still cautious, according to the latest Bank of America Global Fund Manager Survey.

Persons: Ocado, Morgan Morgan Stanley's, James Gorman's, we've Organizations: CNBC, Dow Jones, Microsoft, Revenue, Bank of America Investors, Bank of America, Bank of America Global Fund, Survey

☆ Even the CEO of a top AI startup thinks that AI will 'be the biggest bubble of all time'
▼ + stars: | 2023-07-19 | by ( Gabriel Rivera | ) www.businessinsider.com time to read: +3 min

Stability AI founder Emad Mostaque Courtesy of Stability AIThe CEO of one of the biggest AI startups warned that AI will "be the biggest bubble of all time." Emad Mostaque, the cofounder of Stability AI, compared the hype around the technology to the dot-com bubble, CNBC reported. Stability AI CEO Emad Mostaque told UBS analysts that he thinks AI will "be the biggest bubble of all time," CNBC reported. "I call it the 'dot AI' bubble, and it hasn't even started yet," the cofounder of the generative AI startup said on the call, according to CNBC. And in May, Wharton finance professor Jeremy Siegel was careful not to prognosticate about the future of AI companies.

Persons: Emad Mostaque, hasn't, Mostaque, Sam Altman, James Penny, Michael Hartnett, Dan Ives, Wharton, Jeremy Siegel Organizations: CNBC, Investment, Service, UBS, Investors, Bank of America Global Research, Federal Reserve, Wedbush Securities Locations: Wall, Silicon, Pitchbook, Silicon Valley

☆ Fund managers still cautious despite big stock market rally, BofA survey shows
▼ + stars: | 2023-07-18 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

That fear has led a net 39% of survey respondents to say they are taking less risk than normal, a 2 percentage point increase from June. Interestingly, Hartnett noted that 66% retail investors as gauged by the American Association of Individual Investors surveys are in stocks, the "most bullish since late 2021." Hartnett also noted a "capitulation" move out of commodities, as managers have taken their most underweight position in the sector since May 2020. The July survey captured the sentiment of 262 respondents with $652 billion in assets under management. Sentiment surveys often can be contrarian indicators, so rising pessimism can be a good sign for markets.

Persons: Michael Hartnett, Hartnett Organizations: Bank of America Global Fund, Survey, U.S . Federal, Nasdaq, Big Tech, American Association of, Investors

☆ Wall Street is getting more optimistic the U.S. can avoid a recession
▼ + stars: | 2023-07-18 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Wall Street has gone from more than a year of worrying about a recession to thinking that one actually may not happen. At this point, the outgoing executive said, it doesn't even matter much if the U.S. hits a technical recession. "What matters is if you have a deep recession that changes the unemployment, and that's not happening," he said. Chicago Fed President Austan Goolsbee is among those who think the economy can avoid a recession even with 5 percentage points worth of rate hikes since March 2022. Finally, those expecting a "soft landing" for the economy rose to 68%, against 21% of those who see a hard landing.

Persons: Morgan Stanley, James Gorman, CNBC's Leslie Picker, Goldman Sachs, Goldman, Spencer Hill, Hill, Gorman, Austan Goolsbee, Goolsbee Organizations: Citi, Reserve, Chicago Fed, CNBC, Bank of America Global Fund, Survey Locations: U.S

Search resuls for: "Bank of America Global"

25 mentions found