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☆ 6 Wall Street experts share why investors could be overestimating how much the Fed will cut rates after August's inflation report
▼ + stars: | 2024-09-13 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

The print is causing concern that inflation may not be going away, which would mean higher interest rates than markets expect going forward. Skyler Weinand, chief investment officer, Regan CapitalWeinand says the market's current outlook on rate cuts will only take place if the economy deteriorates significantly. If inflation does slow that much, the Fed would likely cut rates faster than just a quarter percent per meeting over the next 3-6 months," Adams said in an email. "However, the stickiness of service price inflation and shelter inflation suggests the Fed will cut rates slower than financial markets currently price in." This would be a disappointment to short-term bond markets that have priced over 250 bps of rate cuts by the end of 2025."

Persons: Brian Rose, UBS Global Wealth Management Rose, Rose, Skyler Weinand, Regan Capital Weinand, Bill Adams, Adams, Peter Perkins, MRB Partners Perkins, Josh Jamner, ClearBridge Investments Jamner, Chris Zaccarelli, Zaccarelli Organizations: Service, CPI, Business, UBS Global Wealth Management, UBS Global Wealth, Fed, Comerica Bank, MRB Partners, Investment, ClearBridge Investments, Independent, bps

☆ China's plan to boost consumption by encouraging trade-ins has yet to show results
▼ + stars: | 2024-09-13 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

A banner plays up China's trade-in policy at a home goods expo in Qingdao, Shandong province, China, on June 1, 2024. Nurphoto | Nurphoto | Getty ImagesBEIJING — China's plan to boost consumption by encouraging trade-ins has yet to show significant results, several businesses told CNBC. Analysts are not overly optimistic about the extent to which the trade-in program could support retail sales. China's retail sales for August are due Saturday morning. Retail sales in June rose by 2%, the slowest since the Covid-19 pandemic, while July sales growth saw a modest improvement at 2.7%.

Persons: Jens Eskelund, Tao Wang, Sally Loh, Otis, Kone, We've, Ilkka Hara, Hara Organizations: Nurphoto, Getty, BEIJING, CNBC, EU Chamber of Commerce, UBS Investment Bank, China, U.S, Otis Locations: Qingdao, Shandong province, China, Greater China

☆ Growth data will determine the magnitude of the Fed's rate cuts, says UBS' Nadia Lovell
▼ + stars: | 2024-09-13 | 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 EmailGrowth data will determine the magnitude of the Fed's rate cuts, says UBS' Nadia LovellNadia Lovell, UBS Global Wealth Management senior equity strategist, joins 'Squawk Box' to discuss Lovell's forecast for the Federal Reserve, if the Fed can cut rates without scaring anyone, and much more.

Persons: Nadia Lovell Nadia Lovell Organizations: UBS, UBS Global Wealth Management, Federal Reserve

☆ Adobe shares fall 9% on weak fourth-quarter guidance
▼ + stars: | 2024-09-13 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Adobe CEO Shantanu Narayen speaks during an interview with CNBC on the floor at the New York Stock Exchange in New York City, Feb. 20, 2024. Shares of Adobe fell more than 9% on Friday, a day after the software company released third-quarter results that offered worse-than-expected guidance for the fourth quarter. Adobe reported $5.41 billion in revenue for the quarter, up 11% year over year and above the $5.37 billion expected by analysts according to LSEG. Analysts at Bank of America said Adobe reported results and outlook that were somewhat mixed but healthy overall. "No change to our positive view on Adobe," they wrote in a Friday note.

Persons: Shantanu Narayen, LSEG, Goldman Sachs, Adobe's, — CNBC's Michael Bloom, Kif Leswing Organizations: CNBC, New York Stock Exchange, Adobe, Bank of America, Microsoft, UBS Locations: New York City

Celebrities are hitting the black carpet for the 2024 MTV Video Music Awards Wednesday night, with many of the summer's hottest stars making their VMA debuts as performers. Chappell Roan, whose career has seen astronomical growth this year, has become known for her eye-catching, drag-inspired outfits onstage. With only a handful of red carpet appearances on the books so far, the VMAs will be an opportunity for the "Midwest Princess" to share her unique style with the masses. This year’s awards show is being held at the UBS Arena in New York, and will feature performances by Roan, Carpenter, Eminem, Benson Boone and Anitta, among others. Here’s how the stars channeled their personal style into memorable red carpet looks.

Persons: Chappell Roan, Sabrina Carpenter, sartorially, Roan, Carpenter, Eminem, Benson Boone Organizations: VMA, Vogue, UBS Arena Locations: New York, Anitta

☆ UBS CEO affirms commitment to Asia as the region is set for growth
▼ + stars: | 2024-09-12 | 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 EmailPath for future growth will not be as linear, but Asia is 'strategic priority' for us: UBS CEOSergio Ermotti, group CEO of UBS group AG says Asia is not immune to global economic outlook and geopolitical situation, but growth is set to continue for the region.

Persons: Sergio Ermotti Organizations: UBS, AG Locations: Asia

☆ U.S. crude oil rises more than 1% as Francine disrupts production in Gulf of Mexico
▼ + stars: | 2024-09-12 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

U.S. crude oil jumped more than 1% to trade above $68 per barrel on Thursday, after Hurricane Francine churned through the Gulf of Mexico, disrupting oil production before making landfall in Louisiana. Oil futures rose more than 2% in the previous session as the storm threatened supplies. "Hurricane Francine has likely disrupted about 1.5mn barrels of US oil production, which we estimate will reduce September production in the Gulf of Mexico by around 50,000bpd," Giovanni Staunovo, an analyst at UBS, told clients in a Thursday note. Staunovo said the recent slump may be due to traders losing confidence in OPEC's ability to maintain compliance with production cuts at lower price levels. UBS expects oil prices will continue to rise, at least the short term.

Persons: Hurricane Francine, Francine, Giovanni Staunovo, Staunovo, Brent Organizations: UBS, bbl Locations: Gulf of Mexico, Louisiana, Gulf, Mexico, 50,000bpd

☆ Investors expecting an aggressive Fed cut are getting too 'ahead of the curve,' UBS CEO says
▼ + stars: | 2024-09-12 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

The CEO of Swiss banking giant UBS said Thursday that the fight against inflation isn't over yet, and some investors seem to be getting too ahead of themselves in expecting that the U.S. Federal Reserve could pull an aggressive rate cut this month. "I think the market seems to be a little bit too ahead of the curve in expecting the Fed to go so aggressively," Sergio Ermotti, Group CEO of UBS Group AG, told CNBC's "Squawk Box Asia." The question of whether the Fed will lower rates at the end of its next policy meeting September 18 has largely been answered. The only question that remains is: by how much. The "most important" issue that the Fed needs consider is still inflation, which remains sticky and not yet "totally under control," Ermotti added.

Persons: Sergio Ermotti, CNBC's, Ermotti Organizations: UBS, U.S . Federal, UBS Group AG, Fed Locations: U.S

☆ Stocks making the biggest moves premarket: Moderna, Alaska Air, Oxford Industries and more
▼ + stars: | 2024-09-12 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Check out the companies making headlines before the bell: Alaska Air Group — Shares gained 5% after Alaska Air Group raised its third-quarter outlook, citing strong summer demand. The airline guided for per-share earnings in the range of $2.15 and $2.25, greater than prior guidance of $1.40 to $1.60 earnings per share. Moderna — Shares shed more than 6% after the drugmaker announced plans to slash expenses by $1.1 billion by 2027. Oxford Industries — Shares dropped 10% after the clothing company behind Tommy Bahama posted second-quarter figures that missed expectations. Oxford Industries posted adjusted earnings of $2.77 per share, lower than the FactSet consensus estimate of $3 earnings per share.

Persons: Moderna, Tommy Bahama, Kroger —, —, Alex Harring, Hakyung Kim, Jesse Pound, Samantha Subin Organizations: Alaska Air Group —, Alaska Air Group, Oxford Industries, Interpublic, Companies, UBS, U.S, Bancorp, U.S . Bancorp, Kroger, Diageo, Bank of America Locations: U.S

☆ Stocks making the biggest moves midday: Kroger, Petco, Moderna, Roku and more
▼ + stars: | 2024-09-12 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

That builds on Wednesday's post-earnings rally of nearly 33%, which marked the stock's best day on record. Moderna — The stock plummeted nearly 16% after the drugmaker said it will cut $1.1 billion in expenses by 2027. Interpublic Group of Companies — The advertising stock was trading 2% lower following a downgrade from UBS to sell from neutral. U.S. Bancorp — The bank stock slipped nearly 2% despite announcing a dividend hike and a $5 billion share buyback plan. Oracle – Shares of the software company rose nearly 2% after Bernstein named it a top investment idea .

Persons: Kroger –, Kroger, Moderna, Adam Berlin, Bernstein, Yun Li, Michelle Fox, Sean Conlon, Samantha Subin, Lisa Kailai Han, Sarah Min Organizations: Kroger, Moderna, Gilead Sciences, Alaska Air Group, Interpublic, Companies, UBS, Amazon, Pfizer, Bancorp, Diageo, Bank of America, Wolfe Research, Oracle – Locations: Gilead, Alaska, U.S

☆ Here are Thursday's biggest analyst calls: Apple, Nvidia, Roku, Meta, Oracle, Broadcom, Micron & more
▼ + stars: | 2024-09-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +4 min

Wells Fargo initiates Blackrock as overweight Wells Fargo said the asset manager is well positioned. " Bernstein reiterates Nvidia & Broadcom as top ideas Bernstein said both stocks remain top picks at the firm and that margin fears are overdone. Bernstein reiterates Oracle as a top idea Bernstein said it sees "increasing revenue growth" for Oracle. " Morgan Stanley reiterates Amazon, Alphabet and Meta as overweight Morgan Stanley said the three internet giant's are well positioned in the ad market. Morgan Stanley reiterates Apple as overweight Morgan Stanley named Apple to its Vintage Values list as a stock to own for the next 12 months.

Persons: Wells, Wells Fargo, Stephens, Bernstein, Blackwell, Morgan Stanley, Goldman Sachs, Goldman, Jefferies, McDonald's, it's, Wolfe, Apple, Raymond James Organizations: Simon Property Group, SPG, Blackstone, Apollo, TPG, SF, APO, Blackrock, Nvidia, Broadcom, Oracle, Bank of America, Diageo, of America, Barclays, TAM, CTV, FedEx, UBS, Costco, " Bank of America, Apple, Micron

☆ UBS CEO says that markets could manage a soft landing, but fight against inflation is not over
▼ + stars: | 2024-09-12 | 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 EmailUBS CEO says that markets could manage a soft landing, but fight against inflation is not overSergio Ermotti, group CEO of UBS Group AG, said that the markets seem to be too ahead of the curve to expect the Fed to cut so aggressively.

Persons: Sergio Ermotti Organizations: UBS, UBS Group AG

☆ Sabrina Carpenter honors Madonna in vintage Oscars gown at VMAs red carpet
▼ + stars: | 2024-09-12 | by ( Oscar Holland | ) edition.cnn.com time to read: +4 min

CNN —Madonna was everywhere at this year’s MTV Video Music Awards in New York — and she wasn’t even there. But it was Artist of the Year nominee Sabrina Carpenter who went the extra mile by tracking down a vintage gown from the Queen of Pop’s style archive. Featuring a deep-V neckline and embellished with sequins, pearls and crystals, the white satin gown was designed — and later customized for Madonna — by celebrated fashion designer Bob Mackie. “Maria Schiavo, a well-known fashion stylist, borrowed my sample of this dress for a Madonna cover shoot for Vanity Fair,” Mackie recalled. Nobody else should be seen in that dress.”)Carpenter’s stylist, Jared Ellner, said on Instagram that he acquired the Madonna gown through LA vintage clothing studio, Tab Vintage.

Persons: CNN —, Addison Rae, Anitta, Sabrina Carpenter, —, Bob Mackie, Michael Jackson, ”, Dick Tracy, Madonna, Marilyn Monroe, Ron Galella, Steven Meisel, Mackie, “ Maria Schiavo, ” Mackie, Pop, Fran Drescher, Monroe, Diana Ross, Cher, Anya Taylor, Joy, Katy Perry, Zendaya, Miley Cyrus, Kim Kardashian, Jared Ellner, De, Tab Vintage’s, Alexis Novak, Carpenter, “, Evan Agostini, Britney Spears, Spears Organizations: CNN, MTV, De Beers, Vogue, UBS Arena, Billboard, VMA Locations: New York, Monroe, Elmont , New York

☆ Taylor Swift's outfit change at the VMAs includes a sneaky reference to her song 'Down Bad.' Fans think it could be her next single.
▼ + stars: | 2024-09-12 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +3 min

But one of Swift's subtler decisions on Wednesday may give us a hint as to her next career move. After walking the red carpet in a yellow-and-black plaid Dior outfit, Swift changed into an asymmetric mini dress while inside the show at UBS Arena. AdvertisementSwifties were quick to point out a parallel with the production design for "Down Bad" on the Eras Tour. During Swift's performance of the song, the screen projects a UFO with a beaming spotlight that follows her around onstage. "Down Bad," cowritten by Swift and Jack Antonoff, was released as the fourth track on her latest album, "The Tortured Poets Department."

Persons: —, Taylor Swift, Travis Kelce, Dior, Swift, Swifties, Carlos Alvarez, Jack Antonoff, Post Malone Organizations: Service, MTV, Business, UBS Arena, Getty, Rights, Poets Department, Post, Electric Lady Studios, Entertainment Locations: Amsterdam

The bank raised its price target on MercadoLibre Thursday to $2,500 from $2,225, suggesting 22% upside from Wednesday's close. The bank increased its price target to $230 from $200, implying nearly 16% upside from Wednesday's close. Supino also lifted the firm's price target to $93 a share, reflecting about 33% upside from Wednesday's close. Analyst Adam Berlin lowered his 12-month price target to $29 from $34, implying 6% downside. The investment firm's price target of $159 implies more than 2% downside from Wednesday's close.

Persons: Robert Ford Aguilar, — Michelle Fox, Wells, Wells Fargo, Eric Luebchow, Luebchow, Lisa Kailai Han, Sean Conlon, Wolfe, Peter Supino, Supino, Samantha Subin, BofA, George Staphos, a.m, Adam Berlin, Berlin, IPG, — Sean Conlon, Bernstein, Mark Moerdler, — Lisa Kailai Han, Stifel, Simon Yarmak, Andrea Pistacchi, Brandt Montour, it's, Montour, Fred Imbert Organizations: CNBC, Barclays, Bank of America, Diageo, Mercado, Mobile, Sprint, Wolfe Research, UBS downgrades, UBS, billings, GM, Pfizer, Oracle, Simon Property, Property Group, SPG, U.S, New York Stock Exchange Locations: Brazil, Mercado Pago, Wells Fargo, Wells, Roku, Berlin, America, U.S

MTV’s Video Music Awards are back to celebrate the best music videos of the year, and, if you can believe it, the network has now been at it for 40 years. After all, it was the 1984 MTV VMAs when Madonna wore her iconic wedding dress and performed “Like a Virgin” to open the show. And who could forget when Ye, then known as Kanye West, stole the microphone from Taylor Swift in 2009? But the big question of the evening will be whether Taylor Swift and Beyoncé are in attendance. If Swift wins three of her awards, she could overtake Beyoncé for the distinction of having won the most MTV VMAs ever.

Persons: Madonna, Ye, West, Taylor Swift, Beyoncé, Megan Thee Stallion, Chappell Roan, Sabrina Carpenter, Camila Cabello, Eminem, Lenny Kravitz, Katy Perry, MTV’s, Lil Nas X, Miranda Lambert, DJ Khaled, Swift, Travis Kelce, MTV VMAs, she'll, Swift’s, ” Kendrick Lamar’s, Teddy, Jack Harlow’s “, Shaboozey, Gracie Abrams, Roan, Carpenter, Abrams, Morgan Wallen Organizations: MTV, UBS Arena, LL, U.S ., VMA Locations: Long, New York, Brooklyn

☆ Trading the election: Watch these pro-Harris stocks as her odds rise following the debate
▼ + stars: | 2024-09-11 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Investors and Wall Street analysts may want to take a closer look at stocks that could be winners under a President Kamala Harris after Tuesday night's debate . National polls showed a tight race heading into the debate, but some now believe Harris could get a bump from her performance. "We expect a near-term bounce towards Vice President Harris following the first debate with former President Trump, but the longer-term impact remains unclear," Raymond James Washington analyst Ed Mills said in a note to clients late Tuesday night. Wolfe Research has a similar list of stocks in an anti-Trump trade basket, including health care stocks like Centene and HCA . Of course, it could be difficult for new Democratic policies to become law even with a Harris win in November, depending on how Congressional races shake out.

Persons: Kamala Harris, Donald Trump, Harris, Trump, Raymond James Washington, Ed Mills, Isaac Boltansky, Daniel Clifton, Strategas, Wolfe, — CNBC's Michael Bloom Organizations: Wall Street, Democrat, Walmart, Raytheon Technologies, Wolfe Research, Trump, UBS, Republicans, Democrats, Eaton Corp, Waste Management Locations: Democratic, Ukraine, Russia

☆ These are the top tech picks of UBS for rest of year, including an Nvidia alternative
▼ + stars: | 2024-09-11 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Some tech stocks are due for outperformance heading into year's end, according to UBS. Nvidia dragged other chip stocks down with it, with the VanEck Semiconductor ETF (SMH) suffering its worst day since March 2020. Wall Street is also bullish on the chipmaker, with 41 of the 50 analysts covering the name issuing a strong buy or buy rating, according to LSEG. In the IT hardware and electronics manufacturing services sector, UBS named Dell Technologies , given a PC refresh cycle and developing strength in AI optimized servers. UBS has a buy rating on the stock, and its target implies more than 48% upside from Tuesday's close.

Persons: chipmaker, Timothy Arcuri, Palantir, monetization Organizations: UBS, Nvidia, VanEck Semiconductor, Devices, AMD, Dell Technologies, DELL, P Global, Dell, Spotify

☆ Neither Trump nor Harris really gave us much detail about how they will fix the economy in the debate
▼ + stars: | 2024-09-11 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +5 min

Though the debate opened with a discussion about the economy, the conversation quickly devolved into platitudes, boasts, and personal jabs. Industry leaders told Business Insider that they hoped to hear the candidates discuss crypto guidelines, regulation, and key appointments on Tuesday night, but little was said about any of those topics. "What we really need is either a debate or a whole section of a debate devoted to economic issues," Tedeschi said. Tedeschi told Business Insider that we need clarity about Trump's proposed tariffs, which are the "most consequential and radical thing that he's proposed." Chris Larsen, the billionaire co-founder of blockchain payments company Ripple, told Business Insider that Harris was "spectacular."

Persons: —, Kamala Harris, Donald Trump sparred, Ernie Tedeschi, Tedeschi, Harris, Trump, Paul Donovan, Mark Penn, Clinton, Aaron Levie, Chris Larsen, Crypto, there's, Larsen, Bradley Tusk Organizations: Service, Industry, Business, Yale Budget Lab, UBS Global Wealth Management, New York Times, Federal, Federal Trade Commission, Others, Trump, Democratic, Tusk Venture Partners Locations: platitudes

☆ Best red carpet looks from the MTV VMAs
▼ + stars: | 2024-09-11 | by ( Oscar Holland | ) edition.cnn.com time to read: +3 min

See below for some of the red carpet’s best looks so far. Jamie McCarthy/WireImage/Getty ImagesAward host Megan Thee Stallion’s eye-catching gown featured a corseted bodice and flared out above and below the knee. Noam Galai/Getty ImagesLil Nas X’s bold pink outfit left social media users wondering whether he was channeling his inner Power Ranger. Noam Galai/Getty ImagesTaylor Swift. Jamie McCarthy/WireImage/Getty ImagesLenny Kravitz, who was awarded the Best Rock VMA on the red carpet, arrived in a shirtless all-black leather look, complete with matching necktie.

Persons: Donald Trump, Kamala Harris, Gaga’s, Madonna, Megan Thee Stallion, Billie Eilish, BlackPink’s Lisa, Tyla, Andrew Kelly, Katy Perry, Michael Jackson, Valerie Terranova, Scrappy, Jamie McCarthy, Megan Thee, Matt Baron, BEI, GloRilla, Noam Galai, Nas, Taylor Swift, Angela Weiss, Shawn Mendes, Suki Waterhouse, Margaret Qualley, Jack Antonoff, Reuters Halle Bailey, Kevin Mazur, Addison Rae, Anthony Harvey, Shutterstock Doechii, Sean, Camila Cabello, Paris, Nicky Rothschild, Evan Agostini, Halsey, Versace, Elizabeth Hurley, Reuters Anitta, Reuters Quavo, Gilbert Flores, Sabrina Carpenter, Bob Mackie, Shutterstock Chappell Roan, Lenny Kravitz, Walker, Dimitrios Kambouris, Lisa, Blackpink, Shutterstock Damiano David of Måneskin Organizations: CNN, UBS Arena, MTV’s, Getty, Reuters, Paris Hilton, Best, VMA Locations: New York

☆ UBS trader turns bearish for next two months, worried about a 'large unwind'
▼ + stars: | 2024-09-10 | by ( John Melloy | ) www.cnbc.com time to read: +2 min

"I am tactically bearish for the next 2 months," wrote Rebecca Cheong, head of Americas equity derivatives strategy for UBS, in a note. The S & P 500 rapidly rebounded, though, making back most of the losses and approaching a new high once again. .SPX YTD mountain S & P 500, YTD And September has gotten off to a sour start with the S & P 500 down four of the first five trading days. Other reasons that make the trader bearish: UBS clients have sold stocks 11 of the last 12 days. Cheong suggested hedges that would pay off if the S & P 500 is down 10% in one month and 15% in two months.

Persons: Rebecca Cheong, Cheong Organizations: UBS, Nvidia, Global, Tech, Federal, U.S

☆ Apple relies on carriers to drive iPhone sales. What to expect this upgrade cycle
▼ + stars: | 2024-09-10 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Among the offers at AT & T for new and existing customers: a free iPhone 16 or up to $830 off the iPhone 16 Plus if they meet a few eligibility requirements. Apple's list price for the Phone 16 and iPhone 16 Plus start at $799 and $899, respectively. Now consider that despite inflation, Apple left the prices of iPhone 16 models the same as the prior generation while adding AI capabilities and improved battery life, among others. "All of these things will be incremental, just enough to eventually convince millions" to upgrade their devices, Jim said. Apple CEO Tim Cook delivers remarks before the start of an Apple event at Apple headquarters on September 09, 2024 in Cupertino, California.

Persons: –, Max, Jim Cramer, Tim Cook, Cook, Bernstein, John Stankey, Stankey, aren't, Jim, Jeff Marks, Jim Cramer's, Justin Sullivan Organizations: Verizon, Mobile, Apple, Consumer Intelligence Research Partners, UBS, CNBC, Club, Markets, Apple Intelligence, Barclays Locations: U.S, China, Europe, Cupertino , California

☆ Top banking analyst Mayo says Citi shares can double over the next 2-and-a-half years
▼ + stars: | 2024-09-10 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

Wells Fargo bank analyst Mike Mayo highlighted Citigroup stock as his favorite bank name on Tuesday while speaking on CNBC's " Squawk on the Street ." Shares of Citigroup could double over the next two-and-a-half years "simply by going back to tangible book value," Mayo said. Citigroup sold for 73% of tangible book at the end of June, up from 60% at the end of last December, according to FactSet data. "Even after running this model, banks still have plenty of excess capital to support the economy," Mayo noted. "Recession or no recession; higher rates or lower rates … whatever hits you, I think banks are able to weather it quite well now."

Persons: Mike Mayo, Mayo, Jane Fraser Organizations: Citigroup, Federal Reserve, UBS, Lehman Brothers, Credit Suisse, Prudential, Deutsche Bank, Federal Locations: Wells Fargo, . U.S

☆ Here are Tuesday's biggest analyst calls: Apple, Costco, Nvidia, Palantir, Broadcom, Tesla, Amazon, Meta & more
▼ + stars: | 2024-09-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

"We launch coverage of GE Aerospace with an Outperform rating, target price $201." (ELF) with a Buy rating and a 12-month price target of $175 per share." "We initiate with a Buy rating on Harmony , a commercial stage biotech focused on CNS [central nervous system] disorders." "We are initiating coverage of ProKidney Corp. (PROK) with a BUY rating and $6 price target." We are initiating coverage with a BUY rating and $600 price target."

Persons: Morgan Stanley, Apple, Tesla, it's, Bernstein, Riley, Wolfe, Stryker, BUD, JMP, Redburn, BTIG, Palantir, Goldman Sachs, Nutrien, Goldman, Cantor Fitzgerald, Cantor, Melius, Johnson, Guggenheim, it's bullish, D.A, Davidson, Meta Organizations: Apple, Apple Intelligence, Intelligence, Deutsche Bank, Deutsche, GE Aerospace, GE, Inc, Anheuser, Busch InBev, Oracle, Costco, Equity, Haemonetics, Plasma Solutions, Blood Center, Hospital Care Solutions, " Bank of America, Bank of America, UBS, Amazon, Harmony Biosciences, NTR, Nvidia, Broadcom, Johnson, Johnson Controls, ProKidney Corp

☆ UBS Global Wealth Management: S&P 500 at 5,900 by year-end is pretty realistic
▼ + stars: | 2024-09-10 | 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 EmailUBS Global Wealth Management: S&P 500 at 5,900 by year-end is pretty realisticBrenda O'Connor Juanas of UBS Global Wealth Management says earnings growth and Fed rate cut will drive the market higher.

Persons: Brenda O'Connor Organizations: UBS Global Wealth Management

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