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☆ Here's the next data point to watch as Wall Street eyes a 'no landing' scenario for the US economy
▼ + stars: | 2024-10-10 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

A big jump in retail spending would be the next data point indicating a "no landing" of the economy. A no-landing scenario occurs when strong economic growth fuels inflation and hinders rate cuts. Bank of America analysts expect September retail sales data, set for release on October 17, to show a 0.8% surge. "Monthly retail sales data can be volatile. If retail sales accelerate considerably, in our view, the narrative may shift further toward 'no landing' or even re-acceleration," they said.

Persons: —, Helene Organizations: Service, Bank of America, Bloomberg, Federal Reserve, Bank, America

☆ Berkshire slashes Bank of America stake to under 10%, no longer required to disclose frequently
▼ + stars: | 2024-10-10 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway has reduced its stake in Bank of America to below 10% amid a selling spree that started in mid-July. The move brings his holdings down to 775 million shares, or a stake of about 9.987%. Since the holding is now under the key 10% threshold, Berkshire is no longer required to report its related transactions in a timely manner. The next 13F filing in mid-November will only reveal Berkshire's equity holdings as of the end of September. Bank of America CEO Brian Moynihan previously said the market is absorbing the stock, aided by the bank's own repurchasing.

Persons: Warren Buffett, Warren Buffett's Berkshire Hathaway, Buffett, Omaha's, Brian Moynihan, Goldman Sachs, Wells, It's, digitalization, fintech Organizations: Berkshire, Bank of America, U.S . Securities, Exchange Commission, SEC, JPMorgan, U.S . Bancorp Locations: Omaha , Nebraska, Bank, Berkshire, Wells Fargo, U.S

☆ Here's what investors need to know after GM's capital markets day
▼ + stars: | 2024-10-09 | by ( Michael Wayland | ) www.cnbc.com time to read: +8 min

GM's investor day showcased many of the company's current achievements, but did not provide much insight on strategy," Bernstein analyst Daniel Roeska wrote Wednesday in an investor note. "GM's Investor Day yesterday didn't provide much in the way of sharp shifts in strategy. Through the first half of 2024, GM earned $8.3 billion in EBIT-adjusted and generated $6.4 billion in adjusted automotive free cash flow. GM's 2024 financial guidance includes anticipated capital spending of between $10.5 billion and $11.5 billion. GM's operations in China have experienced a decade-long slide in earnings, and executives said they are discussing restructuring options with their China-based partners.

Persons: Rebecca Cook, Mary Barra, Mark Reuss, Stellantis, Bernstein, Daniel Roeska, Dan Levy, John Murphy, Levy, Paul Jacobson, Jacobson, GM's, we're, Barra, Ultium, Kurt Kelty, " Jacobson, Reuss, that's, you'll, Tesla's Organizations: General Motors, Reuters DETROIT —, GM, Ford Motor, Ford, Barclays, BofA Securities, Wall Street, EV tailwinds, North America, LG Energy, ICE, GMC, China Locations: Detroit, Spring Hill , Tennessee, North, Cruise, China

☆ The markets saw right through China's latest economic support hype
▼ + stars: | 2024-10-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

China's stock markets slumped after a 10-day rally that was driven by Beijing's stimulus announcement in September. Retail investors dominate China's markets, influencing sentiment and market movements. AdvertisementChina's top leadership has a problem with its economic stimulus: its own investors at home saw right through the hype this week. China's domestic stock markets slumped on Wednesday after a 10-day blitz culminated in a two-year high. China's domestic stock markets are dominated by over 200 million mom-and-pop retail investors, who account for about 70% of the trading volume.

Persons: —, weren't, Jun Rong, that's, Vishnu, Li Qiang, Hele Qiao, Qiao Organizations: Investors, Service, People's Bank of China, Reform Commission, BofA Global Locations: Shanghai, Shenzhen, China, Hong Kong, Beijing, Asia, Japan, Xinhua, Greater China, China's

☆ Mid-cap stocks are a better hedge in the near term than small caps, says BofA's Jill Carey Hall
▼ + stars: | 2024-10-09 | 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 EmailMid-cap stocks are a better hedge in the near term than small caps, says BofA's Jill Carey HallJill Carey Hall, Bank of America Global Research head of U.S. small and mid-cap strategy and senior U.S. equity strategist, joins 'Squawk Box' to discuss the latest market trends, why she likes mid-cap stocks in the near term, the Fed's inflation fight, interest rate outlook, and more.

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

☆ Why the interest-rate cut isn't delivering the relief consumers were hoping for
▼ + stars: | 2024-10-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we got our first interest-rate cut, but it doesn't feel like it for many consumers . We finally got an interest-rate cut, but borrowing costs are still high. First off, last month's interest-rate cut wasn't going to provide immediate relief. Yes, the average 30-year fixed mortgage rate has gone up 47 basis points since the Fed cut rates , writes BI's Matthew Fox. So the Fed cut rates but borrowing costs went up?

Persons: —, Milton, Alyssa Powell, isn't materializing, Jennifer Sor, Let's, BI's Matthew Fox, I'm, It's, BI's James Rodriguez, who's, Warren Faidley, Hurricane Milton, Hindenburg, Chelsea Jia Feng, Vinod Khosla, OpenAI, Mark Zuckerbergs, Gen Zers, haven't, Rebecca Zisser, Elon Musk's, Tesla, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Business, Service, Gas, Hindenburg, Tech, DOJ, Google, Walt Disney World, Hurricane Milton, Federal Reserve, Fed, Treasury, Hurricane, Energy, Futures, Bank of America, Disney Locations: Florida, Warren, Tampa, Chelsea, Robotaxi, Hurricane, New York, London

☆ The bar for earnings is low, and stocks should rise as long companies are feeling upbeat about lower rates, BofA says
▼ + stars: | 2024-10-08 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

As long as companies report that they're feeling good about lower interest rates, stocks should rise. That's according to Bank of America, which notes that apart from that dynamic, the bar for third-quarter earnings set by Wall Street is pretty low. The analysts expect 2% earnings growth, below consensus estimates of 4% and second-quarter earnings growth of 11%. As long as companies have managed through macro headwinds and see early signs of improvement from lower rates, stocks should get rewarded," the analysts said in a Tuesday note. The analysts recommend watching those sectors for early signs of improvement from lower rates ahead of earnings.

Persons: — Organizations: Bank of America, Service, Wall, Federal Reserve, Manufacturing

☆ Brace for stock-market volatility this week if inflation comes in hot after the September jobs report, BofA says
▼ + stars: | 2024-10-07 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

A blockbuster jobs report raises the stakes for upcoming inflation data, BofA analysts say. AdvertisementThe September jobs report was good news, but it gives investors more reason to brace for the next inflation reading, Bank of America analysts say. Economists forecast the CPI report will show inflation continued to cool last month, rising 2.3% year-over-year compared to 2.5% in August. AdvertisementHowever, with the blockbuster September jobs report, some economists say inflation is still a concern. The September jobs report blew past forecasts, with 254,000 nonfarm payrolls added compared to expectations of 150,000.

Persons: —, Brian Rose Organizations: Service, Bank of America, CPI, Fed, UBS

☆ Wall Street is getting tired of Corona brewer Constellation, but Jim Cramer says to hold on
▼ + stars: | 2024-10-07 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

Jim Cramer is planning to stay in the game with Constellation Brands , despite a Wall Street firm moving to the sidelines on the Mexican beer importer. Shares of New York-based Constellation Brands fell 1.5% Monday, off their lows of the session. In the June-to-August period reported Thursday, beer sales rose 6%, compared with increases of 8%, 11% and 11.8% in its three prior quarters. In explaining why we're sticking with Constellation, Jim said Monday he liked what he heard from Constellation Brands CEO Bill Newlands during the executive's appearance Friday on "Mad Money." This uptick coincided with increased marketing spending behind its top beer brands, Newlands said.

Persons: Jim Cramer, Jim, there's, Bill Newlands, Newlands, —, Kim Crawford, Meiomi, Duckhorn, Morgan Stanley, Jim Cramer's, Justin Sullivan Organizations: Constellation Brands, Bank of America, Modelo, Corona, Constellation, CNBC Locations: York, Mexico, Corona, San Anselmo , California

☆ This $9 billion hedge fund just joined the raid on big bank commodity index traders with a senior JPMorgan hire
▼ + stars: | 2024-10-07 | by ( Alex Morrell | ) www.businessinsider.com time to read: +3 min

Alphadyne Asset Management hired JPMorgan's Thomas Byuen as a commodity index portfolio manager. Hedge funds like Balyasny and Jain Global have poached big bank commodity traders in recent years. Byuen, global head of commodity index trading, joined the bank in 2012 out of college, according to his LinkedIn profile and industry records. More recently, Jain Global, the most hyped new hedge fund launch in years, hired BofA's Max Lee, head of commodity and FX systematic strategy trading. Commodities is a top strategy at the fund, which brought in ex-Macquarie exec David Hochberg to lead the unit.

Persons: JPMorgan's Thomas Byuen, —, wasn't, Thomas Byuen, Max Lee, Mike Severo, LMR, Goldman Sachs, Will Scott, Morgan Stanley, Dan Deighton, Balyasny, Deighton's, BofA's Max Lee, David Hochberg Organizations: Asset Management, Jain, Service, Alphadyne, Management, JPMorgan, Verition Fund Management, Balyasny Asset Management, LMR Partners, Commodities, Macquarie Locations: BofA

☆ These are the most important stocks in the U.S., according to Bank of America
▼ + stars: | 2024-10-04 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

There are several key stocks in the U.S. investors need to be mindful of when navigating the current market environment, according to Bank of America. To capture the momentum from this rally, Bank of America screened for the most important stocks in each region of the world — including the U.S. — that have the potential to have the largest impact on portfolio performance, positive or negative. Bank of America found these stocks to be among the most important in the U.S.: Chipmaker Nvidia and oil and gas giant Exxon Mobil ranked fairly high on the firm's steady compounders list within the screen. Meta's shares are up nearly 64% year to date. Other stocks considered the most important names in the U.S. include rideshare company Uber and pharma name Eli Lilly .

Persons: Nigel Tupper, Vivek Arya's, Metaverse, Justin Post, Eli Lilly Organizations: Bank of America, Investment, U.S, Nvidia, Exxon Mobil, Exxon, Meta, Bank of America's, Uber Locations: U.S, Lebanon, Thursday's

☆ The Debate: Goldilocks for Stocks?
▼ + stars: | 2024-10-04 | 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 EmailThe Debate: Goldilocks for Stocks? The Investment Committee debate whether we're in a "Goldilocks" situation for stocks after BofA's Savita Subramanian's outlook this morning on Squawk Box.

☆ The U.S. is enjoying a 'Goldilocks' moment, says BofA's Savita Subramanian
▼ + stars: | 2024-10-04 | 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 EmailThe U.S. is enjoying a 'Goldilocks' moment, says BofA's Savita SubramanianSavita Subramanian, BofA Securities head of U.S. equity and quantitative strategy, joins 'Squawk Box' to discuss the state of the economy, what to expect from today's September jobs report, the Fed's inflation fight, latest market trends, and more.

Persons: BofA's Savita Subramanian Savita Subramanian Organizations: BofA Securities

☆ These brands could be hit the hardest by port strike: BofA's Peter Galbo
▼ + stars: | 2024-10-03 | 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 EmailThese brands could be hit the hardest by port strike: BofA's Peter GalboPeter Galbo, BofA Securities analyst, joins CNBC's 'The Exchange' to discuss the impact of the ongoing strike at East and Gulf Coast ports, how long his firm thinks the strike will last, and more.

Persons: Peter Galbo Peter Galbo Organizations: BofA Securities Locations: East, Gulf Coast

☆ Why China stocks are not suitable for long-term investment
▼ + stars: | 2024-10-02 | 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 EmailWhy China stocks are not suitable for long-term investmentJared Woodard, BofA Securities head of research investment committee and ETF strategy, joins CNBC's 'The Exchange' to discuss the economic impact of China's new stimulus, why he thinks it is risky to trade in the country right now, and more.

Persons: Jared Woodard Organizations: BofA Securities Locations: China

☆ Rates won't fall back to pre-pandemic levels as geopolitical conflict and supply chain issues create problems for world economies, BofA exec says
▼ + stars: | 2024-10-02 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

That's led the market to assume rates will fall to pre-pandemic lows, BofA's Bernard Mensah says. Yet, inflationary risks will likely keep rates elevated, Mensah says. Before the pandemic, in the decade following the Great Financial Crisis, interest rates remained at historical lows. Despite the Fed's apparent confidence that pricing pressures have eased, Mensah says a variety of inflationary risks will keep interest rates higher. Other analysts have also pointed to inflation risks from geopolitical conflicts.

Persons: That's, BofA's Bernard Mensah, Mensah, —, Bank of America's Bernard Mensah, Rowe Price, Tomasz Wieladek Organizations: Fed, Service, Federal Reserve, Bank of America's, Bloomberg Locations: US, China, England, Switzerland, Sweden, Canada, Mexico

☆ Bank of America's top ideas for the fourth quarter including Starbucks and Walmart
▼ + stars: | 2024-10-02 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Analyst Sara Senatore said the recent arrival of CEO Brian Niccol is a potential catalyst for Starbucks stock. She expects the former Chipotle chief to turn around Starbucks' North American business more quickly and with less investment than expected. SBUX YTD mountain Starbucks stock. Walmart stock has advanced more than 54% in 2024. WMT YTD mountain Walmart stock.

Persons: Anthony Cassamassino, Sara Senatore, Brian Niccol, Robert Ohmes, Ohmes Organizations: Bank of America, Dow Jones, Walmart, Bank of America's, Hasbro Locations: Iran, Israel

☆ 5 energy stocks that will get a boost from ballooning electric demand
▼ + stars: | 2024-10-01 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

US electric demand is rising, fueled by everything from data centers to electrified transportation, says BofA. AdvertisementWith resources flooding into infrastructure and tech, US electric demand is charging up. Sempra will rise 13% based on the bank's $94 share target. Northwestern Energy could similarly jump over 13% to reach a $65 price target, Bofa says. TXNM Energy is set to increase 10% from current levels, reaching a price target of $48 per share.

Persons: —, Entergy, Goldman Sachs Organizations: Service, Bank of America, Northwestern Energy, Pinnacle, TXNM Locations: Texas, Montana

☆ Short work stoppage at ports would have muted impact, says BofA's Hutchinson
▼ + stars: | 2024-10-01 | 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 EmailShort work stoppage at ports would have muted impact, says BofA's HutchinsonLorraine Hutchinson, senior retail analyst at Bank of America Securities, joins CNBC's 'The Exchange' to discuss the potential impact of port strikes on retailers ahead of the holidays, outlooks ahead of Nike earnings, and more.

Persons: BofA's Hutchinson Lorraine Hutchinson Organizations: Bank of America Securities, Nike

☆ 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

☆ How Warren Buffett decides when to sell a stock, and why he might be dumping Bank of America
▼ + stars: | 2024-09-29 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

When Warren Buffett, the ultimate buy-and-hold investor, sells a stock, it often sends a negative signal about the underlying business and maybe even the entire industry. "We're more reluctant to sell them than most people," Buffett said of his large positions at Berkshire's annual meeting in 2009. Bank of America sales Many top holdings in Berkshire Hathaway's equity portfolio are decades old — Buffett has held Coca-Cola shares since 1988 and American Express since 1991. Buffett said bank failures in 2008 during the Global Financial Crisis , and again in 2023, lessened confidence in the system, made worse by poor messaging by regulators and politicians. At the time, Buffett foresaw more bank failures down the road , but stuck with his Bank of America investment, partly because he personally negotiated the original deal and admired CEO Brian Moynihan.

Persons: Warren Buffett, Buffett, — Buffett, Goldman Sachs, Wells, BofA, digitalization, fintech, It's, Brian Moynihan Organizations: Herald, Buffalo News, Bank of America, American Express, Oracle, JPMorgan, U.S . Bancorp ., Silicon Valley Bank, First, Signature Bank Locations: Omaha, Berkshire, BofA, Wells Fargo, U.S, U.S . Bancorp . Berkshire, Bank, Silicon, First Republic, saviors

☆ Rate cut cycle could spell opportunities for SMid caps, says BofA's Curtis Nagle
▼ + stars: | 2024-09-27 | 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 EmailRate cut cycle could spell opportunities for SMid caps, says BofA's Curtis NagleCurtis Nagle, senior U.S. SMid cap internet analyst at BofA Securities, joins CNBC's 'The Exchange' to discuss how rate cuts could impact small and mid-caps companies, where to find opportunity, and more.

Persons: BofA's Curtis Nagle Curtis Nagle Organizations: BofA Securities Locations: U.S

☆ Today's market is a 'bubble dream' with rate cuts, China inflating economy, Bank of America says
▼ + stars: | 2024-09-27 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Massive stimulus from central banks in the U.S., China and elsewhere is driving bubble-like stock returns and could head off a global recession, according to Bank of America. "It's the bubble dream," BofA chief investment strategist Michael Hartnett wrote in his weekly "Flow Show" breakdown of where investors are putting their money. "Fed slashing, oil crashing, China inflating ... and if this China stimulus don't work then geopolitical risks [are] going to soar." But while some indicators do point to a slowing in global growth, the abundant forecasts for recession have eased. "Fed cutting into recession is negative for risk assets, but Fed cutting with no recession is positive and investors firmly of view Fed + China is sufficient policy easing to short-circuit recession risk," Hartnett wrote.

Persons: Michael Hartnett, Hartnett Organizations: Bank of America, Federal Reserve, People's Bank of China, Investors Locations: U.S, China

☆ Malaysian Ringgit has outperformed Japanese Yen and gold since July, strategist explains why
▼ + stars: | 2024-09-27 | 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 EmailMalaysian Ringgit has outperformed Japanese Yen and gold since July, strategist explains whyAdarsh Sinha at BofA Securities discusses recent trends of the Malaysian Ringgit and highlights Korean Won's weakness.

Persons: Adarsh Sinha Organizations: Malaysian, BofA Securities

☆ Bank of America sees Apple Intelligence opening up new ways to monetize and attract new install base
▼ + stars: | 2024-09-27 | 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 EmailBank of America sees Apple Intelligence opening up new ways to monetize and attract new install baseWamsi Mohan, BofA Securities senior IT hardware analyst, joins 'Money Movers' to discuss how Mohan is thinking about Apple's new AI, any indication if Apple is pursuing Apple Intelligence monetization, and much more.

Persons: Mohan Organizations: Email Bank of America, Apple Intelligence, BofA Securities, Apple

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