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Bank of America is primed to get a boost from multiple tailwinds, according to Citi. BAC YTD mountain BAC YTD chart Horowitz noted pointed to an attractive valuation for Bank of America relative to peers such as JPMorgan Chase. Less regulation under a new Trump administration could also bolster Bank of America shares. "On regulation, BAC is a low-risk firm and could benefit from lighter regulatory environment, and we expect room to run with a proposal re-write on B3 potentially driving returns above our 15% normalized assumption," the analyst added. Of the 24 who cover Bank of America, 17 have a buy or strong buy rating, LSEG data shows.
Persons: Keith Horowitz, Horowitz, JPMorgan Chase, CoE, Trump Organizations: of America, Citi, Bank of America, JPMorgan Locations: Thursday's
Jefferies reiterates Nvidia and Marvell as buy The firm says the two chipmakers still have the most upside. Citi upgrades Bank of America to buy from neutral Citi says the bank could be a beneficiary of lighter regulation. Bank of America downgrades Rivian to neutral from buy Bank of America said it sees regulatory risk under a Trump administration. Bank of America upgrades Teledyne Technologies to buy from neutral The firm says it sees upside ahead for the industrial conglomerate. Goldman Sachs upgrades Wingstop to buy from neutral The firm says the wings restaurant has "best-in-class" growth.
Persons: William Blair, Warby Parker, Bernstein, Apple, Lowe's, Jefferies, Goldman Sachs, Sweetgreen, Goldman, outperformance, it's bullish, BNTX, Oppenheimer, Piper Sandler, Wells, Airbnb, Gross, Trump, TDY Organizations: Apple, Apple Intelligence, Nvidia, Marvell, Enterprise, JPMorgan, China EV, Catalyst, Holdings, Barclays downgrades, Body, Citi, U.S, Deutsche Bank, UBS, Molson Coors, OW, Bank of America, Trump Administration, " Bank of America, Teledyne Technologies Locations: AVGO, 4Q24, DPZ, UW
Markets just had their best week all year
  + stars: | 2024-11-08 | by ( John Towfighi | ) edition.cnn.com   time to read: +4 min
New York CNN —US stocks closed at record highs on Friday, notching their best week all year after Donald Trump’s victory in the US presidential election. Both the S&P and the Dow had their best week in a year. Investors are responding to how Trump’s victory might transform the business landscape in the US. Markets had a milestone week as investors adjusted to Trump’s victory and started to evaluate the policies touted by his campaign, such as his proposal to lower the corporate tax rate. Markets move based on investor sentiment, and the historic gains this week are not certain to last.
Persons: Donald Trump’s, Dow, , Michael Block, Trump, Keith Lerner, Lerner, ” Lerner, Elon Musk’s Tesla, Bitcoin, Hogan, Organizations: New, New York CNN, Nasdaq, US, Treasury, Markets, Dow, Advisory, Federal Reserve, Trump, Trump Media & Technology, GEO, America PAC, JPMorgan, Riley Wealth Management Locations: New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRising bond yields is due to fear around the deficit, says JPMorgan's Priya MisraPriya Misra, JPMorgan Asset Management fixed income portfolio manager, joins 'Squawk Box' to discuss the Fed's rate cut decision this week, bond market volatility, state of the economy, and more.
Persons: JPMorgan's Priya Misra Priya Misra Organizations: JPMorgan, Management
Trade Tracker: Kevin Simpson buys JPMorgan
  + stars: | 2024-11-08 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrade Tracker: Kevin Simpson buys JPMorganKevin Simpson, Capital Wealth Planning founder and CIO, joins CNBC's 'Halftime Report' to discuss his latest banking trade.
Persons: Kevin Simpson, JPMorgan Kevin Simpson Organizations: JPMorgan, Wealth Planning
The S&P 500 and Nasdaq rose Thursday, extending Wall Street’s rally in the wake of President-elect Donald Trump’s victory, as traders weighed the latest rate cut from the Federal Reserve. The S&P 500 gained 0.74% to close at a record high of 5,973.10. The S&P 500 jumped 2.53% for its best post-election day in history. Those big swings were the backdrop for the Federal Reserve’s interest rate cut Thursday afternoon. “The balance of risks gives the Fed ample room to lower the Fed Funds rate well into 2025.
Persons: Donald Trump’s, Trump’s, Jerome Powell, , Jamie Cox, Trump, Tony Roth, we’ve, ” Roth, JPMorgan Chase Organizations: Nasdaq, Federal Reserve, Dow Jones, Dow, Treasury, Harris Financial, Wilmington Trust, , Big Tech, Apple, Nvidia, JPMorgan, American Express Locations: Wilmington
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLabor market is key focus of Fed rate cut, says Morgan Stanley's Jim CaronDavid Kelly, JPMorgan Asset Management chief global strategist; Jim Caron, Morgan Stanley Investment Management CIO of cross asset solutions; and Stephanie Roth, Wolfe Research chief economist join CNBC's 'Power Lunch' to discuss reactions to the Federal Reserve's decision to cut interest rates by a quarter point.
Persons: Morgan Stanley's Jim Caron David Kelly, Jim Caron, Morgan, Stephanie Roth, Wolfe, CNBC's Organizations: Labor, JPMorgan Asset Management, Morgan Stanley Investment, Wolfe Research, Federal
AdvertisementDonald Trump's presidential victory and his promise of light regulation could help relieve one of Citi's biggest problems. Wells Fargo analyst Mike Mayo called Trump's win a "regulatory game changer" in a research note. For instance, the OCC has required Citi to submit plans each quarter to ensure they are allocating enough resources to the Transformation effort. AdvertisementSince the July fines, Citi has faced mounting pressure. A few weeks later, Fraser was dogged by questions in an earnings call about the bank's regulatory fate.
Persons: hasn't, Donald Trump's, bode, Jane Fraser, , Wells, Mike Mayo, Trump, Michael Hsu, Jerome Powell, Stephen Biggar, Sen, Elizabeth Warren, Fraser, Vivek Juneja Organizations: Citi, Service, Wednesday, Federal Reserve, Currency, Trump's, OCC, Economic, of New, Republican, Argus Research Locations: of New York
The JPMorgan Asset Management's U.S. fund, already the largest active ETF in the world, returned 21.5% in 2021, including 8.15% as income. In 2022, when the S & P 500 index nearly fell into a bear market, the fund lost just 3.5% in value. Over the past couple of years, the fund has returned 7% to 9% in income on top of capital appreciation. Spence stressed that JPMorgan did not intentionally time its entry into Europe on one of the most volatile weeks of the year for global markets. One such fund is Global X's covered call ETF XYLD , which marginally outperformed JPMorgan's JEPI over the past two years.
Persons: Donald Trump's, JEPI, Hamilton Reiner, Travis Spence, Spence, Reiner Organizations: JPMorgan, JPMorgan Asset Management's, CNBC, London Stock Exchange, Deutsche Borse, Six Swiss, Asset Management, U.S, Presidential, Global Locations: Europe, Germany, U.S, London, Netherlands, Italy, Switzerland
Analyst David George downgraded the stock to underperform from neutral. He believes that JPMorgan is over-earning on both net interest income and credit and finds the stock expensive at current trading levels. "We know we are fighting the tape here, but believe it makes sense to sell the stock." JPM YTD mountain JPM, year-to-date George also noted that, even with a potentially more friendly regulatory environment under a second Trump administration, JPMorgan Chase may not grow its buyback program from here. LSEG data shows 15 of the 24 analysts covering the stock have a buy or strong buy rating.
Persons: Baird, David George, George, Trump, JPMorgan Chase, buybacks Organizations: JPMorgan Chase, JPMorgan
US stocks had one of their best days in years and hit new records after Trump's resounding win over Kamala Harris in Tuesday's election. Both of those moves make sense, said David Kelly, the global strategy chief at JPMorgan Asset Management, in an interview on Wednesday. AdvertisementThe strategy chief has been adamant that higher tariffs — one of Trump's key proposals — would cripple the US economy and endanger the global economic expansion. Related storiesMost economists condemn tariffs, which are taxes on imports, because they tend to lead to higher prices and lower economic growth. Sean Gallagher, the global head of Lazard's small-cap equity platform, made a similar point in a recent interview with Business Insider when asked about Trump's tariffs and Kelly's stance.
Persons: Stocks, Donald Trump, David Kelly, Wall, he's, , Donald Trump's, Trump's, Kamala Harris, Kelly, Trump, Mahatma Gandhi, I'm, I've, Tom Orlik, who's, Chris Murphy, Susquehanna's, Orlik, Sean Gallagher, Gallagher, maven, He's, inflation's Organizations: House . Market, Service, Nasdaq, US, JPMorgan Asset Management, Republican, JPMAM, Bloomberg Economics, Business, Trump Locations: Tuesday's
He has also generally backed nuclear power, though he expressed some skepticism in his October interview with Joe Rogan. The clearest winner: Gas Stocks exposed to natural gas emerge as some of the clearest winners, according to post-election notes by JPMorgan and Jefferies. But the company has significant gas generation assets and would be poised to benefit under the fossil-fuel friendly Trump administration, according to JPMorgan. GE Vernova is one of the clearest winners, according to Jefferies analysts. Cheniere also stands to benefit through potentially easier liquid natural gas production under Trump, Jefferies found.
Persons: Donald Trump, Trump, Joe Rogan, Kevin Kwan, Cheniere, Jefferies, Sunrun, Enphase, SolarEdge, Julien Dumoulin, Smith, Goldman, Biden, it's Organizations: Green New, Gas, JPMorgan, Jefferies, Vistra Corp, Trump, GE Vernova, GE, Senate, GOP, NOVA, NextEra Energy, U.S, Nuclear Locations: U.S, Ukraine
Bank of America downgrades Solaredge to underperform from neutral Bank of America says Solaredge is at risk of tariffs in a Trump administration. Barclays downgrades Coty to underweight from equal weight Barclays downgraded the beauty stock following earnings and says it sees "strategy creep." Baird upgrades McKesson to outperform from neutral Baird upgraded the healthcare and medical supply company following earnings. JPMorgan upgrades Clearwater to overweight from neutral JPMorgan upgraded the software company following earnings. " Seaport downgrades Duolingo to neutral from buy The firm downgraded the language App company mainly on valuation following earnings.
Persons: Solaredge, Jefferies downgrades Palantir, Jefferies, PLTR, Bernstein, Ford, Morgan Stanley, Wolfe, it's, Trump, Coty, Schneider, Schneider National's, Apple, it's bullish, Max, Baird, MCK, JPM, CWAN, Guggenheim, Sunrun, Raymond James, Tesla Organizations: Barclays, Qualcomm, Bank of America, of America, Intelligence, Allstate, Nvidia, AMD, Coty, underperform Bank of America, Citi, Apple, Deutsche Bank, Disney, HC, JPMorgan, UBS, Vulcan, Guggenheim, Technologies, USM Locations: Trump, 1Q23, China, F4Q
The year-end stock rally has begun, Goldman Sachs says
  + stars: | 2024-11-07 | by ( Fred Imbert | ) www.cnbc.com   time to read: +2 min
Wednesday's massive rally may be just the start of a huge year-end rally. Goldman Sachs tactical specialist Scott Rubner thinks those gains won't stop anytime soon. "The year-end rally starts today and may be higher than investors were expecting," he said Wednesday. Goldman data shows buybacks are already up 15% in 2024 from the last year, at more than $1.05 trillion. "We know we are fighting the tape here, but believe it makes sense to sell the stock."
Persons: Donald Trump's, Kamala Harris, ChatGPT, Goldman Sachs, Scott Rubner, Rubner, Goldman, Baird Organizations: Dow Jones, Nasdaq, Goldman, JPMorgan Chase
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors should expect more aggressive actions with China, says JPMorgan's Michael FeroliMichael Feroli, JPMorgan chief U.S. economist, joins 'Money Movers' to discuss how economists are forecasting growth, how tariffs will impact the U.S. economy, and when its time to worry about debt and deficits.
Persons: JPMorgan's Michael Feroli Michael Feroli Organizations: JPMorgan Locations: China
Major stock indexes soared Wednesday morning in the wake of Donald Trump's decisive victory in Tuesday's presidential election. The last time the Dow, which represents larger, more established firms, saw a 1,000-point jump in a single day was November 2022. NBC News is projecting that Trump will finish with 276 Electoral College votes in his defeat of Vice President Kamala Harris, his Democratic opponent. Trump has promised to extend or enact sweeping tax cuts and deregulatory policies that are widely supported across the business community. That represents market pushback on one of Trump's key policy planks: A weaker dollar that would support U.S. exports.
Persons: Donald Trump's, Kamala Harris, Trump, David Bahnsen, Wells, Russell, Isaac Boltansky, Boltansky Organizations: Nasdaq, Dow Jones Industrial, Dow, NBC, Trump, Electoral, Democratic, Senate, Bahnsen, JPMorgan, Bank of America, U.S Locations: Wells Fargo, BTIG, U.S
JPMorgan CEO Jamie Dimon congratulated Donald Trump on winning the White House. In a memo to staff, Dimon and other top JPM executives called for "bringing our nation together." On Wednesday, JPMorgan CEO Jamie Dimon weighed in to say the time has come to band together as a nation. In a memo to staff, members of the bank's operating committee, including Dimon, congratulated Trump before recalling Dimon's comments from Election Day about national unity. AdvertisementRead the full contents of the Wednesday memo from JPMorgan's Operating Committee about Trump's victory below.
Persons: Jamie Dimon, Donald Trump, Dimon, , Donald Trump's, Kamala Harris, Trump, Jamie, Diana Frost, Kraft Heinz, Judith Kent, Harris, Walz, Kent, Goldman Sachs, David Solomon, JD Vance, Ashley Bacon, Jeremy Barnum, Lori Beer, Tim Berry, Mary Erdoes, Wealth Management Stacey Friedman, Teresa Heitsenrether, Marianne Lake, Consumer & Community Banking Robin Leopold ,, Doug Petno, Global Banking Jenn Piepszak, & Investment Bank Daniel Pinto, JPMorgan Chase Troy Rohrbaugh, & Investment Bank Sanoke Viswanathan, Reed Alexander Organizations: White, Service, Wednesday, JPMorgan, Dimon, Wells, Wall Street, Wealth Management, Consumer & Community Banking, Human, Global Banking, & Investment Bank, International Consumer Locations: Wall, United States, Washington ,, Wells Fargo, Michigan
Markets, in particular, crave certainty, and the clear path forward will allow companies to adjust their business and hiring plans. But stocks may also be reacting to Trump’s victory, in particular. Trump flipped several swing states from President Joe Biden’s 2020 victory, and Republicans also took control of the Senate. So Trump’s victory, at least for now, appears to be keeping those rates somewhat higher. Other so-called Trump trades, including shares of his social media stock, Trump Media & Technology Group, surged Wednesday morning.
Persons: Donald Trump, Trump, Joe Biden’s, refocusing, Sam Stovall, Bitcoin, Crypto, Trump’s, Germany’s DAX, Australia’s, , Neil Newman, Hong, ” Daniel Murray Organizations: New, New York CNN —, Dow, Nasdaq, Republicans, Fed, JPMorgan, Democratic, CFRA Research, Gross, Treasury, Trump, Trump Media & Technology Group, CAC, Nikkei, Advisory, EFG Asset Management Locations: New York, Europe, Asia, China, Tokyo, Shanghai
Goldman Sachs reiterates Nvidia as buy Goldman said the stock is best positioned ahead of earnings later this month. JPMorgan upgrades Yum China to overweight from neutral JPMorgan upgraded the China operator of brands like KFC following earnings. Wedbush reiterates Tesla as outperform The firm said the EV maker is a big winner of a Trump presidency. Deutsche Bank reiterates Spotify as buy Deutsche said it's bullish heading into the streaming company's earnings report on November 12. JPMorgan downgrades Super Micro to underweight from neutral JPMorgan downgraded the stock following earnings citing too much regulatory uncertainty.
Persons: Bernstein, Apple, Goldman Sachs, Goldman, YUMC, Wedbush, Tesla, Trump, Jefferies, Raymond James, it's, Wells, BURL, Oppenheimer, TD Cowen downgrades Brown, Forman, Cowen, Needham, revs, Ferrari, it's bullish, Mizuho, Monness Crespi Hardt, Snowflake Organizations: Nvidia, JPMorgan, KFC, Trump, Ryman Hospitality, Citi, GE Healthcare, General Electric, Barclays, Tencent, Entertainment, Deutsche Bank, Spotify, Deutsche, Nike, Burlington, GAP, Super Micro, Services, UBS, Ferrari, Data Center, 2027E, Bank of America, of America Locations: China, 2Q24, Snowflake
These stocks are soaring off the Trump victory
  + stars: | 2024-11-06 | by ( Elisabeth Buchwald | ) edition.cnn.com   time to read: +5 min
That would mark a reversal from the Biden administration, which allowed migrants seeking asylum to legally work in the country while awaiting trial. A Trump administration is expected to approve Capital One's proposed merger with Discover Financial Services. Andrew Caballero-Reynolds/AFP/Getty ImagesGenerally, a Trump administration is expected to be more supportive of mergers and acquisitions compared to the Biden administration, which has sought to block many. Retail and green energy stocks falterWednesday wasn’t all good news for stocks, though. Trump is widely expected to repeal tax credits and other incentives President Joe Biden pushed for in the Inflation Reduction Act.
Persons: Donald Trump’s, Biden, It’s, Trump, Tesla Elon, Tesla, Donald Trump's, Elon Musk, Trump . Thibaut Durand, Hans Lucas, JPMorgan Chase, Jamie Dimon, Michael Barr, Goldman Sachs, Andrew Caballero, Reynolds, bitcoin, Joe Biden Organizations: New, New York CNN, Prisons, GEO Group, SpaceX, Trump ., Getty, Bank, JPMorgan, Federal, Citigroup, Discover Financial Services, Capital, Republican, JetBlue, Spirit Airlines, Trump, Mattel, Hasbro Locations: New York, AFP
With Election Day upon us, many investors are wondering how to, or if they even should, position their stock portfolios ahead of knowing who the next president will be. Indecision will hurt the stock market, not destroy it, but bruise it because the only thing markets really hate is uncertainty." Jim also wrote Sunday that the stock market will more than likely be just fine no matter who wins the presidency. Bottom line A quick and decisive presidential election outcome — one way or the other — is what's best for the stock market. Combination with Former President and Republican Presidential Candidate Donald Trump (L), and Vice President and Democratic Presidential Candidate Kamala Harris.
Persons: Donald Trump, Kamala Harris, That's, Joe Biden, Jim Cramer, Jim, we've, Barack Obama, Biden, George W, Bush, Richard Nixon, Jim Cramer's Organizations: NBC News, Democratic, Republican, Trump, JPMorgan, Dow, Nasdaq, Federal Reserve, Jim Cramer's Charitable, CNBC
Morgan Stanley reiterates Live Nation as overweight Morgan Stanley raised its price target on the stock to $140 per share from $120. Bank of America reiterates Apple as buy Bank of America says it sees "limited" impact to Apple earnings regardless of the Presidential outcome. Bank of America reiterates Palantir as buy The firm says Palantir is an AI "juggernaut" following earnings on Monday. Bank of America reiterates Arista Networks as buy Bank of America says it sees share gains ahead for the networking equipment company. Morgan Stanley reinstates Krispy Kreme as equal weight Morgan Stanley says Krispy Kreme has a balanced risk/reward right now.
Persons: Morgan Stanley, it's bullish, Eli Lilly, Palantir, Bernstein, Eaton, Deutsche, there's, Jefferies, Rick Dreiling, MTZ, Morgan Stanley reinstates Krispy, Krispy Kreme Organizations: Bank of America, Boeing, JPMorgan, RBC, Microsoft, " Bank of America, Broadcom, Apple, Republicans, Arista Networks, Arista, Meta, Deutsche Bank, eBay, Barclays, Energy, Infrastructure, Communications, Resources, IDA Locations: San Antonio, Redmond , WA
Bitcoin, an asset tied to a Trump victory given the candidates courtship of the industry, soared to a record $75,000 . Heading into the election, investors and analysts pointed to several stocks and sectors that could benefit from a Trump win. Here's a roundup of some of those: Steel stocks If Trump regains the presidency, JPMorgan expects steel stocks to outperform . Related stocks that could outperform under a Trump victory include Nucor , Cleveland-Cliffs , Kaiser Aluminum and MP Materials , according to Peterson. Supporters of Trump have also used the stock as a way to invest in a Trump victory.
Persons: Donald Trump ., Trump, Kamala Harris, Here's, Bill Peterson, Peterson, UBS's, Goldman Sachs, Strategas, Lazard, Wolfe, Tesla, Elon Musk's, Marion Laboure, bitcoin, Nic Puckrin, David Zerzos, Zerzos, Marcelli, Seth Seifman, Russell, Joe Biden, IWM, , Halliburton, Trump's, ULTA, Michael Bloom, Sean Conlon, Alex Harring, Fred Imbert, Pia Singh Organizations: U.S, NBC, Stock, Dow Jones Industrial, Trump, JPMorgan, Aluminum, Financials Bank of America, of America, UBS's Trump, UBS, Swiss, Citigroup, Citizens, Wolfe Research, GOP, Trump Media & Technology, Trump Media, ISI, Deutsche Bank, Investors, Jefferies, Military, Strategas, Gas Energy, Evercore ISI, Exxon Mobil, Halliburton, Companies Locations: Nucor, Cleveland, U.S, China, U.S . Southern
As investors await the results of a tightly contested U.S. presidential election, JPMorgan is eyeing a collection of stocks that is less dependent on the outcome. Against that backdrop, the bank compiled a list of stocks with little exposure to election themes. Here is a look at some of the stocks on JPMorgan's list: Expedia made the list. EXPE YTD mountain Expedia stock. SBUX YTD mountain Starbucks stock.
Persons: Expedia, Uber, Barry Diller, Brian Niccol, headwinds Organizations: JPMorgan, Starbucks, Disney, Hilton Worldwide Locations: U.S
A recent mean reversion trade I shared on Alibaba demonstrated this well when I pointed out that Chinese stocks were due for a pullback. Today, I'm looking at a potential mean reversion trade on JPMorgan (JPM) . I cover many of these setups in my book Mean Reversion Trading . For instance, with JPM trading around $220, I'd set up the trade by purchasing a 225 strike put and simultaneously selling a 220 strike put. -Nishant Pant Founder: https://tradingextremes.com Author: Mean Reversion Trading Youtube, Twitter: @TheMeanTrader DISCLOSURES: (Nishant currently holds a JPM 225-220 put spread expiring on 11/22.)
Persons: Morgan Stanley, Alibaba, I've, I'm, I'd, Nishant Pant Organizations: JPMorgan Chase, JPMorgan, CNBC, NBC UNIVERSAL Locations: Wells Fargo, BlackRock
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