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☆ 3 reasons why Truist's CIO says it's time to plow money into the tech sector again despite its worst one-month underperformance in 20 years
▼ + stars: | 2024-08-14 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

The secular megatrend of AI remains strong as Big Tech companies continue to invest billions into developing the technology. Forward earnings estimates for the tech sector are rising to all-time highs, indicating continued optimism. Investor expectations have now become recalibrated after the correction, providing tech stocks with more room to grow, in Lerner's opinion. AdvertisementTruistA cooling macroeconomic environment will also provide a boost to tech stocks as investors flock back to Big Tech, according to Lerner. With the Fed likely to begin cutting rates in September, many of the Big Tech companies are poised to benefit.

Persons: —, Keith Lerner, Lerner, that's, shouldn't, Truist, outperformance, He's Organizations: Service, Business, Semiconductor, Big Tech, Tech, Vanguard Information Technology, VanEck Semiconductor

☆ 'AI shopping list': Morgan Stanley names its top global picks to play the AI theme
▼ + stars: | 2024-08-13 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

The buzz around artificial intelligence may have quietened after a volatile week for some of the sector's biggest names, but Morgan Stanley continues to see promise in a raft of European stocks. Morgan Stanley's "European AI shopping list" includes names ranging from semiconductor equipment and data center plays to software and healthcare companies. Morgan Stanley has a target price of 1,000 euros ($1,092) on the stock, giving it over 27.5% potential upside. Segro Morgan Stanley describes British REIT Segro as the "landlord of Europe's largest cluster of data centers." Morgan Stanley has a target price of 224 euros on the stock, giving it around 18.3% upside potential.

Persons: Morgan Stanley, Morgan Stanley's, ASML Morgan Stanley, Lee Simpson, ASML's, Simpson, Segro Morgan Stanley, Segro, Bart Gysens, SAP Morgan Stanley, Adam Wood, Merck KGaA, Morgan, Thibault Boutherin, Boutherin, — CNBC's Michael Bloom Organizations: Apple, Euronext, Nasdaq, London Stock Exchange, Euronext Paris, American Depository, SAP, Frankfurt Stock Exchange, New York Stock Exchange, Merck, EMD Group, Canada, Merck KGaA's Electronics Locations: Europe, TSMC, Euronext Amsterdam, U.S, United States, Frankfurt

☆ Market sell-off won't last for one key reason, CIO says: There's no tech bubble to burst
▼ + stars: | 2024-08-12 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Global markets are cautiously rebounding from an early-August rout — and one asset manager says there's no need to fear a burst tech bubble causing a persistent downturn. "I just don't see a tech bubble. Pointing to the Nasdaq, Singh noted that on an equally-weighted basis — giving each stock the same weight regardless of market capitalization — the index is flat over the last three years. "So if you have 100 stocks and seven of them are doing well because they have delivered [on] earnings, that's fine. The tech sector's recent bull run has in part been powered by the so-called "Magnificant Seven" of Apple , Amazon , Alphabet , Meta , Microsoft , Nvidia and Tesla .

Persons: —, there's, Wall, Manish Singh, CNBC's, Singh Organizations: Crossbridge, Nasdaq, Apple, Microsoft, Nvidia, Tesla

☆ The energy sector decline is overdone and this stock could lead the bounce, according to the charts
▼ + stars: | 2024-08-12 | by ( Katie Stockton | ) www.cnbc.com time to read: +7 min

—Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein. This material is not to be reproduced or redistributed absent the written consent of Fairlead Strategies.

Persons: DVN, Katie Stockton Organizations: Devon Energy, CNBC, NBC UNIVERSAL, Fairlead, CNBC Pro, Securities Locations: Devon

☆ A top 1% fund manager over the last 15 years warns a selling spiral threatens to sink the market — and shares 4 stocks he's betting on to capitalize on the turmoil
▼ + stars: | 2024-08-10 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Yes, the S&P 500 is just off of all-time highs following a 36% percent rally from October to July. Major stock prices begin to perform poorly, which drags down the S&P 500 Index, which in turn causes the selling of the index. The index selling puts a drag on the largest-cap stocks, which adds more legs to the index selling." The S&P 500 is up 49% since late 2022 as bears have continued to warn of downside. AdvertisementSecond, lower interest rates would spark demand and could cause inflation to resurface, which would be good for oil stocks, Smead said.

Persons: —, Smead doesn't, Smead, Warren, We're, Dow, Jeremy Grantham, John Hussman, Stocks, LEN Organizations: Service, Business, Morningstar, Smead, Bank of America, Technology, Fund, Federal, Fed, DR, Occidental Petroleum, Apache

☆ Tuesday's analyst calls: Taiwan Semiconductor a buying opportunity, CrowdStrike upgraded
▼ + stars: | 2024-08-06 | by ( Fred Imbert | ) www.cnbc.com time to read: +6 min

He increased his price target by $25 to $575, which suggests shares can jump about 20.9% over the next year. Rollins upgraded the stock to neutral from sell and upped his price target from $1.25 to $3.15 per share, which implies roughly 21.6% potential upside. Analyst Rick Wise initiated coverage of GE Healthcare with a buy rating and $100 price target, which suggests 22.7% upside. Analyst Rob Owens upgraded the global cybersecurity company to overweight from neutral and lowered his price target by $20 to $290, which implies 30.6% upside. Its price target of 1,200 Taiwanese dollars implies upside of 36.4%.

Persons: Morgan Stanley, Piper Sandler, Rob Sanderson, Sanderson, — Pia Singh, Michael Rollins, Rollins, Lumen, Rick Wise, Wise, CrowdStrike, Rob Owens, Owens, pare, Price, Charlie Chan, Chan, Fred Imbert Organizations: CNBC, Taiwan Semiconductor, Meta, Citi, Lumen Technologies, GE Healthcare, Delta Air Lines, Microsoft Locations: U.S

☆ Apple and Nvidia tank as 'Magnificent Seven' tech stocks take a battering
▼ + stars: | 2024-08-05 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

Shares in the "Magnificent Seven" tech giants fell on Monday amid a global sell-off. AdvertisementShares in the so-called "Magnificent Seven" tech giants plummeted on Monday as fears of a US recession triggered global market disruption. In pre-market trade, the two tech giants had fallen by more than 15% and 18% respectively. The combined value of the "Magnificent Seven" is now below $15 trillion, down from a peak of $17 trillion in July. The tech sector's market volatility was set to continue on Monday, with the Nasdaq Composite down 4.28%.

Persons: —, Tesla Organizations: Service, Nvidia, Apple, Microsoft, Meta, Tech, Nasdaq

☆ Trump's bitcoin strategy was shared behind closed doors with CEOs who raised $25 million. Here's what he told them.
▼ + stars: | 2024-08-01 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +15 min

Bitcoin 2024 attendee wears "Make Bitcoin Great Again" baseball cap. Trump said on Saturday that his campaign has raised $25 million from the crypto industry since it began accepting cryptocurrency donations in May. "Make Bitcoin Great Again" hats displayed for sale at the Bitcoin 2024 conference in Nashville, Tennessee, US, on Saturday, July 27, 2024. "The rules will be written by people who love your industry, not hate your industry," Trump declared that afternoon in the main auditorium as he warmed up the crowd. As Riot's Les put it, "I think the core message that we communicated to President Trump was, 'This is your industry leadership group.

Persons: Donald Trump, Jon Cherry, Donald Trump White, Tyler, Cameron Winklevoss, Paul Grewal —, David Sacks, Cantor Fitzgerald, Howard Lutnick, Cynthia Lummis, Bill Hagerty, Marsha Blackburn, Vivek Ramaswamy —, Kid Rock, Billy Ray Cyrus, Jason Les, Fred Thiel, Zach Bradford, Chris Cook, Amanda Fabiano, Michael Saylor wasn't, Saylor, Trump, That's, Donald Trump's, Les, he's, litigator, Tracy Hoyos, Cyrus strummed, " Hoyos, López, Hoyos, Cyrus, López Trump, Marathon's Thiel, Thiel, David Bailey, Bailey, Sen, Elizabeth Warren, Gary Gensler —, Kamala Harris, Cook, Saturday's, CleanSpark's Bradford, Riot's Les, indoctrinating, Bradford, they've, It's, we're Organizations: Republican, Getty, Music City Center, GOP, Gemini, Trump, U.S ., State Department, Marathon Digital Holdings, CNBC, Music City, Riot, Attorney, Bitcoin, BTC Inc, U.S . Securities, Exchange, US, Bloomberg, indoctrinating Trump, Industry, Mar Locations: Nashville , Tennessee, San Francisco, Nashville, Mar, Lago, U.S, San Bernardino County, López

☆ Here are JPMorgan's top drug stock picks into earnings
▼ + stars: | 2024-07-29 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

JPMorgan is eyeing a few drug manufacturers ahead of their earnings reports as investors continue to sell out of major technology firms. This backdrop has analyst Chris Schott reviewing JPMorgan's top pharmaceutical and biotechnology stocks, which includes "stories that have clear upside potential to longer-term estimates" like Eli Lilly and Merck. Eli Lilly Pharmaceutical company Eli Lilly made the list. Schott said the firm is somewhat below consensus Wall Street estimates for Eli Lilly heading into second-quarter results on Aug. 8. LLY YTD mountain Eli Lilly stock.

Persons: Johnson, Merck —, Chris Schott, Eli Lilly, Merck, Schott, —, Regeneron Organizations: JPMorgan, Dow Jones, Johnson, Merck, US Major Pharma, Schott, FactSet, Pharmaceuticals Locations: Mounjaro, Novo

☆ From bankruptcies to price wars, the US freight recession is reshaping the industry
▼ + stars: | 2024-07-28 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

The freight recession will likely remain drag on into a sixth quarter, according to AFS Logistics. Bankruptcies and aggressive competition have defined the industry downturn, the firm told Business Insider. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThere's no end in sight for the freight recession, and the downturn is reshaping dynamics in the industry. This story is available exclusively to Business Insider subscribers.

Persons: Tom Nightingale, —, Cowen Organizations: AFS Logistics, Business, Service

☆ Fast-food chains battle for low-income diners with summer value meals
▼ + stars: | 2024-07-28 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

But these days, other fast-food chains have revived the $5 price point, hoping to win over customers who have cut back their spending. Sensing diners' fast-food backlash, players such as Brinker International's Chili's have used their marketing to highlight their own value relative to the cost of a fast-food meal. Shares of McDonald's, Burger King parent Restaurant Brands International and Wendy's have all slid by double digits this year. Taco Bell owner Yum Brands is down more than 1% in 2024. Restaurant Brands and Yum Brands are expected to report their quarterly earnings the following week.

Persons: Taco, Burger, Wendy's, McDonald's, Brinker, Rick Cardenas, Robert Byrne, Eric Gonzalez Organizations: Taco Bell, Darden, Burger King, Restaurant Brands, Yum Brands, CNBC, Restaurant

☆ A 5-part investing playbook for avoiding chaos as US stocks head down a rocky path to the election: Truist's strategy chief
▼ + stars: | 2024-07-23 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Read previewInvestors should stay on guard as this market rally loses steam, a veteran strategy chief says. The investment chief and the chief market strategist signaled in April that US equities had an attractive risk-reward setup after a 5.5% selloff. "All those factors combined suggest maybe a choppier market, even though we still think the long-term bull market is intact," Lerner said. "In the fall, I think investors will eventually come back to tech because I still think that's the main secular theme of this bull market," Lerner said. "But I don't know that this is a game changer for this bull market where small caps will be leadership."

Persons: —, Truist's Keith Lerner, Lerner, Truist, Truist Lerner, he's, you've, isn't, haven't Organizations: Service, Nasdaq, Business

☆ Investment banking is back — and the recovery is just getting started
▼ + stars: | 2024-07-21 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Investment banking was the rock star of big bank earnings this season. For Club stock Morgan Stanley, investment banking revenues surged 51% year over year with equity underwriting fees jumping over 56%, and advisory fees increasing over 30% from the year-ago period. Wells Fargo's investment banking revenues, which fall underneath its corporate and investment banking (CIB) division, jumped 38% year over year. "The investments we have been making allowed us to take advantage of the market activity in the quarter with strong performance in investment advisory, trading and investment banking fees." And good news for investors, it doesn't look like the rebound in investment banking is slowing anytime soon.

Persons: Morgan Stanley, Wells, JPMorgan Chase, Goldman Sachs, Goldman, Morgan, We've, Morgan Stanley's, NII, Charlie Scharf, Ted Pick, we're, David Solomon, Donald Trump, Jim Cramer's, Jim Cramer, Jim, JPMorgan Organizations: JPMorgan, Bank of America, Citigroup, Citi, Investment, IB, Federal Reserve, Wells, CNBC, CIB, Morgan, Wall, Citibank, JPMorgan Chase, Reuters Locations: Wells Fargo, Wells, U.S

☆ U.S. will fall behind in the AI race without natural gas, Williams Companies CEO says
▼ + stars: | 2024-07-19 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

"The only way we're going to be able to keep up with the kind of power demand and the electrification that's already afoot is natural gas," Williams Companies CEO Alan Armstrong said in an interview Thursday. Williams Companies handles about one-third of the natural gas in the U.S. through a pipeline network that spans more than 30,000 miles. Some of the largest independent data center developers, which build the infrastructure that houses servers for other companies, have approached Williams to receive natural gas capacity directly from the company's pipelines, Armstrong said. We've run out of alternatives — we can't meet the needs of our customers without using natural gas,'" Armstrong said, without disclosing names. Williams projects natural gas to demand to grow 18% from 2023 through the end the decade across all sources of consumption, including power generation and liquid natural gas, Armstrong said.

Persons: Alan Armstrong, Williams Cos, Carter Smith, Williams, Armstrong, We've, We're Organizations: P Global, Bloomberg, Getty, CNBC, Williams, Williams Companies, Transcontinental, U.S, Dominion Energy, Southern Company Locations: Houston , Texas, U.S, Virginia, Georgia, Turkey, Atlanta

☆ Don't bet on the stock-market rotation as small-caps historically suffer when rates come down, Barclays says
▼ + stars: | 2024-07-19 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Small-caps historically decline before and after the first interest rate cut, Barclays reported. This argues against the growing narrative that the easing cycle will boost small-caps, the bank said. AdvertisementBarclays ResearchTheir finding opposes many prevailing viewpoints on Wall Street, where rising bets of lower interest rates have sent investors piling into the small-cap trade. In part, falling interest rates might help ease debt burdens, but they can also signal a cooling economy — which favors large-cap exposure. Market veteran Ed Yardeni wrote this week that the small-caps trade has no legs, given the sector's lackluster forward earnings, revenue, and profit margins.

Persons: —, Venu Krishna, Russell, June's, Tom Lee, Ed Yardeni, Liz Young Thomas Organizations: Barclays, Service, NASDAQ, Federal

☆ Palantir stock has 67% upside amid rapidly rising demand from big businesses for AI tools, Wedbush says
▼ + stars: | 2024-07-18 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Palantir stock is a top AI play that's undervalued by Wall Street, Wedbush analyst Dan Ives said. Ives pointed to deals with government agencies and businesses to back up his $50 per share bull case for 2025. AdvertisementPalantir Technologies is a top AI play and the stock could rocket to $50 a share next year, according to Wedbush Securities. Ives also pointed to Palantir's differentiated bootcamp strategy, which walks companies through how to use AI to optimize operations. Ives sees Palantir's success only growing as the projected $1 trillion in AI spending by corporations is felt in the market.

Persons: Dan Ives, Ives, Palantir, —, PLTR Organizations: Wall, Service, Wedbush Securities, US Army

☆ The small cap rally ‘has legs,’ says Citi’s stock strategist Scott Chronert
▼ + stars: | 2024-07-18 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

After a difficult two years for small cap stocks, the sector finally appears on path for a comeback, according to Citi Research head of U.S. equity strategy Scott Chronert. The small cap benchmark Russell 2000 index is up 4.3% week to date alone amid a 9.4% rally in July. As investors become more enthusiastic on the prospect of forthcoming interest rate cuts, they've started to sell off mega cap technology names — which have led the market rally — in favor of the rate-sensitive small cap sector. Banks currently have an "easier" valuation starting point, according to Chronert. The sector overall contains little exposure to tariffs — which has become a major campaign platform of former president Donald Trump.

Persons: Scott Chronert, they've, Chronert, CNBC's, Russell, Banks, Donald Trump Organizations: Citi Research, Federal, Trump, CNBC, Market, Survey

☆ Top tech analyst Mark Mahaney gives his new picks and names a surprising potential underperformer
▼ + stars: | 2024-07-16 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

With the second-quarter earnings season beginning to gain steam, Evercore ISI's Mark Mahaney has updated his list of tactical calls. He has a $225 price target on shares, indicating upside potential of about 20%. "We continue to believe that recent concerns about UBER being negatively impacted by an AV rollout are mis-placed," said Mahaney. Mahaney added that Uber shares are currently trading at a "very attractive" valuation of around 20 times enterprise value to free cash flow. With shares trading approximately 30% below their 52-week high, Mahaney thinks now is an attractive time to enter what he calls "a best-in-class ecommerce platform business."

Persons: Mark Mahaney, Mahaney, Uber, Evercore Organizations: Technologies, Expedia, Google, Mobility, TAM, Amazon Locations: Monday's

☆ Former Truist CEO Kelly King on bank earnings
▼ + stars: | 2024-07-15 | 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 EmailFormer Truist CEO Kelly King on bank earningsKelly King, former Truist CEO, joins 'Closing Bell: Overtime' to discuss regional bank earnings and the sector's outlook.

Persons: Kelly King

☆ China gears up for next week's Third Plenum meeting. Here's why real estate isn't likely the main focus
▼ + stars: | 2024-07-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

Bloomberg | Bloomberg | Getty ImagesBEIJING — China's real estate problems may be massive, but analysts expect the upcoming Third Plenum to focus on other areas — such as high local government debt levels and a push for advanced manufacturing. "For real estate markets, I don't think it should be a focus of the plenum, because it's already [in a] state that everyone has a consensus [on]," Wang said. watch nowIn his view, excessive growth of the financial sector was behind the hollowing out of the U.S. industrial sector. "Consequently we must constrain the financial industry, including real estate. That's the underlying reason for tightened regulations on both real estate and finance."

Persons: Larry Hu, Hu, Xi Jinping, Deng Xiaoping's, Dan Wang, She'll, it's, Wang, hasn't, Yao Yang, Yao, Goldman Sachs Organizations: Chinese Communist Party, Bloomberg, Getty, BEIJING, Communist Party of, Macquarie, CNBC, Central Committee, Communist Party, Party, President, Hang Seng Bank, HSBC, HSBC It's, Committee, China Center for Economic Research, Peking University, U.S, China Morning Post, Financial Regulatory Administration, World Bank, Big Data Locations: Communist Party of China, Beijing, China, United States, Big Data China

☆ These 3 stocks are set to bounce once the Fed finally lowers interest rates
▼ + stars: | 2024-07-11 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. "This CPI is really in control today," Jim Cramer said. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Morgan Stanley, Stanley Black, Decker, Morgan, toolmaker Stanley, Wells, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Big Tech, Federal Reserve, Nvidia, Apple, Microsoft, Street Locations: NII

☆ Credit investments aren't worth the risk right now, says bond giant PIMCO
▼ + stars: | 2024-07-10 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Private corporate credit is vulnerable to higher interest rates or an economic slowdown, the firm added. What's more, less-liquid private credit is not offering high enough premiums for borrowers that lock in their investments. "The compensation for providing liquidity is declining across both public and private credit markets as more capital chases too few opportunities," CIO of core strategies Mohit Mittal explained. "New investments are entering at potentially unattractive valuations, with corporate spreads across public and private credit markets near record lows." Meanwhile, some corners of private credit are susceptible to an increased macro uncertainty.

Persons: PIMCO, —, Mohit Mittal, that's, Mittal Organizations: Service

☆ Samsung really wants to outsmart Apple in the Galaxy-iPhone battle
▼ + stars: | 2024-07-06 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

From the city of Suwon, Samsung — the family-led titan of Korean industry — has been the world's top smartphone seller, beating Apple. Last month, Apple unveiled Apple Intelligence, a vision of generative AI that will give its devices a total refresh. In doing so, Apple hopes to inspire consumers to upgrade their iPhones so they can access its suite of AI features. (Only newer models like the iPhone 15 Pro and upcoming iPhone 16 line-up will offer Apple Intelligence). It debuted Galaxy AI, its first take on generative AI features for its devices, at the January launch of its flagship Galaxy S24 range.

Persons: —, Lee Jae, Park, Lee, Siri Organizations: Service, Samsung, Apple, Business, IDC, Samsung Electronics, Bloomberg, South, Apple Intelligence, AI, Samsung Galaxy, Google Locations: South, Suwon, Paris, China

☆ GlobalFoundries races to find semiconductor talent as demand for chips soars
▼ + stars: | 2024-07-05 | by ( Kate Rogers | ) www.cnbc.com time to read: +5 min

The U.S. chips industry is expected face a shortage of 67,000 technicians, computer scientists and engineers by 2030, while the broader U.S. economy is set to have a gap of 1.4 million such workers, according to a 2023 study from the Semiconductor Industry Association. A wafer sorter inside the GlobalFoundries semiconductor manufacturing facility in Malta, New York, on June 18, 2024. The company creates chips for everyday products from electronics and phones to autos, in addition to components for space and defense. The GlobalFoundries semiconductor manufacturing facility in Malta, New York, on June 18, 2024. Morgan Woods, 28, started out in Malta, New York, at GlobalFoundries' fab facility as a technician in 2021.

Persons: Cindy Schultz, Lockheed Martin, Pradheepa Raman, Raman, Morgan Woods, Woods, GlobalFoundries Organizations: Semiconductor Industry Association, Deloitte, Bloomberg, Getty, General Motors, Lockheed, CNBC, Workers, GM, U.S Locations: U.S, Malta , New York, New York, Vermont

☆ Stock market today: US stocks close at record highs after dovish June jobs report
▼ + stars: | 2024-07-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The June jobs report showed 206,000 jobs added to the economy, slightly above estimates. "To us, the message is the labor market is slowing," Fundstrat's Tom Lee said of the June jobs report. AdvertisementUS stocks closed at fresh record highs on Friday after a dovish June jobs report. Both indexes finished the week at record highs, while the Dow Jones Industrial Average has yet to hit its record high reached in May. AdvertisementThe April jobs report was also revised lower to 108,000 jobs added that month, down from the initial reading of 165,000.

Persons: Tom Lee, —, Steven Blitz, Lombard, JPMorgan's David Kelly Organizations: Service, Nasdaq, Dow Jones, Federal Reserve, Fed, GlobalData

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