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☆ Citigroup shares rise after first-quarter revenue tops expectations
▼ + stars: | 2023-04-14 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Citigroup reported rising net income and better-than-expected revenue for the first quarter, boosting its stock in premarket trading Friday. $4.6 billion in net income versus $4.3 billion in the same period last year$21.45 billion in revenue versus $19.99 billion expected, according to Refinitiv. Personal banking revenue rose 18% year over year, reflecting higher interest rates. Fixed income markets revenue rose 4% year over year, though that was offset by declines in investment banking and equity market revenue. Net income was down 19% year over year when excluding the impact of the sales.

☆ Ether is poised to climb higher with the uncertainty of 'Shanghai' behind investors
▼ + stars: | 2023-04-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +7 min

Market participants say that with all the uncertainty out of the way, ether may finally catch up with bitcoin. After Shanghai Investors can now withdraw staked ether from the network for the first time ever: This is one of the biggest attractions of the Shanghai upgrade. This Merge ultimately made more liquidity available to ether investors and stakers. "Dominance" measures how a crypto asset like bitcoin is performing relative to its peers in the crypto market. That correlation has declined, however, in part because market participants have favored bitcoin over ether ahead of the Shanghai upgrade.

☆ LVMH Q1 sales lifted by strong Chinese rebound
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

PARIS, April 12 (Reuters) - LVMH (LVMH.PA), the world's largest luxury company, reported a 17% rise in first-quarter sales, more than double analysts' expectations, as China rebounded after COVID-19 lockdowns. LVMH said first-quarter sales grew by 14% in Asia, excluding Japan, and by 8% in the United States. That compared with flat revenues in Asia and 15% growth in U.S. sales for last year. "Asia experienced a significant rebound," the company said in a statement. LVMH made 27% of its 2022 revenues in the Americas, and 30% in Asia excluding Japan.

☆ Morgan Stanley says this chip giant will be a long-term tech leader — and gives it 30% upside
▼ + stars: | 2023-04-12 | by ( Zavier Ong | ) www.cnbc.com time to read: +2 min

The South Korean chip maker also said it will cut memory chip production amid slowing global growth, dwindling demand and oversupply. TSMC When it comes to TSMC, Morgan Stanley is staying bullish despite expectations of near-term pressure on the stock. In the near term, we also expect TSMC's 2Q23 revenue guidance to be weaker than expected," Morgan Stanley's analysts, led by Charlie Chan, wrote in a note on Apr. 20, the bank's base case scenario will see the chip giant guiding for a longer-than-expected inventory correction. Tim Seymour, founder and chief investment officer of Seymour Asset Management, believes the dip in TSMC's share price is a buying opportunity .

☆ Bitcoin Rally Continues, Gaining More Than 80% This Year
▼ + stars: | 2023-04-11 | by ( Bernhard Warner | ) www.nytimes.com time to read: +1 min

Bitcoin is still the market’s runaway success story of the year. Bitcoin has gained more than 80 percent in price so far this year, far outperforming many other assets. The latest Bitcoin rally appears to be partly tied to the Federal Reserve’s monetary policy, which has included nine interest rate increases over the past year. The cryptocurrency is up more than 45 percent since the collapse of Silicon Valley Bank last month. Industry advocates point to the recent rally as a sign that investors are converting some of their cash into digital currencies, though there is little evidence of that happening.

☆ Wall St fluctuates as investors weigh jobs report, earnings on tap
▼ + stars: | 2023-04-10 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

"There’s clearly a disconnect between what the Fed is telling us they’re going to do and what the market believes the Fed is going to do," Pursche added. "When the Fed repeats time after time what their priorities are and what they’re going to do, they’re going to do it." As of Friday, analysts now expect aggregate S&P 500 earnings down 5.2% year-on-year, a stark reversal from the 1.4% annual growth expected at the beginning of the quarter, according to Refinitiv. Among the 11 major sectors of the S&P 500, communication services (.SPLRCL) and technology (.SPLRCT) suffered the largest percentage losses. The S&P 500 posted one new 52-week high and no new lows; the Nasdaq Composite recorded 41 new highs and 131 new lows.

☆ This A.I.-focused tech fund is up more than 20% this year, beating 90% of its peers
▼ + stars: | 2023-04-09 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

One tech fund is capitalizing on the artificial intelligence boom — and beating 90% of its peers this year. "is probably the largest technology theme, driver and disrupter in the next 10 plus years," said Adam Benjamin, fund manager of the $9.5-billion Fidelity Select Technology Fund (FSPTX). Companies that rushed to embrace digital transformation during the pandemic continue to seek ways to improve efficiency through large language models like ChatGPT enabled by A.I., Benjamin said. "In terms of who is really driving the adoption and will be the enabler behind this technology, Nvidia is really far up," Benjamin said. Going into the period of higher rates, software "had gotten probably several orders of magnitude out of whack relative to historical valuations," Benjamin said.

☆ Ether has been climbing ahead of its planned 'Shanghai' tech upgrade. Here's what the event could mean for crypto investors
▼ + stars: | 2023-04-09 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Ether rose last week as investors looked ahead to the Ethereum network's next big tech upgrade. "And greater participation in ETH staking strengthens the security of the Ethereum network as a whole." Data from CryptoQuant suggests any sell pressure would be low, however. Currently, however, the majority of the ETH staked (54%, or 9.7 million ETH) is currently at a loss, the firm said. "Given there's a limited amount of participants that can exit in a day, this sell pressure will not be as instant or violent as advertised by some commentators," he said.

☆ Goldman Sachs: These 29 stocks are poised for higher profits this year than anyone on Wall Street expects
▼ + stars: | 2023-04-08 | by ( James Faris | ) www.businessinsider.com time to read: +2 min

Goldman Sachs shared 29 stocks that it believes will see higher earnings than the market expects. Goldman Sachs29 stocks to buy for better-than-expected earningsBesides underestimating giant growth stocks, Goldman Sachs thinks investors are misjudging corporate profits. Kostin and his colleagues made a list of stocks that have above-consensus earnings estimates from analysts at Goldman Sachs. Below are 29 stocks with earnings estimates from Goldman Sachs that are at least 5% higher than estimates from the rest of Wall Street. Along with each name is its ticker, consensus earnings estimates, earnings estimates from Goldman Sachs, and the difference between the two.

☆ Investor Bill Miller aims to top the S&P 500 consistently once again, but this time with new ETFs
▼ + stars: | 2023-04-06 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

Notable investor Bill Miller is getting into the exchange traded fund game, according to securities filings. Miller Value Partners made the initial filings for what appears to be its first ETFs on Wednesday — the Miller Value Partners Appreciation ETF and the Miller Value Partners Leverage ETF. The leveraged ETF is also actively managed, but will include leveraged ETFs and swaps on the S & P 500 in addition to equities and standard ETFs. Miller Value Partners will use an "adaptive, data-driven approach" to determine each day whether the fund should be leveraged or unleveraged, the filing said. While Miller has made his name as a value investor, he has expanded his portfolio to include bets on certain tech stocks like Amazon .

Below are several charts setting out how ESG funds have held up so far this year. Reuters GraphicsTECH REBOUNDESG equity funds enjoyed a quarter of net inflows, even after the March withdrawals, beating non-ESG equity funds, which lost money. ESG funds have historically owned bank shares because of their relatively lower carbon emissions, Boakye said, although versus traditional funds their exposure to banks is generally lower. Across the quarter ESG bond funds managed to attract more cash than they lost. Reuters GraphicsOUTPERFORMINGThanks to the rebound in tech shares and other sectors shunned in 2022, ESG equity funds outperformed traditional funds during the quarter.

☆ Colombia's peso to stay weak on c.bank pause signs, mismatch vs oil price
▼ + stars: | 2023-04-05 | by ( Gabriel Burin | ) www.reuters.com time to read: +3 min

BUENOS AIRES, April 5 (Reuters) - Colombia's peso will likely stay weak on signs the central bank is turning to a wait-and-see approach on interest rates, combined with downside pressures from the currency's mismatch against oil prices, a Reuters poll showed. Officials at BanRep, as the central bank is known, last week raised the benchmark rate by 25 basis points to 13.0%, a more than 20-year high. "If March inflation behaves as expected, they suggested this could be the last hike," J.P. Morgan analysts wrote in a report. We think this supports our underweight (view) for the peso, which has also decoupled from lower oil prices these past few weeks and offers good entry levels for shorts." The currency has fared poorly for months even while Colombia's central bank conducted an aggressive tightening cycle that added 1,125 basis points in rate increments since a pandemic-time low of 1.75%.

☆ 'Big Short' Michael Burry admits he was 'wrong to say sell' after the Nasdaq 100 entered a bull market
▼ + stars: | 2023-03-31 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Michael Burry tweeted Thursday he was "wrong to say sell" on January 31. Nasdaq 100 entered a bull market on Wednesday after gaining 20% from its December 28 closing low. But Burry walked that statement back, tweeting Thursday that he "was wrong to say sell." Burry's about-turn came after the tech-focused Nasdaq 100 entered a technical bull market for the first time in nearly three years on Wednesday, after the index closed 20% higher from a December 28 low. The Nasdaq 100 index closed 0.9% higher at 12,963.14 on Thursday.

☆ Global stocks outperforming U.S. markets in the first quarter
▼ + stars: | 2023-03-31 | 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 EmailGlobal stocks outperforming U.S. markets in the first quarterCNBC's Seema Mody joins 'Squawk on the Street' to report on why global stocks are outperforming the U.S. market this quarter.

☆ Tech investors are 'too manic' with A.I. right now: Independent Solution's Paul Meeks
▼ + stars: | 2023-03-30 | 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 EmailTech investors are 'too manic' with A.I. right now: Independent Solution's Paul MeeksPaul Meeks, Independent Solutions Wealth Management portfolio manager, joins 'Squawk Box' to discuss why the tech sector is outperforming, whether there's promise in the metaverse, and more.

☆ China-driven growth seen helping emerging assets despite bank worries
▼ + stars: | 2023-03-30 | by ( Duncan Miriri | ) www.reuters.com time to read: +4 min

LONDON, March 30 (Reuters) - Stronger Chinese-led emerging markets growth will likely buffer the stocks, bonds and currencies of many developing nations as markets in the United States and Europe are whipped around by banking turmoil. "The growth premium in favour of emerging markets driven by China is clearly even more confirmed," Alessia Berardi, head of emerging markets (EM) research at Amundi, Europe's biggest asset manager, told Reuters. Analysts expect high interest rates, inflation and stress among some financial institutions to dampen growth in developed markets like the United States. "We prefer income in emerging markets debt with central banks closer to turning to cuts than developed markets, even with potential currency risks," it said in a research note. Local EM bonds have seen a return of 3.3% in the month-to-date (.JGEGDCM), compared to a 3.1% gain in U.S. 10-year Treasuries.

☆ Bitcoin storms toward its strongest quarter in 2 years with a 72% jump, outperforming the Nasdaq and gold
▼ + stars: | 2023-03-29 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Bitcoin is on track for its best quarter in two years, with the token so far seeing a 72% jump. Bitcoin has outperformed the Nasdaq and gold this year, which are up 15% and 9%, respectively. The token has outperformed both the Nasdaq 100 and gold, which are up 15% and 9%, respectively, in the same stretch. And bitcoin got another boost after the collapse of Silicon Valley Bank set off fears of broader bank contagion. "Combined with a low CPI print, the price of bitcoin is pulling retail into the crypto economy again."

☆ Another cultish cost-saving formula gets off-track
▼ + stars: | 2023-03-29 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +9 min

Despite its multiple interpretations and approaches, success is widely gauged by a railway’s operating ratio, a simple measure of how much it spends to make a buck. Union Pacific’s peers improved similarly, indicative of the antiquated ways the industry had been deploying resources. Union Pacific also found itself unable to bring back enough furloughed workers in areas where they were most needed. “In a significant departure from the railroad industry's recent past, we deliberately moved away from a singular focus on operating ratio,” he told lawmakers. “If we wanted to drive [operating ratio] lower over time, we could,” the board wrote in a letter to shareholders in late 2021.

☆ Here's how to spot a good growth stock, according to one fund manager
▼ + stars: | 2023-03-27 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Growth stocks have been enjoying a rebound after a miserable 2022. And the tech sector in particular — a favorite among investors seeking exposure to growth stocks — has been a bright spot amid the banking turmoil. "As a growth manager … one of the things we're trying to think about is, how do you identify good growth businesses?" He said one of the biggest risks of growth investing is paying too much today for future growth. Future growth is very difficult to predict, he said, adding that historical growth isn't particularly indicative of future growth.

☆ 'Sell into rallies': Morgan Stanley names the stocks to navigate current European banking jitters
▼ + stars: | 2023-03-27 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

In the wake of recent market volatility and steep share price falls, Morgan Stanley cautioned that the European banking sector is "not as attractive as it was." Morgan Stanley strategists cautioned that although the banking sector is now cheaper, news flow surrounding earnings upgrades and cash return expectations may fade or reverse. On a top-down basis, Morgan Stanley recommended the following overweight-rated (a buy equivalent rating) stocks to navigate this environment with a defensive exposure. Stocks in traditionally defensive sectors, such as health care and utilities, are being recommended by Morgan Stanley. However, Morgan Stanley said the banking sector's problems have shifted this perspective, as the outperformance of European banks has been closely tied to the broader European market.

As the likelihood of a hard landing this year rises, Barclays says investors should seek quality stocks that are not overly expensive. Large-cap tech stocks have been outperforming the market in 2023, with the S & P 500's tech sector up more than 16%. "Rather than chasing yet another crowded trade that is vulnerable to the next unwind, we recommend seeking safe haven among quality stocks at less demanding valuations," Krishna wrote in a report on Monday. With the growing market uncertainty in mind, Barclays recommended a basket of quality stocks trading at lower valuations as a way to position for the growing risk of an economic downturn this year. Several tech stocks made the list, including Microsoft and Accenture .

☆ Qatar leads Gulf bourses higher on hopes of Fed rate pause
▼ + stars: | 2023-03-26 | by ( Md Manzer Hussain | ) www.reuters.com time to read: +2 min

March 26 (Reuters) - Qatar's stock market closed higher on Sunday, outperforming other bourses in the Gulf region, as expectations of a pause in rate hikes by the U.S. Federal Reserve lifted investor sentiment. The Fed raised its main interest rate by a quarter point on Wednesday, but signaled it would consider a pause in light of banking system stresses. The Qatari Stock index (.QSI) climbed 1.2%, extending its rally to a third straight session. The index recorded an advance in all sectors, with the Gulf's biggest lender Qatar National Bank (QNBK.QA) rising 3.1% and Qatar Islamic Bank (QISB.QA) adding 2.7%. The index was lifted up by a 15.1% jump in Sidi Kerir (SKPC.CA) and a 7% rise in Fawry Banking (FWRY.CA).

☆ These are the three most disliked Dow stocks by Wall Street analysts
▼ + stars: | 2023-03-26 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

With the market experiencing outsized swings, investors may want to stay away from stocks disliked by analysts, at least in the near term. The Dow Jones Industrial Average gained 1.2% last week. .DJI 5D mountain Wild week for the Dow Given this backdrop, CNBC Pro set out to find the most disliked Dow stocks by analysts. The average price target on the stock implies upside of roughly 15%, but the stock has fallen 15.7% year to date and is the worst-performing Dow stock in 2023. Analysts on average rate the stock a hold, with more than 12% of them assigning it a sell rating.

☆ Smiths Group upgrades forecasts after first-half profit jumps
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +1 min

LONDON, March 24 (Reuters) - British industrial technology company Smiths Group (SMIN.L) upgraded its annual forecasts after first-half profit climbed 27% boosted by strong demand for its products from customers in the oil, gas, airports, ports and defence sectors. For the 12 months to the end of July, Smiths said it now expected organic revenue growth of at least 8%, up from guidance given in January for growth of at least 7% after its first-half results beat expectations. Headline operating profit came in at 241 million pounds ($296 million) for the first-half, 27% higher than the same period last year, and above a consensus forecast, on organic revenue growth which stood at 13.5% in the period. "With order books healthy and trading strong, we are again raising our full-year 2023 organic revenue growth guidance," he said in a statement on Friday. Shares in Smiths have risen 14% in the last 6 months, outperforming Britain's bluechip index which is up 7%.

☆ Gold steadies, Fed pause bets brighten outlook
▼ + stars: | 2023-03-24 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

Spot gold was little changed at $1,996.19 per ounce at 1202 GMT, holding a relatively narrow $20 range. U.S. gold futures rose 0.1% to $1,997.50. U.S. 10-year Treasury yields fell for the third straight session, while the dollar index rose 0.7%. Commerzbank raised its year-end gold forecasts to $2,000, joining similar upward revisions by Goldman Sachs, Citi and ANZ. Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Sohini Goswami and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

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