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☆ Breakingviews: Toyota without Toyoda takes a small step forward
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Jan 26 (Reuters Breakingviews) - Akio Toyoda, grandson of the founder of the world’s largest automaker, is handing over his title as Toyota (7203.T) president, which effectively means chief executive, to Koji Sato. The new boss is currently chief branding officer and president of the Lexus luxury unit. Sato’s role at Lexus might be more pleasing to climate activists who have lambasted Toyota for not transitioning to pure electric vehicles quickly enough. (By Pete Sweeney)Follow @Breakingviews on Twitter(The author is a Reuters Breakingviews columnist. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Piper Sandler initiates Albemarle at overweight, says lithium miner's earnings power underestimated
▼ + stars: | 2023-01-26 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Albemarle is a "lithium pure play," with strong earnings power to match, according to Piper Sandler. Piper analyst Charles Neivert began research coverage of Albemarle with an overweight rating, saying investors are underestimating the miner's earnings growth outlook. Lithium is one of five critical minerals required in electrical vehicle batteries, according to the Congressional Research Service. Nievert expects that strong lithium prices will continue to boost earnings as Albemarle expands its capacity — even if lithium pricing eases off from 2022 levels. "Despite the cooling, we still see significant increases in earnings in 2023 as 1H23 earnings comps will be substantially above year ago levels.

☆ Three new stocks gain entry to the Dividend Aristocrat elite, which outperformed in 2022
▼ + stars: | 2023-01-25 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

Smucker have made the cut for the S & P 500 Dividend Aristocrats and will be added to index as of Feb. 1, S & P Dow Jones Indices announced Tuesday. Nordson, which joined the S & P 500 last year, has actually had 42 straight years of dividend raises, according to S & P Dow Jones Indices data. NOBL 5Y mountain The NOBL fund has a solid long-term track record and outperformed during 2022's bear market. All three have outperformed the S & P 500 over the past 12 months. ProShares also offers an S & P Technology Dividend Aristocrats ETF (TDV) , which lowers the bar to seven straight years of dividend hikes.

CNN —The US could be approaching a 2011-style debt ceiling market meltdown, but worried investors shouldn’t abandon ship, Wall Street analysts say. That means that if Congress doesn’t raise the debt ceiling by then, the US could default on its debt. But lawmakers remain in a deadlock about whether to lift their self-imposed borrowing limit: Democrats want Congress to pass a debt ceiling increase without conditions but Republican leadership says that any debt limit increase should be accompanied by spending cuts. Wall Street’s response: A debt ceiling meltdown creates serious risk for investors. Even if the debt ceiling debates are resolved, it’s not a bad idea to have some money invested abroad just in case of upheaval.

☆ A 'January Effect' rally is happening in small cap stocks. Jefferies has some names to keep playing it
▼ + stars: | 2023-01-24 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +3 min

Small-cap stocks have surged in the first few weeks of January, confirming an outperformance that's often seen early on in a new year. So far this year, the Russell 2000 Index – which tracks small-cap stocks — is up 7.4% through Monday's close, outperforming its large-cap counterpart, the Russell 1000, which is up 5% in the same period. Even within small-cap names, the smallest companies by market share have performed the best, according to a Jan. 24 note from Jefferies. "With the calendar turning to the new year, we have seen a nice relief rally in the smallest of the small caps with names below $500M [in market capitalization] up 11.3%," wrote Jefferies small-cap strategist Steven DeSanctis. Restaurants Bloomin' Brands —which owns chains such as Outback Steakhouse and Bonefish Grill — and Dave & Buster's top the Jefferies list of small-cap names with higher-quality themes.

☆ Morning bid: Tech tonic, recession rethink
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +5 min

Pumped-up hopes for U.S. tech sector earnings in a heavy week for corporate updates generally have twinned with the latest sign Europe may have dodged a winter recession. With Microsoft in view, attention will be on the extent for cost cutting and job shedding in the tech and digital space. Music-streamer Spotify (SPOT.N) rose 2% on Monday as it joined a growing list of tech firms to announce staff cuts, shedding 6% of its workforce. Reports of Ford's F.N plan to cut 3,200 workers in Europe shows job attrition may not be confined to tech sector. Whether that's just too rosy and markets have yet to price a full-blown earnings recession is this year's big question.

☆ Gulf economies to slow this year on sluggish oil demand - Reuters poll
▼ + stars: | 2023-01-24 | by ( Anant Chandak | ) www.reuters.com time to read: +2 min

Crude oil prices, a major driver for Gulf economies, are down more than a third from last year's highs and were expected to remain under pressure this year over fears of a recession in major economies sapping demand. Overall growth in the six GCC economies was forecast to average 3.3% and 2.8% this year and next respectively, the Jan. 9-23 poll showed, down from 4.2% and 3.3% in the previous poll. Among other Gulf countries - Qatar, Oman, and Bahrain - growth was expected at 2.4%-2.7% for 2023. Despite lower oil GDP growth, non-oil growth was expected to remain resilient in 2023, economists in the survey said. Analysts expected continued current account surpluses for the main Gulf economies, based on relatively high oil prices.

☆ Morning Bid: Euro rising
▼ + stars: | 2023-01-23 | by ( Wayne Cole | ) www.reuters.com time to read: +2 min

SYDNEY, Jan 23 (Reuters) - A look at the day ahead in European and global markets from Wayne Cole. It's been a quiet start to the week in Asia with much of the region on holiday. U.S. stocks futures are near flat, but EUROSTOXX futures added 0.5% to extend their recent bullish run. Analysts assume the same sea change will deliver an improvement in the EU flash PMIs for January this week, likely outperforming the U.S. surveys. Key developments that could influence markets on Monday:- ECB's Lagarde and Panetta are appearing- No major economic data due on Monday.

☆ Here's why it's time to bet against a key sector of the market ahead of the coming recession
▼ + stars: | 2023-01-23 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Today, I'm sharing a research note from one analyst who's eyeing a new bet to place against a corner of the stock market that offered refuge last year. He's talking about the S&P 500 Consumer Staples Sector SPDR Fund. In his view, the consumer staples sector, which served as a haven last year, presents a bubble about to burst. How much credence do you give to chart analysis for stock market outlooks? The stock market is about to be flipped upside down, according to Bank of America.

☆ Investor Stephanie Link likes this 'blue chip' housing stock
▼ + stars: | 2023-01-23 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Stephanie Link, chief investment strategist at Hightower, moved away from Dollar General to D.R. Horton , a stock she particularly likes in a sector she deemed a smart play. Horton has been a resilient stock though acknowledged the stock could be volatile in the near term. But I do think housing for 2023 into '24 makes sense." "I think this year you want to be more offensive, and you've seen it actually in terms of growth outperforming value."

☆ Earnings playbook: What investors can expect out of Tesla, Microsoft and Boeing
▼ + stars: | 2023-01-22 | by ( Fred Imbert | ) www.cnbc.com time to read: +11 min

Tuesday Johnson & Johnson is set to report earnings before the bell, followed by a conference call at 8:30 a.m. What history shows: Johnson & Johnson has beaten earnings expectations 95% of the time, according to Bespoke Investment Group. Wednesday Boeing is set to report earnings before the bell, followed by a call with analysts at 10:30 a.m. What history shows: FactSet data shows Boeing has posted a greater-than-expected loss in the last five quarters. Tesla is set to report earnings after the close, with management set to hold a call at 5:30 p.m.

☆ Six stocks Goldman Sachs likes ahead of earnings
▼ + stars: | 2023-01-21 | by ( Alex Harring | ) www.cnbc.com time to read: +7 min

Goldman Sachs' analysts have stocks they are confident about going into a new earnings season. The stocks we found are Amazon , ServiceNow , Colgate-Palmolive , Boeing , Microsoft and Cleveland-Cliffs . Colgate-Palmolive Analyst Jason English raised estimates ahead of Colgate-Palmolive's Jan. 27 earnings as headwinds from foreign exchange turn in to tailwinds. While English said the uncertain global environment could hurt Colgate's business, he still expects the toothpaste and soap maker to meet Goldman's 9% per-share earnings growth forecast for the year. Specifically, we are now forecasting AWS growth to decelerate to +21% YoY (vs. +27.5% YoY in Q3'22) with more subdued growth expectations in 2023.

☆ Bitcoin has climbed more than 10% this week, outperforming stocks
▼ + stars: | 2023-01-20 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Cryptocurrencies rose this week even as U.S. equities briefly retreated from their new year rally and a major crypto lender submitted a long awaited bankruptcy filing. Bitcoin was last higher by about 12% for the week, according to Coin Metrics, while ether has risen 14%. The S&P 500 and Doe Jones Industrial Average were last down 0.9% and 2.9%, respectively, for the week. Bitcoin and ether rose 2.73% and 2.15%, respectively, in the same four-day period. "Bitcoin seems to be trading along with the Nasdaq and risk assets again, after the past months of decoupling," said Sylvia Jablonski, CEO and chief investment officer at Defiance ETFs.

☆ Wall St Week Ahead Tech stock rebound faces doubters with earnings season ahead
▼ + stars: | 2023-01-20 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

The tech-heavy Nasdaq 100 index (.NDX) has gained over 3% in 2023, double the rise for the S&P 500 (.SPX). The Nasdaq 100 fell 33% in 2022, while the S&P 500 lost 19.4%. Apple, the largest U.S. company by market value, and Google-parent Alphabet report the following week. Fourth-quarter earnings in the tech sector are expected to have declined 9.1% from a year ago, compared to a 2.8% decline for S&P 500 earnings overall, according to Refinitiv IBES. The S&P 500 tech sector still trades at a roughly 19% premium to the broader index, above its 7% average of the past 10 years, according to Refinitiv Datastream.

☆ Morgan Stanley sees a great opportunity in defense stocks in 2023. Here's its top pick
▼ + stars: | 2023-01-19 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

After strongly outperforming the broader market in 2022, defense stocks are poised to have another solid year in 2023, according to Morgan Stanley. Still, the firm thinks it's a good time to buy defense stocks. It also makes sense given changes to the U.S. defense budget and potential economic weakness ahead, she said. "We see NOC well-aligned to some of the fastest-growing areas of the US defense budget, including space and nuclear modernization," she said. "We also see particular durability in NOC's portfolio and expect its programs to remain well-funded even if defense spending is pressured, limiting downside risk in a Bear scenario."

☆ Texas Instruments replaces CEO Rich Templeton with current operating chief Haviv Ilan
▼ + stars: | 2023-01-19 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Texas Instruments on Thursday announced that its CEO for almost 19 years, Rich Templeton, will step down on April 1 as Haviv Ilan, its chief operating officer, replaces him. But Texas Instruments had carried out a similar plan in 2018 that backfired. "Crutcher resigned due to violations of the company's code of conduct," Texas Instruments said at the time. Ilan arrived at Texas Instruments in 1999 by way of the company acquisition of the Israeli wireless startup Butterfly. Before becoming operating chief at Texas Instruments, he had been senior vice president of its analog signal chain and high-performance analog divisions.

☆ Emerging market stocks are off to a strong start in 2023 — How the outlook is shaping up
▼ + stars: | 2023-01-19 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

Emerging market stocks are off to a strong start in 2023, even as concerns remain for investors. The iShares MSCI Emerging Markets ETF (EEM) tumbled more than 22% in 2022, and more than 5% the previous year. "One of the primary attractions for emerging markets has been compelling valuations," said LPL Financial's Quincy Krosby. Not all emerging markets are equal Even as emerging markets are broadly outperforming, some countries are expected to perform better than others. The iShares MSCI South Korea ETF (EWY) and the iShares MSCI Chile ETF (ECH) are up more than 10% and nearly 1%, respectively.

☆ This asset class is outperforming U.S. stocks in 2023, and you may be missing out
▼ + stars: | 2023-01-19 | by ( Ryan Ermey | ) www.cnbc.com time to read: +3 min

It's a continuation of a relatively strong 2022 in which foreign stocks shed 14.5% compared with an 18% loss for U.S. names . "International stocks are set up quite well," says Ross Mayfield, an investment strategy analyst at Baird Private Wealth Management. Investing experts point to a handful of factors that have boosted the performance of international stocks of late. "Now that it's come back down, it's relieved a lot of the pressure on international stocks." "The sector mix for international stocks is more compatible with the economy we've seen," says Mayfield.

☆ Investors are jumping into bonds to start 2023, and these fixed income ETFs are hot
▼ + stars: | 2023-01-18 | by ( Jesse Pound | ) www.cnbc.com time to read: +3 min

The renewed interest in fixed income comes after 2022 proving one of the worst years on record for fixed income investing, leading some to wonder whether the traditional portfolio of 60% stocks and 40% bonds may have outlived its usefulness. Surging interest in bonds is evident in fixed income ETFs, where cash has been pouring in during the first two weeks of the year. Last year, a record of $266 billion of cash flowed into fixed income ETFs, according to BlackRock. The iShares JP Morgan USD Emerging Markets bond ETF (EMB) also makes the top 10. For investors who are more cautious about the macroeconomic picture, there could still be solid returns in safer corners of the bond market.

☆ Trader Talk: More signs the market is slowly advancing
▼ + stars: | 2023-01-18 | by ( Bob Pisani | ) www.cnbc.com time to read: +1 min

I mentioned Tuesday that stocks were not in a bull market, but were heading in that direction. The most important indicator is broadening participation: more stocks advancing than declining. That, not surprisingly, is also when the S & P 500 put in its bear market bottom, on October 12th, at 3,577. The S & P 500 Equal Weight Index (RSP), an equal weighted-basket of the 500 stocks in the S & P 500, is up nearly 17% since then, while the S & P 500 is up only 11%. In an equal-weighted world, Apple and Microsoft are just another two stocks, instead of the more than 11% of the market cap-weighted S & P 500.

☆ Morgan Stanley upgrades consumer goods maker Church & Dwight, says now is a good time to buy
▼ + stars: | 2023-01-17 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

Now's the time to snap up shares of Church & Dwight as the consumer goods maker is set to gain after a dismal 2022, according to Morgan Stanley. The firm on Monday upgraded the stock to overweight from equal weight and boosted its price target to $91 from $82. But, the firm expects a "sharp fundamental turn in 2023 to above-consensus organic sales and GM results," Mohsenian wrote. Morgan Stanley now expects robust second-half organic sales growth of 6.4%, solidly outperforming 2022 and moving ahead of its peers. Morgan Stanley is lowering its earnings per share estimates to be more in-line with consensus, but wouldn't be surprised to see upside in the second half of the year.

☆ Bank of Japan could announce major policy shift this week as bond yields top limit again
▼ + stars: | 2023-01-16 | by ( Jihye Lee | ) www.cnbc.com time to read: +4 min

This picture taken on October 27, 2022 shows pedestrians walking in front of the Bank of Japan (BoJ) headquarters in Tokyo. The move would come less than a month after the Bank of Japan caught markets off guard by widening its tolerance range for 10-year Japanese government bond yields. Indeed, Nikkei reported Monday that the Bank of Japan purchased JGBs worth more than 2 trillion yen ($15.6 billion) after the nation's 10-year bond yield curve topped 0.5% for two consecutive sessions. While the central bank leaving interest rates unchanged would be positive for Japanese stocks, BofA said a removal of its yield curve control policy could lead to sharp declines. HSBC, meanwhile, expects the central bank to announce further widening of the yield curve control tolerance band instead of abolishing the policy altogether.

☆ Earnings playbook: Netflix and Goldman Sachs headline another big week of reports
▼ + stars: | 2023-01-16 | by ( Fred Imbert | ) www.cnbc.com time to read: +7 min

Tuesday Goldman Sachs is set to report earnings before the bell followed by a conference call between management and analysts at 9:30 a.m. Last quarter: Goldman reported earnings and revenue that beat analyst expectations, thanks to strong bond trading revenues . What history shows: Goldman earnings have beaten expectations 87% of the time, according to Bespoke. The fourth quarter earnings report out Thursday should see around 4.5 million subscribers, according to data from FactSet. What history shows: FactSet data shows Netflix has beaten earnings expectation for the last five quarters.

☆ The bold bullish case to be made for U.S. stocks — one that not many are voicing just yet
▼ + stars: | 2023-01-14 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

There's a bullish case on stocks that's not gained much traction yet. With another 4%-5% upside in the S & P 500 , the thesis would demand serious attention. A Fed pause? But this time, the S & P 500 had fallen 20% by the time the 10-to-2-year Treasury curve inverted, whereas in past cycles stocks were near a high. The S & P 500 probably needs to reach 4300 — up another 7.5% — to make a solid case for the bear market being over, says John Kolovos of Macro Risk Advisors.

☆ Here are Friday's biggest analyst calls: Tesla, Apple, Amazon, AMC, Netflix, Caterpillar & more
▼ + stars: | 2023-01-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Friday's biggest calls on Wall Street: Bank of America upgrades Caterpillar to buy from neutral Bank of America said in it sees a multiyear growth story for the industrial giant. Guggenheim downgrades Tesla to sell from neutral Guggenheim said numbers are too optimistic ahead of Tesla 's earnings later this month. Deutsche Bank downgrades Logitech to hold from buy Deutsche said it's concerned about weakening PC demand trends. Bank of America reiterates Alphabet as buy Bank of America said it's standing by its buy rating on the stock, but that it sees further headcount reductions this year. Bank of America names Netflix a top pick Bank of America said Netflix is one of the best positioned media company's for the permanent shift to streaming.

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