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Bad economic news so far has been mostly positive for the stock market, as investors worry over whether the Federal Reserve will start cutting interest rates. The greenback often rises on bad news as investors seek the safety of cash and equivalents, while the stock market gains on good news. .SPX .DXY line 2024-04-01 Stocks vs. the dollar At the same time, economic data has generally deteriorated, or at least not met Wall Street forecasts. For the most part, bad economic news likely could help convince the Fed that the time is right to start lowering interest rates. Based on the prior two months, the unemployment rate would have to rise to 4.3% in May for that to happen.
Persons: Ohsung Kwon, Kwon, Dow Jones, Claudia Sahm, BofA Organizations: Federal Reserve, Bank of America, Citi, Fed, Bureau of Labor Statistics, New Century Advisors
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed needs more 'confidence' that inflation will be moving sustainably lower: BofA's Mark CabanaMark Cabana, Bank of America Securities head of U.S. rates strategy, joins 'Squawk Box' to discuss the move in global bond yields, what it means for markets, the Fed's rate path outlook, and more.
Persons: Mark Cabana Mark Cabana Organizations: Bank of America Securities
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect bond yields to peak soon and roll over in second half of 2024, says BofA's Paul CianaPaul Ciana, Bank of America chief technical strategist, joins CNBC's 'The Exchange' to discuss the outlook for yields, how far yields could fall, and more.
Persons: BofA's Paul Ciana Paul Ciana Organizations: Bank of America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are entering an era where current smartphones without AI will look dumb, says BofA's Wamsi MohanWamsi Mohan, BofA Securities senior equity research analyst, joins 'Squawk on the Street' to discuss what to expect from Apple's next launch event, how the new technology will differ from what's currently available, and if Apple will charge more for its AI services.
Persons: BofA's Wamsi Mohan Wamsi Mohan Organizations: BofA Securities, Apple
As the price of gold hits new all-time highs and silver rallies to a multi-year high, Bank of America has identified four exchange-traded funds (ETFs) that offer attractive exposure to precious metals. The top-rated ETFs include abrdn Physical Silver Shares ETF (ticker SIVR), iShares Silver Trust (SLV), Invesco DB Precious Metals Fund (DBP) and abrdn Physical Precious Metals Basket Shares ETF (GLTR). Bank of America rated all four ETFs "more attractive" in comparison to other ETFs with similar assets. These funds reflect baskets of physical precious metals, with varying allocations to silver, gold, palladium, and platinum. abrdn Physical Silver Shares ETF SIVR is the cheapest silver fund in Bank of America's coverage, with a total expense ratio of 0.50%.
Persons: Jared Woodard, SLV, Michael Bloom Organizations: Bank of America, Precious Metals Fund, Bank of, Treasury, Bank, Precious Metals Locations: BofA
BofA's Geoff Meacham talks Eli Lilly closing at record high
  + stars: | 2024-05-21 | 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 EmailBofA's Geoff Meacham talks Eli Lilly closing at record highGeoff Meacham, BofA Securities managing director, joins 'Closing Bell Overtime' to talk Eli Lilly closing at a record high and what's driving it higher.
Persons: Geoff Meacham, Eli Lilly Organizations: BofA Securities
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEquities still have an upside from today's levels, says BofA's Jill Carey HallJill Carey Hall, Bank of America Global Research head of small and mid-cap strategy and senior U.S. equity strategist, joins 'Squawk Box' to discuss the strategist's thoughts on market performance, the firm's price target for the indices, and much more.
Persons: Jill Carey Organizations: Jill Carey Hall , Bank of America Global Research
BofA Securities has screened for 20 of Asia's "most important stocks," selected from the constituents of the MSCI Asia Pacific Index. Here are 10 stocks from the investment bank's list, which stand out for having substantial upside potential, according to FactSet's consensus price targets. This gives the stock upside potential of 42.0%. Analysts' target price on the stock is 103,211 Korean won ($76.61), or 32.0% potential upside, according to FactSet data. Their average target price is 233,378 Korean won, implying nearly 20.9% upside potential, FactSet data shows.
Persons: — CNBC's Michael Bloom Organizations: BofA Securities, MSCI, AIA Group, Hong, Samsung Electronics, SK Hynix, Korean Locations: Hong Kong, Korean
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCPI takes risk of rate hikes off the table but doesn't bring cuts any closer: BofA's Michael GapenMichael Gapen, Bank of America head of U.S. economics; John Porter, Newton Investment Management CIO and head of equities; and CNBC's Steve Liesman join 'The Exchange' to discuss April's CPI report, macro outlooks, and more.
Persons: BofA's Michael Gapen Michael Gapen, John Porter, Steve Liesman Organizations: CPI, Bank of America, Newton Investment Management
Stocks are vulnerable to a stagflation or hard landing rebound, says Bank of America's Michael Hartnett. AdvertisementStock markets face downturn risk if stagflation or recession anxiety re-materializes, Bank of America's top global strategist Michael Hartnett wrote on Tuesday. "Sentiment not at 'close-eyes-and-sell' levels but risk assets vulnerable to more evidence of stagflation," he noted in the bank's latest Global Fund Manager Survey. Although outlooks have since calmed, stagflation seemed like a growing possibility last month, when estimate-beating inflation data eclipsed shallow first-quarter GDP. Stagflation may have some part to play, as inflation remains the leading tail risk, while fears of an "economic hard landing" grew stronger.
Persons: America's Michael Hartnett, Hartnett, , Michael Hartnett, stagflation Organizations: America's, Service, materializes, Bank of America's, Global Fund, Survey, Japan Utilities, Federal Reserve Locations: China, Europe, Japan
Analysts think General Motors will emerge as a bright spot in an automobile industry challenged by a weakening electric vehicle market. But Wall Street firms including Citigroup and Bank of America now think General Motors can strengthen its position in EVs. GM TSLA YTD mountain General Motors stock has outpaced Tesla in 2024. The bank has a buy rating on General Motors with a $96 per share price target, implying 113% upside from Monday's $45.17 close. Murphy's $75 per share price target implies 66% upside over the next 12 months.
Persons: Tesla, Itay Michaeli, John Murphy, GM's, Murphy, Ryan Brinkman Organizations: EV, Elon, Citigroup, Bank of America, General Motors, GM, Wall, Citi, JPMorgan Locations: EVs
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Solus' Dan Greenhaus, Invesco's Kristina Hooper and BofA's Marci McGregorSolus' Dan Greenhaus, Invesco’s Kristina Hooper and BofA’s Marci McGregor, join 'Closing Bell' to discuss the market's resiliency, sector winners and their outlook.
Persons: Solus, Dan Greenhaus, Invesco's Kristina Hooper, BofA's Marci McGregor Solus, Invesco’s Kristina Hooper, BofA’s Marci McGregor
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe low-income consumer is still spending, says BofA's David TinsleyDavid Tinsley, senior economist at the Bank of America Institute, joins 'Power Lunch' to discuss the health of the consumer and their spending habits.
Persons: BofA's David Tinsley David Tinsley Organizations: Bank of America Institute
"That all really kind of plays right into Ollie's hands." Her $92 price target implies about 17%% upside from Monday's close. The average analyst has a buy rating and target for shares suggesting upside of more than 12%, according to LSEG. Ollie's shares are lagging the broader market in 2024 with a gain of almost 5% versus the S & P 500's 9% gain. OLLI 1Y mountain Ollie's shares over the past 12 months.
Persons: Anthony Chukumba, it's, Price, Melanie Nuñez, Ollie's, Nuñez, Chukumba, OLLI, Truist's Scot Ciccarelli, Ciccarelli, TJ Maxx, BofA's Nuñez, Chukumba's, FirstCash Organizations: Capital, Federal, Amazon, Walmart, Bank of America, Wall, Ross Locations: McDonald's, Harrisburg , Pennsylvania, Monday's, Ollie's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStarbucks has 'a branding issue' due to social media, says BofA's Sara SenatoreSara Senatore, Bank of America senior restaurant analyst, joins CNBC's 'The Exchange' to discuss the demand from former Starbucks CEO Howard Shultz for a company revamp, how the coffee chain can improve operations, and more.
Persons: BofA's Sara Senatore Sara Senatore, Howard Shultz Organizations: Bank of America
Stocks are in a "late secular bull market," BofA's Michael Hartnett said in a Friday research note. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe bull market that's pushed stock prices higher for the past year and a half will probably end in tears, Bank of America's Michael Hartnett warned. Equities are in a "late secular bull market" that likely "ends with [a] bubble and/or recession," the bank's chief investment strategist wrote in a Friday research note seen by Business Insider. Hartnett's bearish stance clashes with the view held by BofA's head of US equity and quantitative strategy, Savita Subramanian, who has predicted that stocks' bull market will last.
Persons: BofA's Michael Hartnett, , of America's Michael Hartnett, Hartnett's, Hartnett, Marko Kolanovic, BofA's, Savita Subramanian, stagflation Organizations: Service, of America's, Business, JPMorgan
Bank of America boosted Amazon's price target after earnings to $210, eyeing 17% upside from Wednesday's price levels. Amazon's Q2 guidance slightly fell short of Wall Street's expectations, but Bofa still sees upside ahead. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAmazon stock could soar as its latest earnings herald a "new era" of profits for the tech behemoth, according to Bank of America. On the guidance front, Amazon expects Q2 net sales to range between $144.0 billion and $149.0 billion, 2.5% below the estimated $150.21 billion.
Persons: Bofa, , Justin Post, BofA Organizations: of America, Service, Bank of America . Bank of America, Amazon
Stocks are edging closer to a "buy" signal, according to BofA's contrarian market indicator. AdvertisementA contrarian indicator in the stock market is edging closer to a "buy" signal, according to Bank of America. The bank's Sell Side Indicator, a contrarian stock market gauge that flashes a bullish signal when investor sentiment is bearish, and vice versa, is now closer to a "buy" signal than a "sell" signal, strategists said in a note on Wednesday. The lower reading is a bullish sign for stocks, as the indicator is now just 3.3 percentage points away from flashing a "buy" reading, strategists said. Advertisement"The SSI has been a reliable contrarian indicator - in other words, it has been bullish when Wall Street was extremely bearish, and vice versa," the bank wrote.
Persons: , Stagflation Organizations: Service, Bank of America, SSI
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBofA's Sara Senatore explains why she's still bullish on Starbucks after major earnings missSara Senatore, Bank of America, joins 'Fast Money' to share the bull case to Starbucks after the stock plummeted on disappointing earnings.
Persons: Sara Senatore, she's Organizations: Starbucks, Bank of America
The consumer overall is still healthy, says BofA's Ohsung Kwon
  + stars: | 2024-04-29 | 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 consumer overall is still healthy, says BofA's Ohsung KwonOhsung Kwon, BofA Securities Equity & Quant strategist, joins 'Closing Bell Overtime' to talk what to expect from the FOMC tomorrow, the case for dividend stocks and how the sector benefit from high rate environments.
Persons: BofA's Ohsung Kwon Ohsung Kwon Organizations: BofA Securities Equity
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFast food prices have been 'justified' in terms of underlying cost inflation: BofA's Sara SenatoreSara Senatore, BofA Securities senior analyst, joins 'Squawk Box' to discuss the rapid fast food inflation, whether rising prices will begin to hurt sales, and more.
Persons: Sara Senatore Sara Senatore Organizations: BofA Securities
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBofA's Savita Subramanian: More to the S&P 500 than just semiconductors and megacap tech companiesSavita Subramanian, BofA Securities head of U.S. equity and quantitative strategy, joins 'Squawk Box' to discuss the latest market trends, state of the economy, the Fed's interest rate outlook, and more.
Persons: Subramanian Organizations: BofA Securities
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBofA's Jill Carey Hall: We continue to favor small caps for the long-termJill Carey Hall, BofA Securities, and Brooke May, Evans May Wealth, join 'Closing Bell Overtime' to talk the day's market action.
Persons: Jill Carey, Jill Carey Hall, Brooke May, Evans Organizations: BofA Securities, Wealth
Bank of America says the ongoing "anything but bonds" bull market has led to a very top-heavy stock market. The firm is watching real 10-year yields and credit spreads for signals of when that AI-led rally could end. BofA says higher yields and tighter spreads could sound recession alarms and spur a stock sell-off. The key piece is the cohort of mega-cap tech companies that have long dominated stock-market performance, largely because of their affiliation with AI. In the meantime, if you subscribe to BofA's view, you should be watching the 10-year real yield for a signal of when any such downturn is coming.
Persons: BofA, , YCharts There's Organizations: of America, Service, Bank of America, Apple, Nvidia, Microsoft
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYou need an engineer at the top of Boeing's management team, says BofA's Ron EpsteinRon Epstein, Bank of America Securities research analyst, joins 'Squawk Box' to break down Boeing's quarterly earnings results, questions over the company's next management team, and more.
Persons: Ron Epstein Ron Epstein Organizations: Bank of America Securities
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