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New York CNN —Stocks are soaring this year, but that could soon change as election chaos takes the market on a rollercoaster ride. But this has been a destabilizing week for US stocks and the market trajectory could be shifting. The Dow was down more than 430 points, or 1%, in the morning trading session on Friday as the tech outage continued to rattle investors. Former President Donald Trump, meanwhile, said in an interview with Bloomberg that Taiwan should pay for its own defense. The bright sideInvestors have been largely resilient this year and some financial bigwigs say the election won’t change that.
Persons: Donald Trump, Joe Biden, Dow, , , , Jim Reid, Biden, they’re, Scott Wren, Wells, Jerome Powell, Liz Young Thomas, Russell, Young Thomas, ” Trump, CrowdStrike, JPMorgan Chase, Jeremy Barnum, isn’t Organizations: New, New York CNN, Investors, Big Tech, Nasdaq, Deutsche Bank, Democratic, , Treasury, Fed, Tech, Bloomberg, Taiwan Semiconductor Manufacturing, Nvidia, Microsoft, Meta, JPMorgan Locations: New York, Iran, Israel, Wells Fargo, , China, Taiwan
A trader works on the floor at the New York Stock Exchange on July 3, 2024. "NYSE markets are fully operational and we expect a normal open this morning," a spokesperson for the exchange said Friday. There were other issues, though: Russell US Indexes, which include the closely watched Russell 2000 small-cap gauge, were not calculating after the market open. "This disruption is affecting FTSE Russell real-time indices. Though the Russell indexes weren't updating on digital platforms, the various indexes were being calculated without interruption.
Persons: Russell, Gregory Falco Organizations: New York Stock Exchange, Nasdaq, NYSE, Russell, Cornell University cybersecurity
As the 2024 market rally broadens out, some small-cap stocks are poised to do better than others. But with interest rate cuts on the horizon, the prospects for small-cap stocks have improved in recent weeks. The Russell 2000 small-cap index has already risen more than 6% in July alone. Against that backdrop, CNBC Pro screened for the small-cap stocks that could be poised for a boost. "We believe near-term expectations are reasonable, and given the stock's negative sentiment and recent market volatility, we decided to move to the sidelines," wrote analyst Chris O'Cull.
Persons: Russell, tickers, Stifel, Chris O'Cull, Logan Reich, Reich, Shutterstock, Nick Wells Organizations: Nvidia, CNBC Pro, Papa John's, RBC Capital Markets, Canadian, Janus International, MGP
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
Portfolio manager Chad Morganlander named a raft of sector and stock plays for investors right now, and revealed he was bullish on small-cap names. Besides small-cap stocks, Morganlander also likes "large cap value stocks." Value stocks are often cheaper than so-called growth stocks and typically trade at a lower price than what the company's performance indicates. Stocks to play Morganlander believes several sectors and stocks make good plays for investors right now. From the health-care sector, the portfolio manager is also bullish on United Health , as he says its PE multiple of around 17 times gives it "competitive positioning."
Persons: Chad Morganlander, Russell, Morganlander, CNBC's, Stocks Organizations: Crossing Advisors, Nasdaq, Union, Union Pacific, United Health, Microsoft, Big Tech Locations: U.S, Union Pacific
New York CNN —US stocks sold off broadly Thursday as Wall Street continued to shed tech stocks. The Dow fell 464 points, or 1.1%, retreating from a record high reached a day ago. Investors have this week moved out of the Magnificent Seven tech stocks that powered the market to repeated record highs this year. Shares of smaller companies that tend to do well in a lower-rate environment began rallying last week, helping the Dow reach fresh highs. Tech stocks also took a hit this week after Bloomberg reported Tuesday that the Biden administration is mulling plans to impose more sanctions on Chinese tech firms and to heighten semiconductor trade restrictions between the US and China.
Persons: Dow, , Louis Navellier, Russell, Tesla, Biden Organizations: New, New York CNN, Nasdaq, Wednesday . Energy, Navellier, Associates, Federal Reserve, Dow, Nvidia, Microsoft, Meta, Tech, Bloomberg Locations: New York, China
Major stock indexes were down sharply for a second day on Thursday. A mega-cap retreat expanded into a broader rout, and the S&P 500 fell over 1%. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS indexes declined sharply for a second session this week, as the plunge in leading tech stocks broadened out to the rest of the market.
Persons: , Russell Organizations: Service, Google, Nvidia, Bloomberg, Federal Locations: China, Here's
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
Investors are flocking to small-cap stocks right now, driving this segment of the market to new highs this week. He also noted that the Russell 2000 is outperforming the S & P 500 by the widest margin since November 2021. But according to him, one group of small-cap stocks could do well if rates were to stay higher for longer: regional banks. However, Turnquist cautioned that small-cap growth stocks would find the outlook tougher than small-cap value stocks, as they are more sensitive to economic health. How to play small-caps Investors who have been making a play for small-caps include billionaire Stanley Druckenmiller , who revealed a big bullish position in small-cap stocks last quarter.
Persons: Russell, Adam Turnquist, Turnquist, we've, There's, Trump, Kelvin Wong, Donald Trump, Wong, Stanley Druckenmiller, FactSet, David Dietze, Dietze, Jay Hatfield, Kilroy, Jefferies, Hatfield, , Yun Li Organizations: CNBC, LPL, U.S . Federal, Federal Reserve, Citi, Wealth Management, CNBC Pro, Corp, Jefferies Locations: U.S, America
A week ago, investors were scoffing at the idea that small caps and value stocks might have a genuine summer rally. The S & P 500 Value ETF (IVE) , which holds stocks like Berkshire Hathaway , JP Morgan , Exxon Mobil and Johnson & Johnson , finally hit a new high after lagging the tech-dominated S & P 500 Growth ETF (IVW) for more than a year. This fund holds the entire stock market, minus the S & P 500. VXF 1M mountain Vanguard Extended Market ETF over the past month. This trend of buying small caps and value is clearly more than a one-day wonder: It's now a one-week wonder.
Persons: Berkshire Hathaway, JP Morgan, Johnson, Dave Nadig, Russell Organizations: Exxon Mobil, Johnson, Value, Opportunity Locations: Berkshire, United States
The broadening market rally has Bank of America forecasting further upside for the S & P 500 . Strategist Stephen Suttmeier estimates the broad market index will reach 6,150, which is 8.5% higher than Tuesday's close. Suttmeier said the S & P 500's broadening market rally participation supports more upside potential to the 6,150 level. In addition, the strategist said the number of S & P 500 stocks trading above their 50-day and 200-day moving averages has improved to indicate stabilizing market breadth. .SPX YTD mountain S & P 500 in 2024 Suttmeier believes the iShares Russell 2000 ETF , which tracks the benchmark small-cap index, can break out to as high as 260.
Persons: Stephen Suttmeier, Russell, Suttmeier, , Michael Bloom Organizations: Bank of America, NYSE, Dow Jones
Stanley Druckenmiller , still basking in his winning Nvidia bet, has hit another home run in this bull market. When Druckenmiller acquired the position in the first quarter, small caps were significantly underperforming their large-cap counterparts. Druckenmiller once managed George Soros' Quantum Fund and shot to fame after helping make a $10 billion bet against the British pound in 1992. After the stock soared from $150 to above $900, Druckenmiller slashed the stake. A lot of what we recognized has become recognized by the marketplace now," Druckenmiller said on CNBC at the time.
Persons: Stanley Druckenmiller, Druckenmiller, Russell, George Soros, bullish, We've Organizations: Nvidia, Duquesne Family Office, Investment, SEC, Quantum Fund, Duquesne Capital Management, CNBC
New York CNN —Tech shares slumped Wednesday as investors shed the behemoths that fueled Wall Street’s monster stock rally this year. The Nasdaq Composite index tumbled 2.8%, logging its worst day since December 2022. Investors are also selling tech stocks after a cool inflation report last week and stronger-than-expected retail sales data on Tuesday pushed up bets for a rate cut in September. The Magnificent Seven tech stocks, which have led most of the gains this year thanks to the artificial intelligence boom, tumbled. Microsoft (MSFT) shares fell 1.3%, Apple (AAPL) shares slid 2.5%, Amazon (AMZN) shares declined 2.6%, Alphabet shares declined 1.6%, Tesla shares slipped 3.1% and Meta Platforms shares lost 5.7%.
Persons: Biden, Russell Organizations: New, New York CNN — Tech, Dow, Nvidia, Devices, Bloomberg, US Commerce Department, Microsoft, Apple, Meta Locations: New York, China
In today's big story, Amazon wants to stop employees skirting in-office mandates by tracking their hours spent in the office . The big storyPunching the clockGetty Images; Jenny Chang-Rodriguez/BIAt Amazon, coffee is for closers people who spend at least 2 hours in the office. AdvertisementBusiness Insider's Eugene Kim has a report on Amazon monitoring the hours its corporate employees spend in the office . Amazon and its employees have been in an ongoing battle over its return-to-office mandate, which was first announced early last year. AdvertisementFor Amazon employees, the RTO mandates have been shrouded in mystery and confusion.
Persons: , you've, Jenny Chang, Rodriguez, Eugene Kim, it's, Eugene, they've, Justin Sullivan, Getty, Dell, Polly Thompson, Lizzie Reed, Goldman Sachs, Mark McQueen, Elizabeth Reed, Donald Trump's, Fundstrat's Tom Lee, Russell, Deena So'Oteh, Greg Warnock, Warnock, Elon Musk, Tesla, Stephen Pasterino, Rachel Katzman's, Jennifer Aniston, Johnson, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Denver Airport, Business, Amazon, Foods, Dell, Computer, Workers, Goldman, Walmart, Treasury, Netflix, SpaceX, Lone Star State, Northeast, BI, Olympic, United Airlines, Johnson Locations: it's, Corporate America, Utah, California, Texas, Paris, Seine, New York, London
U.S. stock futures inched higher Wednesday evening after the Nasdaq Composite 's worst session since 2022 amid investors' rotation out of big tech high-flyers. S&P 500 futures and Nasdaq 100 futures climbed 0.20% and 0.32%, respectively. The tech-heavy Nasdaq tumbled 2.8% in its worst day since December 2022, closing below 18,000 for the first time since July 1. "This is a market — a Fed pivot market — two, three months before we expect a cut, exactly as we'd expect to see it. "But the reality for the market is that we've already been in a soft landing for the next nine months.
Persons: Russell, Lauren Goodwin, Goodwin, Dow Jones, That's Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, Discover, Street Journal, Dow, New York Life Investments, Alaska Air, Netflix Locations: Pizza
Traders work on the floor of the New York Stock Exchange (NYSE) on July 11, 2024 in New York City. The Russell 2000 index , the benchmark for the group, hit its highest level since January 2022 on Monday. The iShares Russell 2000 ETF, which tracks the index, was up about 1% in premarket trading Tuesday. The ETF is up 9% over the last one month, nearly triple the gains in the S&P 500. Stock Chart Icon Stock chart icon Russell 2000Fundstrat's Tom Lee, who's been correctly calling the stock market for the past few years, said the rally in small caps could last for more than two months, seeing dramatic gains for this cohort.
Persons: Spencer Platt, Russell, Tom Lee, who's, Lee Organizations: New York Stock Exchange, Getty, Investment Locations: New York City
CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Record highThe Dow Jones Industrial Average closed at an all-time high after former President Donald Trump survived an assassination attempt. Trump's VP pickDonald Trump has chosen Senator JD Vance of Ohio as his vice presidential running mate for the 2024 election. Fed may not waitPowell said the central bank will not wait until inflation reaches its 2% target to cut interest rates. Fink believes bitcoin can offer uncorrelated returns and act as a hedge against currency debasement caused by excessive deficits.
Persons: Donald Trump, Russell, Jerome Powell, Trump's, JD Vance, Ohio, Trump, Vance, Biden, Powell, you've, Larry Fink, Fink, bitcoin, CNBC's, Goldman, Goldman Sachs, Denis Coleman, Colin Langan Organizations: CNBC, Dow Jones, Nasdaq, Treasury, Federal, Truth, Trump, Republican, BlackRock, Goldman, JPMorgan, Citigroup, Wall Locations: U.S, Wells
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Dow record highThe Dow Jones Industrial Average closed at an all-time high after former President Donald Trump survived an assassination attempt. Trump lauded at RNCFormer President Donald Trump was cheered and celebrated at the Republican National Convention in Milwaukee, his first appearance since an assassination attempt at a Pennsylvania rally. [PRO] 'Super 8'UBS has updated its "Super 8" list of top Asian tech stocks, seen as alternatives to the US "Magnificent Seven."
Persons: Donald Trump, Russell, Jerome Powell, Trump, JD Vance, Ohio, Elon Musk, Powell, you've, Larry Fink, Fink, bitcoin, CNBC's, Donald Trump's Organizations: CNBC, Dow, Dow Jones, Nasdaq, Treasury, Federal, RNC, Republican National Convention, Sporting, Trump, BlackRock, CSI, Nikkei, UBS Locations: U.S, Milwaukee, Pennsylvania, Asia, Pacific, China, Hong
The small-cap benchmark Russell 2000 jumped 2% on Tuesday, heading for its fifth straight winning day. Small-cap companies are especially sensitive to rate policy, as their financing costs rise when interest rates are high. Falling rates could be a boon for these names, said Kostin, Goldman's chief equity strategist, on CNBC's " Squawk on the Street ." In that period, the Russell 2000 Index has added more than 11%, compared with the S & P 500 's 4% advance. In 2024, the S & P 500 has surged more than 18%, while the Russell 2000 has added 10%.
Persons: Goldman Sachs, David Kostin, Jerome Powell, Russell Organizations: Russell, Federal
Oppenheimer views last week's rally in small-cap stocks as a potential catalyst for the wider market and its future returns. "The point is that last week's small-cap breakout marks a re-broadening of the bull that should carry bullish implications for all capitalizations." .RUT YTD mountain Performance in 2024 The comments from Wald came on the heels of last week's 6% surge in the Russell 2000 index of small caps. The iShares Russell 2000 ETF added as much as another 1.6% early in Monday's session. "In our view, this cycle's 'as good as it gets moment' has not yet been reached," Wald said.
Persons: Oppenheimer, Ari Wald, Wald, Russell Organizations: Federal Reserve, Viking Therapeutics, Zeta Global
A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., July 3, 2024. U.S. stock futures were slightly higher on Monday after the Dow Jones Industrial Average closed at a record high. The market also continued its rotation into small-cap stocks, with the Russell 2000 rising 1.8% during Monday's session. The Russell 2000 posted a 6% gain last week. Lee said that small-cap stocks look comparatively more oversold, with valuations even lower this time around.
Persons: Donald Trump, Russell, Tom Lee, Lee, Morgan Stanley, UnitedHealth, Charles Schwab Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Dow, Republican, GOP, Fundstrat Global Advisors, Bank of America Locations: New York City, U.S
The Russell 2000 gained 6% last week, its best week of the year, and looks poised to rally further on Monday. A cool consumer price index report last week was seen as a major catalyst for small caps, as it suggested interest rates could go lower. "Many investors view small caps as a potential 'Trump trade,' but the path for small cap outperformance is a narrow one," the note said. Kostin said that small caps outperformed after Trump's 2016 election, but that was when interest rates were much lower. The Goldman note was published before the attempted assassination of Trump on Saturday.
Persons: Donald Trump, Goldman Sachs, Russell, David Kostin, Joe Biden, PredictIt, Kostin, Trump, Goldman Organizations: Republican, Trump
Election risk: While a potential Trump presidency is sending shares of banks, oil and gas, and health insurance stocks higher, some groups face political risk. Shares of the Mexican beer maker are falling about 3% on concerns about tariffs and a tougher stance on immigration under a Trump presidency. Nextracker and Constellation are the two worst-performing Club stocks Monday. 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, Russell, Donald Trump, Trump, Morgan Stanley, We'll, Charles Schwab, Jim Cramer's, Jim Organizations: CNBC, Trump, , Microsoft, Constellation Brands, Management, Bank of America, PNC, UnitedHealth, Jim Cramer's Charitable Locations: U.S
CNBC Daily Open: Biden urges unity
  + stars: | 2024-07-15 | by ( Abid Ali | ) www.cnbc.com   time to read: +4 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Trump assassination attemptPresident Joe Biden addressed the nation from the White House, where he condemned all political violence and called for unity. [PRO] Gearing up for electionsWith the U.S. presidential election approaching and stock markets at all-time highs, professional investors are emphasizing portfolio diversification to mitigate risks. Despite a brief downturn due to a rotation out of mega-cap growth stocks, the markets rebounded, setting new records.
Persons: Trump, Joe Biden, Biden, Donald Trump, Thomas Matthew Crooks, CNBC's Evelyn Cheng, Russell, CNBC's Michael Santoli, Wiz, David Roche, Hong, Australia's, Korea's Kospi Organizations: CNBC, White, FBI, NBC, Dow, Dow Jones, Depot, Caterpillar, Big Tech, Nasdaq, Wiz, Wall Street Journal, Sequoia Capital, Insight Partners, Quantum, Trump, Republican, Senate, CSI, U.S Locations: Pennsylvania, Bethel Park , Pennsylvania, China, Israeli, Hong Kong Asia, Pacific
CNBC Daily Open: Trump assassination attempt
  + stars: | 2024-07-15 | by ( Abid Ali | ) www.cnbc.com   time to read: +4 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Trump assassination attemptThe attempted assassination of former President Donald Trump at a rally in Pennsylvania on Saturday left one attendee and the gunman dead, and two more attendees in critical condition. Trump was grazed by a bullet and treated at a local hospital, but released late Saturday night. Dimon inflation warningJPMorgan Chase CEO Jamie Dimon has warned that inflation and interest rates may remain high despite recent easing in price pressures.
Persons: Trump, Donald Trump, Thomas Matthew Crooks, Larry Hu, CNBC's Evelyn Cheng, Russell, CNBC's Michael Santoli, Wiz, Jamie Dimon, Dimon Organizations: CNBC, FBI, NBC, Macquarie, Communist Party of, Dow, Dow Jones, Depot, Caterpillar, Big Tech, Nasdaq, Wiz, Wall Street Journal, Sequoia Capital, Insight Partners, U.S Locations: Pennsylvania, Bethel Park, Pa, China's, Beijing, China, Communist Party of China, Israeli
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