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US home prices continued to lose momentum in November
  + stars: | 2023-01-31 | by ( Anna Bahney | ) edition.cnn.com   time to read: +1 min
All 20 cities reported lower price increases in the year ending November 2022 compared to the year ending October 2022. Month-over-month declines continued in November, with all 20 cities reporting declines before seasonal adjustments. After seasonal adjustments, 19 cities still reported declines, with only Detroit increasing 0.1%. Last July marked the first month-over-month decrease for the national index since February 2012 and that continued through November, with seasonally adjusted prices falling 0.3% month over month. “Given these prospects for a challenging macroeconomic environment, home prices may well continue to weaken,” he said.
Earnings : More than 20% of the S & P 500 will report this week; by next Friday, 50% of the S & P will have reported. Craig Johnson at PiperSandler noted that 66% of all S & P 500 stocks are above their 200-day moving averages. It's not just the big-cap S & P 500 that is advancing: So are small-caps. The S & P High-Beta ETF is up 16% this month, at its highest levels since April of 2022. If that holds, it's the first positive January for the S & P 500 since 2019, when it was up 7.9%.
Three Stock Lunch: American Express, Chewy and Intel
  + stars: | 2023-01-27 | 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 EmailThree Stock Lunch: American Express, Chewy and IntelCraig Johnson, chief market technician at Piper Sandler, joins 'Power Lunch' to discuss Q4 earnings reports moving stock prices with a focus on American Express, Chewy, and Intel.
It's the surest sign yet of a crisis facing the retail industry. Supply chains got snarled, shoppers stopped visiting stores, and stimulus payments spiked demand, each making it difficult to measure how business was doing. Then stimulus payments sent demand for everything from sneakers to home goods spiking while supply chains snarled. And just when supply chains started to sort themselves out, inflation hit, and shoppers started to scale back spending. Retail CEOs need 'peripheral vision'Workers at Starbucks stores and Amazon warehouses across the country have pushed to unionize, with many calling out the pay disparity between front-line workers and top executives.
Jelinek told the Seattle Times that while he was holding down a part-time job with FedMart, his dad said something that ended up encouraging him to stick with retail. People will always have to eat,'" Jelinek told the paper. You always know there's going to be work." Costco CEO Craig Jelinek in 2019. Nati Harnik/APSource: Mass Market Retailers via Lexis Nexis
Three-Stock Lunch: TSLA, V & ROK
  + stars: | 2023-01-13 | 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 EmailThree-Stock Lunch: TSLA, V & ROKCraig Johnson of Piper Sandler joins 'Power Lunch' to discuss three stocks he's watching now: Tesla, Visa and Rockwell Automation.
Three-Stock Lunch: Rockwell Automation, EOG Resources and Micron
  + stars: | 2022-12-30 | 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 EmailThree-Stock Lunch: Rockwell Automation, EOG Resources and MicronCraig Johnson, Piper Sandler chief market technician, joins 'Power Lunch' to discuss Johnson's investing take on three stocks: Rockwell Automation, EOG Resources and Micron.
Most American shoppers say they are willing to pay more for their retail club memberships — a sentiment that bodes well for Investing Club holding Costco (COST). As a result of the survey findings, Evercore favors Costco for a planned fee increase and the potential for a special dividend sometime next year. Costco's last membership price hike was in June 2017, when the wholesale retailer increased its standard membership fee from $55 to $60 and its Executive membership from $110 to $120. Historically, Costco has increased its membership fee every five years, an anniversary that passed a few months ago. Another potential catalyst for Costco stock is the company's likely decision to issue a special dividend, which Evercore thinks could happen in 2023.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe consumer is not dead, but they are more cautious, says Jim Cramer'Mad Money' host Jim Cramer and the 'Squawk on the Street' team react to recent comments from Costco CEO Craig Jelinek about the health of the U.S. consumer amid the busy holiday shopping season.
Watch CNBC's full interview with Costco CEO Craig Jelinek
  + stars: | 2022-12-19 | 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 EmailWatch CNBC's full interview with Costco CEO Craig JelinekCostco CEO Craig Jelinek joins CNBC's 'Squawk on the Street' to discuss the hot things in Costco for Christmas and more. "Overall, it's probably not one of the most exciting Christmases I have ever dealt with," Jelinek tells CNBC.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCostco CEO: Kirkland Signature brand is one of our real strengths in the companyCostco CEO Craig Jelinek joins CNBC's 'Squawk on the Street' to discuss the hot things in Costco for Christmas and more.
Craig Jelinek, chief executive officer of Club holding Costco (COST), said Monday he sees a more-vigilant consumer this holiday shopping season and potentially beyond. Consumer behavior Jelinek highlighted a number of stronger areas for Costco, including its Kirkland-branded products across a number of categories. "Our food [and] sundry business, our fresh business, our travel business, continues to be strong," Jelinek added. Looking ahead to next year, Jelinek said Costco is taking stock of the economic uncertainty and factoring that into its merchandising plans. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJohnson: From here to year-end, the markets will see a Santa Claus rallyCraig Johnson, Chief Market Technician at Piper Sandler, joins Worldwide Exchange to discuss the market sell-off.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDefensive tech names are expected to prosper further, says Piper Sandler's Craig JohnsonCraig Johnson, Piper Sandler chief market technician, joins 'Power Lunch' to discuss methods for chart tracking, cash going to options trading and money market funds and the likelihood of a year-end rally.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJohnson: Though the markets are pretty strong, the pain trade is higherCraig Johnson, Chief Market Technician at Piper Sandler, joins Worldwide Exchange to discuss how investors are playing the markets.
At the Investing Club, we generally try to keep our portfolio to around 30 stocks, give or take a few. In light of Thursday's "Monthly Meeting," we wanted to identify what we consider our 10 core holdings of the 32. We may consider a stock a core holding today but that could change three months from now. Management sees its post-separation core business growing revenues at a high single-digit clip and earnings-per-share increasing in the double digits. The stock provides a stellar dividend yield of nearly 3.5%, and the bank has plenty of excess capital to repurchase stock quarter after quarter, while other banks have paused their buybacks.
Sam's Club just reduced the price of its hot dog and soda combo to $1.38. Sam's Club recently raised membership prices, but still remains less expensive than Costco. Sam's Club's hot dog is famously in competition with Costco's version of the deal, still priced at $1.50. The chicken bake increased by $1, and the soda cost increased by 10 cents, although it did not impact the price of the hot dog and soda combo. The updated hot dog and soda price is already displayed online on Sam's Club's website.
Three-Stock Lunch: AMD, HAS & TEVA
  + stars: | 2022-11-14 | 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 EmailThree-Stock Lunch: AMD, HAS & TEVACraig Johnson, chief market technician at Piper Sandler, joins 'Power Lunch' to offer his picks for today's three-stock lunch, looking at the technicals of Advanced Micro, Hasbro and Teva Pharmaceuticals.
SYDNEY, Nov 1 (Reuters) - Australia's central bank on Tuesday stuck with a slower pace of interest rate rises for a second month while revising up its inflation outlook, saying more rate hikes would be needed as it struggles to keep the economy afloat while battling inflation. Reuters Graphics"The Reserve Bank has indicated a preference for 'normal' 25 basis point rate hikes," said Craig James, chief economist at CommSec. CLOUDY OUTLOOKThe RBA was the first central bank among developed nations to break with outsized interest rate hikes, warning that households were already under pressure with rate rises so far. The Bank of Canada slowed its pace of rate hikes, saying it was getting closer to the end of its historic tightening campaign. The European Central Bank, while hiking rates as expected, sounded a cautious note on the outlook.
It's official: home prices in the US are in a downward trend on a national level. This is killing buyers' ability to afford higher prices. Housing affordability — when taking into account home prices, mortgage rates, and incomes — is now at one of its lowest levels in decades, according to data from the National Association of Realtors. Scott Buchta, the head of fixed income strategy at Brean Capital, also said in a memo on Wednesday that home price declines would continue, eventually falling on a year-over-year basis. Many see a so-called "Fed pivot" back to dovish policy as necessary for mortgage rates to fall.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJohnson: Depressed levels of market breadth indicate the potential for a relief rally soonCraig Johnson, Chief Market Technician at Piper Sandler, joins Worldwide Exchange to discuss his target for the S&P 500 in the last 60 trading days of the year.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis market is incredibly oversold, says Piper Sandler's Craig JohnsonCraig Johnson, chief market technician at Piper Sandler, joins 'Power Lunch' to discuss three stocks that have been especially volatile this past week: MRNA, WBA, and LRCX.
The CNBC CFO Council survey is a sample of the current outlook among top financial officers. More than a quarter of the CFOs say inflation is the biggest external risk factor facing their businesses. With persistent inflation, CFOs have shifted their view regarding the timing of a recession as a result of the Fed's rate hikes. Nineteen percent of CFOs now say they expect a recession in the fourth quarter of this year, up from 13% in Q2. The CNBC survey finds companies still in hiring mode, with 57% of CFOs saying they expect to add to headcount in the next year.
U.S. home prices cooled in July at the fastest rate in the history of the S&P CoreLogic Case-Shiller Index, according to a new report out Tuesday. Home prices in July were still higher than they were a year ago, but cooled significantly from June gains. Prices nationally rose 15.8% over July 2021, well below the 18.1% gain in the previous month, according to the report. "The -2.3% difference between those two monthly rates of gain is the largest deceleration in the history of the index." Home prices are dropping because affordability has weakened dramatically due to fast-rising mortgage rates.
But the market showed signs of cooling as rising mortgage rates pushed more prospective buyers to the sidelines. On a monthly basis, prices fell 0.2% from June, the first month-over-month decrease for the national index since February 2012. Tampa notched the biggest gains, with home prices rising 31.8% in July from the year before. Higher mortgage rates cooled demandThe home price reports highlight the cooling effect of rising mortgage rates. As investors see or anticipate rate hikes, they often sell government bonds, which sends yields higher and mortgage rates rise.
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