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☆ The credit crunch is getting worse and bankruptcies are on the rise
▼ + stars: | 2023-07-03 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

David Tesher: Before we were forecasting a short and shallow recession, but we no longer think there’s going to be a recession. Hard decisions are being made, and that’s going to feed back into corporate growth prospects. As economic conditions slow, credit is becoming tighter and companies are defaulting at a faster pace than they have. So yes, some corporations are distressed, but this isn’t something affecting the entire market, which is what you’d associate with a broad credit crunch. Big Tech is back with a vengeanceLast year was rough for tech companies: Tech stocks fell more than 30% in 2022, while the overall market dropped 20%.

Persons: Banks, Bell, David Tesher, we’re, We’re, There’s, reevaluation, it’s, Meta, Wedbush’s Daniel Ives, Liz Ann Sonders, Charles Schwab, ”, Megan Horneman, Matt Egan, John LaForge Organizations: CNN Business, Bell, CNN, P, Big Tech, Tech, Apple, Nvidia, Microsoft, Verdence Capital Advisors, Nasdaq, Dow Jones, AAA, That’s, US Energy Information Administration, Wells, Investment Institute

☆ Fourth of July gas prices take almost unprecedented plunge
▼ + stars: | 2023-06-30 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

During the week ending June 26, the average gas price was $3.57 a gallon, according to the US Energy Information Administration. Although pump prices have retreated from last year’s record highs, gas prices were cheaper in the summer of 2021 and certainly in 2020 when Covid-19 shut down large swaths of the economy. Pump prices plunge in Ohio, CaliforniaStill, over the past 12 months, gas prices are down in all 50 states, according to AAA. Washington recently replaced California with the unwanted distinction of having America’s most expensive gas prices. Why gas prices are downThe tumble in gas prices is an undeniable positive for consumers.

Persons: John LaForge, ”, Patrick De Haan, De Haan, “, ” Wells Fargo’s LaForge, LaForge, Wagner, Vladimir Putin’s, GasBuddy’s De Haan Organizations: New, New York CNN, AAA, That’s, US Energy Information Administration, Wells, Investment Institute, Drivers Locations: New York, Covid, Ohio , California, Indiana, Ohio, California, Illinois, Washington, Ukraine, Russia

☆ Play defense and load up on quality stocks because a recession is coming, Wells Fargo strategist says
▼ + stars: | 2023-06-29 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +2 min

Investors should target high-quality stocks with a recession coming, according to a Wells Fargo strategist. "Move into larger cap, higher quality US equities – we like the energy, materials and healthcare sectors," Sameer Samana told Yahoo Finance. "Move into larger-cap, higher-quality US equities," Samana, senior global market strategist at the Wells Fargo Investment Institute, told Yahoo Finance. "We like the energy, materials and healthcare sectors." But Samana cautioned against loading up on mega-cap tech stocks only without diversifying into other sectors, likening the AI buzz to the dot-com boom in the late 1990s.

Persons: Sameer Samana, —, fretting, Samana, Price Organizations: Yahoo Finance, Service, Wells, Investment Institute, Federal Reserve Locations: Wells, Samana

☆ Wall St Week Ahead Lofty valuations on US stocks a growing worry for investors
▼ + stars: | 2023-06-23 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +4 min

The S&P 500 now trades at 19 times its expected 12-months earnings, well above its historic average of 15.6 times, Refinitiv Datastream showed. WFII recently downgraded the technology sector, which has led this year's S&P 500 rally, to "neutral" from "favorable," citing "unattractive" valuations. Goldman urged investors to consider "downside protection" to their stock portfolios, though they expect the S&P 500 to reach 4,500 by year-end, or about 3.5% above current levels. Valuations are even more stretched for the Nasdaq 100 (.NDX), whose 36% rally this year has dwarfed that of the S&P 500. "From a near-term perspective, investors should expect stocks to just cool a little bit."

Persons: Refinitiv Datastream, Goldman Sachs, Sameer Samana, WFII, Goldman, Refinitiv, Michael Purves, Purves, Anthony Saglimbene, Lewis Krauskopf, Ira Iosebashvili, Richard Chang Organizations: YORK, Wells, Wells Fargo Investment Institute, Federal Reserve, Nasdaq, Tallbacken Capital, Deutsche Bank, Ameriprise, Thomson Locations: Wells Fargo

☆ Recession obsession, AI boom and wild markets: What Wall Street can expect for the rest of 2023
▼ + stars: | 2023-06-22 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

So what does the rest of the year have in store for Wall Street? Unfortunately, Wall Street is unlikely to receive the clarity it seeks anytime soon. Still, economists at the Federal Reserve believe that a recession seems more likely by the end of 2023 than not. AI boom: Wall Street has a lot to worry about, but there’s at least one source of market euphoria: artificial intelligence. Satisfying your sweet tooth is about to get more expensiveIf you have a sweet tooth, take note: Cocoa prices have been soaring — and that could drive chocolate prices higher.

Persons: it’s, Rachel, Ross, Mulder, Scully, Sam, Diane, Vladimir, Estragon, Samuel Beckett’s, ”, Michael Arone, Matthew Bartolini, Darrell Cronk, “, Arif Husain, Rowe Price, Wells, Justin Thomson, Liz Ann Sonders, Charles Schwab, Samantha Delouya, It’s, Danielle Wiener, Bronner, El, Paul Organizations: CNN Business, Bell, New York CNN, Investors, State, Federal Reserve, JPMorgan, Wells, Investment Institute, Silicon Valley Bank, Signature Bank, First, State Street, JPMorgan Chase, ”, “, OceanGate Expeditions, Federal Aviation Administration, Virgin Galactic, SpaceX, Rabobank Locations: New York, Silicon, First Republic, Washington, Europe, Asia, United States, China

☆ The Fed has to do more to bring inflation down to its target, says Wells Fargo's Brian Rehling
▼ + stars: | 2023-06-15 | 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 Fed has to do more to bring inflation down to its target, says Wells Fargo's Brian RehlingBrian Rehling, head of global fixed income strategy at Wells Fargo Investment Institute, joins 'Squawk on the Street' to discuss inflation being driven by consumer spending, market enthusiasm about A.I., and increased yield curve inversion.

Persons: Wells, Brian Rehling Brian Rehling Organizations: Wells, Wells Fargo Investment Institute Locations: Wells Fargo

☆ 'Don't chase this equity rally': Wells Fargo strategist has a warning for investors ahead of Fed meeting
▼ + stars: | 2023-06-12 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

There's a risk that stocks will go downhill from here, according to Wells Fargo's Paul Christopher, as he warned investors not to chase the current rally. "Even if the Fed stays on hold next week, we don't think the Fed stays on hold for very long — inflation is just too sticky." Christopher added that he does not believe the Fed will cut rates this year. History shows the S & P 500 doesn't bottom until, on average, six months after the first Fed rate cut, Christopher said. The rally has been a narrow-focused one, however, with gains driven by just a few major tech stocks.

Persons: Wells Fargo's Paul Christopher, Paul Christopher, he's, CNBC's, Christopher Organizations: Wells, Investment Institute, U.S . Federal, CNBC, Nasdaq, Treasury Locations: U.S

☆ When Will Gas Prices Go Down?
▼ + stars: | 2023-06-10 | by ( ) www.wsj.com time to read: +10 min

Gas price outlook for 2023When you venture out during the summer travel season, expect gas prices to remain steady through September—mostly due to overseas economic pressures. “When per-barrel prices go up, gas prices go up. By that time, the EIA estimates gas prices will drop to roughly $3.09 per gallon—a near-50-cent price break from today’s prices. Other factors affecting gas pricesWhile supply and demand are the leading factors that dictate oil and gas prices, they aren’t the only players. The Google Maps app also has a gas pump icon under the main search bar that will highlight local gas prices.

Persons: ”, Stuart Katz, Robertson Stephens, “, we’ve, John LaForge, Barack Obama, Biden, Katz, — you’ll Organizations: U.S . Energy Information Administration, Organization of, Petroleum, Energy, Wells, Wells Fargo Investment Institute, Strategic Petroleum Reserve, Bush, Hurricane, International Energy Agency, Treasury Department, State Tax Gas, of, PayPal, Google, Gas, Shell, Exxon, Mobil, Consumer, Lexus, Ford, University of California Locations: Ukraine, Russia, China, Wells Fargo, Persian, West Coast, California, Arizona, Pennsylvania, Mississippi, Washington, Hawaii, Illinois, Alaska, New Jersey, Connecticut, Los Angeles

☆ How can we possibly be in a bull market now? Two letters: AI
▼ + stars: | 2023-06-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +4 min

That’s a strange place to find a bull market. After a horrible year for Big Tech in 2022, optimism has returned as ChatGPT has made AI the it-thing in Silicon Valley. That brought an end to the bear market that began in January 2022, since a 20% lift from recent lows is generally accepted as the definition of the start of a bull market. However, there is no exact definition — and the current market situation is a bit more nuanced than the typical bull market-bear market binary. The silver liningEntering a bull market lifts investor sentiment, which could propel upward momentum in markets.

Persons: ”, Sameer Samana, ChatGPT, Tesla, Matt Bartolini, It’s, Apple iPhones, Berkshire Hathaway, James Demmert, “, don’t Organizations: New, New York CNN, Wells, Wells Fargo Investment Institute, Big Tech, Investors, Apple, Nvidia, SPDR, Street Global Advisors, Meta, Google, Berkshire, Main, Research, Bank of America Locations: New York, United States, Europe, Wells Fargo, Silicon Valley, SPDR Americas, Meta, “

☆ It’s official. We’re in a bull market
▼ + stars: | 2023-06-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +5 min

The S&P 500 rallied Thursday to end the day in a bull market, marking a 20% surge since its most recent low, reached on October 12, 2022. Buoyed by gains in big technology stocks, the broad-based index closed at 4,293.93 and crossed the threshold that separates a bear market from a bull market — that’s investor-speak for a period of time marked by rising stock prices and optimism on Wall Street. “The key difference for us is that you tend to see bull markets coincide with economic expansions, not economic contractions.”Still, since the last bull market, we’ve had a war in Europe, a banking crisis and a debt crisis among other dramas. The duck marketThe current situation is a bit more nuanced than the bull market-bear market binary, said Kevin Gordon, senior investment strategist at Schwab. “Such narrowness is not what new bull markets are built on.”The bottom line: Investors should “avoid getting sucked into this as a new bull market,” said Samana.

Persons: bullish, ChatGPT, “ We’re, ” Sameer Samana, we’ve, ”, Kevin Gordon, Schwab, Lisa Shalett, they’ve, Sam Stovall, “ Organizations: New, New York CNN, Investors, Big Tech, Google, Apple, Nvidia, Federal, Wells, Wells Fargo Investment Institute, CNN, Tech, US, Morgan Stanley Wealth Management, Fed Locations: New York, Silicon Valley, Wells Fargo, Europe, Samana

☆ They said we were getting a recession. Instead, we’re getting a bull market
▼ + stars: | 2023-06-07 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

A recipe for a bull market, apparently. “The key difference for us is that you tend to see bull markets coincide with economic expansions, not economic contractions.”Still, since the last bull market, we’ve had a pandemic, a war in Europe, a banking crisis and a debt crisis among other dramas. “Such narrowness is not what new bull markets are built on.”The bottom line: Investors should “avoid getting sucked into this as a new bull market,” said Samana. A nationwide UPS strike would be the largest work stoppage in US history, reports my colleague Vanessa Yurkevich. US Bankruptcies reach highest level in 13 yearsChapter 11 filings in the US have reached their highest levels since the end of the Great Recession, according to new data from S&P Global Market Intelligence..

Persons: “ We’re, ” Sameer Samana, we’ve, ”, Kevin Gordon, Charles Schwab, Lisa Shalett, they’ve, Vanessa Yurkevich, We’ve, Fred Zuckerman, pare Organizations: CNN Business, Bell, New York CNN, Federal, Wells, Wells Fargo Investment Institute, CNN, Tech, Nvidia, US, Morgan Stanley Wealth Management, UPS, Teamsters, –, Brotherhood of Teamsters, 1st, “, ”, P Global Market Intelligence, Bed, P, Retail, City Locations: New York, Wells Fargo, Europe, Samana, America

☆ Economy faces headwinds leading into possible recession, says Wells Fargo's Scott Wren
▼ + stars: | 2023-06-06 | 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 EmailEconomy faces headwinds leading into possible recession, says Wells Fargo's Scott WrenScott Wren, Wells Fargo Investment Institute senior global market strategist, joins 'Closing Bell Overtime' to discuss the state of the stock market, where investors should be putting their money, and the Federal Reserve's next moves.

Persons: Wells Fargo's Scott Wren Scott Wren Organizations: Fargo Investment Institute, Federal Locations: Fargo

☆ Watch CNBC's full interview with Wells Fargo's Scott Wren
▼ + stars: | 2023-06-06 | 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 Wells Fargo's Scott WrenScott Wren, Wells Fargo Investment Institute senior global market strategist, joins 'Closing Bell Overtime' to discuss the state of the stock market, where investors should be putting their money, and the Federal Reserve's next moves.

Persons: Wells Fargo's Scott Wren Scott Wren Organizations: Fargo Investment Institute, Federal Locations: Fargo

☆ Analysis: US debt ceiling deal could stall safety flight fueling megacap rally
▼ + stars: | 2023-05-19 | by ( David Randall | ) www.reuters.com time to read: +5 min

Their rally has been responsible for all of the 8.3% year-to-date gain in the S&P 500 (.SPX) through Wednesday's close, a Deutsche Bank report showed. A recent survey of global fund managers from BofA Global Research showed that 71% believe a deal to raise the debt ceiling will be reached before the X-date. Excitement over artificial intelligence, which has boosted some megacap names this year, is another factor that could support the category. At the same time, the debt ceiling has been only one of of several worries weighing on the market. Paul Christopher, head of global market strategy at Wells Fargo Investment Institute, expects lawmakers will reach an agreement to extend the debt ceiling through September.

☆ Wall St Week Ahead Amid banking woes, faltering US small-caps offer ominous economic sign
▼ + stars: | 2023-05-14 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

NEW YORK, May 12 (Reuters) - A U.S. stocks rally is leaving behind smaller companies, a sign that investors may be bracing for economic turmoil ahead. "Typically in a recession, small caps underperform." Last month it downgraded its view on U.S. small caps from "unfavorable" to "most unfavorable." Some investors are more upbeat about the outlook for small caps, particularly when looking beyond the next several months. One reason is that small caps, being sensitive to economic fluctuations, tend to shine early in a market recovery.

☆ Retiring soon? Here's how to invest in a choppy market, according to the pros
▼ + stars: | 2023-05-09 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

So how should one invest, bearing in mind a shorter investing horizon for retirees and their need to have some savings? Go for short-term bonds Short-duration Treasurys still offer attractive yields, according to Austin Graff, chief investment officer at Opal Invest. Investors flocked to short-term Treasurys late last year amid higher rates, and yields jumped. "The idea of allocation a third of the investors' portfolio in equity is to benefit from higher capital growth." These types of investments can also provide those same benefits throughout the long-term retirement time horizon," she said.

☆ Wells Fargo: We're in the early stages of a commodity bull market super-cycle
▼ + stars: | 2023-05-09 | 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 EmailWells Fargo: We're in the early stages of a commodity bull market super-cycleJohn LaForge, head of real asset strategy at Wells Fargo Investment Institute, discusses why commodities ranging from energy to metals and agriculture, are in a new bull market cycle, with plenty of more room and years of upside ahead.

☆ Jobs report: US labor market heats back up, adding 253,000 jobs in April
▼ + stars: | 2023-05-05 | by ( Alicia Wallace | ) edition.cnn.com time to read: +1 min

Minneapolis CNN —The labor market heated back up in April as employers added 253,000 jobs, according to data released Friday by the Bureau of Labor Statistics. It’s a surprising increase at a time when many indicators were pointing to a slowdown in the job market. The unemployment rate fell to 3.4% from 3.5%. Only three economists of the 87 polled by Refinitiv had projected job growth near or above 253,000. In March, the monthly and annual measures of wage gains in the private sector was up 0.3% and 4.3%, respectively.

☆ US March CPI comes in on the cool side
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +5 min

Year to date, the CPI increased 5.0%, the smallest 12-month gain since May 2021. "The data was a little bit better than what was expected, so that tells me that the bond market is saying that the probability of this next rate hike has decreased just a little bit." "The other number that's important is the PPI number that comes out this week. That will probably change a little bit today as people digest this data, maybe even within the next half an hour or so." It weakens the argument for a pause.”“Futures are going up based on the topline number, that’s what markets are focusing on.”“Inflation is cooling down.

Two-year yields have risen from a seven-month intraday low of 3.555% last Friday as Treasuries rallied on safe-haven buying. "Some of the banks there were in the spotlight, their stock prices are starting to at least stabilize," said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute in Charlotte, North Carolina. The U.S. regional KBW bank index (.BKX) has tumbled about 25% this month, but has gained about 3.8% this week as tensions eased. Worries over inflation have prompted investors to reassess their expectations for monetary policy from a number of major central banks, including the Fed and European Central Bank. Oil edged lower in choppy trading as investors looked to pocket profits from two straight days of gains, and as markets debated supply tightness.

☆ Watch CNBC's full interview with Wells Fargo's Paul Christopher
▼ + stars: | 2023-03-29 | 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 EmailWatch CNBC's full interview with Wells Fargo's Paul ChristopherPaul Christopher, head of global impact strategy at Wells Fargo Investment Institute, joins 'The Exchange' to discuss downside risks ahead, downtrend signs in inflation, and global tech companies making gains off a weaker dollar.

☆ Quality characteristics in tech remain relevant for investors, says Wells Fargo's Paul Christopher
▼ + stars: | 2023-03-29 | 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 EmailQuality characteristics in tech remain relevant for investors, says Wells Fargo's Paul ChristopherPaul Christopher, head of global impact strategy at Wells Fargo Investment Institute, joins 'The Exchange' to discuss downside risks ahead, downtrend signs in inflation, and global tech companies making gains off a weaker dollar.

☆ Investors share strategies to beat interest rate fears — including one that trumped the 60/40 model
▼ + stars: | 2023-03-09 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Markets are jittery now that fears that interest rates will stay higher for longer have been reignited . These are BlackRock's recommendations: Short-duration fixed income: iShares 0-3 Month Treasury Bond ETF, iShares Short Treasury Bond ETF, and iShares Treasury Floating Rate Bond ETF. Longer-duration fixed income: iShares TIPS Bond ETF, iShares Core U.S. Aggregate Bond ETF and iShares MBS ETF. "While we do not suggest investors abandon stocks all together, in a "higher for longer" environment, we believe investors should gravitate towards value-style stocks," Chaudhuri said.

☆ S&P 500 index seen climbing 5% by end of 2023: Reuters poll
▼ + stars: | 2023-02-22 | by ( Sinéad Carew | ) www.reuters.com time to read: +3 min

The S&P 500 was expected to end 2023 at 4,200 points, which would amount to a 9.4% increase for the calendar year, according to the median forecast of 42 strategists polled by Reuters. After falling 19.4% in 2022, the S&P 500 index is up 4.1% for the year so far. S&P valuations have fallen but still above 20-year averageAs of Feb. 17, Wall Street's expectation for S&P earnings growth for 2023 has fallen to 1.6% from an expected 4.4% on Jan. 1, according to Refinitiv. But while Sandven's year-end S&P 500 target doesn't depend on interest rate cuts he said "it does depend on moderating inflation and improved earnings visibility". Strategists had expected the Dow to end 2023 at 36,500, according to a November poll.

☆ S&P 500 index seen climbing 5% by end of 2023
▼ + stars: | 2023-02-22 | by ( Sinéad Carew | ) www.reuters.com time to read: +3 min

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