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Search resuls for: "Matthew Fox"


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☆ Apple leads tech rout after Berkshire Hathaway sells more than half of its stake
  + stars: | 2024-08-05 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +2 min
Apple stock plunged as much as 11% on Monday on news that Berkshire Hathaway sold about 50% of its stake. Warren Buffett's conglomerate sold about 390 million Apple shares in the second quarter. The decline in Apple shares, which was double the Nasdaq 100's decline of about 5%, came after it was revealed over the weekend that Warren Buffett's Berkshire Hathaway sold about 50% of its Apple stake. According to its second-quarter earnings report, Berkshire Hathaway sold about 390 million Apple shares during the quarter, which is on top of the 115 million Apple shares it sold during the first quarter of the year. This is an opportunity, especially going into what I view as a really historic upgrade cycle for Apple," Ives said.
Persons: Berkshire Hathaway, Warren Buffett's, —, Warren, Buffett, Cathy Seifert, Dan Ives, Ives, It's Organizations: Apple, Berkshire, Service, CFRA, CNBC Locations: Berkshire, Cupertino
☆ Dow plunges more than 1,000 points as global stock rout deepens on recession fear
  + stars: | 2024-08-05 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +3 min
The stock market crashed Monday, with the Nasdaq 100 dropping nearly 6%. AdvertisementUS stocks crashed on Monday, with the Nasdaq shedding nearly 6% as the global market rout that kicked off late last week accelerated. AdvertisementThe losses accelerated on Monday after Japan's stock market experienced its worst decline since the Black Monday crash in 1987, falling 12%. Berkshire Hathaway now holds a record $277 billion in cash, leading to some investors worrying that Buffett has soured on the stock market. The bigger question is whether this bloodletting will prove sufficient to provide a basis for a resumption of the stock market rally, and ultimately fresh record highs.
Persons: —, nonfarm payrolls, Jamie Cox, Warren, Berkshire Hathaway, Buffett, bitcoin, David Morrison Organizations: Nasdaq, Berkshire Hathaway's Apple, Service, Dow Jones, Amazon, Intel, Bank of Japan, Federal Reserve, Harris Financial, Berkshire Hathaway's, Berkshire, FCA Locations: Berkshire
☆ Real estate values in Texas and Florida are being hit by violent weather as insurance costs spike
  + stars: | 2024-08-03 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +3 min
The rise in violent weather events over the past few years are driving a decline in real estate values in Texas, Florida, and Louisiana, according to a recent note from Capital Economics. Related storiesAccording to data from MSCI, insurance costs in Florida have more than doubled from less than 2% of income receivable in 2017 to 4.5% at the end of 2023. And those higher costs have ultimately helped drag down property values in impacted regions, especially in the multifamily sector. Capital EconomicsBut there has been a sign of hope in that the rate of growth in insurance costs appears to have peaked, according to Pattison. But she says the ongoing trend of violent weather could still exacerbate the issue in the future, further driving real estate values down in the most impacted regions.
Persons: Imogen Pattison, Beryl —, Karen Clark, they're, Pattison, CBRE Organizations: Service, Capital Economics, Business Locations: Texas , Florida, Louisiana, MSCI, Florida, multifamily, Florida , Texas
☆ Surging US unemployment has triggered a recession indicator with a perfect track record
  + stars: | 2024-08-02 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +3 min
Read previewA closely watched recession indicator flashed on Friday after a weak July jobs report showed an unexpected surge in the unemployment rate. The Sahm Rule, created by former Federal Reserve official Claudia Sahm, triggers when the unemployment rate's three-month moving average moves 50 basis points above its 12-month low. That rule was triggered on Friday, with the moving average rising 53 basis points above that one-year trough, according to the real-time Sahm Rule Recession Indicator from the St. Louis Federal Reserve. The only misfire for the rule was in 1959, but even then, a recession started just five months after the Sahm Rule flashed. But Sahm herself wrote in a Substack post last week that "the rise in the unemployment rate is not as ominous as it would normally seem."
Persons: —, Claudia Sahm, Bill Adams, Sahm, hasn't Organizations: Service, Federal Reserve, Business, Louis Federal Reserve, Bank of America, Comerica Bank, Fed
☆ Stock market today: US indexes extend plunge after surprise unemployment spike and jobs miss
  + stars: | 2024-08-02 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +2 min
US stocks fell after a weak July jobs report raised concerns of a slowing economy. The US added 114,000 jobs in July, below estimates of 175,000, and the unemployment rate unexpectedly rose to 4.3%. Intel and Amazon's weak earnings reports also contributed to Friday's stock market decline. The unemployment rate also unexpectedly rose to 4.3% from 4.1%, its highest level since October 2021. The 10-Year US Treasury yield plunged nearly 20 basis points to a 2024 low of 3.80% immediately after the jobs report was released.
Persons: —, Stephen Brown Organizations: Intel, Service, Treasury, Capital Economics, Federal, CME, Amazon Locations: payrolls
☆ Stock market today: Indexes tank after weak jobs report sparks panic
  + stars: | 2024-08-02 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +3 min
US stocks plunged Friday after a weak July jobs report sparked investor panic. The Nasdaq closed in correction territory, and the VIX soared as much as 60% to hit its highest since March 2023. AdvertisementUS stocks plunged on Friday, with the S&P 500 extending its two-day sell-off to more than 3%, as a weak July jobs report sparked panic among investors. Meanwhile, the CBOE Volatility Index, better known as the VIX, soared as much as 60% to 29.66, its highest level since March 2023. AdvertisementThe damage was exacerbated after the July jobs report showed an unexpected increase in the unemployment rate and payroll figures badly missed estimates.
Persons: —, Tom Lee Organizations: Nasdaq, Service, Treasury, Amazon, Intel, Federal, CME, Fed, UBS Global Wealth Management Locations: Americas, Here's
☆ Wall Street seems to love Apple's latest guidance on the new iPhone and Chinese demand
  + stars: | 2024-08-02 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +3 min
Wall Street is even more bullish on Apple after its second-quarter earnings beat analyst expectations. Analysts are focused on a rebound in Chinese iPhone sales and the new iPhone 16. Ives raised his Apple price target to $285 from $275, representing an upside of 30% from Thursday's close. Apple offered guidance for the third quarter, with revenue expected to jump 5% year over year, ahead of Wall Street expectations for revenue growth of 4.3%. Ng raised his Apple price target to $275 from $265, arguing that the iPhone maker was "on the cusp of a multi-year replacement cycle for iPhone."
Persons: Wedbush, —, Dan Ives, Ives, Goldman Sachs, Michael Ng, Ng Organizations: Apple, Service, Cook, iPhone, Apple Intelligence, Products Locations: China, Thursday's, Cupertino
☆ Why the Fed will have to cut rates more than expected this year, ING says
  + stars: | 2024-08-01 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +1 min
Weak economic data suggests the Fed will cut interest rates by more than expected through year-end, ING says. The firm cites rising jobless claims last week and a declining ISM manufacturing index as warning signals. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe US economy is flashing signals of an imminent slowdown, and it's going to force the Federal Reserve to cut interest rates more than expected this year. That's according to a Thursday note from economist James Knightley at ING Economics, who said recent data is firing off warning signs for the economy.
Persons: —, James Knightley Organizations: ING, Treasury, Service, Federal Reserve, ING Economics, Business
☆ Jensen Huang just got $12 billion richer in a single day as Nvidia stock soared
  + stars: | 2024-08-01 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +2 min
Jensen Huang's net worth soared $12 billion after a record day for Nvidia stock on Wednesday. Nvidia stock surged 13%, increasing its market value by a record $327 billion. AdvertisementJensen Huang's net worth soared $12 billion on Wednesday after a roaring day for Nvidia's stock. Huang's net worth has risen $59 billion this year amid a 141% year-to-date rally in Nvidia stock. AdvertisementNvidia ended up adding an unprecedented $327 billion to its market value in a single day.
Persons: Jensen, — Organizations: Nvidia, Service, Bloomberg, AMD, Microsoft, Bank of America, Netflix, Toyota Motors, Meta Platforms
☆ Live updates: Amazon to report quarterly earnings today after market close
  + stars: | 2024-08-01 | by ( Joe Ciolli | Matthew Fox | ) www.businessinsider.com   time to read: +1 min
Amazon reports second-quarter earnings after the closing bell on Thursday. Investors expect solid growth in both Amazon's AWS cloud unit and its massive retail operation. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAmazon will report second-quarter earnings on Thursday after the closing bell. Amazon's stock was up 23% year-to-date through Wednesday's close, outpacing the the S&P 500 's 16% gain.
Persons: — Organizations: Service
☆ 'Gaining share': Here's what Wall Street expects from Amazon's 2nd-quarter earnings
  + stars: | 2024-07-31 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +7 min
Wall Street expects the retail giant to report adjusted earnings per share of $1.47 in the quarter and revenue of $148.78 billion, according to data from Bloomberg. Here's what Wall Street expects from Amazon's upcoming second-quarter earnings report. While the US consumer is showing signs of softening, the bank expects Amazon's retail unit to be a beneficiary from the current economic environment. "AWS sales, in constant currency, may meet consensus' high-teens view," Bloomberg Intelligence said. AdvertisementThe analysts also said Amazon's advertising revenue could continue to grow at a "20%-plus pace as Amazon takes market share."
Persons: —, Wall, Goldman Sachs, Amazon's, Rufus Organizations: Service, Bloomberg, Business, Bank of America, of America, 1Q, " Bank of America, Citi, Amazon, 2Q, JPMorgan, Bloomberg Intelligence Locations: America, North America
☆ Stocks will rally 5% in just 5 days after the Fed's rate decision this week, Fundstrat says
  + stars: | 2024-07-31 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +3 min
The rally would be sparked by a dovish Fed FOMC meeting on Wednesday that all but confirms imminent interest rate cuts. "These are significant gains, implying the S&P 500 could gain 200-300 points in the next week," Lee said. "The key premise is the Fed is likely to commit to a September rate cut of at least 25bp. Lee's confidence in a strong rally post-Fed meeting is based on the fact that recent Fed meetings have sparked a big rally in stocks. "Here are some tangible reasons a Fed cut makes sense: 30-year mortgage has excess spread to 10-year due to uncertainty.
Persons: Tom Lee, Lee, — Organizations: Service, Fed, Nasdaq
☆ Wall Street says buy stocks that pay dividends with $6 trillion of cash ready to be deployed
  + stars: | 2024-07-31 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +3 min
Dividend stocks are set to surge as investors deploy $6 trillion from money-market funds, Bank of America says. Investors could be looking to invest their cash as the Fed gets ready to cut interest rates in September. AdvertisementSome of the highest-yielding S&P 500 companies include Walgreens Boot Alliance, Altria, Verizon, Ford, and AT&T. And while the S&P 500 as a whole offers a dividend yield of about 1.25%, there are nearly 300 S&P 500 stocks that offer a higher yield. AdvertisementSome of the high-paying dividend stocks recommended by Belski include Abbvie, Chevron, Duke Energy, Gilead Sciences, and Pfizer.
Persons: —, Savita Subramanian, Subramanian, BMO's Brian Belski, Belski Organizations: Bank of America, Fed, BMO, Gilead Sciences, Service, Treasury, Walgreens Boot Alliance, Altria, Verizon, Ford, Belski, Duke Energy, Pfizer Locations: Chevron, Gilead, Abbvie
☆ Nancy Pelosi's husband just bought more Nvidia and trimmed his Microsoft stake
  + stars: | 2024-07-31 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +2 min
Paul Pelosi, husband of Nancy, purchased 10,000 shares of Nvidia last week. According to a financial disclosure form made with the Clerk of the House of Representatives on July 30, Paul Pelosi purchased more shares of Nvidia and trimmed his stake in Microsoft the prior week. In that disclosure, Paul purchased 10,000 shares of Nvidia stock in late June. In December 2021, Pelosi responded to the idea of a possible stock trading ban with, "We are a free-market economy. AdvertisementAnd in July 2022, Pelosi denied the idea that her husband had made stock trades based on information she shared with him.
Persons: Paul Pelosi, Nancy, —, Nancy Pelosi, Paul, Pelosi Organizations: Nvidia, Service, Microsoft
☆ 'Potential boost from TikTok uncertainty': Here's what Wall Street expects from Meta's 2nd-quarter earnings
  + stars: | 2024-07-30 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +5 min
Read previewAll eyes are on Meta Platforms with the company set to report its second-quarter earnings results after the market close on Wednesday. AdvertisementHere's what Wall Street expects from Meta's second-quarter earnings report. Looking forward, Post highlighted that a potential TikTok ban in early 2025 could provide a big boost to Meta's advertising business. Advertisement"With political spend, and potential TikTok ban in 1Q'25, Meta could also see an ad spend benefit in 2H'24," Post said. The company also has the potential to offer guidance on the monetization potential of its licensing of Llama, its open-source large language model.
Persons: —, Meta, Justin Post, Ronald Josey, Josey, Wells, Wells Fargo, Ken Gawrelski, Gawrelski, Mizuho, James Lee, Lee, Mandeep Singh, Singh Organizations: Service, Meta, Nvidia, it's, Business, Bank of America, Citi, Cannes, Mizuho, Bloomberg Intelligence Locations: monetizing, Wells Fargo
☆ This chart suggests the current bull market rally in stocks will extend into 2025
  + stars: | 2024-07-30 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +3 min
The cyclical bull rally starting in October 2022 is expected to last into 2025, according to Ned Davis Research. The firm highlights a chart that shows the historical trends of cyclical bull market rallies, and when they typically end. The research firm published a note last week that included a chart illustrating prior cyclical bull rallies within a secular bull market, as is the current rally. To monitor the current health of the bull rally in stocks, the research firm suggests investors closely monitor earnings results. Ultimately, the recent correction "should give way to another leg higher in the continuing bull market," Ned Davis Research concluded.
Persons: Ned Davis, —, Ned Davis Research, bode Organizations: Ned Davis Research, Service, Nasdaq
☆ A bullish signal for small-caps is flashing for the first time since 2009, indicating more upside ahead, Fundstrat says
  + stars: | 2024-07-30 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +2 min
The rally in small-cap stocks is set to continue after a bullish signal flashed for the first time since 2009, Fundstrat says. The Dallas Manufacturing Survey shows a sharp spread between current and forward expectations. Such spreads have historically preceded significant moves in small-cap stocks, Fundstrat's Tom Lee said. AdvertisementThe July rally in small-cap stocks is set to continue after a bullish signal flashed for the first time since 2009, according to Fundstrat's Tom Lee. Much of Lee's bullishness on small-cap stocks is based on compelling valuations, falling inflation, and the expectation of interest rate cuts later this year.
Persons: Fundstrat, Tom Lee, —, Lee, you've Organizations: Dallas Manufacturing Survey, Service Locations: Dallas, Lee's
☆ Stock market today: Indexes struggle for direction as investors await wave of data
  + stars: | 2024-07-29 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +2 min
US stocks closed mixed as investors awaited a wave of data this week, from earnings to the July jobs report. 171 S&P 500 companies, including Apple, Microsoft, and Amazon, will report Q2 earnings this week. AdvertisementUS stock indexes closed mixed on Monday as investors awaited a massive wave of data this week. AdvertisementAmid the steady stream of earnings data, investors will also turn their attention to the Federal Reserve's FOMC meeting on Wednesday. AdvertisementThe jobs report will help inform the Federal Reserve's interest rate policy going forward, as the Fed balances a steady economy with a falling inflation rate.
Persons: —, Jerome Powell, Fawad Razaqzada, Forex.com Organizations: Apple, Microsoft, Service, Federal, Business
☆ Tesla stock has 40% upside as a 'top pick' as it corners the EV-credit market, Morgan Stanley says
  + stars: | 2024-07-29 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +4 min
Tesla stock will soar 40% as it dominates the zero-emission vehicle-credit market, according to Morgan Stanley. Tesla's cost-cutting initiatives and energy business growth are key drivers of the firm's bullish outlook. AdvertisementTesla stock is going to soar 40% over the next year as it corners the zero-emission vehicle-credit market, according to a Monday note from Morgan Stanley. "We anticipate other car companies such as GM and STLA may be wading more deeply into the ZEV market as buyers in the quarters ahead. Advertisement"We see potential for the Tesla Energy business to be worth more than the autos business," Jonas said.
Persons: Morgan Stanley, Tesla, —, Adam Jonas, Jonas, ZEV, Ford Organizations: Ford, Service, EV, Nasdaq, North, General Motors, Tesla Energy Locations: North America, Europe
☆ Use the sell-off in tech stocks as a chance to buy the dip, UBS says
  + stars: | 2024-07-29 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +3 min
UBS sees the recent tech stock sell-off as a buy-the-dip opportunity for long-term investors. UBS cites attractive valuations, solid fundamentals, and fading technical factors as reason to stick with large-cap tech. But according to UBS, the recent decline in tech stocks is only temporary, and that should be apparent when mega-cap tech stocks report their second-quarter earnings results later this week. A healthy sell-off in tech stocks has led to more attractive valuations for the fast-growing sector, especially when compared to previous bubbles. "While the tech sector appears to be expensive after the rally this year, price-to-earnings multiples remain much lower than in the dot-com era, when many tech stocks had much lower-quality earnings," UBS said.
Persons: —, Sundar Pichai Organizations: UBS, Service, Nasdaq, Apple, Microsoft
☆ Stock market today: Indexes rise ahead of busy week for earnings, economic data, and Fed
  + stars: | 2024-07-29 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +2 min
US stocks rose as investors anticipate key economic data and earnings results this week. Major companies like Apple, Microsoft, and Amazon will release second-quarter earnings results this week. AdvertisementUS stocks edged higher on Monday as investors prepare for a big week ahead filled with important economic data and earnings results. Investors are instead expecting a 100% chance that the Fed cuts interest rates at its September FOMC meeting. Finally, it's a big week for earnings results, with about 34% of S&P 500 companies set to release their second-quarter results this week.
Persons: —, Steve Sosnick Organizations: Apple, Microsoft, Service, Interactive, Here's
☆ 3 reasons why rising unemployment isn't signaling a recession, Goldman says
  + stars: | 2024-07-29 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +3 min
Read previewThe US unemployment rate is up nearly 0.5% from its cycle low on a three-month moving average basis, which has historically been a reliable indicator that an economic recession is near. But even if the Sahm Rule does officially trigger, this time is different, according to Goldman Sachs. Advertisement"Job growth is far from weak, and with final demand still growing at a robust pace, it appears set to remain fairly solid," Goldman Sachs said. "The Fed has 525bp of room to cut and no reason to hesitate anymore if it needs to push back," Goldman Sachs said. AdvertisementTemporary 'frictions' drive unemployment rateAccording to the bank, some of the rise in the unemployment rate has been driven by "temporary labor market frictions."
Persons: —, Goldman Sachs Organizations: Service, Business, Goldman, Federal Reserve
☆ These are the 10 best-performing stocks of all time
  + stars: | 2024-07-27 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +4 min
New research identifies the 10 best-performing US stocks since 1926. Of 29,000 US stocks traded since 1926, most had negative returns, but top performers showed consistent gains. Of course, identifying the 10 best-performing stocks for the next 100 years is nearly impossible, as the paper's author points out. "The majority (51.6%) of these stocks had negative cumulative returns," finance professor Hendrik Bessembinder of Arizona State University wrote. Bessembinder also observed that the 10 best-performing stocks delivered consistently modest annualized gains, reinforcing the slow and steady mantra championed by long-term investors.
Persons: Hendrik Bessembinder, —, Bessembinder, Paul, Wilfredo Lee, ROSLAN RAHMAN Organizations: Service, Arizona State University, Pepsico, Cadillac, AP, IBM, Boeing, Getty, Dynamics, U.S, Army, Kansas City Southern, Anadolu Agency, Canadian Locations: Doral, Fla, Kansas
☆ 4 bullish signals are pointing to more stock gains ahead, according to Bank of America
  + stars: | 2024-07-24 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +4 min
The stock market rally is likely to continue, says BofA technical analyst Stephen Suttmeier. Suttmeier highlighted four positive signals that suggest a healthy bull market in a note on Tuesday. AdvertisementAs the stock market hits a series of record highs in 2024, there are positive signals suggesting the rally can keep going. That money could serve as fuel for a continued stock market rally, especially if the Federal Reserve cuts interest rates, making the current 5% cash yield less attractive. AdvertisementThe financial conditions index last sparked a major negative divergence towards the end of 2021, when the S&P 500 was rising even as the financial conditions index was declining.
Persons: Stephen Suttmeier, Suttmeier, — Organizations: Service, Bank of America, BAA, Federal Reserve, Bank of America Fed, Chicago Fed
☆ The big rotation trade is from cash to stocks - and it could help push the S&P 500 up 17% by year-end, UBS says
  + stars: | 2024-07-23 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +3 min
UBS said a major rotation from cash and bonds into stocks could happen later this year. UBS' Jason Draho reiterated his bull case for the S&P 500 to rise 17% into year-end. AdvertisementThe cash-to-stocks trade is the more durable rotation investors should be watching, UBS said. "We still recommend that investors position for lower rates, seek quality growth stocks, and seize the AI opportunity," Draho said. There will be a rotation trade in that scenario, but from cash and bonds into stocks," Draho said.
Persons: Jason Draho, —, there's, Draho, it's Organizations: UBS, Service, Federal Reserve
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