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☆ The 'Apple of e-bikes' targets profitability next year even as rivals enter bankruptcy
▼ + stars: | 2023-11-17 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

CowboyCowboy, the Belgian electric bike maker, is expecting to hit full-year profitability in 2024 even as some of its market rivals are facing financial hardship. By the third quarter, Cowboy would then have reached profitability on a full-year basis, according to the firm's boss. It's been termed the "Apple of e-bikes" in the past due to its integration of software smarts in its bikes. In July, Dutch e-bike firm VanMoof filed for protection from creditors. Revonte, a Finnish e-bike firm, also filed for bankruptcy and said it is selling its intellectual property.

Persons: Cowboy Cowboy, Adrien Roose, Roose, we'll, they're, Cowboy Organizations: Cowboy Cruiser, Cowboy, CNBC, Apple Locations: Belgian, Dutch

☆ Morning Bid: Oil slide, Walmart stoke disinflation speculation
▼ + stars: | 2023-11-17 | by ( Wayne Cole | ) www.reuters.com time to read: +2 min

Oil, miniatures of oil barrels and U.S. dollar banknote are seen in this illustration taken, June 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 17 (Reuters) - A look at the day ahead in European and global markets from Wayne Cole. Asia has been in a contemplative mood so far on Friday after another week of wild swings in bonds, equities and commodities. The market now implies 98 basis points of cuts next year, compared with 73 basis points a week ago. U.S. data on housing starts for OctBy Wayne Cole; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Wayne Cole, Brent, Christine Lagarde, De Cos, BoE's Greene, Ramsden, Barr, Daly, Collins, Muralikumar Organizations: REUTERS, Walmart, Federal Reserve, Westpac, EU, Thomson Locations: Wayne, Asia, Ukraine, Goolsbee .

☆ Retail traders cash out as market rallies on bets of end to rate hikes
▼ + stars: | 2023-11-16 | by ( Medha Singh | ) www.reuters.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 29, 2023. Retail traders, who used to band together on online platforms to chase highly shorted shares during the days of easy money, have been seeing a reversal of fortunes as rising rates diminish their holdings in high-risk, high-return assets. "Seasonality suggests that retail investors are unlikely to support any year-end rally, except for big-tech," Vanda's Mantle said. Despite their overall slow buying, there were spurts of activity where retail traders chased sharp rallies in some small cap names - a typical trading strategy. "If we don't get any follow through it would be hard to say we've got retail traders back in the game," said Paul Nolte, senior wealth advisor and market strategist at Murphy & Sylvest Wealth Management.

Persons: Brendan McDermid, Vanda, Morgan, Lucas Mantle, Vanda's Mantle, Paul Nolte, Medha Singh, Arun Koyyur Organizations: New York Stock Exchange, REUTERS, Vanda Research, Retail, P Global Market Intelligence, Murphy, Sylvest Wealth, Thomson Locations: New York City, U.S, Bengaluru

☆ Goldman sticks by this tanking solar stock, says it could nearly triple
▼ + stars: | 2023-11-16 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

Goldman Sachs thinks Maxeon Solar Technologies will see eye-popping gains despite the company's recent earnings disappointment. Analyst Brian Lee maintained his buy rating on the Singapore-based solar panel maker. He did lower his 12-month price target on the stock by $3 to $18, but that still implies shares can go up 195% from Wednesday's close. Shares of the solar company plunged 14% on Thursday, reaching a 52-week low, after Maxeon reported third-quarter results that missed analysts' expectations by a wide margin. But a positive catalyst for the stock going forward, Lee noted, is that Maxeon announced a settlement on Wednesday with residential solar technology provider SunPower .

Persons: Goldman Sachs, Brian Lee, Maxeon, Lee, SunPower Organizations: Technologies Locations: Singapore, Wednesday's, U.S

☆ The Fed is probably done hiking rates. Cuts are still far off
▼ + stars: | 2023-11-16 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —The Federal Reserve likely won’t raise interest rates again during its current tightening cycle, thanks to a cooldown in inflation. Interest rates are at a 22-year high after the Fed last March began its punishing pace of hikes in a bid to tame wayward inflation. Traders are now virtually certain that the Fed will hold rates steady at its December policy meeting and won’t hike again this cycle, according to the CME FedWatch Tool. Of course, one month’s data doth not a trend make. Traders are anticipating rate cuts won’t start before next March, and see May as more likely, according to the CME FedWatch Tool.

Persons: ”, Jeffrey Roach, Price, Sharp, Jerome Powell, Yung, Yu Ma, Joseph Brusuelas, Sephora, Parija Kavilanz, Read, Rishi Sunak, Hanna Ziady, “, ” Sunak, ” Read Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Fed, Dow Jones, Nasdaq, “, LPL, Bureau of Labor Statistics, CPI, Research, BMO Wealth Management, Traders, Investors, RSM US, CNN, National Statistics Locations: New York

☆ US retail sales fell in October for the first time in seven months
▼ + stars: | 2023-11-15 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Americans cut their retail spending in October for the first time since March, with interest rates at a 22-year high. Retail sales, which are adjusted for seasonality but not inflation, fell 0.1% in October from the prior month, the Commerce Department reported Wednesday. October’s decline in retail spending is potentially an early sign of a slowing economy as US consumers get squeezed by higher borrowing costs and they continue to rack up credit card debt. Car sales fell 1.1% in October from September, while furniture sales declined 2% during the same period. Wednesday’s retail sales report bodes well for the Fed, since it shows spending isn’t reaccelerating or remaining stubbornly strong.

Persons: Jerome Powell, ”, Kathy Bostjancic, Austan Goolsbee, market’s, ” Goolsbee Organizations: DC CNN, Commerce Department, Federal, Nationwide, Reserve, of Labor Statistics, Chicago Fed, Detroit Economic Locations: Washington

☆ October's inflation report 'broke the hiking cycle's back,' and signals the Fed is done raising rates, Bank of America says
▼ + stars: | 2023-11-14 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Bank of America changed its Fed outlook on Tuesday after a softer-than-expected CPI report. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOctober's softer-than-expected inflation reading prompted Bank of America on Tuesday to change its outlook on further interest rate increases, with strategists declaring that the Federal Reserve's rate hiking cycle is over. Inflation in October came in at 3.2% year-over-year, down from 3.7% in September and the lowest reading since June. In its note on Tuesday, the bank called the report "the straw that broke the hiking cycle's back."

Persons: —, Katie Stockton, seasonality, Stockton Organizations: of America, Service, Bank of America, Markets, Fed, Dow Jones Industrial, Nasdaq Locations: New York

☆ Instant view: Cooler October US CPI raises confidence that Fed hikes done
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +8 min

Economists polled by Reuters had forecast the CPI gaining 0.1% on the month and increasing 3.3% on a year-on-year basis. The rally was due to rising investor belief that the Federal Reserve will now be less likely to hike interest rates at future meetings. LINDSAY ROSNER, HEAD OF MULTI-SECTOR FIXED INCOME INVESTING, GOLDMAN SACHS ASSET MANAGEMENT, NEW YORK“Today's Core CPI print was below expectations. "The Fed will not want to step back from its hawkish stance yet; the annual core rate at 4% is still some way away from target. THOMAS HAYES, CHAIRMAN AT HEDGE FUND GREAT HILL CAPITAL, NEW YORK"We're happy to see both headline and core CPI come in lower than expected.

Persons: Hannah Beier, ” BEN JEFFERY, GREG BASSUK, ” “, ” BRIAN JACOBSEN, MENOMONEE, we’ll, ” CHRIS ZACCARELLI, LINDSAY ROSNER, GOLDMAN, ” MATTHEW MISKIN, JOHN, “, ” STUART COLE, Kashkari, Powell, PETER ANDERSEN, ANDERSEN, it's, THOMAS HAYES, OLIVER PURSCHE, It’s, ” Organizations: Reading, REUTERS, Federal Reserve, Labor Department's Bureau of Labor Statistics, Reuters, Treasury, Markets, BMO, Reserve, CPI, ALLIANCE, Fed, Global Finance, Thomson Locations: Philadelphia , Pennsylvania, U.S, WALTHAM, MA, WISCONSIN, CHARLOTTE, GOLDMAN SACHS, JOHN HANCOCK, BOSTON, LONDON

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Amazon, BJ's, Ferrari, Disney, Birkenstock & more
▼ + stars: | 2023-11-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Monday's biggest calls on Wall Street: KBW upgrades Bank of America to market perform from underperform KBW upgraded the banking giant with long-term rates declining. Bank of America downgrades Paramount to underperform from buy Bank of America said the backdrop is too challenging for the media stock. Bank of America reiterates Nvidia as buy Bank of America said it's bullish on the stock heading into earnings later this month. Goldman Sachs initiates Birkenstock as buy Goldman initiated the shoe company with a buy and said Birkenstock shares are compelling. Bank of America reiterates Apple as neutral Bank of America said it's sticking with its neutral rating on shares of Apple .

Persons: KBW, Mizuho, it's, BILI, Lee jeans, it's bullish, Goldman Sachs, Goldman, EBITDA, Raymond James downgrades Bloomin, Raymond James Organizations: Bank of America, Underperform, Corp, Deutsche Bank, Deutsche, Mizuho, TAM, UBS, Amazon, Citi, Disney, " Bank of America, Paramount, Barclays, Nvidia, AMD, Dominion, Biotech, JPMorgan, HSBC, RBC, Apple, of America Locations: China, FY24E, CLX, Russia, Ukraine

☆ Citi upgrades U.S. stocks on stable interest rates, year-end seasonals
▼ + stars: | 2023-11-02 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Citi is turning more bullish on U.S. stocks heading into the end of 2023. The firm moved U.S. equities to a tactical overweight rating in a Wednesday note, underpinned by seasonality, stable interest rates and positive earnings growth. "With the January-October numbers now official — total return of 10.7% — the rule by itself would trigger a tactical buy signal into year-end." The analyst added that he expects interest rates and a steady supply overhang "should at least stabilize rates in the short term," further aiding equities. The note follows a move higher in U.S. stocks Wednesday after the Federal Reserve held rates steady for a second-consecutive month.

Persons: Dirk Willer, Jerome Powell, Willer Organizations: Citi, Citi Research, Federal Reserve

☆ The bond market is where the action is right now, says Treasury Partners' Richard Saperstein
▼ + stars: | 2023-11-01 | 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 bond market is where the action is right now, says Treasury Partners' Richard SapersteinJoe Terranova, Bryn Talkington, Steve Weiss, and Richard Saperstein join 'Halftime Report' to discuss the bond market's reaction to the treasury refunding, fiscal stimulus working its way through the economy, and seasonality in the market.

Persons: Richard Saperstein Joe Terranova, Bryn Talkington, Steve Weiss, Richard Saperstein Organizations: Partners

☆ Watch CNBC's investment committee discuss treasury refunding
▼ + stars: | 2023-11-01 | 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 investment committee discuss treasury refundingJoe Terranova, Bryn Talkington, Steve Weiss, and Richard Saperstein join 'Halftime Report' to discuss the bond market's reaction to the treasury refunding, fiscal stimulus working its way through the economy, and seasonality in the market.

Persons: Joe Terranova, Bryn Talkington, Steve Weiss, Richard Saperstein Organizations: Watch

☆ Something for the bulls: November is typically the best month for the stock market
▼ + stars: | 2023-10-31 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

November is typically an outperforming month for Wall Street, according to data from the "Stock Trader's Almanac." The benchmark S & P 500 and the Dow Jones Industrial Average have each historically posted an average gain of 1.7% in November, dating back to 1950. Those moves make November the strongest month of the year for the S & P 500 and the second-best month for both the Nasdaq and the 30-stock Dow, according to the almanac. The S & P 500 has slipped roughly 3% so far and is on track for a third-straight month of declines . The string of monthly losses would mark the first such occurrence for the S & P 500 since the height of the Covid-19 pandemic in 2020.

Persons: Jeff Hirsch, Hirsch, There's, there's, We've, doesn't, we're, they're Organizations: Wall, Dow Jones, Nasdaq, Dow Locations: lockstep

☆ Southwest Airlines profit falls, expects higher deliveries from Boeing in 2023
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike Blake/File Photo Acquire Licensing RightsOct 26 (Reuters) - Southwest Airlines (LUV.N) reported a third-quarter profit on Thursday that fell about 30% on soaring labor and fuel costs and the budget carrier said it expects higher aircraft deliveries from Boeing (BA.N) in 2023. Last month, Southwest Airlines raised concerns about rising fuel costs and weaker leisure bookings in August, citing seasonality trends. Southwest expects fourth-quarter operating revenue per available seat mile, a proxy for pricing power, to decrease by 9% to 11% compared with last year. Southwest Airlines also forecast capacity to increase by 15% in the current quarter, once adjusted for the operational disruption faced by Southwest in December last year. Southwest Airlines reported a profit of $193 million, or $0.31 per share, in the third quarter, from $277 million, or $0.44 per share, a year earlier.

Persons: Mike Blake, workgroups, Bob Jordan, Shivansh, Shounak Dasgupta Organizations: REUTERS, Southwest Airlines, Boeing, U.S, Southwest, Boeing's, Thomson Locations: Kahului, Maui, Hawaii, U.S, Bengaluru

☆ What’s next for the S&P 500 after the key break of 4,200, according to chart analysts
▼ + stars: | 2023-10-26 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

The S & P 500 closed at its lowest level in five months on Wednesday, a move that could signal further weakness lies ahead. Instead, he would see it as a renewal of the bear market. The S & P 500 also closed back below its 200-day moving average on Wednesday. His question now is if the market once again goes into a true bear market. A true move below could also push him to pull back his year-end forecast for the S & P 500, which is currently at 4,600 points.

Persons: John Kolovos, he's, Kolovos, Oppenheimer, Ari Wald, Seasonality, Wald, Will Organizations: Advisors Locations: U.S, Israel

☆ AI, machine learning, and robotics are making the retail supply chain more efficient and resilient — a welcome shift after several rocky years
▼ + stars: | 2023-10-26 | by ( Nicholas Fearn | ) www.businessinsider.com time to read: +11 min

AdvertisementAdvertisementIncreasing efficiencies in the retail supply chain is necessaryPaul Maguire, the head of retail delivery at the digital consultancy Endava, told Insider that embarking on a digital transformation was critical to better-connected and more resilient retail supply chains. Digital technology will "close gaps in supply-chain visibility" and help retailers "manage future unforeseen surges in product demand," he said. These innovations will "continue to bolster and streamline the retail supply chain as they become even more sophisticated," Maguire said. AdvertisementAdvertisementTo survive, Perry said that the retail supply chain must take steps to become more agile and flexible. ScanditA data-driven tech strategy can also help retailers appeal to sustainability-conscious consumers.

Persons: —, Paul Maguire, Maguire, John Perry, Perry, they'd, Wunderman, Arifi, Naji, Wunderman Thompson, Samuel Mueller, Mueller Organizations: Service, SCALA Consulting, Wunderman Thompson Commerce & Technology, DFS, Wunderman Thompson Commerce, Technology Locations: Ukraine, SCALA, British

☆ Here are Tuesday's biggest analyst calls: Apple, Nvidia, Amazon, Tesla, DraftKings, Meta, Monster & more
▼ + stars: | 2023-10-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are the biggest calls on Wall Street on Tuesday: Bank of America reiterates Apple as neutral Bank of America said China remains a risk for Apple . UBS downgrades Regions to neutral from buy UBS said the Birmingham, Alabama-based regional bank is going into the "penalty box." DA Davidson upgrades Braze to buy from neutral DA said shares of the cloud-based software company will benefit from "resilient growth." Piper Sandler downgrades Monster to neutral from overweight Piper said in its downgrade of Monster that it had previously been just "wrong." Seaport initiates Amazon, Meta and Alphabet as buy Seaport initiated Amazon , Meta and Alphabet on Tuesday, saying it sees further upside for all three.

Persons: Bernstein, Tesla, underperform Bernstein, Goldman Sachs, Goldman, it's bullish, Ingersoll Rand, Stifel, Davidson, Needham, Moffett, Piper Sandler, Piper, MNST, Redburn, Morgan Stanley, Wells, it's, Baird, KeyBanc, –, Tommy Hilfiger, Larsson, Calvin Klein Organizations: Bank of America, Apple, of America, Nvidia, Reuters, AMD, Microsoft, UBS, Regions, Lattice Semiconductor, PSA, Fitness, Retail Media, Barclays, Rio Tinto, FMC Corp, FMC, JPMorgan, PVH, Energy Locations: China, wearables, Birmingham , Alabama, Rio

☆ After a summer of Barbenheimer and Beyoncé, can US consumers still afford the holiday season?
▼ + stars: | 2023-10-21 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

Minneapolis CNN —Ballpark attendance boomed this summer, Barbenheimer revived the box office and a Renaissance of live performances brought concerts into new Eras. However, it also could mean that holiday spending just might look a little different and skewed more toward experiences than it has done in past years. Respondents to KPMG’s 2023 holiday survey said they plan to spend 5% more this season, said Matt Kramer, KPMG’s consumer and retail national sector leader. “What stands out the most is this ‘leaning in’ to holiday travel and wanting to have those experiences with friends and family,” he said. A more comprehensive look at consumer spending will come at the tail end of the month when the Personal Consumption Expenditures data is released.

Persons: Barbenheimer, Everybody, ”, Keith Gentili, ” Taylor Swift, Allen J, “, Ted Rossman, that’s, ’ ”, aren’t, Matt Kramer, Tamara Charm, Elijah Nouvelage, Patrick T, Fallon, Gus Faucher, Nathan Howard, Nancy Vanden Houten, ’, ” Rossman, Matt Schulz Organizations: Minneapolis CNN —, New Hampshire, Los Angeles Times, Getty, Bankrate, McKinsey, Travelers, Hartsfield, Jackson Atlanta International Airport, Bloomberg, Commerce, Apple, PNC Financial Services, Shoppers, canaries, LendingTree Locations: Minneapolis, New, Inglewood , California, splurge, ’, Los Angeles, AFP, Georgetown, Washington, what’s, Oxford

☆ PC demand is back, says Acer CEO who sees robust growth in the 'foreseeable future'
▼ + stars: | 2023-10-20 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

"We have seen the demand reach the bottom during about the May timeframe this year and ever since that, the demand has come back. For Q3, we have already seen year-to-year growth," chairman and CEO Jason Chen told CNBC's Emily Tan. Acer is the world's fifth-largest player in the PC market with a 6.4% market share, according to Canalys. But the boom in PC sales came to an end, when global PC shipments declined sharply in the first quarter of 2022. "PCs today, together with the display business, monitor business, is contributing about two-thirds of our business.

Persons: Jason Chen, Emily Tan, Chen Organizations: Lenovo, HP, Dell, Apple, Acer Locations: Taiwan, China, Southeast Asia, Japan, Korea, India

☆ The chip stock is getting a ton of love from Wall Street, and it's not Nvidia
▼ + stars: | 2023-10-20 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

A major chipmaker is getting a lot of love on Wall Street — and no, it's not Nvidia . Taiwan Semiconductor Manufacturing Company posted third-quarter results Thursday that topped analysts' expectations. While the company reported its largest profit decline since 2019, it signaled a looming end to a difficult inventory correction. The Taiwan-based semiconductor company plays an integral role in the attention-grabbing artificial intelligence chipmaking industry, supplying products to Apple , Nvidia and Advanced Micro Devices . However, now may mark an opportune time for long-term investors to get into a company poised to experience mid- to high-teens growth in 2024.

Persons: Goldman Sachs, Bruce Lu, Lu, Brad Lin, Gokul Hariharan, Hariharan, — CNBC's Michael Bloom Organizations: Nvidia, Taiwan Semiconductor Manufacturing Company, Taiwan Semiconductor, Apple, Bank of America, JPMorgan Locations: 2024E, Taiwan, China, U.S

☆ The S&P 500 is near a make-or-break moment that will decide the bull market's fate
▼ + stars: | 2023-10-18 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The S&P 500 is sandwiched between two key technical levels, and the next phase of the bull market can't continue until a breakout occurs. Bank of America's Stephen Suttmeier outlined the key technical levels to watch on the S&P 500. AdvertisementAdvertisementThe S&P 500 is approaching a make-or-break moment that will determine whether or not the next phase of the bull market gets underway. Since 1928, the S&P 500 has delivered positive returns 74% of the time in December, with an average monthly return of 1.3%. "Monthly S&P 500 seasonality suggests buying weakness into September and October prior to a fourth-quarter and year-end rally," Suttmeier said.

Persons: Bank of America's Stephen Suttmeier, —, Stephen Suttmeier, Suttmeier, seasonality Organizations: Bank of America's, Service, Bank of America

☆ I moved to a Colorado ski town to live my dream life, but am leaving because it's too expensive and crowded
▼ + stars: | 2023-10-18 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +7 min

Callie Kuchan is returning to Illinois after finding a small ski town in Colorado too expensive. To hike, bike, ski, cross-country ski — pretty much all of the outdoor sports that I could get myself into. You're living your mundane life while being surrounded by that environment, which can be challenging mentally. Callie Kuchan moved to Breckenridge, Colorado, for the active lifestyle, but couldn't afford to live how she wanted to. Breckenridge, Colorado.

Persons: Callie Kuchan, Kuchan, —, There's, Breckenridge, Covid, it's, — it's Organizations: Service Locations: Illinois, Colorado, Breckenridge, Breckenridge , Colorado, Denver, Chicago , Illinois, Chicago, Chamonix

☆ US retail sales rose in September for the sixth-straight month
▼ + stars: | 2023-10-17 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Retail sales, which are adjusted for seasonality but not inflation, grew 0.7% in September from the prior month. Factoring in September’s 0.4% rise in consumer prices, inflation-adjusted retail sales were up 0.3% last month. From a year earlier, retail sales and food services spending were up 3.8% in September, the strongest annual gain since February. Spending grew across most categories last month, with sales at specialty stores advancing the most, by 3%. Excluding sales at gasoline stations, retail sales still advanced 0.7% last month.

Persons: ”, BIll Adams, ’, Adams, US Energy Information Administration “, Liz Ann Sonders, Charles Schwab, Brian Field, Gregory Daco, ” Daco, Joe Biden, Jordan Organizations: DC CNN, Comerica Bank, headwinds, UAW, United Auto Workers, US Energy Information Administration, Hamas, University of, San Francisco Fed, “ Retail, CNN, Employers, Sensormatic Solutions, Services, OPEC Locations: Washington, Israel, Iran

☆ Housing market competition cools off, opening up more inventory and slowing down prices
▼ + stars: | 2023-10-12 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

Competition in the housing market is easing faster than normal this fall, a Zillow report said. The "rate lock" that kept potential sellers on the sidelines because of high mortgage rates is abating. As a result, housing supply ticked with total listings for sale up 0.2% in September from August. AdvertisementAdvertisementCompetition in the housing market is easing faster than normal, as home prices ticked lower last month and inventory loosened up, Zillow said Thursday. AdvertisementAdvertisementAnd the Mortgage Bankers Association said this week that mortgage rate applications inched upwards too.

Persons: —, Zillow, Jeff Tucker, it's Organizations: Service, Mortgage Bankers Association

☆ There's a 'good likelihood' that the market bottom is in, Fundstrat says
▼ + stars: | 2023-10-10 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The market recovery from last week's lows could be an indication that a market bottom is in place, according to Fundstrat Global Advisors. "While some might see this as 'jumping the gun,' I do feel like there's a good likelihood that Equity market lows could be in place after the constructive bounce in recent days," wrote Mark Newton, the firm's head of technical strategy. Newton pointed to several reasons for this, including: Strong tech returns relative to the S & P 500 . Bank of America's Stephen Suttmeier also noted that the fourth quarter is usually a good one for the S & P 500, increasing the likelihood of the broader market index doing well going forward. Going forward, the next test for the S & P 500 comes near the 4,400 to 4,450 range, as investors work their way through oversold conditions, according to Rob Ginsberg of Wolfe Research.

Persons: Mark Newton, Newton, . Bank of America's Stephen Suttmeier, Suttmeier, Rob Ginsberg, Wolfe, — CNBC's Michael Bloom Organizations: Fundstrat Global Advisors, . Bank of America's, Wolfe Research

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