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☆ Morgan Stanley lays out the stock market's best-case scenario for this week's Fed decision — and 2 areas to buy after the cut
▼ + stars: | 2024-09-16 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Ideally the Fed will cut rates by a half-point without triggering growth worries, Morgan Stanley says. According to new research from Morgan Stanley, that would be the best possible outcome for stocks. Ahead of the rate cut, Morgan Stanley suggested that investors increase exposure to two stock cohorts that have historically outperformed in similar environments: defensive and high-quality. Defensive stocks include sectors such as utilities and consumer staples — groups that are less reliant on macroeconomic conditions to perform well. Large caps also tend to outperform small caps both before and after the Fed's first rate cut.

Persons: Morgan Stanley, Mike Wilson, —, Morgan, cyclicals, Wilson Organizations: Service, Federal Reserve

☆ We debate selling more shares of Procter & Gamble, plus Wells Fargo bounces back
▼ + stars: | 2024-09-16 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Debating P & G: We remain torn over traditional slowdown stocks like Procter & Gamble and other defensive consumer stocks. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. 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, we're, Morgan Stanley, Wells, Wells Fargo, It's, we've, Hock Tan, Rene Haas, Jim Cramer's, Jim, Charlie Scharf, Patrick T, Fallon Organizations: CNBC, Apple, Apple Intelligence, Micron, Currency, Procter, Gamble, Colgate, Palmolive, Broadcom, Arm, Jim Cramer's Charitable, Milken Institute Global Conference, Afp, Getty Locations: stock's, Wells Fargo, Beverly Hills , California

☆ Stouffer's takes on Kraft with new boxed mac and cheese
▼ + stars: | 2024-09-16 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Stouffer's is exiting the freezer aisle and taking on Kraft Heinz with its new shelf-stable mac and cheese. The average American consumer eats mac and cheese 22 times a year, trailing only pizza in its frequency, according to Moe. Out of those 22 occasions, the mac and cheese comes from a box about 70% of the time. To start, under the name Stouffer's Supreme, the brand will offer two variations on boxed mac and cheese: a classic cheddar and a three-cheese version made with cheddar, gouda and parmesan. Moe said the cheddar is a "sibling, not identical twin" of its frozen mac and cheese, while the three-cheese option is a "cousin."

Persons: Kraft Heinz, Stouffer's, Tom Moe, Moe, Andre Maciel, Kraft's, Nestle, that's Organizations: Kraft, Nestle, Nestle Meals Division, Barclays Global Consumer Staples Locations: cheddar, gouda

☆ Here are Monday's biggest analyst calls: Tesla, Nvidia, Apple, Oracle, Carvana, Micron, Sprouts, Zillow, Coca-Cola & more
▼ + stars: | 2024-09-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are the biggest calls on Wall Street on Monday: Evercore ISI reiterates Alphabet as outperform Evercore says it's sticking with shares of the search giant. Morgan Stanley reiterates Micron as equal weight Morgan Stanley lowered its price target on the stock to $100 per share from $140. Morgan Stanley reiterates Tesla overweight Morgan Stanley says it's sticking with its overweight rating heading into Tesla's robotaxi day on Oct. 10. Morgan Stanley upgrades Ase Technology to overweight from equal weight Morgan Stanley said in its upgrade of Ase that the chipmaker's stock is defensive. Morgan Stanley upgrades Chart Industries to overweight from equal weight Morgan Stanley says the gas liquefication company has "significant exposure to both energy transition and renewables as well as traditional energy."

Persons: Evercore, Morgan Stanley, Tesla, Simon, Eaton, Wells, Pro Max, Carvana Evercore, Jack Sinclair, Curtis Valentine, Merchant Scott Neal, BTIG, Truist, Melius Organizations: DOJ, Micron, Technology, Industries, Citi, downgrades Colgate, Palmolive, CL, Barclays, GE, GE Vernova, JPMorgan, Apple, Pro, Ally, Mizuho, Oracle, " Bank of America, Nvidia, Bank of America Locations: Tesla's, Staples

☆ Investors buying Big Tech stocks and Treasuries ahead of a potential Fed rate cut
▼ + stars: | 2024-09-16 | by ( Frank Holland | In Frank-Holland | ) www.cnbc.com time to read: +2 min

(This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for PRO subscribers. Worldwide Exchange airs at 5 a.m. ET each day) Worldwide Exchange Word of the Day: Fed Mimi Duff from GenTrust said the Federal Reserve decision on Wednesday will dominate the market action this week. Even as the Fed is expected to enter a rate cutting cycle, Duff sees the biggest opportunities in defensives like consumer staples and healthcare. INTC 1D mountain Intel, 1 day Intel continues to be a laggard in the chip space with shares down 60% year to date.

Persons: Mimi Duff, GenTrust, Duff, Jerome Powell, Big Tech Alan McKnight, Jackson, mMoney, McKnight Organizations: PRO, Worldwide, Federal, Big Tech, Regions Bank, Big, Intel, Bloomberg, Pentagon

☆ I'm a dietitian who follows the Mediterranean diet. Here are my 10 favorite snacks and pantry staples to get on Amazon.
▼ + stars: | 2024-09-15 | by ( Lauren Manaker | ) www.businessinsider.com time to read: +1 min

Beyond traditional grocery stores, I buy lots of my Mediterranean-diet staples on Amazon. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementI'm a dietitian who follows the Mediterranean diet, which means I eat a lot of veggies, beans, fish, and healthy oils. Most of my groceries come from either my local grocery store, Costco, or an occasional visit to a farmers market.

Persons: I've, — Organizations: Service, Costco, Business

☆ Resist the temptation of AI and bet on safe defensive stocks, Wall Street analysts say
▼ + stars: | 2024-09-15 | by ( Filip De Mott | ) www.businessinsider.com time to read: +5 min

More analysts are recommending "defensive" shares over AI plays as macro conditions change. With some questioning the AI rally, investors could benefit from non-tech growth companies, an analyst said. Similar to BofA's call, Morgan Stanley's Mike Wilson last week called the AI theme "overcooked" and said investors should shift to defensive shares. But in tune with what others had said, Diton also touted that utilities stocks as one meaningful investment to make right now. As bullish on AI as he may be, he warned that the market has become extremely concentrated in tech's leading names, and investors need to diversify.

Persons: —, Morgan Stanley's Mike Wilson, Brad Conger, Hirtle Callaghan, Conger, Morgan Stanley's Wilson, Eric Diton, Diton Organizations: Service, Nvidia, P Global Semiconductor, Bank of America, Vanguard, JPMorgan, Wealth Alliance, Federal Reserve Locations: BlackRock

“My father, who had experience in the food industry, told me at first to do something else. He said it’s too hard, it’s too much work, too many hours,” Pulido told NBC News. Since then, Pulido has expanded her dining area and her kitchen, she told NBC News. “The week that I was sworn in was the week that I delivered my last baby,” she told NBC News. This year, she was recognized with the 2024 Latino Spirit Award from the California Latino Legislative Caucus for her achievement in public service and health.

Persons: Kenny Luna, Luna, “ campo, Scott Hattis, Hattis, Dominican —, Yadi Garcia, ” Luna, ”, “, Loisa, Ana Liz Pulido, ’, Oscar ”, Beard, Ana Liz Taqueria, she’s, ” Pulido, Pulido, Dr, Diana E, Ramos, California’s, ” Ramos, ” Dr, Nadine Burke, Kimberly White, California Cristina Rivera Garza, Cristina Rivera Garza, “ Liliana’s, Rivera Garza —, MacArthur, Rivera Garza Organizations: Dominican dad’s New, Dominican, New York, NBC News, Mexican, NBC, OB, California Latino Legislative Caucus, Latina, South Central, Justice, University of Houston, U.S Locations: Dominican dad’s New York City, ”, Dominican, Caribbean, New, Side, Puerto Rican, U.S, Texas, Mexican American, Mission , Texas, Mission, California, South, South Central Los Angeles, Sacramento, Mexican, Mexico

☆ Billionaire undertakes first civilian spacewalk and big moments from the VMAs: Morning Rundown
▼ + stars: | 2024-09-12 | by ( Elizabeth Robinson | Elizabeth Robinson Is A Newsletter Editor For Nbc News | Based In Los Angeles. | ) www.nbcnews.com time to read: +9 min

Some Donald Trump allies expressed concern over his debate performance. And Taylor Swift and Chappell Roan win big at the MTV VMAs. SpaceX / PolarisFour private citizens orbiting Earth in a SpaceX capsule are attempting to make history by completing the world’s first all-civilian spacewalk. During the outing, Isaacman and Gillis are expected to exit the SpaceX Crew Dragon capsule on a tether. Trump’s conspiracy-laced debate performance prompts concernsFormer President Donald Trump declared Tuesday’s debate against Vice President Kamala Harris a win, but not all his allies see it that way.

Persons: Donald Trump, Taylor Swift, Chappell Roan, Francine drenches, Francine, Jared Isaacman, Scott “ Kidd ” Poteet, Sarah Gillis, Anna Menon, Isaacman, Gillis, Kamala Harris, Harris ’, Trump, David Ingram, Matt Dixon, ’, Megan Thee, Britney Spears, hird, ong, Joh, els, ord Organizations: MTV, Angeles National Forest, SpaceX, Polaris, Air Force, Tech, Republican, Senior, Trump, Megan Thee Stallion, Doha Madani Locations: Louisiana, Southern California, Francine drenches Gulf, New Orleans, Alabama, Florida, California, San Bernardino County, Orange County, ord

The Federal Reserve is expected to drop interest rates at its next meeting on September 17 and 18. When the Fed rates drop, interest rates for high-yield savings accounts and CDs will drop too. The Fed is the central banking system of the U.S., so if it drops its rates, the best CD rates and high-yield savings account rates drop too. No-penalty CDs let you lock in higher rates while still giving flexibilitySince the Fed is expected to cut rates soon, CDs offering 5% interest can help you earn high interest rates for longer than you could otherwise. Once interest rates are more stable, a high-yield savings account will likely offer rates that are on par with no-penalty CD rates without the need to track term lengths.

Persons: Chloe Moore, Financial Staples, you've, Moore, they're, I've Organizations: Federal, Financial Locations: U.S

The bank raised its price target on MercadoLibre Thursday to $2,500 from $2,225, suggesting 22% upside from Wednesday's close. The bank increased its price target to $230 from $200, implying nearly 16% upside from Wednesday's close. Supino also lifted the firm's price target to $93 a share, reflecting about 33% upside from Wednesday's close. Analyst Adam Berlin lowered his 12-month price target to $29 from $34, implying 6% downside. The investment firm's price target of $159 implies more than 2% downside from Wednesday's close.

Persons: Robert Ford Aguilar, — Michelle Fox, Wells, Wells Fargo, Eric Luebchow, Luebchow, Lisa Kailai Han, Sean Conlon, Wolfe, Peter Supino, Supino, Samantha Subin, BofA, George Staphos, a.m, Adam Berlin, Berlin, IPG, — Sean Conlon, Bernstein, Mark Moerdler, — Lisa Kailai Han, Stifel, Simon Yarmak, Andrea Pistacchi, Brandt Montour, it's, Montour, Fred Imbert Organizations: CNBC, Barclays, Bank of America, Diageo, Mercado, Mobile, Sprint, Wolfe Research, UBS downgrades, UBS, billings, GM, Pfizer, Oracle, Simon Property, Property Group, SPG, U.S, New York Stock Exchange Locations: Brazil, Mercado Pago, Wells Fargo, Wells, Roku, Berlin, America, U.S

☆ The current market is 'directionless,' one CIO says, naming 6 stocks he likes right now
▼ + stars: | 2024-09-12 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

Defensive and dividend plays Alexander's strategy in playing the market right now is through defensive sectors and dividend players. As for dividend plays, Alexander is bullish on the utilities and telco sectors amid falling Treasury yields . Big pharma plays Alexander is also likes health-care and biotech players, especially big pharmaceutical companies producing products serving medical needs. Names he likes include AbbVie , AstraZeneca , Novartis and Johnson & Johnson . Johnson & Johnson, meanwhile, has been building out a "pipeline of drugs," Alexander added.

Persons: Ted Alexander, we've, we're, Alexander, it's, bullish, Durex, They've, Mead Johnson, Johnson Organizations: U.S, U.S . Federal, Sydney, Telecommunications, AT, Verizon, Frontier Communications, London Stock Exchange, Big pharma, AstraZeneca, Novartis, Johnson Locations: U.S ., South Dallas, U.S

☆ Using ETFs to capture momentum during the market's wild swings
▼ + stars: | 2024-09-11 | by ( Emily Glass | ) www.cnbc.com time to read: +1 min

Alliance Bernstein is behind the AB US Low Volatility Equity ETF. For comparison, FactSet lists the top holdings for Invesco's Low Volatility ETF as stocks that are traditionally more stable: Berkshire-Hathaway , Coca-Cola and Visa . Archard notes there's still a place for historically less volatile stocks such as consumer staples and financials . For example, FactSet shows that Alliance Bernstein's low-volatility ETF also includes exposure in names including Procter & Gamble and Fiserv . The AB US Low Volatility ETF is up 16% so far this year as of Wednesday's close.

Persons: Bernstein, FactSet, Noel Archard, CNBC's, there's Organizations: Big Tech, Microsoft, Apple, Hathaway, Cola, Visa, Procter & Gamble Locations: Berkshire

☆ Here’s the inflation breakdown for August 2024 — in one chart
▼ + stars: | 2024-09-11 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

"We'd expect inflation to continue to subside," though with "some ups and downs" in the data from month to month, House said. Housing inflation is falling but still highInflation for physical goods spiked as the U.S. economy reopened in 2021. Shelter is largest component of the CPI, and therefore has an outsized effect on inflation readings. Such data quirks mask positive news in the real-time rental market, which has seen minimal inflation for about two years, economists said. However, shelter CPI inflation has appeared to defy gravity lately: It increased on a monthly basis for two consecutive months, from 0.2% in June to 0.4% in July, and then to 0.5% in August.

Persons: Grace Cary, Sarah House, It's, hasn't, Paul Ashworth, Ashworth, — Organizations: Wells, Wells Fargo Economics, U.S . Department of Labor, North, Capital Economics, U.S . Federal, Finance, CPI, BLS Locations: U.S, Wells Fargo, North America

☆ Ron Insana: Even as inflation cools, markets show that risks to the soft landing are rising
▼ + stars: | 2024-09-11 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

What people say about growth and inflation doesn't matter much anymore – even as the latest consumer inflation report shows a cooling trend. That means a notable drop in both wholesale and consumer prices is coming down the road. Now, it appears that the U.S. is slipping behind the rest of the world, turning its policy actions toward growth risks rather than inflation risks. It's also important to remind Fed policymakers that there is ample evidence of slower consumer spending among middle-to-lower income families. Further, recent revisions to job growth in the 12-month period through March 2024 confirm that a soft landing is at risk.

Persons: Stocks, that's, We're, It's, Ron Insana Organizations: Treasury, U.S ., CNBC Locations: China, U.S

☆ This volatility-resistant area of the stock market is ripe for outperformance after two decades of decline, according to Bank of America
▼ + stars: | 2024-09-11 | by ( Christine Ji | ) www.businessinsider.com time to read: +6 min

According to Bank of America, one area of the market is set to benefit from increased market volatility: quality stocks, or stocks with strong business models and financial fundamentals. And the cherry on top is that quality stocks — which typically become expensive during downturns — are still cheap despite their recent rally, coming out of a two-decade rut. As seen in the graph below, the high-quality factor serves as a hedge against elevated market volatility. Bank of AmericaQuality is still cheapLuckily for investors, this safe-haven area of the stock market is trading at an attractive valuation. Bank of AmericaWhile quality stocks have recently re-rated to a slight premium, they're still reasonably priced, according to Bank of America.

Persons: —, Subramanian, Financials, Schwab Organizations: Service, Bank of America, Business, PMI, Investors, of, Companies, Equity Locations: of America's

☆ The AI theme is 'overcooked' and investors should take shelter in quality defensive stocks, Morgan Stanley's CIO says
▼ + stars: | 2024-09-11 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

In the meantime, they should take shelter in quality defensive stocks, Morgan Stanley says. We just got overcooked on the whole AI theme," Wilson said. AdvertisementWith the AI rally fading for now, Wilson says investors are waiting for a new theme to emerge, and taking shelter in "quality defensive stocks" in the meantime. "In our view, a slowing labor market is consistent with a late cycle backdrop and quality + defensive leadership," Wilson wrote. AdvertisementLast month, Wilson's team added three new quality defensive stocks to its "Fresh Money Buy List," which now totals nine stocks.

Persons: Morgan Stanley's Mike Wilson, Wilson, —, they're, Morgan Stanley, Mike Wilson, Morgan, We're Organizations: Service, Bloomberg Surveillance, Nvidia, Semiconductor

☆ Amazon targets Aldi with a new lineup of ‘no-frills’ groceries
▼ + stars: | 2024-09-10 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

Amazon is rolling out a new “no-frills” private label brand called Amazon Saver, with most items priced at less than $5 and that include an array of household staples and pantry items such as cookies and crackers and perishable items like sliced turkey and ham. Shoppers at its roughly 50 Amazon Fresh stores and online are getting price cuts on more than 3,000 items. Typically, Prime members get a 10% discount, but now they can get up to 50% off eight to 15 grocery items that change weekly, including fresh produce and meats. And more than 1,200 rotating grocery items from popular brands will be discounted 25%. Prime members will also get an additional 10% off its new lineup of Saver products.

Persons: ”, Neil Saunders, ” Saunders, Sarah Wyeth Organizations: New, New York CNN, Target’s, Amazon, Walmart, Target, Aldi, GlobalData, “, CNN, Shoppers Locations: New York, Aldi

☆ It's not time to shift into defensive stocks just yet, New York Life's Goodwin says
▼ + stars: | 2024-09-10 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Lauren Goodwin, economist and chief market strategist at New York Life Investments, told CNBC that winning stocks are unlikely to fit neatly within defensive sectors at this point in the economic cycle. Another thing for investors to consider is that some of the traditional defensive sectors have already been on an upswing. Meanwhile, the Consumer Staples Select Sector SPDR Fund (XLP) is up 9%, and Health Care Select Sector SPDR Fund (XLV) is up more than 6%. XLU mountain 2024-07-01 Defensive stocks like consumer staples have performed well in the third quarter. Instead of moving to defensive stocks, investors should focus on looking for ways to lock in higher yields in fixed income before the Federal Reserve begins cutting rates, said Goodwin.

Persons: Lauren Goodwin, Goodwin Organizations: New York Life Investments, CNBC, Consumer, Federal Reserve Locations: U.S

☆ Stocks won't hit new highs anytime soon and 3 things mean the market is fairly valued, Wells Fargo says
▼ + stars: | 2024-09-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The S&P 500 probably isn't hitting fresh highs anytime soon, according to Wells Fargo. AdvertisementThe stock market's long winning streak may be done for now, Wells Fargo said. That's because to a trifecta of headwinds will cap gains for the S&P 500. "For these reasons, we find it unlikely that the S&P 500 Index will reach meaningful new highs in the coming months." Since then, growth fears have overshadowed excitement about rate cuts, and questions about the sustainability of the AI rally have dented tech bullishness.

Persons: —, Wells Fargo, Stocks, Kamala Harris, Donald Trump Organizations: Service, Federal, Fed, Investor Locations: Wells Fargo

☆ Another typically boring part of the stock market is making exciting moves
▼ + stars: | 2024-09-10 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

While many investors have been distracted by the recent drop in leading technology shares, a traditionally overlooked part of the market is seeing a major boom: consumer staples. The S & P 500 consumer staples sector hit a record on Monday, putting it more than 8% higher over the past three months. On Friday, the Bureau of Labor Statistics said 142,000 jobs were created in August, well below the 161,000 expected by economists. Against this backdrop, we used the CNBC Pro Stock Screener tool to find consumer staple stocks that could outperform going forward. Kroger is expected to gain more than 12% going forward, based on analysts consensus price targets.

Persons: It's, Kroger, Bernstein, Douglas Harned Organizations: Tech, of Labor Statistics, CNBC, Stock, Kroger, Constellation Brands, Bunge Global, Modelo, Bunge, GE Aerospace, GE Locations: U.S

☆ America's shopping spree is over and retailers are facing a new world of cautious consumers
▼ + stars: | 2024-09-08 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Read previewAmerica's wild, multi-year shopping spree has come to an end — and retailers who got used to Americans dropping cash on just about everything are in a tough spot. US retail sales came in stronger than expected in July, with Americans spending more overall compared to the prior month, according to Census data. Around 40% of consumers said they planned to pare back spending on accessories, home decor, jewelry, and furniture, per McKinsey's survey. We're now back in an environment where good retailers, strong brands that offer compelling value … will benefit," Siegel said. In the meantime, that could mean more pain for retailers, Siegel said, speculating that many were caught by surprise by the shift in consumer sentiment.

Persons: —, Ted Rossman, Rossman, pare, Simeon Siegel, Siegel, We're, SPDR Organizations: Service, Business, McKinsey & Company, Bankrate, Customers, BMO, Challenger, Walmart, Target, San Francisco Fed, Primerica Locations: FactSet

☆ OnlyFans figured out the best porn business on the internet
▼ + stars: | 2024-09-07 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

OnlyFans is an astonishingly big, and astonishingly profitable business. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You may also know that OnlyFans is a big business. But you may still be shocked to see just how big a business OnlyFans has become: Last year, the company posted operating profits of $650 million, on revenue of $1.3 billion. Maybe I'm missing something, but from what I can see, that makes OnlyFans the biggest and most profitable (mostly) porn operation in the world.

Persons: —, OnlyFans Organizations: Service

☆ Ken Griffin’s Wellington hedge fund at Citadel squeezes out 1% gain in volatile August
▼ + stars: | 2024-09-04 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Billionaire investor Ken Griffin's suite of hedge funds at Citadel eked out small gains in what proved a volatile month in August as markets grappled with an emerging growth scare. All five strategies used in the flagship fund — commodities, equities, fixed income, credit and quantitative — were positive for the month, the person said. Its equities fund, which uses a long/short strategy, edged up 0.8%, pushing its 2024 returns to 9.3%. The hedge fund complex had about $63 billion in assets under management as of Aug. 1. Overall, the hedge fund community recently moved into a defensive mode as macroeconomic uncertainty mounted.

Persons: Ken Griffin, The Beverly Hilton, Ken Griffin's, Citadel's, Goldman Sachs Organizations: Citadel, Milken Global, The Beverly Locations: Beverly Hills , California, Wellington, Miami

☆ September's poor history is hard to ignore, but market has many things on its side including the Fed
▼ + stars: | 2024-09-03 | by ( Bob Pisani | ) www.cnbc.com time to read: +7 min

The good news outweighs the bad Seasonality aside, the market is riding a wave of momentum, and with good reason: 1) The market "broadening" trend is very real. At Jackson Hole, chairman Jerome Powell made it clear that the Fed had shifted its attention from fighting inflation to the job market. S&P 500 in September: It's been ugly recently (rounded) 2023: down 5%2022: down 9%2021: down 5%2020: down 4% The elections are another wildcard. Two-thirds of the S&P 500 was up in August. Most importantly, the Equal-Weight S&P 500 (RSP) modestly outperformed the S&P 500 in August and closed Friday at an historic high.

Persons: Frank Gretz, Wellington Shields, Robert Hum, It's, Consumer Staples, Jerome Powell, David Smith, Brendan McDermid Organizations: Dow, NASDAQ, Russell, NYSE, Megacap Tech, Apple, Nvidia, Microsoft, Consumer, Estate, Technology, American Association of, Bulls, PCE, Fed, Rockland Trust, CNBC, Traders, New York Stock Exchange Locations: Wellington, Meta, Rockland, New York City, U.S

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