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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. "While the dot plots suggest upside risks to interest rates, we retain our expectations that the hike cycle is likely done and for the Fed not to raise rates again," Mark Haefele Chief Investment Officer, UBS Global Wealth Management, said in a note. Meanwhile, weak performance of recent listings after their debut highs has dampened hopes of a likely revival in the initial public offering market amid high interest rates and broader market declines. Arm Holdings also fell 3.0% to $51.3 premarket, nearing its IPO price of $51 per share while Instacart (CART.O) lost 1.4%. ET, Dow e-minis were down 188 points, or 0.54%, S&P 500 e-minis were down 34.75 points, or 0.78%, and Nasdaq 100 e-minis were down 160.75 points, or 1.06%.

Persons: Brendan McDermid, Mark, Ankika Biswas, Shristi, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, FedEx, Broadcom, Google, Dow, Nasdaq, Federal Reserve, Apple, Nvidia, Wall, UBS Global Wealth Management, Arm Holdings, Dow e, Marvell Technology, Marvell, Warner Bros Discovery, Paramount Global, Writers Guild of America, WGA, Thomson Locations: New York City, U.S, Bengaluru

☆ Haefele: For the S&P 500 to rally, the mega-cap stocks can't pull back
▼ + stars: | 2023-09-15 | 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 EmailHaefele: For the S&P 500 to rally, the mega-cap stocks can't pull backMark Haefele, UBS Global Wealth Management CIO, discusses where to invest in the markets and the outlook for the economy.

Persons: Mark Haefele Organizations: UBS Global Wealth Management

☆ Wall St Week Ahead: Investor hopes for US soft landing ride on inflation data
▼ + stars: | 2023-09-10 | by ( David Randall | ) www.reuters.com time to read: +4 min

Too high a number could fan fears of the Fed leaving interest rates higher for longer or hiking them more in coming months. That would give investors less reason to hold onto stocks after a tech-led drop in which the S&P 500 lost about 5% from summer highs. Reasons for optimism include the relative outperformance of the U.S. economy compared to Europe and China, and signs the so-called profit recession among S&P 500 companies may be over. The S&P 500 Information Technology sector lost more than 2% this week following news that Beijing had ordered central government employees to stop using iPhones for work. Still, much of the bull case for stocks hinges on softer inflation eventually pushing the Fed to lower interest rates.

Persons: Andrew Kelly, Michael Purves, Randy Frederick, Ed Clissold, Ned Davis, Jonathan Golub, David Lefkowitz, David Randall, Ira Iosebashvili, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Tallbacken Capital Advisors, Schwab Center, Financial Research, Technology, Apple, Huawei, Chief, Ned, Ned Davis Research, Credit Suisse Securities, UBS Global Wealth Management, Thomson Locations: Manhattan , New York City, U.S, Europe, China, Beijing

Are higher rates going to lead to some slow down in conjunction with the dwindling of excess consumer savings," said Lefkowitz, who also cited concerns about high valuations in equities. The Dow Jones Industrial Average (.DJI) rose 75.86 points, or 0.22%, to 34,576.59, the S&P 500 (.SPX) gained 6.35 points, or 0.14%, to 4,457.49 and the Nasdaq Composite (.IXIC) added 12.69 points, or 0.09%, to 13,761.53. For the week, which was shortened by Monday's Labor Day holiday, the S&P 500 fell 1.3%, while the Nasdaq lost 1.9% with both snapping two weeks of gains. After losing 2.9% in two sessions, the S&P 500 technology sector (.SPLRCT) closed higher. The S&P 500 posted 13 new 52-week highs and 17 new lows; the Nasdaq Composite recorded 36 new highs and 229 new lows.

Persons: David Lefkowitz, Lefkowitz, Brendan McDermid, Phil Blancato, Ladenburg, John Williams, Lorie Logan, Ryan Cohen, Sinéad Carew, Chuck Mikolajczak, Gertrude Chavez, Dreyfuss, Shristi, Arun Koyyur, Vinay Dwivedi, David Gregorio Our Organizations: Gilead Sciences, Kroger, Dow, Nasdaq, Index, UBS Global Wealth Management, Dow Jones, Monday's Labor, Apple, New York Stock Exchange, REUTERS, Asset Management, York Fed, Dallas, BofA Securities, GameStop, U.S . Securities, Exchange Commission, NYSE, Thomson Locations: Beijing, New York City, U.S, New York, Bengaluru

☆ Wall St Week Ahead Investor hopes for US soft landing ride on inflation data
▼ + stars: | 2023-09-08 | by ( David Randall | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Are higher rates going to lead to some slow down in conjunction with the dwindling of excess consumer savings," said Lefkowitz, who also cited concerns about high equity valuations. According to preliminary data, the S&P 500 (.SPX) gained 6.85 points, or 0.15%, to end at 4,457.62 points, while the Nasdaq Composite (.IXIC) gained 12.69 points, or 0.09%, to 13,761.53. Oil prices are up so far in September and on track for a fourth straight monthly gain, and this week's data also fueled inflation fears. This included stronger-than-expected services activity data and a fall in weekly jobless claims.

Persons: Brendan McDermid, David Lefkowitz, Lefkowitz, Phil Blancato, Ladenburg, John Williams, Lorie Logan, Sinéad Carew, Shristi, Arun Koyyur, Vinay Dwivedi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Index, Federal, FedWatch, Treasury, UBS Global Wealth Management, Nasdaq, Dow Jones, Asset Management, York Fed, Dallas, Thomson Locations: New York City, U.S, New York, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. The Consumer Price Index reading for August is due on Sept. 13, while the Federal Reserve's policy decision is scheduled for Sept. 20. New York Fed President John Williams kept his options open over future interest rate policy and Dallas Fed President Lorie Logan said while it "could be appropriate" to skip a rate hike in the upcoming meeting, more policy tightening might be needed. DocuSign (DOCU.O) added 3.1% as the e-Signature product provider beat second-quarter results estimates and raised its annual revenue forecast. GameStop (GME.N) fell 2.3% on a report that the U.S. Securities and Exchange Commission was investigating the videogame retailer's chairman, Ryan Cohen.

Persons: Brendan McDermid, Mark Haefele, Morgan Stanley, John Williams, Lorie Logan, Mary Daly, Ryan Cohen, Shristi Achar, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Mizuho, Dow, Nasdaq, Federal, UBS Global Wealth Management, Traders, FedWatch, Apple, Wall, Dow e, . New York Fed, Dallas Fed, San Francisco Federal Reserve Bank, GameStop, U.S . Securities, Exchange Commission, Thomson Locations: New York City, U.S, Beijing, China, Bengaluru

☆ Wall St Week Ahead Investors lower outlook for consumers as student loans, credit card debts pile up
▼ + stars: | 2023-09-01 | by ( David Randall | ) www.reuters.com time to read: +5 min

"The U.S. consumer is on thin ice coming into the final stretch of 2023," said Emily Roland, co-chief investment strategist at John Hancock Investment Management. Further declines in the labor market will likely act as a double-edged sword for investors, relieving some inflation pressures while weighing on consumer spending. Overall consumer spending rose slightly more than expected in August, while the savings rate fell to its lowest since November 2022, the Commerce Department said on Thursday. Betting against the consumer spending has so far been a losing wager. (This story has been corrected to say BNY Mellon Investment Management, not BNY Mellon, in paragraph 10)Reporting by David Randall; editing by Megan Davies and Andy SullivanOur Standards: The Thomson Reuters Trust Principles.

Persons: Caitlin Ochs, Nordstrom, Macy's, Emily Roland, Jake Jolly, Gregory Daco, Young, Jason Draho, Sandy Villere, Mellon, David Randall, Megan Davies, Andy Sullivan Organizations: New York Stock Exchange, REUTERS, Apollo Group . Department, John Hancock Investment Management, of Labor Statistics, Commerce Department, BNY Mellon Investment Management, Treasury, Ernst, Atlanta Fed's, UBS Global Wealth Management, Royal Caribbean Cruises, Villere, Thomson Locations: New York City, Russia, Ukraine, New York, U.S

People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. Focus now shifts to a report on the personal consumption expenditures price index, the Fed's preferred inflation gauge, which is set to be released on Thursday and the non-farm payrolls data due on Friday. ET, Dow e-minis were up 74 points, or 0.22%, S&P 500 e-minis were up 6.5 points, or 0.15%, and Nasdaq 100 e-minis were up 41.5 points, or 0.28%. Horizon Therapeutics' shares rose 5.2%. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Stocks, Jerome Powell, Mark Haefele, Powell's Jackson, Shristi Achar, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Fed, UBS Global Wealth Management, U.S, PDD Holdings, Baidu, Dow e, U.S . Federal Trade Commission, Horizon Therapeutics, Therapeutics, Thomson Locations: New York City, U.S, China, Xpeng, Bengaluru

☆ Nasdaq futures rally as Nvidia's blowout forecast boosts AI stocks
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +3 min

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. Nasdaq 100 e-minis were up 172 points, or 1.13% and S&P 500 e-minis were up 21.75 points, or 0.49% at 5:28 a.m. "It is clear...that AI demand is still outstripping supply," Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a note. "Within the tech sector, we think software and internet stocks are best positioned to ride the next wave of the technology cycle and the broadening of AI demand." Splunk Inc (SPLK.O) gained 13.9% after the data analytics software maker forecast third-quarter revenue above market estimates on expectations of AI-related spending.

Persons: Robert Galbraith, Mark Haefele, Jerome Powell, Amruta Khandekar, Shreyashi Sanyal, Savio D'Souza, Shinjini Organizations: Nvidia, REUTERS, Dow, Nasdaq, UBS Global Wealth Management, Microsoft, Palantir Technologies, Micro Devices, Marvell Technology, Semiconductor, Europe's ASM, BE Semiconductor, ASML, Investors, Federal Reserve, U.S, Treasury, Boeing, Splunk Inc, Thomson Locations: Santa Clara , California, United States, Jackson, U.S, Bengaluru

☆ A 'soft-ish' landing is still possible for the U.S. but there are many issues, UBS CIO says
▼ + stars: | 2023-08-22 | 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 EmailA 'soft-ish' landing is still possible for the U.S. but there are many issues, UBS CIO saysMark Haefele, chief investment officer at UBS Global Wealth Management, discusses the outlook for the U.S. economy.

Persons: Mark Haefele Organizations: UBS, UBS Global Wealth Management Locations: U.S

☆ Investors are betting that rate cuts are coming early next year. Here's what market experts are urging you do right now to cash in when rates do fall.
▼ + stars: | 2023-08-18 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

10-year Treasury yields are surging as the economy stays hot. For the first time since 2007, 10-year yields rose above 4.3% on Thursday after seeing a 31% surge since April. If or when that eventually happens, Treasury yields are likely to follow, presenting those who hold the assets with an opportunity. Bond yields fall when demand for the assets rise, pushing up their price. David Kelly, the chief global strategist at J.P. Morgan Asset Management, sees 10-year rates averaging 3.7% in the years ahead.

Persons: Gautam Khanna, Jason Draho, Lawrence Gillium, Craig Brothers, Brothers, Leslie Falconio, David Kelly, Kelly Organizations: Wall, Insight Investment, UBS Global Wealth, LPL, Bel Air Investment Advisors, Morgan Asset Management, Monopoly, Treasury Locations: Treasurys

☆ Andersen: There's a growth sensitivity beginning to emerge with the Fed
▼ + stars: | 2023-08-17 | 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 EmailAndersen: There's a growth sensitivity beginning to emerge with the FedMark Andersen, Co-Head of Asset Allocation at UBS Global Wealth Management, discusses how he's investing in the markets.

Persons: Fed Mark Andersen Organizations: Andersen, Fed, UBS Global Wealth Management

☆ A recession is only delayed as the economy continues to lose steam. Here's exactly how 8 top strategists and money managers recommend investing in this turbulent market.
▼ + stars: | 2023-08-16 | by ( James Faris | ) www.businessinsider.com time to read: +9 min

Now, the inverse has happened as stocks rally, inflation steadily falls, and the labor market stays healthy. By any historical measure, this is still a really strong labor market," he said. "There's a lot of market concern — understandably so — about the sustainability of the strong labor market," Porter said. "There are clear signs that we're weakening at the margin," Schurmeier said of the labor market. "And they're able to thread the needle on the other part of their mandate, which is the labor market."

Persons: John Porter, Jason Draho, Porter, David Lebovitz, Lebovitz, they're, Draho, Jonathan Curtis, Curtis, Brent Schutte, Schutte, Jake Schurmeier, Schurmeier, they'll, shouldn't, Charles Lemonides, Lemonides, Greg Calnon, Calnon, Franklin Equity Group's Curtis, he's Organizations: Newton Investment Management, UBS Global Wealth, Asset Management, Franklin Equity Group, Workers, Northwestern, Harbor Capital Advisors, Fed, Goldman Sachs Asset Management, Franklin Equity

☆ Falling markets sank global wealth in 2022, leaving the world with 3.5 million fewer millionaires
▼ + stars: | 2023-08-16 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

Here’s the deal: The grand total of all the private wealth in the world fell 2.4% to $454.4 trillion, according to the annual Credit Suisse and UBS global wealth report. Meanwhile, global median wealth, a more meaningful indicator of how the typical person is faring, actually rose 3% in 2022. The top 1% of households still hold a staggering 44.5% of all global wealth. “The global economy is experiencing a period of astonishing economic alteration,” wrote Paul Donovan Chief Economist at UBS Global Wealth Management, in the report. Another silver lining: According to Credit Suisse projections, global wealth will rise 38% over the next five years, reaching $629 trillion by 2027.

Persons: CNN Business ’, Joe, ”, Paul Donovan, you’ll Organizations: CNN Business, New York CNN, Credit Suisse, UBS, UBS Global Wealth Management, Suisse Locations: New York, United States, China

☆ Deflation in China is only temporary and inflation will return in the fourth quarter: UBS
▼ + stars: | 2023-08-11 | 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 EmailDeflation in China is only temporary and inflation will return in the fourth quarter: UBSEva Lee of UBS Global Wealth Management says slow-coming government stimulus will create short-term trading opportunitites in China markets.

Persons: UBS Eva Lee Organizations: UBS, UBS Global Wealth Management Locations: China

☆ Potential Japanification of China? UBS says the situation is 'completely different'
▼ + stars: | 2023-08-10 | 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 EmailPotential Japanification of China? UBS says the situation is 'completely different'Kelvin Tay of UBS Global Wealth Management says China's economy still has huge growth potential over the long run, but the current weakness in the economy means big stimulus is needed and what Beijing has done so far isn't enough.

Persons: Kelvin Tay Organizations: UBS, UBS Global Wealth Management Locations: China, Beijing

☆ Don't rule out more interest-rate hikes, with the job market still looking strong
▼ + stars: | 2023-08-07 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

The central bank will need to see more "signs that labor market conditions are loosening," governor Michelle Bowman said Saturday. But governor Michelle Bowman pushed back on Saturday, saying that additional hikes would probably be needed to bring inflation in line with the central bank's 2% target. Bowman flagged the labor market the same week a fresh batch of jobs data signaled the Fed might have more work to do to stop another flare-up in prices. "The recent jobs data is more or less in agreement with anecdotal evidence that a softening in the labor market is underway," UBS Global Wealth Management CIO Mark Haefele said in a note to clients Monday. "But elements of resilience in the jobs market mean that investors cannot yet take an end to rate hikes for granted," he added.

Persons: Michelle Bowman, Jerome Powell, Powell, Mark Haefele Organizations: Service, Federal Reserve, Kansas Bankers Association, Bowman, UBS Global Wealth Management Locations: Wall, Silicon

☆ Why China has few good options to boost its faltering economy
▼ + stars: | 2023-08-06 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Fiscal stimulus, for instance, amounted to just a third of the aid offered in the United States, with no nationwide cash handouts. “A comprehensive policy mix — covering monetary and fiscal stimulus, including infrastructure, property, and consumption, alongside structural reforms,” would be helpful to rebuild confidence, they said. It was seen as a success and helped boost Beijing’s domestic and international political standing as well as China’s economic growth, which soared to more than 9% in the second half of 2009. China’s debt woes have only deepened during the Covid-19 pandemic, when three years of draconian restrictions and a real estate downturn drained the coffers of local government. “An infrastructure-led fiscal stimulus would need to be much bigger to have the same economic impact,” she said.

Persons: they’ve, ”, Robert Carnell, Craig Singleton, Alicia Garcia, Herrero, China “, wouldn’t, Zhu Min, Garcia, Xi Jinping, Derek Scissors, Singleton, “ Organizations: Hong Kong CNN, CNN, ING Group, Foundation for Defense of Democracies, Manufacturers, Asia Pacific, UBS Global Wealth Management, International Monetary Fund, Bloomberg, American Enterprise Institute Locations: Hong Kong, China, Asia, Pacific, Washington, “, Beijing, United States, China’s, Tianjin

☆ Bank of England rate hike: Less was definitely more, UBS economist says
▼ + stars: | 2023-08-04 | 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 EmailBank of England rate hike: Less was definitely more, UBS economist saysPaul Donovan, chief economist at UBS Global Wealth Management, discusses Bank of England's latest interest rate hike and the outlook for its monetary policy.

Persons: Paul Donovan Organizations: Email Bank of, UBS, UBS Global Wealth Management, England's

☆ Jamie Dimon, Larry Summers blast Fitch's shock US downgrade as 'ridiculous' and 'bizarre and inept'
▼ + stars: | 2023-08-03 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +5 min

Fitch's downgrade of the US government's credit score on Tuesday has come as a shock to markets. Here's how 8 top voices have reacted, including Jamie Dimon, Warren Buffett and Larry Summers. But the decision of a credit rating agency today, as the economy looks stronger than expected, to downgrade the United States is bizarre and inept," Summers said in a post on X. Fitch rating services down grades US credit rating from AAA to AA+. I strongly disagree with Fitch's decision, and I believe it is entirely unwarranted," Yellen said.

Persons: Jamie Dimon, Warren Buffett, Larry Summers, Fitch, Berkshire Hathaway, Treasurys, Buffett, Dimon, Jeenah, Summers, Mohamed El, Erian, Paul Krugman, Krugman, Robert Kiyosaki, Rich Dad, Brace, Janet Yellen, Patrick Semansky, Yellen, Mark Haefele, Haefele Organizations: AAA, Service, Biden, Wall, Berkshire, CNBC, JPMorgan, Allianz, Fitch, AA, Fed, Treasury, AP, UBS Global Wealth Management Locations: Wall, Silicon, U.S, United States, States

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 20, 2023. Chart shows that the U.S.'s long-term foreign currency rating was downgraded by Fitch to AA+ in 2023, following a similar move from S&P in 2011. ET, Dow e-minis were down 104 points, or 0.29%, S&P 500 e-minis were down 24 points, or 0.52%, and Nasdaq 100 e-minis were down 132.25 points, or 0.84%. Among other early movers, Starbucks (SBUX.O) eased 1.9% after the world's largest coffeehouse chain missed market expectations for quarterly comparable sales. Reporting by Johann M Cherian and Bansari Mayur Kamdar in Bengaluru; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Fitch, Mark Haefele, Wells Fargo, Johann M Cherian, Saumyadeb Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Wall, AAA, Standard, UBS Global Wealth Management, Fitch, AA, Dow e, Nvidia, Microsoft, Devices, U.S, Caterpillar, CVS Health Corp, DuPont de Nemours, Investors, Thomson Locations: New York City, U.S, States, Wells, Bengaluru

☆ Stick with Treasurys even after Fitch downgrades U.S., UBS says
▼ + stars: | 2023-08-02 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Government bonds are still a sound investment, according to UBS. Fitch attributed the downgrade Tuesday to an "erosion of governance," referring to political standoffs around the debt limit, as well as growing debt levels. The firm expects government debt to reach 118.4% of gross domestic product by 2025. US10Y US2Y YTD line U.S. 2 year and 10 year yields Bond yields move opposite to their prices. She noted that the added benefit of having U.S. Treasurys is they offer the potential for capital appreciation if investors become concerned about slowing growth.

Persons: Fitch, Marcelli, — CNBC's Michael Bloom Organizations: UBS, ., AAA, UBS Global Wealth Management, Treasury, Federal Locations: Americas

☆ Where will the Japanese yen go? A bull and bear face off
▼ + stars: | 2023-07-28 | 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 EmailWhere will the Japanese yen go? A bull and bear face offClaudio Piron of BofA Securities and Tan Teck Leng of UBS Global Wealth Management share their outlook for the Japanese yen.

Persons: Claudio Piron, Tan Teck Leng Organizations: BofA Securities, UBS Global Wealth Management

☆ Here are 3 ways the Fed messed up since 2021 and how it's impacting the economy, according to UBS
▼ + stars: | 2023-07-26 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The Federal Reserve has made three big mistakes since inflation took off in 2021, according to UBS. "Today's rate hike will probably have to be reversed in a relatively short space of time," UBS said. Today's additional rate hike from the Fed gets to the root of what has went wrong. These are the three big mistakes made by the Fed over the past two years, and how it will impact the economy, according to UBS. "A sensible recognition of the declining quality of economic data would have stopped the blind hike, hike, hike strategy."

Persons: Paul Donovan, Donovan, Jerome Powell, Powell Organizations: Federal, UBS, UBS Global Wealth Management's, Fed Locations: Ukraine

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