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The first batch of US-provided Abrams tanks have arrived in Ukraine. The heavy tanks are joining the battle just in time for the infamous muddy season, which has bogged down some systems. AdvertisementAdvertisementUkraine's infamous mud season is on the horizon, raising questions about how the country's new Western-made armor, like the heavy US-provided M1A1 Abrams tanks, will perform in the coming muddy mess. AdvertisementAdvertisementAn Abrams tank from 1st Battalion, 8th Cavalry Regiment pulls security during Combined Resolve XIII at the Joint Multinational Readiness Center Hohenfels, Germany, on Feb. 02, 2002. In order to maintain the Abrams' Honeywell AGT1500 engine, Ukraine will need a consistent support and a solid supply chain able to provide sufficient spare parts.
Persons: Abrams, , Robert Greenway, Volodymyr Zelenskyy, YEVHEN TITOV, George Barros, Vladimir Putin's, Barros, they've, It's, Omar Marques, Mark Cancian, They're, Greenway, Douglas R, Bush, it's Organizations: Service, Hudson Institute, Army, 1st Battalion, 8th Cavalry Regiment, Joint Multinational Readiness Center, US Army, Soviet, Getty, Institute for, ARIS MESSINIS, Nowa, Center for Strategic, International Studies, Marine Corps, Abrams, Honeywell, US Locations: Ukraine, Germany, Russia, AFP, Ukrainian, Bakhmut, Donbas, Southern Ukraine, Kyiv, Kharkiv, Nowa Deba, Poland, Soviet, Soviet Union, Latvia
Stocks are coming off a brutal two-month stretch, and Wall Street is divided on what comes next. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementThe stock market is coming off back-to-back rocky months, and Wall Street is split on what could be coming next for investors. And Jeff Gundlach, the billionaire founder of DoubleLine Capital, said Tuesday that Treasury yields suggest it's time to start worrying about a severe downturn.
Persons: Stocks, Fundstrat, , Quincy Krosby, Jay Woods, Woods, jitters, Kevin McCarthy, Gene Goldman, Goldman, Tom Lee, Lee, Marko Kolanovic, Jeff Gundlach Organizations: JPMorgan, Service, Dow Jones, Nasdaq, Freedom Capital, Treasury, Cetera Investment Management, CNBC, DoubleLine
A scientist who studies the airborne transmission of diseases, a master hula dancer and cultural preservationist, and the sitting U.S. poet laureate were among the 20 new recipients of the prestigious fellowships from the John D. and Catherine T. MacArthur Foundation, known as “genius grants,” announced on Wednesday. MacArthur fellows receive a grant of $800,000 over five years to spend however they want. Fellows are nominated and endorsed by their peers and communities through an often yearslong process that the foundation oversees. Many past fellows like Octavia Butler, Paul Farmer and Twyla Tharp are luminaries in their fields and Marlies Carruth, who directs the MacArthur Fellows program, emphasized that they hope fellows will support and inspire each other. "To think that I’ve actually been selected as one is really mind-blowing,” she said, of the MacArthur fellows.
Persons: John D, Catherine T, , MacArthur, it’s, Ada Limón, Allamay Barker, , Limón, ” Limón, Octavia Butler, Paul Farmer, Twyla Tharp, Carruth, Andrea Armstrong, Patrick Makuakāne, Imani Perry, Linsey Marr, Marr, Ian Bassin, Bassin, Tendayi, Rina Foygel Barber, Courtney Bryan, Jason D, María Magdalena Campos, Pons, Raven Chacon, Diana Greene Foster, Lucy Hutyra, Carolyn Lazard, Lester Mackey, Manuel Muñoz, Williams, Amber Wutich Organizations: MacArthur Foundation, University of Montevallo, NASA, Marlies Carruth, MacArthur Fellows, Loyola University New Orleans, College of Law, Black, Virginia Tech, Protect Democracy, MacArthur, Mexican American, Associated, Lilly Endowment Inc, AP Locations: Lexington , Kentucky, Alabama, Louisiana, Caribbean, Americas, Mexican, Central
UBS thinks Fiverr International can use a lead in job listings to pick up steam in 2024. The firm initiated the stock with a buy rating in a Tuesday note and a $33 per share price target. UBS' forecast implies more than 36% upside from Tuesday's $25.16 close. Analyst Kunal Madhukar said Fiverr's lead in overall job listings and higher trending multiples heading into 2024 underpinned his bullish forecast on the stock. FVRR YTD mountain Fiverr International stock.
Persons: Fiverr, Kunal Madhukar, Fiverr's, Madhukar, — CNBC's Michael Bloom Organizations: UBS, 2Q Locations: Fiverr, 1Q23
Why Wall Street investors are freaking out
  + stars: | 2023-10-04 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +8 min
Here’s why investors are freaking out:Rates and the Fed: A surge in corporate debt sales and rising bond yields have sent stocks lower. Moody’s, the only major credit rating firm to keep a perfect score for the United States, has warned that a government shutdown would be “credit negative” for the United States. Geopolitical risks are still elevated as Russia’s war on Ukraine continues and relations between the United States and China remain tense. October also marks the end of the fiscal year for many mutual funds in the United States. Statistical evidence doesn’t quite support the phenomenon, but the level of superstitious caution on Wall Street is real.
Persons: Kevin McCarthy, , Michael Reinking, Mark Twain, ” Sam Bankman, Sam Bankman, Allison Morrow, Judge Lewis Kaplan, , ” Kaplan, SFB, SBF, Caroline Ellison, Bernie Madoff, Chris Isidore, Vanessa Yurkevich Organizations: CNN Business, Bell, New York CNN, Dow, Federal Reserve, Fed, Markets, Republicans, , Prosecutors, GM, Ford, Motors, United Auto Workers, Michigan Assembly, Jeep, Dodge, Chrysler, UAW Locations: New York, America’s Congress, United States, Ukraine, China, Manhattan, Fairfax, Kansas City , Kansas, Toledo, Lockport, Michigan, Wayne , Michigan, Kokomo , Indiana
Lower rent prices and multi-decade-high mortgage rates mean that it's smarter to rent than buy in most large US cities right now, according to Realtor.com. Disparities between buying and renting stemmed from a split in how median costs changed in the last 12 months. "The advantage of renting became more pronounced in all rent-favoring markets," Xu and Hale wrote. But there were three cities where buying was actually cheaper than renting in August, according to Realtor.com: Memphis, Tennessee; Pittsburgh, Pennsylvania; and Birmingham, Alabama. Below are the 10 metro areas where renting makes more sense than buying right now, along with the median rent, the median monthly cost of buying and how it compares to renting, and the year-over-year changes for renting and buying.
Persons: Jiayi Xu, Danielle Hale, Xu, Hale, Realtor.com, Freddie Mac Locations: Realtor.com, Memphis , Tennessee, Pittsburgh , Pennsylvania, Birmingham , Alabama
This was most prevalent in first-quarter GDP data, before the government resolved the problem in 2018. GDP in the first quarter of 2020 was revised down to show it contracting at a 5.3% annualized rate, instead of the previously reported 4.6% pace. In the first quarter of 2021, GDP increased at a 5.2% rate rather than the previously published 6.3% pace, with consumer spending revised lower. In 2022, GDP contracted at a 2.0% rate in the first quarter, revised down from the previously reported 1.6% pace. The gap was less than 0.1% of GDP in 2022, revised from −0.6%.
Persons: Dave Wasshausen, Lucia Mutikani, Andrea Ricci Organizations: Analysis, BEA, Gross, Federal Reserve, Thomson
I spoke with veteran market watcher Tom McClellan, editor of the McClellan Market Report. It is seasonal factors, which are behaving almost exactly to the script. Is the market weakness mostly due to seasonal factors? That's happening right now, so that's getting cited in the news as the coincident factors but it's not really related. But that's not a good explanation anymore because farming is such a small portion of the economy, and yet the seasonal factors still work.
Persons: Tom McClellan, McClellan, we'll, that's, it's, You've, haven't, Tom Organizations: Fed Locations: California
In fact, the S & P 500's now-6% decline from its cycle peak began almost too perfectly, exactly as the often-tough month of August got underway, continuing into September, the worst month for stock performance through history. Similar reassuring stats are spit out when accounting for years when the S & P 500 was up more than 10% through July, or for pre-election years. The S & P 500 was oversold by some short-term measures, such as fewer than 15% of S & P 500 stocks sitting above their 10-day average price. That makes sense for sure, though it has meant that the equal-weighted S & P 500 is up only 1% this year and has tentatively broken a multiyear uptrend, while small-cap stocks are suffering worse still. And even for the market-cap-weighted S & P 500, the forward P/E is down from nearly 20 to 18 since late July, as prices have fallen, and analysts' forecasts have continued to plod higher.
Persons: doesn't, Ryan Detrick, there's, Goldman Sachs, abetted, Jerome Powell, It's, Ed Clissold, Ned Davis, Clissold Organizations: Carson, Treasury, Fed, Ned, Ned Davis Research Locations: Friday's, U.S
The S&P 500 (.SPX) tumbled 2.9% this week, its biggest weekly decline since March. High Treasury yields dull the allure of stocks by offering investors an attractive payout on an investment seen as virtually risk free. The S&P 500 entered what has historically been its weakest 10-day stretch of the year on Sept. 18, according to BofA Global Research. Meanwhile, a drawn out government shutdown could aggravate concerns over U.S. government gridlock and send Treasury yields even higher. He noted that the S&P 500 remains above its 200-day moving average and there have been few signs of investors fleeing to safety.
Persons: Charlie Ripley, Brian Jacobsen, , , Fitch, Keith Lerner, Adam Turnquist, David Randall, Ira Iosebashvili, David Gregorio Our Organizations: Federal Reserve, Fed, Investors, BoFA, Allianz Investment Management, Treasury, Annex Wealth Management, BofA Global Research, Societe Generale, LPL Financial, Thomson
US stocks ended slightly higher Friday to close out a losing week. Bond yields climbed on the week following the Fed's hawkish signaling Wednesday. Policymakers did not adjust interest rates this week, but another hike is on the table before 2024. Both oil prices and bond yields surged over the course of the week, with the 10-year Treasury hitting 4.49%, its highest mark since 2007. Once again, the move in rates has proven to be too much too fast for equity markets to handle."
Persons: Adam Turnquist Organizations: Service, Federal Reserve, Treasury, LPL Financial, Dow Jones Locations: Wall, Silicon
Credit card companies are racking up losses at the fastest pace in almost 30 years, outside of the Great Financial Crisis, according to Goldman Sachs. Credit card losses bottomed in September 2021, and while initial increases were likely reversals from stimulus, they have been rapidly rising since the first quarter of 2022. Since that time, it's an increasing rate of losses only seen in recent history during the recession of 2008. Of the past five credit card loss cycles, three were characterized by recessions, he said. Nash sees the most downside risk for Capital One Financial, followed by Discover Financial Services .
Persons: Goldman Sachs, Goldman, Ryan Nash, Nash, — CNBC's Michael Bloom Organizations: Federal Reserve Bank of New, Capital, Discover Financial Services Locations: Federal Reserve Bank of New York
We are buying 50 shares of Stanley Black & Decker (SWK) at roughly $83.75 each. With that in mind, we are adding to our position in Stanley Black & Decker . 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: Stanley Black, Decker, Jim Cramer's, It's, Larry Williams, Williams, Jim Cramer, Jim, Spencer Platt Organizations: Stanley, SWK, Treasury, CNBC, New York Stock Exchange, Getty, & ' $ Locations: New York City
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInterest rates stay higher because the economy's good and stocks are following suit: BMO's BelskiBrian Belski, chief investment strategist at BMO Capital Markets, joins 'Squawk on the Street' to discuss how the economy evades elevated rate risks, whether macroeconomic pressures could impact seasonality, and more.
Persons: BMO's, Brian Belski Organizations: BMO Capital Markets
The bond market just flashed a bullish signal that suggests a risk-on environment for stocks. The bullish signal is based on risky high-yield bonds outperforming relative to corporate bonds. The ratio between high-yield and corporate bond performance has exceeded its high set in February 2001, according to the chart. Bond market investors are usually the first group of investors to grow concerned about a deteriorating macro economic environment, well ahead of stock market investors. So as long as bond investors keep their cool, that should bode well for the broader stock market.
Persons: Stephen Suttmeier, Suttmeier, bode, Stocks Organizations: Bank of America, Service Locations: Wall, Silicon
The stock market just entered its weakest 10-day stretch of the year, according to Bank of America. The bank highlighted that the last 10 days of September are especially weak when the first half of the month is down. But seasonal data suggests the stock market can recover and have a better year-end after it escapes September. The S&P 500 is already down 0.60% so far this week. With no major support levels having yet been broken in the stock market, Suttmeier maintains his bullish tilts towards equities, with the view that the S&P 500 is still in a secular bull market that could last for a few more years.
Persons: bode, Stephen Suttmeier, shouldn't, Suttmeier Organizations: Bank of America, Service Locations: Wall, Silicon
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Solus' Dan Greenhaus, CIC Wealth's Malcolm Ethridge and Crossmark's Victoria GreeneDan Greenhaus, Solus Alternative Asset Management chief strategist, Malcolm Ethridge, CIC Wealth Executive Vice President, and Victoria Greene, G Squared Private Wealth CIO, join 'Closing Bell' to discuss markets, seasonality and sentiment, and more.
Persons: Solus, Dan Greenhaus, Malcolm Ethridge, Victoria Greene Dan Greenhaus, Victoria Greene Organizations: Asset Management, Private Wealth
Market is starting to feel heavy: Solus' Dan Greenhaus
  + stars: | 2023-09-19 | 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 EmailMarket is starting to feel heavy: Solus' Dan GreenhausDan Greenhaus, Solus Alternative Asset Management chief strategist, joins 'Closing Bell' to discuss markets, seasonality and sentiment, and more.
Persons: Dan Greenhaus Dan Greenhaus Organizations: Asset Management
LME copper stocks and Cash-3s time-spreadSUMMER SURGEAlmost 100,000 metric tons of copper have been warranted in the LME warehouse network since the middle of July, lifting headline stocks to 149,600 metric tons. European inflows have been split between Rotterdam (19,325 metric tons) and the German port of Hamburg (9,850). The CME's delivery locations, however, don't include Mobile, Alabama, where LME copper stocks have grown to 1,925 metric tons. The amount of cancelled stock awaiting physical load-out from the LME warehouse system currently stands at a minimal 225 metric tons. LME, LME shadow, CME, ShFE and INE copper stocksCHINA OFFSETThe copper stocks surge has to date been largely confined to the LME delivery system.
Persons: Emelia Sithole Organizations: London Metal Exchange, Mobile, CME, Shanghai Futures Exchange, International Energy Exchange, Shanghai, Reuters, Thomson Locations: Europe, United States, China, Rotterdam, Hamburg, Asia, Kaohsiung, Busan, New Orleans, Mobile , Alabama, London, ShFE, CHINA
Goldman Sachs expects the stock market is about to get even bumpier from here — and recommends ways for investors to capitalize on the turbulence. "We expect volatility to increase over next few weeks," John Marshall, head of derivatives research at the firm, wrote Monday. While the CBOE Volatility Index, or VIX, a popular measure of volatility, is down about 35% in 2023, the Wall Street firm expects that a deteriorating macroeconomic backdrop and seasonal volatility will drive it up. The CBOE Volatility Index was last hovering around 14. "Buy CBOE Volatility Index (VIX) Oct monthly expiry $15 calls to hedge potential rise in volatility," the firm's Arun Prakash wrote in a Thursday note.
Persons: Goldman Sachs, John Marshall, Marshall, Arun Prakash, Prakash, CNBC's Michael Bloom
For active traders who like to time buying and selling around seasonal events, the next few weeks are Market Timing Heaven. The volatility is encapsulated in one of the more enduring seasonal trades: Sell Rosh Hashanah (which begins at sundown Friday this year), buy Yom Kippur (Sept. 25). Traders sell positions due to seasonal weakness at the start of Rosh Hoshanah, then return to the market after Yom Kippur. The period from Yom Kippur to Passover, which starts on April 22, 2024, is traditionally an up period, good for an average gain of 6.9%. It means market timers expecting seasonal weakness for the next few weeks are also expecting seasonal strength in the fourth quarter.
Persons: Rosh Hoshanah, Jeff Hirsch, Hirsch, Tom McClellan, McClellan, Todd Sohn Organizations: Triple, Triple Witching, Federal, Traders Locations: Yom, Rosh, Yom Kippur, Strategas
But don’t worry if you missed out — falling ticket prices could make fall the better time to fly. Airfare to top international destinations will drop in the fall as well, with prices to Europe down 31% from summer peaks — nearly $330 off ticket prices. Known as “shoulder season,” airfare typically drops in the fall as demand cools off after the busy summer months. The three major US international airlines — American, Delta and United — all saw a surge in international traffic in recent months and added additional service to meet demand. One factor that could cause ticket prices to increase, however, is rising fuel prices.
Persons: , Hopper Organizations: New, New York CNN, Spirit Airlines, , Federal, , Frontier Airlines, American Airlines, Labor Locations: New York, Europe, Hopper, Delta, United, America
The stock market is poised to hit new 2023 highs by the end of the year, according to Bank of America. The bank said a leading bond market indicator just flashed a bullish signal for the stock market. That's a leading indicator for the stock market because bond investors are typically the first in the market to panic about some type of macro event that could lead to pain for equities. And when bond investors panic, they demand higher yields for the debts that they buy. AdvertisementAdvertisementAlso boding well for the stock market and further potential upside is the fact that defensive sectors like utilities and consumer staples are falling and breaking support levels.
Persons: BofA, That's, Suttmeier Organizations: Bank of America, Service, Bloomberg Locations: Wall, Silicon
September is historically considered the worst month of the year for stocks, in what is known as the "September Effect." But this year, market experts appear divided over whether US equities will repeat the pattern or defy it. AdvertisementAdvertisementEd Yardeni, president of Yardeni Research"On Sunday, we observed that September is a good month for picking apples. Among things that could go wrong for investors this month, Yardeni highlighted rising oil prices, inflation risks, and China's faltering economy. David Rosenberg, founder of Rosenberg ResearchIn contrast, top economist Rosenberg has long-warned about a looming crash in in stocks.
Persons: Ed Yardeni, Yardeni, it's, Santa Claus, Tom Lee, Fundstrat's Tom Lee, Lee, we're, Stephen Suttmeier, Suttmeier, Jeremy Siegel, Wharton, Siegel, David Rosenberg, Rosenberg Organizations: Service, CFRA Research, Yardeni, Investor, Federal Reserve, Bank of America, " Bank of America, Fed, Rosenberg Research Locations: Wall, Silicon, Septembers, Santa
.SPX YTD mountain S & P 500 YTD My last column before a late-summer hiatus, published July 15 with the S & P about 1% higher than Friday's close, began: "Enough for now? There's been no net progress since then after a modest push higher, 5% pullback and partial bounce. There's no doubt the market is sensitive to these yield moves, unsure how the economy and market might handle them. There's an insistence among plenty of cautious market participants that stocks are only as high as they are because eventual Fed rate cuts are anticipated. Not to be too literal, but this at least would suggest some more seasonal choppiness before a potential break higher.
Persons: There's, Oleg Melentyev, , Goldman Sachs, Tony Pasquariello, China's Organizations: Federal Reserve, U.S ., Federal, Treasury, Labor, Bank of, UAW, Atlanta Fed, Investment Locations: Europe, China, U.S
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