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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Apollo Global's Torsten Slok and Edward Jones' Mona MahajanTorsten Slok, Apollo Global Management chief economist, and Mona Mahajan, Edward Jones senior investment strategist, join 'Squawk on the Street' to discuss what to expect from next week's Federal Reserve meeting, what could be a risk ahead for equity investors, and more.
Persons: Apollo Global's Torsten Slok, Edward Jones, Mona Mahajan Torsten Slok, Mona Mahajan Organizations: Apollo Global Management, Reserve
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed will be reluctant to declare 'mission accomplished': Edward Jones' Mona MahajanTorsten Slok, Apollo Global Management chief economist, and Mona Mahajan, Edward Jones senior investment strategist, join 'Squawk on the Street' to discuss what to expect from next week's Federal Reserve meeting, what could be a risk ahead for equity investors, and more.
Persons: Edward Jones, Mona Mahajan Torsten Slok, Mona Mahajan Organizations: Apollo Global Management, Reserve
Prime Minister Justin Trudeau said on Thursday he had invited the heads of Canada's five largest grocery chains, including Sobeys (EMPa.TO), Metro (MRU.TO) and Loblaw (L.TO), to Ottawa next week to discuss how they planned to control sky-rocketing food prices. Trudeau's move comes when governments across the globe, especially in Europe, have expressed concern over soaring food prices as they seek to address a cost-of-living crisis that has intensified after the pandemic subsided and since the Russia-Ukraine war began. However, after a similar move from the French government in June, analysts were skeptical about Trudeau's warning. They argued it was a "political" tactic and might be ineffective in lowering lingering food inflation. "Both PM Justin Trudeau and François-Philippe Champagne (Canada's industry minister) spoke tough about this topic and it is difficult to envision what teeth they have to hold grocers accountable," said Ben Jang, portfolio manager at Nikola Wealth.
Persons: Justin Trudeau, Trudeau's, François, Philippe Champagne, Ben Jang, Michael Ashley Schulman, Allan Small, Granth Vanaik, Pooja Desai Organizations: Metro, Loblaw, Nikola Wealth, Running, Capital Advisors, iA, Wealth, Carrefour, Lipton, Nestle, PepsiCo, Unilever, Thomson Locations: Ottawa, Europe, Russia, Ukraine, Bengaluru
Futures connected to the Dow Jones Industrial Average added 32 points, or 0.09%. S&P 500 futures and Nasdaq-100 futures hovered near the flatline. The Dow jumped 331.58 points, or 0.96%, rising for the first time in three sessions and notching its best daily performance in over a month. Elsewhere, the headline producer price index grew 0.7% in August, coming in above economists' expectations for 0.4%, per Dow Jones. U.S. crude oil prices jumped nearly 2% and rose above $90 a barrel for the first time since November.
Persons: Dow, Dow Jones, Mona Mahajan, Edward Jones, eking, Stocks Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Adobe, Holdings, Dow, Industrial
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. In the 12-months through August, the CPI jumped 3.7%, though year-on-year consumer prices have come down from a peak of 9.1% in June 2022. Markets now anticipate that the Fed will cut rates for the first time in July 2024, compared with expectations a month ago that rates would begin falling by March. “Earnings are what matter from here, particularly with an AI sector that needs to justify expectations." Reporting by David Randall; Editing by Ira Iosebashvili and Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.
Persons: Brendan McDermid, Alex McGrath, Kevin Gordon, Charlie McElligott, , David Randall, Ira Iosebashvili, Sharon Singleton Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Futures, Treasury, U.S ., Schwab Center, Financial Research JPMorgan, Nomura, Nvidia, Companies, Thomson Locations: New York City, U.S
"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
The Standard Chartered bank logo is seen at their headquarters in London, Britain, July 26, 2022. The change in CFO will not likely impact Winters' departure timing greatly, Britzman said, with the StanChart CEO more focused on hitting the lender's key performance goals. De Giorgi previously held senior roles at Bank of America Merrill Lynch, including head of global investment banking. Before then, he worked in equity capital markets and financial institutions at Goldman Sachs (GS.N), rising to become chief operating officer for the investment bank by the time of his departure in 2012. That long period of underperformance has seen the bank's shares fall nearly 30% since Winters took over as CEO in June 2015.
Persons: Peter Nicholls, Diego De Giorgi, Andy Halford, De Giorgi, Halford, Matt Britzman, Hargreaves, Bill Winters, Frederic Oudea's, Winters, Britzman, We've, Bank of America Merrill Lynch, Goldman Sachs, Joe Dickerson, StanChart, underperformance, Iain Withers, Lawrence White, Radhika Anilkumar, Bernadette Baum, David Holmes Organizations: Chartered, REUTERS, Bank of America, Pegasus, British, Societe Generale, Goldman, Jefferies, Thomson Locations: London, Britain, Pegasus Europe, Asia, Africa, Bengaluru
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTreasury volatility will continue to spill over into stocks, strategist saysDes Lawrence, senior investment strategist at State Street Global Advisors, discusses the outlook for U.S. equities.
Persons: Des Lawrence Organizations: State Street Global Advisors
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. The S&P 500 climbed 0.38% to end at 4,514.87 points. Of the 11 S&P 500 sector indexes, nine rose, led by information technology (.SPLRCT), up 0.83%, followed by a 0.51% gain in energy (.SPNY). Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 1.9-to-one ratio. The S&P 500 posted 24 new highs and one new low; the Nasdaq recorded 70 new highs and 76 new lows.
Persons: Brendan McDermid, Rob Haworth, Haworth, Brown, Forman, BFb.N, Jack Daniels, Shristi Achar, Noel Randewich, Savio D'Souza, Vinay Dwivedi, Richard Chang Organizations: New York Stock Exchange, REUTERS, Visa, Mastercard, Nasdaq, Dow, U.S, Bank Wealth Management, Nvidia, HP Inc, Traders, Treasury, Dow Jones, Investors, Monday's U.S, Labor, Thomson Locations: New York City, U.S, Monday's, Bengaluru, Oakland, Calif
People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. Horizon's shares rose 5.5%. Advancing issues outnumbered decliners for a 3.82-to-1 ratio on the NYSE and a 1.78-to-1 ratio on the Nasdaq. The S&P index recorded seven new 52-week highs and no new low, while the Nasdaq recorded 43 new highs and 101 new lows. 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, Roosevelt Bowman, Gina Raimondo, Wang Wentao, Goldman Sachs, decliners, Shristi Achar, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Bernstein Private Wealth Management, Traders, Fed, Nvidia, U.S, Baidu, U.S . Commerce, Intel, Micron, Chinese Commerce, Intel's, Dow Jones, U.S . Federal Trade Commission, Horizon Therapeutics, Creative Planning, NYSE, Thomson Locations: New York City, U.S, China, Bengaluru
Investors and economists are bullish that consumer spending, the US economy’s main engine, won’t deteriorate too much, which should help stocks avoid a massive sell-off this year. The US Labor Department releases July figures on job openings, quits, hires and layoffs. The US Commerce Department releases July data on household spending, income and the Fed’s preferred inflation gauge. The US Labor Department reports the number of new applications for jobless benefits in the week ended Aug. 26. Friday: The US Labor Department releases August figures on the labor market, including monthly payroll gains, wage growth, and the unemployment rate.
Persons: “ We’re, we’ve, ” Matthew Palazzolo, we’re, We’re, ” Palazzolo, pare, It’s, Biden, Jerome Powell, Sinead Colton Grant, Anna Cooban Organizations: CNN Business, Bell, DC CNN, Federal Reserve, US, Bernstein Private Wealth Management, CNN, Nvidia, Research, Fed, Kansas City, San Francisco Fed, Mellon, International Monetary Fund, Global, US Labor Department, Board, US Commerce Department, National Association of Realtors, China’s National Bureau of Statistics, P Global, Institute for Supply Management Locations: Washington, Wells Fargo, Jackson Hole , Wyoming, American, Germany, Europe, Berlin
And hedge fund manager David Neuhauser of Livermore Partners told CNBC's " Street Signs Asia " that the "best asset class" is oil stocks. Typically, in a recession, oil prices could dive to $50 a barrel, he said. Stocks to buy Neuhauser said Livermore owns small-cap energy stocks Kolibri Global and Vista Energy — because of limited supply and strong returns on capital, as well as low valuations. Still, energy stocks are an option for investors seeking inflation protection, Dietze said. He said energy stocks are "a far superior alternative" to Treasury Inflation-Protected Securities.
Persons: BofA, David Neuhauser, CNBC's, Neuhauser, Livermore, David Dietze, Dietze, Warren Buffett's Berkshire Hathaway, subsector, That's, — CNBC's Michael Bloom Organizations: Livermore Partners, Vista Energy, Wealth Management, Exxon, Mizuho, Securities, Dominion Energy Locations: Chevron, U.S, Wednesday's, Saudi
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCharles Schwab's Kevin Gordon: Investing based on a Fed pause isn't a good strategyKevin Gordon, Charles Schwab senior investment research manager, joins 'Closing Bell' to discuss rising yields and what it means for the bond market.
Persons: Charles Schwab's Kevin Gordon, Kevin Gordon, Charles Schwab
Stock futures are near flat Tuesday night as investors awaited on the latest crop of corporate earnings reports from well-known names including Nvidia . S&P 500 and Nasdaq 100 futures also each climbed 0.1%. The moves follow a mixed session on Wall Street. The S&P 500 and Dow slid around 0.3% and 0.5%, respectively. Of the more than 95% of S&P 500 companies that have delivered results, about four out of five have exceeded Wall Street expectations.
Persons: Foot, Kohl's, Fitch, Snowflake, Dow, Macy's, Lowe's, Rob Haworth, They'll, Jerome Powell Organizations: New York Stock Exchange, Stock, Nvidia, Dow Jones Industrial, Nasdaq, Urban Outfitters, Retail, Abercrombie, Dick's Sporting Goods, U.S . Bank Locations: what's, Jackson Hole , Wyoming
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're seeing a controlled market pullback right now, says Edward Jones' Mona MahajanMona Mahajan, Edward Jones senior investment strategist, joins 'Squawk on the Street' to discuss her forecast for August, what seems reasonable in expectations for next year, and more.
Persons: Edward Jones, Mona Mahajan Mona Mahajan
CNBC Daily Open: There is an alternative
  + stars: | 2023-08-15 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +2 min
Nvidia Stock Soar | Future Publishing | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Rather, it was "a pause that refreshes" — a healthy adjustment to "oversold market conditions," Stoltzfus wrote. "Fixed income just looks relatively attractive, especially [relative to] where [we] were just a couple of years ago," said Kevin Gordon, senior investment strategist at Charles Schwab . Whatever choice investors make, then, it's made under a backdrop of heathy conditions — something rare since the pandemic.
Persons: chipmakers, that's, Oppenheimer, John Stoltzfus, Stoltzfus, Kevin Gordon, Charles Schwab, Ashish Shah, it's, Adam Crisafulli Organizations: Nvidia, Future, CNBC, Dow Jones, Nasdaq, Treasury, Goldman Sachs Asset Management Locations: Hangzhou, China, U.S
Maeve Duvally is a former Goldman Sachs executive who came out as transgender in 2019. For most of my career at Goldman Sachs, I commuted from Pound Ridge into the City, got off the train and jogged to work. Rushing toward the exit, I nearly bumped into a Goldman Sachs hospitality person who I didn't really recognize though I probably passed him several times a week. I crept out of the auditorium and willed myself to the last obstacle, the turnstiles, after which I was free of Goldman Sachs and worry. Maeve DuVally is a former Goldman Sachs executive and author of "Maeve Rising: Coming Out Trans in Corporate America."
Persons: Maeve Duvally, Goldman Sachs, Maeve, Hugo Boss, Clark Kent, Maeve DuVally Organizations: Goldman, Corporate, City, AA, Wonder, Bloomberg Locations: Atacama, Asia
REUTERS/Brendan McDermid//File PhotoSummaryCompanies US-listed China stocks fall as stimulus measures disappointFutures mixed: Dow up 0.02%, S&P down 0.06%, Nasdaq down 0.16%Aug 11 (Reuters) - U.S. stock index futures were subdued on Friday as investors awaited producer prices data that could offer more clarity on the Federal Reserve's rate hike path. Investors are now focused on the producer prices data due at 8:30 a.m ET that will offer more insight into inflation in the world's largest economy. U.S. Labor Department's producer price index (PPI) for final demand, is expected to rise 0.2% in July, after growing 0.1% in June. "This (PPI) data set is something of a crystal ball for consumer price inflation; when producers charge more for goods the higher costs are usually passed on to households." "Higher yields incentivize investors to park their cash in the safety of bonds, and therefore decreases demand for risky plays like equities."
Persons: Brendan McDermid, Russ Mould, AJ Bell, Marios Hadjikyriacos, Bansari Mayur Kamdar, Johann M, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Benchmark, Labor, PPI, Dow e, Nvidia, Treasury, XM, Thomson Locations: New York City, U.S, China, JD.com, Bengaluru
Treasury yields and stocks have more upside ahead, according to some Wall Street investors, and annuities are yielding more than ever. So if you're nearing — or already in — retirement, which offers the best source of income? Stocks vs. annuities David Dietze, senior investment strategist at Peapack Private Wealth Management, recommended annuities and stocks — with some caveats. Right now, however, Rekenthaler said he would go for annuities, bonds or funds because real interest rates are high. Treasurys Samana of Wells Fargo Investment Institute said she likes Treasurys best — given the firm's expectations of a recession.
Persons: David Dietze, Dietze, John Rekenthaler, Rekenthaler, Samana, Morningstar Organizations: CNBC, Wealth Management, Morningstar, Securities, Wells, Wells Fargo Investment Institute, ExxonMobil, Shell Locations: Wells Fargo, U.S, Samana
An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. Brent crude was 54 cents, or 0.6%, higher at $86.71 by 1110 GMT having touched $87.09, the highest since April 13. Crude posted its sixth consecutive weekly gain last week helped by a reduction in OPEC+ supplies and hopes of stimulus boosting oil demand recovery in China. "There is no doubt that there is plenty of momentum here," said Naeem Aslam, chief investment officer at Avatrade. On Tuesday, oil also came under pressure from Chinese data showing crude oil imports in July fell 18.8% from the previous month to their lowest daily rate since January, although they were up 17% from a year earlier.
Persons: Brent, Charalampos Pissouros, Naeem Aslam, Yuka Obayashi, Andrew Hayley, Bernadette Baum, Kirsten Donovan Organizations: Saudi, XM, . West Texas, Organization of, Petroleum, American Petroleum Institute, Official U.S . Energy, Thomson Locations: Zhoushan, Zhejiang province, China, Saudi, Russian, Saudi Arabia, Russia, U.S, OPEC, Tokyo, Beijing
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe think the market is in the beginning stages of a bull market phase: Edward Jones' Mona MahajanMona Mahajan, Edward Jones senior investment strategist, joins 'Squawk Box' to discuss the latest market trends, rest of year outlook, and more.
Persons: Edward Jones, Mona Mahajan Mona Mahajan
A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. U.S. stocks have sharply rallied in 2023, with the benchmark S&P 500 (.SPX) clocking 17% gains year to date, fueled by optimism around artificial intelligence and hopes of a soft landing for the world's largest economy. "But in the service side, it's been pretty sticky and that's one reason why it's taking a lot longer for inflation to subside." Reuters GraphicsOverall, second-quarter earnings have been better-than-expected so far, with 79.1% of the 422 S&P 500 companies that have reported as of Friday beating analysts' estimates, according to Refinitiv data. The S&P index recorded 17 new 52-week highs and seven new lows, while the Nasdaq recorded 46 new highs and 128 new lows.
Persons: Brendan McDermid, Dow, Charlie Ripley, it's, John Williams, Michelle Bowman, Vaibhav, Zachary Kirkhorn, Berkshire Hathaway, Warren Buffett, Tyson, packer, Bansari Mayur Kamdar, Johann M, Saumyadeb Chakrabarty, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Berkshire, Tyson, Dow, Nasdaq, Federal, CPI, Allianz Investment Management, York Fed, Dow Jones, Apple, Reuters, Sage Therapeutics, Tyson Foods, Yellow Corp, NYSE, Thomson Locations: New York City, U.S, Bengaluru
A gentle downtrend in foreign direct investment gave way to a steep drop last quarter and inflows to China slammed to their lowest since records began 25 years ago, raising the prospect that the long-term trend is turning. Sources have told Reuters the Biden administration is likely to adopt new outbound investment restrictions on China in the coming weeks. Japan, the U.S. and Europe have already restricted the sale of high-tech chipmaking tools to Chinese companies while China has hit back by throttling exports of raw materials. To be sure, investment flows often fluctuate and many firms aren't leaving China completely or aren't leaving at all. "A lot of our clients are worried about their exposure to China as a sole country of supply."
Persons: Carlos Barria, Deng Xiaoping, Logan Wright, Biden, John Ramig, Buchalter, Daniel Seeff, Cardigan, Chi Lo, Lee Smith, Baker Donelson, Samuel Shen, Tom Westbrook, Winni Zhou, Jacqueline Wong Organizations: REUTERS, Corporate, China Markets, China's, Administration of Foreign Exchange, Investors, Reuters, Oxford Economics, Ministry of Commerce, Management, Thomson Locations: Pudong, Shanghai, SHANGHAI, SYDNEY, China, Japan, U.S, Europe, Haining, Peru, Hong Kong, Baker, Singapore
Futures linked to the tech-heavy index rose about 0.2%, as did S&P 500 futures . A deluge of earnings reports released after the bell sent individual stocks moving. Beyond mega-cap tech, Airbnb slid after the company said nights and experiences booked grew at a slower rate than Wall Street anticipated. Roughly 79% of S&P 500 companies have given results, with about 80% surpassing Wall Street expectations, according to FactSet. The Nasdaq Composite and S&P 500 — down about 2.5% and 1.8%, respectively — are poised to post their worst weekly performances since March.
Persons: Airbnb, Rob Haworth, Haworth, Dow Jones, nonfarm, Organizations: New York Stock Exchange, Nasdaq, Dow Jones, Amazon, Apple, Wall, Traders, Investors, Federal Reserve, U.S . Bank, Treasury, Dow
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe don't expect the Japanese 10-year government bond yield to top 1.5%, says StanChartAbhilash Narayan, Standard Chartered director and senior investment strategist, discusses the Bank of Japan's recent changes to its yield curve control policy.
Persons: StanChart Abhilash Narayan Organizations: Bank of
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