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☆ Behold Wall Street's new bull market, maybe
▼ + stars: | 2023-06-08 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +3 min

Part of the uncertainty is that there is no set definition of a bull or bear market, or any sort of regulatory body that declares one, such as the National Bureau of Economic Research (NBER) does with recessions. The most commonly accepted definition is a 20% rise off a low for a bull market and a 20% decline from a high for a bear market, but even that is open to interpretation. "I just think it was a blip within a longer-term bear market." "Certainly it's a bull market in big-cap technology. I wouldn't call it a bull market in a broad market sense, because there are only certain stocks that are really in what we would call bull market territory, and it's just not a broad enough move to call it a sustainable bull market," said Tim Ghriskey, senior portfolio strategist Ingalls & Snyder in New York.

Persons: Howard Silverblatt, Dow, Silverblatt, Sam Stovall, Stovall, Dan Suzuki, Richard Bernstein, Suzuki, it's, Tim Ghriskey, Ingalls, Snyder, Ned Davis, Chuck Mikolajczak, Noel Randewich, Lewis Organizations: YORK, National Bureau of Economic Research, Reuters Graphics Reuters, Dow Jones, Richard, Richard Bernstein Advisors, Nvidia, Ned Davis Research, Thomson Locations: New York

☆ BMO raises S&P 500 outlook, says 'all the doom and gloom' has yet to happen
▼ + stars: | 2023-06-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

The stock market's strength in 2023 is giving BMO Capital Markets reason to turn more bullish on the setup going forward. But even after a slew of significant rate increases, signs point to easing inflation and a strong and a resilient labor market, Belski said. .SPX YTD mountain S & P 500's 2023 performance "In other words, we believe the anticipated recipe for disaster is simply not present," he wrote. "So, from our perspective, all the worries that damaged 2022 market performance are slowly beginning to subside." "So, despite an extremely strong YTD sector performance, we believe the momentum, even if it slows a bit, is likely persist for the foreseeable future."

Persons: Brian Belski, CFRA's Sam Stovall, Belski, Price, — CNBC's Michael Bloom Organizations: BMO Capital, Federal Reserve Locations: Tech

SummarySummary Companies Palo Alto gains on S&P 500 index inclusionApple climbs ahead of developer conferenceIndexes: Dow down 0.25%, S&P up 0.22%, Nasdaq up 0.46%June 5 (Reuters) - The S&P 500 and the Nasdaq rose on Monday, as Apple scaled an all-time peak and investors weighed up chances of the Federal Reserve pausing interest rate hikes at its upcoming policy meeting. Other growth stocks also rose, with Alphabet Inc (GOOGL.O) gaining 1.8% and Amazon.com Inc (AMZN.O) adding 0.9%. Palo Alto Networks Inc (PANW.O) climbed 5.5% as the cybersecurity firm looks set to replace Dish Network (DISH.O) in the S&P 500 index. Declining issues outnumbered advancers for a 1.56-to-1 ratio on the NYSE and for a 1.35-to-1 ratio on the Nasdaq. The S&P index recorded 14 new 52-week highs and two new lows, while the Nasdaq recorded 70 new highs and 32 new lows.

Persons: Thomas Hayes, Sam Stovall, advancers, Sruthi Shankar, Shristi, Vinay Dwivedi, Anil D'Silva Organizations: Palo, Dow, Nasdaq, Apple, Apple Inc, Alphabet Inc, Amazon.com Inc, Great, Capital, Institute for Supply Management, CFRA Research, Dow Jones, Palo Alto Networks, Dish Network, Big, Wall Street Journal, Tesla Inc, NYSE, Thomson Locations: U.S, Washington, Big U.S, China, Bengaluru

☆ Premarket stocks: The Fed can't figure out what's happening with the job market
▼ + stars: | 2023-06-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New data out Wednesday showed that job openings and hiring both rose in April, while unemployment sits near 53-year lows. What’s happening: The number of available jobs in the United States rose unexpectedly in April after three months of declines. Job openings climbed to 10.1 million in April, according to data released Wednesday by the Bureau of Labor Statistics. Fed Chair Jerome Powell has said that he wants to see more slack in the labor market. “I love what I do,” Dimon told Bloomberg, adding he’s “quite happy” in his current job.

Persons: won’t, —, Jerome Powell, Philip Jefferson, ”, Jefferson, Mark Hamrick, “, Sam Stovall, David Kotok, Joe Biden, It’s, Mitch McConnell, ” Biden, Biden, Jamie Dimon, Elon Musk, Dimon, he’s, ” Dimon, Matt Egan, he’d Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Bureau of Labor Statistics, BLS, Fed, Index, Commerce Department, FedWatch, Cumberland Advisors, Senate, ”, JPMorgan, Bloomberg Television, Bloomberg Locations: New York, China, Europe, United States, America

The S&P 500 (.SPX) index closed flat but remained near its highest level since August 2022, just above 4,200 points. The S&P 500 and the Nasdaq were still set for monthly gains in May. Over the weekend, U.S. President Joe Biden and Republican House of Representatives Speaker Kevin McCarthy agreed to temporarily suspend the debt ceiling and cap some federal spending. But I firmly believe a debt ceiling agreement will be approved before the June 5 drop dead date." Only four of the S&P 500's 11 sectors were higher, while declining stocks outweighed advancing shares on both the S&P 500 and Nasdaq.

Persons: Joe Biden, Kevin McCarthy, McCarthy, Sam Stovall, Anthony Saglimbene, Thomas Hayes, FEDWATCH, Elon Musk, Shreyashi Sanyal, Shashwat Chauhan, Shounak Dasgupta, Maju Samuel, David Gregorio Our Organizations: Dow Jones, Nasdaq, Republican, Republicans, Nvidia Corp, Reuters Graphics Reuters, Digital, Federal, Semiconductor, Nvidia, Great, Capital, Labor, Thomson Locations: New York, Troy , Michigan, Philadelphia, China's, Beijing, Bengaluru

☆ Stovall: If the U.S. defaults on its debt, all S&P 500 sectors will likely fall
▼ + stars: | 2023-05-22 | 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 EmailStovall: If the U.S. defaults on its debt, all S&P 500 sectors will likely fallSam Stovall, CFRA Chief Investment Strategist, discusses potential catalysts for the markets this week.

☆ Bank of America hikes year-end target for S&P 500, citing focus by companies on efficiency and A.I.
▼ + stars: | 2023-05-21 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

In a note to clients on Sunday, Bank of America strategist Savita Subramanian hiked her year-end price target for the S & P 500 to 4,300 from 4,000. The S & P 500 is already up more than 9% year-to-date. .SPX YTD line The S & P 500 has gained more than 9% in 2023. The new target puts Bank of America above the average in the CNBC Market Strategist Survey . The highest target among major Wall Street firms is still 4,575 from CFRA's Sam Stovall.

☆ US stocks close lower after Republicans and the White House hit an impasse in debt-ceiling talks
▼ + stars: | 2023-05-19 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

US stocks fell Friday after talks in Washington over raising the debt ceiling were paused. "We've got to get movement by the White House and we don't have any movement yet," House Speaker Kevin McCarthy said. Stocks earlier this week hit a nine-month high on hopes a debt-limit deal was in reach soon. Republican House Speaker Kevin McCarthy said talks with the Biden administration had reached a standstill. "We've got to get movement by the White House and we don't have any movement yet," McCarthy said at the Capitol, according to the Associated Press.

☆ Wall St dips, Treasury yields climb on mixed data; debt ceiling talks take spotlight
▼ + stars: | 2023-05-16 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, May 15, 2023. Meanwhile, disappointing results from Home Depot (HD.N), combined with weaker-than-expected retail sales data suggested consumer spending is losing some momentum as restrictive monetary policy dampens demand. However, a core measure of retail sales suggested the American consumer continues to bolster the economy. U.S. Treasury yields continued to climb on the heels of the Retail Sales data, suggesting that the Fed's efforts to toss cold water on the economy in order to rein in inflation has yet to take full effect. The greenback edged higher against a basket of world currencies after the weaker-than-expected retail sales data, shifting focus to the partisan debt ceiling wrangling unfolding in Washington.

☆ Stock futures are slightly higher as Wall Street focuses on debt ceiling negotiations: Live updates
▼ + stars: | 2023-05-16 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Stock futures are modestly higher Tuesday night as investors awaited news of developments in the negotiations between congressional leaders and President Joe Biden on the U.S. debt ceiling. S&P 500 futures and Nasdaq-100 futures each gained 0.1%. The president also canceled the second leg of an upcoming international trip given the negotiations, the White House said. Disappointing quarterly revenue and a lower forecast for full-year performance from Dow member Home Depot also soured investor sentiment in Tuesday's session. In addition to tracking any updates on debt ceiling negotiations, investors will watch for data on housing starts and building permits on Wednesday.

☆ Markets think falling inflation means rate cuts are around the corner. Here's why that's probably wrong.
▼ + stars: | 2023-05-13 | by ( Carla Mozée | ) www.businessinsider.com time to read: +4 min

Expectations that the Fed will start cutting interest rates in July briefly spiked up to 50% this past week. But the Fed is unlikely to swing from 10 straight rate hikes to cuts within two months, a Truist Advisory economist said. The probability spiked to nearly 50% over the past week after the release of the April inflation report and another sell-off in regional bank stocks like PacWest. That's when policymakers thought they got a handle on high inflation after an initial round of rate hikes. What's likely to jumpstart rate cuts is job losses, which could arrive toward the end of this year, Skordeles said.

☆ Wall Street's official stock market outlook — The latest CNBC Market Strategist Survey
▼ + stars: | 2023-05-11 | by ( Michael Bloom | ) www.cnbc.com time to read: 1 min

Where do the sharpest minds on Wall Street believe the market is headed? The CNBC PRO exclusive Market Strategist Survey is a roundup of year-end targets for the S & P 500 from top Wall Street strategists, updated quarterly, or whenever there is a material change to the forecasts. Here are the current 2023 targets from top strategists. Maximum target: 4,575 — Sam Stovall, CFRA Minimum target: 3,725— Venu Krishna, Barclays Average target: 4,147 Median Target: 4,100

☆ Opinion: For women, it’s past time to give up the ghost of equality
▼ + stars: | 2023-05-06 | by ( Opinion Marcie Bianco | ) edition.cnn.com time to read: +11 min

CNN —The Equal Rights Amendment (ERA), which states that equal rights under the law cannot be denied on account of sex, has been in a perpetual state of limbo for 100 years. And worldwide, those dreaming of gender equality will have to wait another 300 years, according to the latest United Nations estimates. Arguably, billionaires will land on Mars before we achieve gender equality. With odds like those, it’s well worth asking: What does “achieve gender equality” even mean? It’s past time to give up the ghost of equality and pursue a goal that has hope of transforming women’s lives for the better: freedom.

Top of mind: inflation and the impact of a credit tightening Fed officials feel is still evolving in the wake of both higher interest rates and a financial sector rattled by the recent failure of three U.S. banks. "The case of avoiding a recession is in my view more likely than that of having a recession," Powell said. The shift in the Fed's approach was reflected in U.S. interest rate futures, which showed broad expectations for no hikes at either of the central bank's next two policy meetings. U.S. stocks initially held onto gains after the release of the Fed statement, but fell later in the afternoon and closed lower. "With the word 'determining' in place of 'anticipating,' (it) is essentially telling the markets that the Fed is now on pause."

The unanimous decision lifted the Fed's benchmark overnight interest rate to the 5.00%-5.25% range, the tenth consecutive increase since March 2022. Because of that, Powell said it's too soon to say the rate hike cycle is over. Economic growth remains modest, but "recent developments are likely to result in tighter credit conditions for households and businesses and to weigh on economic activity, hiring and inflation," the Fed said. The shift was reflected in U.S. interest rate futures prices, which showed broad expectations for no hikes at either of the Fed's next two meetings. "With the word 'determining' in place of 'anticipating' is essentially telling the markets that the Fed is now on pause."

☆ Instant View: Fed hikes another 25 basis points, hints it may be the last increase
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +7 min

TOM GARRETSON, STRATEGIST, RBC PORTFOLIO ADVISORY GROUP, MINNEAPOLIS, MINNESOTA"It was a pretty dovish rate hike today. The expectations were that it might be a bit more of a hawkish rate hike in terms of leaving the door open to further hikes if needed." "The updated language in the policy statement does suggest the bar is going to be quite high for further rate hikes. … The market is hoping or expecting the Fed to pause after this rate hike. From a consumer credit perspective, the impact of further rate hikes will likely continue to be felt by borrowers across a range of industries.

☆ Pre-market stocks: Chobani CEO says he won't be captive to profit-margin demands
▼ + stars: | 2023-05-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Chobani was slated to go public in 2022 but withdrew its filing as market conditions deteriorated. In a discussion with CNN, Ulukaya said the company still has plans to go public when market conditions stabilize. Single-serve Chobani® products, including Chobani® Flip®, Probiotic, Complete, Less Sugar, Chobani® with Zero Sugar and Greek Yogurt are seen on the shelf at a local grocery store on August 12, 2021 in New York City. But we are OK to be in the public market. I think people understand what Chobani is all about and they understand that this is tomorrow’s brand and tomorrow’s company.

There's an old Wall Street adage that urges investors to "sell in May and go away" — but CFRA Research says there's an even smarter way to play the market this spring. According to the Stock Trader's Almanac , the worst six months of the year for the S & P 500 starts in May and runs through October. The strategist says traders can look toward defensive names during the May slump, instead of entirely exiting the market. Indeed, since 1990, while the entire S & P 500 gained 6.7% annually, average price gains from equal exposure to these four sectors returned 9.0%. The stock almanac's editor, Jeff Hirsch, said that reducing long exposure and adopting a defensive stance will pay off for investors during the low period.

Wall Street closed lower on Friday after mixed economic data appeared to affirm another Fed interest rate hike in May, dampening investor enthusiasm after a series of big U.S. bank earnings launched the first-quarter reporting season. "Regional bank earnings will come in very slightly positive, while bigger banks will probably post surprisingly positive results." Other major U.S. banks including Goldman Sachs Group Inc (GS.N), Bank of America Corp (BAC.N) and Morgan Stanley (MS.N) will report through the week. ET, Dow e-minis were up 35 points, or 0.10%, S&P 500 e-minis were up 1.75 points, or 0.04%, and Nasdaq 100 e-minis were down 3.75 points, or 0.03%. Prometheus Biosciences Inc (RXDX.O) rallied 69.9% after Merck & Co (MRK.N) said it will buy the biotech company for about $10.8 billion.

Wall Street closed lower on Friday after mixed economic data appeared to affirm another Fed rate hike in May, dampening investor enthusiasm after a series of big U.S. bank earnings launched the first-quarter reporting season. Other major U.S. banks including Goldman Sachs Group Inc (GS.N), Bank of America Corp (BAC.N) and Morgan Stanley (MS.N) will report through the week. "Regional bank earnings will come in very slightly positive, while bigger banks will probably post surprisingly positive results," said Sam Stovall, chief investment strategist at CFRA Research. Prometheus Biosciences Inc (RXDX.O) rallied 69.5% on Merck & Co's (MRK.N) plans to buy the biotech company for about $10.8 billion. The S&P index recorded nine new 52-week highs and one new low, while the Nasdaq recorded 29 new highs and 55 new lows.

☆ Next week's stock market moves hinge on the longer-term outlook for earnings
▼ + stars: | 2023-04-14 | by ( Scott Schnipper | ) www.cnbc.com time to read: +7 min

Next week's market action could be dictated by how well the latest quarterly reports from corporate America are received. Expectations about the immediate earnings outlook have been down for so long, the actual numbers themselves could look like up to investors. Earnings for all financials in the S & P 500 are actually expected to expand in the first quarter by 4.3%. ET: NAHB Housing Market Index (April) Earnings: Charles Schwab, M & T Bank, State Street, J.B. Hunt Transport Tuesday 8:30 a.m. ET: Philadelphia Fed President Patrick Harker speaks on the economic outlook Earnings: AT & T, American Express, D.R.

☆ Stock futures are down slightly as investors ready for corporate earnings season: Live updates
▼ + stars: | 2023-04-13 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Stock futures are slightly lower as investors looked to the start of corporate earnings season while considering what the latest inflation data implies about the economy. S&P 500 futures were slightly below the flatline, while Nasdaq-100 futures shed 0.1%. The PPI, which is considered a leading indicator of consumer inflation, bolstered a trend of easing inflation seen in the March consumer price index report released Wednesday. Consumer prices grew 5% on an annual basis, which was the smallest year-over-year increase in nearly two years. Investors will watch for big-bank earnings Friday, with JPMorgan , Wells Fargo and Citi set to report before the bell.

☆ Wall Street ends mixed with inflation data, earnings on tap
▼ + stars: | 2023-04-10 | by ( Stephen Culp | ) www.reuters.com time to read: +5 min

The bellwether S&P 500 ended the session nominally higher. Of the 11 major sectors of the S&P 500, six ended the session higher, led by industrials (.SPLRCI). "When the Fed repeats time after time what their priorities are and what they’re going to do, they’re going to do it." As of Friday, analysts expected aggregate S&P 500 earnings down 5.2% year-on-year, a stark reversal from the 1.4% annual growth expected at the beginning of the quarter, according to Refinitiv. The S&P 500 posted 2 new 52-week highs and no new lows; the Nasdaq Composite recorded 50 new highs and 155 new lows.

Charles Schwab Corp (SCHW.N) gained 3.3% after the financial broker on Thursday disclosed upbeat new client assets inflow in March. Pioneer Natural Resources Co (PXD.N) jumped 5.7% after a report that Exxon Mobil Corp (XOM.N) held preliminary talks with the company about a possible acquisition of the shale oil producer. Micron Technology Inc (MU.O) and Western Digital Corp (WDC.O) surged 7.9% and 8.9%, respectively, on Samsung Electronics Co Ltd's (005930.KS) plans to cut chip production. Declining issues outnumbered advancers for a 1.07-to-1 ratio on the NYSE and a 1.16-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and no new low, while the Nasdaq recorded 30 new highs and 108 new lows.

The ADP National Employment report showed U.S. private employment rose by 145,000 jobs last month, compared with economists' projections of an increase of 200,000 jobs, adding to recent signs of a cooling labor market. With growing concerns about a worsening economic outlook following the recent turmoil in the banking sector, market expectations have shifted in favor of the U.S. central bank hitting the brakes on its interest rate hikes. "But at the same time, I think investors are closely watching to make sure that we don't fall into a deep recession." Traders' bets of a pause by the Fed in May shot up to 62.2%, while odds of a 25-basis point interest rate hike fell to 37.8%, according to CME Group's Fedwatch tool. All eyes are now on the non-farm payrolls data for March, a more comprehensive employment report, that is due on Friday for more conclusive clues on the state of the labor market.

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