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☆ Here are 2 charts that show the American consumer is still going strong
▼ + stars: | 2023-10-12 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Americans are still shelling out cash for discretionary spending, despite concerns of a weakening consumer. Total card spending is likely up 4.5% year-per-year over the past 3 months, Bank of America forecasted. Americans likely ran out of their excess savings last quarter, the San Francisco Fed previously estimated. Bank of AmericaBofA's spending data paints a promising picture of a consumer that's humming along despite an uncertain economic outlook. According to a study from the San Francisco Fed, Americans may have run out of their excess savings at the end of last quarter.

Persons: —, BofA, bode Organizations: Bank of America, San Francisco Fed, Service, Labor, San Francisco Locations: San Francisco Fed

☆ Bank of America: Buy these 10 stocks set to shatter expectations after earnings growth accelerated in the third quarter
▼ + stars: | 2023-10-12 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Earnings will rise in Q3 and bring stocks along for the ride, according to Bank of America. Earnings estimates haven't budged in the last three months, which is better than the typical 4% pre-quarter drop. 10 stocks set for success as Q3 earnings reboundProfits have exceeded GDP by an average of 1.5 percentage points since 1950, according to BofA. Bank of AmericaHowever, Bank of America is confident that a new quarter will bring a clean slate for earnings. Below are 10 stocks that Bank of America believes are most likely to beat expectations in Q3.

Persons: Ohsung Kwon, Savita Subramanian, there's, Kwon, Subramanian, BofA Organizations: Bank of America, Wall, Bank of America Companies, Bank, Companies

☆ Bank of America's top 5 stocks for safety and security in a dangerous world
▼ + stars: | 2023-10-09 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

Security is becoming increasingly crucial around the world, and Bank of America thinks investor portfolios can benefit from owning certain names. The bank on Monday released its "Future Security" primer, examining stocks through a lens of safety. Information security company CyberArk Software also made the list. CYBR YTD mountain CyberArk YTD "CyberArk is the clear leader within the PAM [privileged access market] market, with a robust technological moat," Liani said. TRU YTD mountain TransUnion YTD.

Persons: Felix Tran, Benjamin Netanyahu, CrowdStrike, Tal Liani, Matt Cohen, CyberArk, Liani, BofA, Heather Balsky, Tomer Zilberman, Andrew Obin, Obin, Michael Bloom Organizations: Bank of America, Israeli, Defense, U.S . Aerospace & Defense ETF, CyberArk Software, Motorola Solutions, Motorola, North, APG Locations: Israel, U.S

☆ Bonds 'in greatest bear market of all time' - BofA
▼ + stars: | 2023-10-06 | by ( Samuel Indyk | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Oct 6 (Reuters) - The rout in the fixed-income market is causing the "greatest bond bear market of all time", Bank of America Global Research said in a note on Friday, as the peak-to-trough loss in the U.S. 30-year yield hit 50%. In its weekly "Flow Show" report, BofA said bond funds saw $2.5 billion in outflows in the week to Wednesday, citing EPFR data. BoFA's report showed that the current loss in 30-year bonds from the peak in the market in July 2020 to now far outpaces that of any previous bear market, making this one what it calls "the greatest of all time" and the "humiliation trade" right now is buying bonds. BofA said its "Bull & Bear indicator", dropped to a five-month low of 2.6 on poor equity breadth, outflows from emerging markets, high yield bonds and developed market stocks. BofA said it prefers to "sell the rips" in the upper half of S&P 500's (.SPX) range of 3,600-4,200 as they are "convinced the bear market has unfinished business".

Persons: Dado Ruvic, BofA, BoFA's, Michael Hartnett, Samuel Indyk, Amanda Cooper, Sharon Singleton Organizations: REUTERS, Bank of America Global Research, Equity, Thomson Locations: U.S, outflows

☆ History says there's a 95% chance that US stocks rise from here despite recession calls, and Bank of America shared 4 investments to make as the market recovers from its September slump
▼ + stars: | 2023-10-03 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

However, higher-for-longer rates don't always crush valuations and earnings, Bank of America strategists recently noted. In fact, the firm found that the S&P 500 had a 15% total return per year from 1985 to 2005 with inflation-adjusted rates at 3.5%, which is far above today's 2% rate. "Historically, when the indicator has been here or lower, 12m forward S&P 500 returns were positive 95% of the time (vs. 81% overall) with a median return of 21%," Subramanian wrote. The Charlotte-based firm recently raised its year-end price target for the S&P 500 to 4,600, which implies 7.5% upside. The S&P 500 is top-heavy and expensive, which Bank of America thinks makes funds following the equal-weight version of the index more compelling.

Persons: That's, Savita Subramanian, BofA's, Subramanian, Financials Organizations: Bank of America, Federal Reserve, Bank of America's, of America, SSI, Bank of, Energy Locations: Charlotte

☆ BofA reveals the global stocks that tend to outperform when the U.S. dollar rises
▼ + stars: | 2023-09-29 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +1 min

The U.S. dollar index hit its highest level since March earlier this month, while its 50-day moving average is showing signs of surpassing its 200-day counterpart. European stocks to benefit Bank of America's screen captures European companies that would "tend to outperform" when the U.S. dollar index rises. They also had a "significant and positive slope from regression [against] the U.S. dollar index." "Over the past five years, Low Risk stocks, Energy and Norway have tended to outperform the most when the DXY index has been rising," she added. Elsewhere Dutch media house Wolters Kluwer , Italian energy player Tenaris and Finnish telecommunication services provider Nokia also appeared on the screen.

Persons: BofA's Paulina Strzelinska, Strzelinska, Wolters, — CNBC's Michael Bloom Organizations: U.S, Bank of America, The U.S, Bank, Energy, Bank of, Tobacco, Diageo, BP, Bayer, Roche, Wolters Kluwer, Nokia Locations: The, Europe, Norway, Novozymes, Denmark, Qiagen, Germany, Switzerland

☆ What could break under higher-for-longer interest rates?
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +5 min

Yet, the strain from interest rate hikes has just started to come through and with central banks signalling that rates will likely stay higher for longer, the notion of something "breaking" remains strong. Reuters Graphics Reuters Graphics1/ PROPERTY PAINNowhere is the impact of higher rates being felt more acutely than in real estate, still reeling from COVID-19. "We have many zombie companies in the United States and Europe from the low interest rates era, and I cannot imagine how they can survive now with high interest rates." Still, big question marks remain over their future, not least from a global property rout. Miller noted that European banks are also vulnerable given their bigger size relative to the economy that leaves them more exposed to risks from various pockets.

Persons: Jonathan Ernst, Heimstaden, Markus Allenspach, Julius Baer, Guy Miller, Miller Organizations: . Federal, REUTERS, Reuters Graphics Reuters, SBB, China Evergrande, HK, Federal, European Central Bank, Zurich Insurance, The Bank of Japan, Capital, Thomson Locations: Washington, Sweden, Europe, Stockholm, Berlin, CHINA, China, United States, Big U.S

☆ Analysts loved Costco's earnings report—Here's where they say the stock is headed next
▼ + stars: | 2023-09-27 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Lasser also labeled Costco stock as "the gold standard." Bank of America's Robert Ohmes reiterated a buy rating on Costco stock, with a $610 per share price target. Morgan Stanley's Simeon Gutman, meanwhile, restated an overweight rating on Wednesday, accompanied by a $585 per share price target or roughly 6% upside. Goldman Sachs analyst Kate McShane kept a buy rating on Costco stock following Tuesday's quarterly results, but boosted her price target to $603 from $589. He remains neutral on Costco stock with a $530 target price, which is 4% lower than where shares recently closed.

Persons: Costco, Michael Lasser, Lasser, Bank of America's Robert Ohmes, Ohmes, Morgan Stanley's Simeon Gutman, Morgan Stanley, Gutman, Goldman Sachs, Kate McShane, McShane, JPMorgan's Christopher Horvers, Horvers, Citi's Paul Lejuez, Lejuez, — CNBC's Michael Bloom Organizations: Costco, LSEG, 4Q, UBS, Bank of America's Locations: U.S

☆ We've been big believers in the secular bull market, says BofA's Stephen Suttmeier
▼ + stars: | 2023-09-26 | 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 EmailWe've been big believers in the secular bull market, says BofA's Stephen SuttmeierStephen Suttmeier, BofA Global Research chief equity technical strategist, joins 'Squawk Box' to discuss the latest technical analysis, overall market trends and forecast, and more.

Persons: Stephen Suttmeier Stephen Suttmeier Organizations: Global Research

☆ Delinquencies and late fee regulation are fueling retail credit risk: BofA's Lorraine Hutchinson
▼ + stars: | 2023-09-26 | 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 EmailDelinquencies and late fee regulation are fueling retail credit risk: BofA's Lorraine HutchinsonLorraine Hutchinson, retail analyst at BofA Securities, joins 'The Exchange' to discuss the lack of regulatory clarity on retailer late fees, rising consumer credit delinquencies, and a shift in consumer habits adding downward pressure to department stores.

Persons: BofA's Lorraine Hutchinson Lorraine Hutchinson Organizations: BofA Securities

☆ Investors shed stocks at fastest weekly rate in 2023
▼ + stars: | 2023-09-22 | by ( Lucy Raitano | ) www.reuters.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsLONDON, Sept 22 (Reuters) - Investors sold stocks at the fastest weekly rate this year in the week to Wednesday, Bank of America Global Research said in a report on Friday. Equities recorded a weekly outflow of $16.9 billion, while investors bought $2.5 billion of bonds, which recorded a 26th straight week of inflows, BofA said, citing EPFR data. European equities logged their 28th straight week of outflows, with investors shedding $3.1 billion in this latest week. Energy stocks recorded their largest weekly inflow since March, totalling $600 million, alongside soaring oil prices.

Persons: Brendan McDermid, BofA, Lucy Raitano, Amanda Cooper, Jane Merriman Organizations: New York Stock Exchange, REUTERS, Bank of America Global Research, Federal Reserve, Bank of England, Energy, Investors, Thomson Locations: New York City, U.S

☆ Investors shed stocks at the fastest weekly rate in 2023
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsLONDON, Sept 22 (Reuters) - Investors sold stocks at the fastest weekly rate this year in the week to Wednesday, Bank of America Global Research said in a report on Friday. Equities recorded a weekly outflow of $16.9 billion, while investors bought $2.5 billion, of bonds, which recorded a 26th straight week of inflows, BofA said, citing EPFR data. They also pulled $300 million from gold and $4.3 billion in cash. Year-to-date however, investors have ploughed $1 trillion into cash.

Persons: Brendan McDermid, BofA, Lucy Raitano, Amanda Cooper Organizations: New York Stock Exchange, REUTERS, Bank of America Global Research, Thomson Locations: New York City, U.S

☆ This stock market signal points to the S&P 500 surging 25% within the next year
▼ + stars: | 2023-09-17 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

There's still significant upside potential in the stock market, according to Bank of America. Subramanian observed that long-term profit growth expectations among Wall Street analysts are near record low levels, which signals pervasive pessimism. Typically, when there's such a high level of pessimism towards future corporate profits, the stock market delivers spectacular returns. AdvertisementAdvertisementAnalysts expected the S&P 500 to deliver long-term profit growth of 11% a year ago, while the trailing 5-year level of growth has been 12%. The stock market went on to enter a year-long bear market just a couple months later.

Persons: There's, Savita Subramanian, Bank of America's Savita Subramanian, Subramanian Organizations: Bank of America, Service, Wall Street, Bank of America's, Wall, Energy Locations: Wall, Silicon

☆ Here's what analysts are saying after Adobe's third-quarter beat
▼ + stars: | 2023-09-15 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

The software company reported a top- and bottom-line beat on Thursday, on an adjusted $4.09 per share and $4.89 billion in revenue. Goldman Sachs analyst Kash Rangan reiterated a buy rating on Adobe stock with a higher $625 per share price target, up from $550. Bank of America's Brad Sills also reiterated a buy rating on Adobe stock on Thursday, accompanied by a $660 per share price target. Morgan Stanley analyst Keith Weiss remained overweight on Adobe stock after third-quarter results , also with a $660 per share price target. JPMorgan's Mark Murphy is neutral on Adobe stock, with a $530 per share price target.

Persons: LSEG, Goldman Sachs, Kash Rangan, Rangan, Bank of America's Brad Sills, Sills, Morgan Stanley, Keith Weiss, Weiss, JPMorgan's Mark Murphy, Murphy, — CNBC's Michael Bloom Organizations: LSEG, Adobe, TAM, Bank of America's

☆ The strength of the labor market is driving the ability to borrow, says BofA's David Tinsley
▼ + stars: | 2023-09-14 | 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 EmailThe strength of the labor market is driving the ability to borrow, says BofA's David TinsleyDavid Tinsley, senior economist at the Bank of America institute, and Steven Wieting, chief investment strategist at Citi Global Wealth Management Investments, join 'The Exchange' to discuss the deceleration in consumer spending, inventories shrinking due to persistent strength in services hiring, and more.

Persons: BofA's David Tinsley David Tinsley, Steven Wieting Organizations: Bank of America, Citi Global Wealth Management Investments

☆ CHART OF THE DAY: Chinese growth expectations fall to 'lockdown lows,' fund manager survey says
▼ + stars: | 2023-09-13 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

BofA's survey of fund managers found that a net 0% expect a stronger Chinese economy in the next 12 months. Investors noted that China's real estate sector is the most likely source of any future credit event risk. Describing expectations as back to "lockdown lows," BofA noted that's a whopping plummet from February, when a net 78% of respondents anticipated a stronger economy. But China's economy has slowed sharply in subsequent months, with rapid cooldowns seen in retail sales, industrial output, exports, and investment. In fact, fund managers responding to BofA's survey placed China's real estate as the most likely source of a future systemic credit event.

Persons: BofA, China's Organizations: Investors, Service, Bank of America Locations: Wall, Silicon, China, Beijing

☆ Bank of America upgrades work uniform company that it says will benefit from no recession
▼ + stars: | 2023-09-12 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Bank of America has a better-than-consensus outlook on the U.S. economy and thinks Cintas will be a major beneficiary as recession risks wane. "With BofA's economics team no longer expecting a near-term recession, we're more confident in Cintas' sales and margin momentum." Shares of the Ohio-based work uniform and services company have gained 10.2% this year. The firm's earnings estimate for fiscal 2024 and fiscal 2025 are higher than the company's guidance as well as Wall Street's expectations, she said in the note . "We think Cintas is poised for EPS beats driven by sales and margin outperformance," Balsky said.

Persons: Cintas, Heather Balsky, Balsky, — CNBC's Michael Bloom Organizations: of America Locations: U.S, Monday's, Ohio

☆ Buy this financial stock as protection against economic troubles and rate hikes, BofA says
▼ + stars: | 2023-09-11 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Bank of America says Raymond James Financial is well protected from macroeconomic headwinds, making it an attractive investment option compared to its peers The firm initiated coverage of Raymond James stock on Monday with a buy rating as well as a $122 per share price target. Raymond James stock is little changed from the start of the year. RJF YTD mountain Raymond James stock. Analyst Mark McLaughlin says Raymond James' diversification and potential ability to navigate future macroeconomic headwinds better than its peers underpinned the bullish outlook. The analyst added that Raymond James' moves during the Federal Reserve's quantitative easing cycle, prior to interest rate hikes, have helped the firm be prepared for any future liquidity needs.

Persons: Raymond James Financial, Raymond James, Mark McLaughlin, RJF, McLaughlin, — CNBC's Michael Bloom Organizations: of America

☆ There's a little-known way to invest in the AI revolution: real estate. Bank of America breaks down the opportunity to profit from the under-the-radar stocks powering it.
▼ + stars: | 2023-09-09 | by ( Mark Reeth | ) www.businessinsider.com time to read: +5 min

Data centers are perfectly positioned to take advantage of this trend, according to BofA. David Barden breaks down the opportunity for data center REITs, and which companies will profit. 2 data center giants ready for liftoffWith data centers poised to profit from the AI explosion, the only question remaining is which data center providers make the best investments now. "DLR's business model should, however, position it to develop facilities with the power density required to host large AI model Training," Barden wrote. While Equinix can capitalize on AI sooner rather than later, Digital Realty Trust's larger capacity makes it perfect for "larger, longer-dated AI training model environments," Barden wrote.

Persons: David Barden, Haim Israel, Barden, EQIX Organizations: Semiconductors, Software, Bank of America, Realty Trust, Digital Realty Trust, Digital Realty

☆ These 10 stocks have the most exposure to China's 'stalling' economy, BofA warns
▼ + stars: | 2023-09-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

China's "stalling" economy is putting some US companies at risk, according to Bank of America. The bank highlighted the top 10 stocks that have the most revenue exposure to China. Applied MaterialsApplied Materials’ new corporate signage photo in Santa Clara California ReutersTicker: AMATMarket value: $122.6 billionRevenue exposure to China: 33%9. Wynn ResortsAdvertisementAdvertisementFILE PHOTO: Wynn Resorts Ltd property in Las Vegas ReutersTicker: WYNNMarket value: $10.7 billionRevenue exposure to China: 40%4. ReutersTicker: LVSMarket value: $38.2 billionRevenue exposure to China: 67%Other companies that have considerable revenue exposure to China include: Intel (27%), Tesla (26%), and Nvidia (26%).

Persons: Savita Subramanian, Santa Clara California, Lam, Shanghai Aly Song Organizations: Bank of America, Service, Santa Clara California Reuters, Broadcom Reuters, IPG Photonics, Wynn, Wynn Resorts Ltd, Las Vegas Reuters, WYNN, Qualcomm, China, Vegas Sands Corp, Reuters, Intel, Nvidia Locations: China, Wall, Silicon, Santa Clara, Las Vegas, Shanghai, Macau

☆ Don't underestimate the risk of China's influence over Apple, says BofA's Wamsi Mohan
▼ + stars: | 2023-09-07 | 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 EmailDon't underestimate the risk of China's influence over Apple, says BofA's Wamsi MohanWamsi Mohan, Bank of America analyst, joins 'Squawk on the Street' to discuss the latest Huawei phone release, the potential for a reversal in Apple's valuation due to a pullback in Chinese customers, and the economic impact of iPhone restrictions in China.

Persons: BofA's Wamsi Mohan Wamsi Mohan Organizations: Apple, Bank of America, Huawei Locations: China

☆ Treasury yield jump is not 'death to equities,' BofA's Savita Subramanian says
▼ + stars: | 2023-09-05 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

The latest jump in Treasury yields is not "death to equities," BofA Securities' Savita Subramanian told CNBC's "Fast Money" on Tuesday. In fact, Subramanian sees the bond move as a positive signal — rather than an ominous sign for the economy. In May, Subramanian hiked her S&P 500 year-end target by 7.5% to 4,300, with a range as high as 4,600. Even though she believes the corporate America has learned to do more with less, Subramanian suggests stocks won't go up in a straight line. But I do think we are at a point where we have some visibility with what the Fed is going to do," Subramanian said.

Persons: Savita Subramanian, CNBC's, Subramanian Organizations: Securities, Companies Locations: America

☆ Analysis: US healthcare stocks roiled by investor tug of war over economy
▼ + stars: | 2023-09-05 | by ( David Randall | ) www.reuters.com time to read: +5 min

Many view healthcare as a defensive sector because it has constant demand and is somewhat insulated from the economy. In the latest week, investors pulled a net $1.4 billion from the sector, the biggest weekly outflow since May 2022. Overall, the healthcare sector - which ranges from health insurers like UnitedHealth to pharmaceutical companies like Pfizer to small biotechs - has received the third largest inflows of any sector year to date, BofA's data showed. This would weaken the case for loading up on healthcare stocks. Overall, healthcare sector earnings are expected to lag this year as COVID-related revenues decline 13% versus a 1.8% rise for the overall S&P 500.

Persons: Brendan McDermid, Bob Kalman, Emily Roland, Dan Lyons, Janus Henderson, you've, Lyons, Kalman, Joe Biden's, Margie Patel, Patel, David Randall, Ira Iosebashvili, Megan Davies, David Gregorio, Richard Chang Organizations: New York Stock Exchange, REUTERS, Atlanta Federal, BofA Global Research, Pfizer, Miramar Capital, Healthcare, John Hancock Investment Management, Janus Henderson Investors, U.S, Bristol Myers Squibb, Allspring Global Investments, Thomson Locations: New York City, U.S

☆ Bank of America: Asian buybacks just hit a 20-year high — and these stocks are a buying opportunity
▼ + stars: | 2023-09-04 | by ( Lucy Handley | ) www.cnbc.com time to read: +1 min

Analysts at Bank of America named Asian stocks with high buybacks, which they said are an opportunity for investors. "Data since Jan-90 shows Asia stocks with High Share Buybacks tend to outperform," the analysts wrote in an August 31 research note. "The proportion of Asia stocks buying back shares is at a 20-year high, suggesting increased opportunity for investors," said the analysts led by Nigel Tupper. Other Chinese stocks on BofA's list include semiconductor supplier Daqo New Energy and utilities firm Huaneng Power . Australian stocks on BofA's list included banks Westpac and National Australia Bank .

Persons: Nigel Tupper, BofA, CJ Cheil Organizations: Bank of America, Companies, Smart, New Energy, Huaneng, Catcher Tech, Westpac, National Australia Bank, Woolworths, Keppel Corp, HK Land, Swire Pacific Locations: Asia, China, Huaneng Power, South Korea, Australia, Taiwan, Hong Kong, U.S

☆ Second-quarter earnings recap: Here's what Wall Street is saying about this quarter's winners and losers, and where the market goes from here
▼ + stars: | 2023-08-30 | by ( Mark Reeth | ) www.businessinsider.com time to read: +7 min

Second-quarter earnings season is concluding, giving analysts new data to direct their investments. The second-quarter earnings season is quickly coming to an end, and it's time to tally the wins and losses. Here's what Wall Street is saying about second-quarter earnings, who the biggest winners and losers were, and what today's results mean for tomorrow's market. "Much of the stability in consumer stocks YTD is related to falling inflation and higher asset prices, in our view," Wilson wrote. Lori Calvasina, head of US equity strategy at RBC, also had some thoughts about the earnings season.

Persons: Morgan Stanley, didn't, you'd, Mike Wilson, Wilson, Price, BofA's, Subramanian, Lori Calvasina, Calvasina, Subramanian didn't Organizations: RBC, Bank of America, Tech, Nvidia, Comm . Services, Energy, Real Estate Locations: Comm, Tech

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