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☆ Goldman's top stock strategist explains why small caps are rallying so much
▼ + stars: | 2024-07-16 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

The small-cap benchmark Russell 2000 jumped 2% on Tuesday, heading for its fifth straight winning day. Small-cap companies are especially sensitive to rate policy, as their financing costs rise when interest rates are high. Falling rates could be a boon for these names, said Kostin, Goldman's chief equity strategist, on CNBC's " Squawk on the Street ." In that period, the Russell 2000 Index has added more than 11%, compared with the S & P 500 's 4% advance. In 2024, the S & P 500 has surged more than 18%, while the Russell 2000 has added 10%.

Persons: Goldman Sachs, David Kostin, Jerome Powell, Russell Organizations: Russell, Federal

☆ Wall Street is bullish on stocks for the 2nd half of the year. Here are each firm's exact forecasts.
▼ + stars: | 2024-07-12 | by ( Matthew Fox | ) www.businessinsider.com time to read: +7 min

The most bullish S&P 500 price target is 6,000 from Evercore ISI, which represents a gain of about 7%. While the average year-end S&P 500 price target is 5,429, according to data from Bloomberg, the median year-end price target is 5,600. Yardeni Research: S&P 500 price target of 5,800Yardeni Research raised its year-end S&P 500 price target to 5,800 from 5,400 this week. Goldman Sachs: S&P 500 price target of 5,600Goldman Sachs strategist David Kostin boosted his S&P 500 price target to 5,600 from 5,200 last month. UBS: S&P 500 price target of 5,600UBS raised its S&P 500 price target to 5,600 from 5,400 in May, and that's after the bank raised its price target in February.

Persons: —, Julian Emanuel, Emanuel, they're, Oppenheimer, John Stoltzfus, Stoltzfus, Eric Wallerstein, Wallerstein, Ned Davis, Ed Clissold, Goldman Sachs, David Kostin, Kostin, Jonathan Golub Organizations: Wall, ISI, Service, Bloomberg, CNBC, Security, Yardeni, Research, Federal Reserve, Ned Davis Research, UBS, Chicago, & $ Locations: bearish

☆ How to get long the rotation into small caps at nearly no cost using options
▼ + stars: | 2024-07-12 | by ( Jeff Kilburg | ) www.cnbc.com time to read: +3 min

Investors endured a historic move in U.S. equities Thursday as the Russell 2000 gained roughly 3.5% while the S & P 500 dropped almost 1%. Although the small-cap index has dragged the megacap driven S & P 500 for years, I believe now is the time to own the iShares Russell 2000 ETF . IWM .SPX YTD mountain iShares Russell 2000 ETF (IWM) vs S & P 500 year-to-date Small caps seemingly benefited from Thursday's cooler-than-expected June consumer inflation report via CPI, signaling the Fed could kick off their interest rate cutting campaign in September now. Thursday was just the second day since 1979 when the Russell 2000 rose more than 3% while the S & P 500 declined. In the event the IWM does not move higher, an investor has to be prepared (with the cash) to own IWM for a longer term play.

Persons: Russell, IWM Organizations: CPI, CNBC, NBC UNIVERSAL

☆ Ed Yardeni raises S&P forecast, says 'Roaring 2020s' happening even faster than he expected
▼ + stars: | 2024-07-11 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The stock market's steady rally is forcing even bullish market forecasters to play catch-up and raise their targets. Ed Yardeni of Yardeni Research late Wednesday hiked his year-end target for the S & P 500 to 5,800 from 5,400. This week's report repeated Yardeni's forecast that the S & P 500 can reach 8,000 by the end of the decade. According to the CNBC Market Strategist Survey , the average year-end target from major banks is 5,464, with a median forecast of 5,600. The S & P 500 is higher by 18% year to date, and nearly 28% over the past 12 months.

Persons: Ed Yardeni, We've, Yardeni, CJ Lawrence, EF Hutton Organizations: Yardeni Research, CNBC Market, Survey, yearend, Nvidia, Prudential Equity Group, Deutsche Bank's, Prudential, Bache Securities, EF

☆ Shares of 6 mega-cap companies that run the economy should dominate the stock market
▼ + stars: | 2024-07-11 | by ( Zev Fima | ) www.cnbc.com time to read: +13 min

The market is only driven by a handful of massive tech stocks – and therefore, it's built on a weaker foundation than a market advancing on a broader swath of its constituents. Companies don't lose dominance or stock leadership because they were dominant the last time we had a bull market. We trimmed Nvidia, Meta Platforms, Palo Alto Networks , and five other tech stocks at the beginning of the year. Would the market suddenly become more investible if we broke up the Super Six into say 15 different companies and stocks? However, we don't think they are a reason to bail entirely on any of these names.

Persons: it's, Jim Cramer, Jim, they've, we've, we're, Jim Cramer's, Spencer Platt Organizations: Club, Super, CNBC, Apple, Microsoft, Meta, Nvidia, Fed, Barclays, Big Tech, IBM, Palo Alto Networks, Palo Alto, United Parcel Service, Google, Facebook, Gmail, Amazon, Services, Jim Cramer's Charitable, The New York Stock Exchange, Nasdaq, Getty Locations: Eaton, Dover, 2Q24, U.S, Manhattan, New York City

☆ Financial ETF nears substantial breakout, according to the charts
▼ + stars: | 2024-07-10 | by ( Frank Cappelleri | ) www.cnbc.com time to read: +4 min

The charts indicate the ETF could be nearing a substantial breakout attempt. The ETF is comprised of five industries: financial services (33%), banks (26%) capital markets (21%), insurance (16%) and consumer finance (4%). Daily Bullish Pattern First, here's the daily chart. The SPX finally eclipsed its 2007 high in 2013; the XLF reclaimed its 2007 high in 2021, but that didn't hold. Putting it all together, a successful daily pattern breakout also would help the much bigger weekly pattern break out, which would finally create distance from the 2007 high and prompt a multi-decade breakout.

Persons: Banks, XLF, it's, that's, Frank Cappelleri Organizations: CNBC, NBC UNIVERSAL

☆ Don't chase new highs, wait for a market pullback, advises Canaccord Genuity
▼ + stars: | 2024-07-09 | by ( Michelle Fox | ) www.cnbc.com time to read: +1 min

Investors eager to buy into the stock market rally may want to hold off, according to an analyst for Canadian investment bank Canaccord Genuity. The S & P 500 and Nasdaq Composite closed at all-time highs on Monday, adding to strong gains in the first half of the year. The tech-heavy Nasdaq ended the first half up 18.1%, while the S & P rose 14.5% and the Dow Jones Industrial Average gained 3.8%. In fact, the top 10 stocks in the S & P now account for more than 38% of the index's total capitalization, a new high, Welch said. Meanwhile, the S & P 500 is trading at a rich multiple of 24 times trailing 12-month profits, and expectations are for 10.1% earnings growth in the second quarter, he said.

Persons: Canaccord Genuity's Michael Welch, Welch, Russell Organizations: Nasdaq, Dow Jones Industrial

☆ How to trade this week’s CPI report, according to JPMorgan
▼ + stars: | 2024-07-09 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The S & P 500 would increase 0.25%-0.75% under this outcome. 15% chance — CPI rises 0.25%-0.3%: The S & P 500 would drop 0.75%-1.25% under this scenario, as such a report could show shelter prices increasing. 15% chance — CPI gains by 0.1%-0.15%: This outcome would be viewed favorably by investors as it could signal accelerating "goods disinflation." The S & P 500 would jump 1%-1.5%. 2.5% chance — CPI rises more than 0.3%: Such a hot inflation report would spark a 1.25%-2.5% sell-off in the S & P 500, JPMorgan traders think.

Persons: Dow Jones Organizations: Federal Reserve, CPI, JPMorgan

☆ Trump's increasing election odds after debate already affecting financial markets
▼ + stars: | 2024-07-08 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

Financial markets are slowly starting to absorb the possibility that what was once a toss-up presidential election campaign has taken a notable turn. That has put investors in a quandary of how to handicap what a Trump presidency would look like from an economic and market standpoint. .SPX mountain 2024-06-28 S & P 500 performance since the debate However, the bond market has had a bit more of a reaction. The first Trump presidency and some of his campaign rhetoric nevertheless has led to guesswork about what could be ahead. "This particularly favors financials and there will be an expectation of more M & A approval in a Trump presidency.

Persons: Joe Biden, Donald Trump, specter, Biden, Trump, Mark Malek, Siebert AdvisorNXT, Handicapping, Michael Hartnett, Hartnett, Ed Mills, Raymond James, Kamala Harris, Harris, Chris Krueger, TD Cowen, Krueger, ABC's George Stephanopoulos, —, Sarah Min Organizations: Republican, Trump, Treasury, Bank of, White, Reading, New York Times, Biden, Democrat Locations: Washington

☆ This industrial stock reporting Friday could indicate an economic slowdown. How to trade it
▼ + stars: | 2024-07-08 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

With earnings season kicking off, we'll break down an industrial stock reporting Friday and how to trade it. Historically, Alcoa Inc. marked the start of earnings season, being one of the first major companies to report results. It has underperformed the S & P year-to-date, down nearly 2.5% and declining more than 20% since the late March highs. The company's sales data, reflecting real-time demand for industrial and construction supplies, is closely linked to economic health. The trade Given the expectation that the stock is unlikely to rebound on earnings, a calendar spread could be a suitable trade.

Persons: Wells Fargo, Wells, we're Organizations: Alcoa Inc, JPMorgan Chase, Citigroup, Fastenal, CNBC, NBC UNIVERSAL Locations: Wells, U.S, United States, Fastenal

☆ Stock market today: US stocks rise to records ahead of key June inflation report
▼ + stars: | 2024-07-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks jumped to record highs ahead of key economic data releases this week. AdvertisementUS stocks jumped to record highs on Monday ahead of key economic data scheduled for this week. Investors will be keenly focused on the June consumer price index report on Thursday, with Core CPI expected to rise 3.1% year-over-year, compared to May's CPI report of 3.3%. More inflation data will be released on Friday with the release of the June PPI report, which is expected to rise 0.1% on a month-over-month basis. The new inflation data will help inform investors and the Federal Reserve about the path of interest rates for the rest of this year.

Persons: Powell, —, Jerome Powell, Wells, Katie Stockton, Stockton Organizations: PPI, Service, Federal Reserve, Fed, Fed Governors, JPMorgan, Citigroup, Here's Locations: Wells Fargo

☆ Oppenheimer raises S&P 500 target to 5,900, second highest on Wall Street
▼ + stars: | 2024-07-08 | by ( Fred Imbert | ) www.cnbc.com time to read: +1 min

Chief investment strategist John Stoltzfus raised his year-end S & P 500 target to 5,900 from 5,500. This change could benefit the 11 S & P 500 sectors as this "innovation cycle" shows signs of being both "cyclical and secular coupled with cross generational demographic needs." .SPX YTD mountain S & P 500, YTD The lion's share of this year's gains — the S & P 500 is up more than 16% in that time — has been driven by AI. The strategist's initial 2024 target was 5,200. The highest current S & P 500 target belongs to Evercore ISI at 6,000.

Persons: Oppenheimer, John Stoltzfus, It's, Stoltzfus, — Organizations: CNBC, Market, Nvidia, Reserve Locations: Friday's

☆ These stocks, including Nvidia, have more room to run in July, Bank of America says
▼ + stars: | 2024-07-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +4 min

Bank of America said this week that a slate of stocks is poised for upside as the summer heats up. CNBC Pro combed through Bank of America's research to find buy-rated stocks that are too attractive to ignore. Carnival Carnival is coming off better-than-expected earnings in late June. Bank of America analyst Andrew Didora said in a recent note that this bodes well for the stock in the months ahead. Palantir "We're still in the early innings of AI adoption and expect Palantir (PLTR) to continue to see significant upside from this trend.

Persons: Andrew Didora, Didora, Jason Kupferberg, Kupferberg, Mariana Perez Mora, Palantir, Mora, We're Organizations: of America, Nvidia, CNBC, Bank of, Palantir Technologies, Bank of America, CCL, Palantir, U.S . Department of Defense, Blackwell, …

☆ Inflation will be in focus in the week ahead as stocks attempt to sustain all-time highs
▼ + stars: | 2024-07-05 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Some key inflation readings in the week ahead could bolster the case for a September interest rate cut, as investors deliberate how long stocks can sustain their rally to record highs. After a rocky start to the year, a recently improving inflation picture has investors hopeful the Federal Reserve could soon start to lower rates. Stubborn inflation patches The June consumer price index is expected to show a slight improvement in the headline number. In May, for example, shelter inflation rose 0.4% on the month and 5.4% on the year, while other key items declined. Monday, July 8 3 p.m. Consumer Credit (May) Tuesday, July 9 6 a.m. NFIB Small Business Index (June) Wednesday, July 10 10 a.m. Wholesale Inventories final (May) Thursday, July 11 8:30 a.m. Consumer Price Index (June) 8:30 a.m.

Persons: nonfarm payrolls, Mark Malek, FactSet, there's, Ross Mayfield, Baird, Mayfield, David Kelly, CNBC's, Wells, Price, JPMorgan Chase Organizations: Reserve, Dow Jones, Nasdaq, CPI, PPI, FactSet, University of Michigan, Asset Management, Citigroup, JPMorgan Chase, PepsiCo, Delta Air Lines, Consumer Credit, Treasury Budget, Air Lines, Conagra, JPMorgan, Bank of New York Mellon Locations: U.S, Wells Fargo, Michigan, Fastenal

☆ Small-cap stocks are lagging in 2024, but investors shouldn’t avoid them, says portfolio manager
▼ + stars: | 2024-07-03 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

In a year when the S & P 500 is touting a 15.5% advance, small-cap stocks look underwhelming – but investors shouldn't shy away from them, said Julie Biel, chief market strategist at Kayne Anderson Rudnick. "I don't think you want to avoid them — they're part of a balanced diet," said Biel, who is also a portfolio manager at the firm. The benchmark small-cap index Russell 2000 is up roughly 1% year to date, whereas the S & P 500 has rallied almost 16%, largely thanks to the strength of Nvidia and other megacap tech stocks. The S & P 400 mid-cap index has also fallen short of its large-cap counterpart, up a modest 5% in 2024. Biel herself manages a small- and mid-cap growth portfolio and takes a long-term investment approach.

Persons: Julie Biel, Kayne Anderson, Biel, Russell, Ryan Organizations: Nvidia, Russell, Isaac, Ryan Specialty, IFS, West Pharmaceutical Services Locations: Biel

☆ RBC raises S&P 500 year-end target, but strategist says she's nervous about it
▼ + stars: | 2024-07-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

RBC Capital Markets increased its 2024 year-end target for the S & P 500, but the bank is taking a cautious stance on its market outlook. Head of global equity strategy Lori Calvasina now sees the broad market index ending the year at 5,700, up from her previous target of 5,300. .SPX YTD mountain S & P 500 in 2024 While she does see more upside ahead for the benchmark, Calvasina noted that valuations suggest the market is a bit overbought. There is also the risk that another short-term pullback — similar to what the market experienced in April — will take place, the strategist said. The S & P 500 has climbed nearly 15% year to date, with gains driven largely by chipmaker Nvidia and a small group of other megacap tech stocks.

Persons: Lori Calvasina, Calvasina, ”, We've, ” Calvasina, —, chipmaker Organizations: RBC Capital Markets, chipmaker Nvidia

☆ Global stocks are up 12% so far in 2024. Here's what to expect next, according to history
▼ + stars: | 2024-07-01 | by ( Ganesh Rao | ) www.cnbc.com time to read: +1 min

Global stocks ended the first half of 2024 up by more than 12%, and investors stand to make good money over the next six months if history repeats itself. Since the late 1980s, though, after a first-half rise of over 12%, stocks rose every single time in the second half of the year. The analysis also reveals that since 1970, the global stock market index had an average 21.25% price return for the whole year when the index was up more than 12% halfway through the year. The U.S.-only S & P 500 index has behaved in a very similar way to the MSCI World Index since 1989. The stock market had risen by more than 25% in the first half of that year.

Persons: — Organizations: CNBC Locations: U.S

☆ Pro Playbook: Investors looking for some second-half bargains after a big first six months
▼ + stars: | 2024-07-01 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The second half of 2024 has arrived with investors hoping for more gains ahead. The S & P 500 popped 14.5% in the first six months of the year, reaching record highs. Such a strong start to the year historically bodes well for the market in the second half. CFRA Research chief investment strategist Sam Stovall noted the S & P 500 averages a 7.9% gain in the second half after surging more than 10% in the first six months of the year. .SPX YTD mountain SPX year to date Despite the strong gains, there are still opportunities to buy stocks at a discount.

Persons: Sam Stovall, Brian Evans, Hess, Lisa Kailai, Morgan Stanley, Blackwell, Joseph Moore Organizations: CNBC, Nasdaq, Dow Jones, Research, CNBC Pro, FedEx, DiamondBack Energy, Chevron, Nvidia Locations: Friday's

☆ A market hedge if this atypical election run-up causes an S&P 500 correction
▼ + stars: | 2024-07-01 | by ( Michael Khouw | ) www.cnbc.com time to read: +4 min

The S & P 500 has yielded an average return of 7.9% since 1928, the year Herbert Hoover was elected. LBJ's presidency was also notable because he chose not to seek reelection in 1968, a year with a modest S & P return of 7.7%. A market correction could be more likely now than it seemed two weeks ago, as suggested by the current pricing of S & P options. Options such as SPDR S & P 500 ETF Trust (SPY) August $535 puts are currently priced around $5.50, about 1% of SPY's price, while S & P 500 5350 puts are around $50. SPY YTD mountain SPDR S & P 500 ETF Trust If a correction does occur, investors could monetize, roll, or spread the hedge.

Persons: Herbert Hoover, Hoover, Carter, George H.W, George H.W . Bush, LBJ's, Trump Organizations: Trump, JFK, FDR, Nvidia, Trust, Democratic National Convention, CNBC, NBC UNIVERSAL Locations: George H.W .

☆ Investors wondering if the S&P 500's strong year can continue should watch this key chart metric, says Bank of America
▼ + stars: | 2024-07-01 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Investors deliberating whether the stock rally can continue in the second half of 2024 should keep an eye on the 200-day moving average, according to Stephen Suttmeier, technical research strategist at Bank of America Securities. The indicator, which is used by chart analysts to determine long-term trends, has been positive during the first six months of the year — as the S & P 500 surged 15% to record levels. The broad market index did not have a single daily close below its 200-day moving average in the first half. However, if the S & P 500 falls below its 200-day moving average in the second half of 2024, that will mean weaker returns, the technician said. "[This] scenario shows average and median returns of 0.60% (SPX 5490) and 2.43% (SPX 5590), respectively," the technician said.

Persons: Stephen Suttmeier, Suttmeier, Stocks, Donald Trump Organizations: Bank of America Securities, U.S, Federal Reserve

☆ S&P 500 to tumble 30% as recession hits later this year, says BCA Research
▼ + stars: | 2024-06-27 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

U.S. stocks are set to drop more than 30% as a recession hits the U.S. economy in the coming months, BCA Research predicts. We conservatively expect the S & P 500 to drop to 3750 during the coming recession," Chief Global Strategist Peter Berezin wrote in a note Tuesday. The calculation is conservative because it assumes that S & P 500 revenue rises in line with nominal gross adjusted product, he explained. .SPX 1Y mountain S & P 500's one-year performance BCA Research said it sees several feedback loops that will weaken the economy. Absent "overwhelming evidence" of an imminent recession risk, the central bank will be reluctant to cut rates aggressively, he said.

Persons: Peter Berezin, Berezin, JPMorgan's Dubravko Organizations: Research, Tech, Wall, CNBC

☆ Investor Neil Hennessy says megacap tech trade is 'over' and to buy these two stocks instead
▼ + stars: | 2024-06-26 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Neil Hennessy said investors need to look at value stocks that offer attractive price-to-sales multiples and avoid what he sees as a dying "Magnificent Seven" trade. While Hennessy admitted that the Magnificent 7 stocks have performed well, he said their average price-to-earnings multiple sits at around 47 while their price-to-sales multiple is above 12. "The reality of our world is money is shifting over to value," said the University of San Diego alum. But Hennessy said the stock is attractively priced, with a price-to-sales multiple of 0.9 and P/E ratio of just 7. But the average price target implies the stock can turn around and surge more than 27% over the coming year.

Persons: Neil Hennessy, Hennessy, I'm, SPX Organizations: Oshkosh Corp, University of San Diego, Oshkosh, LSEG

☆ JPMorgan upgrades Campbell Soup, saying its recently-acquired Rao's sauce business is thriving
▼ + stars: | 2024-06-26 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Campbell Soup 's acquisition of Rao's parent Sovos Brands is a key part of why JPMorgan is now bullish on the Camden, New Jersey-based food company for the first time in 15 years. Analyst Ken Goldman upgraded Campbell to overweight from neutral, a rating the bank hasn't had on the stock since 2009. The Rao's brand alone brought in nearly $775 million in annual net sales in 2023, driving Sovos sales above $1 billion last year. Rao's organic net sales climbed about 37% in 2023 from 2022, boosting the acquired business's growth rate to 25%. CPB .SPX YTD mountain Campbell Soup vs. S & P 500, year to date Despite the excitement around Rao's, the JPMorgan call comes amid a period of underperformance for Campbell.

Persons: Campbell, Ken Goldman, hasn't, Goldman, Sovos, Michael Angelo's, underperformance Organizations: JPMorgan, Wall, CPB Locations: Camden , New Jersey, noosa

☆ Wall Street strategists see limited gains for the rest of year after big first half
▼ + stars: | 2024-06-26 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

There may not be much upside left this year in the S & P 500, at least according to the paid seers on Wall Street. The S & P 500 is up 15% so far in 2024, while the Nasdaq has added 18%. .SPX YTD mountain S & P 500 In fact, the S & P 500 is anticipated to stall even with a flurry of strategists recently upping their targets. Similarly, Evercore ISI's Julian Emanuel anticipates the S & P 500 could end the year at 6,000 , the highest forecast in CNBC's survey. By year end, Lakos-Bujas anticipates the S & P 500 will fall to 4,200, or a more than 20% plunge.

Persons: Goldman Sachs, David J, Kostin, Evercore ISI's Julian Emanuel, buybacks, Russell, Piper Sandler, Dubravko Lakos, Bujas Organizations: Nasdaq, CNBC PRO, Deutsche Bank, Tech, Microsoft, Dow Jones, Nvidia

☆ An S&P 500 10% correction is likely this summer, says Piper Sandler
▼ + stars: | 2024-06-26 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

"However, the longer these warning lights flash, the more painful the repair bill (market correction) will be," Johnson said. .SPX YTD mountain S & P 500 Stocks have surged this year largely due to the outperformance of artificial intelligence mega-cap technology companies such as Nvidia. The S & P 500 and Nasdaq Composite are higher this year by roughly 15% and 18%, respectively. Just last week, the S & P 500 breached 5,500 for the first time. Johnson anticipates the S & P 500 will end the year at 5,050, or 7% lowerthan where it closed Tuesday.

Persons: Piper Sandler, Craig Johnson, Johnson Organizations: Nvidia, Nasdaq Locations: Tuesday's

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