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☆ CFRA's Sam Stovall: Next week's inflation data will calm investors' nerves
▼ + stars: | 2023-02-10 | 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 EmailCFRA's Sam Stovall: Next week's inflation data will calm investors' nervesSam Stovall, CFRA Research chief investment strategist, joins 'Squawk Box' to discuss how he feels about markets now, the economic data that may impact markets, and more.

Capping declines on the tech-heavy Nasdaq (.IXIC) was megacap Microsoft Corp (MSFT.O). Seven of the top 11 sectors on the S&P 500 were in declines, but technology (.SPLRCT) was among top gainers propped up by Microsoft. Expectations of high rates for a protracted period dragged Wall Street's main indexes down on Monday. But, all three major averages are in the black for 2023, with the Nasdaq (.IXIC) adding over 13%, led by a revival in battered mega-cap growth stocks. So far, more than half of the companies on the S&P 500 have reported quarterly earnings, with 69.1% of them beating expectations, according to Refinitiv.

Expectations of high rates for a protracted period dragged Wall Street's main indexes down on Monday. So far, 272 companies on the S&P 500 have reported quarterly earnings, with 69.1% of them beating expectations, according to Refinitiv. ET, Dow e-minis were down 108 points, or 0.32%, S&P 500 e-minis were down 7.25 points, or 0.18%, and Nasdaq 100 e-minis were down 1.5 points, or 0.01%. DuPont (DD.N) reversed earlier declines to rise 1.0%, on a higher-than-expected quarterly profit supported by higher pricing for its products. Reporting by Shubham Batra in Bengaluru; Editing by Savio D'Souza and Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

Among these are equities’ positive January performance, a "golden cross" chart pattern on the S&P 500 and more stocks making new highs rather than new lows. Such signals are far from the only indicators market participants use to make investment decisions, and they are not foolproof. JANUARY JUMPThe S&P 500 rose 6.2% in January, driven in part by hopes that the Fed will be able to contain surging inflation without badly damaging the economy. GOLDEN CROSSMeanwhile, chart watchers noted that the S&P 500’s 50-day moving average rose above its 200-day moving average on Thursday, a pattern known as a golden cross. However, when a golden cross has appeared as the 200-day moving average is declining - as it is now - the average 12-month return for the S&P 500 jumps to 16.8%.

☆ Bank of America asked its analysts for their top 2023 picks—Here are the stocks
▼ + stars: | 2023-01-31 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Stocks are off to a hot start for the year, and Bank of America analysts think some buy-rated names in their coverage universe can carry that momentum through the rest of 2023. Still, Bank of America asked its analysts to break down their top picks for 2023. "Upside risks are if the commercial aerospace and business aviation jet recoveries are better than expected, earnings could fare better than our projections," Bank of America noted. Bank of America has a price target of $120 per share, implying upside of about 20% from Monday's close. Domino's Pizza The world's largest pizza delivery company was chosen by Bank of America due to its promising growth potential.

☆ Sam Stovall says 2023 will be a bullish year, with one sector set to see large gains
▼ + stars: | 2023-01-31 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

CFRA chief investment strategist Sam Stovall calls energy stocks a continued smart play in what he thinks will also prove a bullish year for the broader market. Stovall told CNBC's "Power Lunch" Tuesday that historical data gives strong backing for gains in the S & P 500 this year. Stovall's 2023 target for the S & P 500 is 4575, although he said that number's "more a weather vane than a laser beam." Fears of a recession are already reflected in market prices, Stovall said, and the market is already close to the bottom. Stovall reiterated his preference for energy stocks, saying he believes there's upside potential for energy prices.

☆ If January is the barometer it historically has been, stocks could see a very strong year
▼ + stars: | 2023-01-30 | by ( Patti Domm | In | ) www.cnbc.com time to read: +7 min

He said this year has even more reasons to be higher, since other market performance indicators are also positive. For instance, stocks were higher in the Santa rally period in the final five trading days of December and the first two of January. "If you add the third level, with the market positive in January, the market was up a shade more than 29% and was up 100% of the time." spThe average annual S&P 500 gain for any year is about 9%, but Stovall said when the prior year is negative there's historically a higher bounce and the rally averages 14%. "If you add the third level, with the market positive in January, the market was up a shade more than 29% and was up 100% of the time."

☆ A 'pause and pop' rally will push stocks higher throughout 2023 as the Fed backs off aggressive policy, CFRA says
▼ + stars: | 2023-01-30 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

Stocks look ready for a 'pause and pop' between when the Fed pauses rate hikes and starts cutting, CFRA said. CFRA said the Fed may make its final rate hike of this cycle at the upcoming February 1 meeting. "Historically, the FOMC has started a new rate-easing cycle an average of nine months after the last rate hike. The nine-month gap between a Fed pause in rate hikes and the first interest rate cut usually results in a gain for the S&P 1500 index, he said. Stovall said CFRA apparently not alone in thinking the Fed is on the verge of pausing rate hikes, outpointing the S&P 500's nearly 5% rise since the start of 2023.

☆ NYSE says manual error triggered major trading glitch
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +1 min

The glitch, which occurred on Tuesday, impacted stocks of major companies including 3M (MMM.N), Wells Fargo & Co (WFC.N) and Verizon Communications Inc (VZ.N). The NYSE, owned by Intercontinental Exchange Inc (ICE.N), said it began trading in 2,824 securities without an opening auction, which led to erroneous prices, with nearly 4,341 trades in 251 securities "busted", or nullified. The exchange also said it had erroneously triggered a sell short restriction (SSR) on about 80 securities on Tuesday. That could potentially lead to volatile trading on Wednesday but it was "nothing investors have to worry about", Stovall added. Reporting by Niket Nishant and Johann M Cherian in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ There's a 61% chance of recession this year, economists say—what that means for your money
▼ + stars: | 2023-01-23 | by ( Ryan Ermey | ) www.cnbc.com time to read: +2 min

Stop us if you've heard this one before: A lot of people think the economy may be headed for a recession. It's everywhere: A recent poll of economists from the Wall Street Journal pegged the recession chances in 2023 at 61%. Even 96-year-old former Federal Reserve Chairman Alan Greenspan has weighed in, saying that a recession is "the most likely outcome" given the current economic trajectory. A short, shallow recession may be priced into marketsEconomists aren't the only ones who have recession on the brain. Overall, investors and economists alike expect a "fairly mild kind of recession, " says Sam Stovall, chief investment strategist at CFRA.

☆ Earnings could keep the market on edge in week ahead as investors wait for Fed
▼ + stars: | 2023-01-20 | by ( Patti Domm | In | ) www.cnbc.com time to read: +8 min

I do think that will happen even more in the week ahead as the Fed is in a blackout period. S & P Global PMI data is released for both services and manufacturing Tuesday. "The market continues to think the Fed does not have to administer as much medicine as the Fed tells us they plan to. Earnings, earnings, earnings Stocks were lower in the past week, with the S & P 500 off by 1.8%. "It's a mild earnings recession, but it's an earnings recession.

☆ Stovall: Markets will experience a tale of two halves
▼ + stars: | 2023-01-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStovall: Markets will experience a tale of two halves, with declines in the first part of the yearCFRA Chief Investment Strategist Sam Stovall explains why he's bullish on the markets.

Before the market opened, U.S. economic data showed retail sales and producer prices declined more than expected in December, while production at U.S. factories fell more than expected and November output was weaker than thought. The Dow Jones Industrial Average (.DJI) fell 613.89 points, or 1.81%, to 33,296.96 and the S&P 500 (.SPX) lost 62.11 points, or 1.56%, to 3,928.86. Today's economic data served as a trigger to initiate a profit taking spell and the groups with most profits to take have been the ones that have done best last year," said Stovall. Earlier in the day, St. Louis Fed President James Bullard and Cleveland Fed President Loretta Mester stressed on the need to raise rates beyond 5% to bring inflation to heel. The S&P 500 posted nine new 52-week highs and 2 new lows; the Nasdaq Composite recorded 78 new highs and 20 new lows.

☆ Investing in last year's top 10 stocks is 'a recipe for disaster,' expert says
▼ + stars: | 2023-01-14 | by ( Ryan Ermey | ) www.cnbc.com time to read: +2 min

Each of the 10 top-performing stocks in the S&P 500 index belonged to the same sector: energy. In a year in which every other sector in the S&P 500 lost money, energy stocks delivered an average return of 59%, with top performer Occidental Petroleum returning 119%. However, that doesn't necessarily mean you should go out and add any of these stocks to your portfolio now, investing experts say. "Doing a complete repositioning of your portfolio is a recipe for disaster." Here's why investing experts say to tread carefully before adding last year's winners to your portfolio.

☆ 'The market is built on a bedrock of total complacency': A former top TD Ameritrade technical analyst says stocks will fall another 20% this year as investors begin to realize a Fed pivot isn't in the
▼ + stars: | 2023-01-14 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

He also thinks earnings expectations are too high and will come down. This hawkish policy will eventually lead to a recession this year, Bierman said, a view that is shared by many on Wall Street. "The market has not priced in earnings misses, the market has priced in earnings beats," he said. Bierman's views in contextBierman's recession call has become a somewhat consensus view on Wall Street. RIA AdvisorsThis translates to lackluster expectations for stocks among Wall Street strategists.

☆ Now is an 'ideal' time for young people to start building wealth, says investing expert
▼ + stars: | 2023-01-09 | by ( Ryan Ermey | ) www.cnbc.com time to read: +1 min

It shows a screengrab from a TikTok picturing a young, smiling woman, whose username is cropped out. It's enough to cause many investors to panic, when most market experts will tell you to do the exact opposite. Dollar-cost averaging is a classic long-term investing strategy that involves investing a set amount of money into your portfolio at regular intervals. There's no guarantee that the woman from TikTok is doing it or plans to. But if she is, here's why she's right to be excited that the market is down.

☆ Technical analysts agree January's strong start is a good omen, but here's what they expect to happen next
▼ + stars: | 2023-01-09 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

Redler expects the S & P 500 could reach 3,980 to 4,000 before reversing lower. The S & P 500 was trading at about 3,940 on Monday. He expects the S & P 500 to put in a near-term top this week. He is watching the 200-day moving average on the S & P 500, which is literally the average of the last 200 closes. "The SPX [S & P 500] has spent the majority of the last three weeks between 3,800 and 3,900," Krinsky wrote in a note.

☆ The first quarter could determine how good or bad the new year will be
▼ + stars: | 2023-01-01 | by ( Patti Domm | In | ) www.cnbc.com time to read: +9 min

The first quarter of the third year of a presidential term is consistently the best quarter for S & P 500 performance, according to CFRA data. "If everyone says the first half is going to be bad and the second half is going to be good, it could be the opposite. "The timing of the economic rebound probably starts in the second quarter so the market can look forward to it," he said. "Right now it's estimated to be down 3% year-on-year … We are looking at an earnings recession which is typically coincident with an economic recession." The second quarter is expected to be down 2.3%.

☆ Wall St ends 2022 with biggest annual drop since 2008
▼ + stars: | 2022-12-30 | by ( Echo Wang | ) www.reuters.com time to read: +4 min

The benchmark S&P 500 (.SPX) has shed 19.4% this year, marking a roughly $8 trillion decline in market cap. The tech-heavy Nasdaq (.IXIC) is down 33.1%, while the Dow Jones Industrial Average (.DJI) has fallen 8.9%. The S&P 500 growth index has fallen about 30.1% this year, while the value index (.IVX) is down 7.4%, with investors preferring high dividend-yielding sectors with steady earnings such as energy. Ten of the 11 S&P (.SPX) sector indexes dropped on Friday, led by real estate and utilities. The S&P 500 posted no new 52-week highs and no new lows; the Nasdaq Composite recorded 85 new highs and 134 new lows.

☆ Jobs report hangs over markets in first week of new year
▼ + stars: | 2022-12-30 | by ( Patti Domm | In | ) www.cnbc.com time to read: +5 min

The first week of the new year will be a busy one with December's jobs report looming Friday, and many investors may be looking for ways to fix up their portfolios after 2022's battering. What to watch Friday's jobs report is one of two big events on the market calendar in the coming week. The jobs report is very important because it is the final employment report the Fed will consider before its next meeting, Feb. 1. For all years since 1945, the S & P 500 has averaged an 8.6% gain and was up 70% of the time. The worst major S & P industry sector of 2022 was communications services, down 40.4% as of Thursday's close.

☆ The S&P 500's best and worst stocks of 2022, and where they will go from here
▼ + stars: | 2022-12-30 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The S & P 500 may be headed for its worst yearly performance since 2008, but some stocks still outperformed this year. The strategist has a 12-month target of 4,575 on the S & P 500, implying about a 19% gain from Thursday's close. Here are the best and worst stocks in the S & P 500. First Solar shares are also in the top 10 best-performing stocks in the S & P 500. Other worst performers in the S & P 500 include Match Group , Align Technology and SVB Financial Group .

☆ What happens to stocks after a 20% down year? It's complicated
▼ + stars: | 2022-12-30 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

The S & P is on the cusp of a rare 20% annual decline. First, the bad news: this would be the fourth worst year for stocks since 1945, behind only 2008, 1974 and 2002. Wall Street's worst years (S & P 500, since 1945) 2008 down 38.5% 1974 down 29.7% 2002 down 23.4% 2022 down 20%? That beats a typical year, when the S & P rises 70% of the time and posts an average gain of 8.6%. (S & P 500) Four worst-performing sectors: up 14.8% Four best-performing sectors: up 11.6% S & P overall avg gain: up 14.0% Source: CFRA Research Bottom line: Unless you have an iron stomach, buy and hold strategies are typically the best.

☆ S&P 500 futures rise slightly as Wall Street heads into the final trading days of 2022
▼ + stars: | 2022-12-28 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

S&P 500 futures rose slightly on Wednesday night, as investors head into the final trading days of 2022. Dow Jones Industrial Average futures added 29 points, or 0.09%. S&P 500 and Nasdaq 100 futures climbed 0.14% and 0.23%, respectively. The S&P 500 fell 1.2%, while the Nasdaq Composite dropped 1.35%. The Dow has lost 9.5%, while the S&P 500 shed 20.6%.

U.S.-listed shares of Chinese firms such as JD.Com Inc , Alibaba Group Holding Ltd and Pinduoduo Inc (PDD.O) climbed around 2% each in premarket trading. With a handful of trading sessions left this year, investors are hoping for a so-called "Santa rally" at the end of what has been a largely disappointing month for U.S. equities. Economic data so far has offered little hope that the Fed could hit the brakes on its interest rate hikes. ET, Dow e-minis were up 147 points, or 0.44%, S&P 500 e-minis were up 12.5 points, or 0.32%, and Nasdaq 100 e-minis were up 5 points, or 0.05%. Reporting by Amruta Khandekar and Ankika Biswas in Bengaluru; Editing by Vinay Dwivedi and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

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