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U.S. military says Somalia strike killed 30 al Shabaab fighters
  + stars: | 2023-01-21 | by ( ) www.reuters.com   time to read: +1 min
WASHINGTON, Jan 21 (Reuters) - A U.S. military strike has killed approximately 30 Islamist al Shabaab militants near the central Somali town of Galcad, where Somalia's military was engaged in heavy fighting, U.S. Africa Command said in a statement. U.S. Africa Command, the military arm of the American government's presence on the continent, said no civilians were injured or killed in the strike. Al Shabaab fighters had stormed a Somali military base in Galcad on Friday and killed at least seven soldiers, according to the Somali government and the militant group. Al Shabaab has been fighting since 2006 to topple the country's central government and install its own rule, based on a strict interpretation of Islam. Friday's attack underscored the formidable threat that al Shabaab poses for Somalia's military, despite government successes against the al Qaeda-allied militants last year.
"'We believe Asian markets are well positioned vs. developed markets as we expect China re-opening to be a key driver, which would benefit even Asia ex China markets," McCarthy wrote. Broadening that out even further, emerging markets in general are a favorite of many investment strategists. But emerging markets can be tricky for investors, and volatile. Another way for investors to play a recovery in emerging markets, with more dispersed currency and political risk, could be sector funds tied to commodities. "I can buy ETFs that have exposure to say BHP, Rio Tinto, Anglo American, Glencore," Sohn said.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShort-term technicals can get investors higher, but won't stay higher, says NewEdge's Cameron DawsonCameron Dawson, NewEdge Wealth chief investment officer, joins 'Closing Bell: Overtime' to discuss the Fed's hawkish comments and the market reaction.
We're buying 25 shares of Pioneer Natural Resources (PXD) at roughly $223 each. Following Wednesday's trade, Jim Cramer's Charitable Trust will own 175 shares of PXD, increasing its weighting in the portfolio to 1.39% from 1.2%. We're adding to Pioneer Natural Resources because it has some of the best oil assets in the Permian Basin, located in western Texas and southeastern New Mexico. At a more normalized level of $80 per barrel, Pioneer thinks the annual payout will be $19 per share, offering an annual yield of about 8.5%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBTIG's Jonathan Krinsky offers the technical take on Apple and TeslaJonathan Krinsky, BTIG chief market technician, joins 'Closing Bell: Overtime' to discuss the technicals for Apple and Tesla.
Tesla shares could be limited going forward, according to Evercore ISI. Analyst Chris McNally cut his price target on the electric car maker to $200 per share from $300, noting that the stock has now fallen below a key threshold. "The $150-163 technical level was seen as a critical battleline to defend beyond further weakness…and failed," McNally wrote in a note Tuesday, a day after Tesla shares closed at $149.87. "China stalled growth remains, but with global backlog winding down, investors are also revisiting demand assumptions for the first time. Remember, TSLA has ~60% share US but < 10% share EU/China, while BYD grows to 4x TSLA's NEV size in China," McNally said.
Ellis Hobbs began trading stocks from his mobile phone in 2016. During this time, he heard about trading stocks from a colleague he had been doing business with, he said. It prompted him to apply to Sykes' Millionaire Challenge, an online educational and training course that helps beginners learn to day trade. That same year, he started trying to trade stocks from his mobile phone. He deposited enoughcash into his brokerage account to meet the pattern-day-trader rule, which requires a minimum $25,000 deposit to day trade.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis relief rally has matured and market risk has heightened, says Katie StocktonKatie Stockton, founder and managing partner of Fairlead Strategies, joins CNBC's 'Squawk Box' to break down the technicals driving the latest market action.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTarget Tesla's short-term trading bounce, says OptionsPlay's Jessica InskipJessica Inskip, OptionsPlay director of product, joins 'The Exchange' to discuss the Tesla technicals and the possibility of a bounce for the stock.
In those years, December was just the fourth best month, with the S & P 500 rising 1.35% and gaining 68% of the time. As the S & P 500 exits November, it is down about 17% this year. The S & P 500 could mirror some of the other very negative years. For instance, the S & P 500 was down 18.5% through November in 2002, and then bottomed in March 2003, gaining 26.4% that year. Watching key levels In order to confirm a bullish cycle, Suttmeier said the S & P 500 needs to regain the 40-week moving average at 4,033.
Some strategists see a bottoming for stocks in the first part of 2023, but others say the key indexes could avoid breaking down to a new low but remain volatile. Redler follows short-term technicals, and he said the market could run into weakness around earnings in the first quarter, after a fourth-quarter Santa rally. "I think the Fed does stop raising rates in the first quarter, but it has to leave them there for an entire year. Bank of America strategists cite that inversion, and expectations for a mild recession next year, as a reason behind their negative call on stocks for the first half. A dollar-cost average first half with an expected recovery in the second half," he said.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEnergy is the right sector to be in going into the new year, says Fundstrat's Mark NewtonMark Newton, Fundstrat, joins 'Closing Bell: Overtime' to discuss the possibility of a year-end rally and technicals in the market.
Some strategists expect the S & P 500 to rally as high as about 4,100 and top out there. They had a lead time of two weeks to when the S & P peaked," she said. "I'm not recommending countertrend positions, but I do think think the Nasdaq-100 could outperform temporarily," she said. Scott Redler, partner with T3Live.com, agrees the S & P 500 could rally until 4,100, still below its August high of 4,325. But until then, the S & P will take aim at its 200-day moving average, at 4,078.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI'm surprised bitcoin, ether did not see more damage, says Fairlead's Katie StocktonKatie Stockton, founder and managing partner at Fairlead Strategies, joins CNBC's 'Squawk Box' to break down the technicals driving the latest bear market rally.
Three-Stock Lunch: AMD, HAS & TEVA
  + stars: | 2022-11-14 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: AMD, HAS & TEVACraig Johnson, chief market technician at Piper Sandler, joins 'Power Lunch' to offer his picks for today's three-stock lunch, looking at the technicals of Advanced Micro, Hasbro and Teva Pharmaceuticals.
BlackRock's Rick Rieder said bond yields have not yet hit their peak, and he continues to find the high rates available on short duration bonds and securitized assets to be very attractive. "We're buying all this short-dated high quality securities, investment grade assets, and we just keep buying them," said Rieder, chief investment officer of global fixed income. "I think he's got to draw the line on 'inflation is our objective'... I think he's got to be aggressive about that. "The stickiness of this inflation is pretty extraordinary...I think inflation is coming down," he said.
The Federal Reserve is expected to raise interest rates by three-quarters of a percentage point Wednesday and then signal that it could reduce the size of its rate hikes starting as soon as December. Markets are primed for the fourth 75-basis point hike in a row, and investors are anticipating the Fed will slow down its pace before winding down the rate-hiking cycle in March. Gapen said he expects Fed Chair Jerome Powell to indicate during his press briefing that the Fed discussed slowing the pace of rate hikes but did not commit to it. He expects the Fed would then raise interest rates by a half percentage point in December. The stock market has already rallied on expectations of a slowdown in rate hikes by the Fed, after a final 75 basis point hike Wednesday afternoon.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBeyond the near-term we do think the bear market will keep hold, says Fairlead's StocktonKatie Stockton, Fairlead Strategies founder and managing partner, joins 'The Exchange' to discuss why she is long-term bullish and short-term cautious, the technicals in the S&P 500 and what she infers from the dollar's recent price action.
Investors could see the bear market end as soon as early next year, according to Morgan Stanley's Mike Wilson. "We think the market will hold up and that will be another positive catalyst," Wilson told Bloomberg. Wilson noted that the outlook was fluid and he would turn bearish again if the S&P 500 fell below 3650. "We think the market will hold up and that will be another positive catalyst, because if the market doesn't go down on bad news, and the market doesn't go down on bad news and fundamentals, what do you have?" Wharton professor Jeremy Siegel echoed those points, predicting stocks could rally 30% next year as long as the Fed doesn't overtighten the economy and tip the US into a recession.
Jim Cramer breaks down Halliburton shares after earnings
  + stars: | 2022-10-25 | 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 EmailJim Cramer breaks down Halliburton shares after earningsCNBC's Jim Cramer joins 'Squawk on the Street' to examine the technicals of Halliburton, looking at margin expansions, earnings power, and producers pulling back on oil drilling.
As yields rose from just under 4% Tuesday morning, the stock market rally lost some steam. That should help stocks rally into year end, but he expects the yield to rise again next year, challenging the market. But he is encouraged by the strength of the rally and says there's a chance this could be the start of a new bull market. "You could always side conservatively and assume it's a bear market rally," he said. But he is also watching the market day-to-day, and expects it is in a bear market rally, rather than a new bull trend.
Register now for FREE unlimited access to Reuters.com Register"This is a direct result of higher interest rates offered by the banks looking very attractive compared to other risk assets. Bank of NY Mellon Corp (BK.N) also benefited from higher rates, sending its shares up 6.1%. Overall, higher rates boosted interest incomes for lenders in the third quarter but turbulent markets choked off dealmaking and banks set aside more funds to brace for an economic slowdown. read moreThe S&P 500 banks index (.SPXBK) was up 3.8%. All the 11 S&P 500 sector indexes were higher with technology (.SPLRCT), communication services (.SPLRCL) and consumer discretionary (.SPLRCD) leading with near 3% gains each.
Energy market technicals show safety amid market volatility
  + stars: | 2022-10-14 | 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 EmailEnergy market technicals show safety amid market volatilityCNBC's Carter Worth joins CNBC's Melissa Lee on 'Options Actions' to discuss the technicals for energy markets, identifying key stocks with optimistic outlooks relative to others.
Strategies for betting on Tesla ahead of earnings
  + stars: | 2022-10-14 | 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 EmailStrategies for betting on Tesla ahead of earningsMike Khouw, Carter Worth, and Brian Stutland join CNBC's Melissa Lee on 'Options Action' to talk Tesla actions ahead of the company's earning report, emphasizing the consumer spending considerations, the chart technicals, and how to hedge the price along equity exposure.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarket activity shows shades of 2008, says Strategas' Chris VerroneChris Verrone, head of technical analysis and partner at Strategas, joins 'Closing Bell' to discuss finding S&P market lows, reading the technicals and careful investing in defensives.
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