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☆ Watch CNBC's full interview with NewEdge's Cameron Dawson, Virtus' Joe Terranova and Ed Yardeni
▼ + stars: | 2023-08-17 | 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 EmailWatch CNBC's full interview with NewEdge's Cameron Dawson, Virtus' Joe Terranova and Ed YardeniCameron Dawson, chief investment officer for NewEdge Wealth, Joe Terranova, chief market strategist at Virtus Investment Partners, andEd Yardeni, Yardeni Research president, join 'Closing Bell' to discuss the market seasonality and market laggards.

Persons: NewEdge's Cameron Dawson, Virtus, Joe Terranova, Ed Yardeni Cameron Dawson, andEd Organizations: Virtus Investment Partners, Yardeni Research

☆ Buy this Mexico-based telecom stock after a recent pullback, Citi says
▼ + stars: | 2023-08-17 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Citi says América Móvil's stock recent pullback is a buying opportunity. The firm upgraded the Mexican telecom stock to buy from neutral in a Wednesday note and hiked its price target to $23.50. AMX YTD mountain América Móvil stock has added 2.4% from the start of the year. "Both together are opening what we think is an attractive entry point to add on AMX stocks," Cardona said. "We also see the AMX buyback program as likely to speed up over 2H23 on NWC [can't find what this means] seasonality."

Persons: Andrés Cardona, rebalance, Cardona, — CNBC's Michael Bloom Organizations: Citi

☆ NewEdge Wealth's Cameron Dawson: Keep long-term goals in sight
▼ + stars: | 2023-08-17 | 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 EmailNewEdge Wealth's Cameron Dawson: Keep long-term goals in sightCameron Dawson, chief investment officer for NewEdge Wealth, Joe Terranova, chief market strategist at Virtus Investment Partners, andEd Yardeni, Yardeni Research president, join 'Closing Bell' to discuss the market seasonality and market laggards.

Persons: Wealth's Cameron Dawson, Cameron Dawson, Joe Terranova, andEd Organizations: Virtus Investment Partners, Yardeni Research

☆ US retail spending picked up sharply in July
▼ + stars: | 2023-08-15 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

It was also the fourth straight month that retail sales increased. Retail sales, which are adjusted for seasonality but not inflation, rose 0.7% in July from the prior month, the Commerce Department reported Tuesday. Spending rose on nondurable items, such as clothing and sporting goods. Excluding spending at gasoline stations, retail sales rose 0.8% in July from the prior month. “Goods consumption is holding up even as services spending has taken up an increasing share of household’s wallets.

Persons: —, TJ Maxx, ”, Nikki Baird, Barbie, Taylor, Beyoncé, Taylor Swift, Gregory Daco, haven’t, Wells Organizations: DC CNN, Retail, Commerce Department, Commerce, Walmart, Target, Federal Reserve, Wall Street, Fed, “ Retailers Locations: Washington, EY

CNN —Earnings season continues this week with Target, Walmart, TJ Maxx parent company TJX and other high-profile retailers set to release their quarterly results. That shift showed up in earnings results for retailers including Home Depot and Target earlier this year. US retail spending, which is adjusted for seasonality but not inflation, inched up in June but fell below economists’ expectations. Americans feel hopeful inflation is coolingAmericans are feeling more optimistic that inflation is trending down now and into the future. Consumer spending expectations ticked up from the month before but remain below levels seen during the past year, according to the report.

Persons: TJ Maxx, hasn’t, Christina Hennington, Doug McMillon, they’re, Matt Egan Organizations: CNN Business, Bell, CNN, Target, Walmart, TJ, Shoppers, Home Depot, Refinitiv, “, University of Michigan’s, Consumer, Federal Reserve Bank of New, Federal Reserve, AAA, Labor Locations: Federal Reserve Bank of New York, Russia, Saudi Arabia

☆ Roblox gets upgrade from Wedbush even after weak second-quarter numbers
▼ + stars: | 2023-08-10 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Wedbush isn't deterred after disappointing second-quarter results from Roblox . The firm upgraded the gaming stock to outperform from neutral Wednesday, accompanied by a $37 per share price target. Roblox missed on both the top and bottom line on Wednesday, sending shares plummeting more than 20% . The analyst added that the large-scale stock selloff on Wednesday could present investors with a buying opportunity, with an upside-skewed risk-to-reward profile. RBLX YTD mountain Roblox stock has added nearly 4% from the start of 2023.

Persons: Wedbush, Roblox, Nick McKay, McKay, — CNBC's Michael Bloom

☆ The stock market's 'no recession' relief rally is over. Expect flat markets for the rest of the year.
▼ + stars: | 2023-08-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The "no recession relief rally" has ended for the stock market, according to Stifel's Barry Bannister. The S&P 500 is up about 17% year-to-date, but has declined by about 3% since the start of August. Bannister expects the S&P 500 to finish the year at 4,400, suggesting potential downside of about 2% from current levels. According to data from Bank of America, stock market returns are typically muted between July and December in the third year of the Presidential Cycle, which reference a four-year stock market cycle that tracks with the four-year term of the US President. That's well below consensus estimates of the S&P 500 generating $226 in earnings per share next year.

Persons: Stifel's Barry Bannister, Bannister, Barry Bannister, committement, wouldn't, Stephen Suttmeier Organizations: Service, Federal, Bank of America Locations: Wall, Silicon

☆ A real-estate investor who went from zero savings to financially independent couldn't always qualify for a mortgage. She shares the 2-part strategy she used to buy her first home.
▼ + stars: | 2023-08-09 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +9 min

Then, she obtained a private loan, rather than going through a traditional mortgage lender. She considers herself financially independent, since her rental income is more than enough to cover her bills, but still chooses to work. We worked out a private loan and he didn't need to verify my income or anything. "From what I'd heard from other investors and flippers doing private money, those loans are typically more expensive, like 10%, so I was actually quite fortunate. She ended up being able to pay off the entire private loan early, thanks to an unexpected family tragedy.

Persons: Zeona McIntyre, She's, McIntyre, That's, It's, she'd, there's, who'd, I'd, she's, you'll, I've Organizations: New Locations: New York City, Airbnb, Boulder

☆ Canopy Growth posts smaller Q1 core loss, reiterates going concern doubts
▼ + stars: | 2023-08-09 | by ( Sourasis Bose | ) www.reuters.com time to read: +2 min

A sign featuring Canopy Growth Corporation's logo is pictured at their facility in Smiths Falls, Ontario, Canada, January 4, 2018 . REUTERS/Chris Wattie/File PhotoAug 9 (Reuters) - Canopy Growth (WEED.TO) again raised doubts about its ability to stay afloat as the Canadian pot producer's loss-making streak continued in the first quarter. Canopy had first raised the going concern doubts in June. The company is also facing an investigation from the U.S. Securities and Exchange Commission over the reporting of revenue from BioSteel. The company's adjusted core loss narrowed to C$57.8 million for the three months ended June 30, compared with a loss of C$79 million a year earlier, aided by cost reduction.

Persons: Chris Wattie, Judy Hong, Sourasis Bose, Shinjini Ganguli, Shilpi Majumdar Organizations: REUTERS, U.S . Securities, Exchange Commission, Thomson Locations: Smiths Falls , Ontario, Canada, , Ontario, BioSteel, Verona , Virginia, Bengaluru

☆ Global trade: China's economy suffers new blow as exports drop 14% in July
▼ + stars: | 2023-08-08 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —China’s exports suffered their biggest drop in more than three years in July as global demand slowed, adding further pressure on Beijing to find ways to reinvigorate the world’s second largest economy. For the first seven months of the year, China’s exports decreased 5% from a year earlier. But since last October, those shipments have shrunk as surging inflation and rising interest rates dampen global demand. Weakening exports deal a fresh blow to the Chinese economy, which lost momentum recently after a strong start to the year. The weak trade figures and lower yuan fixing triggered a drop in the Chinese currency in foreign exchange markets.

Persons: ”, Justin Sullivan, Ken Cheung Organizations: Hong Kong CNN —, Capital Economics, Port, Getty, Exports, Analysts, People’s Bank of China, Mizuho Bank, “ Locations: Hong Kong, Beijing, United States, Port of Oakland, Oakland , California, China

☆ A 'tactical correction' is already underway in the stock market, says Bank of America
▼ + stars: | 2023-08-08 | by ( John Melloy | ) www.cnbc.com time to read: +1 min

With stocks struggling again on Tuesday , Bank of America's chart analyst said a "tactical correction" is underway and may continue for a bit longer because of seasonal weakness historically in the upcoming period. "If the tactical resistances highlighted above contain interim rallies on the SPX, then a seasonal corrective phase should continue from the late July high." .SPX YTD mountain S & P 500 YTD With Tuesday's sell-off, the S & P 500 is off by about 3% from its 52-week high — falling as low as 4465 or so. The S & P 500 is typically flat in August and down 1.08% in September on average during the third year of the presidential cycle, Bank of America data showed. The report suggests investors may win by getting more defensive, rotating into utilities and staples for the time being.

Persons: Stephen Suttmeier, Suttmeier Organizations: Bank, Bank of America Securities, Bank of America

☆ August could bring pullback and volatility for stock market, says Ryan Detrick
▼ + stars: | 2023-08-01 | 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 EmailAugust could bring pullback and volatility for stock market, says Ryan DetrickRyan Detrick, Carson Group chief market strategist, joins 'Closing Bell' to discuss his shaky summer seasonality outlook for the markets.

Persons: Ryan Detrick Ryan Detrick Organizations: Carson Group

☆ A property investor in Boulder who went from a college student with zero savings to financially independent explains how she used Airbnb as 'real-estate training wheels' to get started
▼ + stars: | 2023-08-01 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +10 min

But she was able to get her foot in the door by starting with Airbnb and renting her apartment. Eventually, the money she made doing short-term rentals helped her afford her first property. But it wasn't enough to build up savings of any kind, let alone buy a property of her own. She wouldn't have had the confidence to buy an investment property had she not started with Airbnb, she noted. That said, "a lot of states are still allowing people to do short-term rentals," she explained.

Persons: Zeona McIntyre, Airbnb, McIntyre, I'd, I've, It's, wasn't, there's Organizations: New, Airbnb Locations: New York City, Boulder , Colorado, Boulder, Airbnb, That's, Honolulu, Aspen , Colorado

☆ Britain's Centrica hikes dividend as profits at British Gas soar
▼ + stars: | 2023-07-27 | by ( Susanna Twidale | ) www.reuters.com time to read: +1 min

July 27 (Reuters) - Britain's Centrica (CNA.L) proposed a 33% increase in its interim dividend on Thursday after posting a jump in first-half profits, buoyed by higher returns from its British Gas supply business. The British Gas Energy supply division posted adjusted profits of 969 million pounds ($1.25 billion) compared with 98 million the same period last year. Centrica said some 500 million pounds of this related to changes to the regulator's price cap which allowed the company to recoup previously lost costs. The company also announced plans to invest 4 billion pounds by 2028 on security of supply, energy flexibility and renewable power. Overall Centrica's adjusted operating profit for the first six months of 2023 rose to 2.08 billion pounds up from 1.34 billion pounds a year earlier.

Persons: Centrica, Susanna Twidale, Prerna Bedi, Varun, Sharon Singleton Organizations: British Gas, British Gas Energy, Thomson Locations: Britain, London, Bengaluru

☆ Traders are wondering if now is the time for a summer market correction
▼ + stars: | 2023-07-21 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

After a string of up days, the old market leadership of technology and consumer discretionary is looking tired, and that is probably a good thing. Since 1950, August is the third-worst month for the S & P 500, while September is the worst month. That is "historically extreme," Todd Sohn from Strategas told me, though it is consistent with coming off major market lows. A torrid two-month rally has lifted the S & P Technology Sector (XLK) by 16%, but tech has mostly been for sale in the last few days. Still, for investors in the S & P 500, McClellan says no one should be surprised to see a summer correction in the next month or so.

Persons: Tom McClellan, Nate Geraci, Schwab, Todd Sohn, Strategas, John Murphy, Banks, Murphy, UnitedHealth, Johnson, Abbott, Ed Yardeni, McClellan Organizations: The, Growth, P Technology, Microsoft, Apple, Nasdaq, NVIDIA, Meta, Technology, Health Care

☆ Raise cash for upcoming market correction by trimming tech now, says Blue Line Capital's Bill Baruch
▼ + stars: | 2023-07-20 | 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 EmailRaise cash for upcoming market correction by trimming tech now, says Blue Line Capital's Bill BaruchBlue Line Capital's Bill Baruch joins 'Halftime Report' to discuss his decision to trim tech holdings, how seasonality can influence the scale of a market correction, and building investment exposure in the healthcare space.

Persons: Bill Baruch

☆ Halliburton was a cash machine in its latest quarter — and we're making a price target change
▼ + stars: | 2023-07-19 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

On the call, management reiterated that growing free cash flow is a top priority, and they expect over 50% of it to be "returned to shareholders this year." Speaking of cash returns, the company repurchased $248 million worth of shares during the quarter while returning another $144 million to shareholders via dividends. The team also guided for full-year free cash flow generation to be above what analysts were looking for — a material positive for the stock in the back half of the year. While maintaining our 2 rating , we're nudging up our price target to $42 per share from $40), reflecting about 18 times 2024 free cash flow per share estimates or about 11.5 times 2024 earnings estimates. With 2022 free cash flow coming in at $1.43 million, this forecast amounts to about $1.93 million at the midpoint, above Wall Street's $1.84 million expectation.

Persons: we're, Jim Cramer's, Jim Cramer, Jim, Luke Sharett Organizations: Halliburton, HAL, North, Management, Haliburton, Coterra Energy, Natural Resources, CNBC, Halliburton Co, Bloomberg, Getty Locations: Argentina, North America, North American, America, Port Fourchon , Louisiana, U.S

☆ Premarket stocks: Bank CEOs are already complaining about new regulations they haven't even seen yet
▼ + stars: | 2023-07-19 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Investors, worried about the economic atmosphere and the recent regional banking collapse, breathed a sigh of relief at the results. Jamie Dimon, head of JPMorgan Chase, commented on the bank’s Friday earnings call that non-bank financial rivals were “dancing in the streets” as regulators get ready to increase bank capital requirements. “This is great news for hedge funds, private equity, private credit, Apollo, Blackstone,” Dimon said of the proposed regulations. The change, they say, will increase the financial system’s resilience following the failures of three regional banks earlier this year. “The capital in the industry is sufficient,” said Bank of America CEO Brian Moynihan on his company’s earnings call Tuesday morning.

Persons: Jamie Dimon, JPMorgan Chase, ” Dimon, ”, Jeremy Barnum, Barnum, don’t, Brian Moynihan, “ They’ve, Morgan Stanley, James Gorman, Elizabeth Warren, Richard Blumenthal, Tammy Duckworth, Martin Gruenberg, “, Taylor Marr, That’s, they’re, Bryan Mena, Neil Saunders Organizations: CNN Business, Bell, New York CNN, Silicon Valley Bank, JPMorgan, Blackstone, of America, CNBC, Valley Bank, Signature Bank, Federal Deposit Insurance, Redfin, Retail, Commerce Department Locations: New York, Silicon, Basel, Massachusetts, Elizabeth Warren , Connecticut

☆ Retail sales rose in June for third straight month
▼ + stars: | 2023-07-18 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Spending at US retailers rose in June for the third month in a row, in a subdued show of resilience from American consumers. Retail spending, which is adjusted for seasonality but not inflation, rose 0.2% in June, the Commerce Department reported Tuesday. Furniture sales jumped 1.4% in June from the prior month, while spending at department stores fell by 2.4% during the same period. Excluding sales at gasoline stations and on cars and parts, retail sales rose 0.3% in June from May. From a year earlier, overall retail sales rose 1.5% in June, the second-weakest pace since May 2020.

Persons: ”, Ian Shepherdson, Kieran Clancy, —, Lydia Boussour Organizations: DC CNN, Retail, Commerce Department, ”, Employers, Federal Reserve, ” Fed, Fed Locations: Washington, EY

☆ How the creator of Black Girls in Trader Joe's turns $50 of ingredients into a quick and easy meal for 4
▼ + stars: | 2023-07-15 | by ( Renée Onque | ) www.cnbc.com time to read: 1 min

Trader Joe's holds a special place in the heart of many Americans, largely due to its budget-friendly prices and unique offerings like Dark Chocolate Peanut Butter Cups, Baked Lemon Ricotta and Soy Chorizo. Mercedes "Dee" Davis, an avid lover of Trader Joe's, grew a loyal following of her own after sharing her go-to products on her Instagram page. This inspired her to create an online space called "Black Girls in Trader Joe's" (BGITJ) where she shares her favorite buys from the popular supermarket chain. "The appeal for me was the uniqueness, the price point and the seasonality," Davis tells CNBC Make it. While a walk through the aisles of your local Trader Joe's can offer up a nearly endless supply of dinnertime options, there is one meal in particular that Davis says is easy to whip up for a family of four and costs $50 or less.

Persons: Joe's, Mercedes, Dee, Davis Organizations: CNBC

☆ UnitedHealth stock jumps after earnings top estimates despite rising medical costs
▼ + stars: | 2023-07-14 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

UnitedHealth Group' s stock price jumped Friday after the health-care conglomerate reported second-quarter revenue and adjusted earnings that topped Wall Street's expectations despite rising medical costs. UnitedHealth Group is the biggest health-care company in the U.S. by market cap and revenue, and is even bigger than the nation's largest banks. Given its size, UnitedHealth Group is considered a bellwether for the broader health insurance sector. UnitedHealth Care said that was driven by the previously noted uptick in elective surgeries and outpatient care activity, primarily among seniors. But UnitedHealth Group executives indicated that the trend may be reversing.

Persons: UnitedHealth, –, John Rex, Rex, Goldman Sachs Organizations: UnitedHealth, Refinitiv, Healthcare, Analysts, Goldman, Rex . Insurance Locations: Minnesota, U.S

☆ 4 Easy Dishes That Embrace Everyday Vegetables
▼ + stars: | 2023-07-14 | by ( Hetty Lui Mckinnon | ) www.nytimes.com time to read: +1 min

It is impossible to separate vegetables from seasonality — especially at the height of summer — but you can be liberated from the anxiety of cooking certain vegetables at specific times of the year. There are enough causes of angst in the world; finding vegetables should not be one of them. These recipes are built on the hardworking, dependable vegetables we turn to most in daily cooking — the everyday produce that’s accessible, versatile, adaptable and practical. For vegetarian recipes like these, the presence of umami, or “deliciousness” as it roughly translates to from Japanese, is paramount. Umami is ultimately the difference between a dish that is good and one that is delicious — and these are undoubtedly delicious.

☆ Global PC shipments decline eases in Q2, Apple outperforms on MacBook Air demand, research firm says
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +2 min

July 11 (Reuters) - The decline in global personal computer shipments slowed in the second quarter, with Apple outperforming the market with a 51% jump thanks to strong demand for its recently launched 15-inch MacBook Air, data from research firm Canalys showed. Reuters GraphicsMarket leader Lenovo (0992.HK) posted a shipment decline of 18.1%, smaller than the 30.3% fall posted in the previous quarter. HP Inc (HPQ.N) and Dell (DELL.N) also saw smaller falls, compared with the prior quarter. "Inventory levels reduced further in Q2," said Kieren Jessop, research analyst at Canalys. Still, Canalys said it expects 2023 shipments to be lower than 2022 as consumers prioritize spending on essentials in the face of high inflation and rising interest rates.

Persons: Canalys, Ishan Dutt, Kieren Jessop, Samrhitha, Pooja Desai Organizations: Apple, Air, Reuters Graphics, Lenovo, HK, HP Inc, Dell, Thomson Locations: Bengaluru

☆ Shell warns of big drop in gas trading results
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +2 min

July 7 (Reuters) - Shell (SHEL.L), the world's biggest liquefied natural gas (LNG) trader, said on Friday second-quarter gas trading results were expected to come in "significantly lower" quarter-on-quarter, though in line with the previous two years' second quarters. Shell cited "seasonality and fewer optimisation opportunities" as reasons for its lower gas trading result. The company does not provide figures for its gas trading results or say what proportion of its business it accounts for. "Shell's trading update included a number of operational indicators which were broadly in line with our forecasts," said RBC equity analyst Biraj Borkhataria in a note. "Weaker trading across oil and gas which should be expected by the market given lower gas prices and the seasonality of Shell's LNG portfolio."

Persons: Shell, Biraj Borkhataria, Eva Mathews, Nora Buli, David Goodman, Mark Potter Organizations: Shell, RBC, Exxon, Thomson Locations: Norway, writedowns, Bengaluru, Shadia, London

☆ These are the 8 warning signs investors should follow to know if a stock market correction is imminent
▼ + stars: | 2023-07-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Even as the stock market continues to surge more than 25% from its mid-October low, some investors are expecting a correction. These are eight warning signs investors should monitor for a potential stock market sell-off, according to Fundstrat. For those investors, Fundstrat technical analyst Mark Newton highlighted the top warning signs to monitor to gauge whether a stock market correction is imminent. These are the eight warning signs investors should monitor to gauge whether a stock market correction is imminent, according to Fundstrat. So far this year, the mega-cap tech stocks have driven a bulk of the gains in the stock market.

Persons: Mark Newton, —, Newton, REITS, Tom Demark Organizations: Service, Utilities, Staples Locations: Fundstrat

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