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☆ PE firm Arcline tops KKR's offer for Circor as bidding war intensifies
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +2 min

June 28 (Reuters) - Private equity firm Arcline Investment Management on Wednesday proposed to buy Circor International (CIR.N) for $57 per share in cash, topping a rival bid from KKR & Co (KKR.N) for the industrial machinery maker. Circor, which makes flow-control products to help manage and control liquids and gases, did not respond to a Reuters request for comment. Arcline's funds own a direct competitor of Circor called Fairbanks Morse Defense, a provider of diesel engines and equipment to the U.S. Navy, KKR said. It said its bid was supported by financing from BMO Capital Markets Corp and Bank of Montreal. Circor too had said on Tuesday that KKR offered more financing certainty as well as a clearer and faster path to antitrust approvals.

Persons: Arcline, Circor, Priyamvada, Pratyush Thakur, Dhanya Ann Thoppil, Anil D'Silva, Arun Koyyur Organizations: Arcline Investment Management, Circor, KKR & Co, KKR, Fairbanks Morse Defense, U.S . Navy, Defense Industrial Base, BMO Capital Markets Corp, Bank of Montreal, BMO Capital Markets, Thomson Locations: Circor, Bengaluru

☆ Here's a list of weight-loss drugs in development and awaiting approval to take on Ozempic
▼ + stars: | 2023-06-28 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +10 min

The company's chief rival, Denmark-based Novo Nordisk (NVO), also published promising data on drugs in its pipeline, including its own oral weight-loss treatment. Other pharmaceutical companies are racing to compete with Novo Nordisk and Eli Lilly, including Amgen (AMGN) and Pfizer (PFE). Barclays on Tuesday projected Eli Lilly's three leading obesity-and-diabetes drugs could generate nearly $49 billion in combined sales in 2030. Eli Lilly Eli Lilly has multiple drugs in development that fall under the GLP-1 umbrella in various stages of clinical development. Novo Nordisk Novo Nordisk currently dominates the market for GLP-1 drugs, with three products in the class on the U.S. market already: Ozempic, Wegovy and Rybelsus.

Persons: It's, Eli Lilly, Eli Lilly's, retatrutide, Lilly, there's, Lilly's, Geoff Meacham, Eli Lilly Eli Lilly, Jim Cramer, Evan David Seigerman, —, — Morgan Stanley, Wegovy, Rybelsus, Jim Cramer's, Jim, Mike Segar Organizations: Club, Novo Nordisk, New England, of Medicine, American Diabetes Association, Pfizer, Reuters, Barclays, Bank of America, CNBC, JPMorgan, Drug Administration, Equity, BMO Capital, Novo Nordisk Novo Nordisk, GLP, FDA, Nordisk, Company Locations: San Diego, Denmark, GLP, It's, Novo, Novo Nordisk's, Branchburg , New Jersey

☆ Eli Lilly's weight loss drugs trounce sky-high expectations, boosting the stock
▼ + stars: | 2023-06-27 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +5 min

What's more, some showed no signs their weight loss was leveling off, suggesting they could continue to shed pounds. (Both use semaglutide, but Ozempic is marketed as a type 2 diabetes treatment, while Wegovy is primarily for weight loss.) Bank of America's Geoff Meacham said retatrutide "exceeded expectations" for weight loss. "This is important, as while the overall 22.4% weight loss was impressive, looking at men and women separately, weight loss was 21.9% and 28.5%, respectively, with the slope in females not yet plateauing. Schott also described the weight loss as "impressive" and said it will likely compare favorably with Novo's next-generation drug CagriSema, which is expected to show weight loss of more than 25% when it releases its next update.

Persons: Eli Lilly, What's, Lilly, Lilly's, Carter Gould, Gould, orforglipron, Bank of America's Geoff Meacham, retatrutide, Meacham, Chris Schott, Schott, Novo's, Evan David Seigerman, Seigerman, Morgan Stanley, Terence Flynn, — CNBC's Michael Bloom Organizations: American Diabetes Association, Wall, Novo Nordisk, Barclays, Bank of America's, JPMorgan, Lilly, BMO Capital, Indianapolis, ~$ Locations: Novo

☆ Buy Sherwin-Williams on a slightly better-than-expected housing market, BMO says
▼ + stars: | 2023-06-26 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Stronger demand for materials and a better-than-expected housing market could lift Sherwin-Williams , according to BMO Capital Markets. The firm upgraded the paint maker to outperform from market perform on Monday, with a $275 per share price target. Sherwin-Williams stock has gained more than 4% year to date. SHW YTD mountain Sherwin-Williams stock has ticked up roughly 4% from the start of the year. BMO analyst John McNulty said that a slightly warmer housing market underpins the firm's upgrade to earnings per share in 2024 and 2025.

Persons: Sherwin, Williams, John McNulty, McNulty, — CNBC's Michael Bloom Organizations: BMO Capital Markets, BMO

☆ These stocks with 'multiyear growth' prospects are about to catch fire, Wall Street analysts say
▼ + stars: | 2023-06-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

CNBC Pro combed through top research to find stocks best positioned for multiyear growth. "A multi-year growth story & we're just getting started," the analyst said. "If that's the case, we see the firm's current valuation as at least sustainable, if not with bias to the upside as conviction builds in the multiyear growth story," he wrote. Entegris — BMO Capital Markets, outperform rating "A Multi-Year Growth Story & We're Just Getting Started. If that's the case, we see the firm's current valuation as at least sustainable, if not with bias to the upside as conviction builds in the multiyear growth story."

Persons: Bhavesh Lodaya, Lodaya, David Hynes Jr, Hynes, Matthew Smith, Smith, Westrock, Macy's —, — Morgan Stanley, Bloom, Conway, Sprout Organizations: CNBC, Bloom Energy, Entegris BMO Capital Markets, Sprout, Westrock, Macy's — JPMorgan, BMO Capital Markets Locations: Rock , Arkansas

☆ Central banks around the world just made borrowing costs more expensive
▼ + stars: | 2023-06-23 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

The central banks of the UK, Turkey, Norway, and Switzerland all raised interest rates yesterday. The Bank of England is the UK's central bank. Let's start with the Bank of England's decision to raise interest rates by 50 basis points and bring borrowing costs to 5%. Turkey's central bank, meanwhile, raised interest rates by 650 basis points to 15%, which was somehow less than markets expected. Just to cover our bases: Norway's central bank raised its core lending rate by half a percentage point, and Switzerland's policymakers hiked its benchmark rate by a quarter point.

Persons: Phil Rosen, Powell, Myron Jobson, Recep Tayyip Erdogan, Spencer Platt, Jerome Powell's, Goldman Sachs, David Rosenberg, it's, Warren Buffett, Jason Ma, Nathan Rennolds Organizations: Bank of England, Bank of, Interactive, New York Stock Exchange, U.S . House, Dow, Getty, Apogee Enterprises, Homeowners, Apple, Microsoft, Nvidia, S3 Partners, BMO Capital Markets, Berkshire Hathaway, Gates Foundation Locations: Manhattan, Turkey, Norway, Switzerland, Maremagnum, Turkey's, New York City, U.S, New York, Los Angeles, London

☆ There's a lot of value for value investors in office REITs, says BMO's Kim
▼ + stars: | 2023-06-23 | 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 EmailThere's a lot of value for value investors in office REITs, says BMO's KimJohn Kim, analyst at BMO Capital Markets, joins 'Squawk on the Street' to discuss if Kim would invest in office REITs right now, Kim's thoughts on the dividend yields available, and more.

Persons: BMO's Kim John Kim, Kim Organizations: BMO Capital Markets

☆ Lithium producers warn global supplies may not meet electric vehicle demand
▼ + stars: | 2023-06-22 | by ( Ernest Scheyder | Thomson Reuters | Ernest Scheyder Is An Award-Winning Senior Correspondent Covering The Green Energy Transition | ) www.reuters.com time to read: +4 min

"You could end up in a crisis situation where the battery companies don't have the security of (lithium) feedstock," Stu Crow, chairman of Lake Resources (LKE.AX), said on the sidelines of this week's Fastmarkets Lithium and Battery Raw Materials conference in Las Vegas. This week, Lake Resources became the latest lithium company to announce a project delay, pushing back first production from its Kachi lithium project in Argentina by three years. Albemarle (ALB.N), the world's largest lithium producer, is growing rapidly across the Americas, Asia and Australia. Still, it expects global lithium demand to exceed supply by 500,000 metric tons in 2030. ATTENDANCEOnce a niche event attended by industry die-hards, the Fastmarkets conference has grown rapidly alongside breakneck lithium demand.

Persons: Stu Crow, Eric Norris, Sarah Maryssael, Allkem, Goldman Sachs, Rahim Bapoo, Tara Berrie, Ernest Scheyder, David Gregorio Our Organizations: LAS VEGAS, Ford, Lake Resources, Raw Materials, Exxon Mobil, Banking, JPMorgan, BMO Capital Markets, Mitsui, hasn't, Rivian, Thomson Locations: Stellantis, Las Vegas, Argentina, Americas, Asia, Australia

☆ These 16 cheap, fast-growing stocks are the best opportunities in their red-hot sector, according to BMO Capital Markets
▼ + stars: | 2023-06-22 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Here are 16 industrials stocks with growth at a reasonable price, according to BMO Capital Markets. Wall Street's obsession with technology stocks has overshadowed what's been an impressive rebound for the often-overlooked industrials sector. Industrials are on pace for their best month since last year in both absolute and relative terms, according to BMO Capital Markets. BMO Capital Markets16 industrials stocks that are cheap with strong growthIndustrials may struggle to maintain their recent momentum, but BMO doesn't recommend avoiding the red-hot sector entirely. BMO Capital MarketsBelow are 16 stocks in the impressive industrials sector that offer better earnings growth than the median stock in the S&P 500 while also trading at a below-median valuation.

Persons: Industrials, what's, Brian Belski, Belski, he's, it's Organizations: BMO Capital Markets, Bank of America, BMO Capital, BMO Locations: laggard, industrials

All S&P 500 sub-sectors fell, with the rate-sensitive real estate sector (.SPLRCR) leading the declines, with a 0.8% drop. In the previous session, Wall Street's main indexes fell as investors booked profits in the wake of a sustained market rally amid signs of weakening global demand. Still, the benchmark S&P 500 (.SPX) has advanced around 14% so far this year. If a U.S. recession becomes more likely, Goldman Sachs (GS.N) said investors should maintain upside exposure to equities by using options to hedge a potential 23% fall in the S&P 500 index (.SPX). It holds chances of a recession at 25%, and in that base case, it expects the S&P 500 to rise to 4,500 - about 2.5% higher than current levels.

Persons: Jerome Powell, Powell, Volcker, that's, Peter Cardillo, Goldman Sachs, Li Auto, advancers, Shubham Batra, Johann M Cherian, Ankika Biswas, Stephen Culp, Arun Koyyur Organizations: FedEx, China EV, Dow, Financial, U.S, Fed, Spartan Capital Securities, United Parcel Service, Dow Jones, Nasdaq, Nio Inc, Xpeng, Adobe, Capital Markets, NYSE, Thomson Locations: China, U.S, Bengaluru

☆ A.I. should help this software company get customers to stay and spend more, BMO says
▼ + stars: | 2023-06-21 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Artificial intelligence could help Adobe win customers and get them to pay more for products, according to BMO Capital Markets. Analyst Keith Bachman upgraded the software stock to outperform from market perform and hiked his price target by $70 to $570. His new price target implies shares could rally 17.3% in the next year from Tuesday's close. "We believe that ADBE can capture price/mix, as well as new users, through generative AI," he said in a note to clients Wednesday. He added that users would likely be willing to spend more on solutions that utilize AI.

Persons: Keith Bachman, Bachman, — CNBC's Michael Bloom Organizations: Adobe, BMO Capital Markets, Adobe Express Locations: Tuesday's

☆ Analysis: Auto firms race to secure non-Chinese graphite for EVs as shortages loom
▼ + stars: | 2023-06-21 | by ( Eric Onstad | ) www.reuters.com time to read: +6 min

Auto firms have been slow to plan for graphite shortages, focusing mainly on better-known battery materials lithium and cobalt, even though graphite is the largest battery component by weight. Graphite shortages are expected to rise in coming years, with a global supply deficit of 777,000 tonnes expected by 2030, Project Blue projections showed. China produces 61% of global natural graphite and 98% of the final processed material to make battery anodes, BMI said. Agreeing graphite supply deals is complex, requiring extensive safety testing for material going into each model of EV that can take up to three years. Natural graphite anodes tend to be cheaper and are beneficial for cell capacity and power output, allowing cars to run further distances before charging.

Persons: Tomas Bergman, Handout, there's, Mark Thompson, Australia's, Northvolt, Thompson, Talga, Mercedes, Brent Nykoliation, Tesla, George Miller, Reitumetse, Eric Onstad, Veronica Brown, Sharon Singleton Organizations: Talga Group, Reuters, Mercedes, Auto, Australia's Talga, BMO Capital Markets, Benchmark Mineral Intelligence, BMI, Reuters Graphics, Toyota, Ford, Tesla Inc, Toyota Motor Corp, Ford Motor, Benz, Renault, NextSource, Syrah Resources, Magnis Energy Technologies, U.S, European Union, Thomson Locations: Norrbotten, Sweden, China, Madagascar, Mozambique, United States, Europe, U.S, Mauritius, CHINA, Western

☆ Investors should ride this market rally to new all-time highs early next year by making these 10 investments now, according to 6 market strategists
▼ + stars: | 2023-06-19 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

If the S&P 500 can avoid a pullback, it could make a push toward its all-time high. Investors who weren't ready for the remarkable stock market rally of the last three months may not have completely missed out yet, according to several strategists Insider recently spoke with. While some top investing minds think this market rally isn't trustworthy, others are confident that the path of least resistance for US stocks is higher. He believes the S&P 500 is more likely to hit new highs in early 2024 than retest its Fall low of about 3,500. The S&P 500 is trading at roughly 19.2x forward earnings, he said, adding that equal-weighted funds have a forward earning ratio of about 15.5x.

Persons: Brad Bernstein, we've, I've, Bernstein, Jason Draho, Bernstein's, Draho, Jack Caffrey, Caffrey, Michael Sheldon, chartmaster David Keller, Keller, who's, David Keller, StockCharts.com, Brian Belski, Sheldon, Belski, that's Organizations: Federal Reserve, UBS Wealth Management, UBS Global Wealth Management, JPMorgan Asset Management, Fed, RDM Financial, BMO Capital Markets, BMO Capital Locations: US

☆ Online brands and companies like Nike are going old-school and returning to brick-and-mortar department stores
▼ + stars: | 2023-06-19 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +3 min

Online brands like Warby Parker and Allbirds are also opening brick and mortar shops. Brands that have moved away from department stores and physical shops in recent years are now pivoting back to traditional retail tactics after experiencing first-hand the difficulty of acquiring and retaining customers directly online. And they're not alone: even digital-first brands like Warby Parker and Allbirds have also opened new physical storefronts. A recent study by UBS predicted that retail stores would continue to close over the next five years and estimated that 50,000 shops would disappear by 2028. Nike has also recently announced that it's expanding partnerships with other physical retailers like Designer Brands and Foot Locker after years of steadily cutting its wholesale relationships.

Persons: it's, Warby Parker, Allbirds, —, they're, Simeon Siegel, Noble, Locker Organizations: Nike, Service, Brands, Journal ., Interim, Getty, BMO Capital Markets, International Council of Shopping Centers, Ross Stores, Barnes, Body Works, Walmart, UBS Locations: Macy's, Burlington

☆ Motor vehicles, building materials lift US retail sales in May
▼ + stars: | 2023-06-15 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

WASHINGTON (Reuters) - U.S. retail sales unexpectedly rose in May as consumers stepped up purchases of motor vehicles and building materials, which could help to stave off a dreaded recession in the near term. Retail sales increased 0.3% last month after rising 0.4% in April, the Commerce Department said. SLOWER MOMENTUMExcluding automobiles, gasoline, building materials and food services, retail sales gained 0.2% last month. Data for April was revised slightly lower to show these so-called core retail sales rising 0.6% instead of the previously reported 0.7%. With price pressures easing in May, economists estimated that core retail sales increased 0.2% after adjusting for inflation.

Persons: ”, Robert Kavcic, Mike Graziano, Ben Ayers, Unadjusted, Conrad DeQuadros, Tim Quinlan Organizations: WASHINGTON, Federal Reserve, Fed, Wednesday, BMO Capital Markets, Commerce Department, Reuters, Saks Fifth, REUTERS, RSM, Consumers, Nationwide, Labor Department, Treasury, Atlanta Fed, Writers Guild of America, Brean, Manufacturing, Federal Locations: Minnesota, U.S, Toronto, New York City, Columbus , Ohio, Texas, California, Writers Guild of America . Georgia, Florida , Illinois , Indiana , Connecticut, New York, Philadelphia, Wells, Charlotte , North Carolina

☆ US retail sales rise; weekly jobless claims steady at higher levels
▼ + stars: | 2023-06-15 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

Retail sales are mostly goods and are not adjusted for inflation. Food services and drinking places are the only services category in the retail sales report. Sales at food services and drinking places, the only services category in the retail sales report, rose 0.4%. UNDERLYING STRENGTHExcluding automobiles, gasoline, building materials and food services, retail sales gained 0.2% last month. Data for April was revised slightly lower to show these so-called core retail sales rising 0.6% instead of the previously reported 0.7%.

Persons: Robert Kavcic, Jerome Powell, Unadjusted, Lucia Mutikani, Chizu Nomiyama, Paul Simao Organizations: Saks Fifth, REUTERS, Commerce Department, Reuters, BMO Capital Markets, Federal Reserve, Treasury, Atlanta Fed, Labor Department, Thomson Locations: New York City, U.S, WASHINGTON, Toronto, Minnesota, Texas, California , Georgia, Florida , Illinois, Indiana, New York

☆ BoC to raise rates once more by 25 bps in July to 5.00% - Reuters poll
▼ + stars: | 2023-06-13 | by ( Milounee Purohit | ) www.reuters.com time to read: +3 min

BENGALURU, June 13 (Reuters) - The Bank of Canada will raise interest rates again in July to 5.00% after a surprise 25 basis point increase last week, according to economists polled by Reuters, who unanimously said the main risk was the central bank might have to do more. The BoC will hike its overnight rate by 25 basis points to 5.00% at next month's meeting, according to 20 of 25 economists in a snap June 8-13 Reuters poll. "When you resume hiking, you don't resume for one 25 basis point hike. All but three of 25 economists forecast the overnight rate to peak at 5.00% or higher, 50 basis points more than was predicted in the last survey published on June 2. Only one of 25 economists expected a rate cut this year, compared with five in the last poll.

Persons: underscoring, Sebastien Lavoie, Lavoie, Doug Porter, Milounee Purohit, Sarupya Ganguly, Ross Finley, Sharon Singleton Organizations: Bank of Canada, Reuters, BoC, Laurentian Bank, BMO Capital Markets, Thomson Locations: BENGALURU

☆ Nike is mending relationships with retailers as more brands recognize the constraints of direct-to-consumer models
▼ + stars: | 2023-06-11 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +3 min

Nike is striking new deals with retailers as brands realize the DTC model isn't all it's cracked up to be. Designer Brands, Macy's, and Foot Locker have each announced expanded relationships with Nike. But, more recently, Nike has expanded partnerships with retailers, including Macy's and DSW owner Designer Brands, the Wall Street Journal reported. In a May presentation, Daniel Heaf, vice president of Nike Direct, said, "People always ask me: Are you a direct business or a wholesale business? Nike's wholesale business grew faster than its direct business between September and November, showing it's still key to the overall business.

Persons: Locker, —, Brands, Macy's, Matt Friend, Daniel Heaf, it's, Simeon Siegel, Siegel Organizations: Nike, Brands, Service, Wall Street Journal, Adidas, BMO Capital Markets, DTC

☆ Stock market news: The Fed meets next week. What can investors expect?
▼ + stars: | 2023-06-11 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

The S&P 500 Index last week entered a bull market, meaning that it notched a 20% rally from its low in October. Moreover, investors appeared calmer than they have in years, after the United States suspended the debt ceiling in time to avoid a default, allowing investors to breathe a sigh of relief. The May Consumer Price Index and Producer Price Index reports, two key inflation prints, are also due the days that the Fed meets. But the United States could still suffer a downgrade to its credit rating, even though it avoided losing its ability to make payments on time. Tuesday: Consumer Price Index report for May and NFIB small business optimism index.

Persons: CNN — Stocks, Price, ”, JJ Kinahan, there’s, Karim El Nokali, Jerome Powell, ” El Nokali, —, Joe Biden, Benjamin Jeffery, Patrick Klein, ” Josh Lipsky, it’s, Olivier d’Assier, “ It’s, George Mateyo Organizations: CNN Business, Bell, CNN, Nasdaq, United, Fed, IG North America, Fitch, AAA, BMO Capital Markets, Franklin, GeoEconomics, International Monetary Fund, Treasury Department, US Treasury, Key Private Bank, Federal Reserve Bank of New York Survey, Consumer, Federal Reserve, Federal, University of Michigan Locations: United States, US

☆ Fading risks, fear of missing out may fuel US stocks after near 20% rally
▼ + stars: | 2023-06-08 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

"Further strength might beget further strength because of the FOMO factor," he added, using the popular acronym for "fear of missing out." "Inflation has clearly subsided, and yet labor market strength has remained intact," wrote BMO Capital Markets chief investment strategist Brian Belski in a recent note. “Moving past the debt ceiling and at least having some economic data that looks ok is actually enough to get some people interested,” said Keith Lerner, co-chief investment officer at Truist Advisory Services. Lerner on Monday shifted his expected S&P 500 range for this year up to 3,800-4,500, from 3,400-4,300 previously, citing improving earnings trends among other factors. For Hans Olsen, chief investment officer at Fiduciary Trust Co, that’s an ominous sign.

Persons: Cash, Chuck Carlson, Brian Belski, BofA, ”, Keith Lerner, Lerner, Monday, John Lynch, Hans Olsen, Olsen, Lewis Krauskopf, Ira Iosebashvili, Diane Craft Organizations: YORK, BofA Global, Deutsche Bank, Horizon Investment Services, BMO Capital Markets, ” BMO, Reuters Graphics, ISI, Advisory, Comerica Wealth Management, Microsoft, Nvidia, Reuters, Thomson

☆ Here's exactly where 6 top investment firms recommend putting your money right now as US stocks start to break out
▼ + stars: | 2023-06-08 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

It has a market-weight rating on six sectors: consumer discretionary, energy, industrials, information technology, materials, and real estate. Goldman SachsGoldman's favorite sectors haven't changed since late April: it's still overweight consumer staples, energy, healthcare, and communication services. Morgan StanleyMorgan Stanley's top sectors are consumer staples, healthcare, and utilities, which reflects its defensive outlook about stocks. The firm is neutral about communication services, energy, financials, industrials, materials, real estate, and tech (excluding cyclicals). It has a neutral "perform" rating on almost all other sectors, including communication services, consumer staples, energy, financials, healthcare, materials, and real estate.

Persons: — Goldman Sachs, Morgan Stanley, Oppenheimer, Truist —, BofA, Savita Subramanian, Goldman Sachs, it's, Morgan Stanley Morgan Stanley's Organizations: Investors, Bank of America, BMO Capital Markets, Tech Locations: Charlotte

☆ BMO's Brian Belski explains why his firm raised S&P 500 price target to 4,550
▼ + stars: | 2023-06-07 | 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 EmailBMO's Brian Belski explains why his firm raised S&P 500 price target to 4,550Brian Belski, chief investment strategist at BMO Capital Markets, Joe Terranova, chief market strategist at Virtus Investment Partners, Jason Snipe, founder and CIO at Odyssey Capital Advisors, and Karen Firestone, CEO at Aureus Asset Management, join ‘Halftime Report’ to discuss market as stocks hit session low.

Persons: Brian Belski, Joe Terranova, Jason Snipe, Karen Firestone Organizations: BMO Capital Markets, Virtus Investment Partners, Odyssey Capital Advisors, Asset Management

☆ CNBC Daily Open: New highs for the S&P and Nasdaq
▼ + stars: | 2023-06-07 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Knife River Corporation CFO Nathan Ring, rings the bell on the floor of the New York Stock on June 01, 2023 in New York City. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Despite stumbles in some big-name stocks yesterday, markets managed to climb as the uncertainty of previous weeks dissipated. Apple shares dipped 0.2% as investors digested information on the technology giant's new mixed-reality headset.

Persons: Nathan Ring, Goldman Sachs, Samik Chatterjee, Coinbase, weren't fazed, — Organizations: New York Stock, CNBC, Apple, Worldwide Developers, JPMorgan, Boeing, BMO Capital Markets, Nasdaq, Dow Jones, Fed Locations: New York City

☆ CNBC Daily Open: Troubled economies, calm markets
▼ + stars: | 2023-06-07 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Despite stumbles in some big-name stocks yesterday, U.S. markets managed to climb as the uncertainty of previous weeks dissipated. Apple shares dipped 0.2% as investors digested information on the technology giant's new mixed reality headset. The CBOE Volatility Index, a measure of investors' 30-day expectations and typically seen as Wall Street's fear gauge, dropped to 13.96 yesterday.

Persons: Goldman Sachs, Samik Chatterjee, Coinbase, weren't fazed, —, That's Organizations: CNBC, Apple, Worldwide Developers, JPMorgan, Boeing, BMO Capital Markets, Nasdaq, Dow Jones, Fed Locations: Lianyungang Port, East China's Jiangsu, U.S

☆ BMO raises S&P 500 outlook, says 'all the doom and gloom' has yet to happen
▼ + stars: | 2023-06-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

The stock market's strength in 2023 is giving BMO Capital Markets reason to turn more bullish on the setup going forward. But even after a slew of significant rate increases, signs point to easing inflation and a strong and a resilient labor market, Belski said. .SPX YTD mountain S & P 500's 2023 performance "In other words, we believe the anticipated recipe for disaster is simply not present," he wrote. "So, from our perspective, all the worries that damaged 2022 market performance are slowly beginning to subside." "So, despite an extremely strong YTD sector performance, we believe the momentum, even if it slows a bit, is likely persist for the foreseeable future."

Persons: Brian Belski, CFRA's Sam Stovall, Belski, Price, — CNBC's Michael Bloom Organizations: BMO Capital, Federal Reserve Locations: Tech

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