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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full post-market discussion with SoFi's Liz Young, NewEdge’s Cameron Lawson and Truist’s Keith LernerSoFi's Liz Young, NewEdge Wealth’s Cameron Lawson and Truist’s Keith Lerner join 'Closing Bell: Overtime' to discuss market rallies, earnings season, inflation and the Fed.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSnap earnings beat, revenue misses, despite strong daily active usersCNBC's Julia Boorstin joins 'Closing Bell: Overtime' to report on Snap's earnings results. NewEdge Wealth’s Cameron Lawson and Truist’s Keith Lerner react.
Still waiting for a dramatic earnings decline, but what if it happened? Approaching 20% of the S & P 500 reporting, and so far companies are not slashing estimates. That's why the S & P 500 recovers. Declines of 20% or more in the S & P are fairly uncommon: the S & P 500 has declined 20% or more only 10 times since 1950. Bottom line: Not only is there no evidence of an imminent earnings armageddon, long-term investors shouldn't be overly concerned even if there is one.
It seems that Powell wants to atone for his mistake of repeatedly calling inflation “transitory” for much of last year. Keep in mind that the Fed’s series of rate hikes are unprecedented in the “modern” era of central banking, i.e. after Alan Greenspan became Fed chair in 1987 and the Fed became far more transparent. Rate hikes raise the costs for companies to pay down their debt, increasing the possibility of corporate bankruptcies and defaults on commercial loans. As long as inflation remains the bigger issue for the economy, the Fed is going to focus more on getting prices under control.
Feared stock market bottom retest is now underway
  + stars: | 2022-09-24 | by ( Michael Santoli | ) www.cnbc.com   time to read: +8 min
The first 60% reading was not at the decisive market low, though a year after each of them stocks were higher. The S & P index, maybe, at just under 16-times forecast profits, with some cross-asset models saying it should be perhaps two multiple points cheaper. Outside of the five largest S & P 500 names (Apple, Microsoft, Alphabet, Amazon and Tesla), the rest of the index is closer to a 14 multiple, with the equal-weighted S & P around 13. The three-year S & P 500 total return is still 9% annualized, meaning the bear hasn't yet really cut into muscle for longer-term investors. We'll see how this all plays into the feared market retest now underway.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's not a bad plan to start edging in to the markets, says BNY's Alicia LevineKeith Lerner of Truist and Alicia Levine of BNY Mellon Wealth Management join 'Closing Bell: Overtime' to discuss the Fed's impact on the markets and how they're positioning themselves heading into the end of the year.
The S&P 500 is down more than 22% this year. If the S&P 500 closes below the mid-June low in the days ahead, that may prompt another wave of aggressive selling, Stovall said. Goldman Sachs, meanwhile, cut its year-end target for the S&P 500 by 16% to 3,600 points from 4,300 points. "The increased probability of breaking the June S&P 500 price low may be what it takes to invoke even deeper fear. A recession would likely push the S&P 500 to trade between 3,000 and 3,500 in 2023, Jolly said.
Lerner said investors should also realize that higher rates in the bond market could pressure stocks as investors look for attractive yield elsewhere. Sam Stovall, chief investment strategist at CFRA, said the more hawkish Fed does not mean the market will keep from rallying in the fourth quarter. The fourth quarter in a mid-term election year is often positive, after stocks crater in September and early October in the typical seasonal pattern. Stovall said he is less enthusiastic about a fourth quarter rally, but it could still happen. "I'm not giving up on a fourth quarter rally, but it might start with a lower case 'r'," he said.
(CNN) Saying goodbye is never easy, but the Goldberg family is doing the best they can in the new season of "The Goldbergs." The show wasted no time addressing the exit of Jeff Garlin from the sitcom, mentioning in the opening moments of Wednesday's season premiere that patriarch Murray had passed away "just a few months ago" and went on to show the family still processing their grief. Adam and Barry worked through some of their feelings in a "Field of Dreams"-inspired plot. The process forces Beverly to confront Murray's absence and her inability to go through some of his remaining belongings. She ultimately decides it's time to do so, clearing a closet full of his clothes and getting rid of his old chair.
On the morning of Nov. 29, 1985, a couple entered The University of Arizona Museum of Art in Tucson, Arizona. Within minutes, "Woman-Ochre" — a painting by the Dutch-American artist Willem de Kooning — was gone. The University of Arizona Museum of ArtAmong Van Auker's purchase was a painting that hung behind the couple's bedroom door, he told CNBC. Badly damagedOnce the museum took possession of the painting, Miller said, the search was on to find a conservator with the expertise required to repair it. When the painting was returned, it was in "very poor condition," said Laura Rivers, associate paintings conservator for the J. Paul Getty Museum.
Welcome to this weekly roundup of Investing stories from deputy editor Joe Ciolli. Yuriko Nakao/Getty ImagesHello and welcome to Insider Investing. I'm Joe Ciolli, and I'm here to guide you through the current market and investing landscape. Here's what's on the docket:If you aren't yet a subscriber to Insider Investing, you can sign up here. Dason ThomasDason Thomas says he began mining crypto in his garage to earn altcoins like doge and litecoin.
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