'Big Short' investor Michael Burry says he was 'wrong' to tell investors to sell

Hedge funds 'leaned more towards secular growth in January' - Jefferies

March 30, 2023 2:29 PM EDT

Jefferies analyst Steven DeSanctis said in a note to clients on Thursday that hedge funds leaned more towards secular growth in January.

"They increased weight to nearly 65% of portfolio, an OW of 21.8%, up from 17.1% last month," the analyst wrote, with the firm having assessed MSCI Hedge Fund data.

"Much of the increase in OW... More

U.S. stocks are up as investors put bank fears in rearview mirror

March 30, 2023 10:27 AM EDT

By Liz Moyer

Investing.com -- U.S. stocks are rising as investors put banking fears in the rearview mirror and look to close out the month and quarter on a positive note.

At 10:14 ET (14:14 GMT), the Dow Jones Industrial Average was up 60 points or 0.2%, while the S&P 500 was up 0.4% and the NASDAQ Composite was up 0.5%.

With just one day left in the quarter, the S&P and... More

I was wrong to say sell - Michael Burry

March 30, 2023 9:49 AM EDT

I was wrong to say sell - Michael Burry

I was wrong to say sell.

Cassandra B.C. (@michaeljburry) March 30, 2023

... More

US labor market remains tight; corporate profits decline

March 30, 2023 8:48 AM EDT

By Lucia Mutikani

WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits rose moderately last week, showing no signs yet that tightening credit conditions were having a material impact on the tight labor market.

But the risks to the economy are mounting. Other data on Thursday showed corporate profits in the fourth quarter declining by the most in five years, in part because of penalties and fines imposed on several businesses. That included a $1.7 billion civil penalty against Wells Fargo for what the government said was to "settle allegations that it illegally assessed... More

'Own high-margin growth stocks,' says Goldman Sachs

March 30, 2023 8:35 AM EDT

Goldman Sachs analyst Ryan Hammond recommends investors own high-margin growth stocks and avoid low-margin growth stocks.

The analyst explained in a note to clients on Thursday that the decline in bond yields has supported growth stocks so far in 2023, but with wide variation.

As a result, he made... More

Wall St gains with tech shares; regional banks fall

March 30, 2023 5:55 AM EDT

By Caroline Valetkevitch

NEW YORK (Reuters) - U.S. stocks rose on Thursday as technology-related shares extended their recent strong run, while regional U.S. bank shares fell as the Biden administration proposed stronger measures to help reduce risk.

The S&P 500 technology index was up 1.1% and gave the S&P 500 its biggest boost, while the Philadelphia semiconductor index hit its highest level in nearly a year. Wednesday's strong gains grew on optimism that a downturn in chip sales has ended.

U.S. regional bank shares fell as the Biden administration called for stricter rules that would... More

We recommend investors own high-margin growth stocks and avoid low-margin growth stocks - GS

March 30, 2023 5:51 AM EDT

Goldman Sachs strategist Ryan Hammond on what to own in the current environment: "The decline in bond yields has supported growth stocks YTD but with wide variation. Looking ahead, we recommend investors own high-margin growth stocks and avoid low-margin growth stocks, given the current resilient economic growth pricing with... More