BofA: Bank stocks should remain well bid into US elections
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Citi: Nasdaq favored while EU banks shunned
June 11, 2024 6:17 AM EDTAnalysts at Citi said in a note that amidst the market uncertainty, the Nasdaq is favored.
The investment bank explained in its equity markets positioning model note this week that investor positioning in US equities stabilized after a pick-up in long flows over the past week.
Meanwhile, Nasdaq's... More
UBS explains how to invest in tech stocks
June 10, 2024 5:00 PM EDTIn a note Monday, UBS analysts said they see big opportunities in tech, particularly in those leveraging artificial intelligence (AI).
Their note, "How should I invest in tech?" emphasizes AI as a key driver, stating, "We think the adoption of AI will unlock value across a number of sectors."
For investors, UBS highlights information technology stocks as their "most preferred"... More
BTIG: Industrials, builders, hotels vulnerable while med devices look timely
June 10, 2024 11:34 AM EDTIn a note to clients Monday, BTIG analysts warned of potential weakness in certain sectors while identifying relative bright spots.
Despite ongoing bullish sentiment, BTIG remains "tactically cautious" due to the S&P 500 trading "over 12% above its 200 DMA," a level it historically hasn't sustained for long... More
S&P 500, Nasdaq post record closing highs; Fed meeting, CPI ahead
June 10, 2024 6:16 AM EDTBy Caroline Valetkevitch
NEW YORK (Reuters) - The S&P 500 and Nasdaq eked out record closing highs on Monday, although investors were cautious ahead of this week's consumer prices report and a Federal Reserve policy announcement.
Providing some support to the Nasdaq and S&P 500, Nvidia shares ended up 0.7%, the session after a 10-for-one stock split. Some investors now believe the chip maker might be included in the blue-chip Dow.
The Consumer Price Index report for May is due Wednesday along with the conclusion of the Fed's two-day policy meeting.
The central bank, which will... More
Global S&P Futures mixed in premarket
June 10, 2024 3:22 AM EDTGlobal S&P Futures mixed in premarket, Nikkei mixed, DAX mixed, WTI Crude oil recently at $75.70, natural gas up 2%, gold at $2313
... MoreUBS shares 5 lessons from the market's 7-month rally
June 9, 2024 5:00 PM EDTIn a Wednesday note to clients, UBS analysts reflected on the stock markets performance over the past seven months, identifying key lessons that investors can learn from this period.
Specifically, the bank highlighted five key takeaways from their analysis.
1) 'Market's AdvanceStarted with Multiples, Followed by EPS: UBS notes that the market rally experienced two distinct phases. Initially, the advance was driven predominantly by multiples. In late 2023, 14.4% of the market's 15.8% advance was attributed to multiples.
However, year-to-date... More
These are the S&P 500 historical returns during election years
June 8, 2024 5:00 AM EDTAccording to Piper Sandler, election years can be a time for strong returns in the stock market, with the S&P 500 historically averaging a 10%-20% total return since 1928.
Interestingly, the third year of a president's term seems to be the sweet spot, with Piper Sandler noting a median return of 18.08% during that period over the past 95 years. Even the fourth year holds promise, averaging a 9.5% return with a... More
Consumer Credit $6.4B vs $10B Expected
June 7, 2024 3:00 PM EDTConsumer Credit $6.4B vs $10B Expected
... MoreWholesale Inventories (Apr F) 0.1% vs 0.2% Expected
June 7, 2024 10:00 AM EDTWholesale Inventories (Apr F) 0.1% vs 0.2% Expected
... MoreCiti Changes First Fed Rate-cut Forecast To September From July - Bloomberg
June 7, 2024 9:58 AM EDTCiti Changes First Fed Rate-cut Forecast To September From July - Bloomberg
... MoreFed seen waiting to cut rates as job growth picks up
June 7, 2024 9:24 AM EDTBy Ann Saphir
(Reuters) -A U.S. job market scorecard that exceeded all forecasts has undercut confidence over when, or even if, the Federal Reserve will begin easing policy this year, putting the focus for the policy outlook on next week's Fed meeting and Fed Chair Jerome Powell's own guidance.
The latest monthly Labor Department report did break the economy's 2-year string of below-4% unemployment, a run not seen since the 1960s.
But it hardly seemed to matter: Hiring across the economy was broad, and the 272,000 jobs added in May topped even the highest-guessing economist... More
"Eye-popping" May US payrolls jump may set back Fed ease
June 7, 2024 8:56 AM EDT(Reuters) -U.S. job growth accelerated far more than expected in May, keeping the Federal Reserve on track to hold off starting to cut interest rates.
The Labor Department said on Friday that the unemployment rate ticked up to 4.0% for the first time since January 2022, while nonfarm payrolls increased by 272,000 jobs last month, much more than the 185,000 forecast by economists polled by Reuters. Revisions showed 15,000 fewer jobs created in March and April combined than previously reported.
MARKET REACTION:
STOCKS: S&P 500 e-mini futures turned 0.29% lower, pointing to a soft open on Wall StreetBONDS: The U.S.... More
