UAW strike has now cost $2 billion, could ‘bring GM to its knees,’ Bank of America says

“A prolonged strike could burn significant cash and bring GM to its knees, but investors likely will also react negatively if management is perceived to have caved into labor’s demands and GM’s long-term competitiveness is threatened,” Bank of America analyst John Murphy said in a note to investors on Tuesday. The strike by General Motors workers has cost about $2 billion through the first four weeks, Bank of America estimates, saying that the beginning of week five means “everyone hurts.” The s


“A prolonged strike could burn significant cash and bring GM to its knees, but investors likely will also react negatively if management is perceived to have caved into labor’s demands and GM’s long-term competitiveness is threatened,” Bank of America analyst John Murphy said in a note to investors on Tuesday. The strike by General Motors workers has cost about $2 billion through the first four weeks, Bank of America estimates, saying that the beginning of week five means “everyone hurts.” The s
UAW strike has now cost $2 billion, could ‘bring GM to its knees,’ Bank of America says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: michael sheetz
Keywords: news, cnbc, companies, strike, cost, bring, uaw, bank, michael, investors, billion, america, union, knees, workers, lost


UAW strike has now cost $2 billion, could 'bring GM to its knees,' Bank of America says

“A prolonged strike could burn significant cash and bring GM to its knees, but investors likely will also react negatively if management is perceived to have caved into labor’s demands and GM’s long-term competitiveness is threatened,” Bank of America analyst John Murphy said in a note to investors on Tuesday.

The strike by General Motors workers has cost about $2 billion through the first four weeks, Bank of America estimates, saying that the beginning of week five means “everyone hurts.”

The strike by the United Automobile Workers union is costing GM about $100 million in lost earnings before interest and taxes per day, Bank of America estimated. The firm also noted that the total lost profit has cost each GM worker as much as $4,000 in net take-home pay.

Negotiations are continuing. The union summoned local leaders to Detroit to meet Thursday for an update on the negotiations. The union has traditionally done this when a tentative agreement has been reached or, as was the case a month ago, to discuss and vote on other actions such as a strike.

— CNBC’s Michael Bloom and Michael Wayland contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: michael sheetz
Keywords: news, cnbc, companies, strike, cost, bring, uaw, bank, michael, investors, billion, america, union, knees, workers, lost


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Bank of America upgrades Nike after missing the stock’s rally

Ex-FDA chief Scott Gottlieb ‘skeptical’ vaping nicotine causes… However, he says, that doesn’t mean it won’t cause harm. “You can’t inhale something into the lungs on a repeated basis and not cause some damage to the lung.” Health and Scienceread more


Ex-FDA chief Scott Gottlieb ‘skeptical’ vaping nicotine causes… However, he says, that doesn’t mean it won’t cause harm. “You can’t inhale something into the lungs on a repeated basis and not cause some damage to the lung.” Health and Scienceread more
Bank of America upgrades Nike after missing the stock’s rally Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, upgrades, nicotine, skeptical, stocks, repeated, rally, cause, mean, nike, bank, lungs, scienceread, america, wont, scott, vaping, missing


Bank of America upgrades Nike after missing the stock's rally

Ex-FDA chief Scott Gottlieb ‘skeptical’ vaping nicotine causes…

However, he says, that doesn’t mean it won’t cause harm. “You can’t inhale something into the lungs on a repeated basis and not cause some damage to the lung.”

Health and Science

read more


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, upgrades, nicotine, skeptical, stocks, repeated, rally, cause, mean, nike, bank, lungs, scienceread, america, wont, scott, vaping, missing


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Bank of America upgrades Nike after missing the stock’s rally

CBO says Pelosi’s drug pricing plan saves Medicare $345 billion… The savings wouldn’t begin until 2023, assuming the bill gets passed by the House and Senate and signed by President Donald Trump before end of this year, the CBO says. Health and Scienceread more


CBO says Pelosi’s drug pricing plan saves Medicare $345 billion… The savings wouldn’t begin until 2023, assuming the bill gets passed by the House and Senate and signed by President Donald Trump before end of this year, the CBO says. Health and Scienceread more
Bank of America upgrades Nike after missing the stock’s rally Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, upgrades, senate, cbo, sayshealth, wouldnt, saves, signed, stocks, savings, trump, rally, nike, bank, pricing, scienceread, america, missing


Bank of America upgrades Nike after missing the stock's rally

CBO says Pelosi’s drug pricing plan saves Medicare $345 billion…

The savings wouldn’t begin until 2023, assuming the bill gets passed by the House and Senate and signed by President Donald Trump before end of this year, the CBO says.

Health and Science

read more


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, upgrades, senate, cbo, sayshealth, wouldnt, saves, signed, stocks, savings, trump, rally, nike, bank, pricing, scienceread, america, missing


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94% of the time when this happens, stocks are a winning bet over bonds

A rare phenomenon with a great track record is taking place in the market and it shows that U.S. stocks offer much more value than bonds. According to Bank of America, stocks have significantly outperformed bonds 94% of the time 12 months out after this has happened. And it’s not even close, with stocks topping bonds by 23 percentage points over that time period, Bank of America notes. “Stocks are a ‘no brainer’ vs. bonds,” Bank of America analyst Savita Subramanian wrote to investors on Monday


A rare phenomenon with a great track record is taking place in the market and it shows that U.S. stocks offer much more value than bonds. According to Bank of America, stocks have significantly outperformed bonds 94% of the time 12 months out after this has happened. And it’s not even close, with stocks topping bonds by 23 percentage points over that time period, Bank of America notes. “Stocks are a ‘no brainer’ vs. bonds,” Bank of America analyst Savita Subramanian wrote to investors on Monday
94% of the time when this happens, stocks are a winning bet over bonds Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: michael sheetz
Keywords: news, cnbc, companies, happens, bet, yield, 500, subramanian, america, offer, winning, bonds, investors, bank, stocks


94% of the time when this happens, stocks are a winning bet over bonds

A rare phenomenon with a great track record is taking place in the market and it shows that U.S. stocks offer much more value than bonds.

In August, the dividend yield for the S&P 500 index, at 1.89%, surpassed the yield of a 10-year Treasury, at 1.5%, for the first time since 2016. According to Bank of America, stocks have significantly outperformed bonds 94% of the time 12 months out after this has happened.

And it’s not even close, with stocks topping bonds by 23 percentage points over that time period, Bank of America notes.

“Stocks are a ‘no brainer’ vs. bonds,” Bank of America analyst Savita Subramanian wrote to investors on Monday about the phenomenon.

The dividend yield on the S&P 500 on Monday stood at 1.8%, still above the 1.73% yield on the 10-year. Investors get a higher return with stocks than bonds from dividends alone, not to mention the potential for upside from the price. Historically this has been a great time to own stocks.

Typical wisdom has investors make use of a “60/40” portfolio, which allocates 60% of investment to stocks and 40% to bonds. Subramanian said investors should rethink this strategy at times like these when stocks offer so much more value.

Still investors may be afraid to buy stocks with trade war headlines holding back the S&P 500, which has been in a bull market for the last 10 years. The S&P 500 is trading just 2% higher over the last six months.

“Stocks still look cheap on growth and cash flow” as well, Subramanian added.

– CNBC’s Michael Bloom contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-10-14  Authors: michael sheetz
Keywords: news, cnbc, companies, happens, bet, yield, 500, subramanian, america, offer, winning, bonds, investors, bank, stocks


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How a massive Amazon wind farm will change a rural town in America

In April, Amazon announced three new wind farm projects — two overseas, and one in the Tehachapi (teh-HATCH-ah-pee) Mountains, located in southern California. Farther north is the Altamont Pass wind farm, which helps power another tech giant: Alphabet’s Google. “The good news for us is obviously we have the economic impact,” said Tehachapi economic development coordinator Corey Costelloe. Keeping jobs localAccording to estimates from the National Renewable Energy Laboratory, the construction of


In April, Amazon announced three new wind farm projects — two overseas, and one in the Tehachapi (teh-HATCH-ah-pee) Mountains, located in southern California. Farther north is the Altamont Pass wind farm, which helps power another tech giant: Alphabet’s Google. “The good news for us is obviously we have the economic impact,” said Tehachapi economic development coordinator Corey Costelloe. Keeping jobs localAccording to estimates from the National Renewable Energy Laboratory, the construction of
How a massive Amazon wind farm will change a rural town in America Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-12  Authors: jacob douglas
Keywords: news, cnbc, companies, amazon, change, energy, turbines, massive, rural, america, economic, tehachapi, cummings, renewable, wind, company, solar, town, farm


How a massive Amazon wind farm will change a rural town in America

The Tehachapi Mountain Range is home to around 4,731 wind turbines that generate about 3,200 megawatts of energy. City of Tehachapi

Buried in the mountains of southern California lies a field of white. It’s not your typical farm: It produces renewable energy. The Tehachapi Pass is home to one of the largest wind farms in the world. Now a huge tech company is bringing more turbines to the area, and it is going to have an impact on a nearby community. In April, Amazon announced three new wind farm projects — two overseas, and one in the Tehachapi (teh-HATCH-ah-pee) Mountains, located in southern California. The farms will help contribute to Amazon’s goal of net-zero carbon emissions by 2040 and 100% renewables by 2030. The mountain range is a hub for the wind industry, with around 4,731 turbines that produce about 3,200 megawatts of electricity along the mountain range, according to the Center for Land Use Interpretation, with private companies flocking to the area because of the high wind speeds. Farther north is the Altamont Pass wind farm, which helps power another tech giant: Alphabet’s Google. Located just northeast of the mountain range is the town of Tehachapi. With a population of about 12,000, Tehachapi Mayor Pro-Tem Phil Smith called it a nice little mountain town, and while the power being produced from wind only comes to the town indirectly through the grid, Tehachapi gets something else directly as a result of the big renewable energy investments. “The good news for us is obviously we have the economic impact,” said Tehachapi economic development coordinator Corey Costelloe. Outside contractors come in to work on the wind turbines, staying in the town’s hotels and eating at its restaurants, like Kohnen’s Country Bakery, one of the town’s more popular local eateries. Family owned by Colleen and Thomas Kohnen, the bakery has been around since 2004. Colleen says the bakery is growing, but it’s hard to tell how much of that is because of the wind industry. Though she says that she does get customers who come from out of the city to work on the windmills. “I had one guy come in last week, and I guess he was staying in a hotel during the week or something,” Khonen said. “And his wife and daughter came up to visit him. That just introduces people (to the bakery).” Stephen Abbott, city renewables accelerator manager at Rocky Mountain Institute, says that small businesses seeing an increase in revenue is part of the initial economic boom that follows a renewable energy farm.

Keeping jobs local

According to estimates from the National Renewable Energy Laboratory, the construction of a 47 megawatt (the size of Amazon’s new farm) renewable energy farm could produce around 50 new jobs. One company wants to keep those jobs in Tehachapi. World Wind and Solar is a renewable energy maintenance company that moved its headquarters to Tehachapi in 2019. WWS CEO Buddy Cummings has deep ties to Tehachapi. His father, Steve Cummings, installed some of the first wind turbines in the town. Cummings feels moving the company to Tehachapi is a homecoming of sorts. “The relationships that got us into the renewables market are the relationships we grew up with,” Cummings said. “Tehachapi just feels like home.” WWS has a goal of keeping their work local. Cummings says that he tries to hire Tehachapi residents, and use word of mouth marketing. “We grow by people telling their friends and family,” Cummings said. The company, which started in wind but has diversified into solar, requires workers to do general labor maintaining solar panels — cleaning and upkeep. The company hires workers to do that work for 60 to 90 days, and if they perform well, the company brings them back to Tehachapi for two to three weeks of training, teaching them how to do more technical maintenance on wind turbines and solar arrays. After the training they can become full-time technicians. “It’s a quick and healthy way to get people work,” Cummings said. “It has such an opportunity to grow a career so fast.” The workers coming in to train are spending their dollars at local businesses, like Kohnen’s Bakery, which cited the World Wind and Solar training period as a profitable time because the renewable energy company recommends it to trainees. “The wind farms have generated quite a number of very good technical, good-paying jobs that can sustain a family and the employers have benefits,” Mayor Pro-Tem Smith said. “So the people in the workforce can look forward to actually a career in the industry if they want, and the pay is good enough where they can afford a home and stay here.” Wind turbine technicians are making just over $54,000 a year ($26.14 per hour), according to The Bureau of Labor Statistics. It forecast employment growth of 57% for wind turbine technicians from 2018 to 2028. In 2018, there were 6,600 wind turbine technician jobs in the U.S., according to BLS data.

Tehachapi isn’t the only area that has seen an economic updraft from the wind industry. Benton County, Indiana (pop. 8,700) has multiple wind projects developed over the past decade, one operated by Pattern Energy which supports electricity needs for an Amazon Web Services data center. The AWS farm, its first major renewables project, went into operation in early 2016, and Paul Jackson, director of economic development for Benton County says the area has seen gradual growth after big, initial booms from its wind farm projects. “Everything kind of flattens out,” Jackson said. “The big boom is over, and you get into the reality of it.” The Amazon Wind Farm Fowler Ridge project is expected to make $5 million in economic development payments to Benton County over a period of 17 years. The project is entitled to 100% property tax abatements for a 10-year period, after which property tax revenue for the county will start being generated as well. “Once wind farms came off of abatement, we are getting tax dollars. The tax money is fantastic,” Jackson said. Between 2008 and 2018, taxes on Benton County wind farms have permitted the county to allocate an additional $3 million to schools, additional money to medical services, $35 million to new roads — upgraded roads were required to transport giant wind turbines to sites — and a total of $31 million in economic development payments to be made to the county through 2038. A September article from the Wall Street Journal highlighted that farmers in the U.S. are leasing land out for renewable energy farms to help themselves in a difficult financial time. “I think one thing we shouldn’t lose sight of is that a lot of farmers in the middle of the country are relatively strapped economically,” Abbott said. “Wind or solar can be a really useful additional revenue stream for people and those communities, particularly if it helps them get through a particular commodity down cycle.”

Facebook’s solar power projects


Company: cnbc, Activity: cnbc, Date: 2019-10-12  Authors: jacob douglas
Keywords: news, cnbc, companies, amazon, change, energy, turbines, massive, rural, america, economic, tehachapi, cummings, renewable, wind, company, solar, town, farm


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Uber buys grocery delivery company serving Latin America

Uber is buying a majority ownership stake of Cornershop, an online grocery delivery business serving Latin America in the latest step to diversify its revenue stream. The deal is expected to close in early 2020, according to a press release, with the current leadership at Cornershop continuing to lead the business and reporting to a board with majority Uber representation. The deal could help strengthen Uber’s revenue in Latin America, which saw a 24% dip between the second quarter of 2018 and 2


Uber is buying a majority ownership stake of Cornershop, an online grocery delivery business serving Latin America in the latest step to diversify its revenue stream. The deal is expected to close in early 2020, according to a press release, with the current leadership at Cornershop continuing to lead the business and reporting to a board with majority Uber representation. The deal could help strengthen Uber’s revenue in Latin America, which saw a 24% dip between the second quarter of 2018 and 2
Uber buys grocery delivery company serving Latin America Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: lauren feiner
Keywords: news, cnbc, companies, expected, business, grocery, majority, buys, cornershop, america, delivery, serving, deal, company, revenue, uber, latin, saw


Uber buys grocery delivery company serving Latin America

Uber is buying a majority ownership stake of Cornershop, an online grocery delivery business serving Latin America in the latest step to diversify its revenue stream.

The deal is expected to close in early 2020, according to a press release, with the current leadership at Cornershop continuing to lead the business and reporting to a board with majority Uber representation. Cornershop currently operates in Chile, Mexico, Peru and Toronto, according to the release.

The deal could help strengthen Uber’s revenue in Latin America, which saw a 24% dip between the second quarter of 2018 and 2019 while revenue from its other regional segments increased. Uber has differentiated itself from rival Lyft with its sprawling business, which includes meal delivery and freight services in addition to ridesharing.

Uber still faces questions from investors and analysts about its ability to turn a profit. In its last quarterly earnings report, Uber saw greater losses and lower revenue than expected. Its stock has slid more than 34% over the last three months, bringing its market cap to $49 billion, a steep decline from its last private valuation of $76 billion ahead of its May IPO.

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WATCH: Watch CNBC’s full interview with Uber CEO Dara Khosrowshahi


Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: lauren feiner
Keywords: news, cnbc, companies, expected, business, grocery, majority, buys, cornershop, america, delivery, serving, deal, company, revenue, uber, latin, saw


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Bank of America CEO: Warren Buffett tried to call me on a public call center line to talk investment—and couldn’t get through

Warren Buffett, chairman of Berkshire Hathaway, is regarded as one of the greatest investors alive. And one of those decisions was to invest $5 billion into Bank of America in 2011 after the financial crisis. But according to Bank of America CEO Brian Moynihan, that very important deal hit an remarkably relatable snag early on. Luckily, the CFO of Berkshire Hathaway reached out to one of Bank of America’s investment bankers, ultimately opening the door for Moynihan to talk to Buffett. “He litera


Warren Buffett, chairman of Berkshire Hathaway, is regarded as one of the greatest investors alive. And one of those decisions was to invest $5 billion into Bank of America in 2011 after the financial crisis. But according to Bank of America CEO Brian Moynihan, that very important deal hit an remarkably relatable snag early on. Luckily, the CFO of Berkshire Hathaway reached out to one of Bank of America’s investment bankers, ultimately opening the door for Moynihan to talk to Buffett. “He litera
Bank of America CEO: Warren Buffett tried to call me on a public call center line to talk investment—and couldn’t get through Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: taylor locke
Keywords: news, cnbc, companies, warren, deal, couldnt, 2011, tried, berkshire, ceo, investment, investmentand, billion, center, talk, buffett, line, moynihan, america, public, told, bank


Bank of America CEO: Warren Buffett tried to call me on a public call center line to talk investment—and couldn't get through

Warren Buffett, chairman of Berkshire Hathaway, is regarded as one of the greatest investors alive. Buffett has arguably made some of the most notable investment decisions of our lifetime.

And one of those decisions was to invest $5 billion into Bank of America in 2011 after the financial crisis.

But according to Bank of America CEO Brian Moynihan, that very important deal hit an remarkably relatable snag early on.

When Buffett reached out to discuss his investment idea with Moynihan in 2011, the Oracle of Omaha simply called a public call center line for the bank and asked for Moynihan — and perhaps unsurprisingly, he did not get through.

“[Buffett] got into the call centers and asked to speak to me,” Moynihan told Bloomberg Television in an excerpt from an interview published on Wednesday, “and of course they don’t transfer everybody who calls the call centers to the CEO’s line.”

Luckily, the CFO of Berkshire Hathaway reached out to one of Bank of America’s investment bankers, ultimately opening the door for Moynihan to talk to Buffett.

“He literally called me — talked to him for the first time in my life,” Moynihan told Bloomberg Television, and the deal came together within a few days. “He does that.”

In 2017, Berkshire made $12 billion from the investment.

“The interesting thing is, if you’re a common shareholder and bought that day [in 2011], you would have fared as well as [Buffett] did,” Moynihan said. “You just had to have the courage, and he had $5 billion at a time where other people didn’t have.”

Berkshire now has an over 10% stake in the bank, owning 950 million shares.

But the missed call wasn’t the only uniquely down-to-earth thing about the Bank of America deal: Buffet told CNBC in 2011 that he came up with the idea for the investment while taking a bath, just a week before he made the phone call.

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Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: taylor locke
Keywords: news, cnbc, companies, warren, deal, couldnt, 2011, tried, berkshire, ceo, investment, investmentand, billion, center, talk, buffett, line, moynihan, america, public, told, bank


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Bank of America favors Amazon among its FANG peers heading into earnings season

Former Nasdaq boss says we’ll remember WeWork as when the…Greifeld said it will be similar the way the scuttled merger between Yahoo and eBay signaled the start of the dotcom crash in 2000. Marketsread more


Former Nasdaq boss says we’ll remember WeWork as when the…Greifeld said it will be similar the way the scuttled merger between Yahoo and eBay signaled the start of the dotcom crash in 2000. Marketsread more
Bank of America favors Amazon among its FANG peers heading into earnings season Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, bank, peers, wework, similar, earnings, scuttled, season, favors, signaled, nasdaq, america, remember, fang, amazon, thegreifeld, start, merger, way, heading


Bank of America favors Amazon among its FANG peers heading into earnings season

Former Nasdaq boss says we’ll remember WeWork as when the…

Greifeld said it will be similar the way the scuttled merger between Yahoo and eBay signaled the start of the dotcom crash in 2000.

Markets

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Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, bank, peers, wework, similar, earnings, scuttled, season, favors, signaled, nasdaq, america, remember, fang, amazon, thegreifeld, start, merger, way, heading


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Bank of America favors Amazon among its FANG peers heading into earnings season

Former Nasdaq boss says we’ll remember WeWork as when the…Greifeld said it will be similar the way the scuttled merger between Yahoo and eBay signaled the start of the dotcom crash in 2000. Marketsread more


Former Nasdaq boss says we’ll remember WeWork as when the…Greifeld said it will be similar the way the scuttled merger between Yahoo and eBay signaled the start of the dotcom crash in 2000. Marketsread more
Bank of America favors Amazon among its FANG peers heading into earnings season Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, bank, peers, wework, similar, earnings, scuttled, season, favors, signaled, nasdaq, america, remember, fang, amazon, thegreifeld, start, merger, way, heading


Bank of America favors Amazon among its FANG peers heading into earnings season

Former Nasdaq boss says we’ll remember WeWork as when the…

Greifeld said it will be similar the way the scuttled merger between Yahoo and eBay signaled the start of the dotcom crash in 2000.

Markets

read more


Company: cnbc, Activity: cnbc, Date: 2019-10-08  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, bank, peers, wework, similar, earnings, scuttled, season, favors, signaled, nasdaq, america, remember, fang, amazon, thegreifeld, start, merger, way, heading


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Stocks may not climb much higher this year. But you can still make these smart money moves

When it comes to the forecast for the markets and your investments, there’s good news and bad news. First, the bad news: The S&P 500 may not climb any higher in the last months of this year, according to Bank of America Merrill Lynch. That’s as the latest market rout has brought the index down to about 2,900, the year-end target the firm had previously predicted. “We don’t expect a recession, given the information we have today,” said Chris Hyzy, chief investment officer at Merrill and Bank of A


When it comes to the forecast for the markets and your investments, there’s good news and bad news. First, the bad news: The S&P 500 may not climb any higher in the last months of this year, according to Bank of America Merrill Lynch. That’s as the latest market rout has brought the index down to about 2,900, the year-end target the firm had previously predicted. “We don’t expect a recession, given the information we have today,” said Chris Hyzy, chief investment officer at Merrill and Bank of A
Stocks may not climb much higher this year. But you can still make these smart money moves Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-04  Authors: lorie konish
Keywords: news, cnbc, companies, according, markets, good, earnings, market, bank, bad, higher, stocks, smart, moves, climb, firm, merrill, money, america


Stocks may not climb much higher this year. But you can still make these smart money moves

When it comes to the forecast for the markets and your investments, there’s good news and bad news.

First, the bad news: The S&P 500 may not climb any higher in the last months of this year, according to Bank of America Merrill Lynch.

That’s as the latest market rout has brought the index down to about 2,900, the year-end target the firm had previously predicted.

How well the market has done this year depends on how you look at it. Since the lows of December, the market is up more than 16%, according to the firm. But from September 2018 to September 2019, earnings and performance are actually flat.

But there is also good news. “We don’t expect a recession, given the information we have today,” said Chris Hyzy, chief investment officer at Merrill and Bank of America Private Bank.

After breathing a sigh of relief that a downturn isn’t coming, investors would be wise to keep an eye on four other forces that could shape the economy and markets, according to Hyzy.

That includes any monetary policy adjustments from the Federal Reserve, trade negotiations between the U.S. and China, earnings growth and overall investor sentiment.


Company: cnbc, Activity: cnbc, Date: 2019-10-04  Authors: lorie konish
Keywords: news, cnbc, companies, according, markets, good, earnings, market, bank, bad, higher, stocks, smart, moves, climb, firm, merrill, money, america


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