Stocks reclaim record highs, but investor enthusiasm is lacking

Stocks have reclaimed their old highs and should continue to make new ones, but without some of the fanfare and excitement of some past rallies. The S&P 500 and Nasdaq both surpassed their September closing highs on Tuesday after a string of solid earnings news. Putting it in that context, I would say I’m not as worried about the market as a lot of people. Redler, who watches the short term technicals, said the S&P first pressed the 2,900 level as earnings season started. Redler said stocks have


Stocks have reclaimed their old highs and should continue to make new ones, but without some of the fanfare and excitement of some past rallies. The S&P 500 and Nasdaq both surpassed their September closing highs on Tuesday after a string of solid earnings news. Putting it in that context, I would say I’m not as worried about the market as a lot of people. Redler, who watches the short term technicals, said the S&P first pressed the 2,900 level as earnings season started. Redler said stocks have
Stocks reclaim record highs, but investor enthusiasm is lacking Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: patti domm
Keywords: news, cnbc, companies, fed, started, redler, highs, ones, worried, reclaim, sp, investor, stocks, lacking, earnings, enthusiasm, market, record, say


Stocks reclaim record highs, but investor enthusiasm is lacking

Stocks have reclaimed their old highs and should continue to make new ones, but without some of the fanfare and excitement of some past rallies.

The S&P 500 and Nasdaq both surpassed their September closing highs on Tuesday after a string of solid earnings news. The Dow is still about a percent away from its high, at 26,656.

“We’ve essentially just gone back to September. People look at this 17% year-to-date move and say it seems like an unsustainable trend. We have to keep in mind we’re now flat to where we were back in September,” said Jack Ablin, CIO of Cresset Wealth Advisors. “This is just taking back the correction. Putting it in that context, I would say I’m not as worried about the market as a lot of people. In the earnings reports, there were some blockbuster surprises.”

T3Live.com’s Scott Redler said investors continue to doubt the market, even as some indexes hit highs.

“The sentiment is typically not bullish,” he said. “Everyone is worried about… trade wars, while passive money comes in and the market marches higher.”

Redler, who watches the short term technicals, said the S&P first pressed the 2,900 level as earnings season started. The so-called FAANG stocks — Facebook, Amazon, Apple, Netflix and Google-parent Alphabet — rallied and that helped lead the market. Now those names and related tech favorites are the ones to watch when Facebook and Microsoft report earnings Wednesday, followed by Amazon on Thursday.

Beyond that, the market will also soon be tested by the Fed, which meets May 1. Redler said stocks have been moving higher since the Fed “pivot,” when officials started to signal that more interest rate hikes were unlikely. Some market pros believe the Fed will even cut interest rates before it ever raises them again.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: patti domm
Keywords: news, cnbc, companies, fed, started, redler, highs, ones, worried, reclaim, sp, investor, stocks, lacking, earnings, enthusiasm, market, record, say


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The stock market is back at new highs, but champagne corks aren’t popping on trading desks

The large beats on earnings from companies as diverse as Lockheed Martin, United Technologies, Pulte and Whirlpool are propelling the S&P 500 to a new high. This is all good news, but if you think Wall Street is celebrating, try calling around on a trading desk: you won’t hear any champagne corks popping. Consider:1) With the S&P 500 sitting an historic high, there are only 13 stocks in the S&P 500 at new highs. The market is being pushed up by a small group of super-performers–so traders belie


The large beats on earnings from companies as diverse as Lockheed Martin, United Technologies, Pulte and Whirlpool are propelling the S&P 500 to a new high. This is all good news, but if you think Wall Street is celebrating, try calling around on a trading desk: you won’t hear any champagne corks popping. Consider:1) With the S&P 500 sitting an historic high, there are only 13 stocks in the S&P 500 at new highs. The market is being pushed up by a small group of super-performers–so traders belie
The stock market is back at new highs, but champagne corks aren’t popping on trading desks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: bob pisani
Keywords: news, cnbc, companies, sitting, better, corks, high, volume, highs, desks, stock, market, wall, sp, arent, trading, serious, champagne, traders, popping, earnings, 500


The stock market is back at new highs, but champagne corks aren't popping on trading desks

The markets are at new highs, so why does it feel like August?

The large beats on earnings from companies as diverse as Lockheed Martin, United Technologies, Pulte and Whirlpool are propelling the S&P 500 to a new high. In addition to earnings well above expectations, we see China bottoming, Europe at least showing some signs of stability, and the Fed remains accomodative.

Doesn’t get much better than that. So what’s next?

We have earnings reports from Banks (fair) and Industrials (better than expected) and a smattering of consumer names like Kimberly Clark and Procter & Gamble (also better than expected). To keep the momentum going, we need to hear from Technology, Energy, and especially Health Care, which has suddenly become the problem child for the markets.

Good news after Tuesday’s close: Texas Instruments, one of the world’s largest semiconductor companies, reported earnings above expectations and provided guidance for the second quarter that was roughly inline with expectations.

This is all good news, but if you think Wall Street is celebrating, try calling around on a trading desk: you won’t hear any champagne corks popping.

“It’s not just today, it’s been dead for weeks,” one sell-side trader told me. “It’s the opposite of euphoria.”

This is an age-old Wall Street complaint: stock traders do not view a new high as really valid unless there is some serious action — some serious volume, some serious volatility, some kind of, well, serious hoopla.

And that is what is missing from the rally.

Consider:

1) With the S&P 500 sitting an historic high, there are only 13 stocks in the S&P 500 at new highs. The market is being pushed up by a small group of super-performers–so traders believe the rally needs to broaden out.

2) No one is scrambling to buy stocks: volume has been abysmal since the end of March.

3) No one is panicking either: the CBOE Volatility Index (VIX) is sitting near the lowest levels of the year. No one seems particularly worried that the market may drop suddenly.

The lack of euphoria or its opposite — the lack of worry — is one reason many traders are enthusiastic about the near-term future. It means many are still sitting on the sidelines, and they may now be dragged into the markets after seeing the new high headlines.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: bob pisani
Keywords: news, cnbc, companies, sitting, better, corks, high, volume, highs, desks, stock, market, wall, sp, arent, trading, serious, champagne, traders, popping, earnings, 500


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Oil near 2019 highs after US ends all Iran sanction exemptions

Oil prices were near 2019 highs on Tuesday after Washington announced all Iran sanction waivers would end by May, pressuring importers to stop buying from Tehran. Brent crude futures were at $74.40 per barrel at 0239 GMT, up 0.5 percent from their last close and not far off a 2019 peak of $74.52 reached on Monday. U.S. West Texas Intermediate (WTI) crude futures hit their highest level since October 2018 at $65.95 per barrel before edging back to $65.89 by 0239 GMT, which was still up 0.5 percen


Oil prices were near 2019 highs on Tuesday after Washington announced all Iran sanction waivers would end by May, pressuring importers to stop buying from Tehran. Brent crude futures were at $74.40 per barrel at 0239 GMT, up 0.5 percent from their last close and not far off a 2019 peak of $74.52 reached on Monday. U.S. West Texas Intermediate (WTI) crude futures hit their highest level since October 2018 at $65.95 per barrel before edging back to $65.89 by 0239 GMT, which was still up 0.5 percen
Oil near 2019 highs after US ends all Iran sanction exemptions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: essam al-sudani
Keywords: news, cnbc, companies, 2019, iranian, opec, highs, ends, sanctions, sanction, oil, united, near, going, futures, supply, crude, exemptions, iran


Oil near 2019 highs after US ends all Iran sanction exemptions

Oil prices were near 2019 highs on Tuesday after Washington announced all Iran sanction waivers would end by May, pressuring importers to stop buying from Tehran.

Brent crude futures were at $74.40 per barrel at 0239 GMT, up 0.5 percent from their last close and not far off a 2019 peak of $74.52 reached on Monday.

U.S. West Texas Intermediate (WTI) crude futures hit their highest level since October 2018 at $65.95 per barrel before edging back to $65.89 by 0239 GMT, which was still up 0.5 percent from their last settlement.

The United States on Monday demanded that buyers of Iranian oil stop purchases by May 1 or face sanctions, ending six months of waivers which allowed Iran’s eight biggest buyers, most of them in Asia, to continue importing limited volumes.

Before the reimposition of sanctions last year, Iran was the fourth-largest producer among the Organization of the Petroleum Exporting Countries (OPEC) at almost 3 million barrels per day (bpd), but April exports have shrunk well below 1 million bpd, according to ship tracking and analyst data in Refinitiv.

Barclay’s bank said in a note following the announcement that the decision took many market participants by surprise and that the move would “lead to a significant tightening of oil markets”.

The British bank added that Washington’s target to cut Iran oil exports to zero posed a “material upside risk to our current $70 per barrel average price forecast for Brent this year, compared with the year-to-date average of $65 per barrel”.

ANZ bank said in a note on Tuesday that “the decision is likely to worsen the ongoing supply woes being felt with Venezuelan sanctions, the OPEC supply cut, and intensifying conflict in Libya.”

The move to tighten Iran sanctions comes amid other sanctions Washington has placed on Venezuela’s oil exports and also as producer club OPEC has led supply cuts since the start of the year aimed at tightening global oil markets and propping up crude prices.

Ellen Wald, non-resident senior fellow at the Global Energy Center of the Atlantic Council, said the United States “seem to expect” Saudi Arabia and the United Arab Emirates to replace the Iranian oil, but she added “that this is not necessarily the way Saudi Arabia sees it.”

Saudi Arabia is the world’s biggest exporter of crude oil and OPEC’s de-facto leader. The group is set to meet in June to discuss its output policy.

“Should OPEC decide to end their supply cut program going into the second half of the year, this could limit oil’s upside in the coming months,” said Lukman Otunuga, analyst at futures brokerage FXTM.

Meanwhile, the Atlantic Council said the U.S. move would hurt Iranian citizens.

“We’re going to see their currency collapse more, more unemployment, more inflation,” said Barbara Slavin, director for the Future of Iran Initiative at the Atlantic Council, adding that the U.S. sanctions were “not going to bring Iran back to the (nuclear) negotiating table.”


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: essam al-sudani
Keywords: news, cnbc, companies, 2019, iranian, opec, highs, ends, sanctions, sanction, oil, united, near, going, futures, supply, crude, exemptions, iran


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Markets are at new highs, but the euphoria is missing

The markets are at new highs, but it doesn’t feel that way. This is all good news, but if you think Wall Street is celebrating, try calling around on a trading desk: You won’t hear any champagne corks popping. Consider:The S&P may be sitting at an historic high, but there are only 13 stocks in the index at new highs. The lack of euphoria or its opposite — the lack of worry — is one reason many traders are enthusiastic about the near-term. It means many are still sitting on the sidelines and they


The markets are at new highs, but it doesn’t feel that way. This is all good news, but if you think Wall Street is celebrating, try calling around on a trading desk: You won’t hear any champagne corks popping. Consider:The S&P may be sitting at an historic high, but there are only 13 stocks in the index at new highs. The lack of euphoria or its opposite — the lack of worry — is one reason many traders are enthusiastic about the near-term. It means many are still sitting on the sidelines and they
Markets are at new highs, but the euphoria is missing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: bob pisani, drew angerer, getty images
Keywords: news, cnbc, companies, better, sitting, serious, volatility, euphoria, wall, markets, high, missing, highs, traders, earnings, volume, street


Markets are at new highs, but the euphoria is missing

The markets are at new highs, but it doesn’t feel that way.

Large earnings beats from companies as diverse at Lockheed Martin, United Technologies, PulteGroup and Whirlpool are propelling the S&P 500 to a new high. In addition to earnings well above expectations, we see China bottoming, Europe showing at least some signs of stability and an accommodating Fed.

Doesn’t get much better than that! So what’s next?

We have earnings reports from banks (fair) and industrials (better than expected) and a smattering of consumer names like Kimberly Clark and Procter & Gamble (also better than expected). To keep the momentum going, we need to hear from technology, energy and especially health care, which has suddenly become the problem child for the markets.

Good news after the close: Texas Instruments, one of the world’s largest semiconductor companies, reported earnings above expectations and provided second-quarter guidance that was roughly in-line with expectations.

This is all good news, but if you think Wall Street is celebrating, try calling around on a trading desk: You won’t hear any champagne corks popping.

“It’s not just today, it’s been dead for weeks,” one sell-side trader told me. “It’s the opposite of euphoria.”

This is an age-old Wall Street complaint: Stock traders do not view a new high as truly valid unless there is some serious action — some serious volume, some serious volatility, some kind of, well, serious hoopla.

And that is what is missing from the rally.

Consider:

The S&P may be sitting at an historic high, but there are only 13 stocks in the index at new highs. The market is being pushed up by a small group of super-performers. So, traders believe the rally needs to broaden out. No one is scrambling to buy stocks. Volume has been abysmal since the end of March. No one is panicking either: The CBOE Volatility Index is sitting near the lowest levels of the year. No one seems particularly worried that the market may drop suddenly.

The lack of euphoria or its opposite — the lack of worry — is one reason many traders are enthusiastic about the near-term. It means many are still sitting on the sidelines and they may now be dragged into the markets after seeing the new high headlines.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: bob pisani, drew angerer, getty images
Keywords: news, cnbc, companies, better, sitting, serious, volatility, euphoria, wall, markets, high, missing, highs, traders, earnings, volume, street


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Cramer: Investors betting against Hasbro and Twitter bolstered markets to record highs

Rallies in Hasbro, Qualcomm, Twitter, and Kohl’s on Tuesday showed how investors who bet against a stock can cause a short squeeze and bolster stocks even higher, CNBC’s Jim Cramer said. “Short-sellers provided the ammo for today’s biggest winners: Hasbro, Qualcomm, Twitter, Kohl’s,” the “Mad Money” host said. And the shorts, Cramer said, helped the S&P 500 and Nasdaq Composite close at record highs following a collection of strong quarterly reports. Twitter was able to blow away the numbers and


Rallies in Hasbro, Qualcomm, Twitter, and Kohl’s on Tuesday showed how investors who bet against a stock can cause a short squeeze and bolster stocks even higher, CNBC’s Jim Cramer said. “Short-sellers provided the ammo for today’s biggest winners: Hasbro, Qualcomm, Twitter, Kohl’s,” the “Mad Money” host said. And the shorts, Cramer said, helped the S&P 500 and Nasdaq Composite close at record highs following a collection of strong quarterly reports. Twitter was able to blow away the numbers and
Cramer: Investors betting against Hasbro and Twitter bolstered markets to record highs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: tyler clifford
Keywords: news, cnbc, companies, twitter, record, company, share, kohls, stocks, bolstered, qualcomm, investors, markets, stock, betting, cramer, highs, hasbro, shorts, apple


Cramer: Investors betting against Hasbro and Twitter bolstered markets to record highs

Rallies in Hasbro, Qualcomm, Twitter, and Kohl’s on Tuesday showed how investors who bet against a stock can cause a short squeeze and bolster stocks even higher, CNBC’s Jim Cramer said.

Each stock saw double-digit percentage gains during the session, with the exception of Qualcomm, although the company touched a 52-week high in the session.

“Short-sellers provided the ammo for today’s biggest winners: Hasbro, Qualcomm, Twitter, Kohl’s,” the “Mad Money” host said. “Their pain is your gain.”

Short-sellers, whose strategy is to borrow a company’s shares and turn a profit if its price falls, tend to push a stock even higher if their prediction backfires, as they rush to sell and mitigate their losses.

And the shorts, Cramer said, helped the S&P 500 and Nasdaq Composite close at record highs following a collection of strong quarterly reports. The Dow Jones Industrial Average added 155 points.

“Days like today remind us that short-sellers can serve as rocket fuel for a bull market,” Cramer said. “In other words, when the shorts finally throw in the towel and give up on the stocks they love to hate, these stocks tend to explode higher.”

Hasbro, the company behind iconic products such as Monopoly, G.I. Joe, and Furby, gained more than 14% Tuesday after shocking analysts with its earnings announcement. The toymaker delivered a quarterly profit of 21 cents per share, in stark contrast to the 11 cents per share loss that was expected.

While the closure of Toys R Us was a “disruption” to Hasbro’s operations and left it with extra inventory, CEO Brian Goldner told Cramer in a February interview that the company had worked out those challenges. Furthermore, Ollie’s Bargain Outlet CEO Mark Butler, Cramer pointed out, said in a separate interview that business had never been better in part because it picked up toy market share by taking Toys R Us inventory.

“That was your all-clear for Hasbro. It’s when the stock went from being an annuity short to a terrific long, like it used to be,” Cramer said. “And I bet Hasbro’s got a lot more room to run. Remember, they have licensing deals with Disney, meaning they’re gonna make a killing from the new “Avengers” movie … and the new “Star Wars” out later this year.”

Qualcomm caught a spark after settling a royalty dispute with Apple and ending ongoing legal battles between the companies. The deal included an agreement which likely means that Apple will buy chips from Qualcomm for future iPhones.

Qualcomm traded as high as $87.96 Tuesday before finishing at $86.72.

“The smart money was betting that Apple would win because so many companies have challenged Qualcomm for monopolistic pricing over the years,” Cramer said. “Qualcomm’s a fabulous company and without the Apple case weighing on its stock, it deserves to go still higher — especially since Apple’s going to keep buying their chips for the iPhone.”

Cramer said Twitter has been a tough stock to own, but it made one of the biggest moves Tuesday after the company reported earnings of 37 cents per share, more than double what analysts expected. The social media platform improved its advertising and sports programs in the quarter, the host said.

Twitter was able to blow away the numbers and could get more upgrades along the way, Cramer said.

Kohl’s has been facing the same troubles that has plagued other retailers, but the shorts didn’t expect the department chain to expand its return program with Amazon to all of its 1,100 locations. On top of that, Amazon took a 1% stake in the company, Cramer added.

“It’s a homerun, people. Talk about if you can’t beat ’em, join ’em. That’s why Kohl’s vaulted nearly 12% today. The shorts were crushed. It’s not done,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: tyler clifford
Keywords: news, cnbc, companies, twitter, record, company, share, kohls, stocks, bolstered, qualcomm, investors, markets, stock, betting, cramer, highs, hasbro, shorts, apple


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Staples stocks are at 52-week highs, but there’s still time to buy, experts say

Consumer staples are moving upwards, here are the ETFs to watch 5 Hours Ago | 02:36Investors are doubling down on the market’s staples. The Consumer Staples Select Sector SPDR Fund, widely known by its ticker, XLP, hit a new 52-week high on Monday, a more than 18% climb from its lows in December. Even so, Nadig still sees opportunities, particularly in U.S.-based consumer staples ETFs. But if you ask ETF expert Reggie Brown, who is senior managing director of Cantor Fitzgerald’s ETF group, inves


Consumer staples are moving upwards, here are the ETFs to watch 5 Hours Ago | 02:36Investors are doubling down on the market’s staples. The Consumer Staples Select Sector SPDR Fund, widely known by its ticker, XLP, hit a new 52-week high on Monday, a more than 18% climb from its lows in December. Even so, Nadig still sees opportunities, particularly in U.S.-based consumer staples ETFs. But if you ask ETF expert Reggie Brown, who is senior managing director of Cantor Fitzgerald’s ETF group, inves
Staples stocks are at 52-week highs, but there’s still time to buy, experts say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: lizzy gurdus
Keywords: news, cnbc, companies, experts, stocks, little, investors, staples, think, theres, group, xlp, highs, etf, consumer, 52week, nadig, high, buy, say


Staples stocks are at 52-week highs, but there's still time to buy, experts say

Consumer staples are moving upwards, here are the ETFs to watch 5 Hours Ago | 02:36

Investors are doubling down on the market’s staples.

The Consumer Staples Select Sector SPDR Fund, widely known by its ticker, XLP, hit a new 52-week high on Monday, a more than 18% climb from its lows in December. The move was fueled by stronger-than-expected quarterly earnings from Kleenex parent Kimberly-Clark, which could set the rest of the group up for a good week of reporting.

Still, Dave Nadig, managing director of ETF.com, is encouraging investors to be careful with this group, which many see as a safe haven in the stock market.

“I think ‘new highs’ is a relative term,” he said Monday on CNBC’s “ETF Edge.” “We’re only up 12, 13% in this space. This is far from the high-flying segment.”

And with industry giants Procter & Gamble and Coca-Cola — which account for more than 25% of the XLP — reporting later this week, that’s “a lot of concentration” to discount at the moment, Nadig said.

Even so, Nadig still sees opportunities, particularly in U.S.-based consumer staples ETFs.

“I’m still a believer that we’re in a global slowdown environment, [so] I’d rather stick to the U.S.,” he said. “I think it’s a little more understandable, a little more controllable. I would go with equal-weight here because I think that that concentration … could help you. If P&G really blows the doors off, you’ll want that exposure. But I think, long term … the smaller names are doing as well as the bigger names. Why not give yourself a little bit of short-term diversification?”

Alternative plays with exposure to the automotive space could also serve investors well, Nadig said.

But if you ask ETF expert Reggie Brown, who is senior managing director of Cantor Fitzgerald’s ETF group, investors’ moves this earnings season will ultimately boil down to two factors.

“Investors love earnings and outcomes,” he said in the same “ETF Edge” interview. “So I think you’re seeing a drive into the sector based on performance of the underlying companies and, as you know, ETFs represent performance of underlying stocks. So you’re seeing investors want to have exposure.”

The XLP flattened after reaching its 52-week high in Monday’s trading session, hovering in the $56 range. The Invesco S&P 500 Equal Weight Consumer Staples ETF, its equally weighted counterpart, also hit a 52-week high.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: lizzy gurdus
Keywords: news, cnbc, companies, experts, stocks, little, investors, staples, think, theres, group, xlp, highs, etf, consumer, 52week, nadig, high, buy, say


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After jobs report, the bull narrative is winning the argument and could take market to new highs

The bull narrative is winning the argument, for now. The S&P 500 is about 1.5% from an historic high, and recent data may help make a run at that record. This will reinforce the bull narrative that has come to dominate trading in the past month. You can see the dominance of the bull narrative in the trading action. Bond yields have risen in the last week as traders have become more confident in the bull narrative.


The bull narrative is winning the argument, for now. The S&P 500 is about 1.5% from an historic high, and recent data may help make a run at that record. This will reinforce the bull narrative that has come to dominate trading in the past month. You can see the dominance of the bull narrative in the trading action. Bond yields have risen in the last week as traders have become more confident in the bull narrative.
After jobs report, the bull narrative is winning the argument and could take market to new highs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: bob pisani, spencer platt, getty images news, getty images
Keywords: news, cnbc, companies, argument, data, report, traders, trade, week, recent, market, winning, bull, highs, china, recession, narrative, trading, jobs


After jobs report, the bull narrative is winning the argument and could take market to new highs

New highs for stocks? The bull narrative is winning the argument, for now.

The S&P 500 is about 1.5% from an historic high, and recent data may help make a run at that record.

Friday’s nonfarm payroll report, with 196,000 new jobs in March, was above expectations and will go a long way toward quelling fears that U.S. jobs growth is slowing significantly after February’s 20,000 print (which has now been revised to up 33,000).

This will reinforce the bull narrative that has come to dominate trading in the past month. The bull narrative is: China and Europe economic weakness is bottoming, there will be a trade deal with little or very low tariffs, earnings growth in the U.S. for 2019 will be in the low-single digits, inflation will be moderate (around 2%), and — most importantly — the chances of a recession in 2020 is very low.

The bear narrative, that China and European economic data has been mixed and does not support claims of a bottom, and that the likelihood of a recession in 2020 is very high, has been losing ground.

You can see the dominance of the bull narrative in the trading action. Globally, China is again the big outperformer up 5% this week as the Shanghai Exchange hits a 52-week high:

Global markets this week:

Shanghai up 5.1%

STOXX 600 up 2.3%

Japan up 2.9%

S&P 500 up 1.6%

Once again, gainers for the week in the U.S. are all cyclicals like semiconductors and industrials, while laggards are defensive names like utilities and consumer staples.

Sector leaders this week:

Semiconductors (SMH) up 5.1%

Banks (KBE) up 4.5%

Industrials up 2.3%

Utilities down 1.2%

Consumer Staples down 1.3%

The Cboe Volatility Index (VIX) is sitting near the lows for the year, a sign traders are not worried about near-term volatility.

Bond yields have risen in the last week as traders have become more confident in the bull narrative.

However, the global slowdown story is not dead. Recent German data has been poor. Overnight, Samsung Electronics said it expects to post a 60% decline in first-quarter operating profit because memory-chip demand has faded. That drop in demand is widely blamed on global trade concerns and weaker smartphone sales that have left chipmakers with a large inventory.


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: bob pisani, spencer platt, getty images news, getty images
Keywords: news, cnbc, companies, argument, data, report, traders, trade, week, recent, market, winning, bull, highs, china, recession, narrative, trading, jobs


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The man who called the small-cap rally now sees record highs ahead

These are the areas of the market that will drive this rally 4:52 PM ET Fri, 22 Feb 2019 | 01:38Federated Investors’ Steve Chiavarone called for a rally in small caps in January. Back on Jan. 11 when he made the call, the IWM Russell 2000 ETF had already bounced 14 percent off its lows. Now he’s calling for even more gains in what were some of the most beaten-up corners of the market last year. “The rally that we’ve had so far this year is just undoing the silliness that happened last December,”


These are the areas of the market that will drive this rally 4:52 PM ET Fri, 22 Feb 2019 | 01:38Federated Investors’ Steve Chiavarone called for a rally in small caps in January. Back on Jan. 11 when he made the call, the IWM Russell 2000 ETF had already bounced 14 percent off its lows. Now he’s calling for even more gains in what were some of the most beaten-up corners of the market last year. “The rally that we’ve had so far this year is just undoing the silliness that happened last December,”
The man who called the small-cap rally now sees record highs ahead Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-23  Authors: keris lahiff, brendan mcdermid, simon dawson, bloomberg, getty images, daniel hernanz ramos, moment, justin sullivan, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, earnings, man, recession, need, small, lows, highs, record, chiavarone, market, rally, called, ahead, 11, sees, smallcap, materials


The man who called the small-cap rally now sees record highs ahead

These are the areas of the market that will drive this rally 4:52 PM ET Fri, 22 Feb 2019 | 01:38

Federated Investors’ Steve Chiavarone called for a rally in small caps in January.

Back on Jan. 11 when he made the call, the IWM Russell 2000 ETF had already bounced 14 percent off its lows. Since then, it has added another 10 percent.

Now he’s calling for even more gains in what were some of the most beaten-up corners of the market last year.

“We really prefer the parts of the market that the market hated back in December, because they were pricing them for recession,” Chiavarone said on CNBC’s “Trading Nation” on Friday, naming energy, industrials and materials as some of the worst hit. “These were all down 25 to 30 percent on the idea that earnings and the economy as a whole were going to go into recession.”

Areas of the market including energy, industrials and materials stocks, alongside small caps, plummeted in December. Since their Boxing Day lows, those sectors have bounced double digits, the XLI industrial ETF by as much as 27 percent.

Chiavarone expects those good times to continue, leading the S&P 500 to break its October record and march onward to 3,100 by the end of the year. That’s another 11 percent on top of the 11 percent in gains already seen in 2019.

“The rally that we’ve had so far this year is just undoing the silliness that happened last December,” said Chiavarone. “The market [is] just getting back to where it should have been to begin with. It should have moved down a little bit on a slight deceleration of growth.”

Impending recession fears that weighed on the market in the fourth quarter aren’t even on Chiavarone’s radar for now.

“For us to get bearish, we need to see a deterioration in the fundamentals that would predict a recession — so claims would need to pick up, inflation would surge, housing starts would have to plummet, the yield curve inverted,” he said. “Right now those indicators suggest that the earliest we should even consider recession is late 2020, early 2021.”

Goldman Sachs has called for a sharp slowdown and weak earnings growth in the United States and Europe but no recession, while Morgan Stanley sees earnings contraction this year for the first time since 2015.


Company: cnbc, Activity: cnbc, Date: 2019-02-23  Authors: keris lahiff, brendan mcdermid, simon dawson, bloomberg, getty images, daniel hernanz ramos, moment, justin sullivan, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, earnings, man, recession, need, small, lows, highs, record, chiavarone, market, rally, called, ahead, 11, sees, smallcap, materials


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Stocks are in a strong uptrend, but traders are turning cautious

The markets are starting off with a somewhat defensive edge on Tuesday, but the overall trend has been remarkably positive. It means more stocks are advancing than declining, and it’s the single most important indicator I look at. Other internals are also strong: New highs are expanding, selling pressure is low and the Dow Jones Industrial Average is riding an eight-week win streak. The market leadership is tilted heavily toward cyclical stocks, which market bulls always like to see lead. A lot


The markets are starting off with a somewhat defensive edge on Tuesday, but the overall trend has been remarkably positive. It means more stocks are advancing than declining, and it’s the single most important indicator I look at. Other internals are also strong: New highs are expanding, selling pressure is low and the Dow Jones Industrial Average is riding an eight-week win streak. The market leadership is tilted heavily toward cyclical stocks, which market bulls always like to see lead. A lot
Stocks are in a strong uptrend, but traders are turning cautious Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: bob pisani, bryan r smith, afp, getty images, drew angerer, source, david a grogan, alexander pohl, nurphoto, daniel acker
Keywords: news, cnbc, companies, near, cautious, rally, strong, highs, stocks, uptrend, market, turning, traders, oppenheimer, markets, positive


Stocks are in a strong uptrend, but traders are turning cautious

The markets are starting off with a somewhat defensive edge on Tuesday, but the overall trend has been remarkably positive. So, why are so many people cautious about the markets?

You wouldn’t be cautious looking at the details. Breadth as measured by the advance/decline line has been improving almost every day since the Dec. 24 bottom. It means more stocks are advancing than declining, and it’s the single most important indicator I look at. That A/D line is now essentially near the historic high it hit late in 2018.

Other internals are also strong: New highs are expanding, selling pressure is low and the Dow Jones Industrial Average is riding an eight-week win streak.

The market leadership is tilted heavily toward cyclical stocks, which market bulls always like to see lead. Since the Dec. 24 low, industrials are up 25.3 percent, energy stocks are up 22 percent, technology stocks are up 20.6 percent, consumer discretionary stocks are up 19.6 percent and financials are up 18.2 percent, according to Oppenheimer.

At the same time, the laggards have all been defensive sectors. Health care is up 14.9 percent, consumer staples are up 11.6 percent and utilities are up 7.6 percent, Oppenheimer noted.

Another positive is that this is not solely a U.S.-led rally. There is a modest global breakout going on as well. Europe’s Stoxx 600 is at four-month highs, as are markets in Shanghai and Korea. Japan is at two-month highs, and oil is at a three-month high.

Yet so many strategists are sounding cautious, like John Stoltzfus at Oppenheimer, who told clients Tuesday morning, “We believe investors should leave the party hats in the box, stay focused on their goals and objectives and keep expectations right-sized avoiding complacency.”

It’s mostly because the good news, such as progress on trade talks, the Fed putting rate hikes on hold and strong market momentum, has been offset by clear signs of slower global growth (Europe and China especially but also possibly including the U.S., where last week’s industrial production and retail sales numbers were especially disappointing) and U.S. earnings expectations that are near zero for the year.

Still, traders like NYSE floor veteran Peter Tuchman of QMS Directex are still taking in the extent of the rally and believe there may be more to come: “No one expected a fast and furious rally coming out of that Christmas Eve sell-off. Now all of a sudden we are up almost 20 percent, and everyone has a list of stocks they want to buy and the market is not helping them. A lot of people who got out during the market downturn in December are now notably underperforming the markets.”


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: bob pisani, bryan r smith, afp, getty images, drew angerer, source, david a grogan, alexander pohl, nurphoto, daniel acker
Keywords: news, cnbc, companies, near, cautious, rally, strong, highs, stocks, uptrend, market, turning, traders, oppenheimer, markets, positive


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Trade friction, growth worries keep dollar near 2019 highs

The dollar held steady versus its peers on Tuesday, hovering close to its 2019 high as U.S.-Sino trade tensions and global growth worries underpinned the greenback’s safe-haven appeal. “The dollar is benefiting from the investor nervousness around the trade talks,” said Sim Moh Siong, currency strategist at Bank of Singapore. The dollar index was steady at 97.04, after advancing 0.45 percent in the previous session, its largest percentage gain since Jan. 24. The single currency was relatively un


The dollar held steady versus its peers on Tuesday, hovering close to its 2019 high as U.S.-Sino trade tensions and global growth worries underpinned the greenback’s safe-haven appeal. “The dollar is benefiting from the investor nervousness around the trade talks,” said Sim Moh Siong, currency strategist at Bank of Singapore. The dollar index was steady at 97.04, after advancing 0.45 percent in the previous session, its largest percentage gain since Jan. 24. The single currency was relatively un
Trade friction, growth worries keep dollar near 2019 highs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: matt cardy, getty images
Keywords: news, cnbc, companies, highs, worries, central, friction, steady, euro, growth, talks, global, currency, near, week, trade, bank, dollar, 2019


Trade friction, growth worries keep dollar near 2019 highs

The dollar held steady versus its peers on Tuesday, hovering close to its 2019 high as U.S.-Sino trade tensions and global growth worries underpinned the greenback’s safe-haven appeal.

Investors are focusing on high level trade talks in China this week where Washington is expected to keep pressing Beijing on long-standing demands that it make sweeping structural reforms to protect American companies’ intellectual property, to end policies aimed at forcing the transfer of technology to Chinese companies, and curb industrial subsidies.

“The dollar is benefiting from the investor nervousness around the trade talks,” said Sim Moh Siong, currency strategist at Bank of Singapore.

“Beyond its safe haven appeal, the dollar is still the highest-yielding currency in the developed world and with all major central banks turning dovish, the greenback seems relatively attractive.”

This week’s talks come as the world’s two largest economies try to hammer out a deal before a March 1 deadline, after which U.S. tariffs on $200 billion worth of Chinese imports are scheduled to increase to 25 percent from 10 percent.

Financial markets have been roiled by the trade tensions over the past year, with business sentiment taking a hit around the world as the fallout of the .S.-China dispute disrupted factory activity and hurt global growth.

The greenback rose 0.1 percent against the yen to 110.47 and was a touch higher versus the Swiss franc at 1.0040.

The dollar index was steady at 97.04, after advancing 0.45 percent in the previous session, its largest percentage gain since Jan. 24. The index has risen for eight straight sessions, mainly thanks to a tumbling euro, which has the largest weighting in the index.

The single currency was relatively unchanged at $1.1278 in Asian trade, having lost nearly half a percent on Monday. The euro has weakened for six consecutive sessions, and traders expect further losses now that the crucial psychological support of $1.13 has been broken.

“The next level of support for EUR/USD is the November low of 1.1215 which should be tested quickly,” said Kathy Lien, managing director of currency strategy at BK Asset Management.

The European Central Bank is expected to maintain a highly accommodative monetary policy this year as growth slows in the euro zone and inflation stays low. Last week, the European Commission sharply cut its forecasts for euro zone growth for this year and next.

Investors are expecting stimulus from the ECB in the form of a cheap loan scheme for banks in the coming months.

Elsewhere, sterling was 0.15 percent firmer at $1.2869, after tumbling 0.75 percent in the previous session. Analysts expect the British pound to remain volatile due to the uncertainty surrounding Brexit.

The British parliament is set to hold a debate on Brexit on Feb. 14 where Prime Minister Theresa May is seeking changes to her deal with Brussels after it was rejected by a record majority in parliament last month.

The Australian dollar, often considered a gauge of global risk appetite, gained around 0.3 percent to $0.7083 as risk sentiment improved on expectations that U.S. lawmakers had reached a tentative deal on border security funding that would avert another partial government shutdown due to start on Saturday.

Traders expect the Aussie to remain under pressure after Reserve Bank of Australia Governor Philip Lowe tempered a long-held tightening bias last week, saying an easing might be just as likely as a hike.

The kiwi dollar was steady at $0.6730. New Zealand’s central bank is expected to leave interest rates unchanged at its policy meeting on Wednesday but may adopt a more dovish tone and cut forecasts, in line with other major central banks as rising global economic risks cloud the outlook.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: matt cardy, getty images
Keywords: news, cnbc, companies, highs, worries, central, friction, steady, euro, growth, talks, global, currency, near, week, trade, bank, dollar, 2019


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