Italian bond yields spike to 4-year highs as the EU slams its new budget plan

Italian sovereign debt yields hit fresh multi-year highs Friday morning, as investors grow cautious over lending to the embattled government after it unveiled new budget plans. Ten-year and 30-year bond yields — yields have an inverse relationship to a bond’s price — hit their highest levels since early 2014, according to Reuters, just hours after the European Union warned of rule breaches in Italy’s draft budget. The interest rate on the 10-year benchmark bond rose to 3.7410 percent by 9:00 a.m


Italian sovereign debt yields hit fresh multi-year highs Friday morning, as investors grow cautious over lending to the embattled government after it unveiled new budget plans. Ten-year and 30-year bond yields — yields have an inverse relationship to a bond’s price — hit their highest levels since early 2014, according to Reuters, just hours after the European Union warned of rule breaches in Italy’s draft budget. The interest rate on the 10-year benchmark bond rose to 3.7410 percent by 9:00 a.m
Italian bond yields spike to 4-year highs as the EU slams its new budget plan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: matt clinch
Keywords: news, cnbc, companies, highs, hit, 4year, italian, early, week, warned, plan, spike, union, slams, eu, yields, italys, budget, unveiled, bond


Italian bond yields spike to 4-year highs as the EU slams its new budget plan

Italian sovereign debt yields hit fresh multi-year highs Friday morning, as investors grow cautious over lending to the embattled government after it unveiled new budget plans.

Ten-year and 30-year bond yields — yields have an inverse relationship to a bond’s price — hit their highest levels since early 2014, according to Reuters, just hours after the European Union warned of rule breaches in Italy’s draft budget.

The interest rate on the 10-year benchmark bond rose to 3.7410 percent by 9:00 a.m. London time after finishing Thursday at 3.673 percent. Shares on Milan’s FTSE MIB also slid 0.9 percent in early trade after steep losses in the previous session.

Investors have shown concerns over Italy’s 2019 budget, which was officially sent to the EU this week for analysis. The anti-establishment and partly right-wing government in Italy plans to increase public spending, sticking with campaign pledges before the general election in March this year.


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: matt clinch
Keywords: news, cnbc, companies, highs, hit, 4year, italian, early, week, warned, plan, spike, union, slams, eu, yields, italys, budget, unveiled, bond


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US economy showing momentum as leading indicators rise for 12th straight month in September

An index made up of leading economic indicators rose for the 12th straight time September, according to data released Thursday. The Conference Board’s Leading Economic Index for the U.S. increased by 0.5 percent last month, in line with what economists polled by Refinitiv expected. The gain takes into account building permits, the ISM index of new orders and stock prices. “However, the LEI’s growth has slowed somewhat in recent months, suggesting the economy may be facing capacity constraints an


An index made up of leading economic indicators rose for the 12th straight time September, according to data released Thursday. The Conference Board’s Leading Economic Index for the U.S. increased by 0.5 percent last month, in line with what economists polled by Refinitiv expected. The gain takes into account building permits, the ISM index of new orders and stock prices. “However, the LEI’s growth has slowed somewhat in recent months, suggesting the economy may be facing capacity constraints an
US economy showing momentum as leading indicators rise for 12th straight month in September Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: fred imbert, scott mcintyre, bloomberg, getty images
Keywords: news, cnbc, companies, indicators, rise, index, straight, growth, stock, momentum, economic, highs, showing, leading, housing, month, suggesting, 12th, economy, orders


US economy showing momentum as leading indicators rise for 12th straight month in September

An index made up of leading economic indicators rose for the 12th straight time September, according to data released Thursday.

The Conference Board’s Leading Economic Index for the U.S. increased by 0.5 percent last month, in line with what economists polled by Refinitiv expected.

The gain takes into account building permits, the ISM index of new orders and stock prices.

“The US LEI improved further in September, suggesting the US business cycle remains on a strong growth trajectory heading into 2019,” said Ataman Ozyildirim, director and global chair at The Conference Board. “However, the LEI’s growth has slowed somewhat in recent months, suggesting the economy may be facing capacity constraints and increasingly tight labor markets.”

Ozyildirim noted economic growth could top 3.5 percent in the second half of this year, but “unless the momentum in housing, orders and stock prices accelerates, that pace is unlikely to be sustained in 2019.”

The U.S. housing market has been under pressure lately as interest rates rise to multiyear highs. The Commerce Department said Wednesday housing starts fell 5.3 percent last month, more than was expected.

Equities have also fallen from record highs set in October. The S&P 500 and Dow Jones Industrial Average are down 4.3 percent and 3.6 percent this month, respectively.


Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: fred imbert, scott mcintyre, bloomberg, getty images
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The stock market’s all-time highs are behind it, Invesco warns

Stocks may be coming off their best day in almost seven months, but Invesco has a warning for investors: Don’t get too complacent. “I don’t think we’re going to hit any new highs this year, and I do expect a lot of turbulence,” Hooper said Tuesday on CNBC’s “Futures Now.” But she doesn’t see strong numbers as a powerful enough catalyst to return stocks to new highs. “I do think stocks will ultimately end higher than where we are today because of earnings,” said Hooper. “I do believe it could hav


Stocks may be coming off their best day in almost seven months, but Invesco has a warning for investors: Don’t get too complacent. “I don’t think we’re going to hit any new highs this year, and I do expect a lot of turbulence,” Hooper said Tuesday on CNBC’s “Futures Now.” But she doesn’t see strong numbers as a powerful enough catalyst to return stocks to new highs. “I do think stocks will ultimately end higher than where we are today because of earnings,” said Hooper. “I do believe it could hav
The stock market’s all-time highs are behind it, Invesco warns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: stephanie landsman, getty images, susana vera, drew angerer, getty images news, david a grogan
Keywords: news, cnbc, companies, thats, earnings, hooper, invesco, alltime, months, stocks, market, strong, markets, think, lot, trade, highs, stock, warns


The stock market's all-time highs are behind it, Invesco warns

Stocks may be coming off their best day in almost seven months, but Invesco has a warning for investors: Don’t get too complacent.

According to the firm’s chief global market strategist, Kristina Hooper, the comeback will be short-lived.

“I don’t think we’re going to hit any new highs this year, and I do expect a lot of turbulence,” Hooper said Tuesday on CNBC’s “Futures Now.”

Those thoughts came as the Dow surged 547 points, or 2.17 percent, on strong quarterly earnings results from names such as Goldman Sachs, Morgan Stanley and Johnson & Johnson. The Dow closed at 25,798.42, and the S&P 500 jumped, closing up 2.1 percent to 2,809.92.

Hooper expects earnings to be a positive near-term market force. But she doesn’t see strong numbers as a powerful enough catalyst to return stocks to new highs.

She believes the trade war remains the elephant in the room despite the recent progress the U.S. made with Mexico and Canada.

“The U.S. has now cleared the deck and can focus more entirely on China. That’s not a good thing, and so I would expect there to continue to be heat,” Hooper said.

Hooper’s assessment of the markets has been on target. On “Futures Now” last month, she said the record stock market run could end in October. She predicted a 5 to 10 percent downdraft that would be followed by a “swift recovery.

And, she’s sticking with that forecast.

“I do think stocks will ultimately end higher than where we are today because of earnings,” said Hooper.

Yet, she went on to call next year “incredibly murky” for the market.

“There’s not a lot of visibility about next year because we have one key issue standing between us and next year, and that’s the midterm elections,” Hooper said. “I do believe it could have an impact on how events unfold over the next several months — particularly trade.”


Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: stephanie landsman, getty images, susana vera, drew angerer, getty images news, david a grogan
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A market bottom is forming, and it will lead to new record highs, Wall Street bull Jeff Saut says

Long-time bull Jeffrey Saut suggests it could be a less chaotic week for investors. “The trading pattern today has been a multiswinging pattern between up and down and that’s usually how bottoms are formed,” he said Monday on CNBC’s “Trading Nation.” Despite his reassuring read on the market, the Dow and S&P 500 couldn’t muster a close in positive territory. Saut, who has been touting the merits of the stock market for years, sees almost a decade left in the secular bull market. I think that’s g


Long-time bull Jeffrey Saut suggests it could be a less chaotic week for investors. “The trading pattern today has been a multiswinging pattern between up and down and that’s usually how bottoms are formed,” he said Monday on CNBC’s “Trading Nation.” Despite his reassuring read on the market, the Dow and S&P 500 couldn’t muster a close in positive territory. Saut, who has been touting the merits of the stock market for years, sees almost a decade left in the secular bull market. I think that’s g
A market bottom is forming, and it will lead to new record highs, Wall Street bull Jeff Saut says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: stephanie landsman, mike blake, drew angerer, getty images news, getty images, marlene awaad, bloomberg, gabjones, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, trading, jeff, record, saut, weeks, pattern, market, wall, highs, bull, markets, lead, forming, doesnt, street, shortterm, sp, thats


A market bottom is forming, and it will lead to new record highs, Wall Street bull Jeff Saut says

Long-time bull Jeffrey Saut suggests it could be a less chaotic week for investors.

According to the Raymond James chief investment strategist, last week’s “minicrash” is not indicative of any fundamental changes in the economy or markets, and there’s evidence a market bottom is forming.

“The trading pattern today has been a multiswinging pattern between up and down and that’s usually how bottoms are formed,” he said Monday on CNBC’s “Trading Nation.”

Despite his reassuring read on the market, the Dow and S&P 500 couldn’t muster a close in positive territory. The Dow saw its fourth negative session in five, and the S&P registered its seventh down day in eight.

“It’s just like a heart attack patient doesn’t get right up off the gurney and run the 100-year dash. It needs to convalesce for a few days,” Saut said. “The equity markets are going to do the same thing.”

Saut, who has been touting the merits of the stock market for years, sees almost a decade left in the secular bull market. But that doesn’t mean he hasn’t warned of short-term hiccups, and this latest pullback was no different — except he acknowledges underestimating its magnitude.

“Two weeks ago on Tuesday, our short-term proprietary model flashed a sell signal. We wrote about it. We told people to abandon trading positions,” Saut said.

Now he’s telling clients to start putting money to work again.

“Earnings season is coming up. I think that’s going to be the catalyst for the equity markets to trade back up to new all-time highs,” he said.

Even though his firm doesn’t put out official year-end targets, Saut expects the S&P 500 to exceed 3,000 by the end of the year, about 8.5 percent above the current level.


Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: stephanie landsman, mike blake, drew angerer, getty images news, getty images, marlene awaad, bloomberg, gabjones, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, trading, jeff, record, saut, weeks, pattern, market, wall, highs, bull, markets, lead, forming, doesnt, street, shortterm, sp, thats


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Gold pulls back from 2-month highs as stocks rebound

Gold fell on Friday, retreating from more than two-month highs hit in the previous session, as global equity markets recovered some poise from dramatic losses. Spot gold was down 0.4 percent at $1,218.76 an ounce, after jumping about 2.5 percent on Thursday as a selloff in equities sent investors toward safe-haven assets. Gold has risen about 1.5 percent this week, on track for its biggest weekly gain in seven. “Breakout for gold on Thursday was around $1,207 to $1,212 and if prices break down t


Gold fell on Friday, retreating from more than two-month highs hit in the previous session, as global equity markets recovered some poise from dramatic losses. Spot gold was down 0.4 percent at $1,218.76 an ounce, after jumping about 2.5 percent on Thursday as a selloff in equities sent investors toward safe-haven assets. Gold has risen about 1.5 percent this week, on track for its biggest weekly gain in seven. “Breakout for gold on Thursday was around $1,207 to $1,212 and if prices break down t
Gold pulls back from 2-month highs as stocks rebound Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-12
Keywords: news, cnbc, companies, highs, pulls, prices, rebound, trading, markets, previous, gold, recovered, week, selloff, 2month, stocks, mks, ounce


Gold pulls back from 2-month highs as stocks rebound

Gold fell on Friday, retreating from more than two-month highs hit in the previous session, as global equity markets recovered some poise from dramatic losses.

Spot gold was down 0.4 percent at $1,218.76 an ounce, after jumping about 2.5 percent on Thursday as a selloff in equities sent investors toward safe-haven assets. Prices hit their highest since July 31 at $1,226.27 on Thursday.

Gold has risen about 1.5 percent this week, on track for its biggest weekly gain in seven.

“The markets have kind of stabilized and things have calmed down a bit and the sort of momentum for gold to push higher is not with us at the moment,” said Macquarie commodity strategist Matthew Turner.

Global shares were having their strongest day in nearly a month on Friday as European and Asian markets recovered from a brutal selloff that left them set for their worst week since February.

Despite gold’s sharpest one-day percentage gain since June 2016 on Thursday, the precious metal is still down about 11 percent from a peak in April as investors bought dollars as the U.S.-China trade war unfolded against a backdrop of rising U.S. interest rates.

“We could see some bounce like this as the futures market is extremely short. But, ultimately prices are going to drift down as the U.S. Federal Reserve is still tightening and rates are going up, while the dollar is still firm. The fundamentals for gold are still weak,” Turner said.

Thursday’s surge helped bullion break above a narrow trading range it has been stuck in for the past 1-1/2 months.

“We need to wait to see how the stock markets are performing later in the day,” said MKS head of trading Afshin Nabavi.

“Breakout for gold on Thursday was around $1,207 to $1,212 and if prices break down to that level again, it would be a good entry point for gold.”

Spot gold may extend its gains to $1,237 per ounce, as suggested by a Fibonacci ratio analysis, according to Reuters technical analyst Wang Tao.

“Gold is trading fairly close to the 100-day moving average at $1,228. There should be plenty of resistance but a close above that level could signal a move higher,” MKS PAMP Group traders said in a note.

Meanwhile, palladium was down 0.8 percent at $1,068.20, after hitting its highest since Jan. 26 at $1,096.80 in the previous session.

Silver rose 0.1 percent to $14.58, while platinum was flat at $839.20.


Company: cnbc, Activity: cnbc, Date: 2018-10-12
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Dollar weakens, yen at October highs after US stocks slide


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Company: cnbc, Activity: cnbc, Date: 2018-10-11
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Bond King Gundlach predicts yields are headed much higher before this move ends

Jeffrey Gundlach wouldn’t be surprised to see Treasury yields leap to new multiyear highs before the bond market calms down. “The curve should probably steepen so maybe the 10-year Treasury makes it to 3.5 percent or 3.6 percent during that move,” he added. As of the latest reading, the 10-year Treasury note yield was at 3.17 percent, down from seven-year highs above 3.2 percent notched earlier in the week. The 30-year yield was last at 3.35 percent. “One of the things that is really fascinating


Jeffrey Gundlach wouldn’t be surprised to see Treasury yields leap to new multiyear highs before the bond market calms down. “The curve should probably steepen so maybe the 10-year Treasury makes it to 3.5 percent or 3.6 percent during that move,” he added. As of the latest reading, the 10-year Treasury note yield was at 3.17 percent, down from seven-year highs above 3.2 percent notched earlier in the week. The 30-year yield was last at 3.35 percent. “One of the things that is really fascinating
Bond King Gundlach predicts yields are headed much higher before this move ends Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: thomas franck, scott eells, bloomberg, getty images
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Bond King Gundlach predicts yields are headed much higher before this move ends

Jeffrey Gundlach wouldn’t be surprised to see Treasury yields leap to new multiyear highs before the bond market calms down.

“If you look at the charts and you look at the way the market’s behaving and you think about the trends that are underneath the bond market, it wouldn’t be surprising at all to see the 30-year [yield] go to 4 percent before this move of the breakout above 3.25 percent is over,” he said on “Halftime Report” Thursday.

“The curve should probably steepen so maybe the 10-year Treasury makes it to 3.5 percent or 3.6 percent during that move,” he added.

As of the latest reading, the 10-year Treasury note yield was at 3.17 percent, down from seven-year highs above 3.2 percent notched earlier in the week. The 30-year yield was last at 3.35 percent.

“One of the things that is really fascinating about this sell-off in bonds is that it’s happening of the context of a really high short position against the Treasury market,” Gundlach added. “With this sell-off you’d have thought that maybe it would be braked a little bit by all of that short positing maybe looking to take profits because rarely do you have this crowded positioning in a market and they’re all making money on it.”

Gundlach is founder and CEO of DoubleLine. He is known for his investment acumen in the fixed income markets. DoubleLine has assets under management of more than $120 billion, according to its website.

Treasury yields have soared in recent weeks as the Fed has raised rates and data has showed a strong economy, sending both the 10-year rate and the 30-year rate above multiyear highs, and beyond what the so-called Bond King dubbed a “game changer.”

The DoubleLine Capital CEO wrote on Twitter in September, “Yields: On the march! 10’s above 3% again, this time without financial media concern. Watch 3.25% on 30’s. Two closes above = game changer.”


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: thomas franck, scott eells, bloomberg, getty images
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A correction in more than half of the S&P 500 could be bullish

Average S&P stock still in correction, but that could be bullish 4:42 PM ET Tue, 9 Oct 2018 | 00:56A major market sell-off on Wednesday swept the S&P 500 4 percent from its all-time highs. Around 60 percent of the S&P 500 is in a correction, having dropped more than 10 percent from 52-week highs, while just over 130 components have fallen at least 20 percent. A peak in volatility and spike in stocks at 52-week lows in February, for example, led to a rebound on the S&P 500 during the following si


Average S&P stock still in correction, but that could be bullish 4:42 PM ET Tue, 9 Oct 2018 | 00:56A major market sell-off on Wednesday swept the S&P 500 4 percent from its all-time highs. Around 60 percent of the S&P 500 is in a correction, having dropped more than 10 percent from 52-week highs, while just over 130 components have fallen at least 20 percent. A peak in volatility and spike in stocks at 52-week lows in February, for example, led to a rebound on the S&P 500 during the following si
A correction in more than half of the S&P 500 could be bullish Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: keris lahiff, andrew harrer, bloomberg, getty images, alex wong, michael nagle, david paul morris, kcna, thomas barwick getty images, source
Keywords: news, cnbc, companies, spike, correction, 52week, half, selloff, stock, highs, 500, bullish, sp, volatility, stocks, vix


A correction in more than half of the S&P 500 could be bullish

Average S&P stock still in correction, but that could be bullish 4:42 PM ET Tue, 9 Oct 2018 | 00:56

A major market sell-off on Wednesday swept the S&P 500 4 percent from its all-time highs. For a surprisingly large number of stocks, it looks even worse.

Around 60 percent of the S&P 500 is in a correction, having dropped more than 10 percent from 52-week highs, while just over 130 components have fallen at least 20 percent. The worst hit, Newell Brands, is down 58 percent.

Michael Batnick, director of research at Ritholtz Wealth Management, says this could actually be a bullish sign for the stock market.

“When you have these corrections under the surface, the lagging stocks catch up to the index, and it’s no harm, no foul… Every time in the past where we’ve seen either a VIX spike or a washout where we see 52-week lows spike, that has been a really good buying opportunity,” he said Tuesday on CNBC’s “Trading Nation.”, referring to Cboe’s volatility index.

A peak in volatility and spike in stocks at 52-week lows in February, for example, led to a rebound on the S&P 500 during the following six-month stretch. During that February sell-off, the VIX peaked to over 50, a multiyear high, while the S&P 500 tumbled nearly 12 percent.

The opposite scenario where most stocks rally alongside the broader index would be a worry to Batnick.

“If we were in a situation where all stocks were hitting 52-week highs, that would be euphoria and that would be much more of a reason to turn cautious as opposed to what we’re seeing today, which is some stocks are going up, and some stocks are going down and this is pretty normal behavior,” he said.

Just 50 S&P 500 stocks were less than 2 percent from 52-week highs on Tuesday.


Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: keris lahiff, andrew harrer, bloomberg, getty images, alex wong, michael nagle, david paul morris, kcna, thomas barwick getty images, source
Keywords: news, cnbc, companies, spike, correction, 52week, half, selloff, stock, highs, 500, bullish, sp, volatility, stocks, vix


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Two-thirds of the S&P 500 isin a correction

Two-thirds of the stocks in the S&P 500 ended the trading session in correction territory or worse on Wednesday, as a sell-off led by technology names deepened a steep drop for the index in October. The S&P 500 fell 3.3 percent at 2,785 amid fears of rising interest rates and the flight from tech stocks. There were 190 components in correction territory, meaning they have fallen by 10 to 20 percent from their 52-week highs. The stocks in correction included retail names like Michael Kors, financ


Two-thirds of the stocks in the S&P 500 ended the trading session in correction territory or worse on Wednesday, as a sell-off led by technology names deepened a steep drop for the index in October. The S&P 500 fell 3.3 percent at 2,785 amid fears of rising interest rates and the flight from tech stocks. There were 190 components in correction territory, meaning they have fallen by 10 to 20 percent from their 52-week highs. The stocks in correction included retail names like Michael Kors, financ
Two-thirds of the S&P 500 isin a correction Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: gina francolla, tom dichristopher, brendan mcdermid
Keywords: news, cnbc, companies, correction, names, territory, components, index, sps, 500, highs, twothirds, tech, sp, stocks, isin


Two-thirds of the S&P 500 isin a correction

Two-thirds of the stocks in the S&P 500 ended the trading session in correction territory or worse on Wednesday, as a sell-off led by technology names deepened a steep drop for the index in October.

When the dust settled on Wednesday, 332 of the S&P’s 505 components — or 66 percent of the index — had fallen by 10 percent or more from their 52-week highs. The S&P 500 fell 3.3 percent at 2,785 amid fears of rising interest rates and the flight from tech stocks.

There were 190 components in correction territory, meaning they have fallen by 10 to 20 percent from their 52-week highs. The stocks in correction included retail names like Michael Kors, financials such as Citigroup, and tech giants Amazon and Google’s parent Alphabet.

Meanwhile, another 142 stocks were down 20 percent from their recent peak, sitting in bear market territory. Tech components Intel, Facebook and Twitter were among those names, as were automakers Ford and GM and industrials American Airlines and GE.

Wednesday’s losses pushed the S&P’s drop this month to more than 4.4 percent, with the index posting its first five-day losing streak since late 2016.


Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: gina francolla, tom dichristopher, brendan mcdermid
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In the hunt for yield, these Dow stocks could be investors’ best bets

And the biggest blue chip high-dividend stocks like Verizon, IBM, Exxon Mobil and Procter & Gamble are all in the green over the past three months. “One of our favorite charts is the chart of Verizon,” O’Hara said Tuesday on CNBC’s “Trading Nation.” “If you look at the total return, you actually see that bearish-to-bullish reversal, we saw the price broke out,” said O’Hara. The other buy in the group, according to Schlossberg, is Exxon Mobil, another Dow stock he likes for its high dividend. Ver


And the biggest blue chip high-dividend stocks like Verizon, IBM, Exxon Mobil and Procter & Gamble are all in the green over the past three months. “One of our favorite charts is the chart of Verizon,” O’Hara said Tuesday on CNBC’s “Trading Nation.” “If you look at the total return, you actually see that bearish-to-bullish reversal, we saw the price broke out,” said O’Hara. The other buy in the group, according to Schlossberg, is Exxon Mobil, another Dow stock he likes for its high dividend. Ver
In the hunt for yield, these Dow stocks could be investors’ best bets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: keris lahiff, andrew harrer, bloomberg, getty images, alex wong, michael nagle, david paul morris, kcna, thomas barwick getty images, source
Keywords: news, cnbc, companies, market, stocks, schlossberg, bets, best, verizon, ohara, hunt, return, highs, mobil, yields, dow, total, yield, investors, exxon


In the hunt for yield, these Dow stocks could be investors' best bets

In the hunt for yield, these Dow stocks could be investors’ best bets 3:35 PM ET Tue, 9 Oct 2018 | 03:37

Rising rates are shaking the market to its core as bond yields held at their highest level in seven years, but an unexpected group of winners is emerging.

Bond proxies, often victim to rising rates, have held up surprisingly well. Sectors like consumer staples, utilities and real estate have been outperforming the broader market. And the biggest blue chip high-dividend stocks like Verizon, IBM, Exxon Mobil and Procter & Gamble are all in the green over the past three months.

One of those names looks primed for a breakout, said JC O’Hara, chief market technician at MKM Partners.

“One of our favorite charts is the chart of Verizon,” O’Hara said Tuesday on CNBC’s “Trading Nation.” “If we look at the recent price performance, we saw a bearish-to-bullish reversal here and to us that shows us that the bulls are back engaged in the stock.”

Dow stock Verizon tumbled 25 percent from its peak in mid-2016 to a trough in mid-2017. Its downward trend reversed itself from that July 2017 bottom and it has since rallied back to those 2016 highs, a gain of 30 percent.

On a total return basis, Verizon has also broken out above a key resistance level stretching back to those highs more than two years ago, said O’Hara.

“If you look at the total return, you actually see that bearish-to-bullish reversal, we saw the price broke out,” said O’Hara. “We have a great chart that’s breaking to new highs. That’s something that we like.”

Verizon broke above its 2016 peak on a total return basis earlier this year.

Verizon also finds a fan in Boris Schlossberg, managing director of FX strategy at BK Asset Management.

“Verizon is my favorite name among all those high yielders for a completely different reason — because of 5G,” Schlossberg said Tuesday on “Trading Nation.” The next generation of wireless networks, 5G, “could upend markets in gaming and broadcasting and Verizon is going to be the first player in that space.”

The other buy in the group, according to Schlossberg, is Exxon Mobil, another Dow stock he likes for its high dividend. He says the oil company should ride the energy wave as crude prices hold above more than $70 a barrel.

Verizon has a dividend yield of 4.4 percent, while Exxon Mobil yields 3.8 percent.


Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: keris lahiff, andrew harrer, bloomberg, getty images, alex wong, michael nagle, david paul morris, kcna, thomas barwick getty images, source
Keywords: news, cnbc, companies, market, stocks, schlossberg, bets, best, verizon, ohara, hunt, return, highs, mobil, yields, dow, total, yield, investors, exxon


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