Alphabet is marching toward the $1 trillion club, but Jim Cramer is skeptical of the move

Alphabet is close to joining one of the most elusive clubs on Wall Street, but CNBC’s Jim Cramer said Monday that he is skeptical of the progress. Shares in Alphabet, the tech giant that owns Google, rose almost $10 to an all-time closing high of $1,440.03, pulling within 1% of reaching $1 trillion of market capitalization. Alphabet was worth about $992.7 billion as of Monday’s close, a couple of slots away from being the most valuable company on Wall Street. Three other tech behemoths have cros


Alphabet is close to joining one of the most elusive clubs on Wall Street, but CNBC’s Jim Cramer said Monday that he is skeptical of the progress.
Shares in Alphabet, the tech giant that owns Google, rose almost $10 to an all-time closing high of $1,440.03, pulling within 1% of reaching $1 trillion of market capitalization.
Alphabet was worth about $992.7 billion as of Monday’s close, a couple of slots away from being the most valuable company on Wall Street.
Three other tech behemoths have cros
Alphabet is marching toward the $1 trillion club, but Jim Cramer is skeptical of the move Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: tyler clifford
Keywords: news, cnbc, companies, microsoft, tech, wall, jim, stocks, trillion, market, apple, cramer, skeptical, billion, worth, club, alphabet, marching


Alphabet is marching toward the $1 trillion club, but Jim Cramer is skeptical of the move

Alphabet is close to joining one of the most elusive clubs on Wall Street, but CNBC’s Jim Cramer said Monday that he is skeptical of the progress.

Shares in Alphabet, the tech giant that owns Google, rose almost $10 to an all-time closing high of $1,440.03, pulling within 1% of reaching $1 trillion of market capitalization.

“Now, I don’t like this move. It’s based on nothing fundamental, just the momentum that we see in so many tech names,” the “Mad Money” host said.

Alphabet was worth about $992.7 billion as of Monday’s close, a couple of slots away from being the most valuable company on Wall Street.

Alphabet stock climbed more than 28% in 2019, shy of the 35% gain that the Nasdaq Composite it trades on made in the year. The stock has had just two down days thus far in 2020 and has advanced a total of 7.64% since the start of the year, which beats the tech-heavy Nasdaq’s nearly 3.4% gain.

Three other tech behemoths have crossed the $1 trillion mark, including Microsoft, Apple and Amazon, though the latter now holds a market cap of $937.7 billion. Apple captures nearly $1.4 trillion of market value, while Microsoft holds $1.2 trillion, according to FactSet.

Facebook, the runner-up to all of the aforementioned companies, is worth almost $633 billion. No other company is valued above $500 billion by the market.

While these companies all hold high valuations of varying levels, they all share a common denominator in Cramer’s eyes: the fundamentals. Cramer worries they’ll have a tough time justifying their recent gains when they report quarterly performances in coming weeks.

He fears their stocks could recede if they do not report substantially higher-than-expected numbers.

“We’re witnessing the same thing in the two other stocks in the trillion-dollar club, and that’s Microsoft and Apple, which means their stocks may not be able to withstand any earnings results short of a super beat, not just ‘better than expected’ by a couple of pennies. I don’t know if that’s even possible,” Cramer said. “Hey, by the way, Facebook’s in the same boat.”


Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: tyler clifford
Keywords: news, cnbc, companies, microsoft, tech, wall, jim, stocks, trillion, market, apple, cramer, skeptical, billion, worth, club, alphabet, marching


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Bulletproof stock market shakes off negative trade headlines and keeps marching to records

On Monday, CNBC’s Eunice Yoon reported that Chinese officials were pessimistic about a trade deal. The S&P 500 has fallen nine times since Oct. 11, with none of those moves even reaching the 0.4% mark. FactSet data shows S&P 500 companies discussing tariffs in the third quarter fell by 29% from the second quarter of the year. China hurting more from trade war than USThe trade war has taken its toll on both the U.S. and Chinese economies over the past year, but more so on China, according to Gold


On Monday, CNBC’s Eunice Yoon reported that Chinese officials were pessimistic about a trade deal.
The S&P 500 has fallen nine times since Oct. 11, with none of those moves even reaching the 0.4% mark.
FactSet data shows S&P 500 companies discussing tariffs in the third quarter fell by 29% from the second quarter of the year.
China hurting more from trade war than USThe trade war has taken its toll on both the U.S. and Chinese economies over the past year, but more so on China, according to Gold
Bulletproof stock market shakes off negative trade headlines and keeps marching to records Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-19  Authors: fred imbert
Keywords: news, cnbc, companies, shakes, trade, marching, record, tariffs, war, market, keeps, stock, gains, companies, negative, bulletproof, 500, records, headlines, deal


Bulletproof stock market shakes off negative trade headlines and keeps marching to records

Traders wear “DOW 28,000” hats on the floor of the New York Stock Exchange (NYSE) on November 15, 2019 in New York City. As trade talks with China show some progress, the Dow Jones Industrial Average rose 222 points to close above 28, 000 for a new record. Spencer Platt | Getty Images

Negative trade headlines, which have caused chaos with the markets at times over the last two years, have seemed to lose their ability to knock the stock market down lately as it marches to new records. Investors pointed to a number of reasons why this market just seems to want to go higher as it ends 2019. Just on Tuesday, President Donald Trump threatened to raise tariffs even higher if there’s no deal with China. The S&P dipped slightly and then came immediately back. On Monday, CNBC’s Eunice Yoon reported that Chinese officials were pessimistic about a trade deal. Stocks opened the day lower but then eked out record highs before the close. Among the reasons cited for the market tailwind in the face of fragile trade negotiations are investor year-end positioning and adjustments made by companies to deal with tariffs if they remain. The economic impact of the existing tariffs have also been more limited than initially feared. “The reason this market continues to rally is that nobody is selling,” said Matt Maley, chief market strategist at Miller Tabak, in a note. “This is especially true for institutional investors. It has been a great year…so they cannot afford to take any chips off the table as we move into the last six weeks of the year.”

In other words, with the S&P 500 up nearly 25%, professional investors don’t want to be the ones that sell early and then have to explain to clients why they missed out on a potentially historic year of gains. The benchmark is on pace for its biggest annual gain since 2013, when it surged nearly 30%. It’s been a slow march upward. Wall Street’s recent march to record highs has most come through small gains at a time. The S&P 500 has recorded just two gains of at least 1% since Oct. 11. In that time, the index has posted 14 gains of less than 0.6%. Stocks haven’t had any meaningful pullback over that time period either. The S&P 500 has fallen nine times since Oct. 11, with none of those moves even reaching the 0.4% mark.

Corporate America OK with current tariffs?

The U.S.-China trade war has been going on since last year, leaving companies scrambling to adjust to the tighter trade conditions and issuing warnings about the conflict’s impact on their bottom lines. But talk around trade from companies has fallen off. FactSet data shows S&P 500 companies discussing tariffs in the third quarter fell by 29% from the second quarter of the year. On a year-over-year basis, that number dropped by 25%. This could be a sign that Corporate America has grown more comfortable with tariffs staying at current levels, which could be translating into improving market sentiment around U.S.-China trade. Jeff Mills, chief investment officer at Bryn Mawr Trust, said there was so much negativity priced in around trade in the market, “whereas now, you’re starting to see the initial signs of optimism finding their way into the marketplace.” “I don’t think we’re anywhere near the point of euphoria but I do think that negative sentiment is less of a market asset than maybe it was a month ago,” Mills said.

China hurting more from trade war than US

The trade war has taken its toll on both the U.S. and Chinese economies over the past year, but more so on China, according to Goldman Sachs. Jan Hatzius, the bank’s chief U.S. economist, told clients in a note Monday the trade war is shaving between 0.7% and 0.8% from the Chinese economy, slightly more than in the U.S. He added, however, the economic drag from the trade war should “gradually fade” in 2020 as tariffs have “have likely peaked.”

Still hopes for a deal


Company: cnbc, Activity: cnbc, Date: 2019-11-19  Authors: fred imbert
Keywords: news, cnbc, companies, shakes, trade, marching, record, tariffs, war, market, keeps, stock, gains, companies, negative, bulletproof, 500, records, headlines, deal


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Hundreds chant anti-India slogans in seething Kashmir on eve of Muslim holy festival

Pakistani Christian shout slogans in support of Kashmiris at a rally in the connection of the country Independence Day in Quetta on August 11, 2019, after the Indian government stripped Jammu and Kashmir of its autonomy. Angry Kashmiris gathered at a mosque in Srinagar’s Soura neighborhood after afternoon prayers on Sunday and began shouting anti-India slogans, according to two Reuters witnesses. Protesters carried a large banner carrying the words “Save Article 35A,” referring to the constituti


Pakistani Christian shout slogans in support of Kashmiris at a rally in the connection of the country Independence Day in Quetta on August 11, 2019, after the Indian government stripped Jammu and Kashmir of its autonomy. Angry Kashmiris gathered at a mosque in Srinagar’s Soura neighborhood after afternoon prayers on Sunday and began shouting anti-India slogans, according to two Reuters witnesses. Protesters carried a large banner carrying the words “Save Article 35A,” referring to the constituti
Hundreds chant anti-India slogans in seething Kashmir on eve of Muslim holy festival Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12
Keywords: news, cnbc, companies, eve, slogans, indian, soura, kashmirs, holy, jammu, hundreds, chant, india, seething, antiindia, kashmiris, marching, kashmir, region, festival, muslim


Hundreds chant anti-India slogans in seething Kashmir on eve of Muslim holy festival

Pakistani Christian shout slogans in support of Kashmiris at a rally in the connection of the country Independence Day in Quetta on August 11, 2019, after the Indian government stripped Jammu and Kashmir of its autonomy.

Hundreds of people protested in Kashmir’s main city of Srinagar on Sunday against India’s decision to curb its autonomy, despite new restrictions on travel and a seventh straight day of communications blackout.

Restrictions that had been temporarily eased on Friday and Saturday — allowing some bakeries, pharmacies and fruit shops to open ahead of the Muslim holy festival of Eid al-Adha — were reinstated in major parts of the city on Sunday afternoon.

Police vans drove around some areas ordering people to shut shop and go home, and most streets were silent by evening, as thousands of troops kept vigil, witnesses said.

Indian Prime Minister Narendra Modi’s government locked down the Muslim-majority region last Sunday, cutting off communications, detaining more than 300 political leaders and activists, and putting a “virtual curfew” into force with numerous roadblocks stopping movement.

Seeking to tighten its grip on the region also claimed by neighboring Pakistan, India announced last Monday that it was scrapping Jammu and Kashmir’s right to frame its own laws and allowed non-residents to buy property there.

Angry Kashmiris gathered at a mosque in Srinagar’s Soura neighborhood after afternoon prayers on Sunday and began shouting anti-India slogans, according to two Reuters witnesses.

Protesters carried a large banner carrying the words “Save Article 35A,” referring to the constitutional provision that India revoked last week. A swarm of women and girls in colourful headscarves followed the marching men.

“What do we want? Freedom! When do we want it? Now!” the crowd shouted, marching around the neighborhood.

Some of them held up paper banners, including one that read: “Modi, Kashmir is not your father’s property.”

India’s Home Ministry did not immediately respond to a request for comment. The demonstration in Soura followed a much larger protest in the same area on Friday, when pro-independence youths marched before being repelled by tear gas and pellets.

Leaders in Kashmir had warned of a backlash against the stripping of autonomy in a territory where militants have been fighting Indian rule for nearly 30 years, resulting in the deaths of more than 50,000 people.


Company: cnbc, Activity: cnbc, Date: 2019-08-12
Keywords: news, cnbc, companies, eve, slogans, indian, soura, kashmirs, holy, jammu, hundreds, chant, india, seething, antiindia, kashmiris, marching, kashmir, region, festival, muslim


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Dow is ‘marching towards 30,000,’ analyst says

In fact, he said, many indicators show that the U.S. is in “great shape.” “I think we’re still marching towards 30,000” on the Dow Jones Industrial Average. While volatility has crept into equities, “the economy’s in great shape,” Hennessy added. “The job numbers are in great shape. “The difference is there’s no euphoria in this marketplace, and that’s what would actually end the bull market,” he said.


In fact, he said, many indicators show that the U.S. is in “great shape.” “I think we’re still marching towards 30,000” on the Dow Jones Industrial Average. While volatility has crept into equities, “the economy’s in great shape,” Hennessy added. “The job numbers are in great shape. “The difference is there’s no euphoria in this marketplace, and that’s what would actually end the bull market,” he said.
Dow is ‘marching towards 30,000,’ analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-30  Authors: tyler clifford
Keywords: news, cnbc, companies, analyst, youre, market, bull, dow, shape, pride, 30000, hennessy, theres, euphoria, worst, great, marching


Dow is 'marching towards 30,000,' analyst says

There’s no euphoria, but euphoria is what ends the bull market, says portfolio manager 2 Hours Ago | 03:08

The recent market sell-off is not an indication of the nation’s economic health, Wall Street analyst Neil Hennessy told CNBC on Tuesday.

In fact, he said, many indicators show that the U.S. is in “great shape.”

“When I look at the market and economy, they’re completely different,” the Hennessy Funds investment chief said on “Power Lunch.” “I think we’re still marching towards 30,000” on the Dow Jones Industrial Average.

While volatility has crept into equities, “the economy’s in great shape,” Hennessy added. “The job numbers are in great shape. Corporate cash is in great shape. Cash flow’s up. The whole nine yards.”

He said he would look for value because it is always in the market in both good times and bad times.

U.S. equities have had a rocky month. The Dow is off by 6.9 percent, its worst performance since May 2010. The S&P 500 is down 8.7 percent in October, its worst month since February 2009.

The recent action prompted “Mad Money” host Jim Cramer to assert on Monday that “the stock market is signaling that the economy is in for pretty rapid deterioration, just like 2008 … fortunately, there’s no systemic risk.”

Jason Pride, CIO of Glenmede Trust Company, agrees with Hennessy. He said his firm would not change its portfolios “all that much” as its strategy has been to tilt portfolios “towards defensiveness and towards value.”

Glenmede has been concerned about the narrow growth in glamour stocks roughly over the past year, Pride said, but there’s more to come.

In order to broaden the base, Pride says: “Come in at lower valuation levels, set up for the next part of this ongoing bull market, we think makes sense, but it doesn’t mean that investors should be really reacting that dramatically.”

Looking forward over the next 12 months, Hennessy said, the market reminds him of the phase between 1982 and 2000 when “the market was up each and every year” except for 1990.

“The bottom line is, if you’re just patient, you’re going to make money,” although not as much as in 1999, Hennessy said.

“The difference is there’s no euphoria in this marketplace, and that’s what would actually end the bull market,” he said.

— CNBC’s Tom Franck contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-10-30  Authors: tyler clifford
Keywords: news, cnbc, companies, analyst, youre, market, bull, dow, shape, pride, 30000, hennessy, theres, euphoria, worst, great, marching


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