Live stock market updates: S&P 500 record, mystery housing move, coronavirus, chips jump

—Domm10:21 am: US home sales numbers help sentimentU.S. home sales easily beat expectations, jumping to a nearly 2-year high. However, Piper Sandler said in a note to clients that higher than expected expenses would put pressure on the stock and shares are down roughly 3.3%. S&P 500 and Nasdaq hit recordsThe S&P 500 added about 0.3% and touched a new intraday record. -Melloy9:03 am: Tesla set to top $100 billion at the openShares of Tesla rose about 5% in premarket trading. If the gains hold, th


—Domm10:21 am: US home sales numbers help sentimentU.S. home sales easily beat expectations, jumping to a nearly 2-year high.
However, Piper Sandler said in a note to clients that higher than expected expenses would put pressure on the stock and shares are down roughly 3.3%.
S&P 500 and Nasdaq hit recordsThe S&P 500 added about 0.3% and touched a new intraday record.
-Melloy9:03 am: Tesla set to top $100 billion at the openShares of Tesla rose about 5% in premarket trading.
If the gains hold, th
Live stock market updates: S&P 500 record, mystery housing move, coronavirus, chips jump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: cnbccom staff
Keywords: news, cnbc, companies, stock, live, housing, coronavirus, level, record, netflix, tesla, mystery, market, jump, stocks, trading, bank, shares, higher, earnings, updates


Live stock market updates: S&P 500 record, mystery housing move, coronavirus, chips jump

This is a live blog. Check back for updates.

10:28 am: Homebuilders started to pop even before existing homes data hit

Homebuilder stocks and the SPDR S&P Homebuilders ETF all moved to highs after the 10 a.m. ET report of better than expected existing home sales. But the XHB, Lennar, DR Horton, Pulte, KB Home all kicked into gear and started moving higher in the minutes ahead of the 10 a.m. release. Some gains were given back after peaking, after the report. “They’ve been having pretty good news. I think it’s just carry through,” said Art Cashin, director of floor operations at UBS. Home sales in December totaled 5.54 million, vs. 5.43 million expected. It’s the highest level since February 2018. The clincher is the supply of homes for resale at 3 months, a record low, and that in itself is enough to put a lift in the homebuilders .

Recent housing data has been very strong. —Domm

10:21 am: US home sales numbers help sentiment

U.S. home sales easily beat expectations, jumping to a nearly 2-year high. U.S. home sales increased 3.6% in December to a seasonally adjusted 5.54 million. Economists polled by Reuters expected a gain of 1.3% to 5.43 million units sold. The report from the National Association of Realtors is the latest sign the U.S. housing market is getting a boost from the three rate cuts implemented by the Federal Reserve last year. Data released last week showed housing stars surged last month to a 13-year high. Homebuilders Toll Brothers and Lennar were higher. —Imbert

10:16 am: Regional banks among the few big losers Wednesday

Regional banks are the losers in early trading, with Zions Bancorporation and Northern Trust suffering two of the largest declines. Zions was down 5.3% after reporting earnings for the fourth-quarter Tuesday night. The Utah-based bank holding company reported a decline in its loan balance, and Raymond James lowered its price target on the stock to $59 per share from $61 per share while lowering its earnings estimate. Zions was also downgraded to neutral from buy at Bank of America, according to FactSet. Northern Trust reported its fourth-quarter results Wednesday morning, and its $1.56 billion in revenue was above the $1.55 billion expected, according to Refinitiv. However, Piper Sandler said in a note to clients that higher than expected expenses would put pressure on the stock and shares are down roughly 3.3%. – Pound

10:11 am: Chip stock ETF hits all-time high

The VanEck Vectors Semiconductor ETF (SMH) hit a record led by Teradyne, Lam Research, Skyworks, and Micron

Tearadyne trading at multi-year highs back to July 2000

Skyworks is trading at all-time high levels back to the creation of the company after the merger of Alpha Industries and Conexant in June, 2002

Micron is trading at its highest level since June 2018 -Francolla

9:56 am: Pandemic fears drive 10-year Treasury yield to important test

The 10-year Treasury yield has been resting at 1.76%, after dropping to that level as the world worried about the new Chinese coronavirus Tuesday. Risk markets are rallying, and yields are higher Wednesday, but the 10-year still hovers near Tuesday’s lows, a key level on the charts. “That 1.76 level has provided support at a few different moments in January. It also corresponds to the bottom of an opening gap, back to some of the volatility around the Iranian tensions,” said Jon Hill of BMO. “But the intraday low of Jan. 8 was 1.70. That to me is the defacto range bound.” He said it’s now testing resistance for further rallies in duration. Yields move lower when bond prices rise. Treasurys were expected to trade quietly this week due to the light data calendar, lack of new supply, and dearth of Fed speak ahead of next week’s FOMC meeting. — Domm

9:51 am: Coronavirus death toll rises

CNBC’s Eunice Yoon reported Chinese state TV confirmed the coronavirus has killed 17 people with confirmed cases climbing to 444 in total. The virus stemmed from Wuhan, China, less than a week before Lunar New Year, when millions of Chinese travel at home and abroad. Related stocks were still higher, however. Wynn Resorts was up 0.4% and United Airlines added 0.6%. —Li

9:45 am: Bank of America’s retail clients bought stocks for the first time in eight weeks

Bank of America said its retail clients were net buyers of stocks last week after an eight-week selling streak. The S&P 500 gained 2% in the week ending Jan. 17, hitting new records. The buying was largely driven by inflows into exchange-traded funds, the bank noted. Meanwhile, buybacks by Bank of America’s corporate clients picked up as earnings season kicked off and the amount has been consistent with the historical trends, the bank said. Its hedge funds and institutional clients, however, continued to sell for four and three weeks, respectively. — Li

9:30 am: Stocks rise at the open. S&P 500 and Nasdaq hit records

The S&P 500 added about 0.3% and touched a new intraday record. The Nasdaq Composite also hit a record. Shares of Tesla jumped 4%. IBM added more than 3% and was the biggest gainer in the S&P 500. Netflix, meanwhile, was lower, falling almost 2%. -Melloy

9:03 am: Tesla set to top $100 billion at the open

Shares of Tesla rose about 5% in premarket trading. If the gains hold, the company’s market value would climb to more than $103 billion at the open of trading. That’s a closely watched level for the electric automaker’s stock, as CEO Elon Musk would land the first of a possibly massive payout if Tesla can stay above $100 billion in value on both a 30-day and six-month trailing average. -Sheetz

8:59 am: Vertical Research Partners is ‘throwing in the towel’ on Boeing and downgrading the stock to a hold

The fallout from Boeing’s 737 Max keeps getting worse. On Tuesday the company said it doesn’t expect regulators to sign off on the jet until June or July, which is later than some, including Vertical Research’s Robert Stallard, were predicting. On Wednesday Stallard downgraded the stock to a hold and lowered his target to $294, saying the “ramifications” of the grounded jet have “yet to reverberate.” He slashed his estimates for 2019-2022, and said the company will likely halt buybacks until 2022. With shares of Boeing down nearly 17% in the last six months, Stallard acknowledged that the call is belated. -Stevens

8:57 am: Barclays upbeat on coming earnings of top tech stocks

The firm’s internet analyst Ross Sandler said he expects “management teams to sound upbeat” when technology companies reporting fourth quarter results soon. Sandler noted continuing strength of Alphabet and Amazon, saying to buy any weakness in the stocks as “large caps likely see growth accelerate in 1Q20.” The Barclays analyst also called out its three best picks for investors looking to buy before tech earnings: Snap, Facebook and Uber. – Sheetz

8:54 am: Wedbush expects Tesla earnings “will not disappoint”

Wedbush analyst Dan Ives raised his price target on shares of Tesla to $550 from $370, saying “we believe Musk & Co. will not disappoint” when the electric automaker reports earnings on Jan. 29. Ives’ note was incrementally more optimistic about Tesla’s outlook in China, as he updated the potential for those operations to “at least $100” a share from “$75 to $100″ two weeks ago. Wedbush has a neutral rating on Tesla. -Sheetz

8:39 am: Coronavirus-related names are rebounding

Travel and hotel stocks rebounded on Wednesday, after falling Tuesday on fears that the coronavirus outbreak in China would dent international travel. Shares of casino and hotel companies Wynn Resorts and Las Vegas Sands gained nearly 1% each, after falling 6% and 5%, respectively on Tuesday. United Airlines jumped nearly 1%, American Airlines rose more than 1% and Delta Air and Southwest all gained slightly in premarket trading. -Fitzgerald

8:38 am: Investors using better-than-expected earnings to take profits in individual stocks

Wall Street may be using the earnings season to take profits off the table after the market’s stunning run to record highs this past one year. Data compiled by Bespoke Investment Group shows stocks have opened higher by an average of 0.62% after a company reports quarterly earnings. However, those stocks decline by an average of 0.56% into market close.”We’re seeing investors use earnings as a reason to lighten up a bit,” Bespoke said in a tweet.—Imbert

8:33 am: Netflix rebounds as Wall Street analysts shrug off subscriber miss

Netflix was the first of the so-called FANG stocks to report fourth-quarter results. The streaming giant beat on the top and bottom line, but gave disappointing guidance and posted a miss on domestic subscriber growth. Wall Street analysts largely looked past the weakness and believe Netflix is on the right track to profitability. Goldman Sachs said the company’s content investments, distribution partnerships and global positioning should drive subscriber growth “significantly above consensus expectations.” Bank of America expects Netflix to be “increasingly dominant overseas” in the next year. Credit Suisse said the set-up is “quite favorable for Netflix heading into 2020,” and the subscriber guidance looks “conservative.” Shares of Netflix rose more than 1% in premarket trading on Wednesday, after losing as much as 2% Tuesday after the bell following the earnings report.Click here to read more about what every major analyst had to say about Netflix’s latest earnings. -Li

8:30 am: Dow set to rise


Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: cnbccom staff
Keywords: news, cnbc, companies, stock, live, housing, coronavirus, level, record, netflix, tesla, mystery, market, jump, stocks, trading, bank, shares, higher, earnings, updates


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Supply of homes for sale hits record low, and prices suddenly jump

A worker stands on the roof of a home under construction at a new housing development in San Rafael, California. Sales of existing homes rose a steeper-than-expected 3.5% in December compared with January, according to the National Association of Realtors. That demand has pushed the supply of homes for sale down 8.5% annually to the lowest level since the Realtors began tracking inventory in 1982. At the current sales pace, the total supply would sell out in just three months. A six months’ supp


A worker stands on the roof of a home under construction at a new housing development in San Rafael, California.
Sales of existing homes rose a steeper-than-expected 3.5% in December compared with January, according to the National Association of Realtors.
That demand has pushed the supply of homes for sale down 8.5% annually to the lowest level since the Realtors began tracking inventory in 1982.
At the current sales pace, the total supply would sell out in just three months.
A six months’ supp
Supply of homes for sale hits record low, and prices suddenly jump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: diana olick, in dianaolick
Keywords: news, cnbc, companies, sale, inventory, record, months, jump, worsesales, low, worker, prices, suddenly, homes, yearsthat, hits, supply, pace, tracking, trolling


Supply of homes for sale hits record low, and prices suddenly jump

A worker stands on the roof of a home under construction at a new housing development in San Rafael, California.

Buyers are trolling the nation’s neighborhoods looking for homes at the fastest pace in nearly two years, making an already critical shortage of inventory even worse.

Sales of existing homes rose a steeper-than-expected 3.5% in December compared with January, according to the National Association of Realtors.

Demand is surging because mortgage rates are about a full percentage point lower than they were a year ago, and the largest generation, millennials, are aging into their homebuying years.

That demand has pushed the supply of homes for sale down 8.5% annually to the lowest level since the Realtors began tracking inventory in 1982.

At the current sales pace, the total supply would sell out in just three months. A six months’ supply is considered a balanced market.


Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: diana olick, in dianaolick
Keywords: news, cnbc, companies, sale, inventory, record, months, jump, worsesales, low, worker, prices, suddenly, homes, yearsthat, hits, supply, pace, tracking, trolling


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Industrials at record highs, and four stocks could be best chance to play catch-up

The XLI industrials ETF, which includes Boeing and Honeywell, notched record highs on Friday for the second day in a row. The ETF is also up more than 3% this month in one of the top performances in the S&P 500. Craig Johnson, chief market technician at Piper Sandler, likes the group as a whole but says one stock stands out. “Look at stocks inside of [the XLI], take a look at the chart of 3M. Textron, Lockheed and Northrop have all outperformed the market this month.


The XLI industrials ETF, which includes Boeing and Honeywell, notched record highs on Friday for the second day in a row.
The ETF is also up more than 3% this month in one of the top performances in the S&P 500.
Craig Johnson, chief market technician at Piper Sandler, likes the group as a whole but says one stock stands out.
“Look at stocks inside of [the XLI], take a look at the chart of 3M.
Textron, Lockheed and Northrop have all outperformed the market this month.
Industrials at record highs, and four stocks could be best chance to play catch-up Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: keris lahiff
Keywords: news, cnbc, companies, xli, lockheed, look, textron, northrop, stock, chance, space, trading, highs, catchup, stocks, record, industrials, best, market, play


Industrials at record highs, and four stocks could be best chance to play catch-up

Industrials are having an industrial-sized rally.

The XLI industrials ETF, which includes Boeing and Honeywell, notched record highs on Friday for the second day in a row. The ETF is also up more than 3% this month in one of the top performances in the S&P 500.

Craig Johnson, chief market technician at Piper Sandler, likes the group as a whole but says one stock stands out.

“We’re overweight the industrial sector,” Johnson said on CNBC’s “Trading Nation” on Friday. “Look at stocks inside of [the XLI], take a look at the chart of 3M. If we look at this chart, you can see that the stock looks like it’s making a bottom.”

“From our perspective, we can see it move back to the highs we’ve seen in 2018 and 2019. It’s just about 22% upside from here so we would be a buyer of those shares here,” said Johnson.

Danielle Shay, director of options at Simpler Trading, says any weakness relative to the mark can probably be pegged to the U.S.-China trade war. However, she does see some opportunity in a few names.

“The space within the industrials that’s been very strong is aerospace defense. For that reason, I looked at Textron and even though it’s one of the laggards within the space, I prefer Lockheed. Northrop, I like that one in the long run due to the ongoing geopolitical tensions.”

She is recommending all three. Textron, Lockheed and Northrop have all outperformed the market this month.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: keris lahiff
Keywords: news, cnbc, companies, xli, lockheed, look, textron, northrop, stock, chance, space, trading, highs, catchup, stocks, record, industrials, best, market, play


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History shows Tesla may have a rough go of it from here after stock doubled in 6 months

Robotics arms install the front seats to the Tesla Model 3 at the Tesla factory in Fremont, California, on Thursday, July 26, 2018. Mason Trinca | The Washington Post | Getty ImagesTesla’s winning streak is unlikely to last much longer, Bernstein analysts found after looking through historical data for what happens after large stocks doubled in under six months. Bernstein analyzed 40 years of trading data, looking at stocks with market values over $20 billion. With Tesla shares up more than 100%


Robotics arms install the front seats to the Tesla Model 3 at the Tesla factory in Fremont, California, on Thursday, July 26, 2018.
Mason Trinca | The Washington Post | Getty ImagesTesla’s winning streak is unlikely to last much longer, Bernstein analysts found after looking through historical data for what happens after large stocks doubled in under six months.
Bernstein analyzed 40 years of trading data, looking at stocks with market values over $20 billion.
With Tesla shares up more than 100%
History shows Tesla may have a rough go of it from here after stock doubled in 6 months Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: michael sheetz
Keywords: news, cnbc, companies, stock, history, record, months, stocks, doubled, large, tech, shares, looking, tesla, rough, bernstein, trading, shows


History shows Tesla may have a rough go of it from here after stock doubled in 6 months

Robotics arms install the front seats to the Tesla Model 3 at the Tesla factory in Fremont, California, on Thursday, July 26, 2018. Mason Trinca | The Washington Post | Getty Images

Tesla’s winning streak is unlikely to last much longer, Bernstein analysts found after looking through historical data for what happens after large stocks doubled in under six months. Bernstein analyzed 40 years of trading data, looking at stocks with market values over $20 billion. With Tesla shares up more than 100% in the last six months, the firm wanted to help give investors a better idea of where the stock was headed – even as Elon Musk’s electric car maker is almost rising to new record high levels daily. “The track record is mixed – on average, large caps that doubled in the last 6 months subsequently saw a forward 6-month absolute return of just 2.6%,” Bernstein analyst Toni Sacconaghi wrote in a note to clients.

The firm excluded time periods of high growth — such as the tech bubble two decades ago or the recovery from the Great Recession — in analyzing stocks that double in under six months. On average, Bernstein found this happened three times a year. Despite Bernstein’s mediocre outlook, Tesla shares rose 7% in Tuesday trading to close at $547.20.

A tech phenomenon


Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: michael sheetz
Keywords: news, cnbc, companies, stock, history, record, months, stocks, doubled, large, tech, shares, looking, tesla, rough, bernstein, trading, shows


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‘Bad Boys For Life’ breaks January box office record, ‘Dolittle’ meets expectations

Will Smith and Martin Lawrence star in “Bad Boys For Life.” “Bad Boys For Life,” the third installment in the “Bad Boys” film franchise nabbed $59.1 million during its domestic debut, the highest opening of any new release in the month of January. For the full holiday weekend, Sony expects “Bad Boys for Life” to garner $68.1 million in North America. “Dolittle” is expected to sell another $7.5 million in ticket sales Monday and “1917” is expected to sell another $5 million. As of Sunday, the 202


Will Smith and Martin Lawrence star in “Bad Boys For Life.”
“Bad Boys For Life,” the third installment in the “Bad Boys” film franchise nabbed $59.1 million during its domestic debut, the highest opening of any new release in the month of January.
For the full holiday weekend, Sony expects “Bad Boys for Life” to garner $68.1 million in North America.
“Dolittle” is expected to sell another $7.5 million in ticket sales Monday and “1917” is expected to sell another $5 million.
As of Sunday, the 202
‘Bad Boys For Life’ breaks January box office record, ‘Dolittle’ meets expectations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-19  Authors: sarah whitten
Keywords: news, cnbc, companies, record, dolittle, boys, smith, life, million, box, weekend, star, sell, release, 1917, office, bad, expectations, meets, breaks


'Bad Boys For Life' breaks January box office record, 'Dolittle' meets expectations

Will Smith and Martin Lawrence star in “Bad Boys For Life.”

It was a battle between reboots this weekend at the box office and the tag team of Will Smith and Martin Lawrence came out on top.

“Bad Boys For Life,” the third installment in the “Bad Boys” film franchise nabbed $59.1 million during its domestic debut, the highest opening of any new release in the month of January.

Previously, “Ride Along” held that title with a $41.5 million opening in 2014, according to data from Comscore.

“American Sniper” garnered $89.3 million during its wide release in 2014, but it had previously been released in a limited capacity, so it doesn’t count as a new release.

For the full holiday weekend, Sony expects “Bad Boys for Life” to garner $68.1 million in North America.

Universal’s “Dolittle” and “1917” were the second and third-highest grossing films of the weekend. “Dolittle” grabbed and estimated $22.5 million through Sunday and “1917” held strong with $22.1 million.

“Dolittle” is expected to sell another $7.5 million in ticket sales Monday and “1917” is expected to sell another $5 million.

Additionally, “Frozen II” added another $3.7 million domestically; “Star Wars: The Rise of Skywalker” added $8.4 million; “Little Women” took in $5.9 million and “Jumanji: The Next Level” garnered $9.5 million.

As of Sunday, the 2020 box office has reached $642.3 million, up 11.9% from the start of the 2019 box office.

Disclosure: Comcast is the parent company of NBCUniversal and CNBC.


Company: cnbc, Activity: cnbc, Date: 2020-01-19  Authors: sarah whitten
Keywords: news, cnbc, companies, record, dolittle, boys, smith, life, million, box, weekend, star, sell, release, 1917, office, bad, expectations, meets, breaks


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A ‘boring’ economy is setting stocks up for a winning year, Barclays top economist says

“We’re kind of sitting at a trend-like outlook where growth is around 2% this year,” he told CNBC’s “Trading Nation” on Friday. I kind of think a boring U.S. outlook is actually pretty good for risk assets.” “With the Fed committed to being on the sideline, I think that’s what’s helping equity markets move higher.” So far this year, the Dow has seen seven all-time highs while the S&P has seen nine. Overall, Gapen predicts the market will hold on to record gains and have another winning year.


“We’re kind of sitting at a trend-like outlook where growth is around 2% this year,” he told CNBC’s “Trading Nation” on Friday.
I kind of think a boring U.S. outlook is actually pretty good for risk assets.”
“With the Fed committed to being on the sideline, I think that’s what’s helping equity markets move higher.”
So far this year, the Dow has seen seven all-time highs while the S&P has seen nine.
Overall, Gapen predicts the market will hold on to record gains and have another winning year.
A ‘boring’ economy is setting stocks up for a winning year, Barclays top economist says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-19  Authors: stephanie landsman
Keywords: news, cnbc, companies, seen, stocks, outlook, think, sideline, boring, risk, setting, record, gapen, economy, trendlike, winning, barclays, trading, economist


A 'boring' economy is setting stocks up for a winning year, Barclays top economist says

Top Wall Street economist Michael Gapen believes the market’s record rally has stamina.

The Barclays head of U.S. economics research cites a calm economic backdrop as a major driver.

“We’re kind of sitting at a trend-like outlook where growth is around 2% this year,” he told CNBC’s “Trading Nation” on Friday. “It’s a very benign outlook. In some ways, it’s boring. I kind of think a boring U.S. outlook is actually pretty good for risk assets.”

Gapen’s enthusiasm is chiefly due to a reduction in risk factors stemming from the signing of the U.S.-China phase-one trade deal and the positive impact the U.K. election will likely have on Brexit.

But there’s one more vital ingredient keeping stocks in record high territory: Monetary policy. Gapen thinks it’s virtually impossible the Federal Reserve will hike interest rates this year.

“The key is the Fed is on the sideline,” he said. “With the Fed committed to being on the sideline, I think that’s what’s helping equity markets move higher.”

With just 12 trading days in the books for 2020, the Dow and S&P 500 are up 3% this year. So far this year, the Dow has seen seven all-time highs while the S&P has seen nine.

Overall, Gapen predicts the market will hold on to record gains and have another winning year.

“Our steady-ish as she goes trend-like outlook would be consistent, with say, equity market performance of around 8% to 9% this year given where we expect earnings growth to be,” Gapen said.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2020-01-19  Authors: stephanie landsman
Keywords: news, cnbc, companies, seen, stocks, outlook, think, sideline, boring, risk, setting, record, gapen, economy, trendlike, winning, barclays, trading, economist


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A theory on who’s doing all the buying that’s pushing stocks higher and higher

The largest group of U.S. institutional investors are the state and municipal pension plans. An increase of a few percentage points in long-only equity allocation would certainly help drive stocks higher. Unfortunately, my theory about public plans was unilaterally incorrect; state pension directors are doing the exact opposite and continue to reduce their domestic equity exposure. Sovereign funds, another well-heeled cohort, have been increasing their private equity allocations, generally at th


The largest group of U.S. institutional investors are the state and municipal pension plans.
An increase of a few percentage points in long-only equity allocation would certainly help drive stocks higher.
Unfortunately, my theory about public plans was unilaterally incorrect; state pension directors are doing the exact opposite and continue to reduce their domestic equity exposure.
Sovereign funds, another well-heeled cohort, have been increasing their private equity allocations, generally at th
A theory on who’s doing all the buying that’s pushing stocks higher and higher Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-18  Authors: karen firestone
Keywords: news, cnbc, companies, pushing, theory, funds, buying, whos, allocation, doing, thats, record, stocks, equity, private, trillion, pension, plans, public, state, higher


A theory on who's doing all the buying that's pushing stocks higher and higher

The insistent refrain “new all-time record” has been played so often recently that it sounds like a broken record. For readers born after the age of vinyl, the term refers to when the needle gets stuck in a groove, repeating a phrase over and over until you either move the arm or throw the record at a wall in disgust. Given a series of new highs for the S&P 500, the Dow Jones Industrial Average and the Nasdaq, the obvious question is who is doing all this buying? My first assumption was that investors, whose portfolios lagged because of their lack of U.S. equity exposure through a triumphant 31.5% year for the S&P, might be jumping on board. The largest group of U.S. institutional investors are the state and municipal pension plans. To get a sense their scale, consider that the California and New York state funds contain close to $600 billion combined, with the nationwide system comprising over $4 trillion in assets. An increase of a few percentage points in long-only equity allocation would certainly help drive stocks higher. Unfortunately, my theory about public plans was unilaterally incorrect; state pension directors are doing the exact opposite and continue to reduce their domestic equity exposure. According to several contacts within government pension offices, the typical U.S. public plan has been reducing its allocation to long-only U.S. equity for several years, shifting primarily toward private equity. Calpers, for example, carries a 24% weight in domestic equity while the state of Massachusetts was in the teens as of the last reporting period.

Retail traders?

With institutions, including public plans, major endowments, and mutual funds net sellers of U.S. equity, what other groups could account for the steady advance? Retail clients, accounting for 20% or $7 trillion of the total U.S. market ownership, added to their stock portfolios in 2019. According to a Goldman Sachs study, households now have a comparable equity allocation to 2007, only surpassed by the dotcom bubble of 2000, implying that retail buying is an unlikely driver of the current move. Sovereign funds, another well-heeled cohort, have been increasing their private equity allocations, generally at the expense of equities. That leaves two other groups of buyers capable of pushing the averages higher: public corporations themselves and long-short hedge funds. The shrinking of the U.S. equity supply, including buyouts to private equity firms, acquisitions, and share repurchases, is acknowledged as a significant factor contributing to the rise in equity prices. This should continue in 2020, but at an anticipated rate in the $500 billion range, or around half of the 2019 total.

Hedge funds?


Company: cnbc, Activity: cnbc, Date: 2020-01-18  Authors: karen firestone
Keywords: news, cnbc, companies, pushing, theory, funds, buying, whos, allocation, doing, thats, record, stocks, equity, private, trillion, pension, plans, public, state, higher


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European stocks climb as China’s GDP grows as expected; Stoxx 600 hits record high; Casino down 12%

European stocks advanced on Friday after China’s GDP (gross domestic product) numbers grew in line with expectations, lifting global markets. The pan-European Stoxx 600 added 0.7% in early trade to reach a fresh record high, basic resources jumping 1.2% to lead gains as all sectors and major bourses traded in positive territory. Markets in Asia rose on Friday in response to the figures, with Hong Kong’s Hang Seng index adding 0.5% to lead gains. A strong handover from Wall Street, which saw the


European stocks advanced on Friday after China’s GDP (gross domestic product) numbers grew in line with expectations, lifting global markets.
The pan-European Stoxx 600 added 0.7% in early trade to reach a fresh record high, basic resources jumping 1.2% to lead gains as all sectors and major bourses traded in positive territory.
Markets in Asia rose on Friday in response to the figures, with Hong Kong’s Hang Seng index adding 0.5% to lead gains.
A strong handover from Wall Street, which saw the
European stocks climb as China’s GDP grows as expected; Stoxx 600 hits record high; Casino down 12% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: elliot smith
Keywords: news, cnbc, companies, grew, trade, sales, high, stoxx, climb, hong, european, major, lead, strong, hits, positive, gdp, expected, record, stocks, grows, richemont


European stocks climb as China's GDP grows as expected; Stoxx 600 hits record high; Casino down 12%

European stocks advanced on Friday after China’s GDP (gross domestic product) numbers grew in line with expectations, lifting global markets.

The pan-European Stoxx 600 added 0.7% in early trade to reach a fresh record high, basic resources jumping 1.2% to lead gains as all sectors and major bourses traded in positive territory.

The world’s second-largest economy grew by 6.1% in 2019, its slowest in 29 years but meeting analyst expectations even amid the protracted trade war with the U.S., which reached a truce this week after Washington and Beijing signed an initial “phase one” trade deal.

Markets in Asia rose on Friday in response to the figures, with Hong Kong’s Hang Seng index adding 0.5% to lead gains. A strong handover from Wall Street, which saw the S&P 500 hit record highs on Thursday following a host of strong earnings reports from major banks, also offered positive momentum.

In corporate news, Swiss luxury goods giant Richemont on Friday reported a slowdown in sales growth as political unrest in Hong Kong weighed on its fourth-quarter turnover. Richemont shares climbed 4.9% in early trade.

Volkswagen CEO Herbert Diess said on Thursday that the German carmaker must accelerate urgent reforms to its business in order to avoid the same fate as Nokia, which relinquished its handset market dominance to Apple, Reuters reported.

Investors will also be monitoring key December inflation data and November construction output figures out of the euro area, due at 10 a.m. London time on Friday. U.K. retail sales are due at 9:30 a.m.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: elliot smith
Keywords: news, cnbc, companies, grew, trade, sales, high, stoxx, climb, hong, european, major, lead, strong, hits, positive, gdp, expected, record, stocks, grows, richemont


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Epic Systems, a major medical records vendor, is warning customers it will stop working with Google Cloud

Account representatives from Epic Systems, one of the largest providers of medical record systems, have started calling customers with a clear message: We will not be pursuing further integrations with Google Cloud. They said the company decided to halt development with Google Cloud because it wasn’t seeing sufficient interest among its health system customers to warrant the investment. Privately held Epic is one of the largest electronic medical record companies in the U.S. The move comes as Go


Account representatives from Epic Systems, one of the largest providers of medical record systems, have started calling customers with a clear message: We will not be pursuing further integrations with Google Cloud.
They said the company decided to halt development with Google Cloud because it wasn’t seeing sufficient interest among its health system customers to warrant the investment.
Privately held Epic is one of the largest electronic medical record companies in the U.S.
The move comes as Go
Epic Systems, a major medical records vendor, is warning customers it will stop working with Google Cloud Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: christina farr
Keywords: news, cnbc, companies, major, largest, record, medical, stop, warning, epic, company, customers, working, systems, records, health, vendor, cloud, google


Epic Systems, a major medical records vendor, is warning customers it will stop working with Google Cloud

Account representatives from Epic Systems, one of the largest providers of medical record systems, have started calling customers with a clear message: We will not be pursuing further integrations with Google Cloud.

Epic’s reps told customers the company would instead focus its energies on Amazon Web Services and Microsoft Azure. They said the company decided to halt development with Google Cloud because it wasn’t seeing sufficient interest among its health system customers to warrant the investment.

The calls have come in the past few weeks, said three people with knowledge of the matter, and were directed to Epic’s hospital customers that use Google’s cloud-based technology either for medical research, data storage or for their basic IT operations, including file-sharing. These people declined to be named because they were not authorized to speak for their organizations on the matter.

Privately held Epic is one of the largest electronic medical record companies in the U.S. It sells its products, which include a digital equivalent of the traditional doctor’s paper medical chart as well as billing tools, into the largest hospital systems in the U.S. Epic installations are major undertakings, and can end up costing billions of dollars overall. Once installed, they become a core part of a hospital’s information systems and are seldom dislodged.

Epic’s decision is a blow to Google’s efforts to find new customer segments for its cloud products, as the company lags well behind Amazon Web Services and Microsoft Azure in market share for cloud computing. The company is hoping to catch up by landing big-name customers such as Mayo Clinic, and by stressing its artificial intelligence and machine-learning capabilities.

The move comes as Google is facing criticism from privacy advocates about its work with Ascension, one of the largest U.S. health systems. The news broke that a small number of Google employees had access to Ascension patients’ protected health information after the two organizations signed a deal to move health information into Google’s servers. Google has subsequently said that it is “super proud” of this work with Ascension, and that it hopes to leverage the data for good to develop technologies to detect disease earlier, as well as a tool for doctors and nurses to more easily search their medical record systems, including Epic.

Epic declined to comment on Google or any other vendor specifically but said it considers several factors when deciding which third-party technology providers to support.

“We invest substantial time and engineering effort in evaluating and understanding the infrastructure Epic runs on. Scalability, reliability, and security are important factors we consider when evaluating these underlying technologies,” said Epic’s vice president of research and development, Seth Hain, in a statement. He said Epic focuses on supporting “infrastructure the Epic community uses today and is likely to use in the future.”

A spokesperson for Google Cloud declined to comment on the relationship with Epic.

One of the health system customers who got the call said this could impact their data sharing and aggregation efforts going forward. This person said medical records providers such as Epic and its chief rival, Cerner, are picky with data-sharing standards, and withdrawing support for Google would make it risky for the hospital system to keep using it.

Epic isn’t alone in its move.

The Wall Street Journal recently reported that Cerner decided against pursuing a data-storage relationship with Google despite being offered tens of millions of dollars in incentives. The company was on the hunt for a cloud vendor to help it store 250 million patient medical records. In the end, Cerner went with Amazon.

“We’ve historically seen hospital systems make these decisions independently of their medical record provider,” said Aneesh Chopra, the president of health-technology company CareJourney and the former chief technology officer of the United States. “It will be interesting to see if Epic’s thumb on the scale moves cloud market share.”


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: christina farr
Keywords: news, cnbc, companies, major, largest, record, medical, stop, warning, epic, company, customers, working, systems, records, health, vendor, cloud, google


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Here’s what happened to the stock market on Friday

The major averages closed out a strong week with slight gains amid strong economic data and earnings results. Meanwhile, 72% of the S&P 500 companies that have reported thus far have beaten analyst expectations, FactSet data shows. To be sure, the recent run-up in stocks has led some investors to worry the market may be getting ahead of itself. Boeing and JB Hunt shares slideBoeing shares dropped 2.36% after news broke that of the aircraft manufacturer’s beleaguered 737 Max plane was experiencin


The major averages closed out a strong week with slight gains amid strong economic data and earnings results.
Meanwhile, 72% of the S&P 500 companies that have reported thus far have beaten analyst expectations, FactSet data shows.
To be sure, the recent run-up in stocks has led some investors to worry the market may be getting ahead of itself.
Boeing and JB Hunt shares slideBoeing shares dropped 2.36% after news broke that of the aircraft manufacturer’s beleaguered 737 Max plane was experiencin
Here’s what happened to the stock market on Friday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: fred imbert
Keywords: news, cnbc, companies, week, data, record, happened, industrial, market, shares, expectations, hunt, heres, strong, stock


Here's what happened to the stock market on Friday

Traders work the floor at the NYSE . Brendan McDermid | Reuters

Dow Jones Industrial Average rises 50 points

The Dow gained 50.46 points, or 0.17%, to close at 29,348.10. The S&P 500 climbed 0.39% to 3,329.62. The Nasdaq Composite advanced 0.34% to end the day at 9,388.94. The major averages closed out a strong week with slight gains amid strong economic data and earnings results.

More record highs

Wall Street ended the week with fresh record highs after the release of solid China and U.S. economic data while the corporate earnings season is off to a good start. China’s industrial production came in well ahead of expectations while December U.S. housing starts surged nearly 17%. Meanwhile, 72% of the S&P 500 companies that have reported thus far have beaten analyst expectations, FactSet data shows. To be sure, the recent run-up in stocks has led some investors to worry the market may be getting ahead of itself.

Boeing and JB Hunt shares slide

Boeing shares dropped 2.36% after news broke that of the aircraft manufacturer’s beleaguered 737 Max plane was experiencing a new software issue. J.B. Hunt, meanwhile, slid 4.24% on the back of disappointing quarterly results.

What happens next?


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: fred imbert
Keywords: news, cnbc, companies, week, data, record, happened, industrial, market, shares, expectations, hunt, heres, strong, stock


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