US stock futures slightly higher on hopes of a smaller Fed rate cut

U.S. stock index futures were mixed on Monday morning as expectations of aggressive policy easing from the Federal Reserve dampen. ET, Dow futures were 27 points higher and pointed to an implied positive open of around 14 points. Futures on the S&P 500 and Nasdaq were also marginally higher. Market focus is heavily attuned to the U.S. central bank as hopes of a 50 basis point cut to interest rates at its Federal Open Market Committee (FOMC) meeting wane. The Science and Technology Innovation Boa


U.S. stock index futures were mixed on Monday morning as expectations of aggressive policy easing from the Federal Reserve dampen. ET, Dow futures were 27 points higher and pointed to an implied positive open of around 14 points. Futures on the S&P 500 and Nasdaq were also marginally higher. Market focus is heavily attuned to the U.S. central bank as hopes of a 50 basis point cut to interest rates at its Federal Open Market Committee (FOMC) meeting wane. The Science and Technology Innovation Boa
US stock futures slightly higher on hopes of a smaller Fed rate cut Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: elliot smith
Keywords: news, cnbc, companies, higher, stock, sp, hopes, rate, reporting, slightly, saw, point, open, cut, fed, meeting, smaller, market, nasdaq, points, futures


US stock futures slightly higher on hopes of a smaller Fed rate cut

U.S. stock index futures were mixed on Monday morning as expectations of aggressive policy easing from the Federal Reserve dampen.

At around 2:30 a.m. ET, Dow futures were 27 points higher and pointed to an implied positive open of around 14 points. Futures on the S&P 500 and Nasdaq were also marginally higher.

Market focus is heavily attuned to the U.S. central bank as hopes of a 50 basis point cut to interest rates at its Federal Open Market Committee (FOMC) meeting wane. A Wall Street Journal report on Friday suggested a more cautious 25 basis point cut is likely following comments from several senior Fed officials..

Friday saw the S&P 500 and Nasdaq fall 1% each to close at their biggest weekly losses since late May, while the Dow lost 0.6%, after the indexes had notched all-time highs earlier in the week.

China’s new Nasdaq-style tech index began trading on Monday amid a flurry of buying from investors. The Science and Technology Innovation Board, or STAR Market, saw shares of the 25 companies listed soaring from the outset.

Earnings season stateside remains in focus, with Halliburton, Royal Philips and RPM International reporting before the bell on Monday. Whirlpool and TD Ameritrade are among those reporting after the bell.

Investors will also have one eye on geopolitical developments, as Britain weighs its options after the Iranian military seized a British oil tanker. Outgoing Prime Minister Theresa May will chair an emergency response committee meeting on Monday to discuss the crisis.

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Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: elliot smith
Keywords: news, cnbc, companies, higher, stock, sp, hopes, rate, reporting, slightly, saw, point, open, cut, fed, meeting, smaller, market, nasdaq, points, futures


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The market has a technical problem, making it ‘vulnerable’ to a rapid sell-off, JP Morgan says

Danger is lurking in the stock market: A monster sell-off could be around the corner if the Federal Reserve doesn’t deliver the rate cut the market expects next week. That is because the market’s so-called depth has become so shallow that it is increasingly vulnerable to exacerbated moves, according to J.P. Morgan. Market depth here is measured by the volume of orders on the bid and ask sides for the S&P 500 E-mini futures contract. “In our mind, this persistently low market depth leaves U.S. eq


Danger is lurking in the stock market: A monster sell-off could be around the corner if the Federal Reserve doesn’t deliver the rate cut the market expects next week. That is because the market’s so-called depth has become so shallow that it is increasingly vulnerable to exacerbated moves, according to J.P. Morgan. Market depth here is measured by the volume of orders on the bid and ask sides for the S&P 500 E-mini futures contract. “In our mind, this persistently low market depth leaves U.S. eq
The market has a technical problem, making it ‘vulnerable’ to a rapid sell-off, JP Morgan says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: yun li
Keywords: news, cnbc, companies, 500, vulnerable, problem, market, selloff, weekthe, making, sp, rapid, jp, analyst, technical, depth, low, morgan


The market has a technical problem, making it 'vulnerable' to a rapid sell-off, JP Morgan says

Danger is lurking in the stock market: A monster sell-off could be around the corner if the Federal Reserve doesn’t deliver the rate cut the market expects next week.

That is because the market’s so-called depth has become so shallow that it is increasingly vulnerable to exacerbated moves, according to J.P. Morgan. Market depth here is measured by the volume of orders on the bid and ask sides for the S&P 500 E-mini futures contract. A “deep” market is able to prevent a large order from moving prices significantly.

“In our mind, this persistently low market depth leaves U.S. equities vulnerable from here if central banks fail to validate market expectations or U.S. recession risks resurface,” J.P. Morgan analyst Nikolaos Panigirtzoglou said in a note to clients last week.

The S&P 500 has risen a stellar 19% this year, but the strong performance has been accompanied by light inflows and trading activity as well as low market liquidity, the analyst pointed out. The average market depth has been close to historical lows, he said.


Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: yun li
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NASA is considering this inflatable space habitat for its return to the moon

What to watch in markets for the week aheadMore than a quarter of the S&P 500 companies report earnings in the week ahead, and that could buffet the market as investors await the Fed’s meeting at the end of the month. Market Insiderread more


What to watch in markets for the week aheadMore than a quarter of the S&P 500 companies report earnings in the week ahead, and that could buffet the market as investors await the Fed’s meeting at the end of the month. Market Insiderread more
NASA is considering this inflatable space habitat for its return to the moon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: brian clark
Keywords: news, cnbc, companies, meeting, markets, considering, monthmarket, investors, return, market, nasa, habitat, report, watch, space, inflatable, sp, quarter, week, moon


NASA is considering this inflatable space habitat for its return to the moon

What to watch in markets for the week ahead

More than a quarter of the S&P 500 companies report earnings in the week ahead, and that could buffet the market as investors await the Fed’s meeting at the end of the month.

Market Insider

read more


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: brian clark
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European Central Bank set for a rate cut in September, economists predict

The European Central Bank (ECB) will next week open the door to an interest rate cut for September, economists have predicted. The deposit facility rate defines the interest banks receive for depositing money with the central bank overnight, and has been negative since June 2014. The current ECB interest rates on its main refinancing operations, marginal lending facility and deposit facility sit at 0%, 0.25% and -0.40% respectively. Against the backdrop of a global slowdown and weak inflationary


The European Central Bank (ECB) will next week open the door to an interest rate cut for September, economists have predicted. The deposit facility rate defines the interest banks receive for depositing money with the central bank overnight, and has been negative since June 2014. The current ECB interest rates on its main refinancing operations, marginal lending facility and deposit facility sit at 0%, 0.25% and -0.40% respectively. Against the backdrop of a global slowdown and weak inflationary
European Central Bank set for a rate cut in September, economists predict Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: elliot smith
Keywords: news, cnbc, companies, european, cut, ecb, guidance, interest, sp, central, bank, rate, rates, economists, inflation, predict, set, manufacturing


European Central Bank set for a rate cut in September, economists predict

The European Central Bank (ECB) will next week open the door to an interest rate cut for September, economists have predicted.

The ECB’s Governing Council is set to meet next Thursday in Frankfurt after euro zone inflation data for June came in higher than expected this week at 1.3%, but remained well below the central bank’s target rate of just below 2%.

The ECB is juggling political uncertainty and an economy sluggishly battling external weaknesses, which have led to a dovish tone of late from its President Mario Draghi.

S&P Global Ratings economists Marion Amiot and Sylvain Broyer expect the ECB to cut its deposit rate by 10 basis points following its September meeting, and potentially resume quantitative easing (QE) in the form of 15 billion euros ($16.85 billion) in asset purchases in October. The deposit facility rate defines the interest banks receive for depositing money with the central bank overnight, and has been negative since June 2014.

“The European economy is still evolving at low gear and two speeds, with robust service activity on the one side but no obvious recovering in manufacturing on the other,” Amiot and Broyer said in a note Thursday.

The German and Italian economies, considered Europe’s premier manufacturing powerhouses, are hovering close to recessionary territory and remain susceptible to several external risks, such as Brexit, the U.S.-China trade war, Iran, a Chinese economic slowdown and potential U.S. tariffs on European car imports.

The S&P economists project that manufacturing weakness is likely to weigh on the robust service sector, suggesting we could see “more downward revisions to growth and inflation forecasts this year.”

The current ECB interest rates on its main refinancing operations, marginal lending facility and deposit facility sit at 0%, 0.25% and -0.40% respectively. Against the backdrop of a global slowdown and weak inflationary pressures, S&P expects the ECB to adjust its forward guidance next Thursday to accommodate a rate cut of 10 basis points (bps) in September.

“A downward bias would allow the ECB to cut rates as soon as September 2019, if the euro strengthens on looser policy by the U.S. Federal Reserve System and market-based inflation expectations do not increase markedly from their current lows,” the note explained.

It added that because the ECB lengthened the timeframe of its forward guidance by one year in June, this meeting would be too early to alter that aspect of the guidance again. However, S&P anticipates that the ECB will “have more work to do in the future on its communication” given the slow development of the euro zone economy.

Amiot and Broyer do not expect the central bank to be able to raise rates again until at least the second quarter of 2021.


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: elliot smith
Keywords: news, cnbc, companies, european, cut, ecb, guidance, interest, sp, central, bank, rate, rates, economists, inflation, predict, set, manufacturing


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US stock futures were little changed as earnings and trade fears weigh

U.S. stock index futures were nearly flat Thursday morning as earnings season gathers momentum. ET, Dow futures indicated an implied positive open of less than 5 points, while the S&P 500 and Nasdaq also pointed to lower opens. As earnings season kicks into full gear, Railroad giant CSX posted weaker-than-forecast quarterly results on Wednesday, sending its stock plummeting, while Bank of America reported better-than-expected earnings but warned that lower rates would hit its net interest income


U.S. stock index futures were nearly flat Thursday morning as earnings season gathers momentum. ET, Dow futures indicated an implied positive open of less than 5 points, while the S&P 500 and Nasdaq also pointed to lower opens. As earnings season kicks into full gear, Railroad giant CSX posted weaker-than-forecast quarterly results on Wednesday, sending its stock plummeting, while Bank of America reported better-than-expected earnings but warned that lower rates would hit its net interest income
US stock futures were little changed as earnings and trade fears weigh Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: elliot smith
Keywords: news, cnbc, companies, fears, earnings, sp, lower, season, trade, reported, giant, stock, futures, changed, little, weigh, bank


US stock futures were little changed as earnings and trade fears weigh

U.S. stock index futures were nearly flat Thursday morning as earnings season gathers momentum.

Around 7 a.m. ET, Dow futures indicated an implied positive open of less than 5 points, while the S&P 500 and Nasdaq also pointed to lower opens.

Stocks closed at the day’s lows Wednesday after The Wall Street Journal reported that trade negotiations between the U.S. and China had faltered over restrictions on Chinese telecommunications giant Huawei, citing sources familiar with the talks.

This came after President Donald Trump on Tuesday made skeptical comments about the possibility of an imminent resolution to the ongoing trade war between the world’s two largest economies.

As earnings season kicks into full gear, Railroad giant CSX posted weaker-than-forecast quarterly results on Wednesday, sending its stock plummeting, while Bank of America reported better-than-expected earnings but warned that lower rates would hit its net interest income growth.

Both United Airlines and Cintas also beat expectations, indicating that the bleak outlook offered at the beginning of earnings season might have been overly pessimistic. However, only around 7% of S&P 500 companies have reported second-quarter earnings thus far, according to FactSet data.

Another flurry of earnings is due Thursday, with Morgan Stanley, UnitedHealth, Union Pacific, SunTrust, and M&T Bank reporting before the bell, while Microsoft is set to report after the bell.

—CNBC’s Fred Imbert contributed to this report.

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Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: elliot smith
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After a great start to earnings season, overall profits are no longer expected to decline

The earnings season began this week, with 43 S&P 500 companies reporting as of Wednesday morning, and a whopping 84% beating analysts’ estimates. Refinitiv’s S&P 500 earnings growth forecast had been negative 0.3% at one point, but with the actual reports and forecasts for the rest of the S&P, second-quarter earnings look set to grow about 0.4%, a number that could continue to rise. The stock market, meanwhile, has traded sideways to slightly lower on thin volume this week, as earnings rolled ou


The earnings season began this week, with 43 S&P 500 companies reporting as of Wednesday morning, and a whopping 84% beating analysts’ estimates. Refinitiv’s S&P 500 earnings growth forecast had been negative 0.3% at one point, but with the actual reports and forecasts for the rest of the S&P, second-quarter earnings look set to grow about 0.4%, a number that could continue to rise. The stock market, meanwhile, has traded sideways to slightly lower on thin volume this week, as earnings rolled ou
After a great start to earnings season, overall profits are no longer expected to decline Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: patti domm
Keywords: news, cnbc, companies, expected, season, earnings, companies, think, 500, great, week, market, start, bell, profits, longer, sp, secondquarter, stock, decline, overall


After a great start to earnings season, overall profits are no longer expected to decline

Traders and financial professionals work at the opening bell on the floor of the New York Stock Exchange. Drew Angerer | Getty Images

Corporate earnings forecasts for the second quarter were lowered so much that companies are easily beating them, and expectations for negative profit growth are already expected to turn positive, after just the first several dozen reports. The earnings season began this week, with 43 S&P 500 companies reporting as of Wednesday morning, and a whopping 84% beating analysts’ estimates. Refinitiv’s S&P 500 earnings growth forecast had been negative 0.3% at one point, but with the actual reports and forecasts for the rest of the S&P, second-quarter earnings look set to grow about 0.4%, a number that could continue to rise. Actual reported earnings of the 9% of the S&P that have reported are up 8.8%. “No matter what the economic circumstances are, no matter what the backdrop is, there’s this dynamic that companies like to lowball and analysts like to give them headroom,” said Ed Keon, chief investment strategist at QMA. “The fact that numbers are coming in better than expected — it’s been the case for decades now.” The stock market, meanwhile, has traded sideways to slightly lower on thin volume this week, as earnings rolled out. “After such a great run and the summer doldrums, I wouldn’t be surprised to see a modest pullback here. I guess the way to think about it is we’re a little cautious, but we think stock prices will work higher over the course of the year,” said Keon.

Will the good trend continue?

The S&P 500 is up about 19.5% for the year so far, and for July, it is up 1.8% after a 7% gain in the month of June. “I think the market should kind of digest things,” said CFRA investment strategist Lindsey Bell. “Second quarter is pretty good so far. It’s still fairly early in the earnings season. I think the managers are being fairly cautious as they provide guidance for the rest of the year.” But Bell said the market may not continue to take all earnings reports in stride and could sell off when industrial companies begin to report. Those companies could discuss the negative impact of trade wars on profits and revenues, like Fastenal did last week when it said its price increases could not offset higher costs. “As we get more industrials in the next couple of weeks, I think that will create more volatility and drive the market lower in the near term. You look at CSX’s end market, and its autos, chemicals and metals. Chemicals and metals are two areas where I expect pressure,” she said. She added that industrials had rallied along with the market in the last month. Railroad company CSX reported lower-than-expected profits Tuesday afternoon, and its revenues fell short, declining to $3.06 billion from $3.1 billion. Its stock plunged more than 10% Wednesday after it lowered its guidance and its CEO, James Foote, blamed its performance on economic conditions, saying, “the present economic backdrop is one of the most puzzling I have experienced in my career.” “I think you’re going to see that third-quarter numbers come down and the fourth-quarter will come down. Second-quarter were lowered enough,” said Bell. She noted that S&P Capital IQ is now expecting a decline of just over 1% in second-quarter S&P 500 profits, from an earlier 2% decline. “The beats from the banks have been pretty solid. I think we’re going to get closer to 2 to 2.5% positive growth in the second quarter.”

Tech earnings ahead


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: patti domm
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Dow drops 100 points as stocks fall for second day on concern about earnings

Stocks fell on Wednesday as the corporate earnings season rolled on with companies like CSX and Bank of America releasing their quarterly numbers. CSX posted Tuesday after the close weaker-than-forecast quarterly results, sending its stock down more than 10%, its biggest one-day drop since 2008. United Airlines, meanwhile, reported earnings and revenue that topped analyst expectations and increased its share buyback program by $3 billion. More than 7% of S&P 500 companies have reported second-qu


Stocks fell on Wednesday as the corporate earnings season rolled on with companies like CSX and Bank of America releasing their quarterly numbers. CSX posted Tuesday after the close weaker-than-forecast quarterly results, sending its stock down more than 10%, its biggest one-day drop since 2008. United Airlines, meanwhile, reported earnings and revenue that topped analyst expectations and increased its share buyback program by $3 billion. More than 7% of S&P 500 companies have reported second-qu
Dow drops 100 points as stocks fall for second day on concern about earnings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: fred imbert
Keywords: news, cnbc, companies, growth, quarterly, earnings, points, concern, companies, stocks, day, drops, revenue, second, reported, fall, sp, posted, results, stock, 100, dow


Dow drops 100 points as stocks fall for second day on concern about earnings

Stocks fell on Wednesday as the corporate earnings season rolled on with companies like CSX and Bank of America releasing their quarterly numbers.

The Dow Jones Industrial Average dropped 115 points, or 0.4%. The S&P 500 slid 0.7%. The Nasdaq Composite closed 0.5% lower.

Stocks closed at their lows of the day just after the Wall Street Journal reported that progress on a trade deal with China are stalled over restrictions on Huawei, citing people familiar with the talks.

Bank of America reported better-than-expected earnings on Wednesday, driven by the strength of its retail banking operation. However, the company’s CFO warned that lower rates would hit its net interest income growth. The stock rose around 0.7%.

CSX posted Tuesday after the close weaker-than-forecast quarterly results, sending its stock down more than 10%, its biggest one-day drop since 2008. The company also said it expects full-year revenue to fall between 1% and 2%. CSX’s decline pushed the Dow Transports down 3.6%.

“It’s shaping up to be a less-than-positive quarter and I doubt managements are going to be terribly optimistic about the rest of the year, although we have easier numbers to go up against,” said Maris Ogg, president at Tower Bridge Advisors.

United Airlines, meanwhile, reported earnings and revenue that topped analyst expectations and increased its share buyback program by $3 billion.

Cintas shares jumped more than 8% after the First Aid kit maker’s results beat expectations.

More than 7% of S&P 500 companies have reported second-quarter earnings thus far, according to FactSet data. Of those companies, about 85% have posted profits that beat analyst expectations. The reported earnings growth of those companies is about 3.1%.


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: fred imbert
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Buying stocks when they are this expensive has led to low returns in the future

But buying stocks when they are this expensive has historically led to lower future returns, data compiled by Ned Davis Research shows. Lower rates make stocks more attractive relative to bonds as it becomes harder to find yield in the bond market. After such a strong gain, “few would be surprised to see that stocks are expensive,” Clissold said. “For that reason, relative valuations provide a starkly different picture than absolute ones,” he added. “Comparing the S&P 500 GAAP earnings yield (in


But buying stocks when they are this expensive has historically led to lower future returns, data compiled by Ned Davis Research shows. Lower rates make stocks more attractive relative to bonds as it becomes harder to find yield in the bond market. After such a strong gain, “few would be surprised to see that stocks are expensive,” Clissold said. “For that reason, relative valuations provide a starkly different picture than absolute ones,” he added. “Comparing the S&P 500 GAAP earnings yield (in
Buying stocks when they are this expensive has led to low returns in the future Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: fred imbert
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Buying stocks when they are this expensive has led to low returns in the future

Stocks recently notched all-time highs and with the Federal Reserve likely cutting rates later this month, the rally could keep going. But buying stocks when they are this expensive has historically led to lower future returns, data compiled by Ned Davis Research shows.

The S&P 500’s price-to-earnings ratio — one of the most widely used valuation metrics — is sitting at 21.5 on a GAAP basis, well within its historical top quintile. The index’s median return over a 10-year period when valuations are so high is 4.7%, when adjusted for inflation. The S&P 500’s median returns when valuations are at lower quintiles range between 5.4% and 11.6%, according to Ned Davis Research.

The market’s historically high valuation comes at a time when many investors are expecting easier Fed policy to further juice gains in 2019. It also comes at a time when stocks are historically cheap relative to bonds. Lower rates make stocks more attractive relative to bonds as it becomes harder to find yield in the bond market.

But with the S&P 500’s absolute valuation being so high, investors should be more cautious moving forward, Ned Davis notes.

“Absolute valuations have done a better job than relative ones of identifying stocks as cheap or expensive in the long run,” Ed Clissold, chief U.S. strategist at Ned Davis Research Group, wrote in a note.

The S&P 500 is up around 20% in 2019 in part because the Fed has pivoted away from its initial stance on rate hikes. Entering 2019, the Fed had forecast it would raise rates twice this year. Since then, the Fed brought down its rate-hike forecast to zero and has increased expectations for lower rates as soon as July.

Fed Chair Jerome Powell reaffirmed those expectations last week. In his testimony to Congress, Powell said “crosscurrents ” stemming from slower economic growth and lingering U.S.-China trade tensions were dampening the U.S.’ outlook on the economy.

Stocks and bonds have rallied side by side as a Fed rate cut becomes more likely. The benchmark 10-year Treasury note yield has fallen nearly 60 basis points in the past six months (yields move inversely to prices). The S&P 500 is up more than 14% in that time.

After such a strong gain, “few would be surprised to see that stocks are expensive,” Clissold said. But “if stocks are so expensive, should investors put their money elsewhere? Central banks have left few options in the fixed income asset class.”

“For that reason, relative valuations provide a starkly different picture than absolute ones,” he added. “Comparing the S&P 500 GAAP earnings yield (inverse of the P/E ratio) to the 10-year Treasury yield, stocks are in the cheapest quintile versus T-notes historically.”

But the strategist points out that one of the key reasons stocks are so cheap relative to bonds is because of the sharp plunge in yields. “With the Fed poised to cut rates on July 31, the prospect for higher rates in the short term is dim, but history cautions against just relying on stocks being less overvalued than bonds.”

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Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: fred imbert
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Stocks fall slightly from records as investors cautious on upcoming earnings reports

Stocks slipped after reaching record highs on Monday as Wall Street remained cautious to start off the corporate earnings season. Citigroup kicked off the earnings season by reporting second-quarter numbersthat topped analyst expectations. Gains from the initial public offering of Tradeweb, an electronic bond trading platform, drove the bank’s results past Wall Street estimates. The outlook for this earnings season is bleak. Analysts expect S&P 500 earnings to have fallen by 3% in the second qua


Stocks slipped after reaching record highs on Monday as Wall Street remained cautious to start off the corporate earnings season. Citigroup kicked off the earnings season by reporting second-quarter numbersthat topped analyst expectations. Gains from the initial public offering of Tradeweb, an electronic bond trading platform, drove the bank’s results past Wall Street estimates. The outlook for this earnings season is bleak. Analysts expect S&P 500 earnings to have fallen by 3% in the second qua
Stocks fall slightly from records as investors cautious on upcoming earnings reports Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: fred imbert
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Stocks fall slightly from records as investors cautious on upcoming earnings reports

Stocks slipped after reaching record highs on Monday as Wall Street remained cautious to start off the corporate earnings season.

The Dow Jones Industrial Average traded 21 points lower, or 0.1%. The S&P 500 also lost 0.1%. The Nasdaq Composite hovered around the flatline. The major indexes notched fresh record highs at the open before pulling back from those levels.

Citigroup kicked off the earnings season by reporting second-quarter numbersthat topped analyst expectations. Gains from the initial public offering of Tradeweb, an electronic bond trading platform, drove the bank’s results past Wall Street estimates. Citigroup shares traded higher in the premarket after the results were released, but traded more than 1% lower shortly after the open.

Other big banks like J.P. Morgan Chase, Morgan Stanley, Bank of America and Goldman Sachs are expected to report quarterly earnings later this week.

The outlook for this earnings season is bleak. Analysts expect S&P 500 earnings to have fallen by 3% in the second quarter, according to FactSet data.


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: fred imbert
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S&P 500 could rise 15% in the second half: Guggenheim’s Scott Minerd

The global chief investment officer at Guggenheim said Monday that he thinks the S&P 500 could rise 15% and approach 3,500 before the end of year, comparing the current market environment to a 1998 rally amid interest rate cuts. And the central banks around the world have basically signaled that they are going to step on the accelerator,” Minerd said. The S&P 500 gained 17% in the first six months of this year, the best first half for the index since 1997. Minerd compared current market conditio


The global chief investment officer at Guggenheim said Monday that he thinks the S&P 500 could rise 15% and approach 3,500 before the end of year, comparing the current market environment to a 1998 rally amid interest rate cuts. And the central banks around the world have basically signaled that they are going to step on the accelerator,” Minerd said. The S&P 500 gained 17% in the first six months of this year, the best first half for the index since 1997. Minerd compared current market conditio
S&P 500 could rise 15% in the second half: Guggenheim’s Scott Minerd Cached Page below :
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S&P 500 could rise 15% in the second half: Guggenheim's Scott Minerd

The global chief investment officer at Guggenheim said Monday that he thinks the S&P 500 could rise 15% and approach 3,500 before the end of year, comparing the current market environment to a 1998 rally amid interest rate cuts.

Scott Minerd said on CNBC’s “Halftime Report ” that the easier monetary policy from the Federal Reserve and central banks around the world would boost stocks before the end of the year.

“This rally — whether you’re looking at bonds, you’re looking at stocks, high yield, pick whatever you want — is all being driven by liquidity. And the central banks around the world have basically signaled that they are going to step on the accelerator,” Minerd said.

The S&P 500 gained 17% in the first six months of this year, the best first half for the index since 1997. However, the Fed is widely expected to cut interest rates at the end of the month, as domestic inflation and wage growth have not accelerated in recent months and international economic growth has slowed.

Minerd compared current market conditions to 1998, when the Fed cut rates in three consecutive months amid concerns about an economic crisis in Asia. The S&P 500 rose more than 28% in the last four months of that year.

“All you have to do is look at a replay of the post-Asia crisis back in 1998, and you get stocks at the kinds of levels that I’m talking about,” Minerd said.


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: jesse pound
Keywords: news, cnbc, companies, months, world, rates, scott, rise, minerd, 15, half, sp, stocks, 500, 1998, end, guggenheims, second, youre


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