Stocks fell hard once again on Friday, with losses accelerating in the final minutes of trade to close out a brutal month and quarter for the bulls. Market experts Nancy Tengler and Scott Wren discuss ideas for the fourth quarter in this uncertain investing environment. The chair of the National Bureau of Economic Research, which is tasked with officially designating a recession, gives his view on the current state of the economy. Analyst Brian Nagel weighs in on Nike's post-earnings nosedive. And with Meta shares down more than 50% on the year, a bull and a bear debate the company's future prospects in light of a slew of headwinds.
What lies ahead for the final three months of the year? Solus Alternative Asset Management's Dan Greenhaus and Victoria Greene of G Squared Private Wealth have a heated debate about their market forecasts. Plus, Fundstrat's Tom Lee seems to be one of Wall Street's last bulls standing. He makes his case. And, it was a tough week for Apple. Capital Wealth Planning's Kevin Simpson breaks down why it's actually a great buying opportunity.
Stocks fall; services spending rises while goods spending falls; prices rise in August; JP Morgan Chase discontinues new safety deposit boxes To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices
Stocks fall; Hurricane Ian will challenge Florida's insurance market; continuing claims rise; Meta reportedly plans hiring freeze To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices
Stocks selling off and giving back most of Wednesday's big rally on renewed fears the Federal Reserve will continue to aggressively raise interest rates to fight inflation. Rosenberg Research President David Rosenberg says the Fed is trying to cause a recession to cool off red hot inflation. Canaccord Genuity's Tony Dwyer has been calling for a market fall in the Fall. He discusses how much more pain the market could be facing. Truist's Keith Lerner explains why he thinks the market is due for a short term bounce. Affirm CEO Max Levchin on whether he sees any signs consumer spending is slowing in this volatile economy and stock market. Charter Equity Research's Ed Snyder on whether it's time to buy Apple which has gotten crushed recently on concerns about iPhone 14 demand. And Barclays' Adrienne Yih and RBC Capital Markets' Piral Dadhania debate whether investors should buy shares of beaten down Nike ahead of its earnings report.
Another ugly day on Wall Street… leaving investors wondering what's next for their money. Trivariate's Adam Parker gives his forecast. Plus, top financial advisor Rich Saperstein explains how he is navigating the volatility. And, we're digging in on a rare downgrade for Apple… what that could mean for investors and the broader market.
The local market followed the global overnight rally to close the second last trading session of the week up 1.44%, driven by a surge in energy and materials stocks. Every sector of the local market closed in positive territory today as investor sentiment both locally and globally is boosted by the Bank of England's promise to buy $65bn pounds of sterling bonds to stabilise the UK's bond market. Energy stocks led the markets higher today following the European Union's renewed push for further sanctions on Russian commodities, and the subsequent sharp rise in commodity prices earlier today.A number of big announcements were released today that impacted specific company share prices, including Premier Investments releasing FY22 results including record dividends and a strong start to FY23 with sales up globally by 46% already.AGL Energy (ASX:AGL) also announced today it is fast tracking its exit from coal by closing Australia's biggest-emitting power plant 10-years earlier than previously planned which is expected to reduce AGL's annual greenhouse gas emissions from 40 million tonnes to net zero on achieved target closure.Taking a look at the best performing stocks today, Premier Investments soared 14.6% today on the release of strong FY22 results, Coronado Global Resources (ASX:CRN) also added more than 8% and De Grey Mining (ASX:DEG) finished the session 6.7% higher. On the losing front, IRESS (ASX:IRE) hand plunged 17% today after downgrading its full-year profit guidance due to ‘macro conditions', with the company now expecting profit for the financial year to be between $166m-$170m, down from the original guidance of $177m-$183m. Bega Cheese (ASX:BGA) fell 1.41% today and Karoon Energy (ASX:KAR) declined 1.4%.The most traded stocks by Bell Direct clients today were New Energy Solar (ASX:NEW), BetaShares Geared Australian Equity hedge fund (ASX:GEAR) and Whitehaven Coal (ASX:WHC).On the economic data front, the release of early indication CPI data for August out showing the country's inflation rate is expected to rise 7% in the year to July and 6.8% to August. The information released provides an early indication of September quarter CPI inflation that will be published later in October. The largest contributors to inflation in August were new dwelling construction up 20.7% and automotive fuel up 15%. The slight fall in inflation from July to August is mainly due to a decrease in prices for automotive fuel. The 6.8% rise for August shows the country's inflation is not accelerating.
A slew of differing market views surfacing at CNBC's Delivering Alpha Conference today. So, what's actually next for stocks? Ritholtz Wealth Management's Josh Brown weighs in. Plus, reports surfaced that Apple no longer plans to ramp up production of its new iPhone. Dan Ives of Wedbush breaks down the implications for the company in the long term. And, Mike Santoli gives his Last Word on today's market rebound.
Stocks jump; British central bank tries to calm bond markets; EU says Nord Stream pipeline leak likely sabotage; LEGO Group reports strong first half To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices
A big rally on Wall Street after the Bank of England announced it will buy bonds to stabilize its financial markets. Fmr. Fed Vice Chair Richard Clarida reacts to the Bank of England's move and discusses whether the Federal Reserve is taking the right steps to fight inflation and manage a soft economic landing. Charles Schwab Chief Investment Strategist Liz Ann Sonders discusses the big rally and whether this could be more than an oversold bounce. RockCreek CEO Afseneh Beschloss reveals her best investing opportunities around the globe and the industry she thinks is the “next big thing”. And shares of Biogen and Japanese drugmaker Eisai soaring after positive test results for their experimental Alzheimer's treatment. Eisai U.S. Chairman & CEO Ivan Cheung on how effective the drug is and when it could win FDA approval.
Can markets find some sort of stability in the coming days ahead? Vertas Financial's Greg Branch, Citi Global's Kristen Bitterly and Anastasia Amoroso of iCapital all give their expert market take. Plus, Schwab's Omar Aguilar discusses how to protect your portfolio amid all of the volatility. And, Joe Terranova is back to break down the sectors that could have the most upside.===
The local market took no lead from Wall Street's overnight sell-off, as the ASX closed Tuesday's session 0.41% higher, led by a rally for materials stocks, which boosted the key index to a positive close.Oil and gas giant Santos (ASX:STO) today announced it received a binding conditional offer from Papua New Guinea's national oil and gas company, Kumul Petroleum to acquire an additional 5% project interest in PNG LNG for asset value of US$1.4 billion, including a proportionate share of project finance debt of approximately US$0.3 billion. Should the deal be approved, Kumul Petroleum will own 22% of PNG LNG while Santos' shareholding will drop to 37.5%. Shares in Santos (ASX:STO) rose 1% today.MetalsGrove Mining (ASX:MGA) skyrocketed 61% today after announcing significant lithium pegmatite potential has been identified at the company's Upper Coondina Lithium Project in Western Australia during pre-drilling surface mapping at the site.A rally for coal miners today was due to ongoing concerns of a European energy crisis as the continent faces a shortage of gas and coal following Russia's energy commodity withdrawals and rationing since earlier this year. Whitehaven Coal (ASX:WHC) and New Hope Corporation (ASX:NHC) each added over 6% today.Taking a look at the best performing stocks today, BrainChip (ASX:BRN) jumped 7.23%, Megaport (ASX:MP1) added almost 7% and Pilbara Minerals (ASX:PLS) shared climbed just over 6%. And the stock hit the hardest by investors selling out today was Core Lithium (ASX:CXO), which fell more than 5.5% despite the company releasing a business and drilling update today including the Finniss operations uncovering first spodumene Ore in September and the BP33 exploration having high-grade spodumene bearing pegmatite intersected in multiple holes. Fisher and Paykel Healthcare (ASX:FPH) also lost almost 5% today while Ramsay Healthcare (ASX:RHC) fell 3.5%.The most traded stocks by Bell Direct clients today were Whitehaven Coal (ASX:WHC), New Energy Solar (ASX:NEW) and the BetaShares US Equities Strong Bear Hedge Fund (ASX:BBUS).Taking a look at economic data, US durable goods orders data for the month of August is out tonight, with the market expecting a decline of 0.4% after a decline in orders for transport equipment weighed down US durable goods orders in July.US new home sales for August data is also out at midnight tonight, giving an insight into the current condition of the property market in the US amid the Fed's aggressive interest rate hike strategy to curb the country's inflation.
Stocks close mixed; capital equipment orders rise; consumer confidence improves in September; new home sales jump in August To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices
Stocks finished mostly lower after trading in a very wide range, with Fed commentary and bond moves pulling the market in opposite directions. DoubleLine's Jeff Sherman and Mohamed El-Erian from Allianz discuss the factors weighing on stocks and bonds, if they'd be buyers in this uncertain environment. Meantime McDonald's was among the worst performers in the Dow after Citi issued a negative catalyst watch on the stock. The analyst behind that call joins to explain his warning. And the CEO of cybersecurity firm Qualys – a rare tech winner on the year – breaks down his read on corporate tech spending.
Stocks pulled back again today with yields and the dollar pushed higher. But, NewEdge's Cameron Dawson thinks a relief rally could be on the horizon. She makes her case. Plus, top technician Katie Stockton breaks down the key levels to watch in the energy market. And, Brent Thill of Jefferies explains the big impact a stronger dollar could have on big tech.
Stocks were mostly lower in Monday trading following last week's brutal selloff as investors continue to watch the Fed. Former PIMCO Chief Economist Paul McCulley reacts to new comments from Raphael Bostic of the Atlanta Fed and discusses if the central bank can engineer a soft landing. Currencies were in focus as the British pound fell to record lows, and the dollar index hit its highest level in decades. Ruchir Sharma from Rockefeller explains what those moves mean for global markets. And David Rolfe from Wedgewood Partners identifies some “tasty bargains” in tech, as that sector piles on more losses to a brutal month.
Stocks fall; Russia's invasion of Ukraine adds to other pressures on global growth; British pound falls on Monday; remote work accounts for over half of pandemic home price gains To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices
The Australian market dipped to a 3-month low during today's session amid global recession fears, oil prices diving and the US dollar surging to a fresh-peak. The ASX200 closed the first trading session of the week down 1.6%.The ASX was also sold-off as the UK pound nosedived to a new record low US$1.035 on the promise of new tax cuts in the UK's mini-budget as investors fear a surge in government borrowing to pay for the huge tax cuts.The energy sector which is leading the gains in 2022, was hit hard today with the sector experiencing its worst session since March 2020, as oil prices continue to plunge. The price of brent is down a further half a percent today at US$85.76 per barrel, while crude oil is down 0.54% at US$78.31 per barrel today. Whitehaven Coal (ASX:WHC) led the losses on the energy sector, down 11% today, wiping off some the coal producers' recent gains.The winning stocks today were Nanosonics (ASX:NAN), Megaport (ASX:MP1) and REA Group (ASX:REA), which are part of the technology sector that gained more than 1% today. And on the losing side, New Hope Corporation (ASX:NHC) took the biggest hit today, diving almost 15%, followed by Costa Group (ASX:CGC) plunging just over 14% today after the company announced it is back on the hunt for a new CEO just 18-months after Sean Hallahan will step down with effect from today, September 26, 2022, just 18-months after the biggest leadership change in ASX history.The most traded stocks by Bell Direct clients today were Whitehaven Coal (ASX:WHC), Argosy Minerals (ASX:AGY), and BHP Group (ASX:BHP).On the economic data front, it's a slow week for the release of any economic data that will come as a slight relief for investors who have been very responsive to crucial economic data that has been released of late.
Stocks hitting new lows … so where is the market really heading from here? MBF Clearing's Mark Fisher gives his expert market view. Plus, EMJ's Eric Jackson breaks down how to trade the tech wreck. And, Joe Terranova and Mike Santoli give their Last Word on a wild week.
Stocks closing sharply lower to close out a brutal week for the bulls amid rising fears of a global recession. Former Kansas City Fed President Thomas Hoenig discusses whether the Federal Reserve is making a mistake by being so aggressive with its interest rate hikes. Laffer Tengler Investments' CEO Nancy Tengler says the market is starting to price in a policy mistake by the Fed and unveils how she is positioning her clients as a result. JP Morgan Asset Management's David Lebovitz says high quality fixed income is starting to look very attractive as investors seek safety from this market turmoil. Bespoke's Paul Hickey on how this week's huge market sell off could impact historic seasonal patterns. Ariel's Charlie Bobrinskoy says value stocks are the way to play this market sell off, but Edward Jones' Mona Mahajan believes it may be time to buy back into growth stocks. Evercore ISI's Mark Mahaney reveals where he sees longer term opportunities to buy large cap tech stocks. And Raymond James' Pavel Molchanov weighs in on whether there is an opportunity in the energy sector as oil prices fall to the lowest level since January.
Stocks close down; natural gas storage bodes well for winter supplies; FedEx plans to raise fees; Ford reportedly runs out of blue logo badge To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices
Another volatile day on Wall Street as investors fear the Federal Reserve's rate hikes could push the economy into recession. Fairlead's Katie Stockton says the market has long-term downward momentum and investors should be skeptical of any bounces right now. But CFRA's Sam Stovall says October is typically a bottoming month for the market and thinks we could be setting up for an end of year relief rally. Wells Fargo's Mike Mayo on what the latest Fed rate hike means for the banks and which financial stocks he thinks are the most attractive. UBS' Colin Bristow upgrading shares of Eli Lilly and explains why its new weight loss drug could be the "biggest drug ever". And Mizuho's Dan Dolev downgrading Block and says corporate mismanagement is blocking growth.
Stocks close down; Fed's rate hikes are pushing yen's value lower; Strategic Petroleum Reserve oil stocks at lowest since 1984; unemployment claims rise To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices
DoubleLine's Jeffrey Gundlach gives his instant and exclusive reaction to today's Fed decision. Plus, why Gundlach says there is a 75% chance of a recession in 2023. And, Mike Santoli breaks down what he's expecting from tomorrow's trading session … and what it could mean for your portfolio.
Stocks fall; Powell says more hikes are coming; existing home sales fall; Walmart announces seasonal hiring plans To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices
The market sinking after the Federal Reserve raised interest rates by 75 basis points and forecast more hikes in the future to fight inflation. Former National Economic Council Dirctor Gary Cohn weighs in on whether a recession is now more likely than a soft landing. Jefferies Chief Market Strategist David Zervos on how investors should be playing this volatility and whether the market is starting to price in a recession. And Mastercard Economics Institute's Chief Economist Michelle Meyer on why consumer spending remains strong despite inflation remaining very high.
The Fed decision is less than 24 hours away … and the question is, is today's sell-off a precursor to an even bigger move tomorrow or will the Fed chair soothe investors? Virtus Investment's Joe Terranova weighs in. Plus, GSquared's Victoria Greene says “the pivot is dead” ahead of tomorrow's big meeting. She explains. And, market expert Mike Santoli's final Last Word before the decision. What he's watching.
Stocks selling off ahead of Wednesday's key Federal Reserve decision on interest rates. Canaccord's Tony Dwyer says stocks are setting up for a big fall in the Fall, but predicts a huge rally into the end of the year. Barclays' Adrienne Yih explains why she downgraded Nike, which was one of the worst performers in the Dow. National Economic Council Director Brian Deese on the mixed signals the market is getting from companies on the economy and whether the White House should accept any blame for inflation. GM CEO Mary Barra & Hertz CEO Stephen Scherr discuss the automaker's deal to sell up to 175,000 electric vehicles to Hertz. Plus, Barra weighs in on whether her company is experiencing the same rising supplier costs that Ford is warning about. And Lerer Hippeau Managing Partner Ben Lerer discusses how market volatility is impacting private company valuations, the IPO market and the SPAC industry.
Stocks fall; bond yields rise ahead of Fed's interest rate announcement; Ford warns of supply shortages; Gap reportedly cutting jobs To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices
Stocks rise; rising home costs causing builder confidence to sink; Puerto Rico loses power after hurricane; retail theft losses rise To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices
A fast-paced look at the after-hours moves and late-breaking news live from the New York Stock Exchange. Closing Bell Overtime drills down into stocks and sectors, interviews some of the world's most influential investors and gets you ready for the next day's action.
It was a tough week for stocks – especially tech. So, is now the time to buy the dip? “Mad Money” Host Jim Cramer gives his expert market take. Plus, Fundstrat's Tom Lee is sticking to his bullish stance – calling for a big comeback heading into the end of the year. Capital Wealth Planning's Kevin Simpson is back … and this time he sees Fedex's big warning as a big buying opportunity.
Stocks fall; FedEx CEO sees signs of a global recession; consumer sentiment rises slightly; Uber investigating cybersecurity breach To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices
The debate is on over whether the Fed is about to send stocks into a tailspin by raising rates too much, too fast. Dan Greenhaus of Solus Alternative Asset Management gives his take. Plus, could the tech wreck get even worse? Fundstrat's Mark Newton breaks down the charts and reveals his forecast. And, top portfolio manager Avery Sheffield discusses what's at stake at next week's Fed meeting and how she's navigating the uncertainty.
Stocks fall; consumer spending sends mixed signals; IRS plans new hires; mortgage rates eclipse 6 percent To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices
Investors treading lightly today as they assess the damage from yesterday's major sell-off. So, was that a one-off drop or a warning shot of more selling to come? Eric Johnston from Cantor Fitzgerald gives his expert take. Plus, Oakmark's Bill Nygren reveals his top value plays. And, Larry Cordiso of Osterweis Capital Management breaks down how to navigate the tech trade following yesterday's 5% drop on the Nasdaq
It was a choppy session on Wall Street following Tuesday's major selloff, with stocks wavering between gains and losses. Bridgewater's Rebecca Patterson joins with her outlook for the US relative to the rest of the world. Chris Harvey from Wells Fargo and Jim Paulsen from The Leuthold Group make the bull case for equities. An expert explains why Moderna's talks with China could present a stealth catalyst for the whole market. And the analyst who just upgraded SoFi breaks down how student loans and the NFL could help the stock.
Stocks close up; producer price inflation is decelerating; Amtrak cancels trips ahead of possible rail strike; California sues Amazon To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices
Stocks fall after CPI report; gasoline price declines offset rise in health care, new vehicle and rent costs; supplemental poverty measure falls in 2021 To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices