Analyst news

• The Tell: ‘Stock-market correction is over’ after broad surge amid ‘epic’ market rallies

  06-11-2023 22:57
  The S&P 500’s big jump amid last week’s “epic rallies” for stocks and bonds was driven in part by interest-rate-sensitive sectors that broadened the breadth of the index’s gains, putting it on course for a rally into year-end, according to Yardeni Research. “All 11 sectors gained ground last week, many enjoying their best week in nearly a year,” said Yardeni analysts led by the firm’s president and chief investment strategist Ed Yardeni, in a n
  
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• Market Snapshot: Dow Jones secures longest win streak since late July following best week of 2023

  06-11-2023 22:36
  U.S. stocks finished higher on Monday, handing the Dow its longest win streak since late July, following the best week for equities in 2023. How stocks traded The Dow Jones Industrial Average DJIAfinished up by 34.54 points, or 0.1%, at 34,095.86.The S&P 500 SPXclosed higher by 7.64 points, or 0.2%, at 4,365.98. The Nasdaq Composite COMPended up by 40.50 points, or 0.3%, at 13,518.78. Monday was the Nasdaq’s seventh straight day of gains, matching the win streak last seen in January. I
  
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• The Margin: ApeFest host confirms 15 people suffered eye pain and vision issues after Bored Ape NFT event 

  06-11-2023 22:24
  At least 15 guests who attended a Bored Ape NFT event have reported suffering pain and burning in their eyes, which some of them are blaming on the fest’s bright lighting.  Yuga Labs, the blockchain company that hosted the “ApeFest” event in Hong Kong, confirmed that several guests have complained of eye discomfort and vision problems following the celebration of the Bored Ape Yacht Club’s non-fungible tokens collection (aka NFTs) over the weekend. “We are
  
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• Market Extra: The $26 trillion Treasury market is showing resilience in a year of extreme volatility, regulators say

  06-11-2023 22:15
  The $26 trillion Treasury market has shown resilience this year, despite wild swings in stocks and bonds, a deluge of U.S. debt issuance and the Federal Reserve shrinking its balance sheet. That’s a major takeaway from a progress report issued on Monday from staff at five U.S. regulatory agencies looking to roll out new reforms to enhance resilience and transparency in Treasury securities, the world’s largest and deepest debt market.“By the end of September, the supply of bills
  
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• : AMC bonds see bullish activity while meme-stock darling rides the Taylor Swift wave

  06-11-2023 22:15
  AMC Entertainment Holdings Inc. bonds have been seeing bullish activity recently, according to information from the market-data company BondCliQ. “The [AMC] bonds haven’t been quiet,” BondCliQ relationship manager John Brown-Christenson told MarketWatch. “In the last 10 [business] days, there has been better selling on the short end, the 2026 bond, and more buying on the longer 2029 bond.” This, Brown-Christenson explained, is typically a bullish sign. The AMC AMC,
  
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• Earnings Results: RingCentral’s stock jumps on narrowing loss, revenue beat, raised guidance

  06-11-2023 22:07
  RingCentral Inc.’s stock jumped about 10% in after-hours trading Monday after it reported a narrowing quarterly loss, results that beat analysts’ forecasts on the top- and bottom-lines, and sales projections that were raised. The cloud-based communications company RNG, -0.25%posted a third-quarter net loss of $42.1 million, or 45 cents a share, compared with a net loss of $284.6 million, or $2.98 a share, in the same quarter a year ago. Adjusted earnings were 78 cents a share.Total r
  
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• Movers & Shakers: Ryanair shares rise on airline’s dividend plan, Organigram soars on investment and Tesla declines

  06-11-2023 20:25
  Here are some of the biggest movers of the day: Stock gainers:POSCO Holdings Inc. PKX, +15.93%shares surged 15% after South Korea reintroduced a ban on short selling in a bid to level the playing field between retail and institutional investors.Birkenstock Holding PLC BIRK, +2.79%was up 0.8% as analysts weighed in with mostly bullish ratings on the stock as the lockup period after its IPO expired.Shares in Ryanair Holdings PLC RYAAY, +3.87%jumped 4% after the low-cost airline said it would pay i
  
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• Market Extra: Why the S&P 500 ETF’s rare triple ‘gap ups’ isn’t a buy signal

  06-11-2023 20:19
  The SPDR S&P 500 ETF’s big rally last week was very rare, as it accomplished something that has happened only three other times since its inception 30 years ago. But rare doesn’t make it bullish, as history suggests there’s a good chance the SPDR ETF SPY,which is also known as Spider, will suffer through some weakness over the next few weeks.Jonathan Krinsky, technical analyst at BTIG, pointed out that the SPY ended last week with three-straight “true-gaps” high
  
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• Market Snapshot: Dow Jones turns negative in afternoon trading as stocks slip following best week of 2023

  06-11-2023 20:18
  U.S. stocks turned lower Monday afternoon after struggling to hold onto gains seen earlier in the day, following this year’s best week for equities. How stocks are trading The Dow Jones Industrial Average DJIAfell 41 points, or 0.1%, to 34,020.The S&P 500 SPXdropped 8 points, or 0.2%, to 4,351. The Nasdaq Composite COMPwas down 26 points, or 0.2%, at 13,452.Last week, the Dow Jones rallied 5.1%, its biggest weekly gain since the week that ended on Oct. 28, 2022. The S&P 500 jumped
  
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• Deep Dive: Five potential takeover targets in the oil industry, following deals by Exxon Mobil and Chevron

  06-11-2023 20:08
  This could be a good time for investors to pour money into stocks of companies involved in the production of oil and natural gas. And the best reason for that may have nothing to do with military conflict. Nearly a month has passed since the latest disruption in the Middle East began with the attack by Hamas on Israel on Oct. 7. Because of Iran’s importance to the world oil market, its stated hostility to Israel and its support for Hamas, Hezbollah and other groups targeting Israel, invest
  
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• The Tell: Will a stock-market rally follow a peak in bond yields? It depends.

  06-11-2023 20:00
  It’s no secret that Treasury yields seem to be calling the tune for the stock market.Soaring yields got most of the blame for a selloff that saw the S&P 500 slip more than 10% from its late July high into correction territory at the end of last month.Last week was turnabout. Yields on 10-year Treasury notes BX:TMUBMUSD10Yand 30-year Treasury bonds BX:TMUBMUSD30Y saw their biggest drop since March. Stocks soared, with the S&P 500 SPX,Dow Jones Industrial Average DJIAand Nasdaq Compo
  
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• Market Extra: South Korean ETF soars after local authorities issue short-selling ban

  06-11-2023 19:59
  A U.S.-listed exchange-traded fund that tracks the South Korean stock market is surging toward its best day since April — and potentially its best since 2020 — after South Korean financial regulators reimposed a ban on short selling.The iShares MSCI South Korea ETF EWYwas up 5% in midday trade in New York, fetching $62.63 per share, according to FactSet data. It is on track for its biggest gain since January, and potentially the biggest since March 2020 if the ETF continues to climb
  
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• Market Extra: The Fed wanted the bond market’s help in fighting inflation. Is it backfiring?

  06-11-2023 19:29
  “‘ With financial conditions, we’re looking for persistent changes that are material … Longer-term rates that have moved up, they can’t simply be a reflection of expected policy moves from us.’ ” — Jerome Powell at Nov. 1 press conferenceFederal Reserve Chairman Jerome Powell said last week that a sharp, recent increase in bond yields may be helping with his fight inflation, suggesting that the Treasur …
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• The Rental Trap: These Americans could afford a mortgage. But they’re stuck in a cycle of renting.

  06-11-2023 19:06
  The legacy of redlining lives on in modern-day America, shutting millions of families of color out of homeownership, according to a new report. The report, by the real-estate brokerage Zillow Z, -1.58%,dug into how a lack of access to credit has pushed many people into renting for longer — when they could be paying the same amount or even less on a mortgage, and building equity in a home.The company analyzed specific regions in the United States that are “credit insecure,” mean
  
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• Cannabis Watch: Organigram’s stock soars as British American Tobacco invests $91.3 million

  06-11-2023 19:03
  Shares of Canadian cannabis company Organigram Holdings Inc. soaredmore than 20% Monday, after the company said it is getting a fresh C$124.6 million ($91.3 million) investment from British American Tobacco Plc, with plans to hunt for deals in the down-beaten space. The move comes after cannabis company’s valuation and stock price have fallen as the Canadian market has grappled with oversupply and cannabis companies’ scramble for cash. “The opportunity set within the cannabis s
  
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• : Disney earnings: What to expect when the Magic Kingdom reports

  06-11-2023 18:51
  Walt Disney Co. Chief Executive Robert Iger has his hands full as the media giant preps for its fiscal fourth-quarter earnings report Wednesday. The company’s DIS, -1.32%once-prodigious cable-television assets, like ESPN, are being hollowed out amid cord cutting and a weak advertising market, and Disney’s money-losing streaming business is in need of a jolt. Iger is taking radical steps that could include the sale of major businesses, like ABC. A key part of Iger’s recovery pla
  
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• The Fed: Debt not a big threat yet to U.S. economy, Cook says, but Fed can’t let down its guard

  06-11-2023 17:29
  Households, businesses and banks are in pretty good financial health and don’t appear to pose a big threat to the U.S. economy, a senior Federal Reserve official said Monday. “In my view, our financial system is substantially more resilient than it was in the mid-2000s,” said Fed governor Lisa Cook in a speech at Duke University.Cook said household debt such as car loans, credit cards and mortgages “remains at modest levels.”In addition, most of the debt is owned by
  
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• : Birkenstock garners mostly bullish ratings after IPO but is still languishing below its issue price

  06-11-2023 17:12
  Birkenstock Holding Ltd.’s stock rose Monday as analysts initiated coverage of the iconic German sandal maker with mostly bullish ratings now that the lockup period after its initial public offering has expired.Of 13 analysts submitting ratings to FactSet, nine have a buy rating or equivalent on the stock, while four have a hold rating. The average stock-price target is $43.78, or 6% above its current price. But the stock BIRK, +0.85%was last quoted at $41.13, below its IPO issue price of
  
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• : Eli Lilly chief scientific officer ‘extremely optimistic’ that major new Alzheimer’s breakthrough is coming 

  06-11-2023 17:05
  Dr. Daniel Skovronsky believes a big leap in Alzheimer’s disease treatment may be just around the corner–and that an overlooked class of medicines could become the GLP-1 drugs of the future. If he’s right, Eli Lilly & Co.’s LLY, +4.04%remarkable winning streak won’t fizzle any time soon. As Lilly’s chief scientific and medical officer, Skovronsky has been in the vanguard of innovations that have propelled the 147-year-old Indianapolis company to the t
  
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• Chuck Jaffe: Financial advisers still have too many ways to snag gullible investors

  06-11-2023 17:01
  “Different standards have long applied to various types of adviser.”The U.S. Department of Labor’s first attempt in years to revise rules guiding financial advice — released on Oct. 31 — pussyfoots around real problems, offering mild help but little comfort for consumers who need financial guidance now more than ever. This fight over a fiduciary standard for financial advice — requiring all advisers to put a customer’s best interests first — has be
  
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• Banking: Citigroup pursuing ‘Project Bora Bora,’ with staff reductions of at least 10% in some areas: report

  06-11-2023 16:47
  Citigroup Inc. is planning layoffs of at least 10% in some departments as part of a previously announced restructuring under Chief Executive Jane Fraser, according to a report on Monday.Citigroup’s stock C, -0.73%fell by 0.8% as word surfaced of the cost-cutting effort code named Project Bora Bora, according to the report by CNBC-TV, which cites people with knowledge of the process.A Citi spokesperson did not comment on the report but said, “We’ve acknowledged the actions we&rs
  
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• Yen waits at the start. Forecast as of 06.11.2023

  06-11-2023 11:23 via litefinance.org
  
  The market's initial reaction to the flexible approach to yield curve control was disappointment. However, then the understanding came that BoJ not only acted correctly but also chose the right time. Let us discuss the Forex outlook and make up a USDJPY trading plan.Weekly Japanese yen fundamental forecastThe more predictable the central bank is, the easier it is to trade against it. At first glance, BoJ's move from rigid to flexible targeting of the +/-1% 10-year yield range looked like hesitat
  
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• Market Snapshot: S&P 500 futures show stocks extending latest rally

  06-11-2023 11:10
  U.S. stock futures nudged higher early Monday, as hopes the Federal Reserve has finished raising borrowing costs continued to underpin sentiment.How are stock-index futures trading S&P 500 futures ES00, +0.16%rose 7 points, or 0.2%, to 4383 Dow Jones Industrial Average futures YM00, +0.04%added 35 points, or 0.1%, to 34162 Nasdaq 100 futures NQ00, +0.23%climbed 31 points, or 0.2%, to 15210On Friday, the Dow Jones Industrial Average DJIArose 222 points, or 0.66%, to 34061, the S&P 500 SPX
  
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• : Elon Musk reportedly told German workers Tesla will build low-cost car there

  06-11-2023 11:08
  Elon Musk told staffers at a plant near Berlin that Teslawould build a low-cost car there, according to a report. Reuters, citing a person with knowledge of the matter, reported that Musk said a 25,000 euro (roughly $27,000) vehicle would be made at the Gruenheide, Germany plant.Tesla’s TSLA, +0.66%Model 3 is listed in the U.S. at $38,990 on its web site, and other Tesla cars are more expensive.Musk last week posted to the X social media platform he owns that he was visiting the plant, aft
  
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• : Treasury dealer still forecasts another Fed rate hike, but not until January

  06-11-2023 11:05
  Economists at U.K. bank Barclays, one of the primary dealers for U.S. Treasurys, pushed back their call for a Federal Reserve rate hike to January. The move by Barclays came after a weaker-than-forecast 150,000 rise in payrolls, which also was accompanied by data showing the work week slipping by 0.1 hours. They also note that ISM reports were downbeat, leading the bank to reduce its fourth-quarter GDP forecast to 1.5% annualized.That said, though data developments went in the Fed’s favor
  
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• Kelley Blue Book: ‘This is a real head-scratcher’: Auto insurers are mystified by this big change in the number of deer accidents

  06-11-2023 11:04
  Across most of North America, deer are getting restless. Reckless. Willing to take a chance on love. It’s deer mating season in many states — a heady time for our ungulate friends, but a wary time for commuters already dealing with clock changes.Auto insurers say the rate of deer strikes peaks every November. But they’re watching closely to see what happens this year. Because last year, America saw a sharp drop in car-deer accidents reported to insurance companies. And your ins
  
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• Kelley Blue Book: 15 full-size SUVs with the most cargo space

  06-11-2023 11:03
  The never-ending balancing act between an SUV’s size, price, efficiency, and maneuverability can make the car shopping experience tricky, especially if you need to maximize the space available for moving goods. Fortunately, there are still some full-size SUVs and crossovers, and even a few more compact alternatives, that offer lots of cargo space — and most of them offer more than 100 cubic feet of cargo room.Here are the top mainstream SUVs (priced below $75,000) from the 2024 model
  
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• NerdWallet: Don’t make these mistakes when shopping for Medigap

  06-11-2023 11:02
  This article is reprinted by permission from NerdWallet. Medicare beneficiaries can buy Medicare Supplement Insurance, or Medigap, to help cover certain out-of-pocket costs associated with Medicare Part A and/or Part B. (If you’re shopping during Medicare open enrollment, Oct. 15 to Dec. 7, remember that people with Medicare Advantage can’t buy Medigap plans.)For example, depending on which plan type you choose, a Medigap policy could cover the 20% Medicare Part B 
  
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• NerdWallet: Intuit is shutting down the Mint budgeting app—here’s how long you have to find a new service

  06-11-2023 11:01
  This article is reprinted by permission from NerdWallet. Intuit Inc. announced this week that it will shut down Mint on Jan. 1, 2024. The company’s decision to discontinue the popular budgeting app could leave millions of users scrambling to find a replacement. Here’s what the news means for consumers and what to consider when choosing a new budgeting service. What is Mint? Mint, acquired by Intuit INTU, -0.37%in 2009, is a free personal finance app. It has long been one of the most
  
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• Next Avenue: Before you help your kids pay their student loans, consider these points

  06-11-2023 11:00
  This article is reprinted by permission from NextAvenue.org. Federal student loan payments resumed at the beginning of October, and many cash-strapped borrowers may be wondering how they’ll manage to pay their loan payments after a three-year hiatus. Should parents help their son or daughter pay back student loans? Financial advisers recommend that parents dispassionately consider the question using the following steps. 1. Review your own financial situation first How are you on meeti
  
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• NerdWallet: These are the best and worst air travel days around Thanksgiving and Christmas

  06-11-2023 10:59
  This article is reprinted by permission from NerdWallet. Most weeks of the year, Friday is the busiest day for air travel, and Tuesday is the least busy day. During the holidays, though, that doesn’t necessarily hold true.In most years, the Sunday after Thanksgiving is the busiest travel day at U.S. airports, according to the Transportation Security Administration, which tracks the number of passengers screened daily. The two days after Christmas also see heavy travel. And since Christmas
  
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• USD's three enemies. Forecast as of 06.11.2023

  06-11-2023 08:35 via litefinance.org
  
  The Treasury rally to 5% was unfavorable for both the Ministry of Finance and the Federal Reserve. Their coordinated intervention, together with weak employment data, changed the situation. Let's discuss this topic and make up a trading plan for EURUSD.Weekly US dollar fundamental forecastAfter the Treasury announced a smaller scale of bond issuance, it seemed that the Ministry of Finance became more loyal to investors. This was caused, among other things, by Jerome Powell's statement about
  
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• Short-term forecast for BTCUSD, XRPUSD and ETHUSD 06.11.2023

  06-11-2023 07:47 via litefinance.org
  
  I welcome my readers!I have prepared a short-term cryptocurrency forecast based on the Elliott wave analysis of Bitcoin, Ripple, and Ethereum. I offer entry signals to trade each cryptocurrency.Elliott wave Bitcoin analysisBitcoin continues to form a bullish wave [A] as a standard impulse (1)-(2)-(3)-(4)-(5). Now, inside this impulse, the corrective wave (4) is unfolding as a contracting triangle. Shortly, the price will rise within the corrective wave D to the level of 36000.00. An approximate
  
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• Short-term analysis for oil, gold, and EURUSD for 06.11.2023

  06-11-2023 07:33 via litefinance.org
  
  I welcome my fellow traders! I have made a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.The EURUSD reached all upside targets last Friday. Oil price forecast for today: USCrude analysisThe oil short-term downtrend continued last Friday. The price broke out the low of November 2. Today, the short-term downtrend should continue, and one could
  
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• Dow Jones Newswires: Japan unlikely to fall back to zero inflation, BOJ governor says

  06-11-2023 03:43
  NAGOYA, Japan — Bank of Japan Gov. Kazuo Ueda said Monday that Japan was unlikely to fall back to deflation even after pressure from higher import prices eases. “The inflation rate will not return to the range of 0% and 1%, which was the prepandemic level,” because the virtuous cycle between wages and prices is expected to strengthen, Ueda said in a speech to business leaders in the central Japan city of Nagoya, near Toyota Motor’s home.In its quarterly outlook report rel
  
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• : New poll shows Trump leading Biden in 5 key battleground states

  06-11-2023 00:02
  A new poll released Sunday found President Joe Biden trails Donald Trump in five key battleground states, raising new questions about Biden’s ability to hold onto the White House in 2024. The poll, conducted by the New York Times and Sienna College, showed Trump leading Biden by anywhere from three to 10 percentage points in five of six battleground states surveyed — Arizona, Georgia, Michigan, Nevada and Pennsylvania. Biden led in only one: Wisconsin. Across the six states, all of w
  
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