11/19/2023 0 Comments Cloud money by brett scott![]() ![]() In our view, similar to 2000, an aggressive Fed that pushes the US into recession is what ultimately undoes the uber-cap and 'new economy' trades," he said in a note to clients. "We believe this liquidity event dents-but does not break-the longer-term uber-cap trend. The index, which is seen as representative of the performance of growth stocks, will undergo changes before the market opens on July 24 to "address overconcentration in the index by redistributing the weights." But that doesn't mean analyst Christopher Harvey's forecast for how these large stocks will fare needs to be entirely thrown out. We suspect that if confidence in a 2024 economic recovery gathers steam, financials will benefit."Ī rebalance of the Nasdaq 100 aimed at reducing the concentration on Big Technology stocks does not necessarily change the entire outlook for mega-cap names, according to Wells Fargo. And it's worth noting that the sector tends to serve a cyclical function in portfolios as it tends to lag when ISM manufacturing is falling and outperform when it's rising. The flow of investment dollars into financials has "also been positive. "On Financials, our upgrade is driven by our analyst team's optimistic performance outlook and our own work indicating that valuations are attractive, dividend yields are compelling and earnings and sales revisions (though still slightly negative) have shown some signs of improvement," a report out Monday from RBC Capital head of U.S. financial and energy stocks sport "attractive valuations" at the group level, as do communication services stocks, RBC said. on health care and energy stocks, in addition to financials. ![]() financial stocks as a group, lifting them to overweight from market weight, reversing an earlier downgrade that was made in the wake of the failure of Silicon Valley Bank in March.Īs part of the same call, RBC said it was most positive in the U.S. RBC Capital Markets analysts have upgraded U.S. Dow component UnitedHealth reports Friday. Second-quarter earnings season kicks off later this week with results from " systemically important financial institutions" such as JPMorgan Chase, Wells Fargo and Citigroup, plus BlackRock, PepsiCo and Delta Air. "I think there's going to be a recession, because the Fed keep going until they see the labor market crack and until wage goes well below 4%," Schutte continued. The Fed worries about there being wage price spiral," said Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management Company. And a lot of that was because of the impacts of Covid. ![]() "I think you're going to see further evidence that the CPI-measured inflation is continuing its descent. But they are undecided about what the central bank will do at its September meeting after last week's continued robust jobs data raised concern that policymakers will revert to raising rates following the June pause. Investors have penciled in another quarter-point increase at the Federal Reserve's July 25-26 meeting. Economists polled by Dow Jones expect the index rose 3.1% last month on a year-over-year basis. ![]() The June consumer price index report set for release Wednesday, as well as the June producer price index due out Thursday, will shed light on whether the decline in inflation has continued, and create the backdrop for future direction of interest rates. The decision meant that the two companies were closer to completing their deal. Activision Blizzard 's shares jumped 10% after a federal judge denied the Federal Trade Commission's request for a preliminary injunction to stop Microsoft's acquisition of the video game company. Salesforce 's stock rose nearly 4% after the company announced it would increase prices across the board in August. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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