Latest news with #AdamCrisafulli
CNBC
31-07-2025
- Business
- CNBC
This has become the tech-and-everything-else stock market
You can't be cool in this market if you're not in tech. Stocks are set for a strong day thanks to major post-earnings surges in Big Tech names Microsoft and Meta Platforms . The former is trading more than 8% higher before the open, putting it on pace for its market cap to top above $4 trillion for the first time, while the latter jumped 11%. Other tech names such as Amazon and Nvidia also traded higher. "There are some moments that will remembered in the market for many years ... last night was one of them with the eye popping results from Microsoft and Meta," wrote Wedbush analyst Dan Ives, a noted tech bull. "These massive results seen by Microsoft and Meta further validate the use cases and unprecedented spending trajectory for the AI Revolution on both the enterprise and consumer fronts." As far as the broader market is concerned, this is yet another sign for investors to pile back into tech — while non-Big Tech equities lag. The Defiance Large Cap ex-Mag 7 ETF (XMAG) is up just 1.2% month to date, while the S & P 500 has gained 2.6% in that time. Over the past three months, XMAG has gained about 10%, while the broad market index has surged 14%. XMAG is still outperforming the S & P 500 year to date, however. Investors will get more Big Tech earnings after the close Thursday, with Amazon and Apple reporting. If Meta and Microsoft are any indication, these numbers should be gangbusters as well. However, Adam Crisafulli of Vital Knowledge advised clients to temper their excitement. "Investors shouldn't extrapolate those two giants (which are more sovereigns than traditional corporate entities) with the rest of Corporate America/Europe as earnings from other companies last night and this morning were mixed," he said in a note to clients. Take Shake Shack for example. The company's second-quarter earnings and revenue beat analyst expectations. However, comparable store sales — a key metric for restaurant companies — grew less than expected, sending shares down 10% before the bell. Robinhood also fell more than 1% after crypto and equities trading revenue fell short of expectations. That overshadowed an earnings and revenue beat for the second quarter.
CNBC
02-07-2025
- Business
- CNBC
Position portfolios for policy and geopolitical uncertainties, says Wells Fargo's Scott Wren
Scott Wren, Wells Fargo senior global market strategist and Adam Crisafulli, Vital Knowledge founder, joins 'Closing Bell Overtime' to talk the day's market action.
CBS News
27-06-2025
- Business
- CBS News
Stock market opens in record territory as investors bet on trade deals, Fed rate cut
Leading stock market indexes opened in record territory, with investors buoyed by signs of progress on a U.S.-China trade deal. Shortly after the start of trade on Friday, the S&P 500 rose 14 points, or 0.2%, to 6,155 points, surpassing its previous all-time closing high in February of 6,144. The index also briefly edged above its previous record on Thursday in intraday trading. The Nasdaq Composite gained 62 points, or 0.3 %, to 20,227, topping its previous record high of 20,174 on Dec. 16, 2024. The Dow Jones Industrial Average rose 0.4% to 43, 627 but remains below its previous high of 45,014 on Dec. 4, 2024. Markets have made a stunning turnaround since April, when the S&P 500 entered a bear market amid worries over the Trump administration's tariff policies. In recent weeks, investor worries have eased amid calmer rhetoric on tariffs and forecasts that hopes that the Federal Reserve rate will lower interest rates, analysts told CBS MoneyWatch. A sharp rebound in technology stocks have also helped drive the rebound. President Trump said at a White House event Thursday that Washington and Beijing had signed an agreement on trade, although details remain unclear. He added that he expects to have a deal with India soon. Despite the renewed optimism, Wall Street analysts warn that financial markets could still face a bumpy road ahead. "We think there's a dangerous amount of complacency on trade/tariffs, a view underscored by the fact markets this morning are celebrating the China 'deal' for a third time," Vital Knowledge analyst Adam Crisafulli said in a report. As the stock market rallied Friday, investors digested new inflation data from the Commerce Department, which indicated that prices rose 2.3% in May compared with a year ago, up from just 2.1% in April. Core inflation — which excludes the more volatile food and energy categories — rose 2.7% from a year earlier, an increase from 2.5% the previous month. contributed to this report.
Yahoo
24-06-2025
- Business
- Yahoo
Stock futures rise as investors bet that Iran-Israel truce will stick
Stocks look set to extend their gains Tuesday, with futures contracts climbing amid investor hopes that Israel and Iran would abide by a ceasefire announced by President Trump. As of 8:51 a.m. EDT, S&P 500 futures were up 42 points, or 0.7% while Dow Jones Industrial Average futures added 274 points, or 0.6%. Nasdaq Composite futures were up 1%. "Israel accepted the ceasefire earlier this morning and while some headlines suggest there may have already been a violation, geopolitical concerns are quickly fading from the forefront of the market narrative," Adam Crisafulli, head of Vital Knowledge, said in a research note. International markets also rose, with Germany's DAX climbing 1.8% the CAC 40 in Paris adding 1.2% and Britain's FTSE 100 up 0.3%. In Asia, Tokyo's Nikkei rose 1.1%, while The Shanghai Composite index climbed 1.2%. Oil prices continued to ebb on Tuesday, with U.S. benchmark crude falling 3% to $66.49 per barrel and Brent crude also shedding 3% to $69.38. Prices initially spiked after the conflict started two weeks ago, briefly topping $78 and raising concerns the hostilities could drive up energy costs for Americans. Israel on June 13 launched an attack on Iran targeting the nation's nuclear facilities and research scientists. The U.S. stepped up its involvement last weekend when it launched strikes on three Iranian nuclear facilities. In other events Tuesday that investors are watching, Federal Reserve Chair Jerome Powell will appear before the House Financial Services Committee at 10 a.m. EDT for day one of his semiannual appearance before Congress. He is scheduled to testify before the Senate Committee on Banking, Housing and Urban Affairs on Wednesday. The central bank said last week it would maintain the federal funds rate at its current range of 4.25% to 4.5%. The next Fed meeting is scheduled for July 29-30. Private insurers are working to ease the prior authorization process. Here's what that means. Americans search for relief from extreme heat impacting parts of country Global markets react to developments in the Middle East, Trump's ceasefire news Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CBS News
24-06-2025
- Business
- CBS News
Stock futures rise as investors bet that Iran-Israel truce will stick
Here's what could happen next between Israel and Iran Stocks look set to extend their gains Tuesday, with futures contracts climbing amid investor hopes that Israel and Iran would abide by a ceasefire announced by President Trump. As of 8:51 a.m. EDT, S&P 500 futures were up 42 points, or 0.7% while Dow Jones Industrial Average futures added 274 points, or 0.6%. Nasdaq Composite futures were up 1%. "Israel accepted the ceasefire earlier this morning and while some headlines suggest there may have already been a violation, geopolitical concerns are quickly fading from the forefront of the market narrative," Adam Crisafulli, head of Vital Knowledge, said in a research note. International markets also rose, with Germany's DAX climbing 1.8% the CAC 40 in Paris adding 1.2% and Britain's FTSE 100 up 0.3%. In Asia, Tokyo's Nikkei rose 1.1%, while The Shanghai Composite index climbed 1.2%. Oil prices continued to ebb on Tuesday, with U.S. benchmark crude falling 3% to $66.49 per barrel and Brent crude also shedding 3% to $69.38. Prices initially spiked after the conflict started two weeks ago, briefly topping $78 and raising concerns the hostilities could drive up energy costs for Americans. Israel on June 13 launched an attack on Iran targeting the nation's nuclear facilities and research scientists. The U.S. stepped up its involvement last weekend when it launched strikes on three Iranian nuclear facilities. In other events Tuesday that investors are watching, Federal Reserve Chair Jerome Powell will appear before the House Financial Services Committee at 10 a.m. EDT for day one of his semiannual appearance before Congress. He is scheduled to testify before the Senate Committee on Banking, Housing and Urban Affairs on Wednesday. The central bank said last week it would maintain the federal funds rate at its current range of 4.25% to 4.5%. The next Fed meeting is scheduled for July 29-30.
