Latest news with #AdamSarhan
RTHK
5 days ago
- Business
- RTHK
US stocks close higher on trade hopes
US stocks close higher on trade hopes Traders work the floor of the New York Stock Exchange. Photo: AFP Wall Street stocks bounced on Tuesday as investors hoped for upcoming trade deals to cool tensions from US President Donald Trump's punishing global tariffs. The Dow Jones Industrial Average closed 0.5 percent higher at 42,519.64 while the broad-based S&P 500 gained 0.6 percent to 5,970.37. The tech-heavy Nasdaq Composite Index rallied 0.8 percent to 19,398.96. In particular, Nvidia shares gained 2.8 percent, helping with the overall advance. "The fact that we're not down to me suggests that the market expects a trade deal to happen," said Adam Sarhan of 50 Park Investments. "It's a matter of when, not if at this point." Tuesday's strong gains came despite the Organisation for Economic Co-operation and Development's (OECD) cut to global growth forecasts, warning that Trump's tariffs would stifle the world economy. After 3.3-percent growth last year, the global economy is now expected to expand by 2.9 percent in 2025 and 2026. The OECD also expects the US economy to expand by 1.6 percent this year, down from an expected 2.2 percent previously. (AFP)
CNA
29-05-2025
- Business
- CNA
Wall Street ends up with Nvidia, appeals court reinstates Trump tariffs
NEW YORK: United States stocks ended higher on Thursday (May 29) as shares of Nvidia gained after its quarterly results, while investors digested a late-afternoon court ruling that reinstated the most sweeping of President Donald Trump's tariffs. The appeals court ruling came a day after a trade court had ordered an immediate block on the tariffs. Trading was choppy for much of the day and indexes ended well off their highs of the session, however, with investors trying to digest the rulings and as shares of Salesforce fell 3.3 per cent. Salesforce's stock was down even as the enterprise software provider raised its annual revenue and adjusted profit forecasts. "Trump has already rolled back most of these tariffs anyway, so these court rulings are just headlines," said Adam Sarhan, chief executive of 50 Park Investments in New York. "As long as the market doesn't tank on the news, it's just a secondary" thing, he said. Nvidia gained 3.2 per cent after the company late on Wednesday reported upbeat sales results, driven by customers stockpiling AI chips ahead of US export restrictions on China. The company, however, warned that the new curbs are expected to cut US$8 billion from its current-quarter sales. Optimism about corporate earnings and Nvidia in particular is providing some support, said Oliver Pursche, senior vice president, adviser for Wealthspire Advisors in Westport, Connecticut. "It's about corporate earnings in general," he said. Nvidia, which is now up just 3.6 per cent for the year, was the last of the "Magnificent Seven" megacap tech and growth companies to report results for this earnings period. The Dow Jones Industrial Average rose 117.03 points, or 0.28 per cent, to 42,215.73, the S&P 500 gained 23.62 points, or 0.40 per cent, to 5,912.17 and the Nasdaq Composite gained 74.93 points, or 0.39 per cent, to 19,175.87. Trade developments have whipsawed the stock market this year, especially after Trump's Apr 2 announcement of sweeping tariffs on imports globally. The S&P 500 has rebounded from a selloff in early April as trade tensions have eased and as first-quarter earnings have been mostly better than expected. The index is now up 0.5 per cent for 2025 but off its February record high. Still, investors have become accustomed to Trump announcing steep tariffs, only to postpone them soon afterward. That has led to the acronym TACO (Trump Always Chickens Out), coined by the Financial Times. "It's cute; it's not a strategy," said Pursche, referring to the acronym. "However, from a purely American business perspective, there have been incremental gains achieved by the Trump administration on trade, and that shouldn't be ignored." Boeing rose 3.3 per cent after CEO Kelly Ortberg said the planemaker aims to increase production of its best-selling 737 MAX jets to 42 aircraft per month in the next few months and boost output to 47 a month in early 2026. On the economic front, a second reading from the Commerce Department showed gross domestic product contracted 0.2 per cent in the first quarter. Economists polled by Reuters had forecast a 0.3 per cent contraction. In other earnings-related news, Best Buy shares fell 7.3 per cent after the electronics retailer lowered its annual comparable sales and profit forecasts amid concerns that US tariffs would weigh on consumer demand for big-ticket items. Advancing issues outnumbered decliners by a 2.26-to-1 ratio on the NYSE. There were 114 new highs and 35 new lows on the NYSE. On the Nasdaq, 2,673 stocks rose and 1,806 fell as advancing issues outnumbered decliners by a 1.48-to-1 ratio.
Business Times
03-05-2025
- Business
- Business Times
Warren Buffett's favourite valuation indicator flashes buy signal
[NEW YORK] A key valuation metric touted by legendary investor Warren Buffett is signalling that equities are relatively cheap, bolstering the case that the sizzling rebound in US stocks has room to run. The 'Buffett Indicator' measures the ratio of the total value of the US stock market via the Wilshire 5000 Index divided by the dollar value of US gross domestic product. It stands at its lowest level since early September – even after a bounce that has sent stocks screaming higher in recent weeks. The 94-year-old chief executive of Berkshire Hathaway, which will hold its annual meeting in Omaha, Nebraska, this weekend, has said the 'single best measure of where valuations stand' was the ratio of the value of US publicly traded companies to the country's GDP. The indicator blared a warning late last year when it shot to a historic high, echoing similar signals sent during market peaks in 2021 and before the bursting of the dot-com bubble in 2000. The measure is now at 180 per cent, around where it stood after an unwind of the Japanese yen carry trade sparked a brief but intense selloff last year. That stock-market rout cleared the path for a powerful S&P 500 Index rally in the closing months of 2024. 'This is a crucial indicator because it helps traders know when to deploy capital and buy stocks,' said Adam Sarhan, founder of 50 Park Investments, who has been piling into Big Tech stocks. 'There are reasons to still be concerned about the global trade war, but if Trump isn't playing hardball with tariffs, people are going to buy, buy, buy with valuations much more reasonably priced now.' Valuation metrics of all types have taken on added significance this year, as investors try to determine if a tariff-fuelled sell-off has left stocks cheaper relative to their fundamentals. Those calculations are complicated by the S&P 500's 12 per cent bounce from its April lows, which has traders wondering whether to bet on momentum carrying the index further – or beef up hedges and place bearish bets on a trip back down. The index is still down nearly 9 per cent from its February record. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up In addition to the unpredictable twists of US President Donald Trump's trade war, investors are bracing for several more weeks of earnings season and next week's Federal Reserve meeting as potential catalysts that could determine the trajectory of stocks. For its part, the indicator is still above levels it plumbed during past market bottoms, including the Covid-19 sell-off of early 2020, when it fell to nearly 100 per cent. Other commonly used valuation gauges tell a similar story: The S&P 500, for example, now sits at 20.6 times forward earnings, down about 8 per cent from earlier this year, though still above the 10-year average of 18.6 times. Critics of the Buffett indicator argue that, among other things, the measure may ignore the effects of elevated interest rates. Higher borrowing costs can eat into company profits and weigh on stock prices. Some strategists also maintain that valuation is a poor tool for timing market moves, since assets can stay cheap or expensive for a long time before correcting. That said, few investors would ignore a measured lauded by Buffett, who is famous for buying on the cheap. Traders are eagerly awaiting Berkshire's annual meeting on Saturday (May 3), in part to glean any clues on whether Buffett has dipped into the company's cash pile – last reported at a record US$321 billion – to take advantage of bargains in the market. It may be one of the last meetings for Buffett, who told shareholders in the company's annual letter earlier this year that 'it won't be long before' a successor takes over as CEO, likely Berkshire's Greg Abel. Buffett 'has always been a long-term investor', said Scott Colyer, CEO at Advisors Asset Management. 'It will be crucial to hear what he says about the economy and whether cheaper valuations indeed pushed him to deploy all that cash to buy stocks during the sell-off.' BLOOMBERG
Yahoo
02-05-2025
- Business
- Yahoo
Warren Buffett's favorite valuation indicator flashes buy signal
(Bloomberg) — A key valuation metric touted by legendary investor Warren Buffett is signaling that equities are relatively cheap, bolstering the case that the sizzling rebound in US stocks has room to run. NJ Transit Urges Commuters to Work Remotely If Union Strikes NYC Lost $9 Billion of Income to Miami, Palm Beach in Five Years New York City Transit System Chips Away at Subway Fare Evasion NYC's MTA to Cut Costs Instead of Borrowing More to Fund Upgrades NYC's Congestion Toll Raised $159 Million in the First Quarter The 'Buffett Indicator' measures the ratio of the total value of the US stock market via the Wilshire 5000 Index divided by the dollar value of US gross domestic product. It stands at its lowest level since early September — even after a bounce that has sent stocks screaming higher in recent weeks. The 94-year-old chief executive of Berkshire Hathaway, which will hold its annual meeting in Omaha, Nebraska, this weekend, has said the 'single best measure of where valuations stand' was the ratio of the value of US publicly traded companies to the country's GDP. The indicator blared a warning late last year when it shot to a historic high, echoing similar signals sent during market peaks in 2021 and before the bursting of the dot-com bubble in 2000. The measure is now at 180%, around where it stood after an unwind of the Japanese yen carry trade sparked a brief but intense selloff last year. That stock-market rout cleared the path for a powerful S&P 500 Index (^GSPC) rally in the closing months of 2024. 'This is a crucial indicator because it helps traders know when to deploy capital and buy stocks,' said Adam Sarhan, founder of 50 Park Investments, who has been piling into Big Tech stocks. 'There are reasons to still be concerned about the global trade war, but if Trump isn't playing hardball with tariffs, people are going to buy, buy, buy with valuations much more reasonably priced now.' Valuation metrics of all types have taken on added significance this year, as investors try to determine if a tariff-fueled selloff has left stocks cheaper relative to their fundamentals. Those calculations are complicated by the S&P 500's 12% bounce from its April lows, which has traders wondering whether to bet on momentum carrying the index further — or beef up hedges and place bearish bets on a trip back down. The index is still down nearly 9% from its February record. In addition to the unpredictable twists of President Donald Trump's trade war, investors are bracing for several more weeks of earnings season and next week's Federal Reserve meeting as potential catalysts that could determine the trajectory of stocks. For its part, the indicator is still above levels it plumbed during past market bottoms, including the Covid-19 selloff of early 2020, when it fell to nearly 100%. Other commonly used valuation gauges tell a similar story: The S&P 500, for example, now sits at 20.6 times forward earnings, down about 8% from earlier this year, though still above the 10-year average of 18.6 times. Critics of the Buffett indicator argue that, among other things, the measure may ignore the effects of elevated interest rates. Higher borrowing costs can eat into company profits and weigh on stock prices. Some strategists also maintain that valuation is a poor tool for timing market moves, since assets can stay cheap or expensive for a long time before correcting. That said, few investors would ignore a measured lauded by Buffett, who is famous for buying on the cheap. Traders are eagerly awaiting Berkshire's annual meeting on Saturday, in part to glean any clues on whether Buffett has dipped into the company's cash pile — last reported at a record $321 billion — to take advantage of bargains in the market. It may be one of the last meetings for Buffett, who told shareholders in the company's annual letter earlier this year that 'it won't be long before' a successor takes over as chief executive, likely Berkshire's Greg Abel. Buffett 'has always been a long-term investor,' said Scott Colyer, chief executive at Advisors Asset Management. 'It will be crucial to hear what he says about the economy and whether cheaper valuations indeed pushed him to deploy all that cash to buy stocks during the selloff.' Made-in-USA Wheelbarrows Promoted by Trump Are Now Made in China 100 Moments You Might Have Missed From Trump's First 100 Days As More Women Lift Weights, Gyms Might Never Be the Same Can the Labubu Doll Craze Survive Trump's Tariffs? Healthy Sodas Like Poppi, Olipop Are Drawing PepsiCo's and Coca-Cola's Attention ©2025 Bloomberg L.P. By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy
Associated Press
02-04-2025
- Business
- Associated Press
Superior Group of Companies' Michael Benstock Featured on Smart Money Circle
ST. PETERSBURG, Fla., April 02, 2025 (GLOBE NEWSWIRE) -- -- Superior Group of Companies, Inc. (NASDAQ: SGC) today announced that Chairman and Chief Executive Officer Michael Benstock was interviewed on the Smart Money Circle podcast, hosted by renowned investor Adam Sarhan. The interview is now available for viewing on the Smart Money Circle YouTube channel. Investors can also access the interview via Superior Group of Companies' website at About Superior Group of Companies, Inc. (SGC): Established in 1920, Superior Group of Companies is comprised of three attractive business segments each serving large, fragmented and growing addressable markets. Across Healthcare Apparel, Branded Products and Contact Centers, each segment enables businesses to create extraordinary brand engagement experiences for their customers and employees. SGC's commitment to service, quality, advanced technology, and omnichannel commerce provides unparalleled competitive advantages. We are committed to enhancing shareholder value by continuing to pursue a combination of organic growth and strategic acquisitions. For more information, please visit .
