Latest news with #CallieCox
Bloomberg
20-05-2025
- Business
- Bloomberg
Bloomberg Markets 05/20/2025
Bloomberg Markets TV Shows "Bloomberg Markets" follows the market moves across every global asset class and discusses the biggest issues for Wall Street. Today's guests; Ritholtz Wealth Management LLC Chief Market Strategist Callie Cox, Bloomberg's Tyler Kendall, Jaewon Kang, and Jackie Davalos. (Source: Bloomberg)
Yahoo
20-05-2025
- Business
- Yahoo
Bitcoin Climbs to $105K; Crypto ETF Issuer Sees 35% Upside
Cryptocurrencies regained footing on Monday after a rocky start to the trading session, mirroring a broader recovery in risk assets as traders digested Moody's downgrade of U.S. government bonds. Bitcoin BTC notched a strong rebound after slipping to as low as $102,000 early in the U.S. session, following its record weekly close at $106,600 overnight. The largest cryptocurrency by market cap climbed back to $105,000 in afternoon trading, up 0.4% over 24 hours. Ether ETH rose 1.2%, reclaiming the $2,500 level. DeFi lending platform Aave AAVE outperformed most large-cap altcoins, while the majority of the broad-market CoinDesk 20 Index members still remained in the red despite advancing from their daily lows. Solana SOL, Avalanche AVAX and Polkadot DOT were down 2%-3%. The bounce extended to U.S. stocks, too, with the S&P 500 and Nasdaq erasing their morning decline. The early pullback in crypto and stocks came after Moody's late Friday downgraded the U.S. credit rating from its AAA status. The move rattled bond markets, pushing 30-year Treasury yields above 5% and the 10-year note to over 4.5%. Still, some analysts downplayed the downgrade's long-term impact on asset prices. "What does [the downgrade] mean for markets? Longer-term – really nothing," said Ram Ahluwalia, CEO of wealth management firm Lumida Wealth. He added that in the short term there might be some selling pressure centered on U.S. Treasuries due to large institutional investors rebalancing, as some of them are mandated to hold assets only in AAA-rated securities. "Moody's is the last of the three major rating agencies to downgrade U.S. debt. This was the opposite of a surprise – it was a long time coming," Callie Cox, chief market strategist at Ritholtz Wealth Management, said in an X post. "That's why stock investors don't seem to care." While BTC hovers just below its January record prices, digital asset ETF issuer 21Shares sees more upside for this year. "Bitcoin is on the verge of a breakout," research strategist Matt Mena wrote in a Monday report. He argued that BTC's current rally is driven not by retail mania, but by a confluence of structural forces, including institutional inflows, a historic supply crunch and improving macro conditions that suggests a more durable and mature path to fresh all-time highs. Spot Bitcoin ETFs have consistently absorbed more BTC than is mined daily, tightening supply while major institutions, corporations such as Strategy and newcomer Twenty One Capital accumulate and even states explore creating strategic reserves. These factors combined could lift BTC to $138,500 this year, Mena forecasted, translating to a roughly 35% rally for the largest crypto. 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
Time of India
16-05-2025
- Business
- Time of India
US stock futures edge higher as S&P 500 eyes fifth gain on China tariff truce, cooling inflation, and Fed cut bets
US Stock Futures Rise as S&P 500 Eyes Fifth Straight Gain on Tariff Relief, Lower Inflation- Stock futures rose Friday morning, pointing to a positive open as investors digest easing trade tensions between the U.S. and China and soft inflation data. The S&P 500 is now aiming to extend its winning streak to five days. Futures tied to the Dow Jones Industrial Average gained 111 points, or about 0.3%. S&P 500 futures were up 0.2%, while Nasdaq-100 futures added 0.2% as well. This comes after several days of market optimism sparked by a 90-day pause on new tariffs from both the U.S. and China, as well as a cooler-than-expected inflation report. Major indices at a glance S&P 500 (SPX): Last close: 5,301.25 Futures: +0.38% On track for a fifth straight daily gain as risk appetite returns Dow Jones Industrial Average (DJIA): Last close: 39,908.00 Futures: +0.32% Gains tempered by weakness in retail and healthcare sectors Nasdaq Composite (IXIC): Last close: 16,742.39 Futures: +0.52% Tech leads the rally as bond yields ease and rate cut hopes grow Investor caution lingers Despite the upbeat tone, investors remain wary: 5 5 Next Stay Playback speed 1x Normal Back 0.25x 0.5x 1x Normal 1.5x 2x 5 5 / Skip Ads by Walmart's earnings warning raised concerns about consumer strength and retail sector margins. Novo Nordisk's CEO departure created uncertainty in healthcare markets. Rate cut optimism is tempered by caution ahead of upcoming Fed speeches and global macro risks. Why are stock futures rising today? Stock futures are up as the market reacts positively to this week's major headlines: easing trade tensions and improving inflation data. Earlier this week, officials from the U.S. and China agreed to a 90-day truce on new tariffs, signaling a temporary pause in what's been a major drag on global investor sentiment. Live Events The news has helped push stocks higher across the board. So far this week: The S&P 500 has gained 4.5% The Dow Jones Industrial Average is up 2.6% The Nasdaq Composite has jumped more than 6% Thursday's market move added to this trend. While the S&P and Dow closed slightly higher, the Nasdaq pulled back just a bit. Still, the overall mood remains positive. What role did inflation data play in the rally? A big boost came Thursday after a soft Producer Price Index (PPI) report showed wholesale prices fell 0.5% in April, easing fears of persistent inflation. This followed a consumer inflation report earlier in the week showing a 2.3% year-over-year increase in the Consumer Price Index (CPI) — the lowest since February 2021. 'This week has been a sigh of relief,' said Callie Cox, chief market strategist at Ritholtz Wealth Management. 'Investors are trying to assess what tariffs and inflation mean for the broader economy.' With inflation cooling, the Federal Reserve could be in a better position to cut interest rates in the coming months. According to UBS, slowing economic growth and a weakening labor market might lead the Fed to cut rates by 100 basis points starting as early as September. Are tariffs still a concern for companies like Walmart? While the tariff truce is welcome news, not all is calm. Walmart warned Thursday it may raise prices on certain products in late May due to lingering tariff impacts. Despite the warning, Bill Simon, former U.S. CEO of Walmart, believes the retailer can handle the pressure. 'They're growing gross margins — up 25 basis points this quarter,' Simon told CNBC. 'That gives them room to absorb any additional costs from tariffs.' Still, Cox cautioned that Walmart's update might be a warning sign of deeper economic strain. 'We're seeing these subtle hints that tariffs are affecting companies, but the market hasn't fully priced that in yet,' she said. What economic data are traders watching next? Markets are also awaiting fresh economic signals. On Friday, two key reports will be released: Housing starts data, giving a look at construction activity University of Michigan consumer sentiment survey, which will offer insight into how Americans are feeling about the economy These updates could help clarify the direction of the economy and influence the Fed's next move on interest rates. What's going on with Novo Nordisk and Constellation Brands? In company news, Novo Nordisk shares dropped more than 3% in premarket trading after announcing CEO Lars Fruergaard Jørgensen will step down. The Wegovy maker has seen its stock cut in half over the past year, facing rising competition in the obesity drug market. A new CEO has not been named yet. Meanwhile, Constellation Brands saw a 3% jump in its stock price after Warren Buffett's Berkshire Hathaway doubled its stake in the beer importer. The new stake is now worth around $2.2 billion, reflecting growing investor interest in the beverage company. Will the Fed actually cut interest rates this year? That's the big question. UBS's Solita Marcelli says the signs are pointing in that direction. 'Our base case is for 100 basis points of easing starting in September,' she wrote. Even if the U.S. avoids a full recession, slower growth and a weaker job market may give the Fed room to ease. For now, investors appear optimistic. A five-day rally for the S&P 500, cooler inflation, and temporary tariff relief have calmed fears — at least temporarily. FAQs: What's pushing stock futures higher this week? Easing U.S.-China tariffs and lower inflation reports are lifting stock futures. Will the Fed cut interest rates soon? UBS expects the Fed to begin rate cuts by September due to slowing growth.
CNBC
15-05-2025
- Business
- CNBC
Stock futures are little changed after S&P 500 extends rally for a fourth day: Live updates
A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 12, 2025. Brendan McDermid | Reuters Stock futures traded near the flatline Thursday night after the S&P 500 posted a four-day rally on the back of U.S. and China's temporary tariff cuts and encouraging inflation reports. Futures tied to the Dow Jones Industrial Average added 50 points, or 0.1%. S&P 500 futures slipped 0.1%, while Nasdaq 100 futures inched down 0.05%. Stocks have made a strong comeback since U.S. and Chinese officials earlier this week agreed on a 90-day truce in their tariff measures, which eased investors' fears of escalating global trade tensions and rising risk to the economy. The S&P 500 rose for a fourth straight day on Thursday and closed the session 0.41% higher, while the Dow Jones Industrial Average added 0.65%. The tech-heavy Nasdaq Composite declined 0.18%. "Today was just a continuation of what we've seen over the past few days, this sigh of relief in response to the U.S. bringing down tariff rates on China," said Callie Cox, chief market strategist at Ritholtz Wealth Management. "There's still this big question about what tariffs could mean for the economy, and right now investors are looking for that center of gravity and assessing the economic damage. But at the moment, it seems like moves are driving markets in the absence of any signals coming out of economic data." Thursday's action was aided by a soft inflation report, showing that wholesale prices declined 0.5% in April from the prior month. Much of the market's recent surge has been powered by a comeback in major technology names. Nvidia and Tesla are each up about 15% this week, while Big Tech giants Meta Platforms and Amazon have jumped 8% and 6%, respectively. This week, the S&P 500 is up 4.5%. The 30-stock Dow has added more than 2% and the Nasdaq Composite has climbed 6.6% week to date. Even as the temporary agreement between the U.S. and China has lifted sentiment this week, some major U.S. companies are issuing warnings about rising costs and a murky macroeconomic outlook. Walmart said on Thursday that it will likely have to raise prices on some items toward the end of May due to tariffs. "That concern didn't make its way into markets that was overshadowed by this, by this tech-led sigh of relief from the tariff news that we got Monday, but there is an undercurrent of anxiety," Cox said of the Walmart warning. "We're getting these little signs of tariff impact that haven't really overwhelmed investors' attention yet, but could could be indicative of cracks forming underneath the surface." On the economic front, traders will keep an eye out Friday for housing starts data and the University of Michigan's consumer sentiment survey.
Yahoo
05-05-2025
- Business
- Yahoo
Earnings Are Coming in Strong. Why Are Some Investors Antsy About It?
Earnings have been strong. Not everyone's happy about it. Nearly three-quarters of S&P 500 companies had turned in first-quarter results through Friday, according to FactSet, which in a note last week said that earnings for the index as a whole are on track—based on a 'blended' number that reflects numbers already reported and Wall Street's expectations for those that remain—to rise nearly 13% year-over-year. Still, some investors are wary. Investors have so far bid up shares of companies that have reported guidance better than the Street expected, according to Bank of America research, but companies have been rewarded less than is typical for stronger-than-expected results, and misses have been more harshly punished than in recent years. The percentage of companies beating earnings estimates, meanwhile, is higher than the historical average, but that of sales beats is lower, Bank of America said. Many companies are withdrawing forecasts entirely. One of the latest examples came today: engine maker Cummins (CMI), which cited uncertainty about the direction of Trump administration trade policy. (Other companies have taken another tack, offering up outlooks that take into account a range of economic scenarios.) 'Companies are getting nervous about the future—so much so that they're pulling earnings forecasts in droves,' wrote Callie Cox, chief market strategist at Ritholtz Wealth Management, in a Monday email. Even those that aren't withdrawing forecasts are being cautious, Goldman Sachs analysts wrote last week, while observing that an above-average share of companies that have offered full-year guidance have kept previously issued numbers in place. 'We view this dynamic partly as a reflection of [companies'] hesitancy to shift guidance due to uncertainty around tariff policy,' they wrote. 'For example, some companies noted in their earnings calls that their most recent guidance does not incorporate the impact of tariffs.' That could spell trouble in the months ahead, especially if companies are spending now to get ahead of the effects of tariffs later. 'In our reading, a combination of pre-buying and inventory rundowns should give companies a buffer of about 1 to 2 months before the tariff impacts start to bite,' Deutsche Bank analysts wrote last week. "If sustained, we see the potential impact of the announced tariffs as large and likely to fall disproportionately on US companies.' The bulk of the Magnificent Seven's results are in, with only Nvidia's (NVDA) remaining. But plenty of closely watched reports are expected this week, among them numbers from Palantir (PLTR), Advanced Micro Devices (AMD), Walt Disney (DIS) and Coinbase Global (COIN). Read the original article on Investopedia
