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Trade Tracker: Steve Weiss trims Netflix

CNBC

7 hours ago

Business
CNBC

Trade Tracker: Steve Weiss trims Netflix

Steve Weiss, founder and managing partner of Short Hills Capital Partners joins CNBC's 'Halftime Report' to explain why he's trimming Netflix.

Tariffs didn't bite the stock market in May, but June could be a different story

CNBC

3 days ago

Business
CNBC

Tariffs didn't bite the stock market in May, but June could be a different story

The strong performance for stocks in May could be a sign that Wall Street has decided to shrug off President Donald Trump's tariff plans, but there are some reasons to think the impact on trade will be harder to avoid in the months ahead. For one, global trade does not appear to have found a new equilibrium just yet. Container ship departures from China to the U.S. are trending lower again, and as of late May were down almost half from the same time a year ago, according to a chart shared by Apollo Global Management chief economist Torsten Slok. "The court ruling and reversal over the past few days is not making it easier for businesses to decide if they should import now or wait," Slok said in a note Friday. Add in Trump's accusation on Friday that China has " violated " the preliminary trade agreement reached earlier this month, and it's hard to blame companies who might be hesitant to place that next import order. Inflation is another factor that is still up in the air. Friday's personal consumption index data came in a tick lower than expected , but that reading was for April. Cayla Seder, macro multi-asset strategist at State Street, told CNBC that her firm's data shows a recent uptick in prices for household goods and electronics. That could lead to continued pressure on stocks like tech hardware and retail, many of which are already trailing the broader market in 2025. XRT YTD mountain This retail ETF is underperforming the S & P 500 in 2025. "You see a preference for producers and strong selling of retailers ... You have producers who are passing on the price increases to retailers, and now it's up to retailers to pass those price increases on to the consumer," Seder said. Of course, just because the impact of tariffs may not be fully seen yet does not mean the stock market must re-test its lows from April. Ritholtz Wealth Management CEO Josh Brown said on Friday's " Halftime Report " on CNBC that the issues of some companies, such as struggling retailers, "pale in comparison" to the stronger parts of the market, like Big Tech. But with most trade routes operating under an ever changing and legally uncertain cloud, the summer just might present more challenges for the current bull market.

Josh Brown says he's not sure if Nike can ever turn it around

CNBC

4 days ago

Business
CNBC

Josh Brown says he's not sure if Nike can ever turn it around

Household brand Nike is not setting itself up for a successful turnaround, according to Josh Brown, CEO of Ritholtz Wealth Management and CNBC PRO contributor . The widely followed investor believes that the iconic footwear brand isn't keeping up with the fierce competition as its celebrity spokespeople age out of popularity. The stock has fallen another 19% this year following a 30% loss in 2024. "The superstars that are all aging. LeBron James is in his 40s. Michael Jordan is 30 years retired," Brown said on CNBC's " Halftime Report ." "I don't even know what we do with something like Nike here. It's just a falling knife. It's a really tough one." In late March, Nike said it expected its sales to decline in the fiscal fourth quarter to be at the "low end" of the "mid-teens range," far worse than analysts expected. The company said its guidance is based on its ongoing restructuring efforts, plus tariffs and sliding consumer confidence. NKE 5Y mountain Nike, 5 years Nike did beat Wall Street's expectations in its fiscal third quarter, however. "This is a stock that is effectively sitting on an eight year low. It keeps making lower lows even when they have a 'better than expected quarter,' within a week, stocks down," Brown said. Nike said last week it will raise prices on a wide range of footwear , apparel and equipment as the retail industry braces for tariffs to hit its profits, The investor said Nike has been getting by through selling staple sneakers like Air Force Ones and Jordans, but that's not enough to beat competition. "This is the same thing they've been doing," Brown said. "You've got these other brands that have come along. They don't have meaningful market share, but they're forcing Nike to fight defensively in key markets, like running." All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. INVESTING INVOLVES RISK. EXAMPLES OF ANALYSIS CONTAINED IN THIS ARTICLE ARE ONLY EXAMPLES. THE VIEWS AND OPINIONS EXPRESSED ARE THOSE OF THE CONTRIBUTORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY OR POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC. JOSH BROWN IS THE CEO OF RITHOLTZ WEALTH MANAGEMENT AND MAY MAINTAIN A SECURITY POSITION IN THE SECURITIES DISCUSSED. ASSUMPTIONS MADE WITHIN THE ANALYSIS ARE NOT REFLECTIVE OF THE POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC" TO THE END OF OR OUR DISCLOSURE. Click here for the full disclaimer.