Latest news with #HorizonInvestments
Time of India
2 days ago
- Business
- Time of India
Wall Street ends higher as investors track US-China trade talks
The S&P 500 ended higher on Tuesday, lifted by a rally in Tesla as investors bet on positive results from U.S.-China trade talks aimed at defusing a tariff dispute that has roiled global markets this year. Wall Street expects improved trade terms after relief from a preliminary deal struck last month was overshadowed by Washington's allegations that Beijing was blocking exports of rare earth minerals critical to the aerospace, semiconductor and defense sectors. U.S. Commerce Secretary Howard Lutnick said the trade talks were going well and he hoped they would end on Tuesday night, but said they could run into Wednesday. The U.S. stock market has surged in recent weeks, recovering from an April slump sparked by U.S. President Donald Trump's "Liberation Day" sweeping global tariffs. With investors betting the United States will reach trade agreements that reduce Trump's steep trade barriers, the S&P 500 is now trading just below its February record highs. Live Events "The expectation is that they'll figure this out, and that the Liberation Day tariff levels are never going to be seen. You can't get to market valuations where we've got them and have those tariff levels get anywhere close to reality," said Scott Ladner, chief investment officer at Horizon Investments. Shares of Wall Street's most valuable companies were mixed. Tesla rose 5.6%, while Microsoft slipped 0.4%. Alphabet climbed 1.4% after Reuters reported that OpenAI plans to add Alphabet's Google cloud service to meet its growing needs for computing capacity. The S&P 500 climbed 0.55% to end the session at 6,038.81 points. The Nasdaq gained 0.63% to 19,714.99 points, while the Dow Jones Industrial Average rose 0.25% to 42,866.87 points. Of the 11 S&P 500 sector indexes, 10 rose, led by energy , up 1.77%, followed by a 1.19% gain in consumer discretionary. Volume on U.S. exchanges was relatively heavy, with 18.5 billion shares traded, compared to an average of 17.9 billion shares over the previous 20 sessions. Investors are awaiting U.S. consumer prices data on Wednesday for clues to the Federal Reserve 's rate trajectory. The World Bank slashed its global growth forecast for 2025 by 0.4 percentage point to 2.3%, saying higher tariffs and heightened uncertainty posed a "significant headwind" for nearly all economies. Insmed shares jumped almost 29% after the drugmaker said its experimental drug significantly reduced blood pressure in the lungs and improved exercise capacity in patients in a mid-stage study. J.M. Smucker's shares tumbled 15.6% after the Jif peanut butter maker forecast annual profit below estimates. Snap ended down 0.1% after the social media platform said it would launch its first-ever smart glasses for all consumers next year, ratcheting up competition with Meta in the wearable technology market. Advancing issues outnumbered falling ones within the S&P 500 by a 2.0-to-one ratio. The S&P 500 posted 12 new highs and 2 new lows; the Nasdaq recorded 75 new highs and 45 new lows.
CNA
6 days ago
- Business
- CNA
Wall Street jumps, Treasury yields advance as upbeat jobs report eases economic fears
NEW YORK :Wall Street rebounded on Friday and U.S. Treasury yields jumped as a generally upbeat employment report and a bounce-back in Tesla shares helped put the indexes on track for weekly advances. All three major U.S. stock indexes surged from the starting gate with robust gains, while bitcoin jumped and crude prices touched their highest level since late April. The U.S. economy added 139,000 jobs in May, topping analyst expectations, while the unemployment rate held firm at 4.2 per cent, according to the Labor Department. The report also showed hotter-than-anticipated wage growth, rounding out a report that is unlikely to convince the U.S. Federal Reserve to cut its key policy rate in the near-term. "This is a sigh of relief report; people were really worried that this was going to be a kind of start of a downturn in the labor market and therefore start the downturn in the economy," said Scott Ladner, chief investment officer at Horizon Investments in Charlotte, North Carolina. "And it came in pretty much on the screws and we've got a sort of a bit of a reprieve, at least for a month. And that's leading to a pretty large relief rally," Ladner added. Tesla stock was last up 5.9 per cent. The previous day, the very public spat between U.S. President Donald Trump and his top advisor billionaire Elon Musk had shaken the markets, sending shares of Musk-helmed Tesla tumbling, which helped drag the indexes decisively lower. The falling-out between the erstwhile political allies revived concerns over Trump's "Big Beautiful Bill" of tax and spending plans and its effect on the growing deficit. Tariff negotiations between the U.S. and its trading partners remain fluid, with the European Union and India working toward ironing out deals, and further talks between Washington and Beijing promised after Trump's phone call on Thursday with Chinese President Xi Jinping. The Dow Jones Industrial Average rose 485.78 points, or 1.15 per cent, to 42,805.52, the S&P 500 rose 66.69 points, or 1.12 per cent, to 6,005.88 and the Nasdaq Composite rose 252.22 points, or 1.31 per cent, to 19,550.67. European shares followed their U.S. counterparts higher after the jobs report, as investors remain on the lookout for signs that tensions and uncertainties arising from Trump's erratic trade policies have begun to dampen the economy. MSCI's gauge of stocks across the globe rose 5.53 points, or 0.62 per cent, to 892.36. The pan-European STOXX 600 index rose 0.31 per cent, while Europe's broad FTSEurofirst 300 index rose 6.86 points, or 0.31 per cent Emerging market stocks fell 1.29 points, or 0.11 per cent, to 1,181.39. MSCI's broadest index of Asia-Pacific shares outside Japan closed lower by 0.14 per cent to 622.39, while Japan's Nikkei rose 187.12 points, or 0.50 per cent, to 37,741.61. The dollar gained ground against major currencies in the wake of the better-than-expected employment data. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.57 per cent to 99.22, with the euro down 0.48 per cent at $1.1389. Against the Japanese yen, the dollar strengthened 1 per cent to 144.96. The report also prompted a rally in bitcoin, which gained 4.31 per cent to $104,840.63. Ethereum rose 5.02 per cent to $2,519.33. U.S. Treasury yields also rode the wave of the upbeat jobs data. The yield on benchmark U.S. 10-year notes rose 7.5 basis points to 4.47 per cent, from 4.395 per cent late on Thursday. The 30-year bond yield rose 5.1 basis points to 4.9346 per cent from 4.884 per cent late on Thursday. The 2-year note yield, which typically moves in step with interest rate expectations for the Federal Reserve, rose 8.8 basis points to 4.012 per cent, from 3.924 per cent late on Thursday. Crude prices were on track for their first weekly gain in three after Trump and Xi resumed trade talks, raising hopes of demand growth. U.S. crude rose 1.88 per cent to $64.56 a barrel and Brent rose to $66.33 per barrel, up 1.52 per cent on the day. Gold prices dipped in opposition to the strengthening greenback.
Yahoo
22-04-2025
- Business
- Yahoo
Horizon Investments' Acquisition of Centre Asset Management Has Closed, Further Enhancing Firm's Investment Solutions Capabilities
CHARLOTTE, N.C., April 22, 2025--(BUSINESS WIRE)--Horizon Investments, LLC, a leader in providing the financial advisor community with highly customized investment and technology solutions, is today sharing that its previously announced transaction to acquire a majority of the assets of Centre Asset Management has closed. The addition of Centre, a New York-based active equity manager founded in 2006, to the Horizon suite of solutions is indicative of the firm's ongoing efforts to enhance its fast-growing range of capabilities for financial advisors. "As we discussed when we announced these plans in late 2024, the active equity expertise of Centre is a compelling addition to our in-house investment management team," said John Drahzal, President & Chief Executive Officer of Horizon. "For over 30 years, Horizon has helped thousands of financial advisors build stronger, more efficient practices while delivering meaningful outcomes for their clients, and the insights and approaches that James Abate, who led Centre, and his colleagues now add to our arsenal come at a pivotal time in navigating these challenging markets." "Our clients count on us to deliver, because their clients count on them — James and his team recognize the critical role expectational certainty® plays in supporting our clients' goals," added Scott Ladner, Chief Investment Officer with Horizon. "I could not be more excited to be welcoming them as our colleagues and furthering the Horizon Investments mission together." "I am thrilled that we are now part of the Horizon family and believe now, perhaps more than ever, that our differentiated approach to fundamental security selection, is well positioned to play a major role in the construction and management of resilient and differentiated portfolios," added Mr. Abate. Mr. Abate will remain based in New York City, giving Horizon a physical in-market presence in New York for the first time. Terms of the transaction were not disclosed. Horizon's team of experts publishes regular commentary for advisors and clients on market moves and other trends of note, which you can access here. About Horizon InvestmentsHorizon Investments is an industry-recognized firm providing modern goals-based investment solutions to empower financial advisors to help their clients reach their financial goals. Horizon offers deep expertise, high-touch service, and a pioneering goals-based planning philosophy through its GAIN PROTECT SPEND® framework. This approach allows advisors to deliver their clients customized solutions, innovative risk mitigation, and retirement income strategies. More than an investment firm, Horizon helps fuel the growth of advisory practices by providing tools, technology, and support to help advisors transform their practices to focus on what they do best: building meaningful relationships and helping clients reach their financial goals. Horizon has advisor clients across the country and is headquartered in Charlotte, North Carolina. For more information, please visit View source version on Contacts Chris SullivanCraft & Capitalchris@ Sign in to access your portfolio
South China Morning Post
13-03-2025
- Business
- South China Morning Post
Wall Street slides, S&P 500 in correction as Trump trade war escalates
Wall Street ended sharply lower on Thursday and the S&P 500 confirmed it is in a correction after cool inflation data was overshadowed by fears that the escalating, hydra-headed tariff war being waged by the US against its biggest trading partner could reignite inflation and tip the economy into recession. Advertisement A broad sell-off sent all three major US stock indexes tumbling, with losses in tech and tech-related megacap shares dragging the Nasdaq down most. 'Sentiment's terrible,' Mike Dickson, head of research at Horizon Investments in Charlotte, North Carolina. 'There's new tariff headlines every day, and that's weighing on things.' 'And you're seeing it most acutely in some of the more sensitive areas of the market like the fairly inflated Magnificent 7,' Dickson added. 'It doesn't feel great out there right now.' The S&P 500 closed more than 10 per cent below its February 19 record closing high, confirming the bellwether index has been in a correction since then. Advertisement On March 6, the Nasdaq confirmed it is in a correction by closing 10.4 per cent lower than its all-time closing high reached on December 16.
