Latest news with #JedEllerbroek
Business Recorder
a day ago
- Business
- Business Recorder
Wall St falls as Israel's strikes on Iran erode risk appetite
NEW YORK: Wall Street's main indexes fell on Friday after Israel struck a series of nuclear facilities and missile factories in Iran, escalating tensions in the oil-rich Middle East and undermining global investor confidence. Israel's attacks were aimed at preventing Tehran from building an atomic weapon, while Iran has promised harsh reprisals. Oil prices surged nearly 7% on fears the conflict could disrupt crude supply from the Middle East. US energy stocks rose in tandem, with Exxon up 1.7% and Diamondback Energy rising 3.2%. Airline stocks dropped on fears that fuel costs could surge if bottlenecks squeezed supply. Delta Air Lines was down 2.1%, United Airlines fell 2.6% and American Airlines declined 3.2%. Defense stocks climbed, with Lockheed Martin up 3.4%, RTX Corporation gaining 3.3% and Northrop Grumman rising 3.5%. 'I think the market understands that this is a continuation of the war between Iran and Israel... I don't think the market expects it to escalate too dramatically from here,' said Jed Ellerbroek, portfolio manager at Argent Capital Management. At 11:38 a.m. ET, the Dow Jones Industrial Average fell 453.51 points, or 1.06%, to 42,514.11, the S&P 500 lost 32.29 points, or 0.53%, to 6,012.97, and the Nasdaq Composite dropped 127.05 points, or 0.65%, to 19,535.43. Eight of the 11 major S&P 500 sub-sectors fell. Energy stocks gained 1.3%, while financials was the worst hit with a 1.5% drop. The S&P 500 and the Nasdaq were set to log their third week of gains, while the Dow was on track for its first weekly loss in three weeks. Photoshop-maker Adobe fell 5.2% despite raising its full-year results forecast. Most megacap and growth stocks declined. Nvidia was 1.5% lower and Apple lost 0.8%. Visa shares hit a more than four-week low and were last down 5.2%. Shares of Boeing fell nearly 2%, weighing on the blue-chip Dow. US-listed shares of gold miners rose tracking an increase in bullion prices. Newmont gained 2.4%, while AngloGold Ashanti added 3.1%. The S&P 500 was 2.1% below its record high reached earlier this year, after upbeat corporate earnings and a softening in US President Donald Trump's trade stance drove stellar monthly gains in May. The tech-heavy Nasdaq is about 3.2% off its record closing high reached in December last year. A tame consumer price report, softer-than-expected producer price data and largely unchanged initial jobless claims earlier this week helped calm investor jitters around tariff-driven price pressures. However, US Federal Reserve policymakers are widely expected to keep interest rates unchanged at their meeting next week.
Yahoo
27-05-2025
- Business
- Yahoo
Microsoft (MSFT) and Nvidia (NVDA) Named as Top Picks by Veteran Investor
Microsoft Corporation (NASDAQ:MSFT) and Nvidia Corporation (NASDAQ:NVDA) are top picks at this point for Argent Capital Management portfolio manager Jed Ellerbroek, Jr. During a recent appearance on the Schwab Network, Ellerbroek explained why he's upbeat on those names. According to the portfolio manager, Microsoft Corporation (NASDAQ:MSFT) was "beat up pretty severely earlier this year because" of worries about the growth of its cloud unit, Azure. But by providing "good guidance" for Azure while unveiling its most recent quarterly earnings, MSFT "dispelled those fears," the investor explained. Moreover, Microsoft Corporation (NASDAQ:MSFT)'s "core products and its Copilot products continue to roll out nicely,"Ellerbroek reported. Turning to Nvidia Corporation (NASDAQ:NVDA), the stock picker said that the tech giant is " finding entire new customer groups for What's more, President Donald Trump's recent trip to the Middle East showed that governments are interested in investing significant amounts in AI, Ellerbroek told Schwab Network. While we acknowledge the potential of MSFT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MSFT and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. 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
Yahoo
23-05-2025
- Business
- Yahoo
United Rentals a 'natural choice' amid AI construction projects
US equities (^DJI, ^IXIC, ^GSPC) took a hit in Friday's session after President Trump threatened a new 50% tariff against European Union (EU) nations. The indexes ended up closing out the trading week at a loss of over 2% each. Argent Capital Management Portfolio Manager Jed Ellerbroek comes on Market Domination to discuss his latest stock picks in industrial equipment company United Rentals (URI), Oracle (ORCL), and — ahead of its earnings release on Wednesday, May 28 — Nvidia (NVDA). To watch more expert insights and analysis on the latest market action, check out more Market Domination here. 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
The Star
01-05-2025
- Business
- The Star
U.S. stocks close higher on strong earnings, AI optimism
NEW YORK, May 1 (Xinhua) -- U.S. stocks ended higher on Thursday, as robust earnings from major technology firms and aggressive plans for artificial intelligence investments lifted investor sentiment. The Dow Jones Industrial Average rose 83.60 points, or 0.21 percent, to 40,752.96. The S&P 500 added 35.08 points, or 0.63 percent, to 5,604.14. The Nasdaq Composite Index increased by 264.40 points, or 1.52 percent, to 17,710.74. Seven of the 11 primary S&P 500 sectors ended in green, with technology and communication services leading the gainers by adding 2.21 percent and 1.55 percent, respectively. Meanwhile, health and consumer staples led the laggards by losing 2.79 percent and 0.78 percent, respectively. Leading the charge were shares of Microsoft and Meta Platforms, both of which reported better-than-expected quarterly results after the close on Wednesday. Microsoft surged 7.63 percent, while Meta gained 4.23 percent, as investors cheered their strong performance and ambitious AI spending outlooks. Nvidia, a major beneficiary of the AI boom, climbed 2.47 percent, boosted by the positive signals from Microsoft and Meta regarding continued infrastructure investments. Broadcom rose 2.53 percent, Alphabet added 1.18 percent, while Tesla edged lower. "Few stocks are truly immune to Trump tariffs and trade war, but AI is a lot less impacted than investors currently believe," said Jed Ellerbroek, portfolio manager at Argent Capital Management. "We're early in a very steep growth curve right now, and that goes for AI infrastructure." Amazon and Apple, both set to release their earnings after Thursday's close, were also in focus. Outside of tech, McDonald's reported disappointing first-quarter earnings and a decline in U.S. sales, citing the impact of tariffs on consumer behavior. McDonald's CEO Chris Kempczinski noted that Americans are "grappling with uncertainty," which weighed on spending. Shares of the fast-food giant fell 1.86 percent. On the economic front, data was light, but the U.S. weekly jobless claims came in higher than expected, raising fresh concerns about underlying weakness in the labor market. Investors were also monitoring manufacturing indicators ahead of Friday's highly anticipated April jobs report. The 10-year U.S. Treasury yield ticked up to 4.218 percent as of 4:30 p.m. EDT, after falling to 4.18 percent on Wednesday, its lowest level since early April, reflecting ongoing shifts in expectations around economic growth and interest rate policy.
Yahoo
12-04-2025
- Business
- Yahoo
How One of the Wildest Weeks in Market History Unfolded
The biggest one-day rally since the financial crisis. The most volatile stretch since the Covid meltdown. A bond selloff that sent yields surging. A steep slide in the dollar. And rattled investors driving gold to new records. Yet one of the most tumultuous weeks in years for financial markets ended with all three major U.S. indexes up 5% or more. The Fox Host Whose Show Caught Trump's Attention During Tariff Meltdown Wall Street Sounds an Alarm: The Economy Is at Risk Thanks to Tariffs The Simple Explanation for This Week's Treasury Market Mayhem How Nintendo Is Navigating Tariff Chaos With Secret Shipments and New Factories Four Questions You Should Ask to Combat the Market Chaos For Wall Street, it was a bruising run. Traders described scenes of tension, where the rapid surges and dives made it difficult to determine the prices of various investments. And the sheer violence of the moves left many exhausted and bracing for more trouble ahead. With the Dow Jones Industrial Average ending Friday on a 600-plus point gain, Jed Ellerbroek, portfolio manager at Argent Capital Management in St. Louis, said the declines earlier this week and last had clients calling to ask whether or not to buy more shares. Meanwhile, he grew concerned watching individual investors pumping more money than usual into big stock funds. Such investors might be expecting a scenario like the 2020 Covid crash, which was short-lived and led to an epic rally. They might have forgotten how stocks fell more than 50% in the 2008 crash and took years to recoup the losses, Ellerbroek said. 'That leaves me feeling like this downturn probably has more to go,' he said. The S&P 500 rose 1.8% on Friday to end the week up 5.7%. The tech heavy Nasdaq Composite increased 2.1%, for a weekly gain of 7.3%. The blue-chip Dow added 1.6% Friday to lift its weekly rise to 5%. All three indexes remain below where they were trading when President Trump launched his tariff blitz last week from the White House Rose Garden. All three are down on the year. The volatility began last week after Trump shocked investors, economists, business leaders and trade partners with a barrage of tariffs that were far steeper than anyone expected. A four-day selloff ensued, but it was Wednesday when the wild ride peaked. A sharp climb in Treasury yields was alarming investors ahead of the opening bell Wednesday when Trump took to social media to say that it was 'a great time to buy.' By the day's end, U.S. stocks had staged a historic rally after another online post from the president announced a 90-day pause on some tariffs and signaled a willingness to negotiate on trade. The result was a surge so extreme that investors said it echoed prior incidents in which stocks rallied sharply in times of stress, only to tumble to steeper losses. The Nasdaq gained more than 12% Wednesday for its biggest climb since January 2001, during a short-lived bounce in the bust. The S&P 500 added 9.5% for its best day since October 2008. The Dow's 7.9% climb on Wednesday was its biggest daily gain in percentage terms since March 2020, when traders bid up shares before that April's collapse. Much of Wednesday's gains were reversed Thursday as Trump further escalated economic conflict with China and it became clear on Wall Street that the trade war was far from over. Friday also began on a down note, after the University of Michigan's closely watched gauge of consumer sentiment nosedived from last month to register one of the weakest readings of the past decade on concerns about trade, employment and inflation. But the declines didn't last long. Solid first-quarter earnings from some of the country's largest financial firms, including Morgan Stanley, JPMorgan Chase and BlackRock, offered a tailwind even as their executives warned that Trump's trade restrictions put the economy at risk. JPMorgan shares rose 4%. BlackRock and Morgan Stanley gained 2.3% and 1.4%, respectively. Rising bond yields left investors newly worried about the country's massive federal budget deficit, its dependence on foreign funding and its growing reliance on hedge funds, which have bought U.S. Treasurys with large amounts of debt. All of these challenges contributed to an aggressive selloff in Treasurys that only modestly slowed after Trump's announcement. The yield on the 10-year Treasury, a key reference for borrowing costs throughout the economy, posted its biggest one-week surge since November 2001—climbing half a percentage point to just under 4.5%. The yield on the 30-year bond had its sharpest weekly climb since April 1987, ending Friday at 4.873%. The sight of stock and bond prices falling sharply in unison unnerved many investors, raising fears of a potential breakdown in the normal functioning of Treasurys, which are typically a haven in turbulent markets. As prices of Treasurys plunged so too did the value of the dollar, with traders favoring other currencies such as the euro. Foreign central banks hold dollars in part because they like investing in Treasurys, which are typically easier to buy and sell than the bonds issued by other governments. 'The price action seemed nearly impossible,' said Michael Lorizio, a Treasurys trader at Manulife Investment Management. 'It seemed like there was something I was missing.' Many investors sought refuge instead in gold. Futures rose 2.1% to settle at a new all-time high of $3,222.20 a troy ounce, lifting mining stocks. Freeport-McMoRan added 6.4%. Newmont climbed 7.9% on Friday for a weekly gain of 24%. Prices for oil, copper and other commodities also increased Friday, though they have been as volatile as stocks lately. Benchmark U.S. oil futures added $1.43 a barrel Friday to settle at $61.50. That is down 0.8% on the week but 14% lower this month. Prices that low threaten the domestic oil industry's ability to drill new wells profitably. But the declines in crude, as well as diesel and gasoline prices, has sent big fuel consumers, like fishing fleets and trucking firms, rushing to cap their prices with futures trades, said Charlie Macnamara, head of commodities at U.S. Bank. 'People are locking in those prices,' he said. 'They're trying to just go with certainty over chaos.' Write to Ryan Dezember at and Sam Goldfarb at 'From Anxious to Petrified': Consumer Sentiment Plunges Further Market Rout Shatters Long-Held Beliefs on Investing Can Trump's Tariff Offensive Deliver New American Jobs? 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