Latest news with #KeithLerner
CNBC
2 days ago
- Business
- CNBC
Watch CNBC's full interview with Truist's Keith Lerner and Trivariate's Adam Parker
Truist's Keith Lerner and Trivariate's Adam Parker joins 'Closing Bell' to discuss the latest news affecting markets.
CNBC
16-05-2025
- Business
- CNBC
AI is the big story that got pushed aside amid tariff uncertainty, says Truist Wealth's Keith Lerner
Bob Elliott, Unlimited Funds CEO, and Keith Lerner, Truist Wealth co-chief investment officer, join 'Closing Bell Overtime' to discuss this week's market action, how tariff uncertainty affected the market, and more.
Yahoo
12-05-2025
- Business
- Yahoo
Wall Street's worst fears over Trump's trade war just faded
Stocks roared on Monday as investors' worst fears over an escalating trade war between the US and China eased. Truist CO-CIO Keith Lerner described Monday's stock rally as the market reacting to a temporary truce between the two countries that was simply "better than expectations." "Markets are all about expectations," Lerner said. "And relative to expectations, the short term news is better. And it's at a time when the market, I would say more broadly, the Street, is not positioned for this outcome." By mid morning, the S&P 500 (^GSPC) had soared nearly 3%, while the Dow Jones Industrial Average (^DJI) surged more than 2%, or around 1,000 points. The tech-heavy Nasdaq Composite (^IXIC) led gains, rocketing 3.6%. A weekend of negotiations between the US and China resulted in a 90-day pause on the bulk of tariffs both nations had placed on each other. The move means a temporarily drop in the US tariff rate on Chinese goods from as high as 145% to 30%. The reprieve also slashes China's retaliatory duties on the US from 125% to 10%. Treasury Secretary Scott Bessent made clear through a series of interviews on Monday that "neither side wants a decoupling" of trade between the two nations. Bessent also added that the 90-day pause could be extended further "as long as there is good faith effort, engagement, and constructive dialogue, then we will keep moving forward." The news sent stocks ripping higher as many on Wall Street had been noting for several weeks that news on tariff agreements between the US and other countries remains a key market catalyst. "This was sort of the ultimate positive catalyst in terms of getting a pretty meaningful pause with a pretty meaningful trade partner," Charles Schwab senior investment strategist strategist Kevin Gordon told Yahoo Finance. Recent laggards amid the massive drawdown seen leading into, and after, President Trump's initial April 2 tariff announcement were among the market leaders on Monday. The small-cap Russell 2000 index (^RUT) was up about 3.6%. Moves like this will be key to watch moving forward to see if the market rebound has further legs, Gordon said. "The stage that we're at right now, after you go through that big washdown and you start to see some breadth thrust, this is really the time that you need to see those laggards pick up for that bull market to look a lot more sustainable," Gordon said. Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer. 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
12-05-2025
- Business
- Yahoo
Wall Street's worst fears over Trump's trade war just faded
Stocks roared on Monday as investors' worst fears over an escalating trade war between the US and China eased. Truist CO-CIO Keith Lerner described Monday's stock rally as the market reacting to a temporary truce between the two countries that was simply "better than expectations." "Markets are all about expectations," Lerner said. "And relative to expectations, the short term news is better. And it's at a time when the market, I would say more broadly, the Street, is not positioned for this outcome." By mid morning, the S&P 500 (^GSPC) had soared nearly 3%, while the Dow Jones Industrial Average (^DJI) surged more than 2%, or around 1,000 points. The tech-heavy Nasdaq Composite (^IXIC) led gains, rocketing 3.6%. A weekend of negotiations between the US and China resulted in a 90-day pause on the bulk of tariffs both nations had placed on each other. The move means a temporarily drop in the US tariff rate on Chinese goods from as high as 145% to 30%. The reprieve also slashes China's retaliatory duties on the US from 125% to 10%. Treasury Secretary Scott Bessent made clear through a series of interviews on Monday that "neither side wants a decoupling" of trade between the two nations. Bessent also added that the 90-day pause could be extended further "as long as there is good faith effort, engagement, and constructive dialogue, then we will keep moving forward." The news sent stocks ripping higher as many on Wall Street had been noting for several weeks that news on tariff agreements between the US and other countries remains a key market catalyst. "This was sort of the ultimate positive catalyst in terms of getting a pretty meaningful pause with a pretty meaningful trade partner," Charles Schwab senior investment strategist strategist Kevin Gordon told Yahoo Finance. Recent laggards amid the massive drawdown seen leading into, and after, President Trump's initial April 2 tariff announcement were among the market leaders on Monday. The small-cap Russell 2000 index (^RUT) was up about 3.6%. Moves like this will be key to watch moving forward to see if the market rebound has further legs, Gordon said. "The stage that we're at right now, after you go through that big washdown and you start to see some breadth thrust, this is really the time that you need to see those laggards pick up for that bull market to look a lot more sustainable," Gordon said. Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer. 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
08-05-2025
- Business
- Yahoo
Eli Lilly falls, Arm reacts to chip curbs, D-Wave skyrockets
Eli Lilly (LLY) shares take a dip after Politico reports that President Trump will sign a new executive order around drug prices. Among chip stocks, Arm Holdings (ARM) slips lower after it was announced the Trump administration plans to repeal Biden-era curbs on AI chip exports. D-Wave Quantum (QBTS) stock surges by over 26% Thursday morning after the quantum computing company reported first quarter revenue soared by 509% year-over-year. Madison Mills and Truist Co-Chief Investment Officer and Chief Market Strategist Keith Lerner take a look at these top trending stocks. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. It's now time for some of today's trending tickers. This morning we are watching Eli Lilly arm and D Wave. First up here, Eli Lilly falling after political reporting that President Trump is expected to sign an executive order to revive an effort to dramatically slash drug costs by tying the amount the government pays for some medicines to lower prices abroad. The order is expected to direct AIDS to pursue the initiative for a selection of drugs within the Medicare program. It could come as soon as next week. And it's also interesting, of course, amid concerns about whether or not tariff policies are going to impact these pharma stocks. I'm still joined here by Keith Lerner of Truist. Keith, how are you thinking about a sector like pharma when there is such a question mark about obviously tariff policy, but then you also have Medicare prices and that policy as well? Yeah, we, uh, I think healthcare is one of the most trickiest sectors. We call it the Charlie Brown sectors. Every time it feels like it's going to start going the right direction, Lucy takes the ball. And the other thing with that sector that's a, you know, a challenge is that the more money some of these companies make, the more the governments push against those prices. So it seems like we have these great demographic secular tail winds that it should do really well, but you have a lot of competition, the regulations change often, policy changes and you're in the cross hairs of a lot of movements. So I mean we're neutral the sector. I want to be positive there, but again, I'm just afraid that Lucy's going to take the ball again from me next time I try to upgrade the sector. That's a great point. I feel like I've been hearing people say buy healthcare for years now and we haven't necessarily seen that pop a lot of headwinds in the sector here. But next up, we are watching chip stocks as the Trump administration plans to rescind global chip export restrictions put in place under the Biden administration. They were set to take effect May 15th. Scrapping the so-called AI diffusion rule would provide opportunities for countries to negotiate their own chip access. This is separate from the curbs on China, which the Trump administration has continued to maintain. Though I do also want to talk specifically about arm here. You can see those shares moving to the downside. The company was down as much as 10% in the pre-market after issuing a weaker than expected outlook. The forecast from the company raising concerns about tariffs leading to a slowdown overall. And Keith, as you know, this comes as the chip sector has already been under a lot of pressure due to a lot of headwinds, cyclical macro uncertainty, and then of course, chip curbs as well. How are you thinking about the sector? Well, the first thing which you acknowledged already is that they peaked last July. So this isn't a new story and partly because they outperformed by so much. I think the challenge right now with the chip side is that not only the terrorist, but also there's more competition than we thought before. And the question is really about margins going forward, especially as you think about like an Nvidia, like are they going to be able to hold these margins where they are? So I mean, even when we look at things from a fundamental and also a technical level, from a technical level, they are still on a relative basis not as strong. Going back to the point I said earlier, we would much prefer I'm sorry, software where we think that the the spend and the and the and the usage will continue to rise in a meaningful way and they're a little bit less, um, have that headwind on the terrorist side as much. So listen, I think, you know, they've been beat up. Maybe we're getting oversold bounce, but I don't think it's leadership in this market right now. All right. Well, interesting to see whether or not the tariffs are going to impact super computers moving forward. Let's talk about exactly that. D Wave reporting record quarterly revenue up more than 500% year over year in the first quarter. The CEO calling it the most significant quarter in the quantum computing company's history. Taking a look at those shares up over 26%. Again, record first quarter revenue, posting a narrower quarterly loss than expected here. And Keith, this is something that analysts have been telling me is potentially the next big AI play. Like this could be the future AI play if we do get these super computers coming in from a company like D Wave. What would you say if a client asked you about that? If they asked you, okay, should I invest in a company like D Wave because it's the future of AI? Well, there's always this falls into the category of like these story stocks. And the technology is real. There's also been a big debate, you know, as far as is it five years away? Is it 10 years away? Is it 15 years? So I think it's listen, I think that quantum computing is coming. It's going to be probably revolutionary. The question is how quickly? And again, people a lot smarter than me have a big debate when. So I would say it'd be okay if you want to have that as more of like a high beta part of the portfolio, but it wouldn't be the core. I would still, I think I would still be focused on some of these large cap companies that have big balance sheets that can kind of get through some of this uncertainty and they have more than one kind of business line as well. And also, I think anytime you have one of these new technologies, it's hard to know who the winners are going to be. So maybe what you do is you stick with the kind of a core in these like core large cap tech companies and you have a smaller basket knowing maybe out of the three or four that you have, maybe the one that's really going to do well will outperform maybe some of the losses you have on the other side.
