Latest news with #PeterAndersen
Perth Now
11 hours ago
- Business
- Perth Now
Wall St dips as producer inflation data hits rate bets
Wall Street's main indexes have declined after a hotter-than-expected producer prices report dampened investor expectations of potential interest-rate cuts by the Federal Reserve this year. A Labor Department report showed the Producer Price Index rose 3.3 per cent on an annual basis in July, higher than the 2.5 per cent gain expected by economists polled by Reuters. On a monthly basis, it rose 0.9 per cent compared with an estimated 0.2 per cent rise. Traders lowered their Fed rate-cut expectations for the rest of the year to about 58 basis points, according to data compiled by LSEG, compared with about 63 bps before the report. But they are still fully pricing in a quarter-percentage-point cut in September. "It's sending a mixed message about the economy," said Peter Andersen, founder of Andersen Capital Management in Boston. "We have been too anxious to draw a conclusion that the economy is fine, it's not overheated. But this wholesale data does show that perhaps there is some inflation working and we shouldn't be so quick to conclude that we need to cut interest rates." In early trading on Thursdsay, the Dow Jones Industrial Average fell 164.29 points, or 0.37 per cent, to 44,757.98, the S&P 500 lost 16.84 points, or 0.26 per cent, to 6,449.74 and the Nasdaq Composite lost 22.69 points, or 0.10 per cent, to 21,690.45. Recent data reflecting labour market weakness and a moderate rise in consumer prices had strengthened expectations that the central bank will potentially lower interest rates next month. However, Thursday's report fanned concerns that US tariffs on imports could start to affect prices in the coming months and dampen a rally in US stocks that had helped the benchmark S&P 500 and tech-heavy Nasdaq log record highs over the past two sessions. On Thursday, nine of the 11 S&P 500 sectors declined, with materials, down 1.2 per cent, falling the most. Rate-sensitive small-caps and housing stocks also dropped more than 1.0 per cent each. Separate data showed the number of people in the US filing new applications for jobless benefits fell last week amid low lay-offs. A report also showed San Francisco Fed president Mary Daly pushed back against the need for a 50-basis-point interest rate cut next month, a day after Treasury Secretary Scott Bessent said an aggressive half-point cut was possible. Cisco Systems lost 1.0 per cent after the network equipment manufacturer's broadly in-line forecast did little to encourage investors. Deere & Co fell 8.0 per cent after the farm-equipment maker reported a lower quarterly profit and tightened its annual profit forecast while Tapestry plunged 17.6 per cent after the Coach handbag maker forecast annual profit below estimates. Both companies warned of tariffs affecting their business. Later in the day, investors will also tune into remarks from St Louis Fed President Alberto Musalem, a Federal Open Market Committee voting member this year. Declining issues outnumbered advancers by a 5.05-to-1 ratio on the NYSE and by a 3.38-to-1 ratio on the Nasdaq. The S&P 500 posted four new 52-week highs and no new lows while the Nasdaq Composite recorded 24 new highs and 31 new lows.
CNBC
2 days ago
- Business
- CNBC
'Big beautiful bill': These are the sectors investors are betting on and avoiding in a new fiscal era
The "One Big Beautiful Bill" has drawn mixed reactions on Wall Street, but for some investors, it represents a blueprint for a new phase of U.S. economic policy. The bill , which is characterized by extensive tax reforms and selective incentives, is forecast to add to the federal deficit and has drawn criticism and triggered warnings from credit agencies. Strategists CNBC spoke to say they believe the bill is more than just another round of stimulus, and investors are making clear sectoral bets. 'A pivot point' Peter Andersen, founder of Andersen Capital Management, calls the bill "a pivot point," arguing that the U.S. is "moving from monetary stimulus to fiscal muscle." The government is shifting away from relying on the Federal Reserve's near-zero interest rates and bond-buying programs to boost the economy, and turning instead to targeted government spending. He said infrastructure is "the most exciting aspect" of the bill's national security emphasis. That, he added, involves not just "bridges and bombs," but also firewalls and data security. The OBBB is allocating roughly $150 billion in defense aimed at bolstering industry capacity, including funding for drones, military infrastructure and artificial intelligence. "Cybersecurity will be the new front line of national power," he said. His portfolio of 14 high-conviction stocks include s four cybersecurity names, including Palo Alto and CyberArk , and an equipment rental company with clients in the manufacturing industry, United Rentals . Industrials and technology plays Similarly for Tat Wai Toh, head of portfolio strategy at RBC Wealth Management Asia, the bill signals "the next fiscal supercycle" — one built on structural industrial policy rather than short-term stimulus. "This is more than infrastructure repainting. It's a restructuring of industrial policy, with AI, defense, logistics, and electrification at its core," he said. RBC is overweight on sectors that "dig, build, ship, power, and protect," including heavy electricals, infrastructure, oilfield services, defense, and banks which Toh believes are poised to benefit from rising loan demand. Likewise, Robert Teeter, managing director and chief investment strategist of Silvercrest Asset Management Group, said industrials and energy infrastructure are immediate beneficiaries of the bill. "It's certainly a new fiscal cycle and a new fiscal stimulative cycle," he said. The bill is boosting tax provisions designed to spur capital investment in U.S. manufacturing , such as full expensing for research and development and factory structures. He also highlighted that the tech sector stands to gain from incentives for R & D and productivity improvements, with benefits spreading from AI hardware providers to companies deploying the technology. His firm stayed overweight on equities through recent tariff-related volatility in anticipation of the bill's passage, favoring technology, industrials, and small caps. Too optimistic? However, not all investors believe that the bill heralds that much of a positive change. Cody Willard, general manager of CL Willard Capital Partners, is less convinced that the OBBB is a transformational catalyst on its own. "I think that's too optimistic," said the hedge fund manager. "It's more of a continuation of constant fiscal spending and infrastructure improvement promises from the U.S. Government." The administration appears intent on "running it hot" with large deficits and lower rates, pushing the U.S. into "a state of fiscal dominance whereby monetary policy must remain servile to the Treasury's funding needs," said Sprott Asset Management market strategist Paul Wong. The likely outcome, Wong argues, is negative real yields, structural dollar weakness, and a shift toward real assets. "The long term winner is real assets, as the USD is heading lower. Long bonds are most at risk," he said. Real assets include gold, oil and real estate. Sprott's portfolios are "well positioned" in precious metals — both gold and silver — which the firm believes will continue to perform well in the current market environment. They also hold uranium, copper, and rare earths to capture geopolitical and energy policy shifts. Underweight sectors In fact, some sectors face clear downsides from the OBBB. One area investors are underweight on is clean technology. "Any investors that are looking at solar power, wind power, I think that probably will not be great positions to be in," said Andersen. In a similar vein, Teeter said the sector "loses a lot of benefits in the legislation" and may lag in the near term. For one thing, the bill accelerates the phasing out of solar and wind projects via the clean energy production tax credit and investment tax credit, imposing much tighter deadlines for eligibility. On top of that, it introduces stringent "foreign entity of concern" restrictions, limiting eligibility for clean energy projects, if they are owned or materially assisted by entities from countries such as China, Iran and Russia. RBC's Toh also said he believes that hospitals and managed care sectors face reimbursement pressures.
Yahoo
31-07-2025
- Business
- Yahoo
Apple Rebound Looks Elusive as AI Woes Draw Investor Scrutiny
(Bloomberg) -- Apple Inc.'s earnings report is unlikely to give investors the catalyst they've been looking for to revive the iPhone maker's struggling stock price. The World's Data Center Capital Has Residents Surrounded An Abandoned Art-Deco Landmark in Buffalo Awaits Revival We Should All Be Biking Along the Beach Budapest's Most Historic Site Gets a Controversial Rebuild San Francisco in Talks With Vanderbilt for Downtown Campus The technology behemoth is expected to post profit and revenue growth that severely lags the industry when it reports its fiscal third-quarter results Thursday after the market closes. Apple shares are down almost 17% this year. Compounded by the lack of a strong artificial intelligence strategy, high exposure to tariff risk and regulators targeting its highly profitable relationship with Alphabet Inc., it's hard to see them rebounding any time soon — especially as they continue to trade at a premium valuation. 'Apple's embarrassing AI shows how it has lost its mojo with innovation, and the lack of innovation speaks to the lack of revenue growth, and that speaks to why we don't see upside in the stock,' said Peter Andersen, founder and chief investment officer of Andersen Capital Management. 'It is valued like a growth stock, but I'm very skeptical about the potential for a significant inflection in growth, and I think it will eventually lose that premium.' Analysts expect the company to report a 2.4% rise in quarterly profits on a 4.1% gain in revenues, according to data compiled by Bloomberg. The overall tech sector's anticipated earnings growth is 16.8% on a 13% jump in revenue, according to Bloomberg Intelligence. The stock dipped 0.2% on Thursday. This helps explain why Apple is among the 15 worst-performing stocks in the Nasdaq 100 Index this year and why it lags every one of the Magnificent Seven tech giants other than Tesla. But even with this year's slide, Apple's stock still trades at almost 28 times estimated earnings, higher than its 10-year average of 21. The shares are pricier than the Nasdaq 100 as well as megacap peers that are far better positioned in AI, like Alphabet, Meta Platforms, and Inc. Negative Sentiment The combination of tepid growth and a high valuation is why sentiment toward the one-time consensus favorite has become 'fairly negative,' according to Bank of America. In a sign of their historically weak momentum trends, shares have been below their 200-day moving average since March 10, a 98-session streak — as of Wednesday's close — that matches its longest since February 2023. Should it close below the key technical level on Thursday, that would represent its longest streak in almost a decade. Apple's failure to capitalize on AI is particularly important to investors, who are calling for a dramatic pivot in strategy. Many would like to see a management shakeup — or even a big acquisition, something Apple has historically shunned in favor of in-house development. The problem is Apple's in-house AI features, such as those unveiled at its Worldwide Developers Conference in June, have been delayed or underwhelmed. The company has reportedly considered using AI tech from outside companies to power a new version of its Siri digital assistant. Executives have also discussed making an offer for AI startup Perplexity AI, Bloomberg News reported last month. Apple's failure to establish a firm AI strategy stands in contrast to its big-tech rivals, which have largely carved out niches in the technology and have put up impressive earnings this season. After the market closed Wednesday, Microsoft reported significantly better-than-expected revenue on the back of strong cloud demand, while Meta Platforms — which has poached major AI talent from Apple with substantial pay packages — posted healthy results and gave a far better than anticipated outlook. Both stocks soared. Last week, Alphabet said that strong demand for its AI services boosted quarterly sales. also reports Thursday after the close, and investors are looking for signs that AI is having an impact across the company's business, not only in its cloud-computing division, and improving efficiencies. 'It's hard to be excited about Apple when you can look to the other Magnificent Seven stocks and find double-digit growth that should continue for a while amid the AI wave, especially since those are often cheaper,' said Bill Stone, chief investment officer at Glenview Trust Co., who owns the stock but hasn't been adding to positions amid the selloff. 'Apple would be a lot more interesting if the multiple was lower, since it remains an extremely high-quality business with great cash flow and an ecosystem that will be tough to dislodge,' he added. 'But what finally gets growth going again is the biggest question.' Top Tech Stories Meta Platforms Inc. is taking advantage of its lucrative advertising business and stepping up spending next year, with executives saying now is the time to seize on investment opportunities in artificial intelligence. Apple iPhone exports to the US from India will remain untouched by Donald Trump's latest 25% tariffs on the South Asian nation, for now. Microsoft Corp. said it will spend more than $30 billion in the current quarter to build out the data centers powering its artificial intelligence services. EBay Inc. shares jumped after the company projected sales that topped analysts' estimates, suggesting optimism for continued consumer resilience at a time of shifting US tariff proposals. Qualcomm Inc., the biggest maker of chips that run smartphones, fell after reporting lackluster growth in that market, fueling concerns that tariffs will take a toll on the industry. Sam Altman OpenAI will expand its Stargate project to Europe with the construction of a new data center in Norway. Earnings Due Thursday Earnings Premarket: Arrow Electronics Inc. (ARW US) Comcast Corp. (CMCSA US) Insight Enterprises Inc. (NSIT US) InterDigital Inc. (IDCC US) Earnings Postmarket: Cohu Inc. (COHU US) Cable One Inc. (CABO US) DXC Technology Co. (DXC US) Appfolio Inc. (APPF US) Apple Inc. (AAPL US) Asure Software Inc. (ASUR US) Axt Inc. (AXTI US) Cloudflare Inc. (NET US) Dolby Laboratories Inc. (DLB US) Five9 Inc. (FIVN US) GSI Technology Inc. (GSIT US) Grid Dynamics Holdings Inc. (GDYN US) KLA Corp. (KLAC US) MicroStrategy Inc. (MSTR US) Monolithic Power Systems Inc. (MPWR US) Pros Holdings Inc. (PRO US) Rimini Street Inc. (RMNI US) Riot Platforms Inc. (RIOT US) Rogers Corp. (ROG US) Universal Display Corp. (OLED US) Workiva Inc. (WK US) --With assistance from Matt Turner and Subrat Patnaik. (Updates to afternoon trading.) Russia Builds a New Web Around Kremlin's Handpicked Super App Burning Man Is Burning Through Cash Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts ©2025 Bloomberg L.P. 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
Al Etihad
02-06-2025
- Business
- Al Etihad
Wall Street slips after Trump's steel tariff threat
2 June 2025 19:04 NEW YORK (REUTERS)Wall Street's main indexes dipped on Monday after President Donald Trump said he plans to double tariffs on imported steel and aluminum, fueling more uncertainty around U.S. trade said late on Friday he planned to increase tariffs on imported steel and aluminum to 50% from 25% starting Wednesday, just hours after he accused China of violating an of U.S. steel companies rose, with Cleveland-Cliffs jumping 28.3%, Nucor up 11.5% and Steel Dynamics 11.3% shares of automakers fell. Ford and General Motors both were down more than 4%."People have been thinking about that (steel tariffs) and trying to formulate the economic impact. It presents the markets with a lot of uncertainty right now," said Peter Andersen, founder at Andersen Capital increased levies risk deepening Trump's global trade war, and dousing enthusiasm in markets stemming from the U.S. president's softer trade stance that drove a recovery in risky assets last month.A temporary relief on some levies on China and a rollback of steep tariff threats on the European Union, along with strong earnings and improving economic picture helped the benchmark S&P 500 log its best monthly performance in 18 months in fueling risk-off moves in global markets, Kyiv struck some of Moscow's nuclear-capable bombers on Sunday, renewing concerns around further escalation of the 10:31 a.m. ET, the Dow Jones Industrial Average fell 208.46 points, or 0.49%, to 42,061.61, the S&P 500 lost 15.78 points, or 0.27%, to 5,895.91 and the Nasdaq Composite lost 10.10 points, or 0.05%, to 19, of the 11 major S&P 500 sub-sectors fell, with consumer discretionary stocks declining the most with an about 1% fall. On the flip side, energy rose 0.8% tracking a rise in oil prices.U.S.-listed energy stocks advanced after producer group OPEC+ kept output increases in July at the same level as the previous two megacap and growth stocks were down, with Tesla leading losses with a 2.5% decline after it reported lower monthly sales for Portugal, Denmark and the economic front, the Institute for Supply Management's (ISM) gauge of manufacturing activity came in at 48.5 for May, below estimates of 49.3, according to economists polled by will be on comments from Federal Reserve Chair Jerome Powell later in the day as he presents opening remarks before the Federal Reserve Board International Finance Division's 75th anniversary conference at 1:00 p.m. ET (1700 GMT).Investors are also looking ahead to a crucial nonfarm-payrolls report on Friday to gauge the U.S. labour market's strength amid tariff issues outnumbered advancers by a 1.84-to-1 ratio on the NYSE and by a 1.43-to-1 ratio on the Nasdaq. The S&P 500 posted 10 new 52-week highs and four new lows, while the Nasdaq Composite recorded 51 new highs and 63 new lows. Stock Markets Continue full coverage
Business Wire
13-05-2025
- Health
- Business Wire
TreeFrog Therapeutics Presents Delivery Strategy for Next Generation 3D Cell Therapy Format for Parkinson's Disease at the 28th Annual ASGCT Meeting in New Orleans
BORDEAUX, France--(BUSINESS WIRE)--TreeFrog Therapeutics, a French biotech specializing in cell therapy is the first company to present a clinical-ready delivery strategy for 3D microtissues cell therapy. The validated approach was demonstrated for their 3D neural microtissues cell therapy treatment for Parkinson's disease. "I am excited to present a validated strategy for 3D format cell therapy for Parkinson's disease which took 4 years of development and overcomes challenges to ensure homogenization and accurate dose delivery." Parkinson's disease is the second most common neurodegenerative disorder after Alzheimer's disease. It is a progressive disease characterized by the loss of dopaminergic neurons with a mix of motor symptoms (bradykinesia, rigidity, resting tremor) and non-motor symptoms (cognitive deficits, mood disorders, fatigue). Current treatments provide symptomatic relief only. There is a huge unmet need with a prevalence that has doubled in the last 25 years to an estimated 10 million sufferers, and it is expected to double again by 2050 1, 2. Research into cell replacement strategies for Parkinson's disease has been ongoing for decades and the promise of cell therapy in the disease has resulted in a dynamic clinical trial landscape. Since 2021, when there were 5 trials in Parkinson's disease, there have been 15 new trials initiated or planned 3. Most cell therapies rely on single-cell suspensions which, while still holding promise, face specific challenges such as elevated cell death due to anoikis. Next generation 3D formats such as the neural microtissues in development by TreeFrog have emerged as a potential solution as the microtissue is in itself a network, providing protection to the cells and facilitating transplantation. Peter Andersen, Chief R&D Officer, TreeFrog Therapeutics commented 'I am excited to present, for the first time, a validated delivery strategy for a 3D microtissue format cell therapy. The development took 4 years, and I am proud of what the cross-functional team has achieved. 3D formats have huge potential, but the team also had to overcome challenges such as faster sedimentation to ensure homogenization and accurate dose delivery. The team also focused on developing a device using existing components which will facilitate education of use for neurosurgeons and their teams.' To learn more about this delivery strategy, those attending the ASGCT can attend the poster session and exchange with Peter Andersen: Venue: On-site Poster Hall Title: Development of a Delivery Strategy for Neural Microtissues in Parkinson's Disease Cell Therapy (#2039) Link to Late-Breaking Abstracts ASGCT Abstracts About TreeFrog Therapeutics TreeFrog Therapeutics is a French-based regenerative medicine biotech set to unlock access to cell therapies for millions of patients with a lead program in Parkinson's disease. TreeFrog is unique in its approach to cell therapy development, bringing together biophysicists, cell biologists and bioproduction engineers to address the challenges of the industry - producing and differentiating cells of quality at unprecedented scale, cost-effectively. To succeed in their mission of Cell Therapy for all, TreeFrog operates a business model that includes its own therapeutic programs and partnerships with leading biotech and industry players. Since 2021, the company has raised $82 million to advance a pipeline of stem cell-based therapies in regenerative medicine. 1 2 Su D et al. Projections for prevalence of Parkinson's disease and its driving factors in 195 countries and territories to 2050: modelling study of Global Burden of Disease Study 2021. BMJ. 2025;388:e080952 3
