Sector Update: Financial Stocks Higher in Afternoon Trading
Sector Update: Financial Stocks Higher in Afternoon Trading
Sector Update: Financial Stocks Higher in Afternoon Trading
The trading day is just about over, but the market action never ends. Julie Hyman and Josh Lipton take investors through the finally trading hour of Friday, July 12, on this episode of Market Domination. Barclays analyst Jason Goldberg joins the program to talk about banking industry trends potentially outlined in this morning's second quarter earnings out from JPMorgan Chase & Co. (JPM), Citigroup (C), and Wells Fargo (WFC). F/m Investments CEO Alex Morris discusses his winners and losers for REITS, or real estate investment trusts, in today's segment of Good Buy or Goodbye. Other top trending tickers on the Yahoo Finance platform include Deckers Outdoor (DECK), EVgo (EVGO), Tesla (TSLA), Royal Caribbean Cruises (RCL), and AT&T (T) and Snowflake (SNOW) after the telecom company divulged the details of major data breach from April. This post was written by Luke Carberry Mogan.
Stocks (^DJI, ^IXIC, ^GSPC) open Friday's session higher, the S&P 500 eyeing to return above its benchmark high of 5,600. Treasury yields (^TYX, ^TNX, ^FVX) are reacting to this morning's Producer Price Index (PPI) inflation data. Seana Smith and Brad Smith recap index movements after the opening bell while Jared Blikre monitors the energy sector (XLE) and crude oil (CL=F, BZ=F) upward price momentums. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.
It's full steam ahead for stocks (^DJI, ^IXIC, ^GSPC) seeking to close out the day after taking in Thursday morning's Consumer Price Index (CPI) report for the month of June. Julie Hyman and Josh Lipton have compiled the perfect itinerary of top industry movers and market themes for active investors in today's episode of Market Domination. The show starts off with Hennion & Walsh CIO Kevin Mahn outlining the next big sector that could play a pivot role in the AI trade: utilities (XLU) State Street Global Advisors chief economist Simona Mocuta explains where risks may still lie for US consumers in the current economic environment as Federal Reserve officials prepare to possible cut interest rates. Yahoo Finance senior columnist Rick Newman later comes onto the program to discuss how close President Biden is to completing his four-year term without a recession, and while the Fed nears its 2% inflation target to boot. Other top trending tickers on the Yahoo Finance platform include Delta Air Lines (DAL) since reporting second quarter earnings this morning; QuantumScape (QS) and Volkswagen (VOW.DE, VWAGY) after forming a partnership on lithium EV batteries; and Tesla (TSLA). This post was written by Luke Carberry Mogan.
The AI trade keeps on spinning as Big Tech names continue to defy expectations and show they may have even more room to grow. These AI plays aren't only driving market indexes higher along with hardware demands, but also the need for energy to power this next generation of tech. Hennion & Walsh CIO Kevin Mahn joins Market Domination to give insights into artificial intelligence themes, why it has much more room to grow, and whether investors should start to consider utilities (XLU) as the next long-term play for AI. "No one's looked at utilities for the better part of the last three years as [interest] rates have risen. Guess what happens as rates come down? All of a sudden, that utility that pays 4.5, 5% looks pretty attractive again. And it's also another way to play the AI game, remembering that these data centers that power all of these massive algorithms in AI, they rely upon utilities that supply the electricity solutions that they need." He follows that sentiment up by stating: "So I think there's another good way to play in those areas of the market that still are trading at attractive valuations, pay good dividends, can weather an economic slowdown, and will offer more upside, perhaps even more so than what we've seen from technology already." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Nicholas Jacobino
The Consumer Price Index (CPI) for June showed prices decline 0.1% month-over-month. From a year ago, the index rose 3%, the lowest level in 3 years. Summer is making itself known with rising temperatures and balmy weather. What do broader inflationary trends mean for Americans' electric bills? Rachelle Akuffo breaks down which states may see significant increases in their residents' electric utility costs. Costco (COST) announced it will be hiking its membership fees for the first time since 2017. Costco's annual membership will cost $65, effective September 1. Additionally, annual fees for executive memberships in the US and Canada will increase from $120 to $130. Mahoney Asset Management CEO Ken Mahoney joined the show to share his insights on investing strategies in the current market environment as well as give insight into the tech sector and which of the Magnificent Seven need to be in focus for investors. The IRS (Internal Revenue Service) is ramping up its collection enforcement, announcing a "major milestone" of more than $1 billion collected in past-due taxes from American millionaires with over $250,000 in tax debt. According to The US Consumer Price Index (CPI) for June, food-away-from-home (FAFH) was at 4.1%, an increase of 0.4% month-over-month, with alcoholic beverages rising 0.2% month-over-month. F&B Insights VP of strategic partnerships Noah Tracht joined the show to give insight into the rise of food inflation and how its impacting consumers and the broader market. For more expert insight and the latest market action, click here. This post was written by Nicholas Jacobino
Summer is making itself known with rising temperatures and balmy weather. Air conditioning usage and the heat aren't the only factors driving up your electricity bill. As inflation fell by 0.1% month-over-month in June, what does this mean for broader electricity costs? Yahoo Finance senior reporter Rachelle Akuffo details the month-over-month easing in electricity prices — offset by a 4.4% annual rise — and which states will see the biggest electric bills this summer. According to June's Consumer Price Index (CPI) report, energy prices actually fell by 2.0% in June while rising 1.0% year-over-year. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Luke Carberry Mogan.
See which emerging markets countries are beating the U.S. stock market.
TD Cowen has raised its price targets on Big Tech names Meta Platforms (META), Alphabet (GOOG, GOOGL), and Amazon (AMZN) ahead of their second quarter earnings reports. Market Domination anchors Josh Lipton and Julie Hyman break down TD Cowen analysts' calls on these major tech players. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Nicholas Jacobino
The second quarter earnings season is set to kick off this Thursday with industry leaders such as Delta Air Lines (DAL) and PepsiCo (PEP) offering insights into the transportation and consumer goods sectors. The financial sector will take center stage on Friday, with banking giants JPMorgan Chase (JPM) and Wells Fargo (WFC) scheduled to unveil their quarterly results. As the earnings season unfolds, investors are particularly focused on what these reports might reveal about market concentration concerns. Of special interest is the performance of the Magnificent Seven stocks — the grouping of major tech companies — that have disproportionately driven market gains (^DJI, ^IXIC, ^GSPC) in recent months. Catalysts anchors Seana Smith and Madison Mills break down the details. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Angel Smith