Latest news with #AdamCrisafulli
CNBC
02-07-2025
- Business
- CNBC
Position portfolios for policy and geopolitical uncertainties, says Wells Fargo's Scott Wren
Scott Wren, Wells Fargo senior global market strategist and Adam Crisafulli, Vital Knowledge founder, joins 'Closing Bell Overtime' to talk the day's market action.
CBS News
27-06-2025
- Business
- CBS News
Stock market opens in record territory as investors bet on trade deals, Fed rate cut
Leading stock market indexes opened in record territory, with investors buoyed by signs of progress on a U.S.-China trade deal. Shortly after the start of trade on Friday, the S&P 500 rose 14 points, or 0.2%, to 6,155 points, surpassing its previous all-time closing high in February of 6,144. The index also briefly edged above its previous record on Thursday in intraday trading. The Nasdaq Composite gained 62 points, or 0.3 %, to 20,227, topping its previous record high of 20,174 on Dec. 16, 2024. The Dow Jones Industrial Average rose 0.4% to 43, 627 but remains below its previous high of 45,014 on Dec. 4, 2024. Markets have made a stunning turnaround since April, when the S&P 500 entered a bear market amid worries over the Trump administration's tariff policies. In recent weeks, investor worries have eased amid calmer rhetoric on tariffs and forecasts that hopes that the Federal Reserve rate will lower interest rates, analysts told CBS MoneyWatch. A sharp rebound in technology stocks have also helped drive the rebound. President Trump said at a White House event Thursday that Washington and Beijing had signed an agreement on trade, although details remain unclear. He added that he expects to have a deal with India soon. Despite the renewed optimism, Wall Street analysts warn that financial markets could still face a bumpy road ahead. "We think there's a dangerous amount of complacency on trade/tariffs, a view underscored by the fact markets this morning are celebrating the China 'deal' for a third time," Vital Knowledge analyst Adam Crisafulli said in a report. As the stock market rallied Friday, investors digested new inflation data from the Commerce Department, which indicated that prices rose 2.3% in May compared with a year ago, up from just 2.1% in April. Core inflation — which excludes the more volatile food and energy categories — rose 2.7% from a year earlier, an increase from 2.5% the previous month. contributed to this report.
Yahoo
24-06-2025
- Business
- Yahoo
Stock futures rise as investors bet that Iran-Israel truce will stick
Stocks look set to extend their gains Tuesday, with futures contracts climbing amid investor hopes that Israel and Iran would abide by a ceasefire announced by President Trump. As of 8:51 a.m. EDT, S&P 500 futures were up 42 points, or 0.7% while Dow Jones Industrial Average futures added 274 points, or 0.6%. Nasdaq Composite futures were up 1%. "Israel accepted the ceasefire earlier this morning and while some headlines suggest there may have already been a violation, geopolitical concerns are quickly fading from the forefront of the market narrative," Adam Crisafulli, head of Vital Knowledge, said in a research note. International markets also rose, with Germany's DAX climbing 1.8% the CAC 40 in Paris adding 1.2% and Britain's FTSE 100 up 0.3%. In Asia, Tokyo's Nikkei rose 1.1%, while The Shanghai Composite index climbed 1.2%. Oil prices continued to ebb on Tuesday, with U.S. benchmark crude falling 3% to $66.49 per barrel and Brent crude also shedding 3% to $69.38. Prices initially spiked after the conflict started two weeks ago, briefly topping $78 and raising concerns the hostilities could drive up energy costs for Americans. Israel on June 13 launched an attack on Iran targeting the nation's nuclear facilities and research scientists. The U.S. stepped up its involvement last weekend when it launched strikes on three Iranian nuclear facilities. In other events Tuesday that investors are watching, Federal Reserve Chair Jerome Powell will appear before the House Financial Services Committee at 10 a.m. EDT for day one of his semiannual appearance before Congress. He is scheduled to testify before the Senate Committee on Banking, Housing and Urban Affairs on Wednesday. The central bank said last week it would maintain the federal funds rate at its current range of 4.25% to 4.5%. The next Fed meeting is scheduled for July 29-30. Private insurers are working to ease the prior authorization process. Here's what that means. Americans search for relief from extreme heat impacting parts of country Global markets react to developments in the Middle East, Trump's ceasefire news 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
CBS News
24-06-2025
- Business
- CBS News
Stock futures rise as investors bet that Iran-Israel truce will stick
Here's what could happen next between Israel and Iran Stocks look set to extend their gains Tuesday, with futures contracts climbing amid investor hopes that Israel and Iran would abide by a ceasefire announced by President Trump. As of 8:51 a.m. EDT, S&P 500 futures were up 42 points, or 0.7% while Dow Jones Industrial Average futures added 274 points, or 0.6%. Nasdaq Composite futures were up 1%. "Israel accepted the ceasefire earlier this morning and while some headlines suggest there may have already been a violation, geopolitical concerns are quickly fading from the forefront of the market narrative," Adam Crisafulli, head of Vital Knowledge, said in a research note. International markets also rose, with Germany's DAX climbing 1.8% the CAC 40 in Paris adding 1.2% and Britain's FTSE 100 up 0.3%. In Asia, Tokyo's Nikkei rose 1.1%, while The Shanghai Composite index climbed 1.2%. Oil prices continued to ebb on Tuesday, with U.S. benchmark crude falling 3% to $66.49 per barrel and Brent crude also shedding 3% to $69.38. Prices initially spiked after the conflict started two weeks ago, briefly topping $78 and raising concerns the hostilities could drive up energy costs for Americans. Israel on June 13 launched an attack on Iran targeting the nation's nuclear facilities and research scientists. The U.S. stepped up its involvement last weekend when it launched strikes on three Iranian nuclear facilities. In other events Tuesday that investors are watching, Federal Reserve Chair Jerome Powell will appear before the House Financial Services Committee at 10 a.m. EDT for day one of his semiannual appearance before Congress. He is scheduled to testify before the Senate Committee on Banking, Housing and Urban Affairs on Wednesday. The central bank said last week it would maintain the federal funds rate at its current range of 4.25% to 4.5%. The next Fed meeting is scheduled for July 29-30.
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First Post
23-06-2025
- Business
- First Post
Oil spikes, markets retreat as West Asia tensions ripple global economy
Following US strikes in Iran, oil prices surged to a five-month high today whereas Western markets have held steady so far. All eyes are on the Iranian retaliation as any disruption in the Strait of Hormuz could send oil prices souring. read more Oil prices rose to a five-month high on Monday as West Asia remained tense after the United States entered Israel's war on Iran. Ahead of the US markets' opening, future contracts were largely flat that suggested that investors were waiting for the Iranian retaliation cautiously but were not in panic. Notably, US defence companies' future contracts were up whereas European defence companies were trading in the red. STORY CONTINUES BELOW THIS AD The United States on Saturday bombed Iran's nuclear facilities at Natanz, Fordow, and Isfahan. Iran has vowed retaliation and may respond with attacks on US interests in West Asia. However, Iran's retaliation may also include non-kinetic measures like cyberattacks or acts of sabotage. For the wider world, the most immediate concern is energy supply. There are voices within Iran that have called for the blocking of the Strait of Hormuz . Analysts have said that the blockade could raise energy prices by more than a third. Oil surges but settles — all eyes on Strait of Hormuz Crude oil surged to a five-month high on Monday before falling in the day. Brent crude surged by around 3.8 per cent from $78.97 to a high of $81.40 in the day before settling at around 0.39 per cent high at the time of writing. Even as tensions are high in West Asia, there has not been any escalation outside of Iran or disruption of trade in West Asia that would rattle markets. ALSO READ: Iran's dilemma: Here are Iran's options after Trump's strikes The main concern is the Strait of Hormuz that Iran dominates. In retaliation of the US strikes, there are calls in Iran to block the waterway. As around 20 per cent of world's all oil and gas passes through the strait, the blockade would affect the whole world. STORY CONTINUES BELOW THIS AD If Iran blocks the Strait of Hormuz, global oil prices could reach $120 a barrel and US inflation could reach 5 per cent, according to JP Morgan Chase analysts. They further said that a regime change in Iran may raise oil prices by up to 76 per cent, according to historical trends. Markets remain tense but steady There was no major turmoil in US markets even as investors remained concerned. Dow Jones futures were down just 25 0.06 per cent, S&P 500 futures were down 0.04 per cent, and Nasdaq-100 futures were up 0.09 per cent. There was also no sign of a rush to the traditional safety of Treasuries, with 10-year yields rising about 2 basis points to 4.389 per cent. There was no sign of rush to the safe haven of Treasuries with 10-year yield rising just 2 basis points. Adam Crisafulli of Vital Knowledge said in a Monday note that " investors aren't terribly panicked about an oil market calamity" because of the asymmetry between the United States and Iran. 'Geopolitical risks are undoubtedly elevated in the Middle East right now, but our view remains that the extreme asymmetry of the conflict (with Iran's military capabilities, and those of its proxy partners, significantly degraded), coupled with Tehran's relative isolation (with few, if any, allies willing to come to its assistance) and ample global oil supplies, will help keep the fallout contained,' said Crisafulli, as per CNBC. STORY CONTINUES BELOW THIS AD
