Latest news with #JanneyMontgomeryScott
Yahoo
26-06-2025
- Business
- Yahoo
S&P 500 Chart Watchers Fret Over Rally's Narrow Leadership Ranks
(Bloomberg) — With technology stocks powering major US indexes toward record highs, technical analysts see the makings of a selloff in the coming months unless more sectors join the rally. US Renters Face Storm of Rising Costs US State Budget Wounds Intensify From Trump, DOGE Policy Shifts Commuters Are Caught in Johannesburg's Taxi Feuds as Transit Lags Mapping the Architectural History of New York's Chinatown The S&P 500 (^GSPC) Index's furious rebound from its tariff-fueled April slide has left it less than 1% from an all-time high. But so far, a key measure of market breadth — the percentage of the S&P 500 members trading above their 200-day moving average — hasn't budged since May. The equal-weighted version of the S&P 500, which is often seen as a better reflection of market participation, is more than 4% below its own record touched in November. Chart watchers from firms including Janney Montgomery Scott say US stocks can start losing steam over the next couple months without a bigger boost from other major market groups, like financials, transports and small-cap companies. Until then, sheer momentum can keep the S&P 500 going, barring any major and unexpected shocks regarding trade or geopolitics. 'The markets are very overbought on a short-term basis and leadership is concentrated heavily toward S&P 500 and Nasdaq 100 (NQ=F),' said Dan Wantrobski, technical strategist and associate director of research at Janney Montgomery Scott. 'If breadth does not follow the breakouts in S&P and Nasdaq, then we will be on the watch for a correction.' Wantrobski and other analysts point to August as a potential area of weakness based on their analysis of chart patterns, momentum projections and seasonal trends. The technicians' warnings line up with looming deadlines for tariff negotiations, especially with China, as the delays put in place for the higher levies on Chinese imports will run out that month. Others on Wall Street highlight the S&P 500's frothy valuation metrics, especially with President Donald Trump's July 9 deadline to reach deals with some of the country's major trading partners fast approaching, and earnings season starting shortly after. Among the 11 S&P sectors, information technology, industrials and communication services are the only three that have touched all-time highs. Meanwhile, the small-cap Russell 2000 Index still has a long way to go to reach the high of late November, just after Trump won the US election and sparked a wide risk-on rally in stocks. But some technicians are seeing encouraging signs. Mark Newton, head of technical strategy at Fundstrat, says this week's show of strength in industrials, transports, consumer discretionary and financials — even though some of these groups are yet to make fresh records — is a compelling reason to stick with equities. Adam Turnquist, chief technical strategist at LPL Financial, pointed to historical data as further cause for optimism. According to LPL's analysis, since 1954, when the S&P 500 makes a meaningful new high at least 60 trading days from a previous high, average and median returns 12 months later stood at 9.7% and 8.6%. The index last reached a record on Feb. 19. The data still isn't enough for Turnquist to rule out a late-summer pullback. 'We wouldn't be surprised to some consolidation if we rally to a new high,' he said, noting the market's implied volatility tends to pick up starting in July and peak in late September to early October. 'This is a market where we prefer buying dips versus chasing it higher.' Some chartists also say the relative strength index, which is a momentum indicator that shows whether an asset's prices have veered too quickly in one direction, is projected to move into a bearish zone later this summer. That typically indicates a reversal may be around the corner. At the moment that index shows that the S&P 500 is hovering close to overbought territory on a 14-day basis. John Kolovos, chief technical strategist at Macro Risk Advisors sees first support for the S&P 500 at around the 5,930 level, which would mark a 2.7% drop from the last close. 'I do not think we get a meaningful setback until later this summer, at which point weekly momentum indicators will be firmly into overbought territory and market seasonality cycles will turn into headwinds,' he said. Inside Gap's Last-Ditch, Tariff-Addled Turnaround Push How to Steal a House Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags Apple Test-Drives Big-Screen Movie Strategy With F1 Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros ©2025 Bloomberg L.P. By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
20-06-2025
- Business
- Yahoo
Circle initiated, Charter upgraded: Wall Street's top analyst calls
The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The Upgrades: Wolfe Research upgraded Charter (CHTR) to Peer Perform from Underperform without a price target. President Trump's "Big Beautiful Bill" seems likely to reinstate 100% bonus depreciation, notes the firm, which estimates the five major connectivity providers could cumulatively gain $10.5B of cash tax relief in 2025 alone. Wells Fargo upgraded Mondelez (MDLZ) to Overweight from Equal Weight with a price target of $78, up from $68. The firm sees the "intersection" of price execution, "ever-muted" inflation in 2026 and a low relative valuation creating the "optimal bull case" for Mondelez. BMO Capital upgraded CubeSmart (CUBE) to Outperform from Market Perform with a $49 price target, up from $48, and moved to the analyst's top pick in storage. The firm sees CubeSmart's more urban exposure versus peers, exemplified in leading demographics, as likely to continue to outperform, particularly in New York City. Stifel upgraded EPR Properties (EPR) to Buy from Hold with a price target of $65, up from $52, visiting the company. With improvements in the share price and cost of capital, the company "can once again return to reasonable external growth," the firm tells investors in a research note. Top Downgrades: William Blair downgraded Sarepta (SRPT) to Market Perform from Outperform without a price target. The reduction in peak revenue opportunity following second case of fatal acute liver failure due to Elevidys treatment and "growing number of uncertain variables will be a deterrent for investors," the firm tells investors in a research note. Argus downgraded Campbell's (CPB) to Hold from Buy. The firm believes that valuations on the stock are reasonable given the company's weak volume and "less than robust" outlook, though it would look to upgrade on signs of sustained volume and margin growth. Oppenheimer downgraded Johnson Controls (JCI) to Perform from Outperform on valuation. Following re-rating during the June quarter, valuation now sits at historical highs across multiple metrics, the firm notes. BMO Capital downgraded Public Storage (PSA) to Market Perform from Outperform with a $325 price target. The firm remains positive on Public Storage's long-term fundamentals but says the shares have outperformed over the past year. Stifel downgraded Jack in the Box (JACK) to Hold from Buy with a price target of $20, down from $32. The Trump administration's aggressive immigration policies are likely to create a "significant sales headwind for an unpredictable period." Top Initiations: Seaport Research initiated coverage of Circle (CRCL) with a Buy rating and $235 price target, telling investors that the firm views Circle as "a top-tier crypto 'disruptor' with a sizeable future opportunity." Janney Montgomery Scott initiated coverage of Everest Group (EG) with a Buy rating and $425 fair value estimate. Everest is a "top-tier" global property and casualty reinsurer with a growing primary insurance business with "a long-term track record of strong performance," having generated a median operating return on equity of 12% and average annual growth in shareholder value of 11% over the last 25 years, the firm tells investors. Macquarie initiated coverage of Sportradar (SRAD) with an Outperform rating and $32 price target. The market is still underestimating more U.S. state legalization, the in-play betting shift, and further market penetration in international markets, contends the firm, which doesn't think Sportradar's current valuation is reflective of OSB in California and Texas nor a U.S. in-play shift above 50% this decade. Wolfe Research initiated coverage of TPG (TPG) with an Outperform rating and $60 price target, representing over 20% upside. The firm sees "several ways" for TPG to generate high-teens fee-related earnings growth through 2027. Wells Fargo initiated coverage of Metsera (MTSR) with an Overweight rating and $65 price target. Wells sees a good risk/reward at current levels, saying data over the next year will strengthen Metsera's "differentiated profile." 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
Business Recorder
12-05-2025
- Business
- Business Recorder
Wall Street Week Ahead: US stock market leadership eyed with crucial economic data on tap
NEW YORK: Investors head into a busy week for economic data watching if leadership in the US stock market could be moving away from defensive equity areas that indicates greater appetite for risk. While the benchmark S&P 500 index is down 3.7% in 2025, with stocks jolted by concerns about economic damage from President Donald Trump's tariffs, the consumer staples and utilities sectors, typically seen as more safe-haven areas of the market, are up this year 5% and 5.6%, respectively. Investors often seek shelter in those groups because their businesses are considered relatively immune to economic slowdowns while the stocks tend to offer strong dividends. 'If the market is in a risk-off mode, those sectors will continue to lead,' said Chuck Carlson, chief executive officer at Horizon Investment Services. More recently, however, as the US market has rebounded from its lows over the past month, groups like technology, industrials and consumer discretionary that are more associated with upbeat economic sentiment, or 'risk on' investor behavior, have been outperforming. Leadership moving from defensive sectors to those areas or groups tied to the economy such as financials or energy could be 'a sign perhaps that investors are regaining some animal spirits with regard to the prospects for the economy,' said Mark Luschini, chief investment strategist at Janney Montgomery Scott. 'That would be a tell of less caution being insinuated by investors,' Luschini said. While data so far this year has indicated resilience in the economy, sentiment surveys and other 'soft data' have been weak. 'What all macro investors are grappling with is, is this just a sentiment slowdown that's being reflected in a defensive tilt within equities, or is this something more fundamental?' said Matthew Miskin, co-chief investment strategist at Manulife John Hancock Investments. Economic data in the coming week provides a critical view. Tuesday's April consumer price index will give a fresh read on inflation trends, while April retail sales on Thursday offers the latest window into consumer spending. While economic fallout from the tariffs remains unclear, concerns abound that the import levies are poised to drive up prices and slow growth. If CPI is hotter than expected and retail sales miss estimates, it could raise concerns about 'stagflation,' Miskin said - a mix of sluggish growth and relentless inflation that could pressure stocks. Some investors said the Federal Reserve appeared to nod to such worries at its meeting this week. The central bank held interest rates steady and said the risks of both higher inflation and unemployment had risen. Aside from data, the coming week will see more US companies posting quarterly results, including retailing giant Walmart, whose report stands to offer insight into consumer behavior and the cost of imported goods. Stocks gained on Thursday after Trump and British Prime Minister Keir Starmer announced a trade agreement, the first since Trump triggered a global trade war with a barrage of levies on trading partners. Investors will continue to be fixated on the Trump administration's negotiations with other countries in hopes of more agreements after the president last month paused many of the heftiest tariffs for 90 days. 'Talks are starting to take place globally, and there is increased optimism that deals can be made before' the pause expires, CFRA strategists said in a note on Wednesday.
Express Tribune
11-05-2025
- Business
- Express Tribune
Investors eye shift from defensive stocks
Listen to article Investors head into a busy week for economic data watching if leadership in the US stock market could be moving away from defensive equity areas that indicates greater appetite for risk. While the benchmark S&P 500 index is down 3.7% in 2025, with stocks jolted by concerns about economic damage from President Donald Trump's tariffs, the consumer staples and utilities' sectors, typically seen as more safe-haven areas of the market, are up this year 5% and 5.6%, respectively. Investors often seek shelter in those groups because their businesses are considered relatively immune to economic slowdowns while the stocks tend to offer strong dividends. "If the market is in a risk-off mode, those sectors will continue to lead," said Chuck Carlson, CEO at Horizon Investment Services. More recently, however, as the US market has rebounded from its lows over the past month, groups like technology, industrials and consumer discretionary that are more associated with upbeat economic sentiment, or "risk on" investor behaviour, have been outperforming. Leadership moving from defensive sectors to those areas or groups tied to the economy such as financials or energy could be "a sign perhaps that investors are regaining some animal spirits with regard to the prospects for the economy," said Mark Luschini, Chief Investment Strategist at Janney Montgomery Scott. "That would be a tell of less caution being insinuated by investors," Luschini said. While data so far this year has indicated resilience in the economy, sentiment surveys and other "soft data" have been weak.
Time of India
10-05-2025
- Business
- Time of India
Wall Street Week Ahead: US market leadership faces test as economic data takes centre stage
Investors head into a busy week for economic data watching if leadership in the U.S. stock market could be moving away from defensive equity areas that indicates greater appetite for risk. While the benchmark S&P 500 index is down 3.7% in 2025, with stocks jolted by concerns about economic damage from President Donald Trump's tariffs, the consumer staples and utilities sectors, typically seen as more safe-haven areas of the market, are up this year 5% and 5.6%, respectively. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Thousands Are Saving Money Using This Wall Plug elecTrick - Save upto 80% on Power Bill Click Here Undo Investors often seek shelter in those groups because their businesses are considered relatively immune to economic slowdowns while the stocks tend to offer strong dividends. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. "If the market is in a risk-off mode, those sectors will continue to lead," said Chuck Carlson, chief executive officer at Horizon Investment Services . More recently, however, as the U.S. market has rebounded from its lows over the past month, groups like technology, industrials and consumer discretionary that are more associated with upbeat economic sentiment, or "risk on" investor behavior, have been outperforming. Live Events Leadership moving from defensive sectors to those areas or groups tied to the economy such as financials or energy could be "a sign perhaps that investors are regaining some animal spirits with regard to the prospects for the economy," said Mark Luschini, chief investment strategist at Janney Montgomery Scott. "That would be a tell of less caution being insinuated by investors," Luschini said. While data so far this year has indicated resilience in the economy, sentiment surveys and other "soft data" have been weak. "What all macro investors are grappling with is, is this just a sentiment slowdown that's being reflected in a defensive tilt within equities, or is this something more fundamental?" said Matthew Miskin, co-chief investment strategist at Manulife John Hancock Investments. Economic data in the coming week provides a critical view. Tuesday's April consumer price index will give a fresh read on inflation trends, while April retail sales on Thursday offers the latest window into consumer spending. While economic fallout from the tariffs remains unclear, concerns abound that the import levies are poised to drive up prices and slow growth. If CPI is hotter than expected and retail sales miss estimates, it could raise concerns about " stagflation ," Miskin said - a mix of sluggish growth and relentless inflation that could pressure stocks. Some investors said the Federal Reserve appeared to nod to such worries at its meeting this week. The central bank held interest rates steady and said the risks of both higher inflation and unemployment had risen. Aside from data, the coming week will see more U.S. companies posting quarterly results, including retailing giant Walmart, whose report stands to offer insight into consumer behavior and the cost of imported goods. Stocks gained on Thursday after Trump and British Prime Minister Keir Starmer announced a trade agreement, the first since Trump triggered a global trade war with a barrage of levies on trading partners. Investors will continue to be fixated on the Trump administration's negotiations with other countries in hopes of more agreements after the president last month paused many of the heftiest tariffs for 90 days. "Talks are starting to take place globally, and there is increased optimism that deals can be made before" the pause expires, CFRA strategists said in a note on Wednesday.
