Latest news with #RossMayfield
Canada News.Net
5 days ago
- Business
- Canada News.Net
U.S. stocks have meandering day Thursday, Dow drops more than 300 points
NEW YORK, New York - U.S. stocks were on the defensive Thursday. The Dow Jones index corrected its recent hefty gains, finishing with a more than 300 points loss, while the Nasdaq Composite and Standard and Poor's 500 edged up, after hitting earlier intraday all-time highs. Better-than-expected results from Alphabet boosted market sentiment. "Given the size and influence of big tech and [artificial intelligence], I think the Alphabet results were a nice little tailwind for a market that's constantly asking the question of whether all the AI spend is going to have have solid return on investment]or whether this can continue," Ross Mayfield, investment strategist at Baird, told CNBC Thursday. "At least at the beginning of earnings season here, Alphabet provided a nice data point that the answer is positive," he said. 🔹 U.S. Markets S&P 500 (^GSPC): 6,363.35 ▲ +4.44 (+0.07 percent) Dow Jones (^DJI): 44,693.91 ▼ -316.38 (-0.70 percent) Nasdaq (^IXIC): 21,057.96 ▲ +37.94 (+0.18 percent) NYSE Composite (^NYA): 20,853.42 ▼ -68.42 (-0.33 percent) NYSE American (^XAX): 6,072.89 ▼ -4.96 (-0.08 percent) Russell 2000 (^RUT): 2,252.13 ▼ -31.00 (-1.36 percent) U.S. Dollar Edges Higher as Markets Await Key Economic Data The U.S. dollar showed modest strength against major currencies in Thursday's trading session, while the British pound held steady in cautious trading ahead of key economic data releases. Key Currency Movements EUR/USD: The euro inched up 0.04 percent to 1.1751, struggling to find momentum amid mixed Eurozone economic signals. USD/JPY: The dollar gained 0.04 percent against the yen, trading at 147.05 as Bank of Japan policy uncertainty weighed on the Japanese currency. USD/CAD: The greenback rose 0.09 percent to 1.3645 versus the Canadian dollar as oil price fluctuations influenced the commodity-linked loonie. GBP/USD: Sterling held flat at 1.3504, showing no change as traders awaited UK retail sales data. USD/CHF: The dollar edged up 0.02 percent to 0.7952 against the Swiss franc in quiet safe-haven trading. AUD/USD: The Australian dollar gained 0.05 percent to 0.6592, supported by improved risk sentiment in Asian markets. NZD/USD: The New Zealand dollar also rose 0.05 percent to 0.6030, mirroring its Aussie counterpart's movements. Market Drivers Forex markets remained in a holding pattern Thursday as traders awaited Friday's crucial U.S. PCE inflation data - the Federal Reserve's preferred price gauge. The dollar's modest gains reflected: Analyst Outlook "Currency markets are clearly in wait-and-see mode," said Maria Chen, senior FX strategist at Global Markets Capital. "The dollar's slight firming suggests markets are pricing in a potentially hawkish Fed, but we need to see tomorrow's inflation numbers for clearer direction." Up Next: All eyes turn to Friday's U.S. core PCE price index and Eurozone inflation figures for fresh trading catalysts. Global Markets Close Mixed on Thursday; Nikkei Surges Again Global equities showed a split performance on Thursday. Asian markets were strong, led by Japan's Nikkei 225, while European and some emerging markets saw modest declines. 🔹Canadian Markets 🔹 UK and European Markets FTSE 100 (^FTSE): 9,138.37 ▲ +76.88 (+0.85 percent) DAX (^GDAXI): 24,295.93 ▲ +55.11 (+0.23 percent) CAC 40 (^FCHI): 7,818.28 ▼ -32.15 (-0.41 percent) Euro Stoxx 50 (^STOXX50E): 5,355.20 ▲ +10.95 (+0.20 percent) BEL 20 (^BFX): 4,617.32 ▲ +21.10 (+0.46 percent) 🔹 Asia and Pacific Markets Nikkei 225 (^N225): 41,826.34 ▲ +655.02 (+1.59 percent) (Japan) Hang Seng (^HSI): 25,667.18 ▲ +129.11 (+0.51 percent) (Hong Kong) Shanghai Comp. ( 3,605.73 ▲ +23.43 (+0.65 percent) (China) KOSPI (^KS11): 3,190.45 ▲ +6.68 (+0.21 percent) (South Korea) TWSE (^TWII): 23,373.73 ▲ +55.06 (+0.24 percent) (Taiwan) S&P/ASX 200 (^AXJO): 8,709.40 ▼ -27.80 (-0.32 percent) (Australia) All Ordinaries (^AORD): 8,979.40 ▼ -22.00 (-0.24 percent) (Australia) STI Index (^STI): 4,273.05 ▲ +41.77 (+0.99 percent) (Singapore) S&P/NZX 50 (^NZ50): 12,814.17 ▲ +9.04 (+0.07 percent) (New Zealand) Sensex (^BSESN): 82,184.17 ▼ -542.47 (-0.66 percent) (India) IDX Composite (^JKSE): 7,530.90 ▲ +61.67 (+0.83 percent) (Indonesia) KLSE (^KLSE): 1,540.32 ▲ +10.53 (+0.69 percent) (Malaysia) 🔹 Latin American Markets Sensex (^BSESN): 82,184.17 ▼ -542.47 (-0.66 percent) (India) Bovespa (^BVSP): 133,807.59 ▼ -1,560.67 (-1.15 percent) (Brazil) IPC Mexico (^MXX): 57,035.90 ▲ +557.00 (+0.99 percent) (Mexico) S&P IPSA (^IPSA): 8,141.82 ▲ +1.12 (+0.01 percent) (Chile) MERVAL (^MERV): 2,135,086.50 ▲ +51,409.38 (+2.47 percent) (Argentina) 🔹 Middle East Markets TA-125 (^ 3,115.02 ▼ -37.44 (-1.19 percent) (Israel) EGX 30 (^CASE30): 34,125.10 ▲ +321.80 (+0.95 percent) (Egypt) 🔹 African Markets 🔸 Market Summary
The Star
5 days ago
- Business
- The Star
U.S. stocks close mixed on corporate earnings
NEW YORK, July 24 (Xinhua) -- U.S. stocks ended mixed on Thursday as investors digested a wave of corporate earnings and weighed the implications of accelerating global trade negotiations. The Dow Jones Industrial Average fell 0.7 percent to 44,693.91. The S&P 500 gained 0.07 percent to 6,363.35, while the Nasdaq Composite Index rose 0.18 percent to 21,057.96. Eight of the 11 primary S&P 500 sectors ended in the red. Consumer discretionary and materials led the laggards, losing 1.23 percent and 0.75 percent, respectively. Meanwhile, energy and technology led the gainers with a rise of 0.71 percent and 0.67 percent, respectively. U.S. President Donald Trump has recently secured trade deals with Japan, Indonesia and the Philippines, with officials pointing to progress in talks with the European Union and other key partners. The prospect of additional deals has helped ease market nerves, though analysts warn that failure to avoid new tariffs could stoke inflation and weigh on corporate margins. On the earnings front, Tesla shares plunged 8.2 percent after the electric vehicle maker missed Wall Street's quarterly earnings estimates. Alphabet, on the other hand, rose 0.88 percent after reporting results that beat expectations and unveiling plans to boost capital expenditures. Given the size and influence of big tech and artificial intelligence, the Alphabet results were a nice little tailwind for a market that is constantly asking whether all the AI spend is going to have a solid return on investment or whether this can continue, Baird investment strategist Ross Mayfield told CNBC. Elsewhere in the tech sector, mega-cap names like Nvidia, Microsoft, Amazon, and Broadcom rose more than 1 percent, while Apple edged lower. Among other earnings movers, IBM fell 7.62 percent despite expectation-beating profit estimates. American Airlines also slumped 9.62 percent. The market showed signs of hesitation following several high-profile quarterly reports and growing attention to the Aug. 1 tariff deadline. Mayfield said that raising tariffs to any country without a deal on Aug. 1 is "going to be a risk-off event."
Yahoo
21-07-2025
- Automotive
- Yahoo
Mag 7 earnings: Why Alphabet is the 'bigger story' — not Tesla
Tesla (TSLA) and Alphabet (GOOG, GOOGL) are set to report earnings this Wednesday. Yahoo Finance Senior Reporter Allie Canal, IG North America Interim CEO Pete Mulmat, and Baird Investment strategist Ross Mayfield join Opening Bid host Brian Sozzi to examine which of the "Magnificent Seven" earnings results will be most important. To watch more expert insights and analysis on the latest market action, check out more Opening Bid here. because it's going to be a big, uh, multi-year initiative for Tesla, billions of dollars likely in terms of investment. But I do think they just want to hear if they're going to sell more cars. When does that top line pick up for this company? Because they're not making money off robotaxis, at least for the next few years. Yeah, Brian, you're absolutely right, and when it comes to sales, the US we're slipping, we're slipping abroad. There's a lot of competition on that front, and cheaper EV models too. That was something that analysts were hoping we could see before the expiration of those EV tax credits at the end of September. We haven't seen that. We likely won't. So, what does that mean for the competitive landscape here, and it's coming at a time where consumer purchasing behavior has shifted a bit? There's more of a favor for hybrids than pure EV plays on the infrastructure side. We're still lacking a bit there. So, where's the innovation here? What does Elon Musk plan to do to reinvigorate some of these sales, because it is core to the business. It is the part of the business that's making money, and we've just seen struggle after struggle on that front. So, he's going to have to come out and say something that's encouraging to investors, that that's not just 5, 10 years down the line. What is the short-term plan for Tesla to reinvigorate sales and get some profits? Uh, Pete, we've seen some, uh, pretty strong moves in Tesla the past few earnings reports. Your team at Tastytrade seeing anything in the options market ahead of this, uh, Tesla release? Uh, you know what, um, balls in a little bit on Tesla right now. Uh, we see about an expected, uh, 23% or $23 move, uh, going into the earnings announcement. Uh, customers, for the most part, are, uh, still bullish, but, um, we're seeing that play through most of the mega 7, uh, names right now. Um, so, uh, seeing a relatively with volatility in at these levels, um, Tesla a little bit different story than a lot of the other mega 7s, 20% below its highs. Um, not seeing a lot of, uh, um, skewing the options chains, uh, giving us some indication as to that, but, um, again, we're looking for right now around that $23 move on either side on the earnings. Ross, last word over to you. What's the more important report this week for the market, broadly, is it Alphabet or is it Tesla? I think it's Alphabet. Um, you know, Tesla has always been a kind of the idiosyncratic member of the Mag 7, um, lumped in because of its size and its tech adjacency, but as you mentioned, it really, it sells cars. So it's got these AI links and, um, you know, big tech aspirations, but it kind of sits on its own. Alphabet is an AI story, it's a big tech story, it's a, um, a story that's, you know, has a lot to do with the EU trade and some of the non-tariff barriers over the EU. So there is a lot there, and I think that the extent to which AI tools like Chat GPT are cannibalizing or eating some of the moat around that company or changing the way that we use search, the way that we interact with our software, um, that is the story, and that is the company that's most going to tell the story about how AI is working in our lives. And that's again, we've got the mega 7 at all-time highs. We're back on the AI trend. So that's the thing that the market is thinking about right now. I think that's the bigger story. Related Videos Alphabet earnings, Cleveland-Cliffs surges, CSX upgraded Why so many companies are trying to become banks Markets are 'getting close' to being priced to perfection Navitas skyrockets, Dollar Tree upgraded, Sarepta & FDA Sign in to access your portfolio
Yahoo
21-07-2025
- Business
- Yahoo
Markets are 'getting close' to being priced to perfection
Yahoo Finance Executive Editor Brian Sozzi examines whether the market is priced to perfection and discusses the risks ahead that could threaten stocks' high valuation. Baird Investment strategist Ross Mayfield, IG North America Interim CEO Pete Mulmat, and Senior Reporter Allie Canal discuss. To watch more expert insights and analysis on the latest market action, check out more Opening Bid here. All right, it's time now for our question of the day. Is the market priced for perfection? I want to put the pressure on our group here. Ross, I'm gonna start with you. A market could stay priced for perfection for a long period of time. I would argue I could ask this question six months ago and we probably would have said it was priced for perfection. Is it priced for perfection now and how long can it stay at these levels when we're looking at a Fed meeting next week, we're looking at an August 1st tariff deadline. There are some real potential negative shocks coming to this market. Yeah, you're absolutely right. I would say not priced to perfection, but priced for very, very good. I mean, you know, you have a forward multiple that's approaching at, you know, 2021 levels, but only, you know, expecting, you know, the S&P 9-ish percent growth for 2025. So that's not crazy. That's not something that's undeliverable. So I think you're priced for very good. You mentioned there's a lot of kind of potential headwinds or catalyst out there. That could cause some near-term pain. We've had this big run-up, usually you have to consolidate a move like that, maybe let the earnings and the fundamentals kind of catch up to price. But the other thing is the move we've seen, that breadth, that momentum, the kind of global and cyclical nature of this move, usually those portend pretty strong returns six, 12 months out. So I think that near term, you could see some chop, you could see, you know, even a bit of a correction here. But it's priced for very good and I think it's going to be able to deliver on that. Uh, Pete, Ross has set you up for a big correction call here on Yahoo Finance. Tell me that the S&P 500 is going to lose 10 to 15% over the next two weeks. Come on, the floor is yours. Oh, it's going to zero. No, no, he has, he has set me up wonderfully. You know what? I think we are getting close to that, uh, that perfection in terms of rates will be flat or lower. Tariffs have not been impactful, nor will they be in the future. I think we're at a point right now where, um, and you made a great point that these runs tend to last longer than anybody expects. And I agree with you on that. But I think we, we are in that mode that, um, bad news is good news and good news is good news, and that can change. Whether we've got another two, three percent to the upside, but I would imagine by the fall we'll be seeing this market trading lower. Ali, last word to you. This has been an unshakeable market. Tariffs, tariff headlines really haven't taken the market down. Even companies that have reported squishy earnings. I'll put Domino's results into this morning. I mean, they missed badly on earnings, but the stock's up on a US same store sales figure and some stuffed crust pizza results. I mean, give me a break. I mean, it's hard to figure out if tariffs are going to take this market down, what will? I think it's going to be disappointment on the earnings front, especially for a big company like Nvidia. I think that is the biggest risk in the near term. But we are in a bull market, and I think looking ahead, it's all about artificial intelligence. We are still in the early innings of AI. If you look back in history at any other bull market, there is always that innovation. And this time around, it's AI. And we haven't even scratched the surface when it comes to some of those productivity gains there, too. So overall, I think we are going to see this market chug along higher. But as we've been discussing, there are still near-term risks. We could see some chop, some volatility, in particular when it comes to the interest rate path. I think we're going to be priced out of that for this year. I think we're going to see those cuts not until 2026. How the market takes that is a big TBD. But I think if we continue to see economic data coming strong, if earnings coming strong, then we're at a solid place in this market.
Yahoo
21-07-2025
- Business
- Yahoo
Alphabet earnings checklist: 3 things to watch for
Baird investment strategist Ross Mayfield, Yahoo Finance Senior Reporter Allie Canal, and IG North America Interim CEO Pete Mulmat join Opening Bid host Brian Sozzi to discuss Alphabet (GOOG, GOOGL) ahead of the company's earnings release on Wednesday. To watch more expert insights and analysis on the latest market action, check out more Opening Bid here. our stock of the day alphabet ahead of the tech giants earnings release on Wednesday, alphabets stock is entering earnings day strong gaining about 7% in the past month, but you wouldn't get this bullish vibe looking at alphabets price to earnings ratio. Check out this chart from Evercore ISI tech analyst mark behehani which shows alphabets four p ratio trading at nearly trough levels. Now hop onto the yahoo finance platform and you'll see alphabets four p ratio of about 19.3 times below the s&p 500s 24 times. Ultimately alphabet must deliver on three fronts to appease the bulls. First the ads on the core search platform need to be above estimates as to alleviate competitive concerns, whether that's from AI agents or open AI. YouTube has to be strong again from top to bottom. That is Netflix earnings last week showed streaming domination, and lastly alphabet must show reasonable cost controls even as it spends aggressively to build AI infrastructure. Still with me is my round table Ross Mayfield, bear investment strategist and Yahoo Finance senior reporter, Ally Canal. Ally let me get over to you here, uh the Netflix numbers were strong. And I want to mention Netflix because they have a direct tie into YouTube. Now YouTube arguably has been the the story narrative on alphabet for the better part of the year in my humble view. And sources tell me that when it comes to Netflix's biggest competition, it is YouTube. It's the creator economy. It's where people are plopping on their couch and they're turning on YouTube more than they have in the past. So for Netflix and competing for those eyeballs, YouTube is a top focus, and they were asked about this on the call whether or not they would consider similar deals with content creators that we've seen from YouTube, and they said that they're open to everything but that they have a different model, a different uh content proposition to consumers, but it's still top of mind for executives at Netflix. They are watching YouTube closely, and we have seen that share tick up. So I think you're absolutely right, YouTube needs to be perfect for alphabet too. I'm also looking closely at the search engine business because there has been talk that chatbots like open AI is chat GPT that they could be taking some market share away, and even anecdotally, sometimes I'll go on Chat GPT and ask chat a question and not Google it. So there are some longer term questions about whether we could see that weigh on alphabet in in the future, but in the near term analysts say that some of those concerns have been appropriately priced into the valuation and that their first party access to to some of that data along with YouTube and those other initiatives like its cloud business that that already gives it the edge over some of those AI chatbots and those competitors there, but like we've been saying, first of the hyperscalers to report, it's really going to set the tone for the rest of this earning season and the rest of big tech still yet to come. Ross, we just showed a chart uh showing uh alphabets p ratio, four p ratio trading really at trough levels going back over the past five years, and my question to you is, is that deserved? Now this is discounted to the s&p 500, but you heard Ally, you have Netflix maybe taking share from YouTube. You have that challenge to their search dominance, uh whether it's from agents or uh an open AI or even or even something like perplexity. Does that valuation make sense to you? I I think it does because as you all have mentioned, this is kind of an existential crisis or question facing Google, right? I mean Google is is chapstick Kleenex. It's synonymous synonymous with uh search to the point that it's it's got such a big moat around it, and now there are um you know, chips being put in that armor, and so I I do think that the multiple it's trading at is reflective of that existential question about its core business. Um now I Google has has done very well over the last 20 years. Um I I think there's a lot of reason to think it'll come out of the other side with, you know, a very strong position, but it reflects to me that that core question about what it does best, what is so central to to you know, fueling all of its other bets from Waymo to YouTube many years ago, um is that core search business and and it's under threat both from AI, but also from antitrust and regulatory issues as we've seen over the last couple of years. So there are multiple avenues with which that is being challenged. Pete, let me get over to you. Um if Alphabet comes out here and says we're going to spend just even more billions than than investors thought on AI infrastructure, what tone would that set for the MAG 7 trade? You know I I think the I think we're at a point now where if they double triple down um it's what is the what's what is the ROI we're going to be able to expect from uh these kinds of investments. Um the other questions too is uh you know are are they actually starting to lose this race? And I I think at that point, they're going to have to demonstrate some ability to um uh have this investment uh yield a return for them at some point. So I think it's going to be a struggle right now. Uh ad revenue being one, the other is the the AI piece and how what is their plan to actually bring that into the revenue stream?
