Latest news with #SWBC
Yahoo
26-06-2025
- Business
- Yahoo
Stunning turnaround: The stock market is on the verge of an all-time record
The S&P 500 is on the cusp of a record high. That's a remarkable change of events, since the index was on the brink of a bear market just two months ago. US stocks on Wednesday were mixed, with a new high for the S&P 500 less than 1% away. The Dow closed lower by 107 points, or 0.25%. The broader S&P 500 was flat, and the tech-heavy Nasdaq Composite gained 0.31%. The S&P 500 had soared 2.1% across the past two days as investors welcomed a ceasefire, albeit fragile, between Israel and Iran. As the stock market has climbed back toward record highs, investors are wondering whether there is room for stocks to climb higher or if further roadblocks lie ahead. The S&P 500 on Tuesday had closed just 0.85% away from an all-time high before closing flat on Wednesday. 'As Middle East tensions de-escalate, the focus will return to more fundamental concerns for investors such as tariffs, earnings, the federal deficit and President Trump's One Big Beautiful Bill,' said Chris Brigati, chief investment officer at SWBC, in a Tuesday note. Despite plenty of headwinds, including the possibility of reignited inflation from higher tariffs this summer, some Wall Street analysts believe stocks still have room to rise. 'We are not looking for a massive rally from current levels, but believe that the path of least resistance is a grind higher,' said Mohit Kumar, an economist and strategist at Jefferies, in a Wednesday note. The US stock market has been on a wild ride this year. After tumbling into correction in March and flirting with a bear market in April, the index recouped its losses in May and June and is up more than 3.5% year-to-date. The S&P 500 had entered the year hitting record high after record high. The index hit its last record high on February 19 as Wall Street rallied at the start of Trump's second term. The index began to tumble in March and April as the president unveiled his tariff policy, and it's been trying to claw its way back toward a new record high since. After Trump's 'Liberation Day' tariffs on April 2, the S&P 500 closed at its lowest level this year on April 8, down 18.9% from its February record high. At its low, the S&P 500 had shed $9.8 trillion in market value since its record high, according to FactSet data. The S&P 500 rallied sharply in April after Trump walked back his massive 'reciprocal' tariffs. The index then gained 6.15% across May as the rebound rally accelerated, posting its best monthly gain since November 2023 and its best performance in May since 1990. The benchmark index is up 3% so far in June, recovering trillions of dollars in market value since April. Although the Trump administration has only announced a trade deal with the United Kingdom and a truce in its trade war with China, many investors have been betting that the worst of the tariff confusion is in the past. As the market has recovered, momentum around US tech and artificial intelligence has begun to pick up pace. The Nasdaq 100 on Tuesday closed at an all-time high, notching its first new record high since February. The Nasdaq 100 is an index compromised of the largest tech companies in the United States. Nvidia (NVDA) on Wednesday rose 4.33% and closed at an all-time high, surpassing its previous record high in January. The chipmaker had dropped as much as 37% from its January high to its low point in April before staging a sharp rebound and climbing to a new record high. Tech and AI stocks are beginning to return to their 'leadership' in US markets, helping push the major indexes higher, said Ross Mayfield, an investment strategist at Baird. 'Does it become a bubble at some point? I think it's possible, but I don't think we're there yet,' Mayfield said. 'And in the meantime, getting leadership from these big tech names is huge for a US market that's hyper-concentrated in that area.' Keith Buchanan, senior portfolio manager at Globalt Investments, said the market has climbed to a level that might not be justified given the economic backdrop. The market is 'looking through' some of the 'present and clear' risks associated with tariffs and how they might impact the economy, Buchanan said. 'It can do that at times in an irrational way,' he said. 'There are concerns about what the future holds from a profitability standpoint.' While Wall Street has shrugged off the Israel-Iran conflict and awaited developments on the trade front, investors are also trying to gauge where tariff rates ultimately settle and what other factors might impact markets. The current average tariff rate would still result in the highest tariffs in 90 years, noted Torsten Slok, chief economist at Apollo, in a Monday note to investors. That would lead to slower economic growth, higher inflation and higher interest rates for longer, according to Slok — all major obstacles to the S&P 500 climbing higher. Geopolitics and second quarter earnings releases beginning in mid-July are other catalysts that could impact investor sentiment and the market, said Eric Freedman, CIO at US Bank Asset Management, said in a Monday note. 'How companies are absorbing or passing on tariff price increases represents a key item of investor interest in upcoming quarterly releases, with investors gauging the future impact on inflation, interest rates and economic growth,' Freedman said. Kumar at Jefferies said in a Wednesday note that he is looking for how US jobs data holds up this summer and whether Treasury yields rise due to concerns about the deficit, which could pull investors away from stocks. 'The main message for investors is to stay invested and avoid reacting sharply to any news or market reaction that may have a short-term negative impact upon equity prices,' SWBC's Brigati said. 'It is nearly impossible to attempt to time the market, therefore maintaining a disciplined and long-term investing approach serves investors well.' 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
9 News
25-06-2025
- Business
- 9 News
Stunning turnaround: US stock market on precipice of all-time record
Your web browser is no longer supported. To improve your experience update it here The S&P 500 is on the cusp of a record high. That's a remarkable change of events, since the index was on the brink of a bear market just two months ago. US stocks on Wednesday were mixed, with a new high for the S&P 500 less than 1 per cent away. The Dow was down 135 points, or 0.31 per cent, as of the early afternoon. The broader S&P 500 was flat and the tech-heavy Nasdaq Composite gained 0.25 per cent. The S&P 500 soared 2.1 per cent across the past two days as investors welcomed a ceasefire, albeit fragile, between Israel and Iran. As the stock market has climbed back towards record highs, investors are wondering whether there is room for stocks to climb higher or if further roadblocks lie ahead. The S&P 500 on Tuesday closed higher by 1.11 per cent. The index closed just 0.85 per cent away from a new record high. (Yuki Iwamura/AP via CNN Newsource) The S&P 500 on Tuesday had closed just 0.85 per cent away from an all-time high. "As Middle East tensions de-escalate, the focus will return to more fundamental concerns for investors such as tariffs, earnings, the federal deficit and President Trump's One Big Beautiful Bill," said Chris Brigati, chief investment officer at SWBC, in a Tuesday note. Despite plenty of headwinds, including the possibility of reignited inflation from higher tariffs this summer, some Wall Street analysts believe stocks still have room to rise. "We are not looking for a massive rally from current levels, but believe that the path of least resistance is a grind higher," said Mohit Kumar, an economist and strategist at Jefferies, in a Wednesday note. The US stock market has been on a wild ride this year. After tumbling into correction in March and flirting with a bear market in April, the index recouped its losses in May and June and is up more than 3.5 per cent year-to-date. The S&P 500 had entered the year hitting record high after record high. The index hit its last record high on February 19 as Wall Street rallied at the start of Trump's second term. Specialist Dilip Patel, left, and trader Robert Charmak work on the floor of the New York Stock Exchange, Monday, June 23, 2025. (AP Photo/Richard Drew) The index began to tumble in March and April as the president unveiled his tariff policy, and it's been trying to claw its way back toward a new record high since. After Trump's "Liberation Day" tariffs on April 2, the S&P 500 closed at its lowest level this year on April 8, down 18.9 per cent from its February record high. The S&P 500 rallied sharply in April after Trump walked back his massive "reciprocal" tariffs. The index then gained 6.15 per cent across May as the rebound rally accelerated, posting its best monthly gain since November 2023 and its best performance in May since 1990. The benchmark index is up 3 per cent so far in June. Although the Trump administration has only announced a trade deal with the United Kingdom and a truce in its trade war with China, many investors have been betting that the worst of the tariff confusion is in the past. A Wall Street sign hangs near to the New York Stock Exchange, Wednesday, June 18, 2025, in New York. (AP Photo/Yuki Iwamura) As the market has recovered, momentum around US tech and artificial intelligence has begun to pick up pace. The Nasdaq 100 on Tuesday closed at an all-time high, notching its first new record high since February. The Nasdaq 100 is an index comprising the largest tech companies in the United States. Tech and AI stocks are beginning to return to their "leadership" in US markets, helping push the major indexes higher, said Ross Mayfield, an investment strategist at Baird. "Does it become a bubble at some point? I think it's possible, but I don't think we're there yet," Mayfield said. "And in the meantime, getting leadership from these big tech names is huge for a US market that's hyper-concentrated in that area." Keith Buchanan, senior portfolio manager at Globalt Investments, said the market has climbed to a level that might not be justified given the economic backdrop. The market is "looking through" some of the "present and clear" risks associated with tariffs and how they might impact the economy, Buchanan said. "It can do that at times in an irrational way," he said. "There are concerns about what the future holds from a profitability standpoint." While Wall Street has shrugged off the Israel-Iran conflict and awaited developments on the trade front, investors are also trying to gauge where tariff rates ultimately settle and what other factors might impact markets. The current average tariff rate would still result in the highest tariffs in 90 years, noted Torsten Slok, chief economist at Apollo, in a Monday note to investors. That would lead to slower economic growth, higher inflation and higher interest rates for longer, according to Slok — all major obstacles to the S&P 500 climbing higher. Geopolitics and second quarter earnings releases beginning in mid-July are other catalysts that could impact investor sentiment and the market, said Eric Freedman, CIO at US Bank Asset Management, said in a Monday note. "How companies are absorbing or passing on tariff price increases represents a key item of investor interest in upcoming quarterly releases, with investors gauging the future impact on inflation, interest rates and economic growth," Freedman said. Kumar at Jefferies said in a Wednesday note that he is looking for how US jobs data holds up this summer and whether Treasury yields rise due to concerns about the deficit, which could pull investors away from stocks. "The main message for investors is to stay invested and avoid reacting sharply to any news or market reaction that may have a short-term negative impact upon equity prices," SWBC's Brigati said. "It is nearly impossible to attempt to time the market, therefore maintaining a disciplined and long-term investing approach serves investors well." CONTACT US Auto news:Is this the next Subaru WRX? Mysterious performance car teased.
CNN
25-06-2025
- Business
- CNN
The stock market is on the precipice of an all-time record. How'd we get here?
The S&P 500 is on the cusp of a record high. It's been a remarkable change of events since the index was on the brink of a bear market just two months ago. The S&P 500 on Tuesday closed just 0.85% away from an all-time high. US stocks on Wednesday were set to open mixed. Dow futures were down 25 points. S&P 500 futures hovered around the flatline and Nasdaq 100 futures were up 0.15%. The S&P 500 soared 2.1% across the past two days as investors welcomed a ceasefire, albeit fragile, between Israel and Iran. As the stock market has climbed back toward record highs, investors are wondering whether there is room for stocks to climb higher or if further roadblocks lie ahead. 'As Middle East tensions de-escalate, the focus will return to more fundamental concerns for investors such as tariffs, earnings, the federal deficit and President Trump's One Big Beautiful Bill,' said Chris Brigati, chief investment officer at SWBC, in a Tuesday note. Despite plenty of headwinds, including the possibility of reignited inflation from higher tariffs this summer, some Wall Street analysts believe stocks still have room to rise. 'We are not looking for a massive rally from current levels, but believe that the path of least resistance is a grind higher,' said Mohit Kumar, an economist and strategist at Jefferies, in a Wednesday note. The US stock market has been on a wild ride this year. After tumbling into correction in March and flirting with a bear market in April, the index recouped its losses in May and June and is up more than 3.5% year-to-date. The S&P 500 had entered the year hitting record high after record high. The index hit its last record high on February 19 as Wall Street rallied at the start of Trump's second term. The index began to tumble in March and April as the president unveiled his tariff policy, and it's been trying to claw its way back toward a new record high since. After Trump's 'Liberation Day' tariffs on April 2, the S&P 500 closed at its lowest level this year on April 8, down 18.9% from its February record high. The S&P 500 rallied sharply in April after Trump walked back his massive 'reciprocal' tariffs. The index then gained 6.15% across May as the rebound rally accelerated, posting its best monthly gain since November 2023 and its best performance in May since 1990. The benchmark index is up 3% so far in June. Although the Trump administration has only announced a trade deal with the United Kingdom and a truce in its trade war with China, many investors have been betting that the worst of the tariff confusion is in the past. As the market has recovered, momentum around US tech and artificial intelligence has begun to pick up pace. The Nasdaq 100 on Tuesday closed at an all-time high, notching its first new record high since February. The Nasdaq 100 is an index compromised of the largest tech companies in the United States. Tech and AI stocks are beginning to return to their 'leadership' in US markets, helping push the major indexes higher, said Ross Mayfield, an investment strategist at Baird. 'Does it become a bubble at some point? I think it's possible, but I don't think we're there yet,' Mayfield said. 'And in the meantime, getting leadership from these big tech names is huge for a US market that's hyper-concentrated in that area.' While Wall Street has shrugged off the Israel-Iran conflict and awaited developments on the trade front, investors are also trying to gauge where tariff rates ultimately settle and what other factors might impact markets. The current average tariff rate would still result in the highest tariffs in 90 years, noted Torsten Slok, chief economist at Apollo, in a Monday note to investors. That would lead to slower economic growth, higher inflation and higher interest rates for longer, according to Slok — all major obstacles to the S&P 500 climbing higher. Geopolitics and second quarter earnings releases beginning in mid-July are other catalysts that could impact investor sentiment and the market, said Eric Freedman, CIO at US Bank Asset Management, said in a Monday note. 'How companies are absorbing or passing on tariff price increases represents a key item of investor interest in upcoming quarterly releases, with investors gauging the future impact on inflation, interest rates and economic growth,' Freedman said. Kumar at Jefferies said in a Wednesday note that he is looking for how US jobs data holds up this summer and whether Treasury yields rise due to concerns about the deficit, which could pull investors away from stocks. 'The main message for investors is to stay invested and avoid reacting sharply to any news or market reaction that may have a short-term negative impact upon equity prices,' SWBC's Brigati said. 'It is nearly impossible to attempt to time the market, therefore maintaining a disciplined and long-term investing approach serves investors well.'
Business Recorder
25-06-2025
- Business
- Business Recorder
European stocks hit one-week highs on Mideast ceasefire
FRANKFURT: European stocks soared on Tuesday, buoyed by a ceasefire between Israel and Iran, while a slump in oil prices dragged energy stocks lower. The pan-European STOXX 600 index rose 1.11%, hitting a one-week high during the session and notching its biggest single-day jump in over a month. While most sectors basked in the rally, energy stocks lagged as oil prices tumbled 5%. The sharp drop came after Iran's token response signalled no imminent threat to the critical Strait of Hormuz shipping route. Airlines and travel stocks soared, with the sector vaulting 4.3% - its biggest daily rise in more than 18 months - as hopes rose that the ceasefire would stick. The optimism followed US President Donald Trump's late-Monday announcement that Israel and Iran had agreed to halt hostilities, a deal he confirmed was 'in effect', pressing both sides to honour the truce. Iran's President Masoud Pezeshkian echoed that sentiment, vowing Tehran would stick to the deal unless provoked by Israel. 'There is political will and a desire for peace from all parties... If they can follow through, I think we will see a permanent ceasefire and we have to believe it can happen,' said Nick Saunders, CEO of stock trading platform Webull UK. Germany's DAX surged 1.6%, riding a dual wave of ceasefire relief and fresh economic stimulus after lawmakers approved record-setting investment plans for 2025 and 2026 to jump-start growth in Europe's economic powerhouse. Other bourses also gained, with French and Spanish markets up more than 1% each, while Britain's was flat. As the quarter winds down, the STOXX 600 is on track for a second straight quarterly gain, though the index is still set to close the month more than 1% lower. With Middle East tensions easing, investor focus is shifting to the looming July 8 US tariff-pause deadline, as the EU hustles to clinch trade deals with Washington. Progress has been slow, save for an agreement with London. 'As Middle East tensions de-escalate, the focus will return to more fundamental concerns for investors such as tariffs,' said Chris Brigati, chief investment officer at SWBC. Among other stocks, Carnival Corp jumped 11.8% after the cruise operator raised its annual profit forecast.
Business Insider
24-06-2025
- Business
- Business Insider
Tech stocks power Nasdaq 100 to a record high as markets celebrate the Israel-Iran ceasefire
Markets are cheering the ceasefire between Israel and Iran, even as Trump voices concern. The news is good enough for investors, who have spent the last week fretting over the conflict. The tech-heavy Nasdaq 100 closed at a record high. Investors welcomed Trump's announcement on Monday evening that Israel and Iran had agreed to a ceasefire, and then stayed upbeat throughout Tuesday, even as the president fired off a series of posts on Tuesday urging Israel to stick to the agreement he brokered. Traders also weighed comments from Fed Chair Jerome Powell that spurred optimism around interest-rate cuts. "If it turns out that inflation pressures do remain contained, then we will get to a place where we cut rates, sooner rather than later," Powell told lawmakers when asked about lowering rates in July, although he stopped short of providing a specific timeline. The result was a fresh record in the tech-heavy Nasdaq 100, and an Samp;P 500 that finished the trading day just 0.8% shy of all-time highs. Here's where major indexes stood at the 4 p.m. ET market close on Tuesday: Samp;P 500: 6,092.22, up 1.1% Dow Jones Industrial Average: 43,089.02, up 1.2% (507 points) Nasdaq 100: 22,190.52, up 1.5% Investors have been fretting for more than a week over the economic implications if tensions in the Middle East were to escalate. But for now, the cease-fire appears to have lifted their spirits. "So, with the immediate geopolitical tensions dialed down, investors are free to focus on President Trump's trade war and the first tariff deadline coming up in a couple of weeks," David Morrison, a senior market analyst at Trade Nation, wrote in a note on Tuesday, adding that he believed stocks were still in a bull market. "As far as investors are concerned, they've just stared down the prospect of World War Three, so they're not going to be fussed by a few percentage points on US imports," he added of tariff risks. "This de-escalation is leading investors to be more comfortable engaging in risk-on trades in the equity market. Even if there is further escalation, it appears that Iran has limited abilities to retaliate, which is strengthening expectations that this conflict will calm down," Chris Brigati, the chief investment officer at SWBC, said in a statement. Oil prices, which spiked as tensions in the Middle East escalated, dropped sharply from their recent highs. Brent crude, which spiked 14% amid the 12-day conflict, traded as much as 7% lower on Tuesday, to around $67 a barrel. West Texas Intermediate crude, which rose more than 10% over the same period, also fell 7% at intraday lows, below levels the day the Israel-Iran conflict started. The declines are signs that oil markets are no longer fretting over possible supply disruptions in the Middle East, according to Alex Kuptsikevich, the chief market analyst at FXPro. "Retreating to levels seen before the latest conflict, the price recouped the 'war premium,'" Kuptsikevich wrote in a note on Tuesday. Here are other important moves in the market: Investors, though, are still on watch for signs that conflict could re-escalate in the coming days. "Markets breathed a sigh of relief following Trump's ceasefire declaration, but the celebration could be short-lived. If tensions flare again or the ceasefire is violated, we could see a swift return to risk aversion — boosting safe havens like gold and pressuring global equities," Lukman Otunuga, a senior market analyst at FXTM, wrote in a note.
