Fundstrat’s Tom Lee says FAANG stocks are value buys amid tech sell-off
CNBC PUBLISHED WED, APR 27 2022 12:47 PM EDT Samantha Subin Fundstrat Global Advisors’ Tom Lee believes the latest tech sell-off is a buying opportunity for FAANG names that are on the verge of value prices. “As you know investing isn’t really about trying to make money every month, but it is about trying to […]
Top Wall Street analysts are getting bullish on these stocks for the long run
CNBC PUBLISHED SUN, MAY 1 2022 9:11 AM EDT Swati Goyal, Tipranks.com Earnings season can bring heightened volatility to the markets, and this time it’s showing no sign of slowing down. In tumultuous times like these, short-term bets can be dangerous. Instead, investors may better withstand the turbulence by taking a long-term perspective. Some of Wall […]
Analysts are mostly confident Amazon can work through inflationary pressures, JPMorgan says ‘buy the pullback’
CNBC PUBLISHED FRI, APR 29 202210:22 AM EDT Sarah Min@_SARAHMIN Wall Street analysts haven’t lost faith in Amazon even after the e-commerce giant’s mixed quarterly report. Amazon shares dropped nearly 12% on Friday after the company signaled rising inflation will hurt sales amid growing exposure to macro pressures from the Russia invasion in Ukraine. Amazon also recorded […]
Buffett bought more Apple last quarter and says he would have added more if the stock didn’t rebound
CNBC PUBLISHED MON, MAY 2 20228:33 AM EDT Yun Li@YUNLI626 Warren Buffett bought the dip in his No. 1 stock Apple during the tech giant’s sell-off in the first quarter. Berkshire Hathaway’s Chairman and CEO told CNBC’s Becky Quick that he scooped up $600 million worth of Apple shares following a three-day decline in the stock last quarter. Apple […]
Cloud computing is a bright spot for tech as the economy grapples with war and inflation
PUBLISHED FRI, APR 29 202212:05 PM EDT By Jordan Novet on cnbc.com Central banks lifted interest rates to tamp down inflation in the first quarter, and a hot war broke out in Europe. Those shifts have been weakening demand across some parts of the economy. But several of world’s largest technology companies have a business buffer against […]
U.S. consumer spending accelerates; wage inflation rising
By Lucia Mutikani Thomson Reuters Summary Consumer spending increases 1.1% in March PCE price index jumps 0.9%; up 6.6% year-on-year Core PCE gains 0.3%; increases 5.2% year-on-year Employment cost index surges 1.4% in first quarter WASHINGTON, April 29 (Reuters) – U.S. consumer spending rose more than expected in March amid strong demand for services, while monthly […]
The U.S. economy contracted to start the year, but a recession hardly appears imminent
PUBLISHED THU, APR 28 20221:27 PM EDT Jeff Cox Technically speaking, the negative economic growth in the first quarter looks like the U.S. is halfway down the road to recession. After all, the generally accepted definition of a recession is two consecutive quarters with a minus sign before the GDP number. A look under the […]
U.S. Economy Posts Surprise Contraction, Belying Solid Consumer
Thursday, April 28, 2022 07:22 AM By Olivia Rockema GDP declines an annualized 1.4% on huge rise in trade deficit Pace of consumer spending growth, business investment pick up (Bloomberg) — The U.S. economy shrank for the first time since 2020, reflecting an import surge tied to robust consumer demand. While the surprise contraction adds to […]
GDP Likely to Show ‘Misleading’ U.S. Weakness as Fed Plots Path
Wednesday, April 27, 2022 03:00 AM By Reade Pickert Projected 1.1% 1Q GDP growth belies solid consumer spending Income and spending report to show big impact of inflation (Bloomberg) — The U.S. economy’s latest report card — featuring fresh readouts on growth, inflation, spending and wages in the first three months of the year — […]
AmEx profit beats estimates as card spending rebounds
By Mehnaz Yasmin and Niket Nishant April 22 (Reuters) – American Express Co (AXP.N) on Friday topped first-quarter profit estimates as card spending rebounded from last year, dwarfing a jump in costs due to higher reward payouts. Expenses rose 34% to $9.06 billion on higher customer engagement costs, the company said, sending shares down nearly 2% in morning trading. […]