one hour ago
KBW Block Cuts
KBW analyst Stephen Kwok downgraded Block to Market Outperformance from Outperformance, citing pressure from small risks piling up.
“We believe SQ’s risk/reward profile has become less attractive as multiple risks have begun to build up,” he wrote. “The big items revolve around increased competition in the acquisition process, and the potential for regulatory scrutiny within the cash applications segment.”
CNBC Pro subscribers can read more here.
– Brian Evans
2 hours ago
Vital Knowledge says investors are preparing for earnings season
Wall Street is gearing up for a big earnings season, as Delta Airlines and major banks like JPMorgan Chase and Wells Fargo are due to report this week.
“Many are now preparing to hear from Corporate America over the coming weeks to receive minute details on the state of the economy,” wrote Adam Crisavoli of Vital Knowledge.
Crisavoli also said that while fears of a “hard landing” have subsided a bit, “market participants are far from relieved.”
“Ahead of first-quarter earnings, the CPI for March arrives on Wednesday, and the reading is expected to be very mixed, with a significant drop in headline inflation but a slight uptick in the headline,” he said.
– Fred Imbert, Michael Blum
8 hours ago
CNBC Pro: This hedge fund beats both the S&P 500 and the Dow. Here’s what his boss buys and avoids
3 hours ago
CNBC Pro: Sell These 6 Mining Stocks and Load These 8 Energy Stocks Instead, Says UBS
Sell mining stocks and invest in energy stocks instead – that’s the message from Swiss investment bank UBS.
On the one hand, the bank believes that “out of sync” global growth and fears of a recession in the United States are making it difficult for mining companies to do well. On the other hand, UBS expects energy stocks to continue to deliver ample cash flow this year, according to UBS.
CNBC Pro subscribers can read more here.
– Ganesh Rao
13 hours ago
Stock futures rose slightly Sunday evening
Futures linked to the major averages opened slightly higher on Sunday evening.
The Dow Jones Industrial Average added 52 points, or 0.15%. S&P 500 futures rose 0.16% and Nasdaq 100 futures hovered above the flat line at 0.02%.
On Thursday, the major averages rose to end a holiday-shortened trading week. However, the S&P 500 and Nasdaq Composite posted weekly losses, while the Dow Index posted weekly gains.
The S&P 500 lost 0.1% over the course of the week, its first losing week in four, and closed at 4,105.02. The tech-heavy Nasdaq fell 1.1% over the week, to 12,087.96. The 30-share Dow Index posted a weekly gain of 0.6%, closing at 33,485.29.
– Tanaya McHale
“Beer aficionado. Gamer. Alcohol fanatic. Evil food trailblazer. Avid bacon maven.”