8 hours ago
The aerospace and defense ETF is having its best day since November 2020
8 hours ago
The war between Israel and Hamas is unlikely to trigger a new bear market, says the strategist
According to Sam Stovall, chief investment strategist at CFRA Research, military shocks to the market have tended to be short-lived.
“Typically, the stock market initially reacted negatively to uncertainty by falling in the first day and month after the event, but then recovering and rising 60 and 90 days later,” Stovall said.
How oil prices move in the coming days could determine whether the war between Israel and Hamas becomes a longer-lasting headwind for the market, the strategist said.
“Although oil prices rose 4.3% on the first day of trading after the attack, the U.S. dollar weakened and stock prices rose, suggesting traders believe this military shock is unlikely to trigger a new bear market either.” Stovall added.
– Hakyung Kim
8 hours ago
Bonds are currently attractive, says the strategist
It’s time to buy bonds as U.S. Treasury yields hit multi-year highs, according to Emily Roland, co-chief investment strategist at John Hancock Investment Management.
“I’ve been doing this job for about a decade now. This is actually the first time we have overweighted bonds in our portfolios. “It takes a lot to love bonds,” Roland said on CNBC’s “Closing Bell” on Monday. “
The 10-year U.S. Treasury yield hit its highest level since 2007 last week. But Roland expects investors should lock in higher yields as the Federal Reserve nears the end of its rate-hiking campaign.
“We all know that stocks are a far more powerful wealth generator over time. Therefore, we will likely return to being overweight equities once we see this decline in bond yields taking shape, which we certainly expect as the economic slowdown unfolds,” Roland said.
—Sarah Min
8 hours ago
Stock futures open flat on Monday
US stock futures opened little changed on Monday evening.
Futures tied to the Dow Jones Industrial Average fell 4 points, or 0.01%.
The S&P 500 also fell 0.01%, while Nasdaq 100 futures edged up 0.03%.
– Hakyung Kim