37 minutes ago
CNBC Pro: ‘Very, very attractive’: Strategist names two U.S. small-cap stocks to watch right now
Market strategist Matt Orton thinks there’s promise in small- and mid-cap stocks this year, naming four notable companies he’s currently bullish on.
“I’m optimistic about small-cap stocks this year, and they seem to be on the precipice of an even bigger breakout,” Orton, chief market strategist at asset management firm Raymond James Investment Management, told CNBC. He spoke on the show “Squawk Box.” Asia” April 1st.
He said he sees small-cap U.S. companies as “very attractive” right now, naming two lesser-known companies as his favorites.
CNBC Pro subscribers can read more here.
— Amara Balakrishna
37 minutes ago
CNBC Pro: 5 stocks to buy and hold for the long term, according to the pros.
Long-term investing is no mean feat.
David Dietze, managing partner and senior portfolio strategist at Peapack Private Wealth Management, says that longer investment horizons “could last 10, 20 or even 40 years from now. We need to look for business models and strategies that are highly sustainable.”
CNBC Pro spoke to three fund managers about stocks to buy now and hold for the long term.
CNBC Pro subscribers can read Top 5 Stocks here.
— Amara Balakrishna
4 hours ago
Bank of America says ‘unusual combination’ is boosting global stock markets
Bank of America says the global economy and foreign stock markets are starting to wake up.
The United States was one of the few countries with strong economies and markets in 2023, but things appear to be changing in the new year. Quantitative strategist Nigel Tapper said in a note to clients that the MSCI AC World Index is up more than 7% since the first quarter, and the “global wave” of economic indicators is trending upwards. .
Meanwhile, the Swiss National Bank cut its benchmark interest rate last month, becoming the first of several major central banks expected to cut rates this year.
“The rare combination of better data and easing policy is a powerful mechanism for global stock markets,” the note said.
— Jesse Pound, Michael Bloom
5 hours ago
Cryptocurrency stocks fall along with Bitcoin as busy quarter begins for digital asset businesses
Bitcoin fell at the start of the new month and quarter, and crypto stocks fell along with it.
The cryptocurrency’s price last fell 3.5% to 68,477.88 as US Treasury yields surged and the dollar strengthened on data showing growth in the manufacturing sector for the first time since September 2022, according to Coin Metrics. It became a dollar.
Cryptocurrency exchange Coinbase and software provider MicroStrategy, which primarily trade on behalf of Bitcoin prices, each fell about 5%. The biggest mining stocks, Marathon Digital and Riot Platforms, fell 5% and 6%, respectively. CleanSpark, one of the best-performing miners this year, is down 10%.
April could be a turbulent month for crypto stocks. Investors are keeping an eye on Bitcoin’s halving later this month, which will reduce Bitcoin miners’ rewards and therefore their incomes. While this event may have a negative impact on miner performance, historically Bitcoin has risen more than 300% in the months since.
For more information on what to expect in the coming weeks, read our second quarter crypto outlook here.
— Tanaya Machel
6 hours ago
Oil prices rise after reports of missile attack on Iranian consulate in Damascus
Crude oil futures rose on the first day of second-quarter trading on Monday after reports that the Iranian consulate in Damascus came under missile attack.
West Texas Intermediate for May delivery rose $1.28, or 1.54%, to $84.45 per barrel. The Brent contract for June delivery rose 93 cents, or 1.07%, to $87.93 a barrel.
Syrian and Iranian state media reported on Monday that an Israeli missile attack hit the Iranian consulate in Damascus. A Lebanese security source told Reuters that among the dead was Mohammad Reza Zahedi, a senior commander in Iran’s Revolutionary Guard Corps.
RossMKM analyst Leo Mariani told clients on Monday: “If confirmed, this news is a clear escalation of the Middle East conflict and will likely continue to push oil prices higher in the near term.” Ta.
