Stock-market analyst who called 2018 rout says if earnings are weak, ‘I don’t think stocks are going to look through it’

Morgan Stanley’s chief equity strategist Michael Wilson says the Federal Reserve’s Wednesday decision underlined the central bank’s uber-dovish stance, which means corporate earnings are going to be paramount for stock-market investors. Speaking to CNBC on Thursday morning, the strategist said the Fed statement was “kind of the full capitulation” by the Federal Open Market Committee, after it left rates unchanged, […]

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Fund managers dump stocks, buy into ‘secular stagnation’ theory: BofA Merrill Lynch

Fund managers in March allocated the smaller chunk of their holdings to equities since at any point since 2016, one indicator among several that they are embracing the theory of “secular stagnation,” according to Bank of America Merrill Lynch. ”There is simply no ‘greed’ to sell in equities,” wrote Michael Hartnett, chief investment strategist in a Tuesday note. “Investors are […]

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Bulls looking for repeat of 2016 stock-market rally will be disappointed: Morgan Stanley

U.S. stocks continue to rally in the face of steadily falling earnings estimates, leading some market commentators to draw comparisons to 2016, when equity markets rose amid a corporate earnings recession. That year, the S&P 500 index SPX, +0.20% rose 9.5% after an early stumble as earnings-per-share for S&P 500 firms rose just 1.2%, according to FactSet. Stock-market bulls hope […]

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Kirkland’s stock slides 10% premarket as profit and guidance fall short

Shares of home decor retailer Kirkland’s Inc. KIRK, -0.67% slid 10% in premarket trade Friday after posting weaker-than-expected profit in the latest quarter and offering guidance that was below consensus. Nashville, Tenn.-based Kirkland’s said it had net income of $14.2 million, or 95 cents a share, in its fiscal fourth-quarter to Feb. 2, up from $12.9 million, or 79 cents […]

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Longtime market bull sees unsettling parallel between today and March 2000

Plenty of pundits have compared the trading action in today’s market to the bursting of the dot-com bubble, but the latest Wall Street type to make that connection isn’t your typical broken-clock bear. Here’s what longtime bull and Institutional Investor hall of famer Richard Bernstein had to say on CNBC this week about the state of the market. He ought […]

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