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Credit Ratings

A Bankrate survey reported by The Hill indicates that 60% of Americans believe the economy is in a recession, despite strong job growth and economic expansion. This sentiment spans across generations and income levels. Economic experts, however, have a positive outlook, contrasting with the public's concern over affordability and financial security. Investment firms like BMO Capital Markets and Deutsche Bank predict a potential U.S. recession by the end of 2024, with varying forecasts for the stock market in 2024, including a potential downturn for the S&P 500.

Portfolio Pulse from Benzinga Neuro

December 07, 2023 | 8:22 am

BXMT

Carson Block, founder of Muddy Waters, stated in a CNBC interview that Blackstone Mortgage Trust (BXMT) is at risk of liquidity issues.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 6:08 pm

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XOM

Wall Street is set for a rebound with U.S. futures indicating a positive open after two days of declines. The ADP National Employment Report showed weaker-than-expected private employment growth, fueling speculation about potential Fed rate cuts in 2024. Job openings decreased, suggesting a softening labor market. Oil prices fell, while gold prices rose. Chinese stocks dropped after Moody's downgraded China's credit outlook. Bitcoin and Ethereum's market value surpassed $1 trillion. SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) are up in premarket trading. NVIDIA, Tesla, Lucid Group, and Exxon Mobil saw premarket gains, while Altria Group, Philip Morris, and Plug Power faced declines.

Portfolio Pulse from Piero Cingari

December 06, 2023 | 1:49 pm

ALB

GME

GTLB

HOOD

TLT

US stocks showed weakness on Tuesday, with the S&P 500, Dow Industrials, and Russell 2000 indices closing lower, while the Nasdaq 100 remained flat. Moody's downgrade of China's credit outlook and mixed economic data influenced market sentiment. The dollar and U.S. Treasuries, particularly the iShares 20+ Year Treasury Bond ETF (TLT), gained. Gold and silver prices dropped. Bitcoin surged on rumors of a potential investment by Qatar's sovereign wealth fund. Technology and consumer discretionary sectors outperformed, while materials and energy sectors lagged. Gamestop (GME) and Albemarle Corp. (ALB) stocks fell, while GitLab (GTLB) and Robinhood (HOOD) rose.

Portfolio Pulse from Piero Cingari

December 05, 2023 | 6:15 pm

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NIO

YUMC

Moody's Investors Service downgraded its outlook on China's government credit ratings from stable to negative, citing concerns over fiscal stability and economic growth. This has led to a significant sell-off in Chinese stocks, with the iShares China Large-Cap ETF (FXI) dropping over 10% in the last 10 sessions. Major Chinese companies listed in the US, including Alibaba (BABA), Tencent (OTCPK: MPNGY), and Meituan, saw negative trading, with Yum China (YUMC) and NIO Inc. (NIO) experiencing the most notable moves.

Portfolio Pulse from Piero Cingari

December 05, 2023 | 6:07 pm

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Moody's has downgraded China's credit outlook to negative, citing the property sector crisis and local government debt. The largest Chinese property developer, Evergrande, is close to liquidation. Meanwhile, the 'magnificent seven' U.S. stocks (AAPL, AMZN, GOOG, META, MSFT, NVDA, TSLA) are experiencing slight profit-taking. Early trade money flows are positive for AAPL but negative for AMZN, NVDA, MSFT, GOOG, META, TSLA, SPY, and QQQ. J M Smucker Co (SJM) reported a 7% revenue increase, indicating consumer willingness to pay higher prices. The Arora Report advises investors to maintain a protection band strategy to balance various market crosscurrents.

Portfolio Pulse from The Arora Report

December 05, 2023 | 4:19 pm

BABA

FXI

PDD

Alibaba Group Holding Ltd (BABA) stock is trading lower, in line with the IShares China Large-Cap ETF (FXI), due to Moody's negative outlook on China's credit ratings. Alibaba lost its position as China's most valuable e-commerce company to PDD Holdings Inc (PDD). Cainiao, Alibaba's logistics arm, helped China achieve a record 120 billion parcel deliveries in 2023. Alibaba (China) Network Technology has transferred equity stakes in several companies to Hangzhou Haoyue Enterprise Management, including stakes in Focus Media and YTO Express.

Portfolio Pulse from Anusuya Lahiri

December 05, 2023 | 3:00 pm

BABA

BIDU

BTC

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GTLB

PDD

SJM

TLT

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TTWO

Stock futures are down in premarket trading amid a risk-off sentiment triggered by Moody's downgrade of China's credit outlook. The iShares 20+ Year Treasury Bond ETF (TLT) is up, while Bitcoin (BTC) and SPDR Gold Trust (GLD) see minor losses. US-listed Chinese stocks, including PDD, BIDU, TME, JD, and BABA, are down. GitLab (GTLB) and The J.M. Smucker Company (SJM) are up on positive earnings and raised guidance, respectively. Take-Two Interactive (TTWO) is down due to a game trailer leak.

Portfolio Pulse from Piero Cingari

December 05, 2023 | 1:39 pm

AGG

SPY

UDN

UUP

The U.S. dollar experienced a decline in November, with the dollar index (DXY) falling 3.1% as markets anticipated the Federal Reserve might start cutting rates in early 2024. Despite a slight comeback in the last two days of November, analysts expect the dollar's rally to be short-lived due to high rate cut optimism and equity market gains. The S&P 500 index rose 8.9% in November, and the SPDR S&P 500 ETF (SPY) gained 9.1%. The Invesco DB USD Index Bullish Fund ETF (UUP) fell 2.5%, while the Invesco DB US Dollar Index Bearish Fund (UDN) rose 3.3%. The iShares Core U.S. Aggregate Bond ETF (AGG) gained 4.3% as U.S. government bond prices increased and yields retreated from 16-year highs.

Portfolio Pulse from Neil Dennis

December 01, 2023 | 3:27 pm

CNHI

S&P Global Ratings upgraded CNH Industrial N.V.'s long-term issuer credit ratings from 'BBB' to 'BBB+' and affirmed the 'A-2' short-term issuer credit rating. The ratings upgrade also applies to CNH Industrial Capital LLC's senior unsecured debt. The outlook for CNH Industrial is stable.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 7:30 am