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Mondelez to hold a virtual investor event

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Category: blogSource: theflyonthewallMay 26th, 2021

Mondelez to hold a virtual investor event

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

Category: blogSource: theflyonthewallMay 26th, 2021

Kornit Digital to hold a virtual investor event

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Category: blogSource: theflyonthewallMay 18th, 2021

Seagate to hold a virtual investor event

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Category: blogSource: theflyonthewallFeb 24th, 2021

"Changes In Markets Happen Slowly... Then All At Once"

"Changes In Markets Happen Slowly... Then All At Once" Authored by Lance Roberts via RealInvestmentAdvice.com, Correction Is Over As Bulls Jump Back Into The “Risk Pool.” As noted last week, retail investors didn’t step in right away to buy the dip at the 50-dma. However, they did show up on Monday afternoon and continued to buy through the rest of the week. “With the market very oversold, a counter-trend bounce next week will not be a surprise. However, if the market fails to hold the 50-dma, the risk of a more substantial correction is likely.” Notably, two essential things occurred this week. The market regained its 50-dma and triggered our RIAPRO Money Flow “buy” signal. Both suggest that bulls have regained control, and we could see some follow-through buying next week. Over the past several weeks, in various forms, we discussed our reduction in risk by rebalancing equities, raising cash, and extending our duration in our bond portfolio. To wit: “With volatility currently at the lows of its recent range, a pick-up in volatility would not be surprising. Over the last 6-months, corrections remain range-bound to the 50-dma which is currently 3% lower than closing levels. While such a decline is well within the norms of a correction in any given market year, the low levels of volatility will make it ‘feel’ worse than it is. With money flows continuing to weaken and technical indicators setting up to produce sell signals, we reduced exposure a bit more this week by increasing cash and reducing our financial holdings. “ – August 13th. With the markets now deeply oversold on a short-term basis, we deployed some of our cash throughout the week to rebalance the portfolio toward normal allocation levels. We don’t expect a tremendous amount of upside, given the ongoing weakness of market internals, but a retest of previous highs is not out of the question. Particularly since the Fed “threaded the needle.” The Fed Threads The Needle On Taper For weeks now, the Fed has been prepping the market for “taper talk.” Stocks sold off a bit in anticipation of the announcement, effectively “pricing in” a mildly hawkish stance. Jerome Powell did not fail to deliver during his press conference by announcing taper with no timeline. With respect to progress towards taper, Powell commented, “In my own thinking, the test is all but met”. “I think if the economy continues to progress broadly in line with expectations and the overall situation is appropriate for this, we could easily move ahead [with taper] by next meeting, or not…” Again, with respect to a decision for November taper, “I don’t need to see a good employment report next month; I just need to see a decent employment report”. Powell is clearly signaling that Fed is likely to announce taper in November barring an unexpected deterioration in economic conditions. Powell commented that it may be appropriate for taper to conclude by mid-2022. As expected, Powell left a back door open in case taper doesn’t go over well. “If necessary, we can accelerate or decelerate the taper”. As we noted in our Daily Market Commentary (subscribe for pre-market delivery): “The Fed has done a decent job of telegraphing when tapering is likely to begin (most market participants believe the announcement will come this year), but more importantly it’s because the asset purchase reductions are likely to be trivial when seen in the context of how large the fixed income markets are today, and how overwhelming the demand for income has become.” – Rick Rieder, BlackRock’s CIO of Global Fixed Income From the market’s perspective, a $15 billion reduction in purchases says the Fed isn’t removing the “punch bowl.” However, as shown in the table below, taper becomes an issue in 2022. 3 Signs Of The Next Bear Market I previously warned that during the subsequent 5% correction, it would “feel” much worse than it was. However, gauging by the number of emails asking about the “crash,” why we weren’t heavily short the market, and we were crazy for “buying” the recent lows, it is clear sentiment has gotten extremely negative. The question I received the most was, “Is this the beginning of a bear market?” The answer is “no.” Currently, bullish sentiment remains high, global liquidity flows are strong, and stock buybacks are at a record. While those issues are supportive of stocks currently, they are also dependent on rising asset prices. So, for investors, there are 3-signs that will signal the next bear market or recession is approaching, requiring a more defensive investment posture. 1. Yield Curve Inversion (Not Yet) The yield curve is one of the most important indicators for determining when a recession, and a subsequent bear market, approaches. The chart below shows the percentage of yield curves that invert out of 10-possible combinations. At the moment, given there are no inversions, there is no immediate risk of a recession or “bear market. “ Historically speaking, from the time yield curves begin to invert, the span to the next recession runs roughly 9-months. However, note that yield curves are currently declining, suggesting economic growth will weaken. If this trend continues, another “inversion” would not be a surprise. Given the strong track record of predicting recessions historically, when the subsequent inversion occurs, the media will quickly dismiss it just as they did in 2019. Such would not be a wise thing to do. 2. Fed Taper (Coming) The issue of “tapering” is not as much about the Fed’s actual reduction of bond purchases as it is about psychology. “The key to navigating Quantitative Easing and Fed policy in general is to recognize that their effect on the stock market relies almost entirely on speculative investor psychology. As long as investors get inclined to speculate, they treat zero-interest money as an inferior asset, and they will chase any asset with a yield above zero (or a past record of positive returns). Valuation doesn’t matter because investors psychologically rule out the possibility of price declines in the first place.” – John Hussman In other words, “QE” is a mental formation. Therefore, the only thing that alters the effectiveness of the Fed’s monetary policy is investor psychology itself. As shown, there is a very high correlation between the expansion of the Fed’s balance sheet and asset price increases. Whether the correlation is due to liquidity moving into assets through leverage or just the “psychology” of the “Fed Put,” the result is the same. Therefore, it should also not be surprising that when the Fed starts “tapering” their bond purchases, the market tends to witness increased volatility. The grey shaded bars in the chart below show when the balance sheet is either flat or contracting. Notably, the period from the initial tapering of assets and a market correction is almost immediate. So far, the Fed is only TALKING about taper. November, however, could be a different story. 3. Fed Rate Hikes (Not Yet) The risk of a market correction rises further when the Fed is tapering its balance sheet and increasing the overnight lending rate. Currently, there is no expectation for rate hikes until late 2022. What we now know, after more than a decade of experience, is that when the Fed starts to slow or drain its monetary liquidity, the clock starts ticking to the next corrective cycle. Once the Fed begins to hike interest rates, market corrections occur quickly, generally within 2-4 quarters. However, recessions and bear markets typically take longer and have been extended due to ongoing interventions. Recent history has moved the median time frame between the first rate hike and the onset of a recession to somewhere between 24 and 36 months. Investors have several primary indicators to follow to navigate market risk and potential bear markets. While there is currently no indication of a recession or bear market, the Fed starting to “taper” its asset purchases will increase volatility. Once the Fed begins to hike rates or yield curves start to invert, the time to become much more defensive will become evident. However, such could all change quickly with the introduction of an exogenous event. In the meantime, remain invested but don’t be lulled into complacency. Changes in markets always happen slowly, then all at once. Tyler Durden Sun, 09/26/2021 - 10:00.....»»

Category: blogSource: zerohedge15 hr. 10 min. ago

Three Themes Coalescing – Crescat Capital

Crescat Capital’s commentary for the month of September 2021, discussing the three themes coalescing. Q2 2021 hedge fund letters, conferences and more Dear Investors: Three Themes Coalescing With unsustainable imbalances in the global economy and financial markets today, we see unprecedented opportunities to grow and protect capital in both the near and long term. Crescat […] Crescat Capital’s commentary for the month of September 2021, discussing the three themes coalescing. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2021 hedge fund letters, conferences and more Dear Investors: Three Themes Coalescing With unsustainable imbalances in the global economy and financial markets today, we see unprecedented opportunities to grow and protect capital in both the near and long term. Crescat is focused on investment strategies that offer uncommon value and appreciation potential. We believe that all of Crescat’s strategies offer an incredible entry point today based on the firm’s three core macro themes: China credit collapse Record overvalued US equity market top Flight to safety into deeply undervalued gold, silver, and precious metals miners We have researched and written extensively about these themes over the last several years in our investor letters. In our strong view, these are the three biggest macro imbalances and investing opportunities in the world today. The three themes are coalescing at this very moment before the world’s eyes in a likely financial market collision and Great Rotation. We believe our portfolios will be the beneficiary. Our positioning is contrary to many common investment portfolios in the world today. We think too many are over-weighted in extremely overvalued US growth stocks and FAAMG. Most are unprepared for a China monetary collapse or a US stock market downturn. We think too few are positioned for the inevitable stagflation that our models suggest is ahead. As value investors, we are comfortable accepting a reasonable amount of risk to realize the strong returns that are possible from our macro themes and valuation models. Our investment principles and models give us the confidence that the intrinsic value of our portfolios is significantly greater than the current market price at any given time. The combination of already substantial rising inflation in the US along with a China credit collapse, just as the Fed is attempting to taper, is the catalyst for all three of our themes to begin unfolding now. We are headed for a major shake-up in the world’s financial markets at a time of both historic global debt-to-GDP imbalances and record central bank money printing. A Value Approach Our stance is bold. It is highly analytical, valuation-based, and macro driven. As such we are willing to withstand a moderate amount of volatility as markets undergo a re-pricing to realize the ultimate capital appreciation that is attainable from our views. The confidence in our value-based investment process is what gives us the conviction to withstand higher volatility than the average fund manager. Our investment process uses equity and macro models to ensure that the intrinsic value of our portfolios, through discounted cash flow and relative-value methodologies, is always substantially greater than where the market is pricing them today. It is important that Crescat clients embrace a similar value-oriented and long-term mindset to have the confidence that short-term setbacks in Crescat’s strategies are not a permanent loss of capital. The market price of Crescat’s activist long precious metals holdings has fallen in August and September month to date, affecting the long side of all the firm’s strategies. We think this is a mere short-term pullback that presents an incredible buying opportunity. We have the utmost confidence that these positions can deliver extraordinary long-term gains over the next three to five years based on our valuation approach. We have an extensive model to value these holdings based on conservative assumptions. We believe our portfolio of 90+ activist precious metals companies is worth 11 times where the market is valuing them today. That is at the current gold price. They are worth even more than that in a significantly rising new gold and silver bull market that our macro models are forecasting. Pullbacks are a necessary part of the path to delivering substantial long-term returns that more than compensate for the risk. It is the macro imbalances that allow us to enter long positions cheaply and short positions dearly to ultimately deliver outsized appreciation. As value investors, we believe short-term setbacks in Crescat’s strategies offer great opportunities for both new and existing investors to deploy capital. We are firmly positioned in a diversified deep-value portfolio of the most viable new gold and silver deposits on the planet. We own these companies early in what is likely to be a long-term industry cycle for precious metals mining after a decade long bear market. Our companies hold over 300 million target gold equivalent ounces. While the world has largely shunned gold mining stocks since their last major bull market that ended in 2011, in the past year and a half, we have been busy doing private placements to fund the world’s most viable new exploration projects, thereby acquiring gold and silver for literally pennies on the dollar ahead of what we believe will be a new M&A cycle for the mining industry. We very strongly believe that the recent selloff in precious metals, due to Fed taper concerns, is way overdone and that our strategies are poised for a major turn back up in the near term. Our gold and silver holdings have improved over the last two days, and hopefully, it is the turn already. Buy the Dip in Precious Metals The pullback in Crescat’s performance over the past two months, including September month to date, has been almost entirely attributable to our long precious metals positions across all strategies. It is important to understand that these positions were also big winners for us in the prior year through July 2021. The Crescat Precious Metals Fund, our newest fund that is solely focused on this theme, delivered a 235% net return through July in a moderately down gold and silver market. That was the first 12-month period of this fund. Imagine what we should be able to do in a bull market for precious metals. Our precious metals stocks are ultra-deep value positions with incredible appreciation potential still ahead thanks to the expertise of Quinton Hennigh, PhD, Crescat’s Geologic and Technical Director, and his 30+ years of experience in the gold mining exploration industry. The last two months’ sell-off in gold and silver should mark the recent bottom or very close to it. March 2020 was what we believe was the primary bottom of what was a 10-year bear market for junior gold mining stocks. The majors have left exploration to the juniors, so these are the companies that control the world’s next big high-grade gold deposits after a decade of underinvestment in exploration and development. The fact that gold along with our mining portfolios have been catching a safe-haven bid in the market in the last two days as the China Evergrande collapse has caught the world’s attention is phenomenal! This is exactly how a safe-haven currency and the best new gold and silver deposits on the planet should act as a renewed, sober financial order of the world that should emerge as China and the US stock market go into a structural downturn if not outright meltdown. China’s "Mises Moment" The massive US$300 billion China Evergrande collapse feeds into the much bigger $52 trillion Chinese banking system. The latter in our analysis is a phony financial accounting that we can only liken to the largest Ponzi scheme in financial world history. Wall Street came out in force today trying to calm its clients by saying that Evergrande is not China’s Lehman moment. We agree, it is not. It is much bigger than that. The scale of China’s credit bubble is unimaginable. It is 4.5 times the banking bubble in the US ahead of the Global Financial Crisis in absolute as well as relative to GDP terms! US banks were only a US$11 trillion asset bubble at the time when the US GDP was at about the same level as China today. It is not even a Minsky moment. We think China is about to face what we would call a “Mises moment”. China’s unsustainable world-record credit expansion has simply gone on far too long already to where they have only one alternative to reconcile it. All paths lead to a massive currency devaluation. Ludwig von Mises, one of the venerated founders of the Austrian economics school, describes it like this: “There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.” We think most of the financial world is not prepared at all for a China currency collapse. In our global macro fund, we are positioned for a substantial China yuan devaluation and possible de-pegging of the Hong Kong dollar. The latter is an extremely cheap put option. The yuan collapse is inevitable in our view. We have been writing about it for years and believe it is highly prudent to be positioned now. We hold an asymmetric trade with capped downside and large uncapped upside where we are long the dollar and short China’s two primary currencies, the yuan and Hong Kong dollar, through USDCNH and USDHKD call options with tier-1 US bank counterparties. US Stock Market Top In our analysis, China’s financial woes will absolutely be contagious with the US and the world. It is already happening. There is a strong chance that the US equity market has already topped out as of Sep 2 on both the S&P 500 large cap index and the Wilshire 5000 total market index. This has been arguably the most speculative US stock market in history with the highest valuation multiples to underlying fundamentals. In our strong view, there is much downside ahead for broad US stocks. We are determined to capitalize on the equity downturn with overvalued US short positions based on our equity models in our global macro and long/short funds. US stock and credit market’s historic valuations are compliments of rampant speculation underwritten by the Federal Reserve. These asset bubbles are ripe for bursting. The catalyst is the dual combination of rising inflation in the US and a credit crisis in China. We think most investment managers, including hedge funds, are afraid to short stocks and will be caught wrongfooted. Our macro and equity models give us the conviction to be short today. Our firm has an excellent track record of protecting capital during market downturns via our short positions. See our performance reports which show Crescat’s negative and low “downside capture ratio” versus the market in our global macro and long/short hedge funds respectively compared to the S&P 500 and other hedge funds over the long history of these two strategies. Crescat Global Macro’s negative downside capture ratio since inception means that on average it has made money historically when both the market and the hedge fund benchmark has been down. In fact, both funds were up substantially in March 2020, the month of the Covid crash. Gold Wins Whether Safe-Haven Flight or Inflation Hedge On China’s woes, gold should be getting the monetary metal safe-haven bid even though ultimately it is the inflation protection buying on the back of a fiat currency war that makes gold the most attractive to us. When the Fed acts with new measures to counter the strong dollar vs. yuan that would otherwise crimp the US economy, that is when precious metals should go ballistic. We need to be positioned for all of that now, and we are. The Fed is expected to announce the taper tomorrow. A fully committed taper announcement would likely only further catalyze China’s credit collapse and the US equity downturn in our opinion. That is a possibility, but we think a soft taper announcement with a lot of hedging language given China and the potential contagion effects is a more likely event. It still should not stop the US equity market downturn, and it will do nothing to help China. If it is a hard taper, it is just game-on even more so for our equity short positions and China yuan puts. Regarding precious metals, the odds are that gold has already fully priced in the taper based on its pullback over the last two months. If the Fed gives us the “soft taper”, it should allow gold to catch a huge bid and be off to the races. Current Inflation Spike Already Rivals Stagflationary 1973 and 1980 The US Consumer Price Index has risen from 0.3% annualized to 5.3% over just the last 15 months. The last two times we saw this big of a rise over this short of a time were in 1973 and 1980, the two most notorious episodes of stagflation and rising gold prices in US history. Just like in the 1970s, policy makers are trying to tell us not to worry because inflation is “transitory”. But just as then, there is a host of “non-transitory” drivers that include an incipient wage-price spiral, the lag-effect of rents to already substantially higher housing prices, global supply chain shocks from Western trade disintegration with China, and highly probable ongoing deficit spending and debt monetization in the US as far as the eye can see. The big difference between today and the 1970s stagflation is that the Fed has not done anything to fight rising inflationary pressures but instead has done everything to aid and abet them. For instance, from 1972 to 1973, the Fed had already raised its funds rate from 3.5% to 10.8%. And, from 1976 to 1980, it raised the rate from 4.7% to 17.6%. In contrast today, the Fed has kept the funds rate at 0% for the last 16 months and engaged in $4.3 trillion of quantitative easing over the last 18 months monetizing 88% of $4.9 trillion in new debt taken on by the US Treasury over the same time. Fed officials must be looking at this data and internally freaking out. That is why they are probably seriously considering tapering. Stagflation When monetary policy becomes truly extreme, like it was when the US abandoned the gold standard, for instance, we can get both inflation and a stock market crash at the same time. 1973-74 was the prime example. Gold stocks went up 5x in just two years while the S&P 500 was down 50%. At the same time, the popular but overvalued Nifty Fifty large cap growth stocks went down substantially more. Only those alive during the 1970s with money invested in the stock market truly know how shocking and substantial such a crisis can be. It could have been devasting or glorious depending on how one was invested. Gold Launches as Tech Busts Even in less extreme monetary policy situations, gold stocks can go up while widely-held overvalued equities collapse. Late 2000 through 2002 was a perfect example. Then large cap growth and tech stocks were being decimated at the same time as gold stocks began what would ultimately become a ten-year bull market albeit with a significant selloff in late 2008. These two examples are the types of markets for both gold and broad US stocks that we envision over the next two years. Gold Stocks In The Great Depression The Great Depression is yet another example of how gold and gold stocks can perform versus stocks at large in the most serious of financial times. Homestake Mining was the largest precious metals miner of the time. Fed Policy Error Fed watchers are rightly concerned about a forthcoming policy error, but the truth is that the accumulation of global economic and market imbalances and inflationary pressures after many years of taking the path of least resistance with quantitative easing and low interest rate policy has already been the gigantic policy mistake. These misjudgments are not isolated to domestic affairs but have aided and abetted massive credit bubbles in other countries too, particularly China. We believe it is only a matter of time before investors begin stampeding out of S&P 500 index funds and FAAMG stocks and into tangible assets. We think this is the time to get ahead of the curve. As Warren Buffett’s mentor, the legendary Ben Graham, said: “In the short run, the market is a voting machine that requires only money, not intelligence or emotional stability, but in the long run it’s a weighing machine.” We think a little bit of intelligence and a lot of emotional stability could go a long way right now in selling hyper-overvalued stocks at large and buying deeply undervalued gold stocks. We strongly believe the opportunity to put money to work on the recent pullback in Crescat’s strategies is phenomenal today. Performance Download PDF Version Sincerely, Kevin C. Smith, CFA Member & Chief Investment Officer Tavi Costa Member & Portfolio Manager For more information including how to invest, please contact: Marek Iwahashi Client Service Associate miwahashi@crescat.net 303-271-9997 Cassie Fischer Client Service Associate cfischer@crescat.net (303) 350-4000 Linda Carleu Smith, CPA Member & COO lsmith@crescat.net (303) 228-7371 © 2021 Crescat Capital LLC Updated on Sep 22, 2021, 11:28 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkSep 23rd, 2021

Rebound Fails as Investors Await Fed Statement

Rebound Fails as Investors Await Fed Statement Stocks made a valiant effort to recover some of yesterday’s sharp losses, but the market could only manage a mixed session on Tuesday as investors wait to hear what the Fed has to say. The Dow soared more than 300 points at it best today, but the index ultimately slipped 0.15% (or about 50 points) to 33,919.84. The S&P took the same rollercoaster ride and finished lower by 0.08% to 4354.19. The NASDAQ found a way to gain 0.22% (or about 32 points) to 14,746.40. Stocks are returning from one of their worst sessions of the year, as each of the indices plunged 1.7% or more on Monday (the NASDAQ was down by as much as 2.2%). Investors are just a bundle of nerves right now with potential problems here at home and overseas. Not only do we have to worry about China’s largest property developer, Evergrande, potentially defaulting later this week; but we also have to keep our eyes on Washington to see if they can stave off a government shutdown by raising the debt ceiling. Of course, the biggest and most immediate concern of investors is the Fed meeting, which began today and will conclude tomorrow with a statement and remarks from Chair Jerome Powell in the afternoon. The market wants to know when the Fed will begin scaling back on the monthly asset purchases. Investors have come to terms with such tapering, but are wondering if the delta variant has delayed the beginning of the process. There shouldn’t be anything new on rates, but you can bet that everyone will be paying close attention to any hints in the dot plot. Needless to say, this announcement has the potential to be a market mover and explains why stocks couldn’t hold onto early gains today with such a big question mark looming over tomorrow. Today's Portfolio Highlights: Surprise Trader: We're in between earnings seasons at the moment, but Dave is still making moves when he can. On Tuesday, the editor added membership warehouse giant Costco (COST), which is a Zacks Rank #2 (Buy) that has beaten the Zacks Consensus Estimate in three of the past four quarters. It surprised by a little over 20% last time and has a positive Earnings ESP heading into the next report after the bell on Thursday. Dave added COST with a 12.5% allocation, while also selling half of BJs Wholesale (BJ) for 10.6% in a little over a month and all of Restoration Hardware (RH) after mostly sideways action. Read the full write-up for more.   Stocks Under $10: Sometimes a disciplined investor needs to make tough decisions. For example, Brian still likes GT Biopharma (GTBP) and Freightcar America (RAIL), but he dumped both names on Tuesday because they are “beyond the point of no return”. The editor quickly filled these two spots by adding AXT Inc. (AXTI) and VirTra (VTSI), which are both Zacks Rank #2s (Buys) that have beaten the Zacks Consensus Estimate over the past four quarters. Brian also likes their improving margins. AXTI is a chip stock with a very attractive valuation, especially considering the topline growth of 52% in its most recent quarter. VTSI is a “virtual training” company that helps the military and law enforcement. It enjoyed topline growth of 89% in its most recent quarter. Read the full write-up for a lot more on all of today’s action. TAZR Trader: A test of yesterday's lows, and then some, is coming quicker than Kevin expected. Therefore, the editor played a little defense on Tuesday by getting back into ProShares UltraPro Short QQQ ETF (SQQQ). Read the full write-up for more. Zacks Short Sell List: The service made only one change in this week's adjustment. It short-covered GoodRx Holdings (GDRX) and replaced it with the addition of The Clorox Co. (CLX). Learn more about this emotion-free portfolio that takes advantage of falling and volatile markets by reading the Short Sell List Trader Guide. Headline Trader: "Market participants have been blindly buying every dip over the past 18-month with exceeding bullish sentiment keeping the S&P 500 above the 75% annualized return trendline. Since last March, this overzealous strategy has worked with bullish zeal driving up every sector. "However, the past two weeks of accelerating declines on price-confirming volumes seem to have broken this market's overoptimistic bias. The S&P 500's 50-day moving average declined in today's session for the first time since last fall, illustrating a shift in momentum from the bulls to the bears. "As I have said many times, I remain a market bull but am aiming to take advantage of this maturing cycles volatility in this seasonally weak trading month." -- Dan Laboe, who had the best performer among all ZU names today as undervalued Uber Technologies (UBER) jumped 11.5% after an encouraging third-quarter outlook. All the Best, Jim Giaquinto Recommendations from Zacks' Private Portfolios: Believe it or not, this article is not available on the Zacks.com website. The commentary is a partial overview of the daily activity from Zacks' private recommendation services. If you would like to follow our Buy and Sell signals in real time, we've made a special arrangement for readers of this website. Starting today you can see all the recommendations from all of Zacks' portfolios absolutely free for 7 days. Our services cover everything from value stocks and momentum trades to insider buying and positive earnings surprises (which we've predicted with an astonishing 80%+ accuracy). Click here to "test drive" Zacks Ultimate for FREE >>  Zacks Investment Research.....»»

Category: topSource: zacksSep 22nd, 2021

Futures Bounce On Evergrande Reprieve With Fed Looming

Futures Bounce On Evergrande Reprieve With Fed Looming Despite today's looming hawkish FOMC meeting in which Powell is widely expected to unveil that tapering is set to begin as soon as November and where the Fed's dot plot may signal one rate hike in 2022, futures climbed as investor concerns over China's Evergrande eased after the property developer negotiated a domestic bond payment deal. Commodities rallied while the dollar was steady. Contracts on the S&P 500 and Nasdaq 100 flipped from losses to gains as China’s central bank boosted liquidity when it injected a gross 120BN in yuan, the most since January... ... and investors mulled a vaguely-worded statement from the troubled developer about an interest payment.  S&P 500 E-minis were up 23.0 points, or 0.53%, at 7:30 a.m. ET. Dow E-minis were up 199 points, or 0.60%, and Nasdaq 100 E-minis were up 44.00 points, or 0.29%. Among individual stocks, Fedex fell 5.8% after the delivery company cut its profit outlook on higher costs and stalled growth in shipments. Morgan Stanley says it sees the company’s 1Q issues getting “tougher from here.” Commodity-linked oil and metal stocks led gains in premarket trade, while a slight rise in Treasury yields supported major banks. However, most sectors were nursing steep losses in recent sessions. Here are some of the biggest U.S. movers: Adobe (ADBE US) down 3.1% after 3Q update disappointed the high expectations of investors, though the broader picture still looks solid, Morgan Stanley said in a note Freeport McMoRan (FCX US), Cleveland- Cliffs (CLF US), Alcoa (AA US) and U.S. Steel (X US) up 2%-3% premarket, following the path of global peers as iron ore prices in China rallied Aethlon Medical (AEMD US) and Exela Technologies (XELAU US) advance along with other retail traders’ favorites in the U.S. premarket session. Aethlon jumps 21%; Exela up 8.3% Other so-called meme stocks also rise: ContextLogic +1%; Clover Health +0.9%; Naked Brand +0.9%; AMC +0.5% ReWalk Robotics slumps 18% in U.S. premarket trading, a day after nearly doubling in value Stitch Fix (SFIX US) rises 15.7% in light volume after the personal styling company’s 4Q profit and sales blew past analysts’ expectations Hyatt Hotels (H US) seen opening lower after the company launches a seven-million-share stock offering Summit Therapeutics (SMMT US) shares fell as much as 17% in Tuesday extended trading after it said the FDA doesn’t agree with the change to the primary endpoint that has been implemented in the ongoing Phase III Ri-CoDIFy studies when combining the studies Marin Software (MRIN US) surged more than 75% Tuesday postmarket after signing a new revenue-sharing agreement with Google to develop its enterprise technology platforms and software products The S&P 500 had fallen for 10 of the past 12 sessions since hitting a record high, as fears of an Evergrande default exacerbated seasonally weak trends and saw investors pull out of stocks trading at lofty valuations. The Nasdaq fell the least among its peers in recent sessions, as investors pivoted back into big technology names that had proven resilient through the pandemic. Focus now turns to the Fed's decision, due at 2 p.m. ET where officials are expected to signal a start to scaling down monthly bond purchases (see our preview here).  The Fed meeting comes after a period of market volatility stoked by Evergrande’s woes. China’s wider property-sector curbs are also feeding into concerns about a slowdown in the economic recovery from the pandemic. “Chair Jerome Powell could hint at the tapering approaching shortly,” said Sébastien Barbé, a strategist at Credit Agricole CIB. “However, given the current uncertainty factors (China property market, Covid, pace of global slowdown), the Fed should remain cautious when it comes to withdrawing liquidity support.” Meanwhile, confirming what Ray Dalio said that the taper will just bring more QE, Governing Council member Madis Muller said the  European Central Bank may boost its regular asset purchases once the pandemic-era emergency stimulus comes to an end. “Dovish signals could unwind some of the greenback’s gains while offering relief to stock markets,” Han Tan, chief market analyst at Exinity Group, wrote in emailed comments. A “hawkish shift would jolt markets, potentially pushing Treasury yields and the dollar past the upper bound of recent ranges, while gold and equities would sell off hunting down the next levels of support.” China avoided a major selloff as trading resumed following a holiday, after the country’s central bank boosted its injection of short-term cash into the financial system. MSCI’s Asia-Pacific index declined for a third day, dragged lower by Japan. Stocks were also higher in Europe. Basic resources - which bounced from a seven month low - and energy were among the leading gainers in the Stoxx Europe 600 index as commodity prices steadied after Beijing moved to contain fears of a spiraling debt crisis. Entain Plc rose more than 7%, extending Tuesday’s gain as it confirmed it received a takeover proposal from DraftKings Inc. Peer Flutter Entertainment Plc climbed after settling a legal dispute.  Here are some of the biggest European movers today: Entain shares jump as much as 11% after DraftKings Inc. offered to acquire the U.K. gambling company for about $22.4 billion. Vivendi rises as much as 3.1% in Paris, after Tuesday’s spinoff of Universal Music Group. Legrand climbs as much as 2.1% after Exane BNP Paribas upgrades to outperform and raises PT to a Street-high of EU135. Orpea shares falls as much as 2.9%, after delivering 1H results that Jefferies (buy) says were a “touch” below consensus. Bechtle slides as much as 5.1% after Metzler downgrades to hold from buy, saying persistent supply chain problems seem to be weighing on growth. Sopra Steria drops as much as 4.1% after Stifel initiates coverage with a sell, citing caution on company’s M&A strategy Despite the Evergrande announcement, Asian stocks headed for their longest losing streak in more than a month amid continued China-related concerns, with traders also eying policy decisions from major central banks. The MSCI Asia Pacific Index dropped as much as 0.7% in its third day of declines, with TSMC and Keyence the biggest drags. China’s CSI 300 tumbled as much as 1.9% as the local market reopened following a two-day holiday. However, the gauge came off lows after an Evergrande unit said it will make a bond interest payment and as China’s central bank boosted liquidity.  Taiwan’s equity benchmark led losses in Asia on Wednesday, dragged by TSMC after a two-day holiday, while markets in Hong Kong and South Korea were closed. Key stock gauges in Australia, Indonesia and Vietnam rose “A liquidity injection from the People’s Bank of China accompanied the Evergrande announcement, which only served to bolster sentiment further,” according to DailyFX’s Thomas Westwater and Daniel Dubrovsky. “For now, it appears that market-wide contagion risk linked to a potential Evergrande collapse is off the table.” Japanese equities fell for a second day amid global concern over China’s real-estate sector, as the Bank of Japan held its key stimulus tools in place while flagging pressures on the economy. Electronics makers were the biggest drag on the Topix, which declined 1%. Daikin and Fanuc were the largest contributors to a 0.7% loss in the Nikkei 225. The BOJ had been expected to maintain its policy levers ahead of next week’s key ruling party election. Traders are keenly awaiting the Federal Reserve’s decision due later for clues on the U.S. central banks plan for tapering stimulus. “Markets for some time have been convinced that the BOJ has reached the end of the line on normalization and will remain in a holding pattern on policy until at least April 2023 when Governor Kuroda is scheduled to leave,” UOB economist Alvin Liew wrote in a note. “Attention for the BOJ will now likely shift to dealing with the long-term climate change issues.” In the despotic lockdown regime that is Australia, the S&P/ASX 200 index rose 0.3% to close at 7,296.90, reversing an early decline in a rally led by mining and energy stocks. Banks closed lower for the fourth day in a row. Champion Iron was among the top performers after it was upgraded at Citi. IAG was among the worst performers after an earthquake caused damage to buildings in Melbourne. In New Zealand, the S&P/NZX 50 index rose 0.3% to 13,215.80 In FX, commodity currencies rallied as concerns about China Evergrande Group’s debt troubles eased as China’s central bank boosted liquidity and investors reviewed a statement from the troubled developer about an interest payment. Overnight implied volatility on the pound climbed to the highest since March ahead of Bank of England’s meeting on Thursday. The British pound weakened after Business Secretary Kwasi Kwarteng warnedthat people should prepare for longer-term high energy prices amid a natural-gas shortage that sent power costs soaring. Several U.K. power firms have stopped taking in new clients as small energy suppliers struggle to meet their previous commitments to sell supplies at lower prices. Overnight volatility in the euro rises above 10% for the first time since July ahead of the Federal Reserve’s monetary policy decision announcement. The Aussie jumped as much as 0.5% as iron-ore prices rebounded. Spot surged through option-related selling at 0.7240 before topping out near 0.7265 strikes expiring Wednesday, according to Asia- based FX traders.  Elsewhere, the yen weakened and commodity-linked currencies such as the Australian dollar pushed higher. In rates, the dollar weakened against most of its Group-of-10 peers. Treasury futures were under modest pressure in early U.S. trading, leaving yields cheaper by ~1.5bp from belly to long-end of the curve. The 10-year yield was at ~1.336% steepening the 2s10s curve by ~1bp as the front-end was little changed. Improved risk appetite weighed; with stock futures have recovering much of Tuesday’s losses as Evergrande concerns subside. Focal point for Wednesday’s session is FOMC rate decision at 2pm ET.   FOMC is expected to suggest it will start scaling back asset purchases later this year, while its quarterly summary of economic projections reveals policy makers’ expectations for the fed funds target in coming years in the dot-plot update; eurodollar positions have emerged recently that anticipate a hawkish shift Bitcoin dropped briefly below $40,000 for the first time since August amid rising criticism from regulators, before rallying as the mood in global markets improved. In commodities, Iron ore halted its collapse and metals steadied. Oil advanced for a second day. Bitcoin slid below $40,000 for the first time since early August before rebounding back above $42,000.   To the day ahead now, and the main highlight will be the aforementioned Federal Reserve decision and Chair Powell’s subsequent press conference. Otherwise on the data side, we’ll get US existing home sales for August, and the European Commission’s advance consumer confidence reading for the Euro Area in September. Market Snapshot S&P 500 futures up 0.4% to 4,362.25 STOXX Europe 600 up 0.5% to 461.19 MXAP down 0.7% to 199.29 MXAPJ down 0.4% to 638.39 Nikkei down 0.7% to 29,639.40 Topix down 1.0% to 2,043.55 Hang Seng Index up 0.5% to 24,221.54 Shanghai Composite up 0.4% to 3,628.49 Sensex little changed at 59,046.84 Australia S&P/ASX 200 up 0.3% to 7,296.94 Kospi up 0.3% to 3,140.51 Brent Futures up 1.5% to $75.47/bbl Gold spot up 0.0% to $1,775.15 U.S. Dollar Index little changed at 93.26 German 10Y yield rose 0.6 bps to -0.319% Euro little changed at $1.1725 Top Overnight News from Bloomberg What would it take to knock the U.S. recovery off course and send Federal Reserve policy makers back to the drawing board? Not much — and there are plenty of candidates to deliver the blow The European Central Bank will discuss boosting its regular asset purchases once the pandemic-era emergency stimulus comes to an end, but any such increase is uncertain, Governing Council member Madis Muller said Investors seeking hints about how Beijing plans to deal with China Evergrande Group’s debt crisis are training their cross hairs on the central bank’s liquidity management A quick look at global markets courtesy of Newsquawk Asian equity markets traded mixed as caution lingered ahead of upcoming risk events including the FOMC, with participants also digesting the latest Evergrande developments and China’s return to the market from the Mid-Autumn Festival. ASX 200 (+0.3%) was positive with the index led higher by the energy sector after a rebound in oil prices and as tech also outperformed, but with gains capped by weakness in the largest-weighted financials sector including Westpac which was forced to scrap the sale of its Pacific businesses after failing to secure regulatory approval. Nikkei 225 (-0.7%) was subdued amid the lack of fireworks from the BoJ announcement to keep policy settings unchanged and ahead of the upcoming holiday closure with the index only briefly supported by favourable currency outflows. Shanghai Comp. (+0.4%) was initially pressured on return from the long-weekend and with Hong Kong markets closed, but pared losses with risk appetite supported by news that Evergrande’s main unit Hengda Real Estate will make coupon payments due tomorrow, although other sources noted this is referring to the onshore bond payments valued around USD 36mln and that there was no mention of the offshore bond payments valued at USD 83.5mln which are also due tomorrow. Meanwhile, the PBoC facilitated liquidity through a CNY 120bln injection and provided no surprises in keeping its 1-year and 5-year Loan Prime Rates unchanged for the 17th consecutive month at 3.85% and 4.65%, respectively. Finally, 10yr JGBs were flat amid the absence of any major surprises from the BoJ policy announcement and following the choppy trade in T-notes which were briefly pressured in a knee-jerk reaction to the news that Evergrande’s unit will satisfy its coupon obligations tomorrow, but then faded most of the losses as cautiousness prevailed. Top Asian News Gold Steady as Traders Await Outcome of Fed Policy Meeting Evergrande Filing on Yuan Bond Interest Leaves Analysts Guessing Singapore Category E COE Price Rises to Highest Since April 2014 Asian Stocks Fall for Third Day as Focus Turns to Central Banks European equities (Stoxx 600 +0.5%) trade on a firmer footing in the wake of an encouraging APAC handover. Focus overnight was on the return of Chinese participants from the Mid-Autumn Festival and news that Evergrande’s main unit, Hengda Real Estate will make coupon payments due tomorrow; however, we await indication as to whether they will meet Thursday’s offshore payment deadline as well. Furthermore, the PBoC facilitated liquidity through a CNY 120bln injection whilst keeping its 1-year and 5-year Loan Prime Rates unchanged (as expected). Note, despite gaining yesterday and today, thus far, the Stoxx 600 is still lower to the tune of 0.7% on the week. Stateside, futures are also trading on a firmer footing ahead of today’s FOMC policy announcement, at which, market participants will be eyeing any clues for when the taper will begin and digesting the latest dot plot forecasts. Furthermore, the US House voted to pass the bill to fund the government through to December 3rd and suspend the debt limit to end-2022, although this will likely be blocked by Senate Republicans. Back to Europe, sectors are mostly firmer with outperformance in Basic Resources and Oil & Gas amid upside in the metals and energy complex. Elsewhere, Travel & Leisure is faring well amid further upside in Entain (+6.1%) with the Co. noting it rejected an earlier approach from DraftKings at GBP 25/shr with the new offer standing at GBP 28/shr. Additionally for the sector, Flutter Entertainment (+4.1%) are trading higher after settling the legal dispute between the Co. and Commonwealth of Kentucky. Elsewhere, in terms of deal flow, Iliad announced that it is to acquire UPC Poland for around USD 1.8bln. Top European News Energy Cost Spike Gets on EU Ministers’ Green Deal Agenda Travel Startup HomeToGo Gains in Frankfurt Debut After SPAC Deal London Stock Exchange to Shut Down CurveGlobal Exchange EU Banks Expected to Add Capital for Climate Risk, EBA Says In FX, trade remains volatile as this week’s deluge of global Central Bank policy meetings continues to unfold amidst fluctuations in broad risk sentiment from relatively pronounced aversion at various stages to a measured and cautious pick-up in appetite more recently. Hence, the tide is currently turning in favour of activity, cyclical and commodity currencies, albeit tentatively in the run up to the Fed, with the Kiwi and Aussie trying to regroup on the 0.7000 handle and 0.7350 axis against their US counterpart, and the latter also striving to shrug off negative domestic impulses like a further decline below zero in Westpac’s leading index and an earthquake near Melbourne. Next up for Nzd/Usd and Aud/Usd, beyond the FOMC, trade data and preliminary PMIs respectively. DXY/CHF/EUR/CAD - Notwithstanding the overall improvement in market tone noted above, or another major change in mood and direction, the Dollar index appears to have found a base just ahead of 93.000 and ceiling a similar distance away from 93.500, as it meanders inside those extremes awaiting US existing home sales that are scheduled for release before the main Fed events (policy statement, SEP and post-meeting press conference from chair Powell). Indeed, the Franc, Euro and Loonie have all recoiled into tighter bands vs the Greenback, between 0.9250-26, 1.1739-17 and 1.2831-1.2770, but with the former still retaining an underlying bid more evident in the Eur/Chf cross that is consolidating under 1.0850 and will undoubtedly be acknowledged by the SNB tomorrow. Meanwhile, Eur/Usd has hardly reacted to latest ECB commentary from Muller underpinning that the APP is likely to be boosted once the PEPP envelope is closed, though Usd/Cad is eyeing a firm rebound in oil prices in conjunction with hefty option expiry interest at the 1.2750 strike (1.8 bn) that may prevent the headline pair from revisiting w-t-d lows not far beneath the half round number. GBP/JPY - The major laggards, as Sterling slips slightly further beneath 1.3650 against the Buck to a fresh weekly low and Eur/Gbp rebounds from circa 0.8574 to top 0.8600 on FOMC day and T-1 to super BoE Thursday. Elsewhere, the Yen has lost momentum after peaking around 109.12 and still not garnering sufficient impetus to test 109.00 via an unchanged BoJ in terms of all policy settings and guidance, as Governor Kuroda trotted out the no hesitation to loosen the reins if required line for the umpteenth time. However, Usd/Jpy is holding around 109.61 and some distance from 1.1 bn option expiries rolling off between 109.85-110.00 at the NY cut. SCANDI/EM - Brent’s revival to Usd 75.50+/brl from sub-Usd 73.50 only yesterday has given the Nok another fillip pending confirmation of a Norges Bank hike tomorrow, while the Zar has regained some poise with the aid of firmer than forecast SA headline and core CPI alongside a degree of retracement following Wednesday’s breakdown of talks on a pay deal for engineering workers that prompted the union to call a strike from early October. Similarly, the Cnh and Cny by default have regrouped amidst reports that the CCP is finalising details to restructure Evergrande into 3 separate entities under a plan that will see the Chinese Government take control. In commodities, WTI and Brent are firmer this morning though once again fresh newsflow for the complex has been relatively slim and largely consisting of gas-related commentary; as such, the benchmarks are taking their cue from the broader risk tone (see equity section). The improvement in sentiment today has brought WTI and Brent back in proximity to being unchanged on the week so far as a whole; however, the complex will be dictated directly by the EIA weekly inventory first and then indirectly, but perhaps more pertinently, by today’s FOMC. On the weekly inventories, last nights private release was a larger than expected draw for the headline and distillate components, though the Cushing draw was beneath expectations; for today, consensus is a headline draw pf 2.44mln. Moving to metals where the return of China has seen a resurgence for base metals with LME copper posting upside of nearly 3.0%, for instance. Albeit there is no fresh newsflow for the complex as such, so it remains to be seen how lasting this resurgence will be. Finally, spot gold and silver are firmer but with the magnitude once again favouring silver over the yellow metal. US Event Calendar 10am: Aug. Existing Home Sales MoM, est. -1.7%, prior 2.0% 2pm: Sept. FOMC Rate Decision (Lower Boun, est. 0%, prior 0% DB's Jim Reid concludes the overnight wrap All eyes firmly on China this morning as it reopens following a 2-day holiday. As expected the indices there have opened lower but the scale of the declines are being softened by the PBoC increasing its short term cash injections into the economy. They’ve added a net CNY 90bn into the system. On Evergrande, we’ve also seen some positive headlines as the property developers’ main unit Hengda Real Estate Group has said that it will make coupon payment for an onshore bond tomorrow. However, the exchange filing said that the interest payment “has been resolved via negotiations with bondholders off the clearing house”. This is all a bit vague and doesn’t mention the dollar bond at this stage. Meanwhile, Bloomberg has reported that Chinese authorities have begun to lay the groundwork for a potential restructuring that could be one of the country’s biggest, assembling accounting and legal experts to examine the finances of the group. All this follows news from Bloomberg yesterday that Evergrande missed interest payments that had been due on Monday to at least two banks. In terms of markets the CSI (-1.11%), Shanghai Comp (-0.29%) and Shenzhen Comp (-0.53%) are all lower but have pared back deeper losses from the open. We did a flash poll in the CoTD yesterday (link here) and after over 700 responses in a couple of hours we found only 8% who we thought Evergrande would still be impacting financial markets significantly in a month’s time. 24% thought it would be slightly impacting. The other 68% thought limited or no impact. So the world is relatively relaxed about contagion risk for now. The bigger risk might be the knock on impact of weaker Chinese growth. So that’s one to watch even if you’re sanguine on the systemic threat. Craig Nicol in my credit team did a good note yesterday (link here) looking at the contagion risk to the broader HY market. I thought he summed it up nicely as to why we all need to care one way or another in saying that “Evergrande is the largest corporate, in the largest sector, of the second largest economy in the world”. For context AT&T is the largest corporate borrower in the US market and VW the largest in Europe. Turning back to other Asian markets now and the Nikkei (-0.65%) is down but the Hang Seng (+0.51%) and Asx (+0.58%) are up. South Korean markets continue to remain closed for a holiday. Elsewhere, yields on 10y USTs are trading flattish while futures on the S&P 500 are up +0.10% and those on the Stoxx 50 are up +0.21%. Crude oil prices are also up c.+1% this morning. In other news, the Bank of Japan policy announcement overnight was a non-event as the central bank maintained its yield curve target while keeping the policy rate and asset purchases plan unchanged. The central bank also unveiled more details of its green lending program and said that it would immediately start accepting applications and would begin making the loans in December. The relatively calm Asian session follows a stabilisation in markets yesterday following their rout on Monday as investors looked forward to the outcome of the Fed’s meeting later today. That said, it was hardly a resounding performance, with the S&P 500 unable to hold on to its intraday gains and ending just worse than unchanged after the -1.70% decline the previous day as investors remained vigilant as to the array of risks that continue to pile up on the horizon. One of these is in US politics and legislators seem no closer to resolving the various issues surrounding a potential government shutdown at the end of the month, along with a potential debt ceiling crisis in October, which is another flashing alert on the dashboard for investors that’s further contributing to weaker sentiment right now. Looking ahead now, today’s main highlight will be the latest Federal Reserve decision along with Chair Powell’s subsequent press conference, with the policy decision out at 19:00 London time. Markets have been on edge for any clues about when the Fed might begin to taper asset purchases, but concern about tapering actually being announced at this meeting has dissipated over recent weeks, particularly after the most recent nonfarm payrolls in August came in at just +235k, and the monthly CPI print also came in beneath consensus expectations for the first time since November. In terms of what to expect, our US economists write in their preview (link here) that they see the statement adopting Chair Powell’s language that a reduction in the pace of asset purchases is appropriate “this year”, so long as the economy remains on track. They see Powell maintaining optionality about the exact timing of that announcement, but they think that the message will effectively be that the bar to pushing the announcement beyond November is relatively high in the absence of any material downside surprises. This meeting also sees the release of the FOMC’s latest economic projections and the dot plot, where they expect there’ll be an upward drift in the dots that raises the number of rate hikes in 2023 to 3, followed by another 3 increases in 2024. Back to yesterday, and as mentioned US equity markets fell for a second straight day after being unable to hold on to earlier gains, with the S&P 500 slightly lower (-0.08%). High-growth industries outperformed with biotech (+0.38%) and semiconductors (+0.18%) leading the NASDAQ (+0.22%) slightly higher, however the Dow Jones (-0.15%) also struggled. Europe saw a much stronger performance though as much of the US decline came after Europe had closed. The STOXX 600 gained +1.00% to erase most of Monday’s losses, with almost every sector in the index ending the day in positive territory. With risk sentiment improving for much of the day yesterday, US Treasuries sold off slightly and by the close of trade yields on 10yr Treasuries were up +1.2bps to 1.3226%, thanks to a +1.8bps increase in real yields. However, sovereign bonds in Europe told a different story as yields on 10yr bunds (-0.3bps), OATs (-0.3bps) and BTPs (-1.9bps) moved lower. Other safe havens including gold (+0.59%) and silver (+1.02%) also benefited, but this wasn’t reflected across commodities more broadly, with Bloomberg’s Commodity Spot Index (-0.30%) losing ground for a 4th consecutive session. Democratic Party leaders plan to vote on the Senate-approved $500bn bipartisan infrastructure bill next Monday, even with no resolution to the $3.5tr budget reconciliation measure that encompasses the remainder of the Biden Administration’s economic agenda. Democrats continue to work on the reconciliation measure but have turned their attention to the debt ceiling and government funding bills.Congress has fewer than two weeks before the current budget expires – on Oct 1 – to fund the government and raise the debt ceiling. Republicans yesterday noted that the Democrats could raise the ceiling on their own through the reconciliation process, with many saying that they would not be offering their support to any funding bill. Democrats continue to push for a bipartisan bill to raise the debt ceiling, pointing to their votes during the Trump administration. If Democrats are forced to tie the debt ceiling and funding bills to budget reconciliation, it could limit how much of the $3.5 trillion bill survives the last minute negotiations between progressives and moderates. More to come over the next 10 days. Staying on the US, there was an important announcement in President Biden’s speech at the UN General Assembly, as he said that he would work with Congress to double US funding to poorer nations to deal with climate change. That comes as UK Prime Minister Johnson (with the UK hosting the COP26 summit in less than 6 weeks’ time) has been lobbying other world leaders to find the $100bn per year that developed economies pledged by 2020 to support developing countries as they reduce their emissions and deal with climate change. In Germany, there are just 4 days to go now until the federal election, and a Forsa poll out yesterday showed a slight narrowing in the race, with the centre-left SPD remaining on 25%, but the CDU/CSU gained a point on last week to 22%, which puts them within the +/- 2.5 point margin of error. That narrowing has been seen in Politico’s Poll of Polls as well, with the race having tightened from a 5-point SPD lead over the CDU/CSU last week to a 3-point one now. Turning to the pandemic, Johnson & Johnson reported that their booster shot given 8 weeks after the first offered 100% protection against severe disease, 94% protection against symptomatic Covid in the US, and 75% against symptomatic Covid globally. Speaking of boosters, Bloomberg reported that the FDA was expected to decide as soon as today on a recommendation for Pfizer’s booster vaccine. That follows an FDA advisory panel rejecting a booster for all adults last Friday, restricting the recommendation to those over-65 and other high-risk categories. Staying with the US and vaccines, President Biden announced that the US was ordering 500mn doses of the Pfizer vaccine to be exported to the rest of the world. On the data front, there were some strong US housing releases for August, with housing starts up by an annualised 1.615m (vs. 1.55m expected), and building permits up by 1.728m (vs. 1.6m expected). Separately, the OECD released their Interim Economic Outlook, which saw them upgrade their inflation expectations for the G20 this year to +3.7% (up +0.2ppts from May) and for 2022 to +3.9% (up +0.5ppts from May). Their global growth forecast saw little change at +5.7% in 2021 (down a tenth) and +4.5% for 2022 (up a tenth). To the day ahead now, and the main highlight will be the aforementioned Federal Reserve decision and Chair Powell’s subsequent press conference. Otherwise on the data side, we’ll get US existing home sales for August, and the European Commission’s advance consumer confidence reading for the Euro Area in September. Tyler Durden Wed, 09/22/2021 - 08:05.....»»

Category: blogSource: zerohedgeSep 22nd, 2021

NASDAQ Adds Another 1% as Tech Recovery Continues

NASDAQ Adds Another 1% as Tech Recovery Continues SPECIAL ALERT: The September episode of the Zacks Ultimate Strategy Session is now available for viewing! Tune in to this "must-see" event when Kevin Matras, Kevin Cook, Dan Laboe, Ben Rains and Sheraz Mian discuss the investment landscape from several angles. Don't miss your chance to hear: • Ben and Dan Agree to Disagree on market valuation - is it still overvalued after this correction? Or is it harder to compare because of historically high valuations and a different interest rate environment? And does this tech-driven rally play a part? • Kevin Matras answers questions covering what you should do about the recent pullback and what stocks will do ahead of the election in Zacks Mailbag • Sheraz and Dan choose one portfolio to give feedback for improvement • And much more Simply log on to Zacks.com and view the September episode here. And please let us know what you think of this format. Email all feedback to mailbag@zacks.com. Tech continued to slowly recover from its two-week smackdown on Tuesday, while we all wait to hear what the Fed has to say after its most recent meeting. The NASDAQ rose 1.21% (or about 133 points) today to 11,190.32, marking a two-day advance of just about 3% after Monday’s jump of nearly 1.9%. But let’s not get too excited. The index is still more than 7% away from its closing high, which was reached less than two weeks ago! All of the FAANGs were positive on Tuesday with Netflix (NFLX, +4.1%) and Facebook (FB, +2.36%) leading the way. Microsoft (MSFT) joined in with a 1.6% increase. Apple (AAPL), which was the only FAANG that was positive yesterday, actually lagged everyone despite its virtual product launch event. The iPhone maker managed a rise of only 0.16%. The S&P is back above 3400 (for the first time since September 4) after rising 0.52% to 3401.20. The Dow jumped by more than 200 points at its best in the session, but could only hold onto a gain of 0.01% (or about two points) to 27,995.60. All of the indices rose by over 1% yesterday on positive vaccine news and a fresh round of deal making. The next market mover could be the Fed, which will finish its two-day meeting tomorrow with comments from Chair Jerome Powell. You wouldn’t think such a meeting could make much difference these days, since everyone and their mother knows that rates will stay right where they are at historical lows for the foreseeable future. But the Fed has impacted the market twice in recent weeks… and it didn’t have to do anything to rates. We know they’ll be cautious… but HOW cautious? And what will be their tone?   “I expect the Fed to do nothing and keep some familiar language,” said Jeremy Mullin in Counterstrike. “They will likely comment on the economy improving, the virus preventing a full recovery and reiterate that they are watching inflation. Should be no surprises so likely a non-event. A move after the fed over 3420 would be bullish.” We’ll see what happens tomorrow… Today's Portfolio Highlights: Stocks Under $10: The solid homebuilding industry should be a boon for Cornerstone Building Brands (CNR), which makes exterior building products like windows, vinyl siding and insulated metals panels. The company has beaten the Zacks Consensus Estimate in three of the past four quarters with a triple-digit surprise last time. CNR is still expected to lose money this year, but the estimate has narrowed to a loss of 45 cents from a loss of $1.42. But Brian is most excited about next year’s expectations, which have jumped to a profit of 34 cents from a loss of 22 cents in the past 60 days. These improving numbers have made the company a Zacks Rank #2 (Buy). The editor added CNR on Tuesday, while also getting out of A10 Networks (ATEN). Read the full write-up for more on today’s moves. In other news, this portfolio also had the best performer of the day among all ZU names as Digital Turbine (APPS) rose 13.3%. Meanwhile, Tufin Software Technologies (TUFN) also made the Top 5 with an increase of 5.8%. Zacks Short List: It’s almost a brand new portfolio today, as this week’s adjustment included swapping out eight of the ten names. The stocks that were short-covered on Tuesday included: • China Lodging (HTHT, +10%) • The Trade Desk (TTD, +5.4%) • Burlington Stores (BURL, +0.1%) • Ross Stores (ROST) • Las Vegas Sands (LVS) • Five Below (FIVE) • XPO Logistics (XPO) • Performance Food Group (PFGC) The new buys that filled these just-opened positions were: • Netflix (NFLX) • Nike (NKE) • PVH Corp. (PVH) • ServiceNow (NOW) • StoneCo (STNE) • TAL Education Group (TAL) • V.F. Corp. (VFC) • Yandex N.V. (YNDX) Learn more about this emotion-free portfolio that takes advantage of falling and volatile markets by reading the Short List Trader Guide. Have a Good Evening, Jim Giaquinto Recommendations from Zacks' Private Portfolios: Believe it or not, this article is not available on the Zacks.com website. The commentary is a partial overview of the daily activity from Zacks' private recommendation services. If you would like to follow our Buy and Sell signals in real time, we've made a special arrangement for readers of this website. Starting today you can see all the recommendations from all of Zacks' portfolios absolutely free for 7 days. Our services cover everything from value stocks and momentum trades to insider buying and positive earnings surprises (which we've predicted with an astonishing 80%+ accuracy). Click here to "test drive" Zacks Ultimate for FREE >>  Zacks Investment Research.....»»

Category: topSource: zacksSep 21st, 2021

Stocks Slip While Waiting for Stimulus Details

Stocks Slip While Waiting for Stimulus Details Stocks were on their way to reclaiming new highs on Thursday, but a late selloff brought the major indices into the red as we wait for specifics on the Biden administration’s stimulus plan. The Dow slipped 0.22% (or nearly 69 points) to 30,991.52, while the NASDAQ was off 0.12% (or around 16 points) to 13,112.64. Both of these indices momentarily reached intraday highs in the session, but couldn't hold on. The S&P was down 0.38% to 3795.54. As of the market close on Thursday, we hadn’t received details on the new administration’s stimulus plan. However, it’ll likely be somewhere around $2 trillion. And it couldn’t come at a better time, since we received more proof that the rise in coronavirus cases have stunted the economy’s recovery. Case in point, jobless claims soared to 965,000 last week, which was remarkably worse than the previous week’s 787K. The result also left expectations of 800K in the dust. Fortunately, the market didn’t have much of a reaction. With vaccines and relief packages in the air, investors are more interested in the future as we are hopefully reaching the homestretch of this pandemic. Plus, a weak report was widely expected given the increased restrictions. In addition, Fed Chief Jerome Powell did his part to keep investor spirits up. In a virtual Q&A session on Thursday, he stated once again that interest rates will remain at historic lows for the time being as the economy fights back against covid. The first week of 2021 saw solid gains across the board, but we’ve run into some sluggishness lately and the major indices head into Friday with losses for the week. However, we could easily get back into the green for this five-day stretch... which would also mean setting some new all-time highs. Let’s get ready for the start of earnings season and see if we can finish this week on a high note. Today's Portfolio Highlights: Insider Trader: Shares of food company ConAgra (CAG) sold off after its earnings report earlier this month, as the Street seems to think the company is a pandemic play that will be out of luck once life returns to normal. But there’s a director who begs to differ. He bought 10,000 shares the day after the report, which was his first open market purchase since joining the board in 2009. What does he see that the market is missing? Perhaps he believes that the parent company of Duncan Hines, Birds Eye, Banquet and Reddi-Whip is being undervalued and has gained new customers because of the pandemic. Tracey was intrigued by the move and put some money to work by adding CAG on Thursday with a 10% allocation. By the way, the editor also sold PulteGroup (PHM) today for a 3.5% profit as the homebuilder stocks “continue to go nowhere”. Read the full write-up for more on today’s moves. Surprise Trader: For the third time this week, Dave is adding a name from the highly-ranked banks – southeast space. It’s in the top 17% of the Zacks Industry Rank. The new buy is Hancock Whitney (HWC), which beat by more than 32% last quarter and has a positive Earnings ESP of 1.15% for the report coming after the bell on Wednesday, January 20. The company has seen a “sizable jump” in earnings expectations with analysts now forecasting a profit of $3.25 for next year from a covid-fueled loss of 82 cents this year. The editor added HWC on Thursday with a 12.5% allocation. Read the full write-up for more. Counterstrike: "Huge move today of over 20% (in BlackBerry (BB)). Outside that patent news from last night, I have no idea why the stock shot up. While I thought we would go higher, but I assumed it would take a few months to go to $11. Now it looks like we could get that this month!" said Jeremy. BB was the best performer of the day among all ZU names with a jump of nearly 22.5%. The stock has now rocketed to the top of this portfolio with a gain of more than 23% in less than a week! All the Best, Jim Giaquinto Recommendations from Zacks' Private Portfolios: Believe it or not, this article is not available on the Zacks.com website. The commentary is a partial overview of the daily activity from Zacks' private recommendation services. If you would like to follow our Buy and Sell signals in real time, we've made a special arrangement for readers of this website. Starting today you can see all the recommendations from all of Zacks' portfolios absolutely free for 7 days. Our services cover everything from value stocks and momentum trades to insider buying and positive earnings surprises (which we've predicted with an astonishing 80%+ accuracy). Click here to "test drive" Zacks Ultimate for FREE >>  Zacks Investment Research.....»»

Category: topSource: zacksSep 21st, 2021

NASDAQ, S&P Close at New Records on Fourth Day of Gains

NASDAQ, S&P Close at New Records on Fourth Day of Gains The NASDAQ and S&P advanced for a fourth consecutive session on Tuesday despite concerns about the delta variant and potential taper talk at the virtual Jackson Hole event later this week. As a result, those two major indices finished the session with fresh record highs. The NASDAQ already set the milestone on Monday after back-to-back gains of over 1%. The tech-heavy index outperformed its counterparts yet again today with a rise of 0.52% (or about 77 points) to 15,019.80, marking a fourth straight day in the green. The S&P began Tuesday less than 1 point away from its own closing high, which it easily overcame by rising 0.15% to a new record of 4486.23. Meanwhile the Dow moved higher 0.09% (or around 30 points) to 35,366.26.    One of the big events today was the fiscal second quarter report from Best Buy (BBY), one of the last major retailers of this very encouraging earnings season. And the consumer electronics giant didn’t disappoint. Earnings per share beat the Zacks Consensus Estimate by more than 56%, while sales jumped nearly 20%. Most importantly, BBY raised its fiscal year comps view. Shares of the company surged 8.3% today. Wednesday’s reports include salesforce.com (CRM), Ulta Beauty (ULTA), DICK’S Sporting Goods (DKS) and Williams-Sonoma (WSM), among several others. The major news of the whole week, though, probably won’t come until Friday, when Fed Chair Jerome Powell makes remarks during the annual Jackson Hole Economic Symposium (which isn’t really in Jackson Hole due to the delta variant). Minutes from the July Fed meeting suggested that members were warming up to the idea of some tapering, perhaps as early as later this year. Investors will be watching for any further hints on a timeline, which could provide for a crazy end to the week.   “Because of the delta variant, markets are expected Powell to hold back on taper talk. All we can do is wait and watch how the market reacts,” said Jeremy Mullin in Counterstrike. “I am not expecting a lot of surprises from Powell, but I think the market is being complacent about how tapering might affect stocks.” Today's Portfolio Highlights: Stocks Under $10: After cutting five names last Tuesday (and another one today), this portfolio has plenty of open spots. Brian filled two of them on Tuesday by adding Babcock (BW) and Oaktree Specialty Lending (OCSL), which are both Zacks Rank #2s (Buys). BW offers energy technology and services for the nuclear, fossil and renewable power markets. Improving margins and topline growth has the editor expecting a higher stock price down the road. OCSL is a specialty finance company that has beaten earnings estimates three times in the past four quarters and matched once. Brian likes its valuation, especially when considering topline growth of 90% and increased operating margins. By the way, the portfolio also sold the underperforming Volt Information Sciences (VOLT) position today. Read the full write-up for more on all of today’s action. By the way, this portfolio had the top performer among all ZU names today as GT BioPharma (GTBP) jumped 17.2%. Counterstrike: Shares of Sonos (SONO) surged higher after the audio products company announced a “monster” quarter, which included a 258% beat and a raised guidance. Earnings estimates advanced as well and turned the stock into a Zacks Rank #1 (Strong Buy). Furthermore, a few price targets have even moved past $50, which is about 20% higher than the current level. But the stock has pulled back a bit and held steady for a while. Jeremy agrees with those raised targets and believes SONO could get past $50 moving forward, so he added the stock on Tuesday with a 12% allocation. Read the complete commentary for more specifics. Large-Cap Trader: With a week left in the month of August, John thought this was a good time for his monthly fine-tuning. He began by getting out of three “sidewinders”: Williams-Sonoma (WSM, +2.8%), ManpowerGroup (MAN, +1.3%) and Kimberly-Clark Corp. (KMB). Their lethargic action since being added suggests that forward earnings news is priced in. The editor is refocusing the portfolio in the electronics area (broadly defined) by adding the following three names: • ON Semiconductor (ON) • Flex Ltd. (FLEX) • Eaton Corp. (ETN) These names are big players in the semiconductors, electronics manufacturing services, and industrial manufacturing electronics spaces, respectively. They all have enviable Zacks Ranks, especially ON’s status as a Zacks Rank #1 (Strong Buy). They are also from top-ranked industries and recently reported double-digit EPS surprises. In fact, their average beats over the past four quarters are in the double digits as well. John added each name with a portfolio weight of 6%. Read the full write-up for a lot more specifics on these new buys, including their valuations and betas. Surprise Trader: You may remember that Ulta (ULTA) has been a part of this portfolio several times over the years... and now it is again. But this time the beauty products staple enters the service as a Zacks Rank #1 (Strong Buy) after beating expectations for four straight quarters. The last positive surprise was 113%. Ulta has a positive Earnings ESP of 17.59% for the quarter coming tomorrow after the bell, which is a good sign that it’s poised to outperform for a fifth straight quarter. Dave added ULTA on Tuesday with a 12.5% allocation, while also selling Terex (TEX) for a 9.8% return in less than a month. Read the full write-up for more. Options Trader: After trading in a confined range for much of the year, Kevin noticed that Chubb (CB) has finally broken out to the upside. He sees a great opportunity to add this property & casualty insurance and reinsurance company, especially since it’s a Zacks Rank #1 (Strong Buy) in a highly-ranked industry (top 17%). On Tuesday, the editor bought to open a January 190.00 Call in CB. Make sure to read the full write-up for a recap on this move and the whole portfolio. Zacks Short Sell List: The portfolio cashed in a double-digit winner on Tuesday as part of three changes in this week's adjustment. The stocks that were short-covered included: • JOYY Inc. (YY, +29.4%) • JD.com (JD, +7.4%) • Amazon (AMZN) The new additions that filled these spots were: • Huazhu Group (HTHT) • Canada Goose (GOOS) • The AZEK Company (AZEK) Learn more about this emotion-free portfolio that takes advantage of falling and volatile markets by reading the Short Sell List Trader Guide. Have a Good Evening, Jim Giaquinto Recommendations from Zacks' Private Portfolios: Believe it or not, this article is not available on the Zacks.com website. The commentary is a partial overview of the daily activity from Zacks' private recommendation services. If you would like to follow our Buy and Sell signals in real time, we've made a special arrangement for readers of this website. Starting today you can see all the recommendations from all of Zacks' portfolios absolutely free for 7 days. Our services cover everything from value stocks and momentum trades to insider buying and positive earnings surprises (which we've predicted with an astonishing 80%+ accuracy). Click here to "test drive" Zacks Ultimate for FREE >>  Zacks Investment Research.....»»

Category: topSource: zacksSep 21st, 2021

Winning Streaks End While Waiting for Jackson Hole Comments

Winning Streaks End While Waiting for Jackson Hole Comments After grinding higher and setting new records over the past several sessions, stocks finally took a break on Thursday as investors wait to hear what Fed Chair Jerome Powell has to say at this year’s (virtual) Jackson Hole meeting. The NASDAQ slipped 0.64% (or about 96 points) today to 14,945.81, while the S&P was off 0.58% to 4470. These declines snap five-day winning streaks and also end three consecutive days of record highs for the former index and two for the latter. The Dow’s four-day run ended as well with a decline of 0.54% (or about 192 points) to 35,213.12. We won’t have long to wait for Mr. Powell’s comments, as he’s scheduled to speak tomorrow morning shortly after the open. However, several Fed hawks were out today talking about the need to taper sooner rather than later, which probably curtailed any desire for already skittish investors to buy. The Chair is not expected to be as strident in his comments tomorrow. In fact, many of the editors don’t expect him to make much news at all. “The markets appear to be preparing for the possibility of a policy shifting announcement (aka a tapering timeline). I don't see this as a very likely event, at least not until we see that the Delta-dent hasn't impacted the jobs market in August (the August jobs report will be released next Friday),” said Dan Laboe in Headline Trader. “Still, the symposium could be market moving considering the global elements involved (Center Bankers from around the world are attending)." And of course, investors were feeling horrible about the devasting news that 12 U.S. service members were killed in a pair of suicide bombings near the Kabul airport in Afghanistan. Meanwhile, jobless claims were… OK. The print came to 353,000 for last week, which is still pretty low for these difficult times but did technically miss the expectation of only 350K. Plus, it was slightly worse than the previous week, which means we’ve come off the pandemic-era low.   Likewise, the second revision of domestic GDP in the second quarter came to 6.6%, which was 0.1% better than the previous report and suggests a 0.3% improvement over the first quarter. However, it was a little less than expected. Stocks are in positive territory for the week heading into Friday’s session, but Mr. Powell’s comments could be the deciding factor. The editors didn't make any moves on Thursday with so much uncertainty in the air, so here's some analysis to hold you over until tomorrow. Today's Portfolio Highlights: ETF Investor: “Investors are now focused on comments expected from Federal Reserve Chair Powell and other officials on Friday at the important Jackson Hole summit that is being held virtually again this year. This morning, three Fed officials told CNBC that the Fed should start its tapering process soon. “St. Louis Fed President James Bullard cited evidence the massive bond purchases have started to create bubbles in the housing market. Kansas City Fed President Esther George also said tapering appears appropriate given the progress we’ve seen. Dallas Federal Reserve President Robert Kaplan said he is worried about inflation as well as financial market imbalances. “Jobless claims ticked up to 353,000 from the previous week’s 349,000. While they were slightly worse than the 350,000 consensus estimate, they remained close to post-pandemic lows.” – Neena Mishra Income Investor: "Stocks fell from their records on Thursday as investors anxiously await the minutes from the Fed’s annual summit in Jackson Hole tomorrow. "Clarity on the central bank’s plans to pull back on monetary stimulus will be the hot topic. Many experts who’ve already made comments agree that the tapering of bond purchases is becoming a more appropriate action based on the economic progress we’ve seen so far. "Of course, the pace of tapering, and when it will start—this is important since nailing the timing could prevent the economy from overheating—will be the key factors driving the stock market, as well as how we all will approach investing and managing our portfolios. "Another thing to keep watch for tomorrow will be any comments on timing for interest rate hikes." -- Maddy Johnson All the Best, Jim Giaquinto Recommendations from Zacks' Private Portfolios: Believe it or not, this article is not available on the Zacks.com website. The commentary is a partial overview of the daily activity from Zacks' private recommendation services. If you would like to follow our Buy and Sell signals in real time, we've made a special arrangement for readers of this website. Starting today you can see all the recommendations from all of Zacks' portfolios absolutely free for 7 days. Our services cover everything from value stocks and momentum trades to insider buying and positive earnings surprises (which we've predicted with an astonishing 80%+ accuracy). Click here to "test drive" Zacks Ultimate for FREE >>  Zacks Investment Research.....»»

Category: topSource: zacksSep 21st, 2021

4 Creative Follow-Up Ideas to Convert Leads

Following up is critical to staying top of mind and nurturing relationships to convert leads into clients. While most agents are familiar with checking in with phone calls and emails, getting creative with how you follow up with your leads never hurts. There are more than a few ways to show you are a relatable […] The post 4 Creative Follow-Up Ideas to Convert Leads appeared first on RISMedia. Following up is critical to staying top of mind and nurturing relationships to convert leads into clients. While most agents are familiar with checking in with phone calls and emails, getting creative with how you follow up with your leads never hurts. There are more than a few ways to show you are a relatable agent they should work with, from personalized video thank you messages to proactively answering frequently asked questions. To start, try incorporating these four creative follow-up tactics into your relationship-building strategy to turn those on-the-fence leads into loyal clients. Video Texts Rather than sending a text or an email, go the extra mile and record a custom video thanking them—by name—for getting in touch with you and expressing interest. Create a connection with your lead by being authentic and showing your personality in the message. Make sure to end your video text by leaving the door open for them to contact you with further questions. Neighborhood Profile During your first encounter with a prospect, gather details of what they may be looking for in a home. Then, wow them with a recorded neighborhood profile of an area that fits their preferences. If you have a property or an area that they may be interested in, head into the community and profile the different businesses and landmarks beloved in the area to showcase a possible landing spot for them. Digital Postcards Who doesn’t like a personal thank you card? While physically writing one is also a great follow-up option, take it further by making it digital. Create a virtual postcard using apps like Canva or Visme. Both design platforms have plenty of templates—including animated options—that you can customize with your brand logo and colors. After meeting with prospects, copy your template and write a personalized message with links to your contact information, website and social media accounts. You can also provide some additional market and listing information for them to hold onto. The ‘Little Details’ Text/Call Phone and text follow-ups are tried-and-true tactics, but they don’t always have to be about business or listings. During your first lead meeting, note a few things during your conversations with the prospective client that aren’t directly related to real estate. Perhaps they mentioned a child’s soccer game coming up or a special event or hobby they have. Whatever little detail(s) you gather from your first encounter, lean on those when you follow up with your client. This will show them that you were genuinely listening to them during your meeting and will help build a rapport with them. Explore different relationship-building methods that will keep you top of mind and showcase your value as an agent. Agents, what are some creative ways that you follow up with your leads? Jordan Grice is RISMedia’s associate online editor. Email him your real estate news ideas to jgrice@rismedia.com. The post 4 Creative Follow-Up Ideas to Convert Leads appeared first on RISMedia......»»

Category: realestateSource: rismediaSep 21st, 2021

Proto Labs to hold virtual investor day

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Category: blogSource: theflyonthewallMay 20th, 2021

Allogene Therapeutics to hold a virtual event

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Category: blogSource: theflyonthewallMay 18th, 2021

Avidity Biosciences to host virtual analyst and investor event

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Category: blogSource: theflyonthewallMay 18th, 2021

Veritone to hold a virtual investor and technology day

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Category: blogSource: theflyonthewallMay 14th, 2021

Veritone to hold a virtual investor and technology day

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Category: blogSource: theflyonthewallMay 14th, 2021

Brookings Institution to hold a virtual event

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Category: blogSource: theflyonthewallMay 6th, 2021

Federal Reserve Bank of New York to hold a virtual event

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Category: blogSource: theflyonthewallMay 6th, 2021

Afya to hold a virtual event

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Category: blogSource: theflyonthewallMay 6th, 2021