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CNBC Pro: Worried about a recession? AllianceBernstein shares a way to defend – and names 10 global stocks
According to asset management firm AllianceBernstein, high-yield stocks are performing well despite rising interest rates.
“We view high equity yield as a more defensive and high-quality flavor of value that could act as a useful hedge against slower growth or potentially a mild recession,” the firm’s analysts wrote in a recent note. Could.”
AllianceBernstein performed a screen of “High Combined Yield Stocks” in Europe for the final quarter of the year. The few that emerged were given “superior performance” ratings.
CNBC Pro subscribers can read more about them here.
– Amala Balakrishner
an hour ago
CNBC Pro: ‘An iPhone moment’: Bernstein names global stocks for ‘sharp rise’ in battery tech
According to Bernstein, the energy transition will require more and better batteries.
He said the energy transition to both electric vehicles and energy storage will require a 25-fold increase in battery sales by 2022.
One type of battery technology will likely be an “iPhone moment” for the industry, the firm said, naming one of the stocks with a near 100% potential upside.
CNBC Pro subscribers can read more here.
– Weizen Tan
12 hours ago
US economy grew more than expected in the third quarter
U.S. gross domestic product grew an annualized 4.9% in the third quarter, beating the Dow Jones forecast of 4.7% growth. That expansion rate is also higher than the 2.1% seen in the second quarter. It is the latest sign of economic resilience despite moves by the Federal Reserve to tighten monetary policy to tame inflation.
– Fred Imbert, Jeff Cox
10 hours ago
JPMorgan says retail traders increase selling of single stocks after weeks of buying
Retail traders increased selling of single stocks in the broader market, but remained partial to reducing positions in the utilities, real estate and financial sectors, according to JPMorgan. The firm reported that retail traders sold about $365 million worth of equities in the past week.
However, analyst Peng Cheng wrote on Wednesday that retail traders showed particular interest in chip stocks AMD and Nvidia, which saw $369 million and $252 million worth of stock purchases respectively last week.
8 hours ago
S&P 500 is in correction on intraday basis
The S&P 500 is hitting its session low and is now in a correction on an intraday basis. The benchmark’s decline from its 52-week intraday high in July is now 10.1%.
The S&P 500 is down 9.7% from its 2023 high closing price on July 31, so there is no official correction yet.
The Nasdaq Composite is already in correction territory entering Wednesday.
2 hours ago
Major averages are on pace for three consecutive losing months
Stocks are struggling, and all three major averages are set to decline for the third consecutive month.
The S&P 500 is down 3.52% in October. The Nasdaq Composite is down 4.72%, and the Dow Jones Industrial Average is down 2.16%.
If the indexes end the month with losses, it would be the first time the Dow and S&P 500 have declined for three consecutive months since March 2020.
The last time Nasdaq declined for three consecutive months was in June 2022.
,Darla Mercado, Chris Hayes