Stock Market Today: Live Updates

8 hours ago

Narrow width creates buying opportunities, says Liz Ann Sonders of Charles Schwab

Liz Ann Sonders, chief investment strategist at Charles Schwab, believes weakness in individual stocks creates buying opportunities.

The investment chief noted that resilience this year at the index level has masked little depth beneath the surface. She noted, for example, that a greater proportion of components in the Nasdaq Composite are below their 200-day moving averages than in the S&P 500. For investors, she expects this to mean that the Nasdaq can outperform the S&P 500 on a relative basis going forward. .

It also suggests that investors can find individual buying opportunities, she said, while urging investors to focus on quality companies with strong balance sheets and cash flows.

“I think opportunities are being created at the individual stock level because of the much lower reach of the average stock,” Sonders told CNBC’s “Closing Bell” on Tuesday.

“I think they should remain high quality,” she added.

-Sarah Min

8 hours ago

Nvidia’s Forward P/E and Market Cap Could Increase by Year-End, According to EMJ Capital’s Eric Jackson

Nvidia is poised to continue its monstrous run, according to Eric Jackson of EMJ Capital. The hedge fund manager expects its forward price-to-earnings ratio to reach nearly 70 and reach $6 trillion in market capitalization at $250 per share by the end of the year.

“This is a moment of great proportions,” the company’s founder and chairman told CNBC’s “Closing Bell” on Tuesday, adding that the euphoria still hasn’t caught up. He sees the euphoria reflected in a “high” valuation in the second half of 2024, when sales of its Blackwell chip begin to arrive and the future release of its next-generation Rubin chip generates anticipation.

“Nobody catches them,” he continued. “It won’t happen for years. They will take advantage of the head start they have. »

Shares of the chipmaker were up about 6.8% during Tuesday’s trading session, and its forward P/E was 47.47. The stock is up 154.6% this year.

“We are below the average of the last five years, so even though the stock has performed so well, it is still relatively cheap compared to where it has traded in the past,” he said.

—Sean Conlon

9 hours ago

Stock futures little changed

Stock futures were little changed Tuesday, following the S&P 500’s rebound after a three-session decline.

Futures contracts tied to the broad market index fell 0.06%. Futures on the Nasdaq 100 fell 0.02%, while futures on the Dow Jones Industrial Average slipped 62 points, or 0.1%.

—Brian Evans

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