Tag Archives: BofA

The demand for cruise vacations may be weakening as high levels of inflation, the ongoing COVID-19 pandemic, and a slowing economy weigh on consumer purchase decisions. Royal Caribbean, Norwegian Cruise Line, and Carnival all saw capacity-weighted sequential ticket pricing declines from May to June, according to new data from BofA Global Research. Price declines ranged from 1% to 3% compared to May, with Carnival seeing the largest drop (2.6%). The pricing softness looks to be extending into… Source link

Chip designer NVIDIA (NVDA) Corp. disappointed on guidance in their latest earnings report, but there was a lot in the update that Bank of America (BofA) analysts liked. “Our positive view on Nvidia is based on its underappreciated transformation from a traditional PC graphics chip vendor, into a supplier into high-end gaming, enterprise graphics, cloud, accelerated computing and automotive markets,” Bank of America analysts wrote in a recent note. “The company has executed consistently and… Source link

The housing market has been hot for a couple of years now, and that’s unlikely to change any time soon as millennial demand remains red hot, according to new data from Bank of America (BAC). The 2022 Millennial Home Improvement Survey found that 67% of Generation Y responded that they were likely to buy in the next two years. “The #1 reason cited was an improving financial position, following the trend from the last few years of our survey,” BofA Global Research’s Senior Retail… Source link

The market is in full panic mode. The S&P 500 is down 18% year to date. The Nasdaq is down a staggering 27%. And even the Dow Jones — made up of the 30 most prominent publicly-traded companies — is in correction territory. According to Bank of America, there’s one thing that might save the stock market in 2022: money that corporations can return to shareholders. “The best hope for 2022 bulls lies in the ability of investors to dislodge the $7.1 trillion in idle U.S. corporate cash,”… Source link

(Bloomberg) — Money is leaving every asset class and the exodus is deepening as investors rush out of names like Apple Inc., according to Bank of America Corp. strategists. Most Read from Bloomberg Equities, bonds, cash and gold all saw outflows in the week ended May 11, strategists led by Michael Hartnett wrote in a note, citing EPFR Global data. At $1.1 billion, technology stocks suffered their biggest withdrawals so far this year, second only to financials, which lost $2.6 billion. “The… Source link

Ford (F) recently began production of its highly anticipated F-150 Lightning electric pickup truck on Tuesday. The automaker announced that it has already secured 200,000 reservations for the Lightning from customers. Amid the hot demand for electric trucks, Bank of America (BAC) Head of U.S. Autos Research John Murphy says that many people who are buying electric pickup trucks are actually first-time truck buyers. “The really intriguing thing about what’s going on with the F-150 Lightning… Source link

LONDON (Reuters) – The macro-economic picture is deteriorating fast and could push the U.S. economy into recession as the Federal Reserve tightens its monetary policy to tame surging inflation, BofA strategists warned in a weekly research note. “‘Inflation shock’ worsening, ‘rates shock’ just beginning, ‘recession shock’ coming”, BofA chief investment strategist Michael Hartnett wrote in a note to clients, adding that in this context, cash, volatility, commodities and crypto currencies could… Source link

Investors are starting to get very nervous about the market’s near-term direction, and it shows in their actions. “Russia/Ukraine drives fund manager cash levels to highest since April 2020 (COVID), global growth optimism to lowest since Jul’08 (Lehman),” said Michael Hartnett, Bank of America chief investment strategist, in the latest survey of managers from the bank. The details behind the report are ugly. Hartnett notes growth expectations among fund managers is at a 14-year low. The… Source link

Fund managers are at least thinking a “recession scare” could emerge in the market this year, reflecting one to two months of heightened geopolitical risks, elevated inflation and rising interest rates. “Upcoming recession scare best played via long bonds-short commodities,” said the latest Bank of America fund manager survey. The report reflects responses from 171 participants managing $391 billion in client money. On the positive side, fund managers don’t expect a technical recession this… Source link

Amazon (AMZN) bulls may finally have a reason to smile — just like the company’s logo suggests — after a relatively ugly winter, according to a recent Bank of America (BAC) Global Research report. “We continue to rate Amazon as our top FANG and large-cap Internet stock for 2022,” Bank of America analyst Justin Post wrote in his report. “Amazon’s profit outlook is improving as the COVID impact on labor and supply chain subsides.” Amazon pushed markets up on Friday, and was the… Source link