Genuine Parts Co - Thomson 158 Reuters https://thomson158reuters.servehalflife.com Latest News Updates Tue, 22 Oct 2024 22:43:45 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 Jim Cramer explains why money rotated back into Big Tech https://thomson158reuters.servehalflife.com/jim-cramer-explains-why-money-rotated-back-into-big-tech/ https://thomson158reuters.servehalflife.com/jim-cramer-explains-why-money-rotated-back-into-big-tech/#respond Tue, 22 Oct 2024 22:43:45 +0000 https://thomson158reuters.servehalflife.com/jim-cramer-explains-why-money-rotated-back-into-big-tech/ CNBC’s Jim Cramer analyzed Tuesday’s market action and explained why some Big Tech favorites saw gains while other stocks floundered, saying investors are worried about the broad economic implications of rising bond yields. “Big tech made a big comeback today because of the bond market, not anything to do with the stocks themselves,” he said. […]

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When yields go up, money managers reach for companies not impacted by higher rates, says Jim Cramer

CNBC’s Jim Cramer analyzed Tuesday’s market action and explained why some Big Tech favorites saw gains while other stocks floundered, saying investors are worried about the broad economic implications of rising bond yields.

“Big tech made a big comeback today because of the bond market, not anything to do with the stocks themselves,” he said. “So, keep in mind that the pause in the rally is temporary, even as you should still own some of the Magnificent Seven for diversification.”

Tuesday marked a second consecutive day of losses for the Dow Jones Industrial Average, with the index posting its first back-to-back loss since September. The S&P 500 also closed lower, but the tech-heavy Nasdaq Composite rallied and finished up 0.18%.

Rising bond yields lead traders out of cyclical stocks and back into secular winners that had led the market for much of the year and don’t rely as much on the Federal Reserve’s rate cycle, according to Cramer. Several recent earnings reports disappointed investors, he added, because they didn’t seem compatible with “the rather benign moment” where the Fed is cutting rates yet employment remains strong. He named weaker figures from GE Aerospace, Kimberly-Clark, Nucor, Genuine Parts and PulteGroup. Meanwhile, stock of Amazon, Meta, Alphabet and Microsoft saw a boost.

But Cramer rebuked negative theses for some of the stocks that saw losses, saying some of the companies are fundamentally solid. He said the stocks can rise again even after a day like Tuesday when money managers “get scared out of cyclicals and nervous about aerospace, frightened of homebuilders, stupefied by auto parts and chilled by Kleenex sales.”

“We’ve seen this movie before. It’s been happening for more than a decade,” Cramer said. “Don’t worry, the money can rotate just as soon right back to where it was.”

Big Tech came back today because of the bond market, says Jim Cramer

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]]> https://thomson158reuters.servehalflife.com/jim-cramer-explains-why-money-rotated-back-into-big-tech/feed/ 0 21413 Stocks making the biggest moves midday: Genuine Parts, General Motors, Verizon, Philip Morris and more https://thomson158reuters.servehalflife.com/stocks-making-the-biggest-moves-midday-genuine-parts-general-motors-verizon-philip-morris-and-more/ https://thomson158reuters.servehalflife.com/stocks-making-the-biggest-moves-midday-genuine-parts-general-motors-verizon-philip-morris-and-more/#respond Tue, 22 Oct 2024 16:28:09 +0000 https://thomson158reuters.servehalflife.com/stocks-making-the-biggest-moves-midday-genuine-parts-general-motors-verizon-philip-morris-and-more/ Check out the companies making headlines in midday trading: Genuine Parts — Shares fell about 20% on the back of the company’s weaker-than-expected earnings for the third quarter. During the period, Genuine Parts earned $1.88 per share, excluding items, below the $2.42 per share that analysts polled by FactSet were expecting. It also slashed its […]

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