Stock Market Today: Live Updates | Wilnesh News

A new report from Morgan Stanley confirms investor suspicions that the U.S. market’s rally will extend this year.

“We analyzed 6 different breadth indicators for S&P 500 sectors as well as the overall index by looking at their percentile rankings this cycle (since the COVID-19 lows),” strategist Michael Wilson wrote. “What matters most What is clear is that breadth has improved over the past month – the average ranking percentage of these six indicators in the S&P Overall Index is now 70%, up from 55% a month ago.”

Wilson went on to note that the industrial sector is currently showing the strongest breadth characteristics compared to a month ago. Energy, materials, real estate and utilities, on the other hand, showed the largest breadth improvements last month.

The strategist added: “The recent expansion in large-cap leadership may be attributable to inconsistencies in how the market responds to rising interest rates and large-cap index multiples remaining elevated.”

— Lisa Kailai Han

Matt Orton, chief market strategist at Raymond James Investment Management, said investors should ignore concerns about high valuations and focus on the growth of the “stock picking market” now.

Orton said the recent diverging fortunes of the so-called “Magnificent 7” giant tech stocks, which have provided much of Wall Street’s upward momentum over the past 18 months, are proof that “we’re back in the stock-picking market,” Among them, “fundamentals” are important again. “

The high valuations of U.S. stocks have caused a lot of concern. Nvidia Magnificent 7 trades at about 35 times forward earnings, while the broader Magnificent 7’s average forward price-to-earnings ratio is about 34 times, according to FactSet data. At the same time, the S&P 500’s forward price-to-earnings ratio averaged 21 times, a record high.

Tate Orton believes that historical comparisons are irrelevant in “faster-growing” markets and that paying higher multiples is “completely fair” in this changing environment.

“It’s all about earnings growth, it’s all about understanding what’s going on with those fundamentals and trying to avoid those parts of the market where earnings are not moving positively,” Orton said.

“If you do that, no matter what the valuation is, you can grow, and I think that’s the main message for investors, which is ‘Look for growth.'”

Read the full story here.

— Elliot Smith

letter Shares rose 4% after hours Bloomberg report That apple The company is reportedly in talks with the search giant to license its Gemini AI model to power features in the iPhone.

The report quoted people familiar with the matter as saying that the two companies have been in “active negotiations” about Gemini running some features planned to be launched with the new iPhone software later this year. Bloomberg also reported that Apple has held talks with OpenAI.

Apple shares were last up about 0.3%.

Goldman Sachs said monthly inflows into domestic equity funds rose to $3.2 billion in February, a 23-month high, according to data from the Reserve Bank of India. Mutual Fund Association of India.

GS said inflows into equity funds through systematic investment plans, or SIPs, remained strong, hitting a new high of $2.3 billion.

According to Goldman Sachs, foreign capital inflows into India also reached $2.2 billion in the week ended March 15.

Nationwide Nifty 50 Index It fell 0.3% on Monday after falling more than 2% last week.

—Shreyash Sanyal

China’s retail and fixed asset investment data for the first two months of 2024 were stronger than expected.

Retail sales grew 5.5% and industrial production grew 7%, both exceeding analysts’ expectations. The urban unemployment rate was 5.3% in February.

In January and February, real estate investment fell by 9% annually, while manufacturing investment increased by 9.4%.

China’s January and February data are typically combined to smooth out variations from the Lunar New Year, China’s largest national holiday during which businesses close for at least a week.

— Evelyn Cheng

Japan’s Nikkei 225 Index Stocks rose more than 2% on Monday, topping the 39,000 mark for the first time in 10 days, as manufacturing and healthcare stocks drove gains.

However, the index’s biggest gainers were fintech companies Rakuten Groupsoared 7.38%.

Other top gainers include automakers Nissan The increase exceeded 6.5%, and pharmaceutical companies Chugai Pharmaceuticalup 4%.

The yen fell 0.18% to 149.29 against the dollar as the index rose.

Ernst & Young chief economist Gregory Dako said the Fed chairman may provide less clear information at the central bank’s policy meeting starting on Tuesday.

“We believe Fed Chairman Powell will be less transparent about potential rate cuts in May and June than in January,” Darko said in a note on Friday. “However, we do expect him to emphasize that the Fed Policymakers have begun discussing the timing and logistics of policy easing and the quantitative tightening process of reducing their balance sheets.”

— Brian Evans

Stock futures were little changed on Sunday as Wall Street awaited insights on rate cuts ahead of this week’s Federal Reserve policy meeting.

Dow Jones Industrial Average Futures fell 20 points, or 0.05%, while Nasdaq 100 Futures up 0.1%.Futures and S&P 500 Index hovering near the flat line

— Brian Evans