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1 hour ago
“Stock markets will play that role this year,” says BlackRock’s Rick Rieder.
Investors should expect another solid return from the stock market this year, said Rick Rieder, BlackRock’s chief investment officer for global fixed income.
“Equities will play that role. I think stocks could see a 10%, 12%, maybe 15% return this year. This is a pretty good portfolio, and I don’t think you need long-term bonds to hedge.” said Reeder. He, who oversees the company’s $2.8 trillion in fixed income assets, told CNBC on Thursday afternoon. “Today, I think we can build a somewhat stable portfolio and get on with it.”
Rieder added that the persistence of service level inflation will begin to balance out in the coming months. He expects inflation to moderate, allowing for a “normal” economy with nominal GDP growth of around 4%. Consumer spending will also remain strong, he said.
— Peer Singh
1 hour ago
These are the stocks that made the biggest moves in after-hours trading
In this illustrated photo, the Coinbase logo is displayed on a mobile phone screen.
Idris Abbas | SOPA Images | Light Rocket | Getty Images
Let’s check out the companies that are becoming a hot topic for after-hours trading.
- Coinbase – Shares of the cryptocurrency exchange rose 13% in after-hours trading after the company posted a profit of $1.04 per share on revenue of $954 million in the fourth quarter. Analysts had expected a loss of 1 cent per share on revenue of $822 million, according to LSEG.
- Applied Materials – Shares of the semiconductor equipment maker soared 11% in after-hours trading as revenue beat expectations and the company gave a positive outlook for the second quarter. Earnings per share (excluding items) for the first quarter were $2.13, beating LSEG’s estimate of $1.90. Revenue for the period was $6.71 billion, exceeding expectations of $6.48 billion.
- Toast – Shares of the maker of restaurant point-of-sale systems rose 3% in after-hours following fourth-quarter results. LSEG said the company posted a loss of 7 cents per share, narrower than the 11 cents per share loss expected by analysts. Revenue came in at $1.04 billion, roughly in line with expectations of $1.02 billion.
Read here for the complete list.
— Peer Singh
1 hour ago
Stock futures trading remains largely unchanged
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