ECONOMIC SILUET: Watch these homebuilder stocks, Meta and these bond ETFs in tomorrow’s trading

Rabu, 01 Februari 2023

Watch these homebuilder stocks, Meta and these bond ETFs in tomorrow’s trading

WED, FEB 01, 2023

The goal of this newsletter is to get you ahead of the next day of investing and trading. It's your first look at tomorrow and last look at today powered by the team of people who direct CNBC TV's stock market coverage.

Tomorrow's Top CNBC Stories Tonight

Meta's big move in after-hours trading

The stock is up about 20% after hours.
Lots of reporting from CNBC's Julia Boorstin who spoke with the chief financial officer who called engagement strong, said "Reels" was scaling up and on track to becoming cost neutral and that the company was driving improvements in ad performance and investing in AI.
With the after-hours, jump this stock is up more than 50% in a month.
CNBC Contributor Josh Brown also highlighted the company's cost-cutting today after the report came out.
Meta did so well that even Snap is up by 1% after the bell.

Gold prices rise

After the Federal Reserve's interest-rate decision at 2 p.m. ET, gold rose by 1.15%.
In a month, gold is up 7.7%.

Top bond ETFs and Jeffrey Gundlach on CNBC

Among the best performing bond ETFs today was the iShares JPMorgan USD Emerging Markets Bond ETF (EMB), which tracks debt in emerging markets.
It took off at 2:30 p.m. ET during the Fed chief's news conference.
The EMB was up almost 2% today.
The dividend is 4.8%.
The SPDR DoubleLine Total Return Tactical ETF (TOTL) was up almost 1%. The dividend on TOTL is now 4.6%.
DoubleLine's Jeffrey Gundlach making a lot of headlines on "Closing Bell: Overtime" today saying he thinks the Fed will raise one more time before ending the cycle. Gundlach thinks the chances of a recession are decreasing and that it's very unclear if there will be a rate cut this year. He also sees inflation continuing to fall for now, but said it was possible it might come back up in the second half of the year.

Major names reporting Thursday

Alphabet: 33% off the high, but up nearly 14% in 2023.
Amazon: 38% off the high, but up 25% in 2023.
Apple: 19% off the high, up 12% in 2023.
Ford: 34% off the high, up 18.5% in 2023.

Health care in the U.S.

Eli Lilly reports Thursday morning. The stock is down 6% in 2023.
Bristol-Myers Squibb reports Thursday morning. The stock is down 1% in 2023.
S&P Health Care is down 1.5% year to date. It's the second worst performing S&P sector, next to utilities.

Insurance stocks' big run

Hartford Financial reports Thursday. The stock is just 4% from a high, and it's up 20% in six months.
Many of the big names in the insurance business are within 10% of their highs including Aon, Progressive, Marsh & McLennan, Arthur J. Gallagher, Willis Towers Watson and Travelers.

Homebuilder stocks rally

Mike Santoli focused on this area of the market today.
The iShares U.S. Home Construction ETF (ITB) was up 2% today. It's 1% off the 52-week high hit a full year ago.
The SPDR S&P Homebuilders ETF (XHB) was up 2% today. It's 5.4% from the 52-week high, also hit a full year ago.
Forty-four of the 48 stocks in the ITB are up at least 10% in 2023.
Leaders include Hayward Holdings, up 48% in 2023 and Floor & Decor, up nearly 37%. Green Brick Partners is up 33% this year.
Other big gainers in 2023:
Beazer is up 30%.
Pulte is up 28%.
KB Home is up 22%.
Toll Brothers is up 21%.
NVR is up 16%
Lennar is up 15.7%.