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Wall Street’s biggest bull for 2017 outlines what would make him turn bearish

PrudentialJohn Praveen has the most bullish outlook on the stock market next year that we've seen.  The chief investment strategist at Prudential sees the S&P 500 rising to 2,575 in 2017. No other strategist at a major firm forecast that the index will end that high — about 14% from current levels.  Tom Lee, co-founder of Fundstrat and the biggest bull for 2016, will … [Read more...]

Lululemon is soaring after beating on earnings and raising its guidance (LULU)

Facebook/LululemonLululemon shares jumped by as much as 12% in after-hours trading on Wednesday after the company reported third-quarter earnings that were stronger than analysts had expected.  Lululemon is poised to continue benefitting from strong demand for its leggings, according to Piper Jaffray. The bank's semiannual report on teen spending showed that leggings/Lululemon … [Read more...]

STOCKS HIT ALL-TIME HIGHS AGAIN: Here’s what you need to know (FIT)

Brendan McDermid/ReutersUS stocks on Wednesday closed at an all-time high — the 12th record since Donald Trump was elected president in November. The Dow Jones Transport Average hit its first intraday high in two years.  First, the scoreboard: Dow: 19,549.62, +297.84, (1.55%) S&P 500: 2,241.35, +29.12, (1.32%) Nasdaq: 5,393.76, +60.76, (1.14%) Donald Trump's … [Read more...]

One thing will define the winners and losers in markets next year

Eduardo Munoz/ReutersThere will be a "massive dispersion" between parts of the market that benefit from higher inflation and those that would be hurt by it, according to Michael Hartnett, the chief investment strategist at Bank of America Merrill Lynch. The jump in Treasury yields and the steepening of the yield curve provided the clearest proof that traders expect inflation to start to rise … [Read more...]

Stocks just did something that we’ve never seen outside of a financial crisis

The S&P 500 closed down for a seventh straight day on Wednesday.  It's only the fourth time in the last 20 years that this has happened. But every other episode was a reaction to the European debt crisis or the collapse of Lehman Brothers in 2008, according to Callie Bost, a listed derivatives analyst at Tabb Group. The benchmark index has lost about 2% since October 27. A … [Read more...]

A major weather pattern is about to dominate global currency markets

Danish Siddiqui/ReutersOne of the biggest drivers of Asian currencies in the coming months could be the weather. In a note out Wednesday, strategists at Deutsche Bank examined how the climate pattern La Niña could affect Asian economies, and how a pass-through effect from the weather could ease a jump in inflation and eventually weaken currencies. The National Oceanic and Atmospheric … [Read more...]

Here’s a super-quick guide to what traders are talking about right now (SPY, QQQ, SPX, DJI, IXIC, TLT, TLO, USD, DXY)

Thomson ReutersVia Dave Lutz at JonesTrading, here's a super-quick guide to what traders are talking about right now: Good Morning!  US Futures are adding small ahead of Yellen at 12:30 in Philly, a timely speech as the Fed tomorrow goes into its “Blackout Window” ahead of next week’s meeting.  European markets are mixed, with the DAX basically unchanged with Telecom … [Read more...]