Investors should diversify beyond ‘Magnificent 7’ stocks, says Richard Bernstein
An hour ago
Renowned investor Richard Bernstein is advising investors to consider alternative investments, such as small-cap stocks and emerging markets, outside the popular ‘Magnificent 7’ stocks. He believes that relying solely on a limited number of stocks is not a sound strategy for building long-term wealth. In an interview with CNBC’s Power Lunch, Bernstein emphasized the importance of exploring opportunities beyond the US and diversifying with smaller companies.
Bernstein criticized the bearish view that restricts investing to just seven companies, highlighting the vast potential and opportunities available outside these select stocks.
Source: CNBC
Small-cap Russell 2000 achieves a four-day winning streak
An hour ago
The Russell 2000, a small-cap stock index, showed strong performance by achieving a four-day winning streak. In contrast to the tepid performance of the major averages, the Russell 2000 surged over 1% on Tuesday, outperforming the S&P 500 and the Nasdaq Composite.
Although the Russell 2000 has gained 5.6% in February, it still lags behind the three major averages in year-to-date returns. With just a 1.4% increase in 2024 thus far, compared to the S&P 500’s impressive 6.5% gain, the small-cap index has room to catch up.
Source: CNBC
Key movers after hours: Beyond Meat, eBay, and First Solar
2 hours ago
Several companies recorded significant after-hours moves, impacting investors. Beyond Meat experienced a remarkable 78% surge in its stock price after beating revenue estimates for the fourth quarter. The plant-based meat manufacturer reported revenue of $73.7 million, surpassing analysts’ expectations of $66.7 million.
eBay’s stock increased by 4% after the company announced a dividend raise and an additional $2 billion share buyback. The online marketplace’s fourth-quarter results exceeded market predictions, and its first-quarter earnings guidance showed strong potential.
First Solar, a prominent solar company, witnessed a gain of over 3% in after-hours trading following impressive fourth-quarter results. First Solar reported a 30% increase in net income compared to the previous year, beating earnings estimates per share.
Source: CNBC
Stock futures hold steady ahead of inflation data
2 hours ago
Stock futures remained mostly unchanged as investors directed their attention to upcoming inflation data. These market indicators hint at the likely direction of major indexes in the coming trading sessions.
Futures linked to the Dow Jones Industrial Average showed a minimal decline of 32 points, reflecting stability in the overall market. S&P 500 futures remained near the flatline, while Nasdaq 100 futures posted a slight drop.
Source: CNBC
