Piper Sandler
Promising Picks
Piper Sandler, in its recent macro research report, has shared insights on the Magnificent 7, comprising Alphabet (GOOG) (GOOGL), Amazon (AMZN), Apple (AAPL), Microsoft (MSFT), Meta Platforms (META), Nvidia (NVDA), and Tesla (TSLA). According to the analysis, Piper Sandler ranks Alphabet and Meta Platforms as highly attractive, while Tesla emerges as the least favorite among the group.
Macro Select Model Insights: In constructing their analysis, Piper Sandler utilized the Macro Select Model, a dynamic long model that screens for stocks with key factor traits deemed crucial for the current market conditions. The model considers factors such as Free Cash Flow (FCF) Yield, EPS Growth, EPS Revisions, and Cash Flow Return on Equity (CF ROE).
Sell Model Overview: On the flip side, Piper Sandler employed the Sell Model to identify stocks at risk of underperforming. This model looks for stocks that exhibit multiple red flags compared to their sector peers.
Rankings and Assessments:
- Alphabet (GOOG) (GOOGL) and Meta Platforms (META): Piper Sandler ranks these tech giants as highly attractive in the current market landscape.
- Tesla (TSLA): Positioned as the least favorite among the Magnificent 7, indicating potential risks according to Piper Sandler’s analysis.
- Apple (AAPL): While not ranked as high as Alphabet and Meta Platforms, Apple is not far behind in Piper Sandler’s assessment.
- Nvidia (NVDA): Receives conflicting grades with a strong Macro Select rank but also a strong Sell Model rank. Piper Sandler notes that this indicates the stock has favorable traits but is at risk of underperforming due to several concerning red flags.
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GIFT Nifty
With a loss of 22.50 points, or 0.10 percent, the GIFT Nifty trends suggest a flat-to-negative start for the larger index in India. Around 21,443.00 was where the Nifty futures were trading at the time.
US Markets
The S&P 500 closed on Wednesday at a new high, reaching a fourth consecutive finish as advances in chipmakers were fueled by increases in ASML and Netflix, which soared after quarterly reports that were out of this world.
At 4,868.55 points at the end of the session, the S&P 500 increased by 0.08 percent.
Declining equities outpaced rising peers in the index by a ratio of 2.5 to 1, despite the S&P 500’s rise. While the Dow Jones Industrial Average fell 0.26 percent to 37,806.39 points, the Nasdaq increased 0.36 percent to 15,481.92 points.
Asian Markets
As investors evaluated South Korea’s GDP figures and as markets reacted to China’s central bank lowering reserve requirements for the nation’s lenders, Asian markets primarily declined.
Oil prices
Due to a larger-than-expected US crude storage withdrawal, a decline in US crude output, geopolitical tensions, Chinese economic stimulus, and a weaker US dollar, oil prices rose by almost 1% on Wednesday to a four-week high.
By 12:03 p.m. EST (1703 GMT), Brent futures had increased by $1.03, or 1.3 percent, to $80.58 per barrel. At $75.68, US West Texas Intermediate (WTI) crude saw an increase of $1.31, or 1.8 percent.
WTI was headed for its highest settlement since November 30 and Brent was headed for its best since December 26. Additionally, US petrol and diesel futures were on track for their best closings in weeks.
US dollar
Following advances in eight of the previous ten sessions, the US dollar fell on Wednesday as speculators booked profits sparked by a widespread reversal of the currency’s December slide.
However, reports indicated that economic activity in the greatest economy in the world increased in January and that a measure of inflation decreased, which caused the US currency to pare its losses. According to data, a measure of what businesses charge for their goods dropped to its lowest point in more than three and a half years.
Gold Prices
Even if losses were contained by a declining dollar, gold fell on Wednesday as investors anticipated further economic data to determine when the Federal Reserve could first lower interest rates.
At 2:13 p.m. ET (1913 GMT), spot gold was down 0.7 percent at $2,014.56 per ounce, heading into its weakest day in a week. US gold futures ended the day at $2,016.00, down 0.5 percent.