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    • Market Bull Run is Not Over (Yet): Barry Ritholtz

      The stock market may finally be paying attention to market fundamentals, primarily the slowing global economy, from China and Japan in the East to Europe and the U.S. in the West.

      Stocks have fallen for the past four out of five sessions. The S&P 500 (^GSPC) closed Thursday at 1,542, or 3% below its record high of just under 1,600, reached a week ago. The Dow Jones Industrial Average (^DJI) also ended lower Thursday, at 14,537, down 2% from its record high of 14,865.

      The recent decline in the stock market begs the question: Is the rally over or is this simply a correction in a bigger bull market?

      The Daily Ticker put the question to Barry Ritholtz, the CEO and director of Equity Research at Fusion IQ. His answer essentially: not yet.

      Related: U.S. Stock Market is 'Overvalued, Overbought and Overbullish': John Hussman

      “This bull run will eventually end…[and] the best way to handle that trade is to wait for the market to tell you the run is over,” says Ritholtz. But it hasn’t said that

      Read More »from Market Bull Run is Not Over (Yet): Barry Ritholtz
    • Apple’s (AAPL) stock has been in free-fall over the last few months, shedding 42% of its value after reaching an all-time high of $705.07 last September. Shares were falling hard again Thursday and could end the trading day below $400 a share -- the first time since December 2011. (Update: Apple shares closed down 2.6% at $392.18 after breaking $390 intraday. Nearly 23 million shares traded vs. the average of 17.4 million in the prior three months).

      Wall Street analysts have also changed their tune on the iPhone maker. When the stock was exploding to new highs last year, analysts were clamoring to declare new price targets. One would be forgiven to assume a “who is the biggest Apple bull?" competition was taking place during this heady time.

      Now, estimates have been reconfigured and reevaluated to reflect a grim reality: the company’s rapid hot growth is cooling, new product announcements are ebbing and Apple’s celebrated “cool” factor may be over. Some people are even comparing Apple

      Read More »from Apple Shares Slump Below $400 But This Isn’t Microsoft, Ritholtz Says
    • It’s a big reporting season right now, not just for corporate earnings, but also for disclosure of political contributions.

      “It’s almost like an earnings report but they all come in on the same day,” says Kent Cooper, editor of Roll Call’s new Political Moneyline blog which tracks Federal Election Commission disclosures. “Most of your candidates, PACs of companies, and trade associations report on a quarterly basis where they are raising money and how they’re spending it, [and] who is contributing it.”

      Related: There’s No Money for the President’s Economic Proposals: Fmr. CBO Dir. Douglas Holtz-Eakin

      Cooper has been combing through FEC documents to follow the money. He talked to The Daily Ticker about some of his most interesting and salacious recent findings in the accompanying video.

      Here are a few:

      • Defense Contractors like Lockheed Martin (LMT) and Honeywell (HON) have stepped up spending (note: these companies also conduct non-defense business with the government). The Lockheed
      Read More »from It’s Earnings Season for Tracking Money in Politics, and the Winners Are…
    • Forget Wealth Management, 2013 Is the Year of the Investment Bank: Hintz

      Morgan Stanley (MS) Thursday joined the ranks of banks exceeding expectations for first quarter earnings. Excluding special charges, the firm posted a profit of $1.2 billion or 61 cents a share—above analysts’ expectations of 57 cents.

      Brad Hintz, banking analyst at Sanford C. Bernstein & Co., says Morgan Stanley’s earnings show “very good operating performance in Q1,” beating on revenues, cutting expenses and meeting margin targets in wealth management.

      Still, Morgan Stanley CEO James Gorman might want to hold off on celebrating this good earnings news.

      At market open, Morgan Stanley shares were trading 4% below Wednesday’s close--a decline much larger than the overall market's. Investors may be worried about the company's future.

      The firm has shifted its focus from investment banking and trading to wealth management, which yielded a record pre-tax profit and underpinned the firm’s stronger first quarter earnings. But the wealth management business in general “probably isn’t going to

      Read More »from Forget Wealth Management, 2013 Is the Year of the Investment Bank: Hintz

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