On CNBC’s ‘Halftime Report Final Trades,’ a segment dedicated to expert stock picks, a diverse range of financial players shared their insights.
Shannon Saccocia, representing NB Private Wealth, highlighted the iShares U.S. Financials ETF (IYF) as her final trade. This ETF tracks the performance of U.S. financial companies, providing a broad exposure to the sector.
Meanwhile, Jim Lebenthal of Cerity Partners took a closer look at Exxon Mobil Corporation (XOM), noting its strong performance with a price just 5% off its recent high. The oil giant has recently withdrawn from a bidding war to acquire half of Galp Energia’s stake in a significant oil discovery in Namibia, indicating a potential shift in strategic focus.
Stephen L. Weiss, of Short Hills Capital Partners, believes Alphabet Inc. (GOOGL, GOOG) presents a compelling opportunity due to its valuation. This view comes amidst recent scrutiny of Google’s ad tech practices by the UK’s Competition and Markets Authority (CMA).
Adding to the news flow, Joseph M. Terranova of Virtus Investment Partners pointed out that Palantir Technologies Inc. (PLTR) has been added to the prestigious S&P 500 Index. This inclusion comes after two previous rebalancing cycles where Palantir was overlooked. The inclusion is scheduled to take effect on September 23rd, marking a significant milestone for the data analytics company.
Looking at the market’s reaction, the iShares U.S. Financials ETF gained 1.2% during Monday’s trading session. Exxon Mobil shares experienced a 2.1% increase, closing at $115.01. Conversely, Alphabet shares dipped by 1.3%, ending the day at $148.71. Palantir Technologies shares soared by 14.1%, closing at $34.60, reflecting the market’s enthusiasm surrounding its S&P 500 inclusion.
This ‘Final Trades’ segment provided valuable insights into the market, highlighting potential investment opportunities and underscoring the importance of staying informed about current developments and regulatory scrutiny.
