Goldman’s Kostin Says US Earnings Bar Is Set Highest Since 2021
Sagarika Jaisinghani Bloomberg July 01, 2024 Corporate America faces the highest earnings bar in almost three years as it prepares to report second-quarter results, according to Goldman Sachs Group Inc. strategists. Single-stock analysts predict profits at S&P 500 firms rose 9% on average in the April-June period — the biggest year-over-year increase since the fourth […]
US Services Activity Expands by Most in More Than Two Years
Vince Golle Bloomberg June 21, 2024 S&P Global’s flash June gauge advanced to 55.1 from 54.8 Manufacturing index also rose, while price measures cooled US services activity picked up marginally early this month to the fastest pace in more than two years while the outlook improved on cooler price pressures and prospects for lower borrowing […]
Nvidia Sales Grow So Fast That Wall Street Can’t Keep Up
Jeran Wittenstein Bloomberg June 23, 2024 Nvidia Corp. is the most expensive stock in the S&P 500 Index, with its shares trading for roughly 23 times the company’s projected sales over the next 12 months. But there’s a problem with that valuation. In the age of the artificial intelligence boom, no one can figure out […]
Can Nvidia stay at the heart of the new AI economy?
Tim Bradshaw and Michael Acton Financial Times June 21, 2024 Adam, 44, had only ever bought shares in one other company when he decided to invest in a stock called Nvidia last month after a “hot tip” from a friend. “It’s AI and clearly there’s money in that,” says Adam, who works in the hospitality […]
Cooler Inflation Tells Fed That Rates Are High Enough
The Editorial Board Bloomberg May 16, 2024 As the Federal Reserve struggles to make sense of a ceaseless flow of noisy statistics, it needs to keep one question front of mind: Is the current policy rate restrictive enough to bring inflation gently back down to the central bank’s 2% target? Right now, taken as a […]
Ships Diverted From Red Sea Send Ripple Effects Across the Globe
Brendan Murray Bloomberg June 2, 2024 Never has it been so cheap to inflict a world of economic pain. That stark point was underscored last week by Maximilian Hess, a principal at London-based Enmetena Advisory, a political risk consultancy. Speaking to a webinar of supply-chain managers, he showed a slide of a canoe-size naval drone […]
US Service Providers Chalk Up Strongest Growth in Nine Months
US Service Providers Chalk Up Strongest Growth in Nine Months ISM services PMI jumped 4.4 points in May to 53.8 Business activity posts biggest monthly gain in three years By Vince Golle Bloomberg, 06/05/2024 The US services sector expanded in May by the most in nine months, powered by the largest monthly gain in a measure […]
US REACT: April CPI Is Soft, But Details Aren’t Reassuring (2)
By Anna Wong (Economist), Stuart Paul (Economist) and Estelle Ou (Economist) Bloomberg May 15, 2024 (Bloomberg Economics) — OUR TAKE: April’s soft core CPI reading is the lowest yet this year. The good news is that we’re finally seeing disinflation in housing rents, which are on track to follow the downward path we – and probably […]
BofA’s Moynihan Says Consumers Still Strong Even With High Rates
Katherine Doherty Bloomberg MAY 13, 2024 Bank of America Corp. Chief Executive Officer Brian Moynihan said US consumers, helped by wage growth, remain in good shape even amid elevated interest rates, and that businesses are once again looking at mergers and acquisitions. Consumer spending has climbed 3% to 4% in May from a year ago, Moynihan said Monday. […]
BlackRock says now is the time to lock in higher yields and move cash into bonds
Michelle Fox CNBC MAY 3, 2024 Investors with cash on the sidelines may want to start moving some of that money into bonds, according to a new report from BlackRock. The bond market has seen some volatility amid the uncertainty around interest rates and the Federal Reserve’s monetary policy. On Friday, the 10-year Treasury yield […]