Goldman Sachs raises year-end S&P 500 forecast to highest on Wall Street because of low rates
PUBLISHED THU, AUG 5 20216:28 AM EDTUPDATED 2 HOURS AGO Hannah Miao@HANNAHMIAO_ A Wall Street sign is pictured at the New York Stock exchange (NYSE) in New York, March 9, 2020. Carlo Allegri | Reuters Goldman Sachs raised its year-end price target on the S&P 500, citing strong corporate earnings and favorable interest rates. The […]
U.S. Service Industries Expanded at a Record Pace in July
Wednesday, August 4, 2021 07:12 AM By Reade Pickert ISM measure jumps four points, topping all estimates Prices-paid index rises to highest in nearly 16 years (Bloomberg) — U.S. service providers expanded in July at the fastest pace in records dating back to 1997 as measures of business activity, new orders and employment all improved. The […]
Oppenheimer raises S&P 500 year-end forecast to the highest on Street, sees 7% gain
PUBLISHED MON, AUG 2 20217:26 AM EDTUPDATED 2 HOURS AGO Hannah Miao@HANNAHMIAO_ The Wall St. sign is seen near the New York Stock Exchange (NYSE) in New York City, May 4, 2021. Brendan McDermid | Reuters Investor demand, economic growth and continued friendly Federal Reserve policies should push the stock market ever higher to the […]
Anti-Ark ETF Plan Caps a Bad Stretch for Cathie Wood’s Funds
Monday, August 2, 2021 08:51 AM By Sam Potter and Katie Greifeld ARKK drops 8.2% in July, worst month since pandemic selloff Tuttle Capital to manage SARK, fund delivering inverse return (Bloomberg) — A new ETF designed to bet directly against Cathie Wood’s flagship fund comes not a moment too soon for her growing band of skeptics. All eight of […]
Euro-Area Reopening Boom Lifts Confidence to All-Time High
Thursday, July 29, 2021 02:00 AM By Jana Randow Sentiment gauge rose to 119 in July; median est. 118.2 Industrial confidence at record, services highest since 2007 (Bloomberg) —Confidence in the euro-area economy climbed to a record in July as business resurges following the end of coronavirus lockdowns. Factories in the 19-nation region are running at […]
US economy grows beyond pre-pandemic level.
By Sarah Chaney Cambon (Dow Jones) — U.S. gross domestic product grew at a 6.5% annual rate in the second quarter, up slightly from earlier in the year, pushing the economy’s size beyond its pre-pandemic level. The growth came as business reopenings and government aid powered a surge that is expected to gradually slow in […]
U.S. GDP rose 6.5% last quarter, well below expectations
The U.S. economy rose at a disappointing rate in the second quarter, the Commerce Department reported Thursday in a sign that the U.S. has escaped the shackles of the Covid-19 pandemic but still has more work to do. Gross domestic product, a measure of all goods and services produced during the April-to-June period, accelerated 6.5% […]
BlackRock’s Rieder says the Fed could begin tapering bond purchases in November
Rick Rieder Anjali Sundaram | CNBC BlackRock’s Rick Rieder said there’s too much liquidity in global markets and the Federal Reserve should begin tapering its bond purchases soon. Rieder, chief investment officer of global fixed income, said he expects the central bank to detail its plans to pare back its $120 billion in Treasury and mortgage […]
Fed ramps up debate over taper timing
By Nick Timiraos (Dow Jones) — Federal Reserve officials are set to accelerate deliberations at their meeting next week over how to scale back their easy-money policies amid a stronger U.S. economic recovery than they anticipated six months ago. Fed Chairman Jerome Powell has said their discussions are focusing on two important questions: When to […]
Bill Ackman still sees a massive economic boom despite the delta variant, says rates to rebound
Billionaire investor Bill Ackman said Monday that the spread of the delta variant doesn’t pose a significant threat to the economic reopening, and he sees interest rates rising on the back of the big comeback. “I hope what it does is that it motivates anyone who doesn’t get the vaccine to get the vaccine. I don’t think […]