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 […]
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 […]
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 […]
Bullish Stocks Narrative Seen as Intact After US Inflation Data
Isabelle Lee Bloomberg March 29, 2024 Inflation view won’t shift, Richard Bernstein Advisors says Mismatch between spending and income is worrying, Sosnick says A cooldown in the Federal Reserve’s preferred gauge of underlying inflation last month, coupled with a rebound in household spending, failed to shift the Wall Street consensus that has lifted stocks to records in […]
US Consumer Sentiment Jumps to Highest Level Since July 2021
Vince Golle Bloomberg March 28, 2024 US consumer sentiment rose markedly toward the end of March, supported by strong stock-market gains and expectations that inflation will continue to ease. The University of Michigan’s sentiment index climbed to 79.4 from 76.5 earlier in the month, reaching the highest since mid-2021, according to the final March reading […]
Fed’s Preferred Inflation Metric Cools While Spending Rebounds
Augusta Saraiva Bloomberg March 29, 2024 The Federal Reserve’s preferred gauge of underlying inflation cooled last month while household spending rebounded. The so-called core personal consumption expenditures price index, which strips out the volatile food and energy components, increased 0.3% from the prior month, data out Friday showed. That followed a 0.5% reading in January, marking the […]
Wall Street optimism on stocks is at its highest level since early 2022, BofA survey shows
PUBLISHED TUE, MAR 19 202412:18 PM EDT Jeff Cox@JEFF.COX.7528@JEFFCOXCNBCCOM A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 5, 2024. Brendan Mcdermid | Reuters Risk appetite among professional investors in March has hit its highest level in more than two years, according to Bank of […]
CEO of Hapag-Lloyd, one of world’s top ocean shippers, says the outlook has changed for the global economy
Lori Ann LaRocco Bloomberg March 15, 2024 The CEO of Hapag-Lloyd tells CNBC inventories are depleted in many cases and the ocean carrier has seen a recovery after Chinese New Year. Due to the ongoing Houthi attack issues in the Red Sea and Panama Canal drought, U.S. companies are paying more for ocean freight, with […]