JPMorgan’s Kolanovic says the globe is not headed toward recession and is very bullish energy stocks
PUBLISHED MON, MAY 9 20222:18 PM EDTUPDATED 25 MIN AGO Pippa Stevens@PIPPASTEVENS13 In this article EOG-15.10 (-11.42%) OXY-7.35 (-11.32%) Stocks tumbled Monday as global growth concerns continue to weigh on markets, but JPMorgan doesn’t see a recession on the horizon. With this in mind, the firm is doubling down on its call to buy energy stocks. “The […]
CNBC: Ron Insana says the Fed is defying logic by trying to create a recession
Below is an excellent article highlighting the alternative view of what the federal reserve should be doing today. Though the article makes good points, the Federal Reserve does have to move off of negative real rates and begin to normalize monetary policy. Federal reserve forward guidance is to normalize monetary policy, not to create a […]
JPMorgan’s Kolanovic Sees Rebound as Bearish ‘Fears Overblown’
(Bloomberg) — Monday, May 2, 2022 01:17 PM By Jessica Menton The negativity in the U.S. stock market has become so overwhelming that a rebound may not be far off, JPMorgan Chase & Co.’s strategists say. In a note to clients, analysts led by Marko Kolanovic pointed to the closely watched American Association of Individual Investors survey hitting the […]
Buffett bought more Apple last quarter and says he would have added more if the stock didn’t rebound
CNBC PUBLISHED MON, MAY 2 20228:33 AM EDT Yun Li@YUNLI626 Warren Buffett bought the dip in his No. 1 stock Apple during the tech giant’s sell-off in the first quarter. Berkshire Hathaway’s Chairman and CEO told CNBC’s Becky Quick that he scooped up $600 million worth of Apple shares following a three-day decline in the stock last quarter. Apple […]
U.S. consumer spending accelerates; wage inflation rising
By Lucia Mutikani Thomson Reuters Summary Consumer spending increases 1.1% in March PCE price index jumps 0.9%; up 6.6% year-on-year Core PCE gains 0.3%; increases 5.2% year-on-year Employment cost index surges 1.4% in first quarter WASHINGTON, April 29 (Reuters) – U.S. consumer spending rose more than expected in March amid strong demand for services, while monthly […]
The U.S. economy contracted to start the year, but a recession hardly appears imminent
PUBLISHED THU, APR 28 20221:27 PM EDT Jeff Cox Technically speaking, the negative economic growth in the first quarter looks like the U.S. is halfway down the road to recession. After all, the generally accepted definition of a recession is two consecutive quarters with a minus sign before the GDP number. A look under the […]
U.S. Economy Posts Surprise Contraction, Belying Solid Consumer
Thursday, April 28, 2022 07:22 AM By Olivia Rockema GDP declines an annualized 1.4% on huge rise in trade deficit Pace of consumer spending growth, business investment pick up (Bloomberg) — The U.S. economy shrank for the first time since 2020, reflecting an import surge tied to robust consumer demand. While the surprise contraction adds to […]
GDP Likely to Show ‘Misleading’ U.S. Weakness as Fed Plots Path
Wednesday, April 27, 2022 03:00 AM By Reade Pickert Projected 1.1% 1Q GDP growth belies solid consumer spending Income and spending report to show big impact of inflation (Bloomberg) — The U.S. economy’s latest report card — featuring fresh readouts on growth, inflation, spending and wages in the first three months of the year — […]
AmEx profit beats estimates as card spending rebounds
By Mehnaz Yasmin and Niket Nishant April 22 (Reuters) – American Express Co (AXP.N) on Friday topped first-quarter profit estimates as card spending rebounded from last year, dwarfing a jump in costs due to higher reward payouts. Expenses rose 34% to $9.06 billion on higher customer engagement costs, the company said, sending shares down nearly 2% in morning trading. […]
Amazon launches $1 billion fund to invest in warehouse technologies
POINTS Amazon on Thursday launched a $1 billion fund to invest in start-ups developing supply chain, logistics and fulfillment technologies. The first round of investments is going to a batch of companies working on technologies that can speed up deliveries and improve the safety of workers in its warehouses. In this article AMZN-67.95 (-2.21%) Robots transport […]