U.S. manufacturing sector index races to 37-year high in March
A measure of U.S. manufacturing activity soared to its highest level in more than 37 years in March, driven by strong growth in new orders, the clearest sign yet that a much anticipated economic boom was probably underway. The Institute for Supply Management (ISM) said on Thursday its index of national factory activity jumped to […]
The economy is expected to boom in the second quarter, and that’s good news for stocks
The nation’s economic growth is in for a boost in the second quarter, as parts of the economy most impacted by the pandemic reopen. Never before has the service sector led the U.S. into a recession or so many trillions of dollars in stimulus have been applied. But with more Americans vaccinated and more states reopening activities, the […]
UBS upgrades Apple to a buy — here are the 3 reasons why
LONDON — UBS on Wednesday upgraded Apple stock to a buy rating and raised its price target from $115 to $142 per share. Apple shares closed Tuesday’s session at $119.90, down 9.64% year to date, with Big Tech having taken the brunt of the market jitters on rising bond yields. In a new research note, UBS gave three fundamental reasons […]
Biden infrastructure plan seeks hundreds of billions to beef up America’s tech prowess
President Joe Biden wants to dramatically expand internet access to Americans with a $100 billion investment as part of his new $2 trillion infrastructure plan unveiled on Wednesday. The proposal also includes investments in the electric vehicle market, which the Biden plan bills as a job creator, and in research and development programs. The plan seeks to […]
JPMorgan names Amazon a top pick, estimates 45% rally in the next 12 months
PUBLISHED MON, MAR 29 202110:17 AM EDTUPDATED MON, MAR 29 202110:21 AM EDT Maggie Fitzgerald@MKMFITZGERALD Amazon CEO Jeff Bezos Alex Wong | Getty Images JPMorgan just named Amazon a top pick for 2021, expecting the e-commerce giant to rally nearly 45% in the next year. The Wall Street firm — which has an overweight rating […]
Fed Keeps Zero-Rate Outlook, Sees Inflation Bump Short-Lived
Wednesday, March 17, 2021 12:09 PM By Craig Torres and Matthew Boesler Central bank sees inflation settling back after jump this year Seven officials see higher rates in 2023, up from five before (Bloomberg) — Federal Reserve officials continued to project near-zero interest rates at least through 2023 despite upgrading their U.S. economic outlook and the mounting inflation […]
China exports surged late last year as consumer recovery picked up steam in U.S., other nations
The economic recovery in the United States and other wealthy nations helped China’s exports bounce back in a big way last year, according to new research. Asia’s share of global exports increased in the third and fourth quarters last year, due mainly to China, while the export share of North American nations didn’t recover, according […]
PayPal Sees No Letup for Online Shopping Even With Reopenings
Monday, March 15, 2021 12:50 PM By Jenny Surane ‘Business will forever be changed,’ CEO Dan Schulman says Tech giant on pace to process $1 trillion a year in payments (Bloomberg) — PayPal Holdings Inc. said there’s been no slowdown in online shopping even as cities around the world begin to reopen. “Even as people get vaccines […]
Apple is a ‘best idea’ pick that can rally up to 86% as tech stocks rebound, Wedbush says
By Ben WinckMarch 10, 2021 Wedbush named Apple one of its “best ideas” stocks after recent selling set up a “great entry point.” Strong quarterly figures and demand in Asia can lift shares even as investors shift to value names, analyst Dan Ives said. The firm holds a bull-case price target of $225, implying an […]
Investors should buy the dips in growth stocks because inflation is ‘well-contained,’ according to BofA
Investors should buy the dip in growth stocks and sell the rip in value stocks, according to a Wednesday note from Bank of America. The bank believes inflation is “well-contained” and any spikes in rising prices will be temporary. “In the reopening period to come, inflation spikes and market overshoots in value stocks could present […]