Oil Rises With Stronger Equities on Signals of Economic Recovery
By Andres Guerra Luz U.S. equities rally, boosted by fresh China stimulus overnight WTI futures reverse losses and rise as much as 1.4% on Monday (Bloomberg) — Oil surged in lockstep with stronger equities as investors searched for signals that the economy is on the mend, boosting prospects for consumption. Equities in the U.S., Europe and Asia […]
Europe’s Fading Rebound Turns V-Shape Recovery Into Bird Wing
By William Horobin and Zoe Schneeweiss High-frequency indicators signal slowdown as virus cases gain Return to pre-virus levels of activity won’t be any time soon (Bloomberg) — The relief as economic activity surged in Europe when coronavirus lockdowns ended is giving way to renewed gloom that suggests a full recovery is a long way off. Hopes for a […]
Goldman Boosts S&P 500 Target by 20% as Strategists Catch Up
By Joanna Ossinger and Ksenia Galouchko David Kostin lifts year-end S&P 500 target to 3,600 from 3,000 JPMorgan strategists join Goldman in being bullish on U.S. (Bloomberg) — Goldman Sachs Group Inc. is the latest firm to boost its year-end price target for the S&P 500, as a relentless rally off the March lows leaves strategist predictions in […]
Homebuilder sentiment jumps to record high, but soaring lumber prices could ‘dampen momentum’
Potential buyers flooded into model homes across the nation, and that has builders feeling better about their business than at any time over the past 20 years. But rising lumber prices could sap the market’s momentum this fall. Builder confidence in the newly built, single-family home market jumped 6 points to 78 in August on […]
China’s Days as World’s Factory Are Over, IPhone Maker Says
By Debby Wu Hon Hai planning separate supply lines for the two big markets Company’s earnings outperformed expectations but warns on Q3 (Bloomberg) — A key supplier to Apple Inc. and a dozen other tech giants plans to split its supply chain between the Chinese market and the U.S., declaring that China’s time as factory to the world […]
Goldman Sachs chief equity strategist says tech is still the best long-term bet
Goldman Sachs’ chief U.S. equity strategist told CNBC on Tuesday that technology stocks still offer long-term investors the best growth potential despite a recent rotation into value-oriented names. “The idea of better growth still rests with technology,” David Kostin said on “Squawk on the Street,” adding the low-interest rate policy that is likely to persist for years in the wake of […]
U.S. Recovery Sees Some Momentum After Monthlong Stall
The latest high-frequency data suggest America’s economic recovery may finally be getting moving again after stalling for a month. Bloomberg Economics created a weekly dashboard of high-frequency, alternative and market-based data to track the economy’s plunge into recession and eventual recovery. New Covid-19 cases have decelerated by the most since the start of the pandemic […]
This number shows a stunning reversal in the chances of Main Street’s survival
The pandemic is still raging on in the U.S., yet 64% of small business owners on Main Street are confident that they can survive for more than a year under current conditions, the Q3 CNBC|SurveyMonkey Small Business Survey revealed on Monday. Surprisingly, that is nearly double the 34% that held this optimistic view when polled in April. […]
U.S. manufacturing activity near 1-1/2-year high: ISM
U.S. manufacturing activity accelerated to its highest level in nearly 1-1/2 years in July as orders increased despite a resurgence in new COVID-19 infections, which is raising fears about the sustainability of a budding economic recovery. The Institute for Supply Management (ISM) said on Monday its index of national factory activity raced to a reading […]
Earnings at the halfway mark are much better than expected
Amazon, Facebook, and Apple are only among the most recent examples of a notable trend: earnings much better than expected. The reopening story may be getting rocky, but one pleasant surprise has been earnings.