Updates – Strategy

Rising Rates Make Big Companies Even Richer

September 15th, 2023|

James Mackintosh The Wall Street Journal September 15, 2023 The amount companies earn from cash in the bank is going up even as interest costs fixed during the pandemic stand still. The Federal Reserve jacked up interest rates to slow the red-hot economy. At some of the biggest and most secure companies, the moves had the opposite

US services sector picked up in August, along with prices

September 6th, 2023|

Ann Saphir Reuters September 6, 2023  The U.S. services sector unexpectedly gained steam in August, with new orders firming and businesses paying higher prices for inputs -- potential signs of still-elevated inflation pressures. The Institute for Supply Management (ISM) said on Wednesday its non-manufacturing PMI rose to 54.5 last month, the highest reading since February

Fed Officials Set to Double Growth Forecast Amid Strong Data (1)

September 6th, 2023|

Steve Matthews Bloomberg September 6, 2023 Resilience may lead to fewer rate cuts penciled in for 2024 Separate tracker from Atlanta Fed is at 5.6% for third quarter The US economy has been looking so solid lately that Federal Reserve officials will probably need to double their projection for growth in 2023 when they publish

Strategists Scramble to Catch Up as S&P 500 Rally Rumbles On

August 30th, 2023|

Farah Elbahrawy Bloomberg August 25, 2023 Oppenheimer’s Stoltzfus raises year-end target to 4,900 Morgan Stanley’s Wilson turned less bearish on Monday There’s a shift in tone happening across Wall Street. Oppenheimer Asset Management’s Chief Investment Strategist John Stoltzfus lifted his target on the S&P 500 index to a Street high, a day after Morgan Stanley’s Michael Wilson, one of

Goldman Sees GDP, Markets Weathering Likely Government Shutdown

August 21st, 2023|

Christopher Anstey Bloomberg August 21, 2023 US federal agencies set to run out of appropriations Sept. 30 Goldman sees partisan impasse leading to temporary shutdown Goldman Sachs Group Inc. sees a short-term hit to the US economy, with a subsequent rebound, in the likely event of a federal government shutdown sometime after appropriations run out Sept. 30. “The

S&P 500 Profits Get a Lift From the Crack in King Dollar’s Reign

July 31st, 2023|

Jessica Menton Bloomberg July 29, 2023 Traders bet greenback will fall more, helping overseas sales End of Fed rate hikes adds to pressure weighing on US currency With the Federal Reserve nearing the end of its most disruptive monetary-tightening campaign in a generation, a softening US dollar is poised to boost profit growth for nearly half of

US GDP Growth Accelerates to 2.4% as Consumers Show Resilience

July 27th, 2023|

Reade Pickert Bloomberg July 27, 2023 Household spending tops estimates, business investment robust Latest data likely add to hopes that US can skirt a recession US economic growth unexpectedly picked up steam in the second quarter, boosted by stronger-than-forecast consumer spending and robust business investment. Gross domestic product rose at a 2.4% annualized rate after a

Goldman’s Kostin Says S&P 500 to Be Pricier as Laggards Catch Up

July 24th, 2023|

Ksenia Galouchko Bloomberg July 24, 2023 S&P 500’s profit multiple could hit 21 times as rally expands Easing inflation, falling bond yields could also boost stocks The S&P 500’s high valuation is reasonable and could rise further this year as laggards of the index join the surge in winners from artificial intelligence, according to Goldman Sachs Group

US Recession Becomes Closer Call as Economists Rethink Forecasts

July 21st, 2023|

Rich Miller, Molly Smith, and Sarina Yoo Bloomberg July 21, 2023 Bloomberg survey shows firmer growth through third quarter Fed’s preferred inflation gauge seen ending 2024 near 2% goal Some of the forecasters who were first out of the box to predict a US recession are starting to hedge their bets as inflation ebbs and

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