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
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
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
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
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
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
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
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
Lu Wang Bloomberg July 20, 2023 The table presents estimates from strategists for where the S&P 500 Index will finish 2023 and how much profit companies will generate. S&P 500 Index 2023 close 2023 EPS Average 4,202 $213 Median 4,250 $215 High 4,825 $230 Low 3,225 $185 No. of replies 23 22 Individual Estimates
Eric Wallerstein The Wall Street Journal July 11, 2023 The S&P 500 has dominated its equal-weighted counterpart since the fall of Silicon Valley Bank. That's starting to change. The S&P 500 Equal Weight Index which weights each company equally rather than by market cap has gained 6% this year. It was in negative territory as