Hiring at US Companies Tops All Forecasts, ADP Data Show
Augusta Saraiva Bloomberg June 1, 2023 Private payrolls increased by 278,000 in May, led by leisure Wage growth slowed, including for people changing jobs Employment growth at US companies last month exceeded all projections, highlighting a durable labor market that continues to buttress the economy. Private payrolls increased 278,000 following a revised 291,000 gain in April, […]
BofA Equity Indicator Sees S&P Potentially Up 16% in 12 Months
Alexandra Semenova Bloomberg June 1, 2023 A contrarian indicator from Bank of America Corp. that compiles Wall Street strategists’ allocation recommendations is the closest it has been to notching a “buy” signal since 2017. Sell-side indicator, which tracks US sell-side strategists’ recommended allocation to stocks, edges down 22 basis points to 52.5% in May, 1.1 percentage […]
Chinese Stocks Wipe Out 2023 Gains as Headwinds Intensify
Bloomberg May 23, 2023 CSI 300 extends decline as developers’ debt woes resurface Geopolitics, yuan weakness, and uneven recovery are concerns China’s benchmark stock index erased all its gains for the year as a weaker yuan and developers’ debt woes added to persistent worries over growth and geopolitics. The CSI 300 Index closed down 1.4% Wednesday, with […]
Sam Stovall says 2023 will be a bullish year, with one sector set to see large gains
Hakyung Kim CNBCJanuary 31, 2023 Employees inspect facilities at the Qingdong-5 offshore oil production platform, an artificial island, of Sinopec Shengli Oilfield on Jan. 16, 2023 in Dongying, China. CFRA chief investment strategist Sam Stovall calls energy stocks a continued smart play in what he thinks will also prove a bullish year for the broader […]
FOMO Is Understandable But Might Not Make You Money: Macro Man
Cameron Crise BloombergJanuary 24, 2023 You can almost see investors getting sucked into a vortex of bullishness and FOMO as stock prices around the world continue to rise. OK, there is the odd corrective day every now and again, but the rapid rally combined with some more favorable economic data in the likes of Europe […]
After $18 Trillion Rout, Global Stocks Face More Hurdles in 2023
Thursday, December 29, 2022 09:00 PMSource: Bloomberg by Jan-Patrick Barnert Recession, rate hikes risk spurring earnings slowdown in 2023 – Question marks remain over how Big Tech and China will fare. More tech tantrums. China’s Covid surge. And above all, no central banks riding to the rescue if things go wrong. Reeling from a record […]
Fed’s High Inflation Forecast Baffles Wall Street After Soft CPI
Asia Martin Business InsiderDecember 22, 2022 A study from Amazon economists estimates a 30% chance of a US recession in the next six months. Most other forecasts are doom and gloom, with some predicting a 100% recession chance in 2023. If there is a recession, Amazon is banking on a few factors to avoid much […]
Strategists are gloomy on 2023 corporate earnings — and S&P 500 price targets
Bob Pisani CNBCDecember 14, 2022 Once again, the direction for trading for the rest of the year is boiling down to what Fed Chair Jerome Powell says at his press conference Wednesday afternoon. Bears think Powell and Co. will hike rates by 50 basis points (half a percentage point), as expected, but then will reveal […]
Three massive market overhangs have started moving in a positive direction for investors in 24 hours
Bob Pisani CNBCNovember 11, 2022 A three-bagger? Three macro issues have dominated the stock market in the last six months: the Fed and inflation, Covid-19 lockdowns in China and the Russian invasion of Ukraine. In the last 24 hours, all three have moved in a manner beneficial to markets. Yesterday, it was signs inflation may […]
Goldman Sachs Sees ‘Very Plausible’ Path to Avoid US Recession
Alex Tanzi BloombergNovember 7, 2022 Bank maintains odds of a recession at 35% in next 12 months Average probability among Wall Street economists is at at 60% Goldman Sachs Group Inc.’s top economist said there’s still a “very plausible” path for the US economy to avoid a recession despite the Federal Reserve’s aggressive tightening of […]