Goldman says sell-off is a buying opportunity for these stocks with healthy balance sheets
Yun Li Reuters October 30, 2023 The recent sharp drawdown in stocks presents a buying opportunity for those stocks that are positioned to withstand a double whammy of higher interest rates and an economic slowdown, according to Goldman Sachs. “Although we expect headwinds to discount rates and balance sheets to persist, we would view a […]
A Recession Is No Longer the Consensus
In WSJ survey, economists lower recession probability below 50% and say Fed is finished raising interest rates Harriet Torry and Anthony DeBarros The Wall Street Journal October 15, 2023 Economists are turning optimistic on the U.S. economy. They now think it will skirt a recession, the Federal Reserve is done raising interest rates and inflation will continue […]
Wall Street Is Marking Up Forecasts as Profit Downturn Nears End
Jessica Menton Bloomberg October 11, 2023 Strongest upward revisions ahead of earnings since early 2022 Shows hopes for ‘Goldilocks scenario’ after Fed’s rate hikes Wall Street analysts are boosting US earnings forecasts even before results start rolling in, signaling that the worst of the profit slump is likely over as ebbing inflation eases the pressure […]
Bank of America raises year-end S&P 500 price target, says rally will broaden out from here
Sarah Min Bloomberg September 20, 2023 Bank of America’s Savita Subramanian raised her 2023 year-end S&P 500 price target to 4,600, saying the rally will broaden out from here. The equity and quant strategist increased her S&P 500 target to 4,600 from 4,300 — placing it among the higher forecasts in CNBC’s Market Strategist survey. The […]
Rising Rates Make Big Companies Even Richer
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
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)
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
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
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
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 […]