Jeremy Siegel sees stocks rallying 10%-15% in 2023 as lower rates outweigh a mild recession
Scott Schnipper CNBCFebruary 2, 2023 Stocks can rally 10% to 15% in 2023 as investors react more to the prospect of lower interest rates in the second half of 2023 than to a relatively small decline in corporate profits this year, Wharton School of Business professor emeritus Jeremy Siegel said on CNBC’s “Squawk Box” Thursday. […]
Jobs Galore Give US Consumers Firepower to Fight Off Recession
Reade Pickert and Olivia Rockerman BloombergFebruary 4, 2023 Early 2023 numbers on jobs, services show resilient consumers Businesses from GM to United Airlines point to strong demand Don’t count the US consumer out just yet. Two sets of data out Friday raised hopes that the pullback in household spending at the end of last year […]
US Consumer Spending Ticks Up Amid Strong Wages, BofA Says
Mackenzie Hawkins BloombergFebruary 10, 2023 Card spending rose 5.1% in January from a year earlier Households benefit from minimum wage, Social Security boosts Consumer spending ticked up at the start of the 2023 in the US, reversing declines late last year and suggesting that even lower-income families have some cash buffers to fall back on, […]
US Service Gauge Tops Estimates in Biggest Advance Since 2020
Reade Pickert BloombergFebruary 3, 2023 ISM index rebounds with six-point gain in January to 55.2 Orders measure matches highest since beginning of 2022 A gauge of US services snapped back in January after an end-of-2022 slump, suggesting a consumer demand resurgence that leans against concerns of an imminent economic slowdown. The Institute for Supply Management’s non-manufacturing […]
US Job Openings Surge Past 11 Million as Fed Zeros In on Labor
Molly Smith BloombergFebruary 1, 2023 December increase in vacancies led by leisure and hospitality Ratio of openings to unemployed climbed to near-record 1.9 Vacancies at US employers unexpectedly increased at the end of 2022, illustrating a solid appetite for labor that the Federal Reserve sees as one of the last hurdles to bring down inflation. […]
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 […]
US Business Activity Shrinks for Seventh Month, Prices Rise
Augusta Saraiva BloombergJanuary 24, 2023 S&P Global composite measure at 46.6 in January after 45 Composite prices paid gauge firms for first time since May US business activity contracted for a seventh month, though at a more moderate pace, while a measure of input prices firmed in a sign of lingering inflationary pressures. The S&P […]
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 […]
BlackRock, Fidelity Warn Inflation Is Being Underestimated Again
Tuesday, January 10, 2023 12:00 AMSource: Bloomberg by Eva Szalay Some of the world’s largest asset managers such as BlackRock Inc., Fidelity Investments and Carmignac are warning markets are underestimating both inflation and the ultimate peak of US rates, just like a year ago. The stakes are immense after (During 2022) Wall Street almost unanimously […]