B of A’s Moynihan Says Consumers Are Holding Up as Rates Rise
Wednesday, April 20, 2022 10:36 AM Source: Bloomberg, Katherine Doherty The U.S. consumer is holding up well as inflation rises and interest rates climb, Bank of America Corp. Chief Executive Officer Brian Moynihan said. “There is a lot of dry powder on the consumer side,” Moynihan said in a Bloomberg TV interview with David Westin Wednesday. Account balances are rising and […]
BofA Says Consumer Spending Remains Resilient Despite Inflation
Thursday, July 7, 2022 06:44 AM Source: Bloomberg, Katherine Doherty Bank of America Corp. said customer spending continues to show signs of resilience despite surging inflation, with pent-up demand for travel and leisure countering rising gas prices and other increased costs.Spending on credit and debit cards was up 11% from a year earlier in June, compared […]
Big Tech Remains a Favorite Among Retail Investors: Vanda
Source: Bloomberg by Ryan Vlastelica Wednesday, July 6, 2022 10:06 AM Major US technology and internet stocks have been pressured throughout 2022, but the group continues to be a popular choice among retail investors, according to Vanda Research. Vanda names Advanced Micro Devices, Nvidia, and the FAANGMT group — a reference to Facebook-parent Meta Platform, Apple, […]
Data Offer Relatively Little Support for Recession Fears
Source: Bloomberg economics Cameron Crise, today 7:11:09 AM Recession fears can be put to one side, for today at least, as both the JOLTS and services ISM came out better than expected. The JOLTS figure showed 11.25 million job openings, down from an upwardly-revised 11.68 million. The figures do look like they are off the […]
If the U.S. is in a Recession, It’s a Very Strange One – Economic output is down but the job market is strong, unlike in previous recessions The first half of 2022 looks like a ‘jobful’ downturn, in which output fell and companies kept hiring.
Source: Jon Hilsenrath WSJ July 4, 2022 11:21 am ET The U.S. economy has experienced 12 recessions since World War II, and each one included two features: Economic output contracted and unemployment rose. Today, something highly unusual is happening. Economic output fell in the first quarter and signs suggest it did so again in the […]
U.S. factory orders rise more than expected in May
Source: Reuters July 5, 20227:59 AM PDT New orders for U.S.-manufactured goods increased more than expected in May, bucking a slew of recent data showing a softening in the economy and underscoring that demand for products remains strong even as the Federal Reserve aggressively tightens financial conditions. The Commerce Department said on Tuesday that factory […]
Top Wall Street strategists see the stock market recouping most of its losses into the year-end
PUBLISHED MON, JUL 4 20228:17 AM Source: CNBC by Yun Li After a brutal first half, strategists from major Wall Street firms see stocks regaining most of the ground they lost into the year-end. The S&P 500 is expected to finish the year around 4,627, more than 20% higher from Friday’s level, according to the average year-end […]
New York Fed President John Williams says a U.S. recession is not his base case
PUBLISHED TUE, JUN 28 20228:43 AM EDTUPDATED TUE, JUN 28 20221:12 PM EDT Source: CNBC Jeff Cox New York Federal Reserve President John Williams told CNBC the economy is likely to avoid recession even with higher interest rates. The Fed has been raising rates to control inflation, and Williams said that will continue as “we’re […]
Supply chain pressures have ‘eased significantly’ and inflation could be next: Morning Brief
Published Friday, July 1, 2022 Source: Contributor, Sam Ro Today’s newsletter is by Sam Ro, the author of TKer.co. Follow him on Twitter at @SamRo. On Thursday, we learned the Fed’s preferred inflation measure — core PCE — moderated in May, rising 4.7% over the prior month and marking the third-straight month of moderating price […]
JPMorgan says investors are too worried about Apple, sees 40% rebound before year-end
PUBLISHED FRI, JUL 1 20226:44 AM EDT Source: CNBC Sarah Min Apple may be dealing with lower consumer demand and growing FX challenges, but JPMorgan is “not as worried” about the tech company as investors. Analyst Samik Chatterjee reiterated an overweight rating on Apple, saying in a Friday note that the tech company will remain […]