TSMC Sales Soar 44% in Another Sign of Resilient Tech Demand
Thursday, July 7, 2022 11:48 PM Source: Bloomberg: Debby Wu Taiwan Semiconductor Manufacturing Co. reported better-than-expected quarterly revenue, providing another signal that electronics demand is holding up better than feared. The world’s largest contract chipmaker booked NT$534.1 billion ($17.9 billion) of revenue for the second quarter, according to Bloomberg’s calculations, compared with the average analysts’ estimate of NT$519 […]
US Labor Market Shows No Signs of an Imminent Recession
Thursday, July 7, 2022 03:00 AM Source: Bloomberg, Coner Sen Checking in on the health of the economy used to mean a quick glance at a handful of indicators: unemployment and inflation rates, a couple quarters of gross domestic product growth, housing market sales, maybe the recent performance of the stock market. That approach isn’t as […]
Ned Davis Gets Bullish as Inflation Outlook Cools: Taking Stock
Tuesday, July 5, 2022 05:52 AM Source: Bloomberg, Elena Popina Days after this year’s selloff began, Ned Davis Research scrapped its bullish outlook on US equities. After the worst start to a year in half a century, the firm is bringing it back. A recent pullback in commodity prices could bring inflation down and tame the Federal […]
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 […]