Monday, August 9, 2021 06:26 AM By Bill Dudley (Bloomberg Opinion) — See if you can figure out which of these data points conflicts with the others: The U.S. economy grew at an annualized, inflation-adjusted rate of 6.5% last quarter; it added an estimated 850,000 jobs last month; consumer prices have risen 5% over the past […]

6:46:59 AM Wall Street strategists are making increasingly optimistic predictions for the S&P 500 Index, which closed Thursday at 4,429.10. Goldman Sachs’s David Kostin is now calling for 4,900 at the end of next year. Yardeni Research Inc.’s Edward Yardeni is targeting 5,000. Leuthold Group’s Jim Paulsen is looking out further, to 2025, and seeing […]

Starting next week, General Motors is again halting the assembly lines of several pickup truck plants because the company doesn’t have enough computer chips. The plants had been back up and running for just a week following a shutdown in July, which was also caused by the chip shortage. These production halts may not stop anytime soon. […]

Thursday, August 5, 2021 01:57 PM By Craig Torres and Laura Davison (Bloomberg) — Senator Joe Manchin, the West Virginia Democrat, urged Federal Reserve Chair Jerome Powell to start pulling back on its $120 billion in monthly bond purchases aimed at providing stimulus to the economy by lowering borrowing costs. “I am deeply concerned that the continuing stimulus put forth by […]

8:50:12 AM Sectors linked to post-pandemic reopening — energy, real estate and financials — are leading the S&P 500 higher this year. But tech may take over, with margin growth in focus for investors concerned about cost inputs and slowing economic growth. Tech is viewed as generally more likely to weather inflation than other industries that need to […]

PUBLISHED THU, AUG 5 20216:28 AM EDTUPDATED 2 HOURS AGO Hannah Miao@HANNAHMIAO_ A Wall Street sign is pictured at the New York Stock exchange (NYSE) in New York, March 9, 2020. Carlo Allegri | Reuters Goldman Sachs raised its year-end price target on the S&P 500, citing strong corporate earnings and favorable interest rates. The […]

Wednesday, August 4, 2021 07:12 AM By Reade Pickert ISM measure jumps four points, topping all estimates Prices-paid index rises to highest in nearly 16 years (Bloomberg) — U.S. service providers expanded in July at the fastest pace in records dating back to 1997 as measures of business activity, new orders and employment all improved. The […]

PUBLISHED MON, AUG 2 20217:26 AM EDTUPDATED 2 HOURS AGO Hannah Miao@HANNAHMIAO_ The Wall St. sign is seen near the New York Stock Exchange (NYSE) in New York City, May 4, 2021. Brendan McDermid | Reuters Investor demand, economic growth and continued friendly Federal Reserve policies should push the stock market ever higher to the […]

Monday, August 2, 2021 08:51 AM By Sam Potter and Katie Greifeld ARKK drops 8.2% in July, worst month since pandemic selloff Tuttle Capital to manage SARK, fund delivering inverse return (Bloomberg) — A new ETF designed to bet directly against Cathie Wood’s flagship fund comes not a moment too soon for her growing band of skeptics. All eight of […]

Thursday, July 29, 2021 02:00 AM By Jana Randow Sentiment gauge rose to 119 in July; median est. 118.2 Industrial confidence at record, services highest since 2007 (Bloomberg) —Confidence in the euro-area economy climbed to a record in July as business resurges following the end of coronavirus lockdowns. Factories in the 19-nation region are running at […]