China’s producer price growth slows but inflationary pressures persist
China’s factory gate prices rose at a slightly slower pace in June, providing some reprieve for businesses though persistently high raw material costs are threatening to undermine the post-coronavirus economic recovery.
Economists Lift U.S. Growth Forecasts Even as Pace Set to Cool
(Bloomberg) — The U.S. economy is entering a new phase. Fueled by widespread vaccinations, government stimulus and the lifting of most Covid-19 restrictions, the economy likely expanded in the second quarter at one of the fastest paces in decades. But at some point, gross domestic product growth has to come off the boil and return […]
Inflation trajectory still uncertain
Wednesday, July 7, 2021 12:32 AM By Tom Orlik (Economist) and Björn van Roye (Economist) (Bloomberg Economics) — In the first half of 2021, frictions as the U.S. economy came back online helped push prices markedly above expectations. In 2H, growth in the U.S. is expected to stay high, and Europe, Japan and India will accelerate. With an […]
Higher inflation is among the risks facing an economic recovery according to the IMF
By Eshe Nelson (New York Times) — The U.S. economy is expected to grow 7 percent this year, the fastest pace since 1984, a speedy recovery that could raise the inflation rate, leading to other problems. Rising inflation, particularly in the United States, is among the risks facing the global economy amid a “worsening two-track […]
TRADING NATION ‘Day of reckoning’ is coming for high-flying tech stocks, Wells Fargo warns
Wells Fargo Securities’ Chris Harvey is doubling down on his Big Tech warning, saying a “day of reckoning” is ahead. He’s urging investors to take profits in light of risks associated with rising interest rates. “The premium that you’re paying is still exceptionally high,” the firm’s head of equity strategy told CNBC’s “Trading Nation” on Friday. […]
Investors see value stocks like banks leading the way in the second half, CNBC survey finds
Wall Street investors believe inexpensive and economically sensitive stocks will retake the lead in the market in the second half of 2021, according to a new CNBC survey. As a part of CNBC’s Quarterly Report, we polled about 100 chief investment officers, equity strategists, portfolio managers and CNBC contributors who manage money about where they […]
Chicago-based Nuveen says the US is nearing, or already at, “peak growth” in a new report.
Small-cap and emerging market stocks top the $1.2 trillion investment manager’s best equity ideas. Nuveen also favors value, cheap growth and ESG-first companies heading into second half of the year. Peak growth is here. Less than 18 months ago, COVID-19 represented one of the largest threats to the American economy in years. Shutdowns forced small […]
U.S. consumer confidence races to more than one-year high in June
WASHINGTON (Reuters) – U.S. consumer confidence increased in June to its highest level since the COVID-19 pandemic started more than a year ago, bolstering expectations for strong economic growth in the second quarter. The Conference Board said on Tuesday its consumer confidence index jumped to a reading of 127.3 this month, the highest level since […]
Rubin Sees ‘Material Risk’ High U.S. Inflation Will Be Enduring
Monday, June 28, 2021 10:57 AM By Saleha Mohsin Clinton-era Treasury chief praises Summers’s alarms on prices Says $1.9 trillion pandemic relief bill was ‘essential’ (Bloomberg) — Former Treasury Secretary Robert Rubin said there’s a “material risk” that the U.S. could see persistently elevated inflation and urged policy makers to be careful to avoid overheating. Rubin, who served […]
Goldman goes through second-half scenarios that could lead to a 17% S&P drop or continued rally
PUBLISHED MON, JUN 28 202112:12 PM EDTUPDATED 3 MIN AGO Yun Li@YUNLI626 In this article GS-2.64 (-0.72%) Traders on the floor of the New York Stock Exchange. Source: NYSE Halfway through 2021, the S&P 500 is back at a record and sitting just 1% below Goldman Sachs’ year-end target. The firm went through various second-half scenarios related to […]