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New York CNN —Big Tech earnings are here, and investors are hoping they don’t wreck the good vibes on Wall Street. Three giant tech earnings reports this week — Microsoft (MSFT), Tesla (TSLA)and Intel (INTC) — could change that. In the year-ago quarter, earnings were $2.48 per share on $51.73 billion in revenue. Still, Wall Street expects Tesla’s earnings to grow, if not at the explosive pace of the past few years. Analysts at Goldman Sachs predict that tech growth will slow to 9% between 2021 and 2024 while the sales growth of the overall S&P 500 reaches 7%.
New York CNN —For the first time since the early days of the pandemic, most business economists expect their companies to cut payrolls in the coming months, according to a new survey released Monday. Just 12% of economists surveyed by the National Association for Business Economics (NABE) anticipate employment will increase at their firms over the next three months, down from 22% this fall. The share of economists expecting payrolls will decline at their companies ticked up to 19%, according to the survey, which was conducted January 4 to January 11. NABE said this is the first time since 2020 that more respondents anticipate shrinking, rather than growing, employment at their firms. The survey found that slightly more than half of the business economists who responded peg the risk of a recession over the next year at 50% or higher, with the biggest risks including higher interest rates and costs.
Revised third-quarter GDP up 3.2% compared with prior 2.9%
  + stars: | 2022-12-22 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRevised third-quarter GDP up 3.2% compared with prior 2.9%Allison Schrager, Manhattan Institute senior fellow, Julia Coronado, president and founder of Macropolicy Perspectives, and CNBC's Rick Santelli and Steve Liesman join 'Squawk Box' to discuss the revised third-quarter GDP data and more.
The Net Rising Index (NRI) for sales — the percentage of survey respondents reporting rising sales minus the percentage reporting falling sales — peaked at 74% of firms in April 2021. Zoom In Icon Arrows pointing outwardsThe NABE data has both good and bad news for the Fed and companies. "They are still raising wages and still trying to pass along the higher costs," Coronado said. Sixty-nine percent of respondents to the NABE survey indicated all or some costs are being passed on. … You don't just keep raising rates until the economy cracks," Coronado said of the NABE data.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed's already demonstrated willingness to take extreme action, says Macropolicy Perspectives' CoronadoMacropolicy Perspectives' Julia Coronado joins 'Closing Bell' to discuss upcoming Fed action predictions, which data will inform the Fed's December decision and the mounting concerns against Fed policy.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe need to see consumer price sensitivity again, says MacroPolicy Perspectives founderJulia Coronado, president and founder of MacroPolicy Perspectives, and CNBC's Steve Liesman join 'Squawk Box' to discuss the forthcoming consumer price index report and what it could mean for the Federal Reserve's efforts to combat inflation.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIf the U.S. goes into recession, the entire global economy goes into recession, says Julia CoronadoJulia Coronado, founder of MacroPolicy perspectives, and Greg IP, Wall Street Journal chief economics commentator, join 'Squawk Box' to discuss whether developed nations' economies are affecting the global economy and more.
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