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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNext year will provide opportunity for mid caps and the financials: Goldman's Wilson-ElizondoAlexandra Wilson-Elizondo, Goldman Sachs Asset Management co-CIO of multi-asset solutions, joins 'Squawk Box' to discuss if animal spirits from the election are rippling through the markets, how many variables there are in the new political environment, and much more.
Persons: Goldman's Wilson, Elizondo Alexandra Wilson, Elizondo, Goldman Organizations: Management
Of those, 485 UAP reports occurred within that reporting period, and another 272 occurred between 2021 and 2022 but hadn't been included in previous annual UAP reports. Overall, the AARO has received 1,652 UAP reports total as of Oct. 24, 2024. “It is important to underscore that, to date, AARO has discovered no evidence of extraterrestrial beings, activity or technology,” the report said. Of the UAP reports, 81 originated from U.S. military operating areas. Of the new reports, 392 were from the Federal Aviation Administration and make up all of the FAA’s UAP reports since 2021.
Persons: UAPs, hadn't, , AARO, Jon Kosloski, ” Kosloski, ” Luis Elizondo, ” Elizondo, Robert Garcia, Garcia, Tim Gallaudet, , Jon T, Kosloski, it’ll, “ AARO Organizations: Pentagon, Defense, Defense Department, National Intelligence, UAP, U.S . Navy, Ocean, Consulting, Federal Aviation Administration Locations: Congress, U.S, Cape Canaveral , Florida
Goldman Sachs on Thursday promoted 95 executives to its partnership. AdvertisementDavid Solomon, CEO of Goldman Sachs. The average tenure of the partner class is 16 years at Goldman Sachs. Marine Abiad, Global Banking & Markets, ParisBenny Adler, Global Banking & Markets, New YorkAdvertisementShahzad Ali, Controllers, New YorkAsh Ang, Global Banking & Markets, SingaporeLucia Arienti, Global Banking & Markets, LondonMatthew Armas, Asset & Wealth Management, New YorkAdvertisementPatrick Armstrong, Asset & Wealth Management, New YorkSebastian Ayton, Global Banking & Markets, ParisAmitayush Bahri, Asset & Wealth Management, LondonRob Barlick Jr, Asset & Wealth Management, MiamiAdvertisementDavid Bear, Global Banking & Markets, New YorkAmanda Beisel, Controllers, New YorkJeff Bernstein, Asset & Wealth Management, New YorkLyla Bibi, Global Banking & Markets, New YorkAdvertisementAnne Bizien, Global Banking & Markets, ParisTristan Blood, Asset & Wealth Management, LondonBrittany Boals Moeller, Asset & Wealth Management, AtlantaMarc Boheim, Asset & Wealth Management, LondonAdvertisementChris Bonner, Global Banking & Markets, New YorkKevin Boova, Global Banking & Markets, New YorkRelated storiesOonagh Bradley, Compliance, LondonTimothy Braude, Asset & Wealth Management, New YorkAdvertisementSteven Budig, Asset & Wealth Management, New YorkJacqueline Cassidy, Global Banking & Markets, New YorkSorubh Chandani, Asset & Wealth Management, New YorkPamela Codo-Lotti, Global Banking & Markets, New YorkAdvertisementBracha Cohen, Asset & Wealth Management, New YorkShaun Cullinan, Asset & Wealth Management, New YorkMarc d'Andlau, Global Banking & Markets, ParisAdam Davis, Global Banking & Markets, New YorkAdvertisementMatthew Doherty, Asset & Wealth Management, New YorkJason Eisenstadt, Global Banking & Markets, New YorkAshley Everett, Global Banking & Markets, New YorkAlex Finston, Global Banking & Markets, New YorkAdvertisementAlison Flood, Global Banking & Markets, New YorkArvind Giridhar, Global Banking & Markets, New YorkAshwin Gupta, Asset & Wealth Management, New YorkSonia Gupta, Global Banking & Markets, San FranciscoAdvertisementTerry Hagerty, Global Banking & Markets, New YorkRobert Hamilton Kelly, Asset & Wealth Management, West Palm BeachAxel Hoefer, Global Banking & Markets, FrankfurtDylan Hogarty, Global Banking & Markets, New YorkAdvertisementTim Holliday, Corporate Treasury, LondonKazuya Iketani, Global Banking & Markets, TokyoSumedh Jaiswal, Global Banking & Markets, LondonKyle Jessen, Global Banking & Markets, San FranciscoAdvertisementLotfi Karoui, Global Investment Research, New YorkFeroz Khosla, Global Banking & Markets, New YorkLarry Kleinman, Tax, New YorkJared Klyman, Asset & Wealth Management, New YorkAdvertisementDaniel Korich, Global Banking & Markets, New YorkRebecca Kruger, Global Banking & Markets, New YorkKosuke Kurosawa, Global Banking & Markets, TokyoShane Lee, Global Banking & Markets, CalgaryAdvertisementMichael Leister, Global Banking & Markets, New YorkMatthew Leskowitz, Global Banking & Markets, New YorkHilary Lopez, Asset & Wealth Management, LondonCedric Lucas, Asset & Wealth Management, New YorkAdvertisementMazen Makarem, Global Banking & Markets, New YorkMatthew Mason, Global Banking & Markets, Hong KongJans Meckel, Global Banking & Markets, ParisPatrick Moran, Legal, New YorkAdvertisementLeonie Morel, Global Banking & Markets, LondonJohn O'Connor, Global Banking & Markets, New YorkSteve Orr, Global Banking & Markets, New YorkLeke Osinubi, Engineering Division, New YorkAdvertisementElizabeth Overbay, Platform Solutions, New YorkJonathan Perry, Engineering Division, LondonThomas Plank, Global Banking & Markets, SingaporeCaitlin Pollak, Global Banking & Markets, New YorkAdvertisementLing Pong, Asset & Wealth Management, Hong KongJoe Porter, Global Banking & Markets, San FranciscoVishaal Rana, Global Banking & Markets, New YorkAlexandre Reinert, Global Banking & Markets, Hong KongAdvertisementMonique Rollins, Corporate Treasury, New YorkMarcos Rosenberg, Asset & Wealth Management, RichardsonMarc Schaffer, Global Banking & Markets, New YorkJan Scheffel, Global Banking & Markets, LondonAdvertisementRahul Sharma, Engineering Division, Menlo ParkEric Sheridan, Global Investment Research, New YorkSalil Sheth, Global Banking & Markets, New YorkJonathan Shugar, Global Banking & Markets, New YorkAdvertisementAlyson Shupe, Asset & Wealth Management, New YorkAaron Siegel, Global Banking & Markets, New YorkAdam Siegler, Global Banking & Markets, New YorkCraig Smart, Global Banking & Markets, New YorkAdvertisementAndre Souza, Global Banking & Markets, LondonThom Spoto, Asset & Wealth Management, West Palm BeachLesley Steele, Risk, LondonTeppei Takanabe, Global Banking & Markets, TokyoAdvertisementLaura van Alkemade, Global Banking & Markets, LondonDennis Walsh, Asset & Wealth Management, New YorkAlexandra Wilson-Elizondo, Asset & Wealth Management, New YorkSylvia Yeh, Asset & Wealth Management, New
Persons: Goldman Sachs, David Solomon, , Solomon, John Waldron, Goldman, Michael Kovac, Beth Hammack, Stephanie Cohen, Katie Koch, Paris Benny Adler, Shahzad Ali, York Ash Ang, Singapore Lucia Arienti, London Matthew Armas, Patrick Armstrong, New York Sebastian Ayton, Paris Amitayush, London Rob Barlick Jr, David Bear, New York Amanda Beisel, Jeff Bernstein, New York Lyla Bibi, Anne Bizien, Tristan Blood, London Brittany Boals Moeller, Atlanta Marc Boheim, Chris Bonner, New York Kevin Boova, Oonagh Bradley, Timothy Braude, Steven Budig, Jacqueline Cassidy, New York Sorubh, New York Pamela Codo, Bracha Cohen, Shaun Cullinan, New York Marc d'Andlau, Paris Adam Davis, Matthew Doherty, New York Jason Eisenstadt, New York Ashley Everett, New York Alex Finston, Alison Flood, New York Arvind Giridhar, Ashwin Gupta, New York Sonia Gupta, Terry Hagerty, New York Robert Hamilton Kelly, Beach Axel Hoefer, Frankfurt Dylan Hogarty, Tim Holliday, London Kazuya Iketani, Kyle Jessen, Lotfi, New York Feroz Khosla, New York Larry Kleinman, New York Jared Klyman, Daniel Korich, New York Rebecca Kruger, New York Kosuke Kurosawa, Tokyo Shane Lee, Michael Leister, New York Matthew Leskowitz, New York Hilary Lopez, London Cedric Lucas, Mazen, New York Matthew Mason, Hong Kong Jans, Paris Patrick Moran, Leonie Morel, London John O'Connor, Steve Orr, New York Leke, Elizabeth Overbay, New York Jonathan Perry, Thomas Plank, Singapore Caitlin Pollak, Ling, Hong Kong Joe Porter, San Francisco Vishaal Rana, New York Alexandre Reinert, Monique Rollins, New York Marcos Rosenberg, Richardson Marc Schaffer, New York Jan Scheffel, Rahul Sharma, Eric Sheridan, New York Salil, New York Jonathan Shugar, Alyson, Aaron Siegel, New York Adam Siegler, New York Craig Smart, Andre Souza, London Thom Spoto, Palm Beach Lesley Steele, Laura van Alkemade, London Dennis Walsh, New York Alexandra Wilson, New York Sylvia Yeh, Piotr Zurawski, Emmalyse Brownstein, Reed Alexander Organizations: Service, Goldman, Business, Wall Street, Global Banking, Markets, Paris, New, Wealth Management, Asset, London, Atlanta, Compliance, San, Beach, Frankfurt, Corporate Treasury, Global Investment Research, Hong, Engineering Division, Solutions, Engineering, Menlo, Palm Beach Locations: Wall, New York, York, Singapore, London, Paris, Paris Amitayush Bahri, Miami, New, San Francisco, Tokyo, Calgary, Hong Kong
CNN —Robert “Boo Lee” Williams was still seething days after a popular basketball coach and two assistant principals at Houston’s first two historically Black high schools were arrested in an alleged teacher certification scheme. “In fact, when he was caught red-handed in February of 2024 he was logged into one test,” Levine said. A pattern of long drives helps unravel schemeHarris County District Attorney Kim Ogg, left, and felony chief prosecutor Mike Levine announce arrests in teacher certification scheme. They then drove sometimes four or more hours to the Houston area and suddenly they were passing the test,” Levine said. “This ain’t just a Black school in Houston.
Persons: Robert “ Boo Lee ” Williams, , Williams, Jack Yates, … I’m, Kim Ogg, , Vincent Grayson, Booker T, Nicholas Newton, LaShonda Roberts, Yates, Ogg, ” Ogg, Tywana Gilford Mason, Gilford Mason, Grayson, Black, Cheryl Irvin, Irwin, It’s, Mike Levine, ” Levine, Levine, Newton, Feroz Merchant, Roberts ’, Brandon Leonard, we’ve, Roberts, Kirk Sides, Texas Education Agency “, Alexandra Elizondo, ” Elizondo, Houston Jon Shapley, Pearson VUE, ” Pearson, Allison Bazin, “ They’re, Jackie Anderson, KHOU, ” Williams, Roland Martin, Phylicia Rashad, Debbie Allen, Vincent Grayson’s Organizations: CNN, Jack Yates Senior High School, Houston Independent School District, Washington High, Prosecutors, Wilhite, HISD, Booker, Washington, Tuskegee Institute, KHOU, Houston Chronicle, Texas Education Agency, Investigators, Washington High School, State, , Houston Federation of Teachers, Yates, Locations: Ward, Texas, , ” Harris County, Harris County, Harris, Houston, , Dallas
Five people have been charged in Texas, accused of organizing and participating in an illegal cheating scheme that certified more than 200 unqualified teachers and saw the plot’s “kingpin” rake in more than $1 million, prosecutors announced. Investigators noticed a pattern: Numerous teacher certification candidates who previously failed certification exams would drive from faraway Texas cities to the Houston area to take an exam. Then a tip came in that exposed the cheating scheme. He'd pay her about 20% of the $2,500 to allow the cheating, Levine said. “They are going to go over every teacher, I’m sure, and take whatever action they see fit if they believe someone fraudulently obtained a certification,” Levine said.
Persons: proctor, Kim Ogg, Vincent Grayson, Booker T, Tywana Gilford Mason, Nicholas Newton, Nikole, LaShonda Roberts, Ken Paxton, Mike Levine, Texas “, , Ogg, , Levine, proctors, ” Levine, Grayson, Gilford Mason, He'd, Nicolas Newton, Newton, , Roberts, HTEC, It's, Brandon G, Leonard, I’m, — Grayson, Alexandra Elizondo Organizations: Washington High School, Houston Independent School District, Texas Education Agency, Training, Education Center, DA, Public, Houston Training, Booker, Yates High School, NBC News, TEA, Houston ISD, HISD, Public Affairs, Communications Locations: Texas, Houston, Harris County, Newton, Houston ISD, TACTIX
Claudia Sheinbaum is officially taking office Tuesday morning as Mexico's first female president and the first of Jewish heritage. Sheinbaum is expected to head later to the National Palace in Mexico City's famed Zócalo to deliver a speech to constituents. López Obrador leaves office with an approval rating of nearly 80%, Noticias Telemundo reported. Still, crime rates remained high during López Obrador’s term, with at least 199,300 homicides and 51,700 persons reported missing from December 2018 to August of this year, Noticias Telemundo reported. Mexican government data has also shown that the strategy of López Obrador’s predecessors — pursuing drug lords in an all-out war — did not improve safety, either.
Persons: Claudia Sheinbaum, Sheinbaum, Jill Biden, Xóchitl Gálvez, Jorge Álvarez Máynez, Andrés Manuel López Obrador, López Obrador, , Xavier Becerra, Isabella Casillas Guzman, Ken Salazar, Nanette Barragán, Carlos Elizondo, Mayor Regina Romero Organizations: U.S, Mexico City's, Mexico City, Citizen Movement, Noticias Telemundo, Welfare, Human Services, Small, Congressional Hispanic Caucus, White, Social, Mayor Locations: San Lázaro, Mexico City, Mexico, Morena, Mexican, U.S, Tucson , Arizona
US President Gerald Ford dances with Britain's Queen Elizabeth II during a state dinner in Washington, DC, in 1976. Jason Reed/Reuters The White House's State Dining Room is seen ahead of a state dinner honoring French President Emmanuel Macron in 2018. Paisley first performed at the White House in 2009 during the Obama administration as part of a music series. “Tomorrow night we’ve created an experience that will feature the beautiful scenes of the White House and the Washington Monument that few get to enjoy,” White House social secretary Carlos Elizondo said. Event planner Bryan Rafanelli also helped the White House plan for the state dinner.
Persons: Brad Paisley, Joe Biden, Jill Biden, William Ruto, Rachel Ruto, , Howard, “ Brad Paisley, Dr . Biden, Ruto’s, Biden, Ruto, ” Biden, George W, Bush, Gerald Ford, Queen Elizabeth II, Ricardo Thomas, Gerald R, Franklin D, Roosevelt, Enrique Penaranda, Penaranda, Matthew Costello, George R, Nikita Khrushchev, He's, Nina, Dwight D, Eisenhower, Mamie Eisenhower, Costello, John F, Kennedy, Habib Bourguiba, Jackie, Moufida, Bill Allen, Lyndon B, Johnson, Errol W, Barrow, Carolyn, Richard Nixon, Leonid Brezhnev, Charles Tasnadi, Betty Ford, Jordan's King Hussein, David Hume Kennerly, Betty Sherrill, Britain's Queen Elizabeth II, Jimmy Carter, Deng Xiaoping, Cho Lin, Carter, Nancy Reagan, Indira Gandhi, Mikhail Gorbachev, Joe DiMaggio, Ronald Reagan, Reagan, Boris Yeltsin, Naina, George H.W, George H.W . Bush, Barbara, Dirck Halstead, Singer Whitney Houston, Nelson Mandela, Ron Sachs, Bill Clinton, Hillary Clinton, Mandela, Zindzi, Wally McNamee, Corbis, Bill Frist, Lynne Cheney, Dick Cheney, Gloria Macapagal Arroyo, Pablo Martinez Monsivais, Laura Bush, Prince Philip, Itzhak Perlman, Saul Loeb, Barack Obama, Michelle Obama, Manmohan Singh, Gursharan Kaur, Pete Souza, White, Obama, Singh, Jason Reed, Emmanuel Macron, Donald Trump, Melania Trump, Macron, Brigitte, Jabin, Scott Morrison, Joshua Roberts, Paisley, ‘ Wake, Martin Luther, ’ ”, ” Jill Biden, we’ve, Carlos Elizondo, Cris Comerford, Bryan Rafanelli, April’s, Fumio Kishida, Yuko Kishida, CNN’s Sam Fossum Organizations: Washington CNN —, Howard Gospel Choir, White, CNN, Kenyan, Ford Presidential Library, United, White House, Historical Association, Washington Post, Getty, Barbados, AP, Indian, New York Times, Singer, South, Trump, Australian, Paisley, Japanese Locations: Kenya, United States, , Ghana, Africa, Russia, Namibia, Washington , DC, Bolivian, Soviet, George H.W ., toasts, Nashville, Washington
The “bounty of spring” will be the theme of President Biden’s state dinner for Japan on Wednesday evening, an event that will feature decorations of cherry blossoms and peonies and conclude with a performance by Paul Simon. Jill Biden, the first lady, and the White House social secretary, Carlos Elizondo, previewed the menu and the décor ahead of the dinner for Prime Minister Fumio Kishida of Japan and his wife. It will be the fifth state dinner of Mr. Biden’s term. The guests will enter the East Wing to a wall of oversized fans that spill onto the floor, a piece of art and a metaphor with “the small end representing the beginning of life, and each pleat the many paths our lives can take,” Mr. Elizondo said.
Persons: Biden’s, Paul Simon, Jill Biden, Carlos Elizondo, Fumio Kishida, Mr, Elizondo Organizations: Japan, White Locations: Japan
The White House will lean into the full pomp and circumstance of a state visit as the president seeks to emphasize the strong alliance between the two countries. The Bidens welcomed the prime minister and his wife to the White House on Tuesday evening, hosting the couple for a casual dinner at BlackSalt, a local seafood restaurant. The White House will serve wines from the Willamette Valley and Columbia Valley in the Pacific Northwest. The Bidens presented their counterparts with a three-legged black walnut table handmade by a Japanese American owned company in Pennsylvania, the White House said. The Biden White House has previously hosted the leaders of Australia, India, France and South Korea for state visits.
Persons: Joe Biden, Jill Biden, Kishida Fumio, Kishida Yuko, Paul Simon, Biden, ” Jill Biden, , Bryan Rafanelli, , Cris Comerford, Susie Morrison, George W, Bush, Lyndon B, Johnson, Carlos Elizondo –, ’ toasts, Elizondo, Billy Joel, CNN’s Arlette Saenz, Kayla Tausche, Sam Fossum Organizations: CNN, Japanese, White, White House social, Wing, State Department, White House, US, National Soccer Team, National Football Team, Biden White Locations: China, Ukraine, Gaza, United States, Japan, BlackSalt, California, Willamette, Columbia, Pacific Northwest, American, Pennsylvania, Australia, India, France, South Korea
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe global cutting cycle is here, says Goldman Sachs' Alexandra Wilson-ElizondoAlexandra Wilson-Elizondo, Goldman Sachs Asset Management co-CIO of multi-asset management, joins 'Squawk Box' to discuss the latest market trends, the impact of AI, 2024 outlook, and more.
Persons: Goldman Sachs, Alexandra Wilson, Elizondo Alexandra Wilson, Elizondo, Goldman Organizations: Management
TOKYO (AP) — Shares declined Wednesday in Asia after disappointingly high U.S. inflation data sent stocks sliding on Wall Street and raised prospects that interest rates will remain elevated for longer. Hong Kong’s Hang Seng index resumed trading after the Lunar New Year holiday, edging 0.7% higher to 15,861.77 after opening lower. High interest rates hurt all kinds of investments, and they tend to particularly hurt high-growth stocks like technology companies. Stocks of smaller companies fell even more because high rates could hurt them more than bigger rivals by making it more difficult to borrow cash. Yields jumped in the bond market as traders built up expectations for the Fed to keep rates high for longer.
Persons: Australia's, Korea's Kospi, Sensex, Tuesday’s, Russell, Alexandra Wilson, Elizondo, Carl Icahn Organizations: TOKYO, , Nikkei, Federal Reserve, Labor Department, Dow Jones, Nasdaq, Microsoft, Fed, Treasury, Goldman, Goldman Sachs Asset Management, Wall, JetBlue Airways, New York Mercantile Exchange, Brent, U.S Locations: Asia, Indonesia, Southeast, China, Bangkok, Goldman Sachs
Investors shouldn't expect too many changes in 2024, according to the top investing minds at Goldman Sachs Asset Management (GSAM). GSAM strategists suggested that investors are overlooking the risk that the conflicts cause a sharp slowdown. Higher bond yields usually reflect higher risk since investors demand better compensation for going out on a limb. But it's not just junk bonds that have enticing yields — Wilson-Elizondo said debt for investment-grade firms pays mid-single-digit rates despite boasting robust fundamentals. Sophisticated investors can enhance their returns further with private credit, which Wilson-Elizondo said can offer lofty yields of 11% to 12%.
Persons: they're, Alexandra Wilson, Elizondo, GSAM's, Ashish Shah, Shah, David Rosenberg, Wilson, Michael Bruun, it's, Goldman Sachs, Bruun, " Bruun, — Wilson Organizations: Investors, Goldman Sachs Asset Management, Federal Reserve, Consumers, BSE, Nikkei Locations: GSAM, Israel, Ukraine, India, Japan, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed is looking for a rate to be at for a long period of time: Goldman Sachs' Wilson-ElizondoAlexandra Wilson-Elizondo, Goldman Sachs Asset Management deputy CIO of multi-asset solutions, joins 'Squawk Box' to discuss the latest market trends, the Fed's inflation fight, interest rate outlook, and more.
Persons: Goldman Sachs, Wilson, Elizondo Alexandra Wilson, Elizondo, Goldman Organizations: Asset Management
The White House, Google Maps and Google Arts & Culture launched a new virtual tour of the famous mansion on Friday, which is also National Civics Day. “Not everyone can make the trip to Washington, D.C., to tour the White House, so she's bringing the White House to them,” Alexander said. Political Cartoons View All 1220 ImagesThe tour is the first Google virtual tour of the White House to include audio captions for people with disabilities. It is also Google's first virtual tour of the White House to have Spanish translation. The tour is available on the White House website, as well as on Google Maps and the Google Arts & Culture page.
Persons: , Couldn't, Jill Biden, Biden, Elizabeth Alexander, ” Alexander, Carlos Elizondo, Joe Biden, Ben Gomes Organizations: WASHINGTON, Google, Google Arts & Culture, White, Washington , D.C, House Visitors Center, Google Arts Locations: Washington, Washington ,, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNext year will be anything but average, says Goldman Sachs' Alexandra Wilson-ElizondoAlexandra Wilson-Elizondo, Goldman Sachs Asset Management deputy CIO of multi-asset solutions, joins 'Squawk Box' to discuss the latest market trends, what to expect for the Fed's rate decision this afternoon, and more.
Persons: Goldman Sachs, Alexandra Wilson, Elizondo Alexandra Wilson, Elizondo, Goldman Organizations: Asset Management
While the Federal Reserve's latest release was more hawkish than expected, the main risk the the central bank faces is tarnishing its anti-inflation credibility, which warrants favoring their hawkish reaction, said Alexandra Wilson-Elizondo, deputy chief investment officer of multi-asset strategies at Goldman Sachs Asset Management. The recent rise in energy prices and resilient economic activity data likely drove the Fed's forecasts, she said. "We don't see a singular upcoming bearish catalyst, although strikes, the shutdown, and the resumption of student loan repayments collectively will sting and drive bumpiness in the data between now and their next decision," she said. "As a result, we believe that their next meeting will be live, but not a done deal." — Michelle Fox
Persons: Alexandra Wilson, Elizondo, — Michelle Fox Organizations: Federal, Goldman Sachs Asset Management
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email4% Federal Funds rate is attractive to us, Goldman Sachs' Alexandra Wilson-ElizondoAlexandra Wilson-Elizondo, Goldman Sachs Asset Management deputy CIO of multi-asset solutions, joins 'Squawk on the Street' to discuss why it won't be a smooth path ahead for equity markets, rate hike levels, and what Elizondo's portfolio looks like right now.
Persons: Goldman Sachs, Alexandra Wilson, Elizondo Alexandra Wilson, Elizondo, Goldman Organizations: Asset Management
REUTERS/Ralph OrlowskiSummaryCompanies U.S. CPI data for June shows inflation slowdownWall Street stocks gainDollar, Treasury yields dropOil and gold gainJuly 12 (Reuters) - Wall Street stocks advanced on Wednesday and the dollar and Treasury yields fell after new U.S. inflation data showed a slowdown in the seemingly relentless rise of consumer prices. The Consumer Price Index (CPI) gained just 0.2% last month, the Labor Department said on Wednesday, lifted by rises in gasoline prices as well as rents, which offset a decrease in prices of used motor vehicles. Shares of big tech-related companies, which tend to be sensitive to higher interest rates, gave the S&P 500 its biggest boost. /FRXU.S. Treasury yields also dropped, with the 10-year Treasury yield now at 3.865%, down 11.9 basis points . Wall Street banks overall are expected to report higher profits as rising interest payments offset a downturn in deal making.
Persons: Ralph Orlowski, Alexandra Wilson, Elizondo, Bryce Doty, Australia's, Wells, Scott Wren, Wren, Brent, Lawrence Delevingne, Marc Jones, Ankur Banerjee, Jan Harvey, Chizu Nomiyama, Will Dunham, Mark Heinrich Our Organizations: REUTERS, Companies U.S, Treasury, Index, Labor Department, Dow Jones, Nasdaq, Goldman Sachs Asset Management, CPI, Bank of England, U.S, Sit Investment, Fed, Japan's Nikkei, JPMorgan, Citigroup, Wells, Investment Institute, Brent, Wednesday, Thomson Locations: Frankfurt, Germany, U.S, Minneapolis, Asia, Wednesday ., Boston, London, Singapore, Carolina, New York
[1/2] A trader works at the Frankfurt stock exchange, amid the coronavirus disease (COVID-19) outbreak, in Frankfurt, Germany, December 30, 2020. The Consumer Price Index (CPI) gained just 0.2% last month, the Labor Department said on Wednesday, lifted by rises in gasoline prices as well as rents, which offset a decrease in prices of used motor vehicles. CPI advanced 3.0% in the 12 months through June, down from 4.0% in May and the smallest year-on-year increase since March 2021. /FRXU.S. Treasury yields also dropped, with the 10-year Treasury yield now at 3.853%, down 12.9 basis points . EARNINGS AHEADOvernight in Asia, Australia's S&P/ASX 200 index (.AXJO) rose 0.4%, while the bouncing yen knocked Japan's Nikkei (.N225) down 0.8%.
Persons: Ralph Orlowski, Alexandra Wilson, Elizondo, Bryce Doty, Australia's, Wells, Scott Wren, Wren, Brent, Lawrence Delevingne, Marc Jones, Ankur Banerjee, Jan Harvey, Chizu Nomiyama, Mark Heinrich Our Organizations: REUTERS, Companies U.S, Treasury, Index, Labor Department, Dow Jones, Nasdaq, Goldman Sachs Asset Management, Bank of England, U.S, Sit Investment, Fed, Bank of Canada, Japan's Nikkei, JPMorgan, Citigroup, Wells, Investment Institute, Brent, Thomson Locations: Frankfurt, Germany, U.S, Minneapolis, Asia, dealmaking, Boston, London, Singapore, Carolina, New York
[1/2] A trader works at the Frankfurt stock exchange, amid the coronavirus disease (COVID-19) outbreak, in Frankfurt, Germany, December 30, 2020. The Consumer Price Index (CPI) gained just 0.2% last month, the Labor Department said on Wednesday, lifted by rises in gasoline prices as well as rents, which offset a decrease in the price of used motor vehicles. CPI advanced 3.0% in the 12 months through June, down from 4.0% in May and the smallest year-on-year increase since March 2021. /FRXU.S. Treasury yields also dropped, with the 10-year Treasury yield now at 3.885%, down 9.7 basis points . GLOBAL STOCKS, COMMODITIESOvernight in Asia, Australia's S&P/ASX 200 index (.AXJO) rose 0.4%, while the bouncing yen knocked Japan's Nikkei (.N225) down 0.8%.
Persons: Ralph Orlowski, Alexandra Wilson, Elizondo, Bryce Doty, Australia's, Wells, Brent, Lawrence Delevingne, Marc Jones, Ankur Banerjee, Shashwat Chauhan, Jan Harvey, Chizu Organizations: REUTERS, Companies U.S, Treasury, Index, Labor Department, Dow Jones, Nasdaq, Goldman Sachs Asset Management, Bank of England, U.S, Sit Investment, Fed, Bank of Canada, Japan's Nikkei, JPMorgan, Citigroup, Brent, Thomson Locations: Frankfurt, Germany, U.S, Minneapolis, Asia, Boston, London, Singapore, Bengaluru
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Goldman Sachs' Alexandra Wilson-ElizondoAlexandra Wilson-Elizondo, Goldman Sachs Asset Management deputy CIO of multi-asset solutions, joins 'Squawk on the Street' to discuss what it'll take to tame inflation, the message from the last Federal Reserve meeting, and more.
Persons: Goldman Sachs, Alexandra Wilson, Elizondo Alexandra Wilson, Elizondo, Goldman Organizations: Asset Management, Reserve
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's a really high bar for Fed not to hike rates, says Goldman Sachs' Alexandra Wilson-ElizondoAlexandra Wilson-Elizondo, Goldman Sachs Asset Management deputy CIO of multi-asset solutions, joins 'Squawk on the Street' to discuss what it'll take to tame inflation, the message from the last Federal Reserve meeting, and more.
Persons: Goldman Sachs, Alexandra Wilson, Elizondo Alexandra Wilson, Elizondo, Goldman Organizations: Asset Management, Reserve
In fact, excluding the drag from inventories, GDP growth actually would have been closer to 3.4%, well above trend. However, most economists and strategists on Wall Street think the U.S. economy is still on the path to recession. We continue to expect the drag from higher interest rates and tightening credit conditions to push the economy into a mild recession soon." Jim Baird, chief investment officer, Plante Moran Financial Advisors "For all the discussion of recession risk – which is very real – consumers remain willing and able to spend. Recession risks remain elevated; the first estimate of Q1 GDP confirms that the economy continues to slow.
Investors have mostly yawned at lower inflation data this week, keeping stocks range-bound. Strategists at the asset management arms of Goldman Sachs and UBS are signaling caution. The message from markets is clear: lower inflation isn't necessarily a green light for stocks. Strategists at UBS Global Wealth Management (GWM) and Goldman Sachs Asset Management issued even sterner warnings, with neither seeing much upside for stocks in the foreseeable future. Goldman Sachs Asset Management is also bullish on long-duration assets while the economy weakens, especially compared to riskier high-yield bonds.
Wednesday’s data showed consumer prices growing at a slower pace than expected last month, bolstering the argument that inflation is decelerating. Yet some investors believe markets may have already accounted for a mild inflation slowdown and say further gains in stocks could depend on whether upcoming corporate earnings - especially results from banks - can beat forecasts. Earnings per share for the six largest U.S. banks are expected to fall 10% from the same quarter last year, according to Refinitv data. Overall, analysts expect S&P 500 earnings to fall 5.2% in the first quarter of 2023 from the year-ago period, I/B/E/S data from Refinitiv as of April 7 showed. That weakness would come on the heels of a 3.2% earnings fall in the fourth quarter of 2022, a back-to-back decline known as an earnings recession which has not occurred since COVID-19 blasted corporate results in 2020.
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