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Oil could see a decline to a "much, much" lower price, according to crude analyst Tom Kloza. Oversupply will weigh on oil prices in 2025, Kloza predicted. AdvertisementThe oil market is headed into a troubled year in 2025, and crude prices may fall "much, much" lower, according to Tom Kloza, global head of energy analysis at Oil Price Information Service. The oil analyst said crude prices would experience more downward pressure in 2025 despite concerns that conflict in the Middle East could escalate and send prices higher. "It was pointing lower, and I think it's still pointing lower.
Persons: Tom Kloza, Kloza, , Goldman Sachs, Brent Organizations: Service, Oil Price Information Service, Traders, CNBC, Energy Information Administration, Giants, Jets Locations: Saudi Arabia, Iraq
Try working two at the same time. So how does Bansal manage to stay healthy and productive while running two fast-growing startups? "It's very ironic that people think, [because] I'm CEO of two companies, I should be the best at multitasking," Bansal says. The next 30 minutes, "I could be with our investors and board on something [at a] much higher business-level kind," he says. "The next 30 minutes, I could be in a customer conversation.
Persons: Jyoti Bansal, Bansal, TechCrunch, he's, that's, I'm, Jason Buechel, Goldman Sachs, Shekhinah Bass Organizations: Startup, Cisco, CNBC, Whole Foods
Hedge funds that recently flocked into Chinese stocks on stimulus hopes just did a 180. The net selling was 1.4 times larger than the previous record, Goldman said. "As NDRC underwhelmed, hedge funds rapidly sold off Chinese equities," Goldman strategists said in a note to clients on Wednesday. "Hedge funds not only unwound their long positions but added shorts to their books as well, with long sells being double the amount of short sells." Hedge funds had only just piled into the developing market at a record pace one week before , as Beijing's rare stimulus blitz unleashed newfound optimism.
Persons: Goldman Sachs, Goldman, David Tepper, Mehran Nakhjavani Organizations: National Development, Appaloosa Management, CNBC, China's CSI, MRB Partners Locations: China
Valerie Plesch | Picture Alliance | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Sentiment in markets, it seems, was buoyed by encouraging comments from the Fed. The Fed, in other words, is keeping a close eye on the economy and wants to make sure it maintains its smooth landing. It's as if Stephen Sondheim's musical "Into the woods to get the money," markets are merrily singing.
Persons: Valerie Plesch, Gregory Daco, Goldman Sachs, Stephen Suttmeier, Philip Jefferson reemphasized, we're, Mike Bailey, Stephen Sondheim's, Jeff Cox, Samantha Subin, Sarah Min Organizations: Federal Reserve, Getty, CNBC, Brent, Bank of America, Dow Jones Industrial, Nasdaq, Apple, Micro Computer, Fed, FBB Capital Partners Locations: USA, Washington, Florida, U.S, Israel
Hong Kong CNN —Global investors went wild during China’s just-concluded Golden Week holiday by snapping up “everything” related to the country. But that optimism didn’t extend to shoppers and travelers in the world’s second-largest economy itself. “Low tourism spending per head and subdued services prices highlighted still weak domestic demand and continued consumption downgrading,” they said. Goldman Sachs added that anecdotal evidence indicates hotel prices and airfares during the holiday were lower than year-ago levels. According to official data, cross-border travel rose by about 26% to 13 million trips, compared with last year’s holiday period.
Persons: Goldman Sachs, , Xi Jinping, David Tepper Organizations: Hong Kong CNN — Global, Citi, Management, CNBC, Hong, National Development, Reform Commission, Ministry of Finance Locations: China, Hong Kong, Shanghai, Shenzhen
The financial firm upgraded the athletic apparel stock to a buy rating from hold and raised its price target to $97 from $83. — Lisa Kailai Han 6:48 a.m.: Goldman Sachs trims Microsoft price target Goldman Sachs is still bullish shares of Microsoft , despite a minor price target adjustment. However, she accompanied the move by lifting her price target to $80 from $75. Analyst Andrew Mok accompanied the rating change by lifting his price target to $82 from $63. To be sure, he did raise his price target by $10 to $235, implying upside of nearly 10%.
Persons: Joseph Civello, Civello, Caitlin Clark, Lisa Kailai Han, Goldman Sachs, Kash Rangan, Rangan, Bernstein, Harshita Rawat, Venmo, Cash, Rawat, — Lisa Kailai Han, Shagun Singh, Singh, Medtronic, Andrew Mok, Mok, Stephen Tusa, Tusa, divestitures, YTD, Fred Imbert Organizations: CNBC, Barclays, JPMorgan, Honeywell International, Nike, Microsoft, PayPal, RBC, RBC Capital Markets, CVS, Aetna, Honeywell, Dow Jones Industrial Locations: buybacks, Wednesday's
Why investors shouldn’t sweat this inflation report
  + stars: | 2024-10-10 | by ( Fred Imbert | ) www.cnbc.com   time to read: +2 min
The latest inflation report came in slightly hotter than expected, knocking stock prices lower. But the odds of a quarter-point Fed rate cut in November actually rose after the report came out. "CPI Inflation data was slightly on the hotter side, with commodity prices (outside) energy rising more than expected. The good news is that shelter inflation is pulling back and that's going to pull inflation lower. Investors received fresh labor market data Thursday as well, with initial jobless claims jumping by 33,000 to 258,000.
Persons: Dow Jones, Sonu Varghese, Goldman Sachs, Whitney Watson, Ian Lyngen, Stephen Tusa Organizations: CPI, Reserve, Carson, Investors, BMO Capital Markets, JPMorgan, Honeywell
Barclays upgrades CVS to overweight from equal weight Barclays said the stock is a "new margin story." JPMorgan downgrades Honeywell to neutral from overweight JPMorgan said it's downgrading the stock after 15 years with an overweight rating. UBS upgrades Tronox to buy from neutral UBS said it's bullish on the chemical manufacturer. "We upgrade shares of EVGO from Neutral to Buy, following the $1.05bn DOE loan conditional commitment announced last week. "Our bullish view of AIG reflects its outsized EPS growth, lower exposure to risks facing commercial lines carriers (casualty reserves and higher cat loads), high capital flexibility, and attractive valuation."
Persons: Morgan Stanley, Goldman Sachs, Goldman, it's bullish, Jefferies, TD Cowen downgrades, Cowen, Bernstein, Brinker, Kevin Hochman, Truist, it's, BIRK, Cantor Fitzgerald, Mara, Cantor, MARA, Wolfe, Google's, Satya Nadella, Lucas Jackson Organizations: Nvidia, Netflix, Barclays, JPMorgan, Honeywell, Microsoft, UBS, TD Cowen downgrades Pepsi, U.S, Department of Energy, DOE, RBC, PayPal, Cirrus, Bank of America, underperform Bank of America, Nike, Mara Holdings, AIG, DOJ, Google, Reuters Locations: EVGO, EAT's, LHX, New York City
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA quarter-point Fed rate cut is the right expectation going into November, Goldman strategist saysKamakshya Trivedi, head of global foreign exchange, interest rates and emerging markets strategy research at Goldman Sachs, discusses the outlook for the U.S. economy and the likelihood of further interest rate cuts.
Persons: Goldman, Kamakshya Trivedi, Goldman Sachs Locations: U.S
Markets just keep rallying this year, with the S & P 500 up nearly 22% year-to-date and the Nasdaq jumping around 21%. In global stocks, the MSCI World index is around 16% higher. Meanwhile, recent data indicates that the U.S. Federal Reserve could be close to pulling off the much-discussed economic soft landing . With markets already running high, CNBC Pro screened for global stocks that have outperformed the MSCI World index, but still look cheap based on their forward price-to-earnings ratios. Returns of more than 16% so far this year, beating the MSCI World index.
Persons: Goldman Sachs, Morgan Stanley, Mary Ann Bartels Organizations: Nasdaq, Fed, U.S . Federal, CNBC Pro Locations: Wells Fargo
The startup is valued at around $2 billion in a new funding round led by Tiger Global Management, sources say. AdvertisementKong, which offers cloud-based application programming interfaces, is valued at around $2 billion in a new funding round led by Tiger Global Management, according to two sources familiar with the matter. Tiger Global declined to comment. Kong last raised $80 million in Series D funding in 2020, which valued the startup at $1.4 billion. Sapphire Ventures, Lombardstreet Ventures, Index Ventures, CRV, Andreessen Horowitz, and Notable Capital also participated in that round.
Persons: Kong, Tiger, , Andreessen Horowitz, Goldman Sachs, Augusto, Aghi, Marietti, Marco Palladino Organizations: Kong, Tiger Global Management, Service, Tiger, Sapphire Ventures, Lombardstreet Ventures, Index Ventures, CRV, Capital, PayPal, Nasdaq, Volvo
Recession risks in U.S. have come down: Goldman Sachs
  + stars: | 2024-10-09 | 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 EmailRecession risks in U.S. have come down: Goldman SachsKenneth Ho, chief Asia credit strategist at Goldman Sachs, says that's why macroeconomic volatility is lower.
Persons: Goldman Sachs Kenneth Ho, Goldman Sachs Locations: Asia
It's valued at about $2 billion in a new funding round led by Tiger Global Management, sources say. AdvertisementKong, which offers cloud-based application programming interfaces, was valued at about $2 billion in a new funding round led by Tiger Global Management, two people familiar with the matter said. Tiger Global declined to comment. Kong last raised $80 million in Series D funding in 2020, which valued the startup at $1.4 billion. Sapphire Ventures, Lombardstreet Ventures, Index Ventures, CRV, Andreessen Horowitz, and Notable Capital also participated in that round.
Persons: Kong, Tiger, , Andreessen Horowitz, Goldman Sachs, Augusto, Aghi, Marietti, Marco Palladino Organizations: Tiger Global Management, Service, Kong, Tiger, Sapphire Ventures, Lombardstreet Ventures, Index Ventures, CRV, Capital, PayPal, Nasdaq, Volvo
Passengers line up to check in at Chengdu Tianfu International Airport on October 6, 2024 as China's week-long National Day holiday draws to a close. China News Service | China News Service | Getty ImagesBEIJING — China's Golden Week holiday affirmed a trend in more cautious spending, while consumers put greater emphasis on experiences. The Golden Week holiday in China commemorates the founding of the People's Republic of China on Oct. 1. "The Golden Week consumption could still suggest a modest recovery versus August, in our view, due to trade-in subsidies (for appliances and autos) and consumption vouchers issued by the local governments," Peng said. During Golden Week, mainland China recorded 765 million domestic trips, up from both the prior year and before the pandemic, according to the Ministry of Culture and Tourism.
Persons: Goldman Sachs, Goldman, Trip.com, Kenneth Chow, Oliver Wyman, Chow, It's, Christine Peng, Peng Organizations: Chengdu Tianfu International, China News Service, Getty, BEIJING, China Film Administration, Consumers, CNBC, UBS, Ministry of Culture, Tourism Locations: Chengdu, China, People's Republic of China, Greater China, Japan, Thailand
Crude oil futures drifted lower Wednesday after sliding more than 4% the previous day. The rally spurred by the risk of a wider Middle East war has stalled out amid uncertainty over how Israel will retaliate against Iran for last week's ballistic missile strike. Chinese policymakers' failure to deliver new economic stimulus measures at a press briefing this week also held energy prices in check. Though prices are falling, Goldman Sachs sees global benchmark Brent jumping by $10 to $20 per barrel if an Israeli strike disrupts Iranian crude oil production, according to a Tuesday research note. Here are Wednesday's energy prices at around 8:02 a.m.
Persons: Goldman Sachs Organizations: Brent Locations: Israel, Iran
4 trends to watch this bank earnings season
  + stars: | 2024-10-09 | by ( Kaja Whitehouse | ) www.businessinsider.com   time to read: +6 min
Expect lots of questions about how lower rates will affect business going forward. JPMorgan and Wells Fargo will kick off earnings on Friday, followed by Goldman Sachs, Citi, and Bank of America on Tuesday. Related storiesHere are the top four things to look for this bank earnings season. AdvertisementGoldman Sachs CEO David Solomon described a "more challenging macro environment, particularly in the month of August," and said the bank's trading business was "trending down close to 10%." In good news, the compensation expert Johnson Associates sees bonuses up this year across the board, an analysis that's reflected in part of Wall Street's earnings results so far this year.
Persons: Wells Fargo, , Daniel Pinto, Wells, Goldman Sachs, Morgan Stanley, What's, David Solomon, Solomon, Pinto, Banks, Johnson Organizations: JPMorgan, Service, JPMorgan Chase, Federal Reserve, Citi, Bank of America, Investment, LSEG, Renaissance, Barclays Financial Services Conference, Lending, Fed, Wall, Barclays
These dividend growers are also on Goldman Sachs' buy list
  + stars: | 2024-10-09 | by ( Michelle Fox | ) www.cnbc.com   time to read: +4 min
Goldman Sachs recently screened for stocks that offer solid dividend yield as well as dividend growth, both of which can be covered by the company's earnings or free cash flow. All the names had to also be rated a buy at Goldman and have an estimated dividend yield of 2% or more in 2025. It has an estimated 2025 dividend yield of 4.6%, analyst Deep Mehta said. Its estimated CAGR in dividend-per-share between 2024 and 2026 stands at 19% and its estimated dividend yield in 2025 is 2.9%. In the oil patch, integrated producer Chevron is expected to nab a dividend yield of 4.9% next year.
Persons: Goldman Sachs, Deep Mehta, Corie Barry, Mehta, Prologis, Hess, John Hess Organizations: Federal Reserve, Goldman, Citigroup, Rent, Chevron, nab, Canadian Natural Resources, Federal Trade Commission, Exxon, Hess Locations: Guyana
Spotify's HR chief told Raconteur that the company will maintain its work-from-anywhere policy. AdvertisementAmazon might be ordering employees back to the office 5 days a week, but don't expect Spotify to follow suit. Spotify's latest reaffirmation of its WFA policy bucks the current trend of companies pushing to get employees in the office more days a week. Many executives and leaders have attributed their RTO mandates to increased productivity and collaboration when employees work together in the office. "Over time, this drawback could dramatically undermine the character and culture you want to promote in your company," Dimon added.
Persons: Raconteur, , Katarina Berg, Berg, Fortune, Goldman Sachs, Mark Zuckerberg, Jamie Dimon, Dimon, Andy Jassy Organizations: Spotify, Service, WFA, Stockholm School of Economics, JPMorgan, Meta, Amazon . Workers, Disney
True to its name, the S&P 500 index includes 500 large U.S. companies. They are the SPDR S&P 500 ETF Trust , which trades under the ticker SPY; iShares Core S&P 500 ETF , with ticker IVV; and Vanguard S&P 500 ETF , which trades as VOO. Future index performance could be 'muted'The S&P 500 index has continued to make headlines for new all-time highs in 2024. Goldman Sachs just raised its S&P 500 index forecast for 2024 to 6,000 up from 5,600 to reflect expected earnings growth. S&P 500 'hard to beat in the long run'Investing in the S&P 500 index is a popular strategy.
Persons: Warren Buffett, Berkshire, Morningstar, VOO, Larry Adam, Raymond James, Adam, Goldman Sachs, Tom Lee, Bryan Armour, Armour, Sean Williams, Williams Organizations: Berkshire Hathaway, Cnbc, Nbcuniversal, Trust, Vanguard, U.S, ETF, Fundstrat Global Advisors, CNBC, Morningstar, Cadence Wealth Partners Locations: St . Petersburg , Florida, U.S, Concord , North Carolina
Goldman Sachs' David Dubner on the rise of structured M&A
  + stars: | 2024-10-09 | 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 EmailGoldman Sachs' David Dubner on the rise of structured M&ADavid Dubner, Goldman Sachs global head of M&A structuring, joins 'Squawk Box' to discuss the latest market trends, the rise of structured M&A, and more.
Persons: Goldman Sachs, David Dubner
Goldman Sachs is the latest in a flurry of calls to upgrade China stocks after the Asian giant's recent wave of stimulus measures. Goldman predicts that Chinese stocks could even jump a further 15% to 20%, given the powerful comeback rally that has already occurred. It says the MSCI China index could have another 15% upside, and the CSI 300 index could enjoy a further 18% upside. In a Monday note, Citi also increased its price target for Chinese stocks. Following that, Wall Street started getting bullish on those stocks again, with Morgan Stanley predicting Chinese stocks are set to rally 10% and more.
Persons: Goldman Sachs, Goldman, Morgan Stanley, , Vishnu Varathan Organizations: CSI, Citi, Wall, BlackRock Investment Institute, Mizuho Securities Locations: China, China's
However, despite the measures, which have mainly focused on monetary policy, the World Bank's 2025 growth projection was unchanged from earlier projections. The international lender estimated that China's growth rate would drop to 4.3% next year, down from a projected 4.8% in 2024, in an economic update on Tuesday. China's economic growth rate is expected to decline further in 2025 despite a temporary boost from recent stimulus measures, according to the World Bank. The World Bank has long advocated for China to boost its growth through bold policy actions such as unleashing competition, upgrading infrastructure, and reforming education. "For three decades, China's growth has spilled over beneficially to its neighbors, but the size of that impetus is now diminishing," the World Bank said in its Tuesday report.
Persons: Aaditya, Mattoo, James Sullivan, Hui Shan, Goldman Sachs, CNBC's, Goldman Organizations: World Bank, Bank, JPMorgan, National, Reform, East Locations: Aaditya Mattoo, East Asia, Pacific, Beijing, Asia, China, beneficially
Goldman Sachs thinks that U.S.-traded shares of Barclays still have a long growth runway ahead, even after already beating the market so far in 2024. The firm initiated coverage of the banking stock with a buy rating and a 290 pence per share price target on Tuesday. Goldman analyst Chris Hallam forecasts that Barclays could grow its earnings per share twice as fast as peer firms through 2027, while a steep discount on the stock gives investors an attractive entry point. ""The Investment Bank [portion of Barclays' business] is at-scale but currently under-earning," Hallam said. Hallam noted Barclays stock currently trades at roughly six times its 12-month forward price-to-earnings ratio, compared to the wider group of banks covered by Goldman that trade at seven times forward P/E.
Persons: Goldman Sachs, Goldman, Chris Hallam, Hallam Organizations: Barclays, U.S, BCS, ADRs, Investment Locations: American, stoke, reallocation
"We reiterate our Overweight rating on the name as NVDA remains our Top Pick." JPMorgan reiterates Charles Schwab as overweight JPMorgan raised its price target on the stock to $86 per share from $78. "We are initiating coverage of Morningstar (MORN) with a Buy rating and a $390 price target. Wells Fargo reiterates Tesla as underweight Wells says it remains "skeptical" heading into Tesla's robotaxi day later this week. "We are initiating coverage of MBX Biosciences with an Overweight rating and Dec 2025 price target of $30."
Persons: Cantor Fitzgerald, Cantor, TD Cowen, Cowen, Wolfe, Wells, Bernstein, Oppenheimer, Goldman Sachs, Milton, Irma, JPMorgan, Charles Schwab, Morningstar, Redburn, Goldman, Tesla, TSLA, Key, Affirm's, it's, Morgan Stanley, it's bullish, Abbott, Susquehanna, KeyBanc Organizations: Anheuser Busch InBev, InBev, Humana, STARS, Microsoft, Disney, JPMorgan, UBS, Biotech, Legend Biotech, Barclays, Optimus, Qualcomm, Express, American Express, Netflix, Bicara Therapeutics, Abbott Labs, Howmet Aerospace, Commercial Aerospace & Defense, Bank of America, Apple, MBX Biosciences, Delta, Argus, McDonald's Corp Locations: China, Wells Fargo, F4Q17, 1H26, Tesla's
Hurricane Milton could reduce Disney earnings, Goldman says
  + stars: | 2024-10-08 | by ( Kristian Burt | In | ) www.cnbc.com   time to read: +2 min
Projected park closures and disruptions from Hurricane Milton could cut into Walt Disney 's earnings, according to Goldman Sachs analysts. Goldman Sachs reduced its estimate for Disney's fiscal 2025 earnings per share from $5.22 to $5.14. The storm is projected to make landfall around the Tampa area, which hasn't been hit directly by a hurricane since 1921. The storm is then projected to head toward Orlando, where Disney World is located, as it decreases in intensity. Spokespeople for Disney did not immediately respond to CNBC's request for comment on the new earnings estimates.
Persons: Hurricane Helene, Hurricane Milton, Walt Disney, Goldman Sachs, Hurricane Irma, hasn't Organizations: Magic, Walt Disney, Walt, Disney's Parks, Disney, Disney's Locations: Hurricane, Bay Lake , Florida, Florida, Tampa, Orlando
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