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☆ A recession is only delayed as the economy continues to lose steam. Here's exactly how 8 top strategists and money managers recommend investing in this turbulent market.
▼ + stars: | 2023-08-16 | by ( James Faris | ) www.businessinsider.com time to read: +9 min

Now, the inverse has happened as stocks rally, inflation steadily falls, and the labor market stays healthy. By any historical measure, this is still a really strong labor market," he said. "There's a lot of market concern — understandably so — about the sustainability of the strong labor market," Porter said. "There are clear signs that we're weakening at the margin," Schurmeier said of the labor market. "And they're able to thread the needle on the other part of their mandate, which is the labor market."

Persons: John Porter, Jason Draho, Porter, David Lebovitz, Lebovitz, they're, Draho, Jonathan Curtis, Curtis, Brent Schutte, Schutte, Jake Schurmeier, Schurmeier, they'll, shouldn't, Charles Lemonides, Lemonides, Greg Calnon, Calnon, Franklin Equity Group's Curtis, he's Organizations: Newton Investment Management, UBS Global Wealth, Asset Management, Franklin Equity Group, Workers, Northwestern, Harbor Capital Advisors, Fed, Goldman Sachs Asset Management, Franklin Equity

☆ 'Ho hum holiday' expected as shoppers deal with economic cross currents
▼ + stars: | 2023-08-16 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +5 min

Even though it’s still August, eyes are already on how the upcoming holiday shopping season will pan out. Coresight expects the 2023 year-end holiday sales for October through December to be up by just low single digits from a year ago. Harmon said this year’s forecast rests on the shoulders of “a couple of good years of strong holiday sales growth, making comparisons more difficult, and takes into account holiday spending is occurring sooner.”“The patterns of holiday spending have changed. The same pattern was repeated last year, effectively elongating the holiday sales season. At the same time, Harmon said US retail sales are slowing.

Persons: it’s, ”, John Harmon, Coresight, Harmon, Marshal Cohen, Cohen, ” Cohen Organizations: New, New York CNN, Coresight Research, National Retail Federation, Amazon, Walmart, Home, CNN, Federal Reserve Bank of New, P Global Market Intelligence Locations: New York, Santa, Federal Reserve Bank of New York

CNN —At least 21 people are dead and six others missing after a flash flood and landslide following torrential rains in the outskirts of northwestern China’s Xi’an city, local authorities said Sunday. Parts of China have seen record high temperatures and deadly flooding in recent weeks, with experts linking extreme weather around the world to climate change. Flooding killed at least 29 people in Hebei province and 33 in the capital Beijing, according to local authorities. Another 14 people were reported dead in the city of Shulan in Jilin province, as the rains moved northward, inundating farmlands in the country’s grain-producing area. Seven people were taking shelter from heavy rains at the house when it collapsed, according to China National Radio.

Persons: ” Organizations: CNN, Emergency Management, Xinhua, Restaurants, Authorities, China National Radio Locations: China’s Xi’an, Xi’an, China, Weiziping, Hebei province, Beijing, Shulan, Jilin province, Hebei, Hunan province, Leyu, Hengnan county

☆ Inflation may be cooling — but drivers can’t seem to catch a break
▼ + stars: | 2023-08-12 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +9 min

Another hefty expense is car insurance, up 17.8% from a year ago. Car repairs and car insurance were the second- and third-largest annual price increases, respectively, tracked by the CPI. Paul Baxter, a mechanic who owns Bullet Proof Off-Road & Auto, a car repair shop in Mesa, Arizona, said he’s paying 30% more for car parts compared to before the pandemic. To keep the lights on, he marks up car parts he sells to customers by 20% to 30%, he told CNN. Paul Baxter, who opened his auto shop in 2016, has had to raise prices due to the rising cost of car parts.

Persons: there’s, Hunter Scott, Scott, ” Scott, they’re, Pam Franks, “, haven’t, ” Franks, Roszell, Kristin Brocoff, hasn’t, CarMD, Paul Baxter, Baxter hasn’t, Paul Baxter Baxter, Baxter, who’s, ”, Ted Canty, Canty, he’s, we’re Organizations: New, New York CNN, Navy, Craigslist, Metro, CNN, Bureau of Labor Statistics, CPI, Farm, Toyota, state’s Department of Insurance, P Global, Auto, FedEx, Social Security, Volkswagen, Security Locations: New York, Arlington , Virginia, Washington , DC, Washington, DC, skyrocket, Louisiana, Pineville , Louisiana, United States, Mesa , Arizona, Wimauma , Florida

☆ The average price of a resale ticket for the Eras Tour was $3,801. That's up 2,321% from Taylor Swift's last tour.
▼ + stars: | 2023-08-12 | by ( Will Gendron | ) www.businessinsider.com time to read: +4 min

The average resale ticket price for Taylor Swift's Eras Tour has gone up 2,321% since her last tour. A ticket for the North American leg of the tour cost an average of $3,801 on the secondary market. The average secondary market price of a ticket to the North American leg of Taylor Swift's Eras Tour was $3,801 as of July 10, Pitchfork reported, using data from ticket analytics firm TicketIQ. That's a 2,321% increase from her 2018 Reputation Stadium Tour, for which the average resale price in North America was $157. A fan in California purchased a ticket for $1,400 on the secondary market, only for the ticket to not exist.

Persons: Taylor, Taylor Swift, It's, Swift, Harry Styles, Swifties, StubHub Organizations: Pitchfork, North, Service, Ticketmaster, White, Live Locations: Wall, Silicon, That's, North America, California

International travel reached around 90% of pre-pandemic levels this year, according to the International Air Transport Association. Those trends lifted quarterly earnings of travel companies, with cruise operators like Royal Caribbean (RCL.N) reporting record results in recent weeks. Ticket prices, which in some cases have increased by double-digit percentages since the pandemic, are unlikely to plummet. She expects air fares on long-haul international routes to remain high until supply outpaces pre-pandemic levels, demand normalizes and jet fuel prices decline further. International inbound vs outbound in the U.S this yearAverage domestic airfare is currently $246 round-trip, down 8% from 2022, according to travel booking app Hopper.

Persons: Dan McKone, Amadeus, Jozsef Varadi, Hayley Berg, Hopper, that's, Glenn Fogel, Kathleen Oberg, Joanna Plucinska, Rajesh Kumar Singh, Doyinsola, David Gaffen, Matthew Lewis Organizations: International Air Transport Association, Consulting, Royal, Booking Holdings, Marriott, Lufthansa LHAG.DE, United Airlines, Wizz, Reuters, Holdings, International, U.S . National Travel, Tourism Office, British Airways, IAG, Thomson Locations: CHICAGO, Southern Europe, Britain, France, United States, Germany, Singapore, Royal Caribbean, Manila, Hong Kong, Taipei, Tokyo, Europe, Asia, COVID, U.S, Canada, London, Chicago, New York, Bengaluru

☆ Reaction to China inflation data
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +5 min

Below are comments from analysts on the inflation data:XING ZHAOPENG, SENIOR CHINA STRATEGIST, ANZ, SHANGHAI"Both CPI and PPI in year-on-year terms fell into negative territory and confirmed economic deflation. "With destocking and credit expansion, we expect PPI and CPI will rebound from the bottom in the fourth quarter. The CPI deflation may put more pressure on the government to consider additional fiscal stimulus to mitigate the challenge." XIA CHUN, CHIEF ECONOMIST, YINTECH INVESTMENT HOLDINGS, HONG KONG"The lower inflation data reflects weak demand on the mainland, which is biggest challenge facing China's economy. It also shows China's slower-than-expected economic rebound is not strong enough to offer the weaker global demand and lift commodity prices."

Persons: XING ZHAOPENG, CHUAN, FRANCES CHEUNG, Rather, ZHIWEI ZHANG, MARCO SUN, XIA CHUN, GARY NG, Liangping Gao, Ellen Zhang, Winni Zhou, Samuel Shen, Li Gu, Sam Holmes Organizations: ANZ, CPI, PPI, OCBC, SHANGHAI, MUFG BANK, ASIA PACIFIC, Thomson Locations: BEIJING, CHINA, SHANGHAI, China, SINGAPORE, HONG KONG, Japan, Beijing, Shanghai, Hong Kong

☆ Disney's quarter wasn't clean, but we see evidence that CEO Bob Iger's turnaround plan is working
▼ + stars: | 2023-08-09 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

Disney (DIS) reported fiscal third-quarter results after the closing bell Wednesday, and it was another mixed quarter even against low expectations. Still, there were enough pockets of optimism in the company's restructuring plan and streaming strategy to believe CEO Bob Iger's turnaround is working. Indeed, global Disney+ subscribers declined to 146.1 million from 157.8 billion, but nearly all of that was associated with Disney+ Hotstar and not Disney's core markets. Quarter over quarter, that loss of $512 million was narrower by $147 million. Thanks to the ongoing strength of Disney's international parks and cruise line business, Disney expects fourth-quarter operating margins at DPEP to exceed the prior year.

Persons: Bob Iger's, we've, Kevin Lansberry, Iger, Jim Cramer's, Jim Cramer, Jim, Bob Iger, CNBC's David Faber, David A Organizations: Disney, Refinitiv, DIS, Consumer, Hollywood, Indian Premier League cricket, Netflix, Disney Media, Entertainment, Linear Networks, ESPN, Penn Entertainment, Disney Parks, Walt Disney, Star Wars, CNBC, Allen, Grogan Locations: India, Florida, Europe, Canada, DMED, Sun Valley , Idaho

☆ Bank of Japan debated prospects of sustained inflation at July meeting
▼ + stars: | 2023-08-07 | by ( ) www.cnbc.com time to read: +1 min

The Bank of Japan debated growing prospects of sustained inflation at their July meeting with one board member saying wages and prices could keep rising at a pace "not seen in the past," according to a summary of opinions released on Monday. "More firms have started to consider wage hikes for next fiscal year and beyond. Japan is expected to see a new phase where wages and services prices continue to increase," according to one opinion shown in the summary. Therefore, wages and selling prices could continue to rise at a pace that has not been seen in the past," another opinion showed. Governor Kazuo Ueda said the decision was a pre-emptive move against the risk of rising inflation pushing up long-term bond yields, and heightening volatility in financial markets.

Persons: Kazuo Ueda Organizations: Bank, Japan Locations: Japan

The largest island, Tenerife, received 4% more tourists in June than in the pre-pandemic 2019. But there were 22% fewer Germans, a clear sign of how the energy crisis and economic woes have weighed on travel decisions. Meanwhile, hotels in traditional hotspots for German tourists, such as the town of Puerto de la Cruz in northern Tenerife, are now filling up with "weather tourists". This year, 18% fewer Germans went on summer holidays than in 2019, according to Germany's tourism industry group DRV. According to Spanish official data, in the first half of 2023, 14% fewer Germans visited Tenerife than in 2019.

Persons: Borja Suarez, Shizuko Hotta, Hotta, Diego Bejarano, Enrique Talg, Corina Pons, Sarah Marsh, Andrei Khalip, Angus MacSwan Organizations: Gran Canaria, REUTERS, Borja Suarez PUERTO, LA, la, Thomson Locations: Puerto Rico, Gran, Spain, LA CRUZ, Canary Islands, Africa, Tenerife, Puerto, la Cruz, Lake Constance, Germany, Spanish, United States, Canada, U.S, Europe

☆ BOJ debated prospects of sustained inflation at July meeting - summary
▼ + stars: | 2023-08-07 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

Japan is expected to see a new phase where wages and services prices continue to increase," according to one opinion shown in the summary. Therefore, wages and selling prices could continue to rise at a pace that has not been seen in the past," another opinion showed. Governor Kazuo Ueda said the decision was a pre-emptive move against the risk of rising inflation pushing up long-term bond yields, and heightening volatility in financial markets. "If prices and inflation expectations continue to heighten, the effects of monetary easing will strengthen. On the other hand, strictly capping the 10-year bond yield at 0.5% could affect bond market function and market volatility," one opinion showed.

Persons: Kim Kyung, Kazuo Ueda, Leika, Chang, Ran Kim, Sam Holmes Organizations: Bank of Japan, REUTERS, Bank, Japan, Thomson Locations: Tokyo, Japan, TOKYO

☆ More firms on Wall Street are bracing for a stock sell-off. Here's why JPMorgan, Wells Fargo, and others say the market's huge gains are at risk.
▼ + stars: | 2023-08-05 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Some Wall Street analysts are sounding the alarm for a coming sell-off in stocks. That comes as the S&P 500 enjoys its best year since 1927, gaining 18% from January. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. That comes as the S&P 500 enjoys one of its best years since 1927, largely thanks to Wall Street's excitement for artificial intelligence. But he sees the overall S&P 500 ending the year at 4,600-4,800, above current levels.

Persons: Eduardo Munoz JPMorgan, JPMorgan's Marko Kolanovic, Shannon Stapleton Wells, Scott Wren, Wren, Brendan McDermid, Rosenberg, David Rosenberg Organizations: Service, REUTERS, Reuters BlackRock, Rosenberg Research, Dow Locations: Wall, Silicon

Evacuated residents have been transferred to makeshift shelters in hotels and schools, according to state media reports. A woman sits next to a flooded road following heavy rains in Zhuozhou, in northern China's Hebei province on August 2, 2023. Jade Gao/AFP/Getty ImagesFlood control zonesSome 857,000 people have been relocated from these areas, state media reported. Under national rules, the cost of properties damaged due to the release of waters in flood control areas will be compensated by 70%. Floods inundate a village in Baoding city, Hebei province, on August 2, 2023.

Persons: Typhoon Doksuri, Jade Gao, ” Yang Bang, Yang, Ni Yuefeng, “, –, Cheng Xiaotao, Shao Sun, Sun, ” Organizations: Hong Kong CNN, Ministry of Water Resources, Getty, University of California, CNN, Sun Locations: Hong Kong, China’s Hebei province, Beijing, Tianjin, Hebei, Zhuozhou, China's Hebei, AFP, Hebei province, “, ”, Baoding, –, China, University of California Irvine, North China

☆ Betting against cruise ship and hotel stocks backfired and cost hedge funds more than $6 billion, report says
▼ + stars: | 2023-08-04 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +2 min

Cruise ship stocks have been riding high, defying pessimistic market consensus on the industry. Three of the biggest cruise companies cost hedge funds almost $3 billion in bad bets, per a report. Of this, the three cruise ship companies account for almost $3 billion of the total mark-to-market losses, according to figures from S3 Partners seen by the outlet. Other large short positions in Airbnb and Booking.com have also backfired after those stocks jumped 70% and 44% year-to-date respectively. While cruise stocks still remain below their pre-pandemic valuations, the release of pent-up demand has been a boon to the sector.

Organizations: Service, Financial Times, S3 Partners, Royal, Tech, Nvidia, Tesla, Microsoft Locations: Wall, Silicon, Royal Caribbean, Norwegian, Airbnb

☆ Truist says this power generator builder can rally more than 40%
▼ + stars: | 2023-08-04 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Generator supplier Generac is primed for major gains ahead, according to Truist. The firm upgraded the stock to buy from hold on Friday. GNRC 5D mountain Generac this week But analyst Jordan Levy said investors shouldn't shy away from the stock. The analyst also pointed to potential upside compared to the firm's 2024 forecasts for growth thanks to pent up demand for home standby generators. Investment firm Janney also upgraded Generac to buy on Friday, citing improvements in free cash flow generation, an attractive valuation and potential upside from an analyst day in September.

Persons: Jordan Levy, Levy, Janney, — CNBC's Michael Bloom Organizations: Investment Locations: Thursday's

☆ See inside Drake's collab with Shopify, a messy virtual mansion stocked with exclusive merch curated and designed by the rap star
▼ + stars: | 2023-08-04 | by ( Dominick Reuter | Madeline Stone | ) www.businessinsider.com time to read: +2 min

Fans can explore and buy exclusive products through a digital rendering of Drake's Toronto mansion. Shopify's latest tool allows the rap star to partner with other brands for unique merch drops. Rather than scroll through the same-old grid of product listings, fans can explore various virtual rooms strewn about with items to buy, all powered by Shopify's e-commerce platform. "We can actually match incredible content creators that have massive audiences with incredible brands," Shopify President Harley Finkelstein said on the company's second-quarter earnings call. Shopify Collective is one of several new business-to-business initiatives the company has announced recently, and on Wednesday's call Finkelstein highlighted the launch of dozens of new B2B features in the last year alone.

Persons: Drake, Harley Finkelstein, Finkelstein Organizations: Service, Shopify's Locations: Toronto, Wall, Silicon, Canadian, Embassy

☆ Air lease profit rises on strong aircraft demand
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

Air Lease logo is seen displayed in this illustration taken, May 4, 2022. REUTERS/Dado Ruvic/IllustrationAug 3 (Reuters) - Aircraft lessor Air Lease Corp (AL.N) on Thursday posted a 15% rise in second-quarter profit on Thursday, as airlines look to expand capacity to cater to a strong pent-up travel demand. This has also led to high leasing rates boosting profit for aircraft lessors. The company reported a net profit of $122 million, or $1.10 per share, for the three months ended June 30, compared with a profit of $105.9 million, or 95 cents per share, a year ago. Reporting by Shivansh Tiwary in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Shivansh, Arun Koyyur Organizations: REUTERS, Aircraft, Air Lease Corp, Leasing, Boeing, Airbus, Thomson Locations: Bengaluru

☆ Booking Holdings boosts forecast as travel demand defies weak economy
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

Aug 3 (Reuters) - Booking Holdings (BKNG.O) on Thursday raised its forecast for third-quarter gross bookings as pent-up demand for travel outweighed rising costs and concerns around an uncertain economy, sending its shares up 10.25% in extended trading. It now expects gross bookings, which refers to the total dollar value of all travel services booked by customers, to grow slightly more than 20%, up from previous expectations of low-teens growth. Room nights booked for the quarter ended June rose 9% from last year, while gross travel bookings jumped 15%. Alternative accommodation nights grew faster than traditional hotel nights for Booking, at about 11% in the second quarter. Booking's revenue rose 27% to $5.46 billion, compared with analysts' expectations of $5.17 billion, according to Refinitiv data.

Persons: Glenn Fogel, Fogel, Priyamvada, Ananta Agarwal, Devika Organizations: Booking Holdings, Hilton Worldwide Holdings, Wall, Thomson Locations: U.S, Europe, Asia, Bengaluru

But the benign reaction across markets to the BOJ's latest "yield curve control" tweak suggests BOJ Governor Kazuo Ueda may have timed this one just right. In those eight months global inflation has topped out and is now clearly falling, and major central banks are closer to "peak rates." Barclays analysts reckon the BOJ will scrap YCC in October, which would be "sufficiently justified" by Japan's strengthening inflation dynamics. BOJ GETS MARKET BUY-INWhenever the BOJ decides to start offloading its JGBs, there will be plenty of pent-up demand. But the early signs suggest investors believe the BOJ has timed it right and can, to coin a phrase, achieve its own "soft landing."

Persons: Issei Kato, Kazuo Ueda, Government Bond, Jamie McGeever, Paul Simao Organizations: Bank of Japan, REUTERS, Government, Reuters, HSBC, Barclays, International Monetary Fund, U.S . Federal, European Central Bank, Reserve Bank of Australia, Thomson Locations: Tokyo, Japan, ORLANDO, Florida

☆ Frontier Airlines CEO Barry Biffle: We'll see pent-up demand rotate back to domestic this winter
▼ + stars: | 2023-08-02 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFrontier Airlines CEO Barry Biffle: We'll see pent-up demand rotate back to domestic this winterCNBC’s Phil LeBeau and Frontier Airlines CEO Barry Biffle join 'Squawk Box' to discuss the airline's quarterly earnings results, which beat on top and bottom lines, travel demand outlook, and more.

Persons: Barry Biffle, Phil LeBeau Organizations: Frontier, Frontier Airlines

The Norwegian Pearl cruise ship is seen docked at Miami port, after Norwegian Cruise Line Holdings Ltd cancelled sailings amid rising fears of Omicron-related coronavirus infections, in Miami, Florida, U.S. January 5, 2022. Rival Royal Caribbean (RCL.N) last week forecast an upbeat third-quarter profit as well as lifted its annual profit expectations. Norwegian Cruise forecast its annual adjusted EBITDA, a key measure of profitability, between $1.85 billion and $1.95 billion, up from $1.80 billion to $1.95 billion previously. Despite undertaking price hikes on its itineraries, Norwegian Cruise has been bogged down by inflation and higher labor costs. Rival Carnival (CCL.N) has also forecast third-quarter profit below estimates on higher costs.

Persons: Marco Bello, Patrick Scholes, Royal, Harry Sommer, Norwegian's, Granth, Shinjini Organizations: Cruise Line Holdings Ltd, REUTERS, Reuters, Cruise, Royal, Truist Securities, Norwegian Cruise, Thomson Locations: Norwegian, Miami, Miami , Florida, U.S, Royal Caribbean, Bengaluru

☆ Norwegian Cruise projects third-quarter profit below estimates as costs bite
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

Aug 1 (Reuters) - Norwegian Cruise Line (NCLH.N) forecast third-quarter profit below estimates on Tuesday as higher costs offset its gains from pent-up demand for leisure travel and raised ticket prices, sending its shares down about 10% before the bell. Despite undertaking price hikes, higher costs and spiraling marketing expenses have eroded the benefits of a recent resurgence in demand from affluent customers. Rival Carnival (CCL.N) has forecast third-quarter profit below estimates, signalling that rising marketing and labor costs were eating into its gains from higher ticket prices and steady demand. Norwegian Cruise expects third-quarter adjusted profit of 70 cents per share, compared with analysts' average estimate of 79 cents, according to data from Refinitiv. However, the cruise operator expects full-year adjusted profit of 80 cents per share, compared with its earlier forecast of 75 cents.

Persons: Granth, Shinjini Organizations: Cruise, Carnival, Royal Caribbean Cruises, Norwegian Cruise, Thomson Locations: Russia, Ukraine, Norwegian, Refinitiv, Bengaluru

Over the two trading days since, the market has tried to second-guess the pace at which the BOJ wants yields to move, while the BOJ has run special bond-buying operations to cap yields. "There is only a very, very small possibility of a sudden or very steep rise in JGB yields, because too many people want to buy the bonds. The maximum yield investors demanded was 0.6%, just 10 basis points (bps) above the previous policy cap. The promise of an extra 10-20 bps of JGB yield means 10-year JGBs hedged from dollars into yen can yield upwards of 6%. As per BOJ data, lifers and pension funds held roughly 26% of a 1,132 trillion yen ($7.93 trillion) JGB market at the end of 2019.

Persons: It's, we've, Ales Koutny, Rong Ren Goh, BOJ, Tomoya Masanao, Masanao, Rae Wee, Tom Westbrook, Harry Robertson, Alun John, Vidya Ranganathan, Himani Sarkar Organizations: Bank of Japan, JGBs, Vanguard Asset Management, Eastspring Investments, Foreigners, U.S, Nippon Life, Asia Pacific, Thomson Locations: SINGAPORE, TOKYO, United States, Europe, Singapore, JGBs, Belgian, Japan, PIMCO, Sydney, London

☆ Toyota nearly doubles Q1 profit, China remains challenging
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +3 min

The world's top-selling automaker said operating profit for the three months through June totalled 1.12 trillion yen ($7.85 billion), an increase of 94% from a year earlier, beating the average 945.22 billion yen profit estimate in a poll of 10 analysts by Refinitiv. Last year's operating profit was 578.66 billion yen in the first quarter. Toyota maintained its forecast for a 3.0 trillion yen profit for the current year, as the conditions it faced had not changed greatly from three months earlier. That forecast compared to a 3.6 trillion yen average forecast from 23 analysts. In North America, another key market, Toyota said it had benefited from pent-up demand among consumers as the impact of a post-pandemic chip shortage wanes.

Persons: Daniel Leussink, David Dolan, Miral Organizations: Toyota, Refinitiv, Lexus, Thomson Locations: TOKYO, China, North America, Japan

☆ Tech's done well this year — and Goldman Sachs says these 6 stocks have even further to go
▼ + stars: | 2023-08-01 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Tech stocks have already had a strong year, but one corner of the sector has more "appealing" opportunities in store for investors, according to Goldman Sachs. Software stocks that Goldman covers have already soared 37% in the year to date, said the bank in a July 21 note. Goldman added that software companies are more "adequately set up to outperform" in the second quarter and for the rest of the year. This sets the stage for a potential return to the more normalized beat-and-raise cadence typically associated with software companies," the bank's analysts said. Six software stocks Goldman said these stocks still offer strong investment opportunities: Adobe , Salesforce , Monday.com , Microsoft , ServiceNow , Workday .

Persons: Goldman Sachs, Goldman, they'll, — CNBC's Michael Bloom Organizations: Software, Microsoft, Adobe

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