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☆ Goldman’s official 2023 outlook is here: Where it thinks the market is headed and what to buy
▼ + stars: | 2022-11-22 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Goldman Sachs is predicting zero earnings growth in 2023, with stocks ending the next year essentially flat. The firm is pegging 2023 S & P 500 earnings-per-share flat at $224 and the index ending next year at 4,000, just over 1% from Monday's close. The bank's EPS yield for the next 12 months is 14%, while its estimated EPS will decline by 12% in 2023, according to Goldman. Walgreens's EPS yield for the next 12 months is 11% and its estimated 2023 earnings growth is 2%, Goldman found. Its next-12-month EPS yield is 7% and its estimated EPS growth for 2023 is 4%, according to Goldman.

☆ Blackstone draws a rare 'sell' rating from Wall Street as an analyst raises concerns over 2 high-profile funds
▼ + stars: | 2022-11-22 | by ( Rebecca Ungarino | Casey Sullivan | ) www.businessinsider.com time to read: +3 min

In a rare move for Blackstone, an analyst downgraded the firm's stock rating to "underperform." Blackstone, which has expanded funds aimed at retail investors, said performance is strong. Blackstone shares fell on Tuesday after a Wall Street analyst outlined a grim picture for two of the private-equity and real-estate giant's most prized funds. Credit Suisse research analyst Bill Katz assigned an "underperform" rating to Blackstone. It's a rare negative rating on the firm, which tends to draw cheers from Wall Street analysts who are bullish on Blackstone's position as the largest private-equity investor.

☆ Avoid stocks and make these 7 investments instead to improve your odds of enjoying a positive return in what may be a brutal 2023, according to PIMCO
▼ + stars: | 2022-11-20 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Here's how the firm says to invest in 2023 as interest rates peak and markets struggle. After one of the worst years ever for the classic 60-40 stock-bond portfolio, portfolio managers at Pacific Investment Management Company (PIMCO) have gone back to the drawing board. Higher interest rates will bring down corporate profits — not just inflation, Browne warned. "With interest rates higher amid a challenging macro environment, we see a compelling case for bond allocations and are cautious about higher-risk investments," Browne wrote. Countries that started hiking interest rates early, including those in emerging markets, will offer the best opportunities early in the downturn.

☆ Australia's NAB flags slowing lending growth from rising rates, shares fall
▼ + stars: | 2022-11-09 | by ( Sameer Manekar | ) www.reuters.com time to read: +2 min

[1/2] A National Australia Bank (NAB) logo is pictured on an automated teller machine (ATM) in central Sydney September 12, 2014. The country's second-largest lender also warned that economic uncertainty created by rising interest rates owing to soaring inflation could challenge some customers, however, said it expects strong employment conditions and substantial home and business savings helping it weather the impact. NAB forecasts a steep decline in business and housing lending volumes in fiscal 2023 in Australia, with business credit growth seen decelerating to 3.6% from 14.7% in fiscal 2022. NAB, the country's biggest business lender, recorded strong growth in its business and home lending during the year ended September, with windfall benefit from rising interest rates boosting its cash earnings to A$7.10 billion ($4.62 billion). That compares with A$6.56 billion reported a year earlier and analysts' estimate of A$7.08 billion, according to Refinitiv Eikon.

☆ Stocks making the biggest moves midday: Carvana, Meta, Palantir, Viatris, Walgreens and more
▼ + stars: | 2022-11-07 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves midday:Carvana — Carvana shares shed more than 15%, with trading briefly halted at one point due to volatility. Walgreens raised its fiscal year 2025 sales goal for its U.S. health-care business to $14.5 billion to $16.0 billion, from $11.0 billion to $12.0 billion to account for the deal. Viatris — The global health-care company rallied 16% after it announced it intends to create an ophthalmology franchise by acquiring Oyster Point Pharma and Famy Life Sciences. The toymaker's shares shed nearly 60% last Friday after it delivered disappointing quarterly results and issued a weak forward guidance that included a fourth-quarter loss. DoorDash — Shares of the food delivery company rallied 2.5% after being upgraded by Oppenheimer to outperform from perform.

☆ Dollar drops as U.S. nonfarm payrolls show mixed results
▼ + stars: | 2022-11-04 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +4 min

U.S. nonfarm payrolls increased 261,000 last month, data showed on Friday. However, the unemployment rate rose to 3.7% from September's 3.5%. The odds of a 75-basis-point rise went as high as 64% immediately after the payrolls data. Despite the strong jobs data, Fed officials on Friday said a smaller rate increase is still on the table for the December policy meeting. read moreThe dollar fell 1.1% against the yen to 146.65 yen , posting losses for a third straight week.

☆ Dollar tumbles as U.S. nonfarm payrolls show mixed picture
▼ + stars: | 2022-11-04 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +4 min

U.S. nonfarm payrolls increased 261,000 last month, data showed on Friday. Data for September was revised higher to show 315,000 jobs added instead of 263,000 as previously reported. However, the unemployment rate rose to 3.7% from September's 3.5%. Despite the strong jobs data, Fed officials on Friday said a smaller rate increase is still on the table for the December policy meeting. read moreThe dollar fell 0.8% against the yen to 147.06 yen , while the euro rose 1.7% to $0.9920 .

☆ Global equity funds gain inflows for second week in a row
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +2 min

Nov 4 (Reuters) - Global equity funds obtained huge inflows in the week ended Nov. 2 as investors were hoping that the U.S. Federal Reserve would consider decelerating the pace of its interest rate hikes, ahead of its policy decision. According to Refinitiv Lipper data, investors purchased a net $13.76 billion worth of global equity funds, marking their biggest weekly net buying since March 23. Fund flows: Global equities, bonds and money marketThe U.S., European, and Asian equity funds, all received inflows worth $10.19 billion, $2.42 billion and $830 million respectively. read moreFund flows: Global equity sector fundsMeanwhile, global bond funds obtained $655 million worth of inflows after witnessing disposals for 10 weeks in a row. Fund flows: EM equities and bondsAmong commodity funds, precious metal funds witnessed outflows for a third week, amounting $1.01 billion, but energy funds gained a second weekly inflow, worth $73 million.

Lyft confirmed its plans Thursday to lay off 13% of its workforce, equivalent to about 700 employees, as the broader downturn in once high-flying tech companies persists. An emerging trendStill, Lyft's announcement adds to the broader trend of hiring freezes and job cuts across the tech industry. Amazon announced Thursday it will pause hiring within its corporate workforce, citing the increasingly "uncertain" economy and the company's spate of new hires in recent years. The payments company Stripe announced Thursday it was cutting 14% of its workforce, equivalent to approximately 1,100 workers. The tech sector had come through a significant portion of the pandemic seeing roaring growth.

☆ Opendoor CEO Eric Wu says it will cut 550 employees as the $1.5 billion home-flipping company struggles to turn a profit
▼ + stars: | 2022-11-02 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +3 min

Opendoor announced that it will lay off 18% of its staff, a total of about 550 workers. During third quarter the firm offered generous incentives to drum up sales, eating into its bottom line. Opendoor is offering laid-off employees at least 10 weeks of severance pay and health-care coverage through February 2023, he said. How Opendoor has coped with a cooling housing marketBut recently, Opendoor has had to slash prices and offer richer concessions to lure buyers. Datadoor found that it took Opendoor a median of 113 days to flip a home between July and September.

The National Bureau of Economic Research (NBER)’s authoritative Business Cycle Dating Committee itself uses a two-part classification – “expansion” and “contraction”. Growth in business activity tends to accelerate and decelerate; outright declines in the level of activity are relatively rare. UNDECLARED RECESSIONSThe NBER’s Business Cycle Dating Committee formally declared only six recessions between 1980 and the end of 2020. They were periods of little or no growth in an otherwise uninterrupted business cycle expansion and tend to be forgotten. Mid-cycle slowdowns also reset the economy by easing capacity constraints and relieving upward pressure on prices and wages.

☆ Wall St slips as jobs data dents hopes for Fed rate deceleration
▼ + stars: | 2022-11-01 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

The sharp focus on labor market data overshadowed another report which showed U.S. manufacturing activity grew at its slowest pace in nearly 2-1/2 years in October as rising rates cool demand for goods and pricing pressures on manufacturers lessened. People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. That also helped boost U.S.-listed shares of Chinese firms such as JD.Com , up 3.08% and Alibaba Group Holding , which gained 3.59%. Advancing issues outnumbered declining ones on the NYSE by a 1.56-to-1 ratio; on Nasdaq, a 1.29-to-1 ratio favored advancers. The S&P 500 posted 24 new 52-week highs and eight new lows; the Nasdaq Composite recorded 120 new highs and 110 new lows.

☆ Wall St slips as jobs data dents Fed deceleration wish
▼ + stars: | 2022-11-01 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +3 min

Investors have been paying close attention to labor market data for any signs of weakening in the job market, as decreasing wage pressures and easing demand would help reduce inflation, giving the Fed the ammunition to begin decelerating with a 50-basis-point rate hike in December. "From an employment standpoint things look really robust though, and that is putting some pressure on stocks." According to preliminary data, the S&P 500 (.SPX) lost 16.26 points, or 0.42%, to end at 3,855.79 points, while the Nasdaq Composite (.IXIC) lost 97.62 points, or 0.90%, to 10,889.23. Megacap growth names such as Amazon (AMZN.O) and Apple (AAPL.O), which have struggled since the Fed began raising interest rates, were once again under pressure. Pfizer (PFE.N) rose after the drugmaker raised full-year sales estimates for its COVID-19 vaccine, while Eli Lilly (LLY.N) fell after trimming its profit forecast.

☆ Opendoor slashed prices and paid buyers' agents $3,500 a house in a rush to off-load thousands of homes in the third quarter
▼ + stars: | 2022-11-01 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +7 min

Opendoor cut prices and gave incentives in the third quarter, losing cash on much of its inventory. Opendoor has been offering buyers $15,000 credits and their brokers $3,500 bonuses. A decelerating housing market poses a challenge for iBuying companies like Opendoor, which use home-pricing algorithms to purchase homes. In the third quarter, Opendoor sold between 8,100 and 8,550 homes, according to an estimate by Datadoor, a startup that catalogs Opendoor's acquisition and sales activity across the country. The high end of Datadoor's estimate, 8,550 home sales, would be an 18% decrease in the number of sales Opendoor reported for the second quarter and 32% below the first quarter.

☆ What investors should buy in this 'short lived' rally, according to one analyst
▼ + stars: | 2022-11-01 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

After October's stock market rally , investors are debating whether stocks have hit the bottom or if it's another short-lived bounce. We're having a little bit of a rally here — I think, again, short lived," he told CNBC's Street Signs Asia on Monday. "Investors should be adding money to the areas that will do OK in a global recession; short the areas that will not." What to avoid Landsberg said he would short tech, high-yield credit, and European assets. His firm has short positions in: ProShares Short QQQ, ProShares Short S & P 500, ProShares Short Russell 2000, ProShares Short MSCI EAFE, ProShares Short Hi Yield and ProShares Short Financials.

☆ Hong Kong economy shrinks 4.5% yr/yr in Q3, outlook remains weak
▼ + stars: | 2022-10-31 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

HONG KONG (Reuters) - Hong Kong’s economy shrank faster in the third quarter, contracting 4.5% from the same period a year earlier, the third straight quarter of downturn, advance government data showed on Monday, as external demand remained weak. Hong Kong, China June 29, 2020. The city’s economy shrank by 4.0% and 1.3% in the first and second quarters respectively. It was the deepest contraction since the second quarter of 2020 when gross domestic product shrank 9.4% as COVID-19 took its toll around the world. In his first policy address earlier this month, Hong Kong Chief Executive John Lee prioritised improving international competitiveness and attracting more overseas talent.

☆ Breaking down October's big stock bounce — and why the market didn't need Big Tech to do it
▼ + stars: | 2022-10-28 | by ( Michael Santoli | ) www.cnbc.com time to read: +3 min

This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics. -The S & P has managed tentatively to have broken the downtrend from the mid-August peak and has rebuilt a bit of a cushion. Before the report AMZN had traded exactly in line with S & P 500 over the prior three years. -Market breadth today is mixed, 50-50, AAPL really pushing the indexes quite a bit on its own. VIX succumbing to stronger indexes and the "Friday effect," though will likely rebuild into the Fed next week.

☆ Is Exxon the new 'FANG'? The value rotation is starting to look more real
▼ + stars: | 2022-10-28 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Value buyers have been waiting for a sustainable rally for so long, many have moved on to other quests. "Exxon is the new FANG," has been a quip on trading desks for the past few weeks. As the year has gone on, the direction of earnings growth has decelerated for big-cap tech — in some cases dramatically. "2022's pandemic era earnings growth rates are proving to be unsustainable, so markets are revising their estimate of fair value for these stocks," he said. True, all are seeing earnings growth, just not as fast as expected a couple years ago.

☆ U.S. economy rebounds in Q3 on boost from trade, but demand stalling
▼ + stars: | 2022-10-27 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

While overall inflation slowed substantially from the second quarter, underlying price pressures continued to bubble. Gross domestic product increased at a 2.6% annualized rate last quarter after contracting at a 0.6% pace in the second quarter. That was the slowest rise in this measure of domestic demand since the second quarter of 2020 and followed a 0.5% rate of increase in the second quarter. A broader measure of inflation in the economy rose at a 4.6% rate, decelerating from a 8.5% pace of increase in the second quarter. Business inventories increased at a rate of $61.9 billion after rising at a pace of $110.2 billion in the second quarter.

☆ After adding 37,000 employees in the last 12 months, Alphabet's CEO said the company will assess future projects 'pretty granularly' as it tries to curb costs
▼ + stars: | 2022-10-26 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +2 min

CEO Sundar Pichai said the company would review all projects "pretty granularly" and make "course corrections." Alphabet is facing slowing growth as advertisers pull back spending, and the company has reportedly cut some employee perks. Alphabet has attempted to cut employee expenses amid a slowdown - the company reported disappointing financial results for the third quarter on Tuesday. Alphabet has said it will reduce the pace of hiring, and it has reportedly cut back on perks like employee travel and team offsites. Earlier this year, Pichai reportedly told employees at an all-hands meeting that there are "real concerns that our productivity as a whole is not where it needs to be for the headcount we have."

☆ Inflation worries hurt U.S. consumer confidence; house prices decelerating
▼ + stars: | 2022-10-25 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The Conference Board's consumer confidence index fell to 102.5 this month from 107.8 in September. Consumers were also more inclined to buy a house, probably encouraged by a sharp slowdown in house price inflation. On a monthly basis, prices fell 0.9% in August, the second straight monthly drop. Prices fell 0.7% on a monthly basis after decreasing 0.6% in July. It was the first time since March 2011 that monthly prices posted back-to-back declines.

☆ Premarket stocks: The Fed may have changed markets forever
▼ + stars: | 2022-10-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Federal Reserve officials have clearly stated that they have no plans to pivot away from their policy of aggressive rate hikes to fight persistent inflation. It’s become pointless to try to apply economic rationale to stock markets, Prins told me in a recent interview. Another mandate: The Federal Reserve is mandated to keep unemployment and prices in check, but the third unofficial mandate of the Fed is to boost markets, said Prins. They understand, says Prins, that eventually the Fed will return to its long-term policy of aiding markets. The Federal Reserve has stepped up its efforts to tamp down high prices via a series of blockbuster interest rate hikes.

☆ YouTube's advertising revenue is taking a hit in the wake of a slowing economy and the dominance of TikTok
▼ + stars: | 2022-10-25 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +2 min

YouTube brought in less money from advertising than last year in the wake of a slowing economy and competition from TikTok. Insider recently reported that TikTok is poaching ad dollars away from YouTube, Meta, and Snap. Overall, YouTube's parent company appears to be feeling the sting of a slowing economy, reporting results that missed Wall Street's expectations. Overall, YouTube's parent company seems to be feeling the sting of that slowdown. Alphabet reported earnings and revenue below Wall Street's expectations on Tuesday.

☆ Home prices cooled at a record pace in August, S&P Case-Shiller says
▼ + stars: | 2022-10-25 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Prices in August were 13% higher nationally compared with August 2021, according to the S&P CoreLogic Case-Shiller Home Price Index. "The forceful deceleration in U.S. housing prices that we noted a month ago continued in our report for August 2022," wrote Craig Lazzara, Managing Director at S&P DJI in a release. These data show clearly that the growth rate of housing prices peaked in the spring of 2022 and has been declining ever since." Leading the price gains in August were Miami, Tampa and Charlotte, with year-over-year increases of 28.6%, 28% and 21.3%, respectively. He also noted that higher home prices combined with higher interest rates are keeping would-be sellers from listing their homes.

☆ Watch CNBC's full interview with Independent Solutions Wealth Management's Paul Meeks
▼ + stars: | 2022-10-25 | 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 EmailWatch CNBC's full interview with Independent Solutions Wealth Management's Paul MeeksPaul Meeks, Independent Solutions Wealth Management portfolio manager, joins 'Squawk Box' to discuss expectations for upcoming tech earnings, anticipations for decelerating cloud growth, and resilience factors effecting digital advertising companies.

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