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☆ China's city dwellers will soon have more pets than toddlers, and there's one way investors can cash in on the trend, Goldman Sachs says
▼ + stars: | 2024-08-05 | by ( Kwan Wei Kevin Tan | Aditi Bharade | ) www.businessinsider.com time to read: +6 min

Read previewChina's baby bust could see its urban pet population outnumbering the number of toddlers by 2030, investment bank Goldman Sachs wrote in a July 28 report. According to Goldman Sachs' forecasts, China will have more than 70 million urban pets by 2030. AdvertisementThe rise in pet ownership, the bank said, could help push China's pet food market to $12 billion by 2030. People having more pets than babies shouldn't be surprising considering how China is presently grappling with a demographic crisis. China's population shrank again in 2023, with the number of deaths exceeding the number of births by 2.08 million people.

Persons: —, Goldman Sachs, Lin Zhang, Zhang, Zheng Mu, Zheng, Cash, haven't, Bihan Chen, Emily Huang, Huang, Ann, Hunter van Kirk Organizations: Service, Business, country's National Bureau of Statistics, University of New, Zhang, National University of Singapore, National Association of Realtors, NAR, Bloomberg Intelligence Locations: China, country's, University of New Hampshire, Europe, East Asia

☆ Why the stock market is freaking out again
▼ + stars: | 2024-08-05 | by ( David Goldman | ) edition.cnn.com time to read: +6 min

The Dow tumbled more than 1,000 points at the open, and the broader market plunged 3% Monday. The Nasdaq, full of risky tech stocks, dropped 3.7%. Although that’s not in and of itself an unhealthy unemployment rate, its sudden march higher is alarming: Last year, the unemployment rate was at its lowest level since the moon landing. Traders are beginning to unwind big trades on Apple, Nvidia, Microsoft, Meta, Amazon, Alphabet and other tech stocks that had been surging since the beginning of last year. Monday’s rout, if it ends at current levels, wouldn’t even crack the top 100 worst days in market history.

Persons: Dow, that’s, Goldman Sachs, That’s, Jeremy Siegel, “, ”, Siegel, Stocks, it’ll, Warren Buffett, Berkshire Hathaway Organizations: CNN, Nasdaq, Nikkei, Federal Reserve, of Labor Statistics, Citigroup, JPMorgan, CNBC, Traders, Apple, Nvidia, Microsoft, Meta, Berkshire Locations: Wall

Signs of a slowing U.S. economy sowed panic among investors on Monday, with a sell-off in markets that began last week turning into a global rout. The moves were a sharp reversal in major stock markets, which for much of the past year have risen to new heights, propelled by optimism about cooling inflation, solid labor markets and the promise of artificial intelligence technology. South Korea’s benchmark Kospi index fell more than 10 percent at one point. Japanese stocks have been on a tear for more than a year, fueled by a weak Japanese yen. Adding to the pressure, foreign investors have started selling off positions in Japanese stocks over the last few weeks.

Persons: ”, Andrew Brenner, Goldman Sachs, Goldman, Jordi Basco Carrera, ’, Basco Carrera, Jitters, Jesper Koll, Koll, John Liu, Melissa Eddy Organizations: Federal, Nasdaq, National Alliance Securities, Equity, Technology, Samsung Electronics, Taiwan Semiconductor Manufacturing Company, Nvidia, Intel, Allianz, Monex, Bank of Japan, Tokyo Stock Exchange Locations: Asia, Europe, Americas, Japan, U.S, Taiwan, Singapore, Australia, Hong Kong, China, Stocks, India, Netherlands, Switzerland, New York, Munich, “, New, Seoul, Berlin

☆ Top Wall Street analysts like these 3 stocks for long-term prospects
▼ + stars: | 2024-08-04 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +5 min

Instead, they should consider the recommendations of top Wall Street analysts, who perform an in-depth analysis of a company's fundamentals so they can highlight stocks with solid long-term growth potential. Here are three stocks favored by the Street's top pros, according to TipRanks, a platform that ranks analysts based on their past performance. However, the growth in YouTube advertising revenue slowed down in the quarter and missed analysts' expectations. Following the results, BMO Capital analyst Brian Pitz reiterated a buy rating on GOOGL stock with a price target of $222. (See ServiceNow Stock Charts on TipRanks)Travel + LeisureThis week's third stock is Travel + Leisure (TNL), a membership and leisure travel company.

Persons: Brian Pitz, Pitz, TipRanks, ServiceNow, Goldman Sachs, Kash Rangan, ServiceNow's, Ivan Feinseth, Feinseth, TNL Organizations: Wall Street, BMO Capital, BMO, YouTube, Tigress, Sports Illustrated Resorts Locations: TipRanks

☆ These stocks reporting this week have strong earnings momentum on their side
▼ + stars: | 2024-08-04 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Some of the companies reporting results in the upcoming week are more likely than others to see their stocks get an earnings-powered boost. Fifteen percent of the stocks in the S & P 500 — or 76 names in the index — are due to report results in the coming days, including big media companies and travel and restaurant stocks. Seventy-eight percent of S & P 500 companies that have reported so far have posted an earnings surprise to the upside, while 59% of those stocks have also beaten on revenue expectations. FactSet predicted a blended year-over-year earnings growth rate of 11.5% for the S & P 500, which would mark its highest since the fourth quarter of 2021. CNBC Pro screened FactSet for the S & P 500 companies reporting earnings this week that could receive a post a positive earnings surprise and therefore receive a price boost.

Persons: FactSet, Goldman Sachs, George Wang, —, Fred Imbert Organizations: CNBC, Uber Technologies, Uber, Mizuho, Micro Computer, Micro, Walgreens, Alliance, Barclays, Tesla, Fidelity National Information Services, Expeditors International of Washington

☆ Goldman names five stocks worth buying ahead of earnings, including this red-hot EV name
▼ + stars: | 2024-08-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

There are still plenty of opportunities to snap up attractive stocks ahead of their earnings reports, according to Goldman Sachs. They include Affirm, Li Auto, Madison Square Garden Entertainment, Waystar and CAE. The firm said it sees upside to consensus estimates and that Madison Square Garden Entertainment has assets that are unparalleled in the "leading entertainment market in the world." Waystar Goldman Sachs is also bullish on Waystar ahead of its earnings report on Aug. 7 . MSG Entertainment "MSGE has best-in-class assets in the leading entertainment market in the world.

Persons: Goldman Sachs, Li Auto, Stephen Laszczyk, Laszczyk, Goldman, Will Nance, Nance, Waystar Goldman Sachs, Waystar, Adam Hotchkiss, Hotchkiss, Li, …, MSGE Organizations: CNBC, Garden Entertainment, CAE, MSG Entertainment, Apple, Nasdaq, TAM, China Locations: Madison, New York, China, 2024E

☆ Japan stock sell-off shows a 'fundamental shift' is underway, Goldman Sachs' equity strategist says
▼ + stars: | 2024-08-02 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

A pedestrian looks at an electronic stock board outside a securities firm in Tokyo, Japan, on Tuesday, Dec. 25, 2018. Japan's stock markets have hit a six-month low, declining for two straight days, after the Bank of Japan raised benchmark interest rates to their highest level since 2008. Speaking to CNBC's "Squawk Box Asia," Bruce Kirk, chief Japan equity strategist at Goldman Sachs said that the Japanese market rally had reached a "transitional phase." Yes, there's a fundamental shift taking place in the market, but it's not unusual," Kirk said. "I think people are now looking for areas that are more domestic demand focused, and that's really putting the interest back on Japan's small [and] mid-caps."

Persons: Bruce Kirk, Goldman Sachs, Kirk Organizations: Bank of Japan, Nikkei, CNBC Locations: Tokyo, Japan

☆ Here are Friday's biggest analyst calls: Nvidia, Apple, Amazon, Intel, Morgan Stanley, Square, Coinbase, Lululemon and more
▼ + stars: | 2024-08-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Wells Fargo downgrades Morgan Stanley to underweight from equal weight Wells Fargo downgraded Morgan Stanley and said the "upward premium re-rating seems over." Morgan Stanley initiates Lionsgate Studios at overweight Morgan Stanley said it's bullish on shares of the movie studio company. Morgan Stanley reiterates Tesla as a top pick Morgan Stanley said it's standing by the stock following an analysis of July auto sales. Morgan Stanley upgrades Mobileye to equal weight from underweight Morgan Stanley said the risk/reward is more balanced for the auto supply tech company. " Morgan Stanley reiterates Nvidia as overweight Morgan Stanley says it's sticking with its overweight rating on the AI chipmaker.

Persons: Goldman Sachs, Goldman, Morgan Stanley, Apple, Q, Gildan, Wells, downgrades Morgan Stanley, it's, TD, TD Cowen, Cowen, Raymond James downgrades Crocs, Raymond James, CROX, Oppenheimer, Tesla, Rosenblatt, Lululemon, LULU, K's Organizations: TEAM, Apple Intelligence, Barclays, Deutsche Bank, Amazon, Big Cap Tech, Stifel, Bank of American, Bank of America, Lionsgate, Lionsgate Studios, Intel, of America, TD Cowen, Dynamics, U.S, EV, 7M, UBS downgrades, UBS, Nvidia Locations: California, USA

☆ Tesla's unique approach to sales is giving it headaches
▼ + stars: | 2024-08-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

The big storyFor saleGetty Images; Jenny Chang-Rodriguez/BIOne of Tesla's biggest assets is its willingness to try new things, but its unique approach to sales is also what's giving it headaches. AdvertisementA key issue is Tesla's inability to evolve its sales tactics as the EV market rapidly changes . Business Insider's Grace Kay spoke to more than a dozen current and former employees in Tesla's sales division about how the company has tried to kick-start its sales unit . Not unlike its cars, Tesla's sales approach is innovative compared to the rest of the automotive industry. It's a great strategy when the cars sell themselves — which Teslas did for a while — since you don't need to maintain a traditional sales structure.

Persons: —, Jenny Chang, Rodriguez, It's, Elon Musk, Insider's Grace Kay, There's, Teslas, Justin Sullivan, Fintechs, chatbots, Rebecca Zisser, Goldman Sachs, James Knightley, Andy Jassy, Mike Blake, Chelsea Jia Feng, Venu, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, EV, Tech, Citadel, ING Economics, Big Pharma, Pfizer, Novo Nordisk, Department of Labor, Chevron, ExxonMobil Locations: New York, London

☆ Wall Street will look for signs of what's next for the market after a rocky start to August
▼ + stars: | 2024-08-02 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The S & P 500 ended the week down by 2%. As of Friday, the Nasdaq Composite was more than 10% below its recent high, while the S & P 500 was down by 5.7%. Markets were last pricing in a 71% chance of a half percentage point rate cut in September, up from 22% on Thursday, according to the CME FedWatch Tool . Brands , Fidelity National Information Services , Uber Technologies , Marathon Petroleum , Caterpillar Wednesday Aug. 7 3 p.m. Consumer Credit (June) Earnings: Costco Wholesale , Warner Bros. Discovery , Occidental Petroleum , Ralph Lauren , CVS Health , Hilton Worldwide Holdings , Walt Disney Company Thursday Aug. 8 8:30 a.m.

Persons: Stocks, payrolls, Bill Hornbarger, Benjamin F, Edwards, Russell, Claudia Sahm, selloff, Michael Kantrowitz, Piper Sandler, Kantrowitz, Jan Hatzius, Goldman Sachs, Hatzius, CNBC's, Eli Lilly, Ralph Lauren, Martin Marietta Organizations: Nasdaq, Treasury, Investors, Federal Reserve, Walt Disney Company, Caterpillar, Costco, Micro Computer, PMI, PMI Services, Services PMI, Simon Property Group, Diamondback Energy, Tyson Foods, Devon Energy, Airbnb, Wynn Resorts, TransDigm, Brands, Fidelity National Information Services, Uber Technologies, Marathon Petroleum, Consumer Credit, Costco Wholesale, Warner Bros, Discovery, Occidental Petroleum, CVS Health, Hilton Worldwide Holdings, Gilead Sciences, Akamai Technologies, News Corp, Paramount Global, Expedia, Martin, Martin Marietta Materials Locations: Fortinet, Devon

☆ Watch out for the semiconductor supercycle before you start buying stocks like Nvidia
▼ + stars: | 2024-08-02 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +6 min

Nvidia stock prices have more than doubled since the start of the year, and in June, it briefly became the world's most valuable company. "The boom in spending on AI infrastructure has been a major growth driver for the chip industry," Miller said. Zuckerberg even touted Meta's growing stockpile of Nvidia chips in an interview with The Verge in January, adding that he expects the company to own more than 340,000 Nvidia H100 GPUs by the end of 2024. The boom in data center builds has also spurred significant chip demand. Amazon, Meta, and Google are all designing their own AI chips.

Persons: —, Chris Miller, Miller, Meta's Mark Zuckerberg, Tesla's Elon Musk, Zuckerberg, TSMC, Thomas Rupf, Josie Ananto, Parthenon's Ananto, Jensen Huang, Goldman Sachs Organizations: Service, Nvidia, The Fletcher School, Tufts University, Business, New York Times, Bank Asia, Nvidia Semiconductor, Big Tech, Meta, Google Locations: EY

☆ Wall Street to Big Tech: Is AI ever going to make money?
▼ + stars: | 2024-08-02 | by ( Clare Duffy | ) edition.cnn.com time to read: +7 min

New York CNN —There’s been one big question on the minds of Wall Streeters this tech earnings season: When will anyone start making actual money from artificial intelligence? But Big Tech still has relatively little to show for all their billions spent in terms of significant revenue gains from AI or profitable new products, and investors are starting to get antsy. Shares of both Google and Microsoft dipped following their earnings reports, a sign of investors’ discontent that their huge AI investments hadn’t led to far-better-than-expected results. She added: “Gen AI is where we’re much earlier … We don’t expect our gen AI products to be a meaningful driver of revenue in ’24. As an example of just how long it can take AI products to come to fruition, take Tesla’s AI-based “full self-driving” technology.

Persons: New York CNN — There’s, ChatGPT, ’, Morgan Stanley, Keith Weiss, Steven Ju, Sundar Pichai, Goldman Sachs, —, ” D.A, Davidson, Gil Luria, Meta, Amy Hood, “, Susan Li, that’s, ” Luria, we’re, Jim Covello, Tesla, FSD, Google’s Pichai, Mark Zuckerberg, — Luria Organizations: New, New York CNN, Big Tech, UBS, Google, Microsoft, CNN, Meta Locations: New York, Silicon Valley

☆ These stocks have fallen too much, too fast and could be due for a rebound after broad market sell-off
▼ + stars: | 2024-08-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

This week's market sell-off has pushed several stocks into oversold territory — potentially setting these names for a rebound in the future. Troubled cybersecurity stock CrowdStrike is the most oversold stock on the list with an RSI of just 13.6. Some of this week's most overbought companies include defense giant Lockheed Martin , tobacco company Philip Morris International and FirstEnergy . Of the names on the list, Lockheed Martin has the highest 14-day RSI reading of 93.7. LMT YTD mountain Lockheed Martin in 2024

Persons: Goldman Sachs, LULU, Lockheed Martin, Philip Morris Organizations: Nasdaq, Dow Jones, CNBC, Moderna, U.S, Street, Lockheed, Philip Morris International, Bank of America Locations: LSEG, Thursday's

Along with the downgrade, Roach slashed her price target to $286 from $463. Along with the downgrade, Arya cut his price target to $23 from $35 a share. — Samantha Subin 6:15 a.m.: Apple results suggest 'best is yet to come,' support multiyear upgrade cycle The latest earnings report from Apple reaffirms analysts' confidence in the technology giant and a multiyear upgrade cycle when it launches its latest iPhone later this year. Bernstein's Mark Shmulik trimmed his price target by $5 to $210 a share but encouraged investors to use the sell-off as an entry point. His price target of $95, down from $99, implies downside of 6.6% over the next 12 months.

Persons: Wells Fargo, Morgan Stanley, Henning Cosman, Cosman, — Samantha Subin, Goldman Sachs downgrades Lululemon, Goldman Sachs, Lululemon, Brooke Roach, Roach, LULU YTD, Vivek Arya, Arya, Samantha Subin, America's Wamsi Mohan, macOS, Samik Chatterjee, Citi's Atif Malik, Bernstein's Toni Sacconaghi, Morgan Stanley's Brian Nowak, ISI's Mark Mahaney, Bernstein's Mark Shmulik, Wells, downgrades Morgan Stanley Wells Fargo, Mike Mayo, Mayo, Morgan, Fred Imbert Organizations: CNBC, Barclays, Ferrari, Bank of America, Intel, AMD, Apple, Apple Intelligence, America's, Amazon, Web Services, North Locations: Europe, U.S, Lululemon

☆ Why CTOs have the biggest job on Wall Street right now. Tech leaders from Goldman and Citadel open up about how the job is evolving in the age of AI.
▼ + stars: | 2024-08-02 | by ( Bianca Chan | ) www.businessinsider.com time to read: +8 min

"The most powerful part of the AI story thus far is the chief technology officer, chief information officer," Griffin said at the Milken Global Institute. At the most profitable hedge fund of all time, that person is Umesh Subramanian, Citadel's chief technology officer. But in the age of generative AI, the role of the CTO has evolved into something that reaches far beyond the back office. Nearly two years after OpenAI introduced ChatGPT, finance firms are still trying to figure out the best ways to leverage generative AI for their own businesses and workers. Related stories"The level of investment right now in AI, trickling down the whole value chain, is no longer only a technology investment," Argenti said.

Persons: —, Ken Griffin, Griffin, They've, Subramanian, OpenAI, it's, Andrew Chin, AllianceBernstein, Goldman Sachs, Marco Argenti, Chin, Wells, Bridget Engle, Engle, Keri Smith, Argenti, Citadel's Subramanian, Wall, Accenture's Smith, AllianceBernstein's Chin, Goldman's Argenti Organizations: Service, Citadel, Milken Global Institute, Business, BNY Mellon, Goldman, Amazon Web Services, Management, Accenture, Tech, Wall Locations: Wall

☆ Goldman Sachs' Eric Sheridan on why Amazon is still a good name to own
▼ + stars: | 2024-08-02 | 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' Eric Sheridan on why Amazon is still a good name to ownEric Sheridan, a Goldman Sachs tech analyst, joins 'Closing Bell: Overtime' to discuss why Amazon is still a good name to own right now, whether the stock's expectations are too high, and much more.

Persons: Goldman Sachs, Eric Sheridan

☆ Expect Asian markets to rally in the back end of the year: Goldman Sachs
▼ + stars: | 2024-08-02 | 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 EmailExpect Asian markets to rally in the back end of the year: Goldman SachsGoldman Sachs' Timothy Moe says the current earnings season supports a fundamentally constructive view on the markets, and adds he is overweight Japan and Korea.

Persons: Goldman Sachs Goldman Sachs, Timothy Moe Locations: Japan, Korea

☆ Why workers who lose their jobs to AI will be better off than the Midwest manufacturing employees of two decades ago
▼ + stars: | 2024-08-02 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +9 min

Similar to US manufacturing workers who lost their jobs in recent decades to advancements like automation, those displaced by AI could find themselves without the skills needed for the modern workforce. It comes down to when — and where — AI job losses are likely to materialize. Davis said there are several reasons workers who are displaced by AI should have an easier time finding work than many manufacturing workers of the past. Impacted workers in cities would be more likely to have job opportunities than workers where manufacturing jobs were concentrated, which often were in the Midwest. Widespread AI job displacement won't happen for at least a decadeWhile Davis is uncertain about the timing and scale of AI job displacement, he said he doesn't expect AI to drive major job losses over the next decade.

Persons: —, Goldman Sachs, It's, Steven Davis, Hoover Institute —, Davis, it's, — Davis, they've, they're, Joe Biden, there's, Jim Covello, that's Organizations: Service, Business, Hoover Institute, Stanford University —, Bureau of Labor Statistics —

☆ Japan's market rally is going through a 'transitional phase': Goldman Sachs
▼ + stars: | 2024-08-02 | 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 EmailJapan's market rally is going through a 'transitional phase': Goldman SachsBruce Kirk, chief Japan equity strategist at Goldman Sachs, discusses the Bank of Japan's hawkish pivot and the outlook for the country's market.

Persons: Goldman Sachs Bruce Kirk, Goldman Sachs Organizations: Bank of Japan's Locations: Japan

☆ We expect consecutive cuts in remainder of 2024, says Goldman Sach's Jan Hatzius on Fed
▼ + stars: | 2024-08-02 | 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 EmailWe expect consecutive cuts in remainder of 2024, says Goldman Sach's Jan Hatzius on FedJan Hatzius, Goldman Sachs chief economist, joins 'Squawk on the Street' to discuss his projections on rate cuts from the Fed and why he believes the Fed should cut sooner.

Persons: Goldman Sach's Jan Hatzius, Jan Hatzius, Goldman Sachs

☆ Wall Street seems to love Apple's latest guidance on the new iPhone and Chinese demand
▼ + stars: | 2024-08-02 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Wall Street is even more bullish on Apple after its second-quarter earnings beat analyst expectations. Analysts are focused on a rebound in Chinese iPhone sales and the new iPhone 16. Ives raised his Apple price target to $285 from $275, representing an upside of 30% from Thursday's close. Apple offered guidance for the third quarter, with revenue expected to jump 5% year over year, ahead of Wall Street expectations for revenue growth of 4.3%. Ng raised his Apple price target to $275 from $265, arguing that the iPhone maker was "on the cusp of a multi-year replacement cycle for iPhone."

Persons: Wedbush, —, Dan Ives, Ives, Goldman Sachs, Michael Ng, Ng Organizations: Apple, Service, Cook, iPhone, Apple Intelligence, Products Locations: China, Thursday's, Cupertino

☆ Morgan Stanley tells wealth advisors they can pitch bitcoin ETFs in a first for a big bank
▼ + stars: | 2024-08-02 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

Morgan Stanley on Friday told its army of financial advisors that it will soon allow them to offer bitcoin ETFs to some clients, a first among major Wall Street banks, CNBC has learned. The firm's 15,000 or so financial advisors can solicit eligible clients to purchase shares of two exchange-traded bitcoin funds starting Wednesday, according to people with knowledge of the policy. Those funds are BlackRock's iShares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Fund, the people said. The move from Morgan Stanley, one of the world's largest wealth management firms, is the latest sign of the adoption of bitcoin by mainstream finance. In January, the U.S. Securities and Exchange Commission approved applications for 11 spot bitcoin ETFs, heralding the arrival of an investment vehicle for bitcoin that is easier to access, cheaper to own and more readily traded.

Persons: Morgan Stanley, Fidelity's, Jamie Dimon, Warren Buffett, it's, Goldman Sachs, Wells, spokespeople Organizations: CNBC, Bitcoin, U.S . Securities, Exchange Commission, JPMorgan Chase, Berkshire Hathaway, JPMorgan, Bank of America

☆ Former Dallas Fed President on FOMC meeting: I think Powell did exactly what he needed to do
▼ + stars: | 2024-08-01 | 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 EmailFormer Dallas Fed President on FOMC meeting: I think Powell did exactly what he needed to doRobert Kaplan, former Dallas Fed President and Goldman Sachs vice chairman, joins 'Squawk on the Street' to discuss his reaction to the policymakers' decision on Tuesday to leave interest rate unchanged.

Persons: Powell, Robert Kaplan, Goldman Sachs Organizations: Former Dallas Fed, Dallas Fed

☆ Bank of England rate decision 'going to be close,' Goldman Sachs says
▼ + stars: | 2024-08-01 | 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 EmailBank of England rate decision 'going to be close,' Goldman Sachs saysJari Stehn, chief European economist at Goldman Sachs, says the Bank of England's monetary policy decision is "going to be close" but suggests that a rate cut may win out.

Persons: Goldman Sachs, Jari Stehn Organizations: Email Bank of, Bank

"While company reported 2Q results ahead of guidance on higher take-rate, weaker 3Q guidance and removal of FY GMS outlook suggest no near-term visibility," the analyst wrote. Etsy stock is 20% lower on the year but has increased 16% since July 8. Positively, AmEx did see slightly better [small or midsize enterprise] spend in Q2'24," wrote analyst Donald Fandetti. Bank of America lifted its price target to $563 from $555, while Citi increased its target to $580 from $555. Its price target of $220, up from $175, implies upside of 23% from Wednesday's close.

Persons: Morgan Stanley, Robinson, Brian, Ossenback, — Lisa Kailai Han, Oppenheimer, Jason Helfstein, Etsy's, Etsy, Helfstein, he's, Lisa Kailai Han, Wells, David Lantz, Lantz, Carvana, Raymond James, Brian Vaccaro, Vaccaro, AmEx, Donald Fandetti, Fandetti, Goldman Sachs, Ross Sandler, Andrew Percoco, Fred Imbert Organizations: CNBC, GE, JPMorgan, Carvana, TAM, Management, American Express, America Express, Meta, Wall Street, Goldman, Citi, Barclays, Bank of America, Google, GE Vernova, General Electric Locations: C.H, Etsy, Wingstop, Wells Fargo, Q2'24, 2H24, Wednesday's

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