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☆ Dimon and other Wall Street CEOs react to Trump assassination attempt: 'Deeply saddened' by violence
▼ + stars: | 2024-07-15 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

The leaders of Wall Street's most powerful firms are speaking out to condemn the attempted assassination of former President Donald Trump at a Pennsylvania rally over the weekend. JPMorgan Chase CEO Jamie Dimon told employees Sunday that he and his management team were "deeply saddened by the political violence" and attempt on Trump's life. The shooting killed one bystander and injured two more. "We are grateful that he is safe and also want to extend my sincere condolences to the families of those who were tragically killed and severely injured," Solomon said. Wall Street firms don't officially endorse political candidates since they have to deal with both Republican and Democrat officials, though their executives and employees often donate to campaigns.

Persons: Wall, Donald Trump, JPMorgan Chase, Jamie Dimon, Dimon, Goldman Sachs, David Solomon, Solomon Organizations: JPMorgan, Wall, Republican, Democrat

☆ With odds of a Trump win rising, here's what it could mean for Europe's economy
▼ + stars: | 2024-07-15 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +4 min

Former US President Donald Trump during a campaign event at Trump National Doral Golf Club in Miami, Florida, US, on Tuesday, July 9, 2024. "Trump's re-election would thus pose a significant downside risk to our otherwise constructive growth forecast for the Euro area." Trade policy uncertainty, added defense and security pressures and spillover effects from U.S. domestic policies on, for example, taxes could impact Europe, they explained. Trade tensionsTrump's trade policy, and the uncertainty around it, could be one factor that impacts Europe's economy, just as it did during his last presidency, analysts Stehn and Moberly said. In 2018 and 2019, uncertainty about trade policy reduced industrial production in the euro area by around 2%, they estimated.

Persons: Donald Trump, Eva Marie Uzcategui, Goldman Sachs, Jari Stehn, James Moberly, Trump's, Trump, Joe Biden, Moberly Organizations: Trump National Doral Golf Club, Bloomberg, Getty, White, Trump, European Union, EU, . Defense, NATO, U.S, Stehn Locations: Miami , Florida, Europe, Pennsylvania, U.S, Germany, Stehn, Moberly, Ukraine

☆ Monday's rapid fire: Goldman Sachs, Macy's, Cleveland-Cliffs, Super Micro and Electronic Arts
▼ + stars: | 2024-07-15 | 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 EmailMonday's rapid fire: Goldman Sachs, Macy's, Cleveland-Cliffs, Super Micro and Electronic ArtsCNBC's Jim Cramer on Monday discussed his thoughts on five stocks outside the Investing Club portfolio, including Macy's and Cleveland-Cliffs.

Persons: Goldman Sachs, Jim Cramer Organizations: Arts, Club Locations: Macy's, Cleveland

☆ The shock from the Trump assassination attempt has turned to scrutiny of the Secret Service
▼ + stars: | 2024-07-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The US is still coming to grips with the assassination attempt on former President Donald Trump. In today's big story, we examine the scrutiny the Secret Service is facing and what former special agents are saying about the tragedy . But that's not to say the Secret Service has avoided controversy over the last 40-plus years since the Reagan shooting. Secret Service agents converge on former President Donald Trump onstage at his Pennsylvania campaign rally. AdvertisementUltimately, another former Secret Service agent said the entire event represents a failure for Trump's security detail , BI's Matthew Loh and Cameron Manley report.

Persons: —, Donald Trump, Jenny Chang, Rodriguez, Joe Biden, Insider's Brent D, Griffiths, Katherine Tangalakis, Lauren Edmonds, Saturday, Ronald Reagan, that's, Reagan, Brent, Jabin, Thomas Matthew Crooks, BI's Rebecca Rommen, Crooks, BI's Laura Italiano, Kenneth Niemeyer, Matthew Loh, Cameron Manley, Trump, Corey Comperatore, Kirill Kudryavtsev, Yuriy Gorodnichenko, Goldman Sachs, Michael M, Tyler Le, Jensen Huang, Elon Musk, Sam Altman's, Altman, Rebecca Zisser, Mickey Mouse, Hannah Montana, David, Nvidia's Goliath, Dan DeFrancesco, Jordan Parker Erb, Lisa Ryan, Jack Sommers, Annie Smith, Amanda Yen Organizations: Service, Business, Secret Service, Washington, Getty, FBI, UC Berkeley, NDR, Nvidia, Elon, European, Swedish, Disney, YouTube, GOP, Convention Locations: Colombia, Pennsylvania, Trump, Russia, New York, London

☆ Goldman Sachs tops estimates on better-than-expected fixed income trading
▼ + stars: | 2024-07-15 | 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 EmailGoldman Sachs tops estimates on better-than-expected fixed income tradingCNBC's Leslie Picker joins 'Squawk Box' to report on the company's quarterly earnings results.

Persons: Goldman Sachs, Leslie Picker

☆ Premarket trading: US markets are steady following assassination attempt on Trump
▼ + stars: | 2024-07-14 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —US stock futures barely budged after an assassination attempt on former President Donald Trump on Saturday, signaling calm in the markets as Trump survived the incident. Dow futures rose 65 points, or 0.2%, while S&P 500 futures rose 0.1% and Nasdaq Composite futures were unchanged. On Saturday, the former president was shot in the ear during his rally in Butler, Pennsylvania, in what the FBI says was an assassination attempt. Markets crave stability, and an assassination attempt against the presumptive nominee might have thrown that into chaos. But Trump appears to have escaped with mostly superficial injuries, and the market’s thesis of the race hasn’t changed: Trump remains the frontrunner to become the next president.

Persons: Donald Trump, Trump, Joe Biden, Morgan Stanley, Goldman Sachs Organizations: New, New York CNN, Dow, Nasdaq, Trump, Republican National Convention, GOP, Republican, CNN, BlackRock Locations: New York, Butler , Pennsylvania, Milwaukee

☆ China’s biggest policy meeting in six years kicks off this week. How investors can play it
▼ + stars: | 2024-07-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

The more dire predictions for China's highly anticipated "Third Plenum" that kicks off Monday hint at constraining the financial sector, despite slowing economic growth. Policy has long been an important guide for investors in China's top-down economy. The official English summary listed four measures, the third of which called for developing the "real economy," and "guarding against a shift from the real economy toward the financial economy." Goldman Sachs on July 11 published a lengthy report on China solar in anticipation the industry is nearing a bottom. One of the Goldman Sachs analysts' newly initiated, buy-rated China solar stocks is Daqo New Energy , a U.S.-listed manufacturer of polysilicon for solar power companies.

Persons: it's, Dan Wang, Han Wenxiu, Goldman Sachs, bode, Jacqueline Du, Daqo, Si Fu, Wang Organizations: Hang Seng Bank, ” Finance, Central Committee's Office, Financial, Economic Affairs, CNBC, Communist Party's, Committee, Bank of America, Energy, Goldman Locations: China, Beijing, China's, U.S, Shanghai

☆ Stock futures rise slightly as investors look to earnings to keep lifting market to records: Live updates
▼ + stars: | 2024-07-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Stock futures were slightly higher in overnight trading Sunday as investors gear up for a big week of key corporate earnings. S&P 500 futures added 0.1% and Nasdaq 100 futures added 0.1%. Investor attention is shifting to second-quarter earnings reports, which could be the catalyst to extend the market's rally to new records this year. More than 40 S&P 500 companies report second-quarter earnings this week. The S&P 500 gained 0.9% last week, scoring its fifth positive week in six.

Persons: Dow, Donald Trump, Adam Crisafulli, Trump, Joe Biden, Wells, Goldman Sachs, Morgan Stanley, Johnson Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Traders, Vital, Republican National Convention, Trump, U.S, JPMorgan, Citigroup, Bank of America, United Airlines, Netflix Locations: U.S, Milwaukee , Wisconsin, United

☆ Goldman's $2.8 trillion asset management arm says the S&P 500 will be 'flattish' for the rest of 2024. 5 places it says to invest your money instead.
▼ + stars: | 2024-07-14 | by ( Christine Ji | ) www.businessinsider.com time to read: +6 min

Don't expect the mammoth returns of the S&P 500 to continue this year, according to Goldman Sachs Asset Management's midyear investment outlook released last week. AdvertisementBut this doesn't mean that Goldman Sachs is expecting a severe downturn. Active management is more important now than ever, and Goldman Sachs recommends taking steps now to prepare for a lukewarm second half of 2024. To address geopolitical instability and financial shocks, Goldman Sachs recommends hedging risk through commodities. Goldman Sachs is seeing increasing opportunities in Asia.

Persons: Goldman Sachs, Alexis Deladerrière, —, Lindsay Rosner, Rosner, Deladerrière, it's Organizations: Service, Goldman, Business, Nvidia, Microsoft, Apple, Fed Locations: Mexico, France, East, Ukraine, industrials, underperformance, Asia, Japan, India

☆ These kinds of businesses are driving a surge in US corporate bankruptcies
▼ + stars: | 2024-07-14 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

In the meantime, you can stay up to date on the latest business news with CNN’s Business Nightcap newsletter. Access to credit is especially crucial for small, private businesses that aren’t able raise money through financial markets. “There were a number of programs out there to support small businesses during the depths of the pandemic, and there were relatively fewer filings than usual in 2021 and 2022.”Rising corporate bankruptcies could just reflect a lot of churn occurring in Corporate America, Jamner said. Don’t panicMost banks offer free checking if, for instance, customers have their paycheck direct deposited or they maintain an average minimum balance, reports my colleague Jeanne Sahadi. Marianne Lake, the head of Chase Bank, told the Wall Street Journal last week that Chase might stop offering free checking and other free banking services.

Persons: It’s, ” “, Matt Rowe, Josh Jamner, Jamner, we’re, Reena Aggarwal, “, ”, Banks, Jeanne Sahadi, Marianne Lake, Chase, Jaret, Read, Goldman Sachs, Jerome Powell, Mary Daly, Morgan Stanley, Charles Schwab, Adriana Kugler, Johnson, Kinder Morgan, Tom Barkin, Lorie Logan, Michelle Bowman, John Williams, Raphael Bostic Organizations: CNN’s Business, Washington CNN —, P Global Market Intelligence, CNN, Federal Reserve Bank of Kansas, Nomura Capital Management, Consumer, Institute for Supply, P, ClearBridge Investments, ”, Corporate America, Federal, Fed, Georgetown University Psaros Center, Financial Markets, Chase Bank, Wall, TD Securities, BlackRock, San Francisco Fed, Bank of America, PNC, State, US Commerce Department, US Labor Department, National Association of Home Builders, Johnson, US Bancorp, Discover, Vegas Sands, Northern Trust, Citizens, United Airlines, National Statistics, Federal Reserve, Richmond Fed, Netflix, Novartis, Abbott Laboratories, Marsh, Blackstone, Infosys, Cintas, T Bank, Nokia, American Airlines, European Central Bank, American Express, Fifth Third Bancorp, AutoNation Locations: Federal Reserve Bank of Kansas City, Corporate, UnitedHealth, Wells Fargo, Vegas, Equifax, Northern, McLennan, Schlumberger, Haliburton

☆ Trump victory trades to swell after shooting, investors say
▼ + stars: | 2024-07-14 | by ( ) www.cnbc.com time to read: +4 min

Saturday's shooting at U.S. former President Donald Trump's election rally raises his odds of winning back the White House, and trades betting on his victory will increase this coming week, investors said on Sunday. Trump was shot in the ear during the rally in Pennsylvania on Saturday in what the authorities were treating as an assassination attempt. The first shooting of a U.S. president or major party candidate since a 1981 assassination attempt on Republican President Ronald Reagan could upend the Nov. 5 rematch between Republican Trump and President Joe Biden, a Democrat, which has been tight in opinion polls. World leaders and U.S. politicians condemned the shooting, while some industry executives, including Tesla chief Elon Musk, declared their support for Trump. Investors also expect an extension of corporate and personal tax cuts expiring next year, fuelling concerns about rising budget deficits under Trump.

Persons: BUTLER, Donald Trump, Donald Trump's, Trump, Rong Ren Goh, Ronald Reagan, Joe Biden, Reagan, Nick Ferres, Elon Musk, Biden, Jerome Powell, Goldman Sachs, Bill Ackman, Musk Organizations: Republican, Secret, U.S, Treasury, Eastspring Investments, Republican Trump, Democrat, Asset Management, Tesla, Trump, Reuters, Investors, Federal, Biden, Dow Jones, Democratic, Goldman Locations: PENNSYLVANIA, Butler , Pennsylvania, Pennsylvania, Singapore

☆ Earnings playbook: Your guide to the first full week of the reporting season, including Netflix and Goldman
▼ + stars: | 2024-07-14 | by ( Fred Imbert | ) www.cnbc.com time to read: +5 min

Monday Goldman Sachs is set to report earnings before the bell. This quarter: Morgan Stanley is expected to report earnings per share growth of more than 30%, per LSEG. What history shows: Bespoke data shows United beats earnings expectations 71% of the time. Thursday Netflix is set to report earnings after the bell, with a conference call slated for 4:45 p.m. This quarter: The streaming giant is expected to report earnings per share growth of more than 40%, per LSEG.

Persons: Goldman Sachs, Morgan Stanley, Hugh Son, David Solomon, Goldman, Ted Pick, UAL, Leslie Josephs, NFLX, Goldman's Eric Sheridan, Citi's Jason Bazinet Organizations: Bank of America, Netflix, CNBC, LSEG, Investment, Wednesday United Airlines, Delta, Boeing, Airbus

☆ What if the A.I. Boosters Are Wrong?
▼ + stars: | 2024-07-13 | by ( Bernhard Warner | Sarah Kessler | ) www.nytimes.com time to read: +1 min

would contribute only “modest” improvement to worker productivity, and that it would add no more than 1 percent to U.S. economic output over the next decade. That pales in comparison to estimates by Goldman Sachs economists, who predicted last year that generative A.I. The bullish camp has great hopes for A.I. Sam Altman of the ChatGPT maker OpenAI sees A.I. of Nvidia, the dominant maker of the chips used to power A.I., says the technology has ushered in “the next industrial revolution.”

Persons: Daron Acemoglu, Acemoglu, Goldman Sachs, Sam Altman, OpenAI, Jensen Huang, ” Organizations: A.I, Nvidia Locations: O.E.C.D

☆ Investors bet a Fed rate cut to spur rotation from crowded stocks to neglected as bull market continues
▼ + stars: | 2024-07-13 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

Last Thursday, 87% of S & P 500 stocks outperformed the index itself, which Goldman Sachs called "the most in the history of our data set." Its total gain of 57%, measured by the S & P 500, is almost exactly half the post-1929 average too. For good measure, this year the S & P 500 has posted the best-ever start to a presidential election year. Arguably something close to it is already priced in to a considerable degree, with the S & P 500 pushing 22-times forward earnings again. The elevated sentiment backdrop is par for the course for a bull market, but sometimes associated with pauses or pullbacks.

Persons: Goldman Sachs, Russell, it's, It's Organizations: Strategas, New York Stock Exchange, CPI, Federal, Big Tech, Nasdaq, Fidelity Investments, Federal Reserve, Treasury Locations: superlatives, Bull

☆ Here are 5 key things we're watching closely in the stock market this week
▼ + stars: | 2024-07-13 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Three of our Club rate plays — solar panel company Nextracker , Stanley Black & Decker , and Ford — were our top-performing stocks for the week. Friday also ushered in the start of the second quarter earnings season. Earnings Club name Morgan Stanley reports second-quarter earnings before Tuesday's opening bell. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Nextracker, Stanley Black, Decker, Ford —, Wells Fargo, Morgan Stanley, Abbott, Goldman Sachs, Charles Schwab, JB Hunt, Johnson, Ally, Kinder Morgan, Horton, Huntington, Jim Cramer's, Jim Cramer, Jim, Ted Pick, Adam Galici Organizations: Dow Jones, Nasdaq, Big Tech, PPI, Abbott Laboratories, Libre Rio, Bank of America, PNC Financial, PNC, Pinnacle Financial, Housing, U.S . Bancorp, Northern Trust Corporation, Citizens, United Airlines, Alcoa, Steel Dynamics, Green Realty, Taiwan Semiconductor, Nokia, Infosys Technologies, McLennan Companies, T Bank Corp, Forestar, Novartis, Textron, Netflix, PPG Industries, AAR, American Express, Fifth Third Bancorp, Halliburton, HAL, Comerica, CMA, Financial, Jim Cramer's Charitable, CNBC Locations: Wells, BlackRock, BLK, U.S, Marsh, Davos, Switzerland

☆ Trump's trade and tax policies are the new hot-button topic dividing economists and market experts
▼ + stars: | 2024-07-13 | by ( Filip De Mott | ) www.businessinsider.com time to read: +6 min

Experts hold drastically different views, creating a new hot-button topic that will continue to be debated up until the election in November. The camp staunchly opposed to Trump's policiesThe base argument against Trump's fiscal platform is that tariffs are, by nature, inflationary. AdvertisementIn a recent op-ed for the Financial Times, he cited the "benign" impact Trump's first-term tariffs had on the US economy. Looking ahead to a new term, Yardeni thinks Trump's most extreme pursuits will likely be watered down by Congress. AdvertisementRepublican donor Kyle Bass — who serves as the chief investment officer of Hayman Capital Management — has taken a different tact in his support of Trump's fiscal agenda.

Persons: —, Donald Trump, Trump's, Trump, he's, David Kelly, Larry Summers, Paul Krugman, Goldman Sachs, Ed Yardeni, Yardeni, Steve Eisman, Kyle Bass —, Hayman Capital Management —, Joseph Stiglitz, Biden Organizations: Service, Donald Trump White House, Business, Trump, House Republicans, Foundation, New York Times, Peterson Institute, Yardeni Research, Financial Times, Congress, CNBC, Hayman Capital Management, Oxford Economics Locations: China, It's

☆ Wall Street banks see investment banking improvement, with some caution
▼ + stars: | 2024-07-12 | by ( ) www.reuters.com time to read: +3 min

The results by three major U.S. banks kicked off the second-quarter earnings season. Maximize Item 1 of 2 Signs of JP Morgan Chase Bank, Citibank and Wells Fargo & Co. bank are seen in this combination photo from Reuters files. REUTERS/File Photo [1/2] Signs of JP Morgan Chase Bank, Citibank and Wells Fargo & Co. bank are seen in this combination photo from Reuters files. Wells Fargo CFO Mike Santomassimo said on a call that the bank has seen good activity across the investment grade desk, capital markets and the leverage finance business. Goldman's earnings are expected to more than double versus the second quarter of 2023, when they dropped to a three-year low.

Persons: Wells, Goldman Sachs, Morgan Stanley, Mark Mason, Mason, JP Morgan, Jeremy Barnum, Mike Santomassimo, Moody's, Goldman, Noor Zainab Hussain, Manya Saini, Niket, Nupur Anand, Tatiana Bautzer, Saeed Azhar, Megan Davies, Matthew Lewis Organizations: Citigroup, JPMorgan, Citi, Equity, JP Morgan Chase Bank, Citibank, Wells Fargo & Co, Chevron Chevron, Morgan, Thomson Locations: Chevron Chevron The U.S, U.S, Bengaluru, New York

☆ Earnings in the week ahead could be the next catalyst for a broadening market
▼ + stars: | 2024-07-12 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

IWM 5D mountain iShares Russell 2000 ETF Next week's earnings results will help investors glean whether that rotation trade is sustainable. The Dow Jones Industrial Average, which is weighted more toward the real economy than is the S & P 500 and Nasdaq, rose to a new record above 40,000. According to FactSet consensus estimates, S & P 500 companies are set to post blended earnings growth of 9.2% in the second quarter. "It's not unthinkable to see us exiting this year at 5,800 on the S & P," he said. This follows a difficult 2Q, when 75% of Large Cap Core managers trailed the S & P 500," Palfrey wrote.

Persons: Patrick Palfrey, Hogan, Keith Buchanan, Buchanan, Palfrey, David Sekera, Quincy Krosby, Goldman Sachs, Morgan Stanley, Huntington Organizations: Nasdaq, UBS, Investors, Riley, Dow Jones, Globalt Investments, Riley Securities, Big Tech, Core, LPL, BlackRock, Bank of America, Taiwan Semiconductor, Price, Retail, Hunt Transport Services, State, PNC Financial Services, UnitedHealth, United Airlines, Discover Financial Services, U.S . Bancorp, Johnson, Citizens Financial Group, Philadelphia Fed, Netflix, T Bank, KeyCorp, American Express, Halliburton, Fifth Third Bancorp, Regions Locations: Nasdaq, NAHB, Horton, Blackstone, Taiwan

☆ Wall Street is bullish on stocks for the 2nd half of the year. Here are each firm's exact forecasts.
▼ + stars: | 2024-07-12 | by ( Matthew Fox | ) www.businessinsider.com time to read: +7 min

The most bullish S&P 500 price target is 6,000 from Evercore ISI, which represents a gain of about 7%. While the average year-end S&P 500 price target is 5,429, according to data from Bloomberg, the median year-end price target is 5,600. Yardeni Research: S&P 500 price target of 5,800Yardeni Research raised its year-end S&P 500 price target to 5,800 from 5,400 this week. Goldman Sachs: S&P 500 price target of 5,600Goldman Sachs strategist David Kostin boosted his S&P 500 price target to 5,600 from 5,200 last month. UBS: S&P 500 price target of 5,600UBS raised its S&P 500 price target to 5,600 from 5,400 in May, and that's after the bank raised its price target in February.

Persons: —, Julian Emanuel, Emanuel, they're, Oppenheimer, John Stoltzfus, Stoltzfus, Eric Wallerstein, Wallerstein, Ned Davis, Ed Clissold, Goldman Sachs, David Kostin, Kostin, Jonathan Golub Organizations: Wall, ISI, Service, Bloomberg, CNBC, Security, Yardeni, Research, Federal Reserve, Ned Davis Research, UBS, Chicago, & $ Locations: bearish

☆ Small caps tend to outperform as the broaden out, says Goldman Sachs' Greg Tuorto
▼ + stars: | 2024-07-12 | 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 EmailSmall caps tend to outperform as the broaden out, says Goldman Sachs' Greg TuortoGreg Tuorto, Goldman Sachs asset management portfolio manager, joins 'Closing Bell Overtime' to talk the recent performance of small caps.

Persons: Goldman Sachs, Greg Tuorto Greg Tuorto, Goldman Locations: Goldman Sachs

☆ History says there's a 100% chance that US stocks will rise in the second half of the year — here are 15 stocks to target for maximum gains
▼ + stars: | 2024-07-12 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Sure enough, the S&P 500 rallied another 7.2%, ending 2023 up 24.2%. BMO Capital MarketsInvestors would love a similar outcome after a 14.5% first-half gain, which ranks in the 82nd percentile historically, according to BMO. History is on stocks' side in the second halfIn the last seven-and-a-half decades, the S&P 500 has risen 10% to 15% a dozen other times. Chances are, the relatively tame 5.5% slide the S&P 500 experienced in March and April won't be the biggest pullback of the year. Advertisement"Extended valuation remains a hot topic, but a closer inspection reveals that levels may not be as severe as are being advertised," Belski wrote.

Persons: —, Goldman Sachs, Brian Belski, Belski, Stocks, Oppenheimer Organizations: Service, BMO Capital Markets, Business, BMO Capital, BMO, UBS, Markets, Tech, Trade Locations: The Montreal, New York, US

☆ China gears up for next week's Third Plenum meeting. Here's why real estate isn't likely the main focus
▼ + stars: | 2024-07-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

Bloomberg | Bloomberg | Getty ImagesBEIJING — China's real estate problems may be massive, but analysts expect the upcoming Third Plenum to focus on other areas — such as high local government debt levels and a push for advanced manufacturing. "For real estate markets, I don't think it should be a focus of the plenum, because it's already [in a] state that everyone has a consensus [on]," Wang said. watch nowIn his view, excessive growth of the financial sector was behind the hollowing out of the U.S. industrial sector. "Consequently we must constrain the financial industry, including real estate. That's the underlying reason for tightened regulations on both real estate and finance."

Persons: Larry Hu, Hu, Xi Jinping, Deng Xiaoping's, Dan Wang, She'll, it's, Wang, hasn't, Yao Yang, Yao, Goldman Sachs Organizations: Chinese Communist Party, Bloomberg, Getty, BEIJING, Communist Party of, Macquarie, CNBC, Central Committee, Communist Party, Party, President, Hang Seng Bank, HSBC, HSBC It's, Committee, China Center for Economic Research, Peking University, U.S, China Morning Post, Financial Regulatory Administration, World Bank, Big Data Locations: Communist Party of China, Beijing, China, United States, Big Data China

☆ Goldman: Opportunities in junk bonds when the Fed starts cutting rates
▼ + stars: | 2024-07-12 | 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: Opportunities in junk bonds when the Fed starts cutting ratesGurpreet Garewal, Global Fixed Income Macro Strategist at Goldman Sachs Asset Management, discusses the outlook for fixed income in the second half of the year.

Organizations: Goldman, Fed, Goldman Sachs Asset Management

☆ Consumers are getting 'really choosy' as cracks emerge. Here's what that means for investors
▼ + stars: | 2024-07-12 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Pressures faced by lower-income consumers have been smoothed over by robust spending from the middle- and higher-income cohort. 'A shift in priorities' Even with cracks emerging in the consumer, many investors anticipate a soft landing for the economy. "They are spending, but they're being more particular than they were before in terms of what they're spending on," she added. "As more consumers shift their meal preferences to eating at home as opposed to eating out, that could provide a catalyst to lift these stocks valuations," he wrote. Sekera also noted travel as one area where consumers are continuing to spend, even as they pull back on other purchases.

Persons: Bill Merz, They're, Lindsay Rosner, there's, Dave Sekera, Morningstar, Kraft Heinz, Kellanova, Sekera, Goldman Sachs, Rosner Organizations: PepsiCo, U.S, Bank Asset Management, Goldman Sachs Asset Management, HSBC, Viking Holdings, Worldwide Holdings, Marriott International, Walmart, Target, Kraft Locations: U.S, delinquencies

StubHub is delaying a potential initial public offering until after Labor Day, according to a person familiar with the deal. The online ticketing service had been eyeing a summer IPO, aiming for a valuation of at least $16.5 billion. The company has been working with JPMorgan and Goldman Sachs over the past two years on the IPO, CNBC previously reported. If StubHub does enter the public market, it will trade alongside competitors Vivid Seats and Live Nation. Vivid Seats has a market cap of $1.5 billion and Live Nation is valued at just under $23 billion.

Persons: StubHub, haven't, Goldman Sachs, Eric Baker, SeatGeek, Wells Fargo, Morgan Stanley, Taylor Organizations: Labor, JPMorgan, CNBC, eBay, Bloomberg, Citigroup, Wells, Vivid Locations: San Francisco

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