DIRS.INFO The most relevant business & tech news

☆ 'FOMO' rules the stock market now
▼ + stars: | 2023-08-01 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Forget AI, the Fed, and inflation – "FOMO" is now the stock market's dominant force. Bears including Morgan Stanley's top strategist Mike Wilson have abandoned their gloomy forecasts amid signs the breakneck rally could last. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyForget artificial intelligence, forget inflation, forget the Fed. But it also marked the month many bears had to wind back their doom-mongering and accept that the surprise 2023 rally might be for real. Their July climbdowns show that after stocks' longest winning streak in two years, FOMO now rules the market.

Persons: Morgan Stanley's, Mike Wilson, that's, Morgan, who's, Scott Chronert, Wilson, FOMO Organizations: Bears, Service, Federal, Citi, Big Tech Locations: Wall, Silicon

☆ Morgan Stanley: Buy these 15 high-quality stocks that will maintain stable profits during a volatile earnings season
▼ + stars: | 2023-07-31 | by ( Mark Reeth | ) www.businessinsider.com time to read: +3 min

Earnings season is underway, and so far results have beaten expectationsBut Morgan Stanley's Mike Wilson worries there's weakness lying below the surface. He found 15 high-quality stocks with strong profits to invest in now. Investors are neck-deep in earnings as second quarter reports roll in, and so far the news has been good, but not great. In a note to clients from earlier in the week, Morgan Stanley chief US equity strategist Mike Wilson wrote that he anticipates earnings results will be better than Wall Street predicted. Then, they pared the stocks they found down to those with a bullish overweight rating from Morgan Stanley analysts.

Persons: Morgan Stanley's Mike Wilson, Julian Emanuel, Morgan Stanley, Mike Wilson, Wilson, Jerome Powell, Rather Organizations: Wall

☆ Morgan Stanley: Lower inflation has an unusual downside for companies reporting earnings right now, but these 11 stocks will be able to survive and thrive
▼ + stars: | 2023-07-30 | by ( Mark Reeth | ) www.businessinsider.com time to read: +4 min

Earnings season will reveal which companies will suffer a top line decline, Morgan Stanley says. At first glance, lower inflation seems like a boon for market watchers worried about a recession. While investors curse higher inflation, companies have come to see it as a blessing. He anticipates that disinflation will dig away at sales this earnings season, and is prepared for disappointment. The results are the 11 stocks below that Wilson believes will have strong FCF yields and healthy operating margins through the earnings season.

Persons: Morgan Stanley, Kamakshya Trivedi, Goldman Sachs, They've, Mike Wilson, Wilson, Wilson isn't Organizations: FX, Federal Reserve

☆ Morgan Stanley: Buy these 38 stocks that will increase their profits during another better-than-feared earnings season
▼ + stars: | 2023-07-30 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Here are 38 stocks that will revise earnings estimates higher, according to Morgan Stanley. Corporate profits are on pace to fall 9% through roughly a fifth of the Q2 earnings season, which is about 6 percentage points better than anticipated, according to Morgan Stanley. Morgan StanleyIn fact, the firm found that earnings revisions decelerated in two thirds of industries in the weeks since early July. That's cause for concern as a seasonally challenging time for revisions nears — earnings revisions breadth traditionally trends downwards in the months of July through November. Morgan Stanley expects nominal earnings and sales growth to suffer as price growth slows faster than expected, even if long-awaited interest rate cuts come.

Persons: haven't, Morgan Stanley, Ed Yardeni, Morgan, Mike Wilson, isn't, Wilson, they've

☆ 'People give up on recession just as it arrives': Don't count out an economic downturn just yet
▼ + stars: | 2023-07-30 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Despite solid economic data, some Wall Street strategists are sticking with their gloomy outlook for the economy and stocks. But don't count out a decline just yet: "People give up on recession just as it arrives." Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Société GénéraleEdwards isn't the only bear on Wall Street. And as Edwards highlighted, a decline in profits usually leads to an uptick in layoffs, which could ultimately hurl this economy into a recession.

Persons: Albert Edwards, Greedflation, Edwards, Société Générale Edwards, JPMorgan's Marko Kolanovic, Kolanovic, Morgan Stanley's Mike Wilson, Wilson Organizations: Service, Survey, Loan, Fed Locations: Wall, Silicon

LONDON, July 26 (Reuters) - Even as fears of a 2023 U.S. recession recede and stock market bears concede defeat, there's scant sign of party mode. After wild swings of output, prices, employment, liquidity and interest rates, firm convictions about the precise onset of "technical" recessions - or even previously reliable gauges of bull and bear markets - have all become a bit suspect. Whether on a domestic or global scale, aggregate views of the economy, or stock market, right now are likely misleading. A bull to bear market and back again in little over 18 months - or so it seems. SP 500 2023 YTD THROUGH JULY 21BLUNTEDChief among the puzzles is the variable impact of sharply higher interest rates on both households and firms.

Persons: Morgan Stanley's, Mike Wilson, Wilson, Morgan Stanley, Andrew Lapthorne, Russell, Mike Dolan Organizations: Reuters Graphics, Barclays, International Monetary Fund, Tuesday, eventual, San Francisco Federal Reserve, Generale, Fed, Reuters, Twitter, Thomson Locations: U.S, midyear

☆ The Federal Reserve just hiked interest rates to their highest level in 22 years. Here's how Wall Street is reacting, where the pros think investors should be putting their money, and why inflation is
▼ + stars: | 2023-07-27 | by ( Mark Reeth | ) www.businessinsider.com time to read: +7 min

The Federal Reserve hiked rates in July, and it could be the final rate hike of the cycle. But while the latest rate hike was all but certain, there are still plenty of questions about what lies ahead. In a note from Wednesday evening, Goldman Sachs chief economist Jan Hatzius pointed out that Powell made it clear any further hikes will depend on inflation data. But Bank of America analysts led by US economist Michael Gapen remain unconvinced that the rate hike cycle is truly over. As for equities, Wall Street widely expected this week's rate hike, so there are no major changes to their second-half investing recommendations.

Persons: Jerome Powell, Henry Allen, shouldn't, Allen, Goldman Sachs, Jan Hatzius, Powell, Hatzius, Gurpreet Gill, Gill, Peter Hooper, Michael Gapen, Gapen, Goldman's Gill, America's Gapen, Morgan Stanley, Mike Wilson Organizations: Federal, shouldn't, Deutsche Bank, Fed, Goldman Sachs Asset Management, Bank of America, Bank, America's Locations: Wall

keep Big Tech booming? Nasdaq futures are up on Tuesday morning, ahead of a Big Tech earnings bonanza that kicks off when Microsoft and Alphabet report second-quarter results after the closing bell. Mike Wilson, Morgan Stanley’s chief U.S. equity strategist, apologized to clients on Monday, writing that his pessimistic stock market calls failed to spot the surge in A.I.-related stocks. On the other hand, Marko Kolanovic, JPMorgan Chase’s chief market strategist, is unconvinced that tech fervor will help the markets avoid a sharp decline this year. All eyes will be on Microsoft and Alphabet, which are at the forefront of commercializing generative A.I., the technology behind chatbots like ChatGPT that have captured the public’s imagination.

Persons: Mike Wilson, Morgan Stanley’s, Marko Kolanovic, — Organizations: Big Tech, Nasdaq, Microsoft, Nvidia, Citigroup, JPMorgan Chase’s, Google

As corporate earnings season reaches its peak in the coming weeks, Morgan Stanley advises traders to look for certain stock plays. Morgan Stanley chief equity strategist Mike Wilson said in a Monday note that he expects "performance dispersion to rise" as more companies report their earnings. Wilson recommends investors choose stocks that exhibit high earnings quality, strong free cash flow generation and improving earnings revision. Nonetheless, more than 90% of analysts covering the stock rate it a buy, according to Refinitiv. The company is set to report earnings Tuesday before the bell.

Persons: Morgan Stanley, Mike Wilson, Wilson, Morgan, Morgan Stanley's, Dara Mohsenian, — CNBC's Michael Bloom Organizations: Dow Jones, Microsoft, Chevron, ExxonMobil, Health, UnitedHealth, Humana, Elevance, Dow, Health Care, SDPR Fund, Mobile, General Motors, GM, Colgate, Palmolive, Comcast, CNBC Locations: U.S, NBCUniversal

July 25 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. BI won't want the rupiah to strengthen too much because exports will suffer, but won't want potential inflation-boosting weakness either. On a year-on-year basis, GDP was expected to have expanded 0.8% in the April-June period, down slightly from 0.9% in January-March. On a quarterly basis, however, Asia's fourth largest economy is expected to have expanded 0.5%, up from 0.3% growth in the first quarter. Here are key developments that could provide more direction to markets on Tuesday:- Indonesia interest rate decision- South Korea GDP (Q2)- Hong Kong trade (June)By Jamie McGeever;Our Standards: The Thomson Reuters Trust Principles.

Persons: Jamie McGeever, Dalian Wanda, Monday's, Xi Jinping, Wall, Dow, Morgan Stanley's Mike Wilson Organizations: U.S, Garden, Dalian, Communist Party, Bank Indonesia, BI, China, Thomson, Reuters Locations: China, Beijing, Indonesia, South Korea, Asia, Korea, Hong Kong

☆ A 31-year market vet warns stocks face at least 23% downside with inflation still too high, a recession looming, and a narrow group of companies driving the current rally
▼ + stars: | 2023-07-22 | by ( William Edwards | ) www.businessinsider.com time to read: +7 min

Manufacturing data, inflation data, market breadth, and high rates are warning signals, he says. Bullandbearprofits.comShort-term Treasury rates remaining elevated prove the Fed is going to continue raising rates, Wolfenbarger said. The ISM PMI Manufacturing Index is currently at 46, and readings below 50 mean the economy is contracting. Bullandbearprofits.comAll of this amounts to a bearish outlook for stocks, Wolfenbarger believes. Some in the market are growing fatigued of the recession forecasts as the market surges back toward all-time-highs.

Persons: Jon Wolfenbarger, Wolfenbarger, Wolfenbarger —, Merril Lynch, Piper, Michael Kantrowitz, Kantrowitz, Morgan Stanley, Mike Wilson, Wilson, Morgan Stanley Wilson, there's Organizations: Federal, JPMorgan, Bull, CPI, Cleveland Fed, University of Michigan, PMI

☆ Even Wall Street has no clue which way the economy is going
▼ + stars: | 2023-07-10 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Wall Street hasn't been so divided for two decades, according to Bloomberg. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Similarly, the Federal Reserve's own forecasters say it's a 50-50 call whether the US will manage to escape a severe economic slump. And you can add Wall Street to the list of places where there's limited agreement on if there'll be a recession before the end of this year. The range of views on Wall Street is so wide that when it comes to stocks, analysts haven't been so divided for 20 years, according to Bloomberg.

Persons: Joe Biden, Janet Yellen, there'll, Goldman Sachs, there's, Morgan Stanley's, Mike Wilson, haven't Organizations: Bloomberg, Service, Federal, Bank of America, JPMorgan Locations: Wall, Silicon

☆ SVB, BBBY, Lordstown lead list of US bankruptcies as companies fold up at the fastest pace since 2010
▼ + stars: | 2023-07-07 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +2 min

First-half US corporate bankruptcies surged to the highest level since 2010, data from S&P Global Market Intelligence shows. Almost 3,000 firms folded up in the last six months, a 68% jump from a year earlier, according to Epiq Bankruptcy. American businesses have come under increased stress after the Federal Reserve raised interest rates aggressively. Total company failures for the period surged 68% from a year earlier to almost 3,000, according to data provider Epiq Bankruptcy. Rising corporate bankruptcies are a worrying sign for the wider US economy, which is already under strain from the effects of the Fed's aggressive interest rate hikes.

Persons: —, David Rosenberg, Morgan Stanley, Mike Wilson, Gregg Morin Organizations: P Global Market Intelligence, Federal Reserve, Service, Valley, Bed, Lordstown Motors, Mediamath Holdings, Epiq, Business Development

☆ Let's set the table for the second half by reflecting on this year's hated bull market
▼ + stars: | 2023-07-02 | by ( Jim Cramer | ) www.cnbc.com time to read: +18 min

You don't get the best first-half Nasdaq rally in 40 years simply because the Federal Reserve did this, or the yield curve in the bond market did that. It was almost as if it was prosaic to seek profits, like, "How dare you defy the teachings of the yield curve, you foolish soon-to-be- broke apostate." It was the second move, the second week of March, that told the second tale of the first half: the fall of Silicon Valley Bank. Here we had an out-of-nowhere collapse of a well-known seemingly well-run bank that ran afoul, again, of the yield curve. No company could rival Club stocks Apple (AAPL), Alphabet (GOOGL), Amazon (AMZN), Microsoft and Meta Platforms (META) — nice metamorphous there and Tesla , not a Club name.

Persons: William Jennings Bryan, Gandhi, Bud, Altman, Sam Altman, Jensen Huang, Jensen, mutt, Cezanne, Monet, Shakespeare's Henry IV, Carl Quintanilla, David Faber, da, Lisa's, Wendy's, Scylla, Charybdis, ChatGPT, haut, Morgan Stanley's Mike Wilson, aren't, They've, isn't, Goldman Sachs, Tesla, Didn't, Freddie, Lehman, Jerome Powell, We've, it's, Eli Lilly, Jim Cramer's, Jim Cramer, Jim, Mad Organizations: Nasdaq, Federal Reserve, Intel, The New York Times, Veterans, Club, Microsoft, Nvidia, Globe Theatre, Silicon Valley Bank, Fed, Apple, Meta, RCA, US Steel, Washington Mutual, AIG, IBM, Jim Cramer's Charitable, CNBC, NYSE Locations: America, Philadelphia, OpenAI, Oz, Queens, mull, Ithaca, Weimar, Silicon, Republic, Valley, Delray , Florida, Alleghany, China

☆ A fund manager who's beaten 99% of his peers over the last 5 years warns stocks face 'destruction' as hype around AI stocks lifts valuations to dot-com-bubble levels
▼ + stars: | 2023-07-01 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

The S&P 500 is back within an earshot of its January 2021 all-time high as it rides what is now a 24% upward charge back into bull-market territory. And the founder of Smead Capital Management is betting his strategy work for him again when the hype around artificial-intelligence stocks sputters out. Smead Capital ManagementThat means bad news for the broader index when the episode is over, he said. Smead Capital ManagementSecond, the top seven stocks in the S&P 500 have a collective price-to-free cash-flow ratio near 70. Smead Capital ManagementAnd third, the tech sector of the S&P 500 is hitting valuation levels last seen during the dot-com bubble.

Persons: Bill Smead, you've, Smead, Mike Wilson, Morgan Stanley, José Torres Organizations: Morningstar, Smead Capital Management, Apple, Microsoft, Meta, Nvidia, RCA, Smead, Management, Interactive Brokers, Reserve

☆ Morgan Stanley's Mike Wilson says risks for a major market correction ‘have rarely been higher’
▼ + stars: | 2023-06-26 | by ( John Melloy | ) www.cnbc.com time to read: +1 min

Morgan Stanley believes a rapid stock market pullback is imminent. "S & P 500 is at risk of a near-term drawdown." Here are the risks Wilson references: Consensus earnings expectations that are much too high given the deteriorating economic environment. Wilson's fourth quarter S & P 500 target is 3,900, or 10% lower from its Friday close. The strategist is more optimistic about next year, seeing the S & P 500 rebounding to 4,200 in the first half of 2024.

Persons: Morgan Stanley, Mike Wilson, Wilson, Michael Bloom Organizations: Bank, CNBC

☆ A notorious market bear who called the 2000 and 2008 crashes says stocks are set to suffer 'profound' losses as valuations remain at historic extremes — and dismisses the current rally as a 'narrow an
▼ + stars: | 2023-06-24 | by ( William Edwards | ) www.businessinsider.com time to read: +8 min

It also doesn't offer a fair characterization of the entire S&P 500's performance. Hussman's preferred valuation measure is total market cap of non-financial stocks to total revenue of non-financial stocks. According to Bank of America, 80% of the S&P 500's returns over a 10-year period can be attributed to valuations. The red line in the chart below shows the gauge, while the blue is the S&P 500's price action. Predicted in April 2007 that the S&P 500 could lose 40%, then it lost 55% in the subsequent collapse from 2007 to 2009.

Persons: John Hussman, Hussman, hasn't, Morgan Stanley, Mike Wilson, David Rosenberg, Solita, 18.5x, it's, Jeremy Grantham, Jeremy Siegel, Siegel, Michael Kantrowitz, Piper Sandler, Piper Sandler Kantrowitz Organizations: Hussman Investment Trust, Bank of America, Rosenberg Research, UBS, University of Pennsylvania, Housing

☆ Morgan Stanley expects the stock market to plunge. Others aren't so sure.
▼ + stars: | 2023-06-21 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

An American flag hangs behind traders working on the floor of the New York Stock Exchange (NYSE) on October 11, 2019 in New York City. Morgan Stanley, for example, has adopted a downbeat view for the months ahead. Falling prices, Morgan Stanley explained, can cut into revenue growth and weigh on earnings. "This should begin to hit asset prices by the end of this month and carry into the fall," Morgan Stanley strategists said. To Stockton, the S&P 500 could soon trade as high as 4,510, or about 3% higher than current levels.

Persons: I'm Phil Rosen, Jerome Powell, Drew Angerer, Morgan Stanley, Mike Wilson, Katie Stockton, Stockton, Morgan Stanley's bearishness, Rick Bowmer, Tom Lee, Phil Rosen, Jason Ma, Hallam Bullock Organizations: Capitol, Financial Services, Committee, Fed, New York Stock Exchange, NYSE, Advance, Bank of England, Patterson Companies, Winnebago Industries, Bloomberg, Manheim Locations: American, New York City, Stockton, Salt Lake City, London, China, Europe, New York, Los Angeles

☆ The S&P 500 has entered a bull market, but will it last? Here's what 5 Wall Street experts are saying about the stock market's big rally.
▼ + stars: | 2023-06-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

The S&P 500 has pushed its way into a new bull market, but experts are torn over whether the rally can last. Though he previously predicted a 15% increase for the S&P 500, he's turned more bearish on the market as recession odds increase. Goldman SachsThe hype for AI is real and could lead the S&P 500 to climb higher this year, Goldman Sachs said. That could take the S&P 500 as much as 14% higher in the coming years, strategists said. The S&P 500 could end the year at 4,500, strategists predicted, implying around a 5% upside from current levels and a gain of about 17% for the full year.

Persons: —, David Rosenberg, Rosenberg, That's, Steve Marcus, Jeremy Siegel, Siegel, he's, Bloomberg Mike Wilson, Morgan Stanley, Morgan, Mike Wilson, Wilson, Cindy Ord, Tom Lee, Fundstrat, Goldman Sachs Organizations: Service, New York Fed, Rosenberg Research, Wharton School, Bloomberg, Corporations, Getty, CNBC

☆ 'Fundamentals still matter': A portfolio manager at a firm managing $17 billion warns stocks are due to sink 15% as AI hype fuels the current rally and drowns out recession alarm bells
▼ + stars: | 2023-06-17 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Stocks are once again in a bull market, with the S&P 500 now up more than 20% since October's lows. Nearly all of the recent rally can also be attributed to the index's top 10 stocks, he said. "During the late-90s tech bubble, over one-third of returns came from these mega-cap stocks," Wool said. "In the recent bull run, by contrast, almost the entire market return was accounted for by just ten companies' performance." A 15% decline would put the S&P 500 at 3,800.

Persons: Stocks, Rayliant's Phillip Wool, Wool, Phillip Wool, Solita, Louis, …, Lauren Goodwin, Morgan Stanley's Mike Wilson, it's, Morgan Stanley's Wilson, Piper Sandler's Michael Kantrowitz Organizations: UBS, LPL Financial, Conference, Federal Reserve Bank of St, Louis The Conference, Wool, Treasury, Federal Reserve, New York Life Investments, CME Group

☆ The Fed took a break from hiking rates for the first time in 15 months. Here's what to know.
▼ + stars: | 2023-06-15 | by ( Max Adams | ) www.businessinsider.com time to read: +5 min

If you missed yesterday's Federal Reserve decision — and how the market reacted — you've come to the right place. In this March 21, 2018, file photo, Federal Reserve Chairman Jerome Powell speaks following the Federal Open Market Committee meeting in Washington. The Federal Reserve releases minutes from the March meeting of its policymakers on Wednesday, April 11. US stock futures edge lower early Thursday after the Federal Reserve paused rate hikes but hinted there were more to come. The housing market is so tight right now because 90% of homeowners are already locked into low mortgage rates.

Persons: Jerome Powell, Carolyn Kaster, it'll, there's, Powell, Dow Jones, Morgan Stanley's Mike Wilson, Wilson, it's, Martin Puddy, that's, Elon Musk's, Goldman Sachs, Musk, JPMorgan's Marko Kolanovic, Max Adams, Nathan Rennolds Organizations: Federal, Federal Reserve, Bank, Fed, Bank of America Locations: Washington, Silicon, insider.com, Beijing, China, Detroit, New York, London

☆ MORGAN STANLEY: These 30 stocks with strong pricing power are immune to falling inflation and the damage it will do to profit margins
▼ + stars: | 2023-06-15 | by ( William Edwards | ) www.businessinsider.com time to read: +1 min

Falling inflation is bad for some stocks as it hurts margins, says Morgan Stanley. Analysts at the bank named 30 stocks most immune to falling inflation. This is because businesses have a harder time passing along higher costs, according to a recent note from Morgan Stanley. "As inflation declines, it becomes problematic for margins as pricing power declines while input costs are realized at a lag and come from a period when prices were higher." This in mind, the bank's analysts put together a list of stocks with the strongest pricing power — or the ability continue charging the same price no matter what the macroeconomic circumstances are.

Persons: Morgan Stanley, That's, Mike Wilson Organizations: of Labor Statistics, US

☆ Morgan Stanley's Wilson says this is not a new bull market and the Fed may reawaken the bear
▼ + stars: | 2023-06-12 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Investors shouldn't be so quick to believe the bear has left the stock market, Morgan Stanley warned. But he said investors shouldn't think the bear market has ended just yet, pointing specifically to the outlook for earnings as a reason to remain cautious. "With the S & P 500 rally now crossing the 20% threshold, more are declaring the bear market officially over," he said in a note to clients Monday. The 20% threshold has emboldened some market participants to "declare the official end to the bear market," Wilson said. He said the current bear market is similar to the market between 1946 and 1948, which also saw a boom-and-bust story.

Persons: Morgan Stanley, Mike Wilson, shouldn't, Jerome Powell, Wilson, Morgan, — CNBC's Michael Bloom Organizations: Federal

☆ Investors are eyeing China's neighbors as the recovery from 'zero-Covid' slows
▼ + stars: | 2023-06-12 | by ( Jihye Lee | ) www.cnbc.com time to read: +8 min

Bloomberg | Bloomberg | Getty ImagesChina's lackluster economic recovery since emerging from strict "zero-Covid" lockdowns has caused weaker sentiment toward the country, prompting investors to look for alternative options — like its near neighbors. Higher targets for JapanForeign investors have undoubtedly been key in driving the Japanese market, maintaining the highest levels the Nikkei has seen since 1990. During the same period last year, foreign investors had sold a net 1.73 trillion yen approximately. Wall Street banks including Morgan Stanley and Societe Generale are among those that are optimistic on Japanese stocks, holding "overweight" positions. Upside for Korea tech stocksSouth Korea is another market closely watched as concerns over China's recovery linger.

Persons: Goldman, Andrew Tilton, Berkshire Hathaway's Warren Buffett, India's, Goldman Sachs, Tilton, Morgan Stanley, ROE, Mike Wilson, we've, Price, Goldman's Tilton, Rhee Chang, Nomura, Chloe Andrieu, Pranjul Bhandari, Bhandari Organizations: Bloomberg, Getty, Asia, Pacific, Japan Foreign, Nikkei, Japan's Ministry of Finance, Societe Generale, Equity, U.S, UBS Global Wealth, U.S ., UBS, The Bank of, CNBC, Citi, AFP, Afp, Korea Financial Investment Association, South Korean, Fitch, Ben Advisors Locations: Macau, China, Japan, South Korea, India, Goldman Sachs, Berkshire, South, Shanghai, Shenzhen, Wall, Korea, Asia, The Bank of Korea, Fuyang, China's, Anhui, Indonesia

☆ 'This is typical late cycle behavior': New York Life Investments warns a recession is still barreling toward the US economy despite strong jobs data — threatening to sink stocks by 15-20%
▼ + stars: | 2023-06-10 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Historically, a median pullback in earnings would mean a 15-20% drop in the S&P 500. The Bureau of Labor Statistics announced on June 2 that the US labor market added 339,000 jobs in May — more than economists had expected. Historically, the Fed tightening cycle takes 18 – 24 months to impact the labor market." Madison Hoff/InsiderHistory shows a recession would mean a rough ride ahead for the stock market, Goodwin said. The median S&P 500 price target among major Wall Street strategists is 4,000, which is 7% lower than current levels.

Persons: Lauren Goodwin, Goodwin, Madison Hoff, Michael Kantrowitz, Piper Sandler, Piper Sandler Piper Sandler, it's, Kantrowitz, Morgan Stanley's Mike Wilson, David Rosenberg, —, Louis Organizations: York Life Investments, Labor Statistics, New York Life Investments, Rosenberg Research, Federal Reserve Bank of St

Search resuls for: "Mike Wilson"

25 mentions found