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The Goldman Sachs analysis also described Trump’s tariff announcement as “more reminiscent of the first Trump administration, when such tariffs were announced as a negotiating tactic.” Trump ultimately declined to impose some of his proposed tariffs. The unprecedented policy required migrants to stay in Mexico for the duration of their immigration proceedings in the United States. On the campaign trail, he frequently pledged to use tariffs as a negotiating tool to bend China and North American countries’ policies to his will. His advisers have acknowledged privately that tariffs could be more urgently slapped on Canada and Mexico, as Trump seeks to fulfill his campaign pledge to renegotiate his own free trade agreement. But Lutnick added that Trump wouldn’t seek to slap price-raising tariffs on goods that aren’t made in the United States.
Persons: Donald Trump’s, , , Goldman Sachs, Matt Priest, Trump’s, Trump, ” Trump, Stephen Miller, Mike Pence, Claudia Sheinbaum, ” Sheinbaum, Joe Biden’s, , Howard Lutnick, Lutnick, aren’t, ” Lutnick, it’s, CNN’s Matt Egan, David Goldman Organizations: CNN, Trump, Footwear Distributors, Retailers of America, General Motors, Stellantis, Ford Motor Company, North American Free Trade, Detroit Economic, CNBC Locations: Mexico, Canada, China, United States, North, America, , Washington, Mexican
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrade Tracker: Bill Baruch buys Goldman Sachs, Intercontinental Exchange & sell ChubbBill Baruch, founder and president Blue Line Capital, joins CNBC’s “Halftime Report” to explain why he's buying Intercontinental Exchange, Goldman Sachs, and selling Chubb.
Persons: Bill Baruch, Goldman Sachs, Chubb Bill Baruch, Chubb Organizations: Intercontinental Exchange, Blue Line
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPrivate equity is filling a need sports team owners have, says Goldman Sachs' Nicole Pullen RossNicole Pullen Ross, Goldman Sachs head of sports and entertainment, joins 'Squawk on the Street' to discuss where to find growth in sports.
Persons: Goldman Sachs, Nicole Pullen Ross Nicole Pullen Ross
Here are the biggest calls on Wall Street on Tuesday: Wells Fargo upgrades Eastman Chemical to overweight from equal weight Wells Fargo says the chemical company is "attractive." HSBC downgrades Goldman Sachs & Morgan Stanley to hold from buy HSBC said the risk/reward is a less attractive. KeyBanc reiterates Nvidia as overweight The firm says it sees "limited competitive risks" for Nvidia shares. Wells Fargo reiterates Starbucks as overweight Wells raised its price target on the stock to $115 per share from $110. Redburn Atlantic Equities reiterates Amazon as buy The firm raised its price target on the stock to $235 per share from $225.
Persons: Wells Fargo, HSBC downgrades Goldman Sachs, Morgan Stanley, Baird, Bernstein, KeyBanc, it's bullish, TD Cowen, Pinterest, Cowen, Wells, Guggenheim, Michael Kors, UAL Organizations: Eastman Chemical, UBS, HSBC, Royal Caribbean, Nvidia, Bank of America, Citi, Chevron, ExxonMobil, SPX, JV, China, Guggenheim, Capri Holdings, Barclays, Apple, and Department of Justice, Google, DoJ, UBS reinstates United, Alaska Airlines, Amazon Web Services, Anheuser, Busch InBev, GAP Locations: Caribbean, China, Delta, DAL
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump will be 'quick' to impose additional 20% tariff on Chinese exports next year, says GoldmanKinger Lau, chief China equity strategist at Goldman Sachs, says implementation of the tariffs could take place in the first quarter and that the Chinese authorities are likely to come up with countermeasures to address "external demand headwinds."
Persons: Goldman Kinger Lau, Goldman Sachs Organizations: Trump Locations: China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOil prices are now 'a touch too low' relative to inventory, says Goldman Sachs' Daan StruyvenDaan Struyven, Goldman Sachs head of global commodities research, joins 'Squawk Box' to discuss the state of the oil market, impact of energy policies from the incoming Trump administration on the market, production and price outlook, and more.
Persons: Goldman Sachs, Daan, Daan Struyven Organizations: Trump
"Artificial intelligence" and "job creation" aren't typically two terms thrown together in the same sentence — and for good reason. One report from Goldman Sachs in 2023 estimated 300 million full-time jobs could be lost to automation. Tens of millions of jobs are also being created by AI, with jobs that require AI specialist skills growing at 3.5 times the pace of jobs overall. CNBC met with three Singaporeans working with AI across multiple sectors, as they fought scams and fraud, developed large language models and designed chatbots. Watch the video above to learn how engineers are leveraging AI in their jobs – and why it's never too late for a career switch.
Persons: Goldman Sachs, 2016,1, Rajat Maheshwari, Mastercard Joel Garcia, it's Organizations: CNBC, & Intelligence Solutions, Mastercard, ASEAN, Amazon Leong, SEA Locations: United States, United Kingdom, Canada, Singapore
AdvertisementThe Fed will pause interest rate cuts through all of 2025, Deutsche Bank's chief US economist says. A strong economy and the inflationary impact of Trump's policies will offset the need for rate cuts, Matthew Luzzetti said. The Federal Reserve's easing cycle is closer to stalling than starting, at least according to Deutsche Bank. Chief US economist Matthew Luzzetti expects the central bank to pause interest rate cuts after a final quarter-point reduction in December. First, the US economy doesn't appear headed for an imminent slowdown, which dials back pressure on the Fed to prop up growth by lowering interest rates.
Persons: Matthew Luzzetti, Goldman, Luzzetti, Donald Trump, Goldman Sachs Organizations: Deutsche, Deutsche Bank . Chief, Bloomberg, Fed, Luzzetti, Citi Locations: China, Mexico, Canada
A handful of retail stocks stand to benefit more than others as the holiday shopping season gets underway in earnest on Black Friday, if history is any guide. Citigroup analyst Paul Lejuez also pointed to a encouraging consumer spending trends heading into Black Friday. "Overall, our survey paints a favorable picture for holiday spending," Lejeuz wrote late last week. Executives cited strong holiday shopping trends as a tailwind. The company's third-quarter earnings on Tuesday surpassed analyst estimates on the top and bottom line, while Abercrombie also raised its year-over-year sales guidance, signaling strong holiday shopping trends.
Persons: Goldman Sachs, Brooke Roach, Roach, Paul Lejuez, Lejeuz, Fitch, Abercrombie Organizations: Citigroup, CNBC Pro, P Retail, Body, Body Works, Abercrombie, Fitch Locations: Columbus , Ohio
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump’s tariff threats signal the start of a wild ride in currency markets, Goldman strategist saysKamakshya Trivedi, head of global foreign exchange, interest rates and emerging markets strategy research at Goldman Sachs, discusses the outlook for currency markets after President-elect Donald Trump pledges to implement tariffs on Mexico, Canada and China.
Persons: Goldman, Kamakshya Trivedi, Goldman Sachs, Donald Trump Locations: Mexico, Canada, China
The latest tariff proposal from President-elect Donald Trump would likely put upward pressure on inflation in the United States, according to Goldman Sachs. The core PCE, which strips out food and energy prices, is the preferred inflation reading of the Federal Reserve. A tariff-linked increase in core PCE could scramble the calculations around Fed rate cuts. To be sure, it remains to be seen whether the tariffs will actually be implemented at the levels Trump proposed — or what exceptions might be made. Some of Trump's advisors and supporters have characterized the tariffs he proposed during the campaign as a bargaining position rather than a set policy.
Persons: Donald Trump, Goldman Sachs, Trump, Jan Hatzius, Hatzius, Dow Jones, Jerome Powell Organizations: PCE, Federal Reserve, Trump Locations: United States, China, Canada, Mexico, U.S, PCE
The federal elections case led to a Supreme Court ruling granting a president limited immunity for official acts. This is likely to reinforce Trump’s belief that he will have almost unchecked authority and will therefore reverberate through the next four years and generations to come. And by voting the way they did, Americans effectively exonerated him in the federal cases — on charges that could have landed him in jail. Drew Angerer/Getty ImagesWhat the thwarting of accountability meansThere will be short- and long-term consequences from Trump escaping accountability. But he also portrayed Trump’s evasion of a trial as a dark day for America.
Persons: Jack Smith, Donald J, Trump, Trump’s, , , Smith, , Donald Trump, Drew Angerer, ” James, Julia Chatterley, “ It’s, Tanya Chutkan, Merrick Garland, Garland, , I’m, Steven Hirsch, ” Trump, ” Smith, Joe Biden, Dan Goldman, CNN’s Boris Sanchez Organizations: CNN, Trump, Capitol, Department, US, Hofstra University, CNN International, Democrat, Justice Department, Democrats, Democratic House, stoke, Republican Party, Republican, Manhattan Criminal, FBI, MAKE, New York Democrat, America, United Locations: United States, America, Washington ,, Washington, New York, Georgia, New York City, Florida
While economists say this holiday shopping season could ultimately be the most normal one (sales-wise) since before the pandemic, it’s also decked out with plenty of uncertainty. While it would set a new record as well (keep in mind, those figures aren’t adjusted for inflation), this holiday season might be a little more muted than last. A shortened holiday seasonA short shopping season, however, may force the hands of retailers who are looking to hold back on deep promotions. This year, there are 26 days between Thanksgiving and Christmas, marking the shortest holiday shopping season possible. Courtesy Dan MarshallMarshall remains quite optimistic that Mischief will enjoy yet another strong Black Friday, Small Business Saturday and, ultimately, holiday season.
Persons: It’s, it’s, , Neil Saunders, “ it’s, Frederic J . Brown, TJ Maxx, Scrooge ‘, Saunders, ” Franklin Bracken, Locker, Bing Guan, ” Bracken, Jeffrey Davidson, , ” Davidson, Shannon Grein, “ It’s, Seth Wenig, TransUnion, Charlie Wise, TransUnion’s, Wise, Brendan McDermid, Dan Marshall, Marshall, Dan Marshall Marshall, “ We’re, , they’ll Organizations: CNN, B Department, Jersey Shore, National Retail Federation, GlobalData, Getty, Walmart, Target, Goldman, Global Retailing Conference, Bloomberg, Black, University of Michigan, Reuters, November’s University of Michigan, University of Locations: Jersey, Las Vegas , Nevada, AFP, New York, New Jersey, Wells Fargo, Ramsey , New Jersey, Wells, New York City, Oxford, St, Paul , Minnesota
The October personal consumption expenditures price index report has many investors wondering how it may impact the postelection market rally. "It definitely threatens the dynamic of the market broadening because it jeopardizes the speed at which the Fed drops interest rates," Lee told CNBC. "Right now, the markets are pricing out interest rates one by one. Bill Baruch, president of Blue Line Futures, sees opportunities in the currency and bond markets if core PCE rate reaches 3%. "This PCE report and the expectation for a December cut are going to create quite a bit of volatility in fixed income," Ethridge told CNBC.
Persons: Dow Jones, William Lee, Lee, Jimmy Lee, Victoria Greene, Greene, Bill Baruch, Baruch, Malcolm Ethridge, Ethridge, Goldman Sachs, Russell Organizations: Core PCE, Milken Institute, CNBC, Traders, Wealth Consulting, Nvidia, Meta, Microsoft, Wealth, Blue, Capital Area Planning, U.S . Bancorp Locations: financials
Goldman Sachs sees gold prices rising to $3,000 by end of 2025
  + stars: | 2024-11-26 | 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 sees gold prices rising to $3,000 by end of 2025Daan Struyven, co-head of global commodities research at Goldman Sachs, said that a key driver for gold prices is central bank purchases.
Persons: Goldman Sachs, Daan Struyven
The Wall Street firm set its 2025 S & P 500 target at 6,666, which implies an 11% upside from current levels. .SPX YTD mountain S & P 500 In particular, BofA said it is bullish on financials, discretionary, materials, real estate and utilities. The firm expects bank stocks to benefit from a return in merger and acquisition activities as well as optimism around deregulation under a Donald Trump administration. Deutsche Bank sees the S & P 500 hitting 7,000 in 2025 on the back of rising risk appetite. Goldman also projected an 11% S & P 500 return for next year.
Persons: Savita Subramanian, BofA, Donald Trump, Goldman Organizations: of America, BofA Securities, Wall, Deutsche Bank, UBS
President-elect Donald Trump's vow to implement additional tariffs on China, Canada and Mexico on day one of his presidency signals the start of a wild ride in currency markets, strategists say, warning it would be risky for investors to underestimate the impact on foreign exchange rates. The announcements prompted a knee-jerk reaction in currency markets, with the U.S. dollar rising more than 2% against the Mexican peso and notching a four-year high against the Canadian dollar . "I think the first reaction here is that investors should get ready for a wild ride in FX volatility," said Kamakshya Trivedi, head of global foreign exchange, interest rates and emerging markets strategy research at Goldman Sachs . The index closed 0.6% lower in the previous session as investors welcomed hedge fund manager Scott Bessent as Trump's pick for U.S. Treasury chief. "This is going to be something that we are all going to have to get used to.
Persons: Donald Trump's, Trump, Kamakshya Trivedi, Goldman Sachs, Scott Bessent, Trivedi, CNBC's Organizations: U.S, Canadian, Goldman, The U.S, Treasury Locations: China, Canada, Mexico
CNN —President-elect Donald Trump on Monday promised massive hikes in tariffs on goods coming from Mexico, Canada and China starting on the first day of his administration. What America importsThe United States’ top import from Canada is oil, which reached a record 4.3 million barrels per day in July, according to the US Energy Information Administration. The United States imports a significant amount of electronics from China, in addition to machinery, toys, games, sports equipment, furniture and plastics. The Trump tariffs also hit foreign steel, aluminum, washing machines and solar panels. He did just that when he was last in the White House, placing large tariffs on goods, primarily from China.
Persons: Donald Trump, Trump, ” Trump, , , Liu Pengyu, ” Liu, Dow, Karl Schamotta, United Nations ’, It’s, Scott Bessent, Bessent’s, Trump’s, CNN’s Matt Egan, Jack Forrest Organizations: CNN, United, Embassy, United States, Canadian, Nasdaq, Treasury, America, US Energy Information Administration, United Nations, Commerce Department, Peterson Institute for International Economics, Senate, Commerce, US Trade Representative Locations: Mexico, Canada, China, , United States, United, America
Binky Chadha, Deutsche Bank chief global strategist, set a year-end 2025 target for the S & P 500 of 7000, which would translate into a 17% gain from current levels. "We see S & P 500 buybacks rising from an annual run rate of $1.1 trillion currently to about $1.3 trillion next year, rising in line with earnings. .SPX YTD mountain S & P 500 The S & P 500 is looking to wrap up a strong 2024 with a bang, thanks to optimism toward President-elect Donald Trump 's market-friendly policies. For 2025, Deutsche Bank sees stronger growth in the U.S. on the back of potential tax cuts and a deregulation push under the incoming Trump administration. Deutsche Bank is not the first Wall Street firm to release a rosy equity outlook after the presidential election.
Persons: Binky, Chadha, Donald Trump, Trump, Goldman Sachs Organizations: Deutsche Bank, Fed, UBS Locations: U.S
Here are Monday's biggest calls on Wall Street: Bernstein reiterates MicroStrategy as outperform The firm raised its price target on the stock to $600 per share from $290. " Morgan Stanley upgrades Banco Santander to overweight from equal weight The firm said the bank has a "resilient regional footprint." Morgan Stanley upgrades Robinhood to overweight from equal weight The firm said Robinhood is a Trump election beneficiary. Morgan Stanley upgrades KinderCare to overweight from equal weight Morgan Stanley said shares are compelling at current levels for the daycare company. Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's survey checks "reinforce [the] multi-year iPhone upgrade thesis."
Persons: Bernstein, MicroStrategy, Morgan Stanley, Oppenheimer, Robinhood, Trump, HOOD, it's, Telsey, Apple, Goldman Sachs, Berkley, it's bullish, Tesla, TD Cowen, D.A, Davidson, Rosenblatt, Wedbush, Palantir, PLTR, Wolfe, Jones Lang Lasalle Organizations: Banco Santander, Caixabank, ING, Citi, U.S, Bancorp, UBS, Arm Holdings, BMO, Apple Intelligence, CVS, Bank of America, Shoals Technologies, Procter, Gamble, China, China EV, Nvidia, FedEx Locations: Santander, China
AdvertisementInterest rate cuts and stable GDP growth boost market optimism for 2025. But AI-driven stock market gains may not sustain, with S&P 500 returns possibly muted. Goldman Sachs advises diversifying investments, focusing on value stocks and foreign markets. An earlier note from Goldman Sachs projected that the S&P 500 could have muted returns at 3% annually for the next decade. AdvertisementFinally, consider growth stocks that aren't pegged to technology, such as Eli Lilly, Honeywell International, Vertex Pharmaceuticals, and Chipotle, among others.
Persons: Goldman Sachs, Donald Trump's, it's, Peter Oppenheimer, Goldman, Eli Lilly Organizations: Honeywell, Vertex Pharmaceuticals, American Locations: Japan, Europe
The S & P 500's rise to fresh heights in the new year will not be in a straight line, according to RBC Capital Markets. Strategist Lori Calvasina issued a year-end 2025 target for the broad market index of 6,600. The S & P 500 has rallied 3.2% since Donald Trump secured a second presidential term, raising expectations of lower taxes and deregulation. To be sure, Calvasina thinks there will be 5%-10% correction in the near term before equities resume their march to all-time highs. Last week, Goldman Sachs set a 6,500 target for the S & P 500, while BMO issued a forecast for the benchmark index to surge all the way to 6,700 .
Persons: Lori Calvasina, Donald Trump, Calvasina, Goldman Sachs, Bernstein Organizations: RBC Capital Markets, Health, BMO Locations: Friday's, Bitcoin
Just seven stocks have fueled much of the market's rally: Amazon, Apple, Alphabet, Microsoft, Meta, Nvidia, and Tesla. Move over, Magnificent SevenAfter an incredible two-year rally, it's may be difficult to see the Magnificent Seven cooling off. For context, the Magnificent Seven outperformed the rest of the S&P 500 by 22% so far this year and 63% in 2023. "And so our analysis is there's potential for multiple expansion in those stocks," Kostin added. To find companies likely to see enhanced revenues from AI, Goldman Sachs analyzed recent messaging from company management regarding AI rollout.
Persons: Goldman Sachs, Tesla, David Kostin, Kostin, That's, Goldman Organizations: Microsoft, Meta, Nvidia, Digital Realty
The U.S. electric grid needs a total body makeover. With Duke Austin, a fourth-generation lineman, at its helm, Quanta Services has a long history in electric power infrastructure. The backbone of the electric grid Transmission and distribution is the backbone of the electrical grid, delivering power from generation sites to consumers. PWR YTD mountain Quanta Services shares year to date MasTec MasTec has been in comeback mode. MYR Group Goldman expects MYR Group is well positioned for 2025.
Persons: Neil Mehta, Goldman Sachs, weren't, Goldman, Mehta, Duke Austin, Carly Davenport, Davenport, Austin, Goldman's Mehta, they're, MasTec, Jose Mas, MasTec's, Truist, Jamie Cook, McCoy, Cook, Ati Modak, Modak, MYR Organizations: U.S, Edison Electric Institute, MYR, CNBC, Management, MYR Group Locations: U.S, Austin
Goldman Sachs highlighted a slate of stocks that are worth snapping up as December approaches. CNBC combed through Goldman research to find buy-rated names the firm says are must owns heading into the end of the year. Pinterest Pinterest is also firing on all cylinders, analyst Eric Sheridan wrote recently. In addition, the firm sees revenue upside with user engagement remaining strong. ... .Based on after-hours pricing, we find PINS stock as one of the most compelling risk/reward skews in our coverage universe."
Persons: Goldman Sachs, Goldman, Noah Poponak, Poponak, Bonnie Herzog, Herzog, Pinterest Pinterest, Eric Sheridan, Pinterest, Sheridan Organizations: GE Aerospace, Monster Beverage, CNBC, GE Aerospace GE Aerospace, Aerospace, Management
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