[ad_1] Wells Fargo Securities is officially out with its 2024 stock market forecast. Chris Harvey, the firm’s head of equity strategy, sees a volatile path to his S&P 500 to 4,625 year-end target. “It’s really hard to get excited. If we have better [economic] growth, then the Fed doesn’t do anything,” he told CNBC’s “Fast Money” … Read more
[ad_1] The Nasdaq MarketSite is seen on October 12, 2022 in New York City. The Nasdaq Composite Index yesterday hit its lowest level since July, slipping into a bear market for the second time this year. (Photo by Michael M. Santiago/Getty Images) Michael M. Santiago | Getty Images The rapid growth in short-dated options that … Read more
[ad_1] A customer enters Comerica Inc. Bank headquarters in Dallas, Texas. Cooper Neill | Bloomberg | Getty Images A trio of regional banks faces increasing pressure on returns and profitability that makes them potential targets for acquisition by a larger rival, according to KBW analysts. Banks with between $80 billion and $120 billion in assets … Read more
[ad_1] Check out the companies making headlines in premarket trading. Alibaba — U.S.-listed shares of the Chinese e-commerce giant slipped 3.2%, adding to Thursday’s steep losses that were sparked by Alibaba announcing that it would no longer spin off its cloud computing business. Alibaba pointed to the U.S. export restrictions on advanced chips as justification … Read more
[ad_1] Despite recent encouraging signs on inflation, Boston Federal Reserve President Susan Collins said Friday that more interest rate hikes could yet be needed. “I understand the tendency to really enjoy good news, and there was some good news in some of the numbers — and I think that we need to appreciate that. But … Read more
[ad_1] Check out the companies making headlines in midday trading. Gap — The apparel retailer saw shares surge 30.6% after it posted fiscal third-quarter results late Thursday that beat Wall Street’s estimates due to strong sales at Old Navy and improvements at its namesake banner. Adjusted earnings of 59 cents per share smashed analysts’ expectations … Read more
[ad_1] It’s no secret that most consumers in China haven’t been in a mood to spend big. But what would get them to open their wallets is so far from reality that Jefferies analysts said Wednesday it’s up to companies to find ways to grow on their own. The analysts’ “random check” of consumers in … Read more
[ad_1] Legendary value investor Jeremy Grantham is betting on a special caliber of stocks with his firm’s first active ETF: the GMO U.S. Quality ETF. And he put GMO partner Tom Hancock in charge of it. “There’s a lot more interest in active ETFs than there was even a few years ago,” Hancock told CNBC’s … Read more
[ad_1] Chinese smartphone companies like Huawei are rebounding in their home market, giving a boost to domestic suppliers — and increasing the pressure on Apple . It’s a reflection of a geopolitically-driven shift in the tech industry. A clear takeaway from last week’s meeting of the U.S. and Chinese presidents is that American restrictions on sales … Read more
[ad_1] BARCELONA, SPAIN – MARCH 01: A view of the MasterCard company logo on their stand during the Mobile World Congress on March 1, 2017 in Barcelona, Spain. (Photo by Joan Cros Garcia/Corbis via Getty Images) Joan Cros Garcia – Corbis | Corbis News | Getty Images Mastercard is doubling down on its efforts to … Read more
