Wall Street
Bank of America calls this stock one of the ‘most compelling’ big lenders to own
This year’s stock sell-off hasn’t spared banks, with the KBW Bank Index down more than 20%, roughly in line with the decline of the broader S & P 500. Shares of big American banks have dropped despite rising interest rates, which help them boost the profitability of their core lending activities. That’s because investors are […]
Read More
A shallow recession is on the way, strategists warn. Here’s how it could play out
Traders work, as Federal Reserve Chair Jerome Powell is seen delivering remarks on a screen, on the floor of the New York Stock Exchange (NYSE) in New York City, June 15, 2022. Brendan McDermid | Reuters A shallow recession in the U.S. is a “virtual certainty” in the third quarter, according to Destination Wealth Management’s […]
Read More
Buy Dollar General shares as the likelihood of a recession grows, Morgan Stanley says
Dollar General is a defensive stock with “multiple ways” to outperform as the likelihood of recession grows, according to Morgan Stanley. Analyst Simeon Gutman upgraded shares of Dollar General to overweight, saying in a Thursday note that the defensive stock with offensive characteristics should get a boost amid greater inflationary pressures. “In a more prolonged […]
Read More
Billionaire investor Orlando Bravo warns there’s ‘more pain to come’ for the tech sector
Investors asking tech firms for a path to profitability are “not going to love what they see,” said Orlando Bravo, founder of buyout firm Thoma Bravo. Eva Marie Uzcategui | Bloomberg via Getty Images Private equity boss Orlando Bravo has a somber warning for the technology industry. “I think there’s more pain to come,” Bravo, […]
Read More
Boeing is a high risk buying opportunity that could soar 56% from here, Citi says
Boeing shares could soar 56% from here if the company’s three commercial aircraft programs maintain projected levels of profitability — though the buying opportunity is high risk, according to Citi. Analyst Charles Armitage upgraded shares of Boeing to buy/high risk from neutral, saying in a Thursday report that the outlook for the company’s 737 MAX, […]
Read More
Stock futures inch higher after Fed raises rates by most since 1994
U.S. stock index futures were modestly higher during overnight trading on Wednesday after the Federal Reserve implemented the largest interest rate hike since 1994. Futures contracts tied to the Dow Jones Industrial Average added 0.22%. S&P 500 futures were up 0.23%, while Nasdaq 100 futures advanced 0.29%. The major averages ended Wednesday’s session higher, with […]
Read More
Powell says the Fed could hike rates by 0.75 percentage point again in July
Federal Reserve Chair Jerome Powell. Xinhua News Agency | Xinhua News Agency | Getty Images Federal Reserve Chair Jerome Powell said Wednesday the central bank could raise interest rates by a similar magnitude at the next policy meeting in July as it did in June. “From the perspective of today, either a 50 basis point […]
Read More
Fed members predict more hikes with the benchmark rate above 3% by year-end
U.S. Federal Reserve Chairman Jerome Powell testifies during the Senate Banking Committee hearing titled “The Semiannual Monetary Policy Report to the Congress”, in Washington, U.S., March 3, 2022. Tom Williams | Reuters The Federal Reserve said Wednesday it expects the fed funds rate to increase by another roughly 1.75 percentage points over the next four […]
Read More
Wall Street is on a one way trip to misery until Fed hikes stop, market forecaster Jim Bianco warns
Until inflation peaks and the Federal Reserve stops hiking rates, market forecaster Jim Bianco warns Wall Street is on a one way trip to misery. “The Fed only has one tool to bring in inflation and that is they have to slow demand,” the Bianco Research president told CNBC “Fast Money” on Tuesday. “We may […]
Read More
Stock futures rise slightly as investors brace for a big Fed rate hike
Stock futures rose slightly in overnight trading Tuesday as investors anxiously awaited the Federal Reserve’s aggressive action to tame surging inflation. Futures on the Dow Jones Industrial Average gained 70 points. S&P 500 futures edged up 0.3% and Nasdaq 100 futures rose 0.4%. The S&P 500 suffered a five-day losing streak on Tuesday, dipping deeper […]
Read More