Don’t count on a crash: Goldman Sachs expects ‘record highs’ to keep rolling, with these 3 stocks leading the way As inflation spikes and interest rates rise, many Wall Street firms believe a major correction could be on the horizon. Not Goldman Sachs. The bank expects the S&P 500 to hit 5,100 by the end of next year, roughly 9% above where the index is today. “Counter to the intuition of many investors, the stellar 26% YTD return is not a good reason in itself to expect a weak return in… Source link

Sweetgreen (SG) shares closed 76% higher — at $49.50 each — on their first day of trading on the New York Stock Exchange. The salad restaurant chain almost doubled its valuation during its public debut. Shares opened at $52 each after the IPO was priced at $28.  Sweetgreen sold 13 million shares, raising $364 million in the initial public offering.  The company has been expanding beyond urban areas into suburban communities. It also has a growing online order presence.  “We built out a… Source link

There is a story developing in the labor market, which has marked a significant shift in who is participating amid the ongoing pandemic.  Among the many stories are resignations, for various reasons, and the struggle to fill more labor-intensive jobs. It has resulted in an unprecedented demand for more highly-skilled, remote jobs, and those willing to work in lower-wage jobs are being paid significantly more than those who previously held the positions. ZipRecruiter chief economist Julia… Source link

The Biden administration’s pick for a top bank regulator role faced fire on Capitol Hill on Thursday, spending a good chunk of her nomination clarifying her views to a slew of hostile GOP senators — and at least a pair of Democrats — which left her confirmation prospects unclear at best. Saule Omarova, a law professor at Cornell Law School, testified to the Senate Banking Committee on Thursday for the head job at the Office of the Comptroller of the Currency. The OCC, which regulates… Source link

Amazon’s stock was priced at $18 when it went public in 1997. Today, the stock trades for more than $3,600 as the tech behemoth has cashed in on surging markets such as cloud services and online retail.  Veteran tech analyst Mark Mahaney of Evercore ISI thinks Uber (UBER) could be the next Amazon-like investment as it capitalizes on its own expanding market known as the on-demand economy.  “To me, Uber fits the bill of a still early stage company that has massive TAMs [total addressable… Source link

One of the latest chapters in the Facebook Files shows that despite large investments and improving technology, Facebook’s A.I. consistently fails to detect harmful content. Perhaps most strikingly, Facebook employees estimated that a whopping 99.4 percent of the content that violates the company’s policies against violence and incitement remains on the platform. The reason is that there is far too much to monitor by hand, so A.I. detection is essential—even though it… Source link

One in five Canadians plan to take advantage of Black Friday sales this year, a new Yahoo/Maru public opinion poll shows, with the younger cohort driving most of the shopping.  The survey found that 21 per cent of Canadians intend to purchase goods this upcoming Black Friday, which would be a pullback in shoppers versus last year, amid the uncertainty of the COVID-19 pandemic. According to the poll, 25 per cent of Canadians made a purchase in relation to Black Friday in 2020.  Younger… Source link

Supply chain woes continue to paint an increasingly bleak the picture for the trucking industry, said Jason Seidl, Cowen managing director of industrials — airfreight and surface transportation. Finding workers to drive trucks has increasingly been an issue in the industry, according to Seidl. “Clearly, we’ve had some problems hiring truckers lately,” he said in a segment with Yahoo Finance Live on Wednesday. “I’ve been around the trucking industry almost 30 years, and I’ve never… Source link

Sarah Tew/CNET When it comes to phones you don’t always need… Source link

Despite more than a few issues with the preorder process and shipping, Google’s Pixel 6 and Pixel 6 Pro have made their way into the world, and now the company is ready to sell an upgraded version of its Pixel Stand for wireless charging on your desk or side table. This new stand costs $79, just like the first-gen model did when it launched in 2018 with the Pixel 3. Like the original, it automatically adjusts the phone’s UI for docked use to pull up photo frames or shortcuts to your… Source link