Tag Archives: Bank

U.S. stocks have had a rough start to the year after a standout 2021—and if history is any guide for what’s to come, things could get even worse from here. The S&P 500, which returned nearly 27% to investors last year, has been dragged down more than 15% year to date by rising interest rates, geopolitical tensions, persistent inflation, and a number of other bearish factors. The big question on most investors’ minds: How much further will stocks drop? Bank of America’s chief investment… Source link

(Bloomberg) — A drop below 4,000 index points for the S&P 500 will be a “tipping point,” which could potentially trigger a mass exodus from equities, according to Bank of America Corp. strategists. Most Read from Bloomberg Investors have already started fleeing stocks, with outflows from equity funds over the past three weeks adding up to the worst since March 2020, the strategists led by Michael Hartnett said, citing EPFR Global data. The average S&P 500 entry point for the “huge”… Source link

San Francisco Fed President Mary Daly told Yahoo Finance Live in an exclusive interview on Thursday that she sees the case for interest rates to move ‘expeditiously’ higher in order to pump the brakes further on surging inflation. And with the Fed growing increasingly hawkish in its endeavor to lower prices, uncertainty remains as to when month-over-month inflation will turn around. Deutsche Bank (DB) Wealth Management CIO for the Americas Deepak Puri believes that prices are currently at… Source link

U.S. stocks resumed losses on Thursday after a rally in the previous session on hopes for an earnings season boost to markets. Investors are digesting a flurry of mixed quarterly reports from Wells Fargo (WFC), Goldman Sachs (GS), Morgan Stanley (MS), and Citigroup (C). The S&P 500 fell 0.9%, heading towards another week of losses. The Dow Jones Industrial Average retreated from a slight advance earlier in the session to hover below the flatline. The Nasdaq Composite tumbled 1.7%, reversing… Source link

Bank of Canada Governor Tiff Macklem says inflation is too high and we need higher interest rates (REUTERS/Blair Gable The Bank of Canada is raising its target for the overnight rate by half a percentage point to 1 per cent. Canada’s central bank says it will also stop buying government bonds and begin quantitative tightening (QT), beginning April 25. The Bank of Canada also sharply increased its inflation expectations, saying Russia’s invasion of Ukraine is creating economic… Source link

JPMorgan Chase & Co. (JPM), the largest U.S. bank by assets, is the first among a lineup of mega banks to unveil first quarter results this week as earnings season kicks off. The company has been a strong outperformer in the banking sector, which lagged the broader market meaningfully this year amid concerns over U.S. bank ties to Russia and worries of an economic slowdown. Still, shares of JPMorgan are down 18.7% year to date. JPMorgan released its quarterly results Wednesday. Here were the… Source link

Small business owners often face hurdles trying to borrow money. Data from the Federal Reserve shows that 85% experienced financial difficulties in 2021. And during that time, more than half of owners who sought loans were looking to meet their operating expenses rather than to expand their businesses, the report found. In addition, small business owners are also feeling the sting of higher prices. Inflation in the country is now running at annual 7.9% for the 12-month period ended February,… Source link

Banks will kick off earnings season this week, with first-quarter results due out from a lineup of industry heavyweights led by JPMorgan Chase on Wednesday. The latest quarterly figures are expected to preface a lackluster year for bank profits despite the lift anticipated from higher interest rates. According to projections compiled by S&P Global Market Intelligence, U.S. bank earnings will fall by more than 8% in 2022 from last year, namely as the financial boost from releasing reserves… Source link

U.S. households — particularly low-income ones — are still sitting on a healthy pandemic nest egg, cushioning them for now against steep price increases on food and energy. That means that even with consumer prices forecast to have risen 8.4% in March, shoppers shouldn’t be running out of cash. That’s the finding of a new Consumer Checkpoint report from the Bank of America Institute, which showed debit and credit card spending rose 11% last month, or 6.7% on a per-household basis. The… Source link

A version of this post was originally published on TKer.co Deutsche Bank made waves on Tuesday when its economists became the first of the major Wall Street analysts to say the U.S. economy would soon go into recession. “Two shocks in recent months, the war in Ukraine and the build-up of momentum in elevated U.S. and European inflation, have caused us to revise down our forecast for global growth significantly,” Deutsche Bank economists, led by David Folkerts-Landau and Peter Hooper,… Source link