Tag Archives: recession

P&G CEO Jon Moeller sees robust business conditions despite the ongoing economic slowdown. “Strong core business. Very strong topline growth, organic sales up 7%, growth in ten out of ten categories in almost every market,” Moeller told Yahoo Finance Live (video above). “And we’re dealing with the significant headwinds from the combination of commodities, foreign exchange, transportation, and warehousing.” Asked about price increases, Moeller said: “The consumer is resilient.” Asked about his… Source link

Ark Invest CEO Cathie Wood doesn’t doubt that the U.S is in a recession. “The first two quarters of real GDP negative, to us, means we’re in a recession,” Wood said in an exclusive interview on Yahoo Finance Live. “We believe this recession will be sustained,” she added. Wood and her team of analysts say the economic contraction is going to be a function of an inventory overhang. “It’s going to be a serious inventory correction, but it’s not going to be anything like we saw like in ’08 or ’09,”… Source link

Premium-priced Corona and Modelo beers are darn near recession resistant, contends Constellation Brands CEO Bill Newlands. “Consumer demand has been very strong,” Newlands said on Yahoo Finance Live. “We have the benefit in this industry in this category of being somewhat recession resistant And we have seen no slowdown at a consumer level of purchasing against our brands.” To Newlands’ point, Constellation’s beer business — led by brands Corona, Modelo and Pacifico — outshined its wine… Source link

If there needs to be a U.S. recession to bring down inflation to appropriate levels, the Fed would be cool with that, says one Wall Street pro. “Unfortunately, yes [the Fed would be OK with a recession]. I’m going to say yes,” BMO senior economist Jennifer Lee said on Yahoo Finance Live. “And the Fed has sort of softened its tone a little bit over the past two months. They used to say that they could probably do this and achieve a softish [economic] landing. But now they’ve already said that… Source link

Investors should pray for a mild recession from the Fed’s aggressive interest rate hikes, according to Harvard University professor of economics and author Ken Rogoff, because it could get much worse. “The dollar is very strong, and interest rates are rising very fast,” Rogoff said on Yahoo Finance Live (video above). “So I think the idea that it’s going to be a really mild recession, if that, would be lucky. I’d say it’s going to be a tough trade-off for the Fed once the numbers start… Source link

(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window) * Tech, consumer discretionary pare back gains * Casinos jump as Macau allows tour groups after nearly 3 years * Indexes down: Dow 1.06%, S&P 0.99%, Nasdaq 0.53% (Adds comments, updates prices throughout) By Shreyashi Sanyal Sept 26 (Reuters) – Wall Street’s main indexes extended declines on Monday as investors continued to fret about the Federal Reserve’s aggressive policy tightening and its impact… Source link

(Bloomberg) — Economist Nouriel Roubini, who correctly predicted the 2008 financial crisis, sees a “long and ugly” recession in the US and globally occurring at the end of 2022 that could last all of 2023 and a sharp correction in the S&P 500. Most Read from Bloomberg “Even in a plain vanilla recession, the S&P 500 can fall by 30%,” said Roubini, chairman and chief executive officer of Roubini Macro Associates, in an interview Monday. In “a real hard landing,” which he expects, it… Source link

‘Bear down’ and ‘be as frugal as you can’: Baby-boomer financial experts speak from experience on ways to ride out a recession It was a time of big hair, shoulder pads and the Cold War. But something often less thought of when feeling nostalgic about the ‘80s, was the interest rates that were high enough to make you dizzy. “The interest rates started the decade around 20%,” says Brad Lyons, a certified financial planner and an investment manager at Wiser Wealth Management based… Source link

The overwhelming majority of corporate executives are bracing for a recession, according to a new survey. Nearly all 70 business leaders surveyed by Stifel Financial believe the U.S. economy is either already in a recession (18%) or will face one within the next 18 months (79%). Only 3% think one will be avoided entirely. “We’ve been hearing it consistently,” said Michael Kollender, head of consumer, retail, and diversified industrials investment banking at Stifel. “They believe that we are… Source link

JPMorgan CEO Jamie Dimon spoke to some of the bank’s wealthy clients on a call Tuesday, Yahoo reported.  He said there’s a 20-30% chance of a “harder recession” and equal odds of “something worse.” He described current risks as “storm clouds,” an apparent downgrade from his June warning of a “hurricane.” … Source link