Economists may be on recession watch, but American Express (AXP) CEO Stephen Squeri says he still isn’t seeing spending trends that would suggest a downturn is in the cards. “We aren’t seeing recessionary signals,” Squeri told Yahoo Finance moments after the card giant’s fourth-quarter earnings hit the wires. AmEx saw fourth-quarter sales at its U.S. consumer services and commercial segments rise 23% and 15%, respectively. The credit card giant guided to full-year sales growth of 15% to 17%…. Source link
Read More »FedEx stock remains vulnerable to ‘recessionary headwinds’: analyst
FedEx remains at risk of laying several more earnings eggs in 2023, especially if the U.S. enters a recession, warns one Wall Street analyst. “FedEx pre-announced and lowered guidance in mid-September, with its earnings release and conference call one week later focused on cost controls amid a softer volume backdrop, particularly in its international business,” EvercoreISI Jonathan Chappell wrote in a note on Monday. “Although we expect most of these cost levers to be pulled, eventually… Source link
Read More »Vintage cars are ‘a compelling market’ amid recessionary environment: Bring a Trailer CEO
For car lovers out there who follow the classic car market, the exploding interest in auction site Bring a Trailer (BAT) has, to put it lightly, been a mixed blessing. On the positive, the site has on display hundreds of classic and enthusiast cars that one can peruse and bid (or dream of bidding) on. On the other hand fans decry the exploding values of once attainable cars, that they blame on the rise of Bring a Trailer. For BAT co-founder and president Randy Nonneberg, he’s just meeting… Source link
Read More »The yield curve may be sending a recessionary signal
Bond king Jeffrey Gundlach has a lot on his mind as it pertains to markets when Yahoo Finance sits down with the DoubleLine founder at length inside his California estate on the first trading day of 2022. China isn’t a great market to be investing in, contends Gundlach. Stock valuations as measured by the DoubleLine favorite the CAPE ratio appear too rich, says Gundlach. But it’s Gundlach’s warning on the path of the U.S. economy — in part caused by looming interest rate hikes by the… Source link
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