Goldman Sachs (GS) CEO David Solomon expects the stock market’s slide to continue in 2023 and thinks the odds of a recession hitting the U.S. economy are about 2-out-of-3. Speaking at the Wall Street Journal’s CEO Council Summit on Tuesday, Solomon said he expects stocks will be lower, along with oil and real estate (both commercial and residential), while the U.S. dollar is poised to rise slightly next year. Meanwhile, Solomon placed the probability of a “soft landing” — or a slowdown in… Source link
Read More »Goldman Sachs CEO David Solomon details ‘the big thing to watch’ in markets
Goldman Sachs chairman and CEO David Solomon thinks it would be wise for investors to pay extra attention to the path of corporate earnings in the weeks ahead. “I do see a little bit more market volatility — but I think the volatility at this point, the market is expecting,” Solomon said on Yahoo Finance Live at the firm’s 10,000 Small Businesses Summit (video above). “I think you’ve got to watch corporate earnings. And up to this point, corporate earnings have hung in reasonably well. But… Source link
Read More »China hits back at Australia over Solomon Islands ‘red line’, saying ‘the Pacific is not someone’s backyard’
China has slammed Australia for opposing its security pact with Solomon Islands, calling it a colonialist myth-driven violation of sovereignty and saying Canberra had no right to lay down any “red line”. This came as Australian Prime Minister Scott Morrison said a Chinese military base in the South Pacific nation would be a “red line” for his government, days after Beijing and Honiara confirmed the signing of the deal without revealing details. Talk of China building a naval base on Solomon… Source link
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