Wall Street Today | Top Wall Street Bankers Warn of US, Europe Recession
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Top Wall Street Bankers Warn of US, Europe Recession
$Goldman Sachs(GS.US$ CEO David Solomon said economic conditions are going to "tighten meaningfully from here" as the Fed has made it clear it is going to raise to the path target for interest rates.
Franck Petitgas, head of international operations at $Morgan Stanley(MS.US$: "There's no question that 2023 looks a little dicey. It's pretty safe to say that the US is probably going to have some sort of landing that's not super soft.”
Franck Petitgas, head of international operations at $Morgan Stanley(MS.US$: "There's no question that 2023 looks a little dicey. It's pretty safe to say that the US is probably going to have some sort of landing that's not super soft.”
US Consumer Confidence Falls to Three-Month Low
US consumer confidence fell in October by more than expected to a three-month low as widespread inflation and growing concerns about the economic outlook weighed on Americans.
BofA's Client Flows Into Single Stocks Near Historic Levels
In the past three weeks, inflows into single stocks as a percentage of the S&P 500 Index's market capitalization were in the 99th percentile of history since 2008, according to BofA strategists led by Jill Carey Hall. Prior extremes like this were followed by above average returns for the equity gauge over the subsequent months and one year later, they said.
SECTORS
Diesel Shortage This Winter to Push Fuel Prices Higher, Goldman Warns
Diesel appears scarce heading into the northern hemisphere's winter and will push fuel prices higher, bedeviling policymakers who are focusing on crude to tame energy inflation, warned $Goldman Sachs(GS.US$ in a note to clients.
Housing Market Hits Brakes as US Prices Fall Most Since 2009
A measure of prices in 20 large US cities in August fell 1.3% on a month-over-month basis, the most since March 2009, according to the S&P CoreLogic Case-Shiller index. That's the second-straight month of declines.
COMPANY
Microsoft Earnings Fall, Stock Slides 6% as PC Demand and Strong Dollar Hurt Sales
$Microsoft(MSFT.US$'s revenue rose 11% to $50.1 billion in the three months through September compared with a year earlier, while its net income fell 14% to $17.6 billion. It was the worst quarterly net income decline Microsoft has reported in more than two years and the weakest revenue growth in over five years.
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Google Shares Fall 6% as YouTube and Search Ads Take Hit
$Alphabet-A(GOOGL.US$ results point to continued fragility for the digital-advertising industry. Some of Google's core properties, including YouTube and search, which have long been drivers of the company's overall performance, showed surprising weakness.
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Musk Tells Bankers He Plans to Close Twitter Deal on Friday
Elon Musk pledged Monday to close the acquisition of $Twitter (Delisted)(TWTR.US$ by Friday in a video conference call with bankers helping fund the deal, according to people with knowledge of the matter.
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Spotify's Loss Was Wider Than Expected. The CEO Talks U.S. Price Increase
$Spotify Technology(SPOT.US$ reported a wider-than-expected quarterly loss on Tuesday, but beat revenue expectations, as the music streaming platform forecast slightly weaker gross margin for the fourth quarter. The company is considering pricing increases in the U.S., with CEO Daniel Ek saying Spotify had "significant pricing power."
Source: Bloomberg, Dow Jones, CNBC, Yahoo Finance
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The Random Investor : Stocks To Buy Now That Will Make You Money In The Upcoming Stock Market Crash
70982327 : Idiots , we have been one "Recession" at least for 6 months at least!