Wall Street Today | Chief Executives, Economists Brace for Recession as Davos Begins
MACRO
Chief Executives, Economists Brace for Recession as Davos Begins
The World Economic Forum's annual meeting began in Davos with corporate executives and economists warning a global recession is likely this year.
A separate survey of chief economists, released by the Forum, found two-thirds expect a worldwide recession in 2023 as businesses cut costs; 18% viewed such a downturn as "extremely likely."
Traders Wrong on Rate Cut Bets, BlackRock Says
"I don't see any chance, frankly, of easing this year — I think the market has got that wrong," Hildebrand, the former head of the Swiss National Bank said at the World Economic Forum in Davos.
While Hildebrand expects inflation to fall rapidly from multidecade highs, central banks globally will look to chase it down toward 2% and make sure prices expectations don't rear up again, he added. "At best we're going to see some sort of pause, but not yet."
SECTORS
US Dollar Shorts Become Favorite Trade as Fed Seen Slowing Hikes
The dollar's rally from an eight-month low could be fleeting as the growing view that the Federal Reserve will slow the pace of interest-rate hikes is likely to keep selling pressure on the US currency.
Goldman Sees 'Bullish Concoction' for Global Commodities
Commodities have the strongest outlook of any asset class in 2023, with a perfect macroeconomic environment and critically low inventories for almost every key raw material, according to the head of commodities research at Goldman Sachs Group Inc.
EVs Made Up 10% of All New Cars Sold Last Year
Electric-vehicle sales crossed a global milestone last year, achieving around 10% market share for the first time, driven mainly by strong growth in China and Europe, according to fresh data and estimates.
Global sales of fully electric vehicles totaled around 7.8 million units, an increase of as much as 68% from the previous year, according to preliminary research from LMC Automotive and EV-Volumes.com, research groups that track automotive sales.
COMPANY
Activist Investor Ryan Cohen Takes Stake in Alibaba and Pushes for More Stock Buybacks
Activist investor Ryan Cohen has built a stake in $Alibaba (BABA.US)$ Group Holding Ltd. worth hundreds of millions of dollars and is privately pushing the Chinese e-commerce giant to accelerate and further boost its share-repurchase program, according to people familiar with the matter.
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Japan to Impose a Mobile Game Tax on Apple, Google, and Other Tech Giants
The Japanese government reportedly plans to impose an obligation to pay consumption taxes on platform companies such as $Apple (AAPL.US)$ and $Alphabet-A (GOOGL.US)$, which operate between game creators and consumers by providing content on app stores.
Microsoft Faces EU Antitrust Warning over Activision Deal
$Microsoft (MSFT.US)$ is likely to receive an EU antitrust warning about its $69 billion bid for "Call of Duty" maker $Activision Blizzard (ATVI.US)$, people familiar with the matter said.
The European Commission is readying a charge sheet known as a statement of objections setting out its concerns about the deal which will be sent to Microsoft in the coming weeks, the people said.
Source: Bloomberg, Dow Jones, CNBC
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Harris6784u : not too sure about all this I'm still learning how it all works but not at the message came through about the possible recession I'm not too sure if this is a good idea other than gold and silver
agreeable Leopard_91 : Do you people post anything positive or is it the same redundant boring - shit that says the market is going down cuz wall Street is worried aww r they really worried if they got there balls out there mouth grew a Dic n act accordingly there would be no problem with the market get real
Harris6784u agreeable Leopard_91 : Damm, like it, that's straight up!