The S&P 500, the index obsessed over by investors, executives, and government officials, on Monday came close to finishing 20 percent above its lowest level of 2022, a gain that some on Wall Street see as the start of a bull market and a new… Read More »Is the Bear Market Over? It Depends.
(Reuters) – Morgan Stanley warns of a 16% drop in profit for S&P 500 companies this year, followed by a sharp rebound in 2024 when analysts say the Federal Reserve’s policy will become more accommodative. Strategists led by Michael Wilson said in a note on… Read More »Morgan Stanley sees slump in US earnings in 2023, sharp rebound next year
For those wondering when AI will start replacing human jobs, the answer is it already has. Artificial intelligence contributed to nearly 4,000 job losses last month, according to data from Challenger, Gray & Christmas, as interest in the rapidly evolving technology’s ability to perform advanced organizational tasks and… Read More »AI eliminated nearly 4,000 jobs in May, report says
Unexpectedly strong hiring across the US economy has piled pressure onto the Federal Reserve to raise interest rates later this summer if it skips an increase at its forthcoming policy meeting this month. Payrolls growth once again boomed in May, with nearly 340,000 positions added… Read More »Hot jobs market piles pressure on Federal Reserve to raise rates later this summer
(Reuters) – The U.S. Senate on Thursday passed bipartisan legislation backed by President Joe Biden that lifts the government’s $31.4 trillion debt ceiling, averting what would have been a first-ever default. The Senate voted 63-36 to approve the bill that had been passed on Wednesday by… Read More »US Congress averts historic default, approves debt-limit suspension
When we look at recent declines in tech valuations, it’s tempting to turn to prior down markets for guidance on how a recovery might play out. Over the past 25 years, two historic downturns stand out as possible comps. One is the financial crisis of… Read More »Downturns Recover In Years. Popped Bubbles Take Decades
Three years ago, at the onset of the COVID-19 pandemic, CPA decision-makers in business and industry were historically pessimistic about their own organizations. A year later, they were mostly optimistic, with 76% in the second quarter of 2021 expressing optimism about the year ahead. Today,… Read More »Pessimism, contraction plans rise for CPA decision-makers, survey shows
A phenomenon that defined the pandemic-era labor market is over: the Great Resignation — workers furiously quitting for new, likely higher paying jobs — is a thing of the past. Why it matters: The historic surge of quitters was a symptom of an on-fire labor… Read More »The Great Resignation is over, quit rates return to pre-pandemic levels
Bond traders look set to pivot from worrying the US wouldn’t raise its debt limit to fretting about what the increase means for money markets. The concern is that with a tentative deal pending, the Treasury will soon replenish its cash balance by selling more… Read More »Debt-Ceiling Relief May Be Short as Focus Turns to T-Bill Deluge
KEY POINTS Inflation stayed stubbornly high in April, potentially reinforcing the chances that interest rates could stay higher for longer, according to a gauge released Friday that the Federal Reserve follows closely. The personal consumption expenditures price index, which measures a variety of goods and… Read More »Inflation rose 0.4% in April and 4.7% from a year ago, according to key gauge for the Fed