Markets

Fundstrat's Tom Lee is sticking with his bullish year-end stock market forecast even as yields soar and equities plunge amid sticky inflation

4 days ago   |   By Business Insider

Tom Lee. Brendan McDermid/Reuters Plunging stock prices, soaring interest rates, and sticky inflation are not enough to change Fundstrat's conviction on the market. Fundstrat's Tom Lee outlined why he still expects a year-end stock market rally in a Friday note. "Fed could do far less tightening as the market is doing Fed's work," he argued. Stocks are plunging, yields are soaring, and inflation remains sticky. Yet Fundstrat's Tom Lee remains resolute in his view that the stock market will soar into year-end. In a Friday note, Lee stuck with his thesis that the S&P 500 could rally to...
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The 2-year Treasury just touched its highest level since 2007 as aggressive Fed moves send bonds yields soaring

4 days ago   |   By Business Insider

A trader works on the floor of the New York Stock Exchange in New York, U.S., October 23, 2018. REUTERS/Brendan McDermid
The two-year Treasury yield hit its highest level since 2007 on Friday.
The jump in US bond yields follows another aggressive rate hike by the Fed this week.
The central bank has signaled that it can stomach an economic downturn if inflation comes down.
The two-year Treasury yield touched its highest level in 15 years on Friday, as aggressive moves by the Federal Reserve send bond yields soaring. The two-year Treasury, which is highly sensitive to economic policy moves...
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The Dow sheds 300 points and bond yields climb amid warnings about the global economy

4 days ago   |   By Business Insider

Mario Tama/Getty Images
US stocks dropped, with the Dow shedding more than 300 points to open Friday's session.
Goldman Sachs slashed its year-end S&P 500 target to 3,600 on expectations of a hard landing.
Meanwhile, Treasury yields climbed to their highest mark in over a decade on Friday.
US stocks tumbled Friday and bond yields continued to climb amid new warnings on the global economy. The Dow lost more than 300 points, and each of the major indexes face their fourth losing session in a row. S&P Global's Purchasing Managers' Index, a broad gauge of economic health, dropped to 48.2 in...
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A lawsuit is accusing Goldman Sachs of a 'culture of fear,' saying it mishandled claims of rape, sexual assault, and harassment of female workers in the 2000s

4 days ago   |   By Business Insider

The filings name three women who once worked for the bank among the 1,400 plaintiffs. AP
Former Goldman Sachs workers filed a lawsuit over sexual-misconduct allegations from 2000 to 2011.
They say the bank mishandled dozens of claims including rape and harassment at work.
A Goldman Sachs representative said the complaints did not "reflect reality."
Women who worked at Goldman Sachs more than a decade ago have come forward with a wave of public allegations against the bank, including claims that coworkers raped, sexually harassed, and discriminated against them. The women say Goldman...
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Russia plans to slash 40% of its natural gas flows - with Europe already facing an energy crisis from its cuts

4 days ago   |   By Business Insider

Russia will slash its energy export by 40% over the next three years, according to documents seen by Bloomberg. Christian Charisius/Reuters
Russia plans to cut its natural gas exports by 40% over the next three years, according to documents seen by Bloomberg.
Senior European officials have accused Moscow of trying to stoke the continent's energy crisis.
State-run energy giant Gazprom has been slashing flows to Europe through key pipelines for months.
Russia plans to slash its natural gas exports via pipeline by around 40% over the next three years, according to documents seen by Bloomberg...
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Gone are the days of chunky bonuses and salary increases. Wall Street's top brass are ready to trim their workforces as annual staff cuts return

4 days ago   |   By Business Insider

Hi. Aaron Weinman here. Performance reviews are back. Hiring has slowed. And Wall Street's most influential chief executives from Goldman Sachs' David Solomon to JPMorgan's Jamie Dimon are ready to cull under-performing staff. It's a shift from this time last year, when junior bankers scored significant pay bumps, dealmaking reached record-breaking highs, and investment bankers prepared themselves for some of the chunkiest bonuses they'd ever received. Per this story from Bloomberg, however, the layoffs should not be as severe as what Wall Street experienced after market crashes in 1987...
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Goldman Sachs cuts its S&P 500 forecast, says stocks will drop over 4% by the year's end as the Fed stays aggressive

4 days ago   |   By Business Insider

Federal Reserve interest rate hikes will weigh on stocks this year, Goldman Sachs warned. Richard Drew/AP Photo
Goldman Sachs on Friday slashed its end-of-year target for the S&P 500 to 3,600, a .
The Fed's aggressive approach to taming inflation will weigh on stocks, the bank said.
The benchmark US index has plummeted just under 21% as rising interest rates drive a sell-off.
Goldman Sachs has cut its year-end target for the S&P 500 , predicting the benchmark US stock index will fall 4.2% as the Federal Reserve sticks to its aggressive tightening. The Wall Street bank dropped the...
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