When everyone expects a soft landing, brace for impact. That’s the lesson of recent economic history — and it’s an uncomfortable one for the US right now. A summer in which inflation trended lower, jobs remained plentiful and consumers kept spending has bolstered confidence — not least at the Federal Reserve — that the world’s … Read more
Shares of surged nearly 10% Friday to a new high as analysts raised their price targets on the private lender on the back of better-than-expected second quarter earnings. The stock closed at ‘900.25 on the BSE, up 8.96% from Thursday’s close, before touching an all-time high of ‘905 per share. A little more than six … Read more
Blame the Fed, war and fiscal profligacy all you want. But big trouble was lurking in many widely followed portfolio strategies long before those threats took hold. That’s the upshot of new research that uses a yield-derived valuation model to show the famous 60/40 allocation reached its most expensive level in almost five decades during … Read more
Credit Suisse Group AG’s Chief Executive Officer Ulrich Koerner said the bank is at a “critical moment” as it prepares for its latest overhaul, while stressing the bank’s strength. In the second carefully-worded memo sent to reassure staff in as many weeks, Koerner told employees not to confuse the “day-to-day” stock price performance with the … Read more
ET Intelligence Group: As the newly appointed CEO of Starbucks Inc, Laxman Narasimhan joins 25 other Indian-origin individuals that are CEOs of S&P 500 Index companies. Narasimhan was earlier the CEO of British FMCG major Reckitt Benckiser Group Plc. The S&P 500 index includes 500 leading companies that are listed on exchanges in the US … Read more
Wall Street ended lower on Monday after bank stocks erased earlier gains and Apple shares fell on a report saying the company plans to slow hiring and spending growth next year. After posting solid gains to start the session following earnings from Bank of America Corp and Goldman Sachs Group Inc, the S&P financial sector … Read more
A new ETF-for-everything era may have just begun on Wall Street, swelling an industry that already boasts nearly 3,000 products and $6.2 trillion in assets. The booming world of exchange-traded funds is about to get even more crowded after the very first single-equity ETFs launched Thursday — despite a torrent of regulatory warnings over their … Read more
The dollar’s relentless rise is threatening to trigger more outflows from Asia’s emerging-market shares, spoiling hopes of the region making a comeback in the second half. A gauge of Asian currencies has slumped to its lowest in more than two years, an ominous sign for equities given their strong relationship with moves in foreign exchange. … Read more
Bitcoin is on track for its worst quarter in more than a decade, as more hawkish central banks and a string of high-profile crypto blowups hammer sentiment. The 56% drawdown in the biggest cryptocurrency is the largest since the third quarter of 2011, when Bitcoin was still in its infancy, data compiled by Bloomberg show. … Read more
A selloff that saw US stocks sink into a bear market last week amid red-hot inflation data and a sharp Federal Reserve rate hike will likely ease in the second half, according to JPMorgan Chase & Co. “The call of peak Fed hawkishness got delayed, but it is not broken, for the second half,” strategists … Read more