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Reuters
Goldman Sachs cuts 2022 target for S&P 500 by 16%
Analysts at Goldman Sachs wrote in a note late Thursday that the expected path of interest rates by the central bank is now higher than its previous estimate. “Based on our client discussions, a majority of equity investors have adopted the view that a hard landing scenario is inevitable and their focus is on the timing, magnitude and duration of a potential recession and investment strategies for that outlook,” wrote Goldman analyst David Kostin. The Fed indicated on Wednesday global policymakers would “keep at” their battle to beat down inflation, and hiked U.S. interest rates by 75 basis points for a third consecutive time and signaled borrowing costs would keep rising this year.
Bloomberg
BofA Says Cash Is King as Investor Pessimism Hits 2008-Era High
(Bloomberg) — Investors are flocking to cash and shunning almost every other asset class as they turn the most pessimistic since the global financial crisis, according to Bank of America Corp. strategists.Most Read from BloombergJapan to Restore Visa-Free Travel From Oct. 11 as Covid Pandemic Recedes South Korea President Caught on Hot Mic Insulting US CongressBank of England Says Paper Banknotes Only Good for One More WeekUnless Rents Rise, Housing Is Set Up for an Epic CrashA Great Copper Squ
TipRanks
‘It’s Time to Buy on the Dip’: Cathie Wood Snaps Up These 2 Stocks Under $10
On Wednesday, the Fed bumped up interest rates again, its third 75-basis point hike since June, and signaled that there could be two more such hikes by the end of this year. The conventional wisdom has the Fed acting properly, and aggressively, in an attempt to counter inflation raging at 40-year high levels. But conventional wisdom isn’t always right – and we can learn a lot by consulting the contrarians. Few top investors are more contrarian than Cathie Wood. The founder and manager of ARK Inv
MarketWatch
U.S. stocks open lower Friday, head for weekly losses after surge in Treasury yields
U.S. stocks opened sharply lower Friday, with all three major benchmarks heading for weekly losses in the wake of the Federal Reserve’s large interest rate hike and a surge in Treasury yields. The Dow Jones Industrial Average was down around 1% soon after the opening bell, while the S&P 500 dropped 1.1% and the Nasdaq Composite dropped 1.1%, according to FactSet data, at last check. The yield on the 10-year Treasury note was up 2 basis points Friday morning at 3.71% after climbing Thursday to th
CoinDesk
Fed’s Powell: Without Price Stability, the Economy Doesn’t Work For Anyone
Federal Reserve Chairman Jerome Powell holds a press conference to discuss the central bank’s latest interest rate decision. This is the third consecutive time that members of the Federal Open Market Committee raised rates by 75 basis points.
Investor’s Business Daily
How To Lock In $75,000 Worth of 9.62% Treasury I Bonds
You have just a few weeks to pounce on Treasury I bonds’ sky-high interest rate. Also called Series I savings bonds, their interest rate is 9.62%.
Insider Monkey
10 Most Shorted Stocks in September
In this article, we discuss the 10 most shorted stocks to watch in September. If you want to skip our analysis on short selling, go directly to the 5 Most Shorted Stocks in September. In the past two years, short squeezes have become a hot and a controversial topic on Wall Street. Reddit became a […]
Motley Fool
Before You Buy Chevron or Enterprise Products Stock: Here’s 1 Energy Dividend Stock I’d Buy First
Needless to say, this has investors — especially those looking for dividends — very interested in energy stocks right now. Two in particular are getting a lot of attention: Chevron (NYSE: CVX) and Enterprise Products Partners (NYSE: EPD). While both Chevron and Enterprise Products are strong companies (I own Enterprise Products, too), there are some characteristics of Phillips 66 that are very compelling.
