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...Thursday’s small gain left the S&P 500 up 10.2 per cent this year, while the Nasdaq Composite has added 9 per cent....
...The bank’s upgrade follows its forecast last week that Brent crude prices will hit $90 a barrel by the third-quarter....
...Contracts tracking Wall Street’s benchmark S&P 500 and the tech-heavy Nasdaq Composite were up 0.5 per cent and 0.6 per cent, respectively, ahead of the New York trading session....
...Stock markets in Asia were muted in early trading on Wednesday despite the US S&P 500 closing at a record high....
...Financial data company S&P Global is nearing a deal to buy research platform Visible Alpha for more than $500mn from a consortium of investment banks including Goldman Sachs, Jefferies and UBS, according...
...Financial data company S&P Global is nearing a deal to buy research platform Visible Alpha that could value it at more than $500mn from a consortium of investment banks including Goldman Sachs, Jefferies...
...The chart below from Goldman nicely illustrates, with actual results in light blue and prior estimates in dark green: Binky Chadha of Deutsche Bank has recently put out a more optimistic S&P earnings forecast...
...The S&P 500 closed at a record high, finishing a busy week of corporate earnings, central bank announcements and labour market data on a positive note....
...The blue-chip S&P 500 dropped 1 per cent, while the tech-heavy Nasdaq Composite fell 2 per cent....
...Wall Street’s benchmark S&P 500 was down 0.6 per cent shortly after the opening bell in New York. The tech-heavy Nasdaq Composite fell 0.8 per cent....
...“Markets have priced out lots of the Federal Reserve rate cuts they’d expected earlier in the year, but they’re still hopeful for the Bank of England and European Central Bank.”...
...“Just as a very limited number of stocks were responsible for the majority of gains in the MSCI USA, drawdowns in the top 10 [stocks] could pull equity markets down with them,” the bank added....
...The rest of the eurozone “saw the best performance . . . despite growth slowing slightly”, S&P said....
...Tech stocks, which played a leading role in propelling the S&P 500 to a record high in January, fell on Wednesday....
...The 10-year Treasury yield has risen 0.29 percentage points this year, while the two-year yield has added 0.2 percentage points as central bank officials pushed back on investor hopes that they would cut...
...Wall Street stocks continued their ascent on Tuesday, with the S&P 500 adding 0.5 per cent — edging closer to a record high....
...Even smaller stocks are finally catching up a little, with the Russell Midcap index (+4.3 per cent) and the Russell 2000 (+3.6 per cent) leading the Russell 1000 (+3.2 per cent) in March, notes Bank of America...
...The relative performance of the S&P 500 banks index compared with the broader benchmark is at its weakest since the bank-specific measure began in 1989....
...The Bank of Japan is likely to hold off from raising interest rates next week but investors expect the central bank to outline its response to rising inflationary pressures caused by the yen’s decline....
...Bank of America estimates that if interest rates stay at their current level, it will translate into a 32 per cent hit to earnings over the next five years....
...In February, the Bank of England forecast economic growth to remain stagnant at about 0.1 per cent in each quarter of 2024....
...This is likely to worry European Central Bank officials about the risk of persistent inflation that is making them wary of cutting borrowing costs too soon....
...The benchmark S&P 500 dropped 0.6 per cent on Friday, with 54 per cent of stocks falling, and tech the worst performer....
...The domestic stock market index, the ASE, is up almost 40 per cent over the past year, outperforming the S&P 500....
...It’s an important vote of confidence, and after sinking below $2 during the day, the bank’s shares closed above $3. The tricky thing is that profitability, not capital, is the bank’s biggest problem....
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