(Reuters) – Goldman Sachs has raised its 2024 year-end target for the S&P 500 Index to 5,600 from 5,200 earlier, citing strong earnings growth by five mega-cap U.S. tech stocks and a higher fair value price-to-earnings ratio multiple. Microsoft, Nvidia, Google, Amazon.com, and Meta Platforms have collectively surged by 45% and now comprise 25% of …
Goldman Sachs raises S&P 500 year-end target to 5,600 Read More »
By David Randall and Lewis Krauskopf NEW YORK (Reuters) – Elevated U.S. interest rates are pressuring the U.S. retail sector, where shares of many companies have been dented by months of tight monetary policy while a select few have soared. The S&P 500 Consumer Discretionary Distribution & Retail index is up nearly 14% this year, …
Retail stocks search for direction as rates stay high Read More »
CAIRO/RIYADH (Reuters) -Saudi Arabia’s annual inflation rate remained at 1.6% for the third month running in May, government data showed on Sunday, with higher housing rents still the main driver. Housing rents rose 10.5% from a year earlier underpinned by a 14.3% rise in apartment rents, according to the General Authority for Statistics. Overall, prices …
By Marco Aquino and Aida Pelaez-Fernandez (Reuters) – Peru’s gross domestic product expanded 5.28% in April from a year earlier, the government’s INEI statistics agency said on Saturday, the highest rate in 32 months. The figure reversed the contraction logged in the prior month and was well above the 1.4% growth predicted by analysts polled …
Peru economy expands in April, highest growth in over 30 months Read More »
(Reuters) – Brazil’s President Luiz Inacio Lula da Silva said on Saturday he is open to analyzing Finance Minister Fernando Haddad’s spending cut proposals but emphasized that fiscal adjustments would not be made at the expense of the poor. Speaking at a press conference on the sidelines of the Group of Seven (G7) summit in …
Brazil’s Lula stands by finance minister but rejects spending cuts targeting the poor Read More »
ISTANBUL (Reuters) – Turkey’s economic programme is bearing fruit in terms of production, employment and exports, Turkish President Tayyip Erdogan said on Saturday in a video message to mark the Eid al-Adha holidays. “Turkey will get good results on inflation starting from the second half of the year,” Erdogan said, adding inflation will definitely be …
Turkey to reduce inflation to single digits, Erdogan says Read More »
By Ann Saphir (Reuters) -Federal Reserve Bank of Chicago President Austan Goolsbee on Friday said he was relieved after data this week showed inflation in May had cooled, but he would still like to see “more months” of similar data before cutting interest rates. “Inflation was back down to levels that, if we got …
Fed’s Goolsbee: ‘More months’ of good inflation data needed Read More »
By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Bank of Cleveland President Loretta Mester said Friday that the latest round of inflation data is good news for the economy and the central bank. After being higher than desired at the start of the year, “it is welcome to see that inflation is moving …
Fed’s Mester: Recent easing in inflation good news – CNBC Read More »
(Reuters) – Central bank decisions in Britain, Switzerland and Norway are expected to provide more evidence that the global rate cutting dash is slowing to a crawl, while retail sales data from the United States and China will provide a consumer health check. A supply crisis puts cocoa markets in the spotlight and Europe gears …
By Simon Johnson STOCKHOLM (Reuters) – The pace of Swedish inflation was higher than expected in May, data showed on Friday, but analysts said they saw inflation tracking down in the months ahead and that the central bank would continue to ease policy after a cut last month. Inflation, which peaked at over 10% at …
Swedish May inflation above forecast but more rate cuts expected Read More »
