(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 the S&P 500 equity cap, the brokerage said in a note after markets closed on Friday.
"The... (continue reading...)
TOKYO (Reuters) - Economists remain split over the timing of the Bank of Japan's next interest rate hike, according to a new Reuters poll, after the central bank's decision to announce a quantitative tightening plan next month.
The BOJ said on Friday it would start trimming its bond purchases and announce a detailed plan on reducing its nearly $5 trillion balance sheet in July. It maintained its short-term policy target at 0%-0.1%.
Of the... (continue reading...)
By Artorn Pookasook and Juarawee Kittisilpa
BANGKOK (Reuters) - Thai lesbian couple Vorawan "Beaut" Ramwan and Anticha "An" Sangchai are patiently waiting for the passage of their country's same-sex marriage law so that they can cement their relationship after four years together.
"Once the law comes into effect, we will sign our marriage license," said Anticha, a university lecturer. "We've been waiting for this for a long time."
... (continue reading...)MOSCOW (Reuters) - The Russian trial of detained U.S. reporter Evan Gershkovich will start on June 26 and will be held behind closed doors, Russian state-run news agencies TASS and RIA reported on Monday, citing a Russian court.
Last week, prosecutors said the Gershkovich case would be heard by a court in the Urals city of Yekaterinburg, where the reporter was arrested in March 2023 on suspicion of espionage.
He denies the charges.
... (continue reading...)By Howard Schneider and Francesco Canepa
WASHINGTON (Reuters) - Six months ago the world's major central banks were primed for a move that anyone with a credit card or hoping to buy a home or run a business would cheer: A global shift to lower interest rates that would make borrowing cheaper and loans more available across the board.
Rate cuts are "a topic of discussion out in the world and also a discussion for us," Federal Reserve Chair... (continue reading...)
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