Goldman, Travelers drag Dow lower as earnings season picks up
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JPMorgan Continues to See 25% Chance US Avoids Recession in 2023 or 2024
January 18, 2023 9:17 AM ESTJPMorgan analyst Nikolaos Panigirtzoglou comments "While there has been an improvement in sentiment towards risk assets given greater optimism over the soft-landing scenario, we are reluctant to chase the past few weeks rally as a lot of good news are already in the price. And while signs of declining inflation... More
Goldman Sachs clients slightly more optimistic on 2023 recession probability
January 17, 2023 11:39 AM ESTGoldman Sachs said on Tuesday that 57% of its clients expect a recession in the US in 2023, which is slightly more optimistic than consensus expectations.
The firm held its Global Strategy Conference for clients in London on Monday, where it polled over attendees.
The consensus suggests that the average recession probability stands at 65%, according to Goldman, who said the "relative bullishness" might be because the market has bounced so far this year, and there has been recent good news on the... More
Dow Jones, Nasdaq, S&P 500 weekly preview: Investors are positioning for a Fed pivot
January 17, 2023 7:38 AM ESTThe S&P 500 closed nearly 2.7% higher last week after softer-than-expected wage growth sparked a rally in risk assets. Inflation fell to 6.5% in December year-over-year, down from 7.1% in November and a 9.1% peak in June.
The index is now testing the key descending trend line that connects lower lows with many analysts pointing to this zone as a key resistance area for the S&P 500. Futures are trading nearly unchanged in pre-open Tuesday.
Nasdaq Composite Index (IXIC) rallied 4.8% to close above 11000 for the first time since early December. The index recorded the biggest weekly gain since November on the... More
