Huawei expects 9% revenue growth in 2023 - Reuters

BofA cuts Euro area inflation estimates

January 2, 2024 7:50 AM EST

Bank of America analysts cut their Euro area inflation forecasts in a note Tuesday after the recent moves in market prices and the last inflation print.

Ruben Segura-Cayuela, an economist at the bank, said the firm now forecasts headline inflation to average 5.5% in 2023, 2.3% in 2024 and 1.4% in 2025, from 5.6%, 2.6%, and 1.4%,... More

Here are the top investment themes to consider in 2024

December 29, 2023 2:36 PM EST

Argus analysts revealed their top ten investment themes for 2024 in a note to clients this week, noting that the start of 2024 "may be difficult."

Analysts at the firm believe the Federal Reserve keeping rates high, the economy flirting with recession, and geopolitical issues remaining unsolved are reasons why there could be challenges in the early part of next year. However, earnings growth is expected to accelerate to 8%-10% year-over-year during the first half.... More

JPMorgan expects non-farm employment to increase by 150,000 in December

December 29, 2023 10:59 AM EST

JPMorgan analysts said in a note to clients that they expect nonfarm employment to have increased by 150,000 in December, with the unemployment rate rising a tenth to 3.8%.

Analyst Daniel Silver told investors that the labor market has been adding jobs at a solid pace in recent months, with a variety... More

Mega-cap tech 'could actually work in January' - BofA

December 29, 2023 10:08 AM EST

In its active managers' holdings update note to clients Friday, analysts at BofA said they believe mega-cap tech "could actually work in January."

According to the bank, two in five active US large-cap funds are ahead of the benchmark in 2023, better than the average hit rate of 37%. The best and worst-performing funds of 2023 revealed... More

MNI Chicago PMI (Dec) 46.9 vs 50 Expected

December 29, 2023 9:45 AM EST

MNI Chicago PMI (Dec) 46.9 vs 50 Expected

... More

Wells Fargo says S&P 500 'will struggle to post gains early in 2024'

December 29, 2023 8:32 AM EST

Speculation about a "Santa Claus rally" dominates financial discussions every December, irrespective of the market's annual performance.

Along these lines, Wells Fargo strategists remind investors that the S&P 500 Index has already surged by almost 16% since late October and boasts a phenomenal 24% year-to-date increase.

Traditionally, the official timeframe for a Santa Claus rally is the week between Christmas and New Year's Day, a period we're currently in.

According to Stock Traders Almanac, December ranks as the third-strongest month for stock-market performance over the past 70 years.

The... More

SOFR Fixes At Record High 5.40% As Of Dec. 28: NY Fed - Bloomberg

December 29, 2023 8:01 AM EST

SOFR Fixes At Record High 5.40% As Of Dec. 28: NY Fed - Bloomberg

... More

Equity fund flow in 2023 driven by US and China ETFs - Citi

December 29, 2023 7:52 AM EST

There was a notable influx of $19.9 billion into equity funds in the week ending 12/27/2023, according to Citi equity strategists led by Chris Ma.

Bond funds also experienced positive momentum with a $6.8 billion inflow. The majority of the equity fund inflows, amounting to $18.8 billion, were directed towards US ETFs.... More

Wall Street ends slightly lower, capping blockbuster year

December 29, 2023 6:32 AM EST

By Stephen Culp

NEW YORK (Reuters) -U.S. stocks closed modestly lower on Friday, the last trading day of 2023, capping a robust year-end rally as investors eyed easier monetary policy in the year ahead.

The stock market has seen remarkable upward momentum in the closing months of the year, powering all three major indexes to monthly, quarterly and annual gains.

For the year, all three posted double-digit growth.

"On January of this year, 363 days ago, if I said I think the S&P is going to gain more than 20% in 2023, you would have put me... More