The group, historically known to have a bullish bent, spent most of this year saying US stocks would end lower in 2023. Instead, the S&P 500 Index rallied 16% in the first half.
Those are bold calls given that the S&P 500 ended Thursday at 4,330. The gauge has flailed since August as traders grow anxious over how the Federal Reserve will deliver an economic soft landing while embracing higher-for-longer interest rates. The bout of weakness came just as strategists at firms including Citigroup Inc. and Goldman Sachs Group Inc. got more optimistic on US equities after failing to predict gains in the first half of the year.The S&P 500 fell 1.
“American businesses and the economy — which in many ways are the same thing — are showing that 5% interest rates are not crippling to earnings or to growth or to an improving economic climate,” Ball said.The latest round of bullish forecast changes comes as Wall Street weighs the impact of trader sentiment on markets.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: Wall Street stays mixed, bond yields rise after FedNEW YORK (AP) — U.S. stocks are mixed Wednesday after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought, regardless of how much Wall Street wants it. The S&P 500 was 0.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Asian shares mixed after interest rates-driven sell-off on Wall StreetAsian shares were mixed on Friday after another slump on Wall Street driven by expectations that U.S. interest rates will stay high well into next year. Hong Kong and Shanghai advanced while Tokyo, Seoul and Sydney declined. U.S. futures edged higher and oil prices rose. Japan’s central bank kept its benchmark interest rate at minus 0.1%, as expected, but pledged flexibility in its policies. “Japan's economy is likely to continue recovering moderately for the time being, supported by factors suc
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Wall Street drifts again in the countdown to a Federal Reserve announcementNEW YORK (AP) — Stocks are ticking higher as Wall Street waits to see the Federal Reserve’s latest forecasts for where interest rates may be heading. The S&P 500 was up 0.
Source: SooToday - 🏆 8. / 85 Read more »
Asia Stocks Face Headwinds From Wall Street Slide: Markets Wrap(Bloomberg) -- Equity markets in Asia are likely to face selling pressure as worsening risk sentiment drove US stocks to session lows after the Federal Reserve signaled interest rates will be higher for longer. Most Read from BloombergVegas’ Newest Resort Is a $3.7 Billion Palace, 23 Years in the MakingFed Set to Pause Rate Hikes, But Don’t Count Out Another IncreaseTrudeau’s Murder Claim Risks Upending US Courtship of IndiaStocks Fall as Yields Rise on Fed’s ‘Hawkish Skip’: Markets WrapDollar R
Source: YahooFinanceCA - 🏆 47. / 63 Read more »