Stocks goldman sachs

Share to Twitter Share to Linkedin Topline With the stock market falling for the last six weeks in a row amid growing concerns about an economic slowdown and the Federal Reserve raising interest rates to combat inflation, an increasing number of Wall Street experts are warning of now “uncomfortably high” recession risks, with rising odds of a downturn within the next two years. Key Facts Markets moved lower again on Monday, struggling to rebound from a brutal selloff in recent months that has caused tech stocks to nose-dive and pushed the S&P 500 to the edge of bear market territory. Goldman Sachs became the latest major firm to slash its market outlook on Monday, citing higher interest rates and “slower economic growth than we previously assumed,” though stocks could still bounce back later in the year. Goldman chief economist David Kostin lowered his year-end price target for the S&P 500 to 4,300 from 4,700—implying roughly 7% … [Read more...] about Stocks Keep Tanking As Growing Number Of Wall Street Experts Warn About Rising Recession Risks

- A + A DUBAI/LONDON (May 17): Saudi Aramco is considering an initial public offering (IPO) of its trading arm amid a boom in oil prices in what could be one of the world's biggest listings this year, according to people with knowledge of the matter. The state-controlled oil major is working with banks including Goldman Sachs Group Inc, JPMorgan Chase & Co, and Morgan Stanley as it studies a potential listing of Aramco Trading Co, the people said, asking not to be identified as the information is not public. The trading unit could fetch a valuation of tens of billions of dollars, the people said, with two of them saying it could be potentially worth more than US$30 billion. Aramco, which recently became the world's most valuable company, could sell a 30% stake in the division, two of the people said, which would make it one of the world's biggest IPOs this year. South Korea's LG Energy Solution raised about US$10.8 billion in January. Other major oil … [Read more...] about Saudi Aramco said to weigh IPO of trading unit amid oil boom

- A + A NEW YORK (May 17): US retail sales grew at a solid pace in April, reflecting broad-based gains and suggesting demand for merchandise remains resilient despite rampant inflation. The value of overall retail purchases increased 0.9%, after an upwardly revised 1.4% gain in March, Commerce Department figures showed on Tuesday. Excluding vehicles and gas stations, sales rose 1% last month. The figures are not adjusted for inflation. The median estimate in a Bloomberg survey of economists had called for an 1% increase in overall retail sales from a month earlier and a 0.7% jump in the figure excluding autos and gas stations. Treasuries sold off after the report, while stock futures held gains and the dollar remained lower. "While the increase will look less impressive after taking price movements into account, today's data still suggests that the squeeze on household incomes from inflationary pressures isn't yet having a material impact on discretionary … [Read more...] about US retail sales show consumer standing firm in face of inflation