Category: Outlook
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Weekly Market Outlook (17-21 June)
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Upcoming events: Monday: People’s Bank of China (PBoC) Multilateral, New Zealand Services PMI, Industrial Production and Retail Sales in China, Eurozone Wage Growth. Tuesday: Reserve Bank of Australia policy decision, Eurozone ZEW, US retail sales, US industrial production. Wednesday: UK Consumer Price Index, US NAHB Housing Market Index, Bank of…
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Goldman Sachs Boosts S&P 500 Target on Upbeat Profit Outlook
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(Bloomberg) — Strategists at Goldman Sachs Group boosted their year-end target for the Standard & Poor’s 500 Index for the third time, reflecting Wall Street’s upbeat expectations for earnings growth and the U.S. economy. Most read from Bloomberg The bank’s equity strategists, led by David Kostin, now expect the benchmark…
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Oil’s ‘last hurrah’ is coming, Citi says in bearish outlook for global crude prices
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Slavko Sereda/iStock via Getty Images Oil futures rose on Wednesday despite an unexpected 3.7 million barrel increase in US crude inventories and the International Energy Agency’s forecast of a “spectacular” oil glut by the end of the decade. The International Energy Agency expects oil demand growth to peak by 2029…
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Oil’s ‘last hurrah’ is coming, Citi says in bearish outlook for global crude prices
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Slavko Sereda/iStock via Getty Images Oil futures rose on Wednesday despite an unexpected 3.7 million barrel increase in US crude inventories and the International Energy Agency’s forecast of a “spectacular” oil glut by the end of the decade. The International Energy Agency expects oil demand growth to peak by 2029…
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Weekly Market Outlook (10-14 June)
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Upcoming events: Tuesday: UK Labor Market Report, US NFIB Small Business Optimism Index. Wednesday: Japanese Producer Price Index, Chinese CPI, UK GDP, US CPI, FOMC Policy Decision. Thursday: Australian Labor Market Report, Swiss Producer Price Index, Eurozone Industrial Production, US Producer Price Index, US Unemployment Claims. Friday: New Zealand Manufacturing…
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Canadian dollar outlook dims on expected interest rate divergence By Reuters
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By Fergal Smith TORONTO (Reuters) – A Reuters poll showed that the Canadian dollar is set to rise less than previously expected over the next year if the Bank of Canada begins cutting interest rates before the Federal Reserve (US central bank) and the US election raises uncertainty. Concerning global…
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Dollar stands tall as traders mull Fed outlook; focus on ECB By Reuters
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Written by Amanda Cooper LONDON (Reuters) – The dollar stabilized on Monday, as investors accepted the idea that US inflation may have slowed enough to prompt the Federal Reserve to cut interest rates in 2024, while the euro remained calm ahead of an expected cut from the European Central Bank.…
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Weekly Market Outlook (03-07 June)
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Upcoming events: Monday: China Caixin Manufacturing PMI, Swiss Manufacturing PMI, Canadian Manufacturing PMI, US ISM Manufacturing PMI. Tuesday: Swiss Consumer Price Index, US job opportunities. Wednesday: Average monetary income in Japan, Australian GDP, China Caixin Services PMI, Eurozone PPI, US ADP, Canada Services PMI, Bank of Canada Policy Decision, US…
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Ulta Beauty reports growth and updates full-year outlook By Investing.com
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Ulta Beauty, Inc. (NASDAQ:) reported a 3.5% increase in net sales reaching $2.7 billion in the first quarter of 2024, with comparable sales growing by 1.6%. Despite a challenging environment, the company showed resilience with an operating profit of 14.7% of sales and a diluted earnings per share (EPS) of…
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Dick’s Sporting Goods stock surges on raised outlook, Bank of America upgrades to Buy By Investing.com
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(Updated – May 29, 2024 at 9:59 AM EST) Dick’s Sporting Goods (NYSE:) stock jumped more than 15% on Wednesday after the company reported a strong first quarter with earnings and revenue topping analysts’ expectations, prompting the company to raise its full-year guidance. The sporting goods retailer reported adjusted EPS…
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JPMorgan shares their 2024 outlook By Investing.com
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As we head into the second half of 2024, investors are keenly looking to currency movements for indications of how the forex market will shape up over the next few months. In this context, JP Morgan issued its forecasts for the US dollar. The bank’s analysis addresses various economic forces…
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Housing market outlook: Buyers are gaining the upper hand
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The U.S. housing market is now tilted in favor of buyers, who are resisting the higher home prices demanded by sellers, according to Robert Rifkin, co-founder and CEO of Compass. Tell CNBC on Wednesday 30% of inventory on the market has seen price declines, more than at any time in…
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Dollar down on profit taking but upbeat outlook remains By Reuters
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Written by Saqib Iqbal Ahmed NEW YORK (Reuters) – The dollar fell against most major currencies on Friday as traders took profits after recent gains, but the US currency remained well positioned to rise further, supported by strong US economic data that pushed markets back on interest rate expectations. Interest…
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Weekly Market Outlook (27-31 May)
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Upcoming events: Monday: UK/US Holidays, German IFO. Tuesday: Australian retail sales, Canadian producer price index, US consumer confidence. Wednesday: Australia Monthly Consumer Price Index, Fed Beige Book. Thursday: Swiss GDP, Eurozone unemployment rate, US GDP2Second abbreviation Estimate, US unemployment claims. Friday: Tokyo CPI, Japan Retail Sales and Industrial Production, China…
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Ethereum outlook bullish after ETF approval despite retreat
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Days after hitting a one-month high of $3,943, the price of Ethereum (ETH) has begun a correction. The initial surge came after the US Securities and Exchange Commission (SEC) approved applications from the Nasdaq and the New York Stock Exchange to list Ethereum exchange-traded funds. Although ETF issuers still need…
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Dogeverse Price Outlook as $15M Presale Enters Final Stage – Next Meme Coin to Explode?
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Cryptocurrency investors can’t seem to get enough of Dogeverse, the cross-chain coin that has taken the market by storm. As the record-breaking $15 million pre-sale enters its final stage ahead of stock exchange listings, speculation is running high. DOGEVERSE It could be the next joke that breaks. Dogeverse Pre-Sale Countdown…
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Sky Harbour Reports Positive Outlook in Q1 Earnings By Investing.com
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Sky Harbour (ticker not provided), a company specializing in airport infrastructure, reported a strong start to 2024 in its first-quarter earnings call. The company announced increased revenues, with expectations for further growth in the second quarter as their three campuses are fully leased. The CEO, Tal Keinan, detailed plans for…
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Weekly Market Outlook (20-24 May)
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Upcoming events: Monday: People’s Bank of China LPR, Waller Federal Reserve Bank. Tuesday: Reserve Bank of Australia meeting minutes, Canadian Consumer Price Index. Wednesday: Reserve Bank of New Zealand policy decision, UK CPI, FOMC minutes. Thursday: New Zealand Q1 retail sales, Australia/Japan/Eurozone/UK/US flash PMIs, Eurozone negotiated Q1 wage growth, and…
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monday.com soars on raised 2024 outlook
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Israeli business operating systems company monday.com (Nasdaq: MNDY) rose sharply on Wall Street after raising its annual forecasts for both revenue and profits and reporting strong results for the first quarter of 2024. The company reported first-quarter revenue of $217 million, up 37% from the corresponding quarter in 2023. GAAP…
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Evercore ISI offers outlook for fed funds rate in each scenario By Investing.com
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Although interest rates are at high levels, the economy has not weakened in the way many expected. In a research note, Evercore ISI examines the impact of the Fed’s fiscal policy on interest rates, noting that compared to the pre-Covid baseline, it is likely still stimulating the economy. In other…