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““I think there is more pain to come. I expect the market to bottom out around 3,300. As interest rates indicate today, the Fed still has quite a bit of work to do,”” — Thomas Peterffy, chairman and founder of Interactive Brokers Thomas Peterffy, the chairman and founder of Interactive Brokers, shared some thoughts about … Read more
In a return to pre-pandemic practice of hiving off low-performing staffers from the bank, Goldman Sachs is set for a round of job cuts. The US investment bank is set to axe jobs in plans that could trigger the earliest layoffs as soon as next week, The New York Times reported, according to people familiar with the … Read more
With summer winding down, the U.S. stock market is set up for a potentially shaky fall. “Recession fears are the most likely trigger of a retest of the June lows,” said Ed Clissold, chief U.S. strategist at Ned Davis Research, in an Aug. 31 note. “From a seasonality perspective, a retest could come in the … Read more
Text size Fed Chairman Jerome Powell’s speech scheduled for Friday has hung over markets all week. Drew Angerer/Getty Images The stock market was falling Friday, as Federal Reserve Chairman Jerome Powell made hawkish remarks about monetary policy at the annual Jackson Hole Symposium, even in the face of declining inflation. After Powell’s comments, the Dow … Read more
Zar Amrolia started off as a quant at JPMorgan in 1988 when he was in his mid-20s. He drifted into trading and sales, with stints at Credit Suisse and Goldman Sachs, rose to the head of currency trading at Deutsche Bank and eventually became co-chief of XTX Markets. Amrolia will step down in early 2023. Soon to join … Read more
Text size Qualcomm is one of the 20 stocks on Goldman Sachs’ ‘margin of safety’ list. Pau Barrena /AFP via Getty Images Exxon Mobil , Qualcomm , Micron and Chevron are just some of the 20 “margin of safety” stocks Goldman Sachs recommends as macroeconomic and geopolitical headwinds have roiled U.S. stocks markets. The Russian … Read more
Commodity Futures Trading Commission chair Rostin Behnam told an audience at the City Week 2022 conference that regulators globally need to approach digital asset regulation in a “uniform manner”. “There are benefits for sure, but there are risks. I think we have to act collectively,” he said on 27 April at the conference, held at … Read more
Asked what he thinks the City should do to tackle racial inequality in the workplace, Nii Cleland, a former Goldman Sachs banker and co-founder of Flair Impact, has plenty of answers. In 2020, as the murder of George Floyd sparked global protests, Cleland and his cousin, Darrell Coker, watched corporates put out their responses. As the … Read more