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One corner of tech, software, might be seeing “limited appetite” from the market, according to Goldman Sachs. But the investment bank is optimistic. It listed several reasons for its bullish call: “a more constructive setup due to near record-low valuations … conservative management guidance that better aligns with investor expectations, and an inflection towards cost … Read more
The central China city of Taiyuan saw its GDP grow by 10.9% year-on-year in the first three quarters of 2022. Pictured here is a screen displaying details of a new factory in the city. Vcg | Visual China Group | Getty Images BEIJING — The Chinese economy of 2023 almost definitely won’t look like the … Read more
U.S. stock futures point to a bounce at the open after the S&P 500 had its worst week since September.
This image, from March 2022, shows wind turbines and gas storage facilities in Germany. Europe’s energy markets have experienced turbulence in recent months. Jan Woitas | Picture Alliance | Getty Images The CEO of Italian power firm Enel told CNBC Tuesday that turbulence in energy markets was likely to persist for some time. “Things are … Read more
Profit margins are getting squeezed as inflation remains at elevated levels, with a slew of companies — including Walt Disney , PepsiCo and Spotify — all warning of margin pressures, casting a pall over earnings growth in the quarters ahead. Patrick Armstrong, chief investment officer at Plurimi Wealth, believes this is the “biggest risk” for … Read more
An advertisement of the People’s Liberation Army overlooks a street scene in Beijing on the day Chinese President Xi Jinping and his U.S. counterpart Joe Biden hold a virtual summit, in Beijing, China, November 16, 2021. Thomas Peter | Reuters Stocks in Hong Kong and China rallied at the end of a volatile week last … Read more
A worker disinfects the Sanlitun shopping complex in Beijing in June as stores in the area were closed for three days after a Covid outbreak. There’s greater caution on China this year, as stringent Covid controls drag on and as growth takes a backseat. Analysts note longer-term trends of China’s reduced dependency on foreign investment … Read more
After more than two years of strict Covid-19 border controls, Japan reinstated visa-free travel to 68 countries on Tuesday. Maki Nakamura | Digitalvision | Getty Images The Japanese yen’s slump against the U.S. dollar has sparked some worry in Japan, but that could encourage more travelers to visit the country again, according to analysts — … Read more
OPEC+'s 2 million barrels-per-day oil production cut to boost prices. U.S. delivers an angry rebuke.
Goldman Sachs and Morgan Stanley were downgraded by Atlantic Equities on Wednesday, as concern grows over how investment banking activity could be affected by a potential recession. Research analyst John Heagerty downgraded Goldman Sachs to underweight from neutral and Morgan Stanley to neutral from overweight. Heagerty said the two banks specifically have few positive events … Read more