Share of Americans living paycheck to paycheck jumped in 2022

Shoppers in San Francisco on Dec. 21, 2022. David Paul Morris | Bloomberg | Getty Images Months of high inflation have weighed heavily on households. As of December, 64% of Americans were living paycheck to paycheck, according to a recent LendingClub report — up from 61% a year earlier and in line with the historic high first … Read more

Dan Niles says he wouldn’t touch Apple going into earnings

Hedge fund manager Dan Niles said Monday that he wouldn’t invest in Apple heading into its quarterly earnings given the high valuation. “I wouldn’t touch Apple,” Niles said on CNBC’s ” Closing Bell ” Monday. “This company was not growing revenues in 2019 … and don’t forget smartphone unit sales for the entire industry was down … Read more

How analysts are playing gig economy stocks ahead of earnings

Wall Street will be following earnings from gig economy companies in the coming weeks to see if and how they’ve been impacted by pandemic recovery trends. But analysts aren’t fully aligned on how to play the sector. The 2022 selloffs underscored the challenges gig economy stocks have faced in recent years as novelty and venture … Read more

Berenberg upgrades Tesla, says price cuts are part of a broader strategy

Tesla is a beaten-down stock worth buying now following price cuts, according to Berenberg. Analyst Adrian Yanoshik upgraded the stock to buy from hold. Yanoshik lowered his price target by $55 to $200, which still implies a 12.4% upside from where the stock closed Friday. He lowered his earnings estimate by around 25% for 2023 … Read more

Sam Bankman-Fried tried to influence witness through Signal: DOJ

Former FTX chief executive Sam Bankman-Fried (C) arrives to enter a plea before US District Judge Lewis Kaplan in the Manhattan federal court, New York, January 3, 2023.  Ed Jones | AFP | Getty Images Federal prosecutors are attempting to bar indicted FTX co-founder Sam Bankman-Fried from using encrypted messaging software, citing efforts that may … Read more

Here’s what Intel’s terrible results mean for longtime rival and Club holding AMD

When Advanced Micro Devices (AMD) reports quarterly earnings next week, the Club holding’s results should not look nearly as bad as longtime rival Intel ‘s (INTC) dismal numbers. AMD’s quarter is unlikely to be perfect and may even be underwhelming in some areas. The semiconductor market — especially on the personal computer side where both … Read more

China’s reopening will boost these retail names, Wells Fargo says

Chinese shoppers are likely poised to hit the streets again during the country’s reopening, a positive tailwind for certain retail stocks, according to Wells Fargo. “With the Lunar New Year kicking off on January 21, we believe reopening against multiple quarters of easier regional compares will benefit companies with the largest exposure,” wrote analyst Ike … Read more

GDP beat, Tesla records, Macao recovery

My top 10 things to watch Thursday, Jan. 26 1. Bond prices getting killed, inversely yields rising, on low number of jobless claims, sign of a still-strong labor market. Fourth-quarter economic growth was 2.9% versus 2.8% expected . Price index in GDP report in-line but much lower rise than Q3. Wall Street rises, looking past … Read more

Some Wall Street analysts are predicting a market decline. Here’s when that might happen

As stocks continue their rally, several major financial institutions are now predicting a significant downturn in global markets. The S & P 500 index has risen by more than 10% since its lows in October last year. In Europe, the STOXX 600 has increased by more than 15% over the same period. But, according to … Read more