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JPMorgan Chase CEO Jamie Dimon has raised concerns about stagflation despite signs of easing inflation. Dimon highlighted ongoing risks such as rising deficits and government spending that could pressure inflation. The JPMorgan executive warned that the U.S. economy is not yet out of the woods and suggested the possibility of a recession remains significant. Jamie … Read more
Equities kicked off Friday on a quiet note, with little movement as the latest U.S. labor market report unveiled a softer-than-anticipated addition of 142,000 jobs for August. The data only adds to growing recession concerns, layering on top of several earlier signs hinting at an economic slowdown. Meanwhile, the 10-2 year Treasury yield spread has … Read more
On Tuesday, following a sharp downturn the day before, the top five U.S. benchmark indices made a recovery. However, Airbnb, the prominent vacation rental company, reported that it does not foresee a strong third quarter due to a slowdown in demand, driven by ongoing economic concerns. Meanwhile, Danielle DiMartino Booth, a former advisor at the … Read more
U.S. equities have joined the global downturn, following sharp declines across Asia and Europe, with Japan’s Nikkei suffering significant losses. By 11:15 a.m. EDT on Monday, the five major U.S. stock indices had fallen between 2.5% and 4.5%. This market turmoil has extended to crypto-related stocks such as Microstrategy’s MSTR and Coinbase’s COIN. The primary … Read more
Goldman Sachs analyst Scott Feiler warns of a bleak outlook for consumers as stagflation looms, with a bearish stance on consumer cyclicals and defensive stocks. Amidst the administration’s troubled Bidenomics, heavily indebted consumers face mounting pressures as pandemic savings dry up and economic growth falters. “Our desk is getting bearish on consumer and our soft … Read more
On Jan. 10, 2023, the World Bank published its Global Economic Prospects report, stating that the outlook for the global economy and future economic conditions is bleak. According to the report, 2023 growth forecasts have been cut across the board, with the global economy projected to grow by 1.7% in 2023 and 2.7% in 2024. … Read more
The U.S. Federal Reserve has raised the benchmark bank rate seven times during the course of 2022, leading many to question when the central bank will cease or change course. The Fed has stated that it aims to bring inflation down to the 2% target, and the increases to the federal funds rate are intended … Read more
