(Bloomberg) — Amid cheers for emerging markets making a comeback, analysts and investors experienced another setback as US Treasury yields surged. Although the Federal Reserve is anticipated to end its aggressive monetary tightening campaign, investors are exhibiting optimism once again. Euphoria is taking over developing-nation assets, as indicated by the significant rally in stocks and …
Washington — George Santos, a former New York Republican Representative, was immediately removed from Congress on Friday after being indicted on multiple federal charges and receiving a damning report from the House Ethics Committee. Santos’ short-lived 11-month career in Congress was marked by scandal and controversy from the beginning. It included allegations of scamming $3,000 …
Investors Beware: Don’t Fall for the Hype Over AI Stocks The excitement around AI stocks in the market may be new, but the surge in high-flying tech names is nothing we haven’t seen before. In other words, buyer beware. Analysts warn that the meteoric rise of the “Magnificent Seven” signals troubling similarities to past market …
Sundry Photography/Shutterstock The CEO of Redfin, Glenn Kelman, believes the housing market has reached its lowest point, in spite of its dire condition. Mortgage rates and home prices are prohibitively high, negatively impacting affordability for potential homebuyers. Kelman forecasts a prolonged sales slowdown and the continuation of a grim market landscape. The only comforting aspect …
Google, Apple, Facebook, Amazon, and Microsoft logos displayed in front of an EU flag.JUSTIN TALLIS/AFP via Getty Images Mega-cap tech stocks have been the driving force behind the stock market’s gains in 2023, and they are anticipated to continue doing so in 2024. Goldman Sachs predicts that the top seven stocks in the S&P 500 …
According to Goldman Sachs economists, the U.S. Federal Reserve is expected to hold off on cutting rates until the fourth quarter of next year. They attribute this to stronger-than-expected economic growth, which is helping stave off a potential recession. In a note dated Sunday, Goldman’s David Mericle and the firm’s economics team noted that the …
Goldman Sachs’ outlook for 2024 is fairly upbeat, with the bank eyeing just a 15% chance of a recession.Lucky-photographer/Shutterstock Goldman Sachs said the economy and investing landscape is returning to a pre-2008 environment. Strategists said the global economy has outperformed expectations in 2023, and disinflation should carry on. Conditions are normalizing as the era of …
Good morning, Quartz readers! Here’s the latest news you need to know: 1. The US is investing $3.5 billion in upgrading the electrical grid to withstand extreme weather events like wildfires. 2. US president Joe Biden met with Israeli leaders but did not meet Arab leaders as planned, leaving questions about relief supplies entering Gaza. …
Good morning, Quartz readers! Here’s what you need to know. The US takes a new step in the chip war with China. The Commerce Department has expanded on last year’s export controls to prevent China from accessing advanced semiconductors. General Motors slows down production of electric pickups, while Stellantis cancels its January CES appearance. GM …
For over 50 years, I have dedicated my studies to the evolving relationship between white and Black Americans. My first scholarly article, published in 1972 while I was a graduate student at the University of Chicago, focused on Black political power in the industrial Midwest following the riots of the late 1960s. However, my personal …