Credit Suisse shares slipped on Wednesday after Goldman Sachs downgraded the stock to „sell“ following credit rating downgrades from Moody’s and S&P.
Archiv für den Monat: August 2022
Fed’s James Bullard expresses confidence that the economy can achieve a ’soft landing‘
The Fed has a good chance of not tanking the economy and achieving a soft landing, St. Louis Fed President James Bullard said.
AMD beats on earnings and revenue, but third-quarter forecast comes in light
AMD currently has a significant market opportunity as its primary rival for PC and server chips, Intel, stumbles with execution.
PayPal jumps as Elliott Management says it has a $2 billion holding in the financial services company
PayPal stock has been cut in half in 2022, but it’s getting a vote of confidence from hedge fund Elliott Management, which is also a big Pinterest investor.
Robinhood cutting about 23% of jobs, releases second-quarter earnings
Robinhood CEO Vlad Tenev said Tuesday in a press release that the company will reduce its headcount by approximately 23%.
Starbucks earnings beat Wall Street estimates, fueled by U.S. demand for cold drinks
Shares of Starbucks have fallen 27% this year, dragging its market value down to $98.37 billion.
Airbnb stock slumps despite record-breaking bookings
Airbnb’s revenue jumped 58% year-over-year to $2.1 billion helping to drive the company’s most profitable second quarter to date.
OPEC+ said to agree on a 100k output increase for September
This article was written by Justin Low at www.forexlive.com.
Fed’s Bullard says still want rates to get to 3.75% to 4.00% this year
- There is still some ways to go to get to restrictive monetary policy
- Fed is following data very carefully, thinks that „we will get it right“
- Q2 slowdown was more concerning than Q1
- We’re going to move inflation back to 2% over time
There isn’t anything here from Bullard that hasn’t already been said but from the headline remark, he is alluding to at least a 50 bps rate hike in each of the final three FOMC meetings of the year. The Fed had toned down its aggressiveness after reaching neutral and markets will watch for any recessionary signals that could further dampen the mood in that sense. For now though, policymakers are adamant that they can keep on the path until year-end and that a ‚real‘ recession is not on the cards.
This article was written by Justin Low at www.forexlive.com.
OPEC+ JMMC recommends to raise oil output by 100k from September
In terms of how this will impact production for the bloc, it isn’t going to do anything. The members are well in compliance with current output levels already, so this will just continue to keep things as it is. If anything else, only Saudi Arabia and UAE are the two countries with any real spare capacity so that tells a lot about the situation involving OPEC+ at the moment.
Oil prices are responding well though as this could be a sign that OPEC+ are done with the moderate increases in output – which were aimed at appeasing the US perhaps. WTI crude oil is now up 1.4% on the day to $95.10.
This article was written by Justin Low at www.forexlive.com.