Morgan Stanley CEO James Gorman said deal-making activity will return as soon as the Federal Reserve stops hiking interest rates.
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David Solomon admits Goldman took on too much, too quickly in consumer business
„We obviously had a disappointing quarter and we tried to own that, you know, up front,“ Solomon told CNBC’s „Squawk Box“ Wednesday.
Stocks making the biggest moves premarket: United Airlines, Moderna, IBM and more
These are the stocks posting the largest moves before the bell.
Top business leaders and policymakers discuss the future of jobs at the World Economic Forum
Moderated by CNBC’s Geoff Cutmore, top business leaders discuss at Davos, Switzerland, the impact the green transition, technological advances, demographics and reorganized value chains could have on labor markets.
Naftogaz CEO says the Ukrainian state energy giant will be out of default soon
Naftogaz was the first Ukrainian government-owned entity to default since Russia invaded the country in February.
FTX says $415 million of crypto was hacked
FTX management updated its estimated asset recoveries to $5.5 billion, and offered a new breakdown of over $400 million worth of missing assets.
United results top estimates as demand remains resilient despite high fares
United Airlines‘ fourth-quarter profit topped Wall Street estimates thanks to strong demand and high fares.
German forecast reportedly to show economy narrowly dodging a recession this year
<p style=““ class=“text-align-justify“>Just be mindful that the sources cited are claiming that these are non-finalised figures, noting that the report is set to show the German economy narrowly escaping a recession with a growth of 0.2% in 2023. The forecast for 2024 shows a growth of 1.8%. Adding to that, inflation is expected to be at 6.0% in 2023 and 2.8% in 2024.</p><p style=““ class=“text-align-justify“>The full report will be presented next week on 25 January in any case. But as always when it comes to these sort of forecasts, it’s not so much about the numbers. This first draft will act as a benchmark for which the revisions later in the year will reflect economic and market sentiment relative to how expectations were set at the start of the year.</p>
This article was written by Justin Low at www.forexlive.com.
EUR/USD closes in on the week’s highs as dollar stays under pressure
<p style=““ class=“text-align-justify“>The euro was dented yesterday after a report came out suggesting that there might just be <a target=“_blank“ href=“https://www.forexlive.com/centralbank/ecb-sources-50-bps-at-the-next-meeting-and-then-25-bps-afterwards-20230117/“ target=“_blank“ rel=“follow“>one more 50 bps rate hike on the cards</a> left for the ECB. But it is recovering well now with the dollar feeling the heat in European trading, as we see EUR/USD rise up to 1.0860 levels at the moment:</p><p style=““ class=“text-align-justify“>The push higher closes in on the highs at the start of the week as the bullish breakout in <a target=“_blank“ href=“https://www.forexlive.com/terms/e/eur-usd/“ class=“terms__main-term“ id=“a68cd323-8af1-4ecb-a8dd-0aa83e90da63″ target=“_blank“>EUR/USD</a> continues to stay intact. The softer dollar today is but another contributing factor to the technical momentum as of late, which is better depicted through the weekly chart below.</p><p style=““ class=“text-align-justify“>As seen above, there is scope for the upside push to extend towards the 50.0 Fib retracement level of the downswing from 2021 through to September last year, sitting at around 1.0942. That will be a key point to watch before added resistance comes into play at 1.1000 next.</p><p style=““ class=“text-align-justify“>The euro sentiment today is also helped by Villeroy’s earlier <a target=“_blank“ href=“https://www.forexlive.com/centralbank/ecbs-villeroy-too-early-to-speculate-about-what-we-will-do-in-march-20230118/“ target=“_blank“ rel=“follow“>comments</a>, reaffirming that Lagarde’s earlier rate guidance still stands.</p>
This article was written by Justin Low at www.forexlive.com.
Eurozone December final CPI +9.2% vs +9.2% y/y prelim
<ul><li>Core CPI +5.2% vs +5.2% y/y prelim</li></ul><p style=““ class=“text-align-justify“>No change to the initial estimates but just keep in mind that while headline annual inflation did drop in the euro area, core inflation continues to pose a problem for the region. That’s indicative of price pressures seeping into the more prominent parts of the economy, not just in fuel and energy prices.</p>
This article was written by Justin Low at www.forexlive.com.