economy

A macro hedge fund investing chief expects a 42% correction in the S&P 500 to play out within a year. He lays out 5 ‘substantial risks’ lurking in the market – and the best way to position for the…

One of Wall Street’s most bearish analysts turned exceedingly bullish two weeks ago. Wells Fargo’s Christopher Harvey upgraded his bearish S&P 500 price target of 3,850, which he set in late 2020, to 4,825, representing an increase of 6.7% from the S&P’s current level of around 4,525. Harvey joins a number of strategists upgrading their … Read more

Banking, telecom driving growth: HCL chief

HCL Technologies is seeing higher spends on retail banking modernisation in the US, and in the technology and telecom verticals. These helped the firm report a constant currency growth of 11.7% in the first quarter, its CEO & MD C Vijayakumar said. “Banking clients in the US are also spending in the regular areas of … Read more

Retail inflation at 16-month low, factory output up 1%

Retail inflation slowed to a 16-month low in January on the back of cooling of some food items, while industrial output growth clawed back into positive territory in December, bringing some cheer for an economy battling a record slump due to the impact of the deadly pandemic. Data released by the National Statistical Office (NSO) … Read more

Adani refutes Swamy’s tweet allegations, claims “impeccable” credit record

The Adani Group Sunday refuted allegations levelled by BJP politician Subramanian Swamy that it owes Rs 4.5 lakh crore as NPA to banks and claimed it has maintained an “impeccable record of not a single NPA in the three decades of its existence”. “The Adani Group strongly objects to a factually incorrect tweet posted by … Read more

Morgan Stanley is warning that the stock market’s economic recovery trade may soon be over. Here are 4 strategies they recommend for finding the returns that still exist.

Investors have shifted into cyclical assets lately as COVID-19 vaccines are on the way and the economy gets set to recover. But Morgan Stanley’s Mike Wilson is warning that valuations are getting too high, and that a near-term pullback may in the cards. He laid out four strategies to still find returns in cyclicals. Visit … Read more

Jefferies outlines the overlooked measure of corporate profitability that’s pointing towards bigger stock gains ahead

Jefferies says profit margins are indicating at least one extra quarter of improvement is ahead for stocks. The “shock drop” in margins in the second quarter is rebounding just as quickly as the third quarter earnings did, the bank’s equity strategist said. He added that the lack of a blue wave election outcome and subsequent … Read more

A Wall Street chief strategist details 8 ways today’s economy mirrors the 1980s recession recovery — and how it can lift stocks even higher

The inflation surge seen four decades ago kicked off “a fabulous ‘disinflationary,’ two-decade performance in both the economy and the stock market,” he wrote in a recent note. With policymakers setting the stage for a rise in inflation, the US is on track to usher in a similarly fruitful expansion, the strategist added. Detailed below … Read more

U.S. economy shrank at record-breaking 33% rate last quarter

By far the worst quarterly plunge ever — when the viral outbreak shut down businesses, throwing tens of millions out of work and sending unemployment surging to 14.7 %, the government said Thursday. The Commerce Department’s estimate of the second-quarter decline in the gross domestic product, the total output of goods and services, marked the … Read more

A 30-year market veteran explains why we’re in ‘one of the nutsiest bubbles in the history of bubbledom’ — and warns of an ‘underwater’ economy for the next several years

Charles Biderman, a 30-year market veteran and founder of TrimTabs Investment Research, can’t believe his eyes. It’s safe to say that 2020 has been a peculiar year for markets. Despite a global pandemic, a 30 percent-plus stock plunge, 13% unemployment, and an economy that’s mostly still closed, the S&P 500 is trading less than 5% … Read more