Markets

Corporate debt defaults in 2023 have already blown past last year’s total, Moody’s data shows. 55 US firms defaulted on their debt in the first-half, a 53% increase from total defaults in all of 2022. Global debt defaults could keep surging as financial conditions continue to tighten, the firm warned. Loading Something is loading. Thanks… Continue reading US corporate debt defaults in 2023 have already surpassed last year’s total

Tesla is scheduled to report second-quarter earnings on Wednesday after the market close. Wall Street is laser focused on the company’s profit margins after the company cut prices for its vehicles. Here’s what Wall Street expects from the EV maker’s upcoming earnings report.  Loading Something is loading. Thanks for signing up! Access your favorite topics… Continue reading ‘Margins, margins, margins’: Here’s what Wall Street is looking for in Tesla’s 2nd-quarter earnings

Kameleon007/Getty Images An inverted bond-yield curve is widely regarded as the sign of an oncoming recession.  The US Treasury curve has been inverted for quite a while now – but Goldman Sachs says things are different this time.  Jan Hatzius, Goldman’s chief economist, said “overly pessimistic” economic forecasts have put more pressure on long-term rates… Continue reading This classic recession signal has been flashing red, but Goldman Sachs is unfazed

Ark Invest has marked down its Twitter valuation by 47% since it was taken over by Elon Musk, the Wall Street Journal reported.Musk had recently tweeted that Twitter’s advertising revenue has been cut in half since he took over the company.Despite the steep writedown, Ark CEO Cathie Wood said she is still bullish on the… Continue reading Twitter’s valuation has been slashed by 47% at Ark Invest since Elon Musk took over

Russia escalated its economic war with the West by seizing local operations of Carlsberg and Danone. They marked the second seizures of Western assets since the Kremlin unveiled a decree in April. The move is another form of retaliation against Western sanctions imposed on Russia. Loading Something is loading. Thanks for signing up! Access your… Continue reading Russia ramps up its economic war with the West as it seizes local operations of 2 corporate giants

Goldman Sachs said the odds of a recession in the next 12 months have fallen to 20% from 25% earlier. It cited encouraging economic data, such as consumer sentiment and slowing inflation. The bank expects only one remaining interest rate hike in the Federal Reserve’s tightening cycle. Loading Something is loading. Thanks for signing up!… Continue reading The odds of a recession in the next year have fallen to just 20%, Goldman Sachs says

Inflation could rebound in the second-half of the year, according to Wells Fargo’s Darrell Cronk. The wealth and investment management CIO noted corporate earnings are weak, which could upend the rally in stocks. Already, the market has seen the largest decline in earnings growth since the 2008 recession, Cronk said. Loading Something is loading. Thanks… Continue reading Stocks could get slammed by a rebound in inflation and weak corporate earnings, Wells Fargo wealth management CIO says

Sen. Elizabeth Warren has called on the Securities and Exchange Commission to investigate Tesla. She cites conflicts of interest related to CEO Elon Musk’s dual roles in Tesla and Twitter. Tesla’s board may also have limited independence from Musk, possibly amounting to a legal violation. Loading Something is loading. Thanks for signing up! Access your… Continue reading Sen. Elizabeth Warren asks the SEC to investigate Tesla over possible conflicts of interest in Twitter ties