Markets

US home prices are dropping and stocks will come under pressure, David Rosenberg says. The veteran economist doubts the housing market has bottomed, as prices fell in May. Rosenberg expects the S&P 500 to erase its recent gains, and touts bonds as valuable hedges. Loading Something is loading. Thanks for signing up! Access your favorite… Continue reading US home prices are still dropping – and the S&P 500 will erase this year’s gains, top economist David Rosenberg says

Tesla shares have soared since April, pushing the EV maker’s valuation above $750 billion. But Wall Street is starting to shift to a more cautious outlook for the stock. Goldman Sachs, Morgan Stanley, and Barclays have all warned that Tesla’s massive rally could make it overvalued. Loading Something is loading. Thanks for signing up! Access… Continue reading Tesla stock’s best run since 2020 is spoilt by Wall Street downgrades as Goldman Sachs, Morgan Stanley flag overvaluation risks

Goldman Sachs downgraded Tesla stock to “Neutral” after its monster year-to-date rally of 105%.The bank said Tesla’s valuation is high and that there are a number of positive and negative catalysts going forward.”Valuation is full. Tesla trades at a higher multiple than other fast growing tech companies,” Goldman said. Loading Something is loading. Thanks for… Continue reading ‘Valuation is full’: Goldman Sachs downgrades Tesla stock after its 105% year-to-date surge

Rent prices fell overall last month, posting their first decline in 2020, according to data from Realtor.com. But rents in the Midwest surged 4.5% in May, a sign that more tenants are showing interest in the region. The US housing market has never been more unaffordable, experts say.  Loading Something is loading. Thanks for signing… Continue reading Rents are coming down in the US, but they’re still surging in these 6 cities as tenants flock to the Midwest

Nancy Pelosi’s husband exercised roughly $2.6 million worth of Apple and Microsoft stock options this month. Paul Pelosi bought 5,000 shares of both Apple and Microsoft stocks on June 15, exercising 50 call options. Nancy Pelosi has repeatedly said her husband’s investments have nothing to do with her political knowledge. Loading Something is loading. Thanks… Continue reading Nancy Pelosi’s husband exercises $2.6 million worth of Apple and Microsoft stock options this month

The wave of spending on artificial intelligence could spark a 15% rally for tech stocks, Wedbush said. Analysts predicted that tech firms could shell out as much as $800 billion for AI ventures. “We view this as a ‘1995 Internet Moment’ … NOT a 1999 Dot.Bubble Moment,” the firm said in a note. Loading Something… Continue reading The AI gold rush could spark a 15% rally in tech stocks through the rest of the year as firms shell out $800 billion in the arms race, Wedbush says

Realtor.com has re-examined its prior housing predictions, and now expects a dip in prices and rents. But downgrading the 2023 outlook does not signal a major wave of relief.  “Home costs are still going to be higher for buyers in 2023 because home price declines are very mild and not universal.” Loading Something is loading.… Continue reading Rattled housing market prompts reversal on 2023 forecasts with home prices and rents now expected to fall

The US is most likely headed for a “boil the frog” recession, JPMorgan economists said. In that scenario, central bank tightening will spark a synchronized global downturn in 2024. The US only has a 23% chance of avoiding a recession altogether, the bank estimated. Loading Something is loading. Thanks for signing up! Access your favorite… Continue reading The most likely economic scenario is a ‘boil the frog’ recession featuring a synchronized global hard landing in 2024, JPMorgan says