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Whether you’ve been a staunch bull or sceptical bear over the past few years, there have always been places to hide if you want to get away from it all.
That’s no longer the case, and it’s left traders with “no places to hide,” says Goldman Sachs. Here’s our story.
Elsewhere in markets news, Wall Street got another sign Tuesday that its worst fears about inflation have not yet been realised.
The core consumer-price index, a gauge of costs that excludes food and energy products, increased by 0.2% month-on-month in February and 2.1% year-on-year. Both prints from the Bureau of Labour Statistics were in line with economists’ forecasts.
Here are some other highlights:
- Wall Street gets a reprieve on 2 of its biggest worries about the economy
- A key recession indicator is flashing yellow again
- GOLDMAN SACHS: Stocks are at a key level and we expect “one more leg to new lows”
- The head of a $US1 trillion ETF provider shares a bold prediction for the record-shattering industry
In Wall Street news, a throwaway comment in a conversation with Richard Branson hints at the future of Goldman Sachs. Barclays has now run point on the 3 biggest debt deals in history – here’s how it’s able to punch above its weight class. And Amazon is reportedly planning to offer a new credit card tailored to the needs of small business owners.
President Donald Trump issued an executive order Monday blocking the impending takeover of the chipmaker Qualcomm by its Singapore-based rival Broadcom. In doing so, he most likely sent millions in advisory fees for those working on the bid up in smoke. Shares of Qualcomm sank more than 5% in early trading Tuesday, while Intel hit a record high.
Lastly, Salesforce’s $US100 million Dropbox investment, on the eve of the IPO, could signal an acquisition.