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Nvidia is poised to surge another 16% as signs point to 'exceedingly robust' demand for its next-gen Blackwell chip, UBS says
UBS said Nvidia's eye-popping stock rally can continue to $150 per share. The bank said recent supply chain checks show "exceedingly robust" demand for Nvidia's next-gen chips. Nvidia's potential $5 EPS in 2025 would give it a valuation of 25.6x on a forward price-to-earnings basis. Nvidia stock's eye-popping rally is...
Stocks will struggle and a recession is on the table if the Fed fails to cut rates by September, Wharton professor Jeremy Siegel says
The rally in stocks could be endangered if the Fed doesn't cut rates soon, Jeremy Siegel warned. The Wharton professor made the case for the central bank to cut rates in September as data softens. The US faces a higher risk of recession without cuts, he said, with GDP and...
Stock market today: US stocks rise to records ahead of key June inflation report
US stocks jumped to record highs ahead of key economic data releases this week. Investors are awaiting the June CPI and PPI reports to gauge inflation trends and the Fed's response. Fed Chair Powell testifies to Congress this week, and earnings season starts with major bank results on Friday. US...
The 'coveted soft landing' is here, Biden's top labor official says — and it could set Americans up for an interest rate cut in September
The US economy is not in a recession, even with the slowing labor market. "If this isn't a soft landing, I don't know what is," Julie Su, acting labor secretary, told BI. It could give the Fed the confidence it needs to cut interest rates in September. Long-awaited financial relief...
The stock market will drop 32% in 2025 as the Fed fails to save the economy from a recession, research firm says
The S&P 500 will plunge 32% in 2025 as a recession finally hits the US economy, BCA Research predicts. The firm said the Fed will fail to prevent a recession as it takes its time cutting interest rates. Rising unemployment and constrained credit will curb consumer spending, worsening the downturn.
Why hurricane-stricken Jamaica can't tap into $150 million of natural-disaster insurance
Although a category-five hurricane laid waste to Jamaica, the nation won't be able to access funds from a bond meant to cover natural disasters, Bloomberg reported. That's despite the fact that Jamaica was among the first to introduce so-called catastrophe bonds, or assets that offer traders an attractive yield for the risk of losing their money due to a natural disaster. With climate change on the rise, cat bonds have grown into a hotter investment.
Why Nvidia just got a rare stock downgrade
Nvidia stock was downgraded to 'Neutral' by NewStreet Research on valuation concerns. Analyst Pierre Ferragu cited limited upside in the shares after a 157% year-to-date rally. "We would be buyers again, but only on prolonged weakness," NewStreet Research said. Nvidia stock got a rare downgrade on Wall Street on Friday.
The stage is set for 2 rate cuts this year, but investors need to be careful adding more exposure to the stock market, JPMorgan strategy chief says
Recent data sets the Fed up to cut interest rates twice this year, JPMorgan's David Kelly said. The bank's chief global strategist predicted Fed rate cuts were coming in September and December. Yet, he warned that stocks are expensive, and investors should be wary of adding exposure at high valuations.
Housing affordability improved in just 1% of US counties last quarter
Virtually every corner of US housing is historically unaffordable, with just a handful of counties bucking the trend, ATTOM reported. Of the 589 counties analyzed by the real estate data firm in the second quarter, only 1.2% were more affordable than their historic average. That's a sharp drop from three years ago, when that measure stood at 94.2% in the first quarter of 2021.
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