Goldman Sachs’ Jan Hatzius warned that U.S. GDP estimates showing 3.8% growth in Q2 and 3.3% in Q3 may be overstated, due to missing data from the government shutdown and weakening labor trends. He pointed to falling employment indicators and survey data signaling stagnation, arguing job market weakness offers a more accurate gauge of current…
NEW YORK (AP) — Wall Street had one of its most profitable quarters ever, if the earnings from four of nation’s biggest banks that reported Tuesday are to be believed; as banks were helped by a flurry of deal making, soaring stock prices and a global economy that remains resilient despite tariffs and geopolitical upheaval….
A Wall Street dealmaking bonanza in the third quarter helped boost profits at JPMorgan Chase (JPM) and Goldman Sachs (GS) as some of the country’s largest banks raked in higher revenues from investment banking and trading. JPMorgan posted net income of $14.4 billion, a 12% increase from the third quarter of last year and roughly…
By Dhara Ranasinghe and Wayne Cole LONDON (Reuters) -World markets found steadier ground on Monday after being whipsawed by broadsides in the U.S.-China trade war, while gold hit new record highs in a sign that uncertainty remained high. While U.S. President Donald Trump had threatened 100% tariffs on China from November 1 and Beijing threatened…
The country’s biggest Wall Street banks are riding high into the third quarter reporting season. Analysts expect profits among six major banks to climb 6% from the third quarter of last year, according to Bloomberg data. “It’s been a good environment,” Barclays analyst Jason Goldberg said. Expectations will be put to the test starting Tuesday…
In the Capital Connectors series, exclusive interviews with six influential Chinese and global bankers reveal the opportunities and challenges for Hong Kong in its evolution as an international financial hub. Hong Kong has become the fundraising venue of choice for Chinese technology giants, surpassing the US thanks to growing liquidity, market reforms and proximity to…
The global market’s AI euphoria may be hitting a critical inflection point. After two years of record-breaking gains, a growing chorus of financial heavyweights, from Goldman Sachs and JPMorgan to the IMF and Bank of England, are warning that what began as a genuine technological revolution is now flashing unmistakable signs of speculative excess that…
If you turn on CNBC or Bloomberg at any given time, there’s a decent chance you’ll see a talking head discussing a bubble in AI stocks. It’s a pretty easy case to make if you use the historical playbook for identifying an overvalued market. Judging by traditional metrics, we’re flashing red. Even Fed Chair Jerome…
The stock market may look like it’s on a high, but according to Goldman Sachs (GS), it hasn’t crossed into bubble territory. “There are elements of investor behaviour and market pricing currently that rhyme with previous bubbles,” Peter Oppenheimer, Goldman’s chief global equity strategist, wrote in a new note. “However, we see key differences.” The…
Amazon founder Jeff Bezos has reportedly called artificial intelligence an “industrial bubble,” on Monday. The term “bubble” refers to a period of inflated stock prices or valuations of companies that have disconnected from the fundamentals of a business. One of the most famous bubbles that burst was the 2000 dotcom crash where the value of…