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- 03.12.2022 06:02
Mutual funds invested in equity and bonds lost a record $152 billion in December, while U.S. equity exchange-traded funds just had their first back-to-back weekly outflows since July 2018, shedding $7.1 billion in the last two weeks, according to TrimTabs Investment Research.Read more
In the big picture, Goldman sees the S&P 500 ending the year at 3,000, implying an 18.5 percent gain from Friday's close after a year that saw the large-cap barometer fall 6.2 percent. The firm believes investors are overly pessimistic about the growth potential for the U.S. economy, even though Goldman projects GDP rising just 1.9 percent for the year.Read more
Stocks have bounced back from their multi-year lows and valuations have reached an attractive level for the first time in years, but investors still can't go all in. That's the advice from Morgan Stanley's chief equity strategist Michael Wilson, who recommends buying cyclical stocks like financials and energy when the market finally finds a bottom. That is when the earnings revision breadth bottoms.Read more
Earlier, GSK and Pfizer said they will combine their consumer health portfolios, which include brands like ChapStick, Tums, and Nicorette, into the largest producer of over-the-counter drugs. Combined, the units generated $12.7 billion in revenue last year. The two companies plan to close the deal in the second half of 2019 and spin off the joint venture sometime within three years.Read more
The IRS has increased the amount employees can sock away in their 401(k) plans in 2019 to $19,000. That's up from $18,500 in 2018. That limit also applies to 403(b), Thrift Savings and most 457 plans. The maximum amount you can put away in your individual retirement accounts has also been bumped up for the first time since 2013. In 2019, you will be able to save up to $6,000 in your IRA, up from $5,500 in 2018.Read more
Shares of Intercontinental Exchange — the company that owns the NYSE — fell more than 2 percent Monday as some of Wall Street's largest financial companies neared the launch of a low-cost rival trading platform.Read more