Growling Powell causes Goldman to cut its S&P 500 price target. Again.

Growling Powell causes Goldman to cut its S&P 500 price target.  Again.

During the height of the bull market – which, boy, seems so long ago – the call-option crazy punters inhabiting the Wallstreetbets channel had a favorite meme to explain why stocks would keep going higher. “Money Printer Go Brrr” featured a Rambo-esque Jay Powell, chair of the Federal Reserve, determinedly firing out greenbacks to whoever … Read more

Jeffrey Gundlach says bonds are ‘wickedly cheap’ compared to stocks — and offers one way to get a 9% return without much risk

Jeffrey Gundlach says bonds are ‘wickedly cheap’ compared to stocks — and offers one way to get a 9% return without much risk

You can forgive Jeffrey Gundlach, a long-suffering Buffalo Bills fan, if he has the NFL on his mind now that the team he supports looks like the Super Bowl favorite. The chief executive of DoubleLine Capital says he recalls an ad for Crown Royal whisky, in which a referee tells drinkers to take a water … Read more

Here’s Why Toyota Isn’t Going All-In On Electric Vehicles

Here’s Why Toyota Isn’t Going All-In On Electric Vehicles

While many automakers have committed billions of dollars in recent years to develop all-electric vehicles, Toyota has approached the technology with far more caution – opting instead to continue investing in a portfolio of hybrid “electrified” vehicles, such as the Prius. And while the Japanese automaker was a darling of US environmentalists and ‘eco-conscious’ consumers … Read more

Aramco Set To Take Stake In Renault’s Future Thermal Engine Business

Aramco Set To Take Stake In Renault’s Future Thermal Engine Business

Saudi Arabia’s oil and gas giant Saudi Aramco could take a stake in French automaker Renault‘s (OTCPK: RNSDF) future thermal engine business after it separates it from its electric vehicle division. According to a Reuters report on Tuesday, China’s Geely Automobile Holdings and an oil group are in talks over taking stakes in Renault’s fossil-fuel … Read more

Bill Ackman says fast-food chains are an inflationary shield. Here’s two he likes, and one he just sold.

Bill Ackman says fast-food chains are an inflationary shield.  Here’s two he likes, and one he just sold.

A cautious session is ahead for Tuesday, following the worst smackdown since June for major indexes. That’s as an increasing number of investors see the Fed pivoting from rate hikes to be a tall order in the face of stubbornly high inflation and a global growth mess. We’ll find out Friday when Fed Chairman Jerome … Read more

New York Empire State factory gauge plunges in August deep into contraction territory

New York Empire State factory gauge plunges in August deep into contraction territory

The numbers: The New York Fed’s Empire State business conditions index, a gauge of manufacturing activity in the state, plummeted 42.4 points to negative 31.3 in August, the regional Fed bank said Monday. This is the second largest monthly decline on record and among the lowest levels in the survey’s history, the regional Fed bank … Read more

US consumer price inflation surprises to downside in July

US consumer price inflation surprises to downside in July

The numbers: The US consumer price index was unchanged in July, the Labor Department said Wednesday, compared with the 1.3% gain in the prior month. Economists polled by The Wall Street Journal had estimated a 0.2% advance in July. The rate of inflation in the 12 months ended in July retired to 8.5% from a … Read more

Veteran strategist Dennis Gartman says it’s still a bear market with no Fed pivot in sight

Veteran strategist Dennis Gartman says it’s still a bear market with no Fed pivot in sight

As the market heads into the new week, the attention is still very much on Friday’s jobs report showing an unexpectedly strong 528,000 increase in nonfarm payrolls. “It was quite a surprise to me,” said Dennis Gartman, the retired publisher of the Gartman Letter and now the chairman of the University of Akron’s endowment and … Read more

FAANGs ain’t what they used to be, so beware the bear-market bounce says this hedge fund manager

FAANGs ain’t what they used to be, so beware the bear-market bounce says this hedge fund manager

It’s been some rally. The S&P 500 SPX, -0.20% is starting the week at a seven-week high, bolstered by hopes for a less hawkish Fed and a sense that earnings pessimism was overdone. The benchmark stock index is up 12.6% from the recent low hit md-June, having delivered its best July performance since 1939, according … Read more

Buying stocks now could bring you pain over the next few weeks. But you’ll be thanking yourself a year from now, these analysts say.

Buying stocks now could bring you pain over the next few weeks.  But you’ll be thanking yourself a year from now, these analysts say.

How bad is the mood out there right now? Try max bearish. So said Bank of America’s latest fund manager survey on Tuesday that showed expectations for profits and growth at recessionary levels. Yet Wall Street rallied and more gains are ahead for Wednesday, partly on earnings optimism but also as some see all this … Read more