May 24, 2024

Brighton Journal

Complete News World

Australia, South Korea and Hong Kong closed the budget

Australia, South Korea and Hong Kong closed the budget

2 hours ago

CNBC Pro: These are Goldman Sachs’ favorite stocks with an upside of 50% or more

The stock was on a tear.

The S&P 500 has risen to record highs this year, and the Dow Jones Industrial Average had its best week of the year — and its eighth straight session last Friday.

But Goldman Sachs still gave some of its favorite stocks more than 50% upside potential, and one stock more than 100%.

CNBC Pro subscribers can read more about it here.

-Weezin Tan

2 hours ago

CNBC Pro: Are memes making a comeback? These four stocks could benefit from the retail investor boom

5 hours ago

Inflation remains too high to justify interest rate cuts this year, according to one strategist

The Federal Reserve is unlikely to cut interest rates this year, according to Megan Horniman, chief investment officer at Verdence Capital Advisors.

While Horniman also sees a rate hike unlikely, she believes the US central bank will have to keep interest rates unchanged for the rest of the year as inflation persists.

“It’s a problem that was exacerbated by taking such a dovish tone and allowing markets to price in so many interest rate cuts early last year,” she said. “They really need to get these markets more realistic about where interest rates are going.”

-Lisa Kailai Han

6 hours ago

Negative economic surprises will eventually drag stocks down, Citi says

The market has reacted positively to negative economic surprises recently, but Citi believes the “bad news is good news” narrative will soon change.

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“Seasonally, surprises tend to happen at the moment, and with a Fed rate hike unlikely in the near future, good economic news is likely to be welcomed by risk assets,” analyst Nathaniel Robert wrote.

“However, as cracks appear in the labor market, further below-consensus data will eventually weigh on stocks (although the first cut may be viewed positively), as will financial conditions tighten in our view,” he added. .

-Lisa Kailai Han

7 hours ago

Bank of America says the OpenAI event “raises the bar” for AI-based chatbots

Monday’s OpenAI event that highlighted a new desktop app and some updates “raises the bar again for consumer chatbots,” according to Bank of America analyst Vivek Arya.

The event “ups the ante on AI assistant,” he wrote in a note Tuesday, adding that semiconductor stocks should see multi-year growth tailwinds from the computing and networking capabilities needed to satisfy growing AI use cases.

Analyst Wamsi Mohan also highlighted Apple as a potential beneficiary of OpenAI, multimedia assistants and potential productivity gains.

“Much of the demo used an iPhone ‘connected to the Internet’ to reduce latency for real-time interaction,” he wrote. “Keep buying on GenAI interest at the edge with upside gross margin and momentum in services.”

However, Rosenblatt’s Barton Crockett sees the event as a potential competitive pressure point for Alphabet ahead of Google I/O. The developments also appear to have caught the attention of Apple, which has struggled for years to create similar capabilities for its Siri component, he added.

“We believe Apple is nowhere close internally to what OpenAI just demonstrated,” he wrote. “If Google cannot demonstrate the ability to match OpenAI at I/O, Apple will be under significant pressure that we believe will partner with OpenAI to update Siri to match the current state of AI.”

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-Samantha Sobin