Goldman Sachs believes the US economy will slow to a crawl next year

Goldman Sachs believes the U.S. economy will slow significantly in the second half of next year as the Federal Reserve continues to raise interest rates and the effects of the tax cut fade. “We expect tighter financial conditions and a fading fiscal stimulus to be the key drivers of the deceleration.” The bank sees the economy expanding at 2.5 percent in the fourth quarter of this year, down from 3.5 percent last quarter. Goldman sees the Fed raising rates this December and then four more times


Goldman Sachs believes the U.S. economy will slow significantly in the second half of next year as the Federal Reserve continues to raise interest rates and the effects of the tax cut fade. “We expect tighter financial conditions and a fading fiscal stimulus to be the key drivers of the deceleration.” The bank sees the economy expanding at 2.5 percent in the fourth quarter of this year, down from 3.5 percent last quarter. Goldman sees the Fed raising rates this December and then four more times
Goldman Sachs believes the US economy will slow to a crawl next year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-19  Authors: john melloy
Keywords: news, cnbc, companies, rates, quarter, economy, crawl, wrote, recession, bank, believes, note, sachs, significantly, slow, sees, goldman, reach


Goldman Sachs believes the US economy will slow to a crawl next year

Goldman Sachs believes the U.S. economy will slow significantly in the second half of next year as the Federal Reserve continues to raise interest rates and the effects of the tax cut fade.

“Growth is likely to slow significantly next year, from a recent pace of 3.5 percent-plus to roughly our 1.75 percent estimate of potential by end-2019,” wrote Jan Hatzius, chief economist for the investment bank, in a note to clients on Sunday. “We expect tighter financial conditions and a fading fiscal stimulus to be the key drivers of the deceleration.”

The bank sees the economy expanding at 2.5 percent in the fourth quarter of this year, down from 3.5 percent last quarter. Real GDP growth will come in at 2.5 percent again in the first quarter of 2019, but then will slow to 2.2 percent, 1.8 percent and 1.6 percent in the next three quarters, respectively.

Goldman sees the Fed raising rates this December and then four more times in 2019. It will do so because inflation will reach 2.25 percent by the end of next year because of tariffs and increasing wages, the bank predicted, noting there was also a chance of an “inflation overshoot.”

“With a large overshoot of its labor market target under way, the FOMC will likely be reluctant to stop until it is confident that the unemployment rate is no longer on a downward trajectory, a point we expect to reach only in early 2020,” the note said.

But the bank doesn’t believe growth will actually turn negative anytime soon.

“For now, neither overheating risks nor financial imbalances — the classic causes of US recessions — look worrisome,” Hatzius wrote. “As a result, the expansion is on course to become the longest in US history next year, and even in subsequent years recession is not our base case.”

— With reporting by CNBC’s Michael Bloom .

WATCH: How the Fed could cause the next recession, according to Gary Shilling


Company: cnbc, Activity: cnbc, Date: 2018-11-19  Authors: john melloy
Keywords: news, cnbc, companies, rates, quarter, economy, crawl, wrote, recession, bank, believes, note, sachs, significantly, slow, sees, goldman, reach


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Google reportedly plans to significantly expand its New York City presence

Tech giant Google is planning to expand its office space in New York City, potentially allowing the company to significantly increase staffing in the city, according to a report from The Wall Street Journal. The WSJ said that Google declined to comment on any talks about the St. John’s Terminal property. Additionally, Google is also planning to expand its existing property at Chelsea Market by about 300,000 square feet, the Journal reported. That, along with its announced plans for 250,000 squar


Tech giant Google is planning to expand its office space in New York City, potentially allowing the company to significantly increase staffing in the city, according to a report from The Wall Street Journal. The WSJ said that Google declined to comment on any talks about the St. John’s Terminal property. Additionally, Google is also planning to expand its existing property at Chelsea Market by about 300,000 square feet, the Journal reported. That, along with its announced plans for 250,000 squar
Google reportedly plans to significantly expand its New York City presence Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: saheli roy choudhury, bryan r smith, afp, getty images
Keywords: news, cnbc, companies, reportedly, wall, tech, york, street, office, expand, space, significantly, city, presence, st, plans, terminal, google


Google reportedly plans to significantly expand its New York City presence

Tech giant Google is planning to expand its office space in New York City, potentially allowing the company to significantly increase staffing in the city, according to a report from The Wall Street Journal.

People familiar with the matter told the Journal that Google is nearing a deal to buy or lease a planned 1.3 million-square-foot office building at St. John’s Terminal in Manhattan’s West Village neighborhood. When completed, that building would give the Alphabet unit space for more than 8,500 staff.

Google did not immediately respond to CNBC’s emailed request for comment.

The WSJ said that Google declined to comment on any talks about the St. John’s Terminal property.

Additionally, Google is also planning to expand its existing property at Chelsea Market by about 300,000 square feet, the Journal reported. That, along with its announced plans for 250,000 square feet of office space at Pier 57, could provide sufficient office space for more than 3,500 additional workers, the newspaper said.

The tech giant bought the Chelsea Market property earlier this year for about $2.4 billion.

Read The Wall Street Journal’s full report on Google expanding its office space in New York City here.


Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: saheli roy choudhury, bryan r smith, afp, getty images
Keywords: news, cnbc, companies, reportedly, wall, tech, york, street, office, expand, space, significantly, city, presence, st, plans, terminal, google


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Market sell-off could get ‘significantly worse’ this week — and it echoes 1987 crash, strategist says

A strategist warned that ongoing sell-offs in equity markets are drawing slight parallels with the crash of the late 1980s. Simon Derrick, chief currency strategist at BNY Mellon, raised concerns Monday around recent market moves. Derrick referred to the volatile market, dubbed “Black Monday,” that began on October 19, 1987, in Asia before spreading to Europe and then the United States later in the day. Last week, major markets fell deep into the red with fears of an escalating trade war between


A strategist warned that ongoing sell-offs in equity markets are drawing slight parallels with the crash of the late 1980s. Simon Derrick, chief currency strategist at BNY Mellon, raised concerns Monday around recent market moves. Derrick referred to the volatile market, dubbed “Black Monday,” that began on October 19, 1987, in Asia before spreading to Europe and then the United States later in the day. Last week, major markets fell deep into the red with fears of an escalating trade war between
Market sell-off could get ‘significantly worse’ this week — and it echoes 1987 crash, strategist says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: chloe taylor, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, yields, selloff, happening, market, strategist, significantly, 1987, treasury, week, whats, crash, worse, echoes


Market sell-off could get 'significantly worse' this week — and it echoes 1987 crash, strategist says

A strategist warned that ongoing sell-offs in equity markets are drawing slight parallels with the crash of the late 1980s.

Simon Derrick, chief currency strategist at BNY Mellon, raised concerns Monday around recent market moves.

“Without wishing to be too alarmist, there have been a few parallels to what was happening 30 years ago in terms of what’s been happening to the dollar, what’s been happening to oil prices, what’s been happening to Treasury yields,” he told CNBC’s “Squawk Box Europe.”

“It’s all very September/October 1987 from that perspective.”

Derrick referred to the volatile market, dubbed “Black Monday,” that began on October 19, 1987, in Asia before spreading to Europe and then the United States later in the day. The Dow Jones industrial average fell more than 500 points — or 22 percent — in a single day.

Last week, major markets fell deep into the red with fears of an escalating trade war between the U.S. and China. Higher Treasury yields — effectively the cost of borrowing in the U.S. — also unnerved investors, as well as political problems in Italy and worries over Brexit negotiations in the U.K.

Derrick was adamant that current events wouldn’t play out like they did 1987, but said a “confluence of different circumstances” could lead to a serious risk-off event, leading the market to get significantly worse this week.

“Could it get significantly worse (this week)? Yes,” he said.


Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: chloe taylor, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, yields, selloff, happening, market, strategist, significantly, 1987, treasury, week, whats, crash, worse, echoes


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These 21 major retailers are worth less than Amazon… combined

These 21 major retailers are worth less than Amazon… combined2 Hours AgoAmazon hit a $1 trillion market cap on Sept. 4, becoming the second U.S. company to achieve this milestone, behind Apple. It’s currently valued at more than these 21 other major retailers combined, despite generating significantly less sales.


These 21 major retailers are worth less than Amazon… combined2 Hours AgoAmazon hit a $1 trillion market cap on Sept. 4, becoming the second U.S. company to achieve this milestone, behind Apple. It’s currently valued at more than these 21 other major retailers combined, despite generating significantly less sales.
These 21 major retailers are worth less than Amazon… combined Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-07
Keywords: news, cnbc, companies, retailers, major, 21, amazon, sept, combined, worth, trillion, valued, sales, second, significantly


These 21 major retailers are worth less than Amazon… combined

These 21 major retailers are worth less than Amazon… combined

2 Hours Ago

Amazon hit a $1 trillion market cap on Sept. 4, becoming the second U.S. company to achieve this milestone, behind Apple. It’s currently valued at more than these 21 other major retailers combined, despite generating significantly less sales.


Company: cnbc, Activity: cnbc, Date: 2018-09-07
Keywords: news, cnbc, companies, retailers, major, 21, amazon, sept, combined, worth, trillion, valued, sales, second, significantly


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The 2018 Ford EcoSport is fun to drive but you shouldn’t buy one

If you haven’t heard the news, Ford’s pretty much done with cars. Besides the Mustang, everything Ford produces will be a high-riding SUV or truck. Say your goodbyes to the Focus and Fiesta, because the EcoSport is set to become the entry point of the Ford lineup. With a starting price of $19,995 and an as-tested MSRP of $28,235, it’ll raise the cost of entry to the Ford club significantly over the Fiesta’s $14,205 fee. I spent a week with one, and while it’s impressive in its driving dynamics a


If you haven’t heard the news, Ford’s pretty much done with cars. Besides the Mustang, everything Ford produces will be a high-riding SUV or truck. Say your goodbyes to the Focus and Fiesta, because the EcoSport is set to become the entry point of the Ford lineup. With a starting price of $19,995 and an as-tested MSRP of $28,235, it’ll raise the cost of entry to the Ford club significantly over the Fiesta’s $14,205 fee. I spent a week with one, and while it’s impressive in its driving dynamics a
The 2018 Ford EcoSport is fun to drive but you shouldn’t buy one Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-12  Authors: mack hogan, cnbc
Keywords: news, cnbc, companies, significantly, suv, ecosport, spent, entry, fun, 2018, week, truck, drive, ford, shouldnt, starting, buy, spending


The 2018 Ford EcoSport is fun to drive but you shouldn't buy one

If you haven’t heard the news, Ford’s pretty much done with cars. Besides the Mustang, everything Ford produces will be a high-riding SUV or truck. Say your goodbyes to the Focus and Fiesta, because the EcoSport is set to become the entry point of the Ford lineup.

With a starting price of $19,995 and an as-tested MSRP of $28,235, it’ll raise the cost of entry to the Ford club significantly over the Fiesta’s $14,205 fee. I spent a week with one, and while it’s impressive in its driving dynamics and easy to live with, it’s hard to make a case for spending nearly $30,000 on the EcoSport.


Company: cnbc, Activity: cnbc, Date: 2018-08-12  Authors: mack hogan, cnbc
Keywords: news, cnbc, companies, significantly, suv, ecosport, spent, entry, fun, 2018, week, truck, drive, ford, shouldnt, starting, buy, spending


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Here’s how much you have to earn to be in the top 1% in every US state

However, the threshold varies significantly among states. In Connecticut, for example, you need an annual income of $700,800 to be in the 1 percent. Keep in mind that these numbers just represent the threshold — the average income of the top 1 percent nationwide is $1.32 million. The bottom 99 percent, on the other hand, earn an average of $50,107 a year. Read on to see just how much your household would have to pull in to join the 1 percent club in every U.S. state.


However, the threshold varies significantly among states. In Connecticut, for example, you need an annual income of $700,800 to be in the 1 percent. Keep in mind that these numbers just represent the threshold — the average income of the top 1 percent nationwide is $1.32 million. The bottom 99 percent, on the other hand, earn an average of $50,107 a year. Read on to see just how much your household would have to pull in to join the 1 percent club in every U.S. state.
Here’s how much you have to earn to be in the top 1% in every US state Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-27  Authors: kathleen elkins, stuart c wilson, getty images, kathy hicks, david ryder, bloomberg, ionas kaltenbach, lonely planet images, gavin hellier, john greim
Keywords: news, cnbc, companies, earn, income, represent, average, yearread, varies, threshold, need, states, significantly, state, heres


Here's how much you have to earn to be in the top 1% in every US state

To be among the top 1 percent of U.S. earners, a family needs an income of $421,926, a new report from the Economic Policy Institute finds.

However, the threshold varies significantly among states. In Connecticut, for example, you need an annual income of $700,800 to be in the 1 percent. In New Mexico, you need $255,429.

Keep in mind that these numbers just represent the threshold — the average income of the top 1 percent nationwide is $1.32 million. The bottom 99 percent, on the other hand, earn an average of $50,107 a year.

Read on to see just how much your household would have to pull in to join the 1 percent club in every U.S. state.


Company: cnbc, Activity: cnbc, Date: 2018-07-27  Authors: kathleen elkins, stuart c wilson, getty images, kathy hicks, david ryder, bloomberg, ionas kaltenbach, lonely planet images, gavin hellier, john greim
Keywords: news, cnbc, companies, earn, income, represent, average, yearread, varies, threshold, need, states, significantly, state, heres


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The risk of a global recession has ‘significantly increased,’ strategist warns

A slew of global developments are convening to threaten economic growth, according to one investment manager, who believes that the risks of a recession next year have now “significantly increased.”Global growth stood at 3.8 percent in 2017 and it is set to add another 3.9 percent this year and the next, according to forecasts by the International Monetary Fund (IMF). But, the escalation of trade tensions, coupled with other factors, could reverse this trend, Beat Wittmann, a partner at financia


A slew of global developments are convening to threaten economic growth, according to one investment manager, who believes that the risks of a recession next year have now “significantly increased.”Global growth stood at 3.8 percent in 2017 and it is set to add another 3.9 percent this year and the next, according to forecasts by the International Monetary Fund (IMF). But, the escalation of trade tensions, coupled with other factors, could reverse this trend, Beat Wittmann, a partner at financia
The risk of a global recession has ‘significantly increased,’ strategist warns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-02  Authors: silvia amaro, daniel acker, bloomberg, getty images, -peter toogood, chief investment officer at the embark group
Keywords: news, cnbc, companies, growth, increased, according, wittmann, significantly, strategist, told, threaten, trade, recession, warns, trend, global, risk


The risk of a global recession has ‘significantly increased,’ strategist warns

A slew of global developments are convening to threaten economic growth, according to one investment manager, who believes that the risks of a recession next year have now “significantly increased.”

Global growth stood at 3.8 percent in 2017 and it is set to add another 3.9 percent this year and the next, according to forecasts by the International Monetary Fund (IMF). But, the escalation of trade tensions, coupled with other factors, could reverse this trend, Beat Wittmann, a partner at financial consultancy Porta Advisors, told CNBC’s “Squawk Box Europe.”

“I think the risk of a global recession in 2019 has significantly increased,” he said.


Company: cnbc, Activity: cnbc, Date: 2018-07-02  Authors: silvia amaro, daniel acker, bloomberg, getty images, -peter toogood, chief investment officer at the embark group
Keywords: news, cnbc, companies, growth, increased, according, wittmann, significantly, strategist, told, threaten, trade, recession, warns, trend, global, risk


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Sell GE shares because they are ‘significantly overvalued’: JP Morgan

J.P. Morgan warned General Electric shareholders that the industrial conglomerate’s turnaround strategy will not lead to a higher stock price. The firm reiterated its underweight rating for GE shares, citing the company’s high valuation. Last week the company announced plans to spin off its health-care unit and separate its stake in oil services company Baker Hughes over the next two to three years. GE said it will focus its operations on the aviation, power and renewable energy businesses. Its


J.P. Morgan warned General Electric shareholders that the industrial conglomerate’s turnaround strategy will not lead to a higher stock price. The firm reiterated its underweight rating for GE shares, citing the company’s high valuation. Last week the company announced plans to spin off its health-care unit and separate its stake in oil services company Baker Hughes over the next two to three years. GE said it will focus its operations on the aviation, power and renewable energy businesses. Its
Sell GE shares because they are ‘significantly overvalued’: JP Morgan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-02  Authors: tae kim, sebastien bozon, afp, getty images
Keywords: news, cnbc, companies, significantly, restructuring, cash, warned, shares, jp, week, decline, company, overvalued, morgan, sell, power, vs, ge


Sell GE shares because they are ‘significantly overvalued’: JP Morgan

J.P. Morgan warned General Electric shareholders that the industrial conglomerate’s turnaround strategy will not lead to a higher stock price.

The firm reiterated its underweight rating for GE shares, citing the company’s high valuation.

Last week the company announced plans to spin off its health-care unit and separate its stake in oil services company Baker Hughes over the next two to three years. GE said it will focus its operations on the aviation, power and renewable energy businesses. Its shares rose 7.8 percent on the day of the announcement Tuesday.

“2019 promising to be another ‘transition year,’ with heavy restructuring and little relief at Power, on which implied multiples show significant disconnect vs peers, particularly on cash metrics,” analyst Stephen Tusa said in a note Monday to clients entitled “It’s Not That Complicated: Simplified SOTP [sum of the parts valuation] Suggests Remainco GE Significantly Overvalued.”

“Perhaps not well understood is that 2019 is shaping up to be much like 2018, with management now messaging no decline in cash restructuring and only a modest decline in book restructuring,” he added.


Company: cnbc, Activity: cnbc, Date: 2018-07-02  Authors: tae kim, sebastien bozon, afp, getty images
Keywords: news, cnbc, companies, significantly, restructuring, cash, warned, shares, jp, week, decline, company, overvalued, morgan, sell, power, vs, ge


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Barack Obama: Ask 3 questions to see if your partner is ‘the one’

Research shows that marrying the right person, and especially someone who is supportive of your career, has the power to significantly boost your happiness, psychological well-being and both personal and professional growth. Former President Barack Obama agrees to the point where he offered advice to help staffers with their love lives, Senior Advisor Dan Pfeiffer recalls in his new book “Yes We (Still) Can.” On Pfeiffer’s last day in 2015, he joined the president aboard Air Force One for one fi


Research shows that marrying the right person, and especially someone who is supportive of your career, has the power to significantly boost your happiness, psychological well-being and both personal and professional growth. Former President Barack Obama agrees to the point where he offered advice to help staffers with their love lives, Senior Advisor Dan Pfeiffer recalls in his new book “Yes We (Still) Can.” On Pfeiffer’s last day in 2015, he joined the president aboard Air Force One for one fi
Barack Obama: Ask 3 questions to see if your partner is ‘the one’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-06-27  Authors: zameena mejia, saul loeb, getty images, afp, chip somodevilla
Keywords: news, cnbc, companies, wellbeing, staffers, obama, travel, president, significantly, trip, supportive, barack, partner, pfeiffers, yes, ask, thengirlfriend, questions


Barack Obama: Ask 3 questions to see if your partner is 'the one'

Research shows that marrying the right person, and especially someone who is supportive of your career, has the power to significantly boost your happiness, psychological well-being and both personal and professional growth.

Former President Barack Obama agrees to the point where he offered advice to help staffers with their love lives, Senior Advisor Dan Pfeiffer recalls in his new book “Yes We (Still) Can.” On Pfeiffer’s last day in 2015, he joined the president aboard Air Force One for one final trip. The two chatted about Pfeiffer’s post-White House plans to travel and move in with his then-girlfriend Howli Ledbetter.


Company: cnbc, Activity: cnbc, Date: 2018-06-27  Authors: zameena mejia, saul loeb, getty images, afp, chip somodevilla
Keywords: news, cnbc, companies, wellbeing, staffers, obama, travel, president, significantly, trip, supportive, barack, partner, pfeiffers, yes, ask, thengirlfriend, questions


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Tesla to rally 50% because media negativity is ‘increasingly immaterial’: Baird

The deluge of recent negative media coverage on Tesla is missing the real story, according to one Wall Street firm. Baird reiterated its outperform rating for Tesla shares, predicting the electric car maker will make significant progress in raising its Model 3 production volumes. “Negative headlines have increased substantially in the past month and, in our opinion, increasingly immaterial reports have dominated news cycles,” analyst Ben Kallo said in a note to clients Wednesday. “We think we ha


The deluge of recent negative media coverage on Tesla is missing the real story, according to one Wall Street firm. Baird reiterated its outperform rating for Tesla shares, predicting the electric car maker will make significant progress in raising its Model 3 production volumes. “Negative headlines have increased substantially in the past month and, in our opinion, increasingly immaterial reports have dominated news cycles,” analyst Ben Kallo said in a note to clients Wednesday. “We think we ha
Tesla to rally 50% because media negativity is ‘increasingly immaterial’: Baird Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-05-23  Authors: tae kim, alberto e rodriguez, getty images, alexis georgeson, harvest films
Keywords: news, cnbc, companies, baird, negativity, significant, 50, tesla, media, wall, substantially, significantly, negative, think, rally, immaterial, volumesnegative, shares, increasingly, street


Tesla to rally 50% because media negativity is ‘increasingly immaterial’: Baird

The deluge of recent negative media coverage on Tesla is missing the real story, according to one Wall Street firm.

Baird reiterated its outperform rating for Tesla shares, predicting the electric car maker will make significant progress in raising its Model 3 production volumes.

“Negative headlines have increased substantially in the past month and, in our opinion, increasingly immaterial reports have dominated news cycles,” analyst Ben Kallo said in a note to clients Wednesday. “We think we have hit a peak in negative coverage/sentiment, and believe shares could appreciate significantly with execution, which should coincide with an improvement in sentiment.”


Company: cnbc, Activity: cnbc, Date: 2018-05-23  Authors: tae kim, alberto e rodriguez, getty images, alexis georgeson, harvest films
Keywords: news, cnbc, companies, baird, negativity, significant, 50, tesla, media, wall, substantially, significantly, negative, think, rally, immaterial, volumesnegative, shares, increasingly, street


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