⚠️ *WALL ST. WEEK AHEAD: CPI, MAJOR BANK EARNINGS, AMAZON $AMZN PRIME DAY 🇺🇸🇺🇸
Some large banks have improved their U.S. economic outlooks, with Goldman Sachs cutting the chance of a recession within the next 12 months to 25% from 35%. The Commerce Department, meanwhile, increased its estimate for first-quarter Gross Domestic Product growth to an 2% annualized rate from its initial 1.3% estimate.
"But until we hear from companies that they are cutting their labor force, then we think that we will not have a dire earnings season and some of these lagging sectors will become more favorable," she said. That will likely continue to weigh on stocks overall as borrowing costs increase. Overall, earnings in the S&P 500 are expected to fall 5.7% in the second quarter, largely due to declining margins, Refintiv data showed.
The healthcare sector trades at a forward price-to-earnings ratio of 17.6, well below the 20.1 ratio of the broad S&P 500.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street ends choppy day lower after jobs data By Reuters*WALL STREET ENDS LOWER AFTER JOBS DATA AS U.S. STOCKS SUFFER WEEKLY LOSSES ON RATE FEARS *FOR THE TRADING WEEK: *DOW FALLS -1.3% *S&P 500 FALLS -1.1% *NASDAQ FALLS -0.9% *RUSSELL 2000 FALLS -1.3% $DIA $SPY $QQQ $IWM 🇺🇸🇺🇸
Read more »
Our oddest photos of the week | Pictures | ReutersA person takes a photo as a full moon known as the 'Buck Moon' rises behind the Temple of Poseidon, in Cape Sounion, near Athens, Greece, July 3, 2023. REUTERS/Alkis Konstantinidis
Read more »
June inflation data will be closely watched by investors in the week aheadWall Street attention will turn to June inflation data to shed light on the path of future Fed policy. And some big bank earnings.
Read more »
Miami Swim Week Remains the Most Chaotic Fashion Week of the YearAstronaut helmets, capes, vagina floss...bless the swimwear designers who are always challenging the idea of what a person might wear to the beach.
Read more »
Best of Wimbledon | Pictures | ReutersSerbia's Novak Djokovic celebrates winning his third round match against Switzerland's Stan Wawrinka at Wimbledon in London, Britain, July 7, 2023. REUTERS/Andrew Couldridge
Read more »