Business Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Wall Street is tempering its hopes for the US recovery. A handful of big banks say it's the American people who spoiled the party.
over the next 12 months, according to a survey conducted by BofA earlier in August. That's the smallest share since April 2020, when lockdowns just started to freeze the US economy. That print also came before retail sales data showed spending slow more than expected in July. The retail sales report shows a"sharp pullback in demand" and starts the quarter off"on a bad note," BofA economists led by Michelle Meyer said in a note. Even if spending bounces back in August and September, the bleak July print points to"relatively muted" growth in the third quarter, they added.
Still, both teams are holding out hope that spending can bounce back before 2022. The slump shouldn't last long, as the duration of Delta outbreaks in Europe suggest case counts in the US could start to fall in September, the Goldman economists said. The bank raised its fourth-quarter GDP forecast to 6.5% from 5.5% on Wednesday as well, noting the expected drop in cases should power a buying spree similar to that seen through spring.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
What to watch today: Stock futures fall as Wall Street is set for a losing weekThe Dow and S&P on pace for their worst weeks since June, while the tech-heavy Nasdaq is set for its worst since May.
Weiterlesen »
Tesla’s humanoid robot gets muted welcome from Wall StreetTesla Inc. shares were holding on to small gains a day after the company held its much-anticipated AI Day, which included the surprise reveal of a...
Weiterlesen »
Retail’s Supply Chain Woes, From Washington to Wall StreetIndustry insiders describe the challenges of supply chain disruption as “an overwhelming concern without easy answers.”
Weiterlesen »
Baby Passed Over Wall at Kabul Airport Has Been Reunited With FamilyThe U.S. embassy is advising Americans to avoid going to the airport as chaos outside its walls continues to grow.
Weiterlesen »
35 Copenhagen Fashion Week Street Style Looks That Prove Color Reigned SupremeGo bright or go home.
Weiterlesen »
Welcome to the Last Say in Wall Art & Home Decor ShoppingAll the art your heart desires, in one place.
Weiterlesen »