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MarketWatch
Growling Powell causes Goldman to cut its S&P 500 price target. Again.
“Money Printer Go Brrr” featured a Rambo-esque Jay Powell, chair of the Federal Reserve, determinedly firing out greenbacks to whoever could scoop them up. Well, now “Jay Powell Go Grrr” would be more apt. Now Goldman Sachs is citing Powell’s projected rate hikes as a reason to lower its S&P 500 (SPX) year-end target from 4,300 to 3,600.
Bloomberg
Stock Selloff Turns Ugly as UK Plan Rattles Globe: Markets Wrap
(Bloomberg) — A selloff in the riskier corners of the market deepened as the UK’s plan to lift the economy fueled concerns about heightened inflation that could lead to tighter monetary policy, boosting the odds of a recession.Most Read from BloombergJapan to Restore Visa-Free Travel From Oct. 11 as Covid Pandemic Recedes South Korea President Caught on Hot Mic Insulting US CongressBank of England Says Paper Banknotes Only Good for One More WeekUnless Rents Rise, Housing Is Set Up for an Epic C
Bloomberg
Goldman Slashes S&P 500 Target Citing Higher Fed Rates Path
(Bloomberg) — Goldman Sachs Group Inc. slashed its year-end target for the S&P 500 Index to 3,600 from 4,300, arguing that a dramatic shift in the outlook for interest rates moving higher will weigh on valuations for US equities.Most Read from BloombergJapan to Restore Visa-Free Travel From Oct. 11 as Covid Pandemic Recedes South Korea President Caught on Hot Mic Insulting US CongressBank of England Says Paper Banknotes Only Good for One More WeekUnless Rents Rise, Housing Is Set Up for an Epic
The Wall Street Journal
Oil Falls Below $80 a Barrel
Oil prices fell to the lowest levels since January as fears about a global recession accelerated and the dollar strengthened further. + U.S. benchmark _WTI_ traded at $79.23 a barrel, sliding 5%. WTI hadn’t been below $80 intraday since Jan. 11. + Global crude benchmark [_**Brent**_](https://www.wsj.com/market-data/quotes/futures/UK/IFEU/BRN0) declined 4.3% to trade at $85.70 a barrel. “The market is worried about growth and this is sending commodity prices down,” said Ole Hansen, head of commod
Reuters
Bond sell-off worst since 1949, investor sentiment plummets – BofA
LONDON (Reuters) -Global government bond losses are on course for the worst year since 1949 and investor sentiment has plummeted to its lowest since the financial crisis, BofA Global Research said in a note on Friday. Bond funds recorded outflows of $6.9 billion during the week to Wednesday, while $7.8 billion was removed from equity funds and investors plowed $30.3 billion into cash, BofA said in a research note citing EPFR data. Investor sentiment is the worst it has been since the 2008 global financial crash, the note said.
MarketWatch
Dow futures slide nearly 400 points as dollar hammers rivals
U.S. stock index futures fell sharply early Friday, while the U.S. dollar climbed further against other major currencies, as the market continues to price in further Federal Reserve interest-rate hikes.
TipRanks
J.P. Morgan Says Stock Market Downside Risk Is Limited; Here Are 3 Stocks to Consider
A strong bearish trend defined the markets in the first half of the year; since then, the key point has been volatility. Stocks hit a bottom back in June, when the S&P 500 dropped into the 3,600s. That has proven to be a support level in the last three months, and at least one strategist believes that the market won’t go much lower from here. JPMorgan global market strategist Marko Kolanovic is taking a guardedly optimistic view of the coming year, noting: “We believe that any downside from here
Reuters
Goldman Sachs cuts 2022 target for S&P 500 by 16%
Analysts at Goldman Sachs wrote in a note late Thursday that the expected path of interest rates by the central bank is now higher than its previous estimate. “Based on our client discussions, a majority of equity investors have adopted the view that a hard landing scenario is inevitable and their focus is on the timing, magnitude and duration of a potential recession and investment strategies for that outlook,” wrote Goldman analyst David Kostin. The Fed indicated on Wednesday global policymakers would “keep at” their battle to beat down inflation, and hiked U.S. interest rates by 75 basis points for a third consecutive time and signaled borrowing costs would keep rising this year.
Bloomberg
European Gas Heads for Fourth Weekly Loss as Stockpiles Fill Up
(Bloomberg) — Natural gas prices in Europe headed for a fourth weekly loss, as ample supplies of liquefied natural gas help countries fill reservoirs days ahead of the start of the heating season.Most Read from BloombergJapan to Restore Visa-Free Travel From Oct. 11 as Covid Pandemic Recedes South Korea President Caught on Hot Mic Insulting US CongressBank of England Says Paper Banknotes Only Good for One More WeekUnless Rents Rise, Housing Is Set Up for an Epic CrashA Great Copper Squeeze Is C
