Morgan Stanley’s Mike Wilson Says the AI Theme Is ‘Overcooked’

Sep 11, 2024 | Markets

Technology’s transformative potential is not short-term story Traders hunker down in defensives as they seek new growth idea The artificial intelligence boom that powered the S&P 500 Index to record highs earlier this year is fizzling out, so the stock market...

US Online Grocery Prices Plunge the Most on Record in August

Sep 10, 2024 | Markets

US consumers may finally be getting some relief from their grocery bills — especially if they shop for food online. Data by Adobe Inc. shows that online grocery prices fell 3.7% in August from a month earlier, the largest decline since the firm began tracking the...

Brookfield to Offer Private Equity Product for Retail Investors

Sep 10, 2024 | Markets, Private Markets

Brookfield Asset Management plans to launch a private equity product tailored to rich individuals as the firm expands further into retail wealth. “We did it in credit, we did it in real estate, we did it in infrastructure, and now we’re doing it in private...

Ally Drops After CFO Flags Consumer Stress, Underperformance

Sep 10, 2024 | Markets

Ally Financial Inc. fell after Chief Financial Officer Russ Hutchinson highlighted intensifying credit deterioration among its borrowers and said the auto-lender may experience some underperformance. Borrowers have shown signs of vulnerability throughout the year and...

UBS’s Cheong Turns Bearish and Sees 10% Drop Coming for S&P 500

Sep 10, 2024 | Markets

Equity derivatives strategist recommends buying tail hedges “I am tactically bearish for the next two months,” Cheong said UBS AG’s top strategist for US equity derivatives said she’s expecting the S&P 500 to fall at least 10% from its peak within a month. “I am...