As 2024 comes upon investors faster with every day, experts are now believing the Fed may reach its inflation mandates and promote GDP growth in the new year with a recession. Yardeni Research President Ed Yardeni explains the economy has been more resilient than even he expected, reconsidering his past recession calls. "It's almost contrary to agree with the Fed, and I've been a contrarian saying the Fed may actually get it right. Inflation may come down and they may get it without a recession," Yardeni tells Yahoo Finance. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
As 2024 comes upon investors faster with every day, experts are now believing the Fed may reach its inflation mandates and promote GDP growth in the new year with a recession.
Yardeni Research President Ed Yardeni explains the economy has been more resilient than even he expected, reconsidering his past recession calls.
"It's almost contrary to agree with the Fed, and I've been a contrarian saying the Fed may actually get it right. Inflation may come down and they may get it without a recession," Yardeni tells Yahoo Finance.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Bloomberg
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Barrons.com
Cisco Systems is throwing a wrench into the recent rebound in technology stocks. “Cisco saw a slowdown of new product orders in the first quarter of fiscal 2024 and believes the primary reason is that customers are currently focused on installing and implementing products in their environments following exceptionally strong product delivery over the past three quarters,” the company said in announcing October quarter results. “Cisco estimates there are one to two quarters of shipped product orders still waiting to be implemented by its customers.”
Reuters
The company has in recent years grappled with supply chain issues and a post-pandemic slowdown in demand, which has hastened its push into software offerings like cybersecurity. To accelerate its diversification and capitalize on the boom in artificial intelligence, Cisco in September agreed to buy cybersecurity firm Splunk for about $28 billion in its biggest-ever deal. Cisco said it saw "a slowdown of new product orders in the first quarter of fiscal 2024 and believes the primary reason is that customers are currently focused on installing and implementing products in their environments".
TipRanks
There’s no secret that markets experienced a decline from August to October, but November has proven to be a fruitful period for investors. The S&P 500 has surged by 7% this month, while the tech-focused Nasdaq has shown even stronger growth, with gains of approximately 10%. Watching the scene from Bank of America, chief investment strategist Michael Hartnett believes that there are compelling reasons to remain optimistic about the near-term outlook. Noting that investors have been worried about
The Wall Street Journal
Schwab’s integration of TD Ameritrade customers continues to weigh on its asset growth. Clients from TD Ameritrade pulled a net $4.8 billion of core assets in October, according to the company’s monthly report released Tuesday. All other Schwab customers added a net $16.1 billion.
Zacks
Inflation is declining steadily and with the holiday season around the corner stocks like DraftKings (DKNG), Electronic Arts (EA), Hilton Worldwide Holdings (HLT), Royal Caribbean Cruises (RCL) and Skechers U.S.A. (SKX) are likely to benefit.
Reuters
U.S. retail sales fell for the first time in seven months in October as motor vehicle purchases and spending on hobbies dropped, pointing to slowing demand at the start of the fourth quarter that further strengthened expectations the Federal Reserve is done hiking interest rates. Retail sales are mostly goods and are not adjusted for inflation.
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