RBC Capital Markets analyst Lori Calvasina has downgraded the technology sector from an "Overweight" rating to "Market Weight" after an impressive 2023 performance stirred doubts around current valuations. Offsetting its tech downgrade, RBC lifted ratings for the consumer discretionary and utilities sectors. Yahoo Finance's Josh Schafer breaks down the details. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith
RBC Capital Markets analyst Lori Calvasina has downgraded the technology sector from an "Overweight" rating to "Market Weight" after an impressive 2023 performance stirred doubts around current valuations. Offsetting its tech downgrade, RBC lifted ratings for the consumer discretionary and utilities sectors.
Yahoo Finance's Josh Schafer breaks down the details.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Angel Smith
Reuters
NEW YORK (Reuters) -U.S. banking giants are expected to report lower profits for the fourth quarter after they set money aside to cover souring loans while also paying more to depositors. The largest banks' net interest income (NII) - or the difference between what they earn on loans and pay out on deposits - probably fell on average 10% in the fourth quarter, Goldman Sachs analysts said. Banks' profits will likely be squeezed as they set aside more reserves in the fourth quarter to prepare for customers to default on the loans.
Benzinga
One of the key financial strategies in 2024 is the Roth IRA conversion. This process involves converting a traditional individual retirement account (IRA) to a Roth IRA, which can have significant tax benefits in the future. Although a traditional IRA conversion to a Roth IRA can result in immediate tax liabilities, it still might be a wise move depending on your financial situation. Don’t Miss: The average American couple has saved this much money for retirement — How do you compare? Can you gu
SmartAsset
If there's one thing you can depend on when it comes to taxes, it's that at least some of the rules, exemptions and deductions are sure to change every year. This year was no exception, as many things have changed for 2023 taxes being filed by April 2024. So before you start pulling together the […] The post Important Tax Changes to Know Before You File in 2024 appeared first on SmartReads by SmartAsset.
Read more --->