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Wells Fargo says the S&P 500 is topping out and a correction is ahead
He predicts the index could fall more than 10% from Thursday’s close.
Deutsche Bank gives its top pick into the big retail earnings next week
Retail earnings get underway next week and for Deutsche Bank, Walmart stands out as its top pick.
U.S. can avoid default in July if Treasury can make it through June cash crunch, Congressional Budget Office says
Tax revenues and emergency measures after June 15 will let Treasury “continue financing operations through at least the end of July,” said the CBO.
Fed Governor Philip Jefferson named as new vice chair to succeed Lael Brainard
Federal Reserve Governor Philip Jefferson will be nominated by President Joe Biden to be vice chairman of the central bank’s board
As the Supreme Court weighs Biden’s student loan forgiveness, education debt swells
This year’s high school graduates could take on as much as $37,000 in student loan debt in pursuit of a bachelor’s degree, a new report shows.
24-hour trading won’t help Robinhood financially in the near term, Morgan Stanley says
Morgan Stanley believes it’s too early to tell if Robinhood’s 24-hour trading offering will be a hit for its customers or if it would just be marketing puffery.
Goldman still doesn’t expect recession, going against most of Wall Street
The investment bank still sees just a 35% chance that the $26.5 trillion U.S. economy enters a contraction over the course of the next year.
As shoppers look for savings, Nordstrom hopes Rack stores can fuel its revival
The department store operator is opening 20 Nordstrom Rack stores and zeroing in on best-selling brands.
Tesla raises U.S. prices for all its vehicles except Model 3
Tesla Inc increased the U.S. prices of its Model S, X, and Y electric vehicles by low single-digit percentages on Thursday.