Goldman Sachs yesterday revised its recession odds for the year. Before...
Goldman Sachs yesterday revised its recession odds for the year. Before this week, the firm gave the US a 25% chance of tipping into recession in 2023.
In light of the bank runs, bank failures, and bank stock volatility, those odds are now at 35%, strategists said Thursday, citing "increased near-term uncertainty" surrounding the effects of small bank stress.
Thursday's research note followed a separate forecast from Goldman that slashed the 2023 GDP outlook by 0.3%, to 1.2%.
🤖 Microsoft vs. Google locked in workplace AI battle
Microsoft wants to make its Office suite great again by ...
Microsoft wants to make its Office suite great again by infusing it with the hottest tech around: the GPT-4 large language model. The company said it will include AI-powered assistants (“Copilots”) in apps such as Excel and PowerPoint to take busywork off your hands. That announcement comes days after Google revealed it would bring generative AI features to Google Docs, Google Sheets, and Gmail.
Google raised the price of its YouTube TV subscription from $65 per month to $73—a 12% bump. The service, intended as a cable replacement, hasn’t experienced a price hike since June 2020. But, according to Google, “content costs have risen” since then. It didn’t specify what content costs more now, but YouTube TV did recently pony up a reported $2 billion for the rights to the NFL’s Sunday Ticket package. Other streaming services from Apple, Disney, and HBO have raised prices recently.
N.D. oil output bounces back in Jan. after Dec. dip
The North Dakota Department of Mineral Resources has reported that the state's oil production surged...
The North Dakota Department of Mineral Resources has reported that the state's oil production surged by 11% to almost 1.1 million barrels per day in January, rebounding from a 13% drop in December that pushed output below the 1-million-bpd mark for the first time since April. Natural gas production rose by 7% to around 2.8 billion cubic feet per day in January, with producers exceeding the state's 91% gas capture target.
Dow falls 200 points on losses in shares of JPMorgan Chase, Goldman Sachs
Shares of JPMorgan Chase and Goldman Sachs are retreating Friday morning, sending the Dow Jones Industrial...
Shares of JPMorgan Chase and Goldman Sachs are retreating Friday morning, sending the Dow Jones Industrial Average into negative territory. The Dow DJIA, -0.72% was most recently trading 199 points (0.6%) lower, as shares of JPMorgan Chase JPM, -2.76% and Goldman Sachs GS, -2.24% have contributed to the index's intraday decline. JPMorgan Chase's shares are off $3.52, or 2.7%, while those of Goldman Sachs have dropped $8.17, or 2.6%, combining for an approximately 77-point drag on the Dow. Other components contributing significantly to the decline include American Express AXP, -2.17%, Travelers TRV, -2.46%, and Caterpillar CAT, -1.71%. A $1 move in any one of the 30 components of the index equates to a 6.59-point swing.
