Bank of America sees AI transforming the internet over the next five years – top stocks going mainstream

Artificial intelligence will be a catalyst for big tech stocks in the next five years, according to Bank of America. The sector took a beating in 2022 thanks to macro factors, including inflation and rising interest rates. The heavy Nasdaq Composite is down 25% this year, compared to the S&P 500’s drop of nearly 12%. … Read more

Markets need a strong labor market, and moderate inflation

CNBC’s Jim Cramer told investors Friday that stocks could see another strong week of trading, given the right economic conditions. “As we approach the end of the year, the holidays will become more and more of a focus. For now, the outlook is cloudy – many cross currents. But if the job market remains strong … Read more

Oil production cuts are on the table before Russia sanctions

OPEC+, a group of 23 oil producing countries led by Saudi Arabia and Russia, will meet on Sunday to decide on the next phase of production policy. bloomberg | bloomberg | Getty Images Oil producers from the Organization of the Petroleum Exporting Countries and beyond may impose deeper cuts in oil production on Sunday, energy … Read more

Russian oil sanctions are about to begin. And it can disrupt markets dramatically

European oil sanctions are set to kick in on December 5th. The idea is to reduce Russia’s oil revenues in light of its war in Ukraine. Andrei Rudakov | bloomberg | Getty Images Analysts have warned that the upcoming sanctions on Russian oil will be “really devastating” to energy markets if European countries fail to … Read more

European markets are awaiting inflation data from the Eurozone

The fund manager says the short-term rally in the European market could be an opportunity to reduce exposure to equities M&G Investments’ Maria Monici says the rally could be a “tactical opportunity to cut back some of that equity exposure.” Julius Baer accepts £18m fine by UK regulator over ‘researcher fee arrangement’ A pedestrian walks … Read more

The biggest risks of using fitness trackers to monitor health

Fitness trackers, which help monitor sleep quality, heart rate, and other biological metrics, are a popular way to help Americans improve their health and well-being. There are many types of trackers on the market, including those from well-known brands like Apple, Fitbit, Garmin, and Oura. While these devices are becoming increasingly popular—and have legitimate uses—consumers … Read more

Economies booming with Russian wealth and immigration

Russians cross the border between Russia and Georgia days after President Vladimir Putin announced a mobilization campaign on September 21. Daru Solakuri | Getty Images News | Getty Images While many economies are suffering from the impact of Russia’s invasion of Ukraine, a select few countries are benefiting from the influx of Russian immigrants and … Read more

Open for closes, stocks, data and news

Ifo Institute says German economic sentiment improved in November The Ifo institute’s German business climate index rose to 86.3 in November from 84.5 in October. “While companies were somewhat less satisfied with their current business, pessimism about the coming months has declined sharply. The recession may be less severe than many expected,” said IFO President … Read more

China may have ‘passed the point of no return’ with soaring rates of Covid infection

Macquarie’s chief China economist, Larry Hu, said surging Covid infections across mainland China was making it difficult for the government to achieve zero Covid without returning to a harsh lockdown. In the past few days, the number of daily cases has risen to around 28,000 or more — close to levels seen in April during … Read more

Investors evaluate the course of the interest rate

Manfred Knauf, CEO of Commerzbank, says that the bank is preparing not for a catastrophe, but for a mild recession Commerzbank CEO Manfred Knof said the bank had prepared for a “mild recession” and that it expected an increase in non-performing loans, but that it was “certainly not a disaster or a default problem”. “We’ve … Read more