The US stock market started 2024 with a blistering rally, sending the Morningstar US Market Index up 7.8% – roughly 26% higher than its October lows. But the relentless pace of gains has some watchers worried about soaring valuations on stock prices and frothy trading. “When prices go up that much, earnings rarely go up the same … Read more
To get John Authers’ newsletter delivered directly to your inbox, sign up here. It’s still impossible to have any conversation about markets without being asked whether a bubble is already inflating. So let’s return to the topic, yet again. And to be clear about the terms, we’re not asking whether the market is too cheap, … Read more
The Circuit Hosted by high-profile journalist Emily Chang, The Circuit is a fast-paced, dynamic series that lives at the intersection of culture, tech, entertainment, and business. Every week, Chang will go on location to meet the world’s most fascinating founders, influencers, and innovators, conducting intimate interviews and bringing audiences behind the scenes of the most … Read more
Stocks moved decidedly higher as Nvidia Corp. led a rally in chipmakers, with traders awaiting key inflation data and a slew of Federal Reserve speakers. After struggling for direction in the first hour of Wall Street trading, the S&P 500 extended its advance above 5,000. Defying concerns about an overstretched market, equities kept climbing on … Read more
Good morning. Oil holds drop amid vague output cut plan by OPEC+, it was a strong month for US stocks and HPS Investment confidentially filed for IPO. Here’s what people are talking about. Oil steadied after tumbling on Thursday following an OPEC+ meeting that promised further output cuts but was hazy on the details. The … Read more
Markets have grown more pessimistic about the outlook for US economic growth, and if that continues in a substantial way it may offer a chance to buy stocks, according to Goldman Sachs Group Inc. The under-performance of cyclical equities this month signals concern that the recent tightening of financial conditions will stymie economic growth, Goldman … Read more
A chunk of the Golden State Warriors, the National Basketball Association’s most successful team over the past decade, is up for sale, according to people familiar with the matter. A group of minority investors accounting for just over 10% are looking to offload their stake, said the people, who asked not to be identified discussing … Read more
To get John Authers’ newsletter delivered directly to your inbox, sign up here. In The Hitchhiker’s Guide to the Galaxy, a giant computer called Deep Thought is programmed to calculate the answer to the ultimate question of life, the universe and everything. Millions of years later, its circuits finally reveal the answer to the humans … Read more
It turns out generative AI companies can generate a significant amount of money, but it still may not be enough to pay the bills. OpenAI Inc. is on track to bring in $1 billion in annual revenue from businesses paying to use the technology that powers the company’s best-known tool, ChatGPT. The startup is said … Read more
The holy grail of stock investing is buying great companies on the cheap. Stock picker Peter Lynch plied a variation of that strategy to fame and fortune in the 1980s using his so-called PEG ratio. It compares companies’ valuation, as measured by their price-earnings ratio, with expected growth to find stocks that offer the highest … Read more