Jennifer Sor

The US’s chances of avoiding a recession just got smaller, according to Mohamed El-Erian.The top economist pointed to two trends that could help push the economy into a downturn.There are two reasons why America’s odds of avoiding a recession may be dwindling, according to top economist Mohamed El-Erian.The Allianz chief economic adviser has repeatedly sounded the alarm for a coming recession since 2022, the year the Federal Reserve began to aggressively raise interest rates to fight inflation.…

The boom in luxury goods is over as consumers pull back on their multiyear high-end spending spree.That’s evidenced by the rout in LVMH stock, which has fallen about 20% over the past six months.Consumers’ spending spree on high-end goods that kicked off during the pandemic has petered out. Luxury retailers that enjoyed bountiful profits during in recent years are beginning to feel some pain in 2023 as financial conditions tighten and consumers appear to pull back on ultra-high-end purchases.LVM…

"It's going to be a very, very ugly market owning real estate over the next 18 months to two years," Cantor Fitzgerald chief Howard Lutnick said.

Office buildings are facing a 30% peak-to-trough price correction, Morgan Stanley warned.The sector has yet to fully adjust to the massive disruption of remote work. America’s office market is in flux and prices have further to fall amid secular challenges facing the sector, Morgan Stanley analysts said in a note.The bank pointed to persistent pressure weighing on the office property market, with prices already having fallen around 20% from their peak, according to data from Real Capital Analyti…

US stocks fell on Friday as traders fretted over hot inflation data and continued to dial back their expectations for rate cuts in 2024. All three benchmark indexes ended the lower, while bond yields ticked slightly higher.The S&P 500 ended with its second straight weekly loss. Both consumer and producer prices came in hotter than expected this week, with the consumer price index rising 3.2% and the producer price index rising 1.6% year-per-year, the Bureau of Labor Statistics reported. Hot infl…

The stock market’s hype for AI will make it hard for the Fed to cut rates this year, Torsten Slok warned.That’s because the rally in stocks is easing financial conditions, countering the Fed’s tightening efforts.The frenzy for artificial intelligence overtaking stocks could make it hard for the Fed to cut interest rates this year.That’s according to Torsten Slok, the chief economist of Apollo Global Management. According to Slok, the Fed may not end up cutting interest rates this year at all, de…

The S&P 500 is bound to see another double-digit gain to end the year, CappThesis founder Frank Cappelleri said.The market vet sees the index hitting 6,100, so long as it stays above a key bullish threshold.The stock market is still primed for another year of double-digit gains, so as long as the S&P 500 remains above a key threshold: 4,800.That’s according to Frank Cappelleri, a Wall Street veteran and the founder of the research firm CappThesis, who thinks the S&P 500 is still on track to notc…

There's a rare type of mortgage loan gaining popularity among buyers seeking lower rates.

Stock market today: Indexes extend losses as traders watch Middle East tensions

Steep rate cuts aren't coming, according to one market veteran who sees a double-digit decline ahead for stocks.