A top Morgan Stanley strategist said that Wall Street is ripe for a short-term rally before falling deeper into a bear market. Shares in U.S based companies have been struggling since the start of the year, with the S&P 500 index on the verge of witnessing its biggest annual decline since the 2008 financial crisis….
Top Morgan Stanley Strategist Says Stocks Are Ripe for Relief Rally, but Warns of Coming Bear Market
October 18, 2022
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Morgan Stanley Warns Soaring Dollar Teeing Up ‘Something to Break’ in Markets
The recent surge in the U.S. dollar could soon lead to some kind of economic or financial crisis, according to Michael Wilson, chief U.S. equity strategist at Morgan Stanley. Wilson said in a note that even though such events are hard to predict, conditions are “in place” for the dollar to trigger such a development,…
Morgan Stanley to Pay $35 Million to Settle SEC Charges It Mishandled Customer Data
WASHINGTON—A Morgan Stanley unit has agreed to pay $35 million to settle Securities and Exchange Commission charges it repeatedly failed to safeguard personal information for millions of customers, the regulator said Tuesday. The SEC said that for five years, Morgan Stanley Smith Barney failed to protect personal identifying information for 15 million customers. The firm…
Mitsubishi UFJ Profit Dives on One-Off Losses Linked to US Unit Sale, Grab
TOKYO—Mitsubishi UFJ Financial Group Inc reported a 70 percent plunge in first-quarter net profit, blaming one-off losses related to the sale of MUFG Union Bank and a drop in the value of its stake in ride-hailing firm Grab Holdings. The bank, Japan’s largest lender by assets, booked an appraisal loss of 254 billion yen ($1.9…
Goldman Warns It May Slow Hiring, Cut Expenses as Deals Slump
July 19, 2022
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Business & MarketsGoldman Sachsinvestment bankingJPMorganMarketsMorgan StanleystocksU.S. Federal Reserve
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Goldman Sachs Group Inc on Monday warned it may slow hiring and cut expenses, as the economic outlook worsens, after reporting a 48 percent slump in quarterly profit which beat forecasts due to gains in fixed-income and commodities trading. U.S. Federal Reserve interest rate hikes, aimed at taming runaway inflation, have rattled global financial markets,…
Morgan Stanley Profit Slumps 30 Percent as Dealmaking Stalls
Morgan Stanley’s profit slumped 30 percent on Thursday, falling short of analysts’ estimates for the first time in nine quarters, as its investment banking business struggled to cope with a slump in global dealmaking. Revenue from investment banking plunged 55 percent in the second quarter, mirroring a similar drop at its larger Wall Street rival…
4 Big US Banks Raise Dividends After Stress Tests
June 29, 2022
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Bank of AmericaBusiness & MarketsCompanieseconomyinterest rateMorgan StanleyU.S. Federal ReserveUSUS News
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NEW YORK/WASHINGTON—Morgan Stanley, Goldman Sachs, Bank of America, and Wells Fargo hiked their dividends on Monday after the U.S. banks cleared their annual stress test exercise last week. The U.S. Federal Reserve said on Thursday the country’s largest lenders could easily weather a severe economic downturn, giving them a clean bill of health and paving…
S&P 500 Expected to Head Into a Bear Market in 2022
A potential recession is on the horizon, according to an April 25 report from Bloomberg that followed a warning from Morgan Stanley strategists that the S&P 500 will “drop sharply” this year. Investors are looking to to find financial havens after a steep market drop on April 22 stoked fears of a recession, with news of…
Morgan Stanley’s Dealmakers Shine as Profit Beats Estimates
Morgan Stanley outperformed rival Goldman Sachs in M&A advisory and its traders fared better than expectations, helping the investment banking powerhouse beat first-quarter profit estimates by a wide margin. The bank’s dealmakers nearly doubled advisory revenue even as Russia’s invasion of Ukraine unsettled equity markets and forced companies to hold off on dealmaking and stock…
Morgan Stanley Downgrades HP on Potentially Lower Hardware Spend
The hardware industry is at risk of losing market share to other technology sub-industries due to greater macro uncertainty, “leaving us incrementally more cautious on the group in 2022,” according to Morgan Stanley. The HP Analyst Erik Woodring downgraded the rating for HP Inc from Equal-Weight to Underweight, while reducing the price target from $34…
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