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Real estate stocks extend losses as rates soar

Shares in real estate companies fell on Friday, adding to a massive sell-off the previous day, when bond yields jumped to their highest levels in 16 years after the Federal Reserve signaled that U.S. interest rates would stay high for longer. The S&P 500 real estate index lost 0.7% on Friday after falling 3.5% on Thursday, which was its biggest daily decline since March when the banking sector was in crisis. The U.S. Treasury 10-year yield, fell slightly on Friday, after rising on Thursda...
Al Iskandariyah United States Gina Szymanksi Jack Ablin David Gregorio Lance Tupper
Source: yahoo.com

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Dell shares hit record high after report, forecasts impress with AI in mix

Dell, on track for its biggest ever daily percentage gain, is up more than 70% for the year-to-date. "Results and guidance corroborated the improving order trends in the broader enterprise vertical" said JPMorgan analyst Samik Chatterjee, in a research note. Dell added to evidence of this trend from CDW Group, Cisco Systems and Hewlett Packard Enterprises, according to the analyst.
Jpmorgan Chatterjee Lance Tupper Samik Chatterjee Dell Technologies Inc Wells Fargo Hewlett Packard Enterprises
Source: aol.com

JPMorgan raises US economic growth estimate, no longer expects 2023 recession

The firm increased its current-quarter real annualized GDP growth estimate to 2.5% from 0.5%, Michael Feroli wrote in a research note on Friday. And while recession risks are still elevated for next year, Feroli said he expects modest, sub-par growth. Earlier this week, strategists at Bank of America said they no longer forecast a 2024 recession for the U.S. and increased their 2023 economic growth outlook for the country.
United States Jpmorgan Feroli Michael Feroli Deepa Babington Reporting By Sin Economic Growth
Source: yahoo.com

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