top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Markets

11 Oct 2021

Goldman Sachs, JPMorgan Advise to buy into the Dip

The Index Today

Wall Street’s top banks are saying it may be a good time to buy the dip as slow economic growth will increase in the near future.

David J. Kostin from Goldman Sachs Group wrote, “Despite near-term uncertainty, we expect the equity market will continue to rally as investor gain confidence that the current pace of inflation is transitory.” The period of stagnation is expected to slow down and will ease fears according to strategists at JPMorgan Chase & Co.

The S&P Index fell 5% after its disappointing record in September and panic over inflation and prices. Supply bottlenecks and China’s property Recession have created doubts among investors regarding stock valuations and if they can be increased or not. Investors are fearing that the post-pandemic boom might slowly be coming to end and has already passed its peak period.

A recent survey conducted of professionals revealed that many think a 5% pullback may occur by the end of the year. On the other hand, Goldman Sachs and JPMorgan voiced their disagreement saying, “We believe this dip will prove a good buying opportunity, as 5% pullbacks usually have in the past. We finally got some weakness after 330 days of no greater than 5% pullbacks, but we don’t expect it to last, and advise to buy into the dip.”

Clay pottery with table linens
bottom of page