Meta Slashes Hiring Plans, Girds for 'Fierce' Headwinds

The Facebook owner cut plans to hire engineers by at least 30% this year as Mark Zuckerberg warned of a deep economic downturn.

The chip boom likely over, as Micron says it's in a 'downturn'

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Exclusive-Meta slashes hiring plans, girds for 'fierce' headwinds

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Bitcoin price outlook: Technicals say 27% fall to 2019 high is possible

The world's most valuable cryptocurrency fell below $19,000 on Thursday to test a key support level. Bitcoin's secondary support level sits at $13,900, representing potential downside of about...

Who decides if the US is in a recession? Eight White economists you've never heard of

NBER has never had a member who has been a racial minority. The group includes two women, one of whom is married to another member. All NBER members are over 60 years old, and they are associated...

Home Depot's 34% Plunge Offers Attractive Entry Point

The era of easy growth has ended for the home improvement giant. The recent downturn in Home Depot stock leaves no question that the era ofEasy growth has end for the Home Depot. The stock is down...

Recession stars: The best stocks in every industry during economic downturns

Bank of America upgraded shares of Goldman Sachs to buy from neutral. UBS downgraded shares of Ebay to neutral as discretionary purchases make up the bulk of its merchandise. Ark Invest CEO Cathie...

Why one analyst thinks Carnival stock could go to $0

Carnival stock could fall to $0 in the event of a global economic downturn. "If there is a demand shock that causes trip cancellations or weak bookings... liquidity could quickly shrink," Morgan...

Here’s which Silicon Valley tech companies ordered layoffs, hiring freezes

High-profile tech CEOs said they are slashing numbers in their workforces. Telsa CEO Elon Musk hit the pause button on hiring because he has a "super bad feeling" about what will happen next....

The first phase of the market downturn is close to done. Two more to go: Billionaire investor Jim Coulter

TPG's Jim Coulter says declines in stock market multiples are the "first chapter" in a downturn. What comes next will further weigh on stocks as inflation hits earnings, he says. There will be a...

ARK Invest's Cathie Wood says the US is already in a recession

Cathie Wood, CEO of Ark Invest, says the U.S. is already in an economic downturn. Wood says she underestimated the severity and lasting power of inflation. The innovation-focused investor said...

Goldman Sachs and Wells Fargo Boost Shareholder Payouts

Four of the six biggest banks boosted their dividend payments on Monday. The collective 15% increase in payouts is relatively muted compared with last year. The Federal Reserve said the banks are...

Apathetic’ investors will embrace banks: RBC top analyst predicts comeback in year’s second half

RBC Capital Markets' top banking analyst predicts bullishness will make a comeback. Gerard Cassidy predicts strong revenue growth and optimism surrounding credit. "You can really see people coming...

All the recession warning signs this week

Consumer sentiment has plunged to a record low, according to a University of Michigan survey. The government's primary inflation gauge saw prices surging 8.6% for the past 12 months. The Fed is...

What to expect from a recession 'everyone' sees coming: Morning Brief

It seems like "everybody" these days is saying we’re going into recession. So: are they right? What even is the economy? Ask this question enough ways and we're quickly into late-night dorm...

Banks rally after stress test, Bank of America underperforms

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Former Obama economist warns stagflation threat level is 'highest in a long time'

The danger of the U.S. economy returning to a 1970s-style stagflation scenario is the highest it's been in decades, says former President Barack Obama's top economic adviser. "It's the biggest...

Fed Stress Tests Show Banks Can Withstand Severe Recession

The annual tests hold new significance as inflation persists and signs of a coming downturn continue to accumulate. The largest banks in the United States are well capitalized and could weather a...

S&P 500 could plunge another 20% as recession risks rise: Morgan Stanley

The S&P 500 has gotten crushed in a widespread sell-off this month. The benchmark index is likely to tumble even lower if the economy falls into a recession, analysts say. Morgan Stanley...

Suze Orman has a warning for those who want to quit in the Great Resignation

Suze Orman: More than 4.4 million Americans quit their jobs in April. Job openings hit 11.9 million, according to the U.S. Department of Labor. "Everything is more expensive," says Orman, who...

Can media companies weather a recession? Executives say they're in stronger shape this time

Media job losses have spiked in each of the last three recessions. Media executives are hopeful they've learned lessons and streamlined their businesses to weather a potential recession. One...

Veteran strategist is betting the market will avoid a recession

Economists, executives, banks, world banks, central banks, and celebrities all predicting a looming recession. Pessimism abounds in global markets these days, with economists, executives and banks...

Fed Chair Jerome Powell Says Higher Interest Rates Could Cause a Recession

Federal Reserve Chairman Jerome Powell said interest rates would continue to rise until the central bank sees clear proof that inflation is slowing. “It’s not our intended outcome at all, but it's...

Fed Paper Finds Elevated Probability of Recession

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Citigroup raises global recession odds to 50% as consumer demand softens

Citigroup now sees even odds the globe enters a recession. The bank cites evidence showing the consumer is starting to pull back on spending. "We conclude that central banks face a daunting...

Tech firms cut staff amid recession fears

The hiring impacts are hitting companies of all sizes across tech, from industry giants to more nascent startups. “It’s the perfect storm for tech companies,” said Dan Ives, an analyst at Wedbush....

Goldman warns recession risks now higher and 'more front-loaded'

Goldman Sachs: 30% probability of recession over the next year, up from 15% previously. A 25% chance of a recession in 2023 if one is avoided this year. That means there is, in total, a 48% Chance...

Tuesday's market bounce allows us to raise some cash to buy in the next downturn

The portfolio will own 300 shares of AbbVie – decreasing its weighting to 1.57% from 1.91%. It will also reduce its Wynn Resorts holding by 100 shares priced at roughly $55.01 each. The market is...

Anticipating U.S. downturn, Elon Musk details Tesla staff cuts

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Recession outlook: Wall Street, Main Street worry after rate hike

Morgan Stanley, UBS and Wells Fargo all said that a recession became more likely last week. The Fed is hiking interest rates as it looks to tackle soaring inflation. Consumer sentiment polls are...

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