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S&P 500 closes near a record high as investors bet on minimal impact from Omicron

Scott Heins/Getty Images Wall Street's main stock indexes closed higher Wednesday, overcoming earlier pressure.  The Russell 2000 index of small-cap stocks also stood out in a third consecutive session of gains for Wall Street.  The S&P 500's last record high was set in mid-November, above 4,700.  US stocks ended higher Wednesday, as the week's rally resumed on the back of easing concerns that the Omicron strain of coronavirus would have a significant impact on the global economy....
Tags: US, Trends, Markets, Stocks, Goldman Sachs, Pfizer, S&P 500, Dow Jones Industrial Average, Nasdaq Composite, Chris Beauchamp, David Solomon, Carla Mozee, U S Bank Wealth Management, First Trust, BioNtech, Rob Haworth


13 reasons that help explain the labor shortage in the US

Vladimir Vladimirov/Getty Images This year, businesses have been reporting difficulty filling open jobs, as workers quit at record highs. Businesses call it a "labor shortage", but it's a complicated mix of many different economic factors. Those include childcare, systemic racism, and multiple mismatches between workers and open jobs. It's been seven months of people quitting their jobs at near-record highs, and businesses are continuing to complain that they just can't find worke...
Tags: Labor, US, America, Trends, Bloomberg, Mit, Harvard, Bureau of Labor Statistics, Reddit, Goldman Sachs, Npr, Wall Street Journal, Los Angeles Times, Cnbc, Glassdoor, Trump


US stocks trade mixed following massive rally on receding Omicron fears

Xinhua News Agency/Getty Images Major US stock benchmarks were mixed on Wednesday following a massive Tuesday rally. Pfizer and BioNTech said data indicate a third dose of their vaccine neutralizes the Omicron coronavirus variant.  The S&P 500's rebound from the Omicron sell-off leaves the index up about 26% in 2021.  US stocks were mixed on Wednesday after a big rally in the previous session as concerns about the impact of the Omicron coronavirus variant on the global economy ebbed. Stoc...
Tags: US, Trends, Markets, Stocks, Goldman Sachs, West Texas Intermediate, Pfizer, Santa, S&P 500, Dow Jones Industrial Average, Fed, Nasdaq Composite, Chris Beauchamp, David Solomon, Carla Mozee, First Trust


Goldman Sachs CEO David Solomon says don't expect stocks to keep delivering double-digit returns, because the boom won't last forever

David Solomon, CEO of Goldman Sachs.Matt Winkelmeyer/Getty Images Don't expect stocks to keep delivering the bumper returns of the past few years, Goldman Sachs' CEO said. Double-digit equity returns can't be expected to compound in perpetuity, David Solomon told CNBC Tuesday. While Solomon believes in fintech, cryptos like bitcoin or ether don't matter to him personally. Investors should expect lower returns in stocks over the next couple of years, because the market's cu...
Tags: US, Trends, Bitcoin, Goldman Sachs, Federal Reserve, Goldman, Cnbc, Solomon, David Solomon, Goldman Sachs CEO, Shalini Nagarajan, Goldman Sachs Matt Winkelmeyer Getty Images Don


Check out 26 pitch decks that fintechs disrupting trading, banking, and lending used to raise millions

Check out these pitch decks for examples of fintech founders sold their vision.Yulia Reznikov/Getty Images Insider has been tracking the next wave of hot new startups that are blending finance and tech.  Check out these pitch decks to see how fintech founders sold their vision. See more stories on Insider's business page. Fintech VC  funding hit a fresh quarterly record of $22.8 billion in the first three months of 2021, according to CB Insights data. While mega-rounds helped propel overa...
Tags: Amazon, South Korea, New York, Ebay, New York City, Israel, US, Tel Aviv, Los Angeles, Trends, Walmart, Atlantic, United States, Royal Dutch Shell, Pimco, Dallas


10 things before the opening bell

Investors have been facing market volatility thanks to the new Omicron variant.Xinhua News Agency/Getty Images Welcome to 10 Things Before the Opening Bell.If this was forwarded to you, sign up here. Plus, download Insider's app for news on the go – click here for iOS and here for Android.Let's jump in. 1. Omicron and the US economy. The new virus variant — which has now spread to one-third of US states — may end up stemming the inflationary tide that's gripped the economy. That...
Tags: Apple, Florida, Texas, Amc, US, Newsletter, Trends, Markets, Tesla, Ubs, Tom Brady, SEC, Goldman Sachs, 10 Things, Jpmorgan, AutoZone


Goldman Sachs CEO Expects Higher Inflation

NEW YORK (Reuters) - Goldman Sachs Chief Executive David Solomon anticipates inflation will be higher for a period but doesn't expect a repeat of...
Tags: New York, Goldman Sachs, Reuters Goldman Sachs, David Solomon


China's middle class is starting to look a lot like America's, and that's not a good thing

In both China and the US, it's now hard for the middle class to do better than their parents.buzbuzzer / Getty Images Housing is increasingly unaffordable for China's middle class, and household debt levels are rising. China's middle class faces the real possibility of not being able to do better than their parents. In other words, China's middle class is starting to look a lot like America's. China's middle class has grown explosively in the past twenty years.In 2000,...
Tags: China, Berlin, US, America, Trends, Beijing, Canada, Asia Pacific, Goldman Sachs, Pew Research Center, Shenzhen, Wright, Center for Strategic and International Studies, Shanghai Beijing, Rand Corporation, Shanghai Shenzhen


Key indicators hint the supply-chain crisis is over and inflation will cool off soon

Xinhua/Wang Ying via Getty Images Businesses have fallen short of meeting consumer demand this year. That drove prices sharply higher. Recent US manufacturing indicators show supply starting to match Americans' spending. Bottlenecks at ports are also easing, hinting the months-long supply crisis is finally wrapping up. The supply-chain crisis appears to finally be reversing course. Call it this year's Christmas miracle.The final months of 2021 have been a mixed bag for the US recovery...
Tags: California, US, Trends, Chicago, Goldman Sachs, Oxford Economics, Institute for Supply Management, IHS Markit, Ben Winck, Getty Images Businesses, Xinhua Wang Ying, Oren Klatchkin


3 reasons the labor shortage might stick around for years, according to JPMorgan

A Now Hiring sign hangs near the entrance to a Winn-Dixie Supermarket on September 21, 2021 in Hallandale, Florida.Joe Raedle/Getty Images Labor shortages have persisted for months, as employers complain they can't find workers. JPMorgan says that shifting demographics, the pandemic itself, and demand for goods are all driving shortages. But as workers re-examine, and these factors slowly ease, shortages could stick around for years. In case you haven't noticed the "now hiring" signs ...
Tags: US, Trends, Bureau of Labor Statistics, Goldman Sachs, Goldman, Cnbc, Trump, Jpmorgan, Baby Boomers, Kelly, David Kelly, Census Bureau, Hillary Hoffower, Andy Kiersz, Juliana Kaplan, Hallandale Florida


Goldman Sachs sees lower US GDP growth in 2022 on worries Omicron could threaten recovery

Crowds of people crossing street on zebra crossing in New York, USAAlexander Spatari/Getty Goldman Sachs cut its 2022 US GDP growth outlook on Sunday due to risks posed by the Omicron variant. The bank now sees annual US GDP growth for 2022 at 3.8%, lower than a prior estimate of 4.2%. This latest variant could further deteriorate the goods supply shortage if other countries tighten restrictions, Goldman said. Goldman Sachs has cut its outlook for US economic growth in 2022, pointing to risks...
Tags: US, Trends, Bank Of America, Cnn, South Africa, Goldman Sachs, Anthony Fauci, Goldman, Briggs, Botswana, COVID, Joseph Briggs, Shalini Nagarajan, New York USAAlexander, Spatari Getty Goldman Sachs


Goldman Sachs cuts US GDP growth forecast for 2022 over Omicron fears

Goldman Sachs on Saturday cut its outlook for U.S. economic growth to 3.8% for 2022, citing risks and uncertainty around the emergence of the Omicron variant of the coronavirus.
Tags: US, Cnn, Goldman Sachs


The labor shortage is permanent, survey suggests

Rachel Flores Labor shortages have persisted for months, as employers scramble to hire and retain workers. A new survey shows unemployed workers may not return anytime soon, if at all.  It suggests that workers might be driving a more permanent shift in the labor market. For months, employers have been telling stories of a labor shortage, as they struggle to hire and fill understaffed workplaces.They may be singing this tune for a long time.The right-leaning US Chamber of Commerce polled 529 ...
Tags: US, Trends, Goldman Sachs, US Chamber of Commerce, Rachel Flores, Juliana Kaplan, Beth Ann Bovinos


Goldman Sachs, Other Wall Street Banks Exploring Bitcoin-Backed Loans

Goldman Sachs is among a handful of tier-one U.S. banks figuring out how to use bitcoin as collateral for cash loans to institutions, CoinDesk reported Thursday, citing people familiar with the plans. From the report: Banks such as Goldman will not touch cryptocurrency spot markets but lean towards synthetic crypto products such as futures. Emulating tri-party repo type arrangements (a way of borrowing funds by selling securities with an agreement to repurchase them, involving a third-party agen...
Tags: Tech, Goldman Sachs, Goldman, Goldman Sachs Other Wall Street Banks


A tiny 330-square-foot home in California recently sold for over $1 million — see inside

The 114 Mountain View Ave tiny home in Santa Cruz, California.Aerial Canvas A tiny home in Santa Cruz, California about 1.5 hours from San Francisco sold for over $1 million. Its previous owners purchased the home for $250,000 in 1999. Tiny homes have recently become popular, but this home's buyers were more interested in its charm. It's no secret real estate prices have been sky-high throughout 2021. The 114 Mountain View Ave tiny home in Santa Cruz, California.Aerial Canvas So...
Tags: Minneapolis, California, Boston, Massachusetts, US, San Francisco, Trends, United States, Goldman Sachs, Santa Cruz, Santa Cruz California, Glenview Ill, Newton Massachusetts, Seabright, Bruce Bisping Star Tribune, Brittany Chang


Goldman Sachs CEO warns taxes could be NYC's downfall, saying urban centers aren't guaranteed a 'permanent place in the world'

Goldman Sachs CEO David Solomon warns that New York tax hikes will drive wealthy New Yorkers and corporations out of the state.Associated Press Goldman Sachs' CEO slammed the prospect of tax hikes in NYC, saying they'd threaten its financial hub status. Many people left during the pandemic, and Solomon told the FT NYC has to be careful or they might not return.  The taxes he referenced are aid for those hit hardest by the pandemic, like low-income New Yorkers of color. Goldman Sachs&#...
Tags: Florida, New York, Texas, NYC, New York City, Trends, Bloomberg, Joe Biden, United States, Goldman Sachs, Biden, Andrew Cuomo, Goldman, Tribeca, Reuters, Honolulu


Boost Your Business with Amazon Lending

Sell here, borrow here. Once you have a seller’s account with Amazon, you may be eligible to borrow up to $750,000. What is Amazon Lending? Amazon launched Amazon Community Lending as a pilot program in 2011. From 2011 through 2019, borrowers got about $710 million in funding. Amazon Lending provides short term business loans for qualified sellers. The sellers use the funds to get additional inventory. Amazon Lending works in partnership with Goldman Sachs and other third party lenders. The a...
Tags: Amazon, US, Sales, Goldman Sachs, Small Business Loans, Amazon Sellers, Amazon Lending, Amazon Marketplace Amazon, Amazon Lending Program, Amazon Does Amazon, Amazon Community Lending, Amazon Lending Work, Amazon Loan, Choose a Financing Option Choose


Young Wall Streeters are going wild for crypto. Their bosses don't know what to do about it.

Welcome back to Insider Weekly! I'm Matt Turner, the editor in chief of business at Insider.Goldman Sachs polled its interns earlier this year on everything from posting to TikTok to the climate crisis. One takeaway: 21% said they'd invested in cryptocurrencies. Given that Wall Street and its workforce are typically heavily regulated and tracked, I found this striking. In the past, financial institutions have waged war on their staffers communicating on encrypted messaging apps, such as ...
Tags: Google, Amazon, Washington, Wall Street, China, Trends, Xi Jinping, Yale, New York Times, Reddit, Citigroup, Goldman Sachs, Andreessen Horowitz, Zillow, Alex, Marc Andreessen


Jared Kushner built strong relationships with wealthy Arab states when Trump was president, but investment from regional players for his new business is yet to be nailed down, report says

Jared Kushner, the son-in-law of Donald Trump, played a key role in the administration's Middle East policy.Anna Moneymaker-Pool/Getty During the Trump presidency, his son-in-law Jared Kushner worked extensively on Middle East policy. Kushner is courting Persian Gulf countries to try and raise money for his new investment firm, says the NYT. Kushner is having mixed success, with some countries concerned over his business track record. Jared Kushner is turning to the Middle East, a region...
Tags: Politics, Saudi Arabia, White House, Israel, Trends, Qatar, New York Times, Middle East, News UK, United Arab Emirates, Nyt, Goldman Sachs, Donald Trump, Wall Street Journal, Uae, Arab


The latest news about the public relations industry, from pay and hiring to growth areas

Protesters against abortion restrictions gathered at the Texas State Capitol on May 21, 2019.Eric Gay/AP PR is getting more complex as companies and public figures seek help navigating social issues. The industry is also booming as firms see opportunity in areas like financial communications and data. Insider rounded up its coverage of all the big trends in the industry, from hiring to growth areas to M&A. Visit Business Insider's homepage for more stories. The public relations industry i...
Tags: Texas, Media, Advertising, US, Samsung, America, Trends, Public Relations, Weber Shandwick, Ikea, Crypto, Goldman Sachs, Deloitte, Edelman, Accenture, Coca Cola


Fed to Kick off Faster Tapering Plan From January - Goldman Sachs

LONDON (Reuters) - The U.S. Federal Reserve will likely double the pace of tapering its monthly bond purchases from January to $30 billion, and...
Tags: London, Goldman Sachs, Fed, Reuters The U S Federal Reserve


Feuding CEOs aside, JPMorgan's analysts are highly bearish on Tesla. They see the stock falling 77% over the next year.

Tesla boss Elon Musk has overseen a huge rise in the company's stock price.Frederic J. Brown/Getty Images Disagreements between Tesla and JPMorgan have sprung out into the open over the last two weeks. But feuding CEOs aside, JPMorgan's analysts have long been some of the most pessimistic voices on Tesla stock. The Wall Street titan's research unit thinks Tesla shares should be 77% lower in 12 months' time and gives an "underweight" rating. Disagreements between JPMorgan and T...
Tags: Elon Musk, US, Trends, Tesla, Bloomberg, Goldman Sachs, Morgan Stanley, Jefferies, Jpmorgan, Oppenheimer, Michael Burry, Brinkman, Tesla Tesla, Harry Robertson, Ryan Brinkman, Frederic J Brown Getty


10 things before the opening bell

President Joe Biden in the White House on November 6, 2021.Alex Brandon/AP Photo Welcome to 10 Things Before the Opening Bell.If this was forwarded to you, sign up here. Plus, download Insider's app for news on the go – click here for iOS and here for Android.Programming note: There will be no newsletter tomorrow morning. Have a happy Thanksgiving. Let's jump in. 1. Biden releases oil reserves in his first move against inflation. Alongside announcements from several other countries, th...
Tags: Microsoft, White House, US, NFL, Trends, Joe Biden, Goldman Sachs, Biden, Energy Information Administration, Fed, US Department of Energy, David Kostin, Odell Beckham Jr, Jerome Powell, Alex Brandon, Phil Rosen


US regulators will issue guidance for banks dealing with cryptocurrencies in 2022

Thomas Trutschel/Photothek via Getty Images US regulators said they plan to issue guidance next year on the role of traditional banks when it comes to dealing with cryptos. The agencies include the Board of Governors of the Federal Reserve, the FDIC, and the OCC. They analyzed digital asset activities banks may be interested in such as custody and sales of crypto assets. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US regulators said they plan to issue guidance ne...
Tags: US, Trends, Citigroup, Goldman Sachs, Federal Reserve, JPMorgan Chase, FDIC, US Bank, Federal Deposit Insurance Corporation, Board of Governors of the Federal Reserve, Office of the Comptroller of the Currency, Thomas Trutschel Photothek, Getty Images Us, Isabelle Lee


Fed Terminates 2016 Enforcement Action Against Goldman Sachs for Confidential Data Misuse

WASHINGTON (Reuters) - The U.S. Federal Reserve announced Tuesday it had terminated a 2016 enforcement action against Goldman Sachs, which had been...
Tags: Washington, Goldman Sachs, Fed, Reuters The U S Federal Reserve


Elon Musk reportedly threatened to give JPMorgan a 'one star review on Yelp' if it doesn't withdraw its lawsuit

Elon MuskPool An ongoing legal dispute between JPMorgan and Tesla led Elon Musk to fire back at the bank in a recent WSJ article."If JPM doesn't withdraw their lawsuit, I will give them a one star review on Yelp," Musk said.JPMorgan says Tesla owes the bank $162 million from a warrant trade dating back to 2014.An ongoing legal dispute between JPMorgan and Tesla has elicited a memorable response from Elon Musk, according to a report from The Wall Street Journal."If JPM doesn't withdraw ...
Tags: Elon Musk, Trends, Tesla, Goldman Sachs, Wall Street Journal, WSJ, Musk, Elon, Jpmorgan, Matthew Fox, Morgan Stanley Tesla, Yelp Musk, Wall Street Journal On Twitter Musk


25 Wall Street rising stars at firms like Blackstone, Tiger Global, and Goldman Sachs

From left: Julia Jaskolska of CalPERS, Christopher Oglesby of Bank of America, Connie Lee of Tiger Global, and Lalit Gurnani of Goldman Sachs.CalPERS; Bank of America; Tiger Global Management; Goldman Sachs; Samantha Lee/Insider Each year, Insider highlights Wall Street rising stars.  These are up-and-comers in investment banking, trading, and asset management.  All are 35 or younger. Check out our full list.  From shaking up investing at the largest US pension system to deploying make-or-bre...
Tags: US, Trends, Bank Of America, Goldman Sachs, Tiger Global, Tiger Global Management, Samantha Lee, Insider Inc, Goldman Sachs BlackRock, Julia Jaskolska, Lalit Gurnani, Goldman Sachs CalPERS, Blackstone Tiger Global


A 'Santa rally' could push US stocks to new heights this winter, as buybacks and low bond yields help power the market

Stocks have remained buoyant despite strong inflation.Xinhua/Wang Ying/Getty Images Investors are optimistic stocks will stay strong in coming weeks, as the traditional "Santa rally" takes shape. This year, equities could be boosted by buybacks, low bond yields, a growing economy and bullish retail traders. Stocks have been buoyant despite inflation at a 31-year high and central banks' plans to cut support for the economy. Inflation is at its strongest in 31 years, US stocks are at record...
Tags: Europe, US, Trends, Bank Of America, Barclays, Goldman Sachs, Federal Reserve, Santa, Societe Generale, Tina, Wharton, Jeremy Siegel, Harry Robertson, Laidler, Ben Laidler, Richard Clarida


How Your Business Can Benefit from the Cashless Payment Revolution

A study by PWC predicts that global cashless payment volumes will double from 2020 to 2025, to almost 1.9 trillion transactions, and will almost triple by 2030, due to the changes brought by the COVID pandemic. We’re going to continue to see these effects from the pandemic ripple throughout the next few years. This week on The Small Business Radio Show, Stoyan Kenderov is the Chief Product and Technology Officer at Plastiq, leads the product efforts for one of the most innovative and disruptive...
Tags: Sales, Pwc, Goldman Sachs, Quicken, Technology Trends, Plastiq, Stoyan Kenderov, America Prior to Plastiq Stoyan, Small Business Radio Show Stoyan Kenderov, Lending Club Interview, Plastiq Stoyan, Stoyan


Goldman calls oil's recent fall excessive, reiterates $85 forecast | Reuters

Goldman calls oil's recent fall excessive, reiterates $85 forecast | ReutersThe recent declines in oil prices were "excessive" given that the oil market remains in a deficit, Goldman Sachs said, adding that it reiterates its $85-per-barrel forecast for the fourth quarter.Oil prices came off seven-week lows on Monday but they remained under pressure after Japan said it was weighing releasing oil reserves and as the worsening COVID-19 situation in Europe raised demand concerns. read more"The magni...
Tags: Travel, Europe, Japan, Goldman Sachs, Goldman, Reuters, Rupert Neil Bumfrey