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Former Treasury Secretary Steven Mnuchin is planning an investment fund backed by Persian Gulf wealth funds, report says

Reuters Former Treasury Secretary Steven Mnuchin plans to launch an investment fund backed by sovereign wealth funds in the Persian Gulf, the Washington Post reported. The fund will invest in areas including financial technology and entertainment. Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Former Treasury Secretary Steven Mnuchin is planning to launch an investment fund that will be backed by sovereign wealth funds in the Persian Gulf region and other investor...
Tags: Washington Post, Saudi Arabia, White House, Trends, Markets, US Treasury, Sovereign Wealth Fund, Persian Gulf, Mnuchin, Former Treasury, Steven Mnuchin, Treasury Secretary Steven Mnuchin, Goldman Sachs Read, Emily Graffeo, Mnuchin investment fund, Persian Gulf Sovereign Wealth Funds


219 'blank-check' companies raised $73 billion in 2020, outpacing traditional IPOs to make this the year of the SPAC, according to Goldman Sachs

Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., March 17, 2020. Lucas Jackson/Reuters 2020 has been the year of the SPAC, with 219 "blank-check" companies raising $73 billion in proceeds year-to-date, according to a Thursday note from Goldman Sachs.The 462% year-over-year jump in proceeds raised by SPACs this year outpaced traditional IPOs, which raised $67 billion year-to-date.The SPAC craze accelerated over the summer, with more t...
Tags: New York, Finance, China, Ipo, Trends, Investing, Markets, Ubs, Trading, Goldman Sachs, Bill Ackman, New York Stock Exchange, Stock Market, Goldman, Jpmorgan, SPAC


A sizable correction in the stock market is not imminent despite stretched positioning, Goldman Sachs says

A surge in bullish investor sentiment is not enough to derail the stock market's recent rally and deliver a sizable correction, according to a Wednesday note from Goldman Sachs.Positive COVID-19 vaccine news in November helped stage a strong rally in stocks and led to investors piling into the market, staging a risk-on mode for the markets.But while sentiment indicators can be powerful contrarian signals when at stretched bearish levels, they are mixed when at extreme bullish levels, accordi...
Tags: Elon Musk, Trends, Tesla, Goldman Sachs, Goldman, Jpmorgan, Ron Baron, Matthew Fox, Goldman Sachs Read, Goldman Sachs Positive COVID


Goldman Sachs increases its 4th-quarter GDP-growth estimate to 5% on promise of mass vaccinations

Lisa Taylor receives a COVID-19 vaccination from RN Jose Muniz with the help of Karenda Palmer, a staff member, as she takes part in a vaccine study at Research Centers of America on August 07, 2020 in Hollywood, Florida. Joe Raedle/Getty Images The promise of mass vaccinations to quell the COVID-19 pandemic will help spur economic growth in the fourth quarter and beyond, according to Goldman Sachs.In a note on Tuesday, Goldman Sachs' Chief Economist Jan Hatzius increased its fourth quarter...
Tags: Europe, Congress, Finance, US, Trends, Investing, Markets, Joe Biden, Economy, Trading, Goldman Sachs, Stock Market, Morgan Stanley, Goldman, Fed, Hollywood Florida


Goldman doubles down on its call for 16% stock gains in 2021 with investors still sitting on mountains of cash

Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., March 17, 2020. Lucas Jackson/Reuters Investor allocation to stocks is stretched to near-historic levels, which could lead to a minor 1% to 2% decline in stocks in the short-term, Goldman Sachs said in a Monday note.But in the medium to long term, there is still room for investors to buy more stocks and drive the market higher due to heightened money market fund balances, according to ...
Tags: New York, Finance, US, Trends, Markets, Trading, Stocks, Goldman Sachs, New York Stock Exchange, Stock Market, Goldman, S&P 500, Fed, Ray Dalio, Matthew Fox, Stock Market Today


How to play vaccine-driven market madness, plus 4 investing pillars from the world's top stock-picker

Hello everyone! Welcome to this weekly roundup of Investing stories from deputy editor Joe Ciolli. Please subscribe here to get this newsletter in your inbox every week. REUTERS/John Gress Dear Readers,Did you enjoy Moderna Monday, which saw the Dow surge to all-time highs on positive vaccine news? Or perhaps you were more of a fan of the prior week's manic Monday, when Pfizer's trial efficacy sent the index soaring as much as 1,610 points.Regardless of your preference, the market is cle...
Tags: US, Trends, Investing, Markets, Stocks, Fidelity, Goldman Sachs, Pfizer, Stock Market, Morgan Stanley, Jefferies, Business Insider, Barron, Kiplinger, David Kostin, Danoff


Vaccine market madness — 4 investing pillars from the world's top stock-picker — Don't fret the value rotation

Dear Readers,Did you enjoy Moderna Monday, which saw the Dow surge to all-time highs on positive vaccine news? Or perhaps you were more of a fan of the prior week's manic Monday, when Pfizer's trial efficacy sent the index soaring as much as 1,610 points.Regardless of your preference, the market is clearly loving any sort of positive vaccine data. After months of yearning for signs of an accelerated economic recovery and overall return to normalcy, investors are finally getting something to chee...
Tags: US, Trends, Investing, Markets, Stocks, Fidelity, Goldman Sachs, Pfizer, Stock Market, Morgan Stanley, Jefferies, Business Insider, Don, Barron, Kiplinger, David Kostin


Lowe's is giving $100 million in bonuses to frontline workers

Mario Tama/Getty Images Lowe's announced it will give all hourly frontline workers $100 million worth of bonuses on November 13, ahead of holiday season. Full-time hourly associates will receive $300, and part-time workers will get $150. The company will also hire 20,000 seasonal workers at stores and distribution centers. Lowe's may see a rise in online orders during the holidays. Sales made on Lowe's website increased by 135% year-over-year as of August. Visit Business Insider's homepag...
Tags: Amazon, US, Trends, Walmart, Ellison, Lowe, Marvin Ellison, Mario Tama Getty, Allana Akhtar, COVID, Goldman Sachs Read


These 6 stocks are best positioned for the rollout of a COVID-19 vaccine, according to Goldman Sachs

A photo illustration show a syringe. Argentina was selected to test a vaccine against COVID-19, it is estimated that the clinical phases will begin in August. Carol Smiljan/NurPhoto via Getty Images Once a successful COVID-19 vaccine is developed, investor attention will quickly shift focus to the distribution and administration of the vaccine, Goldman Sachs said in a note on Friday.Goldman said it believes US vaccinations will be available within a few months from approval as pharmaceutica...
Tags: US, Trends, Argentina, Goldman Sachs, Morgan Stanley, Goldman, Cvs, Wba, Jpmorgan, Don, Becton Dickinson, EBIT, LTC, Matthew Fox, BDX, COVID


US economic reopening reaches halfway point on improved retail and hotel spending, Goldman Sachs says

A man decorates a bistro table outside his restaurant amid the novel coronavirus pandemic in Atlanta, Georgia on April 27, 2020. CHANDAN KHANNA/AFP via Getty Images Goldman Sachs' US reopening scale improved to five out of 10 last week, marking a halfway point in the nation's economic recovery. The jump followed progress made in the hotel, movie theater, and retail industries over Labor Day weekend, Goldman economists said. The bank's reopening index gained to 72 from 65 last week, reachin...
Tags: Christopher Nolan, US, Trends, Recession, Markets, Economy, GS, Netflix, Economic recovery, Goldman Sachs, Tsa, Goldman, Opentable, Bernstein, Macy, Atlanta Georgia


Apple Card Updates Privacy Policy to Allow for More Anonymized Data Sharing

When Apple announced its Apple Card nearly a year ago, it seemed like an alright card whose main selling point was enhanced privacy. Well with iOS 13.4, it appears that Apple has updated that privacy to allow for more anonymized data sharing with its banking partner Goldman Sachs. Read more...
Tags: Apple, Science, Privacy, Goldman Sachs, Apple Card, Trust No Bank, Goldman Sachs Read