P 500 forecasts for the next three years: “By next year, we think worries about growth will be fading and, what’s more, the Fed will probably be in easing mode. That could create a backdrop for enthusiasm about equities – and AI specifically – to recover.”P 500 to fall to 4000 by the end of this year , but reach 5500 and 6500 by end-2024 and end-2025, respectively. That compares with our previous forecasts of 3800/4500/5000 for end-23/end-24/end-25.
Wilson said his team retains its view that growth will slow in the second half of 2023 and earnings will be hit. If growth stalls as he expects, Wilson said “many investors may be in for a rude awakening given the very big reach for risk we are seeing”. The agreement will give Rivian drivers access to more than 12,000 Tesla superchargers across the US and Canada beginning next year, according to a statement Tuesday. Rivian will also incorporate Tesla’s North American Charging Standard port into its existing EV models from 2025 and a future model called R2.Oil was lower after China’s decision to cut rates was met with disappointment.
Scotiabank: “Chinese banks cut their Loan Prime Rates at little less than expected. The 1-year 10bps reduction matched expectations, but the 5-year LPR cut of 10bps was a touch lighter than the 15bps cut expected by consensus. It’s the 5-year rate that is key to the property market in China.”