Citi Strategists Upbeat on U.S. Stocks in 2024, Fueled by Earnings

By Lewis Krauskopf NEW YORK (Reuters) – The S&P 500 is poised for solid gains next year on strong earnings growth and a broadening of the stock market’s rally, strategists at Citigroup said on Friday. The bank’s “base case” calls for the benchmark S&P 500 to end 2024 at 5,100, an 11% gain from current […]

More Than 10 Million People Have Signed Up for X in December, CEO Says

(Reuters) – More than 10 million people have signed up for X in December, X CEO Linda Yaccarino said in a post on the social media platform on Thursday. This comes as the company, formerly known as Twitter, risks losing as much $75 million in advertising revenue by the end of the year as major […]

McDonald’s plots rapid growth with 10,000 new stores, loyalty expansion

By Deborah Mary Sophia (Reuters) -McDonald’s is planning to open about 10,000 restaurants globally by 2027, in what could be the fast-food giant’s fastest period of growth in its history, it said on Wednesday. The company also laid out plans to double sales from its loyalty program to $45 billion and increase the user base […]

Elon Musk’s AI firm xAI files to raise up to $1 billion in equity offering

(Reuters) -Elon Musk’s artificial intelligence startup xAI has filed with the U.S. securities regulator to raise up to $1 billion in an equity offering, according to a filing on Tuesday. The company has raised $134.7 million in equity financing from a total offering amount of $1 billion, the filing with the Securities and Exchange Commission […]

Oil falls to near 5-month low on OPEC+ cut doubts, demand concerns

By Scott DiSavino NEW YORK (Reuters) – Oil prices fell to a near five-month low on Tuesday on a stronger U.S. dollar and demand concerns, putting the market down for a fourth day in a row on doubts over OPEC+ announced voluntary supply cuts last week. “The OPEC+ deal did little to support prices and […]

‘Way Too Early’ to Declare Victory Over Inflation, Says Ecb’s Nagel

NICOSIA (Reuters) – Euro zone inflation will carry on declining in the months ahead but at a slower pace, Bundesbank President Joachim Nagel was quoted as telling Cypriot newspaper Kathimerini on Sunday. Euro zone inflation eased to 2.4% in November from 2.9% in October, well below expectations for a third straight month and fuelling market […]

UAW Launches Bid to Organize Tesla and ‘Entire Non-union Auto Sector’ in U.S.

By David Shepardson WASHINGTON (Reuters) -The United Auto Workers union said on Wednesday it is launching a first-of-its-kind push to publicly organize the entire nonunion auto sector in the U.S. after winning new contracts with the Detroit Three automakers. The Detroit-based UAW said workers at 13 nonunion automakers were announcing simultaneous campaigns across the country […]

    Newsletter

    Citi Strategists Upbeat on U.S. Stocks in 2024, Fueled by Earnings

    December 8, 2023

    By Lewis Krauskopf NEW YORK (Reuters) – The S&P 500 is poised for solid gains next year on strong earnings growth and a broadening of the stock market’s rally, strategists at Citigroup said on Friday. The bank’s “base case” calls for the benchmark S&P 500 to end 2024 at 5,100, an 11% gain from current […]
    Read More