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Elon Musk announced plans for the Department of Government Efficiency (DOGE) to investigate how certain members of Congress have amassed significant wealth despite modest salaries. He raised concerns about potential financial misconduct involving funds from the US Agency for International Development, suggesting a circuitous route of money that may benefit lawmakers. Musk's visit to Wisconsin also included support for conservative judicial candidate Brad Schimel, where he distributed $1 million checks to draw attention to his campaign against "activist judges."
Goldman Sachs has downgraded its S&P 500 forecast, now predicting a modest 3% increase by year-end, down from 12%. The bank anticipates a 15 percentage point rise in average US tariffs, leading to inflation hitting 3.4% and a 35% chance of recession within the next year. If a recession occurs, profits for S&P 500 companies could drop by 13%, potentially causing a 17% decline in stock values. Investors are increasingly favoring foreign stocks, particularly in Europe, as US economic pressures mount.
AT&T's stock price target has been raised by Citigroup from $28.00 to $32.00, indicating a potential upside of 13.17%. Analysts have generally rated the stock as a "Moderate Buy," with a consensus price target of $27.00, while the company reported a quarterly EPS of $0.54, surpassing estimates. Institutional investors hold 57.10% of AT&T's shares, reflecting growing interest in the telecommunications sector.
Goldman Sachs has issued a warning that the likelihood of a recession is increasing due to escalating tariffs and heightened global trade tensions. This alert highlights the potential economic challenges that may arise in the near future.
Circle is set to file for an IPO in late April, partnering with JPMorgan and Citi, aiming for a valuation between $4 billion and $5 billion. This move follows a previous attempt that was abandoned in 2022 due to market conditions and regulatory scrutiny. The anticipated IPO could be the largest in the crypto sector since Coinbase's debut in 2021.
Goldman Sachs analyst Michael Ng has reaffirmed a Buy rating on Apple (NASDAQ: AAPL) with a price target of $294.00. The positive outlook reflects confidence in the company's performance and market position.
The S&P 500 experienced a decline on Monday following a target cut by Goldman Sachs. The analyst's revision raised concerns about an increased risk of recession, contributing to the market's downward movement.
Circle, the issuer of USDC, has engaged JPMorgan and Citi to facilitate its public offering, anticipated for late April. The move marks a significant step for the company as it seeks to expand its presence in the financial markets.
Circle Internet Financial, creator of the USDC stablecoin, is preparing for an IPO with guidance from JPMorgan and Citi, aiming to file documentation by late April 2025. The company seeks a valuation of $4 billion to $5 billion, a decrease from its previous $9 billion target, as it faces scrutiny over its revenue reliance on USDC reserves. With USDC's market cap surpassing $60 billion, this IPO could be the most significant in the crypto sector since Coinbase's debut in 2021.
Deutsche Bank has revised its 2025 U.S. auto sales forecast, lowering the Seasonally Adjusted Annual Rate (SAAR) to 15.4 million units, down from 16 million, due to tariff concerns. March's SAAR is projected at 16.9 million, reflecting a year-over-year growth of 4.5%, driven by a 38.4% increase in fleet sales, while retail sales are expected to decline by 1.6%. Despite a slight decrease in average transaction prices and incentives, strong sales are anticipated in April and May as consumers rush to purchase vehicles before potential price hikes.
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Elon Musk investigates wealth of Congress members amid election campaign efforts
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18:07 31.03.2025
goldman sachs downgrades s p 500 forecast amid rising inflation and recession fears
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Goldman Sachs warns of increasing recession risks amid trade tensions
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circle internet financial plans ipo with jpmorgan and citi guidance
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17:45 31.03.2025
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