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Deutsche Bank AG (DB) Gets a Buy From Goldman Sachs
Deutsche Bank CEO says the bank will gradually improve in 2024
Deutsche Bank CEO Christian Sewing said the bank will further “gradually improve” next year, but efforts are still needed to convince shareholders that its transformation has been successful. The recovery of Germany's largest bank “remains a story that proves itself,” Sewing, 53, said Wednesday at the Financial Times Global Banking Summit in London. He said that Deutsche Bank must “better” explain to investors that a large part of its investment banking business revenue is stable. Since launching its transformation program four years ago, Sewing has been balancing cost reduction with growth investments and seeking improvement
If the ECB wants to reform its dividend policy, will European bank stock valuations be on par with Wall Street?
Some regulators plan to lobby the ECB to ease dividend restrictions, and they believe Enria's successor, Bucher, will support a relaxed stance.
Overnight highlights: US stocks closed higher, Munger passed away at age 99, Buffett deeply mourns the Fed's hawkish suggestion that interest rates will not be raised in December Amazon's “Cloud Computing Spring Festival Gala”
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Citi: The sharp rise in the S&P 500 index is weakening
Citigroup strategists say the upward momentum that drove the S&P 500 index to one of the best November gains in a century is weakening. The team led by Chris Montagu called the futures trading situation last week “mixed”, making the benchmark index's net position look “slightly pessimistic.” The Nasdaq 100 Index futures position is neutral. Montagu wrote in the November 27 report, “As S&P continues to rise for the fourth week in a row, the potential bullish signals released by the futures market are fading.” “The first phase of the rally was accompanied by the closing of a large number of short positions in October,” he said. him
External market headlines: US core inflation is difficult to cool down, interest rates may remain high for a long time, Deutsche Bank says the S&P 500 is expected to rise to 5,100 points, Sunak says fiscal austerity is unfounded
The main headlines that the global financial media focused on last night and this morning are: According to the latest survey of economists, one of the central inflation indicators that the Federal Reserve is concerned about is expected to slow down. This should keep interest rates at a high level for a longer period of time. The forecasting agency raised its year-over-year forecast for the core personal consumption expenditure price index (PCE) until the end of next year. Core PCE, which excludes volatile food and energy, is expected to grow 2.5% by the end of 2024, up from 2.4% in last month's survey. Meanwhile, the overall PCE and consumer price index (CPI) will decline faster than expected
Deutsche Bank strategists expect the S&P 500 index to rise to a record 5,100 points next year
More and more analysts are predicting that the S&P 500 index will reach a record high next year, while Deutsche Bank strategists' target for this benchmark index is the highest on Wall Street. The team led by Binky Chadha expects the S&P 500 index to hit 5,100 points by the end of 2024 against the backdrop of cooling inflation and a rebound in corporate profits, which means an increase of about 12% from current levels. “Although economic growth is above trend levels, core inflation has declined,” the strategists wrote in their report. “This continued downward trend will cause inflation to fall back to pre-pandemic levels without slowing economic growth
Deutsche Bank strategist: The S&P 500 index is expected to rise to a record 5,100 points next year
Deutsche Bank strategists expect the S&P 500 index to rise to a record 5,100 points by the end of next year, and its target position is the highest among major Wall Street banks. Bankim Chadha and other strategists wrote in the report that stock valuations are not high; the fair valuation is 18 times, and the range is 16-20 times; adding that profits are growing steadily but market views are still poor; if there is an economic slowdown or recession as widely anticipated, the stock market will sell off slightly and for a short time; as for the US presidential election, no matter which political party wins, the stock market usually rises after the general election.
Rumor has it that Barclays Bank (BCS.US) is formulating a major cost reduction plan and plans to lay off about 2,000 employees
People familiar with the matter revealed that British banking giant Barclays Bank is formulating a major plan to save up to 1 billion pounds (about 1.25 billion US dollars) in costs, which may involve layoffs of as many as 2,000 people.
Deutsche Bank Announces Acceptance Amount of Public Tender Offer for Deutsche Postbank Funding Trust I & III Securities
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE
External market headlines: OPEC+ meeting postponed until next week, the British Chancellor of the Exchequer's stimulus plan raises concerns about inflation, and US short-term inflation expectations rise to a seven-month high
The main headlines that the global financial media paid attention to last night and this morning include: The OPEC+ meeting originally scheduled to be held this weekend was postponed due to Saudi Arabia's dissatisfaction with the oil production levels of other member countries, which has led to difficulties in negotiations. The Organization of Petroleum Exporting Countries (OPEC) said on its website that the ministerial meeting has now been rescheduled to November 30, but did not give a reason for the postponement of the meeting. Delegates to the conference said Saudi Arabia had difficult negotiations with other member states over production levels. Delegates requested anonymity as discussions were not made public. Saudi Arabia began cutting production by an additional 1 million b/d in July. UK finance
Deutsche Bank Unit DB Direkt Employee Union to Hold Second Round of Talks on Hourly Wage Increase
Deutsche Bank (DB) subsidiary DB Direkt's employee union Verdi is scheduled to meet the bank on Wednesday in a second round of negotiations to increase workers' hourly wages. On Nov. 9, Verdi said the
Top 20 US stock turnover on November 20: Nvidia and Microsoft reach new record highs
On Monday, Tesla, the number one in US stock turnover, closed 0.55% higher, trading at 27.124 billion US dollars. Tesla will once again raise prices in the Chinese market this week. This will be the fourth consecutive price increase for the company recently, targeting all models. In addition, the Tesla Model S Plaid carbon-ceramic brake kit is on sale at a price of 109,494 yuan. According to another report, Tesla will begin delivering its electric pickup truck to customers next week. According to the media, it is currently unclear how much this car actually costs. The second-place Nvidia closed 2.28% higher, reaching a record high, with a transaction of 204.34
Boeing Stock Gets Another Upgrade. Why It Can Rise 30%.
Deutsche Bank's Scott Deuschle upgraded the shares to Buy from Hold. His price target went to $270 from $204.
Microsoft, GM, Boeing, Zoom Video, Nvidia, and More Stock Market Movers
Sam Altman, the ousted chief executive at OpenAI, will be joining Microsoft to lead a new advanced AI research team, the CEO of GM's Cruise self-driving technology and taxi business resigns, and Zoom Video reports quarterly earnings Monday.
Wells Fargo Sheds Some 50 Investment Bankers as Deal Drought Persists - Report
Overnight highlights: US stocks have had mixed ups and downs, OPEC raised global oil demand growth forecasts, Goldman Sachs is optimistic about the prospects of 10-year US bonds, and Nvidia upgrades AI processors
For more global financial information, please move on to the 7×24 hour real-time financial news market closing: US stocks rise and fall, market waits for CPI inflation data, November 13, top 20 of US stock turnover: Nvidia launched the latest high-end AI chip. Analysts expect its revenue to soar, and most popular Chinese stocks rose on Monday. Ideal Auto rose more than 6%, Xiaopeng Motor rose more than 2%, and iQiyi rose more than 1% New York gold futures closed 0.65% on Monday. Market focus on US inflation data, US WTI crude oil closed 1.9% higher on Monday, US WTI crude oil closed 1.9% higher on Monday, and major concerns about European stocks It indicates a collective closing of Germany's D
External market headlines: Survey shows US inflation expectations are getting weaker Goldman Sachs and Morgan Stanley have different views on the Fed's interest rate cut expectations Nvidia upgrades AI processors
The main headlines that the global financial media paid attention to last night and this morning include: According to the New York Federal Reserve Consumer Expectations Survey Report, inflation expectations for October have generally weakened, despite rising expectations of future gasoline price increases, while employment and personal financial prospects are basically stable. Interviewees expect inflation expectations one year from 3.7% in September to 3.6%, inflation expectations after three years will be 3%, the same as in September, and inflation expectations in five years will drop to 2.7% from 2.8% in September. According to the report, the expected increase in housing prices in October remained at a moderate 3%, while future gasoline price increases are expected to rise from 4 in September
Deutsche Bank: Turkish lira bonds will be the preferred investment in 2024
Deutsche Bank analysts said that Turkish lira bonds will change from the worst performing local bond market in developing countries this year to the best performing local bond market in 2024. A strategist led by Christian Wietoska wrote in a report: “There are still a few months until we look at the structure more.” “We think local bonds need to be re-priced by another 200-400 basis points and then provide value from a structural perspective.” Deutsche Bank joined J.P. Morgan Chase and a number of well-known investors in betting that this asset class will turn around. Deutsche Bank
Deutsche Bank Announces Public Tender Offer for Deutsche Postbank Funding Trust I & III Securities
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE