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The BofA report found that payroll payments rose 1.7 percent in December at small businesses. That's consistent with the general trend last year, with payroll payments rising most months....
Investing.com - Analysts from Bank of America noted a significant inflow of gold ETFs in May, reversing the outflow trend that had been ongoing for the previous 11 months. However, with the gold price falling sharply after the US May Jobs report, it remains to be seen if ETF inflows will continue. According to data from the World Gold Council, gold ETF holdings saw their first monthly inflow in 12 months in May, amounting to $529 million or 8.2 tonnes. This inflow was primarily driven by European and Asian funds, with European inflows thought t ...
The rally in the biggest US technology stocks is at risk of fading further if the US economy continues to cool, according to Bank of America Corp.’s Michael Hartnett. The strategist — who is bullish on bonds for the second half of 2024 — has said signs of an economic slowdown would fuel a rotation into stocks that have lagged behind the pricey tech mega-caps this year. In a note on Friday, Hartnett said recent data suggested the global economy was “ill,” and that “we are one bad payroll away” from big tech stocks losing their domi ...
Other market strategists, including at BofA, have downplayed those concerns. The bank’s head of US equity and quantitative strategy, Savita Subramanian, said on Thursday that a sturdy...
For BofA’s Hartnett, the only factor that could “melt this determination” in markets is a drop in US payrolls. Latest data, due Friday, are expected to show the US economy added 200...
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In December 2022, total nonfarm payroll employment rose by 223,000, beating economists’... Bank of America, however, expects nonfarm payroll gains to turn negative this year. During the...
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That’s in stark contrast, however, to BofA strategist Michael Hartnett’s view: “Nothing... “We think markets may rally into the first negative payroll print but this will likely be...