Goldman Sachs slashes US economic growth forecast over weaker spending on services

Goldman Sachs slashed its forecast for US economic activity in the second half of the year, pointing to sluggish consumer spending on services as well as the threats posed by the Covid-19 Delta variant.

News: What you need to know about the markets     Goldman Sachs slashes US economic growth forecast over weaker spending on services Goldman Sachs slashed its forecast for US economic activity in the second half of the year, pointing to sluggish consumer spending on services as well as the threats posed by the Covid-19 Delta variant. Read more »   Tesla reports record quarterly earnings, blowing past Wall Street's expectations Tesla reported stronger-than-expected second quarter, with a record net income of $1.1 billion. Read more »   Amazon posted a crypto job. Bitcoin surged 14% Amazon listed a job opening for a digital currency and blockchain product lead, sending cryptocurrencies soaring Monday. Read more »   A surprising tech company be next to join the Dow Chip giant Nvidia is the ninth-most valuable company in the S&P 500. With a market capitalization of almost $500 billion, the company is now worth nearly as much as semiconductor rivals Intel, Advanced Micro Devices and Qualcomm — combined. Could Nvidia soon wind up listed on the venerable Dow, too? Read more »   Justice Department opposition kills major insurance merger A proposed $30 billion insurance industry merger is off, one month after the Justice Department's antitrust regulators sued to block it. It's another sign of the tough stance the Biden administration is taking against corporate deal-making. Read more »   Bitcoin, dogecoin and ethereum are suddenly having another great week Cryptocurrencies rallied Monday, just a week after they were hit by a major sell-off. Read more »

Dow Nasdaq S&P +82.76   +3.72   +10.51 35,144.31   14,840.71   4,422.30 +0.24%   +0.03%   +0.24% YTD +14.83%   YTD +15.15%   YTD +17.74%

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