Stock Markets

US stock market today ends the year down 20%

Published

1 year ago

December 20, 2022

The U.S. stock market today ends the outgoing year with a drop of about 20% , and the index of high-tech companies Nasdaq lost even more, almost 30%), and among analysts of Wall Street prevails a pessimistic view of the next six months, writes Bloomberg.

Senior strategist of Pictet Asset Management Luca Paolini adheres to the negative forecast for the US stock market futures for the next three to six months. In his opinion, the following three factors may lead to the end of the bear market: the restoration of corporate earnings forecasts, an increase in the spread between short-term and long-term bond yields, and a decrease in the ratio of capitalization of companies most sensitive to economic cycles to their expected profits.

CFRA senior investment strategist Sam Stovall also expects a weak start to next year and hopes for a rebound in the second half of the year.

Bloomberg Intelligence (BI) analysts note that when the Fed stops its rate hike cycle, it often causes double-digit gains in stocks. However, the effect could be blurred next year because of high uncertainty and expectations of falling profits for companies in the S&P 500 Index, they believe. The BI model calls for an average 2% decline in earnings per share in 2023.

The U.S. market will still begin to recover at some point next year, most experts believe. But how quickly it will return to the historic highs reached in January of this year remains questionable. BI analysts estimate it won’t happen sooner than two years from now.

The fact that the Fed intends to keep rates high for at least the whole of 2023 could result in an average annual growth rate of 5.7% over the next three years for the S&P 500 index, versus 12.7% from 2010 to 2019, said BI Senior Equity Analyst Gina Martin Adams.

Earlier we reported that Europe’s largest stock indices, except for Spain, declined.

Stock Markets

US Labor Department corrects productivity data

Published

2 hours ago

April 27, 2024

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Stock Markets

Insights from Token2049: How crypto wealth is made

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2 hours ago

April 27, 2024

Stock Markets

Oak Valley Community Bank Named One of Central Valley’s Best Places to Work

Published

2 hours ago

April 27, 2024

OAKDALE, Calif., April 26, 2024 (GLOBE NEWSWIRE) — Oak Valley Community Bank, a wholly-owned subsidiary of Oak Valley Bancorp (NASDAQ: OVLY) is pleased to announce that it was named by Best Companies Group as one of 2024 Best Places to Work: Central Valley. At the same time, OVCB was recognized by Opportunity Stanislaus for Growing the Economy by increasing their workforce by 10% or more throughout 2023.

We are honored to be acknowledged for our growth and named one of the Best Places to Work in the Central Valley. This recognition is a testament to our commitment to fostering a positive and supportive workplace environment and excellence in all that we do. Our success is built on our service culture, which is embraced by all members of our team. Our exceptional service is what distinguishes us. It’s not just about meeting expectations; it’s about exceeding them in ways that build lasting trust and loyalty. By delivering on this promise consistently, we create our own brand ambassadors “ who speak highly of the bank and refer colleagues and friends. We would like to take this opportunity to recognize our team. We are grateful for their loyalty and commitment to our customers, our communities, and each other, stated Chris Courtney, CEO.

Best Places to Work: Central Valley is a survey and recognition program dedicated to celebrating those employers locally who excel at creating quality jobs and environments where employees are happy to work. As a research-driven program from Best Companies Group, Best Places to Work examines a company’s practices, programs, and benefits and surveys employees for their perspective. All companies that participated in the 2024 Best Places to Work: Central Valley program receive an in-depth evaluation identifying strengths and weaknesses according to their employees. In turn, this report can be used in developing or enhancing employee retention and recruitment programs.

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We are honored to be recognized with this year’s Best Places to Work recipients; Automation Group; O’Dell (NYSE:) Engineering, Inc., Grimbleby Coleman Advisors & Accountants, Haggerty Construction, Inc., ITSolutions-Currie, One Digital, The Wonderful Company, and Community Hospice & Health Services.

Best Places to Work: Central Valley is brought to you by Opportunity Stanislaus. For more information on Best Places to Work: Central Valley visit www.bestplacestoworkcentralvalley.com.

About Opportunity Stanislaus Opportunity Stanislaus is a local economic development organization focused on improving the economic vitality of Stanislaus County. To do so, they help local entrepreneurs start and grow businesses and work to attract innovative companies to the county. For more information visit www.opportunitystanislaus.com.

About Oak Valley Community Bank OVCB offers a variety of loan and deposit products to individuals and small businesses. They currently operate through 18 conveniently located branches: Oakdale, Turlock, Stockton, Patterson, Ripon, Escalon, Manteca, Tracy, Sacramento, Roseville, two branches in Sonora, three branches in Modesto, and three branches in their Eastern Sierra Division, which includes Bridgeport, Mammoth Lakes, and Bishop. For more information visit www.ovcb.com.