U.S. stock futures fell Thursday morning as the S&P 500 is set to clock its worst first half in more than 50 years. Fed Chairman Jerome Powell now says it’s unclear if our economy will ever return to its pre-pandemic status. “The economy is being driven by very different forces,” he said. “What we don’t know is whether we’ll be going back to something that looks like, or a little bit like, what we had before.” European Central Bank President Christine Lagarde agreed, saying that Russia’s invasion of Ukraine will change how we operate. “I don’t think we’re going back to that [pre-Covid] period of low inflation,” Lagarde said.

 

CNBC/Tanaya Macheel and Pippa Stevens
S&P 500 futures fall 1% as index gets set to close out worst first half since 1970

U.S. stock index futures declined early on Thursday morning, as the S&P 500 prepares to wrap its worst first half in decades.

Futures contracts tied to the Dow Jones Industrial Average shed 295 points, or 1.2%. S&P 500 futures slipped 1.3%, and Nasdaq 100 futures pulled back by 1.5%.

Healthcare stocks pulled the market lower Thursday after Universal Health Services issued second quarter earnings and revenue guidance below expectations, citing lower patient volumes. Shares fell 6% in the premarket. Centene, Abiomed and PerkinElmer also lost about 5% each.

Continue reading, here.

 

CNN Business/Lucy Bayly
The pandemic may have forever altered the economy, Fed Chair Powell says

It’s not yet clear if the US economy will ever return to its pre-pandemic status, Federal Reserve Chairman Jerome Powell said Wednesday at a central banker forum in Portugal.

“The economy is being driven by very different forces. What we don’t know is whether we’ll be going back to something that looks like, or a little bit like, what we had before,” Powell told a panel that included European Central Bank President Christine Lagarde and Bank of England Governor Andrew Bailey.

The central bank heads, who collectively hold around $20 trillion on their balance sheets, discussed how “new forces” have changed inflationary dynamics and the global economic landscape — perhaps forever.

You can read the full article, here.

 

Seeking Alpha
Goldman Sachs Raises Gold Target Yet Again To $2500/Oz By Year-End Signaling Boost To Gold Industry

Goldman Sachs has recently raised its year-end 2022, gold price target to $2500/oz, signaling a strong 2022 after gold prices ended 2021 down approximately 4%.

Last year’s strong economic recovery and growth created conditions for the decline in gold, as investors moved to riskier assets. However, the coming year could bring increased concerns of a US recession, which would lead to higher gold prices.

While some investors are concerned about the potential for inflationary pressures in the wake of unprecedented levels of government stimulus spending, Goldman argues that these fears are overblown, and that inflation will remain contained.

Keep reading, here.

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