/biz/ - Business & Finance

>>53326608
>economy is perfectly fine
lmao. look at manufacturing, look at services, look at retail sales, look at delinquencies, look at defaults, look at layoffs, look at the cooked/overestimated 1 million jobs to win the midterms, look at banks putting $4 billion aside for expected credit losses, look at commodities moving higher as the dollar moves lower, look at bank earnings

>>53317011
>record earnings
yeah, it's a record all right, an 11 year record

https://www.cnbc.com/2023/01/17/goldman-sachs-fourth-quarter-results-are-coming-what-the-street-expects.html
>Goldman Sachs posts its worst earnings miss in a decade as revenue falls while expenses rise
>worst earnings miss in a decade
>worst earnings miss in a decade
>worst earnings miss in a decade
>Earnings of $3.32 per share vs. $5.48 estimate of analysts surveyed by Refinitiv
>Revenue of $10.59 billion vs. $10.83 billion estimate
>quarterly profit plunged 66% from a year earlier to $1.33 billion, or $3.32 per share, about 39% below the consensus estimate. That made for the largest EPS miss since Oct. 2011
>Widely expected to be awful, Goldman Sachs’ Q4 results were even more miserable than anticipated
>Goldman posted a $972 million provision for credit losses in the quarter, compared with $344 million a year earlier, as the bank set aside more funds for potential losses in credit card and point-of-sale loan portfolios. That is 50% more than analysts had expected for the quarter.
but don't you see - every single bank amassing hundreds and hundreds of millions for credit losses means that the economy is strong, and that there isn't any risk of defaults!! what do the banks know? nothing! they don't know the credit risk of their customers - they don't know their finances! nothing to see here!
>>53312099
>>53311962
Empire manufacturing for January -32.9 versus -11.2 last month. Estimate -9.0. This is the lowest since May 2020. Eleven percent of respondents reported that conditions had improved over the month, and forty-four percent reported that conditions had worsened
>the lowest since May 2020
>44% reported conditions had worsened
economic conditions rapidly worsening this badly is bullish! don't you see!! the economy collapsing, earnings collapsing, it's bullish!! as it means the Fed will lower interest rates by 0.25%!! the 0.25% cut in July will surely force the economy into a V shaped recovery, so I'm buying stocks, now!!
>this is your brain on greed/delusion

https://www.cnbc.com/2023/01/17/goldman-sachs-fourth-quarter-results-are-coming-what-the-street-expects.html
>Goldman Sachs posts its worst earnings miss in a decade as revenue falls while expenses rise
>worst earnings miss in a decade
>worst earnings miss in a decade
>worst earnings miss in a decade
>Earnings of $3.32 per share vs. $5.48 estimate of analysts surveyed by Refinitiv
>Revenue of $10.59 billion vs. $10.83 billion estimate
>quarterly profit plunged 66% from a year earlier to $1.33 billion, or $3.32 per share, about 39% below the consensus estimate. That made for the largest EPS miss since Oct. 2011
>Widely expected to be awful, Goldman Sachs’ Q4 results were even more miserable than anticipated
>Goldman posted a $972 million provision for credit losses in the quarter, compared with $344 million a year earlier, as the bank set aside more funds for potential losses in credit card and point-of-sale loan portfolios. That is 50% more than analysts had expected for the quarter.
but don't you see - every single bank amassing hundreds and hundreds of millions for credit losses means that the economy is strong, and that there isn't any risk of defaults!! what do the banks know? nothing! they don't know the credit risk of their customers - they don't know their finances! nothing to see here!
>>53312099
>>53311962
Empire manufacturing for January -32.9 versus -11.2 last month. Estimate -9.0. This is the lowest since May 2020. Eleven percent of respondents reported that conditions had improved over the month, and forty-four percent reported that conditions had worsened
>the lowest since May 2020
>44% reported conditions had worsened
economic conditions rapidly worsening this badly is bullish! don't you see!! the economy collapsing, earnings collapsing, it's bullish!! as it means the Fed will lower interest rates by 0.25%!! the 0.25% cut in July will surely force the economy into a V shaped recovery, so I'm buying stocks, now!!
>this is your brain on greed/delusion