Daily Archive: September 14, 2020

Why Goldman Sachs and Deutsche Bank think the September stocks sell-off has run its course

The recent pullback in U.S. stocks could be close to an end if history is a guide, according to strategists at Goldman Sachs Group Inc. and Deutsche Bank AG.

Its magnitude has matched a “typical” selloff in the S&P 500 since the financial crisis, albeit at a faster pace, wrote a team led by Goldman’s David Kostin in a note Friday. And options positioning—at the core of the weakness—has normalized, noted their counterparts at Deutsche including Srineel Jalagani the same day.

“Despite the sharp sell-off in the past week, we remain optimistic about the path of the U.S. equity market in coming months,” wrote the Goldman strategists. “Since the financial crisis, the typical S&P 500 pullback of 5% or more has lasted for 20 trading days and extended by 7% from peak to trough, matching the magnitude of the most recent pullback if not the speed.”

A reassessment of historically … Read More

Verizon to buy wireless services provider Tracfone in $6.25 billion deal By Reuters

© Reuters. A man stands next to the logo of Verizon at the Mobile World Congress in Barcelona

(Reuters) – Verizon Communications Inc (N:) said on Monday it would buy wireless services provider Tracfone, a unit of Mexican telecom America Movil (NYSE:), in a $6.25 billion cash and stock deal.

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