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Berkshire cleared its stock in the second quarter and Bo Jian reduced his stake in General Motors Co and Apple Inc is still the number one heavy stock.
According to Buffett's Berkshire Hathaway's 13F position report filed with the Securities and Exchange Commission (SEC) on Monday, the company cleared three stocks of pharmaceutical companies Biogen, Axalta Coating Systems and telecom company Liberty Global An in the second quarter, reducing their holdings of General Motors Co and Chevron Corp, increasing their holdings of supermarket chain Kroger, and maintaining Apple Inc's position as the number one heavy stock. According to the 13F report, Berkshire's total market value of its position in the second quarter was about 29%.
Goldman Sachs raised its target for the S & P 500 by the end of the year to 4700 from 4300.
Goldman Sachs strategists raised their S & P 500 point forecasts under the dual influence of better-than-expected earnings and lower-than-expected interest rates. Strategists, including David J. Kostin and Ben Snider, raised the S & P target by 9 per cent to 4700 from 4300 by the end of 2021, meaning the index still has 7 per cent room to rise from its current level. The target will be raised from 4600 to 4900 by the end of 2022. The S & P closed Wednesday at 4402.66. "We expect earnings growth to be the second half of this year.
ECB Executive member: inflation needs to be temporarily above target
Isabel Schnabel, a member of the ECB's executive committee, said in a speech on Saturday that there was "growing evidence" that inflation expectations were gradually re-aligning the ECB's definition of price stability. If monetary policy is to be sustainable, it needs to remain expansionary so as not to hinder the initial recovery. Patience may cause inflation to end up slightly higher than our target for some time. This is a necessary and proportionate requirement to avoid low inflation. Many of the factors contributing to the rise in inflation this year are likely to subside in 2022.
Tyson recalls 8.5 million pounds of ready-to-eat chicken products suspected to be infected with Listeria monocytogenes
On July 4, Tyson Foods said it would recall nearly 8.5 million pounds (3.85 million kilograms) of ready-to-eat chicken products that may have been infected with Listeria monocytogenes. Tyson said in a statement that because chicken food may have been exposed to a harmful bacterium, Listeria monocytogenes, although there is no conclusive evidence that the product was contaminated at the time of shipment, it voluntarily launched the recall process out of caution. Listeriosis is an infection caused by the spread of listeria from the intestines to other parts of the body. According to the Centers for Disease Control and Prevention, serious disease symptoms caused by Listeria monocytogenes are being eaten.
United Nations: tourism recession caused by the epidemic will cost the global economy more than $4 trillion
The tourism recession caused by the epidemic will cost the global economy more than $4 trillion in 2020 and 2021, due to uneven vaccine promotion, according to a study released by the United Nations Conference on Trade and Development on Wednesday. Developing countries that rely heavily on international tourists will be hit. Even if the international tourism industry in countries with high vaccination rates, such as the United States, the United Kingdom and France, rebounds in the second half of the year, losses this year could still reach $1.7 trillion to $2.4 trillion, the report said. The study highlights the costly impact of inequalities in access to vaccines around the world. According to the United Nations Conference on Trade and Development
Market institutions: undervalued high-quality companies are being "super sale" and there are buying opportunities.
Rafael Resendes, one of the founders of Applied Financial Capital Management, says the company has found attractive buying opportunities in the stock market, including some large technology companies. The foundation of applying financial capital management company is the study of company valuation. Undervalued high-quality companies are now on sale. " His stock picks include technology giants Apple, Microsoft and Facebook, as well as Wal-Mart and McDonald's. When looking for "intrinsic value", Resendes says he is not looking for companies that seem cheap in terms of price-to-book ratios. On the contrary
Institute of International Finance: global debt levels have fallen for the first time in two and a half years. Emerging market pressure continues unabated.
Global debt levels fell for the first time in two-and-a-half years in the first quarter, but developing economies hit a new record as a result of a decline in developed markets, the (IIF) said on Thursday. Total global debt fell by $1.7 trillion to $289 trillion, with financial debt accounting for nearly half, while government debt continued to grow. By contrast, debt levels in emerging markets rose by $600 billion to an all-time high of more than $86 trillion, despite a marked slowdown in the first three quarters. This is due to the increase in government debt in emerging countries, mainly due to fiscal constraints.