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By Staff Reporters
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| Most CFOs think we’ll avoid a recession this year—and that confidence is shared by other members of the C-suite. That’s according to PwC’s August Pulse Survey, which found that only 8% of CFOs predict a recession within the next six months. The survey polled more than 600 C-suite executives from a variety of public and private companies. Among all respondents just 17% strongly agreed there’d be a recession in the next 6 months—a sharp decline from October 2022, when 35% did. Economists, policymakers, and executives “see…the possibility of a soft landing,” Wes Bricker, PwC US vice chair and trust co-leader, said during a media call. “It’s encouraging to see optimism from so many business leaders who participated in our survey.” CITE: https://www.r2library.com/Resource |
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Here is where the major benchmarks ended:
- The S&P 500® Index (SPX) rose 29 points (0.67%) to 4,405.71; the Dow Jones Industrial Average (DJIA) rose 248 points (0.73%) to 34,346.90; the NASDAQ Composite (COMP) rose 127 points (0.94%) to 13,590.65.
- The 10-year Treasury note yield (TNX) was about 2 basis points lower at 4.226%.
- CBOE’s Volatility Index (VIX) fell 1.5 points to 15.68.
Friday’s gains left the S&P 500 Index up less than 1% for the week, while the NASDAQ was 2.2% higher, thanks in part to a solid week for tech as investors positioned for the quarterly earnings report from Nvidia (NVDA), widely seen as a bellwether of the artificial intelligence industry. The Dow Jones Industrial Average was still about 0.44% lower, hurt in part by a stumble by Boeing (BA) Thursday.
Energy was the best-performing sector Friday, as crude oil futures rose about 1.2% after a week in the doldrums.
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Filed under: iMBA, Inc. | Tagged: BA, CBOE, DJIA, DOW, economists, markets, NASDAQ, NVDA, PwC, recession predictions, S&P 500, stock markets, Visionary CFOs, VIX, Wes Bricker | Leave a comment »
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