INDIANAPOLIS (WISH) — A major bank succumbs to the gloomy mood on Wall Street.
Goldman Sachs has changed its stock market forecastwho now says there are problems ahead for equities in a possible recession.
Bank executives seem unsure of what will happen in the coming months, contributing to a big sell-off on Wall Street on Friday.
The Dow closed 483 points or 1.6% lower in Friday trading, marking its lowest level since November 2020. The S&P 500 and Nasdaq Composite fell 1.7% and 1.8%, respectively.
At one point, the Dow fell more than 800 points, more than 20% from its record of 36,799.65 on Jan. 4, entering bear territory.
The S&P 500 remains in bear territory.
as the Federal Reserve continues to raise interest ratesInvestors keep talking about recession.
Good news for prices at gas pumps
Speaking of recession, here’s another important point to watch out for: oil prices. They fell nearly 6% on Friday to an eight-month low and are now below $80 a barrel. That’s good news for the decline in gas prices in this country, but it could be another indication of where the economy is headed.Read:The markets are in meltdown – but at least Kwasi Kwarteng’s doomsday cult isn’t to blame | Marina Hyde
Will Costco increase the fee?
Membership fees at big-box retailer Costco Wholesale Corp. stay, at least for now.
The company has reported profit that exceed expectations and will keep the membership fees where they are.
Costco typically increases membership fees every five years and 44% of Costco customers pay the executive membership fee of $120 per year.
‘Stranger Things’ house
The house from the Netflix series “Stranger Things” is for sale.Read:Mark Cuban says many of his ‘Shark Tank’ investment deals are flops
The house featured in the show has a list price of $300,000. It sits on 6 acres in Fayetteville, Georgia, not Indiana as depicted in the show.
The home’s three bedrooms and two bathrooms, the real estate agent says, are in need of some TLC or tender loving care.