Oct 15, 2017

Goldman warns stocks likely to head lower

Goldman Sachs warns stocks could head lower. Photo: Richard Drew / AP

The chief stock strategist for Goldman Sachs warned clients in a note that there is an 88% chance stocks enter a bear market in the next 2 years, according to Business Insider. Goldman says that stocks are expensive when measured against earnings and included data on unemployment, manufacturing and the bond yield curve to figure the likelihood stocks will go lower.

Why it matters: The S&P 500 is on it's second longest and largest bull run in history, BI notes (only the 10-year run leading into the dot-com bubble was longer.) President Trump regularly touts stocks at record highs.

Go deeper: Click here for more details and charts from the Goldman report.

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Axios

World coronavirus updates: U.K. PM "stable, improving" in intensive care

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

British Prime Minister Boris Johnson is "stable, improving, sat up and engaged with medical staff" in the intensive care unit of London's St. Thomas' Hospital, where he is being treated for the coronavirus, Culture Minister Oliver Dowden told the BBC Thursday.

Zoom in: The update comes as ministers meet to discuss whether to extend the United Kingdom's lockdown and after the country's health officials reported Wednesday the highest daily rise in COVID-19 deaths — 938, taking the total to over 7,300. London Mayor said Wednesday the U.K. is "nowhere near lifting the lockdown," with the virus not expected to peak there until next week.

Go deeperUpdated 8 mins ago - Health

Axios

Coronavirus dashboard

Illustration: Aïda Amer/Axios

Global: Total confirmed cases as of 3 a.m. ET: 1,484,811 — Total deaths: 88,538 — Total recoveries: 329,876 — Map.
U.S.: Total confirmed cases as of 3 a.m. ET: 432,132 — Total deaths: 14,817 — Total recoveries: 23,906 — Map.
Federal government latest: Top Trump administration officials had been developing a plan to give cloth masks to huge numbers of Americans, but the idea lost traction amid heavy internal skepticism.
States latest: New York has reported more cases than the most-affected countries in Europe. Chicago's Cook County jail is largest-known source of coronavirus in U.S.
Business: One-third of U.S. jobs are at risk of disappearing, mostly affecting low-income workers.
World: WHO Director-General Tedros Adhanom Ghebreyesus urged countries to put politics aside "if you don’t want to have many more body bags.”
Environment: COVID-19 is underscoring the connection between air pollution and dire outcomes from respiratory diseases.
Tech: A new report recommends stimulus spending to help close the digital divide revealed by social distancing.
What should I do? Pets, moving and personal health — Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Keep ReadingUpdated 34 mins ago - Politics & Policy

Rebecca Falconer

New Zealand sets sights on coronavirus elimination after 2 weeks of lockdown

Prime Minister Jacinda Ardern gives a coronavirus media update at the New Zealand Parliament. Photo: Mark Mitchell - Pool/Getty Images

New Zealand has flattened the curve of novel coronavirus cases after two weeks of lockdown and the next phase is to "squash it," professor Shaun Hendy, who heads a scientific body advising the government on COVID-19, told Axios.

Why it matters: Te Pūnaha Matatini, the Center of Research Excellence hosted by the University of Auckland of which Hendy is director, released research Thursday showing there could've been hundreds more Covid-19 cases were it not for the lockdown — and there's a good chance the strict measures will help stamp out the virus.

Go deeperUpdated 2 hours ago - Health