After regaining strength last week, China’s Shanghai Composite Index pulled back on Monday and started the week on a weaker note.
On Friday, Kohl’s rose 7.2%. The retail sector regained strength amid reports that Congress moved ahead with tax reforms without adding the border tax.
After consolidating for two trading days, the S&P 500 regained momentum on Friday. Seven out of 11 of the S&P 500’s major sectors closed on positive notes.
European markets opened lower amid the tech sell-off. The decline in major technology stocks on Wall Street on Friday triggered a global sell-off.
China’s Shanghai Composite Index regained strength and rose 1.7% last week. It started this week with decreased momentum by opening lower on June 12.
The financial sector boosted US stocks last week even as the market continued to trade sideways in the absence of major new economic data.
Goldman Sachs strategist David Kostin said that it’s hard to predict whether the low market volatility today is indicating higher risk or more stabilization.
Goldman Sachs’s David Kostin believes that a structural shift in demand appears to be a major driver for technology stocks.
Goldman Sachs’s David Kostin said in his latest CNBC interview that the US economy is growing at a moderate pace—not too fast, and not too slow.
In June 2017, 13 of the 19 analysts covering AIG rated AIG as a “buy” or a “strong buy.” Five analysts rated it as a “hold,” and one analyst gave it an “underperform” rating.
AIG’s total operating expenses in 1Q17 fell 18.6% to $2.4 billion, or 10% on a constant dollar basis. This decrease was mostly due to lower acquisition costs, benefit expenses, and other general expenses.
AIG posted a net profit of ~$1.2 billion, or $1.21 per share, compared to a loss of $183 million, or $0.16 per share, in 1Q16.
AIG’s total outstanding debt at the end of 1Q17 was $30.7 billion compared with $32.0 billion in 1Q16 and $30.9 billion in 4Q16.
In 1Q17, AIG repurchased ~56.0 million shares, or 5.5% of its total outstanding shares, for a purchase price of ~$3.6 billion. The company made additional repurchases of ~$1.1 billion through May 3, 2017.
In 1Q17, the Consumer Insurance division’s pretax operating income rose to ~$849 million compared to ~$662 million in 1Q16.
AIG’s Commercial division saw a loss ratio of 71.9 in 1Q17. AIG saw its book value expand ~2.5% in 1Q17 on a year-over-year basis.
American International Group (AIG) is expected to post EPS of $1.20 in 2Q17. This estimate is up 20% year-over-year, backed by higher underwriting income and lower expected claims.
MasterCard (MA) has a positive outlook on its recent acquisitions of VocaLink and NuData.
Though MasterCard (MA) is seeing rising valuations, most analysts that cover the stock give it a “buy” rating on the back of expected long-term growth.
In order to drive growth, MasterCard (MA) depends on global economic activity.