Wall Street rally set to stall as Cisco, Walmart weigh. US stocks are expected to open lower on Thursday as investors weighed comments from Federal Reserve officials and a mixed bag of corporate earnings. Cisco Systems and Walmart are expected to weigh on the market after their earnings reports.

*Exclusive: Carlyle cuts Asia fundraising target to $6 billion in challenging market. Carlyle Group has cut its fundraising target for its latest Asia-focused private equity fund to $6 billion from an initial target of $7.5 billion, sources told Reuters, as investors remain cautious amid a global economic slowdown.

Goldman Sachs thinks only an unforeseen shock is likely to cause a recession in 2024.** Goldman Sachs economists say that only an “unforeseen shock” is likely to cause a recession in the US in 2024. The bank now expects the unemployment rate to rise to 4.1% next year, from a current level of 3.7%.

Cathie Wood says the Grayscale Bitcoin Trust will lose this edge when a bitcoin ETF is approved. Cathie Wood, the founder and CEO of Ark Invest, says that the Grayscale Bitcoin Trust (GBTC) will lose its edge over other bitcoin investment vehicles once a bitcoin ETF is approved by the US Securities and Exchange Commission (SEC).

Argentina restarts ‘crawling peg’ to let currency weaken for first time since August. Argentina has restarted its “crawling peg” exchange rate policy, allowing the peso to weaken against the dollar for the first time since August. The move is seen as an attempt to boost exports and make Argentina’s goods more competitive in international markets.

Brazil’s Azul lowers 2023 earnings forecast but sees better 2024. Brazilian airline Azul has lowered its earnings forecast for 2023 but says it sees better results in 2024. The company now expects to earn $1.6 billion in adjusted EBITDA this year, down from $1.7 billion previously.

*JBS facing headwinds in the U.S., NY listing plans pushed back. Brazilian meatpacker JBS is facing headwinds in the US, where it is being investigated by the Justice Department and the Securities and Exchange Commission (SEC). The company has also been hit by rising costs and falling prices. As a result, JBS has pushed back its plans to list its shares on the New York Stock Exchange.

PIMCO bullish on bonds next year as inflation slows down. PIMCO, one of the world’s largest investment firms, is bullish on bonds next year as inflation is expected to slow down. The company says that bonds are now more attractive than stocks due to their lower valuations and higher yields.

Holiday toy sales expected to slow amid economic struggles. Holiday toy sales are expected to slow this year as families struggle with higher prices and economic uncertainty. The National Retail Federation expects toy sales to grow by just 2.5% this year, down from 5% last year.

Mexico lawmakers OK stock market reform bill. Mexican lawmakers have approved a bill that would reform the country’s stock market. The bill is aimed at making the market more transparent and competitive.

U.S. renewable, grid battery projects battle transformer shortage. Projects to build renewable energy and battery storage in the US are facing a shortage of transformers, which are critical components of the grid. The shortage is expected to slow down the deployment of renewable energy and battery storage projects.

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