Good MorningEquity markets hit a ceiling last week that may cap gains in the coming weeks. Hot CPI, PPI, and Import price data point to sustained high inflation and the possibility of accelerating inflation. This situation has sparked a reset of FOMC expectations, which includes pushing back the timeline for interest rate cuts. Now, the market expects a single cut by early summer and the possibility of two by summer's end. If the data doesn't improve, the timeline will be pushed back again.
The takeaway for investors is that the outlook for S&P 500 earnings growth in 2024 is no good. The market expects a significant earnings acceleration in the back half, primarily in Q4, which may not come if the FOMC doesn't cut rates. In this scenario, a rapidly deteriorating outlook for earnings growth could sap investor appetite, and there are other risks. The weaker-than-expected retail sales figure suggests a poor showing from the retail sector and another headwind for equities.
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Not all stocks are created equal, and this year energy stocks could quickly become the market's favorite. A once-in-a-cycle opportunity to line up your portfolio with all the macro forces at play could be right around the corner. Some analysts, who are expecting a new rally, have already begun to ... Read the Full Story |
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Super Bowl 58 was the most watched Super Bowl and telecast in history. It had an average of 123.4 million viewers across all platforms, which included Paramount Global (NASDAQ: PARA) owned CBS Television Network, CBS Sports, Paramount+, Nickelodeon, Univision, and NFL+. CBS was the big winner, wit... Read the Full Story |
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Robinhood Markets Inc. (NASDAQ: HOOD) is an online brokerage and financial services company that offers commission-free stock, exchange-traded funds (ETFs), and options trades with access to cryptocurrencies through its mobile app platform. The simplified interface caters to new and small investor... Read the Full Story |
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Stocks | | | Stocks slipped Friday to send Wall Street to a rare losing week, just its second in the last 16.The S&P 500 fell 0.5% from its all-time high set a day earlier. The Dow Jones Industrial Average dropped 145 points, or 0.4%, and the Nasdaq composite sank 0.8%.A report in the morning on inflation at... Read the Full Story |
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Markets | | | As some of the world’s biggest economies stumble into recession, the United States keeps chugging along. Both Japan and the United Kingdom said Thursday their economies likely weakened during the final three months of 2023. For each, it would be the second straight quarter that’s happened, which fit... Read the Full Story |
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Medicare Advantage plans have been making headlines in 2024, but not in a positive light, at least for health insurance companies. Medicare is a government-sponsored health insurance benefit; generally for retired people aged 65 and older. For most, the money for Medicare Part B medical insurance ... Read the Full Story |
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The cryptocurrency industry is having a moment. Crypto trading platform Coinbase Global Inc. (NASDAQ: COIN) is up 29% in February, following a profitable quarter that beat estimates by a wide margin.
You can see those results on MarketBeat’s Coinbase Global earnings page.
Other crypt... Read the Full Story |
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Markets | | | Nigerians are facing one of the West African nation’s worst economic crises in years triggered by surging inflation, the result of monetary policies that have pushed the currency to an all-time low against the dollar. The situation has provoked anger and protests across the country.The latest govern... Read the Full Story |
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Markets | | | A measure of consumer sentiment ticked higher this month, after soaring in December and January, underscoring that Americans are starting to feel better about the economy after several years of gloom. The University of Michigan's consumer sentiment index, released Friday, ticked up to 79.6 in Februa... Read the Full Story |
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Markets | | | DoorDash's revenues and orders exceeded expectations for the fourth quarter, although its net losses failed to shrink as quickly as Wall Street had hoped.The San Francisco delivery company said Thursday that its revenues rose 27% to $2.3 billion in the October-December period, slightly exceeding the... Read the Full Story |
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Monday's Early Bird Stock Of The Day Magna International Inc. designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles. The Body Exteriors & Structures segment provides body and chassis system, battery enclosures, and engineering and testing; and exteriors, including fascia and trims, front end modules, integration panels, liftgate modules, active aerodynamics, engineered glass, running boards, truck bed access products, breakthrough lightings, side doors, and greenhouse products. The Power & Vision segment offers electric drive systems and components, such as emotors, inverters, onboard chargers, gearboxes, and e-clutch; dedicated hybrid drives, dual and hybrid dual clutch, and manual transmissions; AWD/4WD products and rear drive modules; transmission, driveline components, and ICE; far camera module, remote camera heads, interior sensing camera, radars, thermal sensing, and domain controllers; interior and exterior mirrors, camera monitoring system driver/occupant monitoring systems, and smart actuators; forward and rear lighting, and lit grilles/panels/displays; latching system, door modules, charge port doors, power system, hinges, and door handles; and modular and textile folding roofs, and hard and soft tops. The Seating Systems segment provides seat structures, mechanism and hardware solutions, and foam and trim products. The Complete Vehicles segment offers vehicle engineering and manufacturing services. Magna International Inc. was founded in 1957 and is headquartered in Aurora, Canada. | | View Today's Stock Pick |
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