US data and earnings will be in focus this week after big tech earnings spurred large market swings last week. If US economic data triggers an additional repricing of hawkish Fed bets, that risks further downside, particularly for growth and tech shares.US equity markets were able to erase pre-market losses …
Read More »Amazon Announces a 9% Increase in Revenue in Q4 in The Fourth Quarter
Amazon shares fell more than 4% in extended trading on Thursday after the company reported weaker-than-expected Amazon posted a significant profit outperformance for the fourth quarter, buoyed by gains from its investment in electric vehicle company Rivian. The company also revealed revenues from its fast-growing advertising business for the first …
Read More »S&P 500 Drops Back As Meta’s Earnings Hammer Equity Sentiment
The S&P 500 slumped back below the 4500 level on Thursday, dropping over 2.0% on the day. Equity market sentiment took a battering after dour earnings guidance from tech giant Meta Platforms (Facebook). Focus has shifted to Amazon earnings after the closing bell and Friday’s US jobs report. Major US …
Read More »Chicago PMI Surges in January
Activity at factories in the U.S. Midwestern region defied expectations by gaining momentum in January. The Chicago purchasing managers’ index (PMI) delivered a fresh reading of 65.2, indicating manufacturing expansion accelerated in the first month of 2022, rising from December’s upwardly revised 64.3 and coming in well above the 61.7 …
Read More »Semiconductors: Shortages, Earnings Tell The Whole Story
Taiwan Semiconductor shares surged on Thursday, as the semiconductor manufacturer said fourth-quarter earnings topped Wall Street estimates and it would boost spending for 2022 well above last year’s levels.Taiwan Semiconductor shares closed at $139.19, gaining more than 5% and just off their 52-week high of $145. More than 51 million …
Read More »Visa Inc. Drags Card Industry Shares Lower
About $25 billion in value erased from Visa’s market cap. Other cards stocks including Mastercard and Amex have declined. Not only did Visa Inc. severely drop on Wednesday, but also dragged down industry peers such as Mastercard Inc., after Amazon had announced it will stop accepting purchases made with the …
Read More »Strong support at 93.50 pushes USD’s demand
The U. S. Dollar Index rallies 0.86% during the New York session, is at 94.10, short of the 94.30 fresh weekly high. U. S. T-bond yields are falling, with the 10-year benchmark note down two basis points, at 1.545%.The market sentiment is mixed, depicted by European stock indices, splitting between …
Read More »Amazon shares retreat, badly misses revenues
Amazon shares fell more than 4% in extended trading on Thursday after the company reported weaker-than-expected results for Q3 and delivered disappointing guidance for the critical holiday period.Earnings amount to $6.12 versus $8.92 per share estimates. Revenue is $110.81 billion vs $111.6 billion estimates.Amazon is facing decelerating sales growth as …
Read More »S&P 500 hits record high on tech strength, earnings optimism
The S&P 500 Index hit a record high on Tuesday over the positive earnings of Tesla, Nvidia and other Tech companies, while upbeat results from UPS and GE raised optimism around the earnings’ season.Tesla rose 5.4%, extending a record round that helped the electric carmaker surpass $1 trillion in market …
Read More »Amazon to Employ 55K More People Around the Globe
Amazon will offer 55,000 jobs around the world, in corporate and technology, over the coming months, CEO Andy Jassy reportedly told Reuters. Speaking to the press for the first time since he assumed the position in July, following the resignation of former CEO and Founder Jeff Bezos, Jassy said that …
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