Tesla delivered 405,278 vehicles in the fourth quarter of 2022. It is a record result for a quarter, but Wall Street was looking for closer to 420,000 electric vehicles.Fourth quarter deliveries have been disappointing, and Tesla’s shares are dropping while Wall Street analysts are closely watching price targets. Wall Street …
Read More »Atlanta Fed GDPNow for Q4 declines to 2.7%
According to the Federal Reserve Bank of Atlanta’s GDPNow model, the growth of the US economy is expected to record an annualized rate of 2.7% in 2022’s fourth quarter, slightly down from 2.8% in previous estimates.“After this morning’s housing starts report from the US Census Bureau, the nowcast of fourth-quarter …
Read More »Data-wise Canada’s consumer spending still robust
Tuesday’s data showed the declining retail sales in Canada in September by 0.5%. The biggest decline comes from gasoline and is linked to lower prices during the month in question , making sales a little better in volume terms with a 0.1% decline.The advance estimate for October shows a healthy …
Read More »Wells Fargo: USD could peak in Q4
Analysts believe the US Dollar strength through the end of 2022 as a result of the hawkish Fed. They point out the dollar could peak during the fourth quarter of 2022, starting a period of cyclical weakness against most currencies in 2023 as the US economy enters recession and the …
Read More »New Zealand’s Economy Bounced Less Than Expected in Q4
New Zealand’s economy grew less than economists expected in the final three months of 2021 as it bounced back from a contraction caused by a lockdown in largest city Auckland. Gross domestic product rose 3% from the third quarter, when it fell a revised 3.6%, Statistics New Zealand said Thursday …
Read More »Q4 Faster GDP Growth Ensures BoC’s Interest Rate Hike
Canadians took advantage of elevated savings and low interest rates to buy houses in 2021. The Canadian economy grew at an annual rate of 6.7 per cent in the fourth quarter, much faster than the Bank of Canada was expecting, guaranteeing an interest-rate increase when policymakers announce the results of …
Read More »Wall Street Digest Earnings, Major Economic Data This Week
The latest trend in day-to-day stock market index trading looks to be the Nasdaq filling deep holes dug in the previous month while the Dow and S&P 500 basically tread water. Certainly, this is what’s happening this morning: The Dow is -3 points and the S&P 500 -2, while the …
Read More »Electric Car Maker Tesla Shares Up 10%
Shares in electric car maker Tesla rose nearly 10% Monday, on the overall market recovery. CNBC reported that Tesla’s stock had previously fallen nearly 20% in January, amid selling. Stocks came under pressure, especially after CEO Elon Musk said that Tesla will not offer any new model cars to customers …
Read More »NZD/USD Rebounds Amid Improved Risk Appetite
The NZD/USD pair is enjoying a modest rebound from the 14-month lows it struck last Friday amid improved risk appetite. Traders will have plenty of US data, Fed speakers’ statements and remarks, in addition to Q4 NZ jobs data to monitor this week.A more risk-on mood in global equity and …
Read More »Stock Market Jumps On Q4 Earnings, GDP
A series of Q4 earnings and economic reports combined to pusg the stock market higher Thursday morning, a day after wide swings greeted the Federal Reserve’s latest views.The Nasdaq composite and S&P 500 climbed 1.3% at 10 a.m. ET. The Dow Jones Industrial Average rose 1%. Small caps were up …
Read More »