Author: Bruno T
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Upcoming Week’s Global Economic and Financial Highlights – Nov 5th
In the upcoming week, the United States will see a flurry of activities, including speeches by several Federal Reserve officials, the release of the Michigan Consumer Sentiment index, and foreign trade data. Moreover, the earnings season will continue with reports from prominent companies such as Berkshire Hathaway, Gilead Sciences, Uber, and Walt Disney. Across the…
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US Equities Get a Boost from Weak Jobs and Hourly Earnings Data as Interest-Rate Hike Risks Diminish
US equity indexes surged as slower-than-expected growth in monthly nonfarm payrolls and average hourly earnings led to a significant drop in the dollar and government bond yields. This shift reflected a growing perception that the Federal Reserve is nearing the end of its monetary tightening cycle. The Nasdaq experienced a 1.4% jump, reaching 13,479.2 points,…
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Apple’s Stock Takes a Hit Following Bleak Holiday Quarter Warning
On Friday, Apple’s stock (NASDAQ:AAPL) experienced a 3% decline following disappointing news for Wall Street. The company provided a forecast that suggested subdued growth during the quarter traditionally marked by robust holiday season sales. This drop resulted in a potential market value loss of over $80 billion, considering its premarket share price of $172. Apple’s…
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Fed Keeps Interest Rates Unchanged, Citing High Inflation And Firm Wage Gains; Treasury hits 2-week low
The Federal Reserve’s Federal Open Market Committee (FOMC) kept the United States’ benchmark interest rate unchanged in the range between 5.25% and 5.50% this Wednesday, in line with market consensus. Today’s FOMC decision was “unanimous.” In the statement released with the decision, the FOMC reported that recent indicators suggest that American activity has been expanding…
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U.S. Private Sector Employment Increases Less Than Expected In October
A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. increased by less than expected in the month of October. ADP said private sector employment climbed by 113,000 jobs in October after rising by 89,000 jobs in September. Economists had expected employment to jump by 150,000 jobs. “In all,…
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WeWork’s Stock Plummets as Reports of Upcoming Bankruptcy Filing Emerge
WeWork (NYSE:WE) experienced a sharp decline in its stock value, plunging over 35% in premarket trading on Wednesday. This drastic drop followed reports in the media that the flexible workspace provider was contemplating filing for bankruptcy as early as the upcoming week. The New York-based company, grappling with a substantial debt burden and consistent losses…
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Keep An Eye Out: Pre-Market Movers And Analyst Recommendations
Today, all eyes are focused on the U.S. Federal Reserve’s monetary policy decision later in the day. U.S. rate futures have priced in a 99.7% chance for the Fed to keep its federal funds rate range unchanged at 5.25-5.50%. In addition, market participants will be closely observing Fed Chair Jerome Powell’s post-decision press conference for…
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Keep An Eye Out: Pre-Market Movers And Analyst Recommendations
Pre-Market U.S. Stock Movers Pinterest Inc (NYSE:PINS) soared over +16% in pre-market trading after the company reported upbeat Q3 results. NVIDIA Corporation (NASDAQ:NVDA) fell about -0.5% in pre-market trading following a report by the Wall Street Journal, which indicated that the latest U.S. export restrictions on high-end chips could potentially lead the company to cancel…
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Caterpillar’s Profit Surges Amidst Strong Demand for Construction Equipment
On Tuesday, Caterpillar (NYSE:CAT) reported an increase in third-quarter earnings, driven by robust infrastructure investments in key markets that spurred demand for its premium construction equipment. Before the market opened on Tuesday, the company’s shares were up by 3.3%. The demand for heavy machinery has been on the upswing as the United States undertakes significant…
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Pfizer Swings to Q3 Adjusted Loss, Revenue Falls
On Tuesday, Pfizer (NYSE:PFE) announced its first quarterly deficit since 2019, attributing it primarily to charges associated with its COVID-related products, including the antiviral treatment Paxlovid and the Comirnaty vaccine, which it developed in collaboration with BioNTech. For the third quarter, the company reported a Q3 adjusted loss Tuesday of $0.17 per diluted share, swinging…