SPX500 Cautious after Strong NFPs
The US index is subdued, as Friday’s robust jobs report raises the bar for rate cuts by the Fed and casts some doubt over aggressive market expectations
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The US index is subdued, as Friday’s robust jobs report raises the bar for rate cuts by the Fed and casts some doubt over aggressive market expectations
Apple (AAPL.us) shares have stalled into 2024 since being downgraded by Barclay's analyst Tim Long (neutral to underweight). The basis for the downgrade was weak hardware sales as iPhone 15 demand disappoints. In his note to clients, Long says that "We are still picking up weakness on iPhone volumes and mix, as well as a lack of bounce-back in Macs, iPads and wearables," with "worse data points out of China,…
In a report, Bank of America analysts led by Justin Post, suggest that advertising revenue growth is a distinct possibility, coming from the addition of adverts to Prime Video this month and from other advertising partnerships.
There is a relationship between the 10-year real rate and the SPX500. The correlation coefficient between the two is a robust -87%. I.e. they generally travel together but in opposite directions. This makes sense given the time value of money of the SPX500, where a lower real rate will tend to support the stock market.
The sports apparel giant posted mixed results on Thursday, with just 1% y/y revenue growth and trimmed its full FY24 outlook, partially due to stronger USD and external headwinds in China
Alphabet (GOOG.us) is trading at levels last seen in April 2022, with $145.00 being regarded as overhead resistance (red vertical line). There are some promising technical developments, which if maintained, should see GOOG.us overcome this overhead resistance.
Apple will stop selling two versions of its smartwatch in the US. This is because the US International Trade Commission found that these violate a patent held by medical technology group Masimo.
Watch today’s US Open for insights on the outcomes of the policy meetings by the Fed, the BoE and the ECB, as the Bank of Japan picks up the baton next week
The Fed maintained rates at 5.5% and kept more hikes on the table, but the updated projection imply at least three cuts in 2024, sending NAS100 close to new record highs
The Fed, yesterday, held the policy rate steady at 5.25-5.5%, which was largely expected. However, it did surprise with a dovish tone maintaining that growth “has slowed” and “inflation has eased.” The dot plot showed an extra cut for 2024, now numbering 75bps as opposed to 50bps as signalled in the September update. Moreover, the final hike as per September was omitted so the Fed funds rate is now 4.6%…
The Red Devils are having a terrible season and were eliminated from the top European competition on Tuesday, depriving the club of prize money, while the stake sale saga is ongoing
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