Image Source: Pexels S&P 500 Aggregate Estimates and Revisions The 24Q1 Y/Y adjusted blended earnings growth estimate is 8.7%. If the energy sector is excluded, the growth rate for the index is 8.5%. Please note that the 24Q1 year-over-year growth rate for Bristol Myers Squibb reflects an approximate $12 billion one-time charge related to its acquisition of Karuna Therapeutics. When including this one-time item, the S&P 500 24Q1 earnings growth rate declines to 5.6%. Of the 229 companies in the S&P 500 that have reported earnings to date for 24Q1, 77.7% reported above analyst expectations. This compares to a long-t...
Personal income and spending has become one of the two most important monthly reports I follow. This is in large part because the big question this year is whether the contractionary effects of Fed tightening have just been delayed until this year, or whether the fact that there have been no rate hikes since last summer mean that the expansion will strengthen.Because real personal spending on services for the past 50 years has generally risen even during recessions, the more leading components of this report have to do with spending on goods. Additionally, there are several components that form part of the NBER’s “official” toolkit for ...
Photo Credit: Marco Paköeningrat/Flickr.com Meta (Nasdaq: META), formerly Facebook, announced its quarterly results earlier this week that failed to impress the market. The company’s disappointing outlook coupled with big investment plans for AI sent the stock falling 16% in the afterhours trading session. Meta’s FinancialsMeta’s Q1 revenues grew 27% to $36.46 billion, ahead of the Street’s expected $36.16 billion. Earnings more than doubled to $4.71 per share, and were also ahead of the market’s forecast of $4.32 for the quarter. The significant growth in the earnings was attributed to the expense restructuring efforts tha...
As part of a new series, each week we typically conduct a DCF on one of the companies in our screens. This week we thought we’d take a look at one of the stocks that is not currently in our screens, Amazon.com Inc (AMZN). ProfileAmazon is a leading online retailer and one of the highest-grossing e-commerce aggregators, with $386 billion in net sales and approximately $578 billion in estimated physical/digital online gross merchandise volume in 2021. Retail-related revenue represents approximately 80% of the total, followed by Amazon Web Services’ cloud computing, storage, database, and other offerings (10%-15%), advertising services (5%...
Image Source: Pixabay The EUR/USD currency pairTechnical indicators of the currency pair: Prev Open: 1.0694 Prev Close: 1.0729 % chg. over the last day: +0.33 % Fears of stagflation pressured the dollar on Thursday after the revised US GDP for the first quarter showed slower-than-expected economic growth and persistent price pressures. In turn, the euro found support after Germany’s May GfK Consumer Confidence Index rose more than expected to a 2-year high. The March PCE Price Index inflation report will be released in the US today. The annualized PCE Index is expected to rise from 2.5% to 2.6%. A monthly increase of 0.3% is e...
After opening the day on a high note, Indian share markets reversed the trend as the session progressed and ended lower.After starting higher on Friday, equity markets had an anti-climatic end today dragged by Bajaj Finance, Bajaj Finserv. Why Indian Share Market is Falling?Indian benchmarks were impacted by the US market which fell after the country’s GDP grew at a slower-than-expected pace and showed persistent inflation. In the March quarter, the US economy grew at its slowest pace in nearly two years. Rising inflation moderated hopes that the US Federal Reserve would begin cutting interest rates this year.At the closing bell, the...
Image Source: Pexels Quarterly inflation data surprised to the upside and led the market to brace for a very unpleasant MoM print today. Thankfully it was due to upward revisions, primarily to January, with the March figure coming in line with initial expectations. Nonetheless, inflation remains too hot and September remains the earliest opportunity for an interest rate cut. US inflation remains hot, but not as hot as fearedSo the core PCE deflator has indeed come in at 0.3% month-on-month, with upward revisions to January and February, rather than the 0.48% MoM implied by the quarterly PCE deflator from yesterday, assuming no revisions...
Alphabet and Microsoft posted strong Q2 earnings driven by AI and cloud computing. Stocks surge in premarket trading today.lphabet Inc. (GOOG) and Microsoft (MSFT), two of the world’s largest technology companies, have reported strong second-quarter earnings driven by their investments and advancements in artificial intelligence (AI) and cloud computing.Both companies surpassed Wall Street expectations, with Alphabet reporting a revenue of $80.54 billion and an adjusted EPS of $1.89, while Microsoft posted a revenue of $61.86 billion and an EPS of $2.94.The impressive results have led to significant gains in their respective stock pri...
Image Source: Unsplash MSFT Elliott Wave Analysis Trading Lounge Daily ChartMicrosoft Inc., (MSFT) Daily ChartMSFT Elliott Wave Technical AnalysisFUNCTION: Counter TrendMODE: CorrectiveSTRUCTURE: ZigzagPOSITION: Intermediate (2)DIRECTION: Bottom in wave A of (2). DETAILS: We are considering a significant top in place with wave (1), and we are now looking for a three wave move correction into wave (2). We seem to be finding buyers on Medium Levell 400$, looking for 400$ to turn into resistance. MSFT Elliott Wave Analysis Trading Lounge 4Hr ChartMicrosoft Inc., (MSFT) 4Hr ChartMSFT Elliott Wave Technical AnalysisFUNCTION: Counter ...
Gold is extending its rebound off the $2300 psychological level!Even so, the precious metal appears to be on the cusp of ending a 5-week winning streak. Gold’s recent rebound suggests that demand for the safe haven asset still offsets the lowered expectations for Fed rate cuts in 2024. From a technical perspective, bullion appears to be guided upwards from a crucial support level: the 21-day simple moving average (SMA).The latest US GDP figures have ramped up stagflation fears and may have boosted safe haven demand.However, recent gains may prove fleeting.Later today (Friday, April 26th) at 12:30 GMT, the US is due to release...