| Stocks ended last week with a lackluster performance, with most indexes ending the session close to where they began. The Nasdaq was the dayâs lone loser after posting big gains earlier in the week.
Dow [+0.1%]
S&P 500 [<0.1%]
Nasdaq [-0.2%]
Russell 2K [+0.1%]
Futures are sitting near flat in early trading. S&P 500 contracts are currently up by less than 0.1%.
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đ© Buffett's Bonanza: Berkshire's Earnings Beat
Wake up, investors! It's Christmas in March for Berkshire Hathaway enthusiasts.
Over the weekend, Warren Buffett, the Oracle of Omaha himself, delivered a financial feast that has the market buzzing faster than a bee in a bottle of Coke.
Berkshire Hathaway's earnings soared past expectations, catapulting Class B shares up by as much as 5% in the pre-dawn trading frenzy. Lately, they've settled in for a cozy 1.7% uptick.
đ Earnings Highlights
Diving into the details, here's what made Buffett's latest shareholder letter more eagerly awaited than the season finale of your favorite show:
Operating earnings? They didnât just walk; they sprinted 28% to a cool $8.48 billion, leaving Wall Street's estimates eating dust.
Berkshireâs piggy bank is overflowing, with cash reserves ballooning to a record-smashing $167.6 billion, up from $157 billion just a quarter ago.
A roll of the dice on Japanese trading houses netted a handsome $8 billion gain by year-end. Who says old dogs canât learn new tricks?
At the close of 2023, Berkshire's net worth stood at a staggering $561 billion, according to the gospel of GAAP accounting.
đ The Berkshire Bounce
With Berkshire Hathaway's Class A and B shares leaping 16% and 17% this year, respectively, they're sprinting ahead of the S&P 500, which seems to be jogging in place with a 7% gain.
It's clear Buffett's conglomerateâboasting a treasure trove from insurance and utilities to stakes in Coca-Cola, American Express, and Occidental Petroleumâis more electrifying than ever.
So, as the market gears up for another day, Berkshire Hathaway shares are not just rising; they're setting the pace, proving once again that when it comes to making money, Buffett's empire is in a class of its own.
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