Good MorningThe S&P 500 fell more than 1.5% on Thursday as the market reacted to Meta Platforms and Microsoft earnings. The results were good and better than expected but were overshadowed by increased spending and trimmed guidance for AI growth. The fear is that slowing growth will cap the market, but the risk is slim. Given the trends, guidance from Microsoft and Meta is likely to be cautious. AI spending has ramped up for the last two years and paid off well for both companies. The likely scenario is a short-lived price pullback and buying opportunity for the market.
The PCE price index played a role in Thursday's sell-off. The Fed's preferred gauge of consumer-level inflation came in as expected in most comps; however, the core figures were slightly hotter than forecast. At 2.7%, the pace of core inflation is accelerating compared to the prior month, which may give the Fed reason to slow the pace of policy easing at the next meeting. The FOMC meets next week and is expected to lower rates by at least 25 basis points and indicate at least another 100 bps of cuts by the end of next year. Featured: Generational Opportunities in the 4th Industrial Revolution (Unstoppable Prosperity) |
Markets | | | The utilities sector, represented by the Utilities Select Sector SPDR ETF (NYSE: XLU), has outpaced the market in 2024, rising by 25% year-to-date and surpassing the SPY ETF's nearly 20% return. This outperformance has positioned utilities as a surprise leader, driven by the recent rate cuts, rene... Read the Full Story |
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Markets | | | Brian Niccol is exactly what Starbucks (NASDAQ: SBUX) needs, which is why the stock price will move higher soon and sustain an uptrend over time. His experience with Chipotle Mexican Grill (NYSE: CMG) makes him a perfect match for the company. His ability to focus on the brand, product quality, an... Read the Full Story |
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Markets | | | Amazon led U.S. stock indexes higher on Friday, while a surprisingly weak jobs report marred by some unusual occurrences cemented bets on Wall Street for another cut to interest rates next week.The S&P 500 rose 0.4% to recover some of its loss from the day before, which was its worst in eight w... Read the Full Story |
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Stocks | | | Worries about this week’s tax-raising U.K. budget within financial markets appear to have eased with the interest rates charged on British debt steadying and the pound rising against most other currencies Read the Full Story |
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Markets | | | Meta Platforms Inc. (NASDAQ: META) has, for the most part, enjoyed a stellar year. Shares of the tech titan have been building on a 550% rally that has been underway since October 2022, and there are several reasons to be excited about them heading into next year. Yet, after posting robust Q3 e... Read the Full Story |
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From Our PartnersThe International Monetary Fund just released a dire economic warning related to AI…
Something big and terrifying is headed our way.
In their words: “We have very little time to get people ready for it, businesses ready for it.” | | | | Click here to see the full video |
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Markets | | | Apple Inc. (NASDAQ: AAPL) delivered a double-beat in its quarterly earnings, including posting a record quarter for iPhone sales revenue. However, AAPL stock dropped over 1% following the report. It seems that while the report would be considered very good, it wasn’t good enough for analysts... Read the Full Story |
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Markets | | | America’s employers added just 12,000 jobs in October, a total that economists say was held down by the effects of strikes and hurricanes that left many workers temporarily off payrolls. The report provided a somewhat blurry view of the job market at the end of a presidential race that has pivoted h... Read the Full Story |
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Markets | | | The global push towards a cleaner energy future is accelerating, but a significant piece to the puzzle remains: the intermittency of renewable energy sources like solar and wind. This challenge has fueled a market for energy storage solutions, and one company leading the charge is Energy Vault (NY... Read the Full Story |
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Markets | | | Exxon Mobil's third-quarter profit beat analysts' expectations, as the oil and gas giant was helped by contributions from Pioneer Natural Resources, a recent acquisition. Exxon earned $8.6 billion, or $1.92 per share, for the three months ended Sept. 30. A year earlier the Spring, Texas-based compan... Read the Full Story |
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Markets | | | The average rate on a 30-year mortgage in the U.S. rose for the fifth straight week, returning to its highest level since early August.The rate rose to 6.72% from 6.54% last week, mortgage buyer Freddie Mac said Thursday. That's still down from a year ago, when the rate averaged 7.76%.Borrowing cost... Read the Full Story |
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