Investors were relieved to hear that the new windfall tax on banks will be capped in Italy. Yahoo notes that shorts are capitulating when market ris...
US Markets. Yesterday, the S&P reversed a 4 day losing streak, but on light volumes ($58bn). Today, we’re seeing red be...
There’s a camp that is forecasting earnings growth to become positive in 3Q23, after 3 quarters of declines, per Bloomberg. Folk...
Mgmt reported better-than-expected rev and EPS due to stronger services (subscriptions like Apple TV+ and Apple Music, warranties ...
Buffett shared on CNBC that Berkshire bought $20 bn of Treasuries over the past 2 weeks, and "the only question for next Monda...
Fitch downgraded the US’ credit rating to AA+ from AAA. You can read more here: Statement, Reuters, Bloomberg. They cite...
US job openings declined in June to their lowest level since April 2021, per data hot off the press. ...
Per GS and Axios, effective interest rates are near historical lows for both S&P and Russell constituents. So, higher rates do...
Data on inflation and labor showed signs of cooling, which is fueling today’s morning rally. PCE (the Fed’s fav inflation ...
The Fed raised rates by 25bps and set a target range of 5.25% - 5.5%. Powell noted they will continue to be data-dependent, and they will have several months of additional data before having to decide in September. Economists, though, are forecasting that the US is done with its rate hikes, per the ...
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US tech is down, so that drags a lot of things down. Disappointing earnings calls from $SNAP, $MSFT and $TXN outweighed the...
It’s big tech earnings season. Bernstein is out with a cheat sheet on what to look for, and potential stock px reactions on t...
JPM is out with a solid piece this morning. My summary of their data: a lot of key companies are reporting earnings this week, ...
Today we will see what the market’s reaction is to a mix of drivers—from an options expiry to an out-of-cycle rebalance for t...
The S&P’s day session has been responsible for all of the market’s positive return, with overnight trading generating ...
The forward multiple for the US market is roughly 19.8x, much higher than historically. Earnings estimates for 2024 imply a +10% ...
Overall, expenses are up and results depend on the bank. BofA notched a beat on earnings with strong gains by its fixed-income an...
Per Bernstein, FOMO brought in a massive inflow to tech in the last 4 weeks....