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☆ Wall Street set to open lower ahead of Fed rate decision
  + stars: | 2023-01-30 | by ( Shreyashi Sanyal Johann M Cherian | Shreyashi Sanyal | Johann M Cherian | ) www.reuters.com   time to read: +3 min
Money markets now see rates peaking at 4.9% in June, still below the 5% level expected by Fed policymakers. Analysts expect S&P 500 earnings during the fourth-quarter to decline 2.9%, compared with the 1.6% drop expected at the beginning of the year, according to Refinitiv data as of Friday. Wall Street is expected to end the month higher with the tech-inclined Nasdaq (.IXIC) and the benchmark S&P 500 (.SPX) recovering December losses. ET, Dow e-minis were down 157 points, or 0.46%, S&P 500 e-minis were down 32.5 points, or 0.8%, and Nasdaq 100 e-minis were down 138 points, or 1.13%. Reporting by Shreyashi Sanyal and Johann M Cherian in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.
☆ Nasdaq falls as megacaps drop ahead of earnings, Fed meet in focus
  + stars: | 2023-01-30 | by ( Shreyashi Sanyal Johann M Cherian | Shreyashi Sanyal | Johann M Cherian | ) www.reuters.com   time to read: +3 min
Money markets now see rates peaking at 4.9% in June, still below the 5% level expected by Fed policymakers. Analysts expect S&P 500 earnings during the fourth-quarter to decline 3%, compared with the 1.6% drop expected at the beginning of the year, according to Refinitiv data. Wall Street is expected to end the month higher with the Nasdaq (.IXIC) and the S&P 500 Growth index (.IGX) recouping more than half their monthly losses from December. Five of the major 11 S&P 500 sector indexes fell with communication services (.SPLRCL) and technology (.SPLRCT) leading the fall. The S&P index recorded three new 52-week highs and no new low, while the Nasdaq recorded 39 new highs and eight new lows.
☆ Big-tech stocks are bouncing back in 2023. Now they face their first big test
  + stars: | 2023-01-24 | by ( Samantha Subin | ) www.cnbc.com   time to read: +4 min
"This is the first real test we've had in a while for big tech stocks," said Adam Sarhan, CEO of 50 Park Investments. Tech companies have already demonstrated that they are bracing for slower growth with a string of recent cost-cutting announcements and layoffs that have left few stalwarts untouched. Sarhan expects most technology companies to surpass expectations, in part because estimates have come so much. Some analysts remain optimistic heading into earnings season, viewing this period as a potential reset for dismal expectations. Companies often use this earnings season as an opportunity to guide for the year ahead.
☆ Wall St eyes higher open with earnings in full swing, Salesforce rises
  + stars: | 2023-01-23 | by ( Shreyashi Sanyal | ) www.reuters.com   time to read: +3 min
The tech-focused Nasdaq (.IXIC) index was the only major Wall Street benchmark that ended the previous week higher. Analysts now expect year-over-year fourth-quarter earnings from S&P 500 companies to decline 2.9%, according to IBES Refinitiv data, compared with a 1.6% decline at the beginning of the year. Among other stocks, Baker Hughes Co (BKR.O) slid 1.4% on missing fourth-quarter profit estimates, hit by component shortages and supply chain disruptions. Western Digital Corp (WDC.O) rose 4.0% on a report that the memory chip maker could merge with Japan's Kioxia Holdings. Reporting by Shreyashi Sanyal and Johann M Cherian in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.
☆ These 'recession-resistant' cybersecurity stocks have over 60% upside, analysts say
  + stars: | 2022-12-28 | by ( Ganesh Rao | ) www.cnbc.com   time to read: +3 min
That new trend raises the question: Can cybersecurity companies sustain earnings through a recession? Loukas, whose fund holds cybersecurity stocks such as CrowdStrike and Zscaler , said that as more businesses move into the cloud and cybersecurity threats evolve, companies will continue to prioritize spending on protection regardless of economic conditions. According to FactSet data, analysts expect the London-listed stock to rise by 89% in the next year. Shares in Silicon Valley-headquartered firms Zscaler and Palo Alto Networks are also expected to rise by 62% and 45%, respectively. Meanwhile, analysts at Mizuho said CrowdStrike , a Texas-based cybersecurity firm, is an "unrivaled" market leader.
☆ Wall St gains on strong Nike earnings, easing inflation expectations
  + stars: | 2022-12-21 | by ( Ankika Biswas Johann M Cherian | Ankika Biswas | Johann M Cherian | ) www.reuters.com   time to read: +4 min
U.S. consumer confidence rebounded in December as inflation retreated and the labor market remained strong, while 12-month inflation expectations fell to 6.7%, the lowest since September last year. Nike Inc (NKE.N) jumped 13.7% after reporting its best quarterly revenue growth in more than a decade, barring one quarter, and beat profit expectations on strong holiday demand from North American shoppers. Consumer discretionary stocks (.SPLRCD) led gains among the major S&P 500 (.SPX) sectoral indexes, while financial shares (.SPSY) also gained. Nike peers Lululemon Athletica Inc (LULU.O), Under Armour Inc (UAA.N) and Vans sneaker maker VF Corp (VFC.N) rose between 1.3% and 2.8%. Energy stocks (.SPNY) also rose tracking higher oil prices after data suggested a larger-than-expected draw in U.S. crude stockpiles.
☆ Wall Street eyes higher open on strong Nike earnings
  + stars: | 2022-12-21 | by ( Shubham Batra | ) www.reuters.com   time to read: +3 min
SummarySummary Companies Nike jumps on strong second-quarter resultsFedEx soars on cost-cutting planConsumer confidence, home sales data due at 10 a.m. Wall Street's main indexes closed slightly higher on Tuesday, following early losses as Treasury yields jumped after the Bank of Japan's surprise monetary policy tweak. Fears of a recession following the U.S. central bank's prolonged interest rate hikes have weighed heavily on equities since its policy meeting last week, despite signs of cooling inflation. Other data expected through the week on core inflation and the labor market will likely determine the future course of interest rate hikes by the Fed. Market volumes are expected to decline this week before the Christmas and New Year holidays amid low participation.
☆ Stock futures fall as investors await October retail sales
  + stars: | 2022-11-15 | by ( Samantha Subin | ) www.cnbc.com   time to read: +1 min
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, November 15, 2022. Stock futures fell in overnight trading as investors weighed another lighter-than-expected inflation report and looked ahead to retail sales data due out Wednesday. S&P 500 and Nasdaq 100 futures slipped 0.2% and 0.17%, respectively. The producer price index report, which measures wholesale prices, came in below expectations, which alleviated some of investors' concerns around inflation. Nine out of 11 S&P 500 sectors rose, led to the upside by communication services and information technology.
☆ Stock futures rise as investors look past disappointing tech earnings, Meta shares crater
  + stars: | 2022-10-26 | by ( Samantha Subin | ) www.cnbc.com   time to read: +2 min
Stock futures rose in overnight trading Wednesday as investors seemed to brush off disappointing results from Meta Platforms . Futures tied to the Nasdaq 100 traded 0.13% higher, while S&P 500 futures gained 0.21%. The Dow is on pace for its fourth positive week in a row since its five-week streak ended in November 2021. "Remember, the market is a forward-looking mechanism and the earnings reports tell us what happened in the past. Along with earnings, investors have their sights on an advanced reading of third-quarter gross domestic product expected to offer further clues into the state of the U.S. economy.
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