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2023-01-31 21:13:48 Traders Are Flat Ahead of Fed and Big Tech Earnings

Stock bulls are nervous ahead of the US Federal Reserve’s policy decision due tomorrow as well as a string of highly anticipated earnings results from big tech behemoths.

The Fed’s two-day policy meeting begins today and Wall Street widely expects officials will decide to increase interest rates by 25-basis points, versus 50-basis points in December.

It’s all about the Fed and big tech earnings these next few days.

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2023-01-30 20:01:54 Could Big Tech layoffs keep growing? Apple, Amazon, Facebook and Google may give hints

Analysts expect Apple to join Amazon, Meta, Alphabet and others in cutting jobs, and the results and forecasts delivered this week could help determine whether even more reductions are on the way.

A backdrop of layoffs amid slowing demand for core products like digital ads, electronics and e-commerce, after a two-year pandemic surge and a two-decade-plus honeymoon with investors. Some analysts say the bottom hasn’t arrived, for either their finances or their workforces.

Analysts have said Meta’s “darkest days” are still ahead, as it navigates a round of more than 11,000 layoffs, competition from TikTok and its early stumbles in the metaverse.

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2023-01-30 14:29:25 Is Vanguard the Sinking Ship ?

New business drops for world’s second-largest asset manager as net cash flows fall by half to $151bn.

Net investor inflows dropped to $151bn in 2022, down 49.6 per cent on the $299.4bn in new cash gathered over the previous year, according to data provided by the company.

Vanguard is in deep water as a recent report showed that Vanguard could lose at least $3 trillion by 2050 if it fails to act on the climate crisis. And it's falling further and further behind.

Is Vanguard steering the world toward financial and climate disaster?

Will its investors face increasing wealth destruction? Vanguard might not be the safe, steady choice as it claims to be.

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2023-01-29 15:02:12 Institutional Investors Forecast 'Strong Year' for Bitcoin — 68% Expect BTC to Hit $100K

A new survey shows that institutional investors expect “a strong year ahead for bitcoin” and are confident about the cryptocurrency’s long-term valuation. In addition, 68% of institutional investors surveyed agree that bitcoin could reach $100,000.

Professional investors are forecasting a strong year ahead for bitcoin and are confident about its long-term valuation. Nearly nine out of 10 professional investors predict bitcoin price rise this year. Four out of five agree $100,000 valuation is possible but only for long-term investors.

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2023-01-28 16:04:51 S&P 500 nears first ‘golden cross’ in 2½ years, but this doesn’t guarantee more gains ahead

The golden-cross indicator is used by technical analysts as a sign that a particular upward trend in markets or currencies is gaining momentum. Barring a massive selloff in stocks, the S&P 500’s 50-day moving average should cross its 200-day moving average in a matter of days.

The S&P 500 has seen 52 golden crosses since 1930, according to Dow Jones Market Data, which used back-tested data to account for the index’s performance prior to its creation in 1957. In that time, stocks were trading higher one year later 71% of the time.

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2023-01-28 16:01:56 US Lawmaker Outlines Priorities to Regulate Crypto and Make America the Place for Blockchain Innovation

The chairman of a newly formed digital assets committee, U.S. Congressman French Hill, has outlined some priorities to regulate the crypto sector and ensure America is the place for fintech and blockchain innovation. “We want a regulatory framework that’s transparent for developers, investors, and potential consumers,” the lawmaker emphasized.

We want that technology to be done here in the United States. We want a regulatory framework that’s transparent for developers, investors, and potential consumers as people try to prove a use case. And finally, we want to make sure the people have full transparency of that.

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2023-01-16 18:40:44 U.S. Banks Prepare For Recession

Major U.S. banks have reported mixed results for the fourth quarter, as bank executives pointed to the rising odds of a “mild recession,” with inflation and interest rate hikes challenging households and businesses. It seems like big U.S. banks are preparing for a mild recession.

Major U.S. banks released mixed fourth-quarter results on Friday as executives warned of the likelihood of a “mild recession,” and noted the difficulties faced by consumers and businesses due to inflation and interest rate increases, reports The Wall Street Journal.

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2023-01-16 17:15:11 Job openings data is missing a recent upturn in layoffs

Goldman Sachs looked at layoff notices filed under the Worker Adjustment and Retraining Notification Act, which require companies to notify state governments, and affected individuals, of plans to lay off 500 or more employees 60 days in advance. The WARN Act also applies to companies making at least 50 job cuts when an employment site is shut down, or the number of layoffs account for at least one-third of total workforce.

WARN Notices from seven big states — California, New York, Texas, Florida, Pennsylvania, Virginia and Ohio — tend to track the national picture very closely, which is useful because some of the smaller states are slow to report the data. And the big-state WARN Act data is more timely than the Labor Department’s Job Openings and Labor Turnover Survey, or JOLTS.

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2023-01-14 14:44:36 Consumer Sentiment Rises To Multi-Month Highs

On January 13, U.S. released preliminary Michigan Consumer Sentiment report for this month. The report indicated that Consumer Sentiment improved from 59.7 in December to 64.6 in January, compared to analyst consensus of 60.5.

The report showed that consumer mood was improving. At current levels, Consumer Sentiment is close to the levels of April 2022, when Consumer Sentiment settled at 65.2. The bottom was reached at 50 in June. Back then, consumers were extremely worried about rising inflation and high prices at the pump.

The strong consumer is an additional argument for the Fed to push rates towards the 5.00% level. At the same time, the news may be interpreted as bullish for riskier assets as they show that the U.S. economy remains in a decent shape despite recession fears.

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2023-01-13 19:35:26 JPMorgan, Wells Fargo, Bank of America and Citi beat earnings expectations, but worries about ‘headwinds’ remain

JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. managed to beat Wall Street’s reduced expectations for their fourth-quarter profits as higher interest rates boosted income from loans.

The banks turned in stronger-than-expected results despite a slowdown in overall deal activity such as home mortgage loans and initial public offerings.

“We still do not know the ultimate effect of the headwinds coming from geopolitical tensions including the war in Ukraine, the vulnerable state of energy and food supplies, persistent inflation that is eroding purchasing power and has pushed interest rates higher, and the unprecedented quantitative tightening.”

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