On the data front, August’s S&P CoreLogic Case-Shiller National Home Price Index rose 13% year-over-year, down from July’s print of 15.8%. While August’s Case-Shiller 20-City Index dropped 1.3% month-over-month marking the second consecutive monthly decline. Rounding out the schedule, August’s Federal Housing Finance https://dotbig.com/markets/stocks/SBUX/ Agency’s House Price Index fell 0.7% from prior months -0.6%. In earnings news, United Parcel Service Inc is up 1% after reporting earnings that beat expectations. However, General Electric Company is down 1.6% in mid-day trading after missing earnings estimates and outlining plans to cut costs in renewable energy.
- Here’s an explainer, and a basic guide to finding the stocks that fare better with inflation.
- The Commerce Department this morning said retail sales rose 1% month-over-month in June.
- South Korean computer chipmaker SK Hynix says it might be forced to sell its manufacturing operations in China if a U.S. crackdown on exports of semiconductor technology and manufacturing equipment to…
- Fed released a report showing a moderate expansion of the economy amid concerns about inflation and worker shortage.
- However, it’s important for investors to remember that this report is for August, meaning that there is quite a substantial lag in the data.
In the prior week, inventories had increased by 9.4 million barrels. Audi has been unable to keep up with customer demand for its portfolio Starbucks stock of electric vehicles due to supply chain challenges. Ethereum was trading around $1,400, following a 9% decline in the past week.
Whats The Reason Behind The High Inflation And Why Are Prices Out Of Control?
General Electric Company (GE $72) reported adjusted Q3 EPS of $0.35, well below the $0.47 estimate, as revenues rose 7% y/y to $18.44 billion, roughly in line with estimates. The conglomerate, which operates in the aerospace, energy, and healthcare sectors, lowered its full-year guidance. Coming to key economic data, S&P/Case-Shiller August home prices as well as the FHFA August home prices are due to be released on Tuesday, showing us how the housing market had fared in August and what is expected of the sector.
It’ll be interesting to see if this downward trend will continue going forward as the Federal Reserve looks to raise interest rates to fight inflation while oil producers lower production in order to maintain the price. In addition, WTI crude oil is relatively flat, as it hovers around the high-$84 per barrel range. Oil’s recent weakness has caused Starbucks stock prices at the pump to decline when compared to last week. Securities and Exchange Commission and the Financial Industry Regulatory Authority, but is not licensed or registered with any financial services regulatory authority outside of the U.S. Barchart Sectors are classifications of stocks in the same type of business or industry group.
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In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis. On the economic agenda, the University of Michigan will release its consumer sentiment preliminary index for September. It’s expected to rise almost 2 points to 60.0, the third straight monthly increase dotbig after tumbling to an all-time low of 50.0 in June when record-high gasoline prices fueled inflation fears. Dow member Coca-Cola Company (KO $59) posted Q3 earnings-per-share of $0.69, versus the $0.64 FactSet estimate, as net revenues grew 10% year-over-year (y/y) to $11.1 billion, north of the expected $10.5 billion.
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This brings year-over-year growth to 3%; however, it is still below the official target of approximately 5.5%. Dollar Index is little changed adding 0.03% against a basket of major currencies. On the other hand, the British pound sterling edges higher as investor sentiment improves following the announcement of Rishi Sunak as the newly elected Prime Minister. On the data front, October’s Consumer Confidence Index missed estimates and fell 5.3 points to 102.5 amid rising concerns of a possible recession next year. The Richmond Federal Reserve Manufacturing Index also missed estimates and contracted 10 points from September’s print of 0, reaching its lowest level since May 2022.
Schwab Center for Financial Research (“SCFR”) is a division of Charles Schwab & Co., Inc. The information contained herein is obtained from third-party sources and believed to be reliable, but its accuracy or completeness is not guaranteed. This https://www.ig.com/en/forex/what-is-forex-and-how-does-it-work report is for informational purposes only and is not a solicitation, or a recommendation that any particular investor should purchase or sell any particular security. The investment information mentioned here may not be suitable for everyone.
How Does This Cause The Stock Market To Go Down?
Each attempts to give the economy a lift by encouraging consumers and businesses to spend money.
Fed Report On Economy Shows Uncertain Future
Conversely, should interest rates remain sticky at current levels, all bets are off on how far this equity rally can go beyond current prices. As a result, we stay tactically bullish as we enter the meat of what is likely to be a sloppy earnings season. We just don’t have the confidence that there will be enough capitulation on 2023 earnings to take 2023 earnings per share forecasts down in the manner that it takes stocks to new lows. Stocks on Tuesday settled moderately higher, with the S&P 500 and Nasdaq 100 posting 1-month highs and the Dow Jones Industrials posting a 6-week high. A sharp decline in T-note yields Tuesday sparked a rally in technology stocks. Tuesday’s U.S. economic news was mixed for stocks, with home prices and consumer confidence falling more than expected. Stocks in Europe finished mostly higher to continue yesterday’s rally.
How Does Inflation Affect Stocks? Heres An Explainer, And A Basic Guide To Finding The Stocks That Fare Better With Inflation
In corporate earnings news, Medpace Holdings Inc jumped 37.7% after it blew past analyst expectations. The stock was down roughly 26% year-to-date before third quarter earnings were announced after the close on Monday. Meanwhile, Logitech International SA rose 11% following the company’s plans to roll out a new line of products in an effort to spark buyer interest again after losing momentum post- pandemic. With so much turbulence over the last quarter, month and even week, the https://dotbig.com/markets/stocks/SBUX/ chances that the stock market will end 2022 on a high note have nearly evaporated. As noted last week, the 200 week moving average is a powerful technical support level for stocks, particularly in the absence of an outright recession, which we don’t have yet. While some may argue a recession is inevitable over the next 6 to 12 months, the market will not price it, in our view, until it’s definitive. The typical signal required for that can only come from the jobs market.
