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US stocks surged yesterday and look set for fifth consecutive weeks of gains after the Fed slowed down its pace of interest rate hikes and announced a 25 basis point rate hike. In the December meeting, the Fed raised rates by 50-basis points. Prior to that, the US central bank had raised rates by 75-basis…
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Microsoft (NYSE: MSFT) stock is trading lower in US premarket price action today. The company posted mixed earnings for its fiscal second quarter of 2023 and also provided tepid guidance which spooked investors. Microsoft reported revenues of $52.7 billion in the quarter that ended in December. The revenues rose 2% YoY and missed analysts’ estimate…
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Apple (NYSE: AAPL) would release its earnings for the fiscal first quarter of 2023 early next month. Here’s how Wall Street sees the stock ahead of the earnings release. 2022 was a tough year for Apple and its FAANG peers. AAPL stock slumped 28% but in a solace for investors, it was the best-performing FAANG…
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2022 turned out to be a terrible year for EV (electric vehicle) stocks. Yesterday, several EV stocks including Rivian, Lucid Motors, Arrival, and Lordstown Motors hit record lows. Other EV stocks like Lion Electric, Canoo, Fisker, and Nikola are also a tad short of their record lows. Even Tesla stock has slumped this year and…
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Those fancying a Santa Claus Rally this year are in for a rude shock as US markets have plummeted this week. Apple stock (NYSE: AAPL) which was holding steady so far is also drifting towards its 52-week lows amid the crash. Meanwhile, despite the recent weakness Apple stock is outperforming not only its FAANG peers…
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The broader US stock markets have recovered from their 2022 lows. The Dow Jones is now in a bull market while the S&P 500 and Nasdaq have also come off their lows. Meanwhile, Morgan Stanley, which correctly predicted the 2022 stock market crash is not too bullish on the markets heading into 2023. Notably, at…
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US stock markets rallied handsomely yesterday after Fed chair Jerome Powell’s dovish comments at a speech at the Brookings Institution. While the Fed has played party pooper over the last six months, this time Powell said just what the markets wanted to listen. The US central bank has raised rates by a total of 3.75%…
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Zoom Video Communications (NYSE: ZM) released its earnings for the fiscal third quarter of 2023 yesterday after the markets closed. While its earnings were better than expected, it lowered its full-year guidance. Zoom reported revenues of $1.1 billion which were 5% higher than the corresponding quarter last year and were in line with what analysts…
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Cathie Wood of ARK Invest has said that the Fed is making a mistake with its aggressive interest rate hikes and could end up causing an economic “bust.” Contrary to what many believe, Wood has long stated that the US economy is headed for deflation. Also, this is the first time when Wood has lashed…
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US stocks bounced back yesterday to start October on a high note. It was preceded by the crash in September where the S&P 500 lost over 9% and the world’s most popular index fell to its lowest level of the year. We’ve seen extreme volatility in US stocks this year. Markets have fallen to new…
