- Ticker Tea
- Posts
- 📊 Inflation, ↑ Rates Here To Stay
📊 Inflation, ↑ Rates Here To Stay
Ticker Tea
March 13, 2024
Good Morning ☀️
Yesterday major indices experienced gains, buoyed by a U.S. CPI report that exceeded market expectations and a dip in core CPI to its lowest in nearly three years. Sentiment was also uplifted by positive developments in tech, particularly regarding demand for cloud and AI, as indicated by Oracle's performance following their earnings release on Monday.
Despite a rise in the 10-year T-note yield, the markets maintained their upward trajectory, supported by the CPI data alignment with forecasts and a year-on-year CPI figure slightly above anticipations but near a historical low.
In other news, Factset is reporting Lowest Number of S&P 500 Companies Citing “ESG” on earnings calls since Q2 2019 (link)
⬆️ Gainers: Oracle (+12%), Li Auto (+9%), SMCI (+7.5%), MicroStrategy (+7.5%), Nvidia (+7%), Celsius (+6.75%) (link)
⬇️ Losers: Southwest Airlines (-15%), On Holdings (-9%), Illumina (-4.5%), Boeing (-4.3%), Robinhood (-3%) (link)
How has the newsletter length been? |
Were you forwarded this email? Subscribe here
» February's core CPI rise of 0.4% signals stubborn inflation in the US, with prices for used cars, air travel, and clothing driving the index up. This inflationary pressure reinforces the Fed's cautious stance on rate cuts, keeping policymakers on high alert for further economic indicators. (link)
» TikTok is preparing for a comprehensive legal battle against a new US bill demanding divestiture from its Chinese parent company, ByteDance, preferring legal avenues over sale. CEO Shou Chew actively lobbies against the legislation, which faces critical votes in the US House and lacks Senate co-sponsorship. (link)
» Citadel's Ken Griffin urges the Federal Reserve to approach interest rate cuts with caution, warning against rapid policy reversals. He believes slower rate adjustments are prudent to avoid economic instability, reflecting on recent investment moves and political opinions. (link)
» Boeing's ($BA) stock has plummeted 29% this year, marking its largest valuation gap with Airbus due to multiple mishaps and decreasing confidence among airlines. As Boeing trails in aircraft deliveries compared to Airbus, analysts predict further market share gains for the European manufacturer. (link)
» In a comprehensive investigation, law enforcement agencies and CNBC uncover the sophisticated operations of organized retail crime groups, targeting retailers like Ulta ($ULTA), T.J. Maxx ($TJX), and Walgreens ($WBA). These criminal rings, costing billions in losses annually, employ a range of tactics from low-level shoplifting to elaborate fencing operations, challenging both retailers and law enforcement. (link)
» Larry Ellison, Oracle's ($ORCL) founder, saw his wealth increase by $15 billion as Oracle shares soared 12%, marking the stock's best day since 2021 and reaching a new high. This leap propelled Ellison to the fifth spot among the world's wealthiest, as Oracle's cloud and AI technology demand surges. (link)
Major earnings releases scheduled the next five business days 👇
Click here for a comprehensive list of earnings scheduled over the next 5 days (mkt cap $1bn+)
Economic results from yesterday are below, along with today’s schedule 👇 Click here for full schedule & live updates of Wall Street estimates.
We generate fears while we sit. We overcome them by action.
Dr. Henry Link
Reply to this email & let us know how we can improve (difficult to read, too long, dry, etc.)
How was this edition of Ticker Tea? |
Reply