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Ticker Tea
April 01, 2024
Happy Monday - its gonna be a great week! 😎
Last week marked a slow close to the quarter, with the S&P 500 barely inching up by 0.17%, reflecting the sluggish pace. Big names like Apple and Tesla saw minimal gains, underlining the overall tepid market movement.
As we move into a new quarter, the market anticipates a shift with a closer focus on potential rate adjustments by the Fed, following a period devoid of major earnings reports to influence the trading landscape.
Earnings season will kick off ~end of next week with JPM, Wells Fargo and Citigroup releasing results on Friday (Apr 12). Earnings calendar for this month here.
Key Indicators This Week
ISM PMIs: The manufacturing sector's PMI has consistently been below 50, indicating contraction, a trend that, if continued, might push the market towards anticipating rate hikes. Conversely, the services sector has shown mild expansion. The outcome of these reports could significantly influence market sentiment.
Fed Speakers: With multiple Fed officials, including Powell, scheduled to speak, their comments, especially regarding interest rates, will be closely monitored for potential market impact.
Employment Data: The JOLTS Job Openings and unemployment reports, including the ADP Non-Farm Payrolls and the government's Non-Farm Payrolls, will provide crucial insights into the labor market's health, potentially affecting the Fed's stance on rate changes.
Equity markets for the month of April will end... |
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» Stock futures point upwards as Wall Street gears up for Q2, with Dow, S&P 500, and Nasdaq futures showing modest gains. Inflation data aligns with expectations, bolstering forecasts of a Fed rate cut. (link)
» Tony Dwyer from Canaccord Genuity urges bold Fed rate cuts amid weakening job market and easing inflation, promoting diversified investments beyond big players. These cuts are expected to bolster broader economic growth, reshaping market dynamics beyond dominant firms. (link)
» Samsung plans to upgrade Bixby with generative AI, aiming to make interactions more conversational across its devices. This move reflects a broader trend of integrating advanced AI to improve user experiences. (link)
» The Senate is set to modify the House's TikTok bill to make it more legally robust, amidst debates over changes that could delay or derail the process. This effort involves extending divestiture deadlines and possibly expanding the bill's reach, reflecting a cautious approach to regulatory action. (link)
» OpenAI introduces "Voice Engine," an advanced text-to-speech tool with the ability to closely mimic human voices, yet limits its release amid deepfake concerns. The technology undergoes rigorous ethical scrutiny and is currently available to a select group of developers. (link)
» Saks Fifth Avenue's flagship store is appraised at $3.6 billion as it explores financing to buy competitor Neiman Marcus, signaling a potential consolidation among America's luxury department stores. This move comes amid a resurgence in demand for high-end Fifth Avenue real estate and fluctuating sales within the luxury retail sector. (link)
Major ($10bn+) earnings releases scheduled the next five business days 👇 Click here for a comprehensive list of upcoming earnings releases
Results from Friday’s economic releases & today’s schedule below 👇 Click here for full schedule & live updates of Wall Street estimates.
People seldom do what they believe in. They do what is convenient, and then repent.
Bob Dylan
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