Financial News
- James Hyerczyk
ADP reported the private sector added 296K jobs in April as employers aggressively hired while holding pay gains in check.
- Bob Mason
Australian retail sales figures were in focus this morning. A 0.4% increase in March beat forecasts, with the inflation and the RBA failing to peg back spending.
- James Hyerczyk
Starbucks reports strong Q1 results, exceeding expectations with US steady, China rebounding, projecting 10-12% FY23 growth.
- Vladimir Zernov
Stocks are losing ground as traders cut their risks ahead of tomorrow’s Fed decision.
- James Hyerczyk
The cost of goods and services in the Eurozone went up by 7% compared to last year, as measured by the Harmonized Index of Consumer Prices (HICP), in April.
- Bob Mason
German retail sales figures likely affirm a Q1 contraction. However, the ECB will be more interested in core euro area inflation figures in focus today.
- Bob Mason
This morning, the RBA delivered a surprise 25-basis point interest rate hike, with the Board willing to do whatever it takes to bring inflation to target.
- Vladimir Zernov
Despite the U.S. manufacturing sector continuing to contract, companies are managing outputs to better match demand and prepare for growth.
- Vladimir Zernov
The stronger-than-expected Chicago PMI data provided material support to stocks.
- James Hyerczyk
March: $67.9B rise in income, $21.5B in spending; personal consumption up less than 0.1% or $8.2B.
- James Hyerczyk
Bank of Japan to continue monetary easing with negative interest rate and asset purchases for price stability and sustained wage increases.
- James Hyerczyk
Japan’s economy set for moderate recovery in 2023, but risks from uncertainties in overseas economies and commodity prices persist.
- Bob Mason
This morning, the Australia Producer Price Index drew interest. While inflationary pressures softened, the numbers will likely keep the RBA under pressure.
- James Hyerczyk
Amazon’s Q1 revenue exceeded expectations; AWS revenue increased 16%, advertising grew thanks to machine learning, leading to an 8% surge in shares.
- James Hyerczyk
Intel reports Q1 losses with 133% reduction in EPS and 36% YoY revenue decline. Despite struggles, the stock rises over 3% in extended trading.
- Vladimir Zernov
Traders bet that Fed may send a dovish signal at the upcoming meeting in May.
- James Hyerczyk
Jobless claims drop for the 4th consecutive week, while California and New Jersey maintain the highest jobless rates.
- James Hyerczyk
US Q1 2023 GDP up 1.1% despite consumer and government spending boosts, due to private inventory and residential investment decline.
- Bob Mason
This morning, the NZ Business Confidence survey drew interest. After the surprise RBNZ 50-basis point rate hike, inflation expectations have eased.
- James Hyerczyk
Despite facing challenges from a battered online ad market and increased competition, Meta exceeded revenue expectations in Q1.