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Netflix’s Q4 Breaks Records with ‘The Crown’ and ‘The Killer

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Netflix's Q4 Breaks Records with 'The Crown' and 'The Killer

Netflix’s Q4: 13.1M new subscribers, driven by hits. Total subscribers: 260M; stock up 8.3%, 65% gain in 2023. 2024 focus: advertising, $5B WWE deal for “Raw” in 2025. Netflix reported a record-breaking fourth quarter, surpassing Wall Street subscriber estimates with a substantial increase of 13.1 million subscribers, marking its largest-ever fourth-quarter growth. The streaming giant’s … Read more

Donald Trump Back in the Big Apple: Civil Fraud Trial Begins

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Donald Trump Back in the Big Apple: Civil Fraud Trial Begins

Trump enters the third week of a civil fraud trial in New York. Allegations focus on inflating net worth for favorable loans. Trump’s former lawyer, Michael Cohen, set to testify next week. Donald Trump is slated to make an appearance in a New York court for the third week of a civil fraud trial that … Read more

Devon Energy profit misses as output hit by winter storm, high labor costs

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Devon Energy profit

Devon Energy missed Wall Street expectations for fourth-quarter profit. The company predicted production of 643,000 to 663,000 boepd for 2023. Without hedges, the company reported a marginal increase in realized price. Due to a production hit from extremely cold weather in the United States during the quarter and higher labor costs, shale oil company Devon … Read more

Petroleum industry rise with increase in oil prices in US stock market

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oil prices us stock

The oil industry made huge gains in the US stock market along with an increase in oil prices. Russia would reduce production by 500,000 barrels per day. Investors are in a “wait and see” mindset. As the US stock market ended a dismal week with a mixed session, companies tied to the petroleum industry rose … Read more

Netflix soars to 230 million subscribers, co-founder steps down

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Netflix

Netflix reports more than 230 million users worldwide at the end of 2013. The company claims to have attracted 7.7 million new subscribers in just three months. Co-founder Reed Hastings steps down as CEO after 25 years in charge. Some number of new subscribers likely came in on Netflix’s ad-supported tier. Netflix, the US streaming … Read more

Tesla reports record deliveries but failed to meet Wall St.’s expectations

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tesla deliveries

Tesla reported record production and deliveries for the fourth quarter. It failed Wall Street’s expectations due to slower demand. Tesla’s fourth-quarter deliveries fell approximately 34,000 vehicles short of production. Tesla Inc (TSLA.O) reported record production and deliveries of electric vehicles for the fourth quarter on Monday, but it failed Wall Street’s expectations due to logistics … Read more

Tokyo stock market opens sharply higher after Wall Street rally

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tokyo stock market

The Nikkei 225 share index surged 2.67%, or 699.90 points, to 26,937.32 in early trading. The Topix index rose 2.04%, or 37.84% to 1,895.84. The strong opening occurred as the US market mounted a recovery after bumpy trade. The Tokyo stock market opened substantially higher on Friday, following Wall Street’s substantial gains despite US inflation … Read more

Tokyo registers lower stock openings, extends US fall

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tokyo stocks

Japan’s Nikkei index was down 0.58 percent, or 153.51 points, to 26,268.54 in early trading on Friday. Topix index fell 0.43 percent and the dollar was valued at 144.47 yen, compared to 144.42 yen in New York. Japan’s unemployment rate was 2.5%, down from 2.1% in August, according to official figures. On Friday, Japanese equities … Read more

Wall Street company fined a total of $1.8bn (£1.7bn) by US financial watchdogs

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Wall Street

The probe, according to the Securities and Exchange Commission (SEC), “uncovered persistent off-channel contacts.” Among the 16 companies mentioned by regulators were Barclays, UBS, and Goldman Sachs. As a result of the probe, some bankers have lost their jobs, shaking up Wall Street. Some of Wall Street’s biggest companies have been fined a total of … Read more

Mostly good earnings lift US stocks to 3rd straight gain

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US stocks
  • The S&P 500 finished at 4,130.29, up 1.4 percent for the day.
  • The Dow Jones Industrial Average climbed 1.0 percent to 32,845.13.
  • The tech-rich Nasdaq Composite Index jumped 1.9 percent.

Wall Street stocks finished a strong week on a positive note Friday, extending its rally to three days behind strong gains from Amazon, ExxonMobil and other giants following earnings results.

Investors shrugged off the latest indicator of persistent inflation, as Commerce Department data showed the personal consumption expenditures price index jumped 1.0 percent in June compared to May, outpacing personal income gains, which rose just 0.6 percent.

But stocks continued to push higher, rising again after the Federal Reserve’s second straight 75 basis point increase and negative GDP data suggesting a heightened risk of a US recession.

“The Fed has a clear path to continue with aggressive hikes, but many are still thinking they’ll be inclined to go at only a half point in September,” said Oanda’s Edward Moya.

The broad-based S&P 500 finished at 4,130.29, up 1.4 percent for the day and 4.3 percent for the week.

The Dow Jones Industrial Average climbed 1.0 percent to 32,845.13, while the tech-rich Nasdaq Composite Index jumped 1.9 percent to 12,390.69.

Among individual companies, Amazon surged 10.4 percent after impressing analysts with strong online sales and a good performance in its web services business.

Apple also climbed, winning 3.3 percent after reporting better-than-expected results on continued strength of iPhones.

ExxonMobil jumped 4.7 percent and Chevron soared 8.7 percent after both companies reported quarterly earnings records on the rise in energy prices following the Russian invasion of Ukraine.

But Procter & Gamble dropped 6.1 percent on disappointment over its outlook, while fellow Dow member Intel sank 8.6 percent after reporting a quarterly loss and cutting it sales outlook.

Intel blamed “the sudden and rapid decline in economic activity” as well as “our own execution issues.”

 

 

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US stocks tread water after rally

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US stocks
  • The Dow Jones is down 0.3 percent at 31,747.55.
  • The S&P 500 slips less than 0.1 percent to 3,935.22.
  • The tech-rich Nasdaq Composite Index gains 0.5 percent to 11,766.79.

Wall Street stocks were mixed early Wednesday, moving sideways after the prior day’s bounce that was partly a response to the market’s losses so far in 2022.

Major indices had piled on more than two percent Tuesday in what Briefing.com analyst Patrick O’Hare called a “technical” rally after a survey of investors suggested stocks had been oversold and were due for a turnaround.

Analysts also cited the better-than-expected tone from executives at large banks and other companies that reported results that eased worries about second-quarter earnings season.

Tuesday’s trading was “predominantly a technical rally,” O’Hare said. “The limiting factor is that the fundamental show isn’t that appealing, which is perhaps why the futures market this morning isn’t teasing an encore performance.”

About 15 minutes into trading, the Dow Jones Industrial Average was down 0.3 percent at 31,747.55.

The broad-based S&P 500 slipped less than 0.1 percent to 3,935.22, while the tech-rich Nasdaq Composite Index gained 0.5 percent to 11,766.79.

Among individual companies, Netflix slipped 0.7 percent after it reported the loss of 970,000 subscribers, its second quarter in a row with a decline.

Shares had risen immediately after the report as the streaming company predicted it would gain subscribers in the current period.

 

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Wall Street stocks gains on Goldman Sachs results, Boeing contract

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Wall Street
  • US stocks climb early Monday, extending a surge that began last week.
  • Boeing shares jump after Delta agrees to buy $13.5 billion worth of Boeing planes.
  • Earnings reports from Netflix, Johnson & Johnson and Tesla on the agenda this week.

Wall Street stocks climbed early Monday, extending a surge that began last week as markets absorbed Goldman Sachs’ good profits and a large new Boeing plane order.

Following a couple of punishing inflation readings last week, US stocks began the week on a high note, surging Friday on the back of strong retail sales figures.

Briefing.com analyst Patrick O’Hare pointed to “carryover momentum” at the start of a week that includes major earnings reports and decisions by the European Central Bank and other central banks.

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Asian markets rise as a result of positive consumer mood data

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Asian markets

Hong Kong’s Hang Seng index surged 2.2%.  Shanghai Composite index gained 1.2%. In Seoul, the Kospi jumped 1.7%. while Australia’s S&P/ASX 200 added 0.8%. Asian markets on Monday after Wall Street covered seven days of misfortunes with an expansive convention for stocks Friday. Hong Kong’s Hang Seng list flooded 2.2%, while the Shanghai Composite record … Read more

Asian shares rally, euro anxious for ECB and gas test

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Asian shares

Asian shares markets rallied on Monday. Following a much-needed bounce on Wall Street. Nerves stretched ahead of interest rate hike in Europe. Another round of corporate earnings reports.  Japan added 1.4%, having shed 3.5% last week. The Bank of Japan holds its policy meeting.  The euro was a fraction firmer at $1.0091. Asian shares markets … Read more

Wall Street Week Ahead: U.S. value stocks are threatened by recession fears

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Wall Street

The Russell 1000 Growth index (.RLG) has decreased by roughly 26 percent, while the Russell 1000 Value index (.RLV) has down by about 13 percent so far this year. Because growth stocks are more vulnerable to increasing interest rates than other asset classes, this had a greater negative impact on them than on other asset … Read more

Wall Street closes a turbulent week as concerns about rate hikes

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Wall Street

All three major U.S. indexes posted solid gains.  This reversed Thursday’s sell-off was driven by downbeat guidance.  All three indexes ended below last Friday’s close. As markets were spooked by hot inflation data.  The S&P 500 and the Nasdaq closed at record levels on Friday. Wall Street stocks shut down pointedly higher on Friday, finishing … Read more

Wall Street trembles as CPI data fuels concerns about rate hikes

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Wall Street

All three major U.S. stock indexes burst.  On the heels of the Labor Department’s highly anticipated Consumer Prices (CPI) data. The Nasdaq Composite was last in positive territory. While the S&P 500 was essentially unchanged. The Dow Jones was modestly red. Wall Street stocks changed on Wednesday as financial backers processed areas of strength shockingly … Read more

Wall Street declines in response to economic data and profits

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Wall Street

Huge bank income, CPI information anticipated not long from now. U.S. club administrators fall as Macau shades club. Market driving development stocks haul down Nasdaq. Lists down: Dow 0.52%, S&P 1.15%, Nasdaq 2.26. U.S. Wall Street lost ground on Monday as an absence of catalysts left market members watchfully setting out on seven days back-end … Read more

Wall Street increases as traders’ irrational concerns of rate increases

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Wall Street

U.S. stock markets have stabilized in July after a brutal selloff in the first half. The benchmark S&P 500 index (.SPX) has risen 3% so far this month, after recording its steepest first-half percentage drop since 1970. The S&P 500 rose 1.36%, while the Dow Jones gained 0.89%, and the Nasdaq added 2.21%. Wall Street … Read more

Wall Street set to open lower on recession fears

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Wall Street

The S&P 500 saw its worst first-half percentage decline since 1970. The Nasdaq 100 e-minis were down 145.75 points at the opening of trading on Tuesday. premarket declines for the mega-cap growth companies Alphabet and Microsoft from 1.2% to 1.6%. Investors worried about the risk of an economic recession as central banks across the world … Read more

Inflation in Turkey nears 80% as prices & wages soar

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Turkey
  • Consumer prices rose by 78.6% year-over-year in June, the fastest increase since 1998.
  • Inflation figures came days after Turkish government announced a 30% raise in minimum wage.
  • Goldman Sachs raised its inflation projection for the end of the year in Turkey from 65% to 75%.

Analysts warned that Turkey risks becoming locked in a spiral of rising prices and salaries as the country’s inflation rate reached nearly 80 percent.

As a result of President Recep Tayyip Erdogan’s unconventional monetary policy and the impact of the conflict in Ukraine, consumer prices increased by 78.6% year-over-year in June, the fastest increase since 1998.

The percentage was somewhat below the 80 percent consensus prediction of analysts.

Erdogan, who disputes the commonly held belief among economists that increasing interest rates reduces inflation, has instructed the central bank to maintain its benchmark borrowing rate well below the inflation rate.

Consequently, the lira has lost 48% of its value against the dollar during the past year. The currency depreciation has been a major factor in price increases in an import-dependent nation, particularly for energy.

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Asian shares wary as Wall Street prospects slip

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Asian

Asian shares are cautious as Wall St futures slip. Soft U.S. data suggests downside risks for this week’s June payrolls report. 10-year yields holding around 2.88% having fallen 61 basis points from their June peak. MSCI’s broadest index of Asia-Pacific shares outside Japan is up 0.3%. Investor demand for the most liquid safe haven has … Read more

2022 may bring more bad news for US markets after a poor first half

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US markets

Recession is the looming threat that investors have overlooked for months. Bank survey of clients to 4.11% in the recession predicting model of the New York Federal Reserve. The first six months were full of surprises, including inflation and largest selloff in bonds in decades. As per media sources, US markets are beginning to fear … Read more

European shares climb as investors rethink the likelihood of a rate hike

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European shares

Stoxx Europe 600 index was up 0.6% by early afternoon in London, following its first weekly rise in a month. FTSE 100 in London and the Xetra Dax in Frankfurt each gained 0.7%. Wall Street’s benchmark S&P 500 index will maintain its 3.1% gain on Friday and advance 0.5%. European shares and US stock futures … Read more

Tokyo shares close higher

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Tokyo shares

Tokyo stocks closed higher, boosted by Wall Street advances and rises in chip-related shares. The dollar fetched 134.79 yen in Asian trade, against 134.94 yen in New York. Japan’s core consumer prices rose 2.1 percent. Tokyo shares closed higher, boosted by Wall Street advances and rises in chip-related stocks. The Nikkei 225 index advanced 1.23 … Read more

Stocks and oil rally

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Stocks and oil

Global stock markets and oil prices rise on fears of a global recession. Analysts say investors now believe central banks may need to issue fewer severe interest rate hikes. Wall Street kept on rising on Friday, with all three major indices up over two percent in late morning trading. Following recent hefty losses, global Stocks … Read more

Wall Street Favors MicroStrategy Despite Crash

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Wall Street

MicroStrategy shares have dropped by 69 percent since the beginning of 2022. This is due to the fact that both tech stocks and Bitcoin have recently dropped in value. Despite this, three out of four Wall Street analysts remain bullish on MicroStrategy’s Bitcoin strategy. Despite the bad market, three out of four Wall Street analysts … Read more

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