Stock market today

Share to Twitter Share to Linkedin Friday’s amazing job numbers — which continue to hit it out of the park — mean that no matter how often Wall Street talks itself into a Fed rate pause, it’s not going to happen any time soon. Barring a crash in commodity prices, inflation will need to fall to 5% before the Fed hits the brakes. “The fed will hate this set of numbers,” says Brian McCarthy, head of investment research firm Macrolens in Stamford, Conn. “January payrolls are always wonky due to annual revisions and an extreme seasonal adjustment, but with both hourly earnings and hours worked also looking much more robust than we were led to believe last month, there is no denying a picture of continued strength in the labor market, which is at odds with a gathering stream of layoff announcements.” The Federal Reserve already raised interest rates a quarter-point this week, its eighth hike since March . Those hikes, of course, could help slow the economy. … [Read more...] about Strong Labor Market Lends Itself To More Fed Hikes, But Not For Long

Share to Twitter Share to Linkedin Topline Starbucks’ stock slid Thursday afternoon after the company missed its quarterly revenue estimate, in part because of an immense drop in sales across China as the country grappled with tight lockdowns followed by a renewed surge in the spread of the virus, resulting in reduced commerce that hurt retail businesses across the country—one of Starbucks’ largest markets. Key Facts The company reported $8.71 billion in quarterly revenue, setting a new record but falling short of Wall Street’s $8.78 billion estimate. Sales in North America rose 10% but tumbled 13% internationally, largely due to an eye-popping 28% decline in China. Starbucks also missed on earnings per share, reporting 75 cents after analysts expected 77 cents. The company’s share price declined more than 3% in after-hours trading to $105.81. Crucial Quote “We posted today’s strong results despite challenging global consumer … [Read more...] about Starbucks Stock Drops After Massive Decline In China Sales

Adani group's stocks have nosedived after the Hindenburg report's release Amid massive stock rout for almost a week in most of Adani group stocks, the National Stock Exchange (NSE) has put Adani Enterprises , Adani Ports and Ambuja Cements under additional surveillance measure (ASM) framework effective February 3, 2023 to curb short-selling. NSE, in its circular released on February 2, noted that applicable rate of margin shall be 50 percent or existing margin, whichever is higher, subject to maximum rate of margin capped at 100 percent w.e.f. February 6, 2023 on all open positions as on February 3 and new positions created from February 6. The ASM list is a list of securities that get monitored due to factors like price fluctuation, volatility, volume variance, etc. Stocks that are shortlisted for inclusion on the ASM list serve as a warning to investors about unusual price movement. There are certain trading restrictions on these stocks to put an end to any potential … [Read more...] about NSE puts Adani Enterprises, Adani Ports, Ambuja Cements under ASM framework amid stock rout

The Adani group lost over $100 billion after Hindenburg Research's investigation. Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Traders who had taken a position on Adani Group stocks in the futures and options (F&O) market on February 3 had a tough day managing the volatility as the stocks saw a roller coaster ride. Initially, as Adani Enterprises plunged 35 percent, traders shifted their position to 1,000 and 1,100 strikes, especially call writers. However, a swift and sharp recovery created a squeeze for them. Bars reflect change in OI during the day. Red bars show call option OI and green put option OI. As of the close of the market, put writers maintained their position deep out-of-the-money options with the highest fresh put writing at 1,200 strike. A part of this could also be due to hedging by traders. 1,500 … [Read more...] about Adani stocks continue to unnerve traders; set up still weak for Adani Enterprises

File image of Gautam Adani (Image Source: Reuters) One of Adani Group’s international partners, the French energy giant TotalEnergies SE, said on February 3 that it welcomes the announcement of the Adani Group to mandate one of the big four accounting firms to carry out a general audit. Business news agency Bloomberg reported there was no corresponding announcement confirming the development on the Adani Group's website, and the company didn't immediately respond to a request for comment. The sobriquet Big 4 refers to Deloitte LLP, Ernst & Young LLP, KPMG LLP and PwC. TotalEnergies holds the distinction of being one of the biggest energy companies in the world and is a partner to the Adani Group in four joint ventures in India. Earlier, on January 24, the financial research firm Hindenburg Research released an explosive report accusing the Adani Group of engaging in brazen stock manipulation, and accounting fraud and dubbing the operations of the group as “the largest … [Read more...] about Adani Group will hire a Big 4 auditor: French partner TotalEnergies SE

Share to Twitter Share to Linkedin Exxon Mobil reported a record profit for 2022. Other energy companies are also expected to do well on the back of high prices and strong demand. During the third quarter, gurus loaded up on Chevron CVX , Valvoline VVV , ConocoPhillips COP , Occidental and Halliburton HAL . Bolstered by high prices and soaring demand, oil and gas majors are expected to break their annual earnings records. On Tuesday, Exxon Mobil Corp. ( XOM , Financial ) did just that when it posted a $56 billion profit for 2022. According to Reuters, this not only set a company record, but was a historic high for the Western oil industry. The Irving, Texas-based company’s previous record, from 2008, was a $45.2 billion net profit, when oil hit $142 per barrel. Despite earnings taking a $1.3 billion hit from a European Union windfall tax and asset impairments, last year’s earnings also got a boost from cost cuts that were … [Read more...] about 5 Energy Stocks Gurus Are Drilling Into

Share to Twitter Share to Linkedin In late January Chevron CVX announced fourth quarter and full year 2022 results. Chevron earned a record $36.5 billion profit in 2022, more than doubling 2021 earnings. In addition, Chevron increased its quarterly dividend by 6%, and announced a $75 billion stock buyback : “The Board also authorized the repurchase of the company’s shares of common stock in an aggregate amount of $75 billion. The $75 billion authorization takes effect on April 1, 2023, and does not have a fixed expiration date. It replaces the Board’s previous repurchase authorization of $25 billion from January 2019, which will terminate on March 31, 2023, after the completion of the company’s repurchases in the first quarter 2023.” The Biden Administration Responds This stock buyback announcement got immediate attention from the Biden Administration. In a series of tweets, White House spokesperson Abdullah Hasan wrote: and … [Read more...] about If Chevron Can Sell Shares, Why Can’t They Buy Them Back?

Share to Twitter Share to Linkedin Key Takeaways Disappointing Tech Earnings Strong Jobs Report Can Markets Continue To Rally? Markets have staged an impressive rally so far this year. This week alone through Thursday, the S&P 500 is up 2% while the Nasdaq 100 is up 5%. The lone laggard has been the Dow Jones Industrial Average, which is flat on the week. What’s interesting to note here is that the Dow, while at one time a good barometer for markets, has since become an antiquated gauge largely because of how it is weighted. However, disappointing earnings from Alphabet, Amazon AMZN and Apple AAPL along with a much stronger than expected jobs report could put pressure on all indices. Much of the strength in tech stocks this week came following impressive earnings from Facebook parent, Meta. After a better than expected earnings report Wednesday, the stock rallied 23%, its biggest single day percentage gain since 2013. The … [Read more...] about Disappointing Earnings From Alphabet, Amazon And Apple

Adani group Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Fitch Ratings says there is no immediate impact on the ratings of the Fitch-rated Adani entities and their securities following the Hindenburg Research report alleging malpractices at India’s Adani group, and expects no material changes to its forecast cash flow. There are also no near-term significant offshore bond maturities – earliest in June 2024 for Adani Ports and Special Economic Zone Limited (APSEZ, BBB-/Stable); December 2024 for Adani Green Energy Limited Restricted Group 1 (AGEL RG1, BB+/Stable); and 2026 or beyond for all other entities – reducing refinancing risks and near-term liquidity risks. “Our ongoing monitoring will be looking closely at any major changes to the rated entities’ access to financing or cost of financing on a long-term basis, … [Read more...] about No immediate impact on Adani entities’ credit profiles from Hindenburg report: Fitch Ratings

Share to Twitter Share to Linkedin The U.K. financial system nearly broke this autumn when rising interest rates created a vicious circle of margin calls driving the stock market into free fall and with it a cycle of rising interest rates driving bond yields up causing further margin calls to the pension fund institutions. This kind of hidden danger is just what causes crashes. Pension funds had levered their government bond portfolios to the roof to reach for higher returns. Back in the day these same funds had been squeezed by the regulator out of stocks and into bonds so as not to add too much risk to their funds and get into exactly the vicious circle they now found themselves in by turning safe bonds into mountains of dangerous leverage. What irony! Well, not really. The thing is this, who is going to buy the bonds of a country up to its ears in debt with an out of whack fiscal deficit heading into a recession, let alone buy the bonds of a … [Read more...] about FTSE 100 Break Out Preempts Bank Of England Surrender To Inflation