Podcast Summary
Fed Chair Powell lowers odds of March rate cut: Powell's comments on 60 Minutes lowered the odds of a March rate cut from 40% to 15%. He emphasized the importance of a strong economy and expressed concerns about inflation and potential recession.
Federal Reserve Chair Jerome Powell's comments on 60 Minutes over the weekend have lowered the odds of a rate cut in March from 40% to 15%. Powell emphasized the importance of a strong labor market and a strong economy, and expressed concerns about both inflation and the potential for a recession if rates are cut too late. Meanwhile, Snap reportedly began laying off employees on Friday, and more layoffs are expected as the company prepares to report earnings on Tuesday. Despite the upcoming presidential election, Powell assured that the Fed's decisions are based on economic data rather than politics.
Deutsche Bank upgrades Snap to buy, Palantir earnings today, Record highs for major indices: Deutsche Bank upgraded Snap to a buy rating, Palantir earnings anticipated, Major indices closed at new record highs, Crude oil down, Bitcoin up, Other companies like Alibaba, PepsiCo, Disney, Mcdonald's, Ford, and Shopify reporting earnings, Potential bounce for a restaurant stock
Deutsche Bank upgraded Snap to a buy rating with a $19 price target, citing better advertising trends, the growth of Snapchat Plus, and the partnership with Amazon. Meanwhile, investors are keeping an eye on Palantir Technologies, which is set to report Q4 earnings today. Analysts anticipate robust numbers from Palantir's commercial division, but overall growth may lag behind rivals due to challenges in its US government, international government, and international commercial businesses. In the markets, the major indices closed at new record highs on Friday despite a stronger-than-expected jobs report, while the Dow, S&P 500, and Nasdaq all saw gains. However, markets are down slightly in early trading today, with the Dow down 0.2%, the S&P 500 down 0.1%, and the Nasdaq down 0.1%. Crude oil is down 0.6%, and Bitcoin is up 0.1%. Other companies to watch this earnings week include Alibaba, PepsiCo, Disney, Mcdonald's, and Ford. Additionally, Shopify may be making AI a reality for e-commerce, and there's a potential near-term bounce for a restaurant stock.
FTSE 100 and DAX gain modestly, NanoString Technologies files for bankruptcy: The FTSE 100 and DAX are seeing slight increases, but NanoString Technologies filed for bankruptcy protection, causing significant losses for the company.
The FTSE 100 and DAX are experiencing modest gains in the world markets today, with the FTSE 100 up 0.4% and the DAX up 0.2%. However, one of our biggest movers of the day, NanoString Technologies (NSTG), saw significant losses after the company and certain subsidiaries initiated a chapter 11 restructuring proceeding in the United States bankruptcy court for the District of Delaware. This means that NSTG is filing for bankruptcy protection. On the economic calendar, Atlanta Federal Reserve Bank president Rafael Bostic will be giving welcome remarks at 2 PM regarding the uneven outcomes in the labor market. It's important for investors to stay informed about market movements and economic events, and Seeking Alpha is a great resource for real-time information and discussion on stocks and ETFs. Join our community of investors to stay ahead of the curve.