alano design Consensus expectations are a bit too optimistic, and investors should continue to be conservatively positioned, said Wells Fargo strategist Scott Wren in a market commentary note. Earnings season results typically show that between 65-70% of companies beat their consensus expectations. But, for a few quarters since the Covid-19Continue Reading
selimaksan/E+ via Getty Images U.S. consumers dialed back their inflation expectations at the short- and longer-term horizons, though their medium-term expectations rose slightly, the Federal Reserve Bank of New York said Monday in its March Survey of Consumer Expectations. At the one- and five-year-ahead horizons, median implied inflation fell byContinue Reading
May Factory Orders: -0.5% to $583.1B vs. +0.2% consensus and +0.4% in April (revised down from +0.7%). Factory orders excluding transportation also fell –0.7%, compared with the 0.3% consensus and the 0.5% rise in the prior month, which was revised from +0.7%. Unfilled orders, up forty-six consecutive months, increased $3.1BContinue Reading
Tramino/iStock Unreleased via Getty Images Nikola (NASDAQ:NKLA) said through the HYLA brand, the firm has wholesaled 72 Class 8 Nikola hydrogen fuel cell trucks in Q2, crossing the high end of truck sales guidance of 60 units. “We have maintained our 2024 momentum with solid wholesale numbers, new customers suchContinue Reading
SCM Jeans Minutes of the Reserve Bank of Australia’s June policy meeting minutes revealed that policymakers stressed the need to remain vigilant about upside risks to inflation, adding that a material rise in prices could require significantly higher rates. The board is ready to raise rates if “inflation expectations” change.Continue Reading
Makhbubakhon Ismatova U.S. consumers lowered their inflation expectations for the year ahead, but maintained their inflation expectations at the five-year horizon, The University of Michigan said Friday in its Surveys of Consumers report. Year-ahead implied inflation: +3.0% vs. +3.3% initial print and +3.3% in May. Five-year implied inflation: +3.0% vs.Continue Reading
Nike (NYSE:NKE) shares are reversing a knee-jerk reaction higher and losing ground after remarks from the company’s CFO acknowledging macro challenges hinted to a guidance cut, and FQ4 revenue was worse than Wall Street expected. Shares are down 5%, dragging down Foot Locker (FL) by 3% in sympathy. The sportswearContinue Reading
SlavkoSereda/iStock via Getty Images Crude oil futures finished higher Monday, sparked by optimism over strong summer driving demand and the resurgence of geopolitical risk perception with rising tensions between Israel and Hezbollah, as prices continue to rebound from early June lows. After last week’s big drop in U.S. crude andContinue Reading
vandervliet93/iStock Editorial via Getty Images FedEx (NYSE:FDX) shares rose 1.42% in early morning trading on Monday, ahead of the company’s fiscal fourth-quarter results on June 25th, after the closing bell. On average, Wall Street expects the delivery services giant to post a quarterly EPS of $5.38 (+8.9% Y/Y) along withContinue Reading
