MARKETS Fed Chair Jerome Powell Expects Large September Rate Hike as the Fed is under continuing pressure for another 75 basis-point interest rate hike at its upcoming meeting next month as data on Friday showed job gains despite high inflation and rising costs. The Federal Reserve’s anti-inflation measures appear likely to drive higher unemployment that … Read more
GOVERNMENT REPORT SERIES U.S. employers added 528,000 jobs in July, the Labor Department said on Friday, an unexpectedly strong gain that shows the labor market is withstanding the economic impact of higher interest rates, at least so far. “There’s a feeling that the labor market is moving back into balance,” Jerome H. Powell, the Fed … Read more
MARKETS Wall Street lowered its consensus bottom-up EPS estimate by 2.5% from June 30 to July 28. During the past five years – or 20 quarters – the average decline in the bottom-up EPS estimate during the first month of a quarter has been 1.3%. As economic data continues to shows signs of slowing … Read more
MARKETS Federal Reserve Chair Jerome Powell said in a statement last week following the U.S. central bank’s decision to bump up interest rates another 75 basis points that the labor market is “moving back into balance” and is only at “the beginning of an adjustment” rather than weakening. Index Savers (AAPL) and Amazon (AMZN) helped … Read more
MARKETS The Federal Reserve raised its benchmark overnight interest rate by three-quarters of a percentage point on Wednesday in an effort to curb high inflation. Powell said, “Restoring price stability is just something we got to do, and there isn’t an option to fail to do that.” Hw went to say they will not relent … Read more
MARKETS Through July 22nd, Q2 results for S&P 500 Companies … 106 companies (21% of the index’s total membership) Total earnings for these companies are down -6.9% on +7.2% higher revenues. 72% beating EPS estimates 63% beating revenue estimates.
MARKETS Today software services are driving Weekly index gains as Quarterly profits are beating Wall Street expectations. Last week Goldman Sachs lead earning leaders as the Financial Sector looks poised to support the recovery story. Consumer Price Index data is key Consumers rose 1.3 percent, seasonally adjusted, and rose 9.1 percent over the last 12 … Read more