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us consumer confidence plummets as inflation fears weigh on economy
US consumer confidence has plummeted, with the University of Michigan index dropping to 64.7, its lowest in 15 months, amid rising inflation fears. Consumer spending has also declined, and the PMI Services index fell to 49.7, indicating potential contraction in the services sector. The Atlanta Fed has sharply revised its growth forecast for Q1 from +2.3% to -1.5%, reflecting growing concerns about the US economy's trajectory.
stock futures steady as investors await economic data and earnings reports
Stock futures showed little movement as investors brace for a week filled with significant economic data and the start of earnings season. Dow futures rose slightly, while S&P 500 and Nasdaq futures dipped. Key reports on inflation and major bank earnings are anticipated, following a strong jobs report that raised concerns about the Federal Reserve's interest rate strategy.
This week, major banks including JPMorgan Chase, Goldman Sachs, and Bank of America are set to report earnings, alongside tech and healthcare firms like Taiwan Semiconductor Manufacturing Company and UnitedHealth Group. Key economic indicators such as the Consumer Price Index and Producer Price Index will be released, providing insights into inflation trends, while several Federal Reserve officials are scheduled to speak ahead of the upcoming monetary policy meeting.
stock markets pause for funeral of former president jimmy carter
Stock markets will halt trading on Thursday in honor of former President Jimmy Carter, who passed away at 100. His presidency (1977-80) was marked by significant events, including the Iran Hostage Crisis, and he later became known for his humanitarian efforts.On Friday, the U.S. Bureau of Labor Statistics will release the Employment Situation report, with expectations of 155K jobs added in December and an unemployment rate steady at 4.2%. This report is crucial for the Federal Reserve's monetary policy considerations, especially amid concerns about the incoming administration's economic impact.
us stock futures steady as tech gains drive wall street higher
U.S. stock index futures remained steady following a strong week for Wall Street, driven by technology stocks. Investors are anticipating key jobs data and Federal Reserve meeting minutes, with December employment expected to show an addition of 154,000 jobs and an unemployment rate steady at 4.2%. Tech stocks rebounded, with notable gains from NVIDIA and Tesla, as the market looks ahead to a potentially positive 2025.
markets brace for shortened week with key economic data and earnings reports
Financial markets will close Thursday for the funeral of former President Jimmy Carter, leading to a shortened trading week. Key data releases include the December jobs report on Friday, FOMC meeting minutes on Wednesday, and various corporate earnings reports, notably from Delta Air Lines and Walgreens Boots Alliance. Investors will also focus on private-sector employment data and consumer sentiment updates throughout the week.
Salesforce ranks among top stocks for AI growth amid market fluctuations
Salesforce, Inc. (CRM) has been included in UBS’ list of top stocks for the AI, growth, and low rates era as the market evolves post-pandemic. Following a significant interest rate cut by the Federal Reserve, major indexes saw gains, although recent turbulence has raised concerns about the pace of future cuts amid rising Treasury yields. The division among Federal Reserve officials regarding rate adjustments adds to the uncertainty in the market outlook.
exxon mobil named among top stocks for ai growth and low rates era
Exxon Mobil (XOM) has been included in UBS' list of top stocks for the AI, growth, and low rates era, reflecting its resilience amid evolving market dynamics. Following a significant interest rate cut by the Federal Reserve, major US stock indexes experienced a brief surge, although recent turbulence has raised concerns about the pace of future rate adjustments. Investors are closely monitoring the differing views among Federal Reserve officials regarding monetary policy, which could impact market stability.
bank of america named among top stocks for ai growth and low rates
Bank of America (BAC) has been included in UBS' list of top stocks for the AI, growth, and low rates era, reflecting a shift in market dynamics since the pandemic. Following a significant interest rate cut by the Federal Reserve, major indexes saw gains, although recent turbulence has raised concerns about the pace of future cuts amid rising Treasury yields. The outlook remains cautious as policymakers express differing views on monetary policy adjustments.
microsoft named among top stocks for ai growth and low rates era
Microsoft Corporation (MSFT) has been included in UBS’ list of top stocks for the AI, growth, and low rates era, reflecting the ongoing evolution of the stock market since the pandemic. Following a significant interest rate cut by the Federal Reserve, major indexes like the S&P and NASDAQ saw gains, although recent turbulence has emerged due to concerns over the pace of future rate cuts and rising Treasury yields. The market remains cautious as policymakers express differing views on monetary policy direction.
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