June low not the ‘final move’ for bear market Morgan Stanley’s Mike Wilson, who correctly called the stock market’s 2022 swoon, isn’t convinced the lows are in after major U.S. indexes scored a big gain following Wednesday’s Federal Reserve decision to raise rates by another 75 basis points, or three-quarters of a percentage point, to …
Continue reading “Stock market’s post-Fed bounce is a ‘trap’, warns Morgan Stanley’s Mike Wilson”
Intel Corporation revealed on Thursday that its revenue in the second quarter of 2022 reached $15.3 billion, plummeting by 22% from the same time span a year earlier, below the market expectations. Diluted earnings per share (EPS) dropped by 109% year over year to $0.11 in the second trimester, with the net income also falling …
(Bloomberg) — The drumbeat of recession grew louder after the US economy shrank for a second straight quarter, as decades-high inflation undercut consumer spending and Federal Reserve interest-rate hikes stymied businesses and housing. Gross domestic product fell at a 0.9% annualized rate after a 1.6% decline in the first three months of the year, the …
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Chair Jerome Powell said the Federal Reserve will press on with the steepest tightening of monetary policy in a generation to curb surging inflation, while handing officials more flexibility on coming moves amid signs of a broadening economic slowdown. Policy makers again raised the benchmark US interest rate 75 basis points on Wednesday to …
Continue reading “Powell Signals More Fed Hikes Coming, Leaves Out Details This Time”
McDonald’s Corp (NYSE: MCD) reported a second-quarter FY22 sales decline of 3% year-on-year to $5.72 billion, missing the consensus of $5.82 billion. Global comparable sales rose 9.7%, with a 3.7% growth in the U.S. Systemwide sales increased 4%. Digital Systemwide sales in the company’s top six markets exceeded $6 billion, representing nearly a third of total Systemwide sales. Sales …
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See the interview… Talk about putting perfume on a skunk! Boeing Co. reported a smaller second-quarter profit that fell short of Wall Street expectations as its defense business weakened and it remained unable to deliver any of its 787 Dreamliner planes. The giant aircraft manufacturer reported a profit of $193 million Wednesday, down 67% from …
Fed funds rate well below inflation weakens odds of a pause Bank has doubts that profit forecasts are realistic, too The July stock-market rebound has emboldened bulls hoping prices will defy the gravity of the Federal Reserve’s escalating fight against inflation.Don’t be fooled, though, Morgan Stanley Wealth Management’s Lisa Shalett said: It’s just another false …
Continue reading “Morgan Stanley Warns Stock Bulls Deluded by ‘Wishful Thinking’…… REPRINT!”
Alphabet Inc. reported on Tuesday that its diluted earnings per share (EPS) for the second quarter of fiscal 2022 stood at $1.21, a figure 11% lower compared to the same period a year ago. Revenues in the second trimester jumped 13% year over year to $69.7 billion, while net income came in at $16 billion …
US consumer confidence fell for the third month in a row in July as Americans continue to feel the pinch of inflation and worry about the spectre of a possible recession. The drop in the Conference Board Consumer Confidence Index in July followed a larger decline in June. The Index now stands at 95.7, down …
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https://youtu.be/oWeBawdOUQM We’re being warned about a dramatic increase in the COVID death rate; now ten times worse than it was with the original strain. We’ve almost hit one million new cases in the past month as the burden on the health system takes its toll. We’re being warned about a dramatic increase in the covid …