Paypal online payment company unveiled its earnings for the first quarter of 2021 on Wednesday, marking an astonishing surge of GAAP earnings per share of 1200% to $0.92, compared to the same period of last year. The net revenue was up 29% to a total of $6.03 billion, year on year. The company described the fiscal period as the strongest first-quarter results in Paypal’s history with an operating income of $1.04 billion, which is 162% higher than in the comparable period of last year. “Our strong first-quarter results demonstrate sustained momentum in our business as the world shifts into the digital economy. Our addressable market continues to grow as we launch new products and services for our 392 million active accounts,” said Dan Schulman, Paypal’s CEO. The company’s shares grew by 3.68% in the after-hours trading following the earnings report. Nick Note: The peoples INTERNET SHOPPING bank. And people are spending money like their is not tomorrow. Its a orgy our their and corporate America WILL BE cashing in big time. You ain’t seeN nothing yet….. BUY YOU WILL!
KFC seeks to fill 20,000 job positions across US
https://youtu.be/0KPc6HgTInA
Yum! Brands’ KFC announced on Wednesday the company plans to employ 20,000 new workers to meet increased demand in its restaurants across the United States. KFC revealed it is looking to hire cooks, restaurant management, customer service, shift supervisors as well as assistant managers to fill both part-time and full-time positions. The statement comes a week after the Centers for Disease Control and Prevention relaxed mask requirements for people vaccinated against the COVID-19, with inoculated people not having to wear a mask in outside dining areas.
GM Q1 revenue at $32.5 billion
General Motors Co. announced on Wednesday that the company’s net revenue for the first quarter of the fiscal year was $32.5 billion. The company’s diluted earnings per share for the quarter was $2.03, a significant increase from the same period last year where the diluted EPS was $0.17. The net income for this period amounted to $3.02 billion, an increase of $2.7 billion year-over-year. GM Chairman and CEO Mary Barra stated: “These strong results demonstrate once again the underlying strength of our business, especially in North America and China, and at GM Financial. We continue to execute our strategy and make significant progress on our transition to an all-electric future with the growth opportunities it creates.” Nick Note: another earnings report that far exceeds expectations.
US private payrolls up by 742,000 in April – ADP
The number of jobs in the United States private sector increased by 742,000 in April compared to the previous month, below analyst’s expectations, data in the ADP National Employment Report showed on Wednesday. Employment in large businesses contributed the most to the increase in April with 277,000 new jobs added. At the same time, midsized and small businesses added 230,000 and 235,000 new jobs respectively. The services-providing sector once again recorded the largest increase with 636,000 new jobs, while the goods-producing sector added 106,000 jobs. ADP’s chief economist Nela Richardson commented on the report saying: “Service providers have the most to gain as the economy reopens, recovers, and resumes normal activities and are leading job growth in April. While payrolls are still more than 8 million jobs short of pre-COVID-19 levels, job gains have totaled 1.3 million in the last two months after adding only about 1 million jobs over the course of the previous five months.” Nick Note: This bodes well for the unemployment report. This is something that could be a market mover.
US service sector activity expands at record pace in April
Activity in the service sector in the United States expanded at a record pace in April, according to the latest release from IHS Markit published on Wednesday.
The seasonally adjusted final IHS Markit US Services PMI Business Activity Index was reported at 64.7 in April, up from the 60.4 registered in March and above the previously announced flash estimated.
Commenting on the latest survey results, Chief Business Economist at IHS Markit Chris Williamson said that vaccine rollouts coupled with accommodative monetary policy and fiscal stimulus have led to the “strongest surge in demand seen for at least a decade.” However, the biggest threat to the outlook remain new strains of the coronavirus which could hinder growth “for some time to come,” according to Williamson.
Fed’s Williams: US GDP to grow 7% in 2021
US To Grow 7% This Year, Fastest Since 1980s: Fed’s Williams
The US economy is likely to expand by seven percent this year as it bounces back from the Covid-19 pandemic, its fastest rate since the early 1980s, a top Federal Reserve official said on Monday. However, the world’s largest economy still “has a long way to go” and needs to see several months of strong employment growth to achieve a full recovery, said John Williams, president of the Fed’s New York branch. Williams also joined Fed Chair Jerome Powell’s efforts to fend off concerns about rising prices leading to an inflationary spiral, and cautioned against reading too much into short-term data. He said he expects to see “real GDP increasing around seven percent this year,” calling it “welcome progress after the toughest period for the economy in living memory.” “While I am optimistic that the economy is now headed in the right direction, we still have a long way to go to achieve a robust and full economic recovery,” Williams said in a speech to be delivered to the Women in Housing and Finance annual conference, noting stronger employment growth would be needed to make the bounceback complete. He credited the Fed’s stimulative policies, including interest rates near zero, with having “positive effects” on the economy, enabling Americans to purchase homes and big-ticket goods. “In fact, with accommodative financial conditions, strong fiscal support and widespread vaccinations, I expect that the rate of economic growth this year will be the fastest that we’ve experienced since the early 1980s,” he said. Rising energy prices and the rebound from the pandemic downturn are pushing prices higher, but “it’s important not to overreact to this volatility in prices resulting from the unique circumstances of the pandemic,” Williams said. He projected inflation will fall back to the central bank’s two percent target in 2022 “once the price reversals and short-run imbalances from the economy reopening have played out.” Powell last week made the same point as he tried again to quell rising concern among investors and some economists, saying there is a difference between “one-time price increases” and a persistent rise in inflation. In a speech Monday, Powell also noted that the US economic outlook had “clearly brightened” but cautioned that “we’re not out of the woods yet.” He stressed that the pain of the economic crisis has hurt lower income workers most, and Black and Hispanic workers suffered larger job losses. “The Fed is focused on these long-standing disparities because they weigh on the productive capacity of our economy,” Powell said in a speech to a community development group. “We will only reach our full potential when everyone can contribute to, and share in, the benefits of prosperity.” Williams noted that the economy added 900,000 jobs in March, and said, “I am hopeful that we will see very strong job gains over coming months as the economy continues to reopen.” The Labor Department is due to release the jobs report for April on Friday, and the median forecast is for the United States to add one million jobs. “But, even with the gains that have occurred, let’s not forget that there are about eight and a half million fewer jobs today than before the pandemic,” Williams said. Meanwhile, conditions so far are not enough for the Fed to alter policy, he said, echoing the decision of the central bank’s policy-setting Federal Open Markets Committee last week. Nick Note: This is the START of the greatest recovery ever!
US and European stocks reverse losses as Yellen signals inflation won’t hurt recovery and commodities rally
- US and European stocks recovered on Tuesday after a switch in Janet Yellen’s tone.
- She assured markets a rate hike is neither something she was predicting nor recommending.
- Surging commodity prices pushed UK mining stocks higher, lifted by recovery sentiment.
US stocks rose slightly on Wednesday after Treasury Secretary Janet Yellen said she doesn’t expect inflation to be a problem, underplaying previous comments that it may be necessary to raise interest rates to prevent economic overheating. Futures on the Dow Jones, S&P 500, and Nasdaq rose 0.3%, suggesting a higher start to trading at the market open. Yellen’s remarks the previous day were likely about longer-term rates, rather than breaking historic convention and commenting on monetary policy, Deutsche Bank strategists said. She also seemed to project the Fed has the necessary tools to address inflation if it were to occur. But her initial comments prompted a sell-off in tech shares and sent longer-dated Treasury yields higher.”So it seems like a small matter-of-fact statement has been magnified around financial markets, which just shows how sensitive we all are to rates and inflation,” Deutsche’s strategists said. A decline in large-cap Wall Street tech darlings led the Nasdaq 1.6% lower at Tuesday’s close as investors dumped their shares on concerns of rising interest rates. With the S&P 500 around 1% away from record highs, UBS Global Wealth Management says plenty of good news is priced into the market, suggesting stocks are potentially vulnerable to disappointments.
Chief investment officer Mark Haefele said such worries can continue to be seen as a source of volatility rather than developments that are likely to end the equity rally.
“Investors can brace for future bouts of volatility through diversification, and use market swings as an opportunity to build long-term exposure,” he said “We believe the backdrop of accelerating growth and continuing policy support means that markets can advance further.” Investors in Europe initially took their cue from the weakness across the US market, but those losses reversed with another busy start to corporate earnings and a burst higher in the commodities complex. Results from car manufacturer Stellantis, insulin-maker Novo Nordisk, and Danish shipping company AP Moller-Maersk are due. Surging commodity prices pushed up mining stocks in the region, as recovery sentiment lifted. UK mining stocks including Rio Tinto, BHP, and Anglo American each rose about 2% alongside copper prices rising past $10,000 a tonne for the first time in years. London’s FTSE 100 rose 1%, the Euro Stoxx 50 rose 1.3%, and Frankfurt’s DAX gained 1.4%. Asian shares were largely muted as markets in China, Japan, and South Korea are still closed for public holidays. Hong Kong’s Hang Seng fell 0.5%, led by weakness in the tech sector. Oil prices climbed against the backdrop of easing lockdowns in the US and Europe. Brent crude futures rose 3%, to $69.70 per barrel, and West Texas Intermediate rose 1.1%, to $66.45 per barrel. Nick Note: screw these silly asshole. They cannot get into their pea brains how big these recovery WILL BE. Thats good more money for you and me,,,,,
Despite Despite the sell-off, the markets are poised for new highs by summer
NB: Watch and learn. Theoretically the market should be a 50/50 propitiation. You make a trade to the upside or the downside. Their is no other possible outcome. The market either goes up or it goes down. So that begs the question is why do 80% of the people who trade are losers. And why is it its the same group of winners? The answer is so simple it makes you want to cry. Its the swings the market does not go straight up or straight down. And you are not going to be to successful trade the swings. To make money you have to understand in the course of a trade bases your OTE you will be making and losing money. You need to have enough of a cushion to survive the swings. As you are seeing we do a pretty good job of anticipating the swings and you need to adjust your positions so you can stand those swings. We anticipated yesterdays plunge and asked you to increase your cushion. We anticipated by whatever excuse the market would use a test the 100 day moving average line. I know its hell watching paper profits disappear but that is the game. You have to hold through the swings, Its impossible to trade them. If you push through and our fundamental analysis is right you should make money. And as we both know our analysis has been spot in. Bottom line yesterday was a speed bump and our analysis convinces us that new record highs in stocks will soon happen….
Fed has “powerful tools” in case of high inflation – Kashkari
Neel Kashkari head of the Federal Reserve Bank in Minneapolis puts out fire Janet Yellen started
- says Fed doesn’t want to cut off recovery prematurely
- says if raise taxes to pay for new spending, that won’t be inflationary
- not concerned that fiscal packages so far will create inflation
- once the labour market is recovered, inflation back to target, will normalize monetary policy
- full employment may take a few years
The president of the Federal Reserve Bank of Minneapolis, Neel Kashkari,said that the bank has “powerful tools” to push inflation down in case it surprises higher. Kashkari says he is not indicating hikes any time soon. He told CNN that the bank will normalize its monetary policy once the labour market is recovered, adding that the Fed doesn’t want to cut off recovery prematurely which is in line with the bank’s goal to, not only restart the economy but also avoid the virus flaring back up and potentially taking back all the progress that was made. With the rescue packages approved by global economies and the pent-up consumer demand, which is expected to drive prices up, worries remain that the lack of policy adjustments could lead to halting the overall economic recovery from the health crisis. Nick Note: the fire storm MSSS Idiot started yesterday in the stock market will be quickly reversed…. Of course we saw this mini correction coming and so stated. AND WE HAD YOU PREPARED! NEWS FLASH!!! NO MARKET GOES STRAIGHT UP NOR STRAIGHT DOWN. You have to be able to withstand the market swings against your positions
T-Mobile’s Q1 revenue jumps 78% to $19.76B
American wireless network operator T-Mobile US, Inc. beat analyst expectations on Tuesday with the company’s first-quarter results, having reported its revenue jumped 78% on the year to $19.76 billion. Meanwhile, the company unveiled earnings per share of $0.74 during the same three-month period, down from the $1.10 reported in the first quarter of 2020. Net customer additions were reported at 1.4 million increasing T-Mobile’s total customer count to a record-high of 103.4 million. “We just keep pushing further ahead of the competition. Our network leadership is fueling customer momentum, delivering merger synergies and expanding our addressable markets for growth. We have so much confidence that we are raising 2021 guidance just one quarter into the year,” the company’s CEO Mike Sievert said. T-Mobile jumped 2.35% to $131.50 per share in after-hours trading following the update. Nick Note: Astonishing profits……..