Tesla $TSLA forms its first Death Cross since May 2022
Source: barchart
The Fed said that a March rate cut is "unlikely," yet futures are still pricing in a 39% chance it happens
Even as the Fed said they cannot cut rates until inflation is comfortably moving to 2%, markets still see 6 cuts in 2024. There's even a growing 23% chance of 7 interest rate cuts this year. Markets are pricing in a rate cut at EVERY remaining Fed meeting this year. As highlighted by the Kobeissi Letter, if the Fed is on track for a "soft landing," why do we need to many rate cuts? Source: The Kobeissi Lette
In 1997, Apple lost $1 billion. Today? $1 billion in profit every 3 days.
Source: Jon Erlichman
Shares of Japanese bank Aozora are collapsing.
Stock's on steepest 2-day drop since it became a public company. Why? Bank reported massive exposure to US commercial real estate. Source: David Ingles, Bloomberg
Amazon on Thursday reported fourth-quarter results that sailed past analysts’ estimates, and gave strong guidance for the current quarter.
The stock climbed more than 8% in extended trading. $AMZN Amazon Q4 FY23: • Revenue +14% Y/Y to $170B ($3.7B beat). • Operating margin 8% (+2pp Y/Y). • FCF $37B TTM. AWS: • Revenue +13% Y/Y to $24.2B. • Operating margin 30% (+5pp Y/Y). Q1 FY24 Guidance: • Revenue ~$138-$143B ($142B expected).
Multiple small us banks tumbled high-single and double digits.
There is a silver lining though -> the market quickly remembered that it was precisely the bank crisis last March that sparked a powerful Fed response (BTFP), and a violent rally, and we got the same thing today as stocks slingshot sharply higher closing 1.1% higher... Source: www.zerohedge.com
BREAKING: Meta stock, $META, soars 13% after beating earnings expectations and announcing a quarterly dividend with a $50 billion stock buyback.
The stock has added $130 billion in market cap in just 15 minutes. For the first time in history, $META now has a market cap of $1.1 trillion. It is officially the 7th largest public company in the world. Source: Barchart, The Kobeissi Letter
Apple reported fiscal first-quarter earnings on Thursday that beat estimates for revenue and earnings, but Apple showed a 13% decline in sales in China, one of its most important markets.
Apple shares fell over 1% in extended trading. Here’s how Apple did $AAPL Apple Q1 FY24 in a nutshell: • Revenue +2% Y/Y to $119.6B ($1.3B beat). Services +11% Y/Y to $23.1B. Products +0% Y/Y to $96.5B. • Operating margin 34% (+3pp Y/Y). • EPS $2.18 ($0.07 beat). • $20.1B in buybacks and $3.8B in dividends. Source: App Economic Insights
