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Market News

Location American Market News for 1 August 2023
Shares of Merck are down roughly 4% this year, with a market value of roughly $270 billion, making it the third largest pharmaceutical company based in the U.S.
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The Fading 'War Windfall': BP Sees 70% Drop In Profits But Hikes Dividend Supermajor joins its energy peers in posting markedly lower quarterly profits but hikes its dividend pay out by over 10%.
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Update: GLDD, August 1

Forbes - 1 Aug 2023 23:34
Update: GLDD, August 1 Shares of Great Lakes Dredge & Dock (GLDD) popped more than 12% today after the company reported very favorable Q2 results this morning. Specifically, while
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S&P 500 Slips Lower After a Strong July

Wall Street Journal - 1 Aug 2023 22:30
Shares of Caterpillar and Arista Networks advanced after their earnings reports.
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China's Covid Catastrophe: (5) The Unvaxxed Elderly Are A Deadly 'Accelerant' The huge number of unvaccinated elderly Chinese will drive death tolls much higher - along with the strange halt in vaccination efforts before the end of zero-Covid.
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Recession Likelihood Has Plummeted; Even Higher Interest Rates Coming The likelihood of a recession has plummeted from 73% to just 15%, and the FOMC will likely continue raising interest rates--likely pushing mortgage rates up even more.
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Joe Biden's Split Personality On Energy Project Permitting The Biden Administration has proposed a new rule to amend the National Environmental Policy Act (NEPA) regulations.
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Judge This Fund By Its Holdings, Not Its Methodology Despite a seemingly sound investment methodology, analyzing the fund's holdings reveals a portfolio that is inferior to its benchmark.
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It Might Not Be Quitting Time Yet for the Fed's Rate Hawks

Wall Street Journal - 1 Aug 2023 18:29
Workers in some sectors are still leaving jobs at a higher rate than before the pandemic in a sign that the job-market realignment continues.
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Portability of brokers: Succour for investors?

livemint.com - 1 Aug 2023 18:23
Portability of brokers: Succour for investors? Broker default episodes, when there is no broker portability, is marked by forced liquidations that creates risk exposures and eliminates potential risk-taking market participants who are capable of tolerating market ris...
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Uber Got a Bit Too Revved Up

Wall Street Journal - 1 Aug 2023 18:23
The ride-hailing company's road to actual profits has been a long one, but investors still got there early.
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Funding winter, illiquid startups and Sebi rules hamper AIF exits High net worth investors at risk as AIFs face redemption pressure but Sebi rules do not permit easy liquidation.
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Margin Expansion To Drive Johnson Controls' Q3? We expect the company's revenues to come in at $7.2 billion, aligning with the consensus estimate.
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Carvana Stock Up 892%, Redditors Cheer As Shorts Get Squeezed Carvana stock has had a nice run so far in 2023 -- soaring 892%.
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A Strong Vegas Business And Recovery In Macau Will Drive MGM's Q2 Results MGM Resorts is expected to publish its Q2 2023 results on August 2, reporting on a quarter that is likely to see stronger business at the company's Las Vegas propertie...
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Is a Stronger Yen Lurking Around the Corner?

Wall Street Journal - 1 Aug 2023 15:00
The Bank of Japan's surprising tweak to its monetary policy injects more uncertainty into the yen's trajectory.
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The Anomaly of High US Profit Margins and a Tight Labor Market One issue that has received little attention is why U.S. corporate profit margins have stayed high even as interest rates and wage increases accelerated in 2022.
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Pfizer is in a transition period as it pivots away from its blockbuster Covid vaccine and drug Paxlovid while the world emerges from the pandemic.
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Higher Costs To Weigh On CVS Health's Q2?

Forbes - 1 Aug 2023 14:00
Higher Costs To Weigh On CVS Health's Q2? Earnings will likely come in at about $2.10 on a per-share and adjusted basis, nearly matching the $2.11 consensus estimate.
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JetBlue Airways slashed its 2023 outlook and warned of a potential loss in the current quarter.
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Shares of Uber rose 4% in premarket trading Tuesday after the company reported second-quarter results that missed analysts' expectations for revenue but offered rosy guidance.
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What To Expect From AMD's Q2 Results?

Forbes - 1 Aug 2023 13:00
What To Expect From AMD's Q2 Results? We project that earnings will come in at about $0.53 per share, slightly ahead of the consensus estimate and down by about 50% versus last year.
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