New York, January 25, 2024 - PrismMarketView - Investors are closely analyzing a series of economic reports and corporate earnings for signs of the Federal Reserve’s next moves. Meanwhile, the euro sees fluctuations as the European Central Bank maintains its current rates, indicating future cuts are not imminent.
S&P 500 futures exhibited mixed reactions following another record close, raising questions about the rally’s sustainability. Treasury two-year yields, sensitive to short-term policy shifts, hovered around 4.4%. The dollar showed minimal changes. Key corporate updates include:
- Tesla Inc.’s ($TSLA), shares dropped as Elon Musk’s explanation for slowing sales growth did not convince investors.
- Boeing Co. ($BA), faces a significant hurdle as the FAA halts its planned production increase for the 737 Max, impacting the company’s expansion plans amid high demand and competition with Airbus SE.
- American Airlines Group Inc. ($AA), anticipates profits exceeding Wall Street predictions, thanks to improved operations and strong international travel demand.
- Southwest Airlines Co. ($LUV), revises its growth plans for the quarter, adapting to increasing costs and a surplus of flights reducing fares.
- Alaska Air Group Inc. ($ALK), forecasts slower growth and a $150 million impact following the grounding of some Boeing 737 planes due to a midair incident.
- IBM ($IBM), projects a positive revenue and cash flow outlook for 2024, indicating robust corporate tech spending, despite planned job cuts.
- SK Hynix Inc. ($000660.KS), reports its first operating profit in over a year, planning to expand high-end memory capacity for AI, hinting at a sector recovery in 2024.
- Comcast Corp. ($CMCSA), surpasses earnings and revenue expectations, driven by customers upgrading to higher-tier broadband services.
- Humana Inc. ($HUM), sees a sharp drop after withdrawing its 2025 earnings goal and predicting lower-than-expected profits for 2024, amidst rising medical costs and changing government policies.
- Blackstone Inc. ($BX), reports a 4% profit increase in Q4 2023, with President Jon Gray optimistic about private equity’s turnaround after a challenging year.
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