Discussion on global economy and financial markets - Page 35

https://fortune.com/2023/04/04/how-bad-commercial-real-estate-banking-crisis-svb-morgan-stanley-outlook/

IRS (US wala) planning to do hiring spree... https://www.irs.gov/about-irs/irs-inflation-reduction-act-strategic-operating-plan

i feel its too generic of CEO even though the intent is nice...try to check out in NYC ke roads where traffic is hell of a pain and uber drivers are doing apni manmaani...

https://www.wsj.com/articles/uber-ceo-started-driving-for-uber-5bef5023?mod=hp_lead_pos2#comments_sector

in india, uber/ola services are pretty bad (speaking from mumbai experience specifically but heard from mutuals its bad in bangalore, delhi, etc esp ola service)...

This week:

Monday: Wholesale inventory report.

Tuesday: Small Business Optimism Index (NFIB). Also, earnings kick off with reports from CarMax (KMX), Albertsons (ACI), and First Republic Bank (FRC).

Wednesday: Consumer Price Index (CPI inflation report) and FOMC meeting minutes.

Thursday: OPEC monthly report and Producer Price Index. Earnings from Delta Air Lines (DAL).

Friday: Earnings from JPMorgan Chase (JPM), Wells Fargo (WFC), BlackRock (BLK), Citigroup (C), and PNC Financial Services (PNC). Plus, the retail sales report.

The International Monetary Fund released global growth expectations yesterday, and it was underwhelming, to say the least.

Five years from now, the IMF predicts global growth to be at 3% - The weakest prediction in over three decades.

Multiple factors are weighing down global growth, such as higher living standards, slower labor force growth, and geopolitical divides, like Brexit and the Russian invasion of Ukraine.

https://s2.washingtonpost.com/camp-rw/?trackId=596a8bd8ade4e20ee3732ffe&s=6436c81853816d1ce09c4f6c&linknum=4&linktot=31

The US stock market rose steadily, as the PPI-Producer Price Index slowed down significantly in March, easing the pressure for the Federal Reserve to raise interest rates. The DJI gained 383 points or 1.14%, the S&P 500 rose 1.33%, and the Nasdaq Composite surged 1.99%. Technology stocks rebounded, with Netflix, Amazon, Alphabet, Meta and Apple leading the gains. Apple was the best performer among the Dow components, soaring 3.41%. Bank stocks also recovered ahead of their earnings reports on Friday. The US dollar weakened against major currencies, as the PPI data reduced inflation expectations. The euro rose to a one-year high of 1.107 US dollars, and the British pound climbed to a year-to-date high of 1.2538 US dollars. Gold prices soared over 1.7% to challenge a historical high of 2049.7 US dollars per ounce. Bitcoin also rose to over 30,600 US dollars. Oil prices fell as OPEC estimated that there could be a supply gap of 2 million barrels per day in the fourth quarter after oil-producing countries announced production cuts earlier this month.

Fun fact - The most expensive stock in the world is Berkshire Hathaway (BRK.A). As of Thursday, one share of BRK.A will set you back $490,760.00!

Here are the most notable earnings releases for this upcoming trading week ahead!

https://youtu.be/YKC01Bv_slI