Stocks News

US debt default risks recession, job losses, and global impact; Treasury Secretary warns of delays, credit downgrade; experts estimate fallout.

CPI rose 0.4% in April due to shelter; except food and energy, all items index rose 0.4%; energy index fell 5.1%, food index up 7.7%.

Airbnb beats analyst estimates in Q1, but its shares fall as much as 10% in extended trading due to its weaker-than-expected guidance for Q2.

The Fed says US banks are in good shape, but high commercial real estate valuations could lead to sizable correction if telework trend continues.

April’s nonfarm payroll employment and hourly earnings increased despite revised data, while select industries saw employment growth and stable unemployment.

Apple authorizes $90 billion in share repurchases and dividends after beating earnings expectations.

Euro area private sector PMI numbers drew interest this morning as investors prepare for the ECB monetary policy decision and press conference.

ADP reported the private sector added 296K jobs in April as employers aggressively hired while holding pay gains in check.

Starbucks reports strong Q1 results, exceeding expectations with US steady, China rebounding, projecting 10-12% FY23 growth.

German retail sales figures likely affirm a Q1 contraction. However, the ECB will be more interested in core euro area inflation figures in focus today.

The Federal Reserve’s frequent interest rate hikes, expected to peak at 5-5.25%, are accompanied by challenges posed by the recent banking crisis.

March: $67.9B rise in income, $21.5B in spending; personal consumption up less than 0.1% or $8.2B.

Amazon’s Q1 revenue exceeded expectations; AWS revenue increased 16%, advertising grew thanks to machine learning, leading to an 8% surge in shares.

Intel reports Q1 losses with 133% reduction in EPS and 36% YoY revenue decline. Despite struggles, the stock rises over 3% in extended trading.

US Q1 2023 GDP up 1.1% despite consumer and government spending boosts, due to private inventory and residential investment decline.

Despite facing challenges from a battered online ad market and increased competition, Meta exceeded revenue expectations in Q1.

The US experienced a 3.2% increase in durable goods orders in March 2023, with transportation equipment leading the way.

Despite PC sales decline, Microsoft’s earnings boosted by Azure cloud business.

Housing prices see improvement in most cities, yet West Coast struggles in February 2023, according to Case-Shiller

McDonald’s exceeds Q1 earnings and revenue expectations with same-store sales growth in all three divisions