![]() ![]() "Beyond that risk, there is potential that studio and streamer profit margins are reduced as part of a future settlement." "The most apparent risk for investors in these companies is a long-term shutdown in production, perhaps lasting all year, putting increased uncertainty over 2024 content across streaming, linear, and film," Swinburne said. He called the strikes a "highly visible manifestation of the stress in the ecosystem and add additional uncertainty," while noting consolidation and re-bundling while be likely in the longer term. Pressures from the dual Hollywood strikes and maturing streaming field will likely pressure large entertainment companies - and a long-term work stoppage is one of the biggest threats to their investors right now, according to Morgan Stanley.Īnalyst Benjamin Swinburne lowered some estimates for Disney, Warner Bros. CNBC's Gina Francolla contributed to this report. However, not all earnings news was positive as Microsoft slid 3.7% a day after reporting slowing cloud revenue growth. Also, Dow component Boeing gained 8.7% after reporting a second-quarter beat following a rise in commercial aircraft deliveries. On the bullish side, Google-parent Alphabet rose about 5.8% as cloud revenue growth helped propel the company to a better-than-expected quarter. Still, Powell's emphasis that the central bank would be "data-dependent" left traders torn about the central bank's next move and weighed somewhat on market sentiment. Bank shares including Wells Fargo gained after the comments as traders bet that the economy could skirt a recession if the Fed stays on hold. And I would also say it's possible that we would choose to hold steady and we're going to be making careful assessments, as I said, meeting by meeting," said Powell at a press conference following the decision. "I would say it's certainly possible that we will raise funds again at the September meeting if the data warranted. However, Treasury yields slid after Fed Chief Jerome Powell suggested the central bank could pause again here. The Federal Reserve raised rates to their highest level in more than 22 years after passing through a much-anticipated quarter point hike at the conclusion of its meeting. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower The company said its electric vehicle adoption was taking longer than expected due to higher costs.Best Debt Consolidation Loans for Bad Credit On the other hand, Ford Motor shares fell 3.4% even though the automaker beat estimates and raised guidance. Intel jumped 6.6% as investors applauded a return to profitability, while Roku climbed 31% a day after beating Wall Street expectations on both the top and bottom lines. The consumer goods company behind Tide and other brands beat analysts' earnings and revenue expectations in its most recent quarter. "In the wake of stronger than expected GDP, and a better-than-expected earnings season, this could be the catalyst to send the market to new highs," wrote Gina Bolvin, president of Bolvin Wealth Management Group.Įarnings season continued with Dow member Procter & Gamble shares gaining nearly 3%. The Fed targets inflation at 2% annually. The data is of particular interest after the central bank raised interest rates earlier this week in a widely expected move. Core PCE rose 4.1% from the year-ago period, lower than the anticipated 4.2%. The gauge showed core PCE gained 0.2% month-over-month, in line with the 0.2% increase expected by economists polled by Dow Jones. On Friday, June data for the personal consumption expenditures price index continued to show easing inflation. This week, investors cheered data showing cooling inflation and stronger-than-expected earnings reports that supported the case the U.S. The S&P advanced 1.01%, and the tech-heavy index is up 2.02%. On Thursday, the Dow ended a 13-day win streak, a length not seen since 1987. The Nasdaq Composite gained 1.90% to 14,316.66.Īll three major averages notched weekly gains with the 30-stock average up by about 0.66%. Stocks rose Friday with the Dow Jones Industrial Average and S&P 500 closing out their third winning weeks in a row as a measure of inflation closely watched by the Federal Reserve came in at its lowest in nearly two years. Best Debt Consolidation Loans for Bad Credit ![]()
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