Stock Market News – US stock futures are in the green in early trading this morning. Since the general market fell to a 2021 low yesterday, this would not be surprising. Notably, the S&P 500 retreated more than 3% at the closing bell, falling below 4,000, its lowest level since March 2021. Brian Price, Chief Investment Officer of Financial Services Country, given the details of each. It starts by writing:
The current market does not have any major catalysts, so it is not surprising that we start the week in depression.
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Another recent catalyst that can increase risk aversion is the lack of income.
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According to this analyst, this is true in relation to the last season when the name is growing. Now, as macroeconomic pressures become more severe on the global economy, the recession will begin. Through the loss of profits and poor visibility, this has become obvious. However, there is still plenty of news in the stock market to keep investors busy today. By 4:11 a.m. ET, Dow, S&P 500 and Nasdaq futures were up 0.68 percent, 0.86 percent and 1.40 percent.
In the cryptocurrency space, Bitcoin (BTC) is feeling the heat at the beginning of this week. Late Monday, the leading cryptocurrency fell below the $30,000 level per coin. Of course, volatility is part of the entire Bitcoin experience. However, it’s a critical initiative that makes some of the most popular cryptocurrency people sweat. In fact, the last time Bitcoin traded at this price point was July 2021. For reference, this figure will be more than 55% of the highest price of $69,000 in November 2021. Although The top cryptocurrency titan is facing a massive selloff. Will Bitcoin price be in the news right now along with stocks?
Despite the current crisis, the country of El Salvador is doubling its Bitcoin capital. In detail, a tweet from Vice President Buccele shows that El Salvador has bought another 500 bitcoins. Such a property is worth about 15.5 million dollars. Importantly, this is the largest Bitcoin purchase for the country since September 2021. After the move, El Salvador’s total Bitcoin holdings now stand at 2,301 Bitcoins, which is approx. about $71.7 million. All in all, even in the midst of the recession, the crypto train is still rolling. Now the question is whether we are looking for bitcoins here.
Occidental Petroleum (NYSE: OXY ) is set to report its first fiscal quarter after the closing bell today. For this reason, investors tend to be bullish on popular oil and gas companies right now. Overall, Wall Street analysts seem to have high expectations for the company this quarter. As it stands, estimates now point to earnings per share of $2.03. All things considered, that’s a big jump from Occidental’s loss of $0.15 a share in the same quarter last year. Additionally, consensus estimates are for total revenue of $8.06 billion for the quarter. If so, it would represent a year-on-year jump of 47%.
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Aside from Wall Street’s high expectations, OXY’s stock has also attracted much attention from Warren Buffett’s Berkshire Hathaway (NYSE: BRK.A ). Just last week, Oracle of Omaha privately issued an order to buy another 5.9 million shares of the company. As a result, Berkshire now owns 15.2% of Occidental. In total, this figure comes to 142.3 million shares worth $8.8 billion. Although OXY shares are looking more than 80% so far this year, some analysts see more. For example, Stifel (NYSE: SF ) analyst Michael Squilla currently has a buy rating and an $84 price target on OXY stock. The analyst points to Occidental’s low-carbon air absorption business as a potential growth catalyst. With all of this in mind, I can see investors selling OXY stock today.
AMC Entertainment (NYSE: AMC ) will be among the winners in yesterday’s mostly red market. For the most part, the goliath-turned-meme management company has its last income to thank for that. Diving in, AMC is looking for quarterly revenue of $785.7 million, which is the consensus estimate of $743.4 million. Last year, this represented a 429% jump. In terms of revenue, AMC also managed to reduce its losses to $337.4 million from $567.2 million last year. In the grand scheme of things, the company seems to be like moviegoers back to the theaters.
Our results for the first quarter of 2022 represent AMC’s strongest second quarter in two years. We continue on our way to the recovery of transmission, more than quintupling the income and improving the EBITDA by nearly eighty percent The significant success AMC has made is priceless as our guests continue to appreciate AMC’s excellent movie experience.
Among the main drivers of growth in the past few months have been blockbusters from Disney (NYSE: DIS ) and Warner Bros. Discover (NASDAQ: WBD ).
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Given AMC’s current momentum, some argue that AMC’s stock may have more room to run.
Don’t forget, here are a few other key players scheduled to announce earnings today. Currently, we have Peloton (NASDAQ: PTON ), Norwegian Cruise Line (NYSE: NCLH ), Sysco (NYSE: SYY ), Li Auto (NASDAQ: LI ) and Cronos (NASDAQ: CRON ), among others.
On the other hand, there are many well-known tech hosting accounts that call after closing the bell. These include Roblox (NYSE: RBLX ), TheTradeDesk (NASDAQ: TTD ), Coinbase (NASDAQ: COIN ), Sofi (NASDAQ: SOFI ) and Unity (NYSE: U ). Separately, Wynn Resorts (NASDAQ: WYNN ) will also report its first quarter financial results at the same time. With all this going on now, there seems to be no shortage in the stock market today.
If you enjoyed this article and want to learn how to trade so that you have the best chance of making regular money, check out this YouTube channel. Click here now!! The Nasdaq and S&P 500 closed slightly higher on Friday, avoiding losses all week. However, all three major indexes ended the week lower as oil prices rose, labor market data came in stronger than expected and China expected no across the industry with its iPhone policy.
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The Dow Jones Industrial Average led the day with a gain of 0.2%, while the S&P 500 and Nasdaq gained 0.1%. For the week, the Dow fell 0.8%, the S&P 500 fell 1.3% and the Nasdaq fell 1.9%.
Apple ( AAPL ) rose 0.4 percent, recouping some of the $190 billion in market value lost over the past two days after China banned government employees from using iPhones at work.
Gasoline futures rose 1.5 percent Stocks fell overseas, with Japan’s Nikkei down more than 1 percent.
The Nasdaq fell 0.9 percent yesterday on reports that China is extending its iPhone ban to state-sponsored entities. The Dow was supported by health care stocks, helping it rise 0.2%.
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The Dow Jones Industrial Average rose 0.2 percent, or about 70 points, as technology stocks rallied after declining over the weekend. Two straight sessions of rising averages weren’t enough to pull the index into the green for the week, with the Dow closing the weekend short of a forecast. 0.8 percent
Amgen ( AMGN ) led the Dow higher, up 2%. Walt Disney Co ( DIS ) rose 1.3 percent
Shares of Microsoft (MSFT) also rose 1.3 percent, as an executive said the software giant’s artificial intelligence (AI) business will reach $10 billion sooner than the second quarter.
Salesforce ( CRM ) rose 1% and shares of Apple ( AAPL ) rose 0.3% after two straight days of declines on concerns about the China economy.
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Goldman Sachs ( GS ) rose 1.1 percentback-backed-up” later this month) the investment bank said it would resume a negative annual job review that could increase unemployment rates by 1 to 5. percentage of employees.
Chevron ( CVX ) rose 0.3% despite the start of a partial strike at Australian liquefied natural gas (LNG) facilities.
Shares of Boeing ( BA ) fell 2.2 percent after one of its main suppliers, Spirit AeroSystems ( SPR ), said that rising costs had affected its contract with the The plane was designed “without success” and asked Boeing to absorb more costs. Shares of Spirit AeroSystems fell 1.3 percent.
Shares of Verizon ( VZ ) fell 1.1% and Dow Inc ( DOW ) fell 0.7%. Shares of Intel (INTC) fell 0.5 percent, snapping a nine-session winning streak.
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Apple lost about $200 billion in value on Wednesday and Thursday after announcing a government ban on iPhones. Apple shares were down 6 percent for the week as of 3:30 p.m. ET.
But sellers have it too. In Taiwan, Apple’s subsidiary Largan Precision, which makes camera lenses, saw its stock drop 3.6 percent for the week. Chipmaker Taiwan Semiconductor (TSM) is an important plant in Apple’s supply chain and its products.
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