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Stock Market News For Today October 13, 2021

JPMorgan Chase, BlackRock and Delta Air Lines are some of the earnings to watch before the opening bell.
The post Stock Market News For Today October 13, 2021 appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket…

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Stock Futures Edging Up Ahead Of Earnings & Inflation Report

Stock market futures are moving marginally higher in early morning trading on Wednesday. This comes as investors anticipate the start of earnings season and a new inflation report. These economic and earnings data would provide insight into whether the inflation fears are warranted. For investors, though, the broad rise in commodity prices and interest rates has threatened to exert pressure on companies’ profit margin. 

Bank earnings kick off on Wednesday with JPMorgan (NYSE: JPM) among the first  to report. From last quarter, JPMorgan beat on both top and bottom lines. And Wall Street expects modest growth in the upcoming quarter compared to the year-ago period. Delta Air Lines (NYSE: DAL) will also be reporting before the opening bell today. Analysts are expecting to see positive earnings per share, after six straight quarters of per-share losses. 

Meanwhile, Qualcomm (NASDAQ: QCOM) stocks are rising in the pre-market trading today after the mobile chip maker announced plans for a $10 billion stock buyback. As of 6:12 a.m. ET, the Dow, S&P 500, and Nasdaq futures are rising by 0.13%, 0.20% and 0.43% respectively.

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Apple Likely To Cut iPhone 13 Production Due To Chip Shortages

Apple’s (NASDAQ: AAPL) stock is trading lower in the pre-market trading today. This came after the company said it is likely to slash its projected iPhone 13 production targets for 2021 by as many as 10 million units. The tech giant initially expected to produce 90 million new iPhone models in the final quarter of 2021. But it’s now telling its manufacturing partners that the number will be lower because Broadcom (NASDAQ: AVGO) and Texas Instruments (NASDAQ: TXN) aren’t delivering enough components. 

best tech stocks (AAPL stock)

This shouldn’t come as a surprise considering that Apple had warned about it earlier this year. If anything, Apple’s woes show that even a company of this scale isn’t immune to global shortages exacerbated by the pandemic. Major chip makers have warned that demand will continue to outpace supply throughout next year. Apart from the iPhone, the company is also struggling to make enough of the Apple Watch Series 7 and other products.  

Separately, Apple also announced Tuesday that it plans to hold a launch event on October 18. This is where the company would likely announce the new MacBook and AirPods. Both of these products are highly anticipated for revamp, as the most recent models for both products were released in 2019. It remains an open question at this stage on how long the chip shortages would last. But with a number of companies working on new chip production bases, that’s a positive news amid the chip shortages we are having.

[Read More] Top Stocks To Buy Now? 4 Renewable Energy Stocks For Your Watchlist

Goldman Sees More Upside In Nike (NKE) Stock

After getting bashed following an unsatisfactory quarter, Goldman Sachs thinks it’s time to buy Nike (NYSE: NKE) stocks. Namely, analyst Kate McShane hit NKE stock with a Buy rating and a $172 price target. This would suggest a possible upside of 12% from its price of $153.35 as of Tuesday’s closing bell. Notably, McShane cited a “healthy industry backdrop” and room for Nike to expand its direct-to-consumer offerings as key growth factors moving forward.

best consumer stocks to buy (NKE stock)

Recall that Nike slashed its full-year sales outlook to a mid-single digit percentage from a prior outlook of low double-digit growth. “We are not immune to the global supply chain headwinds that are challenging the manufacture and movement of products around the world,” conceded Nike CFO Matt Friend to analysts on a conference call.

The sneaker and apparel giant had a rare quarterly miss. This is no thanks to supply chain bottlenecks hurting the flow of merchandise. Yet, analysts at Goldman believe that Nike stock has dropped too much. They mentioned that investors should just ‘Buy’ it. With more customers focusing on wellness since the onset of the pandemic, the apparel giant believes that it could continue to benefit. Considering all these, would you include NKE stock on your watchlist today? 

[Read More] 4 Robotics Stocks To Watch Amid Rising Shifts To Automation 

Bitcoin Eyes $60,000; Shiba Inu Coin Continues To Attract Speculators

Bitcoin (BTC) is making headlines yet again in the stock market this week. For the most part, this would be due to the digital currency’s current winning streak. After topping the $57,000 point, the leading cryptocurrency continued to hold up above the $54,000 mark. Bitcoin’s rally looks to have legs as the ascent comes at a time of a pickup in blockchain activity. Also, an increase in network adoption along with a price increase is said to confirm the uptrend. 

While other major cryptocurrencies such as Ethereum and Cardano continue to move alongside Bitcoin, one coin that has attracted speculators as of late is Shiba Inu. The dog-based crypto exploded in October, rising almost 300% in the month so far, making it the 18th largest coin. The massive rally appears to have a connection with the tweet from Tesla (NASDAQ: TSLA) CEO Elon Musk, who posted a picture of his Shiba Inu breed. 

Apart from the tweet, there does not seem to be any reason supporting the ascent of the coin. For starters, Shiba Inu coin echoes the rise in Dogecoin seen at the start of the year. Dogecoin currently sits at the tenth largest cryptocurrency by market cap. If Dogecoin’s past performance is of any guide, traders should be aware that this is a high-risk and potentially high-reward investment. And you should only lay your hands on it if you are willing to lose your capital.

BTC chart
Source: TradingView

Notable Earnings To Watch Today

With the current focus on earnings season, investors would be keeping their eyes peeled for notable names reporting quarterly figures. Today, the banks will kick start the third-quarter earnings for this season. Some of the bank stocks reporting before the opening bell include JPMorgan Chase, BlackRock (NYSE: BLK) and First Republic Bank (NYSE: FRC). Apart from bank stocks, there are also notable names such as Delta Air Lines and Infosys (NYSE: INFY) reporting alongside.

Alternatively, after the closing bell, E2open (NYSE: ETWO) and Esports Entertainment Group (NASDAQ: GMBL) among others are on tap. Whether it is inflation, supply chain pressures, or the rising Bitcoin price, one thing is certain. There is plenty of stock market news to keep you busy today.

The post Stock Market News For Today October 13, 2021 appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.com.

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Homes listed for sale in early June sell for $7,700 more

New Zillow research suggests the spring home shopping season may see a second wave this summer if mortgage rates fall
The post Homes listed for sale in…

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  • A Zillow analysis of 2023 home sales finds homes listed in the first two weeks of June sold for 2.3% more. 
  • The best time to list a home for sale is a month later than it was in 2019, likely driven by mortgage rates.
  • The best time to list can be as early as the second half of February in San Francisco, and as late as the first half of July in New York and Philadelphia. 

Spring home sellers looking to maximize their sale price may want to wait it out and list their home for sale in the first half of June. A new Zillow® analysis of 2023 sales found that homes listed in the first two weeks of June sold for 2.3% more, a $7,700 boost on a typical U.S. home.  

The best time to list consistently had been early May in the years leading up to the pandemic. The shift to June suggests mortgage rates are strongly influencing demand on top of the usual seasonality that brings buyers to the market in the spring. This home-shopping season is poised to follow a similar pattern as that in 2023, with the potential for a second wave if the Federal Reserve lowers interest rates midyear or later. 

The 2.3% sale price premium registered last June followed the first spring in more than 15 years with mortgage rates over 6% on a 30-year fixed-rate loan. The high rates put home buyers on the back foot, and as rates continued upward through May, they were still reassessing and less likely to bid boldly. In June, however, rates pulled back a little from 6.79% to 6.67%, which likely presented an opportunity for determined buyers heading into summer. More buyers understood their market position and could afford to transact, boosting competition and sale prices.

The old logic was that sellers could earn a premium by listing in late spring, when search activity hit its peak. Now, with persistently low inventory, mortgage rate fluctuations make their own seasonality. First-time home buyers who are on the edge of qualifying for a home loan may dip in and out of the market, depending on what’s happening with rates. It is almost certain the Federal Reserve will push back any interest-rate cuts to mid-2024 at the earliest. If mortgage rates follow, that could bring another surge of buyers later this year.

Mortgage rates have been impacting affordability and sale prices since they began rising rapidly two years ago. In 2022, sellers nationwide saw the highest sale premium when they listed their home in late March, right before rates barreled past 5% and continued climbing. 

Zillow’s research finds the best time to list can vary widely by metropolitan area. In 2023, it was as early as the second half of February in San Francisco, and as late as the first half of July in New York. Thirty of the top 35 largest metro areas saw for-sale listings command the highest sale prices between May and early July last year. 

Zillow also found a wide range in the sale price premiums associated with homes listed during those peak periods. At the hottest time of the year in San Jose, homes sold for 5.5% more, a $88,000 boost on a typical home. Meanwhile, homes in San Antonio sold for 1.9% more during that same time period.  

 

Metropolitan Area Best Time to List Price Premium Dollar Boost
United States First half of June 2.3% $7,700
New York, NY First half of July 2.4% $15,500
Los Angeles, CA First half of May 4.1% $39,300
Chicago, IL First half of June 2.8% $8,800
Dallas, TX First half of June 2.5% $9,200
Houston, TX Second half of April 2.0% $6,200
Washington, DC Second half of June 2.2% $12,700
Philadelphia, PA First half of July 2.4% $8,200
Miami, FL First half of June 2.3% $12,900
Atlanta, GA Second half of June 2.3% $8,700
Boston, MA Second half of May 3.5% $23,600
Phoenix, AZ First half of June 3.2% $14,700
San Francisco, CA Second half of February 4.2% $50,300
Riverside, CA First half of May 2.7% $15,600
Detroit, MI First half of July 3.3% $7,900
Seattle, WA First half of June 4.3% $31,500
Minneapolis, MN Second half of May 3.7% $13,400
San Diego, CA Second half of April 3.1% $29,600
Tampa, FL Second half of June 2.1% $8,000
Denver, CO Second half of May 2.9% $16,900
Baltimore, MD First half of July 2.2% $8,200
St. Louis, MO First half of June 2.9% $7,000
Orlando, FL First half of June 2.2% $8,700
Charlotte, NC Second half of May 3.0% $11,000
San Antonio, TX First half of June 1.9% $5,400
Portland, OR Second half of April 2.6% $14,300
Sacramento, CA First half of June 3.2% $17,900
Pittsburgh, PA Second half of June 2.3% $4,700
Cincinnati, OH Second half of April 2.7% $7,500
Austin, TX Second half of May 2.8% $12,600
Las Vegas, NV First half of June 3.4% $14,600
Kansas City, MO Second half of May 2.5% $7,300
Columbus, OH Second half of June 3.3% $10,400
Indianapolis, IN First half of July 3.0% $8,100
Cleveland, OH First half of July  3.4% $7,400
San Jose, CA First half of June 5.5% $88,400

 

The post Homes listed for sale in early June sell for $7,700 more appeared first on Zillow Research.

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Survey Shows Declining Concerns Among Americans About COVID-19

Survey Shows Declining Concerns Among Americans About COVID-19

A new survey reveals that only 20% of Americans view covid-19 as "a major threat"…

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Survey Shows Declining Concerns Among Americans About COVID-19

A new survey reveals that only 20% of Americans view covid-19 as "a major threat" to the health of the US population - a sharp decline from a high of 67% in July 2020.

(SARMDY/Shutterstock)

What's more, the Pew Research Center survey conducted from Feb. 7 to Feb. 11 showed that just 10% of Americans are concerned that they will  catch the disease and require hospitalization.

"This data represents a low ebb of public concern about the virus that reached its height in the summer and fall of 2020, when as many as two-thirds of Americans viewed COVID-19 as a major threat to public health," reads the report, which was published March 7.

According to the survey, half of the participants understand the significance of researchers and healthcare providers in understanding and treating long COVID - however 27% of participants consider this issue less important, while 22% of Americans are unaware of long COVID.

What's more, while Democrats were far more worried than Republicans in the past, that gap has narrowed significantly.

"In the pandemic’s first year, Democrats were routinely about 40 points more likely than Republicans to view the coronavirus as a major threat to the health of the U.S. population. This gap has waned as overall levels of concern have fallen," reads the report.

More via the Epoch Times;

The survey found that three in ten Democrats under 50 have received an updated COVID-19 vaccine, compared with 66 percent of Democrats ages 65 and older.

Moreover, 66 percent of Democrats ages 65 and older have received the updated COVID-19 vaccine, while only 24 percent of Republicans ages 65 and older have done so.

“This 42-point partisan gap is much wider now than at other points since the start of the outbreak. For instance, in August 2021, 93 percent of older Democrats and 78 percent of older Republicans said they had received all the shots needed to be fully vaccinated (a 15-point gap),” it noted.

COVID-19 No Longer an Emergency

The U.S. Centers for Disease Control and Prevention (CDC) recently issued its updated recommendations for the virus, which no longer require people to stay home for five days after testing positive for COVID-19.

The updated guidance recommends that people who contracted a respiratory virus stay home, and they can resume normal activities when their symptoms improve overall and their fever subsides for 24 hours without medication.

“We still must use the commonsense solutions we know work to protect ourselves and others from serious illness from respiratory viruses, this includes vaccination, treatment, and staying home when we get sick,” CDC director Dr. Mandy Cohen said in a statement.

The CDC said that while the virus remains a threat, it is now less likely to cause severe illness because of widespread immunity and improved tools to prevent and treat the disease.

Importantly, states and countries that have already adjusted recommended isolation times have not seen increased hospitalizations or deaths related to COVID-19,” it stated.

The federal government suspended its free at-home COVID-19 test program on March 8, according to a website set up by the government, following a decrease in COVID-19-related hospitalizations.

According to the CDC, hospitalization rates for COVID-19 and influenza diseases remain “elevated” but are decreasing in some parts of the United States.

Tyler Durden Sun, 03/10/2024 - 22:45

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Rand Paul Teases Senate GOP Leader Run – Musk Says “I Would Support”

Rand Paul Teases Senate GOP Leader Run – Musk Says "I Would Support"

Republican Kentucky Senator Rand Paul on Friday hinted that he may jump…

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Rand Paul Teases Senate GOP Leader Run - Musk Says "I Would Support"

Republican Kentucky Senator Rand Paul on Friday hinted that he may jump into the race to become the next Senate GOP leader, and Elon Musk was quick to support the idea. Republicans must find a successor for periodically malfunctioning Mitch McConnell, who recently announced he'll step down in November, though intending to keep his Senate seat until his term ends in January 2027, when he'd be within weeks of turning 86. 

So far, the announced field consists of two quintessential establishment types: John Cornyn of Texas and John Thune of South Dakota. While John Barrasso's name had been thrown around as one of "The Three Johns" considered top contenders, the Wyoming senator on Tuesday said he'll instead seek the number two slot as party whip. 

Paul used X to tease his potential bid for the position which -- if the GOP takes back the upper chamber in November -- could graduate from Minority Leader to Majority Leader. He started by telling his 5.1 million followers he'd had lots of people asking him about his interest in running...

...then followed up with a poll in which he predictably annihilated Cornyn and Thune, taking a 96% share as of Friday night, with the other two below 2% each. 

Elon Musk was quick to back the idea of Paul as GOP leader, while daring Cornyn and Thune to follow Paul's lead by throwing their names out for consideration by the Twitter-verse X-verse. 

Paul has been a stalwart opponent of security-state mass surveillance, foreign interventionism -- to include shoveling billions of dollars into the proxy war in Ukraine -- and out-of-control spending in general. He demonstrated the latter passion on the Senate floor this week as he ridiculed the latest kick-the-can spending package:   

In February, Paul used Senate rules to force his colleagues into a grueling Super Bowl weekend of votes, as he worked to derail a $95 billion foreign aid bill. "I think we should stay here as long as it takes,” said Paul. “If it takes a week or a month, I’ll force them to stay here to discuss why they think the border of Ukraine is more important than the US border.”

Don't expect a Majority Leader Paul to ditch the filibuster -- he's been a hardy user of the legislative delay tactic. In 2013, he spoke for 13 hours to fight the nomination of John Brennan as CIA director. In 2015, he orated for 10-and-a-half-hours to oppose extension of the Patriot Act

Rand Paul amid his 10 1/2 hour filibuster in 2015

Among the general public, Paul is probably best known as Capitol Hill's chief tormentor of Dr. Anthony Fauci, who was director of the National Institute of Allergy and Infectious Disease during the Covid-19 pandemic. Paul says the evidence indicates the virus emerged from China's Wuhan Institute of Virology. He's accused Fauci and other members of the US government public health apparatus of evading questions about their funding of the Chinese lab's "gain of function" research, which takes natural viruses and morphs them into something more dangerous. Paul has pointedly said that Fauci committed perjury in congressional hearings and that he belongs in jail "without question."   

Musk is neither the only nor the first noteworthy figure to back Paul for party leader. Just hours after McConnell announced his upcoming step-down from leadership, independent 2024 presidential candidate Robert F. Kennedy, Jr voiced his support: 

In a testament to the extent to which the establishment recoils at the libertarian-minded Paul, mainstream media outlets -- which have been quick to report on other developments in the majority leader race -- pretended not to notice that Paul had signaled his interest in the job. More than 24 hours after Paul's test-the-waters tweet-fest began, not a single major outlet had brought it to the attention of their audience. 

That may be his strongest endorsement yet. 

Tyler Durden Sun, 03/10/2024 - 20:25

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