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Top Stock Market News For Today January 27, 2022

Apple, Mastercard, and Visa are set to host their latest earnings calls in the stock market today.
The post Top Stock Market News For Today January 27, 2022 appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.c…

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Stock Market Futures Mixed Following Federal Reserve Policy Update

Stock market futures are mixed during today’s early morning trading. This is likely as investors digest the latest statements from the Federal Open Market Committee (FOMC). Now, among the key takeaways from the FOMC meeting would be its decision to hold interest rates at near-zero for now. Even so, there remains a focus on withdrawing pandemic-era policies amidst rising inflation. This is evident from the following statement from the Fed. “With inflation well above 2% and a strong labor market, the Committee expects it will soon be appropriate to raise the target range for the federal funds rate.

Now, the current move by the Federal Reserve is not all that surprising. This is because policymakers have and continue to reiterate that ending the central banks’ asset purchase program is their first priority. On this front, the FOMC affirms that it will likely complete the process by early March. By extension, we could see the first interest rate hike within the next two months. For one thing, increasing interest rates would help to address the current issue with inflation. This would primarily raise borrowing costs and reduce demand for goods in general.

For today, investors could be closely watching how these updates weigh in on earnings in Big Tech in the stock market today. As of 7:24 a.m. ET, the Dow & S&P 500 are declining by 0.26%, and 0.09%, while Nasdaq futures are trading higher by 0.15%.

[Read More] Best Artificial Intelligence Stocks To Buy Right Now? 5 To Watch

Apple Earnings On Tap After Closing Bell Today; Reportedly Making Bold Push Into Fintech

Apple (NASDAQ: AAPL) is the next FAANG member reporting quarterly earnings figures today. With the consumer tech titan coming under the microscope today, investors will likely be tuning in to AAPL stock today. Accordingly, Wall Street is currently expecting Apple to report an earnings per share of $1.88 on revenue of $118.7 billion. Now, to begin with, these figures are commendable even after accounting for the company’s massive operations. However, after a solid two years of strong iPhone sales amidst the pandemic, things appear to be normalizing for Apple. According to a statement to its component suppliers, the demand for iPhone 13’s is weakening. Because of this, the focus could be on Apple’s iPhone revenue this quarter.

Aside from its earnings, Apple does not seem to be slowing down in the least bit on the operational front. According to sources from Bloomberg, the company is planning to test out new fintech services. This would see small businesses being able to accept digital payments directly from iPhones. In other words, Apple could be looking to turn iPhones into payment terminals. More importantly, the report suggests that all this will be done without additional hardware through near-field communication (NFC) tech.

Should all this be the case, Apple would be stepping up to the plate against firms like Block (NYSE: SQ). Regardless of how you look at it, Apple seems to be having an exciting week. With that in mind, investors may want to consider taking a closer look at AAPL stock now.

AAPL premarket
Source: TD Ameritrade TOS

Tesla Posts Strong Earnings And Reveals Plans To Rev Up Autonomous Vehicle Tech And Production Efforts

Elsewhere, Tesla (NASDAQ: TSLA) reported positive numbers in its fourth-quarter earnings yesterday. After the closing bell, the company reported earnings of $2.52 on record quarterly revenue of $17.72 billion. Notably, this would be well above estimates of $2.36 and $16.57 billion respectively. In detail, the electric vehicle (EV) goliath saw its total revenue soar by 65% year-over-year. Over the same period, its automotive revenue is currently looking at sizable gains of 71%. Also, Tesla’s net income is up by a whopping 760%, totaling $2.32 billion.

Despite all of this, TSLA stock ended the post-market trading hours in the red. For the most part, this would be due to CEO Elon Musk’s latest update on Tesla’s operation. According to Musk, the EV firm will likely remain “chip-limited” this year and lack any new models in 2022. Furthermore, he also notes that Tesla’s factories have been and still are running below capacity. The reason for this is supply chain issues becoming a “main limiting factor,” in Musk’s words.

While all this may appear to be negative, the company has also been holding its ground. Throughout 2021, Tesla hit record production figures and is looking to expand beyond its 600,000 units per year manufacturing capacity. After considering all of this data, investors looking for long-term buys could be eyeing TSLA stock.

TSLA stock chart
Source: TD Ameritrade TOS

[Read More] Best Monthly Dividend Stocks To Buy Now? 5 For Your List

Intel Reports Solid Earnings Beats And Provides Optimistic Guidance

Similar to Tesla, Intel (NASDAQ: INTC) also posted better-than-expected figures in its latest earnings report. Diving in, the semiconductor maker raked in a total revenue of $19.5 billion for the quarter. This would exceed consensus forecasts of $18.31 billion. Moreover, Intel recorded an earnings per share of $1.09, beating expectations of $0.91. If that wasn’t enough, the company’s Client Computing Group, its largest division, raked in a revenue of $10.1 billion. To put things into perspective, this is against estimates of $9.6 billion and marks a 7% year-over-year dip.

Commenting on the company’s overall performance is CEO Pat Gelsinger. He says, “Q4 represented a great finish to a great year. We exceeded top-line quarterly guidance by over $1 billion and delivered the best quarterly and full-year revenue in the company’s history.” Adding to that, Gelsinger highlights, “Our disciplined focus on execution across technology development, manufacturing, and our traditional and emerging businesses is reflected in our results. We remain committed to driving long-term, sustainable growth as we relentlessly execute our IDM 2.0 strategy.

Additionally, Gelsinger also talked about the company’s next-generation server chip, Sapphire Rapids. According to the CEO, Sapphire Rapids is set to begin shipping this quarter with plans for production boosts in Q2. All in all, it seems like Intel is kicking into high gear across the board. Because of that, INTC stock could be in focus in the stock market now.

INTC Stock chart
Source: TD Ameritrade TOS

[Read More] Best Lithium Battery Stocks To Buy Now? 4 To Know

Notable Earnings To Know In The Stock Market Today

Not to mention, there are plenty of massive companies reporting their earnings today as well. This ranges from some of the biggest names in consumer tech to industrial giants, and consumer staples. In the pre-market hours, we have Mastercard (NYSE: MA), Nucor (NYSE: NUE), McDonald’s (NYSE: MCD), and Altria (NYSE: MO) on tap. Also, two key airline operators, JetBlue (NASDAQ: JBLU) and Southwest (NYSE: LUV) fall in this group as well.

Alternatively, for those looking towards earnings after the closing bell, there is a strong focus on tech. Aside from Apple, Robinhood (NASDAQ: HOOD), Visa (NYSE: V), Western Digital (NASDAQ: WDC), and Atlassian (NASDAQ: TEAM) are reporting earnings. Between major tech earnings and FOMC policy updates, investors have plenty to consider in the stock market now.


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The post Top Stock Market News For Today January 27, 2022 appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.com.

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Economics

Global Industry Statement on the WTO Moratorium on Customs Duties on Electronic Transmissions

Global Industry Statement on the WTO Moratorium on Customs Duties on Electronic Transmissions
PR Newswire
NEW YORK, May 17, 2022

NEW YORK, May 17, 2022 /PRNewswire/ — The United States Council for International Business (USCIB) joined today nearly…

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Global Industry Statement on the WTO Moratorium on Customs Duties on Electronic Transmissions

PR Newswire

NEW YORK, May 17, 2022 /PRNewswire/ -- The United States Council for International Business (USCIB) joined today nearly 100 other global trade and industry associations to urge WTO members to renew the Moratorium on Customs Duties on Electronic Transmissions at the 12th WTO Ministerial Conference in June.

According to the statement, allowing the Moratorium to expire would be a historic setback for the WTO, representing an unprecedented termination of a multilateral agreement in place nearly since the WTO's inception – an agreement that has allowed the digital economy to take root and grow. All WTO members have a stake in the organization's continued institutional credibility and resilience, as well as its relevance at a time of unprecedented digital transformation.

Continuation of the Moratorium is critical to the COVID-19 recovery. As detailed by the United Nations, the World Bank, the OECD, and many other organizations, the cross-border exchange of knowledge, technical know-how, and scientific and commercial information across transnational IT networks, as well as access to digital tools and global market opportunities have helped sustain economies, expand education, and raise global living standards.

Continuation of the Moratorium is also important to supply chain resilience for manufacturing and services industries in the COVID-19 era. Manufacturers – both large and small, and across a range of industrial sectors – rely on the constant flow of research, design, and process data and software to enable their production flows and supply chains for critical products.

The Moratorium is particularly beneficial to Micro, Small and Medium-Sized Enterprises (MSMEs), whose ability to access and leverage digital tools has allowed them to stay in business amidst physical restrictions and lockdowns.

Failure to renew the Moratorium will jeopardize these benefits, as customs restrictions that interrupt cross-border access to knowledge and digital tools will harm MSMEs, the global supply chain, and COVID-19 recovery – increasing digital fragmentation. As UNCTAD has explained, such fragmentation "reduces market opportunities for domestic MSMEs to reach worldwide markets, [and] ... reduces opportunities for digital innovation, including various missed opportunities for inclusive development that can be facilitated by engaging in data-sharing through strong international cooperation.... [M]ost small, developing economies will lose opportunities for raising their digital competitiveness." 

The rest of the statement can be found here.

Media Contact: Kira Yevtukhova, kyevtukhova@uscib.org

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SOURCE United States Council for International Business

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Government

“The Real President Is Whoever Controls The Teleprompter”: Musk Delivers Scathing Criticism Of Biden

"The Real President Is Whoever Controls The Teleprompter": Musk Delivers Scathing Criticism Of Biden

Authored by Jack Phillips via The Epoch…

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"The Real President Is Whoever Controls The Teleprompter": Musk Delivers Scathing Criticism Of Biden

Authored by Jack Phillips via The Epoch Times,

Tech billionaire Elon Musk this week warned that the United States must take steps to address inflation or it will end up like socialist Venezuela.

Musk, who is currently in the process of acquiring Twitter, told a virtual conference that he believes the government has printed too much money in recent years.

“I mean, the obvious reason for inflation is that the government printed a zillion amount of more money than it had, obviously,” Musk said, likely referring to COVID-19 relief stimulus packages worth trillions of dollars that were passed in recent years.

U.S. inflation rose by 8.3 percent in April, compared with the previous year. That’s slightly lower than the 8.5 percent spike in March, but it’s still near the 40-year high.

“So it’s like the government can’t … issue checks far in excess of revenue without there being inflation, you know, velocity of money held constant,” the Tesla CEO said.

“If the federal government writes checks, they never bounce. So that is effectively creation of more dollars. And if there are more dollars created, then the increase in the goods and services across the economy, then you have inflation, again, velocity of money held constant.”

If governments could merely “issue massive amounts of money and deficits didn’t matter, then, well, why don’t we just make the deficit 100 times bigger,” Musk asked. “The answer is, you can’t because it will basically turn the dollar into something that is worthless.”

“Various countries have tried this experiment multiple times,” Musk said.

“Have you seen Venezuela? Like the poor, poor people of Venezuela are, you know, have been just run roughshod by their government.”

In 2018, Venezuela, a country with significant reserves of oil and gas, saw its inflation rise more than 65,000 percent amid an economic crash that included plummeting oil prices and government price controls. The regime of Nicolas Maduro then started printing money, thereby devaluing its currency, which caused prices to rapidly increase.

During the conference, Musk also said the Biden administration “doesn’t seem to get a lot done” and questioned who is actually in charge. 

“The real president is whoever controls the teleprompter,” he said.

“The path to power is the path to the teleprompter.”

“The Trump administration, leaving Trump aside, there were a lot of people in the administration who were effective at getting things done,” he remarked.

Musk’s comment about the White House comes as Jeff Bezos, also one of the richest people in the world, has increasingly started to target the administration’s economic policies. Bezos, in a series of Twitter posts, said the rapid increase in federal spending is the reason why inflation is as high as it is.

“Remember the Administration tried their best to add another $3.5 TRILLION to federal spending,” Bezos wrote on Monday, drawing rebuke from several White House officials. “They failed, but if they had succeeded, inflation would be even higher than it is today, and inflation today is at a 40-year high.”

Tyler Durden Tue, 05/17/2022 - 15:05

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Economics

Summit Healthcare REIT, Inc. COO/CFO Elizabeth Pagliarini participates in the 9th Annual IMN Real Estate CFO & COO Forum

Summit Healthcare REIT, Inc. COO/CFO Elizabeth Pagliarini participates in the 9th Annual IMN Real Estate CFO & COO Forum
PR Newswire
LAGUNA HILLS, Calif., May 17, 2022

LAGUNA HILLS, Calif., May 17, 2022 /PRNewswire/ — Elizabeth Pagliarini, COO…

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Summit Healthcare REIT, Inc. COO/CFO Elizabeth Pagliarini participates in the 9th Annual IMN Real Estate CFO & COO Forum

PR Newswire

LAGUNA HILLS, Calif., May 17, 2022 /PRNewswire/ -- Elizabeth Pagliarini, COO/CFO of Summit Healthcare REIT, Inc. ("Summit") joined five other industry leaders on the Executive Roundtable at the 9th Annual IMN Real Estate CFO & COO Forum at the Monarch Beach Resort in Dana Point, California. The panelists shared their thoughts and experiences regarding the post pandemic environment, namely the recovery progress and how businesses are changing, trends in tenant lease terms, and the transition back to working in the office and its implications for new hires. They also provided insights into the availability of financing and how terms have changed over the past six months, how they are managing supply chain crises, rising costs of sourcing and materials, and staffing shortages, the changes made to core processes over the past 18 months and whether these changes would be permanent, and how investor communications have changed in recent months.

About Summit Healthcare REIT, Inc. 
Summit is a publicly registered non-traded REIT that is currently focused on investing in seniors housing and care real estate located throughout the United States. The current portfolio includes interests in 53 facilities in 14 states. Please visit our website at: http://www.summithealthcarereit.com

This material does not constitute an offer to sell or a solicitation of an offer to buy Summit Healthcare REIT, Inc. 

This release may contain forward-looking statements relating to the business and financial outlook of Summit Healthcare REIT, Inc. that are based on our current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. A number of important factors could cause actual results to differ materially from any forward-looking statements contained in this release. Such factors include those described in the Risk Factors sections of the Company's annual report on Form 10-K for the year ended December 31, 2021, and the quarterly report for the period ended March 31, 2022. Forward-looking statements in this document speak only as of the date on which such statements were made, and we undertake no obligation to update any such statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

CONTACT
Chris Kavanagh
(800) 978-8136
ckavanagh@summithealthcarereit.com

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SOURCE Summit Healthcare REIT, Inc.

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