- From SVB’s sudden collapse to Credit Suisse’s fallout: 8 charts show turbulence in financial markets MarketWatch
- First Republic is a hot mess. The reason has a lot to do with its wealthy clientele CNN
- First Republic’s earnings will be destroyed paying back interest on US$30B in deposits: Marenzi BNN Bloomberg
- Opinion: Yes, rescuing banks like First Republic rewards the reckless. No, that shouldn’t stop us Yahoo Finance
- First Republic Bank plans to raise cash by selling shares privately: The New York Times CNBC Television
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Tag Archives: Markets
RBC Capital Markets: Bank failures this week are not representative of the banking industry – CNBC Television
- RBC Capital Markets: Bank failures this week are not representative of the banking industry CNBC Television
- The global banking sector will see pressure until there’s clarity on liquidity concerns: Peter Kraus CNBC Television
- Regional banks will be a volatile group for some time, says Piper Sandler’s Siefers CNBC Television
- Apollo’s Jay Clayton weighs in on the DOJ and SEC’s investigations into SVB collapse CNBC Television
- Applying large banking regulations to small banks could cripple the sector: Mick Mulvaney CNBC Television
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US housing market is in recession, pandemic fueled inflation: Sonders – Markets Insider
- US housing market is in recession, pandemic fueled inflation: Sonders Markets Insider
- Bank of America CEO predicts most people won’t even notice ‘slight’ recession, but warns interest rates won’t come down for at least a year Yahoo Finance
- Bank of America CEO says ‘we are capitalists’ as anti-ESG critics gain steam Reuters
- Goldman’s Solomon Is More Confident the Fed Can Avoid a Deep Recession Bloomberg
- The economy has avoided a recession so far — and it could be a nightmare for the Fed Yahoo Finance
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Housing rebound: Home prices will enter growth cycle akin to 1980s-90s – Markets Insider
- Housing rebound: Home prices will enter growth cycle akin to 1980s-90s Markets Insider
- US home prices could plunge 20% amid risk of ‘deep’ housing slide, Fed economist warns Fox Business
- ‘I can’t afford to sell because I don’t want to lose that rate’: 3% mortgage rates will loom large over the U.S. housing market for years to come Fortune
- Decreased Competition from Home Ownership in Increasing Interest Rate Environment Novogradac
- U.S. home prices to fall 4.5% in 2023 despite higher rates: Reuters poll Reuters
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Salesforce’s Benioff sees recession with shades of past crashes – Markets Insider
- Salesforce’s Benioff sees recession with shades of past crashes Markets Insider
- Salesforce shocks Wall Street with ‘monster quarter’: Here’s what analysts are saying Yahoo Finance
- Salesforce CEO Marc Benioff: This Is How We’re Going To Win Yahoo Finance
- Salesforce’s Marc Benioff ‘wished he could employ staff for life’—now he’s asking if he should ‘unleash his inner Elon’ to slash staff headcount Fortune
- Salesforce earnings highlight how expectation beats can move markets, says Kari Firestone CNBC Television
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US stocks are in ‘death zone’ and could crash 26%, Morgan Stanley says – Markets Insider
- US stocks are in ‘death zone’ and could crash 26%, Morgan Stanley says Markets Insider
- Morgan Stanley Says S&P 500 Could Drop 26% in Months Yahoo Finance
- Investors have pushed stocks into the death zone, warns Morgan Stanley’s Mike Wilson MarketWatch
- Stocks are more expensive than at any time since 2007 – Morgan Stanley By Investing.com Investing.com
- Wall Street’s top strategist warns stocks have climbed into the ‘death zone’ where ‘they shouldn’t go and cannot live very long’ Yahoo Finance
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Fed Governor Warns Crypto Prices Could Fall to Zero — Says ‘Don’t Expect Taxpayers to Socialize Your Losses’ – Markets and Prices Bitcoin News – Bitcoin News
- Fed Governor Warns Crypto Prices Could Fall to Zero — Says ‘Don’t Expect Taxpayers to Socialize Your Losses’ – Markets and Prices Bitcoin News Bitcoin News
- U.S. Federal Reserve Governor Compares Crypto Assets to Baseball Cards, Argues They’re Just Speculative The Daily Hodl
- Federal Reserve Governor Compares Cryptocurrency to Baseball Cards VladTV
- Fed’s Waller says cryptocurrency buyers could lose their entire investments ZAWYA
- Fed’s Waller calls crypto ‘nothing more than a speculative asset’ Yahoo Finance
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Ford (F) earnings Q4 2022
Ford CEO Jim Farley takes off his mask at the Ford Built for America event at Fords Dearborn Truck Plant on September 17, 2020 in Dearborn, Michigan.
Nic Antaya | Getty Images
DETROIT – Ford Motor is set to report its fourth-quarter earnings after the bell Thursday. Here’s what Wall Street is expecting, according to Refinitiv consensus estimates:
- Adjusted earnings per share: 62 cents
- Automotive revenue: $40.37 billion
In October, Ford confirmed its prior full-year guidance of adjusted earnings before interest and taxes of between $11.5 billion and $12.5 billion. Through the first three quarters of the year, its brought in $7.9 billion, led by its North American operations.
If Ford meets or exceeds Wall Street’s top- and bottom-line expectations, EPS would more than double the 26 cents it reported for the same period a year earlier. Revenue would be an increase of 14.5% from the fourth quarter of 2021.
While investors will be monitoring the fourth-quarter results for signs of any waning consumer demand or profit dilution, Ford’s 2023 guidance is expected to be more of a focus.
Wall Street expects Ford’s full-year 2023 adjusted earnings per share outlook to mark a nearly 16% decline from 2022, according to Refinitiv estimates. That’s despite forecasting full-year revenue up 3.4% year over year to more than $151 billion, signaling lower operational profit compared with recent years.
Automakers have posted record or near-record results during the coronavirus pandemic amid a tight supply of new vehicles and resilient consumer demand. But that scenario is slowly normalizing, leaving new vehicle prices and profits in flux.
On Monday, Ford cut the price of its electric Mustang Mach-E, an early sign of a burgeoning EV price war spurred by Tesla.
Earlier Thursday, Ford reported January new vehicles sales that showed slight improvement over the same period last year.
There’s pressure on Ford to deliver a strong fourth quarter and relatively solid guidance. Crosstown rival General Motors on Tuesday significantly outperformed Wall Street’s expectations. The automaker also forecast stronger-than-expected 2023 results, including adjusted earnings before interest and taxes of $10.5 billion to $12.5 billion and adjusted earnings per share of between $6 and $7.
This is breaking news. Please check back for updates.
S&P 500 rises to the highest level in five months Thursday as Meta leads a tech comeback
The S&P 500 rose to its highest level in five months on Thursday as better-than-expected Meta results further improved sentiment around technology shares, which led the market lower last year.
The broader market index jumped 1.4%, or its best level since August. Meanwhile, the tech-heavy Nasdaq Composite advanced about 3% to its highest level since September. The gains come ahead of a trio of Big Tech results after the bell in Apple, Amazon and Alphabet.
Meanwhile, the Dow Jones Industrial Average underperformed, falling 102 points, or about 0.3%. The major index was dragged by Merck shares after the pharmaceutical firm issued a weak outlook in its latest earnings results, despite beating estimates on the top and bottom lines.
Meta surged more than 25% in its best day since 2013 after reporting a fourth-quarter beat on revenue and announcing a $40 billion stock buyback. That helped investors look past losses in the business unit overseeing the metaverse.
Other mega-cap tech stocks rose on the back of those results. Shares of Google-parent Alphabet were up more than 6%, while Amazon jumped more than 6%. Apple shares gained more than 3%.
Tech stocks have outperformed in 2023, buoyed by recent signals of cooling inflation that investors expect could lead to a pause from the Federal Reserve in its aggressive rate hiking campaign. The S&P 500 information technology sector is up more than 14% this year after a decline of more than 28% last year.
“It’s showing that growth is outperforming value as it unwinds some of the pressures that hawkish rhetoric brought to risk markets over the course of 2022,” said Keith Buchanan, senior portfolio manager at GLOBALT Investments.
Wall Street is coming off a winning session after the Fed on Wednesday announced a 0.25 percentage point interest rate hike. While the central bank gave no indication of an upcoming pause in rate hikes, investors were encouraged by the smaller increase and Chair Jerome Powell’s comments recognizing easing inflation.
Traders are awaiting the latest jobs report Friday that will give further insight into the labor market. Any signs of cooling could suggest to investors that further rate hikes are off the table.
European Central Bank raises rates by 50 basis points, pledges further hike in March
Christine Lagarde, president of the European Central Bank speaks at an event.
Bloomberg | Bloomberg | Getty Images
The European Central Bank on Thursday confirmed expectations of a 50 basis point interest rate increase, taking its key rate to 2.5%.
In a statement, it pledged to “stay the course in raising interest rates significantly at a steady pace” and, in unusually firm language, said it intended to hike by another 50 basis points in March.
It said keeping rates at restrictive levels would control price rises by dampening demand and keeping inflation expectations under constrained. Decisions at future meetings will be data-dependent, it added.
The move follows four hikes in 2022 which brought euro zone rates out of negative territory for the first time since 2014.
Euro zone inflation fell for the third straight month in January, flash figures published Wednesday showed, but headline inflation remained high at 8.5%. Core inflation, which excludes energy and food, was flat at 5.2%.
Attention now turns to Thursday’s speech and press conference by Lagarde, which begins at 2:45 p.m. Frankfurt time, for an indication of the central bank’s latest outlook on the economy and further details of its plans for hiking and quantitative tightening.
In December, it announced that from March it would begin to reduce its 5 trillion euro ($5.49 trillion) balance sheet by 15 billion euros per month on average until the end of June 2023.
On Thursday, it said that in line with current practice it would continue partial reinvestments of its maturing debt.
“The remaining reinvestment amounts will be allocated proportionally to the share of redemptions across each constituent programme of the APP (Asset Purchase Programme) and, under the public sector purchase programme (PSPP), to the share of redemptions of each jurisdiction and across national and supranational issuers,” its statement said.
This is a breaking news story. Please check back for updates.