Wall Street Today | Fed Set to Shrink Rate Hikes Again as Inflation Slows
MACRO
Fed Set to Shrink Rate Hikes Again as Inflation Slows
Federal Reserve officials are set to shift down the pace of interest-rate hikes again in the coming week amid signs of slowing inflation, while Friday’s jobs report may show steady demand for workers that improves the chances of a soft landing for the world’s largest economy.
“I expect that we will raise rates a few more times this year, though, to my mind, the days of us raising them 75 basis points at a time have surely passed,” Philadelphia Fed President Patrick Harker said on Jan. 20.“Hikes of 25 basis points will be appropriate going forward.”
The Bond-Market Comeback of 2023 Is Heading to First Big Test
The bond-market’s bulls are poised for the first major test of 2023.
Treasuries rallied this month on widespread anticipation that the Federal Reserve is nearing the end of its interest-rate hikes as inflation comes down and tighter financial conditions cool the economy. In the coming week, traders will find out if that’s likely the case as the central bank announces its latest decision and the monthly job-market report is released.
SECTORS
Tech Stocks Are Having Their Best January in Decades
Last time the Nasdaq rose this much in the first month of the year, it was 2001, and that year didn't end so well for tech stocks. The phrase 'dot-com bust' might ring a bell. Technology stocks are on quite a tear to start 2023, but that could actually be an ominous signal.
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Carmakers Face A Crossroads as They Work to Fit Auto Dealers into Their EV Plans
As automakers chase $Tesla (TSLA.US)$-like profits on new electric vehicles, they face an existential question: how best to bring franchised auto dealers along with them as they transition to EVs.
Some, such as $General Motors (GM.US)$ are asking luxury dealers to go all-in on EVs or get out of the business. Others like $Ford Motor (F.US)$ are offering dealers different “EV-certification” levels, while most other carmakers, or OEMs, know they need to change the sales process to fit the evolving industry, but are still trying to figure out how to do it.
Breakup of Google’s Ad Business Would Reshape $500 Billion Sector
Google spent the better part of two decades building the world’s most powerful digital advertising machine. Breaking it up would send shock waves through the $500 billion online-ad market. If the U.S. government wins the antitrust lawsuit it filed last week and the $Alphabet-A (GOOGL.US)$ internet company is required to spin off technology for brokering ad deals across the web, the separated businesses would be valued at tens of billions of dollars.
The big tech and media companies that could afford such a deal might face antitrust hurdles of their own. Some observers said that a spinoff would be more likely and that the resulting enterprise could become an acquirer in an ad-tech business crowded with small firms.
COMPANY
Chevron, Comcast, and 10 More Companies That Raised Their Dividends This Week
$Chevron (CVX.US)$, $Kimberly-Clark (KMB.US)$, $Archer Daniels Midland (ADM.US)$, and $Comcast (CMCSA.US)$ were among the large U.S. companies that announced dividend increases this week.
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Amazon Raises Price Minimum for Free Online Grocery Delivery
Starting Feb. 28, online Amazon Fresh grocery orders of less than $150 will incur delivery fees, $Amazon (AMZN.US)$ said in an email to Prime members.
Delivery charges will be $9.95 for orders under $50, $6.95 for orders between $50 and $100, and $3.95 for orders between $100 and $150. Currently, Prime members outside of NYC who spend more than $35 on Amazon Fresh grocery orders qualify for free delivery. In the city, the threshold is $50 for free delivery. Customers who order less than that pay a delivery fee of $4.99.
ChatGPT Spotlights Microsoft’s Early Efforts to Monetize AI
As the breakout success of OpenAI's ChatGPT triggers a tsunami of excitement over artificial intelligence, Microsoft Corp. is positioning itself at the forefront of what some see as the next wave of technological innovation.
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Source: Bloomberg, Dow Jones, CNBC
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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