Wall Street Today | Fed Officials Float Even Higher Rates After Brisk Inflation Data

Moomoo Recap US wrote a column · Feb 14, 2023 18:26

MACRO

Fed Officials Float Even Higher Rates After Brisk Inflation Data

Fed officials stressed the need for further interest-rate increases to help tame inflation, but expressed differing views about how close they are to stopping after new data showed signs of persistent price pressures.
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BofA Survey Shows Investors Expect Stock Rally to Fizzle Out

About 66% of participants in the bank's February survey said stocks are seeing a bear market rally — signaling they expect them to return to new lows. That's even as the share of investors expecting a global recession fell to 24%, down from a peak of 77% in November.

Biden Names Brainard as His Top Economic Adviser, Creating Fed Vacancy

President Joe Biden named Federal Reserve Vice Chair Lael Brainard as his top economic aide, plucking away one of the central bank's more dovish voices and creating a vacancy as it works to quash inflation.

SECTORS

Investors Pour Into Chinese Stock Funds

Investors have added more than $2 billion on a net basis this year to U.S.-based mutual and exchange-traded funds that buy Chinese equities, according to data from Refinitiv Lipper. That reflects five consecutive weeks of inflows.

Bond Market Keeps Inflation Expectations Elevated After CPI Data

In the wake of the CPI report, the so-called breakeven rate for five-year inflation-linked Treasuries - a proxy for inflation expectations over that time - remained above 2.5%, the highest since Dec. 5. The benchmark has climbed steadily from its mid-Jan low of 2.13% as jobs and inflation data suggested a lot more resilience in the economy than what the bond market expected at the start of the year.

COMPANY

Berkshire Dumps Shares in TSMC, Banks; Increases Apple Stake

Warren Buffett's $Berkshire Hathaway-B(BRK.B.US)$ cut its position in $Taiwan Semiconductor(TSM.US)$ by 86.2% to 8.29 million sponsored American depositary shares in Q4, according to a regulatory filing. Buffett also divested 91.4% of its shares in $U.S. Bancorp(USB.US)$ and shrunk its stake in $Bank of New York Mellon(BK.US)$ by roughly 60%. Berkshire bought another 20.8 million $Apple(AAPL.US)$ shares worth $3.2 billion, raising its stake to 5.8%.
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Airbnb Beats on Profit and Revenue, Stock is Up

Shares of $Airbnb(ABNB.US)$ rose about 9% in extended trading Tuesday after the company released fourth-quarter earnings that beat analysts' estimates on top and bottom lines.
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Tesla Employees Launch New York Union Campaign

$Tesla(TSLA.US)$employees in New York have launched a campaign to organize a union with Workers United Upstate New York, according to a release posted to Twitter on Tuesday. The union, Tesla Workers United, would be the first for Tesla if it is formed.

Ford Halts Production and Shipments of Its Electric F-150 Lightning Due to Potential Battery Issue

$Ford Motor(F.US)$ has paused production and shipments of its electric F-150 Lightning pickup due to a potential battery issue. The EV truck is being closely watched by investors, as it's the first mainstream electric pickup on the market and a major launch for Ford.

Source: Bloomberg, Dow Jones, CNBC, Yahoo Finance

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