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Wall Street Today | US Stocks Gain on Embrace of Goldilocks Mood

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Moomoo Recap US wrote a column · Feb 15, 2023 18:35
Wall Street Today | US Stocks Gain on Embrace of Goldilocks Mood
MACRO
US Stocks Gain on Embrace of ‘Goldilocks’ Mood
“Retail sales for January were strong across the board, and together with the strong jobs report show a resilient economy,” Matt Peron, director of research at Janus Henderson Investors, wrote. “This notion is supporting the market’s current ‘Goldilocks’ mood where the economy is strong, but inflation is receding, albeit still too high.”
CBO Finds Government Could Be at Risk of Default ‘Between July and September’
A Congressional Budget Office report released Wednesday projects the date when the government will no longer be able to pay its debt obligations fully “will fall between July and September 2023," further shaping the contours of the coming debt ceiling fight on Capitol Hill.
The agency further warns that its projected exhaustion date — commonly known as the X date — remains uncertain due to ambiguity over how much in income tax receipts will come in this April.
SECTORS
Oil Hedging Ramps Up in Sign Market Is Stabilizing
Major oil producers, including Petroliam Nasional and $Hess Corp (HES.US)$ have locked in hedges to protect against falling prices in the latest sign that markets are stabilizing after an extremely volatile year that drove traders from the commodity.
COMPANY
Roku Shares Rise 10% on 4Q Streaming Growth, Revenue Beat
$Roku Inc (ROKU.US)$ shares rose over 10% to $70.65 in after-hours trading Wednesday after the company said users streamed more in the latest quarter and that advertising spending across certain verticals appears to be improving.
>>Read more
Cisco Stock Spikes After Earnings and Revenue Beat, Annual Forecast Raised
$Cisco (CSCO.US)$ blew away expectations for revenue growth in the holiday quarter, and executives predicted stronger growth in a revised annual forecast that sent shares higher in after-hours trading Wednesday.
>>Read more
10 Investors Score $117 Billion On Tesla Stock's Double 'Bubble'
The top 10 largest holders of $Tesla (TSLA.US)$ stock, including top ETF and mutual fund providers like Vanguard and $Blackrock (BLK.US)$ plus the Technoking Elon Musk himself, are collectively up $117 billion since the stock doubled from its 52-week (intraday) low on Jan. 6, says an Investor's Business Daily analysis of data from S&P Global Market Intelligence and MarketSmith.
That means just 10 investors made more on one stock — Tesla — in roughly five weeks than all investors made on 496 individual S&P 500 stocks during the same time.
Amazon to Push Out Europe Middlemen in Latest Cost-Cutting Move
$Amazon (AMZN.US)$ warned distributors in Europe that it will cease ordering from them next year in favor of buying products directly from brands, an effort to stem losses by cutting out some middlemen.
“As part of a procurement policy implemented at a European level, Amazon has decided to focus on sourcing brands directly from brand owners,” the email states. “You still have the opportunity to sell these products to customers directly on our store through Amazon Marketplace, as a third-party seller.”
Ford F-150 Lightning EV Production to Be Halted At Least Through End of Next Week
$Ford Motor (F.US)$ expects production of its electric F-150 Lightning pickup to be down through at least the end of next week to address a potential battery issue, the automaker said Wednesday.
The updated timing comes a day after Ford confirmed production of the highly watched vehicle had been suspended at the beginning of last week following one vehicle displaying a problem with the battery during a pre-delivery quality inspection.
Source: Bloomberg, Dow Jones, CNBC, Yahoo Finance
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
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