Wall Street Lunch: Small Biz Optimism Vs. AI Enthusiasm

seekingalpha04-10

Small business owners feel the pain while stock market bulls feel confident about inflation and rate cuts.Google unveils its latest in-house processors in a move to reduce reliance on outside vendors....

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AI Enthusiasm\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-10 01:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4682922-wall-street-lunch-small-biz-optimism-vs-ai-enthusiasm><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Small business owners feel the pain while stock market bulls feel confident about inflation and rate cuts.Google unveils its latest in-house processors in a move to reduce reliance on outside vendors....</p>\n\n<a href=\"https://seekingalpha.com/article/4682922-wall-street-lunch-small-biz-optimism-vs-ai-enthusiasm\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4576","symbol_name":"AR","start_time":0,"source_url":"https://seekingalpha.com/article/4682922-wall-street-lunch-small-biz-optimism-vs-ai-enthusiasm","article_id":"2426146756","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1412442269/image_1412442269.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2426146756","pubTimestamp":1712684940,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Small business owners feel the pain while stock market bulls feel confident about inflation and rate cuts.Google unveils its latest in-house processors in a move to reduce reliance on outside vendors.Silver can “play catch-up and outperform” - Roth MKM analysts.   We Are Listen below or on the go on Apple Podcasts and Spotify. Sales pessimism pushed NFIB index to lowest since December 2012.  Are high rates actually fueling inflation.  Top silver mining stocks.  This is an abridged transcript of the podcast. 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We Are Listen below or on the go on Apple Podcasts and Spotify \n\n\n\n\n\n\n\n\nSales pessimism pushed NFIB index to lowest since December 2012. (0:16) Are high rates actually fueling inflation. (1:47) Top silver mining stocks. (5:19) This is an abridged transcript of the podcast. Nvidia (NVDA) can rescue Wall Street, but can it help Main Street? Stock bulls are confident that AI enthusiasm will overcome fewer rate cuts and sticky inflation. But inflation continues to bite small business owners, who are the most pessimistic in more than 11 years. The NFIB March small business optimism index fell for the third straight month to 88.5. That's the lowest level since December 2012, and the 27th month in a row it's been below the historical average of 98. The net percent of small business owners raising average selling prices rose 7 percentage points to 28%, and the higher sales expectations index component dropped 8 points to -18. \"The retreat in the index lately is all the more notable given that the headline tends to be sensitive to the stock market, which has surged to new highs,\" Pantheon Macro economist Oliver Allen wrote. Compare the decade low in small business outlook to the continued bullish sentiment in the stock market. Last week, the Investors Intelligence survey showed bulls up to 62.5%, pushing the ratio of bulls to bears to 4.43, which is the highest since early 2018. The AAII weekly survey has bulls at 47.3% and bears at 22.2%. Wells Fargo analyst Christ Harvey says “In our view, the bull market, AI's secular growth story, and index concentration have shifted investors' attention away from traditional valuation measures and toward longer-term growth and discounting metrics.” But are high interest rates in fact driving inflation? Jack Manley at J.P. Morgan argued that it's time for the Federal Reserve to start easing to help stabilize prices. \"You slice and dice inflation, and whether you're looking at the headline number, whether you're looking at the core number, you're removing the goods equation—so much of it has to do with the rate environment,\" he told Bloomberg. Manley said the U.S. is in a \"peculiar chicken-and-egg type of situation where you're not going to see meaningful downward pressure on inflation until you see meaningful downward pressure on shelter costs.\" This can only happen if the Fed cuts rates, mortgages come down to a more reasonable level, and supply comes back online, he added. In today’s trading There’s some back-and-forth action going on in stocks and bonds as traders position for the CPI on Wednesday. The major averages are in the red, with the Dow (DJI) trailing. Rates are pulling back, with the 10-year Treasury yield (US10Y) back below 4.4%. David Bahnsen, chief investment officer at The Bahnsen Group, says, \"The latest PCE number makes pretty clear the pause in disinflation we saw in January and February was more of an anomaly and that the ongoing disinflation in core goods and especially shelter continues.\" \"The CPI data is always subject to being 0.1 point higher or lower than expected, but we expect the month-over-month CPI number on Wednesday to be in line with expectations, and the path to a low 2’s inflation read to be on track.\" Among active stocks Cannabis stocks were under pressure after Tilray Brands (TLRY) revised down its full-year outlook. The company set its fiscal 2024 guidance for adjusted EBITDA at $60 million–$63 million, down from its previous guidance of $68–$78 million. Tilray reported $188 million in net revenue for the quarter, falling short of Wall Street forecasts, while its loss per share of $0.12 also missed analysts’ expectations by $0.07 as gross margins contracted. Goldman Sachs initiated GE Aerospace (GE) with a Buy rating. They said the maker of jet engines, which this month spun off its energy business into a separate publicly traded company, was poised for growth with rebounding demand for new airplanes. Analyst Noah Popnak said, “GE Aerospace has high market shares in the aerospace engine oligopoly. Engines have great long-term cash flow characteristics with recurring revenue and pricing power in a long-term secular growth market.” Norfolk Southern (NSC) issued preliminary Q1 results on Tuesday. It delivered an adjusted operating ratio in line with guidance, which called for a seasonal increase of 100–200 basis points sequentially from Q4. An adjusted operating ratio of 69.9% is anticipated for the quarter vs. 69.0% consensus, and EPS of $2.49 is expected vs. $2.59 consensus. CEO Alan Shaw said, \"We achieved this result despite macroeconomic challenges and the continued impact of our revenue mix being weighted towards lower-rated traffic, including international intermodal, which continues to be a significant driver of volume growth.\" In other news of note Google (GOOG) (GOOGL) has unveiled its latest in-house processors to help address rising computing costs, handle more artificial intelligence-related workloads, and cut its reliance on outside vendors like Nvidia (NVDA). The new chips, known as Axion, are central processing units and are designed to help with tasks such as powering the company's eponymous search engine and AI-related work, according to a report in the Wall Street Journal. Based on chip designs from British design firm Arm (ARM), Axion chips are also adept at handling AI-related work in the data center, can help process large amounts of data, and handle the fact that the company's services are used by billions of people. And in the Wall Street Research Corner Silver (XAGUSD:CUR) is still almost 45% below its 2011 peak, while gold (XAUUSD:CUR) is reaching all-time highs. Roth MKM technical analysts say silver can “play catch-up and outperform.” Analyst JC O’Haray says, “A breakout of silver above $30 will suggest a $35.50 intermediate term price target, followed by $37.50, $44.30, and ultimately $50.00.” Among their top-ranked silver miner stocks are Fresnillo (OTCPK:FNLPF), Gold Resource (GORO), Coeur Mining (CDE), Gatos Silver (GATO), Pan American Silver (PAAS), and Silvercorp Metals (SVM).","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2426146756"}