Stock market showed some signs of recovery in the initial hours after the major indices experienced significant decline on Wednesday (18 Dec) due to FOMC’s decision which suggested that interest rates are expected to remain elevated for an extended period. The market breadth was positive, with gains in mega-cap stocks providing an additional boost. But we saw the market conditions began to deteriorate as the trading session progressed which resulted in S&P 500 and NASDAQ closing 0.09% and 0.10% lower than the previous day. This decline was deemed to be due to rising interest rates and a downturn in mega-cap stocks. Lower Weekly Initial Claims Seem To Suggest Reluctance To Lay Off Staff On Thursday, we have the economic data showing weekly initial claims came in at 220K with consensus a
Palantir On Roller Coaster Ride, Next Price Target To Consider For Entry?
$Palantir Technologies Inc.(PLTR)$ have been going through a roller coaster since it was preparing to join the Nasdaq 100, and was down on Monday (16 Dec 2024). The slip on Monday was due to holiday profit-taking after another counseled caution on chasing the hot AI stock according to one analyst. 4% was shed on Monday early session but recover later in the trading session. Palantir eventually close at 75.75 after NASDAQ say it will be added to Nasdaq 100 before the market open on 23 December 2024. Why I Hold Back Taking Some Profit On Palantir I have been holding Palantir for almost 1 one year, and have previously bought and sold Palantir before. That was the time when the concern over its high valuation hit me. So for now, I am expecting Palanti
18 Dec Market Session Disappointing Over Concerns On Fed Rate-Cut Campaign
Wednesday market was still hesitating and Initially, the major indices traded slightly higher until selling intensified at 2:00 ET before the Fed Chair speech at 2.30 ET, after which, investors express concerns over the Fed pausing its rate-cut campaign, indicating that rates may remain higher for longer. This sentiment followed the FOMC's decision to cut rates by 25 basis points to 4.25-4.50%, as anticipated. The decision was not unanimous, with Cleveland Fed President Hammack dissenting in favor of maintaining the target range for the fed funds rate at 4.50-4.75%. S&P 500 declined by 2.95% with 178 points, NASDAQ dropped by 3.56% while DJIA closed over 1,100 points lower to end the session with -2.58%, making DJIA tenth consecutive decline. Despite the decline some stock managed to r
Nike (NKE) Inventory Reduction With New Strategy Might Help Earnings
$Nike(NKE)$ is scheduled to report earnings on Thursday (19 Dec) after market close.This will be its first quarterly release since new CEO Elliott Hill took over in October. Nike's (NKE) stock is expected to rebound over time as signs emerge that the sportswear giant's turnaround efforts under a new chief executive are materializing. Nike shares have been down about 5% since it announced in September the return of former longtime executive Elliott Hill as CEO, As a result, Nike withdrew its full-year guidance in October and postponed its investor day.Nike is expected to post earnings per share of $2.50 and $2.80 for fiscal 2025 and 2026, respectively, compared with its prior projections of $2.75 and $3.10. The earnings per share for the fiscal Q2 2
17 Dec Market Hesitated Ahead Of FOMC Rate Decision
We saw the major U.S. equities indexes hesitated as the Federal Reserve kicked off its final two-day policy meeting of 2024. While the central bank is widely expected to announce a third consecutive interest rate cut on Wednesday afternoon, investors are likely preparing to comprehend the message and language in the accompanying statement and the subsequent press conference with Fed Chair Jerome Powell for suggestions about what is in store for next year (2025). The S&P 500 slipped 0.39%, while the NASDAQ lost 0.32%. The DJIA finished 0.61% lower, extending its losing streak to nine straight negative trading sessions. U.S. equities were lower in early afternoon trading, with the DJIA losing streak continuing and the NASDAQ falling from its record high yesterday. Health Care Stocks Rema
Accenture (ACN) Consulting New Bookings Significant Improvement Might Be Key To Earnings Surprise
$Accenture PLC(ACN)$ is scheduled to release first-quarter fiscal 2025 results on 19 Dec before market open. Consensus estimate for the bottom line have been expected for quarterly earnings of $3.38 per share in its forthcoming report, representing an increase of 3.4% year over year. Revenues are projected to reach $17.18 billion, increasing 5.9% from the same quarter last year. Accenture business optimization strategy to lower structural costs is anticipated to have driven the bottom line. Accenture's Revenue Streams Accenture's revenue streams consist of: Outsourcing revenues: Income generated from services and capabilities offered to manage and transform clients' systems and the running of business functions; Consulting revenues: Income from tec
16 Dec Stocks Mixed As Investors Prepare For Fed Decision On Wednesday
On Monday (16 Dec) we saw stocks trading in a mixed mode similar to last Friday, as investors prepare for the Federal Reserve's decision this week on interest rates, while bitcoin surged to a record high. NASDAQ rose by 1.24% and S&P 500 gained 0.38% though both indexes closed below their session highs. On the hand, DJIA ended the session 0.25% lower after trading higher initially. The S&P 500 was coming off its first losing week in the past month, while the tech-heavy Nasdaq Composite is riding a four-week winning streak after crossing 20,000 points for the first time last week. Investors capitalized on the recent market weakness following last week's pullback, aligning with a typically strong period for equities in the latter half of December. At the start of the session, advance
Micron (MU) Earnings Could Be Driven By Increased DRAM Demand
$Micron Technology(MU)$ is expected to release earnings on 18 Dec2024 after the market closes (AMC). MU last reported earnings on 25 Sep 2024 after the market close (AMC). MU shares gained +14.7% the day following the earnings announcement to close at 109.76. Following its earnings release, 82 days ago, MU stock has drifted -1.4% lower. From the time it announced earnings, MU traded in a range between 95.53 and 114.30. The last price (108.26) is closer to the higher end of range. Micron is expected to deliver $8.71 billion in revenue and $1.76 in adjusted earnings per share (EPS) on Wednesday. But as investors we should also look out for the company forward guidance and outlook for 2025. Demand For DRAM In PC and Handset Might Set To Increase Favori