More details and answers will be made available “over the coming weeks.” This is a bright new chapter for us where we can focus on what we do best, bringing you the best possible podcasting experience we can. Update 7/17: In an email to users, the Pocket Casts team says it doesn’t “expect you to notice any immediate changes to the way Pocket Casts works.” They tout this “exciting transition” as making possible a “bigger and better” app. Automattic, which is known for and bought Tumblr from Verizon in 2019, announced that its now acquiring Pocket Casts. “If those numbers come in and are really, really, really strong, that could be this idea that too much good news is bad news from a Fed perspective,” Carlson said.Back in January, it emerged that Pocket Casts was up for sale by its public radio consortium owners. jobs report, the data has led investors to push up expectations for how high the Fed will raise rates and how long they will stay elevated, with futures now pricing in a peak rate of over 5.2% in July.Įxtremely robust retailer earnings could fuel worries about a more hawkish response from the Fed, said Chuck Carlson, chief executive officer at Horizon Investment Services. consumer prices accelerating and monthly producer prices increasing by the most in seven months in January. Investors next week will also focus on Wednesday’s release of minutes from the Fed’s latest meeting, when the central bank scaled back its rate hikes to a quarter-point after a year of heftier raises. “With the mass retailers, it’s just harder to identify what is going to make them grow.” “We are clearly emphasizing retailers in select industries versus the mass market retailers,” Tuz said. His firm holds shares of a variety of retailers including discounter Dollar Tree and specialty retailers Crocs and Ulta Beauty, but does not own broad retailers like Walmart and Amazon. Peter Tuz, president of Chase Investment Counsel, said he will be watching to see if retailers have been able to push up prices to match their costs. retail stocks versus the market – )Īmong the other retailers set to report in the coming week are TJX Companies and Bath & Body Works. They rate Walmart shares “neutral” and Home Depot as “overweight.” (GRAPHIC: U.S. “We expect HD and WMT’s tone on guidance and the consumer to be cautious at best,” the JPMorgan analysts wrote in an earnings preview note this week. Both companies are set to report on Tuesday and will “set the stage for everyone else,” according to JPMorgan retail analysts. home improvement chain, are also up 1.7%. Shares of Walmart, the world’s largest retailer by sales, have gained only 1.7% in 2023, while shares of Home Depot, the top U.S. But the performance has been less rosy for some of the biggest companies. The SPDR S&P Retail ETF, which weights small and large companies fairly evenly, has jumped 17% this year. Retail stocks have put up mixed returns so far in 2023. The S&P 500 has gained 6.5% so far in 2023 as of Thursday, with stocks bouncing back from a brutal performance last year. Other companies set to report next week include chip company Nvidia, COVID-19 vaccine maker Moderna and e-commerce firm eBay. Stocks have run up despite underwhelming fourth-quarter earnings that has S&P 500 firms on track to post a 2.8% drop in profits from the year-ago period, according to Refintiv IBES. Nolte is considering buying home-improvement retailer stocks that were hit hard in 2022 as the housing market struggled. “The retail sales numbers were reasonably strong, and we want to see that confirmation come from the retailers themselves,” said Paul Nolte, market strategist at Murphy and Sylvest Wealth Management. retail sales increased by the most in nearly two years in January. One sign of economic resilience came in the past week, when monthly data showed U.S. How consumers are faring amid soaring prices will be a critical topic for investors, as some have become more confident that the economy will be able to avoid a severe downturn even as the Federal Reserve continues hiking rates to tamp down inflation. stock market rally, as investors gain insight into the health of consumer spending and the fallout on company bottom lines from inflation.Īs a tepid fourth-quarter results season comes to an end, Walmart and Home Depot are set to report in the coming week, with other high-profile retailers including Best Buy and Lowe’s due the following week. Earnings results from major retailers in the coming weeks will test the strength of the U.S.
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