To begin their trading day, investors should be aware of the following key news items:
1. In stock
As they get ready to wrap out a wild week, stock futures are higher on Friday morning. This week, the Dow Jones Industrial Average has gained 1% after a selloff and rebound due to the Fed. After a significant week of tech results (more on that below), the broad S&P 500 is up 0.3% and the tech-heavy Nasdaq Composite is down 0.6%. Keep up with real-time market updates.
2. Getting back on course
With Amazon and Meta releasing upbeat reports and experiencing significant stock rises after market close, Thursday was a completely new day for tech earnings. Wall Street projections for revenue and earnings were easily surpassed by Amazon as cost-cutting increased profits.
3. For employment
According to a new survey by outplacement agency Challenger, Grey and Christmas, January witnessed the greatest number of layoffs since early last year, with over 82,000 people lost their jobs. The second-highest layoff total in a data collection dating back to 2009, the cutbacks represented a 136% rise from December.
4. Poor rebound
For Amer Sports on Thursday, it wasn’t quite an ace. The Finnish manufacturer of Arc’teryx outerwear and Wilson tennis rackets made its New York Stock Exchange debut, starting and closing at $13.40 following a discounted pricing for the initial public offering. With the gains, the first-day pop was only 3%. With only a small portion of the shares offered being traded at the debut, there were early indications of minimal sell-side activity.
5. A feeling from Main Street
Who is suffering from inflation? Small business owners are more upbeat to begin the year, despite some enduring macroeconomic difficulties. 75% of small business owners expressed optimism about their financial trajectory in 2024, up from 68% a year earlier, according to a Goldman Sachs 10,000 Small Business Voices poll.
Source (CNBC)
