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    • Breaking News
    Jan 14, 2025
    • Wall Street indexes advanced, and investors reviewed the first of two inflation reports amid heightened attention to underlying drivers after a strong jobs market report. 

      The S&P 500 index increased 0.4%, and the Nasdaq Composite advanced 0.5% after the producer price index rose less than expected in December. 

      The measure of the wholesale price index rose 0.2% from the previous month, and the core index, which excludes volatile food and energy prices, was flat, according to a report released by the Bureau of Labor Statistics Tuesday. 

      On an annual basis, producer price inflation accelerated to 3.3% in December from 3.0% in the previous month, and the core rate of inflation advanced to 3.5%. 

      Market participants are sensitive to inflation reports after nonfarm payrolls expanded by faster-than-expected 256,000 in December, confirming that the jobs market is too strong for the Federal Reserve to lower rates at its next meeting, later in the month. 
      • Jan 13, 2025
      • Lululemon Athletica increased 1.9% to $403.29 after the specialty apparel retailer lifted its fourth quarter sales outlook. 

        The company now estimated sales to increase between 11% and 12% to between $3.56 billion and $3.58 billion, higher than the previous range between $3.48 billion and $3.51 billion. 

        The company is now forecasting its earnings per share to range between $5.81 and $5.85 compared to the previous estimate between $5.56 and $5.64. 
        • Moderna Inc. declined 20% to $33.72 after the biotech company lowered its 2025 revenue range to between $1.5 billion and $2.5 billion, a decrease of $1 billion from the previous estimate as the company continues its operating costs. 

          The revised outlook is lower than the previous outlook between $2.5 billion and $3.5 billion issued in September. 
          • Dec 25, 2024
          • New single-family home sales in November were at a seasonally adjusted annual rate of 664,000, an increase of 5.9% from October, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. 

            New home sales rose from the revised October rate of 627,000 and jumped 8.7% from a year-ago rate of 611,000.

            The median sales price of new homes sold in November was $402,600, and the average sales price was $484,800.

            New home sales in the Midwest advanced 10% from a year ago to 88,000; in the South, they rose 13.6% to 419,000; fell 1.4% to 136,000; and dropped 11.5% to 23,000.
            • Dec 23, 2024
            • New orders for manufactured durable goods in November, down three of the last four months, declined from the previous month, led by the weakness in transportation orders. 

              New orders decreased $3.0 billion, or 1.1%, from the previous month or fell 1.3% from a year ago to $285.1 billion, the U.S. Census Bureau announced today. 

              This followed a 0.8% October increase. 

              Excluding transportation, new orders eased 0.1%; excluding defense, new orders fell 0.3%. 

              Transportation equipment orders, also down three of the last four months, drove the decline with a fall of $2.9 billion, or 2.9%, to $95.5 billion.

              However, closely watched proxy for business spending, non-defense capital goods excluding aircraft advanced 0.7%, the fastest increase since August 2023, and reversing the fall of 0.1% in October. 
              • Dec 20, 2024
              • FedEx Corp. increased 6.8% to $294.30 after the parcel delivery company reported its quarterly results and announced spinning off its freight business. 

                Revenue in the fiscal second quarter was flat at $21.96 billion from $22.16 billion; net income edged down to $741 million from $900 million, and diluted earnings per share eased to $3.03 from $3.55 a year ago. 

                The company repurchased 3.7 million of its own shares for $1 billion in the quarter, and about $3.1 billion remained available under the current stock repurchase program. 

                FedEx said it plans to separate its freight business as a publicly listed company and complete the transaction over the next 18 months. 

                The parcel delivery company estimated fiscal 2025 revenue to be flat compared to the previous estimate of an increase in single-digit percentage. 

                The company estimated diluted earnings per share before the retirement plan-related adjustments. between $16.45 and $17.45, compared to the previous estimate between $19.0 and $20.0. 
                • Nike Inc. declined 4.8% to $72.83 after the athletic shoemaker reported fiscal second quarter sales declined and the company forecasted weaker sales in the fiscal third quarter. 

                  Revenue in the fiscal second quarter ending in November decreased 8% to $12.4 billion from $13.4 billion, net income fell 26% to $1.2 billion from $1.6 billion, and diluted earnings per share eased to 78 cents from $1.03 a year earlier. 

                  Nike's sales have been affected by the lack of new products and higher levels of discounting, which are also affecting gross margin. 

                  The company estimated gross margin to decline between 3.0% and 3.5% in the holiday quarter. 
                  • Dec 19, 2024
                  • Existing home sales advanced 6.1% from the previous year to an annual rate of 4.15 million, according to the latest data released by the National Association of Realtors. 

                    Home sales rose at the fastest pace since June 2021, and more buyers returned to the market as the economy continued to create new jobs. 

                    Single-family home sales advanced 5% from the previous month to a seasonally adjusted annual rate of 3.76 million in November, and advanced 7.4% from the previous year. 

                    The median existing single-family home price was $410,900 in November, an increase of 4.8% from a year ago.

                    Home prices advanced in all four regions, and the median price for all housing types rose to $406,100, an increase of 4.7% from $387,800 a year ago. 

                    The share of first-time home buyers increased to 30% in November from 27%, and cash sales accounted for 25% compared to 27% in the previous month, respectively. 

                    Individual investors or second-home buyers, who make up many cash sales, purchased 13% of homes in November, down from 17% in October and 18% in November 2023.
                    • Dec 18, 2024
                    • Housing starts in November unexpectedly declined and dropped to the lowest level in four months, according to the U.S. Census Bureau. 

                      Privately owned housing starts were at a seasonally adjusted annual rate of 1.289 million, 1.8% below the revised level of 1.312 million, and 14.6% below the rate of 1.51 million in the month a year ago. 

                      Building permits, authorized housing but not started yet, were at a seasonally adjusted rate of 1.505 million in November, an increase of 6.1% from the previous month but 0.2% below the rate in the month a year ago. 

                      However, housing completions were at a seasonally adjusted rate of 1.6 million in November, a decline of 1.9% from the previous month and an increase of 9.2% from a year ago. 

                       
                      • The Federal Reserve cut its overnight lending rate range by 25 basis points to between 4.25% and 4.50% and also signaled a possible rate cut of 50 basis points in 2025. 

                        The possible rate-cut outlook was revised to 50 basis points from the previous estimate of 100 basis points, denting market enthusiasm and halting the roaring bull market. 

                        The Federal Reserve raised its economic growth and inflation estimate but lowered its unemployment rate outlook, prompting many investors on Wall Street to forecast the Fed to pause rates at the end of its next meeting in January. 

                        The Fed revised its GDP growth estimate in 2024 to 2.5% from the previous estimate of 2.0% in September, the unemployment rate to 4.2% from 4.4%, and PCE price inflation to 2.4% from 2.3%, respectively.