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- No Ad | March 12th, 2024
No Ad | March 12th, 2024
MOST ANTICIPATED EARNINGS TODAY
MARKETS AT A GLANCE
| Index/Asset | Day | Month | Year |
|---|---|---|---|
| Dow | ▲0.12% | ▲0.29% | ▲21.84% |
| S&P | ▼0.11% | ▲1.81% | ▲33.45% |
| Nasdaq | ▼0.41% | ▲0.24% | ▲45.08% |
| Bitcoin | ▲4.46% | ▲49.37% | ▲197.83% |
| 10-Year | ▲0.37% | ▼1.16% | ▲17.09% |
[ good morning ]
Here’s everything you need to know today
Well, inflation came back a little higher than the market wanted to see. But enough companies are showing efficiency despite that, so markets are more flat than anything. The Street really wanted to see a bigger inflation beat here, but since prices aren't spiraling out of control, cyclical price fluctuations can help cool things off before the summer.
So, the real key moment for this rally comes at next week's FOMC meeting. Is inflation holding steady enough for Jerome Powell to announce a proper timeline for rate cuts? Or, does the Fed need to activate the nuclear option and consider one last rate hike to fully crush rising prices? Until we get a clearer roadmap, expect more volatility. Let's examine the main drivers of today's price action and try to find long-term trends.
 | TRAVEL |
BREAKING NEWS
Southwest Airlines stock is falling fast this morning after the company was forced to update their 2024 outlook thanks to Boeing not being able to deliver enough planes this year.
WHAT HAPPENED
Southwest had decently optimistic guidance for 2024 thanks to investments the airline made in expanding their capacity. The only issue there is that Southwest’s sole supplier is Boeing. With Boeing suddenly facing a whirlwind of scrutiny and process overhauls—the firm just can’t get enough planes to Southwest. Southwest published a filing this morning that outlined how Boeing now expects to only deliver ~46 737 Max 8 planes in 2024. Southwest was counting on nearly 60 in order to properly expand their capacity. Now, Southwest says they are in the process of “reevaluating all prior full year 2024 guidance, including the expectation for capital spending.”
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 | BIG TECH |
BREAKING NEWS
Just when the AI rally was starting to lose steam—the old-school big tech titan Oracle posted a massive spike in profits that indicated spreading AI investment. The party has a little life left in it.
WHAT HAPPENED
Oracle generated a wild $1.41 EPS from $13.28 billion in revenue. Technically, Oracle ever-so-slightly, missed revenue expectations, but that EPS figure came in so much higher than the market expected that investors are piling back into the stock. The Street assumed that Oracle’s hypergrowth days might be behind them and have been effectively avoiding the stock during this last bull run.
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 | RETAIL |
BREAKING NEWS
Kohl’s pulled off an incredible turnaround and became profitable again to finish 2023. Is that going to be enough to keep their latest rally going?
WHAT HAPPENED
Kohl’s has been fighting for efficiency for the past two years, and they’ve been making real progress since September of last year. They capped off their recent recovery by posting a solid net income of $186 million. This time last year, Kohl’s generated a $273 million loss from roughly the same amount of revenue—so the turnaround is real here. However, revenue came in slightly below expectations, and that’s muddying the results here.
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What You Missed Yesterday
Japanese Economy Narrowly Dodges Recession Reddit Seeks $5.5 Billion in IPO Boeing Crashes on DOJ Probe | Congressman Gottheimer's High-Stakes Microsoft Trades Spark Debate JPMorgan Champions $70k Bitcoin Over Gold in Latest Investment Analysis Fox Corp., Disney, and Warner Bros. Discovery Target Sports Streaming Success |
Extra Moby Snacks
Despite improving revenue and crushing their losses—On Running got dumped by the market this morning as the brand can’t live up to the Street’s lofty growth expectations. The stock fell over 10%.
Asana stock slipped hard in early trading as the software firm simply cannot meet Wall Street’s expectations. The company posted a solid revenue beat, but a loss the Street doesn’t have the stomach for. Their stock fell over 5% this morning.