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The Daily Noise

Latest newsletter: 6/12/2023


  • Market Close & Worth the Read

  • Earning(s) Reports Today

  • Striding Towards Record Highs: A Peek into the U.S. Stock Market and Impending Federal Decisions"

Market Recap: Today's stock market saw an uptick as traders prepared for a week filled with interest-rate decisions from key central banks. Tesla Inc. is on track to set a record winning streak fueled by a rush of positive news for the electric car maker. Consumer products and auto shares primarily drove the advance in Europe, while rising U.S. futures signal a further advance into bull-market territory for the S&P 500. Adidas AG also experienced a rally after receiving an upgrade from Bernstein analysts due to improved perceptions of the brand. Tesla shares continued to rise in premarket trading, marking a 12-day streak of gains, with the company's superchargers leading the race to become the industry standard in the U.S​.

What We're Reading:

• Jerome Powell’s Big Problem Just Got Even More Complicated (WSJ)

• UBS completes Credit Suisse takeover to become wealth management behemoth (RT)


Earnings Report(s) today:

Today, Oracle (ORCL) is releasing its earnings after the market closes. The consensus EPS is 1.58, compared to 1.54 last year.

Tuesday, June 13: Multiple economic data releases scheduled. These include the Loan Prime Rate from China, RBA Meeting Minutes from Australia, Industrial Production and Capacity Utilization data from Japan, PPI data from Germany, and Building Permits and Housing Starts data from the US. Lennar (LEN) will also release its earnings report after market close. The consensus forecast for its EPS is 2.31, down from 4.69 last year. The consensus forecast for quarterly revenue is $7.19 billion​

Wednesday, June 14: there are several economic data releases scheduled including the Westpac Leading Index from Australia, Inflation Rate, Core Inflation Rate, and PPI data from the UK, and Business Confidence and Capacity Utilization data from Turkey. Additionally, there are several data releases from the US related to the Mortgage market, and Aggregate Demand and Private Spending data from Mexico​.


Striding Towards Record Highs: A Peek into the U.S. Stock Market and Impending Federal Decisions"

Investors and market enthusiasts are on the edge of their seats as U.S. stock futures are inching towards record highs. Market players are eagerly anticipating pivotal economic data and a consequential Federal Reserve decision, both of which are expected to have a profound impact on the direction of the market.

Among the stocks making headlines are Oracle and Tesla. Oracle, the multinational computer technology corporation, is riding a wave of momentum following the release of a new product that has been highly anticipated in the market. Tesla, on the other hand, is basking in a string of positive news, with its superchargers poised to become the industry standard in the U.S., pushing the company towards a new winning streak.

The week ahead promises to be eventful with the release of crucial inflation data and the Federal Reserve's policy meeting being the main events to watch. The inflation data, expected to show whether the previous month's record high will hold or break, is generating significant buzz among investors. The Federal Reserve's policy meeting, too, is of paramount importance as it could indicate future monetary policy directions.

However, not everything is crystal clear in the world of finance. A debate is brewing among investors about whether the Fed might hike interest rates sooner than expected due to rising inflation concerns. This uncertainty adds another layer of intrigue to an already suspense-filled week, and market participants will be keenly observing how these events unfold.

As the week progresses, the anticipation is palpable, and the outcomes of these events could set the tone for the market's direction in the coming months. All eyes are now on the U.S. stock futures, inflation data, and the Federal Reserve's decision - a captivating mix of elements that could either catapult the market to new heights or bring a reality check to the ongoing optimism.

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