Weekly stock market analysis – Macroeconomic updates, FOMC Meeting Minutes, PCE Price Index Inflation Report, Earnings from NVIDIA, Walmart, Home Depot and more.
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โฌ๏ธ Timestamps:
0:00 โ Macroeconomic Updates
2:35 โ FOMC Meeting Minutes
4:06 โ PCE Price Index Inflation Report
5:45 โ Earnings: NVIDIA
7:07 โ Earnings: Walmart (WMT)
7:48 โ Earnings: Home Depot (HD)
8:56 โ Upcoming Important Dates
In the January FOMC meeting minutes, Federal Reserve officials continued to anticipate further increases in borrowing costs would be necessary to bring inflation down to their 2% target when they met earlier this month, though almost all supported a step down in the pace of hikes.
The Personal Consumption Expenditure (PCE) Price Index, the Fed’s preferred inflation gauge unexpectedly accelerated in January and consumer spending surged after a year-end slump, adding pressure on policymakers to keep ratcheting up interest rates.
US economic growth in the fourth quarter was weaker than previously estimated, reflecting a downward revision to consumer spending as the Fed’s preferred inflation figures were revised higher.
Nvidia’s share price jumped after giving a bullish revenue outlook for the current quarter, suggesting that a push into artificial intelligence processors is helping offset sluggish demand for personal computer chips. The forecast signals that Nvidiaโs foray into AI computing chips is paying off as Its chips excel at the kind of parallel processing that allows computers to make sense of large amounts of data and train software to make decisions.
Walmart Inc. and Home Depot Inc. both gave cautious annual guidance Tuesday and warned that demand could moderate through 2023. At the same time, though, Walmartโs comparable store sales in the three months through January far exceeded analyst estimates.
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Disclaimer: The content on this channel is for educational purposes only and merely cites my own personal opinions. In order to make the best financial decision that suits your own needs, you must conduct your own research and seek the advice of a licensed financial advisor if necessary.
