“I don’t think so and I certainly hope not,” Powell said. “There’s no reason why the expansion can’t continue. There’s nothing about this expansion that is unstable or unsustainable.”
Powell said the U.S. economy is in a “very good place,” pointing to job creation and moderate growth in a sluggish global growth environment. Despite weak manufacturing numbers, Powell said trade-related uncertainties have “diminished.”
Coronavirus risk not yet “material”
The Fed appears poised to hold rates steady at the current range between 1.5% to 1.75%, insisting that only a “material” change in the outlook would push the Fed to make a move on rates.
Powell said the coronavirus-related impacts on the U.S. economy would have to be “persistent” for the Fed to deem it a material change.
We are again in the stock earnings period, and stock earnings calendar are set to add volatility in the stock market. Notable earnings today are:
“At least one beneficiary has emerged from Boeing’s ongoing mess with its flagship plane. Airline giant Delta (DAL) posted fourth quarter profits that beat Wall Street’s estimates — citing an influx of customers that fled rivals because of canceled flights stemming from the 737 MAX’s grounding. The stock surged over 4% in pre-market action from Monday’s close.”
“JPMorgan shares rise after big Q4 earnings beat Shares of JPMorgan Chase (JPM) jumped more than 1.5% in early trading after the largest U.S. bank by assets reported much stronger than expected fourth-quarter results.
Here were the key figures versus the expectations, according to analysts polled by Bloomberg.
Revenue (adjusted): $29.2 billion vs $27.9 billion expected.
Earnings per share (adjusted): $2.57 vs $2.36 per share expected
CEO Jamie Dimon highlighted a more constructive geopolitical and macroeconomic backdrop as helping buoy the bank to record revenue and net income in the fourth quarter.”
Stock futures today point to a flat open, as earnings kick off, and can move the stock market, and stocks that miss or beat earnings expectations. We will monitor S&P 500 earnings calendar and earnings reports to watch this week.
” The stock market could have its day of reckoning over the next few days if earnings don’t live up to investors’ optimism.
The US stock market is approaching a do-or-die moment as US companies struggle to live up to investors’ lofty expectations.
The market’s valuations have become stretched, creating near impossible growth expectations for 2020.
This week as earnings season kicks off, investors can get a sense of whether or not the market can keep going.
Warnings about a US stock market crash have been plentiful over the past month as several key events threatened to take down the bull market we’ve all grown to love.
Stock market news. Stock trading, stock investing. These stocks made a 52-week low on Friday, January 10, 2020. Investing in stocks is risky, so further due diligence is required for these stocks. Here are these stocks making 52-week lows:
1. Sprint Corporation (S), close 4.8800-0.1200 (-2.40%)
2. Spirit AeroSystems Holdings, Inc. (SPR), close 69.70-3.09 (-4.25%)
3. Woori Financial Group Inc. (WF), close, 27.15-0.47 (-1.70%)
4. Qurate Retail, Inc. (QRTEA), close 8.50+0.54 (+6.78%)
5. Cinemark Holdings, Inc. (CNK), close 31.13+0.13 (+0.42%)
6. Six Flags Entertainment Corporation (SIX), close 35.96-7.80 (-17.82%)
7. Virtu Financial, Inc. (VIRT), close 15.22-0.62 (-3.91%)
Jobs report: U.S. economy adds 145,000 jobs in December, unemployment rate holds at 3.5%
“The U.S. labor market capped off 2019 with fewer than expected job gains and decelerating wage growth. The joblessness rate, however, held at a 50-year low.
Here were the main results from the Department of Labor’s report Friday compared to consensus estimates compiled by Bloomberg:
Change in non-farm payrolls: +145,000 vs. +160,000 expected and +256,000 in November
Unemployment rate: 3.5% vs. 3.5% expected and 3.5% in November
Average hourly earnings, month on month: +0.1%vs. +0.3% expected and +0.3% in November
Average hourly earnings, year on year: +2.9%vs. +3.1% expected and +3.1% in November
The latest jobs report included downward revisions to both October and November’s payroll gains. New jobs in October totaled 152,000, down 4,000 from the previous estimate. And payrolls in November were revised down by 10,000 to 256,000.”. Source: Yahoo Finance.