top of page

Breakfast Bites - Wed Mar 22, 2023

Rise and shine everyone


It’s Fed day. We have to wait until 2pm ET for the rate decision. The press conference starts at 2:30pm and we’ll be sure to keep an eye out for what Powell says about the current financial conditions and the Summary of Economic Projections.


Mayhem and I will be on the Crudele show at 4pm ET talking about the Fed press conference. Catch the link on our Twitter pages.


A few earnings for today - Petco and Ollie’s Bargain Outlet before the open; Chewy and KB Homes after market close.


Asia and Australia

  • Asian markets higher overnight with Japan a standout, up nearly 2%, while Hong Kong jumped over 1.5% and South Korea added over 1%.

  • Economists expect Australian GDP growth will slow from 2.4% y/y in Q1 to 1% in Q4 2023

  • Citadel Securities ramps up China presence when others cut costs

  • Biden administration to stunt growth in China for chipmakers getting US funds

  • Tencent reports first annual revenue drop

Europe, Middle East, Africa

  • European markets narrowly mixed. ECB President Lagarde spoke this morning reassuring everyone that there is no trade off between price and financial stability. She reconfirmed having sufficient liquidity for the markets.

  • Inflation in the UK reaccelerated to to 10.4% in Feb from 10.1% in Jan. The BoE is expected to raise rates again tomorrow.

  • Moody's report said none of Europe's 11 remaining mega-banks show credit profile weakness of Credit Suisse

  • UBS offers to buy back some of its own bail-in notes

The Americas

  • US equities slightly higher again this morning after a bullish move yesterday. Gold is off it’s high and took quite the tumble yesterday. The dollar is weaker this morning and WTI Crude has also come off slightly off it’s highs by about 0.3%. BTC remains elevated.

  • Companies piled into the US investment-grade bond market Tuesday ahead of the Federal Reserve’s next interest rate decision, after the market was shuttered for a week as banking turmoil swept the US and Europe.

  • Nike earnings beat out expectations on the top and bottom line. Margins dropped more than expected by -330bps vs. their guidance of -250bps. North American revenue beat expectations but China came in soft. Inventory decreased to $8.9B from $9.3B last Quarter.

  • First Republic says it could downsize if it fails to raise capital

  • Marvell Technology to cut 320 jobs

Calendar


留言


Sign Up and
Stay Updated

Person Analyzing Graphs On Screen

Disclaimer

Information contained in this website should not be construed as investment or trading advice. Opinions expressed herein by Traderade are not investment recommendations and are not meant to be relied upon in investment decisions. The Traderade.com website is not acting in an investment adviser capacity and neither are any authors on this website. Information presented is not an investment research report. Opinions expressed herein may address only select aspects of the companies mentioned and cannot be a substitute for comprehensive investment analysis.
 

Any analysis presented herein is illustrative in nature, limited in scope, based on an incomplete set of information, and has limitations to its accuracy. We recommend that potential and existing investors conduct thorough investment research of their own and consult a qualified investment adviser. The information upon which this material is based was obtained from sources believed to be reliable but has not been independently verified. Therefore we cannot guarantee its accuracy. Any opinions or estimates constitute our best judgment as of the date of publication and are subject to change without notice.
 

The authors may buy or sell shares without any further notice and may have a position in any shares of any of the companies or asset classes mentioned. By using this website you agree with our full Terms of Use and Privacy Policy.

Navigation

Copyright 2025 Traderade. All rights reserved.

  • Twitter
  • Youtube
bottom of page