Friday's Trades as Fed's Favorite Core Inflation Gauge Fell




Markets shook off Intel’s (INTC) disastrous earnings outlook after the Bureau of Economic Analysis posted the Personal Consumption Expenditures (PCE) index increasing by 2.6% Y/Y last month. This is down from 3.2% posted the month prior. The lower inflation rate increases the chances of the Fed cutting interest rates.
Find the data here: https://www.bea.gov/data/personal-consumption-expenditures-price-index

Banks are flat to lower today since the markets priced in the rate cuts. Instead, today’s trades include American Express (AXP), which posted a strong forecast for the full year. It expects to earn $12.65-$13.15 a share.

Cryptocurrency platform Coinbase (COIN) opened above $126 and is up 3.5%. Oppenheimer upgraded COIN stock with an outperform rating. The firm believes the spot bitcoin ETF is a net positive outcome for Coinbase’s business prospects.

While Meta Platforms (META) is the leader, Snap (SNAP) opened higher this morning. Deutsche Bank is optimistic about Snap’s advertising trends. Its partnership with Amazon (AMZN) will help Snap’s ad platform.

Colgate-Palmolive (CL) added 2.3% after posting Q4 non-GAAP EPS of 87 cents. Its revenue increased by 6.9% to $4.95 billion. For the full year 2024, net sales will grow by 1% to 4%.

LVMH (LVMHF) is up 7.7%. It posted strong sales for 2023 and increased its annual dividend.

On the biggest loser’s list, Intel lost 10.9%. T-Mobile (TMUS) rebounded from lows and is up 1%. Credit card giant Visa (V) recovered from a 3% opening dip to trade down 1.2%.



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