Missing Bottom Line Results and Inflation Indicators| Morning Express | 1/27/2023
Posted: Jan. 27, 2023, 10:22 a.m.
- The Federal Reserve’s preferred inflation indicator, the Core PCE Index, for December is due at 7:30 am CT and accompanied by Personal Spending and Income data.
- Expectations are for Core PCE +0.3% m/m and +4.4% y/y
- Expectations for Personal Spending -0.1% m/m and Income +0.2% m/m
- Final January Michigan Consumer data is due at 9:00 am CT, along with Pending Home Sales.
- Intel ‘stumbled, said the CEO, and the stock is down more than 9%, EPS at +0.1 vs +0.22 exp and Revenues at 14B vs 14.57B. It also lowered guidance.
- KLA, also in the chip space, designs and manufacturers process control/enabling solutions beat top and bottom estimates but is -5% ahead of the bell, partly due to Intel’s awful tone.
- Chevron missed bottom line results and hit revenues, the stock is off by 1.5% after nearly hitting a record high yesterday on the heels of announcing a $75B stock buyback program.
- American Express missed both EPS and Revenues on loan loss provisions and light activity in the quarter but raised guidance and expects record spending, the stock is +5%.
Do not miss our daily Midday Market Minute, from yesterday.
E-mini S&P (March) / NQ (March)
S&P, yesterday’s close: Settled at 4075.50, up 43.50
NQ, yesterday’s close: Settled at 12,106.75, up 233.50
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