Pressure…
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After yesterday's close, Amazon blew the doors off its Q2 earnings, and the stock is up more than 11% today!
Revenue for the quarter came in at $121.2 billion, compared to estimates of $119.53 billion. That's fantastic, considering the consumer sentiment is low, and the country is basically in a recession.
The company's sales numbers were broken into $56.58 billion from Product Sales and $64.66 billion from Service Sales.
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The rally off the recent bottom has been enjoyable. That's for sure! Now, it's time to see if it can last.
As Q2 earnings continue to roll out and more companies report results, we'll get a better sense of how profitable companies were in the last quarter, how many companies beat or missed analyst expectations, and we'll start to see the underlying trends.
If the trend is positive, meaning companies are more profitable than expected, we could go higher, which would be a welcome change from the first half of the year.
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A huge late-day market selloff and negative momentum switch ahead of the latest CPI data and Federal Reserve's monetary and balance sheet moves next week skewers the thoughts of JPMorgan strategists. We've made some portfolio moves as a result.... Read More »
Nobel Prize-winning economist Joseph Stiglitz explains why rather than preventing inflation, the policy of raising interest rates could actually kill the economy and what policymakers should do instead to stave off an economic crisis.... Read More »
This time is different.
There's never been a time in the U.S. when both stock and bond markets had to negotiate high inflation as the central bank (which is sitting on a near $9 trillion balance sheet) raises rates while the economy is, technically, contracting...
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Are you ready for "a great reappreciation of economic fundamentals around the world?" That's what Brunello Rosa, CEO and head of research at Rosa & Roubini, told CNBC this morning. But with his growth and inflation warnings hitting the mainstream, we could see more downside as more retail investors catch on.... Read More »
Our AMZN spread trade is working out really well. Depending on where one opened the AMZN trade, you may have it its profit goal.... Read More »