Beat the street: Investors eye Fed speak; jobs; Disney; PayPal; Philip Morris
US stocks indicate a tepid open as investors eye Fed comments, jobs data and more big-name earnings. Disney shares seen rising on a dividend boost and the entertainment company's $3 billion share buyback plan.
PayPal indicated lower after the company forecast flat growth. Higher costs weigh on Philip Morris profit outlook.
(AI Video Summary)
Disney and PayPal shares updates
In today's "Beat the street" video, Angeline Ong talks about the current happenings in the stock market. She starts by mentioning that US stocks are not making much movement after the S&P 500 closed at a record high. However, she wonders whether this momentum will continue. She then goes on to discuss two specific companies: Disney and PayPal. Disney's shares are going up because the company announced a plan to buy back $3 billion worth of shares and has a dividend-based plan. On the other hand, PayPal's shares are expected to decrease because their forecast shows flat growth, which is below what people were expecting. She discusses PayPal's disappointing forecast and shows a daily chart of their stock, suggesting a possible breakout.
Initial jobless claims updates
Moving on, Ong talks about some breaking news regarding initial jobless claims, which turned out to be as expected. She also mentions that there was no impact on the US dollar due to this news. She emphasises the influence of policymakers' comments on the markets and the US dollar. Ong then focuses on pre-market news about Disney and the positive results they have had. Along with increased dividends, Disney has decided to invest $1.5 billion in Epic Games, the company behind the popular game, Fortnite. Ong shows how Disney's shares have been performing and mentions that they are expected to open slightly higher.
Philip Morris Q1 profit and oil updates
Ong then moves on to talk about Philip Morris, a company that expects its first-quarter profit to be lower than expected due to increased costs. She warns of potential volatility in the future regarding Philip Morris' shares. Lastly, Ong mentions the oil market, which has been gaining momentum after Israel rejected a ceasefire offer from Hamas. She provides technical details about the price of Brent crude and how refinery margins are providing support. She ends the video by showing the US 500 index, which has been gradually increasing before the market opens.
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