Beat the street: traders eye Fed; jobs; earnings; Boeing
Traders pause for breath after tech titans including Microsoft and Alphabet highlighted the challenges and costs associated with AI. Investors eye the Fed and more earnings ahead.
Plus, Boeing shares reverse course. Qualcomm earnings out after the bell.
(AI Video Summary)
Boeing's postponed 2024 outlook
In today's exciting edition of "Beat the street," Angeline Ong shares some important news and data that can help even those with little trading experience stay ahead in the trading game. First, she talks about Boeing's postponed 2024 outlook, where its CEO talks about the company's need to regain the trust of regulators and customers following recent problems with its aircrafts.
January employment numbers and upcoming Fed meeting
Then, she dives into employment numbers for January, which is a bit disappointing as it falls short of expectations. We also learn about wages and benefits for the last quarter, which is important as it gives an idea of how well the job market is doing.
Next, the attention moves to the upcoming Federal Reserve meeting. Chris Vecchio, also known as the trading wizard from tastylive, joins the discussion and shares his expectations. He believes that the Fed won't be making any big changes this time.
Tech companies lowdown
The show also talks about the impact of AI on companies like Apple, Amazon, and Meta. These companies are important to watch because their costs may be affected by the implementation of AI technology. Axel Rudolph jumps in to talk about potential volatility in the USD/JPY currency pair due to rate hike hints from the Bank of Japan. Plus, he analyses the charts of Microsoft, Alphabet, AMD, NVIDIA, and Micron Technology. These companies have been facing some challenges and investor concerns lately.
The show also mentions Qualcomm's upcoming earnings announcement. It's important to pay attention to their comments on the smartphone market and AI demand. Lastly, analysts have lowered their oil price forecasts, so it's good to be cautious about the Wall Street opening.
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