Beat the street: Fed speeches; PCE; GDP; chips; United Airlines, Boeing
Investors eye comments from a raft of Fed officials, inflation and a final GDP reading from the US. Watch stocks including Intel and AMD after a report China will limit the use of US chips in state computers.
The FAA boosts its oversight of United Airlines. Plus, Boeing’s CEO heads for the exit.
(AI Video Summary)
Plenty of market news to cover
In this today's edition of "Beat the street," Angeline Ong presents a lively rundown of the latest news and data that could influence the opening of the Wall Street market. She covers a range of intriguing topics, including speeches by notable figures, crucial data like PCE and GDP, investor comments from Fed officials, inflation concerns, and the final GDP reading in the US.
One of the exciting bits of news she shares is the European Union's investigation into tech giants like Apple, Google, and Meta under the keen eye of the Digital Markets Act probes. Additionally, she mentions the US Federal Aviation Administration's increased oversight of United Airlines, which has raised eyebrows in the market.
Market reaction to building permits data
The show delves into the market's reaction to the recently released building permits data, revealing a 2.4% increase month-on-month in February, as expected. Surprisingly, this data didn't cause much movement in the US Tech 100 and Dow Jones indices. Angeline then shifts her attention to upcoming data releases, including core PCE and Q4 GDP, as well as weekly jobs data and consumer confidence. Chris Vecchio, reporting live from the Chicago for tastylive, emphasises the significance of the PCE report for traders longing for signs of progress in tackling inflation. He also mentions that Treasury auctions and commodity prices could have an impact worth watching.
Boeing CEO to step down
The conversation steers towards an in-depth discussion on Boeing's CEO departure, shedding light on the company's persisting issues beyond just management troubles. Nevertheless, some traders perceive an opportunity in the stock. Additionally, United Airlines catches attention due to increased oversight from the FAA, which has stirred up interest in the market.
Tech and manufacturing stocks news
Moving forward, the show covers various stocks of interest, such as Tesla, NVIDIA, Microsoft, Intel, and AMD. They review an eye-opening Financial Times report about China's plan to phase out US microprocessors and Windows operating system in favor of domestic alternatives, and explore how this news affected the stocks of Microsoft, Intel, and AMD.
Dow Jones
As the video comes to a close, there's a glimpse at the Dow Jones, and a cautious outlook for the market opening due to the imminent release of important data.
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