Beat the street: US shares eyed after sell-off; Micron; Boeing; Tesla

Micron, all-sessions, shines after forecasting Q2 revenue above Wall Street estimates. Boeing, all-sessions, rises after reports suggesting the plane maker is set to deliver its first Dreamliner to China since April 2021.

(AI Video Summary)

Watching US stocks, Micron Technology and Boeing

In today's episode of "Beat the street," Angeline Ong talks about what's been happening in the US stock market and shares some important economic data. Basically, the US stocks are showing signs of recovering after a sudden drop, but we're not sure if this is just a temporary blip or the start of a longer downward trend. One company that's doing well is Micron Technologies, as its shares have gone up after predicting higher revenues for the next quarter. Another company to keep an eye on is Boeing, as it is reportedly going to deliver its first Dreamliner to China since April 2021.

Key readings lower than expected

Ong then talks about some recent economic data that has been released. The GDP final reading for the third quarter was slightly lower than expected at 4.9 percent, showing a bit of a slowdown. The core PCE, which is a way to measure inflation, also came in lower than expected at 2.0 percent. On the bright side, initial jobless claims were slightly lower than expected, suggesting that the job market in the US is still strong. Despite all this, the reaction on Wall Street was pretty calm, with the Dow Jones industrials only going up a little. Volatility is still low at around 15.7.

Sudden drop in US markets

Ong then talks about the sudden drop in the US markets, which happened out of the blue with no clear reason. Chris Beauchamp, who is an expert on the market, thinks it might be because people were cashing in on their investments before the Christmas break and there weren't many people trading, so things were a bit slow. He advises investors to be careful of sudden changes and mentions that big investors and regular folks might want to sell their investments at the current prices.

Company reports

Next, Ong talks about some good news for Micron Technologies. They made more money and sold more products in the first quarter of their fiscal year. The CEO of the company is confident that there will be a recovery in the market for computer memory and they'll be able to make more money as prices go up. Despite still losing some money, Micron's forecast is better than expected.

The video also mentions that Nike's earnings will be released soon and they're expected to have higher sales, but lower earnings. This is because the economy is a bit tough right now and people aren't buying as much. Nike has been lowering prices to try and sell more, but that means they make less money on each sale. The company's earnings report will give us an idea of how well the holiday shopping season went for them.

Lastly, the video talks about Tesla's stock going up even though the company is being looked into by regulators in Norway because their electric cars might have some problems with the suspension. Also, Boeing's stock is rising because they are going to start sending their Dreamliner planes to China again after a four-year pause. The video also mentions a discussion between China and the US about the possibility of raising tariffs on Chinese electric vehicles.