Beat the street: Fed alert; Amazon’s Q1 profit tripled, but revenues missed forecasts; eBay
Investors wait on the Federal Reserve to spell out its 'last mile' fight against inflation. Amazon’s Q1 profit tripled, but revenues missed forecasts, sending its shares on a rollercoaster ride.
Plus, eBay is seen reporting a 0.8% rise in Q1 revenue, which could be its worst performance in the last five quarters.
(AI Video Summary)
Investors await Fed's interest rates and inflation stance
In today's edition of "Beat the street", Angeline Ong reports that investors are anticipating the Federal Reserve's stance on interest rates amid ongoing inflation, while market reactions to corporate earnings reveal mixed signals. Amazon's Q1 profits surged but missed revenue expectations, impacting share prices negatively. Conversely, eBay reported a modest revenue increase, marking its poorest quarter in a year. Employment data showed unexpected highs, influencing market expectations around the Fed's monetary policy, with speculation favoring a "hawkish hold."
Pfizer and Johnson & Johnson
Ong also touches on the potential for rate cuts, the global inflationary landscape post-covid, and specific stock movements including Pfizer and Johnson & Johnson, reflecting broader market sensitivities and investor sentiments ahead of crucial economic indicators.
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