Beat the street: Inflation; US funding bill; Amazon; Google turns 25
US stocks indicate a rebound as investors eye inflation data and a US funding bill. The FTC's Amazon antitrust lawsuit faces a high bar in court, say experts. Plus, Google Search at 25.
(Video summary)
Stock market rebounds
In the video, IGTV presenter, Angeline Ong covers several important topics and updates in the stock market. She starts by highlighting how the stock market has rebounded from concerns about higher interest rates. She mentions the US funding bill and inflation numbers as things to keep an eye on.
Angeline also talks about the FTC's antitrust lawsuit against Amazon, which legal experts believe might face challenges in court. She also celebrates Google's 25th birthday and shares its history and development.
Angeline then gives an update on the current state of equity markets, US tech, and the volatility index. She mentions that the recent release of durable goods figures has been better than expected. However, the dollar basket and markets didn't react much to this news.
Angeline discusses the performance of mega-cap stocks like Tesla, Amazon, and Alphabet (Google's parent company). She provides insights from legal experts who think it may be difficult for the court to prove that Amazon's actions harm consumers' choices in the Amazon-FTC lawsuit.
Moving on, Angeline talks about the history and impact of Google. She introduces the founders, Larry Page and Sergey Brin, and discusses the company's early development and its various products and services. She mentions that Google has faced fines and scrutiny from regulators due to its strong market presence. She also explores the challenges that Google might face in the future.
Angeline then focuses on Meta (formerly Facebook) and its decision to withdraw from one of its London offices. This move has resulted in downgrades for UK landlords in the office space sector. There are concerns about the office market being weak and shrinking, with landlords losing pricing power. The sector index is currently down about one percent.
Equity overview
The video also provides updates on other stocks, including Micron Technologies and Costco. It mentions Micron's upcoming earnings report and the company's challenges in the memory chip market. The show also notes positive developments for Micron, such as partnerships with NVIDIA.
Regarding Costco, Angeline emphasises the company's strong fourth quarter sales and profits, driven by consumer demand for affordable products and a high number of shoppers.
She ends the video by offering a cautious outlook for the market and encourages viewers to follow more market-moving news on Twitter. She also mentions that OpenAI, an artificial intelligence startup backed by Microsoft, is in talks with investors to sell existing shares at a higher valuation. The proposed deal could value OpenAI at $80 to $90 billion.
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