U.S. index futures were slightly down in pre-market trading this
Monday, in a week marked by monetary policy decisions, the last
meeting of the Federal Reserve of 2023. The yield on 10-year
Treasury bonds was at 4.254%.
In the commodities market, West Texas Intermediate crude oil for
January fell 0.67% to $70.75 per barrel. Brent crude for February
fell 0.54%, close to $75.43 per barrel. Iron ore with a 62%
concentration traded on the Dalian exchange fell 0.37% to $134.17
per ton.
European markets showed mixed performance, as investors around
the world await the monetary policy meetings of the Federal Reserve
and the European Central Bank this week. The Stoxx 600, the main
pan-European index, shows little variation, indicating stability.
Highlights include the financial services sector, which recorded a
0.5% increase, leading the gains. On the other hand, the mining
sector faces difficulties, with a decline of 1.1%.
Asian markets closed mostly higher. Chinese stocks rebounded
after data indicated deflationary pressures due to low domestic
demand. In Japan, stocks rose with expectations that the central
bank will not raise interest rates. The Shanghai SE (China) rose
0.74%, Japan’s Nikkei closed up 1.50%, while Hong Kong’s Hang Seng
Index fell 0.81%. Kospi and ASX 200 had slight increases of +0.30%
and +0.06%, respectively.
In Friday’s trading in the US, major indices rose, reaching
highs of more than a year. The Dow Jones increased 0.36%, the
S&P 500 grew 0.41% and the Nasdaq advanced 0.45%. A
stronger-than-expected employment report generated initial
volatility, raising concerns about the Federal Reserve’s delay in
cutting interest rates. A report from the University of Michigan
showing a drop in consumer inflation expectations also influenced
the market. Shares of computer hardware and financials performed
well, while oil rose, but gold and airline shares fell.
In Monday’s corporate earnings front, investors will be watching
reports from Oracle (NYSE:ORCL),
Casey’s (NASDAQ:CASY), and Inotiv
(NASDAQ:NOTV).
Wall Street Corporate Highlights for Today
Apple (NASDAQ:AAPL) – Apple
ended third-party apps that allowed communication between Android
and iPhones via iMessage, citing security risks. The company plans
to support RCS to improve the cross-platform text messaging
experience. The Beeper Mini, which enabled iMessage on Android,
stopped working.
Microsoft (NASDAQ:MSFT) –
Microsoft clarified that it does not own any part
of OpenAI, emphasizing that its agreement grants only profit
participation rights, as disclosed in a statement on Friday.
Nvidia (NASDAQ:NVDA) – Nvidia
will expand its collaboration with technology companies in Vietnam
and support the development of artificial intelligence and digital
infrastructure. CEO Jensen Huang announced this during his first
visit to the country, highlighting Nvidia’s commitment to Vietnam
and the possibility of establishing a research and development
facility there. In addition, the utility unit of YTL, Malaysia,
closed a $4.3 billion deal with US-based Nvidia to develop
artificial intelligence infrastructure in Southeast Asia, focusing
on supercomputers and cloud computing. The first phase is expected
to start in mid-2024.
HP Inc (NYSE:HPQ) – HP Inc.
received an upgrade in rating from Evercore ISI, which improved its
rating from “In Line” to “Outperform” and raised the stock’s target
price from $33 to $40. As a result, shares of HP
Inc. registered an increase of 1.2%, reaching $29.81, in
pre-market trading.
Amazon (NASDAQ:AMZN) – X, Elon Musk’s social
media platform, explored a possible partnership with
Amazon.com to make X ads available in its
ad-buying software. Musk is facing advertiser problems after
controversies on his platform.
Pinterest (NYSE:PINS) –
Pinterest shares registered a gain of 4.8%,
reaching $36.60, after receiving an upgrade from RBC Capital
Markets, which improved its rating from “Sector Perform” to
“Outperform” and raised the target price from $32 to $46.
Macy’s (NYSE:M) – Arkhouse Management and
Brigade Capital Management offered $5.8 billion to buy
Macy’s, making it private. The offer, at $21 per
share, represents a premium of 20.76% over the previous closing
price. Macy’s has not yet commented on the
proposal, and the viability of the deal is uncertain, given the
previous track record of the investor group.
Starbucks (NASDAQ:SBUX) –
Starbucks reached out to the Workers United union,
which represents hundreds of its stores in the US, in an attempt to
resolve its tense relationship with frontline workers. The union
demands better wages, staff, and schedules.
Starbucks proposed resuming negotiations in
January 2024.
Paramount (NASDAQ:PARA) – Media mogul Shari
Redstone is negotiating the sale of National Amusements’
controlling stake, which controls Paramount, to
Skydance Media. The sale could signal changes in the media industry
as traditional companies seek to adapt to the streaming era.
Goldman Sachs (NYSE:GS) – Goldman
Sachs changed its forecast of US Federal Reserve interest
rate cuts, anticipating the first cut in the third quarter due to
slowing inflation. The bank predicts two total cuts, resulting in a
rate of 4.875% by the end of 2024.
Nasdaq (NASDAQ:NDAQ) – The
Nasdaq agreed to pay a $4 million settlement to
the US Treasury Department for apparent violations of sanctions
against Iran by its former unit, Nasdaq OMX Armenia.
Cigna (NYSE:CI) – Health insurer
Cigna ended acquisition talks with
Humana (NYSE:HUM) over disagreement on price.
Cigna plans to repurchase $10 billion in shares
and is considering selling its Medicare Advantage business.
Antitrust concerns were also mentioned.
Honeywell (NASDAQ:HON) –
Honeywell announced the purchase of Carrier’s
(NYSE:CARR) security unit for $4.95 billion in cash to boost its
building security business. The acquisition includes brands like
Onity and Supra.
Chevron (NYSE:CVX), Hess
(NYSE:HES) – The US Federal Trade Commission issued a second
request to Chevron and Hess for
more information on their $53 billion deal. This comes amid
legislative concerns about multi-billion-dollar mergers and their
impacts on consumer prices. The companies stated they will
cooperate with the FTC.
Exxon Mobil (NYSE:XOM) – Exxon
Mobil is expanding its investments in low-carbon sectors,
including lithium mining and carbon capture, allocating $20 billion
through 2027. The company seeks to profit from the energy
transition, though it continues to increase its oil production.
These investments could represent up to 24% of Exxon’s spending,
but investors and environmental groups have raised concerns about
the strategy.
Endeavor Group (NYSE:EDR) – Endeavor Energy
Partners, a leader in oil and gas production in the Permian, plans
to explore a sale valued between $25 billion and $30 billion. The
initiative comes amid a wave of consolidation in the energy sector,
with interest from major companies like Exxon
Mobil (NYSE:XOM), Chevron (NYSE:CVX), and
ConocoPhillips (NYSE:COP). Endeavor, with a strong
presence in the Permian shale basin, saw its production increase
and is projected to generate approximately $1 billion in free cash
flow in 2024.
Philips 66 (NYSE:PSX) – Phillips
66 foresees lower spending in 2024 following pressure from
Elliott Investment. The company announced capital expenditures of
$2.2 billion for 2024, compared to an estimated $2.5 billion in
2023. Phillips plans to invest $1.1 billion in its
refining segment, including the conversion of its Rodeo refinery
into renewable diesel facilities. The company also intends to spend
about $1 billion on Chevron Phillips Chemical and WRB Refining
joint ventures.
Tesla (NASDAQ:TSLA) – The angular design of the
Tesla Cybertruck raises safety concerns among experts due to its
rigid stainless steel exoskeleton, which could cause harm to
pedestrians, cyclists, and other vehicles. Tesla
displayed crash test videos, but experts say more data is needed to
assess safety. In other news, Tesla defended the
use of “Autopilot” and “self-driving” in its driver assistance
features, claiming that the California Department of Motor Vehicles
had implicitly approved these terms in previous investigations.
Tesla faces regulatory action for misleading
advertising of its driver assistance features.
Southwest Airlines (NYSE:LUV) – Flight
attendants at Southwest Airlines rejected a
proposed five-year contractual agreement, with 64% voting against.
The union stated that the contract does not meet the needs of the
attendants and plans to continue negotiating.
Boeing (NYSE:BA) – Boeing
plans to appoint Stephanie Pope as Chief Operating Officer (COO),
possibly the future successor to CEO David Calhoun. Calhoun is
expected to remain in the top position for another year.
Chevron (NYSE:CVX)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Chevron (NYSE:CVX)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024