Stock markets posted impressive gains as inflation reports subdued and economic data cooled, with the Dow Jones, S&P 500 and Nasdaq Composite all hitting record highs. This, combined with Wednesday’s follow-through day, finally confirmed the attempt to move higher. But major stocks have performed well in recent weeks, with even more buy signals flashing in the latest week. walmart (WMT), alibaba (Baba) and Ocean (SE) earned revenue.
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Stock market rise hits record high
The Dow, S&P 500, and Nasdaq hit record highs, and many leading stocks issued buy signals. Meme stocks soared, but their weekly gains narrowed. Investors welcomed relatively benign inflation data and other economic reports. U.S. Treasury yields fell sharply on economic data, but the weekly decline narrowed.
Inflation subsides, retail sales slump
Inflation slowed in April and retail sales slowed more than expected, raising expectations that the Fed would cut interest rates in the third quarter. The core consumer price index rose 0.3% in April, after rising 0.4% for three consecutive months, bringing the 12-month inflation rate down to 3.6%, a three-year low. Economists expect the core PCE price index, the Fed’s main inflation measure after the PPI and CPI, to rise by 0.2% to 0.25% when it is released later this month. This is still a bit high for the Fed. But it would support the idea that the high inflation at the start of the year was largely a one-off correction. Meanwhile, retail sales were flat, falling short of the expected 0.4% increase. The rate of increase for March has been revised slightly downward to 0.6%. In addition, various manufacturing industry reports and the number of housing starts are as follows.
Walmart’s revenue soars on e-commerce
First-quarter profits rose 22%, marking the second consecutive quarter of accelerating growth and the fastest increase in three years. Sales increased 6% to $161.51 billion. Both have exceeded the number of views. Global e-commerce sales he increased by 21%. Excluding fuel, same-store sales at Walmart alone rose 3.8%. The Dow discount giant said it was doubling its high-margin advertising revenue and acquiring more high-income customers. Walmart raised its full-year outlook. Stock prices soared.
Searide e-commerce wave
Internet service company based in Singapore sea limited (SE) reported first-quarter sales of $3.7 billion, up 23%, beating expectations. Investors ignored the profit loss, which was slightly wider than expected. E-commerce revenue growth accelerated to 33% year-on-year, showing Sea’s Shopee business is fending off increasing competition from the likes of Temu and AliExpress. After a difficult 2023, Sea stock has risen 70% since the beginning of 2024. Stock prices rose steadily, hitting an 11-month high.
Applied Materials Top View
applied materials (AMAT) beat expectations for the fiscal second quarter ended April 28 and beat guidance for the current period. The semiconductor equipment giant’s profits rose 5%. Sales increased slightly to $6.65 billion, supported by strong demand for DRAM memory chip manufacturing equipment. For the current third quarter, Applied expects EPS to increase 6% and revenue to increase 3% to $6.65 billion.
Alibaba and JDCOM rise following profits
alibaba (BABA) slumped after missing out on March quarter earnings, but rebounded later in the week with support from rivals JD.com (JD). Alibaba announced that its US adjusted earnings per share fell 10%, slightly below views. Revenue rose 7% in local currency to $30.6 billion, slightly outpacing viewership. JD’s sales exceeded expectations by 7% on a local currency basis, totaling $36 billion. U.S. earnings per share rose 19% in local currency to 78 cents, and viewership also increased. JD stock rose steadily this week.
home depot earnings
home depot (HD) announced that its first-quarter profit exceeded expectations, but sales were slightly below expectations. EPS fell 5% and revenue fell more than 2% to $36.42 billion. Same-store sales decreased by 2.8%, the sixth consecutive year of year-on-year decline. The Dow Jones major also reaffirmed its 2024 guidance.
Buffett’s mystery stock is Chubb
Warren Buffett’s berkshire hathaway (BRKB) disclosed a $6.7 billion equity position. Chub (CB), 13F filings have been revealed, ending months of feverish speculation about a “mystery stock” bet by an investment legend. Chubb stock soared. The Swiss property and casualty insurer is affiliated with Berkshire’s vast insurance business, leading to some speculation about an outright acquisition given Berkshire’s acquisition of Alleghany in 2022. The 13F filing also confirmed that Berkshire had cut positions. apple (AAPL) and paramount (PARA) for 2 consecutive quarters.Energy giant Dow’s stock price also fell. chevron Added to (CVX) western oil (oxy). Apple currently accounts for about 41% of Berkshire’s stock portfolio, compared to 50% by the end of 2023.
A turning point for Latin American fintech companies
Brazilian digital bank New Holdings (NU) reported triple-digit earnings per share growth for the fifth consecutive quarter, and sales growth accelerated to 69% for the third consecutive quarter. Stock prices soared, but the rate of increase has since tapered off.Brazilian payment company stone co (STNE) fell after the company reported strong but slowed earnings and sales growth that was weaker than expected.Meanwhile, based in Uruguay d local (DLO) plunged after reporting a significant revenue decline that was well below views.
Put simply
dyna trace (DT) reported third-quarter adjusted EPS of 30 cents. Compared to the same period last year, it was 31 cents. Sales increased 21% to $381 million. Both have more views. For full-year 2025, Dynatrace expected a downward revision. The software maker announced a $500 million stock buyback. Stock prices rose.
Monday.com (MNDY) beat expectations in the first quarter, with EPS soaring 335% and revenue increasing 34% to $216.9 million. The maker of project management software posted slightly higher sales in the second quarter. Stock prices soared within the base.
tencent (TCEHY) reported better-than-expected first-quarter profits, and the Chinese e-commerce and gaming giant also reported a doubling of advertising sales. In dollar terms, EPS growth accelerated for his sixth consecutive quarter to 51%. The stock rose and continued to move toward a buy point.
On hold (ONON) moved up the rankings after the Swiss athletic shoe maker easily topped the number of views in the first quarter. Earnings more than doubled to 36 cents per share, overturning expectations that profits would decline. Sales rose nearly 20% to $561 million, but growth slowed again. On maintained its outlook for full-year sales to increase by at least 30%.
Nioh (NIO) has officially launched the L60 SUV, the first model under its mainstream Onvo sub-brand. The crossover lowers the price of the Model Y by 12% in China, as Tesla’s aging model struggles with increased competition in the No. 1 EV market. Nio has opened pre-orders for his L60, and deliveries could begin late in the third quarter. Stock prices rose this week.
Dear (DE) EPS and revenue were down 12%, but both beat second-quarter guidance. However, as slumping agricultural prices put pressure on demand, major agricultural machinery companies reduced prices.
Baidu (BIDU) reported better-than-expected sales and profits in the first quarter. Revenue increased by 24% on a local currency basis, and sales increased by 1%. Earlier this week, the internet search giant and self-driving technology company unveiled cheaper robotaxis and said the business should be profitable by 2025. Stock prices rose.
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