Home Uncategorized The main news of the stock market today, May 9, 2022

The main news of the stock market today, May 9, 2022

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Stock market futures increase losses before the release of the consumer price index on Wednesday

Futures on US stocks are on the decline before this week’s opening bell. This comes after a predominantly turbulent start to May for stocks around the world. Among the main drivers of the market to look out for this week will be the April Consumer Price Index (CPI) of the U.S. Bureau of Labor Statistics. At the moment, consensus forecasts by economists suggest that we can see growth of 8.1% over the same period last year. If this is the case, it will mean a slight slowdown from the 8.5% increase observed in March.

However, there are many macroeconomic factors that affect markets even now. Explain this in detail Nomura (NYSE: NMR) Vice President and American Economist Robert Dent. He notes: “I think now investors need to weigh the two results we are facing, and that is basically a soft landing if the Fed can control inflation without driving the economy into recession, and a hard landing when the Fed should over-tighten and push growth into negative territory .«

Dent goes on to say: “I also think part of what’s happening is that markets may have focused too much on Chairman Powell’s comments on Wednesday, starting from an increase of 75 basis points, and missed a broader meeting point that was that the Fed is still a very active regime that [they will do] whatever it takes to keep inflation under control, I think they are willing to raise rates to very restrictive levels.Apart from all this, investors also have another notable week of earnings ahead. As of 4:43 a.m. Eastern Time, the futures of the Dow, S&P 500 and Nasdaq are trading 1.23%, 1.46% and 1.66% lower, respectively.

Preview Image of AMC Entertainment Earnings

AMC Entertainment (NYSE: AMC) will be among the firms to look out for the stock market today. Accordingly, this would be due to the fact that the company will hold its last earnings call after closing the call. All in all, this cinema giant is a key name from the initial madness of the stock market memes. Although they have lost most of their profits from this, investors who want to bet on the return of film screenings will now consider AMC shares. However, AMC seems to be waiting for a bumpy road to recovery at the same time.

Wall Street is currently focusing on a loss per share of $ 0.68 with revenue of $ 736.2 million. For starters this will be a 50% improvement over the same period last year. In addition, quarterly revenue of $ 736.2 million will result in a significant increase of approximately 397% over the same period. However, compared to the previous two quarters this is a slowdown in revenue. Another key thing that investors are likely to look at today is the total number of AMC movie buffs. This would be a key indicator of the company’s recovery to pre-pandemic levels. In the previous quarter, AMC recorded nearly 60 million customers, which is about 64% of the 2019 level. So I wouldn’t be surprised to see AMC shares go on the stock market later today.

Source: TradingView

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Upstart to report earnings after closing a call: what you need to know

Another company worth noting today is on the revenue front Upstart (NASDAQ: UPST). For the most part, the company uses a digital credit platform based on artificial intelligence (AI) to serve its customers. Among them – a wide target market, ranging from small businesses to consumers who want to get personal loans. Through partnerships with banks and credit unions, Upstart strives to provide optimal financial solutions for its customers using AI. Separating the company from the competition would be an unconventional means of assessing creditworthiness. This will include factors such as education and employment.

As for the forthcoming earnings report later today, analysts ’consensus estimates suggest that Upstart maintains momentum for growth. Current forecasts indicate that earnings per share are $ 0.53 and earnings are $ 300.13 million. If this were the case, it would lead to significant jumps in annual terms of about 140% and 147% respectively.

For one thing, Upstart doesn’t seem to be slowing either. Last week, the company worked with Firstmark Credit, the oldest state credit union in San Antonio, Texas. This, together with its continued expansion in car loans, can further strengthen Upstart’s long-term sustainability growth. Given all of this, I wouldn’t be surprised to see investors tune in to UPST stocks.

UPST shares
Source: TradingView

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Activist Investor Third Point LLC increases stake in Shell

According to a Reuters report, Third Point LLC investor activist Dan Loeb is increasing its stake to $ 750 million. Shell (NYSE: SHEL). This would serve to increase the pressure Shell faces from the third point to share its core operations. In detail, the investment firm Loeba believes that Shell will cease its activities in the field of liquefied natural gas (LNG), renewable energy and marketing. At the same time, this would essentially serve to better differentiate between carbon-oriented and cleaner alternatives. According to Loeb, SHEL shares are already trading at an attractive price, but he also notes that “proper management”Can lead to further profits.

According to a letter from Third Point, “This step allows you to change your portfolio with more flexibility (either through the sale of assets or allocations) and allows you to return capital more efficiently, in particular by repurchasing shares.Not to mention that the company also emphasizes the growing demand for secure energy sources in Europe amid geopolitical conflicts. Accordingly, Shell’s LNG business will remain very viable in such a market. If you combine all this with the company’s latest record earnings for the first quarter, we could expect exciting times for Shell. Although there is no confirmation of the division yet, SHEL shares may be in the spotlight at today’s opening because of this news.

SHEL action
Source: TradingView

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Significant profits in the stock market today

At the same time, there is no shortage of salaries today. In today’s early hours, Palantir (NYSE: PLTR). BioNTech (NASDAQ: BNTX), Tyson Foods (NYSE: TSN), Cats (NYSE: COTY), and Duke Energy (NYSE: DUK) ready to report.

Alternatively, for those looking to make a profit after closing today’s market, there are also many firms to consider. As for health, we have Novavax (NASDAQ: NVAX) and Clover health (NASDAQ: CLOV) on the tap. Other than that, there is more Suncor Energy (NYSE: SU) and Power outlet (NASDAQ: FORK), which today represents the space of renewable energy sources. Other titles that report earnings during these hours include Aterian (NASDAQ: ATER), Tattooed boss (NASDAQ: TTCF), Flashing charges (NASDAQ: BLNK), and Lemonade (NYSE: LMND). It is safe to say that at the opening of this week, investors have a lot of news in the stock market.

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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.

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