Weekly Outlook
This week is jam-packed with a mix of crucial earnings reports and significant economic updates. Let’s dive into what’s on the agenda:
Key Earnings Reports
- Warren Buffett’s Berkshire Hathaway reported earnings over the weekend.
- Domino’s Pizza Inc shared their earnings this morning.
- Riot Platforms, Hims Hers Health Inc, and [Unnamed Company] are set to report after the market closes today.
- Tomorrow, we’ll hear from companies like AMC Entertainment, Home Depot, CAVA Group Inc, and First Solar.
- Nvidia will report its earnings on Wednesday after the market closes.
- Other notable companies reporting on Wednesday include Lowe’s Companies Inc, Snowflake, C3.ai, and Salesforce.
- Thursday brings a revised GDP report for Q4 and earnings reports from Norwegian Cruise, Vistra Energy, Dell, and SoundHound AI.
Economic Reports
- On Tuesday, a consumer confidence report will be released at 10 a.m. ET.
- Friday marks the release of the latest inflation report via the PCE report, which is the Fed’s preferred inflation gauge.
The Setup — PayPal
PayPal has been on a rollercoaster ride in the markets, with shares seeing both ups and downs across various timeframes. Here’s a snapshot of what’s been happening:
Despite a 27% increase in shares over the past year, PayPal is currently down 20% from its recent high. The stock is also 75% below its all-time high, underscoring its volatile nature.
Currently, the focus is on the 200-day moving average, as shares have been pulling back. Bulls are eyeing support in the mid-$70s, while bears are watching for a potential drop to the $67 to $70 zone, a key support and resistance area.
What Wall Street is Watching
- CELH: Celsius saw a significant surge of almost 28% on Friday after reporting earnings that beat expectations and announcing an important acquisition.
- UNH: UnitedHealth faced a setback with shares tumbling over 7% due to reports of a Department of Justice probe into its Medicare Advantage practices.
Disclaimer: Please be aware that market conditions may have already impacted prices and outcomes mentioned in this content. The information provided is for educational purposes only and does not serve as financial advice or a recommendation for specific investment actions. Remember that all investments carry risks, and past performance does not guarantee future results.