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Here are the most important news investors need to start their trading day:
1. Will luck be with you on Friday the 13th?
Stock is on a roll. The Dow and S&P jumped on Thursday after the December consumer price index showed inflation slowed on expectations. The Nasdaq posted its first five-day winning streak since July. But it’s time again for companies to report quarterly earnings, and for the superstitious among us, Friday the 13th season isn’t the best day to start. Big Bank and Delta are up first (more on them below) as investors are digging into the numbers. Read Live Market Updates Here,
2. Big banks start reporting
JPMorgan Chase CEO Jamie Dimon arrives for a Senate Banking, Housing and Urban Affairs Committee hearing on the Annual Oversight of the Nation’s Largest Banks at the Hart Building on Thursday, Sept. 22, 2022.
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3. Delta Earnings
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Delta results easily top guess friday, as the airline faces higher costs to end 2022 on a strong note. The company’s adjusted earnings per share were $1.48, while its revenue was $13.44 billion, marking an increase from the pre-pandemic fourth quarter of 2019. Wall Street analysts were expecting $1.33 in earnings per share and $12.23 billion in revenue, according to Refinitiv. , However, its earnings guidance for the current quarter was slightly muted. The company said it expected 15 cents to 40 cents per share, while analysts were expecting 55 cents per share. Delta’s earnings come a day after competitors American Airlines increased it Outlook for the fourth quarter,
4. Tesla cuts prices in US, Europe
New Model Y electric vehicles are lifted by a truck from the Tesla Gigafactory Berlin-Brandenburg plant by American electric car maker Tesla. Tesla says it currently employs more than 7,000 people at its Gruneheide plant.
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Tesla Is cut the prices of some of its vehicles Its deliveries in the United States and Europe ended the fourth quarter below expectations. Tesla has long been on top of the electric vehicle field, but its competition is increasing. Interest rates also rose last year, making it more expensive for consumers to finance new cars. Tesla CEO Elon Musk is also widely considered to have damaged the company’s brand due to his chaotic, controversial and high profile acquisition of Twitter. Tesla shares are flat so far in January after falling more than 60% in 2022.
5. Tim Cook takes pay cut
The world’s largest iPhone factory, located in China and operated by Foxconn, faces disruptions in 2022. This is likely to filter through to Apple’s December quarter results. Meanwhile, analysts questioned the demand for the iPhone 14 from Chinese consumers.
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Tim Cook asked for a pay cut, and that’s what he got, apple The CEO requested the downgrade after a board vote on his pay package — and after a poor year for the company in the stock market. But 2022 hasn’t been great for the tech world, and the board said it kept its faith in Cook. So what does Cook’s pay cut look like? Last year, he earned a total of $83 million in stock awards, $12 million in incentives and $3 million from his salary. This year, he is set to make $49 million in total compensation.
— CNBC’s Samantha Subin, Hugh Son, Jesse Pound, Lora Kolodny, Leslie Joseph and Kif Lessing contributed to this report.
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