North American Morning Briefing: More Earnings, -2-

9 days ago Morningstar

BASF's forecast, based on preliminary figures, is considerably below analysts' forecast of a EUR4.77 billion profit, the company said. December Retail Sales Report to Show How Consumers Weathered Holiday SeasonA report on December U.S. retail sales will show consumers' appetite for spending on gifts, dining out and big-ticket purchases during the final month of the holiday season. Macy's Inc. warned of softer sales, and Lululemon Athletica Inc. said its profit margins were squeezed as shoppers bought more items on sale. Expected Earnings for WednesdayAlcoa Corp (AA) is expected to report $-0.54 for 4Q. Concrete Pumping Holdings Inc (BBCP) is expected to report $0.13 for 4Q.
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The worst air in the world today is in these two American cities

By Rachel Koning BealsThe poorest air quality in the world right now isn't in developing Delhi or Beijing -- large population pockets where citizens sometimes struggle to breathe. In fact, Seattle's air quality Thursday morning is the worst of any place in the world, at least according to Swiss-based air-quality tracker IQAir's rankings. The air quality in the Seattle region was measured at 238 on the Air Quality Index (AQI) at 7 a.m. local time Thursday, putting Seattle just ahead of Portland, Ore., in that measure. The Oregon Department of Environmental Quality issued an air quality advisory in effect until 6 p.m. Thursday. Air quality should improve Thursday night into the weekend, as winds clear out the smoke, the forecast said.

3 months ago Morningstar

EMEA Morning Briefing: Worries Over Global Rate Hikes to Continue Weighing on Shares

Bonds:Treasury yields rose early Friday after carving out more highs overnight, as traders continued to factor in higher interest rates. --Wholesale gas prices in Europe look set to remain high for some time, Fitch said, adding European governments are working to minimize rises in consumer energy prices. "Consumer prices have still yet to reflect the approximately six-fold rise in wholesale gas prices since prices began to climb in April 2021." The eurozone saw inflation rise 9.9% year on year in September, with energy prices accounting for 4.2 percentage points of the increase. Consumer prices excluding fresh food and energy prices rose 1.8% from a year earlier in September.

3 months ago Morningstar

Leaked draft of German government's cannabis reform would ban imports — for now

By Steve GelsiGermany's market has been closely watched by North American cannabis companiesA leaked document from German health minister Karl Lauterbach that lays out the regulatory framework to legalize cannabis includes many positive steps, but could temporarily decrease supply with a ban on imports, executives at a German cannabis company told MarketWatch. Niklas Kouparanis and Anna-Sophia Kouparanis, co-founders of the 250-employee Bloomwell Group, said in order to initially meet expected demand in the estimated $6 billion German market, cannabis would need to be imported. Germany would need permission from the European Union (EU) to allow imports of cannabis. Also Read: These cannabis stocks could benefit from adult-use cannabis legalization in GermanyGerman publication Redaktions Netzwerk Deutschland (RND) reported on Wednesday that the draft cannabis rules include allowance for the purchase and possession of up to 20 grams of cannabis starting from the age of 18. Also Read: Akanda pivots to German market as cannabis reform gains tractionGerman Chancellor Olaf Scholz endorsed cannabis legalization when he was elected in late 2021.

3 months ago Morningstar

The U.S. dollar is wreaking havoc: What that means for the stock market and investors

But speed is something that is important, whether it's in the foreign-exchange market or interest rates, because there's an adjustment process. Stock portfolios take a hitThough it's not always the case, analysts say the strong dollar has clearly exacerbated the headwinds facing the U.S. stock market this year. Today's strong dollar is benefiting American travelers when it comes to booking hotel stays and paying for food plus fun excursions in Europe, the U.K., Japan and just about everywhere else. See: The strong dollar is making European travel very attractive right now -- with one important caveatSome of the cheapest places to travel on the U.S. dollar include Costa Rica, Vietnam and Romania -- although anywhere outside the 50 states will do. Foreign exporters can benefit from weaker currencies relative to the dollar, which means that Americans can enjoy cheaper imported goods.

3 months ago Morningstar

Oil prices rise as U.S. supply data show a rise in crude, fall in gasoline

Price actionSupply dataThe gains in oil prices Wednesday is "really about the dollar," Phil Flynn, senior market analyst at The Price Futures Group, told MarketWatch. The API reported a climb of 4.5 million barrels in last week's crude stockpiles, according to a source and news reports. The EIA also showed a weekly inventory decline of 1.5 million barrels for gasoline, while distillate stockpiles edged up by 200,000 barrels. The analyst survey had called for decreases of 1.6 million barrels for gasoline and 1.5 million barrels for distillates. Crude stocks at the Cushing, Okla., Nymex delivery hub edged up by 700,000 barrels for the week, the EIA said, while crude stocks in the Strategic Petroleum Reserve fell by 3.4 million barrels.

3 months ago Morningstar

Should You Buy Now and Pay Later?

When budgets are tight, it might be appealing to consider ‘buy now, pay later’ (BNPL) schemes, offered by many retailers for products both large and small. What is ‘Buy Now, Pay Later’? Simply put, ‘buy now, pay later’ (BNPL) is the equivalent of purchasing on credit, except merchants will provide a grace period (usually one year, sometimes more, or less) during which interest is not charged. Are ‘Buy Now, Pay Later’ Schemes Helpful? What Are the Risks of ‘Buy Now, Pay Later’ Schemes?

3 months ago Morningstar

Let That Sink In: 10 Things We Learned This Week

Musk, who changed his Twitter bio to “chief twit” earlier this week, tweeted “the bird is freed” after the deal completed. Speculation now turns to the former president, Donald Trump, whose Twitter account was banned for spreading unsubstantiated claims about electoral fraud. Musk might be a “free speech absolutist” but another billionaire has been counting the cost of thinking before opening his mouth. Barclays and HSBC published quarterly results this week that were well ahead of forecasts, with Barclays earnings exceeding £2bn for the three month period. To date this growth looks somewhat illusory, even when viewed through an expensive VR headset, with the company shedding investors, staff and investors.

3 months ago Morningstar

U.S. stock futures mixed after Meta shocker, as traders nervously await Apple and Amazon results

By Jamie Chisholm and William WattsEuropean Central Bank hikes interest rates 75 basis points as expectedU.S. stock-index futures were trading mixed on Thursday after Meta Platforms Inc. became the latest tech giant to release disappointing results and traders nervously awaited earnings from Apple and Amazon. The Nasdaq Composite is up 6.3% from its 2022 closing low hit on Oct. 14, but remains down 29.9% for the year to date. It's left investors nervously eyeing the earnings of Apple Inc.(AAPL) and Amazon.com Inc.(AMZN), due after the close. The European Central Bank announced a widely expected interest-rate rise of 75 basis points to 1.5% as expected on Thursday. Investors will now wait for the press conference with President Christine Lagarde, due to begin at 8:45 a.m. Eastern.

3 months ago Morningstar

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