Consumers Splurge But Fitch Warning And China Data Hit The Sentiment, Saudi Arabia Buys Nvidia Chips
Portfolio Pulse from The Arora Report
The U.S. economy, which is 70% consumer-based, continues to see strong retail sales, with July retail sales coming in at 0.7% vs. 0.4% consensus. However, this has led to concerns that the Federal Reserve may maintain high interest rates for longer. Fitch has warned that it may downgrade the credit ratings of several U.S. banks, including JPMorgan Chase & Co. and U.S. Bancorp. Home Depot Inc. has guided FY23 revenue down 2-5% and earnings down 7-13%. Berkshire Hathaway Inc. is buying three home builder stocks: Lennar Corp, DR Horton Inc, and NVR Inc. Saudi Arabia and U.A.E. are buying billions of dollars worth of NVIDIA Corp chips. Money flows are negative in Amazon.com, Inc., Microsoft Corp, Alphabet Inc Class C, Meta Platforms Inc, Tesla Inc, Apple Inc, SPDR S&P 500 ETF Trust, and Invesco QQQ Trust Series 1.
August 15, 2023 | 3:19 pm
News sentiment analysis
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POSITIVE IMPACT
Berkshire Hathaway Inc. is buying three home builder stocks: Lennar Corp, DR Horton Inc, and NVR Inc.
The purchase of these stocks by Berkshire Hathaway could boost investor confidence in these companies.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Saudi Arabia and U.A.E. are buying billions of dollars worth of NVIDIA Corp chips.
The purchase of NVIDIA chips by Saudi Arabia and U.A.E. could boost the company's revenues and investor sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Money flows are negative in Apple Inc.
Negative money flows could indicate a bearish sentiment among investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Money flows are negative in Amazon.com, Inc.
Negative money flows could indicate a bearish sentiment among investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Money flows are negative in Alphabet Inc Class C.
Negative money flows could indicate a bearish sentiment among investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Home Depot Inc. has guided FY23 revenue down 2-5% and earnings down 7-13%.
Lower revenue and earnings guidance could negatively impact the company's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Fitch may downgrade the credit rating of JPMorgan Chase & Co.
A potential downgrade in credit rating could negatively impact the bank's borrowing costs and investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Money flows are negative in Meta Platforms Inc.
Negative money flows could indicate a bearish sentiment among investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Money flows are negative in Microsoft Corp.
Negative money flows could indicate a bearish sentiment among investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Money flows are negative in Invesco QQQ Trust Series 1.
Negative money flows could indicate a bearish sentiment among investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Money flows are negative in SPDR S&P 500 ETF Trust.
Negative money flows could indicate a bearish sentiment among investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Money flows are negative in Tesla Inc.
Negative money flows could indicate a bearish sentiment among investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Fitch may downgrade the credit rating of U.S. Bancorp.
A potential downgrade in credit rating could negatively impact the bank's borrowing costs and investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100