Executives are doing a great job talking down the US economy: Morning Brief
source link: https://finance.yahoo.com/news/executives-us-economy-morning-brief-100129288.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Executives are doing a great job talking down the US economy: Morning Brief
the industrial economy
This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe
Monday, February 13, 2023
Today's newsletter is by Brian Sozzi, an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn. Read this and more market news on the go with the .
Powerful executives running public companies are collectively doing a great job at 1) worrying investors about the path forward for profit and cash flow growth this earnings season; and 2) managing expectations so their business could potentially beat earnings estimates even if the U.S. enters a mild recession in 2023.
And if CEOs sound dreary on earnings calls this reporting season, it’s probably because they have a lot of concerns on their minds.
According to a recent Conference Board survey, "the number one concern for CEOs around the world is the economic downturn and recession." Inflation – also no friend to the top and bottom lines – comes in second.
“What we are hearing from retailers is better than what we heard in the fourth quarter, but it does vary through retailers," XPO CEO Mario Harik said on Yahoo Finance Live (video above). "On the industrial side, quite a bit of strength.”
PepsiCo CFO Hugh Johnston told Yahoo Finance Live that he wouldn’t be surprised if there was a mild recession in the U.S. this year.
"Frankly, we are coming out of 2022 which was just an outstanding year," Johnston explained. “I mean, 14% revenue growth, strong EPS. Obviously, the company is just firing on all cylinders. We have good momentum coming into the year, but we are also aware of the fact in a high-interest rate environment it could start to drag at some point."
Amid the cautious C-suite talk and relatively weak earnings growth, the S&P is up about 6.5% so far in 2023 the year and the Nasdaq is up nearly 12%.
Corporate America may be on to something, however. If we are not at the beginning of a new bull market, then we could be in for a rude awakening at some point in 2023.
Yahoo FinanceCurrent stock market rally 'likely to mark the high point' for 2023: JPMorgan
JP Morgan's Matejka recommends investors slash their exposure to stocks and eye more defense areas of the market.
4h ago
Yahoo FinanceStock market news today: Stocks rise after S&P 500 has worst week of 2023
U.S. stocks nudged higher Monday morning as Wall Street clawed back from its worst week of the year so far and an upcoming inflation reading kept investors on their toes.
1h ago
Yahoo FinanceAttitudes begin to shift regarding monetary policy, economic growth, and stock prices
Over the past two weeks or so, it seems attitudes have begun to shift favorably regarding monetary policy, economic growth, and the trajectory of stock prices.
1d ago
Yahoo FinanceStablecoin issuer Paxos ordered to halt creation for Binance USD
Stablecoin issuer Paxos said Monday it would cease creating BUSD tokens, the stabelcoin associated with Binance, following an order from New York's state regulator.
2h ago
Yahoo FinanceInflation data will test 'disinflation' optimism: What to know this week
A busy economic calendar in the week ahead will have investors focused on signs inflation is — or isn't — starting to mdoerate across the U.S. economy.
22h ago
The TelegraphSunak’s tax blunders prove it – Liz Truss was right all along
The return of Liz Truss to the political fray has inevitably sparked a barrage of derision and outrage. The former prime minister has been widely criticised for her 4,000-word essay in last weekend's Telegraph, followed by an hour-long interview on Spectator TV.
1d ago
TheStreet.comWalmart Makes a Surprising Pricing Move Customers Will Love (Costco May Not)
The discount retailer has done something you're going to like (that Costco and Dollar General may not be thrilled with).
1d ago
The TelegraphSnickers maker fined after workers fall into vat of chocolate
Snickers and M&M’s maker Mars Wrigley has been fined by US safety regulators after two workers at one of its factories fell into a vat of chocolate.
6h ago
MoneyWiseWhen the ‘idiot heir’ brings down the entire empire: Corporate royalty may keep the bloodline strong, but it can pose a real threat to the rest of us
Gen Z may be obsessed with nepo babies in Hollywood, but they should really be focused on Silicon Valley.
1d ago
SmartAssetT. Rowe Price Says Workers Over 50 Should Do This in a Down Market
As markets tumble, folks nearing retirement are scrambling to locate strategies that will help them protect their nest eggs and grow their wealth. But if you're over 50 and currently in the workforce, you may specifically want to consider a … Continue reading → The post T. Rowe Price Says Workers Over 50 Should Do This in a Down Market appeared first on SmartAsset Blog.
1d ago
TipRanks‘Cyclical bottom is approaching’: Top analyst explains why you should ‘buy’ these 3 chip stocks
Booms and busts are familiar to any student of economics – they form the underlying patterns of long-term performance, for whole economies and for individual sectors. A recent report on the semiconductor chip industry helps to show the pattern – and sheds some light on where and how investors can position themselves now for maximum advantage. To begin with, the report, based on global chip sales data, places the start of the current cycle in early 2020, at the beginning of the pandemic crisis. W
16h ago
SmartAssetA $1.5 Million Annuity Could Get You This Much Money Every Year
Annuities are a form of hybrid financial product. Part investment and part contract, they're primarily sold by insurance companies as a way to save for retirement. While in recent years they have come under criticism for below-market returns, many retirees … Continue reading → The post How Much Would a $1.5 Million Annuity Pay? appeared first on SmartAsset Blog.
1d ago
Investor's Business DailyPalantir Earnings For Fourth Quarter, Outlook Will Test 2023 Rally
Shares in Palantir rallied in January and early February after a dismal 2022. But some analysts are still cautious on the outlook for PLTR stock.
38m ago
ZacksZacks Industry Outlook Highlights Enterprise Products Partners LP, Energy Transfer LP and Magellan Midstream Partners LP.
Enterprise Products Partners LP, Energy Transfer LP and Magellan Midstream Partners LP are part of the Zacks Industry Outlook article.
2h ago
Zacks5 U.S. Corporate Giants to Invest in Ahead of Earnings This Week
Five U.S. corporate behemoths are set to beat earnings estimates this week. These are: KO, DE, RSG, WAB and AIG.
3h ago
MarketWatchG1 to discontinue study of colorectal cancer treatment
MARKET PULSE Shares of G1 Therapeutics Inc. (GTHX) plunged about 52% in premarket trading on Monday after the company said it discontinued Phase 3 research assessing trilaciclib as a treatment for metastatic colorectal cancer, saying placebo outperformed the experimental therapy in the study.
3h ago
Investor's Business DailyThe Cream Of The Crop: 5 Biotech Stocks That Outrank 98% Of All Stocks
The top five biotech stocks today have several commonalities: strong ratings. Some also show promising charts and are Tech Leaders.
3h ago
ZacksAnnaly (NLY) Q4 Earnings Beat Estimates, Stock Down 6.3%
Improving average yield on interest-earning assets support Annaly's (NLY) Q4 earnings, while higher interest rates remain a key undermining factor.
3h ago
ZacksFactors to Watch Ahead of Kraft Heinz's (KHC) Q4 Earnings
Kraft Heinz's (KHC) fourth-quarter results are likely to reflect gains from pricing actions and a focus on the operating model amid cost and supply-chain concerns.
2h ago
ZacksMarathon (MRO) to Report Q4 Earnings: What's in Store?
While strong commodity prices are likely to have boosted Marathon Oil's (MRO) fourth-quarter results, escalation in costs might have played spoilsport.
2h ago
</div
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK