Market Rebounds 📈
Dec 21st 2022, 4:48 pm
The Decline In The US Housing Starts
- Because fewer single-family houses were built in the US in November, housing starts and permits fees a result, the total number of new construction projects decreased for the third time in a row by 0.5%.
- One-family house permit requests were at their lowest level since May 2020. More information on housing transactions will be made public in the upcoming days.
- While home starts were constant at 1.43 million in November, annualized building permits decreased to 1.34 million from 1.51 million.
Source: Photo by Maximillian Conacher on Unsplash
The Change in Japan's Monetary Policy
- The Bank of Japan's decision to increase the 10-year JGB yield cap from 0.25% to 0.5% on December 20 represents a seismic shift rather than a minor adjustment. The BoJ's astonishment is explained by Japan's earlier decision to increase defense spending by more than half over the next five years, which led to a record jump in the yield on 10-year JGBs.
Melanoma MRNA Vaccine Has Been Proven Effective
- Merck and Moderna $MRNA are working to create a skin cancer shot that functions like a vaccine. The treatment mixes a vaccine with Merck's Keytruda medication to boost the body's immunity and combat cancer. Compared to Keytruda alone, the combination results in a 44% lower risk of mortality or recurrence.
Source: Yahoo Finance
- Regulators cited "illegal activity" to more than 16 million accounts opened without consumers' knowledge or consent as the reason why Wells Fargo $WFC was penalized for its long-standing malfeasance. As a result, the bank is required to pay $1.7 billion.
- Watch Carnival Corporation's $CCL stock today as it approaches its Q4 earnings release. Analysts forecast a $0.89 loss per share and $3.9 billion in revenue after the bell.
- Elon Musk has defended his handling of Twitter's $TWTR finances, saying that without his aggressive cost-cutting measures, the social media network would have been in a "negative cash flow situation of $3 billion a year."
- Nike Surges: After yesterday's closing, several encouraging earnings reports were released, including one from Dow-30 component Nike $NKE. Lockdowns brought on by the coronavirus hurt clothing manufacturers' sales in China. Although margins dropped less than anticipated, and the company showed noticeable development in other parts of the world, it could still surpass Wall Street's projections.
Source: Yahoo Finance