U.S. industrial output falls sharply in December, sparking talk of factory ‘recession’
The number: U.S. industrial production fell 0.7% in December, the Federal Reserve reported Wednesday. It is the biggest monthly decline since September 2021. The decline was steeper than economists expectations of a 0.1% decline, according to a survey by The Wall Street Journal. Output in November was revised down to a 0.6% drop, much worse […]
Tesla is a ‘soft-landing’ stock, says Goldman Sachs. Here are its picks for a gentle slide as well as a rough landing.
Pour one out for the beleaguered economists, who for once got an important indicator, the consumer price index, right on the nose, after CPI fell 0.1% in December, while core prices rose 0.3%. “The 2021 surge in durable goods demand normalized, and the resulting collapse in durable goods price inflation was stunningly fast,” says Paul […]
Why value stocks may not repeat their vast 2022 outperformance in 2023
Are so-called value stocks still living up to their name? Some aren’t so sure. After more than a decade of lackluster returns, the value factor beat the broader market and outperformed rival growth stocks in 2022 by the widest margin since 2000. Still, both broad categories suffered sizable declines during a bear market that sent […]
Taiwan Semiconductor Manufacturing reports record net profit and revenue on chip demand
Taiwan Semiconductor Manufacturing Co. said Thursday that fourth-quarter net profit rose to a new record thanks to growing demand for high-speed computing and better margins. The world’s largest contract chip maker 2330, +0.41% TSM, +0.63% said net profit for the quarter ended Dec. 31 rose 78% from a year earlier to 295.90 billion Taiwan dollars […]
Powell’s in Sweden. Rates Will Likely Go Higher Still Despite Companies’ Pain.
Investors looking at Federal Reserve Chairman Jerome Powell’s speech at a conference at Sweden’s Riksbank Tuesday will be tempted to carefully parse his words for any hint as to when the interest-rate increases will stop. There will probably be less nuance to his remarks than first appears. Powell will certainly utter a few on-the-one-hand, and […]
Inari Amertron falls after report that Apple plans to drop broadcom chip
Shares of Inari Amertron Bhd. fell as much as 8.9% in early trade following a report that Apple Inc. plans to cease using some parts from major chip suppliers, including Broadcom Inc., by 2025. Shares of the Malaysia’s leading outsourced semiconductor assembly and test provider 0166, -5.71% dropped to 2.57 ringgit (59 U.S. cents) on […]
Look for a big cut to TSMC’s 2023 outlook as a bullish sign for chips, one analyst says ahead of earnings
The best thing Taiwan Semiconductor Manufacturing Co. can do in its earnings report Thursday is to cut its outlook for 2023 big, indicating a bottoming in the first half of the year, according to one analyst Monday. TSMC TSM, +3.87% is scheduled to report fourth-quarter earnings on Thursday at 1 a.m. Eastern Time. Needham analyst […]
Globalization is not dead, but it is facing a big tail-risk, expert says
Reports that globalization is dead are overstated, a top economist says. Conventional wisdom has it that globalization will suffer in the aftermath of the pandemic and Russia’s war in Ukraine. The Biden White House’s move to reshore manufacturing and to deny China access to advanced technologies are seen as further steps away from a robust […]
Dozens in Congress beat stock market in 2022 despite downturn on Wall Street: analysis
The House truly always wins.More than two dozen members of Congress beat the stock market last year despite Wall Street suffering its worst year since 2008, according to an analysis by a stock-trading site. But there was one notable loser last year: Nancy Pelosi. The former House speaker’s portfolio dropped 19.8% in 2022 — worse […]