Our PureVest Weekly Roundup looked at the Dow’s longest winning streak in over five years. 74% of S & P 500 companies that have reported earnings so far have beat their estimates fueling the Dow’s 9-day move. Retail sales rose for a third straight month. Despite reporting a lot of positives, Tesla & NetFlix both sold off on Thursday. This can easily be viewed as profit taking after great runs in 2023. After years of development the Federal Reserve launched their FedNow payment system. FedNow is designed to facilitate a much faster flow of cash through the banking system. “Earnings Guidance” & “Earnings Estimates”… Learn the difference in our education section. Enjoy the light reading, and have a great weekend.
Markets & Economy:
The Dow notched a 9-day winning streak for the first time since 2017
source:www.cnbc.com
Retail sales rose in June for third straight month
source:www.cnn.com
Tesla hits $25B in Q2 revenue, but margins decrease amid price cuts
source:www.TechCrunch.com
Netflix earnings showcase strength as the rest of the media industry struggles
source:www.CNBC.com
Federal Reserve officially launches new FedNow instant-payments service
source:www.cnbc.com
Markets Are Propelled By What Hasn’t Happened
source:www.fa-magcom
Goldman Sachs cuts odds of a U.S. recession in the next year
source:www.cnbc.com
Education:
Earnings Guidance Defined
source:www.investopedia.com
source:www.investopedia.com
PureVest Report:
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