Wake Up Wall Street: All eyes on Powell after powerful jobs report
Here is what you need to know on Tuesday, February 7:
Markets are adopting a calmer tone after the shock of last week's nonfarm payrolls jobs report is still being digested. With Fed Chair Powell speaking later on Tuesday, investors are bracing for a more hawkish message. Certainly, that is what Fed member Kaskari is currently delivering by expecting the terminal rate at 5.4%. So far the market is not reacting, but yields look set to rise if Powell confirms those thoughts. Kaskari and Powell do tend to rhyme when it comes to rates and decisions.
The US Dollar is flat at 103.70 in the Dollar Index, Gold is also flat at $1,869, and oil is higher at $75.17.
European markets are mixed: Eurostoxx is flat, FTSE is +0.5%, and CAC and DAX are both -0.1%.
US futures are also mixed: Nasdaq +0.3%, Dow -0.1%, and S&P +0.1%.
Wall Street top news
Kaskari speaks hawkishly on rates.
Powell is due to speak this afternoon.
Bed Bath and Beyond (BBBY) down sharply premarket on a warning from the company on investing in its stock.
DuPont (DD) is down on weak guidance.
Baidu (BIDU) up on talk of the launch of chatbot.
Hertz (HTZ) is up on strong earnings.
Activision Blizzard (ATVI) beats on earnings.
BP: oil major reports record profits.
Linde (LIN) has strong guidance, revenue miss but EPS beats.
Pinterest (PINS) reports weak earnings.
Spirit Airlines (SAVE) has better than expected earnings.
Take Two Interactive (TTWO) lowered its bookings forecast.
Boeing (BA) to cut up to 2,000 jobs.
Upgrades and downgrades
Upgrades
Tuesday, February 07, 2023
|
COMPANY |
TICKER |
BROKERAGE FIRM |
RATINGS CHANGE |
PRICE TARGET |
|---|---|---|---|---|
|
Cipher Mining |
CIFR |
H.C. Wainwright |
Neutral>>Buy |
$1.5>>$3 |
|
Lockheed Martin |
LMT |
Credit Suisse |
Underperform>>Outperform |
$427>>$510 |
|
Kemper |
KMPR |
Raymond James |
Outperform>>Strong Buy |
$60>>$80 |
|
Pfizer |
PFE |
Daiwa Securities |
Neutral>>Outperform |
$51 |
|
Wartsila |
WRTBY |
Citigroup |
Neutral>>Buy | |
|
Terna Rete Elettrica |
TERRF |
RBC Capital Mkts |
Underperform>>Sector Perform | |
|
Snam SPA |
SNMRY |
RBC Capital Mkts |
Underperform>>Outperform |
Downgrades
Tuesday, February 07, 2023
|
COMPANY |
TICKER |
BROKERAGE FIRM |
RATINGS CHANGE |
PRICE TARGET |
|---|---|---|---|---|
|
Adecoagro S.A. |
AGRO |
Morgan Stanley |
Equal-Weight>>Underweight |
$10>>$9 |
|
BigCommerce |
BIGC |
Piper Sandler |
Overweight>>Neutral |
$16>>$12 |
|
ZoomInfo |
ZI |
UBS |
Buy>>Neutral |
$34>>$33 |
|
Spire |
SR |
Stifel |
Buy>>Hold |
$73>>$75 |
|
Tyson Foods |
TSN |
Goldman |
Buy>>Neutral |
$91>>$66 |
|
Holley Inc. |
HLLY |
Telsey Advisory Group |
Outperform>>Market Perform |
$3 |
|
The Children's Place |
PLCE |
Telsey Advisory Group |
Outperform>>Market Perform |
$46 |
|
Plains All American |
PAA |
Bernstein |
Outperform>>Mkt Perform | |
|
PennyMac Mortgage |
PMT |
Piper Sandler |
Overweight>>Neutral |
$16>>$15 |
Source: WSJ.com
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Author
Ivan Brian
FXStreet
Ivan Brian started his career with AIB Bank in corporate finance and then worked for seven years at Baxter. He started as a macro analyst before becoming Head of Research and then CFO.
