Stocks Recover on Fed Rate Cut Expectations
View original at nasdaq.comStocks Recover on Fed Rate Cut Expectations The S&P 500 Index ($SPX) (SPY) today is up by +0.18%, the Dow Jones Industrials Index ($DOWI) (DIA) is up by +0.47%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down by -0.06%…
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Cut full-year adjusted EPS forecast to $1.94-$2.04 from previous estimate of $2.35-$2.45, well below consensus of $2.37
80% confidenceQ3 earnings rose 14.6%, more than doubling expectations of 7.2% y/y
80% confidenceUpgraded Vertex Pharmaceuticals to overweight from equal weight with price target of $516
80% confidenceHe will announce his selection for the new Fed Chair in early 2026
80% confidence83% of reporting S&P 500 companies exceeded forecasts, on course for the best quarter since 2021
80% confidenceRaised 2026 comparable sales growth forecast to low single digits from previous estimate of flat
80% confidenceUpgraded Astera Labs to buy with price target of $275
80% confidenceForecasted Q4 revenue of $251 million to $252 million, midpoint below consensus of $251.9 million
80% confidenceMicrosoft is reducing its AI software sales quotas amid consumer resistance to newer products
80% confidenceKevin Hassett is seen as the likely choice to succeed Powell as Fed Chair
80% confidenceQ3 adjusted EPS forecasted at 40 cents, above consensus of 37 cents
80% confidenceForecasted Q4 operating income of $220 million to $230 million, above consensus of $214.5 million
80% confidenceUpgraded Stellantis to buy from neutral with price target of $12
80% confidence