Tag Archives: economic

EXCERPT: Welcome back to Yahoo Finance Live. Let’s take a look at the YFi Interactive to get a check on how the cryptos are doing this morning. You can see it is, yikes, spread across the board.

We take a look at the Etherium down 6% intraday. We also take a look at the big fish over here. That is, of course, Bitcoin down 6 1/2%. Down to about 22,600. Although, that is still far above where we were when you consider how far we went down in 2022.

But, of course, all this action coming after Tesla reported earnings yesterday. And Elon Musk’s company dipping 75% of its Bitcoin holdings out of crypto and into Fiat. Again, I mean, I don’t know if it’s a good thing that we’re talking about car companies and and their Bitcoin holdings, but that was pretty notable from yesterday.

EXCERPT:

Speaker 1: There’s a lot to unpack in this market, but just broadly speaking, wondering how you’re viewing the earnings that we’ve gotten so far. Again, we’re very early into this earnings season. We’ve got the banks and we’ve got some of these large companies like Tesla reporting and hitting the tape as well. Any noticeable trends that you’re seeing?

Speaker 2: Well, I think when we take a look at earnings across the board, for the most part, we’re seeing a fair amount of strength. And I think investors coming into this earnings season were concerned about the deceleration and growth, and we’re seeing it, but it’s not nearly as bad as feared.

Right now, we’re going to expect EPS to finish this quarter, up around 9%. And it’s coming from sales growth that’s 13 to 14%. That’s a big number. A part of that margin contraction is coming from financials. So it’s not broad-base. There are certain groups which we’re seeing that margin pressure, but generally speaking, we’re seeing a fair amount of strength across the board. I think banks is one area where we’re seeing a little bit more increase in reserves, and I think investors are looking ahead to see if there is recessionary impulses in that process. But for the most part, we’re feeling comfortable with this coming earnings season.