Stocks Rally Following Fed Decision – She’s Got The Stocks 11 November 2023

Stocks Rally Following Fed Decision – She’s Got The Stocks 11 November 2023

Stocks showed signs of improving this week after the FED kept interest rates unchanged for the second consecutive time.

The FED opted to hold rates at their highest level in 22 years at the conclusion of its latest policy meeting – fuelling investor hopes that the FED may be done hiking for the rest of the year.

Treasury yields edged lower with the 10-year yield falling below 4.8 per cent.

Yields fell lower earlier on Wednesday after the US treasury’s quarterly refunding update showed it will auction US$112 billion (AU$173 billion) in debt next week.

The S&P 500 was up 1.48 per cent in the past 5 days and the tech-heavy Nasdaq Composite was up 2.29 per cent.

TRENDING NOW

Online advertising continued to do well despite growing concerns about the Israel-Hamas war.

During its results last Thursday, Amazon revealed that its ad business recorded US$12.06 billion (AU$18.74 billion) in revenue during the third quarter – a 26 per cent increase from the year before.

Amazon’s overall sales for the quarter lifted 13 per cent year over year to US$143.1 billion (AU$222 billion).

Meanwhile, Atlassian has advanced its AI push by buying AirTrack, a six-year-old Melbourne developer, which it is using to grow its flagship Jira service management product. Company filings show Atlassian took ownership of AirTrack at the start of October.

Tech giant Apple is expected to post its fourth consecutive quarterly revenue decline after its earnings bell on Thursday. Wall Street expects $89.28 billion (AU$138.7 billion) in sales, which would mark about a one per cent fall from the same quarter last year.

Whilst Apple stock has been up more than 30 per cent this year due to its strong reputation, analysts will be keen to see it lift its revenue.

The financial results for online dating giant Match were intriguing, indicating a potential impact of the rising cost of living on people’s sex lives.

While online dating might be seen as unnecessary, the stock market perceives it differently – perhaps that telling us something about stockbrokers?

Match Group, parent company of Tinder and Hinge, experienced a 15 per cent drop in stock value, reaching its lowest since becoming independent in July 2020, closing at approximately US$29 (AU$45) per share. Despite surpassing third-quarter revenue and earnings estimates with US$881.6 million (AU$1.3 billion) and 57 cents (AU$0.87) per share, respectively, future concerns have been raised due to lower fourth-quarter revenue projections of $855-$865 million (AU$1.328 billion-AU$1.343 billion), significantly below the expected $890 million ($1.382 billion).

This shows a six per cent decrease in paying Tinder users. Analysts highlight these issues, alongside the resolved lawsuit with Google, as pivotal factors influencing the company’s current market standing and future evaluations.

OpenCloseChange
Macquarie Telecom Limited (ASX: MAQ)$62.22$62.320.16%
REA Group (ASX: REA)$153.20$145.15-5.25%
Atlassian (NAS: TEAM) (USD)$178.59$177.85-0.41%
Xero (ASX: XRO)$108.45$107.06-1.28%
Carsales.com (ASX: CAR)$28.23$27.92-1.10%
NEXTDC (ASX: NXT)$12.16$11.94-1.81%
WiseTech Global (ASX: WTC)$59.95$58.03-3.20%
Appen (ASX: APX)$0.98$0.90-8.16%
Airtasker (ASX: ART)$0.20$0.18-10.00%
Telstra (ASX: TLS)$3.87$3.81-1.55%
Adobe (NAS: ADBE) (USD)$521.14$544.504.48%
Salesforce (NYSE: CRM) (USD)$197.06$203.913.48%
Apple (NAS: AAPL) (USD)$171.10$173.971.68%
Alphabet (NAS: GOOGL) (USD)$125.61$126.450.67%
Meta (NAS: META) (USD)$299.53$301.270.58%
Microsoft (NAS: MSFT) (USD)$340.67$346.071.59%
Amazon (NAS: AMZN) (USD)$121.39$137.0012.86%
Nvidia (NAS: NVDA) (USD)$417.79$423.251.31%
Netflix (NAS: NFLX) (USD)$411.25$420.192.17%

Latest News

Why Too Few Women Are Scaling The Career Heights In The IT Sector
  • Opinion

Why Too Few Women Are Scaling The Career Heights In The IT Sector

There’s still more work to do, to ensure female candidates have a decent shot at challenging and fulfilling roles, says AVEVA director of sales, Pacific, Christine McNamara in this op-ed. Who thinks Australia is doing ok, when it comes to evening up the scales in the historically male-dominated world of IT. Women comprise 29 per […]

Opinion
Host Of New Hires At Snap
  • Social Media

Host Of New Hires At Snap

Snap Inc. has announced a host of new hires across its team in Australia, including Dina Bailey as ANZ agency lead. Lead image: L to R – Dina Bailey, Bethany Rao-Davies, Sarah Ding, Rob Fitzpatrick, Tony, Daniel King, Elise Keeling The new hires include Dina Bailey, ANZ agency lead; Daniel King, senior client partner; and […]

X Booted Out Of Social Self-Reg Code Following Inaction On Voice To Parliament Disinformation
  • Social Media

X Booted Out Of Social Self-Reg Code Following Inaction On Voice To Parliament Disinformation

X, the platform formerly known as Twitter, has been kicked out of Australia’s code for managing misinformation and disinformation online due to its lack of response to user complaints during the Voice to Parliament referendum. Lead image; Linda Yaccarino, CEO, X Twitter and subsequently X, had been a signatory to the Australian Code of Practice […]

Leonardo.Ai Accelerates Global Growth Generating 700 Million AI Images In Less Than A Year On AWS
  • Technology

Leonardo.Ai Accelerates Global Growth Generating 700 Million AI Images In Less Than A Year On AWS

Amazon Web Services (AWS) has announced that Leonardo.Ai, an Australian generative artificial intelligence (generative AI) content production platform, is creating 4.5 million new images daily on the world’s most comprehensive and broadly adopted cloud. Since launching in December 2022, Leonardo.Ai’s users have generated more than 700 million images and trained more than 400,000 custom generative […]