Markets Today with Neo – 01/02/2023

Markets Today with Neo – 01/02/2023

By Neofytos Hadjineofytou

Today the Federal Reserve will announce their decision to increase the current interest rate in the US to 4.75% from 4.5%, This is mainly because of battling and subduing inflation.

Even though the last inflation measurement showed a decrease from 7.1% to 6.5%, this was not enough, the Fed’s target is to bring inflation back to 2%.

The fed will announce their decision today 2 hours before the US markets close! It could cause volatility in the market! On a different note, quarter earnings announcements continue and here are some of today’s releases:

T-Mobile                       BM      EPS      1.18/1.07       Revenue    20.27 /20.7B

Sad news for WestRock

WestRock                     BM      EPS      0.55/0.66       Revenue    4.9 /5.08B

Both Facebook and Met life will release their earnings after the market closes

Meta platforms (Facebook) AM      EPS            /2.26     Revenue        /31.53B

Met Life                                   AM      EPS            /1.68      Revenue          /17.18B

Although Alibaba is schedule to release their earnings today, the company did not specify if it will be before market or after market

Alibaba                                     EPS                /16.63      Revenue      /246.7B

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