With U.S. markets going strong, it remains an interesting moment for investors. Here is a bit of analysis from around the internet to help you get your head around what's going on today.
S&P, Dow Jones, and Nasdaq chalk up new all-time high
Ahead of a flurry of big earnings calls this week, the U.S.'s biggest exchanges all simultaneously clocked new all-time highs. Analysts say the surge is due to cooling inflation, consumer enthusiasm, and a general better-than-expected start to 2024 raising spirits.
Meanwhile, Chinese markets are not doing so well…
China is considering a "rescue package"
As CNBC reports, China is weighing options for a rescue package supported by offshore money as a parachute for its slumping stock markets. Apparently, Chinese authorities are aiming to stabilize the market with 2 trillion yuan ($381 billion) pulled from offshore accounts of state-owned companies.
All this amid China's CSI 300 index sliding 11.4% last year, while Hong Kong's Hang Seng index fell almost 14%.
Red Sea diversions will eventually find their way into company earnings
As Bloomberg reports, at least 2,300 ships have been forced to take a lengthy detour around the Cape of Good Hope to avoid attacks by Houtis in the Suez Canal, which normally accounts for more than 12% of world trade. This adds to transit times and freight bills — which will inevitably impact prices, inflation, and companies' bottom lines.
Netflix beat most estimates and surged today
Even as it announces it'll be doing away with its cheapest non-ad subscriber tier, Netflix posted positive earnings today, adding 13.1 million subscribers in its fourth quarter, far outpacing Wall Street's expectations of just about 8-9 million new subscribers. Shares rose 1.33% in response.
