Closing Bell Overtime: Alcoa CEO On Earnings, Tariffs; Needham’s Laura Martin Dives Into Netflix 10/16/24
Oct 16, 2024
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Kevin Gordon, Senior Investment Strategist at Charles Schwab, shares insights on the fluctuating market trends during earnings season. Mike Santoli, CNBC market analyst, breaks down the technical aspects influencing current stocks. Laura Martin, an analyst at Needham & Company, highlights her expectations for Netflix’s upcoming earnings and discusses the competitive landscape in streaming services. The conversation also touches on Alcoa's latest earnings and the impact of tariffs, alongside exciting developments from Lithium Americas and GM's joint venture.
Alcoa CEO William Oplinger discusses the impact of tariffs on business operations and profitability during the recent earnings report.
Analyst Laura Martin emphasizes the significance of Netflix's upcoming earnings and shares insights on Apple stock's potential performance.
Deep dives
Defining Wealth Beyond Money
The episode discusses the concept of richness, emphasizing that it encompasses more than just financial wealth. It suggests that true wealth involves having meaningful experiences, spending quality time with loved ones, and the ability to engage in fulfilling activities such as travel. This perspective shifts the focus from material possessions to personal values and what truly counts in life, underscoring the importance of having a financial advisor to help align one's financial strategy with their personal definition of richness.
Market Rebound and Economic Indicators
The podcast highlights the recent rebound in stock prices, driven primarily by strong earnings reports from major companies like Morgan Stanley and United Airlines. The discussion includes the performance of small-cap stocks, which outperformed the Dow and contributed to a record-close for the index. Additionally, it touches on upcoming earnings from various sectors, emphasizing the importance of labor market data and consumer spending as critical indicators for economic health during the holiday shopping season ahead.
Bank Performance and Economic Outlook
The analysis of recent bank earnings reveals a resilient U.S. economy with banks reporting strong financial performance and optimistic management outlooks. Despite some mixed signals in labor market data, bank executives conveyed a sense of confidence, indicating a 'Goldilocks' environment where growth persists without extreme inflation. This positive sentiment is seen as a contributor to the overall market stability, suggesting a gradual approach from the Federal Reserve in managing interest rates moving forward.
Shifts in Market Leadership and Sector Performance
The conversation reflects on the market dynamics as previously dominant tech stocks have begun yielding leadership to financials and industrials. The discussion notes the importance of broad market participation, highlighting how several sectors, including small caps and financials, have posted gains during this market phase. The panelists stress that a diversified market is healthier, suggesting that while tech continues to play a crucial role, a balanced contribution from other sectors can sustain market growth experienced in previous months.
Earnings season is in full swing and we have you covered with every angle. Get the numbers from CSX, Kinder Morgan, SL Green, Alcoa, Discover Financial, PPG and Steel Dynamics. Alcoa CEO William Oplinger talks the latest quarter and what impact tariffs is having on his business. Lithium Americas and GM announced a joint venture to developed a key mine in Nevada; LAC CEO Jonathan Evans on what the deal means for his company and the production timeline ahead. Plus, top analyst Laura Martin on what she wants to see from Netflix earnings this week and what to do with Apple stock.
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