Wall Street Today | Traders Are Betting the Fed Will Hike Rates by a Half-Point in March
MACRO
Jerome Powell Says Fed Is Prepared to Speed Up Interest-Rate Rises
Chair Jerome Powell said the Fed would consider raising interest rates by a larger half percentage point this month and was likely to lift rates higher than previously expected this year to cool an economy that has shown surprising strength.
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Traders Are Betting the Fed Will Hike Rates by a Half-Point in March
Interest-rate swaps Tuesday showed a shift in bets for the March 22 meeting, with a half-point hike seen as more likely than a quarter-point move. Traders are betting that the Fed will raise the key borrowing costs by 109 basis points to a peak of about 5.66% by September.
Morgan Stanley's Wilson Sees 20% Downside for Tech Stocks
Morgan Stanley's Michael Wilson says he still sees some 20% downside on some of the big technology and meme stocks, without specifying which ones. The long-time equities bear said on Bloomberg Surveillance that valuations are out of bounds even without an earnings recession.
SECTORS
Key Treasury Yield Curve Hits Deepest Inversion Since 1981
The spread between the monetary policy-sensitive two-year US Treasury yield and the 10-year US yield reached the deepest inversion since September 1981, as bond-market investors priced in higher-for-longer interest rates following Federal Reserve Chair Jerome Powell's Senate testimony earlier in the session.
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COMPANY
CrowdStrike Jumps After Beating Revenue Estimates in Down Market
$CrowdStrike(CRWD.US$ rose 6% on Tuesday after the cybersecurity company beat analysts' estimates, despite previous concerns the cybersecurity market was cooling as cash-strapped companies curb spending.
Intel Wants $5 Billion More From Germany for a Chip Plant
$Intel(INTC.US$ is seeking an additional 4 billion to 5 billion euros in subsidies from the German government to move ahead with a chip manufacturing complex in the eastern part of the country, according to people familiar with the matter.
Salesforce Launches ChatGPT Like CRM Tech Einstein GPT, To Integrate OpenAI With Tableau, MuleSoft, Slack
$Salesforce(CRM.US$ launched Einstein GPT, a generative AI CRM technology that delivers AI-created content across every sales, service, marketing, commerce, and IT interaction at hyperscale.
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Musk Says Twitter May Be Cash Flow Break-Even Soon
Twitter Inc. may break even on a cash-flow basis in the second quarter and has a shot at even going positive, according to owner Elon Musk.
Justice Department Sues to Block Jetblue's Acquisition of Spirit Airlines
The Justice Department on Tuesday sued to block $JetBlue Airways(JBLU.US$' $3.8 billion proposed takeover of budget carrier $Spirit Airlines(SAVE.US$, the Biden administration's latest attempt to prevent industry consolidation.
Source: Bloomberg, Dow Jones, CNBC
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102711703 : Morgan Stanley's upgraded a number of BIG, like Apple with a target price of $199, and still claim the tech stock will be down 20%? Playing game