by Shah Gilani
Earlier this week the Federal Open Market Committee (FOMC) meeting held few surprises.Instead, we got another 75 basis points hike on interest rates and no forward guidance on when they’ll taper their hiking regime.
For the full story on why we're not out of the woods yet, click here.
Roku started strong out of the gate reporting total net revenue growth of 12% year over year to $761 million.While that is great that they continue to grow revenue, the key metric gross profit has seen zero incremental growth in four quarters and actually down 2% to $357m year over year.On top of that, gross profit is set to collapse to $325m based on its released guidance.
by Shah Gilani
Inflation – and its implications – have been the story of the market in 2022… and with good reason.Even after the Federal Reserve aggressively increased the fed funds rate from 0.08% in February to 2.56% in September, inflation is still running hot.
President Biden took another jab at Big Oil yesterday, taking aim at a record $30 billion in combined industry earnings this quarter.He threatened higher taxes on oil companies should they fail to work to lower consumer gas prices.Americans continue to face high prices at the pump – $.3.75 a gallon on average nationwide – despite the Department of Energy releasing millions of barrels of oil from the Strategic Petroleum Reserve.
See their conversation here...
