Demand Imbalance Arbitrage

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Forecast Future Price Action

Stocks Open Lower as Investors Await Powell’s Comments and Earnings Reports


US stocks opened lower on Wednesday, with the Dow Jones Industrial Average (DJIA) trading down 0.1% and the S&P 500 (SPX) down 0.2%.[0] The Nasdaq Composite (NDX) steadied at 11,888. Investors are awaiting comments from Federal Reserve Chair Jerome Powell, who will speak at the Economic Club of Washington D.C. later today.

[1] The yield on the 10-year U.S. treasury increased by 10 basis points to reach 3.[2]

Notable companies reporting earnings this week include Disney (DIS), BP (BP), PepsiCo (PEP), Uber (UBER), Chipotle Mexican Grill (CMG), Hilton (HLT), Wendy’s (WEN), Coty (COTY), and PayPal Holdings (PYPL).[3]

Catalent (CTLT) surged more than 25% in pre-market trading after a Bloomberg report said that Danaher is said to be interested in acquiring the company.[4] Meanwhile, Pinterest (PINS) is down more than 6% after reporting Q4 revenue of $877.2 million, weaker than the consensus of $887.2 million.[5] Skyworks Solutions (SWKS) is up more than 8% to lead gainers in the S&P 500 after reporting Q1 adjusted operating income of $491.3 million, above the consensus of $487.9 million.[5] Oak Street Health (OSH) is up more than 30% after the Wall Street Journal report that the company is close to an agreement to be acquired by CVS Health for about $10.5 billion.[5]

Chipotle Mexican Grill (CMG) fell 4.6% after the company reported Q4 EPS of $8.29 versus $8.92 expected, while revenue came in at $2.2 billion versus $2.23B expected.[6] Cruise liner Royal Caribbean (RCL) gained after posting narrower-than-expected Q4 losses.[6] Bed Bath & Beyond Inc (BBBY) shares fell 43% on Tuesday after the struggling home goods retailer announced plans to sell $1 billion in stock to raise cash.[7] [8]

Overall, investors remain cautious ahead of the Fed Chair’s comments and the upcoming earnings season.

0. “U.S. stocks open lower as investors await Powell remarks” MarketWatch, 7 Feb. 2023,

1. “Wall Street declines ahead of Powell’s statements”, 7 Feb. 2023,’s-statements-42361

2. “Stock Market On The Defensive Ahead Of Powell’s Comments; Up 150% | Investor’s Business Daily” Investor’s Business Daily, 6 Feb. 2023,

3. “Stock Market News Today: Indices Begin Week on a Low Note” TipRanks, 6 Feb. 2023,

4. “Stocks Lower On The Outlook For Hawkish Fed” Barchart, 6 Feb. 2023,

5. “Stocks Mixed as Markets Brace for Fed Chair Powell’s Comments” Barchart, 7 Feb. 2023,

6. “Stock Market News Today: Futures Slide as Markets Reassess Powell’s Words” msnNOW, 8 Feb. 2023,

7. “U.S. stocks are falling as investors await comments from Fed’s Powell By”, 7 Feb. 2023,

8. “Stock market news live updates: Stocks start week lower as investors ponder Fed’s rate path” Yahoo News, 6 Feb. 2023,

Forecast Future Price Action
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