January 28, 2023

Raven Tribune

Complete News World

S&P 500 futures rose slightly in the final trading days of 2022

European markets are falling as caution increases towards the end of the year

European markets It fell on Thursday as caution returned to global stocks, with investors assessing a number of potential headwinds in 2023.

Pan-European Stokes 600 The index fell 0.5% in early trading, as food and beverage stocks fell 1% to top losses as almost all major sectors and stock exchanges slipped into the red.

The European stock index started Thursday’s session down more than 12% for the year.

– Elliot Smith

CNBC Pro: Tesla or Rivian? Professionals predict what 2023 will look like for the two stocks

It’s been a tumultuous year for electric vehicle stocks, and two investor favorites, Tesla And the Rivianwas no exception.

What will next year look like for both stocks? CNBC Pro spoke to analysts and dug into Wall Street research to find out.

CNBC Pro subscribers can read more here.

– Wizen tan

CNBC Pro: Technology ‘Blown But Undoubtedly’ – Watch These Stocks in 2023, Fund Manager Says

It’s been a bad year for tech companies, and many investors have been wondering when tech stocks will rebound.

Technology fund manager Jeremy Gleeson of AXA Investment Managers told CNBC Pro Talks last week that he still believes in the sector.

Explains why and names the stocks to buy.

CNBC Pro subscribers can read more here.

– Wizen tan

All 11 sectors of the S&P 500 are down over the course of the week and month

The 11 sectors of the S&P 500 suffered during regular trading on Wednesday, dragged down by energy companies.

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Notable losers in the energy sector were EQT, which fell by 7.8%, and APA, which fell by about 5.2%. The losses came along with a drop in WTI and Brent crude prices, as well as natural gas.

The eleven sectors are swinging as the week begins to wind down. They were all down for the week, due to telecom services, which were down about 2.7%. All segments are also negative for December, as my consumer estimate drove categories down and off by about 13.3%.

However, the energy is sparkling for the fourth quarter and the year. It rose 19.6% for the last three months of the year, and about 56.4% for 2022.

Darla Mercado, Chris Hayes

Cal-Maine’s latest results show that consumers pay nearly twice as much for 12 eggs

What does inflation look like these days?

Consumers are paying nearly twice as much for 12 eggs than they were a year ago, driven in part by increased demand for specialty eggs, according to latest results From Cal Maine Foodsthe largest producer of eggs in the country.

The average selling price per dozen eggs was $2.71 in the quarter ended November 2022, up from $1.37 in the same quarter a year earlier. That increase has outpaced the rise in feed costs, which have been rising in recent years.

Supply and demand drive up prices.

While the bird flu hit the industry’s supply, Cal Maine continued to see tremendous demand—particularly in premium premium eggs. Conventional egg volumes were down 2% in the quarter, while specialty eggs saw volumes increase 24%.

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There are several reasons for this. The price of conventional eggs has risen so much that it has overtaken the price of specialized eggs. Cal-Maine’s average price for conventional eggs last quarter was $2.88 — more than 21% higher than the current price of $2.37 for specialty eggs.

So why pay for a traditional egg when you can get a less expensive specialty egg? This phenomenon has been a surprising recent trend, Kal-Maine noted: “Conventional egg prices have outpaced specialty egg prices over the past three quarters but it’s historically atypical.”

It also boosts specialty demand for eggs — mandates for cage-free eggs in California and Massachusetts this past January, as well as a trend of “more retailers turning out to sell more cage-free products.”

Shares of Cal Maine jumped 68% in 2022. However, the stock was down about 5% in extended Wednesday trading.

– Robert Hum, Sarah Maine

Stock futures open higher

US stock futures opened higher Wednesday night, as investors head into the final trading days of 2022.

The Dow Jones Industrial Average added 38 points, or 0.09%. S&P 500 and Nasdaq 100 futures rose 0.12% and 0.15%, respectively.

– Sarah Maine