Disney stock rises after streaming losses narrow in first quarter (3 min read)
Disney reported better-than-expected quarterly earnings, with smaller subscriber losses and strong growth in its theme parks. Despite losing 2.4 million Disney+ subscribers due to recent price hikes, parks, experiences, and products division saw a 21% increase in revenue to $8.7 billion. CEO Bob Iger said the company is undergoing a "significant transformation" to reduce expenses and maximize creative potential. Disney shares slipped 45% in 2022 but have risen more than 20% YTD.
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Uber beats estimates and the stock is up (3 min read)
Uber stock jumped about 6% after reporting Q4 earnings that beat analysts' expectations. The company's mobility business outperformed its Eats delivery business, and the number of monthly active platform consumers rose 11% from last year. It ended 2022 with the strongest quarter ever and saw no signs of consumer spending weakness. The company also expects gross bookings to grow 20-24% year-over-year in Q1 this year.
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A Strong January Could Mean a Better Year to Come — Here’s Why (2 min read)
The strong US stock market performance in January could be a sign of a positive year ahead. Historical data shows that a strong January has usually been followed by a positive year 80% of the time from 1983 to 2022. There’s still a chance 2023 may deviate from the pattern due to the Fed’s control over inflation and high interest rates attracting assets to bonds. However, investor sentiment has greatly improved and investors are less worried about market downturns.
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Turkey’s stock market halted after earthquake leads to sharp selloff (2 min read)
Turkey's economy, already fragile, has been further hit by a 15% drop in the stock market following a devastating earthquake. Trading was suspended after the main index dropped 7% in early dealing. The disaster comes at a time when Turkey is grappling with several economic crises, including high inflation, and unorthodox policies by President Erdogan have exacerbated the situation. The World Bank expects the economy to grow 2.7% this year, down from 4.7% in 2022.
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Emerging market funds see big inflows in January on China reopening (3 min read)
EM bond and equity funds received heavy inflows in January, driven by China's reopening and softening inflation pressures worldwide. Data shows that EM equity funds received $13.2 billion and EM bond funds received $11.36 billion, both the highest in over a year. Analysts expect factors such as cheaper valuations, a weaker dollar, and peaking Fed rates to bolster EM assets in 2023. Some question if the rally in emerging assets is sustainable, citing the initial euphoria over China's reopening has faded and a potential recession.
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Direct Indexing Isn’t Niche Anymore (3 min read)
Direct indexing is becoming more accessible to investors with $150,000 or more. It can benefit investors by providing more customization and flexibility, such as tax-loss harvesting and tilt portfolios based on individual preferences. Ben Hammer from Vanguard agrees that direct indexing is a valuable solution for advisors, offering clients a tax advantage and customization options. But he also believes ETFs will always remain useful, while a wealth expert claims that high net worth investors are better served with direct indexing.
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That's it for today! You can reply to this email if you have any comments or feedback.
Thanks,
Thomas
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