At a Glance: Key Take-Aways From Financial Markets Today (December 15th, 2022)
Overall Macro News
The Dow declined 765 points (2.25%). The S&P 500 declined 2.49%. The Nasdaq Composite declined 3.23%, respectively.
The 10-year USTreasury is now at 3.445%. The 2Y is yielding 4.244%, and the 30-Yr is yielding 3.486%.
The ECB’s Christine Lagard reaffirming more rate hikes to come after increasing its deposit facility rate by 50bps yesterday to 2.0%.
Investors have been spooked by increasing recession fears.
Earnings News
Adobe, the computer software and cloud giant, behind popular products such as Photshop, beat estimates for the quarter with earnings at $3.60 per share, adjusted, vs. $3.50 per share expected. Revenue was $4.53 billion, vs. $4.53 billion as expected by analysts, according to Refinitiv. Overall grew 10% y/o/y.
Roblox dipped 10% as growth stalled dramatically.
International News
In North Korea, Kim Jong Un was present while the regime tested a new rocket engine technology.
Rampant Inflation: Prices have increased 92% y/o/y in Argentina.
Real Estate News:
A megadevelopment in NYC’s Greenpoint neighborhood in Brooklyn just obtained financing: The project consists of two towers with 13K SF of ground-floor retail and ~18K SF of public waterfront park. Lenders include Bank of America, Mizuho Bank, OCBC, and TD Bank, which will be providing a total of $360 million in construction financing.