"However, tighter credit conditions and high borrowing costs are likely to weigh heavily on the flow of credit to the household sector while there is growing evidence of pandemic-era accrued excess savings being exhausted for an increasing number of people," Knightley said. So far, this has been offset by the running down of savings and the use of debt to fuel spending growth," Knightley said. "The data suggests stagnant real household incomes over quite some time now. Meanwhile, consumer spending, while solid, faces a tougher road ahead in 2024 as real household disposable incomes show signs of weakness, credit-card delinquencies rise, and student-loan payments add further strain. The S&P 500 Index is the base for calculating beta with a value of. more evidence of a cooling, but not collapsing, labour market," Knightley wrote. Beta is a measure of risk commonly used to compare the volatility of stocks, mutual funds, or ETFs to that of the overall market. Essentially, the message is that firms are reluctant to fire workers, but they are less inclined to hire new workers. There have been questions over seasonal adjustment issues and data volatility, but the trend is certainly towards higher continuing claims while initial claims remain low. Low: 93.95 High: 95. "Continuing claims surged though to 1,927k up from 1,841k. Meanwhile, the futures market suggests the Fed will cut rates by 125 basis points next year. He also says he expects the interest-rate cuts to extend into 2025 with at least four 25-basis-point interest-rate cuts. stock quotes reflect trades reported through Nasdaq only comprehensive quotes and volume reflect. Knightley says he expects the Fed will start cutting interest rates in the second quarter of next year, delivering as many as six 25-basis-point rate cuts totaling 150 basis points. DoorDashs top line expanded by +35 YoY to 1.46 billion in the most recent quarter, and this. "This should confirm no need for any further Fed policy tightening, but the outlook is looking less and less favourable." DASHs key financial and operating metrics for the first quarter of 2022 beat market expectations. Create real-time notifications to follow any changes in the live stock price. "We have modest growth and cooling inflation and a cooling labour market - exactly what the Fed wants to see," ING's chief international economist, James Knightley, wrote. View today's DoorDash Inc stock price and latest DASH news and analysis. Moderating inflation, a cooling jobs market, and a deteriorating outlook for consumer spending mean the Fed may need to cut interest rates more than the market expects. It often indicates a user profile.Īn economy that is showing clear signs of decelerating means the Federal Reserve will cut interest rates at least six times in 2024, according to a Thursday note from ING Economics. ![]() ![]() The business had revenue of 2.16 billion for the quarter, compared to analysts' expectations of 2.09 billion. The reported (0.19) EPS for the quarter, beating the consensus estimate of (0.45) by 0.26. Account icon An icon in the shape of a person's head and shoulders. DoorDash last issued its earnings results on November 1st, 2023.
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