Fast Money Blog- 1/26/24
Welcome to the 2024 bull market! Stocks are going higher from here.
Below are this week’s Wall Street highlights:
On Tuesday, January 23rd, Netflix, Inc. (NFLX), released their Q4 2023 top-line revenue of $8.83 billion in the quarter, an increase of 12.5% year-over-year.
The company added more than 13 million new subscribers in the quarter, ending 2023 with 260.28 million subscribers worldwide.
Netflix also reported that their ad-tier memberships increased by nearly 70% quarter-over-quarter. The ads plan now accounts for 40% of all Netflix sign-ups in the markets it's offered in.
Netflix also announced a deal with TKO Group Holdings (TKO) to carry the WWE's flagship pro wrestling program "Raw" starting next year.
Apparently Wall Street likes these results, as the stock has risen more than 14% in the past 6 trading days.
On Thursday, Jan. 25th, Visa, Inc. (V) reported Q1 2024 earnings with revenue of $8.63 billion representing a year-over-year increase of 8.8%.
Across the board Visa had outstanding quarterly numbers.
Payments volume increased 8% over the prior year.
Total cross-border volume increased 16% in the quarter year-over-year.
In addition, processed transactions totaled $57.5 billion, an increase of 9% year over year.
Great News for Inflation
On Thursday, January 25th, the U.S. Commerce Department released GDP (Gross domestic product) data for Q4. GDP, a measure of all goods and services produced, increased 3.3%, showing the resilience of economy.
Even more encouraging was the fact that inflation continued to cool. Consumer prices rose at 1.7 % in the final three months of the year, below the Fed’s long-run target of 2 percent.
Clearly the stage is set for most S&P and Dow components to go higher from here.
Again, welcome to the 2024 bull market. As a Wealthy Investor stock market trader and investor, you have a lot to look forward to!
Tyrone Jackson, The Wealthy Investor