4 Trends Set to Impact Earnings Season 2024 & Beyond
Digitization
ESG Factors
Lingering Pandemic Effects
Geopolitical Dynamics
Let's Team Up
In conclusion, the earnings season in 2024 may differ from its traditional form due to factors such as digitization, sustainability, pandemic impacts, and geopolitical events. These factors provide an evolved perspective for assessing a company’s performance. All these changes encourage investors to consider their insights, shaping the future of investing decision-making. Our office is committed to providing you with the latest insights and tools to help you achieve your investment goals in an ever-changing market environment.
All major US equity indices were positive for the week, with the Dow Jones leading the market, up 2.20%, and the tech-oriented NASDAQ lagging, which rose 1.17%. Mid-caps stocks and small-cap stocks were positive for the week, returning 2.00%, and 1.21%, respectively. Both International and Emerging Markets finished the week with positive returns, rising 1.77%, and 0.98% respectively. International indices, which have seen strength in recent weeks, are still trailing the S&P 500 YTD by 3.74%. Fixed income returns were mostly muted as investors await inflation data this week. The U.S. aggregate benchmark posted a 0.09% return, while the high yield index and global aggregate benchmark declined -0.02%, and -0.10% respectively.
Massachusetts Takes Uber and Lyft to Trial Over Status of Gig Workers: Uber Technologies and Lyft are set to face trial on Monday in a U.S. lawsuit by Massachusetts' attorney general alleging the ride-share companies misclassified their drivers as independent contractors rather than more costly employees. The non-jury trial in Boston comes amid broader legal and political battles in the Democratic-led state and elsewhere nationally over the status of drivers for app-based companies whose rise has fueled the U.S. gig worker economy. Massachusetts Attorney General Andrea Joy Campbell is asking a judge to conclude that drivers for Uber and Lyft are employees under state law and therefore entitled to benefits such as a minimum wage, overtime, and earned sick time. Studies have shown that using contractors can cost companies as much as 30% less than using employees. Uber and Lyft argue that they properly classified the drivers, saying they are not transportation companies that employ drivers but technology companies whose apps facilitate connections between drivers and potential riders.
Billionaire Quant Investing Pioneer and Philanthropist James Simons dies at 86: Billionaire investor James Simons, the mathematician and Cold War codebreaker who founded one of the world's most prominent and profitable hedge funds, Renaissance Technologies, has died at 86, his foundation said on Friday. He founded Renaissance in 1978 in East Setauket, New York, 70 miles east of Wall Street. He quickly forged a new way to invest, laying the foundations of quantitative trading that has been embraced by dozens of firms in recent years. Renaissance, whose Medallion Fund delivered average annual returns of more than 60% over three decades, became one of the world's most successful hedge funds under Simons. He is survived by his wife, three children, five grandchildren, and a great-grandchild.
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