Fed Could Start Buying Treasuries, says Marlborough's Athey
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Yahoo
37 minutes ago
- Yahoo
What to Expect From Boston Scientific's Next Quarterly Earnings Report
With a market cap of $154.3 billion, Boston Scientific Corporation (BSX) is a global developer, manufacturer, and marketer of medical devices used across a wide range of interventional medical specialties. With a diversified portfolio and a mix of organic growth and strategic acquisitions, the company operates through key segments including Cardiovascular, Rhythm and Neuro, and MedSurg. The Marlborough, Massachusetts-based company is slated to announce its fiscal Q2 2025 earnings results before the market opens on Wednesday, Jul. 23. Ahead of the event, analysts expect BSX to report an adjusted EPS of $0.72, up 16.1% from $0.62 in the year-ago quarter. The company has surpassed Wall Street's bottom-line estimates in the past four quarterly reports. UnitedHealth Stock Is One of the Worst-Performing S&P 500 Stocks in 2025. Should You Buy the Dip? AI Isn't Just About Nvidia: 2 Rising Stars in the Artificial Intelligence Race 'It's a Miracle': Nvidia CEO Says Their New Technology Takes 'AI Supercomputing to a Whole New Level' Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! For fiscal 2025, analysts expect the medical device manufacturer to report adjusted EPS of $2.91, representing a 15.9% increase from $2.51 in fiscal 2024. Shares of BSX have surged 37.1% over the past 52 weeks, outperforming both the S&P 500 Index's ($SPX) 13.4% rise and the Health Care Select Sector SPDR Fund's (XLV) 5.4% decline over the same period. Shares of Boston Scientific climbed 4.1% on Apr. 23 after the company reported better-than-expected Q1 2025 adjusted EPS of $0.75 and revenue of $4.7 billion. The company raised its 2025 adjusted EPS guidance to a range of $2.87 - $2.94, signaling confidence in sustained demand for its medical devices. Additionally, Boston Scientific reassured investors that it expects to absorb a potential $200 million tariff impact through higher sales and discretionary spending cuts, bolstered by expanded U.S. manufacturing capacity. Analysts' consensus rating on Boston Scientific stock is bullish, with a "Strong Buy" rating overall. Among 30 analysts covering the stock, 27 recommend a "Strong Buy,' two have a "Moderate Buy" rating, and one gives a "Hold" rating. This configuration is more bullish than three months ago, with 25 analysts suggesting a "Strong Buy." As of writing, BSX is trading below the average analyst price target of $120.50. On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Yahoo
5 hours ago
- Yahoo
US labor market adds 147,000 jobs in June while unemployment falls to 4.1%
The June jobs report showed the US labor market remained more resilient than anticipated in the final month of the second quarter. The US economy added 147,000 nonfarm payrolls in June, more than the 106,000 expected by economists. The unemployment rate unexpectedly fell to 4.1%. Economists had expected the unemployment rate to move higher to 4.3%. In May, the US economy added 144,000 jobs while the unemployment held flat at 4.2%. Those figures were revised higher on Friday from a previously reported 139,000 job additions in May. "You're just not seeing any feed through from tariff or trade related stress," RSM chief economist Joe Brusuelas told Yahoo Finance. "We got an absolutely solid payroll number." Brusuelas added, "This feeds right into the forecast of a slowing but solid economy." Average hourly earnings in June rose 0.2% over last month and 3.7% over the prior year. Economists expected wages to rise 0.3% over last month and 3.8% over the prior year. Meanwhile, labor force participation rate fell to 62.3% from 62.4% the month prior. Government employment rose by 73,000 workers in June, accounting for roughly half of the month's gains. "The risk going forward is that slower labor force growth keeps the unemployment rate low even as the number of unemployed rises," Oxford Economics lead US economist Nancy Vanden Houten wrote in a note to clients on Thursday. Following the report, increasing bets on a July interest rate cut from the Federal Reserve reversed. Markets are now pricing in just a 5% chance the central bank lowers rates at its July meeting, down from a 24% chance seen a day prior, per the CME FedWatch Tool. Traders also grew more skeptical of a September move from the Fed, with markets now pricing in a 78% chance the Fed cuts by the end of its September meeting, down from a 94% chance seen a day prior. "Today's data make a rate cut at the July FOMC meeting quite unlikely, in our view," Wells Fargo senior economist Sarah House wrote in a note to clients on Friday. The release comes as signs of cooling in the job market have continued to emerge in recent data. On Wednesday, ADP data showed private employers unexpectedly cut 33,000 jobs in June. This marked the first month of job losses in the private sector since March 2023. Meanwhile, continuing filings for unemployment benefits recently hit their highest level in nearly four years. But the data has yet to indicate a significant, broad-based slowdown in the labor market. On Tuesday, the May Job Openings and Labor Turnover Survey (JOLTS) showed job openings ended May at their highest level since November 2024. The release also showed that quits and hiring rates remained near decade lows. ADP chief economist Nela Richardson told Yahoo Finance during a call with reporters on Wednesday that it is now clear that hiring momentum has slowed in the US labor market. Still, that doesn't mean the second half of the year will bring "consistent job declines," in Richardson's view. This is a breaking news post. More to come... Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
8 hours ago
- Yahoo
As US stocks hit records, experts see the dollar falling further
While the US stock market has fully recovered from a spring rout, the relentless drop in the dollar is prompting currency experts to warn of greater financial market turmoil ahead. The American currency is down more than 10 percent so far in 2025, a historic retreat that has overlapped with occasional spikes in long-term US Treasury yields. The anomalous dynamic suggests investors are rethinking US holdings, once considered safe havens, as they take stock of President Donald Trump's unpredictable policy shifts. While the dollar's status as the global reserve currency appears unshakeable in the near future, many currency experts expect the greenback to continue to weaken in the coming years, given expectations for slower growth after a long run of US out-performance. "It's US exceptionalism basically falling by the wayside and the rest of the world playing catch-up," said Erik Nelson, a macro strategist at Wells Fargo, who predicts the dollar will continue to depreciate. In April, global markets were shaken by "Sell America" gyrations in the stock, foreign exchange and US treasury markets, and analysts expect similar sentiment in the future. "I think the world is becoming a little bit less stable politically, which is generally kind of problematic for economic and financial market volatility," Nelson said. "We are witnessing the end of a 14-year bull run of the US dollar," said Joseph Brusuelas, chief economist at RSM US, a consultancy, who expects a "multi-year unwinding of the dollar." Harvard Economist Kenneth Rogoff, author of the 2025 book "Our Dollar Your Problem," said central banks in China and elsewhere were diversifying away from dollars even before 2025, but that Trump accelerated the trend. "I think we'll see a period of a lot of financial volatility, largely centered around the chaos in the United States," Rogoff told AFP, pointing to factors that include uncertainty about US central bank independence and the rise of populism. "We'll probably have a more volatile period in financial markets over the next 10 years than we have in the preceding." - Onshoring benefit - Both Nelson and Rogoff pointed out that the dollar at the start of 2025 was unusually lofty after surging in the weeks following Trump's November 2024 victory. Economists have since rethought assumptions that the US would continue to outperform rival economies. According to the ICE US Dollar Index, a basket of seven currencies, the dollar fell 10.7 percent through the end of June, the biggest drop in the first six months of a year since 1973. On Thursday, the dollar index rose modestly after solid US jobs data dimmed odds for imminent Federal Reserve interest rate cuts. With a gain of more than 13 percent against the dollar, the euro has been among the biggest winners following Germany's big fiscal investments in defense, even as the European Central Bank continued to cut interest rates. Besides a weaker US economic outlook, the shift in the dollar reflects expectations for looser US monetary policy. Trump has taken relentless aim at Jerome Powell, referring to the Federal Reserve Chair as "a stupid person" while calling for interset rates "at least two to three points lower" -- a huge shift in monetary policy. While Treasury Secretary Scott Bessent and other top officials have rejected suggestions they prefer a cheap dollar, a less expensive currency is beneficial to US exporters and consistent with the administration's stated goal of beefing up manufacturing. "Lower interest rates and a weaker dollar would enable the US to strengthen its economic self-sufficiency and increase onshoring," said Jason Schenker of Prestige Economics, who argues that the moves align with a muscular national security posture towards China. Market watchers have come to expect Trump to modulate his actions in response to big negative market swings. On April 9, Trump backtracked on many of the most onerous tariffs from his "Liberation Day" announcement a week earlier after a spike in Treasury bond yields hammered stocks. Later that month, he said he has "no intention" of firing Powell after earlier comments set markets ablaze. But equity markets so far appear unfazed by dollar weakness, with both the S&P 500 and Nasdaq ending Thursday's session at records. "At some point it's going to get investors' attention," Cresset Capital Management's Jack Ablin said of the weak dollar. "It signals foreign investors are less inclined to own US assets." jmb/jgc Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
