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Myanmar Earthquake: Death Toll Climbs to 3,145 Amid Ongoing Rescue Efforts

The devastating earthquake that struck Myanmar nearly a week ago has claimed at least 3,145 lives, with search and rescue teams continuing to recover bodies from the rubble. The 7.7 magnitude quake, which had its epicenter near Mandalay, Myanmar's second-largest city, caused widespread destruction, including collapsed buildings, damaged roads, and destroyed bridges.  Humanitarian aid groups are working tirelessly to provide survivors with medical care and shelter, as thousands remain homeless and vulnerable to disease outbreaks. The United Nations estimates that over 17 million people have been affected by the disaster, with more than 9 million severely impacted.  In response to the crisis, Myanmar's military government has declared a temporary ceasefire to facilitate relief efforts. However, ongoing challenges, including communication blackouts and difficult-to-reach areas, have hindered the full assessment of the disaster's impact.  The coming days will be critical in d...
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Stock Market Today: Dow Ends Lower as Investors Await Key Inflation Data

                                                    


The stock market experienced a cautious retreat today as investors closely monitored ongoing quarterly earnings reports from corporate America. All eyes are now on the release of key inflation data later this week.

Market Recap

  • Dow Jones Industrial Average (DJI): The Dow closed 66 points lower, representing a 0.2% decline by 16:00 ET (21:00 GMT).
  • S&P 500: The broader market index fell 0.4% during the same period
  • NASDAQ Composite: The tech-heavy NASDAQ slipped 0.1%.

Earnings Highlights

Several companies made headlines with their earnings announcements

  1. Domino’s Pizza (NYSE: DPZ): Despite inflation pressures impacting margins, Domino’s Pizza stock soared over 5% after reporting quarterly results that exceeded Wall Street expectations. The pizza chain also announced a dividend hike and approved further share repurchases.
  1. Freshpet Inc (NASDAQ: FRPT): The pet-food manufacturer’s stock surged nearly 19% as fourth-quarter revenue and profit beat analyst estimates. Increased sales, coupled with strategic media spending, contributed to Freshpet’s strong performance.
  1. Berkshire Hathaway (NYSE: BRKa): Despite posting its second consecutive record annual profit, Warren Buffett’s conglomerate saw its shares decline by 1.7%, inching closer to a $1 trillion market value.

Retail Earnings Ahead

As the fourth-quarter earnings season winds down, attention shifts to major retailers. Keep an eye on the following companies releasing their quarterly results this week:

  • Lowe’s Companies (NYSE: LOW)
  • Macy’s (NYSE: M)
  • TJX Companies (NYSE: TJX)
  • Best Buy (NYSE: BBY)

These retail earnings reports will provide insights into consumer strength amid concerns about sticky inflation and the prospect of higher interest rates.

Awaiting Inflation and GDP Data

Last week, the Federal Reserve signaled its reluctance to trim interest rates in the near term. However, investors remain cautious as they anticipate more key inflation readings. Specifically, the PCE price index, the Fed’s preferred inflation gauge, is in focus. Additionally, a second reading of fourth-quarter gross domestic product (GDP) data is due on Wednesday. While U.S. economic growth has remained resilient compared to other developed countries, recent quarters have seen a cooling trend.

Keep an eye on market developments as we navigate the intersection of earnings, inflation, and economic data.


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