Market Overview - U.S. stock markets faced a significant downturn on November 13, 2025, marking one of the worst trading days since April, driven by concerns over high valuations of AI-related stocks and skepticism regarding the Federal Reserve's interest rate cuts [1][10] - Major indexes closed sharply lower, with the Nasdaq Composite dropping 2.3%, the S&P 500 falling 1.7%, and the Dow Jones Industrial Average shedding approximately 797 points, or 1.7% [2][10] Sector Performance - The negative sentiment was largely due to a rotation out of high-flying technology and AI stocks, as investors questioned the sustainability of their rapid gains, leading to a shift towards more defensive market areas [3] - Treasury yields increased, adding pressure to stock valuations, particularly for growth-oriented companies [3] Company-Specific News - Nvidia (NVDA) was a major drag on the market, with shares falling between 3.6% and 4.2%, as investor scrutiny over its valuation increased [5] - Tesla (TSLA) shares declined nearly 7% due to a steep year-over-year sales decline in China, highlighting competition and demand challenges [5] - The Walt Disney Co. (DIS) saw its shares tumble between 7.8% and 8.9% after missing quarterly sales forecasts, despite exceeding profit expectations [5] - Alphabet (GOOGL) experienced a notable drop of 2.3% amid the broader tech sell-off [5] - Cisco Systems (CSCO) rose 4.5% after boosting its full-year profit and revenue forecasts, driven by strong demand for networking equipment [5] - Sealed Air (SEE) shares soared between 16% and 19.6% following reports of a potential take-private deal [5] - Verizon Communications (VZ) shares rose 0.7% on plans to cut approximately 15,000 jobs for cost optimization [5] - Other AI-related stocks faced declines, including Super Micro Computer (SMCI) down 7.4%, Palantir Technologies (PLTR) down between 6.5% and 6.7%, and Broadcom (AVGO) down between 4.3% and 5.65% [5] - Companies in the cryptocurrency space also saw declines, with Robinhood Markets (HOOD) dropping nearly 9%, Interactive Brokers (IBKR) losing 7.8%, and Coinbase Global (COIN) sinking 6.9% [5] Economic Data and Federal Reserve Outlook - The market is awaiting crucial economic data, including the Consumer Price Index (CPI) and employment reports for October, which are expected to be delayed due to the recent end of the federal government shutdown [4][6] - The Federal Reserve's stance on interest rates remains a dominant theme, with skepticism about another rate cut in December, as the probability of a 25-basis-point cut decreased from 70% to approximately 53% [7] Upcoming Events - Nvidia's upcoming earnings report is highly anticipated, as it could serve as a significant test for the prevailing optimism surrounding AI technology [8]

Core Viewpoint - The Federal Reserve is expected to cut interest rates again in December due to signs of economic slowdown, particularly affecting lower-income consumers and small businesses, while wealthier individuals and larger companies continue to thrive [1][2]. Economic Conditions - The economy is described as "bifurcated," with a two-speed dynamic where lower-income groups are struggling, leading to a sluggish broader economic outlook as indicated by the Fed Beige Book [1][2]. - Signs of economic weakness may prompt the Federal Reserve to lower its neutral rate to around 3% and continue rate cuts into 2026 [2]. Federal Reserve Actions - Following a rate cut at the end of October, the likelihood of another cut in December is uncertain, with traders estimating a 50-50 chance of a 25 basis point reduction [3]. - The composition of the Federal Reserve is expected to become more dovish, regardless of the outcome of the upcoming decisions [4]. Market Outlook - Lower interest rates and tax benefits from the One Big Beautiful Bill Act are anticipated to prevent a recession, with the economy being late-cycle but not yet in recession [5]. - Concerns about overvaluation in artificial intelligence stocks are mitigated by the fact that current companies are profitable and not excessively leveraging debt for expansion [5]. - The technology sector is expected to continue driving stock market performance, indicating further potential for market growth [6].

US stocks fell sharply on Thursday, led by a decline in tech stocks as the end of the longest-ever US government shutdown was met by concern from investors that the Federal Reserve's plans for a December rate cut might be in doubt. When the closing bell rang on Wall Street, the tech-heavy Nasdaq Composite (^IXIC) suffered the sharpest losses, falling 2.3%. The benchmark S&P 500 (^GSPC) fell 1.6%, while the Dow Jones Industrial Average (^DJI) dropped 1.6%, or 797 points, to backtrack on its second record c ...

JEFFERSONVILLE, N.Y., Nov. 13, 2025 (GLOBE NEWSWIRE) -- Jeffersonville Bancorp, Inc. (OTCQB - JFBC) announced today third quarter net income of $3,293,000 or $0.78 per share compared to $3,092,000 or $0.73 per share for the same quarter in 2024. The increase in quarterly net income compared to 2024 of $201,000 was primarily attributable to a reduction in interest expense of $554,000 and an increase of $500,000 in loan interest and fees, partially offset by a reduction in other interest and dividend income o ...

Boston Fed President Collins speaking yesterday at a community banking conference, taking a cautious tone around the path forward for rate cuts. A view that is echoed by our next guest. Joining us here at Post 9 this morning is former Minneapolis Fed President Gary Stern.Gary, it's great to have you back. Good morning. >> So Collins, Daly, Bostic, sort of this school that maybe it's good to slow down.>> Uh yes, and I would agree with that. I don't think first of all I don't think there's a compelling ration ...

Market Overview - Pre-market indexes are down across the board, with the Dow down 118 points (-0.24%), S&P 500 down 20 points (-0.30%), Nasdaq down 94 points (-0.37%), and Russell 2000 down 15 points (-0.62%) [1] - The market sentiment is influenced by high AI spending concerns [1] Economic Data Expectations - Anticipation for new inflation data from the Consumer Price Index (CPI) and jobs data from Weekly Jobless Claims was unmet, with expectations for inflation to rise to +3.1% and for 225K new jobless claims [2] Company Earnings Reports - **Walt Disney Co. (DIS)** reported fiscal Q4 earnings of $1.11 per share, beating estimates of $1.03, but lower than $1.14 from the previous year, resulting in a +7.77% positive earnings surprise. Revenues were $22.46 billion, exceeding expectations by +1.72% but down from $22.57 billion year-over-year [3][4] - Despite the earnings beat, Disney shares fell -5.8% in pre-market trading, erasing +4.8% year-to-date gains, primarily due to a -6% decline in its Entertainment division and a -16% drop in network revenue [4] - **Sally Beauty (SBH)** reported earnings of 55 cents per share, surpassing the consensus of 49 cents by +12.24%, with revenues of $947.1 million exceeding expectations of $933 million, marking the third consecutive earnings outperformance [5] Upcoming Earnings and Market Sentiment - **Applied Materials (AMAT)** is expected to report fiscal Q4 results, with anticipated negative earnings growth of -9.05% and negative revenue growth of -4.93% [6] - The market is also awaiting comments from several Federal Reserve members, which may influence investor sentiment regarding future interest rate cuts [7] Federal Reserve Actions - The Federal Reserve has reduced the Fed funds rate by 50 basis points since mid-September, bringing the median rate below 4% for the first time since December 2022. There are expectations for another 25 basis points cut at the mid-December meeting, but the lack of new economic data may complicate this [8]

Financial Data and Key Metrics Changes - Fiscal fourth quarter 2025 revenue increased 22% to $460 million compared to $378 million in the prior year period [10] - Full-year 2025 total revenue increased 6% to $1.9 billion, driven by a slight increase in units and higher average selling prices [12] - Net loss for fiscal year 2025 was $116 million, or $7.22 per diluted share, compared to a net loss of $6.39 per diluted share in the prior year [15] - Adjusted EBITDA for fiscal year 2025 was $70 million, with adjusted diluted earnings per share of $0.44 [15] Business Line Data and Key Metrics Changes - New boat sales in Q4 increased 27% to $275 million, while pre-owned sales increased 25% to $91 million [10] - Same-store sales for the year grew by 6%, outperforming the industry which saw a decline of over 13% [12] - Revenue from service parts and other sales for the quarter increased 7% to $81 million [10] Market Data and Key Metrics Changes - The company experienced a 6% same-store sales growth for the year, outperforming broader industry trends [4] - Inventory levels decreased to $540 million from $591 million in the prior year, reflecting strategic inventory positioning [15] Company Strategy and Development Direction - The company completed a strategic exit from discontinued brands to focus on high-performing brands, which is expected to improve margins in the long term [5] - The company aims to maintain a disciplined approach to inventory and cost management to adapt to market conditions [17] - The outlook for 2026 anticipates flat same-store sales, with total sales expected to range from $1.83 billion to $1.93 billion [16] Management's Comments on Operating Environment and Future Outlook - Management noted that industry conditions remain challenging, with retail demand normalizing from pandemic highs and increased promotional activity [4] - There are positive signs of improved channel inventories and normalizing OEM production, which could support demand and growth [6] - Management expressed cautious optimism for 2026, expecting demand to fluctuate with traditional seasonal cycles [16] Other Important Information - The company exited the year with the cleanest inventory levels seen in years, providing a competitive advantage [5] - The company has a total liquidity of over $67 million, including cash and credit facilities [15] Q&A Session Summary Question: Can you quantify the change in inventory year over year? - The company reported a decrease of approximately 8.5%, or $50 million, year over year [19] Question: What is the right assumption for inventory for fiscal 2026? - Inventory is expected to increase modestly due to price increases, with a headwind of around 5% from exiting brands [20] Question: What is the outlook for interest rate expenses in 2026? - Interest rate expenses are expected to be flattish to slightly up for floor plan interest, while term interest should decrease [22] Question: Have consumer rates started to come down in a meaningful way? - Consumer rates have started to decrease, contributing to positive sales momentum [26] Question: How much were sales up at the Fort Lauderdale boat show? - Sales were nearly up 20% compared to last year at the Fort Lauderdale boat show [29] Question: How do you see the promotional environment playing out in fiscal 2026? - The promotional environment is expected to remain stable until manufacturers increase production [35] Question: What is the current dynamic regarding trade-ins for pre-owned boats? - There has been an increase in trade-ins as consumers are opting to sell through dealerships rather than independently [40] Question: What is the company's approach to M&A in the current environment? - The company is focused on being disciplined regarding debt and is taking a methodical approach to potential M&A opportunities [42]

US stocks fell on Thursday as investors absorbed the end of the longest government shutdown in US history, weighing its impact on the economy and the path of interest rates. The tech-heavy Nasdaq Composite (^IXIC) led losses with a nearly 0.8% drop, while the S&P 500 (^GSPC) moved down 0.5%. The Dow Jones Industrial Average (^DJI) slipped 0.2%, coming off the second record close in a row for the blue-chip benchmark. President Trump signed a bill ending the record-setting 43-day US federal shutdown into ...

U.S. equities presented a mixed picture on Wednesday, November 12, 2025, as investor optimism surrounding a potential end to the prolonged government shutdown propelled the Dow Jones Industrial Average (DJI) to a new record high. However, the tech-heavy Nasdaq Composite (IXIC) struggled, reflecting ongoing concerns about valuation in the technology sector. The S&P 500 (SPX) managed a modest gain, hovering near its recent all-time peak.Market Performance RecapThe Dow Jones Industrial Average (DJI) was the st ...

The S&P 500 Index ($SPX) (SPY) today is up +0.10%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.85%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.31%. US stock indexes are trading mixed, with the Dow Jones Industrials posting a new all-time high. There is anticipation that the US government shutdown could end as soon as today, when the House is expected to vote on the continuing resolution (CR) that the Senate already passed on Monday.  If approved, the bill goes to President Trump, who sai ...