iShares Trust iShares iBonds Oct 2024 Term TIPS ETF (ARCA: IBIA)

Latest news for iShares Trust iShares iBonds Oct 2024 Term TIPS ETF (ARCA:IBIA)

The Fund seeks to track the investment results of the ICE 2024 Maturity US Inflation-Linked Treasury Index (the Underlying Index), which consists of inflation-protected public obligations of the U.S. Treasury, commonly known as TIPS, that are scheduled to mature between January 1, 2024 and October 15, 2024, inclusive. The Fund is a term fund that will terminate on or about October 15, 2024, at which time it will distribute its remaining net assets to shareholders pursuant to a plan of liquidation. The Fund does not seek to return any predetermined amount at maturity or in periodic distributions.

Blackrock Cash Funds: Treasury, Sl Agency Shares

iShares iBonds Oct 2024 Term TIPS ETF

iShares Trust iShares iBonds Oct 2024 Term TIPS ETF

WIIM

GEHC

GE HealthCare Technologies shares are trading lower after the company reported worse-than-expected Q2 sales.

B of A Securities analyst Lorraine Hutchinson upgrades Gap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPS#NYSE">GPS</a>) from Underperform to Neutral and raises the price target from $18.5 to $25.

News

Upgrades

Price Target

Analyst Ratings

B of A Securities Upgrades Gap to Neutral, Raises Price Target to $25

Forex

Markets

Dow Jones Reported Japan Confirms Currency Intervention Over Past Month

Telefonica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEF#NYSE">TEF</a>) reported quarterly earnings of $0.11 per share. This is a 69.23 percent increase over earnings of $0.07 per share from the same period last year. The company reported $11.04 billion in sales this quarter. This is a 0.03 percent decrease over sales of $11.04 billion the same period last year.

Earnings

Telefonica Q2 Adj $0.11 Up From $0.07 YoY, Sales $11.04B Down From $11.04B YoY

Needham analyst Alex Henderson reiterates Arista Networks (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) with a Buy and maintains $375 price target.

Reiteration

ANET

Needham Reiterates Buy on Arista Networks, Maintains $375 Price Target

GE HealthCare Techs Q2 2024 Adj. EPS $1.00 Beats $0.98 Estimate, Sales $4.839B Miss $4.872B Estimate

Wolfe Research analyst Peter Supino downgrades Charter Communications (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) from Outperform to Peer Perform.

Downgrades

CHTR

Wolfe Research Downgrades Charter Communications to Peer Perform

Guidance

LXP Industrial Trust Tightens FY24 Estimated Adjusted Company FFO Per Share From $0.61 - $0.65 To $0.62 - $0.65, Est $0.63

JMP Securities analyst Patrick Walravens upgrades Pegasystems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEGA#NASDAQ">PEGA</a>) from Market Perform to Market Outperform and announces $85 price target.

PEGA

JMP Securities Upgrades Pegasystems to Market Outperform, Announces $85 Price Target

LXP Industrial Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LXP#NYSE">LXP</a>) reported quarterly AFFO of $0.16 per share which met the analyst consensus estimate. This is a 11.11 percent decrease over earnings of $0.18 per share from the same period last year. The company reported quarterly sales of $85.786 million which beat the analyst consensus estimate of $85.036 million by 0.88 percent. This is a 1.45 percent decrease over sales of $87.050 million the same period last year.

Earnings Beats

LXP Industrial Trust Q2 2024 AFFO $0.16, Inline, Sales $85.786M Beat $85.036M Estimate

Nobel Prize-winning economist Paul Krugman has raised concerns about potential pre-recessionary signals. He pointed to the Sahm Rule and its <a href="https://www.benzinga.com/economics/24/07/40046690/if-unemployment-rises-to-4-2-in-july-it-would-trigger-this-key-recessionary-indicator">implications for the U.S. economy</a>.
What Happened: Krugman discussed the possibility of a recession and the role of the Sahm Rule in predicting and managing economic downturns, in his opinion <a href="https://www.nytimes.com/2024/07/30/opinion/sahm-rule-unemployment-recession.html">piece</a> published in The New York Times on Wednesday.
The Sahm Rule, named after economist Claudia Sahm, is a key indicator used to predict the onset of a recession. It suggests that a recession may be underway if the average unemployment rate over the past three months has risen by 0.5 percentage points from its most recent low. 
&#8220;The Sahm rule is currently sending the right cautionary message about the labor market cooling, but the volume is too loud,&#8221; Krugman highlights the way Sahm presents its economic theory. 
This rule is designed to provide a timely signal for the federal government to take action to mitigate the recession&#8217;s impact.
&#8220;So are we entering a recession? A number of observers, including&nbsp;Sahm herself, have suggested that this time may be a bit different,&#8221; Krugman wrote. 
Krugman pointed out that the unemployment rate has been gradually increasing, potentially triggering the Sahm Rule. However, he noted that this may not necessarily indicate an impending recession. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39938672/us-stocks-tumble-magnificent-7-wipe-out-570-billion-as-mega-tech-earnings-disappoint-vix-s?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">US Stocks Tumble, Magnificent 7 Wipe Out $570 Billion As Mega-Tech Earnings Disappoint, VIX Spikes: What&#8217;s Driving Markets?</a>
Factors such as a surge in new entrants to the labor force, including immigrants and remote workers, could be contributing to the rise in unemployment, creating a statistical illusion of a weakening economy.
&#8220;We may not be in a recession yet, but the job market is looking a bit, shall we say, pre-recessionary. To be fair, other indicators are looking stronger,&#8221; Krugman wrote. 
Despite this, Krugman emphasized the need for caution, especially for the Federal Reserve. He suggested that the current state of the job market, while not indicative of a recession, warrants a strong case for cutting interest rates.
Why It Matters: Krugman&#8217;s concerns come on the heels of his recent call for the Federal Reserve to <a href="https://www.benzinga.com/news/24/07/40027070/paul-krugman-says-cut-rates-now-now-now-as-new-york-feds-inflation-measure-hits-2-06-the-eagle-has-s">cut interest rates immediately</a>. On Tuesday, Krugman urged the Fed to implement rate cuts, citing the New York Fed's inflation measure hitting 2.06% as a key factor. 
He emphasized the need for immediate action, stating, "The eagle has soft landed. The New York Fed&#8217;s measure of underlying inflation is now just 2.06 percent. The Fed should cut rates now now now." 
The upcoming Federal Open Market Committee meeting on Jul, 30-31 will be crucial. It will mark the <a href="https://www.benzinga.com/economics/macro-economic-events/24/07/40042583/will-powell-hint-at-september-rate-cut-what-major-us-investment-banks-expect-from">eighth consecutive session</a> where the federal funds rate is held steady at 5.25%-5.5%. 
As inflation eased in the second quarter and unemployment saw a slight uptick, the key question is whether policymakers, particularly Fed Chair Jerome Powell, will prepare investors for a potential rate cut in September.
The Sahm Rule has been gaining attention on Wall Street. Economist Claudia Sahm has expressed concern about the Fed's <a href="https://www.benzinga.com/news/24/06/39393497/jerome-powell-playing-with-fire-says-recession-rule-creator-claudia-sahm-about-feds-inaction-on-inte">reluctance to cut interest rates</a>, warning that it could push the economy into a recession. Sahm believes that the Fed's inaction poses a significant risk, given the increasing unemployment rate.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/40005686/argentine-president-javier-milei-reaffirms-commitment-to-abolish-export-taxes-in-address-to-farmers?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Argentine President Javier Milei Reaffirms Commitment To Abolish Export Taxes In Address To Farmers, But Frustration Grows Over Slow Reform Pace Amid Economic Challenges</a></li>
</ul>
Image Via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Global

Economics

Federal Reserve

Paul Krugman Warns Of Pre-Recession Signals, Says 'Sahm Rule Is Currently Sending The Right Cautionary Message'

Mizuho analyst Dan Dolev upgrades Upstart Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>) from Underperform to Outperform and raises the price target from $17 to $31.

UPST

Mizuho Upgrades Upstart Hldgs to Outperform, Raises Price Target to $31

Trane Technologies Raises FY24 Organic Revenue Growth Outlook To 10%; Adj EPS Outlook To $10.80 Vs. $10.54 Est.

When excluding the impact of the ACS segment wind down, the Company now expects revenue for full-year 2024 to grow between&nbsp;9%&nbsp;and&nbsp;10%&nbsp;on a constant-currency basis. Foreign currency is expected to be a&nbsp;1%&nbsp;headwind based on current exchange rates.

LIVN

LivaNova Now Expects FY24 Revenue To Grow 7% - 8% (Prior 6% - 7%) On Constant-Currency Basis; Raises Adjusted EPS Forecast From $3.05 - $3.15 To $3.10 - $3.20, Est $3.10

GRPN

Groupon shares are trading lower following a Q2 EPS miss.

Comstock Resources shares are trading lower following worse-than-expected Q2 financial results.

Guidance
The Company&#39;s full-year 2024&nbsp;guidance&nbsp;as of July 31, 2024 is shown below:
<table align="center">
<tbody>
<tr>
<td>Initial 2024&nbsp;Guidance</td>
<td>Latest Estimate(1)</td>
</tr>
<tr>
<td>Product Revenues</td>
<td>$1.5B&nbsp;&ndash;&nbsp;$1.6B</td>
<td>Low end of range</td>
</tr>
<tr>
<td>Adjusted EBITDA Margin Rate</td>
<td>12.5%&nbsp;&ndash;&nbsp;13.5%</td>
<td>Above mid-point of range</td>
</tr>
<tr>
<td>Full-year Adjusted Effective Tax Rate</td>
<td>26%&nbsp;&ndash;&nbsp;29%</td>
<td>No change</td>
</tr>
<tr>
<td>Capital Expenditures</td>
<td>$65M&nbsp;&ndash;&nbsp;$75M</td>
<td>No change</td>
</tr>
<tr>
		</tr>
<tr>
<td colspan="4">(1) Based on the current forecast of customer orders, and light vehicle production in the Company&#39;s key markets declining at a low single digit rate in 2024 versus 2023, and a EUR to USD exchange rate of&nbsp;$1.08/Euro for the remainder of the year.</td>
</tr>
</tbody>
</table>

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iShares Trust iShares iBonds Oct 2024 Term TIPS ETF

News

Latest news for iShares Trust iShares iBonds Oct 2024 Term TIPS ETF (ARCA:IBIA)