"According to the OECD, the global economy will slow only slightly this year, growing 3.2% versus 3.3% in 2024. This is considered good news because as recently as June, the OECD was forecasting even slower growth of 2.9% this year. The forecast for 2026 stands at 2.9%. So while today's updated growth predictions are stronger than what we were looking at previously, the long term trend is still down, with 2025 growth weaker than 2024, and 2026 weaker than 2025."
"In more micro-economic news, consumer medical products maker Kenvue ( NYSE: KVUE), which spun off from Johnson & Johnson in 2023, sank 7.5% yesterday after the Trump Administration Department of Health and Human Services warned that taking Tylenol during pregnancy may be linked with autism. Today the Tylenol manufacturer is winning back most of its losses and up 6.5% premarket."
"Automotive parts store chain AutoZone ( NYSE: AZO) missed earnings badly this morning, reporting a Q4 profit of only $48.71 per share, $2.22 worse than Wall Street had predicted. Revenue for the quarter, however, matched forecasts exactly at $6.24 billion. AutoZone stock is down about 2.2% premarket."
The Vanguard S&P 500 ETF (VOO) opened essentially flat, up about 0.02% premarket, as investors digest a revised OECD outlook. The OECD projects global growth of 3.2% this year, slightly below 2024's 3.3% and above June's earlier 2.9% forecast, with growth of 2.9% in 2026 and a downward multi-year trend. Kenvue fell 7.5% after a government warning linked Tylenol use during pregnancy to autism, then recovered most losses, rising 6.5% premarket. Nvidia slipped nearly 1% after a prior 4% jump tied to a $100 billion investment in OpenAI. AutoZone missed Q4 earnings, with profit $48.71 per share and revenue of $6.24 billion.
Read at 24/7 Wall St.
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