Good MorningEquity markets rebounded strongly on Thursday after a round of better than expected earnings reports and cooler than expected inflation data. On the inflation front, the PPI index came in below expectation and is the first sign the steep rise in prices may be ending. The caveat is that at YOY inflation gains continue to accelerate and may not end soon. There are no companies on Wall Street talking about lowering prices or deflation and most are still in price-rising mode.
Turning to the charts, the S&P 500 index is confirming a bottom at the 4,300 level. Thursday’s move confirms a Head & Shoulders reversal pattern that suggests a new all-time high will be set soon. If the pattern continues as expected the market could set a new all-time high within the next two to three weeks.
Featured: Billionaires Are Dropping Oil for “American Energy” (Stansberry (Affiliate)) 
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Markets | | | After taking a major downturn in the summer, cryptocurrencies have been bouncing back in a big way throughout October and proving that investors still have an appetite for these high-flying and volatile digital assets. With dozens of firms filing for SEC approval of bitcoin-based ETFs and Federal Re... Read the Full Story |
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Tech | | | Shares were mostly higher in Europe and Asia on Friday after technology companies powered the biggest rally on Wall Street since March.
Investors have been encouraged by strong earnings reports, as every S&P 500 company that has reported earnings this week has beaten forecasts.
... Read the Full Story |
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Markets | | | Commercials Metals’ fiscal Q4 earnings report sparked a 3.0% decline in the stock that we think irrational. The move was sparked not so much because the company posted weak results but because results were a slim margin below the analyst’s consensus. Read the Full Story |
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Politics | | | The Biden administration is taking steps to address the economic risks from climate change, issuing a 40-page report Friday on government-wide plans to protect the financial, insurance and housing markets and the savings of American families.
Under the report, the mortgage process, st... Read the Full Story |
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Markets | | |
Investors who favor higher growth companies can often find good choices in the mid cap space. Businesses in this market cap range tend to be less mature and have greater growth prospects.
Investors who like a reliable, growing income stream seek out stocks that have a track record of raising thei... Read the Full Story |
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Politics | | | Hong Kong and mainland authorities have seized about $540,000 worth of smuggled Australian lobsters believed to be bound for the mainland, after China restricted imports of the crustacean amid escalating tensions with Australia Read the Full Story |
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Tech | | | Asian shares were higher Friday after technology companies powered the biggest gain on Wall Street since March.
All major regional indexes advanced, with Tokyo gaining 1.8%.
Taiwan shares jumped 2.4% on news that computer chip maker TSMC upgraded its profit outlook.
... Read the Full Story |
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Tech | | | Nippon Steel Corp. is suing Toyota Motor Corp. over a patent for a technology used in electric motors in a rare case of legal wrangling between Japan’s top steelmaker and automaker over intellectual property Read the Full Story |
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Stocks | | |
Cruise ship operator Royal Caribbean (NYSE: RCL) stock has been recovering since its pandemic lows powered by pent-up demand. The acceleration of COVID vaccinations is bolstering bookings for 2022. The cruise line reported that 92% of the people on board its ships in July are vaccinated, with the ... Read the Full Story |
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Healthcare | | |
Record Results Lift UnitedHealth To New Highs
UnitedHealthcare (NYSE: UNH) has been one of our top choices among healthcare stocks for some time. The company is well-run, growing, and pays a healthy dividend so what is there not to like? The addition of Optum to the fold only optimized that outlo... Read the Full Story |
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The Early Bird Stock Of The Day Smith & Nephew plc engages in the development, manufacture, marketing, and sale of medical devices. It operates through the following segments: Orthopaedics, Sports Medicine and ENT, and Advanced Wound Management. The Orthopaedics and Sports Medicine and ENT segment consists of the following businesses: knee implants, hip implants, other reconstruction, trauma, sports medicine joint repair, arthroscopic enabling technologies, and ENT. The Advanced Wound Management segment includes advanced wound care, advanced wound bioactives, and advanced wound devices businesses. The company was founded in 1856 and is headquartered in Watford, the United Kingdom. | | View Today's Stock Pick |
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