Good MorningInvestors pushed the major indices marginally higher in Wednesday trading after a clear case of when good news is bad for the market. The ADP employment report was released early on Wednesday morning and came in much better than expected. The consensus estimate was close to 45,000 and the actual results were nearly 4 times better.
The news is good in the sense that rising employment and improving labor market conditions will help support the economy. The news is bad in the sense it is another bit of evidence that undermines the need for another large, broad economic stimulus package. The S&P 500 advanced about 0.45% to trade just shy of the recently set all-time high. The day’s range was very small, less than 50 points, and shows a market unsure of what to do next.
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Politics | | | World shares were mostly higher on Wednesday as investors bet on eventual approval of a relatively big version of President Joe Biden's pandemic relief bill. The advance followed a broad rally on Wall Street, with solid contributions from Big Tech companies, banks and other sectors.
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Markets | | | Manpower had a solid 4th quarter and I can’t say I am not surprised. Not only is the core employment data, not just the weekly jobless claims or monthly payroll figures, showing steady and marked improvements from month to month Read the Full Story |
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Markets | | | Pinterest (NYSE: PINS) is set to report its Q4 earnings tomorrow after the bell. The online product and idea discovery platform has been one of the biggest pandemic winners; shares have roughly quadrupled since the beginning of 2020. Read the Full Story |
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Politics | | | Senior politicians from Britain, Northern Ireland and the European Union are meeting Wednesday in a bid to defuse post-Brexit trade tensions that have shaken Northern Ireland’s delicate political balance.
British Cabinet minister Michael Gove, European Commission Vice President Maros ... Read the Full Story |
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Markets | | | Mobile social gaming platform Zinga (NASDAQ: ZNGA) stock has been hitting record highs on the success of its gaming apps. The growth in both revenues and daily active users (DAU) can be attributed to the stay-at-home mandates triggered by COVID-19 pandemic in 2020 along with its acquisition strategy... Read the Full Story |
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Markets | | | Semiconductor lithography systems maker ASML Holdings N.V. (NASDAQ: AMSL) stock has been rising in a parabolic manner as the insatiable global demand for faster, cheaper, and more powerful chips continue to accelerate. Read the Full Story |
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Markets | | | Just a few years ago, car subscriptions looked like the next sure thing. Picking up on consumers’ comfort with paying monthly for the likes of streaming services or phones, many automakers introduced programs that allowed people to get a new car and a variety of perks for a monthly fee. As an altern... Read the Full Story |
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Politics | | | BERLIN — A German military medical team is heading to Portugal to help that country deal with a spike in coronavirus cases.
The team of 26 doctors and nurses was flying to Portugal Wednesday from Wunstorf, in northern Germany. Dr. Ulrich Baumgaertner, the head of the military’s medica... Read the Full Story |
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Politics | | | PRAGUE — The Czech Republic has surpassed a milestone of 1 million confirmed coronavirus infections since the pandemic began.
The Health Ministry said Wednesday that the day-to-day increase in new infections was 9,057 cases for a total of more than 1 million. The country of 10.7 milli... Read the Full Story |
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Markets | | | Since spinning off from McDonald's 15 years ago, Chipotle Mexican Grill (NYSE:CMG) has had its share of ups and downs. Issues related to foodborne illness outbreaks damaged the company's reputation and sales a few years back. Read the Full Story |
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The Early Bird Stock Of The Day MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Logistics and Storage (L&S) and Gathering and Processing (G&P) segments. The Logistics and Storage segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water. The Gathering and Processing segment gathers, processes, and transports natural gas, and gathers, transports, fractionates, stores, and markets natural gas liquids (NGLs). The company was founded on March 27, 2012 and is headquartered in Findlay, OH. | | View Today's Stock Pick |
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