Good MorningEquity Traders shrugged off a weaker-than-expected employment report from ADP in favor of the earnings outlook. The ADP report shows less than half the expected jobs were created in August putting a damper on the outlook for economic activity. The upshot is that ADP figures rarely track in line with the NFP figures which leaves the door open for the NFP report to impress the market on Friday. If not, equities could reverse their upward trend and begin moving lower once again.
In other news, the ISM Manufacturing Index and the construction spending data we're both better than expected. This data is contrary to the weaker-than-expected employment figures and point not only to continued economic activity but an acceleration of activity in the third quarter of the year. The key takeaway is that the earnings outlook continues to improve, so long as those conditions remain in place the S&P 500 should continue to move higher.
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Politics | | | Global stocks rose Thursday after soft U.S. jobs surveys fueled optimism the Federal Reserve might feel less pressure to wind down stimulus.
Markets in Shanghai, Tokyo and Frankfurt rose while London opened little changed.
Wall Street futures were higher after the bench... Read the Full Story |
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Politics | | | Asian stock markets were mixed Thursday after soft U.S. jobs data fueled optimism the Federal Reserve might feel less pressure to wind down stimulus.
Shanghai and Tokyo advanced while Seoul and Sydney declined. Hong Kong was little-changed.
Wall Street's benchmark S&... Read the Full Story |
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Markets | | | DocuSign stock is up 33% this year, easily outpacing the S&P 500 index which is up 22%. And heading into its earnings report on September 2, DOCU stock looks to be consolidating. Investors should expect the stock to get a bullish lift from what is likely to be a strong earnings report. Read the Full Story |
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Markets | | | Since going public for the second time in March, JOAN stock has failed to capture the imagination of bullish investors. But with the stock showing signs of being oversold, a positive earnings report in advance of the "crafting season" could change the narrative very quickly. Read the Full Story |
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Politics | | | Bethany Mayer didn't want to go back to work after learning that a fellow ironworker insinuated that women like her didn't belong there.
Jordyn Bieker, an apprentice sheet metal worker in Denver, said she felt uncomfortable that her foreman asked her pointed questions about being gay.... Read the Full Story |
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Markets | | |
The pandemic has brought all sorts of changes to how corporate America operates. Business models are shifting to e-commerce and expenses on things like travel and marketing are being re-examined.
Another major development is the amount of cash companies are piling up. While economic conditions ha... Read the Full Story |
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Politics | | | WELLINGTON, New Zealand — A man in New Zealand who had tested positive for the coronavirus faces criminal charges after he escaped from an Auckland quarantine hotel and returned home, according to authorities.
In New Zealand, people who test positive for the virus are routinely requi... Read the Full Story |
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Politics | | | KAMPALA, Uganda — The African Union’s COVID-19 envoy says vaccine doses produced by a plant in South Africa will no longer be exported to Europe after the intervention of South Africa’s government.
Strive Masiyiwa told reporters Thursday that South African drug manufacturer Aspen, whi... Read the Full Story |
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Markets | | | PVH Corp (NYSE: PVH) was not alone when it decided to suspend the dividend last year. The move was an aggressive attempt to sustain capital in the face of the COVID-19 pandemic and one that helped the business weather the storm. Read the Full Story |
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Markets | | |
What if you received a dollar for your retirement account every time you saw a kid running around, screeching on a soccer field this fall? You'd sure have a plump retirement savings account.
Unfortunately, nobody pays you to put your kid in soccer. In fact, the money seems to melt away as soon as... Read the Full Story |
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The Early Bird Stock Of The Day Upstart Holdings, Inc., together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small dollar loans that connects consumer demand for loans to its to bank and credit unions. Upstart Holdings, Inc. was founded in 2012 and is headquartered in San Mateo, California. | | View Today's Stock Pick |
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