Good MorningEquity markets plunged on Thursday following hot inflation data. The September read of the Consumer Price Index came in hotter than expected at the headline and core levels as the cost of housing and wages continue to rise. The data seals the deal in regard to the Fed's next move which will be another 100 basis point interest rate hike according to the CMEs FedWatch Tool. If the next PCE Price Index reading is hot as well the FOMC could be forced to become even more aggressive. Technically speaking, the move hit a key support target at 3,500 which sparked a massive rebound that left the index up for the day.
Earnings season gets into high gear today with reports from the Big Banks. The banks are expected to show the benefit of rising interest rates but may scare the market if consumer and business banking results are weaker than expected. Rising interest rates help the spread upon which the banks make their money but also cut into economic activity. Featured: Do You Own These 7 Inflation-Survival Stocks? (Mauldin Economics) 
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Since its emergence as a “meme stock” in early 2021, AMC Entertainment (NYSE: AMC) has gone through bouts of short selling, short covering and just plain-old buying and selling.
Does continued short selling in AMC mean investors could see a bounce due to covering or a short sque... Read the Full Story |
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Politics | | | Global stock markets surged Friday after Wall Street rebounded from a slump caused by higher-than-forecast inflation numbers.
Market benchmarks in London and Paris opened up more than 1%. Tokyo jumped 3.3% for its biggest one-day gain in seven months. Hong Kong and Shanghai also rose.... Read the Full Story |
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Markets | | | Casino operator MGM Resorts (NYSE: MGM) has been profitable during the post-pandemic recovery faring much better than leading rival casinos Las Vegas Sands (NYSE: LVS), Wynn Resorts (NASDAQ: WYNN), Melco (NASDAQ: MLCO). Ironically, its shares are down (-25%) lagging Las Vegas Sands stock ... Read the Full Story |
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Politics | | | Embattled British Prime Minister Liz Truss scheduled a hastily arranged news conference on Friday, after her Treasury chief dashed back to London for urgent talks on an economic package that sparked market turmoil.
Truss’ office did not disclose the subject of the press conference, bu... Read the Full Story |
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Politics | | | What keeps driving inflation so high? The answer, it seems, is nearly everything.
Supply chain snarls and parts shortages inflated the cost of factory goods when the economy rocketed out of the pandemic recession two years ago. Then it was a surge in consumer spendi... Read the Full Story |
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Shares of Walgreens Boots Alliance (NYSE: WBA) are up more than 6% after the company posted a double beat in its fourth quarter earnings report. The company wrapped up its fiscal year with earnings per share (EPS) of 80 cents on revenue of $32.45 billion. That beat analysts’ expectations for... Read the Full Story |
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Markets | | | Eager to admire colorful foliage, eat sushi and go shopping, droves of tourists from abroad began arriving in Japan on Tuesday, with the end of pandemic-fighting border restrictions that had been in place for more than two years.
"We got the news that we can finally come. We are real... Read the Full Story |
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Tech | | | A lawyer for billionaire Elon Musk had barely begun speaking during a recent hearing when the Delaware judge presiding over Twitter's lawsuit against Musk abruptly cut her off.
“Skip the rhetoric and go to the meat,” Chancellor Kathaleen St. Jude McCormick said bluntly.
... Read the Full Story |
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Markets | | | A 4% jump in Delta’s (NYSE: DAL) shares on a day when the S&P 500 index sank to fresh lows is a good indication of what they might do over the next few months. The catalyst for the move higher was the company’s Q3 earnings report, which was released just before the bell rang to start... Read the Full Story |
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As interest rates rise, mortgage rates have climbed close to 7% over the past few months. This means that demand for housing has come down significantly. A number of factors, including the prevalence of working from home, has led many people to move away from metropolitan areas. Now that interest ... Read the Full Story |
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Friday's Early Bird Stock Of The Day Rocket Pharmaceuticals, Inc., together with its subsidiaries, operates as a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases. It has three clinical-stage ex vivo lentiviral vector programs for fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction; and pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia. The company also has a clinical stage in vivo adeno-associated virus program for Danon disease, a multi-organ lysosomal-associated disorder leading to early death due to heart failure; Plakophilin-2 Arrhythmogenic Cardiomyopathy, an inheritable cardiac disorder; and BAG3 Dilated Cardiomyopathy. It has license agreements with Centro de Investigaciones Energéticas, Medioambientales y Tecnológicas, Centro de Investigacion Biomedica En Red, and Fundacion Instituto de investigacion Sanitaria Fundacion Jimenez Diaz; UCL Business PLC; The Regents of the University of California; and REGENXBIO, Inc. Rocket Pharmaceuticals, Inc. was founded in 1999 and is headquartered in Cranbury, New Jersey. | | View Today's Stock Pick |
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