Good MorningEquities went on a wild ride Thursday first rebounding only to peak out midday on comments from the Fed. Fed President Harker made comments to the effect that inflation was not under control, the FOMC was still hiking rates, and that additional rate increases could be large. The market made an abrupt about-face on the news, confirming resistance at the short-term 30-day moving average for the 3rd day in a row. If the market can not break this trend the odds of a pullback to 3,500 will grow to a near certainty.
The next FOMC meeting is less than two weeks away and the CME FedWatch Tool is pricing in a near 100% chance for another historic 75 basis point interest rate hike. Between then and now, the PCE price index for September will be released and it is likely to be a hot one. The takeaway now is that 75 basis point rate hikes could be on the table until inflation comes down to a manageable level. Featured: Forget All Other Stocks. Focus Here. (Darwin) 
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Markets | | | Snack food giant Mondelez International (NASDAQ: MDLZ) stock is trading down (-13%) for the year faring better than the S&P 500 (NYSEARCA: SPY) which has fallen (-25%), respectively. Mondelez is the world’s top seller of cookie biscuits and the 3rd largest chocolate maker ahead of #5 Hersh... Read the Full Story |
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Markets | | | Energy-sector strength was on display Thursday as oil-and-gas explorer Matador Resources (NYSE: MTDR) was trading within 3% of its June 8 high of $67.78.
The Dallas-based mid-cap reports its third quarter on October 25, with analysts anticipating earnings of $2.53 a share on revenue of $766.17 mill... Read the Full Story |
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Markets | | |
Freeport McMoran (NYSE: FCX) third-quarter results came in weaker on the back of copper prices retreating. Copper prices had run up significantly in the previous year, and since then have declined by almost 30%. Copper is usually seen as a leading indicator, due to its inherent involvement with th... Read the Full Story |
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Markets | | | AT&T (NYSE: T) gapped up 4.86% Thursday after the company dialed in better-than-expected third-quarter revenue and earnings. Those numbers were driven by a higher wireless postpaid subscriber count than analysts anticipated.
Around 30 minutes into Thursday’s session, AT&T was tr... Read the Full Story |
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Tech | | | Thailand's telecoms regulator has agreed to allow a merger between the country's two main phone carriers in a decision that raises worries over whether reduced competition will harm consumer interests Read the Full Story |
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Politics | | | Asian shares were mostly lower Friday in muted trading, as investors kept an eye on inflation and awaited the outcome of a Communist Party congress in China.
Benchmarks fell in most regional markets but rose in Mumbai.
China's ruling party congress is expected to wrap ... Read the Full Story |
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Tech | | | Japanese medical equipment maker Olympus said Friday it has named as its next chief executive Stefan Kaufmann, a German who has worked for two decades at the manufacturer once known for old-style photographic cameras.
Kaufmann's appointment will take effect in April, pending board ap... Read the Full Story |
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Politics | | | Global shares were mostly lower Friday in muted trading, as investors kept an eye on inflation and awaited the outcome of a Communist Party congress in China.
France's CAC dipped 1.6% in early trading to 5,988.78. Germany's DAX lost 1.4% to 12,584.52.
Britain's FTSE 10... Read the Full Story |
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Politics | | | Japanese Prime Minister Fumio Kishida, who is traveling to Australia for talks with his Australian counterpart Anthony Albanese, says he wants to bolster military and energy cooperation between the two countries amid their shared concerns about China Read the Full Story |
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Markets | | |
Tesla (NASDAQ: TSLA) continued to witness revenue growth, but fell slightly short of expectations, as demand from Asia, particularly China, did not live up to expectations. Tesla’s stock has been quite resilient through the year, despite the broader market falling precipitously as inte... Read the Full Story |
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Friday's Early Bird Stock Of The Day DICE Therapeutics, Inc., a biopharmaceutical company, builds various oral therapeutic candidates to treat chronic diseases in immunology and other therapeutic areas. Its platform DELSCAPE is designed to discover selective oral small molecules to modulate protein-protein interactions as effectively as systemic biologics. The company's lead therapeutic candidate is DC-806, an oral antagonist of the pro-inflammatory signaling molecule, interleukin-17 (IL-17) that is a validated drug target implicated in a various immunology indications. It also develops DC-853, an oral IL-17 antagonist. In addition, the company is developing oral therapeutic candidates targeting alpha 4 beta 7 integrin for the treatment of inflammatory bowel diseases, as well as targeting alpha V beta 1/ alpha V beta 6 integrin for the treatment of idiopathic pulmonary fibrosis. Further, it focuses on programmed death-ligand 1 program, an immuno-oncology targeting antibody therapeutics. The company was founded in 2013 and is headquartered in South San Francisco, California. | | View Today's Stock Pick |
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