Good MorningThe rebound in equities continued for a second day on Tuesday with the S&P 500 gaining more than 3% at the high of the day. The move is a relief rally driven by less-than-impressive news in the face of rising inflation and the FOMC interest rate policy. The move in equities could continue over the next few days but there are key technical hurdles ahead that include the 30-day EMA and the top of a channel that has been dominating the action since late last year.
Wednesday's action may be driven by economic data although the ADP report is not expected to be strong. A Goldilocks number for the market would be in the 100,000 to 200,000 range where job gains are still present but not so strong as to move the Fed. The true market mover, however, will be the NFP report on Friday. The NFP report is expected to show a moderately strong gain of 275,000 which would be sufficient to keep the Fed on its current course. Featured: $200 Oil Sooner Than You Think -- Buy This Now (IPM) 
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Politics | | | The World Trade Organization is predicting global trade volumes to grow a lackluster 1% next year as higher energy prices, rising interest rates and uncertainties about Chinese manufacturing output amid the lingering COVID-19 pandemic weigh on markets Read the Full Story |
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Markets | | | Shares of Vertex Pharmaceuticals (NASDAQ: VRTX) moved more than 2% higher last week and were up another 3.41% so far this week. The bounce followed news that regulators gave the company the go-ahead to begin the review process for a gene-editing treatment for two rare blood conditions.
Vertex... Read the Full Story |
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The major U.S. stock indices got clobbered on September 30, closing out one of the worst months and quarters in recent history.
Much of the finger-pointing has been directed toward the Fed. In an effort to cool stubbornly high inflation, Chairman Powell's aggressive rate hikes appear to be ... Read the Full Story |
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Politics | | | European indexes fell in early trading and U.S. futures were down as selling pressure kicked in Wednesday after a few days of strong gains.
Asian shares advanced, led by a nearly 6% jump in Hong Kong's share benchmark as markets there caught up after reopening from a holiday.
... Read the Full Story |
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As we approach the third quarter earnings season, Olympic high jumpers are feeling relieved while limbo artists are stressed.
Translation: the bar is set really low.
For Q3, S&P 500 companies are expected to collectively report 2.9% higher profits than a year ago. According to Factset,... Read the Full Story |
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Global meat and poultry products producer Tyson Foods (NYSE: TSN) stock has been in a nine week losing streak falling (-24%) for the year. The Company has faced all kinds of problems this year putting pressure on its shares which are trading at 7.5X forward earnings with a 2.79% annual dividend yi... Read the Full Story |
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Politics | | | British Prime Minister Liz Truss is due to defend her economic plans as she tries to convince her Conservative Party — and the country — that the pain unleashed by her tax-cutting agenda will be worth it Read the Full Story |
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Politics | | | International creditors should provide debt relief to Sri Lanka to alleviate suffering as its people endure hunger, worsening poverty and shortages of basic supplies, Amnesty International said in a statement Wednesday.
For months, Sri Lanka has been in the grip of a dire economic cr... Read the Full Story |
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Markets | | | Electricity supply across Bangladesh has been restored after the South Asian country plunged into a blackout following the failure of its national power grid, officials said.
The blackout, which impacted much of the country, started at 2:05 p.m. on Tuesday and lasted for nearly seven ... Read the Full Story |
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The prospect of “just getting by” with your pension may seem terrifying. Whether you work for a company that provides regular pension contributions or you are self-employed, you should always understand the facets of a quality pension plan. It’s never too early to start.
In this... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day Tootsie Roll Industries, Inc., together with its subsidiaries, engages in the manufacture and sale of confectionery products in the United States, Canada, Mexico, and internationally. It sells its products under the Tootsie Roll, Tootsie Fruit Rolls, Frooties, Tootsie Pops, Tootsie Mini Pops, Child's Play, Caramel Apple Pops, Charms, Blow-Pop, Charms Mini Pops, Cella's, Dots, Junior Mints, Charleston Chew, Sugar Daddy, Sugar Babies, Andes, Fluffy Stuff, Dubble Bubble, Razzles, Cry Baby, NIK-L-NIP, and Tutsi Pop trademarks. The company sells its products directly to wholesale distributors of candy, and food and groceries; and supermarkets, variety stores, dollar stores, chain grocers, drug chains, discount chains, cooperative grocery associations, mass merchandisers, warehouse and membership club stores, vending machine operators, e-commerce merchants, the United States military, and fund-raising charitable organizations, as well as through food and grocery brokers. Tootsie Roll Industries, Inc. was founded in 1896 and is headquartered in Chicago, Illinois. | | View Today's Stock Pick |
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