Good MorningEquity markets pulled back on Monday after a weaker-than-expected reading of the Chicago PMI. The Chicago PMI came in at 45.2 which is not only contractionary but a decline from the previous month versus the expected improvement. The takeaway from the data is that general business conditions in the US have entered a contraction despite what the latest GDP data indicated. This, along with the index of leading indicators, suggests a worsening economic backdrop and not one that is improving. Later this week, the market may also be impacted by the NFP report as well as another large interest rate hike from the FOMC.
The market is pricing in a near 100% chance for another 75 basis point interest rate hike on Wednesday but the news may be in the statement. After the last PCE price index reading, it looks like the FOMC will have to get more aggressive and possibly keep policy tighter for longer than has already been indicated. The good news is that the S&P 500 and Dow Jones Industrial Average have had the best October in decades. If this action continues into November it could be a November to remember. Featured: Why did Biden repeal Trump's Executive Order?! (Behind the Markets) 
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It’s hard to believe that the da Vinci Surgical System developed by Intuitive Surgical (NASDAQ: ISRG) is turning 22 years old since its U.S. Food and Drug Administration (FDA) approval in 2000. A two-decade-old piece of robotic technology would be deemed a legacy product in the tech world, b... Read the Full Story |
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From Our PartnersApple is preparing to upend the auto industry with their own EV... and this $5 stock could soar 40X once it goes live! | | Click here to learn more. |
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Social media developer Meta Platforms (NASDAQ: META) stock took a (-24%) cliff dive after its Q3 2022 earnings miss. While the earnings miss has investors concerned, the revenues came in better than expected by nearly $300 million. The strong U.S. dollar make a $1.79 billion impact on revenues and... Read the Full Story |
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Politics | | | Hong Kong jumped more than 5% and other world markets also advanced after a survey of Chinese manufacturing showed activity has improved.
U.S. futures and oil prices rose, while the euro gained but stayed below $1.
The monthly manufacturing gauge from Caixin, a Chinese... Read the Full Story |
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From Our PartnersWithin 10 days of taking office, President Trump signed "Executive Order 13771" in an effort to win the battle for what 60 minutes said could be "the most consequential discovery in biomedicine this century."
So why did Biden repeal this? | | Click here to learn more > > > |
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Markets | | | Iconic motorcycle manufacturer Harley-Davidson (NYSE: HOG) was a pariah in 2018 as then-president Donald Trump villainized the Company for moving some production overseas to mitigate trade tariffs. While profits sank during the 2020 pandemic, the Company has been profitable for the past five ye... Read the Full Story |
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Politics | | | Oil giant Saudi Aramco is reporting a $42.4 billion profit in the third quarter of this year, buoyed by higher global energy prices that have filled the kingdom’s coffers but helped fuel inflation worldwide Read the Full Story |
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No one told Impinj, Inc. (NASDAQ: PI) that 2022 is a down year for technology stocks.
Shares of the emerging digital tech innovator are up more than 30% so far — and by its own standards, that’s a relatively ‘weak’ performance. Over the last three calendar years, Imp... Read the Full Story |
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Politics | | | BP’s earnings more than doubled in the third quarter as the London-based energy giant benefited from high oil and natural gas prices following Russia’s invasion of Ukraine.
Underlying replacement cost profit, which excludes one-time items and fluctuations in the value of inventories, ... Read the Full Story |
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Wondering when Saia (NASDAQ: SAIA) stock could start moving higher? The best answer is any time because this trucker is growing. Saia is a niche operator in the supply chain running a nationwide network of LTL trucking hubs and shipping services. The company has been working hard over the last goi... Read the Full Story |
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Markets | | | Sony said Tuesday its quarterly profit through September rose 24% on healthy demand for its music and movies, prompting the Japanese entertainment and electronics giant to raise its annual sales and profit forecasts.
Tokyo-based Sony’s July-September profit totaled 264 billion yen, o... Read the Full Story |
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Tech | | | Toyota said Tuesday that its profit fell 31% in the last quarter as a shortage of computer chips offset foreign exchange gains from a weaker yen.
Toyota Motor Corp.'s quarterly profit through September totaled 434 billion yen, or $2.9 billion, down from nearly 627 billion yen a year ... Read the Full Story |
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Tuesday's Early Bird Stock Of The Day Calix, Inc., together with its subsidiaries, engages in the provision of cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services. The company provides Calix Cloud platform, a role-based analytics platform comprising Calix Engagement Cloud, Calix Service Cloud, and Calix Operations Cloud, which are configurable to display role-based insights and enable BSPs to anticipate and target new revenue-generating services and applications through mobile application, such as CommandIQ for residents and CommandWorx for businesses; Calix Intelligent Access EDGE, an access network solution for automated and intelligent networks; and Calix Revenue EDGE, a premises solution for subscriber managed services. It also offers SmartLife managed services, including SmartHome managed services and applications to enhance, operate and secure the connected experience of subscribers in their home; SmartTown managed services that reimagine community Wi-Fi as a ubiquitous, secure, and managed experience across a BSP's footprint; and SmartBiz managed services that address the business networking and productivity needs of business owners with an all-in-one managed service. In addition, the company provides Wi-Fi systems under GigaSpire and GigaPro brands to be ready for deployment as a complete subscriber experience solution for BSP's residential and business subscribers. It offers its products through its direct sales force and resellers. The company was incorporated in 1999 and is headquartered in San Jose, California. | | View Today's Stock Pick |
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