Good MorningEquity markets got what they wanted from the Fed but it was a two-edged sword that left the S&P 500 more than 2.5% at the end of the day Wednesday. The FOMC raised rates by 765 basis points as generally expected and gave a policy statement that sounded dovish at first read. The takeaway from the statement, however, is the FOMC is prepared to keep hiking rates at the current 75 basis point clip or near-to until the data changes and the data is not good.
Not only was the latest PCE price index hotter than expected and accelerating but this week's labor data suggest economic activity isn't slowing appreciably. The ADP report came in hotter than expected and included a 7.7% increase in wages that is underpinning inflation. Add to that another upswing in oil prices and it looks like the FOMC will hit its 4.5% to 4.75% core interest rate sooner rather than later. And the S&P 500? It's still in a downtrend and heading down to retest its lows. Featured: Author of Get Rich with Dividends Is Giving Away His Ultimate Dividend Package FOR FREE! (The Oxford Club) 
|
Markets | | |
Over the past month, the share value of Apple Inc. stock (NASDAQ: AAPL) has risen nearly 10%, currently at $150.06 per share. This value sits near the median of not only the most recent 12-month price target range ($122.00 to $200.00) but also the stock's overall 52-week range ($129.04 to $182.94)... Read the Full Story |
|
From Our PartnersWe are on the cusp of a medical breakthrough. And soon, this single breakthrough could lead to the cure of over 6,000 genetic diseases, including Alzheimer's, heart disease, and even cancer! This reminds me of Amgen, where early investors made as much as 46,751% when they released their revolutionary drug to the market. | | Get all the details here > > > |
|
Markets | | |
TravelCenters of America (NASDAQ: TA) stood out the day after the company reported earnings. But not in the way investors would like. TA stock fell over 20% after the company delivered a mixed earnings report. The company beat on revenue but came in light on earnings estimates.
We&rsq... Read the Full Story |
|
Politics | | | Global stocks sank Thursday after the Federal Reserve added to recession fears by suggesting more U.S. rate hikes are likely to cool inflation.
London, Shanghai, Frankfurt and Hong Kong followed Wall Street lower after the Fed on Wednesday raised its key rate to a 15-year high. Oil pr... Read the Full Story |
|
From Our PartnersClick Here to Get Marc Lichtenfeld's Ultimate Dividend Package, Including Details on His #1 Dividend Stock... the Safest 9% Dividend in the World... the Top Three "Extreme Dividend" Stocks... and Much, Much More. | | For Free. |
|
Markets | | | Oil-and-gas explorer Devon Energy (NYSE: DVN) was trading lower Wednesday after reporting third-quarter results after Tuesday’s closing bell.
The Oklahoma-based company beat top- and bottom-line views, but investors gave a thumbs down to Devon’s plan to slash its dividend by 13%.
... Read the Full Story |
|
Politics | | | Federal Reserve Chair Jerome Powell sought Wednesday to strike a delicate balance at a moment when high inflation is bedeviling the nation’s economy and commanding a central role in the midterm elections.
Powell suggested that the Fed may decide in coming months to slow its aggressive... Read the Full Story |
|
From Our PartnersInvest in a hot tech start-up poised to be the next Ring Doorbell and Nest Thermostat
| | | | Continue Reading |
|
Markets | | |
While the company started the year off with a big earnings drop from Q4 2021, Paypal Holdings Inc (NASDAQ: PYPL), has already begun to claw its way back. And even with the rocky start they had, the digital payment systems provider is on track to continue an impressive earnings climb over the past ... Read the Full Story |
|
Politics | | | The Bank of England is expected to announce its biggest interest rate increase in three decades as it seeks to beat back stubbornly high inflation fueled by Russia’s invasion of Ukraine and the disastrous economic policies of former Prime Minister Liz Truss Read the Full Story |
|
Politics | | | Chancellor Olaf Scholz is making his first visit to China as German leader this week, a diplomatically delicate trip while Germany and the European Union work on their strategy toward an increasingly assertive and authoritarian Beijing Read the Full Story |
|
Markets | | |
Chesapeake Energy (NASDAQ:CHK) is one of the latest oil and gas companies to deliver strong earnings. On the heels of reports from “big oil” companies such as Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVK), Chesapeake showed that the little guys are getting a piece of the action as well... Read the Full Story |
|
Politics | | | Annual inflation in Turkey continued to rise in October, official figures showed Thursday, pushing the price of essential goods higher and amplifying a cost-of-living crisis in the country.
Consumer prices rose to 85.51% in October from a year earlier, and by 3.54% from the previous m... Read the Full Story |
|
Thursday's Early Bird Stock Of The Day Aileron Therapeutics, Inc., a biopharmaceutical company, focuses on developing medicines to address unmet medical needs in orphan pulmonary and fibrosis indications in the United States. The company's lead product candidate is LTI-03, a peptide, which is in Phase 1b clinical trial for the treatment of idiopathic pulmonary fibrosis (IPF). Its second product candidate is LTI-01, a proenzyme that has completed Phase 1b and Phase 2a clinical trials in LPE patients for the treatment of loculated pleural effusion. The company's pipeline also includes preclinical programs targeting cystic fibrosis and a peptide program focused on the caveolin-1 protein for systemic fibrosis indications. The company was formerly known as Renegade Therapeutics, Inc. and changed its name to Aileron Therapeutics, Inc. in February 2007. Aileron Therapeutics, Inc. was incorporated in 2001 and is headquartered in Austin, Texas. | | View Today's Stock Pick |
|
