Good MorningEquity markets pulled back for a 2nd day following the Fed's latest 75 basis point interest rate hike. The takeaway from the meeting is that interest rate hikes will continue until inflation gets back into line although the pace may slacken if the data warrants. What this means for the market is that another 75 basis point hike could be coming in December if the inflation data stays hot.
Today's action will be impacted by the NFP report which is expected to show a moderately strong job increase of 200,000. If the data comes in strong like the ADP figure on Wednesday it will reinforce the idea that another 75 bps interest rate increase is on the way. More important, however, are the wage gains which should show another strong 5.0% YOY increase which is underpinning overall inflation and the Fed's need to continue raising rates. The bottom line is that economic conditions have not gotten any better and they may actually be getting worse. Featured: Forbes mag says this strategy "like finding money in the street" (Tradewins) 
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Politics | | | Shares were mostly higher in Asia on Friday led by a 5.8% jump in Hong Kong’s Hang Seng index as Chinese markets were lifted by speculation that Beijing might begin to ease pandemic restrictions.
Tokyo’s Nikkei fell, catching up after Japan’s markets were closed Thursday for a holiday... Read the Full Story |
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Markets | | | Energy Transfer (NYSE: ET) didn’t get any traction after its third-quarter earnings report Tuesday, although at least part of its decline was due to broad market action. Shares gapped down at the open Thursday, but about half an hour into the session were moving higher from earlier lows, but s... Read the Full Story |
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Markets | | | The company has no earnings and its former CEO was just convicted of fraud, but electric vehicle maker Nikola (NASDAQ: NKLA) had some good news Thursday.
Nikola reported its third quarter before the opening bell, saying its loss was narrower than Wall Street anticipated, while revenue came in highe... Read the Full Story |
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From Our PartnersAre you ready for $200 oil? Analysts believe that we could see oil prices soar past $200 a barrel -- and investors need to get ready. To help people prep their portfolios, Louis Navellier just named his #1 oil stock for 2022. | | | | Get the full story HERE. |
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Politics | | | Shares soared more than 7% in Hong Kong on Friday after a Communist Party newspaper reported that local officials were being urged not to impose overly burdensome controls to curb coronavirus infections.
The Shanghai Composite index jumped 2.5% as sentiment also was buoyed by an arti... Read the Full Story |
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Semiconductor company Advanced Micro Devices (NASDAQ: AMD) just reported their fiscal Q3 earnings on November 1, 2022, with mixed results, but a few key points give them an edge. For one, revenue is up 29% YOY, to $5.57 billion. Furthermore, net income increased by 23% to more than $1 billion. And... Read the Full Story |
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From Our PartnersI thought you'd be interested in this report from Behind the Markets.
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Markets | | | World shares were higher on Friday, led by gains in Chinese markets as investors grasped at hopes for an easing of the country’s stringent pandemic controls.
Hong Kong’s benchmark soared more than 7% but then fell back, gaining 5.4% after a Communist Party newspaper, the Global Times... Read the Full Story |
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Politics | | | Chinese officials are trying to quell an outcry over the death of a 3-year-old boy from a quarantined residential compound that added to public anger at anti-virus controls that have confined millions of people to their homes.
The boy died at a hospital in Lanzhou of carbon monoxide p... Read the Full Story |
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Wondering when the bottom may be in for shares of Papa John’s (NASDAQ: PZZA)? Want to buy some but aren’t sure when? Well, the Q3 results were no catalyst for higher share prices but they are helping to set the company up for a major rebound that could begin in 2023. While the Q3 resul... Read the Full Story |
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Politics | | | The U.S. jobs report for October will be closely watched Friday for any indication that employers are slowing their hiring — a prospect the Federal Reserve would likely welcome as a sign that the high inflation that is gripping the economy might soon begin to ease Read the Full Story |
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Choosing between eBay (NASDAQ: EBAY) and Etsy (NASDAQ: ETSY) is a simple choice between blue-chip dividends or riskier, small-cap growth. On the one hand, we have eBay, a well-established player in the eCommerce arena, and one with a well-recognized brand. It isn’t growing like it used to bu... Read the Full Story |
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Friday's Early Bird Stock Of The Day Sprague Resources LP engages in the purchase, storage, distribution and sale of refined products and natural gas. It operates through the following segments: Refined Products, Natural Gas, Materials Handling, and Other Operations. The Refined Products segment offers refined products, such as heating oil, diesel, residual fuel oil, kerosene, jet fuel and gasoline. The Natural Gas segment purchases, sells and distributes natural gas. The Materials Handling segment stores various customer owned products, which includes asphalt, clay slurry, salt, gypsum, coal, petroleum coke, caustic soda, tallow, pulp and heavy equipment. The Other Operations segment includes the marketing and distribution of coal conducted in Portland, Maine terminal, commercial trucking activity conducted by Canadian subsidiary and heating equipment service business. The company was founded by Charles Hill Sprague in 1870 and is headquartered in Portsmouth, NH. | | View Today's Stock Pick |
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