Good MorningThe rebound in equities reversed course on Thursday following some hotter than expected inflation data. The CPI reading for January shows prices advanced 0.6% for the month on a headline and core basis, or 0.2% hotter than expected on both counts. The month-to-month gains were accompanied by acceleration on a YOY basis as well with core CPI up 6.0% from last year. This marks the 10th month of hot and rising inflation and puts increased pressure on the FOMC to act and act quickly. Fed President James Bullard came out with comments in the wake of data saying he favored 100 basis points of interest rate increases by June including a 50 basis point increase to start.
The SPX fell on the news, confirming resistance at the short-term moving average and the most recent peak in prices, putting the market in danger of a retest of the recent lows. If the market is not able to hold those lows a much deeper correction, perhaps as much as 10% more, could come within weeks. Featured: Say Goodbye To your Smartphone (Legacy Research) 
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Stocks | | | Whether you’re looking to strengthen your portfolio through diversification or create new rivulets toward a raging waterfall of growth (see the symbolism?), international stocks can have a heavy hand in getting you there. Read the Full Story |
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Markets | | | Dow Jones components are known to be financially stable blue-chip companies, which means they can make for great long-term holds.If you’re interested in exploring these types of equities, here are 3 dependable Dogs of the Dow to buy now Read the Full Story |
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Politics | | | Shares were mostly lower Friday in Asia after a sell-off on Wall Street spurred by news that U.S. inflation jumped 7.5% in January, which raised expectations the Federal Reserve will need to move forcefully to cool the economy by raising interest rates.
The hottest ... Read the Full Story |
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Politics | | | World shares declined Friday after a sell-off on Wall Street spurred by news that inflation in the U.S. jumped 7.5% in January.
Benchmarks fell in London, Paris and Hong Kong and U.S. futures also were lower. Markets in Japan were closed for a holiday.
Price pressures... Read the Full Story |
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Data storage solutions company Western Digital (NYSE: WDC) stock collapsed on lowered guidance and the sell-off in the benchmark indexes. The sequential lowered guidance is troubling for investors despite having beaten earnings estimates by $0.18 per share. Investors are questioning whether the Co... Read the Full Story |
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Markets | | | Thai authorities scrambled Friday to contain the country’s second oil spill in less than three weeks in the Gulf of Thailand.
An estimated 5 tons (1,320 gallons) was believed to have leaked 20 kilometers (12 miles) off the eastern province of Rayong, in the same location where at lea... Read the Full Story |
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Tech | | | California regulators have sued electric car maker Tesla Inc. They allege the company has been discriminating against Black employees who have been likened to monkeys and slaves at the San Francisco Bay Area factory where most of its vehicles are made Read the Full Story |
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Politics | | | Addressing diminished treatment options in the omicron wave, the Biden administration has purchased enough of a yet-to-be approved antibody drug to treat 600,000 COVID-19 patients, officials said Thursday.
The new monoclonal antibody from pharmaceutical giant Eli Lilly will be shipped... Read the Full Story |
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Markets | | | Kellogg Company (NYSE: K) has been on our radar the last few years because of pandemic tailwinds but, more importantly, the yield-to-value that it offers to investors. The company is a high-yield and deep-value relative to other consumer staples stocks and it is one that we see experiencing a price-multiple expansion over the next few years. Read the Full Story |
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Markets | | | iRobot (NASDAQ: IRBT) performed exactly as we expected them to, the bad news is that we were expecting supply chain issues and microchip shortages to curtail the results and they did. The company estimates the issues cost them $35 million in unfulfilled orders, worth 770 basis points of quarterly revenue, and these issues aren’t expected to subside in the first half of the year. Read the Full Story |
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Friday's Early Bird Stock Of The Day Environmental Impact Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or more businesses. The company was incorporated in 2020 and is based in New York, New York. | | View Today's Stock Pick |
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