Good MorningThe sell-off in equities extended for a third week with the S&P 500 shedding about 2% for the session. The move was driven by increasing fear of FOMC aggression and could easily take the index back down to the 4,200 level. The risk for the market now is that 4,200 will not hold and a much deeper decline is on the way. That decline could be sparked by the Fed when it begins hiking rates because there is a real risk of recession. The CME Fedwatch Tool has the market pricing in 8 to 10 quarter-point hikes by July which would be the fasted pace in living memory.
Next week's action will be all about earnings and inflation. The peak of Q1 reporting begins next week and should bring upwards of 100 earnings reports from S&P 500 companies. On the inflation front, the PCE Price Index is slated for release on Friday and could mark the end of any pretense of bullishness in the market. This will be the 13th report since inflation began to spike and there is every indication it will be another hot report.
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Markets | | |
These 3 Reliable Stocks Are Ideal for Retirement Portfolios
Resilience is a difficult quality to find in the stock market, which is why investors tend to pay a premium for established companies that can provide solace during market volatility. These are the types of investments that you can count... Read the Full Story |
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Markets | | |
A unique environment brings uncertainty to both companies
As earnings season begins in earnest, the market heard from two companies that benefited from the surge in used car demand in 2021. Carvana (NYSE:CVNA) and AutoNation (NYSE:AN) were hoping to deliver reports that would change the for... Read the Full Story |
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Markets | | | It’s looking like it could be a volatile end to the week of shares of Snap (NYSE: SNAP), the social media giant. They reported their Q1 earnings after yesterday’s bell and the numbers were well off the mark. Non-GAAP EPS was in the red at -$0.02, when a minor profit had been expected by ... Read the Full Story |
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Politics | | | European stocks declined Monday, tracking losses in Asia as worries over interest rate hikes dominated an array of investor concerns.
The Shanghai Composite index sank 5.1% and Hong Kong fell 3.7% as China reinforced its stringent pandemic policies while case numbers rose.
... Read the Full Story |
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Markets | | | Global logistics real estate investment trust (REIT) Prologis (NYSE: PLD) stock has been resilient in the face of the sell-off in benchmark indices. The world’s largest REIT focuses on building and managing logistics warehouses throughout America, Europe, and Asia. Shares recently hit an all-t... Read the Full Story |
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Politics | | | MOSCOW — The Russian military says it will open a humanitarian corridor for civilians to evacuate from the besieged steel plant in Mariupol.
The Russian Defense Ministry said a humanitarian corridor will open at 2 p.m (1100 GMT) Monday for all civilians to leave the Azovstal plant in ... Read the Full Story |
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Politics | | | MOSCOW — Russian authorities say a fire has engulfed an oil storage facility in western Russia.
The Emergencies Ministry said a huge blaze at the depot in the city of Bryansk erupted early Monday. Its cause wasn’t immediately clear.
The oil depot is owned by Transneft-D... Read the Full Story |
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Politics | | | MOSCOW — Russian authorities say a fire has engulfed an oil storage facility in western Russia.
The Emergencies Ministry said a huge blaze at the depot in the city of Bryansk erupted early Monday. Its cause wasn’t immediately clear.
The oil depot is owned by Transneft-D... Read the Full Story |
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Markets | | | German business confidence has picked up slightly this month after plunging in March following Russia's invasion of Ukraine, a survey showed Monday.
The Ifo institute said its monthly confidence index, a closely watched indicator for Europe's biggest economy, rose to 91.8 points in Ap... Read the Full Story |
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Markets | | | Tractor Supply Company (NASDAQ: TSCO) is one of our favorite stories from the pandemic but it seems that, at long last, those tailwinds have ceased to blow. The company is still growing and is still forecasting growth but it has slowed from the high double-digits of last year to the low single-digits of this year. Read the Full Story |
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Monday's Early Bird Stock Of The Day Carvana Co., together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices. The company also operates auction sites. The company was founded in 2012 and is based in Tempe, Arizona. | | View Today's Stock Pick |
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