Good MorningEquities rebounded strongly on Thursday despite a much weaker than expected GDP figure. The first read on Q1 2022 GDP came in at -1.4% versus the expected gain of 1.0%. The news was largely shrugged off by the market but it is not a data point to be complacent about. With the economy already contracting versus last year there is a real chance the FOMC could and will throw the U.S. economy into a recession when it begins raising rates.
The question that needs to be answered is if it will be a hard or soft landing and the evidence is mounting for a hard landing. The real risk for the market is today's read on the PCE price index. If PCE prices continue to rise at the pace they have been or hotter the Fed will have no choice but to act quickly and aggressively to fight inflation and we don't think the market is pricing that into stocks yet. Featured: A greater danger than Kazakhstan (BehindtheMarkets) 
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Markets | | | World stocks advanced Friday after Chinese leaders pledged to do more to support the slowing economy as the country weathers its worst outbreaks of COVID-19 since the pandemic began.
Germany's DAX gained 1% to 14,120.47 while the CAC 40 in Paris added 0.9% to 6,567.01. Britain's FTSE ... Read the Full Story |
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Politics | | | The US-funded broadcaster Radio Free Europe says one of its journalists was killed by a Russian missile strike on Ukraine’s capital, Kyiv, Thursday night.
Vira Hyrych died when the building she lived in was hit, Radio Free Europe said Friday. Her body was found Friday in the building’... Read the Full Story |
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Tech | | | Tesla has recalled 14,684 Model 3s due to a software glitch that could cause collisions, China's market regulator said Friday, in its second recall in the country this month.
The State Administration for Market Regulation said the recall affects both imported vehicles and those made i... Read the Full Story |
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Politics | | | Russia says it “destroyed production buildings” at a defense factory in Kyiv.
Russian Defense Ministry spokesman Igor Konashenkov said Friday that Russia used “high-precision, long-range weaponry” to hit the Artem factory in the Ukrainian capital.
Konashenkov appeared t... Read the Full Story |
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Politics | | | LONDON — Britain is sending a team of experts to Ukraine to help local authorities investigate reports of war crimes, including sexual violence, committed by Russian troops.
UK Foreign Secretary Liz Truss says the team, including experts in conflict-related sexual violence, will arriv... Read the Full Story |
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From Our Partners“I used to expect a crash… here’s my new prediction…”
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Tech | | | You could almost hear the collective sigh of relief after Apple (NASDAQ: AAPL) released its latest earnings report at the end of yesterday’s session. Investors have already found solace this week with solid results from Microsoft (NASDAQ: MSFT) and Facebook (NASDAQ: FB) helping to at least slo... Read the Full Story |
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Markets | | | Canadian communications and media giant Rogers Communication (NYSE: RCI) stock made new all-time highs at $64.55 before pulling back down despite the relative weakness in benchmark indices. The broadband provider is seeking to complete and integrate its buyout of Shaw Communications, which it acquir... Read the Full Story |
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Markets | | | Global satellite communications provider Iridium (NASDAQ: IRDM) stock recently took a nosedive from the selling in benchmark indices. The provider of satellite-based broadband caters to industries ranging from aviation, transport, logistics, emergency, maritime, energy, and government. Commercial se... Read the Full Story |
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Markets | | | Shares of O’Reilly Automotive (NASDAQ: ORLY) tanked after the company released its Q1 earnings but some are welcoming the news. Analysts Michael Lasser of UBS urged the company’s client to use the pullback as a buying opportunity due to the strength of industry trends. Read the Full Story |
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Markets | | | Ford (NYSE: F) had a good quarter despite the impact of supply chain constraints. The company reported a YOY decline in revenue that was less than expected and comes with what we consider very good news. The company reports significant supply chain improvement in March that is in line with the general expectation things will get better in the second half. Read the Full Story |
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Friday's Early Bird Stock Of The Day Inozyme Pharma, Inc., a clinical-stage rare disease biopharmaceutical company, focuses on developing novel therapeutics for the treatment of vasculature, soft tissue, and skeleton diseases. The company's lead product candidate is INZ-701, a soluble, recombinant, genetically engineered, and fusion protein for the treatment of ENPP1 and ABCC6 deficiencies, as well as patients with end-stage kidney disease receiving hemodialysis. It has a license agreement with Yale University for specified therapeutic and prophylactic products. The company was incorporated in 2015 and is headquartered in Boston, Massachusetts. | | View Today's Stock Pick |
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