Good MorningEquity markets tried to advance on Monday, hoping a debt-ceiling deal was reached. However, those hopes were dashed by mounting opposition from Republicans and a few Democrats. The news brings the chance of default much closer, which could have far-reaching implications for the market. The caveat is that no-debt-ceiling standoff has yet resulted in a major economic crash or market downturn, and this one is unlikely to do so as well. Interest rates will bring the market down, and there is no indication the FOMC will be cutting rates any time soon.
The next FOMC meeting is in 2 weeks. The odds of another FOMC interest rate hike are 65% due to the hot read on inflation last week. This will put the base rate at 525 basis points and near the top of the cycle. The risk for the market is that inflation will not subside appreciably for several more quarters if then and that rates will remain high indefinitely. In this scenario, investors should expect outflows from equity markets to continue. Featured: Your NEW Free Gold Guide! (Gold Allied Trust) 
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Politics | | | Malaysia will stop exporting chickens from Wednesday in a protectionist move to bolster domestic food supply, sparking distress in neighboring Singapore where chicken rice is a national dish.
Prime Minister Ismail Sabri Yaakob announced last week that, beginning June 1, Malaysia will ... Read the Full Story |
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Politics | | | Asian shares were mixed Tuesday after reports showed China’s manufacturing slowdown is moderating as anti-virus curbs on businesses in Shanghai and Beijing ease.
U.S. futures edged higher after markets were closed in New York on Monday for Memorial Day.
Oil prices wer... Read the Full Story |
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Markets | | | Price action in Broadcom (NASDAQ: AVGO) experienced significant downward pressure over the past two quarters but we think those days are behind the stock. The downward pressure is due in large part to institutional selling that we see ending now the Q2 results are in the bag. Read the Full Story |
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Markets | | |
It’s been 16 months since GameStop Corp. (NYSE: GME) blasted into the stratosphere fueled by extreme trading euphoria.
Since its abrupt return to Earth, there have been a few minor ignitions but nothing of the epic variety. Still, loyal meme stock enthusiasts have stayed at the ready awaiti... Read the Full Story |
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Politics | | | World shares were mixed Tuesday after the European Union agreed to embargo most Russian oil imports by the year’s end, sparking a fresh spike in oil prices.
Shares fell in Frankfurt, Paris and Tokyo but rose in London and Shanghai. U.S. futures edged lower ahead of the reopening of t... Read the Full Story |
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Markets | | | Workday (NASDAQ: WDAY) is yet another example of a solid yet high-flying company getting its target reeled in. the company did not produce a bad quarter but the Q1 results and outlook suggest the company’s growth and earnings are more than priced in Read the Full Story |
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Politics | | | In the most significant effort yet to punish Russia for its war in Ukraine, the European Union agreed to ban the overwhelming majority of Russian oil imports after tense negotiations that exposed the cracks in the bloc's united .
From the moment Russia invaded on Feb. 24, the West has... Read the Full Story |
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Markets | | | Chinese manufacturing activity started to rebound in May after the government eased anti-virus restrictions that shut down Shanghai and other industrial centers, an official survey showed Tuesday.
The monthly purchasing managers' index of the national statistics agency and an industry... Read the Full Story |
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Markets | | | Ulta Beauty (NASDAQ: ULTA) highlights the dichotomy of mall-based retailers; either you have it or you don’t. When it comes to what the public wants, the FQ1 results prove that Ulta definitely has what the consumers want. The company’s results were so far above the consensus as to be game-changing and that is seen in the analyst's activity as well. Read the Full Story |
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Markets | | | Building materials supplier Builders FirstSource (NASDAQ: BLDR) stock has been basing for the last month in the bear market as shares are down (-20%) year-to-date. Rising interest rate headwinds are cooling consumer mortgage applications but there’s still a supply shortage of homes that will f... Read the Full Story |
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Tuesday's Early Bird Stock Of The Day United Therapeutics Corporation, a biotechnology company, engages in the development and commercialization of products to address the unmet medical needs of patients with chronic and life-threatening diseases in the United States and internationally. The company offers Tyvaso DPI, an inhaled dry powder via pre-filled and single-use cartridges; Tyvaso, an inhaled solution via ultrasonic nebulizer; Remodulin (treprostinil) injection to treat patients with pulmonary arterial hypertension (PAH) to diminish symptoms associated with exercise; Orenitram, a tablet dosage form of treprostinil, to delay disease progression and improve exercise capacity in PAH patients; and Adcirca, an oral PDE-5 inhibitor to enhance the exercise ability in PAH patients. It also markets and sells Unituxin (dinutuximab) injection, a monoclonal antibody for treating high-risk neuroblastoma; and Remunity Pump, which contains a pump and separate controller for Remodulin. In addition, the company engages in developing RemoPro and Ralinepag for the treatment of PAH; Aurora-GT, a gene therapy product to rebuild the blood vessels in the lungs; and Nebulized Tyvaso, for the treatment of idiopathic pulmonary fibrosis, as well as xenografts, which are development-stage organ products. It has licensing and collaboration agreements with DEKA Research & Development Corp. to develop a semi-disposable system for the subcutaneous delivery of treprostinil; MannKind Corporation to develop and license treprostinil inhalation powder and the Dreamboat device; and Arena Pharmaceuticals, Inc. to develop Ralinepag. The company was incorporated in 1996 and is headquartered in Silver Spring, Maryland. | | View Today's Stock Pick |
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