Good MorningEquities wobbled on Wednesday and showed some resilience in the face of aggressive FOMC policy action. The FOMC hiked rates by 75 basis points despite a pledge to keep the pace of hikes at 50 basis points per meeting. The move is only the latest in a string of evidence that suggests inflation is out of control. Based on the latest data and talk from the Fed we think it safe to assume there will be another 75 basis point hike in July.
In other news, the pace of retail sales fell by 0.30% in May, worse than expected. The decline is due in large part to rapidly rising prices and the high cost of fuel, neither of which are expected to decline over the summer. The takeaway is that an economic recession is already in the works and investors should expect the worst from the Q2 reporting season. Featured: The #1 Stock Market Book to Read – Free (Millionaire Pub) 
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Markets | | | Home Depot (NYSE: HD) is down significantly from its 52-week high and may have peaked for now. The company benefited from the pandemic as most of the population took advantage of being home-bound to work on home-related projects such as painting, remodeling, and replacing old appliances. Read the Full Story |
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Politics | | | Global shares were mostly lower Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation.
European benchmarks and U.S. futures slipped after Tokyo and some other markets tracked Wall Stree... Read the Full Story |
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Stocks | | | The retail sector has had a hard time of it the last few months but now there are some opportunities emerging. Companies like Skechers (NYSE: SKX) and G-III Apparel (NASDAQ: GIII) corrected more than 35% on mounting fears of narrowing margins and slowing sales but those fears were misplaced. Read the Full Story |
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Politics | | | North Korea reported a new “epidemic" of an intestinal disease on Thursday, an unusual announcement from the secretive country that is already contending with a COVID-19 outbreak and severe economic turmoil.
It’s unclear how many people are infected in what the official Korean Central... Read the Full Story |
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Markets | | | Blink Charging (NASDAQ: BLNK) just announced a deal to acquire SemaConnect for $200 million. This deal is a game-changing move for the company as it not only adds roughly 30% more charging stations to the network, it adds another 150,000 EV driver members to the network and has the company well set up to aid the Biden Administration. Read the Full Story |
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From Our PartnersHard Rock Lithium is becoming the go-to source for advanced battery technologies used in electric vehicles and its predicted that global demand for lithium will grow 4,000% by 2040. With near term production on the horizon, now is the time to invest in this company - don't miss out! | | Add this company to your watchlist |
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Politics | | | The head of the Russian Central Bank is warning that the country’s economy faces pressure from abroad that could persist indefinitely, dampening hopes that conditions could return to the way they were before Russia sent troops into Ukraine Read the Full Story |
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Politics | | | The Bank of England is under pressure to raise interest rates more aggressively amid concern that the quarter-percentage-point hike expected Thursday will do little to combat price increases that have pushed inflation to a 40-year high Read the Full Story |
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Tech | | | Mo'Nique and Netflix reportedly have settled her lawsuit that accused the streaming service of racial and sexual discrimination for allegedly making her a lowball offer for a proposed comedy special.
The matter has been “amicably resolved,” Michael Parks, an attorney representing Mo'N... Read the Full Story |
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Tech | | |
Website development platform Wix.com (NASDAQ: WIX) stock has seen a dramatic (-64%) sell-off in shares year-to-date losing more than twice the NASDAQ drop. The world’s largest do-it-yourself (DIY) creation and development platform saw much volatility stemming from the falling GDP. However, t... Read the Full Story |
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Markets | | | RF Industries (NASDAQ: RFIL) has been a sleeper play on 5G for some time but that play is waking up. The company just announced a new order from a new client they describe as a “North American Wireless Carrier” whose working on building out its 4G/5G infrastructure. Read the Full Story |
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Thursday's Early Bird Stock Of The Day Companhia Brasileira De Distribuicao engages in the operation of supermarkets, specialized stores, and department stores in Brazil. It sells food products, including non-perishables, beverages, fruits, vegetables, meat, bread, cold cuts, and dairy products; and non-food products, such as cleaning supplies, disposable products, personal care products, and pet supplies under its private label and third-party brands. The company is also involved in the provision of ready-to-eat meals; rental of commercial spaces; and e-commerce sales. It operates its supermarkets under Pão de Açúcar, Mercado Extra, and Compre Bem banners; proximity and specialized stores through Mini Extra, Minuto Pão de Açúcar, Pão de Açúcar Adega, and Aliados Minimercado banners; and gas stations through the Pão de Açúcar, Mercado Extra, and Compre Bem banners, as well as sells its products through its websites. The company was founded in 1948 and is headquartered in São Paulo, Brazil. | | View Today's Stock Pick |
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