Good MorningWild swings continued on Wall Street on Thursday. TheS&P 500 reversed an early loss to gain more than 1.85% at the high of the day. The move came despite a round of mixed economic data that suggest weaker than expected job creation on the heels of the largest increase in wage inflation ever recorded in the US. US wages rose 12.6% in Q1 to drive a similarly large contraction in productivity. The takeaway from the data is that economic activity is contracting due to the rise in inflation, specifically wage inflation, and the data will most likely get worse before it gets better.
Next week, the market will be on high alert for the Consumer Price Index. The index is expected to make a sharp slowdown from previous months due to the overlap with last year's data. The risk for the market is that inflation will not cool appreciably and add pressure on the Fed. This will be the last inflation data before the next FOMC meeting, the FOMC is expected to hike rates by 50 basis points with a near 100% certainty. Featured: Crypto Comeback Ahead - Buy This Now (IPM) 
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Markets | | |
As long as short interest remains high, the overall view of CHWY stock is cloudy
Shareholders in Chewy (NYSE: CHWY) are getting some relief from the relentless sell-off in the stock. In late-day trading, CHWY stock is up 23.8% on the back of a strong earnings report. The online retailer of ... Read the Full Story |
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Politics | | | Asian shares rose Friday amid mixed signs for investors such as rising energy prices and COVID-19 restrictions easing in China.
Trading was closed in China for the Dragon Boat Festival, a national holiday. Benchmarks in the rest of the region edged higher, cheered by a rally overnight... Read the Full Story |
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Markets | | | Global shares rose Friday amid mixed signs for investors such as rising energy prices and COVID-19 restrictions easing in China.
European shares edged up in early trading, with France's CAC 40 gaining 0.3% to 6,517.73. Germany's DAX added 0.3% to 14,528.45, while trading was closed in... Read the Full Story |
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From Our PartnersSearching for the next Microcap stocks with disruptive potential? These companies will release their quarterly earnings very soon... And we have found 5 microcap stocks that could see a spike in share price. | | Click here to get the names of all 5 stocks |
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Politics | | | President Joe Biden’s special envoy for North Korea said Friday the United States is “preparing for all contingencies” in close coordination with its South Korean and Japanese allies as it monitors North Korean arrangements for a possible nuclear test explosion that outside officials say could be im... Read the Full Story |
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Politics | | | After months of robust hiring, U.S. employers might have pulled back slightly in May, to levels that would still be consistent with a healthy job market, despite high inflation and rising borrowing costs Read the Full Story |
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From Our PartnersEx-Wall Street CEO Dylan Jovine is one of the best Small-Cap investors on earth.
He's delivered 435% profits on ChemoCentrix, 220% returns on Editas, 159% profits with Magnolia, Gas and 194% with Scotts Miracle Gro. | | Get his #1 Small-Cap for May here > > > |
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Politics | | | Annual inflation in Turkey hit 73.5% in May, the highest rate since 1998, according to official data released Friday as a cost-of-living crisis in the country deepens.
The Turkish Statistical Institute said the rate represented an increase of almost 70% from the month before. Consume... Read the Full Story |
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Markets | | | Shares of Alibaba Group are down YTD due to regulatory pressures and threats of Western sanctions. The company is using this opportunity to buy back shares and some investors believe the company to be undervalued at its current levels. Read the Full Story |
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Tech | | |
After a vicious selloff that saw shares of identity software company Okta (NASDAQ: OKTA) fall 70% from last November through last month, they’re finally looking like they’re ready to turn around. Investors have to go all the way back to January to find a run of two green weeks in a row... Read the Full Story |
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Tech | | | Xiaomi (OTCMKTS: XIACF) is facing headwinds from supply chain shortages and the coronavirus pandemic. Both of these factors have reduced the demand for smartphones in China and it could be set to continue for the rest of this year. Read the Full Story |
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Stocks | | | RH (NYSE: RH) was one of the first companies to warn the market about inflationary and supply chain hiccups and, as such, we expect to see give some of the earliest insight into what to expect over the summer. As dubious as the company’s bellwether status may be, the message we are getting from the report is not good. Read the Full Story |
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Friday's Early Bird Stock Of The Day Evelo Biosciences, Inc., a clinical-stage biotechnology company, focuses on discovering and developing oral medicines that act on immune cells in the small intestine with systemic effects. It is developing EDP1815, a whole-microbe product candidate, which has completed a Phase 2 trial for the treatment of psoriais; and is in Phase 2 clinical trial for the treatment of atopic dermatitis. The company is also developing EDP1867, a non-live pharmaceutical preparation for single strain of Veillonella parvula, which is in Phase 1b clinical trial; EDP2939, an investigational oral biologic for the potential treatment of inflammatory diseases; and EDP1908, a product candidate for oncology. Evelo Biosciences, Inc. was incorporated in 2014 and is headquartered in Cambridge, Massachusetts. | | View Today's Stock Pick |
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