Good MorningEquities steadied on Tuesday but don't read too much into the news. The S&P 500 gained about 1% at the high of the day but is still trading below an important resistance target. The move is just another in a series of lackluster movements that suggest a wait-and-see attitude in the market. The wait-and-see attitude is due to an expected economic release and the FOMC, either of which could send the market reeling. The economic release is the CPI data on Friday which is the last inflation report before the FOMC meeting next week. The data is expected to be hot and will most likely intensify the expectation for FOMC action.
In other news, Target warned the market about record-high inventory levels and the need for aggressive actions of its own. The news should come as a warning for the entire S&P 500 because they've all been working hard to alleviate supply chain disruptions this year and that could result in oversupply at all levels. Featured: One Stock Is All You Need (Legacy Managed CPA) 
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Markets | | |
From consumer spending to corporate earnings, inflation is impacting seemingly every aspect of the global economy.
So it’s not surprising that elevated prices are affecting stock valuations too.
Historically, when inflation flares up, equity price-to-earnings (P/E) ratios go down. Wh... Read the Full Story |
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Politics | | | The British government appears to have no political will to resolve its festering trade dispute with the European Union and risks endangering the hard-won peace in Northern Ireland, Irish Prime Minister Micheal Martin said Wednesday.
Prime Minister Boris Johnson’s go... Read the Full Story |
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Tech | | |
Key intro points for Asana:
-Revenue came in at $126 million, increasing by 57% year over year.
-Company had 126,000 paying customers at the end of the quarter
-Number of customers spending over $5000 grew by 48% year over year, to 16,689.
-The number of customers spending over $50,000 increas... Read the Full Story |
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Markets | | | With U.S. stocks showing signs of recovery, activity has picked up in recent weeks as traders seek to capitalize on a potential market bottom. Volume has been unusually high in the following three names. Read the Full Story |
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Politics | | | With British Prime Minister Boris Johnson dealt a heavy blow after surviving a no-confidence vote from his own Conservative Party, questions already are being asked about who might succeed him if he was forced from office.
Conservative lawmakers voted 211-148 to keep Johnson as leade... Read the Full Story |
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Tech | | | European markets opened mostly lower Wednesday after a day of gains in Asia as investors awaited greater clarity on where interest rates, inflation and economies are heading.
Germany's DAX slipped 0.3% to 14,517.96 while the CAC 40 in Paris shed 0.2% to 6,489.76. Britain's FTSE 100 w... Read the Full Story |
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Markets | | | Shopping for a new or used car over the last couple of years has become a more challenging endeavor. Because of the COVID-19 pandemic and its after-effects, we’ve had to deal with factory closures, supply chain issues, a worldwide shortage of semiconductor chips, vehicle shortages, price hikes on de... Read the Full Story |
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Politics | | | India’s central bank on Wednesday raised its key interest rate to 4.9% from 4.4%, the second such hike in the last three weeks to contain inflation.
Reserve Bank of India Governor Shaktikanta Das said the decision was aimed at curbing price increases and mitigating the impact of geop... Read the Full Story |
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Markets | | | Snapchat is struggling to monetize its userbase and bring a sufficient number of advertisers to its platform. The market also reacted strongly to its revised guidance and discounted its share price by 43%. Read the Full Story |
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Stocks | | | Thor Industries (NYSE: THO) has been a leader in the RV industry since well before the pandemic began and it has only cemented its position in the time since. The Q3 results prove that pandemic tailwinds continue to blow for this company and have it set up for at least another year of record-setting results. Read the Full Story |
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Wednesday's Early Bird Stock Of The Day Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands. The Wholesale Accessories/Apparel segment offers handbags, apparel, small leather goods, belts, soft accessories, fashion scarves, wraps, gifting, and other accessories under the Steve Madden, Anne Klein, Betsey Johnson, and Dolce Vita brands. The Direct-to-Consumer segment operates Steve Madden and Dolce Vita full-price retail stores, Steve Madden outlet stores and concessions, and digital e-commerce websites. The Licensing segment engages in the licensing of the Steve Madden and Betsey Johnson trademarks for the sale of select apparel, accessory, home categories, and other non-core products. In addition, the company distributes its products in the wholesale channel through department stores, mass merchants, off-price retailers, shoe chains, online retailers, national chains, specialty retailers, independent stores, and clubs. Further, it markets its products and services through digital brand marketing, social media and influencer marketing, experiential events, in-store and online promotions, and public relations. The company was incorporated in 1990 and is headquartered in Long Island City, New York. | | View Today's Stock Pick |
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