Good MorningEquities slipped on Wednesday following a mad dash for the exits on Tuesday. The S&P 500 fell about 0.25% at the low of the day on fears of slowing economic activity and an earnings recession that could begin as soon as the current quarter. While several reports have come in better than expected the strength is isolated and the signs of economic headwinds are growing. If this trend continues it could lead to a significant revision to the 2nd half outlook that drives the market even lower and that is not the only risk. The PCE price index is expected to come in hot and increase the odds not only of aggressive FOMC action but a major recession as well.
In regards to stocks, the defensive Consumer Staples stock General Mills was among the market's leaders on Wednesday. The stock represents not only a value to investors but a high yield that is backed upped by results. General Mills' 2nd quarter earnings were better than expected and came with an increase in guidance that we think will be echoed across the sector. Featured: The 32-Second Options Trading "Training Video" Retirees Can't Get Enough Of (Legacy Research) 
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Markets | | | Software provider to property and casualty insurers Guidewire Software (NYSE:GWRE) stock has plunged (-31%) in this year but is staging a comeback with the launch of its first Guidewire Cloud offering known as Elysian Read the Full Story |
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Markets | | | Asian benchmarks were mostly lower on Friday, echoing a decline on Wall Street, after a quarterly report by Japan’s central bank rekindled worries about the world’s third largest economy.
Shares fell in Tokyo, Seoul, Sydney and Shanghai. Markets were closed in Hong Kong for a holiday... Read the Full Story |
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Markets | | | European shares edged higher after Asian benchmarks finished lower Friday, as a quarterly report by Japan’s central bank rekindled worries about the world’s third largest economy.
Shares were slightly higher in Europe in early trading, after finishing lower in Asia, declining in Toky... Read the Full Story |
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Stocks | | | Acuity Brands (NASDAQ: AYI) has been in a downtrend for the last two quarters for no other reason than fear of slowing growth, tightening margins, and earnings weakness but those fears were overblown. The move downward was driven in large part by institutions that were selling heavily in the first quarter of the year Read the Full Story |
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Tech | | | Swedish luxury vehicle maker Volvo Cars plans to build a new European plant in eastern Slovakia, the country's economy minister said Friday.
Volvo's third European plant will be located in Kosice, Slovakia's second-largest city, Economy Minister Richard Sulik said. Volvo will receive ... Read the Full Story |
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Markets | | | Inflation in the 19 countries that use the euro currency hit a record 8.6% in June, pushed higher by a strong increase in energy costs fueled partly by Russia’s war in Ukraine. Food prices also picked up pace.
Annual inflation in the eurozone surged past the 8.1% recorded in May, acc... Read the Full Story |
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Tech | | | New York officials denied required air permit renewals Thursday to a bitcoin-mining power plant on the grounds that it was a threat to the state's climate goals.
The permitting decision was another example of New York putting the brakes on a cryptocurrency bonanza that has alarmed env... Read the Full Story |
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Stocks | | | RH (NYSE: RH) was one of the biggest winners from the pandemic boom and now it is one of the biggest losers of the pandemic bust. More importantly, because of when it reports in the reporting cycle, it has provided insight into the upcoming quarter and what to expect from guidance among S&P 500 companies. Read the Full Story |
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Markets | | |
Rio Tinto Group (NYSE: RIO) is in the business of mining and processing commodities across the world, but perhaps the most important material it delivers is iron ore. RIO has the largest portfolio of iron ore assets with 16 mines. The demand for this raw material is set to grow worldwide at a CAGR... Read the Full Story |
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Stocks | | | Paychex (NASDAQ: PAYX) is an American provider of human resources, payroll, and outsourcing services for small and medium-sized businesses. The company is based out of Rochester, New York, and has payroll clients across North America and Europe.
Highlights:
-Services revenue increased by 11% for t... Read the Full Story |
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Friday's Early Bird Stock Of The Day Day One Biopharmaceuticals, Inc., a clinical-stage biopharmaceutical company, develops and commercializes targeted therapies for patients with genomically defined cancers. Its lead product candidate is tovorafenib, an oral brain-penetrant type II pan-rapidly accelerated fibrosarcoma kinase inhibitor that is in Phase II clinical trial for pediatric patients with relapsed/ refractory low-grade glioma. The company is also developing Pimasertib, an oral small molecule inhibitor of mitogen-activated protein kinase kinases 1 and 2. Day One Biopharmaceuticals, Inc. was incorporated in 2018 and is headquartered in Brisbane, California. | | View Today's Stock Pick |
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