Good MorningFearful equity markets pulled back more than 1.0% on Tuesday following dire news from Walmart. Walmart missed its earnings estimates and cut its guidance, citing the impact of inflation on consumer spending. While sales of food and other staple items continue to be strong, sales of discretionary items are flagging under the weight of inflation. The news was taken as a sign of weakness in the broader economy and had the market shedding discretionary and other inflation-sensitive names with the FOMC and key inflation just due out this week.
The FOMC is expected to hike rates by at least 75 basis points today and may go for a full 100 basis points in an effort to outrun inflation. Regardless, the economy is already in a recession, and it looks like inflation and Fed action are going to make it deeper. The PCE index is due on Friday and is expected to show an acceleration from the previous month. Featured: Keep These Stocks On Your Radar... (PTR) 
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Politics | | | Major global stock markets and Wall Street futures advanced Wednesday as traders prepared for a possible sharp interest rate hike by the Federal Reserve to cool surging inflation.
London and Frankfurt opened higher. Tokyo and Sydney gained while Shanghai declined. Oil prices rose.
... Read the Full Story |
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Since then, what’s happened? Apple is down -12%, Tesla is down -18%, Amazon is down -26% & Bitcoin is down -34%
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Stocks | | |
Canopy Growth (NASDAQ: CGC) experienced a severe sell-off, as it currently trades at the very bottom of its 52-week range. It's almost near the bottom on shorter time spans, including the 50-day range. The stock is currently down -74.62%, severely underperforming the S&P 500 with a loss of -18... Read the Full Story |
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See the retailer’s warning clearly, but don’t be a prisoner of the moment
Shares of Walmart (NYSE:WMT) are down nearly 10% the day after the retailer issued a profit warning in advance of its second-quarter earnings in August. The company lowered its guidance not only for the cu... Read the Full Story |
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Politics | | | Shipping companies are not rushing to export millions of tons of trapped grain out of Ukraine, despite a breakthrough deal to provide safe corridors through the Black Sea. That is because explosive mines are drifting in the waters, ship owners are assessing the risks and many still have questions ov... Read the Full Story |
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Stocks | | | The Coca-Cola Company (NYSE: KO) has been an attractive investment over the past few years because of its resilience in the face of tough times. The company has been able to maintain and even grow the business while also paying a healthy 2.8% dividend yield and not only that, increasing for the 59th consecutive year despite the pandemic and all the havoc it caused. Read the Full Story |
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Markets | | | Cameroon has emerged as one of several go-to countries for the widely criticized “flags of convenience” system, under which companies can -- for a fee -- register their ships in a foreign country even though there is no link between the vessel and the nation whose flag it flies Read the Full Story |
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Tech | | | Of the roughly 30 U.S. mega cap stocks, some are looking more attractive than others. For however long the recovery takes, these three technology names are built to weather the storm and climb to new heights. Read the Full Story |
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Politics | | | China’s government on Wednesday rejected as a “political lie” a report by The Wall Street Journal that Beijing tried to recruit informants in the Federal Reserve system to obtain U.S. economic data.
The report, citing an investigation by a Senate panel, adds to accusations of Chinese ... Read the Full Story |
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Politics | | | Japan’s minister for gender equality called the country’s dangerously low births and plunging population a national crisis and blamed “indifference and ignorance” in the male-dominated Japanese parliament Read the Full Story |
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Markets | | |
-Earnings per share came in at 2.23 versus an expectation of $2.29 per share by analysts.
-Operating income came in 8% higher at $20.5 billion, and net income was up 2% at $16.7 billion.
-Revenue was up 12%, coming in at $51.8 billion, but slowing to multi-year lows.
“In a dynamic environ... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day Cal-Maine Foods, Inc., together with its subsidiaries, produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, free-range, pasture-raised, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, Sunups, Sunny Meadow, and 4Grain brand names. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States. Cal-Maine Foods, Inc. was founded in 1957 and is headquartered in Ridgeland, Mississippi. | | View Today's Stock Pick |
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