Good MorningThe rebound on Wall Street extended on Wednesday following a policy announcement from the FOMC. The FOMC hiked its key rate by 75 basis points as expected and downgraded its assessment of the economy which is less than the whisper numbers. The committee also said additional hikes would be appropriate at the next few meetings which put interest rates on track to hit 3.0% or higher by the end of the year and the odds are tilted in favor of higher. The takeaway for the market is the pace of hikes may slow over the next two meetings.
While many of the pundits think we are seeing the peak of inflation and FOMC interest action that outlook is far from assured. The PCE price index, due out on Friday, is expected to accelerate by 20 basis month over month at the core level and it could come in higher. Worse, the outlook given by the bulk of S&P 500 companies including defensive Consumer Staples companies is more price hikes and higher inflation are on the way. The key takeaway from all this is that corporate margins will continue to be under pressure and the cost of doing business and making large purchases is on the rise.
Featured: This Industry Is Almost Immune To Inflation (Darwin) 
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Moderna (NASDAQ: MRNA) has been in the news recently, with the therapeutic goods administration approving the company's vaccines for children. This news, along with the stock’s historically low P/E ratio of 4.64 at the time of writing, has caught the attention of investors. MarketBeat&n... Read the Full Story |
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From Our PartnersA former advisor to the CIA and Pentagon now believes President Biden plans to retire the US dollar we know.
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Stocks | | |
Airlines as a group are hardly flying high, but stocks including American Airlines (NASDAQ: AAL) and Delta Air Lines (NYSE: DAL) are at least participating in this week’s market rally.
If you’re like me, and have been flying regularly in the past year, you may have experienced c... Read the Full Story |
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Politics | | | Shares were mostly higher in Asia on Thursday after the Federal Reserve ratcheted up its campaign against surging inflation by raising its key interest rate three-quarters of a point.
Hong Kong's benchmark Hang Seng index slipped 0.1% to 20,642.80 after the territory's Monetary Autho... Read the Full Story |
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Politics | | | Shares slipped in Europe on Thursday after gains in most Asian markets following an interest rate hike by the Federal Reserve.
U.S. futures fell, while oil prices jumped more than $1 a barrel.
The Fed’s latest hike, by three-quarters of a percentage point, lifts the b... Read the Full Story |
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Tech | | | Japanese automaker Nissan says its profit in the last quarter plunged to less than half of what it was a year earlier, as the COVID-19 lockdown in China and a global semiconductor shortage slammed production Read the Full Story |
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Markets | | | Samsung Electronics Co. has reported its operating profit rose 12% in the April-June quarter thanks to strong demand for server chips.
The world’s top producer of smartphones and memory chips said in a statement Thursday that its operating profit for the last quarter rose to 14.1 tri... Read the Full Story |
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Politics | | | Japan's push to obtain UNESCO World Heritage recognition for a former gold mine key to the nation's industrialization will be delayed because its application was insufficient, officials said Thursday.
The efforts to obtain a UNESCO listing for the Sado Island mine were protested by So... Read the Full Story |
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Markets | | | Blue-chip Owens-Corning is in a turnaround phase and on track to grow its dividend by double-digits on an annual basis over the next few years. That, and the low 7X earnings multiple have the stock moving higher following the Q2 earnings release but there are still hurdles ahead for this market. Read the Full Story |
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Markets | | |
-Shopify posted a loss of $1.2 billion compared to $900 million during the same quarter of 2022.
-This included a one-time loss of $1 billion on unrealized equity losses.
-Adjusted net loss for the quarter was $38.5 million compared with the adjusted net income of $285 million during the same qu... Read the Full Story |
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Markets | | | Kraft-Heinz (NASDAQ: KHC) has been quietly working on a transformation over the past three years and it is starting to gain momentum. After years of divestiture and portfolio re-shaping, the balance sheet is in the best condition its been in since the merger, and the company is on track for growth. Read the Full Story |
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Thursday's Early Bird Stock Of The Day JAKKS Pacific, Inc. designs, produces, markets, sells, and distributes toys and related products, electronic products, and other consumer products worldwide. It operates through two segments, Toys/Consumer Products and Costumes. The company offers action figures and accessories, such as licensed characters; toy vehicles and accessories; dolls and accessories, including small, large, fashion, and baby dolls based on licenses, as well as infant and pre-school products; private label products; and foot-to-floor ride-on products. The company also provides role play, dress-up, pretend play, and novelty products for boys and girls based on brands and entertainment properties, as well as on its own proprietary brands; and indoor and outdoor kids' furniture, activity trays and tables, room décor, and seasonal and outdoor products. In addition, it offers Halloween and everyday costumes for various ages based on licensed and proprietary non-licensed brands, and related Halloween accessories; outdoor activity toys; junior sports toys, including hyper-charged balls, sport sets, and toy hoops; and board games. The company sells its products through in-house sales staff and independent sales representatives to toy and mass-market retail chain stores, department stores, office supply stores, drug and grocery store chains, club stores, value-oriented dollar stores, toy specialty stores, and wholesalers. JAKKS Pacific, Inc. was incorporated in 1995 and is headquartered in Santa Monica, California. | | View Today's Stock Pick |
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