Good MorningThe S&P 500 pulled back on Wednesday due to an increasingly tepid outlook put forth by the retail sector. The latest report to weigh on the market comes from Target which missed estimates on the top and bottom lines, the bottom line by a very wide margin. The report highlights a growing problem in the retail sector in the form of bloating inventories that spells bad news for earnings and good news for consumers. With inventories at unusually high levels, retailers may be forced to follow in Target's footsteps and enter a new age of deep discounting to move merchandise.
The decline in stocks was curbed, however, by the FOMC minutes. The minutes indicate the Fed is ready to hike rates until inflation comes down substantially from its current high levels but gave no indication of the pace or timing of hikes. The market is pricing in a 50 basis point hike at the next meeting but there are still several inflation reports due out before then. Featured: Potential 500% Return From A Unique $1 Asset? (Investing Daily) 
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Stocks | | | ON Semiconductor (NASDAQ: ON) has taken a leadership role within its industry lately, as the stock notched gains of 26.11% in the past month and 28.21% in the past three months.
Other large-cap chip companies, such as Nvidia (NASDAQ: NVDA) and Advanced Micro Devices (NASDAQ: AMD) have shown f... Read the Full Story |
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Goldman Sachs says gold could run to $2,500 by the end of the year-especially with fears of a potential recession. And, according to Jeff Currie, Goldman Sachs global head of commodities research, as quoted by Bloomberg, "It's a perfect storm for gold right now."
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Tech | | | The U.S. government will hold talks with Taiwan on a wide-ranging trade treaty in a sign of support for the self-ruled island democracy China claims as its own territory.
The announcement Thursday comes after Beijing held military drills that included firing missiles into the sea to i... Read the Full Story |
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Politics | | | Asian stock markets followed Wall Street lower Thursday after the Federal Reserve said U.S. inflation is too high, suggesting support for more aggressive interest rate hikes.
Shanghai, Tokyo, Hong Kong and Sydney declined. Oil prices edged higher.
Wall Street's benchmar... Read the Full Story |
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Politics | | | Advocates for wild horses are accusing federal land managers of illegally approving plans for the largest U.S. holding facility for thousands of mustangs captured on public rangeland in 10 Western states.
Friends of Animals said in a lawsuit filed Tuesday up to 4,000 horses would be h... Read the Full Story |
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Stocks | | | Metal miner Rio Tinto (NYSE: RIO) is up 7.8% since reporting first-half earnings in late July. Earnings declined 29%, to $2.73 per share, while revenue dropped 10% to $14.9 billion.
Although that was actually an earnings beat, the company also slashed its dividend in response to lower iron or... Read the Full Story |
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Politics | | | As a potential power broker, Turkish President Recep Tayyip Erdogan will use his first visit to Ukraine since the war started nearly six months ago to seek ways to expand the export of grain from Europe's breadbasket to the world's needy while U.N. Secretary-General António Guterres will focus on co... Read the Full Story |
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Politics | | | It was early one morning when life under Russian occupation became too much for Volodymyr Zhdanov: Rocket fire aimed at Ukrainian forces struck near his home in the city of Kherson, terrifying one of his two children.
His 8-year-old daughter “ran in panic to the basement. It was 2 o’c... Read the Full Story |
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Markets | | |
Target’s (NYSE: TGT) Q2 results reinforce a problem facing the retail sector that was only hinted at by Walmart (NYSE: WMT) and Home Depot (NYSE: HD) earlier in the week. The company’s efforts to combat supply chain and inventory hurdles are catching up with it at the same time that de... Read the Full Story |
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Markets | | |
Agilent Technologies (NYSE: A) is a highly-valued stock for the low 0.6% dividend that it pays but the Q2 results once again prove the company’s worth. The results include a top and bottom line beat as well as improved guidance that has the shares moving higher in their wake. With competitor... Read the Full Story |
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Markets | | |
Lowe’s (NYSE: LOW) Q2 results may look weaker than Home Depot’s (NYSE: HD) at first glance but there is a meaningful difference in the guidance. Where Home Depot’s outlook was improved it is only in line with the consensus and projects a weakening in the 2nd half, Lowe’s wa... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Atara Biotherapeutics, Inc. engages in the development of transformative therapies for patients with solid tumors, hematologic cancers, and autoimmune diseases in the United States and the United Kingdom. Its lead product includes Tab-cel (tabelecleucel), a T-cell immunotherapy program that is in Phase 3 clinical trials for the treatment of epstein-barr virus (EBV) driven post-transplant lymphoproliferative disease, as well as nasopharyngeal carcinoma. Its CAR T immunotherapy pipeline products include ATA3219, currently in Phase 1 trials, as well as ATA3431, under preclinical trials for the treatment of B-cell malignancies and autoimmune diseases; and ATA188 that is in Phase 2 clinical trials to treat multiple sclerosis. The company has research collaboration agreements with Memorial Sloan Kettering Cancer Center, and Council of the Queensland Institute of Medical Research. Atara Biotherapeutics, Inc. was incorporated in 2012 and is headquartered in Thousand Oaks, California. | | View Today's Stock Pick |
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