Good MorningThe equities market slipped again on Wednesday, although the move was muted in relation to the prior session. The S&P 500 shed about 0.25% at the low of the session but closed with a small gain following a mixed PPI report. The PPI data fell slightly on a month-to-month basis but remains very hot on a core and YOY basis and points to additional price increases for consumers down the road. The news was not-as-bad as feared but bad enough and should help seal the deal on a 75 basis point rate hike at the next FOMC meeting in just 7 days.
With the CPI and PPI still running hot and the FOMC on track to raise rates another 150 bps by the end of the year the odds of a major recession have grown very high. The first glimmers of that recession can be seen in the housing market, which is seeing a high double-digit decline in the pace of mortgage apps and new and existing home sales. Featured: How Much Longer Will It Be Under $1? (Investing Daily) 
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If you’re an investor in 3M (NYSE:MMM) you’re aware of the perfect storm that’s swirling around the company and its stock. The company got a lift from being a supplier of essential materials for first responders during the pandemic.
That halo is long since gone. The compan... Read the Full Story |
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Around six or seven years ago, a new gas station operated by Murphy USA (NYSE: MUSA) opened across the street from a Super Walmart (NYSE: WMT) not far from where I live in Santa Fe, New Mexico.
Since then, I’ve noticed Murphy gas stations springing up throughout the U.S. While the com... Read the Full Story |
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Markets | | | We’ve all seen those commercials where someone has to get up frequently during the night to urinate; Axonics (NASDAQ: AXNX) is a company whose products address that problem.
The stock rallied to a high on Monday then pulled back along with the broader market.
The Irvine, Californ... Read the Full Story |
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The Q3 reporting season is fast approaching which means it's time to start picking potential winners and losers. Today I’m looking at the five hottest upgrades coming out of the 2nd quarter earnings reporting cycle and what to expect when they report.
Palo Alto Networks For A Two-Pron... Read the Full Story |
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Politics | | | President Joe Biden said Thursday a tentative railway labor agreement has been reached, averting a potentially devastating strike before the pivotal midterm elections.
He said the tentative deal “will keep our critical rail system working and avoid disruption of our economy.”
... Read the Full Story |
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From Our PartnersMany investors can do well in bull markets but then lose a large percentage of their portfolio during a bear market... All because they don't know where to invest. Our experts say these 4 stocks are positioned well - even in a down market. | | >>> Click Here. |
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Politics | | | President Joe Biden said Thursday a tentative railway labor agreement has been reached, averting a potentially devastating strike before the pivotal midterm elections.
He said the tentative deal “will keep our critical rail system working and avoid disruption of our economy.”
... Read the Full Story |
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Video game maker Take-Two Interactive Software (NASDAQ: TTWO) stock has been steadily falling due to fall in videogame sales. The publisher owns one of the most lucrative video gaming franchises in Grand Theft Auto (GTA). It’s Grand Theft Auto V game was originally released in 2013 and conti... Read the Full Story |
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Tech | | | Samsung Electronics is shifting away from fossil fuels and aiming to entirely power its global operations with clean electricity by 2050, a challenging goal that experts say could be hampered by South Korea’s modest climate change commitments.
South Korea-based Samsung is a top produ... Read the Full Story |
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Markets | | | The CEO of energy giant Shell, Ben van Beurden, is stepping down at the end of the year after nine years in charge and will be replaced by Wael Sawan, the company announced Thursday.
Sawan, who has worked for Shell for 25 years, is currently director of integrated gas, renewables and ... Read the Full Story |
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Politics | | | For a third time the Louisiana Bond Commission is scheduled to vote, Thursday morning, on a $39 million future line of credit for a New Orleans power plant, critical to power drainage pumps that remove rainwater in a city that faces chronic flood problems Read the Full Story |
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Thursday's Early Bird Stock Of The Day Sibanye Stillwater Limited, together with its subsidiaries, operates as a precious metals mining company in South Africa, the United States, Europe, and Australia. The company produces gold; platinum group metals (PGMs), including palladium, platinum, rhodium, iridium, and ruthenium; chrome; nickel; and silver, cobalt, and copper. It owns the East Boulder and Stillwater mines located in Montana, the United States; and Columbus metallurgical complex, which smelts the material mined to produce PGM-rich filter cake, as well as conducts PGM recycling activities. The company also involved in the Kroondal, Rustenburg, Marikana, and Platinum Mile operations situated in South Africa; Mimosa located on the southern portion in Zimbabwe; the Driefontein, Kloof, Rand Refinery, and Cooke surface operations located on the West Rand of the Witwatersrand Basin; and the Beatrix situated in the southern Free State. In addition, it owns an interest in surface tailings retreatment facilities; the Marathon PGM project in Ontario, Canada; the Altar and Rio Grande copper gold projects in the Andes in north-west Argentina; the Hoedspruit; and the Burnstone and southern Free State gold projects in South Africa. Sibanye Stillwater Limited was founded in 2013 and is headquartered in Weltevreden Park, South Africa. | | View Today's Stock Pick |
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