Good MorningEquity markets went on a wild ride on Wednesday moving both upwards and downwards multiple times during the session driven by expectations for and then actions from the FOMC. The FOMC raised interest rates by the expected 75 basis points but gave some commentary that is more hawkish than expected. The Fed's chief Jerome Powell says the committee will hike rates by at least another 160 basis points before they are through and the takeaway is that rates could move even higher if inflation is not tamed. The S&P 500 closed down more than 1.50% on the news and appears to be headed for the June lows.
The fear for the market now is earnings focused. With inflation still out of control and FOMC on track to cause a major recession the expectation for earnings growth is in decline. At the pace estimates are falling, the Q4 reporting period could very well see earnings decline rather than grow. In that scenario, a move to the June lows may be the least the market should expect from the S&P 500. Featured: Free Report: Five Stocks That Could Potentially Double (Financial Newsletter) 
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NVAX stock is down 16% this week bringing its 12-month loss to over 88%.
The company is struggling to meet revenue expectations from its Covid-19 vaccine candidate.
Demand for boosters is not likely to change the math in the short-term.
Novavax (NASDAQ: NVAX) was making ne... Read the Full Story |
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Procter & Gamble Company has increased its annual dividend in each of the last 66 years
Johnson & Johnson has raised its dividend every year since 1962.
The Coca-Cola Company marked the 60th consecutive year of dividend increases in February
Cal Ripken Jr.’s 2,632 consecu... Read the Full Story |
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Politics | | | Global stock markets sank Thursday after the U.S. Federal Reserve delivered another big interest rate hike to cool galloping inflation and raised its outlook for more increases.
London and Frankfurt declined after Switzerland's central bank also raised its benchmark lending rate by it... Read the Full Story |
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General Mills is a value relative to its peers in the consumer staples group
The company reported $4.72 billion in net revenue for a gain of 4.0% over last year
General Mills not only delivered solid results for Q3 but also gave very favorable guidanc
General Mills (NYSE: GIS) is no awe-ins... Read the Full Story |
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Southwest’s revenues are getting better thanks to pent-up travel demand
American Airlines regional subsidiaries announced a 50% pay hike for pilots
Delta Air Lines, Inc. returned to profitability in the June quarter
Have you ever been stuck on the runway while a mechanical issue is r... Read the Full Story |
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Target is managing through an earnings recession.
The retailer should be able to count on strong revenue, but it may not translate to earnings.
Dividend investors may still find the company’s dividend appealing.
Long before the words “earnings recession” ... Read the Full Story |
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Politics | | | Turkey’s currency fell to a record low against the dollar before a central bank meeting on interest rates Thursday, expanding the pain for people who have seen their purchasing power erode during a series of economic shocks in the country.
The lira traded at 18.38 against the dollar, ... Read the Full Story |
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Politics | | | The European Union appears determined to respond to new Russian attempts to annex parts of Ukraine with more sanctions, but finding a consensus among member countries is becoming increasingly difficult as measures meant to punish Moscow bite into their own economies.
The 27-nation blo... Read the Full Story |
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Politics | | | Japan’s central bank took the unusual step Thursday of intervening in the market to stem the yen’s decline against the U.S. dollar.
Earlier in the day, the dollar rose to nearly 146 yen — a 24-year low — after the Bank of Japan left its key lending rate unchanged following the U.S. F... Read the Full Story |
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Politics | | | The U.K. government formally confirmed Thursday that it's lifting a ban on fracking in England, arguing that the move will help boost the country's energy security amid Russia's war in Ukraine.
Prime Minister Liz Truss announced within days of taking office earlier this month that she... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Check-Cap Ltd., a clinical stage medical diagnostics company, engages in the development of a capsule-based screening technology that utilizes ultra-low-dose X-rays to scan the inner lining of the colon for precancerous polyps, and other structural abnormalities in Israel. Its C-Scan system consists of C-Scan Cap, an X-ray scanning capsule for detection of suspected polyps; C-Scan Track, a disposable system attached to the patient's back through biocompatible adhesive skin patches; and C-Scan View software, a client/server-based application that enables procedure data download from the C-Scan Track, data analysis, and report generation. Check-Cap Ltd. was incorporated in 2004 and is based in Isfiya, Israel. | | View Today's Stock Pick |
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