Good MorningEquity markets retreat for the third day running and momentum is building in the wake of the FOMC statement. The FOMC hiked rates by an historic 75 basis points on Tuesday and aims to hike by another 150 to 175 basis points by next summer. The move has the rate on the 30-year mortgage up to 7.0% and rising which is sure to cut even deeper into home building activity. Reports from Lennar and KB Home show demand is still strong but starting to fall off under the pressure of rising prices and higher rates. At the pace the FOMC is going, the housing industry is facing a contraction in revenue and earnings that could begin early next year and lead to a deepening recession in America.
The S&P 500 fell about 0.85% extending the downdraft that began two weeks ago. The move is driven by inflation, the FOMC, and their impact on the outlook for earnings which is in decline. The technical signals are clear, the S&P 500 is in a major correction and it could be another 2 to 3 quarters before the selling is over. Featured: Want A Strong Stock Play? Look No Further (Darwin) 
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Small-cap Compass (NYSE: COMP), which runs an end-to-end platform for buying, selling, and renting real estate, lost its way Thursday, drifting more than 6% lower in heavy volume after announcing layoffs.
Compass has been in a death spiral since its IPO in April, 2021. Soon after it went public a... Read the Full Story |
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From Our PartnersFew people know that Apple's next "star product" could be its most profitable yet! It could dominate a fast-growing new industry that Morgan Stanley projects will be worth a stunning $10 trillion. This new "profit machine" could hand early investors a $190,717 payday. Don't buy Apple stock (unless you enjoy leaving profits on the table). So how can you lock in your shot to 20X your money? | | Click here now to find out how you can get your hands on this explosive opportunity |
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Tech | | | Cybersecurity specialist Crowdstrike (NASDAQ: CRWD) had a terrific run in 2020 and into 2021, but along with other techs, this former growth-stock favorite has been languishing.
But much of that decline is due to interest-rate increases, along with the broader market pullback.
What’s t... Read the Full Story |
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Tech | | |
After recent boom years, investors in the semiconductor industry have experienced a rough year so far in 2022. You only need to look at the VanEck Semiconductor ETF (NASDAQ:SMH) to see how punishing this year has been to chip investors. A leading chip stocks fund with more than $6 billion in net a... Read the Full Story |
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From Our PartnersTin is the forgotten, but CRITICAL metal in the forthcoming electrification revolution. Every component of the carbon reduced and growing data-driven economy requires it. Be an early adopter by investing in this company with a high-quality portfolio of tin projects and an aggressive exploration plan. Positive results recently announced! | |
Add this company to your watchlist |
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Politics | | | Global stocks fell for a third day Friday after more rate hikes by the Federal Reserve and other central banks to control persistent inflation spurred fears of a possible global recession.
London and Frankfurt opened lower. Shanghai, Hong Kong and Seoul declined. Oil prices fell by mo... Read the Full Story |
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Markets | | | Costco (NYSE: COST) put in a strong quarter, but there are two things wrong with the report that means the strength was already priced into the market. The first is a similar report from BJ’s Wholesale Club (NYSE: BJ) last month, a report that indicated strength in the membership club arena as... Read the Full Story |
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From Our PartnersAre you ready for $200 oil? Analysts believe that we could see oil prices soar past $200 a barrel -- and investors need to get ready. To help people prep their portfolios, Louis Navellier just named his #1 oil stock for 2022. | | Get the full story HERE. |
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Politics | | | For 90 years, Engelbert Schlechtrimen's family has been baking wheat rolls, rye bread and chocolate cakes in this western German city. Next month, they will turn off the ovens for good, because they can no longer afford rising energy prices resulting from Russia's war in Ukraine.
Schl... Read the Full Story |
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Markets | | | Steelcase (NYSE: SCS) stock is dropping following a mixed earnings report. In this case, the company beat on earnings but missed on revenue.
Normally, higher profits would be a cause for celebration. In this earnings season, however, investors are paying more attention to the company’s... Read the Full Story |
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Politics | | | Britain’s new government announced a sweeping plan of tax cuts it said would be funded by borrowing and revenues generated by anticipated growth, as part of contentious moves to combat the cost-of-living crisis and bolster a faltering economy Read the Full Story |
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Markets | | | The Detroit auto show has returned after a three-year absence with a roar. And a soar.
Visitors to the prestigious North American International Auto Show, which kicked off last week, can lay eyes on the latest offerings from some of the world's biggest automakers, as they've been able... Read the Full Story |
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Politics | | | The U.K. government on Friday scrapped planned corporate and individual tax hikes and removed a cap on bankers’ bonuses in contentious bid to boost the faltering economy.
Treasury chief Kwasi Kwarteng announced in his “mini budget” Friday that he was reversing a hike in national insur... Read the Full Story |
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Friday's Early Bird Stock Of The Day Nikola Corporation operates as a technology innovator and integrator that develops energy and transportation solutions in the United States and internationally. The company operates in truck and energy units. It commercializes battery electric vehicles (BEV) and hydrogen fuel cell electric vehicles (FCEV) to the trucking sector. In addition, it develops a network of hydrogen fueling stations; and offers BEV charging solutions for its FCEV and BEV customers, as well as other third-party customers. Further, its products include Nikola Tre Class 8 truck and the Nikola's Class 8 FCEV. Additionally, the company assembles, integrates, and commissions its vehicles in collaboration with its business partners and suppliers. Nikola Corporation founded in 2015 and is headquartered in Phoenix, Arizona. | | View Today's Stock Pick |
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