Good MorningBearish momentum is building on Wall Street. Wednesday's market rebound was nothing more than a blip on the radar, possibly driven by short-covering, as traders and investors continue to move to cash. The move comes just a day before the fresh read of the PCE price index and put the S&P 500 at a new 22-month low. Assuming the PCE index comes out as expected, the sell-off could easily gain momentum and take the market down to the 3,500 level or lower.
The PCE index is expected to come in at 0.5% MoM and 4.7% YOY, which are both an acceleration from the previous month and a new high for the YOY comparison. The takeaway is the market is expecting the worst, and the data could be hotter than predicted. Regardless, the data is in support of the Hawkish FOMC, so investors should be prepared for at least another 50 basis points of interest rate hikes at the next meeting if not another 75. Featured: Want To Trade Tech? This Is The Stock For You (Darwin) 
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Stocks | | | Investors learned from Target (NYSE: TGT) and Walmart (NYSE: WMT) that consumers are shifting purchases away from discretionary items and toward groceries. One company benefiting from continued spending on food is JM Smucker (NYSE: SJM), famous for making jams and jellies, but also the parent ... Read the Full Story |
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From Our PartnersThere’s no way to sugarcoat it, the market has totally sucked this year if you’re investing on the long side. In fact, it’s been the worst first six months of the year since the 1970’s. And yet, even in this crazy market, there’s a powerful strategy you can use to make potentially big gains.
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Politics | | | Global stocks were mixed Friday after inflation in 19 countries that use Europe's euro currency spiked to a record and Chinese factory activity weakened.
London and Frankfurt opened higher. Shanghai and Tokyo declined while Hong Kong advanced.
Wall Street futures reboun... Read the Full Story |
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Stocks | | | With the market continuing to hit the skids, despite Wednesday’s bounce higher, dividend-paying stocks like Keurig Dr Pepper (NASDAQ: KDP) may look more and more attractive.
But can it bubble to the top of investors’ watch lists, especially when compared to bigger rivals Coca-Cola... Read the Full Story |
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From Our PartnersHistorically, things like precious metals, consumer staples, commodities, utilities, health care, and transportation stocks have performed well in a bear market. Our experts say these 4 stocks are positioned well - even in a down market. | | Click here to get the names & ticker symbols of all 4 stocks. |
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Markets | | | Health insurance and wellness provider Humana (NYSE: HUM) stock has been outperforming the benchmark indexes trading up 4.6% for the year versus (-31%) for the Nasdaq (NYSEARCA: QQQ) and (-16%) for S&P 500 (NYSEARCA: SPY). Healthcare is considered a recession proof business that continues to ris... Read the Full Story |
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Stocks | | |
The used car dealership CarMax (NYSE:KMX) disappointed investors with a lemon of an earnings report. The company showed softer revenue than expected. But the headline number was the company’s profit decline. The company reported earnings per share (EPS) of 79 cents, nearly 50% below the aver... Read the Full Story |
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From Our PartnersThis quietly trading NASDAQ company is firing on cylinders with its latest acquisition. | | | | Continue Reading |
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Stocks | | |
Labor market stocks like Paychex (NASDAQ: PAYX), Automatic Data Processing (NASDAQ: ADP), and even Cintas (NASDAQ: CTAS) have been sustaining growth and outperforming expectations in the face of sketchy economic conditions, and that trend is not ending. The latest reports from Cintas and Paychex s... Read the Full Story |
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Politics | | | The U.K.'s Office of Budget Responsibility says it will deliver an initial analysis of the government’s economic plan on Oct. 7 following a meeting Friday with Prime Minister Liz Truss.
The pledge came after Truss and Treasury chief Kwasi Kwarteng met with OBR officials amid efforts t... Read the Full Story |
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Tech | | | Japan is providing a major U.S. chipmaker a subsidy of up to 46.6 billion yen ($322 million) to support its plan to produce advanced memory chips at a Hiroshima factory, the Japanese trade minister said Friday.
The announcement to subsidize Micron Technology comes on the heels of U.S... Read the Full Story |
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Markets | | | Growth in Chinese factory activity was weak in September, export orders fell and employers cut jobs, two surveys showed Friday, adding to pressure on lackluster economic growth.
A monthly purchasing managers’ index released by business news magazine Caixin fell to 48.1 from August’s 4... Read the Full Story |
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Politics | | | European Union energy ministers on Friday adopted a package of measures to soothe the energy crisis, including a windfall levy on profits by fossil fuel companies, but a deal on capping gas prices remained off the table.
With energy prices skyrocketing across Europe since the Russian ... Read the Full Story |
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Friday's Early Bird Stock Of The Day Allakos Inc., a clinical stage biotechnology company, develops therapeutics that target immunomodulatory receptors present on immune effector cells in allergy, inflammatory, and proliferative diseases in the United States. The company's lead product candidate is AK006, which in a Phase I clinical trial for the treatment of chronic spontaneous urticaria (CSU) and other indications. The company was incorporated in 2012 and is headquartered in San Carlos, California. | | View Today's Stock Pick |
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