Good MorningThe sell-off in equities deepened on Thursday, helping to confirm a top in the index, but all is not lost. The S&P 500 is still showing support at the short-term 30-day moving average, where it may be able to stage a comeback. The catalyst that could do it is earnings and economic data due next week. The Q4 earnings reporting season hits high gear next week and brings reports from Microsoft, Verizon and Johnson & Johnson, all bellwethers for their respective industries.
The economic calendar is also full next week, but the only report that matters comes out on Friday, and that is the PCE price index. The index should confirm a peak in inflation, and it may fall more than expected. The risk for the market is that inflation may subside but not brighten the outlook for 2023 and cap any gains that may form. The takeaway is the consensus figures for forward S&P 500 figures are more important than ever. Featured: Laser breakthrough could send stock soaring 2,476% (Behind the Markets) 
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Markets | | | The Latest on the World Economic Forum gathering in Davos, Switzerland:
Trade ministers from a handful of nations have announced an initiative to promote trade policies that support action on climate change at a press conference in Davos, Switzerland.
Their aims include... Read the Full Story |
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Markets | | | Asian stock markets rose Friday after Wall Street losses deepened as worries grow that the U.S. economy is headed for recession.
Shanghai, Tokyo and Hong Kong advanced. Seoul declined. Oil prices gained.
Traders worry the Federal Reserve and other central banks might be... Read the Full Story |
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Short-term rental marketplace Airbnb Inc. (NASDAQ: ABNB) has attributes of both a growth and value stock, at least for the moment. Does that mean it’s one to keep an eye on or even determine whether it’s worth a buy?
Shares have advanced 7.06% in the past week and 12.88% in the ... Read the Full Story |
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From Our PartnersWhenever the military develops a breakthrough technology, timely investors could see groundbreaking returns.
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Tesla Inc. (NASDAQ: TSLA) is cutting prices in its European and North American markets. The most recent figures suggest the carmaker could slash retail prices by as much as 20% in the year(s) to come, which could help the EV company in many ways. This price shift comes as Tesla closed its fiscal y... Read the Full Story |
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Markets | | | Shares were higher in Europe and Asia on Friday after Wall Street declined on worries that the U.S. economy is headed for recession.
U.S. futures were little changed while oil prices advanced.
Traders worry the Federal Reserve and central banks in Europe and Asia that ... Read the Full Story |
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Markets | | | Stocks are losing ground again on Wall Street in afternoon trading Thursday as worries build that the U.S. may be headed for a painful recession.
The S&P 500 fell 0.4% as of 1:48 p.m. Eastern, on pace for its third straight drop. The Dow Jones Industrial Average fell 134 points, o... Read the Full Story |
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Exxon Mobil Corporation (NYSE: XOM) is within striking range of clearing a cup-shaped base that the stock began forming in mid-November.
This, along with its oil-and-gas industry peers, was part of last year’s rally that made energy the only winning sector last year.
Exxon Mobi... Read the Full Story |
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Markets | | | Japan's consumer inflation rate hit a 41-year high of 4% in December, as prices for everything from burgers to gas surged.
That rate is still relatively low, compared to some other nations, including the U.S. Japan, the world’s third-largest economy, has been fending off deflation, o... Read the Full Story |
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Mid-session Thursday, Australian miner BHP Group Limited (NYSE: BHP) traded higher, bucking the broad-marked downdraft. A combination of factors, including China’s reopening, an expected increase in merger-and-acquisition activity, and the company’s strong iron-ore production, are... Read the Full Story |
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The coronavirus pandemic has caused a global economic recession, and tech companies have been hit especially hard. As the economy continues to suffer, tech companies must make tough decisions to survive. This includes layoffs, which are becoming increasingly common in the tech industry.
... Read the Full Story |
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Friday's Early Bird Stock Of The Day Zymeworks Inc., a clinical-stage biopharmaceutical company, discovers, develops, and commercializes biotherapeutics for the treatment of cancer. The company's lead product candidates include zanidatamab, a human epidermal growth factor receptor 2 (HER2) that is in Phase 1, Phase 2, and Phase 3 clinical trials, including certain ongoing pivotal clinical trials; and zanidatamab zovodotin, a HER2 -targeted antibody-drug conjugate that is in Phase 2 clinical trial for the treatment of advanced or metastatic HER2-expressing tumors. It also develops a pipeline of preclinical product candidates and discovery-stage programs in oncology, including immuno-oncology agents and other therapeutic areas. Zymeworks Inc. has strategic partnerships and collaborations with BeiGene, Ltd.; Celgene Corporation; Celgene Alpine Investment Co. LLC; GlaxoSmithKline Intellectual Property Development Limited; Daiichi Sankyo Co., Ltd.; Janssen Biotech, Inc.; LEO Pharma A/S; Iconic Therapeutics, Inc.; Merck Sharp & Dohme Research GmbH; and Atreca, Inc. Zymeworks Inc. was incorporated in 2003 and is based in Middletown, Delaware. | | View Today's Stock Pick |
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