Good MorningEquity markets continued to sell off on Wednesday following stronger than expected New Home Sales. The pace of new home sales surged in September as prospective buyers tried to front higher interest rates. The news would otherwise be good equities but reveals sustained demand in the housing market that will underpin high home prices and inflation. The S&P 500 shed nearly 1.5% at the low of the session, setting a new low, and it appears ready to move lower again later this week.
The next 2 days will be trying for equity markets. The Q3 GDP read, September retail sales, and the PCE price index are due, and all are expected to be hot. In this scenario, the FOMC will keep interest rates high, and the risk of additional increases grows. Recent comments from JPMorgan CEO Jamie Dimon suggest that another single 25 basis point hike will be insufficient to cap inflation, and multiple hikes are still ahead. The odds that the FOMC will break something in that scenario are insurmountable. Featured: Forget “Realistic” - This Stock Is Up 15x (Darwin) 
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The business cycle is dislocating sectors left and right. Just a couple of years ago, it seemed that no matter which one you looked at, they all beat the S&P 500 benchmark. We are getting further and further away from that bullish sentiment these days, as favoritism and allocation prefere... Read the Full Story |
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People often forget that, despite the presence of trading bots and algorithms, the majority of the market is comprised of people with one common goal: to make the bottom number bigger. There is one other thing these participants shared: the same psychological drivers.
When it comes to real estate... Read the Full Story |
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When optimism takes over the masses, you can bet your bottom dollar that herd behavior will cause investors and markets to follow into hype-related stocks, typically high beta ones. Some examples of these businesses could be consumer discretionary stocks. These companies rely on the optimism in th... Read the Full Story |
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Oilfield services stocks like Halliburton (NYSE: HAL) and Schlumberger (NYSE: SLB) are pulling back following their Q3 earnings reports, but this is not the time to sell. These stocks are supported by a global supercycle that has years to run. The cause for the post-release weaknesses is tepid res... Read the Full Story |
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Markets | | | Hong Kong’s leader on Wednesday cut taxes for some homebuyers and stock traders to boost markets as the city seeks to maintain its reputation as a global financial hub. Chief Executive John Lee said the extra stamp duties imposed on non-resident buyers and current local homeowners looking to buy add... Read the Full Story |
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One aircraft company that hasn’t benefited from the travel recovery is Spirit AeroSystems Holdings, Inc. (NYSE:SPR). The Kansas-based plane parts manufacturer has been grounded by the Russia-Ukraine conflict, fewer orders, labor costs and lingering supply chain issues. A wider net loss is ex... Read the Full Story |
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Markets | | | Economic crises are rippling through the countries bordering Israel, raising the possibility of a chain reaction from the war with Hamas that further worsens the financial health and political stability of Egypt, Jordan and Lebanon and creates problems well beyond.Each of the three countries is up a... Read the Full Story |
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Markets | | | The nation’s economy expanded at a robust 4.9% annual rate from July through September as Americans defied higher prices, rising interest rates and widespread forecasts of a recession to spend at a brisk pace Read the Full Story |
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Stocks | | | World shares were mixed Wednesday after China pledged more spending to energize its economy. Benchmarks fell in Paris, Frankfurt, Sydney and Seoul but rose in London, Tokyo and Hong Kong. U.S. futures were mixed and oil prices turned higher. China plans to issue 1 trillion yuan ($139 billion) in gov... Read the Full Story |
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Markets | | | The European Central Bank left interest rates unchanged Thursday for the first time in over a year as the Israel-Hamas war spreads even more gloom over already downbeat prospects for Europe’s economy.It is the bank's first meeting with no change after a torrid pace of 10 straight increases dating to... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Mr. Cooper Group Inc., together with its subsidiaries, operates as a non-bank servicer of residential mortgage loans in the United States. The company operates through Servicing and Originations segments. The Servicing segment performs activities on behalf of investors or owners of the underlying mortgages and mortgage servicing rights, including collecting and disbursing borrower payments, investor reporting, customer service, modifying loans, performing collections, foreclosures, and the sale of real estate owned. The Originations segment originates residential mortgage loans through its direct-to-consumer and correspondent channels. The company provides its services under the Mr. Cooper and Xome brands. The company was formerly known as WMIH Corp. and changed its name to Mr. Cooper Group Inc. in October 2018. Mr. Cooper Group Inc. was incorporated in 2015 and is based in Coppell, Texas. | | View Today's Stock Pick |
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