Good MorningEquity markets continued to rebound on Tuesday, but investors should not read too much into the move. The S&P 500 gained less than 1% for the day and remains below critical resistance. If anything, Tuesday's gain was a relief rally within a bear market and 1 that comes with outsized risk. Today is the FOMC policy decision, and the odds are high that the committee will issue a very hawkish statement.
The pace of inflation remains high despite recent slowing and will keep the Fed's foot on the economic brakes indefinitely. In the absence of a recession, the odds favor high inflation for a prolonged period due to resilient labor markets, consumer spending and oil demand.
Regardless, the consensus figures for Q4 and 2024 S&P 500 earnings growth are suffering. The consensus figure for Q4 is down 50% from its peak and could fall further. Because earnings growth is a market-leading data point, it is likely the S&P 500 will continue to see downward pressure. Featured: An EV Company to Get Your Eyes On (UNKNOWN) 
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The Health Care Select Sector SPDR Fund (NYSEARCA: XLV) was down 3.81% in the past month and 8.03% in the past three months. The latest round of pharmaceutical stock earnings isn't helping sector performance.
S&P 500 components Bristol Myers Squibb Co. (NYSE: BMY), AbbVie Inc. (NYSE: ABBV),... Read the Full Story |
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From Our PartnersThe Wall Street Journal reports that this medical breakthrough is "Transforming Medicine." One analyst calculated that it could be worth $1 Trillion, making the upside potential of this small-cap 66,000% above today's price. | | | | Get all the details here >>> |
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Traditional businesses typically become stagnant or outright 'boring' due to a combination of positive and negative factors. On the positive side, stagnation and stability come from the 'if it's not broken, don't fix it' attitude of doing things the same as before just because they've been working... Read the Full Story |
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Global streaming audio platform Spotify Technology SA (NASDAQ: SPOT) had an impressive third quarter of 2023. Its metrics have improved, and the integration of artificial intelligence (AI) into its platform is making noticeable improvements in its business. Spotify has used personalization as a ke... Read the Full Story |
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From Our Partners... If the United States goes to war with another nuclear armed superpower, this could have a devastating impact on your retirement portfolio. Now, even Taiwan's own foreign minister is saying that China is on the cusp of a full scale invasion. But the good news is, if China invades Taiwan, there is a way to protect yourself. | | | | Click Here to Learn How >>> |
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Stocks | | | The Federal Reserve kept its key short-term interest rate unchanged for a second straight time but left the door open to further rate hikes if inflation pressures should accelerate in the months ahead Read the Full Story |
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Markets | | | Anheuser-Busch InBev said Tuesday that revenue growth in most of its global regions was offset by a drop in North American sales in the third quarter, in a sign of continuing fallout from a promotion with a transgender influencer.The world's largest brewer and parent company of Bud Light said its re... Read the Full Story |
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From Our PartnersTeeka Tiwari, the man who picked Nvidia before it skyrocketed as high as 5,246%, is now recommending this AI stock…
Because it’s most likely supplying Elon Musk with a key piece of advanced tech for his new AI venture.
Hurry… Elon Musk has promised that he “will share more information [about this AI project] over the next couple of weeks.” | | | | Click here now before it’s too late. |
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Markets | | | Automaker Stellantis said Tuesday that the autoworkers strike in North America is expected to cost the company around 750 million euros ($795 million) in profits —less than its North American competitors.The Europe-based maker of Jeep, Fiat and Peugeot reported a 7% boost in net revenues to 45.1 bil... Read the Full Story |
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Shares of Caterpillar (NYSE: CAT) fell after a sequential slow-down in business. The slowdown suggests slowing in the industrial equipment industry, foreshadowed by competitors such as Volvo (OTCMKTS: VOLVY), but it’s not the worry for investors that it could be. For 1, the slowdown is seaso... Read the Full Story |
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Markets | | | The inflation that has been wearing on European consumers fell sharply to 2.9% in October, its lowest in more than two years as fuel prices fell and rapid interest rate hikes from the European Central Bank took hold Read the Full Story |
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Markets | | | An official survey of manufacturers shows China’s factory activity contracted in October, suggesting the economy remains on uneven footing. The purchasing managers’ index, or PMI, fell to 49.5 in October on a 100-point scale, down from 50.2 last month, according to the National Bureau of Statistics ... Read the Full Story |
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Check Point Software (NASDAQ: CHKP) is not a high-flying hyper-growth story but a solid, blue-chip name in cybersecurity. It produces growth, but slowly. The more attractive feature is its cash flow and share repurchasing power. Check Point Software is a cash flow engine that drives shareholder va... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day New York Community Bancorp, Inc. operates as the bank holding company for Flagstar Bank, N.A. that provides banking products and services in the United States. The company's deposit products include interest-bearing checking and money market, savings, non-interest-bearing, and retirement accounts, as well as certificates of deposit. Its loan products comprise multi-family loans; commercial real estate loans; acquisition, development, and construction loans; commercial and industrial loans; one-to-four family loans; specialty finance loans and leases; warehouse loans; and other loans, such as home equity lines of credit, boat and recreational vehicle indirect lending, point of sale consumer loans, and other consumer loans, including overdraft loans. The company offers cash management products; non-deposit investment and insurance products; and online banking, mobile banking, and bank-by-phone services. It primarily serves individuals, small and mid-size businesses, and professional associations. The company was formerly known as Queens County Bancorp, Inc. and changed its name to New York Community Bancorp, Inc. in November 2000. New York Community Bancorp, Inc. was founded in 1859 and is headquartered in Hicksville, New York. | | View Today's Stock Pick |
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