Good MorningEquity markets were mixed on Wednesday, with the S&P 500 struggling to extend its longest winning streak in 2 years. The move comes after a sharp melt-up driven by the Q3 earnings season, cooling inflation, and evidence the Fed is nearing the peak of the rate hike cycle, so a slowdown in upward momentum is expected.
The caveat for investors is that the new normal is still in place and will continue to drag on corporate earnings over the coming quarters. The S&P 500 may continue to rally from here, but there is risk. The market is still below critical resistance at the 4,400 level and may have difficulty moving above it without another significant catalyst.
All eyes will be on central bankers on Thursday. Central bankers from around the world will participate in a panel discussion. The topic is global financial stability and will include inflation and interest rates. The risk in this event is talk of persistent inflation and lingering interest rates, which are hurting the global economy. Signals that inflation is tamed or that rates will soon fall could lift the market. Featured: Unlock a 15x ROI with Alternative Energy Investment (Darwin) 
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Despite giving investors a mild heart attack during the first few days of public trading, shares of Birkenstock Holding plc (NYSE: BIRK) have been putting in a good shift ever since. In one of the more high-profile IPOs of the year, not least because of how recognizable the brand is, the 250-... Read the Full Story |
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Mode saw 150x revenue growth from 2019 to 2022, making them one of America's fastest-growing companies thanks to their "EarnPhone," a budget smartphone that's helped consumers earn & save $150M+
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Shares of Vertex Pharmaceuticals, Inc. (NASDAQ: VRTX) are down nearly 2% after the company delivered its third-quarter earnings report. The news wasn't particularly bad, although there was a slight miss on the top line.
But with VRTX stock up over 30% in 2023, it's fair to say that the sto... Read the Full Story |
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The Altria Group Inc. (NYSE: MO) has been reinventing itself, transitioning more towards smokeless tobacco products. Tobacco smoking has been trending lower for years. The percentage of adult smokers in the United States has declined from 42.6% in 1965 to 13.7% in 2018 and is expected to fall towa... Read the Full Story |
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From Our PartnersThere is little debate on the potential of gold in the next year and decade. The real issue becomes - what's the best gold investment strategy today? Some investors are opting for a unique "royalty" alternative that outshines other options like holding gold bullion or investing in volatile mining stocks. | | Read this stunning report on a little-known gold royalty investment strategy |
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It’s yet to be seen whether Warren Buffett and Berkshire Hathaway (NYSE: BRK.A) are involved in the latest bounce in Occidental Petroleum (NYSE: OXY) shares, but it doesn’t matter. The Q3 results align with the thesis robust cash flow allows for share repurchases, dividend growth, and ... Read the Full Story |
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Markets | | | Asian shares retreated Friday after rising bond market yields once again weighed on Wall Street, ending a lull in wider swings in prices during a brief respite from market moving data releases.U.S. futures edged higher and oil prices also advanced.Investors in Asia are facing steady declines followi... Read the Full Story |
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Gilead Sciences (NASDAQ: GILD) share price tanked following the Q3 release on what was otherwise a good report. The company is gaining traction in key markets, sustaining its core business, and offsetting the expected decline in COVID-19 sales that aren't declining as fast as expected.
The ... Read the Full Story |
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Markets | | | The International Monetary Fund says the European Central Bank and other policymakers across Europe need to keep interest rates at current elevated levels until they’re sure inflation is under control despite sluggish growth Read the Full Story |
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Markets | | | Shares meandered in Asia on Thursday after a another mixed close on Wall Street where benchmarks have been recalibrating following recent big swings. Stock prices fell in Hong Kong, Taiwan and Bangkok and rose in Tokyo, Seoul and Shanghai. U.S. futures slipped and oil prices edged higher. China repo... Read the Full Story |
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Markets | | | Germany's economy will shrink by 0.4% this year and grow only by a relatively modest 0.7% next year, the government's panel of independent economic advisers forecast Wednesday.The panel joined several other forecasters in revising downward its outlook for Europe's biggest economy. Its prediction for... Read the Full Story |
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Markets | | | UBS reported Tuesday a $255 million pre-tax loss as the giant Swiss bank shed some 4,000 jobs globally, cut costs faster than expected, and reaped billions in asset inflows in the third quarter while moving forward with its government-orchestrated merger with rival Credit Suisse.The Zurich-based ban... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Orchid Island Capital, Inc., a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company's RMBS is backed by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS comprising interest only securities, inverse interest only securities, and principal only securities. The company has elected to be taxed as a real estate investment trust (REIT) for the United States federal income tax purposes. As a result, it would not be subject to corporate income tax on that portion of its net income that is distributed to stockholders, if it annually distributes dividends equal to at least 90% of its REIT taxable income to its stockholders. Orchid Island Capital, Inc. was incorporated in 2010 and is headquartered in Vero Beach, Florida. | | View Today's Stock Pick |
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