Good MorningEquity markets pulled back in late day trading on Thursday as the realities of high inflation set in. The January PPI report confirmed that inflation is not only running hot and well above the Fed's target rate but also accelerating again. In this light, the expectation for FOMC easing later in 2023 is misplaced due to a growing need for ongoing action. The risk now is not that the FOMC may cause a recession but that it now needs to cause a recession to tamp down inflation.
Friday's action could tell the tale, is the S&P 500 in a rally that can continue or is it at the peak and about to correct? As it is, the S&P 500 index is having difficulty getting over resistance at the 4,150 level and bearish indications are firming. Another pullback in the price action, given the decline in outlook for S&P 500 earnings, could easily retest the 2022 market lows and even set a new low. Featured: Massive “Heist” Could Sweep U.S. Banks in 2023 (Altimetry) 
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The travel industry has been one of the most challenging sectors to invest in for the past few years, as COVID-19 was such a gut shot to the industry. Travel volume went to near-zero virtually overnight, and it still hasn't fully recovered.
While the US Travel Association doesn’t see a full... Read the Full Story |
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Markets | | | Wall Street tumbled Thursday, and stocks fell by the most in four weeks following more evidence that high inflation is staying stickier than expected.
The S&P 500 dropped 1.4% after a report said inflation at the wholesale level slowed by less last month than economists forecast. ... Read the Full Story |
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Stocks | | | Pipeline operators Enterprise Product Partners L.P. (NYSE: EPD), Energy Transfer L.P. (NYSE: ET) and MPLX L.P. (NYSE: MPLX) are among energy-industry master limited partnerships outperforming the broader market while also throwing off high dividend yields.
That makes some of these companies w... Read the Full Story |
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Generac Holdings, Inc. (NYSE: GNRC) stock is up 7% the day after it posted mixed fourth-quarter and full-year earnings on February 15. But the stock is down 4% from the post-earnings rally that briefly took shares above $140 per share.
The rally has to be a relief to shareholders who have ... Read the Full Story |
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O’Reilly Automotive Inc. (NASDAQ: ORLY) is in buy range after clearing a base with a buy point north of $856.57. Investors hit the accelerator on February 9 following the company’s better-than-expected fourth-quarter report.
The company cited strength in both the consumer DIY se... Read the Full Story |
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Markets | | | Shares slipped in Asia on Friday after benchmarks on Wall Street had their biggest drop in four weeks as investors registered disappointment over an inflation reading that came in hotter than expected.
Oil prices and U.S. futures also declined after the S&P 500 fell 1.4% Thursday ... Read the Full Story |
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Markets | | | DoorDash said Thursday that it saw a record number of orders and active users in the fourth quarter as it expanded overseas and gained market share at home.
The San Francisco-based delivery company said its monthly active users grew 28% to a record 34 million during the October-Decem... Read the Full Story |
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Markets | | | Shares have slipped in Europe and Asia after benchmarks on Wall Street took their biggest hit in four weeks as investors registered disappointment over an inflation reading that came in hotter than expected Read the Full Story |
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Bloomin’ Brands (NASDAQ: BLMN) is blossoming after years of rocky recovery in the post-pandemic world. The company just released results well above pre-pandemic levels and indicated business was thriving despite headwinds. The most telling detail of the report is the dividend. The company cu... Read the Full Story |
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Markets | | | Angry protesters in Lebanon Thursday smashed windows and set tires on fire outside two of the country's biggest banks in the capital city, as the value of the local currency hit a new low and poverty deepens.
Lebanon’s economic meltdown and unprecedented financial crisis erupted in 20... Read the Full Story |
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Friday's Early Bird Stock Of The Day Purple Innovation, Inc. designs and manufactures sleep and other products in the United States and internationally. The company offers mattresses, pillows, cushions, bases, sheets, platforms, adjustable bases, mattress protectors, foundations, blankets, duvets, duvet covers, seat cushions, and pet beds under the Purple brand. It markets and sells its products through its e-commerce online channels, retail brick-and-mortar wholesale partners, third-party online retailers, and Purple showrooms, as well as through its website, Purple.com. The company was founded in 2010 and is headquartered in Lehi, Utah. | | View Today's Stock Pick |
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