Good MorningEquity markets rose last week, but bank earnings capped the gains. The banks reported better than expected top and bottom line results due to the rise of interest rates. The news is good for them because they make money when rates are high or low; the bad news is that the rest of the economy is paying more for credit and loans, which impacts demand.
The inflation data helped to lift markets last week, but that lift may be short-lived. Oil prices are rising and will underpin another acceleration of inflation if not capped soon. Based on the IEA's demand outlook and OPEC+ production cuts, oil prices will likely move higher in 2023. Featured: Banking Nightmare (Weiss) 
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Mobileye Global Inc. (NASDAQ: MBLY) was among the largest IPOs of 2022, admittedly a weak year for public-company launches, as markets declined and tech, in particular, got slammed.
The stock has shown strong price appreciation, as well as earnings and revenue growth. It beat expectations on both... Read the Full Story |
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From Our PartnersIn 1990, the Brazilian government froze the bank accounts of thousands of citizens. In 2013, the victims were the people of Cyprus. In 2022, it hit closer to home — in Canada. And now the Federal Reserve System Docket No. OP-1670 reveals the plan to give the Fed the power to track and potentially even control your checking account. Not just the money you have in your account...But also, every single check, withdrawal, deposit and transaction. Practically everything you do with your money! | | | | Find out how to protect yourself here |
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Markets | | | Saudi Arabia's crown prince announced Sunday the transfer of a 4% stake of the oil giant Saudi Aramco to a subsidiary of the kingdom's sovereign wealth fund, further boosting its coffers as the kingdom tries to expand its economy beyond oil. Crown Prince Mohammed bin Salman's decision, announced by ... Read the Full Story |
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Historically speaking, lower interest rate environments favor (price appreciation-wise) certain banking stocks rather than others, and vice versa when rates are raised such as they are now. Banks can be divided into two main categories. Investment banks focus on their corporate business franchises... Read the Full Story |
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Markets | | | Asian shares were trading mixed Tuesday as pessimism about global uncertainties remained even as China reported a better-than-expected economic growth data. Japan’s benchmark Nikkei 225 rose 0.5% in morning trading to 28,662.79. Australia’s S&P/ASX 200 shed 0.3% to 7,363.40. South Korea’s Kospi ... Read the Full Story |
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The hot word of the day for technology companies across the industry spectrum is artificial intelligence focusing on creating user-friendly responsive chatbots that can successfully compete with ChatGPT and its capabilities. Once Microsoft (NASDAQ: MSFT) expressed its interest in the technology by... Read the Full Story |
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From Our PartnersLouis Navellier designed one of the most valuable stock-picking algorithms on the market. A system so precise that it helped him find Apple at $1.49, Microsoft at 38 cents and Cisco at 47 cents. Now that system has helped him rank all five stocks in his latest report - 5 Bulletproof Retirement Stocks – a buy. | | | | Claim your free report by clicking here. |
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Earnings season for the banking sector stocks is typically a reliable indicator, a window perhaps, into the state of economic affairs and how the industry that "does" money is positioned as the banks reflect their future outlooks in their operations and financials. In the case of Citigroup (NYSE: ... Read the Full Story |
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Markets | | | The nation's largest banks appear to be weathering the current turmoil in their industry just fine.Despite a pair of historical failures last month that put the nation's banking industry into crisis mode, the nation's biggest banks posted strong profits last quarter, helped by higher interest rates ... Read the Full Story |
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Markets | | | Sofia Andrade, a lawyer, chose over the past month to withdraw all her dollar savings from the bank as the US currency became scarce on the streets of Bolivia. “I prefer to have them at home,” she said. “I fear they won’t let me withdraw them later.”Like her, many Bolivians are withdrawing their dol... Read the Full Story |
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Markets | | | In Spain, the dream of an emissions-free future for heavy industry starts with a rugged Castilian hillside covered in solar panels, and ends with an ice-cold beer. When the beer will be available, and how much it will cost, depends on an intervening rollout of green hydrogen.This Mediterranean natio... Read the Full Story |
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The topic of weight loss drugs has been making recent headlines. The positive phase 1 clinical trial for Viking Therapeutics Inc. (NASDAQ: VKTX) GLP-1 treatment VK2735 caused its shares to rally more than 50%. It found that participants lost up to 8% of body weight using single and weekly doses in... Read the Full Story |
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Monday's Early Bird Stock Of The Day U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; and lending services, such as traditional credit products and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products. It also provides ancillary services comprising capital markets, treasury management, and receivable lock-box collection services to corporate and governmental entity customers. In addition, the company offers asset management and fiduciary services for individuals, estates, foundations, business corporations, and charitable organizations. Further, it provides investment and insurance products to its customers principally within its domestic markets, as well as fund administration services to mutual and other funds. Additionally, the company provides corporate and purchasing card, and corporate trust services. Furthermore, it offers trust and investment management, merchant and ATM processing, mortgage banking, insurance, and brokerage and leasing services. U.S. Bancorp was founded in 1863 and is headquartered in Minneapolis, Minnesota. | | View Today's Stock Pick |
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