Good MorningEquity markets fell on Tuesday after results from First Republic Bank sent another wave of fear. The bank reported better-than-expected earnings but a 40% decline in deposits, including $30 billion in deposits from major banks like JPMorgan. The news suggests other banks could be susceptible to runs given the catalyst. Because interest rates, the catalyst that put First Republic in its position, are still rising, another bank failure could happen at any time.
The S&P 500 fell more than 1.5% at the session's close and gives further evidence of resistance at the 4,150 level. After-hours reports from names like Google and Microsoft may lift the market on Tuesday, but the long-term outlook continues to sour. Along with First Republic results, reports from UPS and Packaging Corporation of America suggest weakening consumer spending is undermining the US economy and has it on track for a recession later this year. Featured: 5 Stocks to Buy Immediately (IPM) 
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Tech | | | Asian shares mostly fell Thursday, echoing the drop on Wall Street, as worries about the U.S. banking sector and inflationary pressures weighed on investor sentiment. Japan's benchmark Nikkei 225 declined 0.2% in morning trading to 28,349.95. Australia's S&P/ASX 200 slipped 0.4% to 7,288.70. Sou... Read the Full Story |
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Markets | | | They're not quibbling about minor points. There are stark differences in how President Joe Biden and House Speaker Kevin McCarthy want to shore up the government's finances.The Democratic president primarily wants higher taxes on the wealthy to lower deficits; the GOP congressional leader favors sha... Read the Full Story |
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Verizon (NYSE: VZ) is a high-yielding dividend stock that income investors should consider. The company isn’t able to grow substantially or revolutionize markets, but it does make money and pays a high 7% dividend yield. The yield is primarily due to the valuation, the company’s stock ... Read the Full Story |
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In the rapidly evolving online sports betting (OSB) market, DraftKings Inc. (NASDAQ:DKNG) is an odds-on favorite to win.
One of many pandemic winners to lose favor with investors, the tech-led sports betting operator is making a comeback. Favorable legislative momentum and improving financials ha... Read the Full Story |
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United Parcel Service (NYSE: UPS) didn’t have a bad quarter, and it is not in danger of imploding, but the results were lackluster and pointed to a continued slowdown in consumer spending. That’s terrible news because a slowdown in consumer spending, a sustained and possibly accelerati... Read the Full Story |
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A stressing point in the United States economy has been the rapid rise of interest rates affecting the underlying cost of a 30-year mortgage, where some would-be home buyers decided to postpone or outright cancel their plans of buying a home. What is also true for all home builders is the concerni... Read the Full Story |
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Markets | | | Sri Lanka’s president urged lawmakers Wednesday to approve a four-year International Monetary Fund program to reduce the country's debt by $17 billion through restructuring.Parliament began a three-day debate Wednesday on President Ranil Wickremesinghe’s proposal to accept the IMF program. It will b... Read the Full Story |
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Markets | | | Sweden’s central bank on Wednesday raised its key interest rate, saying inflation “is still far too high and underlying inflation has been much higher than expected.”Riksbanken raised its policy rate by half a percentage point to 3.5% and added that it will ”probably” be raised further by a quarter-... Read the Full Story |
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Markets | | | Scroll through TikTok’s finance feed and you’ll come across viral videos on “infinite banking.” The concept is making a splash on social media, fueled by celebrities like rapper Waka Flocka Flame.But infinite banking is nothing new. The term was coined by economist Nelson Nash in the 1980s and outli... Read the Full Story |
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Virios Therapeutics Inc. (NASDAQ: VIRI) is a developmental-stage biotechnology company specializing in novel antiviral therapies for treating fibromyalgia and other abnormal immune response-triggered maladies. The company went public in December 2020. Shares reached a high of $16.71 before making ... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day Petróleo Brasileiro S.A. - Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries. The Refining, Transportation and Marketing segment engages in the refining, logistics, transport, acquisition, and exports of crude oil; and production of fertilizers, as well as holding interests in petrochemical companies. The Gas and Power segment is involved in the logistic and trading of natural gas and electricity; transportation and trading of LNG; generation of electricity through thermoelectric power plants; renewable energy businesses; low carbon services; and natural gas processing business, as well as production of biodiesel and its co-products. The company also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons. In addition, it engages in research, development, production, transport, distribution, and trading of energy. Petróleo Brasileiro S.A. - Petrobras was incorporated in 1953 and is headquartered in Rio de Janeiro, Brazil. | | View Today's Stock Pick |
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