Good MorningEquity markets tried to move higher on Wednesday following the CPI report. While the headline figure fell a tenth compared to last year and came in below consensus, the rest of the data set overshadows the decline. Headline inflation accelerated compared to last month, and the core figures were as expected and unchanged from last month. This leaves inflation running at more than double the Fed's target and does not allow them to ease back on interest rates. The takeaway for the market is that interest rates may not rise anymore, but they are not going down anytime soon.
The news helped lift tech stocks dependent on debt to fuel growth. The rally lifted the NASDAQ Composite by more than 1% to the highest levels in 6 months and has the index on track to extend the gains. The next target for the tech-heavy index is near 13,000 and it will be a tough line to cross. The S&P 500 is still below critical resistance at 4,150. Featured: "An AI that can make you rich?" (Tradesmith) 
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During the COVID-19 pandemic, e-commerce experienced an unprecedented boom as online shopping skyrocketed during lockdowns. Years later, this surge has not receded, and online shopping has become the new normal for consumers. Retail giant Amazon has revolutionized how consumers shop and disrupted ... Read the Full Story |
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Rivian Automotive's (NASDAQ: RIVN) shares are rocketing higher in after-hours action on news of ramping production and narrowing losses. The company’s Q1 results sparked a 10% pop in prices that could go much higher should a critical hurdle be crossed. That hurdle is near $15.75 and could be... Read the Full Story |
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Markets | | | Japanese technology investor SoftBank Group reported Thursday a loss of 970 billion yen ($7 billion) for the fiscal year that just ended — the second year in a row of red ink.Tokyo-based SoftBank Group Corp. racked up a 1.7-trillion-yen ($13-billion) loss the previous fiscal year.The latest results ... Read the Full Story |
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Markets | | | The Bank of England has raised interest rates to their highest level since late 2008 as it continues to combat stubbornly high inflation in the U.K. The decision on Thursday by the bank’s nine-member Monetary Policy Committee to lift its main interest rate by a quarter of a percentage point to 4.5% was widely anticipated in financial markets Read the Full Story |
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Dutch Bros (NYSE: BROS) is an exciting growth story that may pan out over time. The problem now is that aggressive growth comes at a cost that has analysts and institutions moving to the sidelines. Compared to Starbucks (NASDAQ: SBUX), which is growing at an above-consensus rate domestically and a... 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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Wendy's (NASDAQ: WEN) shares are advancing by as much as 3% on Wednesday's trading session; the rally in the stock comes amid the company reporting its first quarter 2023 results. The bullish sentiment reflects the operational improvements within the business, coupled with pleasant growth rat... Read the Full Story |
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Markets | | | Financial leaders of the Group of Seven advanced economies are discussing ways to support Ukraine and pressure Russia to end the war as they meet in Japan starting Thursday. Ukraine's finance minister, Serhiy Marchenko, was participating online in the first session of the G-7 talks in Niigata, a por... Read the Full Story |
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Markets | | | Beyond Meat's first-quarter revenue fell nearly 16% due to lower demand for its plant-based burgers, sausages and other meats, but the company expressed optimism that new products and a summer marketing campaign will reinvigorate sales.“I think this is a business that’s turning the corner,” Beyond M... Read the Full Story |
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Markets | | | The hot jobs market has been defying a weakening economy and confounding the Federal Reserve for months, but now shows signs of cooling.The latest set of employment data from the government shows that job openings fell in March to their lowest level since April 2021. Layoffs rose to 1.8 million, the... Read the Full Story |
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Electronic Arts (NASDAQ: EA) is the leading sports video game maker on the market with the #1 and #2 games worldwide and 4 in the top 10, but that may not be enough to get the shares moving higher. The price action popped following the Q4 results and guidance, but the action since then is less tha... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Benson Hill, Inc., together with its subsidiaries, operates as a food technology company that unlocks natural genetic diversity of plants. It operates in two segments, Ingredients and Fresh. The company offers CropOS, a technology platform, which uses artificial intelligence, data, and various advanced breeding techniques that combine data, plant, and food sciences to deliver crops optimized for food, ingredient, and feed products. The company's technology is applied in soybeans and yellow peas. It focuses on growing, packing, and selling fresh produce products to retail and food service customers. The company was formerly known as Benson Hill Biosystems, Inc. Benson Hill, Inc. was incorporated in 2012 and is headquartered in Saint Louis, Missouri. | | View Today's Stock Pick |
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