Good MorningEquity markets tried to advance on Monday following news that First Republic Bank assets had been seized by regulators and sold off to the highest bidder. That bidder turned out to be JPMorgan Chase & Co, which was primarily responsible for the initial bailout. However, the market could not catch a bid due to lingering uncertainty about the financial sector. JPM CEO Jamie Dimon said this part of the crisis is over; in his words, only so many banks were offside, like First Republic. Now that its depositors are cared for, market participants can move on to the next crisis.
This week will be another test for the market. The earnings deluge will continue with reports from big tech, consumer favorites like Starbucks and staples like Kraft Heinz. The takeaway to date is that earnings are better than expected, but most companies continue to deliver weak guidance. The news of the week will come on Wednesday when the FOMC hikes rates by another 25 basis points and adds incremental pressure to the economy. Featured: Biden fires warning shot for retirement accounts... (Goldco) 
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In the northern hemisphere, the weather is getting warmer, flowering plants and trees are showing new signs of life, and horse race fans are breaking out their Kentucky Derby finery as race day is only a few furlongs away.
But for stock market investors, the month of May has some dark cloud... Read the Full Story |
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Markets | | | First Republic Bank has become the second large regional bank with assets over $200 billion to fail in just a few weeks. Like Silicon Valley Bank, which was seized by the government on March 10, First Republic catered to a wealthy clientele, which helped it grow deposits rapidly but may have also co... Read the Full Story |
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Consumer staples stocks have moved higher across verticals, Colgate-Palmolive Co. (NYSE: CL) included. Despite still-rising costs, these companies exhibit robust pricing power and outperform their consensus expectations. Colgate Palmolive stock's first-quarter results sparked a round of analyst ac... Read the Full Story |
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Since United Parcel Service, Inc. (NYSE: UPS) is considered a bellwether for global economic health, it might be time for a check-up.
The world’s largest delivery company offered a meek full-year outlook last week that suggests e-commerce and B2B activity continues to be slowed by hig... Read the Full Story |
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On April 26th, radio frequency identification (RFID) solutions provider Impinj, Inc. (NASDAQ: PI) looked like it could do no wrong. Its share price and sentiment around its growth prospects were near all-time highs. The following day, things took a drastic turn for the worse.
Seattle-based Impinj... Read the Full Story |
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Global payment processor Visa Inc. (NYSE: V) is in a buy range after breaking out from a double-bottom base with a buy point north of $227.42.
The stock initially pulled back after earnings before rebounding, although its price movements in recent days largely tracked the S&P 500, of wh... Read the Full Story |
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Markets | | | U.S. businesses might be able to secure bank deposit insurance for accounts holding more than $250,000 if Congress agrees with the Federal Deposit Insurance Corp.'s new proposal to ease the industry turmoil that has sparked three bank failures in the past two months.The FDIC recommended the change M... Read the Full Story |
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Markets | | | Lordstown Motors warned that it is in danger of failing as the electronics company Foxconn wavers on a $170 million investment in the commercial electric vehicle startup.The Ohio company said in a regulatory filing on Monday that it had received notice from Foxconn on April 21 that it was in breach ... Read the Full Story |
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Markets | | | Australia’s central bank has surprised markets by increasing its benchmark interest rate by a quarter percentage point to 3.85% despite pausing its climb last month and new evidence that inflation is slowing Read the Full Story |
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Markets | | | Europe's painful inflation has inched higher, extending the squeeze on households and keeping pressure on the European Central Bank to unleash what could be another large interest rate increase.Consumer prices in the 20 countries using the euro currency jumped 7% in April from a year earlier, just u... Read the Full Story |
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Tuesday's Early Bird Stock Of The Day Mondelez International, Inc., through its subsidiaries, manufactures, markets, and sells snack food and beverage products in the Latin America, North America, Asia, the Middle East, Africa, and Europe. It provides biscuits and baked snacks, including cookies, crackers, salted snacks, snack bars, and cakes and pastries; chocolates; and gums and candies, as well as various cheese and grocery, and powdered beverage products. The company's brand portfolio includes Oreo, Ritz, LU, CLIF Bar, and Tate's Bake Shop biscuits and baked snacks, as well as Cadbury Dairy Milk, Milka, and Toblerone chocolate. It serves supermarket chains, wholesalers, supercenters, club stores, mass merchandisers, distributors, convenience stores, gasoline stations, drug stores, value stores, and other retail food outlets through direct store delivery, company-owned and satellite warehouses, distribution centers, third party distributors, and other facilities, as well as through independent sales offices and agents. The company also sells products directly to businesses and consumers through e-retail platforms, retailer digital platforms, as well as through its direct-to-consumer websites and social media platforms. Mondelez International, Inc. was formerly known as Kraft Foods Inc. and changed its name to Mondelez International, Inc. in October 2012. The company was incorporated in 2000 and is headquartered in Chicago, Illinois. | | View Today's Stock Pick |
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