Good MorningEquity markets wobbled on Wednesday following the Fed's 25 basis point interest rate hike. The hike puts the base rate at 550 basis points and the highest level in over 2 decades. The statement indicated a possible pause at the next meeting but left the door open for another historic interest rate hike later this year. The data-dependent Fed will watch the inflation data for its next cue, and the next release is just around the corner.
The PCE price index is due out tomorrow and may alter the Fed's trajectory. The index is expected to moderate from the previous month, the question is by how much and if the decline will be sustained. As it is, the price of oil is on the rise, and oil underpins the cost of everything. With it on the rise, it is likely that inflation will remain hot, if not accelerate and lead the FOMC to raise rates higher and higher. Regardless, there is little expectation for a rate cut until 2024 if then.
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Markets | | | Large capitalization stocks (usually ranging from $50 to $100 billion in size) tend to move very slowly, sort of like a tanker ship trying to turn its course, as opposed to a speedboat trying to corner a turn at high speeds. Boeing (NYSE: BA) is one such stock, a giant in the industry with a va... Read the Full Story |
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Cyber security stocks have been a hot topic for the last few years, Check Point (NASDAQ CHKP) included. The industry is supported by the shift to digital, the shift to the cloud, the new shift to AI, and it is an industry with long legs. Digitization and the cloud will only become more entrenched ... Read the Full Story |
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The price action in Verizon (NYSE: VZ) stock has been trying hard to put in a bottom, and the factors supporting the move are still in place. Verizon trades at a ridiculously low level for almost no reason, paying a safe and growing dividend. The dividend is among the most appealing aspects of the... Read the Full Story |
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Markets | | | Volkswagen saw after-tax earnings fall by 20% in the first half of the year, to 8.5 billion euros ($9.45 billion), as the automaker tries to engineer a rebound in China. The decline from the same period last year was due in part to a 2.5 billion euro non-cash loss on raw materials hedging in financi... Read the Full Story |
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Markets | | | The squeeze is on for profits at big companies.After enjoying a strong run where they could keep raising prices to boost their profits, companies are now stuck in a vise. On one end, revenue is under pressure as the global economy remains fragile. On the other, companies are having to pay higher wag... Read the Full Story |
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Markets | | | NXP Semiconductors (NASDAQ: NXP) did not have a blowout quarter, but the results are good enough that analysts praise the news. The takeaway from the chatter is that another steady quarter with solid cash flow supported by the company's diversification has come and gone.
The results, better than ex... Read the Full Story |
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Markets | | | The European Central Bank raised interest rates for the ninth straight time Thursday in its yearlong campaign to stamp out painfully high inflation and kept the door open to further hikes despite increasing fears of recession.ECB President Christine Lagarde had all but promised the quarter-percentag... Read the Full Story |
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Markets | | | Pakistan's finance minister on Thursday said China has rolled over a $2.4 billion loan for the cash-strapped Islamic nation for two years, a move aimed at helping the country overcome one of its worst economic crises.The latest extension in loan maturities by Beijing was a boost to Pakistan's fragil... Read the Full Story |
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Markets | | | The U.S. economy surprisingly accelerated to a 2.4% annual growth rate from April through June, showing continued resilience in the face of steadily higher interest rates resulting from the Federal Reserve’s 16-month-long fight to bring down inflation Read the Full Story |
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Markets | | | It’s happened again. About this time last month, Tesla Inc (NASDAQ: TSLA) received what was its third rating downgrade in just a few weeks. What we found interesting at the time was that all the analysts putting through the downgrades still felt bullish on Tesla’s lon... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Lilium N.V. engages in the research and development of electric vertical takeoff and landing aircrafts and jet for use in high-speed air transport system for people and goods. It also provides aircraft manufacturer services, including training services, maintenance operations, material management and global distribution, flight operations support, ground service equipment, and digital solutions. The company was founded in 2015 and is headquartered in Gauting, Germany. | | View Today's Stock Pick |
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