Good MorningU.S. equities continue to drift higher with the S&P 500 and Dow Jones Industrial Average edging up to set new all-time highs on Tuesday. The move was driven by earnings as much as anything else but consumer confidence figures played a role. Consumer Confidence rose unexpectedly by 400 basis points in October despite mounting headwinds for the economy. What this means for businesses is that price-pass-throughs are being accepted and the consumer is still asking for more. In terms of S&P 500 earnings, this is very good news indeed.
Action will heat up later in the week with reports from many of the big tech names that have been driving the market for the past few years. In addition, Friday’s PCE price index promised to add a bit of volatility as well. The consensus is calling for consumer-level inflation to subside but anecdotal evidence suggests inflation accelerated in October and will continue to accelerate into the end of the year.
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Markets | | | Global stock markets fell Wednesday after Australian inflation rose to a six-year high and a Chinese newspaper warned more real estate developers are likely to default on bonds, while investors looked ahead to U.S. economic growth data due out this week.
London and Frankfurt opened lo... Read the Full Story |
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Tech | | | Growth in Microsoft's cloud computing business helped push its profit up 24% in the July-September quarter over the same time last year.
The Redmond, Washington-based tech company on Tuesday reported quarterly profit of $17.2 billion, or $2.27 per share, beating Wall Street expectatio... Read the Full Story |
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Politics | | | The defense for former Nissan executive Greg Kelly said Wednesday there was no evidence or motives linking him to alleged under-reporting of his ex-boss Carlos Ghosn’s compensation.
Kelly’s chief defense lawyer, Yoichi Kitamura, said in wrapping up the defense’s arguments that Kelly ... Read the Full Story |
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Tech | | | A continued rebound in digital ad spending at Google drove its parent company's profit up 68% in the third quarter.
Mountain View, California-based Alphabet Inc. said Tuesday that it earned $18.94 billion, or $27.99 per share, in the July-September period. Revenue rose 41% to $65.12 ... Read the Full Story |
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Tech | | | Profits at payments giant Visa Inc. jumped in its most-recent quarter, driven by consumers and businesses getting back to spending on their credit and debit cards after the pandemic.
The San Francisco-based company said Tuesday that it earned $3.58 billion in its fiscal fourth quarte... Read the Full Story |
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Oil giant Exxon Mobil (NYSE: XOM) stock has rebounded with energy prices as the post-pandemic reopening continues to accelerate. The return to work and travel trend has been driven by the acceleration of COVID vaccinations, which in turn has driven up crude oil prices to multi-year highs. With ren... Read the Full Story |
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Stocks | | | Sherwin-Williams (NYSE: SHW) share prices are moving sharply higher despite a lackluster Q3 earnings report and guidance and the reason is simple. The mixed results were expected given similar performances from competitors PPG Industries and RPM International and, given the state of the global supply chain, better than they could have been. Read the Full Story |
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Investment income is hard to come by these days. The 10-year Treasury yield has crept higher but still offers a measly 1.6% yield. Investment-grade corporate bond issuers aren’t much more generous.
This has left many investors venturing out along the risk spectrum in search of lower-risk eq... Read the Full Story |
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Stocks | | |
Cadence Design Systems (NASDAQ: CDNS) jumped more than 4% higher mid-session Tuesday, following the company's better-than-expected third-quarter report.
The maker of electronic design software earned $0.80 per share on revenue of $750.9 million. Those were year-over-year increases of 14% and 13%,... Read the Full Story |
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It's easy to get into the habit of only thinking about long-term investing strategies. After all, how many articles have you read about the importance of saving for retirement? Your company puts on retirement seminars, your financial advisor starts conversations with, "Let's take a look at your re... Read the Full Story |
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The Early Bird Stock Of The Day RELX Plc engages in provision of information and analytics solutions for professional and business customers across industries. It operates through the following business segments: Scientific, Technical & Medical; Risk & Business Analytics; Legal; and Exhibitions. The Scientific, Technical & Medical segment is a global information analytics business that helps institutions and professionals advance healthcare, open science, and improve performance for the benefit of humanity. The Risk & Business Analytics segment provides customers with solutions and decision tools that combine public and industry specific content with advanced technology and analytics to assist them in evaluating and predicting risk and enhancing operational efficiency. The Legal segment is a global provider of legal, regulatory and business information and analytics that helps customers increase productivity, improve decision-making and outcomes and advance the rule of law around the world. The Exhibitions segment is an event business, enhancing the effect of face-to-face through data and digital tools. The company was founded by Albert Edward Reed in 1903 and is headquartered in London, the United Kingdom. | | View Today's Stock Pick |
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