Good MorningEquities were cautious on Wednesday ahead of the FOMC announcement and press conference but quickly found solid footing in the wake of the release. The FOMC decided to begin the taper with an incremental $15 billion reduction per month until the middle of next year. Fed Chief Jerome Powell says the trajectory of the taper is not set in stone and could be adjusted at any time.
Investors should take that to mean tapering may accelerate over the next few months along with the inflation data. Inflation is still rising unchecked and there is little sign within the economy those pressures are subsiding. Even when they do, there is no guarantee retailers and merchants will lower their prices to match. The next big hurdle of the week is the NFP report on Friday. If the NFP is in-line with the ADP report jobs should come in the range of 550,000 to 600,000.
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Tech | | | Asian shares rose Thursday, boosted by the U.S. Federal Reserve's announcement on winding down the extraordinary aid for the economy it has been providing since the early days of the pandemic.
Japan's benchmark Nikkei 225 gained 0.7% in afternoon trading to 29,729.44. South Korea's K... Read the Full Story |
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Politics | | | OPEC and allied oil-producing countries will decide Thursday how much oil they think the global economy needs, with President Joe Biden urging Saudi Arabia and Russia to increase production and lower U.S. gasoline prices — so far to no avail.
The OPEC+ alliance, made up of OPEC member... Read the Full Story |
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Stocks | | |
By the end of the decade, electric vehicle (EV) charging companies are likely to be household names. Like the Exxon or Chevron gas stations of today, it’ll become second nature for the newest generation of drivers to swing by their favorite charging stations.
Allied Market Research estimate... Read the Full Story |
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From Our PartnersWall Street is loading up on shares of one 5G SuperStock (26 million shares purchased).
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Markets | | | Japan’s top automaker Toyota reported Thursday a 33% jump in second fiscal quarter profit, as it raised its full year forecast despite supply chain woes related to the coronavirus pandemic.
Toyota Motor Corp. recorded a 626.65 billion yen ($5.5 billion) profit for the July-September ... Read the Full Story |
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Tech | | | Britain’s government has claimed that the “end of coal is in sight” after 18 countries including Poland, Vietnam and Chile committed for the first time to phase out and not build or invest in new coal power Read the Full Story |
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Markets | | | Deere executives said Wednesday that the company wouldn't return to the bargaining table with striking workers because it wouldn't offer a better contract than one they rejected that included immediate 10% raises.
Marc Howze, the chief administrative officer of Deere & Co., said t... Read the Full Story |
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Stocks | | | Recreational vehicle (RV) maker THOR Industries (NYSE: THO) stock has been selling off on fears of slowing demand and pricing power erosion, despite blowout earnings and a record $16.86 billion backlog. Read the Full Story |
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Markets | | | Shares of SiteOne Landscape Supply Company (NYSE: SITE) just set a new all-time high and we are not surprised. The company has been firing on all cylinders and growing at a phenomenal pace despite the pandemic and headwinds within the economy. Read the Full Story |
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Stocks | | | Scotts Miracle-Gro (NYSE: SMG) reported a double-digit decline in YOY sales but that is the only negative thing we can say about the report. The company beat on all other metrics and indicated strong demand for products would carry through into next year. Read the Full Story |
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Stocks | | |
Molecular testing biotech Progenity (NASDAQ: PROG) stock was pummeled by the pandemic as its testing revenues were slashed in half. With the acceleration of COVID-19 vaccination, the maker of pregnancy and diagnostic testing kits is seeing revenues improve. The Company has repositioned itself as a... Read the Full Story |
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The Early Bird Stock Of The Day Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santander Mexico engages in the provision of banking and financial solutions. It operates through the following segments: Retail Banking, Global Corporate and Investment Banking, and Corporate Activities. The Retail Banking segment provides a range of services to individuals, private banking, small and medium enterprises, middle-market corporations, and government institutions. The Global Corporate and Investment Banking segment offers global transaction banking, financial solutions and advisory, and corporate finance to Mexican and multinational corporations, financial groups, and large institutional clients. The firm products include mortgages, credit cards, payroll loans, loans, and other. The company was founded on November 16, 1932 and is headquartered in Mexico City, Mexico. | | View Today's Stock Pick |
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