Good MorningEquities fell again on Tuesday on the combined influence of the Omicron COVID variant and remarks from Jerome Powell. Mr. Powell, FOMC Chairman, says the committee will begin talking about an accelerated taper despite the rising threat of the new COVID variant. The news is not altogether surprising given the state of inflation but was unexpected in the face of the new threat. Ultimately, if the Omicron variant does cause disruptions in the global economy, it would likely result in higher inflation due to tightening supply in the face of high demand.
Today’s trading will be focused on the ADP report and the NFP report that is due on Friday. The ADP and NFP are expected to show upwards of half a million new jobs created in November and the figure could be much hotter. Regardless, employment and labor conditions are another cause for inflation and that situation isn’t expected to change significantly.
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Politics | | | Asian shares were mostly higher Wednesday amid nervous trading due to worries over the newest coronavirus variant.
Japan's benchmark Nikkei 225 rose 0.4% to finish at 27,935.62. South Korea's Kospi jumped 2.1% to 2,899.72. Australia's S&P/ASX 200 dipped 0.3% to 7,235.90. Hong Kon... Read the Full Story |
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As the stock market adage goes, a rising tide lifts all boats. As we’ve learned in recent days, unfortunately, the opposite is also true.
Newfound concerns around the latest coronavirus variant have created broad-based weakness in U.S. equities. Early pandemic winners and vaccine plays have... Read the Full Story |
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Markets | | | Stocks fell on Wall Street Tuesday after the head of a major vaccine maker expressed concern about how effective current jabs will be against the new variant of the coronavirus.
The S&P 500 fell 0.5% as of 10:28 a.m. Eastern. The Dow Jones Industrial Average fell 287 points, or 0.... Read the Full Story |
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Politics | | | At a playground outside a North Texas day care, giggling preschoolers chase each other into a playhouse. Toddlers scoot by on tricycles.
Just uphill, Total Energies is pumping for natural gas. The French energy giant wants to drill three new wells on the property next to Mother's Hear... Read the Full Story |
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Markets | | | Small-cap Haynes International (NASDAQ: HAYN) is finding support near its 50-day moving average after slipping from a November 9 high of $47.08. The stock is outperforming the Russell 2000 small-cap index. Read the Full Story |
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Politics | | | Chair Jerome Powell says the Federal Reserve will consider acting more quickly to dial back its ultra-low-interest rate policies to counter higher inflation, which Powell acknowledged will likely persist well into next year Read the Full Story |
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Politics | | | President Joe Biden visits a Minnesota community college Tuesday to highlight how his $1 trillion infrastructure law will create jobs and help train workers.
The trip occurs at a crucial pivot point for Biden, who is facing the threat of the new omicron strain of the coronavirus and h... Read the Full Story |
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Markets | | | For a company that couldn’t seem to stop rallying last year, 2021 has been death by a thousand cuts for Zoom Video (NASDAQ: ZM). Shares of the video conferencing company hit their all-time highs in October of 2020, right around when COVID vaccines started being approved, and they’ve fall... Read the Full Story |
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Markets | | | Salesforce.com (NYSE: CRM) is one of the best-positioned tech company’s working on the Internet today. The company is not only the leader but the very creator of Customer Relationship Management and is still growing at a high double-digit rate now, more than 20 years after its founding. Read the Full Story |
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Markets | | | Online travel agency (OTA) MakeMyTrip (NASDAQ: MMYT) stock is attempting to coil on the continuing spread of COVID-19 vaccinations. The rapidly growing Indian market travel platform was a pandemic loser transformed into a benefactor of the reopening. COVID-19 vaccinations has been the driver fo... Read the Full Story |
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