Good MorningEquity markets cratered again on Friday to end a down week on a sour note. The reason is the Omicron variant on top of a Wall of Worry built on supply chain disruption and mounting inflation. The S&P 500 is down about 4.5% from its recent high and looks like it could easily make it a full 5%. The question now is if a 5% correction is all we’re in for or if the selloff will worsen?
This week’s attention will turn to the Q4 earnings cycle and CPI report on Friday. We’re still a month away from the peak of the Q4 reporting season but there are some reports to be aware of. On the economic front, CPI data for November is due out on Friday and could move the market as well. Consumer-level inflation has been running hot and is expected to do so again this week.
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Politics | | | After a blessing by Buddhist monks, Lao Prime Minister Phankham Viphavanh on Friday rode the first run of a $5.9 billion Chinese-built railway that links isolated, mountainous Laos with southern China in an effort to increase trade.
Both governments tout the 1,035-kilometer (642-mile)... Read the Full Story |
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Tech | | | Donald Trump’s new social media company and its special purpose acquisition company partner say the partner has agreements for $1 billion in capital from institutional investors.
The former president launched his new company, Trump Media & Technology Group, in October. He unveiled... Read the Full Story |
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Politics | | | Insurance companies operating in Louisiana will be charged at least $100 million to pay the claims of two failed property insurers who went belly up in Hurricane Ida’s aftermath. But the cost of dealing with the insolvent insurers ultimately will fall on the state after companies recoup the dollars ... Read the Full Story |
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Politics | | | U.S. Energy Secretary Jennifer Granholm said Thursday that the administration's goal for offshore wind and the projects being developed now represent a “gust of job growth throughout the country.”
Granholm visited a new offshore wind manufacturing hub in Providence to talk about the B... Read the Full Story |
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Politics | | | If President Joe Biden's $2 trillion social and environment package was a Broadway show, its seven months on Congress' stage could qualify it as a hit. But lawmaking isn't show business, and many Democrats worry that with the curtain falling soon on 2021, time is not their friend.
Eac... Read the Full Story |
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Markets | | | Health insurance exchange platform eHealth (NASDAQ: EHTH) stock has been crushed falling over (-80%) off its highs heading into year-end. The insurance marketplace received a new CEO just six days prior to its Q3 2021 earnings release. The new CEO comes with a strong background in the healthcare ind... Read the Full Story |
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Markets | | | Wood-alternative maker Trex has been growing earnings at double-digit rates in each of the past eight quarters. The stock has been trading in a constructive channel formation since gapping up more than 14% on November 9, following the company’s third-quarter earnings report. Read the Full Story |
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Markets | | |
Have you put a plan in place to figure out exactly what you need to do to retire with a certain amount of money in the bank — by a certain age?
A total of 49.9% of Americans expect to retire before they turn 62, according to the Federal Reserve Bank of New York.
We can point to a boo... Read the Full Story |
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Markets | | | Digital cloud creative software company Adobe (NASDAQ: ADBE) stock has been on a tear blowing through its pre-COVID highs. The creative software developer was a pioneer in cloud computing and the software as a service (SaaS) subscription model. It revolutionized software company operating models whe... Read the Full Story |
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Markets | | | Shares of Chewy, Inc (NYSE: CHWY) are down 5.0% in the wake of a major downgrade. The downgrade comes from Wedbush who lowered the stock to Neutral from Outperform citing churn within the business. Not only are the comps going to be tough on a YOY basis but Wedbush analyst Seth Basham thinks net new growth will be weak as well. Read the Full Story |
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The Early Bird Stock Of The Day JOYY Inc., together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. It operates through two segments, BIGO and All Other. The company operates Bigo Live, a social live streaming platform, that provides an interactive online stage for users to host and watch live streaming sessions, share their life moments, showcase their talents, and interact with people worldwide; Likee, a short-form video social platform, which enables users to discover, create, and share short videos, with video creation tools and personalized feeds; imo, an instant messenger platform, that provides audio and video communication services; Hago, a social networking platform that offers casual games integrating social features, such as audio and video multi-user chatrooms and 3D virtual interactive party games; and Shopline, a smart commerce platform, that provides solutions and services to enable merchants in creating and growing their brands online and reach customers through various sales channels, including e-commerce platforms, social commerce, and physical retail stores. It operates in the People's Republic of China, the United States, the Great Britain, Japan, South Korea, Australia, the Middle East, Southeast Asia, and internationally. The company was formerly known as YY Inc. and changed its name to JOYY Inc. in December 2019. JOYY Inc. was founded in 2005 and is headquartered in Singapore. | | View Today's Stock Pick |
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