Good MorningU.S. equities extended their rebound on Wednesday aided by a more dovish than expected statement from the FOMC. The FOMC says to expect the onset of tapering soon but gave no indication of when or by how much. The real surprise in the statement is the possibility of an interest rate hike in 2022. The market had been pricing in zero chance of rate hike until 2023 but the rapid pace of inflation has drastically altered the economic environment.
Although the market is rebounding it is not yet out of the woods. The few earnings reports released this week reveal an underlying problem within the market that will most likely cause the major indices to continue correcting. Results from Lennar and Federal Express reveal inflation is taking a bite out of results. If the consensus outlook for S&P 500 earnings growth begins to contract the market will contract with it.
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Politics | | | Federal Reserve Chair Jerome Powell said the central bank will overhaul its financial ethics policies in response to growing questions about investing and trading decisions by high-ranking Fed officials that raise potential conflicts of interest Read the Full Story |
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Politics | | | Stocks were broadly higher on Wall Street Wednesday afternoon after the Federal Reserve signaled it may begin easing its extraordinary support measures for the economy later this year.
In a statement issued at 2 p.m. Eastern, the central bank said it may start raising its benchmark i... Read the Full Story |
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Markets | | | Fears that a Chinese real estate developer’s possible default on multibillion-dollar debts might send shockwaves through global financial markets appear to be easing as creditors wait to see how much they might recover Read the Full Story |
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Markets | | | Stocks rose broadly on Wall Street Wednesday ahead of an update from the Federal Reserve on how and when it might begin easing its extraordinary support measures for the economy.
The S&P 500 rose 1% as of 1:17 p.m. Eastern. The Dow Jones Industrial Average rose 367 points, or 1.1%... Read the Full Story |
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Markets | | | Shares of Spectrum Brands Holdings (NYSE: SPB) gave up some gains after the stock's 17.79% rocket ride on September 8. Even so, the stock is holding near its high of $97.83, reached that day on the heels of a $4.3 billion deal to sell its hardware and home improvement business to Sweden's ASSA ABLOY. Read the Full Story |
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From Our Partners | | A Historic Gold Announcement Is About to Rock Wall Street?
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Markets | | | Biotech stocks are a polarizing area of the market for many investors. On one hand, these companies have the potential to develop life-changing products that can lead to massive price upside for investors. On the other, investors are always at the mercy of FDA approvals and headlines which can expos... Read the Full Story |
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Markets | | | Lordstown Motors (NASDAQ: RIDE), which caused its own stumbles, may be showing signs of life. While there are some positive developments, including a new CEO and the long-awaited rollout of its Endurance pickup truck, there's still plenty of room for caution. Read the Full Story |
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Markets | | | Adobe’s results for the 3rd quarter ensure the 3rd quarter earnings cycle is going to be an interesting one, the company reported blow-out earnings and garnered the attention of at least ten major sell-side firms. Read the Full Story |
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Tech | | | Tim Sweeney, CEO of Fortnite maker Epic, said Wednesday it's been told by Apple that the game will be “blacklisted from the Apple ecosystem" until the companies' legal case is resolved and all appeals are exhausted, which could take as long as five years Read the Full Story |
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Markets | | | Divorces increased do to the pandemic. If you're headed for a major uncoupling, it's to your advantage to know the implications it could have on your finances. It's not fun to consider, but it's important to take a deep breath and dig in. Read the Full Story |
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The Early Bird Stock Of The Day BeiGene, Ltd., through its subsidiaries, engages in the development and commercialization of oncology medicines worldwide. Its products include BRUKINSA to treat various blood cancers; TEVIMBRA to treat various solid tumor and blood cancers; PARTRUVIX for the treatment of various solid tumor malignancies; XGEVA to treat bone metastases from solid tumors and multiple myeloma, as well as giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; POBEVCY to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC); BAITUOWEI, to treat breast and prostate cancers; TAFINLAR and MEKINIST to treat NSCLC and melanoma; VOTRIENT for advance renal cell carcinoma; AFINITOR for advance renal cell carcinoma, NET, SEGA, & breast cancers; and ZYKADIA to treat ALK + NSCLC. The company is also developing inhibitors comprising Sonrotoclax (BGB-11417), BGB-10188, BGB-21447, Ociperlimab (BGB-A1217), Surzebiclimab (BGB-A425), BGB-15025, BGB-26808, Lifirafenib (BGB-283), BGB-3245, BGB-30813, and BGB-43395; antibodies, including Zanidatamab, BGB-A445, and BGB-A3055, as well as BGB-16673, a BTK-targeted CDAC, and BGB-24714, a SMAC mimetic. It has collaborations with Shoreline Biosciences, Inc., Amgen Inc., Novartis AG, Bristol Myers Squibb company, Shandong Luye Pharmaceutical Co., Ltd., Nanjing Leads Biolabs, Inc., EUSA Pharma, Assembly Biosciences, Inc., Bio-Thera Solutions, Ltd., and Nanjing Leads Biolabs Co., Ltd. The company was incorporated in 2010 and is based in Grand Cayman, the Cayman Islands. | | View Today's Stock Pick |
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