Good MorningThe equities markets made a small rebound on Wednesday but traders and investors shouldn’t read too much into the move. The S&P 500 gained about 0.75% at the high of the day while trading in a tight range near the low of the previous session. This is an indication of inherent market weakness and one that could lead to a much deeper decline for the market. If the S&P 500 continues to move lower and falls below the 4,300 level the market could take it down another 200 points or more.
The biggest risk this week is the PCE price index on Friday. If the index is hotter than the consensus figure, and there is every reason to think it will be, the onset of tapering at the next FOMC meeting is all but assured. Worse, for the stock market at least, is the fact tighter policy and interest rate hikes will soon follow.
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Markets | | | Cloud-based project management software Asana (NYSE: ASAN) celebrates one year as a public company on September 30. Since making its debut, priced at $21, shares are up more than 400%.
The stock tumbled along with the broader market Tuesday, dropping 10.30% to close at $102.25. Trading volume was 1... Read the Full Story |
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Politics | | | European shares and U.S. futures climbed Thursday after U.S. lawmakers moved to avert a government shutdown.
Germany's DAX edged 0.1% higher to 15,378.85 while the CAC 40 in Paris added 0.5% to 6,593.48. In London, the FTSE 100 also gained 0.5%, to 7,146.51.
The future... Read the Full Story |
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Politics | | | Asian shares were mostly higher on Thursday after a mixed trading session on Wall Street.
Tokyo’s Nikkei 225 index was little changed after the release of disappointing factory and retail sales data. Shares fell in Hong Kong but most other regional benchmarks advanced.
... Read the Full Story |
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Politics | | | Fumio Kishida, the man soon to become Japan’s prime minister, says he believes raising incomes is the only way to get the world’s third-largest economy growing again.
Kishida says he wants to promote a “new capitalism” that would be more equitable, with fairer distribution of nationa... Read the Full Story |
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Politics | | | Fumio Kishida, the man soon to become Japan’s prime minister, says he believes raising incomes is the only way to get the world’s third-largest economy growing again.
Nearly a decade after long-serving Prime Minister Shinzo Abe vowed to “make Japan great again,” Japan is in a holding... Read the Full Story |
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From Our Partners | | There's a massive change from a new rule going into effect this July.
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Markets | | | Macy’s has filed a lawsuit against the company that owns the giant billboard next to its flagship Manhattan store, fighting to prevent Amazon from taking over the advertising space that carried Macy’s name for almost 60 years Read the Full Story |
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Markets | | | Worthington is perfectly positioned for the post-pandemic world. The company makes value-added steel products for manufacturing industries of all varieties, as well as consumer goods and materials for the construction industry. Read the Full Story |
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Markets | | |
Cintas Recovers Its Pre-COVID Revenue Levels
We can nit-pick the labor data all day long but one thing is clear in Cintas (NASDAQ: CTAS) Q1 results. Employment levels if not conditions have regained their pre-COVID levels. This is evident not only in the revenue but in the earnings and the ... Read the Full Story |
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Markets | | | All-in-one video software solution Vimeo (NASDAQ: VMEO) stock is attempting to bottom out after being spun off from parent InterActiveCorp (NASDAQ: IAC). The Company was spun off from its parent in May 2021 and shares have since fallen sharply from a high of $57.88 to a low of $29.31. The company fo... Read the Full Story |
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Markets | | |
You may not exactly talk about it outright, but do you have a sneaking suspicion that someone you care about hasn't made great strides in saving for retirement? In fact, the person you love might be grossly behind in saving for one of life's key financial must-dos.
You've got good reason for your... Read the Full Story |
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The Early Bird Stock Of The Day Dr. Reddy's Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. It operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. The company's Global Generics segment manufactures and markets prescription and over-the-counter finished pharmaceutical products that are marketed under a brand name or as a generic finished dosages with therapeutic equivalence to branded formulations, as well as engages in the biologics business. The PSAI segment manufactures and markets active pharmaceutical ingredients and intermediates, which are principal ingredients for finished pharmaceutical products. This segment also provides contract research services; and manufactures and sells active pharmaceutical ingredients and steroids in accordance with the specific customer requirements. The Others segment engages in developing therapies in the fields of oncology and inflammation; research and development of differentiated formulations; and provides digital healthcare and information technology enabled business support services. The company offers its products for various therapeutic categories primarily include gastro-intestinal, cardiovascular, anti-diabetic, dermatology, oncology, respiratory, stomatology, urology, and nephrology. Dr. Reddy's Laboratories Limited was incorporated in 1984 and is headquartered in Hyderabad, India. | | View Today's Stock Pick |
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