Good MorningEquities went on a bit of a wild ride on Tuesday first falling and then moving higher later in the day. The NASDAQ Composite led the day with a gain greater than 10% as tech bounces back. The caveat is that interest rates are still going to rise so the threat posed to the tech sector remains. In other news, FOMC Cheif Jerome Powell indicated to congress his commitment to raising interest rates in order to combat inflation.
The CPI data comes out today and will be the driving force of the market. The market already expects to see consumer inflation accelerate on a YOY basis, the only question is by how much. If the data comes in much hotter than expected it will accelerate the market’s timeline for rate hikes if not the FOMC’s.
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Politics | | | Asian stock markets followed Wall Street higher on Wednesday after Federal Reserve chairman Jerome Powell said monetary policy would return to normal and interest rates might be raised earlier than planned.
Shanghai, Tokyo, Hong Kong and Sydney advanced.
Wall Street's b... Read the Full Story |
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Markets | | |
The S&P 500 consumer staples index has continued to soar. Since a peak in economic growth and the potential for higher market volatility puts downward pressure on cyclical sectors, consumer staples' earnings profile and defensive approach could give your portfolio a lift.
Why else shoul... Read the Full Story |
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Politics | | | The Environmental Protection Agency is taking its first major action to address toxic wastewater from coal-burning power plants, ordering utilities to stop dumping waste into unlined storage ponds and speed up plans to close leaking or otherwise dangerous coal ash sites Read the Full Story |
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Politics | | | Bank of America slashed the amount it charges customers when they spend more than they have in their accounts and plans to eliminate entirely its fees for bounced checks.
It's the latest move by the nation's biggest banks to roll back the overdraft fees they long charged customers, fe... Read the Full Story |
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Tech | | | For the second year in a row, vehicles from Ford Motor Co. took two of the three North American Car, Truck and Utility of the Year awards.
The company's Maverick compact pickup won truck of the year, while its Bronco off-road SUV earned the utility of the year. Honda's redesigned Civi... Read the Full Story |
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From Our PartnersReaders who followed our advice saw ChemoCentrix jump 300% in one day... Array Biopharma jump 148% in one day... Tesaro gain 91% in one day... Loxo Oncology jump 78% in one day... and Krystal Biotech gain 240%. | | Find out our next big biotech trade here >>> |
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Politics | | | High inflation is imposing a burden on American families, Federal Reserve Chair Jerome Powell acknowledged in remarks at a congressional hearing Tuesday at which he is expected to be pressed on what the Fed is doing about surging prices for consumers and businesses.
“We know that hig... Read the Full Story |
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Adaptive network solutions provider Ciena Corporation (NYSE: CIEN) stock exploded higher on its fiscal Q4 2021 earnings release hitting multi-year highs. The optical fiber leader is benefitting from the 5G buildout and digital transformation among the 30 largest global carriers. The Company is exp... Read the Full Story |
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Markets | | | We were only interested in one thing, really, when it came to OrganiGram’s (NASDAQ: OGI) FQ1 performance and that was profitability. We weren’t expecting the company to turn a profit but we wanted news on when it might be profitable because that’s what it’s going to take to get the market to reverse. Read the Full Story |
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Markets | | | Demand for metals, metal products, and metal-related services is high throughout the supply chain so we are not surprised to see AZZ, Inc (NYSE: AZZ) performing well. We are surprised, dismayed rather, to see those same forces driving the business hindering the results as well. Read the Full Story |
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Markets | | | The Greenbrier Companies, Inc (NYSE: GBX) has yet to recover its pre-pandemic revenue levels but the recovery is well underway. The company just reported the 4th consecutive quarter in which new orders outpaced deliveries and the backlog grew. Read the Full Story |
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Wednesday's Early Bird Stock Of The Day Popular, Inc., through its subsidiaries, provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and the British Virgin Islands. The company provides savings, NOW, money market, and other interest-bearing demand accounts; non-interest bearing demand deposits; and certificates of deposit. It also offers commercial and industrial, commercial multi-family, commercial real estate, and residential mortgage loans; consumer loans, including personal loans, credit cards, automobile loans, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases. In addition, the company provides investment banking, auto and equipment leasing and financing, broker-dealer, and insurance services; debit cards; and online banking services. Popular, Inc. was founded in 1893 and is headquartered in Hato Rey, Puerto Rico. | | View Today's Stock Pick |
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