Good MorningStocks pulled back on Wednesday despite a much better than expected ADP report. The ADP report says more than 800,000 new jobs were created in December which is more than double the consensus estimate. The news is great for the economy as it means much-needed positions are getting filled and log-jams in the supply chain will begin to ease but it also means hiring. Wages are on the rise as well and expected to accelerate in this month’s NFP report. The buzz on Wall Street is that wage inflation will run in the mid-teens this year.
The reason for the pullback was the FOMC minutes which revealed a much-more hawkish Fed than the market was looking for. The FOMC minutes indicate the committee could hike rates for the first time by March and begin trimming the balance sheet soon after. The yield on the ten-year treasury advanced to an 8-month high on the news while the NASDAQ Composite shed more than 2.75% at the low of the day.
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When you consider all your options, you may wonder what stock sectors you should jump on in this "new day and age." After all, with elevated inflation, turtlelike economic growth, and interest rate hikes, what should we look forward to?
In November, the unemployment rate fell to 4.2%, and experts... Read the Full Story |
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After a strong 2020, China’s stock market had a rough go of it last year. Beijing’s regulatory action and tight monetary policy led to a 29% decline in the MSCI China index. Most U.S. listed Chinese companies didn’t fare well either.
Looking ahead to 2022, the good news is that ... Read the Full Story |
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Tech | | | Stocks closed lower on Wall Street Wednesday after minutes from the Federal Reserve’s last meeting raised expectations that the central bank will move faster to raise interest rates to fight inflation Read the Full Story |
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Tech | | | Stocks edged lower in afternoon trading on Wall Street Wednesday as technology companies slipped and weighed down major indexes again.
The S&P 500 fell 0.4% as of 1:36 p.m. Eastern. The tech-heavy Nasdaq fell 1.3%. The Dow Jones Industrial Average rose 70 points, or 0.2%, to 36,87... Read the Full Story |
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Politics | | | The former chief financial officer for the New Mexico Spaceport Authority filed a whistleblower lawsuit alleging that he was forced to resign after raising concerns about financial malfeasance that he said cost taxpayers millions of dollars.
Among numerous allegations, Zach DeGregori... Read the Full Story |
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From Our Partners | | Bitcoin is breaking out — and one state just created a Strategic Crypto Reserve.
James Altucher says this marks the beginning of “Trump’s Great Gain,” a new crypto bull phase driven by emerging federal policies. He believes certain altcoins could turn $900 into $108,000 — and reveals everything in a new presentation. | | See Altucher’s Great Gain gameplan here |
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Markets | | | A preliminary voting report in the Boy Scouts of America bankruptcy indicates the group’s reorganization plan has failed to win the desired support from tens of thousands of men who say they were sexually abused as children Read the Full Story |
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Politics | | | Protesters in Kazakhstan's largest city stormed the presidential residence and the mayor's office on Wednesday and set both buildings on fire, according to new reports, as demonstrations sparked by a rise in fuel prices in the Central Asian nation escalated sharply.
Police fired on s... Read the Full Story |
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Markets | | | Small-cap Richardson Electronics (NASDAQ: RELL) caught our attention last earnings cycle when it reported earnings. Strengthening trends across all end markets were driving results and indicated strength would continue in the current quarter. Read the Full Story |
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Stocks | | | Beyond Meat (NASDAQ: BYND) investors got some game-changing news when Yum! Brands KFC announced it was going nationwide with its meatless chicken product. The launch comes after two years of testing and a successful string of test launches in 2020 and 2021. Read the Full Story |
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Markets | | | Domestic casino operator Penn National Gaming, Inc. (NASDAQ: PENN) shares have fallen by (-60%) off the 2021 highs into year’s end despite being one of the few profitable publicly traded casinos. The Company has virtually no exposure to Macau which is undergoing intense China scrutiny with pot... Read the Full Story |
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The Early Bird Stock Of The Day nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to protect electronics and data in mission critical applications, including data solutions. This segment also offers digital and automation solutions, system integrations, and global services. The Electrical & Fastening Solutions segment provides solutions that connect and protect power and data infrastructure. This segment also offers power connections, fastening solutions, cable management solutions, grounding and bonding systems, and tools and test instruments. The Thermal Management segment offers heat management solutions that protect people and assets. This segment includes heat tracing for freeze protection and process temperature maintenance and control; pipe freeze protection, surface deicing, hot water temperature maintenance, floor heating, fire-rated wiring, and leak detection; and heat trace systems, connected controls, remote monitoring, and annual service programs. The company markets its products through electrical distributors, contractors, and original equipment manufacturers under the CADDY, ERICO, GARDNER BENDER, HOFFMAN, ILSCO, RAYCHEM, SCHROFF, and TRACER brand names. Its products are used for various applications, such as industrial, commercial and residential, infrastructure, and energy. nVent Electric plc was founded in 1903 and is based in London, the United Kingdom. | | View Today's Stock Pick |
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