Good MorningEquities steadied on Thursday following Wednesday’s FOMC-induced plunge. The action was bolstered by better than expected ISM data but may not be an end to the selling. The Fed’s new stance on inflation is hawkish and points to an aggressive round of rate hikes that has the yield on the ten-year treasury spiking. The yield jumped again on Thursday and threatens to break the bond market out to a new high. If the TNX moves up to set a new high above 1.750% it will open the door to a move up to 3.0% or higher.
Today’s action will be driven by the NFP however. The NFP is expected to be strong after the robust ADP report on Wednesday. A strong report coupled with lower unemployment and accelerating wage growth would seal the deal on interest rates and virtually guarantee a hike within the next 2 to 3 FOMC meetings.
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Markets | | | You already know that MarketBeat is a reputable source of financial information that can hold its own against any of its native digital competitors. But how does MarketBeat stand up against a financial news network? That’s the purpose of this article. In this case, we’ll be comparing MarketBeat to CNBC so you can better understand what each service provides, particularly if investors choose to access the company’s premium services. Read the Full Story |
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Tech | | | Technology and health care companies helped pull stocks lower on Wall Street Thursday, driving the market indexes deeper into the red for the first week of the year.
The S&P 500 slipped 0.1% after wobbling between gains and losses for much of the day. The Dow Jones Industrial Aver... Read the Full Story |
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Politics | | | Stocks are wobbling in afternoon trading on Wall Street Thursday as investors consider the outlook for rising interest rates and inflation.
The S&P 500 moved between gains and losses throughout the morning and was up 0.2% as of 2:11 p.m. Eastern. The Dow Jones Industrial Average ... Read the Full Story |
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Markets | | | Fitness beverage maker Celsius Holdings, Inc. (NASDAQ: CELH) stock had an explosive rise followed by a death defying drop into the end of 2021. Shares skyrocketed as a direct result of the reopening trend as fitness clubs and gyms reopened as well as commuters hitting the roads again. While gross sa... Read the Full Story |
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Tech | | | The New York Times Co. is buying sports news site The Athletic for $550 million, the latest move in its strategy to expand its audience of paying subscribers as the newspaper print ads business fades.
The Times, unlike many local news outlets, has thrived in the past several years. It... Read the Full Story |
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Markets | | | The Monsanto Company pleaded guilty Thursday to illegally using and storing agricultural chemicals in Hawaii, and will pay $12 million in fines.
Monsanto, now owned by German pharmaceutical company Bayer, agreed to plead guilty to the charges in December. U.S. District Court judge Mic... Read the Full Story |
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Politics | | | Security forces in Kazakhstan killed dozens of protesters and 12 police officers died in an eruption of violence that saw demonstrators storm government buildings and set them on fire, authorities said Thursday.
One police officer was found beheaded in the unrest, which poses a growin... Read the Full Story |
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Markets | | | Walgreen’s (NASDAQ: WBA) reported a great quarter in which it beat on the top and bottom lines, and raised guidance, and yet shares are falling. The market appears to have latched onto the company’s increase in labor-related spending, what Walgreen’s refers to as an investment in team members, and its potential impact on the bottom line. Read the Full Story |
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Markets | | | Helen Of Troy (NASDAQ: HELE) reported a truly astonishing quarter relative to the analyst’s estimates and has proven one thing if nothing else; the company is navigating the supply chain and inflationary headwinds with grace and style. Read the Full Story |
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