Good MorningEquities fell to a new low last week, rebounded strongly, hit resistance, and fell again to end the week down ahead of the first busy week of the Q3 earnings season. The move was driven by a hotter-than-expected CPI report that led to a technical bounce from key support. The takeaway is the market is unsure of what to make of the news although the downtrend is still intact. This week, investors should brace for another test of the 3,500 level, and if it is broken another 5% to 10% decline in the index.
Earnings reports will be front and center this week but so too will be the economic data. The data ranges from housing to manufacturing, to the Fed's Beige Book and the Index of Leading Indicators which is expected to be negative for the 6th consecutive month. The takeaway is the market downturn is not over and this week could bring renewed volatility. Featured: The DOJ Just Paved the Way for Account Seizures (Ad) 
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Markets | | | A strong U.S. dollar results in more buying power for U.S. importers and U.S. tourists buying products overseas. However, it’s bad news for U.S. companies that export U.S. products overseas as they receive less for them. We’ve seen the warnings from major players as their earnings and fo... Read the Full Story |
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Inflation continues to be a major story that’s driving markets. And that’s the underlying plot behind the announced merger between Kroger (NYSE:KR) and Albertsons Companies (NYSE:ACI).
On October 13, 2022, Kroger announced that it would pay $34.10 for each Albertsons share to b... Read the Full Story |
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The stock market will limp into third-quarter earnings season with a host of concerns. Negative inflation readings, a hawkish Fed and expectations of a prolonged economic recession are just the headliners.
Last week the S&P 500 slipped below the 3,500 level for the first time since November 2... Read the Full Story |
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Markets | | | What a difference a year makes. Just less than a year ago, graphic semiconductor chip supplier NVIDIA (NASDAQ: NVDA) stock was riding high in the $340s with the underlying business firing on all cylinders. Total revenues grew 46% to record levels. Its video gaming segment saw sales grow 31% to $3.62... Read the Full Story |
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Markets | | |
The S&P 500 index (NYSEARCA: SPY) is trading down (-25%) for the year, which is technically bear market territory. The major driver for falling stock markets and the rising U.S. dollar index (NYSEARCA: UUP) can be attributed to U.S. Federal Reserve (Fed) interest rate hikes which they are... Read the Full Story |
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Markets | | | Credit Suisse has agreed to pay $495 million as part of a settlement with the U.S. over a yearslong dispute tied to mortgage-backed securities, an investment vehicle that played a central role in the 2008 financial crisis Read the Full Story |
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Markets | | | Cloned key fobs, high-powered Hellcats and thieves daring police and risking arrest are part of a trend in which vehicles are being stolen from factory lots and dealer showrooms only to be later sold on the street for tens of thousands of dollars less than their worth Read the Full Story |
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Politics | | | At least 11 Russian soldiers were killed Saturday in a shooting incident that underlined the challenges posed by Russian President Vladimir Putin's hasty mobilization, just as Ukrainian troops pressed an offensive to reclaim the areas in the country's south that were illegally annexed by Moscow.
... Read the Full Story |
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Politics | | | The news that 70 million people will see an 8.7% boost in their Social Security checks next year came just weeks before Election Day, but it's unlikely to give Democrats the edge they're desperately seeking at the polls Read the Full Story |
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Markets | | | The Polish operator of an oil pipeline running to Germany said Saturday that it has fixed the damage that caused a leak earlier this week and that the flow of crude oil from Russia has been fully restored.
The state-run operator, PERN, said that both lines of the Druzhba pipeline wer... Read the Full Story |
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Monday's Early Bird Stock Of The Day Union Pacific Corporation, through its subsidiary, Union Pacific Railroad Company, operates in the railroad business in the United States. The company offers transportation services for grain and grain products, fertilizers, food and refrigerated products, and coal and renewables to grain processors, animal feeders, ethanol producers, renewable biofuel producers, and other agricultural users; and construction products, industrial chemicals, plastics, forest products, specialized products, metals and ores, petroleum, liquid petroleum gases, soda ash, and sand, as well as finished automobiles, automotive parts, and merchandise in intermodal containers. Union Pacific Corporation was founded in 1862 and is headquartered in Omaha, Nebraska. | | View Today's Stock Pick |
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