Good MorningEquities went on a wild ride Thursday first rebounding only to peak out midday on comments from the Fed. Fed President Harker made comments to the effect that inflation was not under control, the FOMC was still hiking rates, and that additional rate increases could be large. The market made an abrupt about-face on the news, confirming resistance at the short-term 30-day moving average for the 3rd day in a row. If the market can not break this trend the odds of a pullback to 3,500 will grow to a near certainty.
The next FOMC meeting is less than two weeks away and the CME FedWatch Tool is pricing in a near 100% chance for another historic 75 basis point interest rate hike. Between then and now, the PCE price index for September will be released and it is likely to be a hot one. The takeaway now is that 75 basis point rate hikes could be on the table until inflation comes down to a manageable level. Featured: Forget All Other Stocks. Focus Here. (Darwin) 
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Markets | | | Snack food giant Mondelez International (NASDAQ: MDLZ) stock is trading down (-13%) for the year faring better than the S&P 500 (NYSEARCA: SPY) which has fallen (-25%), respectively. Mondelez is the world’s top seller of cookie biscuits and the 3rd largest chocolate maker ahead of #5 Hersh... Read the Full Story |
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Markets | | | Energy-sector strength was on display Thursday as oil-and-gas explorer Matador Resources (NYSE: MTDR) was trading within 3% of its June 8 high of $67.78.
The Dallas-based mid-cap reports its third quarter on October 25, with analysts anticipating earnings of $2.53 a share on revenue of $766.17 mill... Read the Full Story |
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Freeport McMoran (NYSE: FCX) third-quarter results came in weaker on the back of copper prices retreating. Copper prices had run up significantly in the previous year, and since then have declined by almost 30%. Copper is usually seen as a leading indicator, due to its inherent involvement with th... Read the Full Story |
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Markets | | | AT&T (NYSE: T) gapped up 4.86% Thursday after the company dialed in better-than-expected third-quarter revenue and earnings. Those numbers were driven by a higher wireless postpaid subscriber count than analysts anticipated.
Around 30 minutes into Thursday’s session, AT&T was tr... Read the Full Story |
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Politics | | | Asian shares were mostly lower Friday in muted trading, as investors kept an eye on inflation and awaited the outcome of a Communist Party congress in China.
Benchmarks fell in most regional markets but rose in Mumbai.
China's ruling party congress is expected to wrap ... Read the Full Story |
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From Our PartnersSavvy investors looking to ease portfolio pressure in today's turbulent markets are learning the power of diversifying to an explosive group of stocks. Many of these stocks don't adhere to the general market fluctuations and are able to navigate external problems better than their larger counterparts. | | Get all the details on this select group of stocks here. |
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Politics | | | Global shares were mostly lower Friday in muted trading, as investors kept an eye on inflation and awaited the outcome of a Communist Party congress in China.
France's CAC dipped 1.6% in early trading to 5,988.78. Germany's DAX lost 1.4% to 12,584.52.
Britain's FTSE 10... Read the Full Story |
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Markets | | | CSX Corp. delivered 15% more profit in the third quarter as it handled 2% more freight and worked to eliminate the delays shippers have been complaining about for months.
The Jacksonville, Florida-based railroad said Thursday that it earned $1.11 billion, or 52 cents per share, in the... Read the Full Story |
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Markets | | | The three biggest U.S. airlines enjoyed a boffo summer, reaping a combined profit of more than $2 billion as Americans jammed on to planes despite fares that were sharply higher than a year ago.
What pandemic?
American Airlines said Thursday that it earned $483 million ... Read the Full Story |
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Politics | | | UNITED NATIONS — The U.N. humanitarian coordinator in Ukraine says the “humanitarian catastrophe” in the country has new dimensions.
That includes dealing with the acute needs of people as winter approaches, getting to newly accessible areas in the Kharkiv and Kherson regions and dea... Read the Full Story |
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Tesla (NASDAQ: TSLA) continued to witness revenue growth, but fell slightly short of expectations, as demand from Asia, particularly China, did not live up to expectations. Tesla’s stock has been quite resilient through the year, despite the broader market falling precipitously as inte... Read the Full Story |
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Friday's Early Bird Stock Of The Day DICE Therapeutics, Inc., a biopharmaceutical company, builds various oral therapeutic candidates to treat chronic diseases in immunology and other therapeutic areas. Its platform DELSCAPE is designed to discover selective oral small molecules to modulate protein-protein interactions as effectively as systemic biologics. The company's lead therapeutic candidate is DC-806, an oral antagonist of the pro-inflammatory signaling molecule, interleukin-17 (IL-17) that is a validated drug target implicated in a various immunology indications. It also develops DC-853, an oral IL-17 antagonist. In addition, the company is developing oral therapeutic candidates targeting alpha 4 beta 7 integrin for the treatment of inflammatory bowel diseases, as well as targeting alpha V beta 1/ alpha V beta 6 integrin for the treatment of idiopathic pulmonary fibrosis. Further, it focuses on programmed death-ligand 1 program, an immuno-oncology targeting antibody therapeutics. The company was founded in 2013 and is headquartered in South San Francisco, California. | | View Today's Stock Pick |
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