Good MorningMarket action was mixed on Wednesday and left the S&P 500 down almost a full percent at the end of the day. Reports from names like Kraft Heinz and Chipotle Mexican Grill beat their consensus estimates while those from big tech, Microsoft and Google among them, did not. The news has Wall Street on edge with not only the PCE pride index but the next FOMC decision only days away. The takeaway from the earnings reports is that economic conditions are having an impact on the consumer and businesses.
The analysts have been revising their expectations for inflation and are now expecting to see the PCE price index accelerate on a YOY basis. The new figure has core PCE rising to 5.2% YOY from the previous 4.9% and puts consumer-level inflation just shy of the hottest levels in decades. At this pace, the market should expect the FOMC to issue another 75 basis point interest rate hike and a hawkish statement, possibly more hawkish than what they've stated so far. Featured: How to Collect Up To $5,917/mo From Trump’s Made In USA Boom (Ad) 
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Conventional wisdom says to dial back risk in a shaky stock market. Hunkering down with cash, shifting to defensive sectors, seeking inflation-proof companies and moving to dividend payers are all valid strategies. Cash dividends help buffer market downturns and provide income that can be rei... Read the Full Story |
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From Our Partners | | It’s Crypto Week at the White House — and the sector is moving from fringe to full-scale adoption.
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Writing about a stock on the day it posts earnings can sometimes cause you to walk some statements back. But that's not the case as I look at General Electric (NYSE:GE). If I had written about the company on October 25, the day it posted a solid, but not spectacular earnings report, my thought wou... Read the Full Story |
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Markets | | | Global digital marketplace platform eBay (NASDAQ: EBAY) stock has fallen (-43.7%) for 2022. eBay is commonly known as the world’s largest auction marketplace for every sort of item you can imagine. However, it’s also the world’s largest marketplace for collectibles. Collectibles ra... Read the Full Story |
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From Our Partners | | The Tesla Shock Nobody Sees Coming
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Politics | | | Even as the Federal Reserve and the world’s other central banks raise interest rates to try to curb inflation, the Bank of Japan has stood firm.
Since 2016, Japan's key interest rate has been minus 0.1%. The world’s third-largest economy has been battling deflation, or a continuous d... Read the Full Story |
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Tech | | | Seagate Technology said Thursday the U.S. Department of Commerce has warned it may charge the computer hard-drive maker with violating restrictions on exports of high-tech products to China.
The company said in an SEC filing that it rejected the allegations. It says its hard disc-dri... Read the Full Story |
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Politics | | | Shell’s earnings more than doubled in the third quarter, fueling the debate over taxes on energy producers’ windfall profits as they have benefited from high oil and natural gas prices following Russia’s invasion of Ukraine.
Adjusted earnings, which exclude one-time items and fluctuat... Read the Full Story |
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Markets | | | The rapper formerly known as Kanye West was escorted out of the California-based headquarters of athletic shoemaker Skechers after he showed up unannounced Wednesday, a day after Adidas ended its partnership with the artist following his antisemitic remarks.
The Grammy winner, who leg... Read the Full Story |
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Markets | | | The rapper formerly known as Kanye West was escorted out of the California-based headquarters of athletic shoemaker Skechers after he showed up unannounced Wednesday, a day after Adidas ended its partnership with the artist following his antisemitic remarks.
The Grammy winner, who leg... Read the Full Story |
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Bristol Myers Squibb Company (NYSE: BMY) posted a small gain after an earnings report; the company beat its top and bottom lines. The pharmaceutical company delivered earnings per share (EPS) of $1.99 on revenue of $11.22 billion. That was better than the analyst forecast for $1.83 EPS on revenue ... Read the Full Story |
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Kimberly-Clark Corporation (NYSE: KMB) witnessed rising costs, slowing sales due to weakness in consumer demand in North America and dollar strength weighing on its global top line during the latest quarter. Increasing inflation and a decline in purchasing power clearly affects how consumers pick ... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Constellium SE, together with its subsidiaries, engages in the design, manufacture, and sale of rolled and extruded aluminum products for the packaging, aerospace, automotive, defense, and other transportation and industry end-markets. The company operates through three segments: Packaging & Automotive Rolled Products, Aerospace & Transportation, and Automotive Structures & Industry. The Packaging & Automotive Rolled Products segment produces rolled aluminum products, including can stock and closure stock for the beverage and food industry, as well as foil stock for the flexible packaging market. This segment also supplies automotive body sheets and heat exchangers for the automotive market; and specialty reflective sheets. The Aerospace & Transportation segment provides rolled aluminum products, including aerospace plates, sheets, and extrusions; and aerospace wing skins, as well as plates and sheets for use in transportation, industry, and defense applications. The Automotive Structures & Industry segment offers extruded aluminium products and aluminium structural components for the automotive industry, including crash-management systems, body structures, side impact beams, and battery enclosures; and fabricates hard and soft alloy extruded profiles for various industry applications in the automotive, engineering, rail, and other transportation end markets. This segment also provides downstream technology and services, which include pre-machining, surface treatment, research and development, and technical support services. It sells its products directly or through distributors in France, Germany, the Czech Republic, the United Kingdom, Switzerland, and the United States, as well as Shanghai, and Seoul. The company was incorporated in 2010 and is headquartered in Paris, France. | | View Today's Stock Pick |
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