Good MorningEquities pulled back from the recent high on Thursday as the market braces for another hot PCE price index reading. The move confirms resistance below the 3,900 level and sets the S&P 500 up for another test of the recent lows should the market not like the PCE data. As it is, the market is expecting the index to accelerate on a YOY basis from the previous month and to come in just shy of a recent record. At these levels, the index will be at the highest reading in several decades and pointing to another aggressive FOMC interest rate hike.
The next FOMC meeting is less than a week away. The November Fed meeting begins on Tuesday and will culminate with a policy statement and press conference on Wednesday afternoon. The market is pricing in a near 100% chance for a 75 basis point hike and it could come with hawkish commentary, too, if the PCE index is hotter than expected. The takeaway is that inflation is still the driving force of the market and it is still a growing problem. Featured: The DOJ Just Paved the Way for Account Seizures (Ad) 
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Markets | | | Altria (NYSE:MO) stock is essentially flat after the company reported a miss in both revenue and earnings in its quarterly earnings report. The company delivered revenue of $5.41 billion which was shy of analysts’ estimates for $5.59 billion. Earnings were a narrower miss, with Altria posting ... Read the Full Story |
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Politics | | | Shares were mostly lower in Asia on Friday after a mixed session on Wall Street, where tech sector losses offset gains in other parts of the market.
Tokyo’s benchmark slipped as the government was preparing about a massive stimulus spending package to help the world’s No. 3 economy c... Read the Full Story |
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Markets | | | Mid-cap Lantheus Holdings (NASDAQ: LNTH) has been on a revenue growth spurt in recent quarters, boosted by a new product called Pylarify, which helps medical professionals detect prostate cancer through imaging tests.
Lantheus went public in June 2015, which means that it's new enough to be i... Read the Full Story |
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Politics | | | Businesses are increasingly worried about the renewed threat of a railroad strike after two unions rejected their deals, and they want the Biden administration and Congress to be ready to intervene.
A coalition of 322 business groups from a variety of industries signed off on a letter... Read the Full Story |
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Markets | | | All summer long, Aleen Hudson kept looking for a new minivan or SUV for her growing passenger shuttle service.
She had a good credit rating and enough cash for a down payment. Yet dealerships in the Detroit area didn't have any suitable vehicles. Or they'd demand she pay $3,000 to $6,... Read the Full Story |
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Some earnings reports are more significant than others. And that’s the sense that you got when United Parcel Service (NYSE: UPS) reported earnings on October 25, 2022. UPS stock dropped sharply after Federal Express (NYSE: FDX) delivered a warning of sharply lower shipping volumes based on t... Read the Full Story |
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Politics | | | President Joe Biden is focusing on economic issues as he fine-tunes his closing argument in upstate New York for voters trying to cope with raging inflation and fears of a recession heading into the Nov. 8 election Read the Full Story |
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Markets | | | A bipartisan group of attorneys general is asking Albertsons to delay a $4 billion payout to its shareholders until they can complete a review of Kroger's planned acquisition of the grocery chain.
Kroger earlier this month announced it was paying $20 billion to buy Albertsons. The dea... Read the Full Story |
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If you are looking at the ultra-high 111% dividend payout for Zim Integrated Shipping (NYSE: ZIM) and thinking, “This is too good to be true,” you're right. There are factors at play in this yield within Zim Integrated Shipping Services stock that makes it meaningless to... Read the Full Story |
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Markets | | |
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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Friday's Early Bird Stock Of The Day Enviva Inc. produces, processes, and sells utility-grade wood pellets. The company's products are used as a substitute for coal in power generation, and combined heat and power plants. It serves power generators in the United Kingdom, European Union, and Japan. DS: The company was formerly known as Enviva Partners, LP and changed its name to Enviva Inc. in December 2021. Enviva Inc. was incorporated in 2013 and is headquartered in Bethesda, Maryland. On March 12, 2024, Enviva Inc., along with its affiliates, filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Eastern District of Virginia. | | View Today's Stock Pick |
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