Good MorningThe rebound in equities picked up steam on Friday following better-than-expected news. Better than expected is all that can be said about the news, however, because the PCE price index accelerated on a YOY basis at the headline and core levels. The news is a dead weight for S&P 500 earnings and points to another aggressive 75 basis point interest rate hike from the FOMC in the coming week.
The news that no one is talking about is the outlook for earnings. While the earnings reports last week were better than expected the margin of outperformance was very tepid and the forecast for the next quarter got worse. The consensus figure for Q4 2022 earnings growth for the S&P 500 is hovering near 0.5% and on track to fall below 0.0% before the start of the reporting season. Worse, the consensus figures for next year are in the same decline and suggest there will be little to no earnings growth in calendar 2023. Featured: The $100 Trillion AI Story No One Is Telling You (Ad) 
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AbbVie Inc. (NYSE:ABBV) stock is down 3% in midday trading after the company posted a mixed earnings report. However, that’s a significant improvement from where AbbVie stock opened. In the pre-market, the stock dropped 6% after the released report.
This seems to be a case of ready, f... Read the Full Story |
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From Our Partners | | The Tesla Shock Nobody Sees Coming
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Krispy Kreme (NASDAQ: DNUT) is an iconic brand that’s been around since 1937 selling more than 1.3 billion donuts yearly throughout 30 countries worldwide. Older traders may remember the meme stock like a short squeeze propelling its shares into the triple digits under its old symbol KKD. Th... Read the Full Story |
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Markets | | | Medical diagnostic lab company Quest Diagnostic (NYSE: DGX) stock has been trading within a boxed range from $126 to $146 for the majority of 2022. The Company was instrumental during the early days of the pandemic providing very high volume and high demand COVID pcr testing services. With the pande... Read the Full Story |
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From Our Partners | | How to Collect Up To $5,917/mo From Trump's Made In USA Boom
Thanks to President Trump's America-First policies, a historic wave of investment is flooding back into the United States: Apple committing a colossal $500 billion to build new U.S. factories. Microsoft injecting $80 billion into domestic manufacturing. Nvidia moving critical chip production back to America.
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Shopify (NYSE: SHOP) stock rose 17% in early trading on better-than-expected earnings. Management outlined that the company is set to get back on track after a couple of weak quarters, where sales came in far lower than expected. Shopify’s management had previously stated that investment int... Read the Full Story |
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Markets | | | Investment banking and financial services company Morgan Stanley (NYSE: MS) stock is trading down (-17%) compared to peers Goldman Sachs (NYSE: GS) (-13%) and Charles Schwab (NYSE: SCHW) down only (-6.5%). The blue shoe investment bank has implemented a strategy to diversify its services and cliente... Read the Full Story |
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From Our Partners | | Washington is running out of money…And guess where they'll look next?
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Markets | | | Workers who assemble Apple Inc.’s new iPhone have walked out of their factory in northern China to avoid COVID-19 curbs after some coworkers were quarantined following a virus outbreak.
Videos circulating on Chinese social media platforms showed people said to be Foxconn workers climb... Read the Full Story |
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Markets | | | Chinese manufacturing weakened in October, an official survey showed Monday, adding to downward pressure on the economy as the ruling Communist Party tries to reverse a slowdown.
A monthly purchasing managers’ index declined to 49.2 from September’s 50.1 on a 100-point scale where num... Read the Full Story |
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Markets | | | The FIFA World Cup may be bringing as many as 1.2 million fans to Qatar, but the nearby flashy emirate of Dubai is also looking to cash in on the major sports tournament taking place just a short flight away Read the Full Story |
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Politics | | | Russia announced Saturday that it will immediately suspend its implementation of a U.N.-brokered grain deal that has seen more than 9 million tons of grain exported from Ukraine during the war and has brought down soaring global food prices. Ukraine accused Russia of creating a world "hunger games.”... Read the Full Story |
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Politics | | | The Russian Defense Ministry says Moscow has moved to suspend its implementation of a U.N.-brokered grain export deal which has seen more than 9 million tons of grain exported from Ukraine and brought down global food prices Read the Full Story |
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Monday's Early Bird Stock Of The Day International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate. The Consulting segment focuses on skills integration for strategy, experience, technology, and operations by domain and industry. The Infrastructure segment provides on-premises and cloud based server, and storage solutions, as well as life-cycle services for hybrid cloud infrastructure deployment. The Financing segment offers client and commercial financing, facilitates IBM clients' acquisition of hardware, software, and services. The company has a strategic partnership to various companies including hyperscalers, service providers, global system integrators, and software and hardware vendors that includes Adobe, Amazon Web services, Microsoft, Oracle, Salesforce, Samsung Electronics and SAP, and others. The company was formerly known as Computing-Tabulating-Recording Co. International Business Machines Corporation was incorporated in 1911 and is headquartered in Armonk, New York. | | View Today's Stock Pick |
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