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: 5 Stocks Poised to Soar Under Trump's Presidency (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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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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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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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 Microsoft Corporation develops and supports software, services, devices and solutions worldwide. The Productivity and Business Processes segment offers office, exchange, SharePoint, Microsoft Teams, office 365 Security and Compliance, Microsoft viva, and Microsoft 365 copilot; and office consumer services, such as Microsoft 365 consumer subscriptions, Office licensed on-premises, and other office services. This segment also provides LinkedIn; and dynamics business solutions, including Dynamics 365, a set of intelligent, cloud-based applications across ERP, CRM, power apps, and power automate; and on-premises ERP and CRM applications. The Intelligent Cloud segment offers server products and cloud services, such as azure and other cloud services; SQL and windows server, visual studio, system center, and related client access licenses, as well as nuance and GitHub; and enterprise services including enterprise support services, industry solutions, and nuance professional services. The More Personal Computing segment offers Windows, including windows OEM licensing and other non-volume licensing of the Windows operating system; Windows commercial comprising volume licensing of the Windows operating system, windows cloud services, and other Windows commercial offerings; patent licensing; and windows Internet of Things; and devices, such as surface, HoloLens, and PC accessories. Additionally, this segment provides gaming, which includes Xbox hardware and content, and first- and third-party content; Xbox game pass and other subscriptions, cloud gaming, advertising, third-party disc royalties, and other cloud services; and search and news advertising, which includes Bing, Microsoft News and Edge, and third-party affiliates. The company sells its products through OEMs, distributors, and resellers; and directly through digital marketplaces, online, and retail stores. The company was founded in 1975 and is headquartered in Redmond, Washington. | | View Today's Stock Pick |
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