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: Wall Street’s quietly buying these 3 AI infrastructure plays (Ad) 
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Finance | | 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 | | BlackRock, JPMorgan, Goldman Sachs, and Fidelity are reportedly accumulating a scarce blockchain asset - one that gets burned with every transaction on what analysts are calling America's new financial grid.
The Nasdaq has received SEC approval to move stocks onto blockchain rails, and BlackRock CEO Larry Fink dedicated his entire 2026 annual letter to this infrastructure shift. Blockchain analyst Andy Howard is calling this asset 'Digital Oil' - and says institutional buyers are already positioned. | | Get the name, the ticker, and exactly how to buy it |
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Medical | | 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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Consumer Staples | |
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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Medical | |
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, fire, ... Read the Full Story |
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Technology | |
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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From Our Partners | | With OpenAI and Anthropic moving closer to the IPO spotlight, AI excitement could spill into several public-market sectors this summer - and most investors may chase the obvious names too late.
A free report identifies 7 stocks positioned around themes that could matter most this summer: AI infrastructure, energy demand, travel, entertainment, home improvement, and more. Built for a market where leadership may rotate quickly. | | Download 7 Best Stocks to Own in Summer 2026 for free |
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Basic Materials | | Shares of copper miner Freeport-McMoRan Inc. (NYSE: FCX) have been in rally mode lately, getting a further boost from the company’s third-quarter report despite a decline in profit attributed to lower copper prices.
However, the company topped Wall Street expectations and the company offered... Read the Full Story |
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Retail/Wholesale | |
Shares of McDonald’s Corporation (NYSE: MCD) sizzle in the wake of its Q3 earnings report. It looks like shares could set a new all-time high very soon. The combination of business strength, dividend health, dividend growth and sell-side support have rocketed the company higher but also fire... Read the Full Story |
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Energy | |
Chevron (NYSE:CVX) is up about 1.5% on the day that the company reported another strong quarter. The oil company delivered earnings per share of $5.56. This beat expectations by 34 cents and was just a little lower than the record of $5.82 EPS the company posted in the prior quarter. On the revenu... Read the Full Story |
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Retail/Wholesale | |
Amazon.com Inc. (NASDAQ: AMZN) came in better than expected for the third quarter. However, Amazon’s stock fell 13% during market hours as the company warned that the outlook for both the retail operations and AWS will be weaker than previously forecasted for the fourth quarter. Why is Amazo... Read the Full Story |
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Technology | |
Apple Inc. (NASDAQ: AAPL) continued to beat expectations, despite weakness in iPhone sales compared to previous years. While iPhone sales slightly affected growth, Apple continued to see significant increases in revenue due to computer sales from the iMac and China reopening. Despite Foxconn reduc... Read the Full Story |
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Monday's Early Bird Stock Of The Day Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant. The Downstream segment refines crude oil into petroleum products; markets crude oil, refined products, and lubricants; manufactures and markets renewable fuels, commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives; and transports crude oil and refined products by pipeline, marine vessel, motor equipment, and rail car. The company was formerly known as ChevronTexaco Corporation and changed its name to Chevron Corporation in 2005. Chevron Corporation was founded in 1879 and is headquartered in San Ramon, California. | | View Today's Stock Pick |
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