Good MorningEquity markets pulled back on Monday after a weaker-than-expected reading of the Chicago PMI. The Chicago PMI came in at 45.2 which is not only contractionary but a decline from the previous month versus the expected improvement. The takeaway from the data is that general business conditions in the US have entered a contraction despite what the latest GDP data indicated. This, along with the index of leading indicators, suggests a worsening economic backdrop and not one that is improving. Later this week, the market may also be impacted by the NFP report as well as another large interest rate hike from the FOMC.
The market is pricing in a near 100% chance for another 75 basis point interest rate hike on Wednesday but the news may be in the statement. After the last PCE price index reading, it looks like the FOMC will have to get more aggressive and possibly keep policy tighter for longer than has already been indicated. The good news is that the S&P 500 and Dow Jones Industrial Average have had the best October in decades. If this action continues into November it could be a November to remember. Featured: Everyone’s watching Nvidia right now. Here’s why I’m excited. 
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It’s hard to believe that the da Vinci Surgical System developed by Intuitive Surgical (NASDAQ: ISRG) is turning 22 years old since its U.S. Food and Drug Administration (FDA) approval in 2000. A two-decade-old piece of robotic technology would be deemed a legacy product in the tech world, b... Read the Full Story |
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Politics | | | Hong Kong jumped more than 5% and other world markets also advanced after a survey of Chinese manufacturing showed activity has improved.
U.S. futures and oil prices rose, while the euro gained but stayed below $1.
The monthly manufacturing gauge from Caixin, a Chinese... Read the Full Story |
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Markets | | | Iconic motorcycle manufacturer Harley-Davidson (NYSE: HOG) was a pariah in 2018 as then-president Donald Trump villainized the Company for moving some production overseas to mitigate trade tariffs. While profits sank during the 2020 pandemic, the Company has been profitable for the past five ye... Read the Full Story |
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It’s not often that a stock doubles in one week, but Vaxcyte, Inc. (NASDAQ:PCVX) did just that.
The small cap biotech company catapulted back to mid-cap land with a stunning 110% surge last week — and may not be done.
Intense social media buzz translated to heavy trading activi... Read the Full Story |
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No one told Impinj, Inc. (NASDAQ: PI) that 2022 is a down year for technology stocks.
Shares of the emerging digital tech innovator are up more than 30% so far — and by its own standards, that’s a relatively ‘weak’ performance. Over the last three calendar years, Imp... Read the Full Story |
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Politics | | | BP’s earnings more than doubled in the third quarter as the London-based energy giant benefited from high oil and natural gas prices following Russia’s invasion of Ukraine.
Underlying replacement cost profit, which excludes one-time items and fluctuations in the value of inventories, ... Read the Full Story |
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Wondering when Saia (NASDAQ: SAIA) stock could start moving higher? The best answer is any time because this trucker is growing. Saia is a niche operator in the supply chain running a nationwide network of LTL trucking hubs and shipping services. The company has been working hard over the last goi... Read the Full Story |
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Tech | | | Toyota said Tuesday that its profit fell 31% in the last quarter as a shortage of computer chips offset foreign exchange gains from a weaker yen.
Toyota Motor Corp.'s quarterly profit through September totaled 434 billion yen, or $2.9 billion, down from nearly 627 billion yen a year ... Read the Full Story |
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Politics | | | A federal judge has blocked Penguin Random House's proposed purchase of Simon & Schuster, agreeing with the Justice Department that the joining of two of the world’s biggest publishers could “lessen competition” for “top-selling books.” The ruling was a victory for the Biden administration's tou... Read the Full Story |
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Tech | | | Billionaire Elon Musk is already floating major changes for Twitter — and faces major hurdles as he begins his first week as owner of the social-media platform.
Twitter's new owner fired the company's board of directors and made himself the board's sole member, according to a company ... Read the Full Story |
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Tuesday's Early Bird Stock Of The Day Calix, Inc., together with its subsidiaries, engages in the provision of cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services. The company provides Calix Cloud platform, a role-based analytics platform comprising Calix Engagement Cloud, Calix Service Cloud, and Calix Operations Cloud, which are configurable to display role-based insights and enable BSPs to anticipate and target new revenue-generating services and applications through mobile application, such as CommandIQ for residents and CommandWorx for businesses; Calix Intelligent Access EDGE, an access network solution for automated and intelligent networks; and Calix Revenue EDGE, a premises solution for subscriber managed services. It also offers SmartLife managed services, including SmartHome managed services and applications to enhance, operate and secure the connected experience of subscribers in their home; SmartTown managed services that reimagine community Wi-Fi as a ubiquitous, secure, and managed experience across a BSP's footprint; and SmartBiz managed services that address the business networking and productivity needs of business owners with an all-in-one managed service. In addition, the company provides Wi-Fi systems under GigaSpire and GigaPro brands to be ready for deployment as a complete subscriber experience solution for BSP's residential and business subscribers. It offers its products through its direct sales force and resellers. The company was incorporated in 1999 and is headquartered in San Jose, California. | | View Today's Stock Pick |
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