Good MorningEquity markets surged on Thursday following a better-than-expected CPI report. The CPI cooled versus the previous month with month-to-month and YOY gains weaker than expected. The S&P 500 gained about 5.5% on the news but the euphoria may be misplaced. While inflation has cooled it remains hot at 7.7% YOY and 6.3% YOY at the core level. At these paces, the market might expect the FOMC to slow the pace of interest rate hikes but not to stop the entirely. This means interest rates will continue to rise and put pressure on the economy which is already showing signs of strain.
Next week, eyes will be on the Producer Price Index, retail sales and the index of leading indicators. If producer prices continue to rise, retail sales show signs of flagging and the leading indicators are negative this week's rally is sure to fade. In that light, Thursday's surge in prices may be best used to position for the next downturn in prices than as a trigger for buying stocks. The outlook for earnings continues to deteriorate and that is what's driving the market. Featured: Your Bank Account Is No Longer Safe (Ad) 
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Vision Hydrogen Corporation (OTCMKTS: VIHD) is a renewable energy company with a primary focus on developing clean hydrogen production facilities which supply clean hydrogen to manufacturers and gas and power traders. They also work with consumers in the industrial and heavy and marine transportat... Read the Full Story |
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From Our PartnersAs you may have seen over the last few weeks, I've been giving out special daily setups on my favorite ticker.
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Markets | | | Mid-cap Neurocrine Biosciences (NASDAQ: NBIX) continued its uptrend Thursday, along with the market-wide broad rally.
The stock came within a penny of Tuesday’s all-time high of $125.99 before pulling back. Nonetheless, the San Diego-based biotech finished the session with a gain of $1.40, or... Read the Full Story |
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Politics | | | Wall Street blasted off Thursday to soar to its best day in more than two years as exhilaration swept through markets after a report showed inflation in the United States eased last month by even more than expected.
The S&P 500 surged 5.5%, while the Dow Jones Industrial Average l... Read the Full Story |
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Hanesbrands (NYSE:HBI) is down just about 2% the day after reporting weak third quarter earnings and lowering its guidance for the coming quarter. But that drop of 2% is on the coattails of the broader market which is surging after the October Consumer Price Index (CPI) number came in lower than e... Read the Full Story |
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Six Flags Entertainment (NYSE:SIX) is up over 13% on a day when the market is staging a relief rally of epic proportions. It shouldn’t be. The company posted earnings that confirmed a trend of two consecutive quarters where revenue and earnings are lower on a year-over-year basis.
Re... Read the Full Story |
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If you are wondering what Coupang (NYSE: CPNG) is and why it’s up 25% in a single day that’s easy. The company is an eCommerce company focused on South Korea and it just reported a profit. The news has the stock up more than 25% in intraday trading and it could go higher but don’... Read the Full Story |
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Tech | | | Japanese technology investor SoftBank Group Corp. reported on Friday a 3 trillion yen ($21 billion) profit for the July-September quarter, a sharp reversal from its loss a year ago.
After its 398 billion yen loss a year earlier, quarterly sales rose to 1.6 trillion yen ($11 billion) f... Read the Full Story |
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Tech | | | Elon Musk is warning Twitter employees to brace for “difficult times ahead” that might end with the collapse of the social media platform if they can't find new ways of making money.
Workers who survived last week's mass layoffs are facing harsher work conditions and growing uncertain... Read the Full Story |
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Tech | | | Elon Musk has emailed Twitter employees, most working remotely, ordering them to return to the office immediately for at least 40 hours a week and warning of “difficult times ahead.”
A pair of Wednesday night missives seen by The Associated Press marked Musk's first companywide messag... Read the Full Story |
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Tech | | | A satellite intended to improve weather forecasting and an experimental inflatable heat shield to protect spacecraft entering atmospheres were launched into space from California on Thursday.
A United Launch Alliance Atlas V rocket carrying the Joint Polar Satellite System-2 satellite... Read the Full Story |
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Friday's Early Bird Stock Of The Day Alphabet Inc. offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube. It is also involved in the sale of apps and in-app purchases and digital content in the Google Play and YouTube; and devices, as well as in the provision of YouTube consumer subscription services. The Google Cloud segment offers infrastructure, cybersecurity, databases, analytics, AI, and other services; Google Workspace that include cloud-based communication and collaboration tools for enterprises, such as Gmail, Docs, Drive, Calendar, and Meet; and other services for enterprise customers. The Other Bets segment sells healthcare-related and internet services. The company was incorporated in 1998 and is headquartered in Mountain View, California. | | View Today's Stock Pick |
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