Good MorningEquity markets were mostly flat on Monday but pulled back nearly 1.0% last in the day as traders brace for another round of economic data. The list kicks off today with a read of the PPi and it should be another hot one at 0.4% month to month. If so, it will underpin the idea that consumer-level inflation is yet to cool off despite the recently weakened CPI report. Also on tap, this week is Retail Sales and the Index of Leading Indicators, which the market often overlooks.
In other news, the New York Fed's inflation gauge shows the expectations for short and long-running inflation have increased. This could lead the FOMC to act aggressively at the next meeting although some members have indicated it may be appropriate to slow the pace of hikes soon. The takeaway is that inflation is still hot, the data is still iffy, and the FOMC is on track to hike rates above 5.0% by early 2023. With interest rates on the rise and the outlook for earnings in decline, the rally in the S&P 500 may not get far if it's not already over. Featured: [No Brainer Gold Play]: “Show me a better investment.” (Ad) 
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Markets | | | Video game developer and publisher Take-Two Interactive Software (NASDAQ: TTWO) stock got pummeled on its recent fiscal Q2 2023 earnings report. Losses were larger than expected with 70% attributed to the weakness in its mobile business and $50 million in FX headwinds as it collects 40% of net reven... Read the Full Story |
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From Our Partners | | Bitcoin just passed Amazon in total market cap — but most investors are missing the bigger opportunity.
While the crowd buys Bitcoin outright, trader Larry Benedict is using a method called “Bitcoin Skimming” to target 6x, 9x, even 22x bigger profits. He reveals how it works in a free video. | | Watch the Bitcoin Skimming strategy here |
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Tech | | | Warren Buffett's company slashed its stake in U.S. Bank's parent company and also sold shares in Chinese electric car maker BYD in the third quarter, according to regulatory filings Monday.
The moves were among several others including a more than $4.1 billion investment in Taiwan Sem... Read the Full Story |
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Tech | | | Testimony began Monday in a Delaware courtroom where a Tesla shareholder is challenging a compensation plan for CEO Elon Musk potentially worth more than $55 billion.
The lawsuit alleges that the performance-based stock option grant was negotiated by a compensation committee and appr... Read the Full Story |
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Very few technology stocks are trading at 10-year highs, but San Jose-based Sanmina Corporation (NASDAQ: SANM) is one of them.
Last week, the mid-cap gapped up after another strong quarterly report. It put a bow on what was a phenomenal fiscal 2022 for the company. Earnings per share (EPS) ... Read the Full Story |
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Markets | | |
If you are interested in Joby Aviation (NYSE: JOBY) it may be time to get on board for the ride of a lifetime. The company is one of the most innovative EV company’s on the market and it is in production which is the primary component of a successful EV investment. For those that don’t... Read the Full Story |
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The days of pandemic-fueled profits and $300 share prices are a distant memory for Wayfair Inc. (NYSE: W). Things were bound to normalize for the online home goods retailer, but its fall from grace has been one of the most stunning post-Covid plunges yet.
The reality check back to 2014 IPO levels... Read the Full Story |
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Politics | | | The Japanese economy contracted at an annual rate of 1.2% in the July-September quarter, as consumption declined amid rising prices.
Seasonally adjusted real gross domestic product for the world’s third-largest economy shrank 0.3% on-quarter, according to government Cabinet Office da... Read the Full Story |
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Tech | | | Apple and the company behind the popular video game Fortnite squared off Monday before three federal appellate judges who will decide the next round in a high-stakes battle over whether the iPhone app store is an illegal monopoly that stifles competition and drives up consumer prices Read the Full Story |
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Tech | | | Search giant Google has agreed to a $391.5 million settlement with 40 states to resolve an investigation into how the company tracked users' locations, state attorneys general announced Monday.
The states' investigation was sparked by a 2018 Associated Press story, which found that Go... Read the Full Story |
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Markets | | |
The Chinese electric vehicle (EV) manufacturer NIO (NYSE: NIO) released its unaudited third-quarter results for 2022 on November 10, which reported mixed developments for the company.
Although NIO recorded record-high vehicle deliveries and significant top-line revenue growth, its net loss swe... Read the Full Story |
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Tuesday's Early Bird Stock Of The Day Neurocrine Biosciences, Inc. discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids. Its product candidates in clinical development include valbenazine to treat dyskinetic cerebral palsy in pediatrics and adults; NBI-921352 to treat developmental and epileptic encephalopathy syndrome in pediatrics and adults; NBI-827104 to treat epileptic encephalopathy with continuous spike-and-wave during sleep; NBI-1076986 to treat movement disorders; crinecerfront to treat congenital adrenal hyperplasia in adults and children; EFMODY to treat congenital adrenal hyperplasia and adrenal insufficiency in adults; valbenazine for the adjunctive treatment of schizophrenia; NBI-1065845 for the treatment of inadequate response to treatment in major depressive disorder; luvadaxistat to treat cognitive impairment related to schizophrenia; NBI-1117568 for the treatment of schizophrenia; NBI-1070770 to treat major depressive disorder; NBI-1117570 for the treatment of symptoms of psychosis and cognition in neurological and neuropsychiatric conditions; and NBI-1117569, NBI-1117567, and NBI-1065890 to treat CNS indications. The company also has license and collaboration agreements with Heptares Therapeutics Limited; Takeda Pharmaceutical Company Limited; Idorsia Pharmaceuticals Ltd; Xenon Pharmaceuticals Inc.; Voyager Therapeutics, Inc.; BIAL Portela & Ca, S.A.; Mitsubishi Tanabe Pharma Corporation; and AbbVie Inc. The company was incorporated in 1992 and is headquartered in San Diego, California. | | View Today's Stock Pick |
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