Good MorningEquity markets retreat on Thursday as fears of slowing earnings and recession took hold of the market again. The fear was driven by a rebound in the 10-year Treasury yield and weaker-than-expected results from a number of retailers. While the Q3 period was generally better than expected, the outlook for Q4 and 2023 has dimmed and brought the consensus figures for the entire S&P 500 down with them.
Economic data added to the doom and gloom on Wall Street. The Philly Fed's MBOS came in at -19 and much weaker than expected showing a deep contraction within one of the Northeast's busiest manufacturing centers. When added to the bulk of data the Philly Fed news points to a worsening outlook for 2023 and one that could bring a sustained economic contraction for the US and the S&P 500. Featured: Volatility Is Rising—But These 2 AI Stocks Could Thrive (Ad) 
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Markets | | | Share buybacks, capacity expansion, acquisition plans, and semiconductor trade skirmishes all factor into the recent uptrend in Netherlands-based chip gear maker ASML (NASDAQ: ASML).
Shares soared 17.82% in the past week and 52.41% in the past month, and are currently trading 24% above their ... Read the Full Story |
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Politics | | | Stocks fell on Wall Street and Treasury yields rose after more indications from the Federal Reserve that it may need to raise interest rates much higher than many people expect to get inflation under control Read the Full Story |
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Markets | | |
Advance Auto Parts (NYSE:AAP) is down more than 15% after missing badly on the bottom line in its third-quarter earnings report. The company’s revenue of $2.64 billion came in roughly in-line with expectations. But on the bottom line, analysts were expecting $3.40 of earnings per share (EPS)... Read the Full Story |
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Politics | | | General Motors says it expects its portfolio of electric vehicles to turn a profit in North America by 2025 as it boosts battery and assembly plant capacity to build over 1 million EVs per year.
CEO Mary Barra used the pledge to kick off the company’s investor day event Thursday in Ne... Read the Full Story |
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Markets | | | Results from Macy's, Kohl's and Gap on Thursday further underscored the cloudy picture for U.S. retailers heading into the start of the holiday season.
A day after Target reported a sharp drop in quarterly profits, it's clear that inflation-hit shoppers in the last few weeks were wait... Read the Full Story |
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Markets | | |
Investors, traders and short-sellers interested in the next major catalyst for Mullen Automotive (NASDAQ: MULN) stock should circle December 23rd, 2022 on their calendars. On that day the company will vote on a number of major proposals that have great bearing on its future. Among them are a rever... Read the Full Story |
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Markets | | | In early November, Hays Culbreth’s mother sent a poll to a few family members. She said she could only afford to make two sides for their group of 15 this Thanksgiving and asked them each to vote for their favorites.
Culbreth guesses green beans and macaroni and cheese will make the c... Read the Full Story |
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Markets | | | Macy's profit and sales slid in the third quarter as the department store had to step up discounts amid a pullback from shoppers stung by inflation.
Yet, the New York company topped Wall Street expectations and raised its earnings outlook, in part due to better credit card revenue. S... Read the Full Story |
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Markets | | | Verra Mobility (NASDAQ: VRRM) is a smart mobility technology solutions company that operates three segments: Government Solutions, Commercial & Fleet Services, and Parking Solutions. Government Solutions services the dreaded photo enforcement cameras for running red lights, speeding, and school ... Read the Full Story |
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Markets | | | It’s always darkest before the dawn, and so it might well have been for shareholders of NVIDIA (NASDAQ: NVDA) in the middle of last month. They had had to watch the stock drop all year, almost 70%, from the all-time high they tagged this time last year. And crucially, shares were after droppin... Read the Full Story |
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Friday's Early Bird Stock Of The Day Corsair Gaming, Inc., together with its subsidiaries, designs, develops, markets, and sells gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. It offers gamer and creator peripherals, including gaming keyboards, mice, headsets, controllers, and streaming products, such as capture cards, stream decks, microphones and audio interfaces, facecam streaming cameras, studio accessories, gaming furniture, and other related products. The company also provides gaming components and systems comprising power supply units, cooling solutions, computer cases, and DRAM modules, as well as prebuilt and custom-built gaming PCs and laptops, gaming monitors, and others; and PC gaming software comprising iCUE for gamers and Elgato streaming suite for content creators, as well as digital services. It sells its products through e-retail, retail, and direct-to-consumer channels and distributors. Corsair Gaming, Inc. was formerly known as Corsair Components (Cayman) Ltd and changed its name to Corsair Gaming, Inc in August 2017. The company was incorporated in 1994 and is headquartered in Milpitas, California. | | View Today's Stock Pick |
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