Good MorningEquity markets pulled back on Tuesday as traders brace for the FOMC meeting and policy statement on Wednesday. The FOMC is expected to raise rates by 75 basis points and there is hope they will tone down their stance although there is risk in that outlook. The latest PCE price index showed inflation was still accelerating which is no reason for the Fed to slow the pace of interest rate hikes. At best, the FOMC will hike by 75 basis points and maintain its current outlook.
Also on tap this week is the NFP report. The NFP is expected to come in near 200,000 which would be a dramatic slowdown from the pace of late. In this scenario, the FOMC may be allowed to slow the pace of hikes at the upcoming meeting but more data is needed. The next big inflation report is due out in two weeks with the CPI and it could be news to move the market. Featured: Little-Known Microcap Enters the Prediction Markets Boom (Ad) 
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Consumer Staples | |
When Nomad Foods Limited (NYSE: NOMD) fell to a five-year low last week, investors decided enough was enough.
Buyers began nibbling on the U.K.-based company ahead of its preliminary financial results release on Halloween day. The timing of the bottom-feeding looks scary good with the stock now u... Read the Full Story |
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From Our Partners | | Barrick Mining has spent decades building one of Nevada's richest gold districts, anchored by Fourmile, Goldrush, and Cortez Hills, deposits that could hold up to 60 million ounces of gold.
One overlooked explorer controls 142 claims bordering Fourmile and sitting less than a mile from Goldrush. New geological modeling aims to reveal what's beneath this largely untested ground, while a planned 5% royalty spin-off could give shareholders a separate stake in the project. | | Read the full report before the next catalyst hits |
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Consumer Discretionary | |
Big 5 Sporting Goods (NASDAQ: BGFV) stock fell over 8% the day after it reported third-quarter earnings. And that brings the 12-month loss for BGFV stock to over 56 percent. This drop comes even though the sporting goods retailer delivered a solid earnings report. In fact, the company beat on both... Read the Full Story |
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Communication Services | |
In June 2020, Warner Music Group Corp. (NASDAQ:WMG) made some noise when it announced its arrival as a publicly traded music player. Press the fast-forward button and two years later, the company’s stock dipped below IPO levels.
As the music industry conglomerate slid into the low-20’... Read the Full Story |
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Industrials | |
Uber (NYSE: UBER), continued to struggle with operational costs despite revenue surging by 72% on the back of strong demand for the rail-hailing company. The stock rallied 15% into the market open on the back of the news. Uber’s main ride-hailing business has strong growth stemming from risi... Read the Full Story |
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Finance | | Shares of online lender SoFi Technologies (NASDAQ: SOFI) were up more than 14% Tuesday following a better-than-expected third-quarter report.
The company lost $0.09 per share on revenue of $424 million.
Those results marked year-over-year increases on both the top and bottom lines. Revenue has g... Read the Full Story |
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Utilities | |
American Water Works Company (NYSE: AWK) stock is up 0.65% after beating the top and bottom lines in its third-quarter earnings report that it delivered on November 1, 2022. The water utility company delivered top-line revenue of $1.08 billion which beat expectations for $1.07 billion. And on the ... Read the Full Story |
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Finance | | Large-cap financial planning and asset management firm Ameriprise Financial (NYSE: AMP) advanced 13.79% in the past week, following a better-than-expected third-quarter report. Higher interest rates were a key growth driver, which has been true for many companies throughout the financial sector.
R... Read the Full Story |
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Consumer Discretionary | |
The institutional activity in the furniture industry stocks has been a little mixed over the past two quarters or so but one thing is clear. The institutions are comfortable with this group and there are many reasons why. Not only do they present value to investors but they offer high yields, and ... Read the Full Story |
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Energy | |
If you are wondering if it's too late to get into energy stocks the best answer is no. Energy prices are down from their peak and there is a potential slowdown in demand on the way but, for now, the underlying fundamentals are highly in favor of higher share prices. Not only are these companies ra... Read the Full Story |
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Industrials | |
The major airline carriers have finally gotten back into the black as the profits roll in for Delta Air Lines (NYSE: DAL), United Airlines (NYSE: UAL), and American Airlines (NYSE: AA). All the majors reported profits that exceeded analyst expectations indicating that the pandemic is in the rearvi... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day Alliance Resource Partners, L.P., a diversified natural resource company, produces and markets coal primarily to utilities and industrial users in the United States. The company operates through four segments: Illinois Basin Coal Operations, Appalachia Coal Operations, Oil & Gas Royalties, and Coal Royalties. It produces a range of thermal and metallurgical coal with sulfur and heat contents. The company operates seven underground mining complexes in Illinois, Indiana, Kentucky, Maryland, Pennsylvania, and West Virginia. In addition, it owns and leases oil and gas mineral interests and equity interests; and leases its coal mineral reserves and resources to its mining complexes; and leases land and operates a coal loading terminal on the Ohio River at Mt. Vernon, Indiana. Further, the company offers various mining technology products and services, including data network, communication and tracking systems, mining proximity detection systems, industrial collision avoidance systems, and data and analytics software. It also exports its products. The company was founded in 1971 and is headquartered in Tulsa, Oklahoma. | | View Today's Stock Pick |
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