Good MorningEquity markets got what they wanted from the Fed but it was a two-edged sword that left the S&P 500 more than 2.5% at the end of the day Wednesday. The FOMC raised rates by 765 basis points as generally expected and gave a policy statement that sounded dovish at first read. The takeaway from the statement, however, is the FOMC is prepared to keep hiking rates at the current 75 basis point clip or near-to until the data changes and the data is not good.
Not only was the latest PCE price index hotter than expected and accelerating but this week's labor data suggest economic activity isn't slowing appreciably. The ADP report came in hotter than expected and included a 7.7% increase in wages that is underpinning inflation. Add to that another upswing in oil prices and it looks like the FOMC will hit its 4.5% to 4.75% core interest rate sooner rather than later. And the S&P 500? It's still in a downtrend and heading down to retest its lows. Featured: INVESTOR ALERT: Tiny “$3 AI Wonder Stock” on the Verge of Blasting Off (Ad) 
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Over the past month, the share value of Apple Inc. stock (NASDAQ: AAPL) has risen nearly 10%, currently at $150.06 per share. This value sits near the median of not only the most recent 12-month price target range ($122.00 to $200.00) but also the stock's overall 52-week range ($129.04 to $182.94)... Read the Full Story |
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TravelCenters of America (NASDAQ: TA) stood out the day after the company reported earnings. But not in the way investors would like. TA stock fell over 20% after the company delivered a mixed earnings report. The company beat on revenue but came in light on earnings estimates.
We&rsq... Read the Full Story |
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Markets | | | Oil-and-gas explorer Devon Energy (NYSE: DVN) was trading lower Wednesday after reporting third-quarter results after Tuesday’s closing bell.
The Oklahoma-based company beat top- and bottom-line views, but investors gave a thumbs down to Devon’s plan to slash its dividend by 13%.
... Read the Full Story |
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Politics | | | Stocks fell sharply after Federal Reserve Chair Jerome Powell signaled that interest rates may need to go even higher than previously thought in order to tame the worst inflation in decades.
The Fed raised its benchmark rate by three-quarters of a percentage point Wednesday, its four... Read the Full Story |
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Politics | | | Stocks fell sharply after Federal Reserve Chair Jerome Powell signaled that interest rates will need to go even higher than previously thought in order to tame the worst inflation in decades.
The Fed also raised its benchmark rate by three-quarters of a percentage point Wednesday, it... Read the Full Story |
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While the company started the year off with a big earnings drop from Q4 2021, Paypal Holdings Inc (NASDAQ: PYPL), has already begun to claw its way back. And even with the rocky start they had, the digital payment systems provider is on track to continue an impressive earnings climb over the past ... Read the Full Story |
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Chesapeake Energy (NASDAQ:CHK) is one of the latest oil and gas companies to deliver strong earnings. On the heels of reports from “big oil” companies such as Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVK), Chesapeake showed that the little guys are getting a piece of the action as well... Read the Full Story |
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Politics | | | The Federal Reserve pumped up its benchmark interest rate by three-quarters of a point for a fourth straight time to fight high inflation but also hinted that it could soon reduce the size of its rate hikes Read the Full Story |
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Politics | | | Boeing officials vowed Wednesday to significantly increase airplane production and cash flow in the next few years as the company seeks to recover from two deadly crashes and years of mistakes in its airline and defense businesses.
Boeing said it expects to boost revenue to $100 billi... Read the Full Story |
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Politics | | | The two largest U.S. pharmacy chains, CVS Health and Walgreen Co., announced agreements in principle Wednesday to pay about $5 billion each to settle lawsuits nationwide over the toll of opioids, and a lawyer said Walmart, a third pharmacy behemoth, is in discussions for a deal.
The p... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Aileron Therapeutics, Inc., a biopharmaceutical company, focuses on developing medicines to address unmet medical needs in orphan pulmonary and fibrosis indications in the United States. The company's lead product candidate is LTI-03, a peptide, which is in Phase 1b clinical trial for the treatment of idiopathic pulmonary fibrosis (IPF). Its second product candidate is LTI-01, a proenzyme that has completed Phase 1b and Phase 2a clinical trials in LPE patients for the treatment of loculated pleural effusion. The company's pipeline also includes preclinical programs targeting cystic fibrosis and a peptide program focused on the caveolin-1 protein for systemic fibrosis indications. The company was formerly known as Renegade Therapeutics, Inc. and changed its name to Aileron Therapeutics, Inc. in February 2007. Aileron Therapeutics, Inc. was incorporated in 2001 and is headquartered in Austin, Texas. | | View Today's Stock Pick |
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