Good MorningEquity markets tread water on Thursday following a cooler-than-expected read on inflation. The October PCE price index came in at 0.2% for the month, cooler than the 0.3% expected and down from the previous month's 0.5%. The news, while good, is dubious in nature because YOY inflation is still running at a greater than 5.0% pace. At this level, the market should expect the pace of interest rate hikes to remain high if not at the 75 basis point clip it has been rising.
Friday's market will be driven by the NFP report. The NFP is expected to show a slowdown in hiring but the key data will be the wage gains. If wages continue to rise at the 5.0% pace they have set investors should expect core PCE prices to continue rising at an above 2.0% pace well into 2023 and cut deeply into S&P 500 earnings. Featured: I interviewed 600 crypto millionaires – here's what's coming (Ad) 
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Politics | | | Shares retreated in Asia on Friday after a mixed day on Wall Street as optimism over signs the Federal Reserve may temper its aggressive interest rate hikes was replaced by worries the economy might be headed for a recession.
A U.S. measure of inflation that’s closely watched by the F... Read the Full Story |
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From Our PartnersJeff Brown, the tech legend who picked shares of Nvidia in 2016 before they jumped by more than 22,000%...
Just did a demo of what Nvidia’s CEO said will be "the first multitrillion-dollar robotics industry." | | | Click here to watch the demo… |
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Markets | | |
La-Z-Boy (NYSE: LZB) shares are reclining into a more comfortable price range following the Q2 earnings release and guidance but this is an opportunity for investors. The decline in share prices is driven by a cautious outlook for the 3rd quarter that does little to offset the value, quality or yi... Read the Full Story |
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Politics | | | A day of wobbly trading on Wall Street ended Thursday with a mixed finish for stocks and bond yields broadly lower after the government reported that a measure of inflation that’s closely watched by the Federal Reserve eased in October.
The muted action came as traders looked ahead to... Read the Full Story |
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Politics | | | When the government issues the November jobs report on Friday, it could provide clarity on whether hiring and pay growth are gradually cooling — a trend that the Federal Reserve sees as vital in its fight against high inflation Read the Full Story |
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Markets | | | Tech billionaire Elon Musk said his Neuralink company is seeking permission to test its brain implant in people soon.
In a “show and tell” presentation livestreamed Wednesday night, Musk said his team is in the process of asking U.S. regulators to allow them to test ... Read the Full Story |
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From Our PartnersWhat If Washington Declared That:
YOUR Money ISN'T Actually Yours?
Sounds insane, but that's exactly what the Department of Justice just admitted in court—claiming cash isn't legally your property.
What does that mean? It means Washington thinks they can seize, freeze, or drain your accounts—whenever they want. | | | Get your free guide now by clicking here >> |
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Markets | | | Austan Goolsbee, who was a top economic adviser to President Barack Obama, has been chosen as the next president of the Federal Reserve Bank of Chicago, the regional Fed bank announced Thursday.
Goolsbee, 53, an economics professor at the University of Chicago who is a frequent comme... Read the Full Story |
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Markets | | |
Although EV startups such as NIO (NYSE: NIO) and Mullen Automotive (NASDAQ: MULN) are grabbing attention, along with 800-pound gorilla Tesla (NASDAQ: TSLA), long-established automakers such as Ford (NYSE: F) and General Motors (NYSE: GM) are quickly ramping up EV production and marketing... Read the Full Story |
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Markets | | | A pause in student loan repayments and the crypto meltdown are among the problems affecting lender SoFi (NASDAQ: SOFI).
But shares rallied along with the broader market Wednesday. Could it be that the bottom is in?
The online banking company went public with great fanfare in June 2021,... Read the Full Story |
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Markets | | | Sometimes there’s a lot to be said for just reading the tape. Back in the day, investors didn’t have access to breaking news, or even old news like we do today, but they still made money by looking at a stock’s chart and forming an educated opinion. Looking at Apple (NASDAQ: AAPL),... Read the Full Story |
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Markets | | | To say the short sellers were wrong about Mullen Automotive (NASDAQ: MULN) would be ludicrous. With the stock down 95% in the last year alone, it is obvious the short sellers were very, very right about Mullen Automotive stock.
Are they right now? The company has issued many positive news rel... Read the Full Story |
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Friday's Early Bird Stock Of The Day Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity. It also provides oncology products, including Alimta, Cyramza, Erbitux, Jaypirca, Retevmo, Tyvyt, and Verzenio. In addition, the company offers Olumiant for rheumatoid arthritis, atopic dermatitis, severe alopecia areata, and COVID-19; Taltz for plaque psoriasis, psoriatic arthritis, ankylosing spondylitis, and non-radiographic axial spondylarthritis; Omvoh for ulcerative colitis; Cymbalta for depressive disorder, diabetic peripheral neuropathic pain, generalized anxiety disorder, fibromyalgia, and chronic musculoskeletal pain; Ebglyss for severe atopic dermatitis; and Emgality for migraine prevention and episodic cluster headache. Further, it provides Cialis for erectile dysfunction and benign prostatic hyperplasia; and Forteo for osteoporosis. It has collaborations with Incyte Corporation; Boehringer Ingelheim Pharmaceuticals, Inc.; F. Hoffmann-La Roche Ltd and Genentech, Inc.; Biologics, Inc., AbCellera Biologics Inc.; and Chugai Pharmaceutical Co., Ltd. The company was founded in 1876 and is headquartered in Indianapolis, Indiana. | | View Today's Stock Pick |
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