Good MorningEquities closed the week higher but on shaky footing following a pivot from the FOMC. Fed Chief Jerome Powell indicated the committee could slow the pace of interest rate hikes as soon as the next meeting which was what the market wanted to hear. The bad news is that inflation, labor and wage data does not support the idea that inflation is under control or that the Fed can ease off on its policy. While the committee may slow to a 50 basis point pace it should also be expected to continue hiking at that pace until inflation is indeed at 2.0%.
This week could be dicey for traders due to a lack of data on both economics and earnings. There are few notable reports due out but they are interesting on an individual basis only and unlikely to alter the big picture in any way. The takeaway is that conditions are still changing an not for the better. While labor markets remain strong and underpinned by rising wages the impact on consumer spending is getting worse at the same time. The risk is that, at some point, the scale will tip and consumer spending will contract in a meaningful way and bring the economy down with it. Featured: The single best 10% yield in the market? (Oxford Club) 
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After releasing an earnings report that beat analyst estimates, Okta Inc (NASDAQ: OKTA) share value shot up significantly. While not all the data was impressive, share volume still cranked up to 20.30 million—more than six times the OTKA average daily volume—to help boost the value fro... Read the Full Story >> |
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Markets | | | ZIM Integrated Shipping Services (NYSE: ZIM) offers an example of what’s befallen the once red-hot shipping industry in the past six months. The Israel-based company’s stock is down 33.58% in the past three months and down 17.48% year-to-date.
Its wider industry has suffered a similar f... Read the Full Story >> |
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Markets | | | Approaching the final week of November CSL Ltd ADR (OTCMKTS: CSLLY) received some good news as the United States Food and Drug Administration approved CSL Behring's new gene therapy drug, HEMEGENIX (etranacogene dezaparvovec-drib) for treating hemophilia B. The news helped continue the stock's upwar... Read the Full Story >> |
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Markets | | | World shares are mixed and oil prices have risen after the European Union and the Group of Seven agreed on a boycott of most Russian oil and committed to a price cap of $60 per barrel on Russian exports Read the Full Story >> |
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Markets | | | U.S. semiconductor producer Intel (NASDAQ: INTC) stock is trading at price levels not seen since 2016. While shares rallied after a strong earnings report, the guidance was exceptionally weak, but shares have managed to grind higher despite the warnings. The markets may have finally started to belie... Read the Full Story >> |
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Politics | | | Asian shares are mostly higher and oil prices also have risen after the European Union and the Group of Seven agreed on a boycott of most Russian oil and a price cap of $60 per barrel on Russian exports Read the Full Story >> |
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Politics | | | India will prioritize its own energy needs and continue to buy oil from Russia, its foreign minister signaled Monday, as Western governments press Moscow with a price cap to squeeze its earnings from oil exports.
Minister of External Affairs Subrahmanyam Jaishankar made the comments a... Read the Full Story >> |
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Markets | | | Customer relationship management software giant Salesforce (NASDAQ: CRM) shares tanked (-10%) on a bullish Q3 2022 earnings report but Q4 guidance was mixed. The Company beat analyst expectations as shares initially popped but then sank upon the announcement that Salesforce Co-CEO Bret Taylor would ... Read the Full Story >> |
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Markets | | | Revelations that a key prosecution witness may have been manipulated into changing his story and cooperating with prosecutors has jolted a Vatican trial over a money-losing investment in a London property Read the Full Story >> |
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Politics | | | Furious about oil companies' supersized profits after a summer of record-high gas prices, California Gov. Gavin Newsom on Monday will formally start his campaign to punish big producers by asking the Legislature to fine them and give the money back to drivers.
State lawmakers will bri... Read the Full Story >> |
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The Early Bird Stock Of The DayMonday: Stock Being Downgraded NetApp, Inc. provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud data services, including NetApp Cloud Volumes Service for AWS, NetApp Cloud Volumes ONTAP, NetApp Cloud Sync, NetApp Cloud Secure, NetApp Cloud Tiering, NetApp SaaS Backup, NetApp Kubernetes Service, and NetApp Cloud Insights. It also provides cloud infrastructure solutions, such as FlexPod, a portfolio of pre-validated designs and integration, NetApp HCI for public cloud consumption experience, and NetApp StorageGRID, a software-defined object-based storage solution. The company also offers storage systems and software, including all-flash arrays that support data management, hybrid arrays to deploy the speed of flash storage, the NetApp ONTAP storage operating system, NetApp ONTAP Select, which offers robust enterprise storage services, NetApp MAX Data, NetApp FlexArray storage virtualization software, NetApp OnCommand API Services, NetApp Active IQ software, NetApp data availability services, NetApp SnapCenter backup management software, NetApp SnapMirror data replication software, NetApp MetroCluster business continuity so | | View Today's Stock Pick |
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