Good MorningEquity markets tread water on Wednesday ahead of the PPI report on Friday. The report could reinvigorate fear of inflation and the FOMC and spark another decline in the stock market. The S&P 500 is sitting on key support in the form of the 30-day EMA, a move below that could bring on more selling and drive the index down to the October lows.
The PPI report is not expected to show a decline in inflation and that is bad news. At current levels, PPI is supporting consumer-level inflation and may force the FOMC to hike rates by another 75 basis points at the meeting next week. As it is, the CME FedWatch Tool is pricing in a 75% chance the next hike will only be 50 basis points which is bad enough for the economy by itself. Featured: Trump Knows Exactly What He's Doing (Ad) 
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At MarketBeat, we do our best to deliver information about the stocks and stories that are moving the market. But we also want to make sure we give you information about the stocks that you care about the most – because those are the ones that are most likely to be in your portfolio.
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Stocks | | | Wall Street ended a wobbly day of trading with more losses Wednesday, as a slide in technology companies helped pull stocks lower and Treasury yields fell broadly.
The S&P 500 slipped 0.2%, its fifth straight loss. The Nasdaq composite, which is heavily weighted with tech stocks,... Read the Full Story |
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In 1857, John Henry Hopkins Jr. wrote “Three Kings of Orient,” the popular Christmas carol more commonly known today as “We Three Kings.” Based on the Biblical Magi who bore gold, frankincense, and myrrh, the song is about the importance of sacrifice — and belie... Read the Full Story |
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Stocks | | | Stocks edged lower on Wall Street in afternoon trading Wednesday, keeping major indexes on track to extend their recent losing streak into a fifth day.
The S&P 500 fell 0.2% as of 2:29 p.m. Eastern. The Dow Jones Industrial Average fell 10 points, or less than 0.1%, to 33,585 and ... Read the Full Story |
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Carvana Co. (NASDAQ: CVNA) shares are down nearly 66% since the beginning of the week on concerns that the company may be headed for bankruptcy. In fact, CVNA stock took a luld (limit up limit down) pause on the morning of December 7.
This came after Bloomberg reported that several of Carv... Read the Full Story |
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Shares of Spotify Technology SA (NYSE: SPOT) were rebounding Wednesday after declining 4.02% Tuesday.
The stock’s price has held above its November 4 low of $69.29. Does that mean we’ve heard the last of its downtrend?
Spotify attempted a rally in the summer, roughly in tandem ... Read the Full Story |
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Markets | | | Japan’s economy contracted less than previously thought in the last quarter, weathering the country's latest big COVID wave with less damage than had been thought.
The Cabinet Office reported Thursday that the economy shrank at a 0.8% annual rate in July-September. That was better th... Read the Full Story |
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Markets | | | Southwest Airlines said Wednesday that it is bringing back dividends for shareholders, which it suspended when the pandemic devastated the airline business in early 2020.
Dallas-based Southwest said in a regulatory filing that it will pay a quarterly dividend of 18 cents per share on ... Read the Full Story |
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Markets | | | Italian confectioner Ferrero said Wednesday it is acquiring Wells Enterprises, one of the largest U.S. ice cream makers, in a deal that will broaden both companies’ offerings.
Wells, a 100-year-old family-owned company based in Le Mars, Iowa, makes Blue Bunny, Halo Top and other brand... Read the Full Story |
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The question of a Fed pivot isn’t if, it’s when because the FOMC can’t continue to hike rates indefinitely. In that scenario, economic activity would grind to a halt and recede, GDP would shrink and the global world order would collapse. No, the FOMC’s mission is to maintai... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Poseida Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on developing therapeutics for patients with high unmet medical needs. The company's development candidates for Heme Malignancies includes P-BCMA-ALLO1, which is in Phase I trial to treat patients with relapsed/refractory multiple myeloma; P-CD19CD20-ALLO1, which is in Phase I trial for treating B cell malignancies and other autoimmune diseases; P-BCMACD19-ALLO1, an allogeneic, off-the-shelf CAR-T product candidate in preclinical development for treating multiple myeloma; and P-CD70-ALLO1 under preclinical development to treat hematological indications. It is also involved in the development of P-MUC1C-ALLO1 that is in Phase I trial for treating a range of solid tumors, including breast, colorectal, lung, ovarian, pancreatic, and renal cancers; P-PSMA-ALLO1, an autologous chimeric antigen receptor T cell (CAR-T) product candidate that is in preclinical development for the treatment of patients with metastatic castrate resistant prostate cancer (mCRPC); and P-PSMA-101, an allogeneic CAR-T product candidate under Phase 1 clinical trial for treating mCRPC. In addition, the company engages in the development of P-FVIII-101, a clinical stage liver-directed gene therapy for the in vivo treatment of hemophilia A; P-OTC-101, a clinical stage liver-directed gene therapy for the in vivo treatment of ornithine transcarbamylase deficiency; and P-PAH-101, a clinical stage liver-directed gene therapy for the in vivo treatment of phenylketonuria. It has a research collaboration and license agreement with F. Hoffmann-La Roche Ltd, and Hoffmann-La Roche Inc. The company was incorporated in 2014 and is headquartered in San Diego, California. | | View Today's Stock Pick |
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