Good MorningEquities rebounded strongly on Thursday despite a much weaker than expected GDP figure. The first read on Q1 2022 GDP came in at -1.4% versus the expected gain of 1.0%. The news was largely shrugged off by the market but it is not a data point to be complacent about. With the economy already contracting versus last year there is a real chance the FOMC could and will throw the U.S. economy into a recession when it begins raising rates.
The question that needs to be answered is if it will be a hard or soft landing and the evidence is mounting for a hard landing. The real risk for the market is today's read on the PCE price index. If PCE prices continue to rise at the pace they have been or hotter the Fed will have no choice but to act quickly and aggressively to fight inflation and we don't think the market is pricing that into stocks yet. Featured: Introducing: The “Market Wizard Protégé Program” (Ad) 
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Markets | | | World stocks advanced Friday after Chinese leaders pledged to do more to support the slowing economy as the country weathers its worst outbreaks of COVID-19 since the pandemic began.
Germany's DAX gained 1% to 14,120.47 while the CAC 40 in Paris added 0.9% to 6,567.01. Britain's FTSE ... Read the Full Story |
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Politics | | | The U.S. economy shrank last quarter for the first time since the pandemic recession struck two years ago, contracting at a 1.4% annual rate, but consumers and businesses kept spending in a sign of economic durability Read the Full Story |
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Politics | | | KYIV, Ukraine — Ukraine’s prosecutor on Thursday identified 10 Russian soldiers she accused of atrocities in the Kyiv suburb of Bucha, one of the war’s major flashpoints that helped galvanize Western support of Ukraine.
Prosecutor General Iryna Venediktova said on Facebook that the 10... Read the Full Story |
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From Our Partners | | What happens when you hand your best friend $1,000 and make him place his first real trade?
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Markets | | | California’s attorney general has subpoenaed ExxonMobil as part of what he called a first-of-its-kind investigation into the petroleum industry for its alleged role in causing a global plastic pollution crisis Read the Full Story |
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Politics | | | Cutting off natural gas to Poland and Bulgaria cost Russian President Vladimir Putin very little — but it is adding stress on European countries wrestling with how to reduce the energy imports feeding the Kremlin's war chest and how to keep a united front on the war in Ukraine.
Europ... Read the Full Story |
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Tech | | | You could almost hear the collective sigh of relief after Apple (NASDAQ: AAPL) released its latest earnings report at the end of yesterday’s session. Investors have already found solace this week with solid results from Microsoft (NASDAQ: MSFT) and Facebook (NASDAQ: FB) helping to at least slo... Read the Full Story |
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Markets | | | Canadian communications and media giant Rogers Communication (NYSE: RCI) stock made new all-time highs at $64.55 before pulling back down despite the relative weakness in benchmark indices. The broadband provider is seeking to complete and integrate its buyout of Shaw Communications, which it acquir... Read the Full Story |
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Markets | | | Shares of O’Reilly Automotive (NASDAQ: ORLY) tanked after the company released its Q1 earnings but some are welcoming the news. Analysts Michael Lasser of UBS urged the company’s client to use the pullback as a buying opportunity due to the strength of industry trends. Read the Full Story |
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Markets | | | Global satellite communications provider Iridium (NASDAQ: IRDM) stock recently took a nosedive from the selling in benchmark indices. The provider of satellite-based broadband caters to industries ranging from aviation, transport, logistics, emergency, maritime, energy, and government. Commercial se... Read the Full Story |
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Markets | | | Ford (NYSE: F) had a good quarter despite the impact of supply chain constraints. The company reported a YOY decline in revenue that was less than expected and comes with what we consider very good news. The company reports significant supply chain improvement in March that is in line with the general expectation things will get better in the second half. Read the Full Story |
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Friday's Early Bird Stock Of The Day Inozyme Pharma, Inc., a clinical-stage rare disease biopharmaceutical company, focuses on developing novel therapeutics for the treatment of vasculature, soft tissue, and skeleton diseases. The company's lead product candidate is INZ-701, a soluble, recombinant, genetically engineered, and fusion protein for the treatment of ENPP1 and ABCC6 deficiencies, as well as patients with end-stage kidney disease receiving hemodialysis. It has a license agreement with Yale University for specified therapeutic and prophylactic products. The company was incorporated in 2015 and is headquartered in Boston, Massachusetts. | | View Today's Stock Pick |
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