Good MorningEquities extended their selloff on Wednesday with the S&P 500 falling more than 1.50% to the lowest level in over a year. The move was driven by a hotter than expected CPI read and took the index firmly below the 4,000 level. The CPI came in at 8.3% YOY or up 0.2% from the previous month putting an end to the idea that inflation had peaked. The next big hurdle for the market will come today in the form of the PPI index. The PPI index is also expected to subside on a month-to-month basis but may come in much hotter than expected.
With inflation on the rise, the FOMC will come under even more pressure to act. Although the Fed has said it won't hike rates by 75 basis points we feel it is on the table now. The risk for the market is not pricing in a recession because it looks like one is on the way.
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Markets | | |
If the company continues to maintain its pricing power, BUD stock may be a shrewd buy
Equities continue to whipsaw back and forth which makes the near-term outlook for buying stocks a little dicey. And calling a bottom or top is always a fool’s errand. In fact, many investors can use ... Read the Full Story >> |
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Politics | | | World shares fell Thursday following the release of U.S. inflation data that was higher than expected.
U.S. futures and oil prices also fell. A pledge by Chinese leaders of more support for the slowing economy appeared to have little impact.
A report from the U.S. La... Read the Full Story >> |
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Markets | | |
There’s no reason to chase these stocks on the way down, but keep an eye on park attendance
Investors expecting any relief from inflation will have to wait a little longer. The Consumer Price Index (CPI) showed inflation slightly lower on a year-over-year basis. However, by any metric... Read the Full Story >> |
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From Our PartnersURGENT: Stocks have been plummeting since Russian’s invasion of Ukraine. The proposed ban of Russian oil could create a historic shock in oil prices and send oil stocks soaring. But do NOT buy Chevron or ExxonMobil. Instead, this small Texas oil stock could make you 100+% if you get in immediately, before the oil crisis escalates. | | Click here for the full details. |
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Markets | | | Wendy’s (NASDAQ: WEN) is still growing but the growth story propelling the stock has come to an end. The company’s Q1 earnings report reveals that not only is revenue growth slowing in the face of a growing store count but inflation continues to cut into the bottom line. Read the Full Story >> |
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Politics | | | MOSCOW — A top Russian official says that there is a growing threat of the fighting in Ukraine spilling into a direct conflict between Russia and NATO.
Dmitry Medvedev, the deputy head of Russia’s Security Council chaired by President Vladimir Putin, said Thursday that growing Western... Read the Full Story >> |
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Politics | | | Russia pounded areas in Ukraine’s east on Thursday, including the last pocket of resistance in besieged Mariupol, as the war pushed Finland closer to ending decades of neutrality and seeking NATO membership.
The conflict on the ground slogged on even as the globe-shaking repercussion... Read the Full Story >> |
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Politics | | | BERLIN — The U.N.'s human rights chief says her office has found that Russian forces and affiliated armed groups are responsible for most civilian deaths during the war in Ukraine.
High Commissioner for Human Rights Michelle Bachelet said the “vast majority” of civilian casualties hav... Read the Full Story >> |
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Tech | | | The name “FIFA” can bring to mind images of the World Cup and soccer’s greatest players, like Pele, Zinedine Zidane or Lionel Messi. The acronym for the sport’s governing body may also remind some of shameless bribery and corruption.
For many, though, it’s the video game that is synon... Read the Full Story >> |
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Tech | | |
Glass and optical technology products producer Corning (NYSE: GLW) stock has been very resilient as it is only down (-1%) versus down (-23%) for the Nasdaq 100 index. The maker of Gorilla Glass, COVID-19 vaccine vials, and glass substrates used for LED displays and optical fiber, is riding a numbe... Read the Full Story >> |
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Markets | | | The shoe business has been good for Wolverine Worldwide (NASDAQ: WWW) and it should continue to be good for the remainder of the year. The company’s business is supported by secular trends that should sustain growth in the high teens this year and into the next and there is margin improvement in the forecast as well. Read the Full Story >> |
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The Early Bird Stock Of The DayThursday: Stock With Recent Earnings Beat iStar Inc. (NYSE: STAR) is focused on reinventing the ground lease sector, unlocking value for real estate owners throughout the country by providing modern, more efficient ground leases on all types of properties. As the founder, investment manager and largest shareholder of Safehold Inc. (NYSE: SAFE), the first publicly traded company to focus on modern ground leases, iStar is helping create a logical new approach to the way real estate is owned, and continues to use its historic strengths in finance and net lease to expand this unique platform. Recognized as a consistent innovator in the real estate markets, iStar specializes in identifying and scaling newly discovered opportunities and has completed more than $40 billion of transactions over the past two decades. | | View Today's Stock Pick |
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