Good MorningEquities resumed their decline on Tuesday after results from Snap and the New Home Sales data amplified fears of a recession. Snap, a fast-growing social media company, shocked the market with its results and weak outlook while the New Home Sales shows a sharp contraction in housing activity. The contraction in housing activity is directly related to skyrocketing prices and rising interest rates that have many would-be homeowners sitting on the sidelines if not already priced out of the market. If this month's data turns into a trend it could mean a recession is already happening.
Today's big news will be the FOMC minutes. The minutes are expected to shed light on the Fed's stance on inflation and it is hawkish. Inflation is rising at record rates and the Fed's job is taming it. The next data comes out on Friday and may put added pressure on the Fed. If, however, the PCE shows signs of peaking or receding the equity market will probably rally in response. Featured: FREE Ebook - Best Penny Stock Trading Patterns (Millionaire Pub) 
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Stocks | | | With the stock market lacking offensive firepower this year, it has been a good time to be on the defensive—as in defensive sectors.
Soaring oil prices have jettisoned the energy sector to the front of the pack in 2022 but other non-cyclical groups have fared relatively well too. The ut... Read the Full Story |
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Tech | | | Stocks on Wall Street gave up more ground Tuesday amid mounting worries that persistently high inflation will dim corporate profits.
The S&P 500 fell 0.8%, while the Nasdaq dropped 2.3%. The Dow Jones Industrial Average eked out a 0.2% gain, thank's primarily to big gains for McD... Read the Full Story |
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Interest rates are moving higher yet remain historically low.
Persistent inflation and Fed action pushed the 10-year Treasury note yield above 3% earlier this month before it settled back down to the current 2.8%. Going way back to 1912, the benchmark 10-year has averaged just over 5%. ... Read the Full Story |
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Markets | | | The Japanese yen has weakened, trading in recent weeks at 20-year lows of 130 yen to the U.S. dollar just when prices of oil and other goods are surging partly due to the war in Ukraine.
The yen's value against the U.S. dollar and other currencies has fallen mainly because interest r... Read the Full Story |
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Politics | | | Massachusetts’ highest court has rejected a bid by ExxonMobil to dismiss a lawsuit brought by the state that accuses the oil giant of misleading the public about the role its products play in causing climate change Read the Full Story |
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Tech | | | A joint venture between Stellantis and Samsung plans to build an electric vehicle battery factory in Indiana that will employ up to 1,400 workers and become the company’s second such factory in North America Read the Full Story |
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Politics | | | A class action lawsuit is accusing three automakers and a parts manufacturer of knowingly selling vehicles containing air bag inflators that are at risk of exploding. Two deaths and at least four injuries have been linked to such explosions.
The federal lawsuit, filed Tuesday in San F... Read the Full Story |
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Stocks | | | Retail, especially apparel, is one of the hardest sectors to invest in because it can be, in many cases, among the hardest industries to profit in and that is increasingly true in the post-pandemic environment. While Abercrombie & Fitch (NYSE: ANF) has the brand recognition it needs to succeed, it doesn’t resonate with customers the way Ralph Lauren (NYSE: RL) does and there is a bigger problem. Read the Full Story |
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Next-generation Autotech semiconductor and software solutions provider Indie Semiconductor (NASDAQ: INDI) stock has fallen over (-60%) off its highs during the tech bear market. The Autotech winner continues to build a strong backlog transcending $2.68 billion. The global supply chain disruption l... Read the Full Story |
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Gym operator Planet Fitness (NASDAQ: PLNT) stock is in its own bear market trading down (-29%) for the year. The epicenter fitness gym industry has seen a rebound in business with the acceleration of COVID vaccines and boosters. Planet Fitness members grew to all-time highs of 16.21 million member... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day Brookfield Infrastructure Corporation, together with its subsidiaries, owns and operates regulated natural gas transmission systems in Brazil. The company also engages in the regulated gas and electricity distribution operations in the United Kingdom; and electricity transmission and distribution, as well as gas distribution in Australia. It operates approximately 2,000 kilometers of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; 4.3 million gas and electricity connections; and a global fleet of approximately 7 million twenty-foot equivalent units (TEUs) intermodal containers under long-term contracts. The company was incorporated in 2019 and is headquartered in New York, New York. Brookfield Infrastructure Corporation operates as a subsidiary of Brookfield Infrastructure Partners L.P. | | View Today's Stock Pick |
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