Good MorningEquity markets got a dose of good news on Wednesday when the FOMC hiked interest rates by 50 basis points. The increase was expected and came with a tame outlook compared to what the market was fearing. Fed Chief Jerome Powell indicated an aggressive 75 basis point increase was off the table for now and that a series of 50 basis point hikes should be expected. The risk for the market now is that inflation will continue to rise despite the onset of interest rate hikes and force the FOMC to up its game once again. If history is any indication, the Fed will have to spark a recession to get inflation under control.
The S&P 500 surged more than 3.0% on the news confirming support at the key 4200 level. So long as this level continues to show support the index will remain range-bound or possibly move to a new high. While there are many risks ahead, the outlook for the 2nd half continues to expect supply chain improvements that should drive revenue and earnings for the S&P 500. Featured: Elon’s BIGGEST warning yet? (Ad) 
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Politics | | | OPEC and allied oil-producing countries, including Russia, are weighing conflicting forces Thursday as they decide how much crude should flow to volatile global markets. Europe's proposal to phase out Russian oil and other Western sanctions are choking back supply, while COVID-19 shutdowns in China ... Read the Full Story |
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Stocks | | |
If you thought ride-hailing app Uber (NYSE: UBER) was going to deliver the stock market from the horrendous start to the years it's had, think again. The likes of Apple (NASDAQ: AAPL) and Microsoft (NASDAQ: MSFT), who both reported solid numbers last week, were unable to stem the flow of selling, ... Read the Full Story |
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Politics | | | Stocks soared to their biggest gain in two years Wednesday and bond yields dropped after Federal Reserve Chair Jerome Powell downplayed the likelihood of an even larger rate increase than the one just announced Wednesday Read the Full Story |
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Politics | | | The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark interest rate by a half-percentage point — its most aggressive move since 2000 — and signaling further large rate hikes to come Read the Full Story |
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Politics | | | Energy giant Shell reported record first-quarter earnings after a surge in oil prices, fueling calls for the British government to impose a tax on energy companies’ windfall earnings to help consumers struggling with the soaring cost of living.
London-based Shell said adjusted earning... Read the Full Story |
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Markets | | | Airbus said Wednesday that its profit in the first three months of 2022 more than tripled to 1.22 billion euros ($1.28 billion), helped by an increase in aircraft deliveries as airlines recover from the worst of the pandemic.
Airbus said it plans to speed up production of its A320 fam... Read the Full Story |
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Tech | | | Shares of iRobot (NASDAQ: IRBT) have been in a steady downtrend for the last several quarters due to the mounting issues of supply chain hurdles and inflationary pressures. The biggest risk for the company and the global economy was the Fed and the Fed gave the market what it wanted, an outlook for soft-landing. Read the Full Story |
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Markets | | | Sports entertainment and media company World Wrestling Entertainment (NYSE: WWE) stock has maintained a choppy range between $45 to $65 for over a year. The iconic wrestling brand survived the stay-at-home mandates to usher in the return of live events. Top and bottom lines were bolstered by its med... Read the Full Story |
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Markets | | | Weyco Group (NASDAQ: WEYS) caught our eye a few years ago while screening for small-cap dividend growth stocks. The company owns a healthy portfolio of legacy and growth-oriented shoe brands and pays what we consider to be an above-average distribution in both yield and safety. Read the Full Story |
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Markets | | | Internet content delivery network (CDN) provider Limelight Networks (NASDAQ: LLNW) shares plunged on its fiscal Q1 2022 earnings results. Despite have 19 of its top 20 customers achieving more than 20% revenue growth, sentiment turned negative with the falling benchmark indices. Customer additions h... Read the Full Story |
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Thursday's Early Bird Stock Of The Day CalAmp Corp., a connected intelligence company, provides leverages a data-driven solutions ecosystem to people and organizations in the United States, Europe, the Middle East, Africa, Latin America, the Asia-Pacific, and internationally. The company operates in two segments, Software & Subscription Services and Telematics Products. It provides CalAmp Telematics Cloud platform, such as cloud-based application enablement and telematics service platforms that facilitate integration of its own applications, as well as those of third parties, through open application programming interfaces; and software as a service application, as well as provides tracking and monitoring services within fleet management, supply chain integrity, and international vehicle location. The company also offers telematics products, including asset tracking units, mobile telematics devices, fixed and mobile wireless gateways, and routers; and advanced telematics products for the broader connected vehicle and Internet of Things marketplace, which enable customers to optimize their operations by collecting, monitoring, and reporting business-critical information and desired intelligence from remote and mobile assets. In addition, it offers professional services, including project management, engineering services, and installation services. The company sells its products and services to customers in the automotive, telecommunications, industrial equipment, transportation and logistics, government and municipalities, insurance, original equipment manufacturers, and leasing companies. It markets through direct sales organization, channel partner program, original equipment manufacturers, and independent sales representatives and distributors, as well as its websites and digital platform. The company was incorporated in 1981 and is headquartered in Irvine, California. | | View Today's Stock Pick |
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