Good MorningThe rebound in equities faltered on Monday and for good reasons. Not only is there a key read on inflation due out at the end of the week but the price of oil is rebounding. The price for WTI gained more than 2.5% at the height of the session to top $111.75 on its way back to the short-term moving average at $113.37. If the market gets above that level we see the price of WTI moving up to retest and possibly set a new all-time high and drive inflation to new levels. In regards to inflation, the PCE price index is due out on Thursday and it is expected to be hot. The core PCE is expected to accelerate a tenth to 0.4% on a month-to-month basis and drive the YOY gain to over 5.0% to put even more pressure on the FOMC to act.
The latest read on the FOMC is that a 75 basis point interest rate hike will come in July and another one is likely in August. This will put rates at 3.0% to 3.25% by the middle of summer versus the end of the year as was predicted just a month ago. If the PCE data is hotter than expected it is likely the FOMC will increases rates at an even more aggressive pace and potentially throw the economy into a lengthy recession. Featured: Everyone’s watching Nvidia right now. Here’s why I’m excited. (Ad) 
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Politics | | | Russia has defaulted on its foreign debt for the first time since the Bolshevik Revolution more than a century ago, further alienating the country from the global financial system following sanctions imposed over its war in Ukraine.
Moscow owed $100 million in interest on one bond pri... Read the Full Story |
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Politics | | | British Prime Minister Boris Johnson’s bid to rip up parts of the post-Brexit trade deal he signed with the European Union has cleared its first hurdle in Parliament, despite warnings from opponents that the move is illegal.
Lawmakers voted 295 to 221 late Monday to give initial appr... Read the Full Story |
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Politics | | | Stocks swayed in afternoon trading on Wall Street Monday as the market cools off following a rare winning week.
The S&P 500 edged down 0.2% as of 2:19 p.m. Eastern. The benchmark index has been shifting between small gains and losses throughout the day. The Dow Jones Industrial Av... Read the Full Story |
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Markets | | | Digital operations management platform PagerDuty, Inc. (NYSE: PD) stock has outperformed the technology bear market down just (-18%) on the year. The digital ecosystem management platform enables enterprises to manage and analyze digital applications in real-time using artificial intelligence (AI) a... Read the Full Story |
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Politics | | | Shares of Frontier Airlines and Spirit Airlines tumbled Monday after their improved merger proposal won a key endorsement just days ahead of a crucial shareholder vote.
Frontier CEO Barry Biffle said Monday that he is optimistic Spirit shareholders will approve Frontier’s latest stock... Read the Full Story |
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Markets | | | Cybersecurity provider SentinelOne (NYSE: S) stock has fallen (-44%) year-to-date in the technology bear market despite its triple digit growth. The cloud-based cybersecurity provider provides artificial intelligence (AI) based protection for endpoints, cloud, and identity, which are areas offering ... Read the Full Story |
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Markets | | | Through June 24th, all but 16 of the popular benchmark’s names were in the red for 2022. At the other end of the spectrum is an unlikely collection of stocks that have boldly bucked the market trend. The upside in these three Nasdaq-100 stocks has only begun. Read the Full Story |
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Markets | | | Polestar (NYSE: PSNY) is a Swedish electric car maker, which is a part of the Volvo group. The company went public through a special purpose acquisition company (SPAC) with The Gores Guggenheim Group. Read the Full Story |
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Markets | | | The state-owned oil and gas company Qatar Energy said Monday it is joining a new industry-led initiative to reduce nearly all methane emissions from operations by 2030.
It comes as part of a broader global push to tackle emissions from methane, or natural gas, which is the second mos... Read the Full Story |
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Markets | | | H.B. Fuller has proven to be inflation-proof if nothing else. The company manufactures adhesive chemicals for 3 end markets and the demand is high despite a series of pricing increases. The pricing increases are coupled with volume growth as well, not something we’re seeing in most reports, and has revenue and earnings at record levels. Read the Full Story |
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Tuesday's Early Bird Stock Of The Day International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate. The Consulting segment focuses on skills integration for strategy, experience, technology, and operations by domain and industry. The Infrastructure segment provides on-premises and cloud based server, and storage solutions, as well as life-cycle services for hybrid cloud infrastructure deployment. The Financing segment offers client and commercial financing, facilitates IBM clients' acquisition of hardware, software, and services. The company has a strategic partnership to various companies including hyperscalers, service providers, global system integrators, and software and hardware vendors that includes Adobe, Amazon Web services, Microsoft, Oracle, Salesforce, Samsung Electronics and SAP, and others. The company was formerly known as Computing-Tabulating-Recording Co. International Business Machines Corporation was incorporated in 1911 and is headquartered in Armonk, New York. | | View Today's Stock Pick |
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