Good MorningWild swings continued on Wall Street on Thursday. TheS&P 500 reversed an early loss to gain more than 1.85% at the high of the day. The move came despite a round of mixed economic data that suggest weaker than expected job creation on the heels of the largest increase in wage inflation ever recorded in the US. US wages rose 12.6% in Q1 to drive a similarly large contraction in productivity. The takeaway from the data is that economic activity is contracting due to the rise in inflation, specifically wage inflation, and the data will most likely get worse before it gets better.
Next week, the market will be on high alert for the Consumer Price Index. The index is expected to make a sharp slowdown from previous months due to the overlap with last year's data. The risk for the market is that inflation will not cool appreciably and add pressure on the Fed. This will be the last inflation data before the next FOMC meeting, the FOMC is expected to hike rates by 50 basis points with a near 100% certainty. Featured: Trump Just Gave the Green Light to Rewrite Social Security? 
|
Markets | | |
As long as short interest remains high, the overall view of CHWY stock is cloudy
Shareholders in Chewy (NYSE: CHWY) are getting some relief from the relentless sell-off in the stock. In late-day trading, CHWY stock is up 23.8% on the back of a strong earnings report. The online retailer of ... Read the Full Story |
|
From Our PartnersREVEALED: $194 Trillion Trump Market Pattern
Trump fires off a tweet and stocks tank…
He gives a speech and the markets soar…
Now, a new Trump executive order is set to set off a wave worth a potential $194 trillion in the markets.
And Wall Street insider Larry Benedict says it could hand investors who missed out on Trump’s first term a second chance. | | | Click here to discover this exciting new trading pattern. |
|
Politics | | | The OPEC oil cartel and allied producing countries including Russia will raise production by 648,000 barrels per day in July and August, offering modest relief for a global economy suffering from soaring energy prices and the resulting inflation Read the Full Story |
|
Tech | | | California regulators on Thursday gave a robotic taxi service the green light to begin charging passengers for driverless rides in San Francisco, a first in a state where dozens of companies have been trying to train vehicles to steer themselves on increasingly congested roads.
The Ca... Read the Full Story |
|
From Our PartnersWashington is running out of money…And guess where they'll look next?
When governments go broke, they take from the people.
It's happened before, and it's happening again.
The Department of Justice just admitted that cash isn't legally YOUR property. | | | Get your free guide now by clicking here >> |
|
Tech | | | Ford will add 6,200 factory jobs in Michigan, Missouri and Ohio as it prepares to build more electric vehicles and roll out two redesigned combustion-engine models.
The company says it will invest $3.7 billion in the three states between now and 2026. It also will convert about 3,000 ... Read the Full Story |
|
Politics | | | The U.S. announced new sanctions Thursday on Russian oligarchs and elites, including some of the richest men in Europe and their families, as well as penalties targeting more Kremlin officials, businessmen linked to President Vladimir Putin and their yachts, aircraft and firms that manage them.
... Read the Full Story |
|
From Our PartnersWith the next presidential cycle heating up and Trump leading the charge, major market shifts are already taking shape.
For investors who position early, the opportunities could be significant.
That’s why we’ve just released a brand-new report:
📈 “5 Best Stocks to Buy Under Trump’s Presidency.” | | | Get the full report here—and stay ahead of the curve. |
|
Politics | | | Holding an empty tote bag, Bahiano Arévalo waits impatiently for his turn at the Little Lions soup kitchen outside Argentina's capital. A few moments later, the 7-year-old receives some milk and cake.
He takes it to his mother, Evelin Benítez, who is waiting for him near the entrance ... Read the Full Story |
|
Markets | | | Shares of Alibaba Group are down YTD due to regulatory pressures and threats of Western sanctions. The company is using this opportunity to buy back shares and some investors believe the company to be undervalued at its current levels. Read the Full Story |
|
Tech | | |
After a vicious selloff that saw shares of identity software company Okta (NASDAQ: OKTA) fall 70% from last November through last month, they’re finally looking like they’re ready to turn around. Investors have to go all the way back to January to find a run of two green weeks in a row... Read the Full Story |
|
Tech | | | Xiaomi (OTCMKTS: XIACF) is facing headwinds from supply chain shortages and the coronavirus pandemic. Both of these factors have reduced the demand for smartphones in China and it could be set to continue for the rest of this year. Read the Full Story |
|
Stocks | | | RH (NYSE: RH) was one of the first companies to warn the market about inflationary and supply chain hiccups and, as such, we expect to see give some of the earliest insight into what to expect over the summer. As dubious as the company’s bellwether status may be, the message we are getting from the report is not good. Read the Full Story |
|
Friday's Early Bird Stock Of The Day Evelo Biosciences, Inc., a clinical-stage biotechnology company, focuses on discovering and developing oral medicines that act on immune cells in the small intestine with systemic effects. It is developing EDP1815, a whole-microbe product candidate, which has completed a Phase 2 trial for the treatment of psoriais; and is in Phase 2 clinical trial for the treatment of atopic dermatitis. The company is also developing EDP1867, a non-live pharmaceutical preparation for single strain of Veillonella parvula, which is in Phase 1b clinical trial; EDP2939, an investigational oral biologic for the potential treatment of inflammatory diseases; and EDP1908, a product candidate for oncology. Evelo Biosciences, Inc. was incorporated in 2014 and is headquartered in Cambridge, Massachusetts. | | View Today's Stock Pick |
|
