Good MorningEquities plummeted on Tuesday following a much hotter than expected reading of the CPI. The CPI came in hotter than expected in all comparisons belying the idea that consumer inflation had peaked which puts increased pressure on the FOMC to act. The news not only points to hot inflation but an acceleration at the consumer level that may not be finished. The FOMC is meeting next week and has been indicating a willingness to fight inflation that could lead to another 75 basis point hike or more. The odds of a 75 basis point hike hit 100% following the CPI news and the CMEs FedWatch Tool is pricing in a 35% chance for an historically high 100 basis point interest rate hike.
The takeaway from the news is far-reaching and ends with the earnings outlook for the S&P 500. Inflation is cutting into the bottom line for most companies and FOMC interest rate hikes are going to cap business and other economic activities which means lower revenues and lower earnings. The bottom line is the hurricane predicted by Jamie Dimon last spring is now upon us and it looks like it's a bad one. Featured: How Much Longer Will It Be Under $1? (Investing Daily) 
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Politics | | | Stocks are tumbling, and disappointment is smacking markets worldwide Tuesday, following Wall Street’s sudden realization that inflation isn’t slowing as much as hoped.
The S&P 500 was 3.1% lower in afternoon trading, threatening to snap a four-day winning streak. Bond prices also... Read the Full Story |
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Markets | | | Discount retailer Five Below (NASDAQ: FIVE) stock has been suffering from macroeconomic headwinds. The stores sells consumables and products from $1 to $5. The bright and colorful stores seems to focus on a younger demographic from toddlers to teens as its packed with toys, novelty and cutesy items,... Read the Full Story |
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Politics | | | Asian markets skidded lower on Wednesday after Wall Street fell the most since June 2020 as a report showed inflation has kept a surprisingly strong grip on the U.S. economy.
Most regional benchmarks fell more than 2%, but were holding steady. U.S. futures edged higher, with the contr... Read the Full Story |
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Stocks | | |
Mid-cap energy drink maker Celsius Holdings (NASDAQ:CELH) has been trading in a sideways pattern without gaining any lift since its earnings report on August 9.
The company’s proprietary MetaPlus formula is designed to turn on thermogenesis, a process that boosts the body's metabolic ... Read the Full Story |
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Stocks | | |
Lyft (NASDAQ: LYFT) stock has been rising on the back of rumors of acquisition from an activist investor. Lyft’s stock is down over 66% over the past year, as exuberance stemming from the previous few years that led to excessive valuations has started to moderate, especially within tech sect... Read the Full Story |
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From Our PartnersOn October 13, the Government is going to make an announcement that could radically alter your retirement.
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Markets | | |
By the slimmest of margins, the U.S. economy slipped into a recession after real gross domestic product, or GDP, retreated 0.6% in the second quarter.
Still, many market prognosticators have brushed aside the technical definition of two straight quarters of negative GDP growth, asserting th... Read the Full Story |
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Tech | | | A top court largely rejected Google's appeal of a record European Union antitrust fine imposed for throttling competition and reducing consumer choice through the dominance of its mobile Android operating system. It marks another win for EU regulators taking a global lead in controlling the power of... Read the Full Story |
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Tech | | | South Korea’s privacy watchdog has fined Google and Meta a combined 100 billion won ($72 million) for tracking consumers' online behavior without their consent and using their data for targeted advertisements Read the Full Story |
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Markets | | | The largest union representing workers for General Electric Co. said Tuesday it's reached an agreement with the company to speed up raises for workers at a Massachusetts aviation plant.
Under the deal, workers would be eligible for raises sooner and could reach the top pay rate after ... Read the Full Story |
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Stocks | | |
It was only two days ago I predicted another drop in the S&P 500 (NYSEARCA: SPY), and oh, what a difference those days have made. Since then, we’ve got not one but two horribly bad inflation reports that have the outlook for interest rate hikes and recession reaching new peaks. As if the... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals. Lamar Advertising Company was founded in 1902 and is headquartered in Baton Rouge, Louisiana. | | View Today's Stock Pick |
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