Good MorningThe equities market slipped again on Wednesday, although the move was muted in relation to the prior session. The S&P 500 shed about 0.25% at the low of the session but closed with a small gain following a mixed PPI report. The PPI data fell slightly on a month-to-month basis but remains very hot on a core and YOY basis and points to additional price increases for consumers down the road. The news was not-as-bad as feared but bad enough and should help seal the deal on a 75 basis point rate hike at the next FOMC meeting in just 7 days.
With the CPI and PPI still running hot and the FOMC on track to raise rates another 150 bps by the end of the year the odds of a major recession have grown very high. The first glimmers of that recession can be seen in the housing market, which is seeing a high double-digit decline in the pace of mortgage apps and new and existing home sales. Featured: See the Daily 10AM setup for 4PM payouts (Ad) 
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If you’re an investor in 3M (NYSE:MMM) you’re aware of the perfect storm that’s swirling around the company and its stock. The company got a lift from being a supplier of essential materials for first responders during the pandemic.
That halo is long since gone. The compan... Read the Full Story |
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Around six or seven years ago, a new gas station operated by Murphy USA (NYSE: MUSA) opened across the street from a Super Walmart (NYSE: WMT) not far from where I live in Santa Fe, New Mexico.
Since then, I’ve noticed Murphy gas stations springing up throughout the U.S. While the com... Read the Full Story |
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Markets | | | We’ve all seen those commercials where someone has to get up frequently during the night to urinate; Axonics (NASDAQ: AXNX) is a company whose products address that problem.
The stock rallied to a high on Monday then pulled back along with the broader market.
The Irvine, Californ... Read the Full Story |
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The Q3 reporting season is fast approaching which means it's time to start picking potential winners and losers. Today I’m looking at the five hottest upgrades coming out of the 2nd quarter earnings reporting cycle and what to expect when they report.
Palo Alto Networks For A Two-Pron... Read the Full Story |
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Apple (NASDAQ: AAPL) iPhone 14 was recently released and investors will be wondering, whether the phone will have a significant impact on Apple’s revenue. iPhone 14 was released on the 8th of August, and critics have pointed out that there isn’t that much difference between the previou... Read the Full Story |
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Politics | | | Shares were mostly higher in Asia on Thursday after a wobbly day of trading yielded modest gains on Wall Street.
U.S. futures inched up while oil prices were mixed.
Shanghai’s benchmark lost 1% to 3,204.93 after China's central bank left its benchmark lending rate unch... Read the Full Story |
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Politics | | | President Joe Biden said Thursday a tentative railway labor agreement has been reached, averting a potentially devastating strike before the pivotal midterm elections.
He said the tentative deal “will keep our critical rail system working and avoid disruption of our economy.”
... Read the Full Story |
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Politics | | | President Joe Biden said Thursday a tentative railway labor agreement has been reached, averting a potentially devastating strike before the pivotal midterm elections.
He said the tentative deal “will keep our critical rail system working and avoid disruption of our economy.”
... Read the Full Story |
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Markets | | | The CEO of energy giant Shell, Ben van Beurden, is stepping down at the end of the year after nine years in charge and will be replaced by Wael Sawan, the company announced Thursday.
Sawan, who has worked for Shell for 25 years, is currently director of integrated gas, renewables and ... Read the Full Story |
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Tech | | | When it came time to showcase its electric Chevrolet Equinox SUV to the public this year, General Motors decided against doing so at the big Detroit auto show, as it typically would have done in the past Read the Full Story |
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Thursday's Early Bird Stock Of The Day Sibanye Stillwater Limited, together with its subsidiaries, operates as a precious metals mining company in South Africa, the United States, Europe, and Australia. The company produces gold; platinum group metals (PGMs), including palladium, platinum, rhodium, iridium, and ruthenium; chrome; nickel; and silver, cobalt, and copper. It owns the East Boulder and Stillwater mines located in Montana, the United States; and Columbus metallurgical complex, which smelts the material mined to produce PGM-rich filter cake, as well as conducts PGM recycling activities. The company also involved in the Kroondal, Rustenburg, Marikana, and Platinum Mile operations situated in South Africa; Mimosa located on the southern portion in Zimbabwe; the Driefontein, Kloof, Rand Refinery, and Cooke surface operations located on the West Rand of the Witwatersrand Basin; and the Beatrix situated in the southern Free State. In addition, it owns an interest in surface tailings retreatment facilities; the Marathon PGM project in Ontario, Canada; the Altar and Rio Grande copper gold projects in the Andes in north-west Argentina; the Hoedspruit; and the Burnstone and southern Free State gold projects in South Africa. Sibanye Stillwater Limited was founded in 2013 and is headquartered in Weltevreden Park, South Africa. | | View Today's Stock Pick |
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