Good MorningThe equity market sold off hard last week on mounting fear of the FOMC. Not only did the Fed raise rates by the expected 75 basis points, but it indicated a minimum of 160 basis points more were coming. The news sent the yield on the ten-year treasure through the roof and the S&P 500 desperately seeking support. The index shed more than 5% for the week, putting it deeper into the bear market territory and on the verge of another 20% decline.
The next hurdle for the market will come on Friday with the PCE price index. The index is expected to moderate on a month-to-month basis but still come in hot versus last year. The risk is that consumer-level inflation will come in hotter than expected or worse, accelerate again, and raise the stakes in regard to the Fed, interest rate hikes, and the odds of a recession. Featured: See the Daily 10AM setup for 4PM payouts (Ad) 
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Stocks | | | In a familiar story, midcaps Targa Resources (NYSE: TRGP), Carlisle Companies (NYSE: CSL) and Steel Dynamics (NASDAQ: STLD), the largest components of the S&P 400 mid-cap index, all gapped down Friday along with the broader market.
Mid-caps are traditionally classified as those with market capi... Read the Full Story |
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Stocks | | | Cloud monitoring specialist Datadog (NASDAQ: DDOG) has been the subject of analyst enthusiasm recently - at least for the most part, according to data compiled by MarketBeat.
On Friday, Credit Suisse initiated coverage with an “outperform” rating. Earlier in the week, Moffet... Read the Full Story |
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Markets | | | Construction and heavy machinery maker Caterpillar (NYSE: CAT) stock has been weathering the bear market down (-17%) on the year. Despite the slowing demand in China, supply chain disruptions, inflationary pressure, and slowdown in the housing market, the Company is still bullish on strength in the ... Read the Full Story |
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On Thursday, we’ll learn if NIKE, Inc. (NYSE: NKE) got off on the right foot in its new fiscal year. The sneaker king reports first-quarter earnings after the close.
Let’s just say it will be a low hurdle to jump. The good news is that the worst is probably over for the company.
... Read the Full Story |
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Politics | | | The British pound fell to all-time low against the U.S. dollar early Monday after Treasury chief Kwasi Kwarteng pledged further tax cuts, fueling concerns about the government’s economic policy.
The pound fell as low as $1.0373, before rallying to $1.0672 in early London trading. It w... Read the Full Story |
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Politics | | | German Chancellor Olaf Scholz planted a tree at a mangrove park in the United Arab Emirates in a token nod to environmentalism during a two-day visit to the Gulf region focused mainly on securing new fossil fuel supplies and forging fresh alliances against Russia Read the Full Story |
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Politics | | | Saudi Arabia appears to be leaving behind the stream of negative coverage that the killing of Jamal Khashoggi elicited since 2018. The kingdom is once again being enthusiastically welcomed back into polite and powerful society, and it is no longer as frowned upon to seek Saudi investments or accept ... Read the Full Story |
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Politics | | | German Chancellor Olaf Scholz arrived Saturday in Saudi Arabia for the first stop of a two-day, three-country visit to the Middle East aimed at striking new energy deals and forging fresh alliances amid the economic and geopolitical turmoil resulting from Russia’s invasion of Ukraine.
... Read the Full Story |
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Tech | | | A Chinese scientific ship bristling with surveillance equipment docked in a Sri Lankan port. Hundreds of fishing boats anchored for months at a time among disputed islands in the South China Sea. And ocean-going ferries, built to be capable of carrying heavy vehicles and large loads of people.
... Read the Full Story |
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Interactive entertainment restaurant operator Dave & Buster's Entertainment, Inc. (NASDAQ: PLAY) is proving that its possible to mitigate both inflationary pressures and weakening consumer spending. They completed the $835 million acquisition of Dallas-based food and games chain Main Event Ent... Read the Full Story |
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Monday's Early Bird Stock Of The Day Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services. Its products include 6500 Packet-Optical Platform, Waveserver stackable interconnect system, and the 6500 Reconfigurable line system, and the 5400 family of Packet-Optical platforms, as well as 8100 coherent routing platforms; 3000 family of service delivery switches and the 5000 family of service aggregation switches, as well as 8700 Packetwave Platform and 6500 Packet Transport System. This segment also sells operating system software and enhanced software features embedded in each of its products. The company's Blue Planet Automation Software and Services segment provides multi-domain service orchestration, inventory, route optimization and analysis, multi-cloud orchestration, and unified assurance and analytics services. Its Platform Software and Service segment offers MCP domain controller solution, and OneControl unified management system, as well as planning tools. The company's Global Services segment provides maintenance support and training, installation and deployment, and consulting and network design services. Ciena Corporation was incorporated in 1992 and is headquartered in Hanover, Maryland. | | View Today's Stock Pick |
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