Good MorningEquity markets went wild on Wednesday as investors cheered the economic data and then realized its true meaning. The surprise decline in producer-level inflation is good news for those concerned about inflation, but the retail sales figure suggests the damage is already done to the economy. Retail sales are up YOY but fell more than 1.0% monthly as higher prices and rising interest rates cut into consumer spending. The takeaway from the data is that S&P 500 pricing power may be headed out the window as input costs fall and demand for finished goods declines.
The data that investors truly need to watch is the consensus figures for S&P 500 earnings. The consensus figures are in decline for the 1st half of 2023 and are a dead weight for the market to bear. Now that index price action has reconfirmed resistance at the 4,000 level and the top of a downward-sloping channel, it looks like January will end with the market flat to down which is not a good sign for the rest of the year will bring.
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Markets | | | Wall Street had its biggest pullback of the year Wednesday after a broad slide for stocks wiped out much of the benchmark S&P 500 index's gains from last week.
The S&P 500 fell 1.6% after having been up as much as 0.6% in the early going. The Dow Jones Industrial Average lost... Read the Full Story |
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Stocks | | | Wall Street had its biggest pullback of the year as a January market rally sputtered. Technology stocks led the way lower, including a 1.9% drop in Microsoft after the tech titan joined others in its industry in announcing layoffs. Weak readings on retail sales and industrial production also helped ... Read the Full Story |
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Stocks | | | Stocks turned broadly lower on Wall Street in afternoon trading Wednesday after a key Federal Reserve policymaker said the central bank needs to keep raising rates to tame inflation. The remarks followed new data showing consumers reined in retail spending last month.
The S&P 500 ... Read the Full Story |
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From Our Partners2025 is off to a turbulent start—markets are swinging wildly, inflation pressures remain high, and recession fears are creeping back into headlines.
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Even consumer staples juggernaut The Procter & Gamble Company (NYSE: PG) is susceptible to macroeconomic pressures.
In October 2022, the maker of Tide, Bounty, Oral B and many other household essentials missed quarterly earnings expectations. It ended a multiyear streak of Street topping prof... Read the Full Story |
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Intel Corporation (NASDAQ: INTC) ended the year with a ton of baggage and a beaten-down stock price. Shares had given up more than 60% in less than two years, and the chip giant had been under increasing pressure from investors to get it together.
However, it’s looking like shares have mana... Read the Full Story |
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From Our PartnersJeff Brown, the tech legend who picked shares of Nvidia in 2016 before they jumped by more than 22,000%...
Just did a demo of what Nvidia’s CEO said will be "the first multitrillion-dollar robotics industry." | | | Click here to watch the demo… |
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Stocks | | | Stocks gave up early gains and fell in midday trading on Wall Street Wednesday as investors review the latest updates on retail sales, inflation and company earnings.
The S&P 500 fell 0.8% as of 11:41 a.m. Eastern. The benchmark index rose as much as 0.6% earlier in trading. The D... Read the Full Story |
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Markets | | | The CEO of United Airlines said Wednesday that other airlines won’t be able to handle all the flights they plan to operate this year, leading to more disruptions for travelers.
Scott Kirby said airlines that operate as if this is still 2019, before the pandemic, are bound to struggle.... Read the Full Story |
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J.B. Hunt’s (NASDAQ: JBHT) Q4 results confirm a trend that has recently developed within the trucking and logistics industry. The analysts began warming up to the truckers but their interest was centered on logistic companies like GXO Logistics (NYSE: GXO) and truckers like Knight-Swift Tran... Read the Full Story |
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As a pioneer of the value investing methodology, Warren Buffett is most famous for investing in blue chip brands found in millions of homes and businesses throughout the United States.
Recently though, his investment company Berkshire Hathaway (NYSE: BRK.B) has made some adventurous entries ... Read the Full Story |
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Today's economic data was a mixed bag for investors, with a decline in producer-level inflation being good news for those concerned about inflation but a decrease in retail sales suggesting damage to the economy.
The decrease in retail sales can be attributed to higher prices and rising interest ... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Uxin Limited, an investment holding company, engages in the retail sale of vehicles in China. The company operates an e-commerce platform for buying and selling used cars. It also offers used-car acquisition, inspection, reconditioning, warehousing, pre-sales and after-sales, and various car-related value-added products and services, as well as warranty and repair, delivery, and title transfers and vehicle registration services. Uxin Limited was incorporated in 2011 and is headquartered in Beijing, China. | | View Today's Stock Pick |
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