Good MorningEquity markets are showing signs of caution if not topping in the face of a declining outlook for Q4 2022 and 2023 earnings for the S&P 500. The action on Tuesday had the market up from the open but moving sideways from Monday's action with resistance just above the 4,000 level. The caution is due to a raft of economic data that is due out Wednesday through Friday that culminates with the PCE price index on Friday. The index is expected to accelerate on a sequential basis but to decelerate versus last year which is a mixed signal indeed. A slowdown in YOY inflation is good but it doesn't mean much with inflation still running at more than double the Fed's 2.0% target and accelerating in the near term.
News that didn't get much attention on Monday is the Index of Leading Indicators. The Index of Leading Indicators fell by -1.0% and 0.3% faster than expected. This is just shy of the worst reading in the last few years which was last month and points to increasingly weak conditions within the US economy. Featured: [Video] How to collect cash payouts (Ad) 
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The 2023 calendar year has already been rocky for many biotech companies. Just three weeks into the new year, layoffs are already plaguing the industry. Of course, while layoffs may not be the most desirable outcome for those in the industry, they can be a boon for investors.
Among those who have... Read the Full Story |
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From Our Partners | | AI’s explosive growth is triggering a hidden resource boom — and one analyst says these metals are at the center of it.
Used in microchip wiring and data center infrastructure, demand is soaring. Now, the Trump administration is fast-tracking access to U.S. reserves… and a handful of mining stocks may be poised to surge. | | See the AI-critical metals briefing here |
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Tech | | | Stocks are rising Monday, as Wall Street grows more convinced the Federal Reserve is set to turn the screws on the economy less aggressively and as earnings reporting season ramps up.
The S&P 500 was 1% higher, led by tech companies in a widespread move upward. The Dow Jones Indu... Read the Full Story |
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Politics | | | Sooner or later, either Wall Street or the Federal Reserve has to blink.
Nearly a year into the Fed’s drive to quash inflation by hiking interest rates at a blistering pace, investors still don’t seem to fully believe what the Fed warns is coming next: Higher rates through the end of... Read the Full Story |
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From Our Partners | | Your account is not currently signed up for MarketBeat's free Monday morning stock ideas. Our team is going to be releasing an important pick on Monday morning and we want to make sure that you are able to see it. | | Add your name to the distribution list here |
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Stocks | | | Shares were higher Monday in Europe and in Asia, where most markets were closed for the Lunar New Year holiday.
Germany's DAX edged 0.1% higher, to 15,058.49 while the CAC 40 in Paris also gained 0.1% to 7,002.30. Britain's FTSE 100 added 0.2% to 7,786.30. The future for the S&P ... Read the Full Story |
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Tech | | | Stocks were higher in Asia on Tuesday after a tech-led rally on Wall Street as investors bet the Federal Reserve will trim its rate hikes to tamp down inflation.
Many markets in the region were closed for Lunar New Year holidays.
A preliminary reading for manufacturing... Read the Full Story |
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From Our Partners | | The computers can crunch the numbers, but they can't spot the red flags that only come from decades of experience.
They can't sense when management is being too optimistic in their guidance.
They can't read between the lines of an earnings call.
That human element is crucial. | | Click here to see tickers |
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Sending satellites into orbit with rockets already has an established track record, but small-cap Rocket Lab USA, Inc. (NASDAQ: RKLB) staged its first U.S. launch on January 24. The payload consisted of three small satellites.
The company went public in April 2021 via a merger with special purpos... Read the Full Story |
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Biotech Pliant Therapeutics Inc. (NASDAQ: PLRX) zoomed 34% higher on January 23 and added to that gain in the subsequent session.
The gap-up followed the company’s announcement of results for a treatment for a lung condition known as idiopathic pulmonary fibrosis.
Patients with... Read the Full Story |
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Baudax Bio (NASDAQ: BXRX) shares spiked as much as 70% on its announcement of positive interim phase 2 clinical trials for its pain medicine BX1000. While the interim positive outcome is based on a 20-patient group, it expects to complete the phase 2 trial with 80 patients by the end of the first ... Read the Full Story |
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It was supposed to be a rough year for retailers. You wouldn’t know it by their stock charts.
The National Retail Federation predicted that November and December sales would grow around 7%. As it turned out, inflation and higher interest rates had a bigger-than-expected impact on holiday sh... Read the Full Story |
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Stocks | | | Stocks fell in morning trading on Wall Street Tuesday as more big companies deliver their latest financial results and updates amid lingering concerns about a potential recession.
The S&P 500 fell 0.3% as of 10:24 a.m. Eastern. The Dow Jones Industrial Average fell 51 points, or 0... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day ONEOK, Inc. engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions; and provides midstream services to producers of NGLs. It also owns NGL gathering and distribution pipelines in Oklahoma, Kansas, Texas, New Mexico, Montana, North Dakota, Wyoming, and Colorado; terminal and storage facilities in Kansas, Nebraska, Iowa, and Illinois; NGL distribution pipelines in Kansas, Nebraska, Iowa, Illinois, and Indiana; transports refined petroleum products, including unleaded gasoline and diesel; and owns and operates truck- and rail-loading, and -unloading facilities connected to NGL fractionation, storage, and pipeline assets. In addition, the company transports and stores natural gas through regulated interstate and intrastate natural gas transmission pipelines, and natural gas storage facilities. Further, it owns and operates a parking garage in downtown Tulsa, Oklahoma; and leases excess office space and rail cars. Additionally, the company transports, stores, and distributes refined products, NGLs, and crude oil, as well as conducts commodity-related activities, including liquids blending and marketing activities. It serves integrated and independent exploration and production companies; other NGL and natural gas gathering and processing companies; crude oil and natural gas production companies; utilities; industrial companies; natural gasoline distributors; propane distributors; municipalities; ethanol producers; petrochemical, refining, and marketing companies; and heating fuel users, refineries, and exporters. ONEOK, Inc. was founded in 1906 and is headquartered in Tulsa, Oklahoma. | | View Today's Stock Pick |
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