Good MorningEquity markets after a round of stronger-than-expected economic data. The Q4 GDP came in at 2.9% and a tenth hotter than expected on strong labor conditions and consumer health. The takeaway is that the underlying strength in the economy is supporting activity among S&P 500 companies but also inflation. The recent downtick in inflation is good news but may not be sustainable given the economic strength. In this light, the market's expectation for only a 25 basis rate hike at the next FOMC meeting may be misplaced.
The entire outlook could change today upon the release of the December PCE price index. The index is expected to confirm the downtick in consumer-level inflation but the data will most likely be mixed. While YOY comparisons will cool, inflation is expected to have accelerated on a month-to-month basis and may come in hot. In this scenario, the odds of a 25 basis point hike will crater and the S&P 500 could fall with it. Featured: How to collect cash payouts (Ad) 
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The energy boom is back, and Houston-based oil-and-gas industry supplier NOV Inc. (NYSE: NOV) is capitalizing on the renewed uptrend.
The stock advanced more than 6% for the week, as of January 26. The broader large-cap energy sector, as tracked by the Energy Select Sector SPDR Fund (NYSEARCE: XL... Read the Full Story |
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Markets | | |
Switzerland-based chipmaker STMicroelectronics N.V. (NYSE: STM) gapped 7.75% on January 26 after significantly topping analysts’ views for fourth-quarter earnings.
The company earned $1.32 per share on revenue of $4.42 billion, topping analyst views of $1.13. Wall Street had expected ... Read the Full Story |
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Before the company’s earnings report on January 27, Chevron Corporation (NYSE: CVX) announced a $75 billion share buyback program. This triples the company’s budget for share buybacks. Not surprisingly, CVX stock is up nearly 3% in morning trading.
The company is also increasin... Read the Full Story |
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Tech | | | Stocks are moving higher on Wall Street Thursday following reports suggesting the economy and corporate profits may be doing better than feared.
The S&P 500 was 0.8% higher in the late afternoon after briefly dipping lower in late morning trading. The Dow Jones Industrial Average ... Read the Full Story |
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Tech | | | Asian shares advanced Friday, tracking a rally on Wall Street following reports suggesting the economy and corporate profits may be doing better than feared.
In Tokyo, data showed the core consumer price index was up 4.3%, slightly higher than expected and higher than the Bank of Japa... Read the Full Story |
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From Our Partners | | Bitcoin just smashed through $122,000 — exactly as crypto analyst Juan Villaverde predicted.
Now he says it’s headed for $150K… but believes one lesser-known coin could outperform Bitcoin entirely. He’s sharing the name and setup behind it — just as we enter what he calls the biggest crypto bull run in history. | | See the coin Juan says could beat Bitcoin in this bull market |
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Markets | | | American Airlines and two smaller carriers gave more proof Thursday of the recovery in air travel, posting better-than-expected profit for the fourth quarter, while Southwest Airlines lost money because of massive flight cancellations last month.
Southwest said it expects another loss... Read the Full Story |
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E-commerce platform Shopify Inc. (NYSE: SHOP) cleared a cup-with-handle base on January 24, with a buy point above $45.16.
The surge followed a Shopify blog post after the market close on January 23, announcing price increases.
The stock is up 36.36% in January, with a one-week gain ... Read the Full Story |
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Markets | | | Global shares advanced Friday, tracking a rally on Wall Street following reports suggesting the economy and corporate profits may be doing better than feared.
France's CAC 40 gained 0.2% to 7,107.44. Germany's DAX was unchanged at 15,134.04, while Britain's FTSE 100 rose nearly 0.2% t... Read the Full Story |
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Politics | | | The U.S. economy expanded at a 2.9% annual pace from October through December, ending 2022 with momentum despite the pressure of high interest rates and widespread fears of a looming recession.
Thursday’s estimate from the Commerce Department showed that the nation’s gross domestic pr... Read the Full Story |
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Have you ever wondered what the future of e-commerce will look like?
With its e-commerce projection through 2026, the consulting firm offers us a glimpse into the future.
This report answers concerns regarding potential changes in the online market, potential effects of technology on the s... Read the Full Story |
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Friday's Early Bird Stock Of The Day Deciphera Pharmaceuticals, Inc., a biopharmaceutical company, develops drugs to enhance the lives of cancer patients by addressing key mechanisms of drug resistance that limit the rate and durability of response to existing cancer therapies in the United States and internationally. Its lead drug candidate is QINLOCK used for the treatment of gastrointestinal stromal tumors (GIST), as well as in INTRIGUE Phase 3 study to treat second-line GIST. The company is also developing vimseltinib, an orally administered, potent, and highly selective switch-control kinase inhibitor of colony stimulating factor 1 receptor (CSF1R) for the treatment of tenosynovial giant cell tumor (TGCT); and DCC-3116 to treat RAS/RAF mutant cancers that is in the preclinical-stage. Deciphera Pharmaceuticals, Inc. was founded in 2003 and is headquartered in Waltham, Massachusetts. | | View Today's Stock Pick |
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