Good MorningEquity markets continued to rebound on Thursday following the Fed's November policy statement. Although the Fed indicated another rate hike could be necessary to tame inflation, the market cheered because the peak was near. The S&P 500 gained about 2% at the session's high and could continue to advance over the next few weeks. The risk is that inflation is not tamed, and rates will remain high indefinitely. In this scenario, the S&P 500 will be capped by a dwindling outlook for corporate earnings growth.
The consensus estimates for earnings growth in 2024 are falling. The Q1 and Q2 figures are down more than 50% from recent highs and may continue to fall as the year progresses. Consumers are already pinched, and with the holiday season approaching, there is concern that spending will be less than analysts expect. The takeaway for consumers is that discounts and deals are expected to approach the pre-pandemic levels, which were highly favorable to shoppers.
Featured: Investor Alert: Nanotechnology Breakthrough In Development (FendX Technologies Inc) 
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Shares of Shutterstock (NYSE: SSTK) are down 7.5% during the middle of Wednesday's trading session; some can blame it on the fact that the ISM Manufacturing PMI came in much lower than the markets were expecting, signaling a reasonable concern for the economy; some may blame it on the FOMC meeting... Read the Full Story |
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Results from ServiceNow (NASDAQ: NOW) bode well for cloud services stocks. The company posted results that sparked a round of surprisingly bullish chatter from analysts that points to continued strength in this and other cloud services names.
Analysts viewed the ServiceNow results as remark... Read the Full Story |
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Stocks | | | Wall Street steamrolled even higher Friday as it closed out its best week in nearly a year. The S&P 500 climbed 40.56 points, or 0.9%, to 4,358.34 and rose every day of the week. The Dow Jones Industrial Average gained 222.24, or 0.7%, to 34,061.32, and the Nasdaq composite jumped 184.09, or 1.4... Read the Full Story |
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From Our PartnersA former bank regulator is blowing the whistle on Biden's frightening plan to take over your money. Discover the immediate steps you need to take now. | | | | Get The Rest Of The Details Here |
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HUB Cyber Security (NASDAQ: HUBC), a little-known small-cap cyber security company, has recently made headlines after its stock experienced triple-digit growth last month.
The Israeli cyber security solutions company first grabbed the headlines on October 19 after it announced that it was p... Read the Full Story |
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Remember that guy who got knighted by Queen Elizabeth for his philanthropic accomplishments? No? Maybe you remember him from multiplying his money after the 1929 depression and coming up with his now famous saying, which rhymes with investing at the point of maximum pessimism.
His name is Sir Joh... Read the Full Story |
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From Our PartnersThe uncertainty rattling the markets is off the charts.
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Was Extreme Networks’ (NASDAQ: EXTR) disappointing revenue guidance a harbinger of what’s to come in the networking industry, or is there a company-specific problem?
“As far as slowed growth, we are seeing it across the industry,” Extreme Networks CEO Ed Meyercord to... Read the Full Story |
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Markets | | | Maersk, the world’s biggest shipping company, said Friday that it plans to eliminate 10,000 jobs due to what it described as a challenging environment for container trade and logistics services. The company said the move would result in savings of $600 million in 2024.The announcement was made as Co... Read the Full Story |
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Markets | | | The nation’s employers slowed their hiring in October, adding a modest but still decent 150,000 jobs, a sign that the labor market may be cooling but remains resilient despite high interest rates that have made borrowing much costlier for companies and consumers Read the Full Story |
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Markets | | | The Bank of England kept its main interest rate unchanged at the 15-year high of 5.25% and indicated that borrowing costs will likely remain at these sort of elevated levels for a while yet especially if oil and gas prices increase sharply because of the Israel-Hamas war Read the Full Story |
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Markets | | | Customers fell for Starbucks' fall menu in the fiscal fourth quarter, with Pumpkin Spice Lattes and apple croissants helping the company achieve record revenue.But the company said Thursday that growth could moderate in the coming year as it faces economic uncertainty around the world.Revenue for th... Read the Full Story |
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Friday's Early Bird Stock Of The Day Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery, development, and delivery of medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The company develops Apitegromab, an inhibitor of the activation of myostatin that is in Phase 3 clinical trial for the treatment of spinal muscular atrophy; and SRK-181, which has completed Phase 1 clinical trials for the treatment of cancers that are resistant to checkpoint inhibitor therapies, such as anti-PD-1 or anti-PD-L1 antibody therapies. It is developing a pipeline of product candidates to deliver novel therapies to treat a range of serious diseases, including neuromuscular disorders, cardiometabolic disorders, cancer, fibrosis, and iron-restricted anemia. Scholar Rock Holding Corporation was founded in 2012 and is headquartered in Cambridge, Massachusetts. | | View Today's Stock Pick |
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