Good MorningFriday's market action is a classic example of when good news is really bad news for stocks. The January Non-farm payrolls report showed a gain of more than 500,000 new jobs despite ongoing layoffs in the tech sector. This is on top of upward revisions to the already strong figures in the previous 2 months and drove another big wage increase. Wages jumped $0.21 from last month's reported figure for a more than 4.0% YOY gain. This is down from the peak but well within the range set over the last 2 years. With the NFP as strong as it is, it doesn't look like wage inflation is going anywhere but sideways anytime soon.
The market will get a reprieve from economic data this week, but the earnings onslaught continues. Another 100+ S&P 500 earnings reports are expected, and they are sure to confirm what we already know; the Q4 earnings season is worse than expected, and the outlook for 2023 is falling fast. At the current pace, the consensus estimate for 2023 S&P 500 earnings growth will hit negative territory by the end of this reporting season, which is not a catalyst for higher prices. Featured: Trump Knows Exactly What He's Doing (Ad) 
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Stocks | | | Hundreds of demonstrators from India’s main opposition party have gathered in New Delhi and other cities to demand regulators investigate allegations of fraud and stock manipulation by India's second-biggest conglomerate, headed by coal mining tycoon Gautam Adani Read the Full Story |
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Markets | | | Wall Street’s big rally to start the year wilted on Friday after a surprisingly strong jobs report fueled worries about inflation and higher interest rates.
The S&P 500 fell 1% for its first drop in four days, though it took an up-and-down route to get there. The bond market was ... Read the Full Story |
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Markets | | | Wall Street's rally is stalling Friday, as a stunningly strong report on the U.S. job market sends investments on another dizzying roller-coaster ride.
Stocks opened with sharp losses and then erased them all, before falling back again. The bond market, meanwhile, was more decisive i... Read the Full Story |
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Markets | | | Wall Street's rally is stalling Friday, as a stunningly strong report on the U.S. job market sends investments on another dizzying roller-coaster ride.
Stocks opened with sharp losses and then erased them all, before falling back again. The bond market, meanwhile, was more decisive i... Read the Full Story |
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Zimmer Biomet Holdings, Inc. (NYSE: ZBH) reported a beat on both the top and bottom lines when it delivered its fourth quarter 2022 earnings report on February 3. The surgical appliance and supply company delivered quarterly net sales of $1.83 billion. That was higher than the consensus forecast o... Read the Full Story |
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Pennsylvania-based EPAM Systems Inc. (NYSE: EPAM) isn’t as well known as some of its S&P tech sector peers. Still, the infotech services provider is making a name for itself with artificial intelligence tools.
EPAM shares gapped up 7.53% on February 2, making it the tech sector&rsq... Read the Full Story |
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Every day has ushered in more and more headlines covering the AI platform ChatGPT as it becomes more and more mainstream. Artificial intelligence (AI) platforms have been around for over a decade, like International Business Machines Corp. (NYSE: IBM) AI platform Watson which launched in 2011.
Ho... Read the Full Story |
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Politics | | | Going into Tuesday's State of the Union address, President Joe Biden sees a nation with its future aglow.
Republicans take a far bleaker view — that the country is beset by crushing debt and that Biden is largely responsible for inflation. And the GOP now holds a House majority intent... Read the Full Story |
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Global streaming audio platform Spotify Technology SA (NASDAQ: SPOT) stock missed top and bottom lines expectations on its fiscal Q4 2022 earnings, but Mr. Market didn’t care shares screamed higher. Spotify has an estimated 30.5% of the global music streaming market, with over 100 million so... Read the Full Story |
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With their shares having rallied as much as 30% since the end of December, Ford Motor Company (NYSE: F) investors would have been looking forward to a strong February and potentially March. Ford shares have been stuck in a pretty defined range since last summer, bouncing off the support line for t... Read the Full Story |
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Monday's Early Bird Stock Of The Day Electronic Arts Inc. develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands. The company licenses its games to third parties to distribute and host its games. It markets and sells its games and services through digital distribution and retail channels, as well as directly to mass market retailers, specialty stores, and distribution arrangements. Electronic Arts Inc. was incorporated in 1982 and is headquartered in Redwood City, California. | | View Today's Stock Pick |
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