Good MorningEquity markets received a rude awakening on Tuesday when Fed chief Jerome Powell's prepared remarks to the congress were released to the public. In the remarks, Mr. Powell reveals inflation is not tamed, the FOMC is on track to continue raising rates, another 50 basis point interest rate hike may be necessary, and peak interest rates may be higher than the market expected. The news caused the S&P 500 to retreat more than 1.5% at the day's low, confirming resistance to higher prices at the 30-day moving average.
The risk for the market is definitely tilted toward the downside following this news. Higher rates for longer will have a more profound and longer-lasting impact on the economy, which will be seen first in the earnings outlook. The outlook for S&P 5-- earnings was already declining; an acceleration in the downtrend will add additional pressure to the index and stocks in general. Featured: Claim $10,000 In FREE silver In 2023 (Goldco) 
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Tech | | | After sweeping through battles in statehouses across the country, the war against ESG investing is heating up in Congress.
The Senate voted Wednesday to overturn a Labor Department rule allowing retirement plans to consider environmental, social and governance factors when making inve... Read the Full Story |
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Stocks | | | Stocks are rising Monday, clawing back some of their losses from Wall Street’s worst week since early December.
The S&P 500 was 0.6% higher in afternoon trading and on pace for just its second gain in the last seven days. The Dow Jones Industrial Average was up 146 points, or 0.5%... Read the Full Story |
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Stocks | | | Stocks steadied themselves Monday following Wall Street's worst week since early December.
The S&P 500 rose 12.20 points, or 0.3% to 3,982.24 for just its second gain in the last seven days. The Dow Jones Industrial Average gained 72.17, or 0.2%, to 32,889.09, while the Nasdaq com... Read the Full Story |
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From Our PartnersDid you know each electric car battery requires 220 pounds of graphite - more than lithium, copper, or aluminum? China enjoyed a "near monopoly" in this vital ingredient... until the U.S. made a blockbuster announcement. Now one little-known company is set to play a crucial role in the booming $7 trillion EV revolution.
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Markets | | |
A 12% drop on Tuesday was the last thing investors of electric vehicle (EV) maker Rivian Automotive Inc (NASDAQ: RIVN) were expecting. Despite having already sank more than 50% since last quarter, they would have been hoping the stock was set to start recovering rather than falling to fresh lows. ... Read the Full Story |
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Markets | | |
Drug discovery software developer Schrodinger Inc. (NASDAQ: SDGR) stock has been trying to recover after plummeting over 80% off its all-time high of $117 in January 2021. Schrodinger’s artificial intelligence (AI) powered software technology platform utilizes physics-based modeling and soph... Read the Full Story |
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Stocks | | | Stocks are opening higher, clawing back some of the losses from their worst week since early December. The S&P 500 rose 0.8% early Monday and is on pace for just its second gain in the last seven days. The Dow and the Nasdaq also rose. Stocks have struggled in February after a strong start to th... Read the Full Story |
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Markets | | | Wall Street pointed toward gains before the opening bell Monday after last week's rout and ahead of another full slate of corporate earnings this week.
Futures for the benchmark S&P 500 rose 0.5% and futures for the Dow Jones industrials moved 0.4% higher.
Last week... Read the Full Story |
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Markets | | |
Brazil’s third-largest airline Azul S.A. (NYSE: AZUL) is back from the dead thanks to surging travel demand and an improved capital structure. The carrier delivers passengers and cargo. This under-the-radar airline has seen double-digit improvement in its operating metrics YoY and even more ... Read the Full Story |
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Markets | | |
The Department of Justice is suing to stop the proposed merger between JetBlue Airways (NASDAQ: JBLU) and Spirit Airlines (NYSE: SAVE) on antitrust grounds. A judge who is known for rapidly pushing cases to trial is already assigned to the case.
The DOJ argues that the merger is bad for consumers... Read the Full Story |
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Markets | | |
Traders and investors hoping for good news did not get it from Fed chief Jerome Powell. Mr. Powell, in his prepared remarks to congress, let it be known that inflation is not where the FOMC wants it. The latest data may warrant an increase in the pace of rate hikes and that peak interest rates cou... Read the Full Story |
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Wednesday's Early Bird Stock Of The Day First Financial Bankshares, Inc., through its subsidiaries, provides commercial banking products and services in Texas. The company offers checking, savings and time deposits; automated teller machines, drive-in, and night deposit services; safe deposit facilities, remote deposit capture, internet banking, mobile banking, payroll cards, funds transfer, and performing other customary commercial banking services; securities brokerage services; and trust and wealth management services, including wealth management, estates administration, oil and gas management, testamentary trusts, revocable and irrevocable trusts, and agency accounts. It also provides commercial and industrial, municipal, agricultural, construction and development, farm, residential, and consumer auto and non-auto, as well as non-owner occupied and owner occupied commercial real estate loans. In addition, the company offers advisory and specialized services related to asset management, investing, purchasing, advertising, public relations, and technology services. First Financial Bankshares, Inc. was founded in 1890 and is headquartered in Abilene, Texas. | | View Today's Stock Pick |
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