Good MorningEquity markets tried to rebound on Wednesday but couldn't. Solid earnings from tech majors like Google and Microsoft and consumer favorites like Chipotle Mexican Grill were overshadowed by fear of growing bank contagion. The latest news from the First Republic scandal is the bank needs to raise more capital to avoid a government takeover, and the $30 billion deposited by the US largest banks may already be lost. With the FOMC slated to hike rates by another 25 basis points next week, the odds of another bank failure are growing.
Thursday could see another day of decline. The market is cheering the better-than-expected earnings season, but fear of recession is also growing. Reports from companies like UPS and Packaging Corporation of America are contrary to the strength shown by other companies and point to widespread economic slowing. The news of the week will come out tomorrow. The PCE price index is due at 8:30 AM and is a high-probability market-moving event. Featured: 2023's Best Stock: Buy Before the Market Knows (Darwin) 
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As the 2023 NFL Draft reminds us, offensive players get a lot of attention. The same goes for the stock market.
The high growth potential of flashy startups and technology innovators attracts many investors to offense. But while these names can produce impressive financial stats, they come ... Read the Full Story |
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Markets | | |
Manufacturing and basic materials stocks like MMM (NYSE: MMM) have been declining for the past two years as fears of a coming recession in 2023 brew in the minds of the market and consumers alike. It is not encouraging to see the United States manufacturing PMI index read below 50% (signaling econ... Read the Full Story |
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Tech | | | Asian shares mostly fell Thursday, echoing the drop on Wall Street, as worries about the U.S. banking sector and inflationary pressures weighed on investor sentiment. Japan's benchmark Nikkei 225 declined 0.2% in morning trading to 28,349.95. Australia's S&P/ASX 200 slipped 0.4% to 7,288.70. Sou... Read the Full Story |
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Markets | | | A restaurant on the outskirts of Nairobi skimps on the size of its chapatis — a flaky, chewy Kenyan flatbread — to save on cooking oil. Cash-strapped Pakistanis reluctantly go vegetarian, dropping beef and chicken from their diets because they can no longer afford meat. In Hungary, a cafe pulls burg... Read the Full Story |
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Markets | | |
Whenever an entire sector appears to be on fire, as is the case with financials at the moment, there are usually areas of opportunity among stocks bucking the broad sector trend.
One stock, Fintech company Fiserv Inc. (NASDAQ: FISV), even managed to break out of a base while not only financ... Read the Full Story |
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Stocks | | | First Republic Bank's stock continued to slide Wednesday, an ongoing rout that has erased 60% of its value just this week on concerns about the bank's financial health in the wake of two other bank collapses.Shares slumped almost 30%, following an even more severe tumble Tuesday, after the bank reve... Read the Full Story |
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Markets | | | They're not quibbling about minor points. There are stark differences in how President Joe Biden and House Speaker Kevin McCarthy want to shore up the government's finances.The Democratic president primarily wants higher taxes on the wealthy to lower deficits; the GOP congressional leader favors sha... Read the Full Story |
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Markets | | |
Reasons to take profits in chip stocks are growing, and Texas Instruments (NASDAQ: TXN) is 1 of them. The company’s Q1 results and outlook weren’t horrible, but they didn’t inspire a rally, and more of the same can be expected from the group. Texas Instruments is a diversified ch... Read the Full Story |
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Markets | | | Boeing lost $425 million in the first quarter — more than Wall Street expected — but said Wednesday that it plans to boost production of its best-selling plane, the 737 Max, later this year.Revenue rose 28% from a year earlier, as airlines scooped up new jets to meet rising travel demand, and the co... Read the Full Story |
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Markets | | |
CEO Brian Niccol continues to prove his worth to Chipotle Mexican Grill (NYSE: CMG) and its investors. The company’s strategy has taken on a new meaning, with growth exceeding expectations on the dual tailwinds of expansion and deepening penetration. It can not be overstated the importance o... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Sify Technologies Limited offers ICT solutions and services in India and internationally. It operates through Network Centric Services, Data Center Services, and Digital Services segments. The company offers internet, internet protocol, multi-protocol label switching, virtual private network, SDWAN, managed Wi-Fi, internet of things, wholesale and retail voice, dedicated internet access, and proactive monitoring and management of the network and devices. It provides co-location services; and managed hosting services, such as storage, back-up management, performance monitoring, infrastructure monitoring and management, network availability, server load balancing, managed shared firewall, web server log reporting, and remote and smart hands services. In addition, it offers managed network services; EDGE services; cloud and managed services, including infrastructure as a service, platform as a service, virtual private data center, computing services, IT platform, backup and recovery solution, and content delivery network; remote and onsite infrastructure managed services; and managed security services. Further, the company provides technology integration services; application integration services, which includes talent management, supply chain management, web portal solutions content services, portal development and maintenance, eLearning, digital signature, SAP, Microsoft, Oracle services. The company was formerly known as Sify Limited and changed its name to Sify Technologies Limited in October 2007. Sify Technologies Limited was incorporated in 1995 and is headquartered in Chennai, India. Sify Technologies Limited is a subsidiary of Ramanand Core Investment Company Private Limited. | | View Today's Stock Pick |
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