Good MorningEquity markets rebounded by 2% on Thursday, hoping the PCE price index would confirm a slowdown in inflation. The index is expected to hold steady at 0.3% compared to last month but fall to 4.5% compared to last year. That is a 0.1% decline in inflation but not enough reason for the market to rally. The market hopes that inflation will fall more than expected and lead the FOMC to begin pausing its interest rate hikes next week.
The risk for the Fed and the market is that pausing will allow the economy to regain traction and sustain inflation. In that scenario, the Fed will have to hike rates again later this year, possibly at a market-surprising pace. With oil prices hovering at levels not sustained in over a decade, it is unlikely inflation will turn negative, and there is a risk that oil prices will rise again. Oil prices are tied to the economic outlook; if the Fed surprises with a pause next week, the outlook will brighten, and oil prices will rise. Featured: WSJ: The "Boomer Asset" Giving Generation Z a Run for Its Money (Masterworks) 
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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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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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While signs of topping within the semiconductor industry are growing, not all segments face the same headwinds, and KLA Corporation (NASDAQ: KLAC) is in the latter group. Reports from Texas Instruments (NASDAQ: TXN) and Samsung (OTCMKTS: SSNLF) lend truth to an outlook put forth by UBS just a week... Read the Full Story |
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If you’ve been wondering when Automatic Data Processing (NASDAQ: ADP) will hit bottom, it looks like it is in. The pre-Q3 earnings release price action and the report scream bottom and have the stock set up for a reversal. The question that needs to be answered is if this reversal is from do... Read the Full Story |
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Markets | | | The average long-term U.S. mortgage rate rose this week for the second week in a row, another setback for homebuyers facing a housing market that remains unaffordable for many Americans after years of soaring home prices Read the Full Story |
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From Our PartnersThere's still plenty of upside ahead for gold. Sure, gold may have lost some of its shine. But don't count it out just yet.
"The macro drivers from aggressive rate hikes and a strong U.S. dollar have been keeping gold below $1,800 an ounce," according to analysts at RBC Capital Markets, as noted by Kitco.com. "But the heightened geopolitical tensions could still support gold into the year-end, which is why a price tag above $2,000 is still possible this fall."
So, where you consider investing? Try these oversold gold stocks. | | | | Get the Tickers |
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Stocks | | | The government’s report Thursday that the economy grew at a 1.1% annual rate last quarter signaled that one of the most-anticipated recessions in recent U.S. history has yet to arrive. Many economists, though, still expect a recession to hit as soon as the current April-June quarter — or soon therea... Read the Full Story |
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Shares of Southwest Airlines (NYSE: LUV) are trading lower in today's trading session, declining by as much as 6.5% following the company's first quarter of 2023 earnings announcement. While investors and markets are reacting negatively to the current figures and perhaps to some conserva... Read the Full Story |
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Meta Platforms Inc (NASDAQ: META), formerly known as Facebook, had an impressive Q1 2023 earnings report, beating analysts' expectations and showing strong growth in several key areas. As a result, the company's shares gapped up on Thursday's open to the tune of 15%. It was both a remarkable ... 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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Joby Aviation (NYSE: JOBY), a leader in the electric vertical takeoff and landing (eVTOL) aircraft industry, recently received a $55 million contract extension from the US Air Force for up to nine of its semi-autonomous flying vehicles. This brings the total potential value of Joby Aviation’... Read the Full Story |
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Friday's Early Bird Stock Of The Day Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets. Its Direct Lending Group segment provides financing solutions to small-to-medium sized companies. The company's Private Equity Group segment focuses on majority or shared-control investments primarily in under-capitalized companies. Its Real Estate Group segment invests in new developments and the repositioning of assets, with a focus on control or majority-control investments; and originates and invests in a range of self-originated financing opportunities for middle-market owners and operators of commercial real estate. The firm was previously known as Ares Management, L.P. Ares Management Corporation was founded in 1997 and is headquartered in Los Angeles, California with additional offices in the United States, Europe and Asia. Ares Management GP LLC is the general partner of the company. | | View Today's Stock Pick |
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