Good MorningEquity markets pulled back a second day on Wednesday after weaker-than-expected jobs data from ADP. ADP says job gains increased by a net 145,000, about half what the economists expected. The news raises the question of recession and what the Fed's interest rate policy is doing to the economy. A weak NFP report on Friday will cement fears into place and will weigh heavily on the market.
A key report for investors will be the Challenger, Gray & Christmas report on layoffs. The February data showed a surprising surge in layoffs that may have accelerated over the last month. As an indicator, labor data is often lagging behind the broader economy so a downturn in hiring and an uptick in layoffs may signal the US is already in a recession. Featured:
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Tech | | Shares were mixed in Asia on Tuesday as investors watched for the latest moves by central banks, while oil prices steadied after shooting higher the day before following an announcement that major exporters plan to cut production. Benchmarks rose in Tokyo, Shanghai and Seoul but fell in Hong Kong an... Read the Full Story |
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Wondering if Wag! Group Co. (NASDAQ: WAG) is worth your time, or is this penny stock company wagging the dog? Based on this stock's sell-side interest, it is worth your time. Sell-siders, including insiders, Wall Street analysts and institutional money, are buying this stock and have total ownersh... Read the Full Story |
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The consumer staples sector and packed food stocks like Kraft Heinz (NASDAQ: KHC) specifically are getting a lift from Conagra Brands, Inc (NYSE: CAG) Q3 results. The report highlighted the company’s pricing power and earnings ability in tough operating conditions, which may foreshadow simil... Read the Full Story |
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SGH (NASDAQ: SGH) shares hit bottom late last year, and this is a chance it will reverse course and begin to rally again. The question is when the rally will happen; the answer may be later this year. The Q2 results were mixed but prove the company’s resilience in uncertain operating co... Read the Full Story |
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Markets | | The UBS takeover of embattled rival Credit Suisse has shaken Switzerland’s self-image and dented its reputation as a global financial center, analysts say, warning that the country’s prosperity could grow too dependent on a single banking behemoth.The uncertain future of a union of Switzerland’s two... Read the Full Story |
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In our 24-7 news cycle world, it’s hard not to be a prisoner of the moment. It seems like every quarter; we hear the next “event” is the most important in history. So I won’t say that this upcoming earnings season for banks is the most important in history.
But let&r... Read the Full Story |
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Markets | | Saudi Arabia and other major oil producers on Sunday announced surprise cuts totaling up to 1.15 million barrels per day from May until the end of the year, a move that could raise prices worldwide.Higher oil prices would help fill Russian President Vladimir Putin's coffers as his country wages war ... Read the Full Story |
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Markets | | The Swiss government says it's ordered cuts to the bonuses of top executives of Credit Suisse, with nearly 1,000 managers being “deprived” of tens of millions combined as the troubled bank heads toward a forced merger with rival UBS.The Federal Council, a seven-member panel that runs Switzerland's e... Read the Full Story |
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Markets | | New Zealand's central bank surprised economists on Wednesday by imposing an aggressive half-point rate rise to bring its benchmark interest rate to 5.25%.It was the Reserve Bank of New Zealand's 11th straight rate hike as it tries to cool inflation, which is running at 7.2%, far above the bank's tar... Read the Full Story |
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Office furniture maker Steelcase Inc. (NYSE:SCS) stock may be staging a turnaround as it attempts to break out of a weekly descending triangle price pattern. Steelcase manufactures and sells office furniture to large corporations, hospitals, schools, and the government and sells its products throu... Read the Full Story |
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Thursday's Early Bird Stock Of The Day iSun, Inc., a solar energy services and infrastructure deployment company, provides design, development, engineering, procurement, installation, storage, and electric vehicle infrastructure services for residential, commercial, industrial, and utility customers in the United States. It provides operation, maintenance, and solar; electrical contracting; and data and communication services. The company was formerly known as The Peck Company Holdings, Inc. and changed its name to iSun, Inc. in January 2021. iSun, Inc. was founded in 1972 and is headquartered in Williston, Vermont. | View Today's Stock Pick |
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