Good MorningEquities markets stumbled and bounced from support last week as earnings season rolls on. The week's news is that earnings are better than expected, and core consumer inflation cooled a tenth compared to the previous month. The sad news is that PCE prices fell 0.1% compared to an upwardly revised figure and are hotter than expected. In this light, the FOMC may be unable to ease back on interest rate hikes, although they have indicated the next meeting would be the last hike for 2023.
This week brings another round of earnings reports and key economic data. Topping the list of economic releases is the NFP report on Friday, followed by the ISM reports and construction spending. These data points are expected to confirm the slowing in the economy seen in other data points. Among the most troubling is the Index of Leading Indicators, which has been negative for more than a year and is trending deeper into negative territory. Featured: Trump Just Gave the Green Light to Rewrite Social Security? (Ad) 
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Language learning platform Duolingo Inc. (NYSE: DUOL) has been eloquent lately, forging a bullish chart pattern ahead of earnings and increasing revenue at robust double-digit rates. The company’s price performance in the past several months is leading the online education sub-industry.
Pit... Read the Full Story |
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At one time, the statement “as General Motors goes so goes the economy” carried weight with investors. Today, an inverse of that statement reflects the current state of Caterpillar, Inc. (NYSE: CAT) stock. That is, as the economy goes, so goes CAT stock. Let me explain.
Despite ... Read the Full Story |
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While it’s not a great strategy to make a bet on a stock when it’s close to reporting earnings, it’s definitely good to keep a watch list of strong companies, like Array Technologies Inc. (NASDAQ: ARRY), that are due to report soon. By monitoring your watch list, you can quickly ... Read the Full Story |
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Mondelez International's (NASDAQ: MDLZ) Q1 results echo news from top-tier consumer staples brands across verticals. The company has pricing power and underlying demand to support its business, and it is outperforming consensus expectations. The Q1 news has the stock up another 2% in premarket tra... Read the Full Story |
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Markets | | | Ukraine on Saturday welcomed the European Union’s hard-fought deal to keep farm exports flowing into and through the bloc to world markets, saying that the Middle East and Africa would specifically stand to benefit from it. Late Friday, the 27-nation EU ended a damaging internal standoff over a dest... Read the Full Story |
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Markets | | | Regulators seized troubled First Republic Bank early Monday, making it the second-largest bank failure in U.S. history, and promptly sold all of its deposits and most of its assets to JPMorgan Chase in a bid to stop further banking turmoil that has dominated the first half of this year Read the Full Story |
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Markets | | | Zimbabwe will launch a digital currency next month by introducing “tokens” that are backed by gold reserves and can be transferred between people and businesses as a form of payment, the country's central bank said Friday.The move is aimed at shoring up Zimbabwe's faltering national currency, the Zi... 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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Markets | | | Exxon Mobil more than doubled its profit during the first quarter, producing more oil to overcome energy prices that have declined during a period of economic unease. The nation's second-largest oil company, Chevron, also beat expectations, but did so more through its refining operations. Exxon's et... Read the Full Story |
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ExxonMobil’s (NYSE: XOM) stock price has been on a tear since hitting the pandemic bottom, and it looks like that trend is not over. The stock is up more than 200% and could easily take it to 300% given the results, the outlook for oil prices, analyst sentiment and a recent uptick in institu... Read the Full Story |
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Monday's Early Bird Stock Of The Day State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors. It also engages in the provision of portfolio management and risk analytics, as well as trading and post-trade settlement services with integrated compliance and managed data. In addition, the company offers investment management strategies and products, such as core and enhanced indexing, multi-asset strategies, active quantitative and fundamental active capabilities, and alternative investment strategies. Further, it provides services and solutions, including environmental, social, and governance investing; defined benefit and defined contribution; and global fiduciary solutions, as well as exchange-traded funds under the SPDR ETF brand. The company provides its products and services to mutual funds, collective investment funds, UCITS, hedge funds and other investment pools, corporate and public retirement plans, insurance companies, foundations, endowments, and investment managers. State Street Corporation was founded in 1792 and is headquartered in Boston, Massachusetts. | | View Today's Stock Pick |
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