Good MorningEquity markets did an about-face on Wednesday, rising in early trading and then falling after the FOMC announced more interest rate hikes were coming. The FOMC paused in June, holding rates steady, but indicated inflation was not tamed and that 2 more should be expected. The news sent the odds on the CME's FedWatch Tool rocketing higher, indicating a significant outlook shift. The takeaway is that interest rate cuts should not be expected in 2023 without a significant decline in inflation.
Action in the S&P 500 was mixed. The index moved up, down, and sideways during the session while market participants digested the news. The implications for stocks are negative; rising rates are cutting into demand, which is capping the outlook for earnings. The market closed with a small gain for the day, creating a large Doji candle signifying significant uncertainty. The market may move higher from here, but it is climbing a wall of worry and heading toward a ceiling put in place by the Fed. Featured: U.S. Loses to China in Shocking WAR GAMES (Behind the Markets) 
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When you hear about stocks in the news, they often refer to an event that drives share prices up or down. Fundamental analysis interprets the news and the performance of a company's operations to derive a value for the underlying stock. However, all stocks must contend with an underlying pric... Read the Full Story |
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The global economic landscape has been in flux since the start of 2020, with markets worldwide experiencing both highs and lows in the wake of the global COVID-19 pandemic, the ongoing war in Ukraine and countless other factors.
Some investors have managed to profit from these wild swings. ... Read the Full Story |
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Markets | | | Asian stock markets followed Wall Street higher on Wednesday after a cooler reading on U.S. inflation fueled hopes the Federal Reserve will postpone a possible interest rate hike.Shanghai, Tokyo, Hong Kong and Sydney rose. Wall Street's benchmark S&P 500 index gained 0.7% to a 14-month high afte... Read the Full Story |
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Markets | | | Asian stock markets were mostly higher Tuesday ahead of a U.S. inflation update and a Federal Reserve decision on another possible interest rate hike.Shanghai declined while Tokyo and Hong Kong advanced. Oil prices rebounded from Monday's plunge.Wall Street's benchmark S&P 500 index rose 0.9% to... Read the Full Story |
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Stocks | | | Stocks are drifting higher Wednesday, as Wall Street waits to hear what the Federal Reserve’s latest economy-moving decision will be on interest rates.The S&P 500 was 0.4% higher in midday trading after riding a winning streak to its best level since April 2022. The Dow Jones Industrial Average ... Read the Full Story |
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From Our PartnersLithium may grab all the headlines, but the average electric vehicle requires 146 pounds of the mineral graphite. With no producing graphite mines in North America, the U.S. government is desperate for more domestic sources of the metal to feed the EV battery supply chain. | | See why "Made in America" graphite should be on every investor's radar |
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Markets | | | Wages in the U.K. spiked sharply in April, official figures showed Tuesday, a development that is set to cement expectations that the Bank of England will raise interest rates once again next week, to the likely dismay of many homeowners suffering from surging mortgage costs as well as high inflatio... Read the Full Story |
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Advanced Micro Devices (NASDAQ: AMD) announced game-changing news when unveiled the MI300X super chip. The MI300X is the company’s latest development and a pure play on AI. The chip is intended to rival NVIDIA (NASDAQ: NVDA) chips, such as the H100, which run for around $30,000 each. That&rs... Read the Full Story |
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Markets | | | The Federal Reserve’s decision Wednesday to leave interest rates alone for the first time in 11 meetings raises hopes that it may be at least nearing the end of its rate-hiking campaign to cool inflation.That said, the Fed's policymakers indicated that they envision potentially two more hikes this y... Read the Full Story |
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On Monday, Chegg (NYSE: CHGG) announced that it is laying off 4% of its workforce and parlaying the cost savings into executing its AI strategy. Chegg has been one of the headline "AI losers," or companies that see their business model under threat due to the rise of AI chatbots like ChatGPT. The ... Read the Full Story |
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Shares of Mullen Automotive (NASDAQ: MULN) are down another 15% to trade back at the pre-split level near $.25. That’s a bitter pill to swallow for investors holding out hopes this company can defy the odds and pull off production, sales, revenue, and earnings. There are many reasons to hope... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Purple Biotech Ltd., a clinical-stage company, focuses on developing therapies to overcome tumor immune evasion and drug resistance for cancer patients in the United States. Its oncology pipeline includes CM24, a humanized monoclonal antibody that blocks the interactions of carcinoembryonic antigen related cell adhesion molecule 1 as a combination therapy with anti-PD-1 checkpoint inhibitors, which is in Phase 2 clinical trial for the treatment of pancreatic ductal adenocarcinoma; NT219, a small molecule that targets and inhibits insulin receptor substrate 1 and 2, and signal transducer and activator of transcription, which is in Phase 1/2 clinical trials for the treatment recurrent and/or metastatic squamous cell carcinoma of the head and neck cancer or colorectal adenocarcinoma; and IM1240, a multi-valent antibody designed to activate anti-tumoral immune response against 5T4-positive tumors, which is in preclinical stage. The company has collaboration agreement with Bristol Myers Squibb Company to evaluate the combination of CM24 with the PD-1 inhibitor nivolumab in addition to chemotherapy. The company was formerly known as Kitov Pharma Ltd and changed its name to Purple Biotech Ltd. in December 2020. The company is headquartered in Rehovot, Israel. | | View Today's Stock Pick |
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