Good MorningEquity markets wobbled on Wednesday following the Fed's 25 basis point interest rate hike. The hike puts the base rate at 550 basis points and the highest level in over 2 decades. The statement indicated a possible pause at the next meeting but left the door open for another historic interest rate hike later this year. The data-dependent Fed will watch the inflation data for its next cue, and the next release is just around the corner.
The PCE price index is due out tomorrow and may alter the Fed's trajectory. The index is expected to moderate from the previous month, the question is by how much and if the decline will be sustained. As it is, the price of oil is on the rise, and oil underpins the cost of everything. With it on the rise, it is likely that inflation will remain hot, if not accelerate and lead the FOMC to raise rates higher and higher. Regardless, there is little expectation for a rate cut until 2024 if then.
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Markets | | | Large capitalization stocks (usually ranging from $50 to $100 billion in size) tend to move very slowly, sort of like a tanker ship trying to turn its course, as opposed to a speedboat trying to corner a turn at high speeds. Boeing (NYSE: BA) is one such stock, a giant in the industry with a va... Read the Full Story |
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Cyber security stocks have been a hot topic for the last few years, Check Point (NASDAQ CHKP) included. The industry is supported by the shift to digital, the shift to the cloud, the new shift to AI, and it is an industry with long legs. Digitization and the cloud will only become more entrenched ... Read the Full Story |
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Markets | | | Asian stock markets retreated Wednesday after Wall Street hit a 15-month high ahead of a Federal Reserve meeting that traders hope will end with the final increase in this interest rate cycle.Shanghai, Tokyo, Hong Kong and Seoul declined. Oil prices retreated.Wall Street's benchmark S&P 500 inde... Read the Full Story |
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From Our Partners | | New Hampshire just launched a Strategic Crypto Reserve — and James Altucher says it’s the first sign that “Trump’s Great Gain” has officially begun.
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Markets | | | The Banc of California has agreed to buy PacWest Bancorp in an all-stock transaction, bringing an end to months of speculation about whether PacWest could survive on its own after the failures of three other regional banks this spring Read the Full Story |
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The price action in Verizon (NYSE: VZ) stock has been trying hard to put in a bottom, and the factors supporting the move are still in place. Verizon trades at a ridiculously low level for almost no reason, paying a safe and growing dividend. The dividend is among the most appealing aspects of the... Read the Full Story |
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Markets | | | Union Pacific has hired the CEO candidate favored by a hedge fund that's been pressuring the railroad to improve amid disappointing results driven by weakening consumer demand and higher labor costs. The Omaha, Nebraska-based railroad said its former chief operating officer Jim Vena will take over a... Read the Full Story |
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Markets | | | NXP Semiconductors (NASDAQ: NXP) did not have a blowout quarter, but the results are good enough that analysts praise the news. The takeaway from the chatter is that another steady quarter with solid cash flow supported by the company's diversification has come and gone.
The results, better than ex... Read the Full Story |
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Markets | | | Dozens of people protested in front of the Central Bank of Iraq in Baghdad and bank owners called for official action to stem a sharp increase in the dollar exchange rate Wednesday, after the United States blacklisted 14 Iraqi banks.Over the past two days, the market rate of the dollar jumped from 1... Read the Full Story |
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Markets | | | The Federal Reserve's decision Wednesday to raise its benchmark rate for the 11th time, by a quarter-point, could once again send ripple effects across the economy.Mortgage rates, which have surged since the Fed began lifting rates in March 2022, may now rise further. So could rates on credit cards ... Read the Full Story |
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Markets | | | It’s happened again. About this time last month, Tesla Inc (NASDAQ: TSLA) received what was its third rating downgrade in just a few weeks. What we found interesting at the time was that all the analysts putting through the downgrades still felt bullish on Tesla’s lon... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Lilium N.V. engages in the research and development of electric vertical takeoff and landing aircrafts and jet for use in high-speed air transport system for people and goods. It also provides aircraft manufacturer services, including training services, maintenance operations, material management and global distribution, flight operations support, ground service equipment, and digital solutions. The company was founded in 2015 and is headquartered in Gauting, Germany. | | View Today's Stock Pick |
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