Good MorningEquity markets deepened their sell-offs after another round of good-news-is-bad-news. The Q3 GDP was hotter than expected on consumer spending, business inventories, building activity, and government spending. The takeaway is that the data may not lead the Fed to hike rates again, but it cements the idea that rates will stay high indefinitely. The US consumer is resilient and continues to spend in the face of higher prices; it may take some time for it to run out of momentum.
The next big hurdle for the market is today's reading of the PCE price index. The index is expected to accelerate from the prior month and may be hot enough to keep the market moving lower. If so, the S&P 500 could shed another 5% to 10% before hitting a firm bottom. Earnings will also be a factor in Friday trading. Reports from names like Amazon, Exxon, and Chevron are due before the open and will be market-moving events. Featured: Buy This Stock for AI Tidal Wave (not NVDA) (Chaikin Analytics) 
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Stocks | | | Shares of Lockheed Martin (NYSE: LMT) took flight after a better-than-expected report, and other defense contractors are doing the same. News from Northrup Grumman, the 6th largest by contract obligations, and General Dynamics (NYSE: GD) #3 have these stocks flying bull flags and set to extend rec... Read the Full Story >> |
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From Our PartnersThe U.S. government is moving towards electric cars, and European countries are phasing out gas-powered vehicles entirely, with Norway banning oil and gas and England following by 2030. This proves the future is in electricity.
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Stocks | | | Up as much as 13% earlier this year, the S&P 400 has slipped into negative territory for 2023. Like its large-cap cousin, the S&P 500, the mid-cap index is being weighed down by surging Treasury yields and rising geopolitical risks. The 10-year Treasury note’s return to 5% (the highe... Read the Full Story >> |
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Markets | | | Autonomous driving specialist and Intel Corp. (NASDAQ: INTC) spinoff Mobileye Global Inc. (NASDAQ: MBLY) gapped up at the open on October 26 after beating third-quarter profit and revenue estimates. MarketBeat’s Mobileye Global earnings data show the company earning 22 cents a share on reve... Read the Full Story >> |
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Stocks | | | Investor Warren Buffett joined the recent oil-buying spree in the market this week by resuming Berkshire Hathaway's purchases of Occidental Petroleum stock for the first time in four months.Buffett's company said in a Securities and Exchange Commission filing late Wednesday that it invested more tha... Read the Full Story >> |
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Markets | | | Shares of United Parcel Service (NYSE: UPS) were trading within a range at the start of Q3 and were not expected to set new lows, yet it did. The company’s effort to reposition itself for growth and earnings is working, but global macroeconomic conditions pulled the rug out from under the ma... Read the Full Story >> |
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Markets | | | World shares were mostly higher on Friday and oil prices jumped about $2 after the Israeli military said its troops and tanks had briefly entered northern Gaza.Germany's DAX gained 0.4% to 14,796.41 while the CAC 40 in Paris lost 0.4% to $6,861.30. Britain's FTSE 100 picked up 0.2% to 7,367.42. The ... Read the Full Story >> |
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Markets | | | The SPDR S&P 500 ETF Trust (NYSEARCA: SPY) is trading below its 200-day line, a signal that more declines may be in the cards. The S&P 500 rallied to a high of 4607 on July 27, before rolling over as tech, in particular, led the market lower. The index is down 6.40% in the past three mont... Read the Full Story >> |
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Markets | | | Exxon Mobil's third-quarter profit and revenue declined compared with the same time last year when the company put up enormous numbers, but the oil giant had its strongest ever refinery throughput for the period and raised its quarterly dividend Read the Full Story >> |
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Markets | | | A 23-year-old man found himself locked inside a safe room in New York's Diamond District for nearly 10 hours.The jewelry store customer was checking his safety deposit box in a DGA securities vault in the basement of 580 Fifth Avenue, which houses several jewelry vendors and vaults, at around 8 p.m.... Read the Full Story >> |
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Markets | | | Too many of us have gotten lost in our everyday routines for so long that we haven't thought about updating our tools in forever. To begin with the basics, maybe it's time that you upgrade the suite of tools that you use for writing, creating spreadsheets, building spreadsheets, sending emails, and ... Read the Full Story >> |
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The Early Bird Stock Of The DayFriday: Stock With Insider Buying Stellantis N.V. engages in the design, engineering, manufacturing, distribution, and sale of automobiles and light commercial vehicles, engines, transmission systems, metallurgical products, mobility services, and production systems worldwide. It provides luxury and premium passenger vehicles; pickup trucks, sport utility vehicles, and commercial vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services. The company offers its products under the Abart... | | View Today's Stock Pick |
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