Good MorningEquity markets reversed course on Wednesday, ending a steady string of advances with a 1.5% decline. The move was driven by fear the Fed would not cut rates early in 2024 but would hold off until mid-year or later. The latest CPI report showed inflation cooler than before but holding steady near double the FOMC 2.0% target, a level inconsistent with the idea of interest rate cuts. The November PCE Index is due on Friday and may confirm stabilizing inflation at a higher-than-normal rate, a scenario sure to keep the FOMC in a hawkish stance for the next few meetings.
The S&P 500 is unlikely to move higher without a significant change in the outlook. The PCE data could do it, but it may take more than one data point to sway the Fed. This means high-interest rates and their impact on housing and consumer markets will remain in place. With the outlook for S&P 500 earnings growth in a quick retreat, it is likely the market will enter another correction in the first half of 2024 and could shed 10% to 20% before it is through. Featured: Buy this AI Stock Before Elon's Announcement (Legacy Research) 
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Stocks | | | United States Steel (NYSE: X) was once a more important American company than it is today, having been a Dow component until 1990. But it's back in the headlines after Japan's Nippon Steel Corp. (OTCMKTS: NPSCY) said it would acquire the company for $14.1 billion. That beat out an earlier bid fro... Read the Full Story >> |
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Stocks | | | In a year full of big numbers, with strong gains for stocks and even more fantastic flights for crypto, it was one shrinking number that superseded all.Inflation, the scourge of the global economy, moderated this year. It's still relatively high, particularly after the many years of low inflation th... Read the Full Story >> |
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Markets | | | Most stock call option contracts lose money upon expiration. They expire worthless. If you buy an out-of-the-money (OTM) call option because you believe a stock will rise in value, chances are high that you will lose most or all of your investment by options expiration. Options players t... Read the Full Story >> |
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Stocks | | | As year-end swiftly approaches, it's time to reflect on the year that was. 2023 will be remembered as the year of not just one standout catalyst but many. Notably the rise of Artificial Intelligence (AI), ongoing geopolitical tensions and conflicts, rising interest rates, and the Federal Reserve's b... Read the Full Story >> |
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Markets | | | Investors who own Pfizer Inc. (NYSE: PFE) may have expected 2023 to be what football teams call a "rebuilding year." The company shifted its focus away from COVID-19 drugs and toward potential deals, share buybacks, and new treatments in its pipeline. While rebuilding years are often messy, Pfize... Read the Full Story >> |
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Markets | | | Ubisoft Entertainment SA (OTCMKTS: UBSFY) is a video game publisher and developer headquartered in France. The computer and technology sector company is well-known for its popular iconic video game series like Assassin's Creed, Ghost Recon, Just Dance, The Crew, Rainbow Si... Read the Full Story >> |
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Markets | | | Asian shares fell Thursday after Wall Street hit the brakes on its big rally following disappointing corporate profit reports and warnings that the market had surged too far, too fast.U.S. futures rose while oil prices dipped as data showed an unexpected increase in U.S. inventories.Tokyo's Nikkei 2... Read the Full Story >> |
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Markets | | | The Bank of Japan kept its longstanding easy credit policy unchanged on Tuesday, saying it will watch price and wage trends before raising its negative benchmark interest rate. The BOJ policy decision was widely expected. But investors and analysts believe the central bank is tip-toeing toward a shi... Read the Full Story >> |
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Markets | | | Turkey's central bank hiked its key interest rate by 2.5 percentage points on Thursday as part of its efforts to combat high inflation that has left many households struggling to afford rent and essential items.The bank's Monetary Policy Committee raised its benchmark rate to 42.5%, delivering its s... Read the Full Story >> |
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Markets | | | World shares mostly fell Thursday after Wall Street hit the brakes on its big rally following disappointing corporate profit reports and warnings that the market had surged too far, too fast.Germany's DAX slipped 0.3% to 16,676.00 and in Paris, the CAC40 fell 0.3% to 7,559.33. Britain's FTSE 100 edg... Read the Full Story >> |
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The Early Bird Stock Of The DayThursday: Stock With Recent Earnings Beat D-Market Elektronik Hizmetler ve Ticaret A.S. operates e-commerce platforms in Turkey. The company operates www.hepsiburada.com, a retail website that provides its retail customers a range of merchandise, including electronics and non-electronics products, such as books, sports, toys, kids and baby products, cosmetics, furniture, etc. It also offers HepsiExpress, an app-in-app initiative and on-demand delivery service that delivers groceries, water, and flowers; HepsiJet that provides last-mile ... | | View Today's Stock Pick |
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