Good MorningBearish momentum is building on Wall Street. Wednesday's market rebound was nothing more than a blip on the radar, possibly driven by short-covering, as traders and investors continue to move to cash. The move comes just a day before the fresh read of the PCE price index and put the S&P 500 at a new 22-month low. Assuming the PCE index comes out as expected, the sell-off could easily gain momentum and take the market down to the 3,500 level or lower.
The PCE index is expected to come in at 0.5% MoM and 4.7% YOY, which are both an acceleration from the previous month and a new high for the YOY comparison. The takeaway is the market is expecting the worst, and the data could be hotter than predicted. Regardless, the data is in support of the Hawkish FOMC, so investors should be prepared for at least another 50 basis points of interest rate hikes at the next meeting if not another 75. Featured: [URGENT] 1 Day Left to Watch This A.I. (Vantage Point) 
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Stocks | | | Processed-foods maker JM Smucker is holding up better than the broader market, as consumers shift their purchasing to groceries rather than discretionary items The chart action looks encouraging, as it may bode well for investors to snap up shares at a lower valuation Industry peer Hos... Read the Full Story >> |
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Politics | | | Global stocks were mixed Friday after inflation in 19 countries that use Europe's euro currency spiked to a record and Chinese factory activity weakened. London and Frankfurt opened higher. Shanghai and Tokyo declined while Hong Kong advanced. Wall Street futures reboun... Read the Full Story >> |
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Stocks | | | Keurig Dr. Pepper raised its dividend in September The stock has returned more, year-to-date, than larger rivals Coca-Cola and PepsiCo Keurig Dr. Pepper is part of the S&P 500, and its recent price action is essentially tracking its index With the market continuing to hit the skid... Read the Full Story >> |
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Stocks | | | CarMax stock is dropping sharply after reporting a steep drop in profits. Consumers are voting with their wallets, which is consistent with the current monetary policy. If the worst is baked in, KMX stock is starting to look properly valued The used car dealership CarMax (... Read the Full Story >> |
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Stocks | | | The latest revenue numbers are optimistic for a variety of reasons. Analysts are holding onto the stock, despite some evidence, and see it going higher. There's a lot less chance of a significant correction than there was going into the report. Labor market stocks like Paychex (NASDAQ: PAYX... Read the Full Story >> |
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Markets | | | Humana collects 90% of its revenues from federal and state government health programs Humana’s generates big profits serving the riskiest and poorest populations (Seniors and Medicaid) The Company raised its full-year 2022 guidance and full-year 2025 guidance indicating a 14% CAG Health... Read the Full Story >> |
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Politics | | | British Prime Minister Liz Truss and her Treasury chief have met with the independent Office of Budget Responsibility amid efforts to ease concerns about unfunded tax cuts that have unleashed turmoil on financial markets Read the Full Story >> |
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Politics | | | The U.K.'s Office of Budget Responsibility says it will deliver an initial analysis of the government's economic plan on Oct. 7 following a meeting Friday with Prime Minister Liz Truss. The pledge came after Truss and Treasury chief Kwasi Kwarteng met with OBR officials amid efforts t... Read the Full Story >> |
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Politics | | | Inflation in the European countries using the euro currency has broken into double digits as prices for electricity and natural gas soar, signaling a looming winter recession for one of the globe's major economies as higher prices undermine consumers' spending power. Consumer prices i... Read the Full Story >> |
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Tech | | | Swedish officials don't yet know if an undersea power cable that runs between Sweden and Poland was damaged when the Nord Stream gas pipelines ruptured from what Western and Russian officials both claimed was intentional tampering Read the Full Story >> |
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The Early Bird Stock Of The DayFriday: Stock With Insider Buying Allakos Inc., a clinical stage biopharmaceutical company, develops therapeutics that target immunomodulatory receptors present on immune effector cells in allergy, inflammatory, and proliferative diseases. The company's lead monoclonal antibody is lirentelimab (AK002), which is in a Phase III study for the treatment of eosinophilic gastritis and/or eosinophilic duodenitis; a Phase II/III study for eosinophilic esophagitis; and a Phase II clinical study to atopic dermatitis and chronic spont... | | View Today's Stock Pick |
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