Good MorningEquity markets pulled back on Monday after a weaker-than-expected reading of the Chicago PMI. The Chicago PMI came in at 45.2 which is not only contractionary but a decline from the previous month versus the expected improvement. The takeaway from the data is that general business conditions in the US have entered a contraction despite what the latest GDP data indicated. This, along with the index of leading indicators, suggests a worsening economic backdrop and not one that is improving. Later this week, the market may also be impacted by the NFP report as well as another large interest rate hike from the FOMC.
The market is pricing in a near 100% chance for another 75 basis point interest rate hike on Wednesday but the news may be in the statement. After the last PCE price index reading, it looks like the FOMC will have to get more aggressive and possibly keep policy tighter for longer than has already been indicated. The good news is that the S&P 500 and Dow Jones Industrial Average have had the best October in decades. If this action continues into November it could be a November to remember. Featured: Watch These 4 Penny Stocks... (PTR) 
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Markets | | | Social media developer Meta Platforms (NASDAQ: META) stock took a (-24%) cliff dive after its Q3 2022 earnings miss. While the earnings miss has investors concerned, the revenues came in better than expected by nearly $300 million. The strong U.S. dollar make a $1.79 billion impact on revenues and... Read the Full Story >> |
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From Our PartnersThe world's wealthiest person -- Elon Musk -- is a visionary investor. And he fully expects solar power to be our #1 energy source within a few decades. Utility-scale solar is already becoming the cheapest option for electricity generation globally. So with the push toward clean, renewable energy, it's no wonder solar is also becoming one of the fastest growing sectors in the U.S. stock market. | | See Why This is Such a Huge Untapped Market Opportunity |
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Politics | | | Hong Kong jumped more than 5% and other world markets also advanced after a survey of Chinese manufacturing showed activity has improved. U.S. futures and oil prices rose, while the euro gained but stayed below $1. The monthly manufacturing gauge from Caixin, a Chinese... Read the Full Story >> |
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Markets | | | Iconic motorcycle manufacturer Harley-Davidson (NYSE: HOG) was a pariah in 2018 as then-president Donald Trump villainized the Company for moving some production overseas to mitigate trade tariffs. While profits sank during the 2020 pandemic, the Company has been profitable for the past five ye... Read the Full Story >> |
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Markets | | | It’s not often that a stock doubles in one week, but Vaxcyte, Inc. (NASDAQ:PCVX) did just that. The small cap biotech company catapulted back to mid-cap land with a stunning 110% surge last week — and may not be done. Intense social media buzz translated to heavy trading activi... Read the Full Story >> |
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Markets | | | No one told Impinj, Inc. (NASDAQ: PI) that 2022 is a down year for technology stocks. Shares of the emerging digital tech innovator are up more than 30% so far — and by its own standards, that’s a relatively ‘weak’ performance. Over the last three calendar years, Imp... Read the Full Story >> |
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From Our PartnersWithin 10 days of taking office, President Trump signed "Executive Order 13771" in an effort to win the battle for what 60 minutes said could be "the most consequential discovery in biomedicine this century." So why did Biden repeal this? | | Click here to learn more > > > |
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Politics | | | BP's earnings more than doubled in the third quarter as the London-based energy giant benefited from high oil and natural gas prices following Russia's invasion of Ukraine. Underlying replacement cost profit, which excludes one-time items and fluctuations in the value of inventories, ... Read the Full Story >> |
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Politics | | | A tropic storm and absences of VIP guests have cast a shadow over a financial conference meant to help Hong Kong restore its image as a financial hub and destination for business travel. The first major conference since the city lifted COVID-19 quarantine restrictions was due to begi... Read the Full Story >> |
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Markets | | | Wondering when Saia (NASDAQ: SAIA) stock could start moving higher? The best answer is any time because this trucker is growing. Saia is a niche operator in the supply chain running a nationwide network of LTL trucking hubs and shipping services. The company has been working hard over the last goi... Read the Full Story >> |
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Tech | | | Johnson & Johnson will spend $16.6 billion to buy cardiovascular technology company Abiomed to strengthen its medical device division. The health care giant said Tuesday that it will pay $380 for each Abiomed share and also provide another $35 per share in cash if some commercial ... Read the Full Story >> |
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Markets | | | Sony said Tuesday its quarterly profit through September rose 24% on healthy demand for its music and movies, prompting the Japanese entertainment and electronics giant to raise its annual sales and profit forecasts. Tokyo-based Sony's July-September profit totaled 264 billion yen, o... Read the Full Story >> |
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The Early Bird Stock Of The DayTuesday: Stock Being Upgraded Gilead Sciences, Inc., a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of li... | | View Today's Stock Pick |
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