Shares of Lucid Group (NASDAQ: LCID) rocketed up by almost 100% in one day on speculation it would be taken over. The rumor centers on Saudi Arabia’s Public Investment Fund, which owns more than 60% of the company. According to reports, the fund is working with a major bank, possibly JPMorgan, on a deal for the cash. This is on top of growing speculation the fund, which has been very supportive of its investments in the past, would take on a more substantial role, and it looks like that is a real possibility. The stock was halted numerous times due to the sharp spike in volatility whi....
Equity markets advanced on Friday and for the week on signs that inflation is cooling. The takeaway from the data is that inflation has cooled versus last year but remains hot in the present and trending above the Fed's target rate. In this light, the PCE price index news is questionable and ultimately not good news for the market. With inflation still hot and FOMC interest rates rising, the outlook for S&P 500 earnings continues to decline.
This week will be another pivotal week for the market, with reports from over 100 S&P 500 companies on deck and the NFP report on Friday. The NFP report is expected to confirm strength in the labor market and wage inflation, which should keep the FOMC on its toes. In regard to the NFP, the news of the week will come on Wednesday when the committed issues its next policy adjustment. The market is expecting a 25 bps hike but could be surprised by a hawkish commentary, if not another 50 basis point interest rate hike.
Shares of Lucid Group (NASDAQ: LCID) rocketed up by almost 100% in one day on speculation it would be taken over. The rumor centers on Saudi Arabia’s Public Investment Fund, which owns more than 60% of the company. According to reports, the fund is working with a major bank, possibly JPMorgan, on a deal for the cash. This is on top of growing speculation the fund, which has been very supportive of its investments in the past, would take on a more substantial role, and it looks like that is a real possibility. The stock was halted numerous times due to the sharp spike in volatility whi...
Even in the worst of times, markets have rallied back. Just as they always have. So, if you're thinking of quitting the market, don't. There are plenty of bargains and hot investing ideas to jump on. In fact, here are five of our best ideas for 2023.
In October of 2022, the Consumer Price Index was up 7.7% from the same time the previous year. Shelter, food, and gasoline prices are leading the way, which we're all bearing the brunt of. Inflation has all kinds of side effects for individuals and for businesses, particularly businesses that are just getting started.Prices for most things you need to run your business are up, which can really eat into your profit margin. However, customers are buying less as well, so the total impact comes from both costs that are up and sales that are down.On top of inflation, a recession may also be on the horizon, making consumers cut back on spending even more.
Chugga chugga choo choo… The classic train sound is produced by steam escaping the locomotive at each stroke of the engine’s cylinder. For railroad stocks, it’s the sound of escaping 2022 relatively unscathed. The group’s 8% decline paled in comparison to S&P 500’s 19% slide. And on the heels of 20%-plus gains in each of the three prior years, the railroad industry keeps chugging along — it is already up 3% year-to-date. It's as if Warren Buffett knows what he’s doing. In an age of artificial intelligence, Internet-of-Things devices and other emerging technologies, railroad companies are quietly delivering solid shareholder returns.
For all the sound and fury about raising the nation's debt limit, most economists say federal borrowing is not at a crisis point ... at least not yet. The national debt is at the core of a dispute about how to raise the government's legal borrowing authority, a mostly political argument that could turn into genuine financial trouble this summer if the U.S. runs out of accounting maneuvers to keep paying its bills. House Speaker Kevin McCarthy insists that the debt, so huge it defies most people's grasp, is already breaking the economy. President Joe Biden counters...
Not long ago, analysts fretted that chip equipment makers, such as ASML Holding N.V. (NASDAQ: ASML) would face steep revenue declines because of restricted trade with China. ASML recently restated those concerns by beating Wall Street views for fourth-quarter earnings and sales. It also boosted its guidance for the current quarter. The Netherlands-based mega-cap reported a net income of $4.92 per share on revenue of $6.883 billion. Researcher FactSet’s said the consensus estimate called for earnings of $4.62 per share on revenue of $6.74 billion. For the current quarter, the c...
Stocks are drifting Friday as a strong week for Wall Street appears to be heading for a quiet close. The S&P 500 was 0.3% higher after flipping between small gains and losses through the morning. It's on pace for its third winning week in the last four and near its highest level since the start of December. The Dow Jones Industrial Average was up 67 points, or 0.2%, at 34,020, as of 1:22 p.m. Eastern time, while the Nasdaq composite was 0.9% higher. Helping to lead the way was American Express, which jumped 12.1% despite reporting weaker profit and revenue for the latest quarter than expected.
After having tagged a 52-week low last November, and failing to break below it during this month’s dip, the momentum in Microsoft Corp’s (NASDAQ: MSFT) shares has swung the other way. They’ve jumped 15% since the start of the month and has set a higher low, are close to setting a higher high. This would confirm the bull thesis that’s been strengthening all month and point to brighter days ahead for the tech giant. Having watched their shares fall as much as 40% from 2021’s all-time high, this will be a welcome turn of events for investors. Let’s ta...
Shares in India's Adani Group have plunged up to 20% and the company said it was considering legal action against U.S.-based short-selling firm Hindenburg Research for allegations of stock market manipulation and accounting fraud that led investors to dump its stocks
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