The #MysteryBroker for months has said inflation will be more stubborn than transitory, Treasury yields will rise, value/cyclical stocks will gain relative favor and S&P 500 will be hampered by growth-stock concentration/elevated valuation. He checks in to reiterate this stance.
FWIW, Facebook stock is outperforming the S&P 500 in 2021. S&P is up 19.6% YTD, Facebook up 24% $FB
With taper comes tantrum. The Fed plans to start tapering to the tune of $15 billion a month starting in November. In response, so far, the tantrum has produced a 5% drawdown in the S&P 500, led by the long-duration stocks. pic.twitter.com/DJT1zZswPr
As energy price spikes grip global markets... ...Enphase $ENPH is the best stock in the S&P 500 right now +5.4% ☀️
11 October, 2021 - 01:48pm
The S&P 500 fell 0.3% as of 2:40 p.m. Eastern after rising as much as 0.6% earlier. The Dow Jones Industrial Average fell 146 points, or 0.4%, to 34,593 and the Nasdaq also fell 0.1%.
The price of U.S. crude oil rose 1.5% to over $80 a barrel.
Bond trading was closed for the Columbus Day holiday.
Investors are looking ahead to the beginning of company earnings this week. Analysts have said that the latest round of corporate results could help give the market more direction after several choppy weeks. Stocks have been swaying between between gains and losses as investors try to better gauge the direction of the economic recovery through the rest of the year.
Banks will be among the first big companies to report their latest financial results and give investors more insight into how companies are faring amid concerns over the lingering virus pandemic and rising inflation.
JPMorgan Chase delivers its results on Wednesday. Bank of America, Wells Fargo and Citigroup will report results on Thursday.
Delta Air Lines will report its latest results on Wednesday. The airline industry is still struggling to recover from the pandemic shutdowns that began 18 months ago. Investors will be closely monitoring the industry's results to see how much of an impact the summer surge of COVID-19 cases had on the industry.
Wall Street faced a quiet day of corporate news ahead of earnings. Southwest Airlines fell 3.3% after dealing with hundreds of flight cancellations over the weekend. Toymaker Hasbro fell 0.8% after announcing that CEO Brian D. Goldner is taking a medical leave of absence.
Investors are also looking ahead to economic data this week that could shed more light on what's going on with inflation. The Labor Department will release its Consumer Price Index on Wednesday and its Producer Price Index on Thursday. The reports detail pressure from inflation on consumers and businesses.
Companies from a wide range of industries have warned investors that supply chain problems and higher raw materials costs could crimp their financial results for the rest of the year. Wall Street is closely monitoring whether those higher costs and resulting higher prices for goods will hurt consumer spending, which is a key driver of economic growth.
Inflation will likely remain the dominant theme swirling over markets through 2021 and into 2022, said Jay Hatfield, CEO of Infrastructure Capital Advisors. The upcoming Consumer Price Index data on Wednesday is likely going to be hotter than Wall Street expects, he added.
“Right when you’re going into earnings you have this CPI bomb that could go off,” he said. “We have a demand problem and a supply problem; there are too many dollars chasing too few goods.”
Damian J. Troise, The Associated Press
And you can haunt your own house by putting these terrifying figures into your space using Yahoo's immersive augmented reality.
NEW YORK, Oct. 11, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Owlet, Inc. (“Owlet” or the “Company”) (NYSE: OWLT). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980. The investigation concerns whether Owlet and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On October
A federal judge said prison staffing levels can remain an issue in the U.S. Department of Justice's lawsuit against Alabama, but said federal officials must provide more details behind some of their allegations. U.S. District Judge David Proctor, in a mixed ruling for the state Friday, agreed with state lawyers that the Justice Department's allegations of unsafe and unsanitary conditions were overly broad. The U.S. Department of Justice last year sued Alabama saying state prisons violate the ban on cruel and unusual punishment because of high levels of inmate-on-inmate violence, excessive use of force by correctional staff, and unsafe and unsanitary conditions.
ST. PETERSBURG, Fla., Oct. 11, 2021 (GLOBE NEWSWIRE) -- Building on its industry-leading succession and acquisition planning support for financial advisors, Raymond James has launched “Practice Exchange,” a robust and holistic succession planning platform for Raymond James advisors, according to Robert Goff, vice president, Succession & Acquisition Planning at Raymond James. Practice Exchange, a cloud-based tool powered by FindBob, is designed to bring clarity and ease to the succession planning
NEW YORK, Oct. 11, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of First High-School Education Group Co., Ltd. (“First High-School Education Group” or the “Company”) (NYSE: FHS). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980. The investigation concerns whether First High-School Education Group and certain of its officers and/or directors have engaged in securities fraud or other unlawful busi
Spencer Rattler was benched in favor of Caleb Williams during Oklahoma's come-from-behind win over Texas.
SAN FRANCISCO, Oct. 11, 2021 (GLOBE NEWSWIRE) -- Hagens Berman urges Katapult Holdings, Inc. (NASDAQ: KPLT) investors and FinServe Acquisition Corp. (NASDAQ: FSRV) investors with significant losses to submit your losses now. Class Period: Dec. 18, 2020 – Aug. 10, 2021Lead Plaintiff Deadline: Oct. 26, 2021Visit: www.hbsslaw.com/investor-fraud/KPLT Contact An Attorney Now: KPLT@hbsslaw.com 844-916-0895 Katapult Holdings, Inc. (KPLT/FSRV) Securities Fraud Class Action: The complaint alleges that le
NEW YORK, Oct. 11, 2021 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating consumer claims for violation of consumer protection statutes by Lemonade, Inc. (NYSE: LMND) (“Lemonade” or the “Company”). If you are a Lemonade customer and have submitted a video to Lemonade to make an insurance claim, you should contact Lowey Dannenberg attorneys at (914) 733-7256 or via email at firstname.lastname@example.org. Lemonade is an i
Alejandra Rositto joins the Italian luxury company from Fendi.
NEW YORK, Oct. 11, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Summit Therapeutics Inc. (“Summit” or the “Company”) (NASDAQ: SMMT). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980. The investigation concerns whether Summit and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class ac
NEW YORK, Oct. 11, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Peak Fintech Group Inc. (“Peak” or the “Company”) (OTCMKTS: PKKFF). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980. The investigation concerns whether Peak and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class actio
"I am feeling better every week, improving every day," Rob Gronkowski also tells PEOPLE about his recovery after he endured rib and lung injuries
While Shannen Doherty and Jennie Garth shared photos, Tori Spelling wrote that Perry was her "brother."
Bedfordshire Police said the casualties had been confirmed following ‘highly complex work’ by emergency services.
New York, New York--(Newsfile Corp. - October 11, 2021) - The Law Offices of Vincent Wong announce that a class action lawsuit has commenced in the on behalf of investors who purchased Live Ventures Incorporated ("Live Ventures") (NASDAQ: LIVE) between December 28, 2016 and August 3, 2021.If you suffered a loss, contact us at the link below. There is no cost or obligation to you.https://www.wongesq.com/pslra-1/live-ventures-incorporated-loss-submission-form?prid=20305&wire=5Allegations against L
NEW YORK, Oct. 11, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of S&P Global Inc. (“S&P Global” or the “Company”) (NYSE: SPGI). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980. The investigation concerns whether S&P Global and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class actio
Tar Heels to be featured on Nothing But Net and All ACC studio shows on the network.
STOCKHOLM (AP) — A U.S.-based economist won the Nobel prize in economics Monday for pioneering research that transformed widely held ideas about the labor force, showing how an increase in the minimum wage doesn’t hinder hiring and immigrants don't lower pay for native-born workers. Two others shared the award for developing ways to study these types of societal issues. Canadian-born David Card of the University of California, Berkeley, was awarded half of the prize for his research on how the m
G2 Scores Products Based on Reviews and Data Aggregated From Online Sources and Social NetworksCHICAGO and STOCKHOLM, Sweden, Oct. 11, 2021 (GLOBE NEWSWIRE) -- Tacton, a global leader in CPQ-based Smart Commerce solutions for manufacturers, today announced it has been identified as a Leader and one of the best enterprise CPQ software solutions for Fall 2021, based on its high levels of customer satisfaction and likeliness to recommend ratings from real users on G2, the world’s largest and most t
10 October, 2021 - 05:03pm
U.S. stocks churned to start the week Monday as investors weighed surging oil prices, economic worries and major third-quarter earnings results ahead.
The Dow Jones Industrial Average shed about 205 points, or 0.6%. The blue chip average was up more than 200 points at its intraday high. The S&P 500 ticked down 0.5%. The Nasdaq Composite traded 0.4% lower.
"What we're seeing right now is the market trying to grapple and come to terms with how to interpret all these inputs," Plexo Capital Managing Partner Lo Toney said on CNBC's "TechCheck." "It's going to take a little bit of time for things to settle out."
U.S. oil benchmark WTI crude oil topped $82 a barrel at its session highs before trading around $80 Monday. The surging prices added to looming concerns about inflation.
"High or rapid increase in energy costs have triggered recessions in the past and there is a possibility that history could repeat itself if energy prices continue to rise. Higher energy prices result in lower disposable income for consumers," Bernstein's Neil Beveridge said in a Monday note.
Energy stocks gained for most of the session as oil prices jumped, but also rolled over with the broader market into the close.
Meanwhile, Goldman on Monday cut its U.S. economic growth forecast. The firm lowered its 2022 growth estimate to 4% from 4.4% and took its 2021 estimate down a tick to 5.6% from 5.7%. The firm cited the expiration of fiscal support from Congress and a slower-than-expected recovery in consumer spending, specifically services.
"For activities like going to a movie theater, many individuals don't anticipate resuming normal spending patterns for at least another 6 months, suggesting a full normalization in economic activity may take some time," Goldman economist Joseph Briggs said in a note.
This week, major banks will kick off their third-quarter earnings reports. JPMorgan posts results Wednesday, with Goldman Sachs, Bank of America, Morgan Stanley, Wells Fargo and Citigroup following later in the week. Delta Airlines and Walgreens Boots Alliance reports are also on deck.
Investors will be looking for insights into supply chain challenges, particularly going into the holiday shopping season.
Analysts estimate an earnings growth rate of 27.6% for the S&P 500 in the third quarter, which would be the third-highest growth rate since 2010.
After a 4.8% loss in September, the S&P 500 is up more than 1% for the month of October and sits more than 3% from its record.
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