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Global Markets Sell-off Intensifies as U.S. Averages Extend Losses

Sep 23, 2022
Barry Adams
Major averages on Wall Street extended losses on the fourth day and are set to close down for the second week in a row. Crude oil and natural gas prices eased on recession worries and the U.S. dollar advanced to a new 2-year high.

Yields Rise, Stocks Fall On Worries of Recession Before Breaking Inflation

Sep 22, 2022
Barry Adams
Stocks fell on the worries that high inflation is still ruling the economy after five rate hikes over six months and more hikes may just dip the economy to a recession without breaking the back of inflation.

Darden, Parent of Olive Garden and Seasons 52, Same Store Sales Up 4.2%

Sep 22, 2022
Scott Peters
The parent of Yard House and Bahama Breeze reiterated its fiscal 2023 outlook and estimated price increase of 6% across all brands. Quarterly net income declined on rising cost of food and labor.

DRI

European Markets Drop 2%, Switzerland, Norway, UK Lift Rates

Sep 22, 2022
Bridgette Randall
Switzerland stepped out of the negative rate regime after inflation jumped to 3-decade high last month. Norway indicated future rates are likely to be moderate. The UK rates are still lagging by a wide margin to consumer price inflation.

U.S. Stocks Look Down as Yields Stay Above 4%

Sep 22, 2022
Barry Adams
Stocks on Wall Street accelerated declines as investors digest the implications of recent large rate hikes and future rate paths. The Fed reiterated its commitment to bring down inflation but six months of monetary tightening is having a minimal impact on inflation.

Stocks On Wall Street Plunge After Rate Hike and Projections

Sep 21, 2022
Barry Adams
The Federal Reserve lifted rates by a large amount for the third time in a row, sharply lowered its 2022 growth outlook and revised higher unemployment rate estimate. The interest rates are likely to go up by least another 125 basis points by the end of 2022.

Fed Hikes Rates by 75 Basis Points, Third Large-size Increase

Sep 21, 2022
Brian Turner
The Federal Reserve increased the key lending rate by 75 basis points for third time in a row and revised the fed funds target range between 3% and 3.25%. The Fed held out for more ongoing rate increases in the target range.



Movers: Apogee, Aurora Cannabis, Beyond Meat, Chemours, General Mills, Stitch Fix

Sep 21, 2022
Barry Adams
Apogee Enterprises lifted its annual outlook. Chemours lowered its annual view. Stitch Fix swung to a quarterly loss and a decline in revenues.

APOG BYND GIS ACB CC SFIX

Stocks Advance as Fed Battles Inflation and Diminished Credibility

Sep 21, 2022
Barry Adams
Stocks on Wall Street traded higher with all eyes on Fed's rate decision and comments on future rate paths. Fed is not only battling sky-high inflation but also its diminished credibility in tackling rapid price increases.

Bond Yields Rise Ahead of Rate Decision, Stocks Fall

Sep 20, 2022
Barry Adams
Treasury yields rise ahead of the Fed's rate-hike decision on Wednesday. and investors seek a deeper understanding of the future rate path and inner workings of the economy.

Movers: Change Healthcare, Cognex, Ford, General Motors, Humana, MicroStrategy, Oxford Industries

Sep 20, 2022
Barry Adams
Oxford, the parent of Tommy Bahama, lifted its annual earnings and sales outlook. Ford said costs are running ahead of expectation this quarter. A federal judge rejected Optum's plan to acquire Change Healthcare.

CHNG F HUM OXM CGNX GM MSTR

Oxford, Parent of Tommy Bahama and Lilly Pulitzer Lifts Outlook

Sep 20, 2022
Scott Peters
Oxford acquired California-based Johnny Was and lifted sales and adjusted earnings outlook for the fiscal third quarter and 2022.

OXM

Rate Anxieties Drag Major Averages 1%, Building Permits Fall

Sep 20, 2022
Barry Adams
Benchmark indexes drop 1% ahead of the rate decision tomorrow. Housing starts rose but less volatile building permits fell.

Autozone Same Store Sales Rise 6.2%

Sep 19, 2022
Scott Peters
Autozone expands its store network and revenues and earnings rose at a steady pace in the quarter. Stockholders' deficit surged as the retailer bought back its own stock using borrowed sums.

AZO


Stocks, Bond Yields and U.S. Dollar Advance

Sep 19, 2022
Barry Adams
Stocks closed higher and the yield on 10-year Treasury notes closed at a 11-year high. The U.S. dollar advanced ahead of the interest rate decision on Wednesday.