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Bloomberg
Volatility Is Only Certainty for Stocks With Inflation Data Due
(Bloomberg) — Stocks have been rocked by inflation data lately as markets try to gauge where the Federal Reserve stands on rate hikes. With a key consumer price index reading on tap Thursday morning, investors are bracing for one thing — more volatility.Most Read from BloombergIntel Is Planning Thousands of Job Cuts in Face of PC SlumpHere’s How Weird Things Are Getting in the Housing MarketPutin Says All Infrastructure at Risk After Nord Stream HitAlex Jones Must Pay $965 Million for His Sand
Barrons.com
Avoiding Global Recession Is Tough Enough. A Disruptive OPEC Makes It Harder.
OPEC’s cut in oil production provoked the ire of President Biden. The controversial move inflamed the International Energy Agency (IEA), which warned Thursday it could be the final straw that sends the global economy into recession. Brent crude prices surged $13 a barrel last week, approaching $100 at one point, as the cartel of oil producing nations confirmed its 2 million barrels a day cut from November.
Bloomberg
Ukraine Latest: Drone Strikes Near Kyiv; Putin-Erdogan Meeting
(Bloomberg) — President Recep Tayyip Erdogan met Thursday with Russia’s Vladimir Putin in Kazakhstan, where the pair discussed a potential Turkish gas hub. Before the meeting Erdogan said Ankara’s goal is to help stop the “bloodshed” in Ukraine, and that “a fair peace can be achieved through diplomacy.” More grain vessels sailed Thursday under the safe-transit deal that Turkey helped to broker. Most Read from BloombergIntel Is Planning Thousands of Job Cuts in Face of PC SlumpHere’s How Weird T
Reuters
Bridgewater’s Dalio warns of a ‘perfect storm’ for economy
Ray Dalio, the billionaire investor who built Bridgewater Associates into one of the world’s biggest hedge funds, said a “perfect storm” is forming that will spread economic pain as the U.S. Federal Reserve raises interest rates. “I don’t know whether that’s 4.5% or the economy could not take an interest rate much higher than that before it’s going to be negative.”
Reuters
IKEA reports record sales as price hikes offset weakening consumer confidence
STOCKHOLM (Reuters) -Budget furniture giant IKEA reported record high annual sales on Thursday as price hikes and easing effects from the pandemic made up for supply shortages, weakening consumer confidence and its exit from Russia. Inter IKEA, franchiser for the world’s biggest home furnishing brand, said sales at all IKEA stores and online grew 6.5% in the 12 months through August, or 3.5% measured in local currencies, to 44.6 billion euros ($43.3 billion). “In addition, supply chain shortages made it difficult to keep IKEA shelves full,” it said.
Bloomberg
Inflation Data Calling the Shots as Market Correlations Snowball
(Bloomberg) — Quant or a stock picker, retail or pension fund manager, everyone is a macro trader in this inflation-driven era — and it’s only getting worse. Most Read from BloombergIntel Is Planning Thousands of Job Cuts in Face of PC SlumpHere’s How Weird Things Are Getting in the Housing MarketPutin Says All Infrastructure at Risk After Nord Stream HitAlex Jones Must Pay $965 Million for His Sandy Hook LiesUS Core Inflation Seen Returning to 40-Year High as Rents RiseThe link between the S&
Motley Fool
Why AMD Stock Looks Too Good To Pass Up
AMD’s preliminary Q3 results contributed to a massive sell-off in the stock, but many believe this reaction was overblown.
Associated Press
Los Angeles leader in racism scandal resigns Council seat
The former president of the Los Angeles City Council resigned from public office Wednesday, three days after a recording surfaced of her making racist remarks in a meeting that is now the subject of a state investigation. Nury Martinez, the first Latina to hold the top post on the council, announced her decision in a press release following a groundswell of outrage and calls for the resignations of her and two other council members involved in the conversation recorded last year. The announcement was made several hours after Attorney General Rob Bonta said he would investigate Los Angeles’ redistricting process that the three council members discussed with a labor leader in which they schemed to protect Latino political strength in council districts.
Bloomberg
US Futures Sink as Inflation Beat Seals Jumbo Hike: Markets Wrap
(Bloomberg) — US stock futures plunged and Treasury yields spiked after a hot inflation reading all but assured another large Federal Reserve rate increase.Most Read from BloombergIntel Is Planning Thousands of Job Cuts in Face of PC SlumpHere’s How Weird Things Are Getting in the Housing MarketPutin Says All Infrastructure at Risk After Nord Stream HitAlex Jones Must Pay $965 Million for His Sandy Hook LiesThe S&P 500 sank more than 1.5% after wiping out overnight gains. The index is already a
Yahoo Finance UK
FTSE rises as investors await US inflation data
All eyes will be on the upcoming US consumer price figures. Minutes released on Wednesday from the Fed’s last meeting suggested some officials considered reducing the pace of rate hikes.
The Wall Street Journal
Moderna Stock Jumps After Cancer Vaccine Announcement
Shares of Moderna surged more than 11% on Wednesday after the biotech company [announced](https://investors.modernatx.com/news/news-details/2022/Merck-and-Moderna-Announce-Exercise-of-Option-by-Merck-for-Joint-Development-and-Commercialization-of-Investigational-Personalized-Cancer-Vaccine/default.aspx) it would develop and sell a personalized cancer vaccine with Merck. The stock was the biggest gainer on the S 500 around midday. Shares of Merck were little changed. Merck will pay Moderna $250 m
Motley Fool
Selling AMC Stock Could Be a Genius Move
If you bought $1,000 worth of AMC Entertainment Holdings (NYSE: AMC) stock at its all-time high of $62 in June 2021, you would have roughly $100 today — a decline of 90%. While the movie theater operator seems to be recovering nicely from the COVID-19 pandemic in 2020 and 2021, massive levels of equity dilution could leave investors holding the bag. At the height of the crisis in 2020, AMC’s revenue collapsed by 77% to $1.24 billion against the prior year, and it lost $4.59 billion.
