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Although the Federal Reserve announced a 50-basis-point interest rate hike last week, breaking a series of four consecutive 75-basis-point rate hikes, officials indicated plans to keep raising rates through next year, with no decreases until 2024. According to its median prediction, the terminal rate might reach 5.1% in 2023. Amid consecutive rate hikes, recession odds […]

While it has been an unfavorable year for growth stocks, food processing major Archer-Daniels-Midland Company (ADM) has gained 39.5% in price year-to-date and 45.4% over the past year to close the last trading session at $94.27. Despite the uncertain macroeconomic environment, ADM’s EPS and revenue beat analyst estimates in the third quarter. Its EPS was

Central bankers worldwide have warned they will have to hold interest rates at higher levels for longer despite recent progress in the fight against inflation. Following the Fed’s indication of more rate hikes next year, the risk of a recession has increased notably. In addition, the Federal Reserve predicted in its economic forecast that the

The Fed is likely to keep hiking rates well into 2023. Amid the possibility of persistent monetary tightening, economists have projected a 70% chance of U.S. recession in 2023. Bill Adams, the chief economist at Comerica Bank, said, “The US economy is facing big headwinds from surging interest rates, high inflation, the end of fiscal

As yet another indication of a sea change in the macro-economic environment, the Bank of Japan signaled a shift in its monetary stance today by announcing that the 10-year government bond yield can go as high as 0.5%, up from the previous cap of 0.25%. With the era of easy money in the rear-view mirrors,

Several countries enhanced their defense spending with the Russia and Ukraine war causing heightened geopolitical tensions. Among others, the European Union is targeting a €70 billion rise in defense spending over the next three years. The demand for U.S.-made firearms, military aircraft, explosives, and vehicles has surged significantly. The defense industry is expected to grow

The pharmaceutical industry flourished during the COVID-19 pandemic. Amid surging medical needs worldwide, the pharmaceutical industry is expected to witness continued growth. For October 2022, pharmaceuticals and medicines manufacturing shipments came in at $22.52 billion, up from $22.48 billion in September 2022. Moreover, overwhelming drug demand is expected to bode well for the pharmaceutical industry.

Spirit Airlines, Inc. (SAVE) registered $1.34 billion in total revenues for the 2022 third quarter, up 45.6% year-over-year. However, it missed consensus revenue estimates by $3.10 million. High airfares and pent-up travel demand in the post-pandemic era have helped the airline industry record significant gains of late. However, amid rising recession odds, demand might falter

The Fed raised interest rates by 50 bps yesterday, thereby taking the benchmark interest rate to the highest level in 15 years. However, it represented a slowdown from the four consecutive 75-bps hikes earlier. Fed Chair Jerome Powell said, “Inflation data received so far for October and November show a welcome reduction in the monthly

The broader market has taken a beating this year due to various macroeconomic and geopolitical headwinds, including sky-high inflation, the economic fallout from Russia’s invasion of Ukraine, and increasing recessionary fears. The S&P 500 is down 16.2% year-to-date, while the Nasdaq Composite has plunged 28.6%. The Federal Reserve yesterday increased its benchmark interest rate by