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🚀 Why Powell’s Optimism Could Be a Game-Changer for the Fed
Plus, the companies enjoying insider support, and more
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Hello Thursday! Markets rallied on Powell’s upbeat view of the economy, but cautious Fed rate cuts could slow momentum if inflation progress falters or labor markets weaken. Meanwhile, take a look at the companies benefiting from insider buys.
—Josh Enomoto
Plus, if you’re interested in directional wagers on index options, check out today’s sponsor.
MARKET RECAP
Yesterday: Stocks climbed as tech and consumer discretionary sectors led gains, despite softer private job growth and slowing services activity. Salesforce shares soared 10% on strong earnings, while global markets digested political turmoil in France and South Korea.
On Our Radar: After digesting the initial jobless claims and U.S. trade deficit reports from earlier in the morning, investors will look to Richmond Fed President Tom Barkin’s comments. In the earnings spotlight will be Ulta Beauty, which can provide another signal of consumer health.
TOP STORY
Fed Chair Jerome Powell called the U.S. economy “remarkably good,” signaling room for cautious rate cuts ahead.
FIVE ZINGERS
Brazen Hit: Wall Street is reeling from the New York City killing of UnitedHealthcare CEO Brian Thompson, in what police believe to be a preplanned attack. Read what actions officials are urging the public to take.
Liberté Lost: The French government collapsed yesterday after a successful no-confidence vote, sending the eurozone’s second-largest economy into chaos. Learn about the next challenge awaiting France’s President and French stocks.
Kinked Armor: Although the equities arena has been strong, the pace of monthly employment growth among domestic private businesses slowed in November. Here are the sectors to look at.
Discount Rally: After struggling badly over the past 52 weeks, discount retailer Dollar Tree posted adjusted Q3 EPS of $1.12, beating the consensus view of $1.07. Take a look at what management says comes next.
Clocking Out: Tesla CEO Elon Musk has set his sights on abolishing daylight saving time as a directive under the Department of Government Efficiency. Discover the potential impact for society with this proposed change.
SPECIAL OFFER
Editor’s Note: Every Thursday, Benzinga Edge members receive the C-Suite Buy of the Week, a report by Tim Melvin detailing the insider buying that, unlike most, is actually worth paying attention to. Here’s a sneak peek at last week’s:
Hopefully, when you receive this, I will be elbow-deep in turkey and stuffing.
Thanksgiving is my favorite holiday, and the house will be full of food, festivities, family, and friends—and I will not be obligated to buy gifts for any of them.
I hope you and yours are gathered to celebrate the day as we kick off what will hopefully be a wonderful holiday season.
Over the last few weeks, we have discussed different kinds of C-suite executives buying stocks. As I do every quarter, I checked in with the bosses for some of the best money ideas that can help you, names no one has ever heard of, and brought you some ideas that can help you stack profits towards your long-term goals.
This week, we will switch back to the C-suite of operating businesses and examine which companies receive strong buying interest from top executives.
BEFORE YOU GO
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