Benchmark Global Oil Price Spike Could Keep Inflation High: Analysts

The company is scheduled to release its next quarterly earnings announcement on Thursday, November 16th 2023. We’d like to share more about how we work and what drives our day-to-day business. KEYS’s beta can be found in Trading Information at the top of this page. A stock’s beta measures https://1investing.in/ how closely tied its price movements have been to the performance of the overall market. The Style Scores are a complementary set of indicators to use alongside the Zacks Rank. It allows the user to better focus on the stocks that are the best fit for his or her personal trading style.

The Dow Jones Industrial Average is falling for a second day, with almost 57% of the 30 stocks in the average declining, led by 3M, down 5.9%, Caterpillar, off 2.7% and Dow Inc., lower by 1.7%. Another four stocks (Salesforce, Boeing, Merck and Amgen) were all sliding more than 1%. Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment. The technique has proven to be very useful for finding positive surprises. In fact, when combining a Zacks Rank #3 or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time, while they also saw 28.3% annual returns on average, according to our 10 year backtest. You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer.

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The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities. Saudi Arabia and Russia said the supply cuts are aimed at maintaining stability and balance in the oil markets. Analysts think inflation could stay at higher levels for longer, after a decision by Saudi Arabia and Russia to extend oil production cuts until the end of this year sent prices soaring.

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The idea is that more recent information is, generally speaking, more accurate and can be a better predictor of the future, which can give investors an advantage in earnings season. Saudi Arabia also has its own reasons to want to keep oil prices higher because it needs to pump in massive investment into the Kingdom’s economic transformation project that is aimed at steering its reliance away from oil, Aslam added in his note. But Saudi Arabia and Russia’s keeping their oil supply cuts for longer means « they have no interest in what central banks are worried about, » Naeem Aslam, the chief investment officer of Zaye Capital Markets, wrote in a Tuesday note seen by Insider.

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The carrier halved its operating margin from a forecast earlier this summer to 4% to 5%. The headline number rose 0.6% last month and in line with Dow Jones estimates. Headline prices increased 3.7% on a year-over-year basis, ahead of the 3.6% expected by economists.

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As it is, world oil demand is « scaling record highs » due to strong summer air travel and power generation, according to the International Energy Agency in its August report. While the IEA expects global oil demand to hit 102.2 million barrels a day this year, supply has already fallen to 100.9 million barrels a day in July — indicating a shortfall. OPEC+ had last cut production in April for « the stability of the oil market. » These unilateral supply cuts from both countries are outside the production policy of the Organization of the Petroleum Exporting Countries and its allies, or OPEC+. The deal, announced Wednesday by Commerce Minister Piyush Goyal, comes atop of Tesla’s $1 billion in spending on India-sourced components in 2022.

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Analyst Brett Knoblauch rates the stock an overweight and has a $8.60 price target. 3M was the biggest laggard in the 30-stock Dow, dropping more than 5.7%. Meanwhile, Apple shares declined more than 1%, falling for a second day. Reshoring, or onshoring, has gone from a policy fantasy to a strong possibility.

To see all exchange delays and terms of use please see Barchart’s disclaimer. Keysight Technologies’ stock is owned by many different retail and institutional investors. Ltd Zurich (33.23%), BlackRock Inc. (9.92%), State Street Corp (4.50%), JPMorgan Chase & Co. (2.72%), Geode Capital Management LLC (2.13%) and Mackenzie Financial Corp (2.12%). 364 employees have rated Keysight Technologies Chief Executive Officer Ron Nersesian on Glassdoor.com. Ron Nersesian has an approval rating of 97% among the company’s employees.

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Tech giant Intel is currently the most extended Dow stock, according to research firm Bespoke Investment Group. Investors have been bullish on the tech company amid the AI and semiconductor what are collars rally. Oracle shares could see more pain ahead — even after the stock posted its worst day in more than two decades on the back of earnings, according to JPMorgan.

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The stock tumbled as much as 13% on Wednesday after CBS News Pittsburgh reported that a woman said a medical device that stimulates her brain stopped working after she was scanned by security at PNC Park ahead of a Pittsburgh Pirates baseball game. Cantor Fitzgerald said it sees a pullback in Evolv Technologies stock as an « attractive opportunity » to buy shares of the security screening device manufacturer. « This report interrupts the run of good news [and] makes it more difficult to talk a happy game about inflation, » said Vincent Reinhart, chief economist at Dreyfus and Mellon.

« It doesn’t matter for the upcoming FOMC meeting’s results. They’re not going to act. They have not signaled action. Market participants do not expect action. And that’s because they’ve shifted down the pace of tightening. » August’s core inflation print in the consumer price index increased 0.3% and 4.3% respectively, against estimates for 0.2% and 4.3%. Federal Reserve officials focus more on the core number as it provides a better indication of where inflation is heading over the long term. The Dow Jones Industrial Average fell Wednesday as traders absorbed a hotter-than-expected August core inflation print. A sharp acceleration in revenue and earnings growth makes this stock a top 5G pick. One share of KEYS stock can currently be purchased for approximately $131.89.

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Shares of the media conglomerate started trading this week from the merger of Ultimate Fighting Championship and World Wrestling Entertainment. « As expected, Domino’s announced changes to its loyalty program this morning in conjunction with the start of the fall season and 4Q23, » analyst Peter Saleh said when reiterating his buy rating and top pick call for the pizza chain. « We view this as one of several sales catalysts that should regenerate the company’s prior momentum. » The analyst called the adoption of Wi-Fi 6E « moderately positive » for both Broadcom and Skyworks, while two new 5G should benefit these names, along with Qorvo. He also sees the content growth of antenna tuners and share gains over Broadcom as another slight positive for Qorvo. Goldman Sachs shares rose more than 1% in afternoon trading, making it the second-best performing stock in the Dow Jones Industrial Average.

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KeyCorp (KEY) Dips More Than Broader Markets: What You Should Know

Dow, Inc. and Caterpillar were the next worst performers, with both down more than 1%. « Investor feedback to our Tesla upgrade has skewed towards push-back, » he said in a note to clients Tuesday. Morgan Stanley analyst Adam Jonas knows that his bullish Tesla upgrade earlier this week caught some by surprise. UMB Financial’s stock could get a boost as the Fed’s rate hiking cycle comes to an end, according to Piper Sandler. Meanwhile, Cirrus should experience an uptick in content growth connected to camera upgrades, Vinh said.

Meanwhile, on Monday a Mexico state governor said Tesla would invest $15 billion across two years on its Gigafactory in Nuevo Leon. Tesla and its China-based electric-vehicle competition face potential headwinds as the EU’s European Commission launched a probe into whether vehicles made in China received production subsidies from the Chinese government. Shares of Li Auto (LI), XPeng (XPEV) and Nio (NIO) moved lower on the news. Not all the big tech companies are trading the same, according to Bespoke Investment. Yields and prices move in opposite directions and one basis point equals 0.01%. Spirit Airlines expects negative margins of as much as 15.5% in the three months ending Sept. 30, down from an earlier estimate of -5.5% to -7.5%.