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Top Stock Market News For Today May 10, 2022

Stock futures are edging higher as traders ride recovery momentum.
The post Top Stock Market News For Today May 10, 2022 appeared first on Stock Market…

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Stock Market Futures Rise Following Steep Declines During Previous Days Session

U.S. stock futures are in the green in early morning trading today. This would not be all that surprising seeing as the broader stock market slid towards 2021 lows yesterday. In particular, the S&P 500 retreated by over 3% by the closing bell, ending below 4,000, its lowest since March 2021. Providing an overview on all this is the head of investment management over at Commonwealth Financial Network, Brian Price. He starts by writing, “The market is void of major positive catalysts right now, so it is not surprising that we’re starting the week off under pressure.

Speaking on this further, Price argues, “Another catalyst that could be causing some risk aversion as of late is a fairly underwhelming earnings season,” This, according to the analyst, would be the case versus the past few quarters where growth names thrived. Now, as more macroeconomic pressures weigh in on firms across the board, slowdowns appear to be setting in. From earnings misses and lackluster outlooks, this is becoming increasingly apparent. Nonetheless, there remains plenty of stock market news to keep investors busy today as well. As of 4:11 a.m. ET, the Dow, S&P 500, and Nasdaq futures are trading higher by 0.68%, 0.86%, and 1.40% respectively.

Bitcoin Falls Below $30,000 Mark For First Time Since July 2021; El Salvador Buys The Dip

On the cryptocurrency front, Bitcoin (BTC) is feeling the heat at the start of this week. Late on Monday, the leading digital currency dipped below the $30,000 per coin level. Sure, volatility is part and parcel of the overall Bitcoin experience. However, this marks a notable threshold that would have some of the most devout crypto enthusiasts sweating. In fact, the last time Bitcoin was trading at that price point was in July 2021. For reference, this would be over 55% since the currency’s all-time high of about $69,000 back in November 2021. With even the premier cryptocurrency titan experiencing massive sell-offs alongside stocks, Bitcoin would be in the news now.

Despite the current turbulence, the country of El Salvador is doubling down on its Bitcoin investments. In detail, a tweet from President Nayib Bukele revealed that El Salvador bought another 500 bitcoins. The likes of which are worth about $15.5 million. Notably, this marks the largest Bitcoin purchase for the country since September 2021. Following this move, El Salvador’s total Bitcoin count is now at 2,301 bitcoins, adding up to about $71.7 million. All in all, even amidst downturns, the crypto train continues to chug along. The question now is whether we are looking at a bottom here for Bitcoin, or not.

BTC price
Source: TradingView

Occidental Petroleum Earnings Preview: Should Investors Be Following Buffett?

Occidental Petroleum (NYSE: OXY) is set to report its first fiscal quarter financials after today’s closing bell. Because of this, investors would likely be tuning in to the increasingly popular oil and gas firm now. Overall, Wall Street analysts seem to have high expectations for the company this quarter. As it stands, current estimates point towards an earnings per share of $2.03. To put things into perspective, this would be a massive jump from Occidental’s loss per share of $0.15 in the same quarter last year. Additionally, consensus projections are also guiding for a total revenue of $8.06 billion for the quarter. Should this be the case, it would add up to a 47% year-over-year jump.

Aside from high Wall Street expectations, OXY stock is also receiving plenty of attention from Warren Buffett’s Berkshire Hathaway (NYSE: BRK.A). Just last week, the Oracle of Omaha personally put in the order to purchase another 5.9 million shares of the company. As a result, Berkshire now has a 15.2% stake in Occidental. On the whole, this adds up to 142.3 million shares worth around $8.8 billion. Even as OXY stock is looking at gains of over 80% year-to-date, some analysts see further upside. For instance, Stifel (NYSE: SF) analyst Michael Scialla currently has a Buy rating and an $84 price target on OXY stock. The analyst cites Occidental’s low-carbon air capture business as a key potential growth catalyst. After considering all this, I could see investors keeping an eye on OXY stock today.

OXY stock
Source: TradingView

AMC In Focus After Reporting Best Pandemic-Era Quarterly Financials;

Among the gainers during yesterday’s mostly red trading session would be AMC Entertainment (NYSE: AMC). For the most part, the theater management goliath-turned meme stock has its latest earnings to thank for this. Diving in, AMC is looking at a quarterly revenue of $785.7 million, topping consensus projections of $743.4 million. Year-over-year, this represents a massive leap of 429%. In terms of net income, AMC also managed to narrow its losses to $337.4 million from year-ago losses of $567.2 million. In the larger scheme of things, it seems that the company continues to recover as moviegoers return to cinemas.

Speaking on the company’s performance is CEO Adam Aron. He highlights, “Our results for the first quarter of 2022 represent AMC’s strongest first quarter in two full years. We continue on our pandemic recovery trajectory, more than quintupling revenues and improving adjusted EBITDA by nearly eighty percent compared to a year ago. The significant progress AMC has made is very rewarding, as our guests continue to recognize the unparalleled movie-going experience offered by AMC.” Among the major growth drivers for the past two quarters would be blockbuster superhero movies from Disney (NYSE: DIS) and Warner Bros. Discovery (NASDAQ: WBD).

Looking forward, Aron also notes that AMC’s “operating and capital allocation priorities remain unchanged.” He also adds that AMC is planning to invest in its core operations while exploring “transformative value-creating investment opportunities.” With AMC’s current momentum in mind, some would argue that AMC stock could have more room to run.

AMC stock
Source: TradingView

Other Major Stock Market Earnings To Know Today

Not forgetting, here are several other big players set to report their earnings today. For the pre-market hours, we have Peloton (NASDAQ: PTON), Norwegian Cruise Line (NYSE: NCLH), Sysco (NYSE: SYY), Li Auto (NASDAQ: LI), and Cronos (NASDAQ: CRON) among others.

On the flip side, there are numerous notable tech names hosting earnings calls after the closing bell. This includes Roblox (NYSE: RBLX), TheTradeDesk (NASDAQ: TTD), Coinbase (NASDAQ: COIN), Sofi (NASDAQ: SOFI), and Unity (NYSE: U). Aside from that, Wynn Resorts (NASDAQ: WYNN) will also be releasing its first-fiscal quarter financials at the same time. With all this going on now, there seems to be no shortage of excitement in the stock market today.

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The post Top Stock Market News For Today May 10, 2022 appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.com.

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The Coming Of The Police State In America

The Coming Of The Police State In America

Authored by Jeffrey Tucker via The Epoch Times,

The National Guard and the State Police are now…

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The Coming Of The Police State In America

Authored by Jeffrey Tucker via The Epoch Times,

The National Guard and the State Police are now patrolling the New York City subway system in an attempt to do something about the explosion of crime. As part of this, there are bag checks and new surveillance of all passengers. No legislation, no debate, just an edict from the mayor.

Many citizens who rely on this system for transportation might welcome this. It’s a city of strict gun control, and no one knows for sure if they have the right to defend themselves. Merchants have been harassed and even arrested for trying to stop looting and pillaging in their own shops.

The message has been sent: Only the police can do this job. Whether they do it or not is another matter.

Things on the subway system have gotten crazy. If you know it well, you can manage to travel safely, but visitors to the city who take the wrong train at the wrong time are taking grave risks.

In actual fact, it’s guaranteed that this will only end in confiscating knives and other things that people carry in order to protect themselves while leaving the actual criminals even more free to prey on citizens.

The law-abiding will suffer and the criminals will grow more numerous. It will not end well.

When you step back from the details, what we have is the dawning of a genuine police state in the United States. It only starts in New York City. Where is the Guard going to be deployed next? Anywhere is possible.

If the crime is bad enough, citizens will welcome it. It must have been this way in most times and places that when the police state arrives, the people cheer.

We will all have our own stories of how this came to be. Some might begin with the passage of the Patriot Act and the establishment of the Department of Homeland Security in 2001. Some will focus on gun control and the taking away of citizens’ rights to defend themselves.

My own version of events is closer in time. It began four years ago this month with lockdowns. That’s what shattered the capacity of civil society to function in the United States. Everything that has happened since follows like one domino tumbling after another.

It goes like this:

1) lockdown,

2) loss of moral compass and spreading of loneliness and nihilism,

3) rioting resulting from citizen frustration, 4) police absent because of ideological hectoring,

5) a rise in uncontrolled immigration/refugees,

6) an epidemic of ill health from substance abuse and otherwise,

7) businesses flee the city

8) cities fall into decay, and that results in

9) more surveillance and police state.

The 10th stage is the sacking of liberty and civilization itself.

It doesn’t fall out this way at every point in history, but this seems like a solid outline of what happened in this case. Four years is a very short period of time to see all of this unfold. But it is a fact that New York City was more-or-less civilized only four years ago. No one could have predicted that it would come to this so quickly.

But once the lockdowns happened, all bets were off. Here we had a policy that most directly trampled on all freedoms that we had taken for granted. Schools, businesses, and churches were slammed shut, with various levels of enforcement. The entire workforce was divided between essential and nonessential, and there was widespread confusion about who precisely was in charge of designating and enforcing this.

It felt like martial law at the time, as if all normal civilian law had been displaced by something else. That something had to do with public health, but there was clearly more going on, because suddenly our social media posts were censored and we were being asked to do things that made no sense, such as mask up for a virus that evaded mask protection and walk in only one direction in grocery aisles.

Vast amounts of the white-collar workforce stayed home—and their kids, too—until it became too much to bear. The city became a ghost town. Most U.S. cities were the same.

As the months of disaster rolled on, the captives were let out of their houses for the summer in order to protest racism but no other reason. As a way of excusing this, the same public health authorities said that racism was a virus as bad as COVID-19, so therefore it was permitted.

The protests had turned to riots in many cities, and the police were being defunded and discouraged to do anything about the problem. Citizens watched in horror as downtowns burned and drug-crazed freaks took over whole sections of cities. It was like every standard of decency had been zapped out of an entire swath of the population.

Meanwhile, large checks were arriving in people’s bank accounts, defying every normal economic expectation. How could people not be working and get their bank accounts more flush with cash than ever? There was a new law that didn’t even require that people pay rent. How weird was that? Even student loans didn’t need to be paid.

By the fall, recess from lockdown was over and everyone was told to go home again. But this time they had a job to do: They were supposed to vote. Not at the polling places, because going there would only spread germs, or so the media said. When the voting results finally came in, it was the absentee ballots that swung the election in favor of the opposition party that actually wanted more lockdowns and eventually pushed vaccine mandates on the whole population.

The new party in control took note of the large population movements out of cities and states that they controlled. This would have a large effect on voting patterns in the future. But they had a plan. They would open the borders to millions of people in the guise of caring for refugees. These new warm bodies would become voters in time and certainly count on the census when it came time to reapportion political power.

Meanwhile, the native population had begun to swim in ill health from substance abuse, widespread depression, and demoralization, plus vaccine injury. This increased dependency on the very institutions that had caused the problem in the first place: the medical/scientific establishment.

The rise of crime drove the small businesses out of the city. They had barely survived the lockdowns, but they certainly could not survive the crime epidemic. This undermined the tax base of the city and allowed the criminals to take further control.

The same cities became sanctuaries for the waves of migrants sacking the country, and partisan mayors actually used tax dollars to house these invaders in high-end hotels in the name of having compassion for the stranger. Citizens were pushed out to make way for rampaging migrant hordes, as incredible as this seems.

But with that, of course, crime rose ever further, inciting citizen anger and providing a pretext to bring in the police state in the form of the National Guard, now tasked with cracking down on crime in the transportation system.

What’s the next step? It’s probably already here: mass surveillance and censorship, plus ever-expanding police power. This will be accompanied by further population movements, as those with the means to do so flee the city and even the country and leave it for everyone else to suffer.

As I tell the story, all of this seems inevitable. It is not. It could have been stopped at any point. A wise and prudent political leadership could have admitted the error from the beginning and called on the country to rediscover freedom, decency, and the difference between right and wrong. But ego and pride stopped that from happening, and we are left with the consequences.

The government grows ever bigger and civil society ever less capable of managing itself in large urban centers. Disaster is unfolding in real time, mitigated only by a rising stock market and a financial system that has yet to fall apart completely.

Are we at the middle stages of total collapse, or at the point where the population and people in leadership positions wise up and decide to put an end to the downward slide? It’s hard to know. But this much we do know: There is a growing pocket of resistance out there that is fed up and refuses to sit by and watch this great country be sacked and taken over by everything it was set up to prevent.

Tyler Durden Sat, 03/09/2024 - 16:20

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Low Iron Levels In Blood Could Trigger Long COVID: Study

Low Iron Levels In Blood Could Trigger Long COVID: Study

Authored by Amie Dahnke via The Epoch Times (emphasis ours),

People with inadequate…

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Low Iron Levels In Blood Could Trigger Long COVID: Study

Authored by Amie Dahnke via The Epoch Times (emphasis ours),

People with inadequate iron levels in their blood due to a COVID-19 infection could be at greater risk of long COVID.

(Shutterstock)

A new study indicates that problems with iron levels in the bloodstream likely trigger chronic inflammation and other conditions associated with the post-COVID phenomenon. The findings, published on March 1 in Nature Immunology, could offer new ways to treat or prevent the condition.

Long COVID Patients Have Low Iron Levels

Researchers at the University of Cambridge pinpointed low iron as a potential link to long-COVID symptoms thanks to a study they initiated shortly after the start of the pandemic. They recruited people who tested positive for the virus to provide blood samples for analysis over a year, which allowed the researchers to look for post-infection changes in the blood. The researchers looked at 214 samples and found that 45 percent of patients reported symptoms of long COVID that lasted between three and 10 months.

In analyzing the blood samples, the research team noticed that people experiencing long COVID had low iron levels, contributing to anemia and low red blood cell production, just two weeks after they were diagnosed with COVID-19. This was true for patients regardless of age, sex, or the initial severity of their infection.

According to one of the study co-authors, the removal of iron from the bloodstream is a natural process and defense mechanism of the body.

But it can jeopardize a person’s recovery.

When the body has an infection, it responds by removing iron from the bloodstream. This protects us from potentially lethal bacteria that capture the iron in the bloodstream and grow rapidly. It’s an evolutionary response that redistributes iron in the body, and the blood plasma becomes an iron desert,” University of Oxford professor Hal Drakesmith said in a press release. “However, if this goes on for a long time, there is less iron for red blood cells, so oxygen is transported less efficiently affecting metabolism and energy production, and for white blood cells, which need iron to work properly. The protective mechanism ends up becoming a problem.”

The research team believes that consistently low iron levels could explain why individuals with long COVID continue to experience fatigue and difficulty exercising. As such, the researchers suggested iron supplementation to help regulate and prevent the often debilitating symptoms associated with long COVID.

It isn’t necessarily the case that individuals don’t have enough iron in their body, it’s just that it’s trapped in the wrong place,” Aimee Hanson, a postdoctoral researcher at the University of Cambridge who worked on the study, said in the press release. “What we need is a way to remobilize the iron and pull it back into the bloodstream, where it becomes more useful to the red blood cells.”

The research team pointed out that iron supplementation isn’t always straightforward. Achieving the right level of iron varies from person to person. Too much iron can cause stomach issues, ranging from constipation, nausea, and abdominal pain to gastritis and gastric lesions.

1 in 5 Still Affected by Long COVID

COVID-19 has affected nearly 40 percent of Americans, with one in five of those still suffering from symptoms of long COVID, according to the U.S. Centers for Disease Control and Prevention (CDC). Long COVID is marked by health issues that continue at least four weeks after an individual was initially diagnosed with COVID-19. Symptoms can last for days, weeks, months, or years and may include fatigue, cough or chest pain, headache, brain fog, depression or anxiety, digestive issues, and joint or muscle pain.

Tyler Durden Sat, 03/09/2024 - 12:50

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February Employment Situation

By Paul Gomme and Peter Rupert The establishment data from the BLS showed a 275,000 increase in payroll employment for February, outpacing the 230,000…

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By Paul Gomme and Peter Rupert

The establishment data from the BLS showed a 275,000 increase in payroll employment for February, outpacing the 230,000 average over the previous 12 months. The payroll data for January and December were revised down by a total of 167,000. The private sector added 223,000 new jobs, the largest gain since May of last year.

Temporary help services employment continues a steep decline after a sharp post-pandemic rise.

Average hours of work increased from 34.2 to 34.3. The increase, along with the 223,000 private employment increase led to a hefty increase in total hours of 5.6% at an annualized rate, also the largest increase since May of last year.

The establishment report, once again, beat “expectations;” the WSJ survey of economists was 198,000. Other than the downward revisions, mentioned above, another bit of negative news was a smallish increase in wage growth, from $34.52 to $34.57.

The household survey shows that the labor force increased 150,000, a drop in employment of 184,000 and an increase in the number of unemployed persons of 334,000. The labor force participation rate held steady at 62.5, the employment to population ratio decreased from 60.2 to 60.1 and the unemployment rate increased from 3.66 to 3.86. Remember that the unemployment rate is the number of unemployed relative to the labor force (the number employed plus the number unemployed). Consequently, the unemployment rate can go up if the number of unemployed rises holding fixed the labor force, or if the labor force shrinks holding the number unemployed unchanged. An increase in the unemployment rate is not necessarily a bad thing: it may reflect a strong labor market drawing “marginally attached” individuals from outside the labor force. Indeed, there was a 96,000 decline in those workers.

Earlier in the week, the BLS announced JOLTS (Job Openings and Labor Turnover Survey) data for January. There isn’t much to report here as the job openings changed little at 8.9 million, the number of hires and total separations were little changed at 5.7 million and 5.3 million, respectively.

As has been the case for the last couple of years, the number of job openings remains higher than the number of unemployed persons.

Also earlier in the week the BLS announced that productivity increased 3.2% in the 4th quarter with output rising 3.5% and hours of work rising 0.3%.

The bottom line is that the labor market continues its surprisingly (to some) strong performance, once again proving stronger than many had expected. This strength makes it difficult to justify any interest rate cuts soon, particularly given the recent inflation spike.

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