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Today nonfarm payrolls data, consumer credit and unemployment data are slated for release.
The following public company is slated to release corporate earnings today, October 7:
Tilray Brands Inc. (NASDAQ:TLRY — $3.90) engages in the research, cultivation, production, marketing, and distribution of medical cannabis products in Canada, the United States, Europe, Australia, New Zealand, Latin America, and internationally. Tilray will report its Q1 earnings of 2023 before the bell today.
Looking ahead to next week, several key inflation readings are due out next week including the producer price index (PPI) and the consumer price index (CPI). Plus, investors will dig into the latest meeting minutes from the Federal Reserve. Another earnings season is creeping up as well with big names like Citigroup (C), Delta Air Lines (DAL), Domino’s Pizza (DPZ), JPMorgan Chase (JPM), Morgan Stanley (MS), PepsiCo (PEP), UnitedHealth (UNH), and Walgreens Boots Alliance (WBA) set to report.
All economic dates listed here are tentative and subject to change.
The latest Consumer Price Index (CPI) reading indicates that inflation may be peaking. But if you go to the grocery store or pay rent you’re aware that prices aren’t going down anytime soon. In fact, there’s growing sentiment that inflation will be sticky.
What does that mean for interest rates? One part of the Federal Reserve’s dual mandate is to keep inflation at or near its 2% target level. That means that it’s reasonable to suggest that the Fed is not done with rate hikes.
Rising interest rates generally spell trouble for equity investors. Businesses, like consumers, are affected by higher interest rates. Not to be overly simplistic, but hiring borrowing costs means lower earnings. And that means a lower stock price.
However, some stocks manage rising interest rates better than others. In this special presentation, we look at seven stocks that are built to outperform when interest rates are rising. And what’s even better, many of these stocks have business models that provide growth when the economy is firing on all cylinders.
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Kirk McDonald shares three stocks from different industries with different market caps and explains why each is a holding in his portfolio.
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