Author: News Room

We believe that Emerson Electric stock (NYSE: EMR) is a better pick than Honeywell stock (NYSE: HON), given its better prospects. Honeywell is trading at a comparatively higher valuation multiple of 3.6x trailing revenues vs. 2.4x for Emerson, and we think that this gap in valuation should narrow in favor of Emerson, given its superior revenue growth and profitability, as discussed below. Looking at stock returns, Honeywell, with -11% returns this year, has fared marginally better than EMR, down 13%, and both have underperformed the broader markets, with the S&P 500 index, up 7%. There is more to the comparison,…

(Reuters) – The U.S. economy is at risk of shrinking in the second quarter, BofA Global Research wrote in a client note, following recent economic data that hinted that the Federal Reserve’s aggressive interest rate hikes were cooling the economy. “This week’s data flow is consistent with our view that the U.S. economy slowed steadily over the course of 1Q 2023,” BofA economists wrote in a note dated Friday and emailed Monday. “As a result, the hand-off to 2Q looks weak. We see meaningful risks of a contraction in GDP in 2Q.” BofA pointed to data from April 3 showing…

By Ambar Warrick Investing.com — Most Asian currencies rose slightly on Tuesday, while the dollar was somewhat mixed ahead of more cues on the U.S. economy and monetary policy from key inflation data due later this week. Still, gains in regional currencies were limited following a string of less hawkish cues from local central banks, amid signs that inflation was peaking across a bulk of the region. was flat as data showed inflation in the country missed expectations in March, while inflation continued to fall. The reading pointed to a mixed economic rebound in the country, especially as its manufacturing…

A look at the day ahead in U.S. and global markets from Mike Dolan Stock markets seem determined to see a glass half full in assessing the foggy growth and inflation outlook, with major bourses pushing higher again on Tuesday as the critical U.S. March consumer price readout looms. If, as many suggest, stocks are now trading more off growth than interest rate signals, then last week’s U.S. employment report had much to cheer about – with decent jobs growth along with the lowest annual wage gain since 2021. Ahead of the start of the first quarter earnings season this…

© Reuters. FILE PHOTO: A person enters a United States Postal Service (USPS) Post Office in Manhattan, New York City, U.S., May 9, 2022. REUTERS/Andrew Kelly By David Shepardson WASHINGTON (Reuters) – The United States Postal Service (USPS) on Monday said it was seeking approval to hike the price of first-class mail stamps to 66 cents from 63 cents. USPS won approval to hike stamp prices to 63 cents from 60 cents in January. The new hike – which the USPS says is needed to offset the rise in inflation – would take effect July 9 if approved by the…

China has seized outsized market share in industries from textiles to solar panels, accomplished a lock on rare earth minerals, and threatens to become an export juggernaut in electric vehicles through protectionist industrial policies. U.S. President Joe Biden has responded with the Chips and Science Act and the Inflation Reduction Act. These policies aim to level the playing field in batteries, EVs, semiconductors and other cutting-edge industries. European politicians decry these and other U.S. industrial policies as dangerous and the end of the liberal trade order. Progressive business leaders, politicians and intellectuals also rail against threats to the liberal international economic system, They blame populists and nationalists for the situation. That’s dead wrong. Biden may…

If you’ve been holding off on home improvements, a new law signed last year and in effect as of Jan. 1, 2023, may provide a fresh incentive.  The Inflation Reduction Act, or IRA, includes tax credits and rebates for homeowners who make energy-saving updates to their homes. Credits for improvements like new solar panels, windows, doors and air conditioners are available now, while rebates for larger energy-efficient updates are expected to become available later this year or next year. Here’s what to know about these perks, plus tips to plan your projects.Tax credits for smaller updates The IRA includes tax…

Almost 90% of U.S. adults have heard something about cryptocurrencies, but most aren’t confident that ways to invest, trade, or use it are reliable and safe, according to a Pew Research Center survey published Monday. The survey was conducted between March 13-19, around the time that Silvergate Capital and Signature Bank, both crypto-friendly banks, collapsed or were being wound down. It was also around the time that bitcoin BTCUSD, +3.49% prices had soared. Crypto has seen a rough several months, from multiple corporate bankruptcies like the FTX crypto exchange, to lawsuits against crypto giants like Binance, and frequent regulatory threats…

U.S. stocks opened down Monday following the three-day holiday weekend, with investors resuming trade after U.S. stock exchanges closed for Good Friday. The Dow Jones Industrial Average DJIA, +0.30% fell 0.3% soon after the opening bell, while the S&P 500 SPX, +0.10% fell 0.6% and the Nasdaq Composite COMP, -0.03% dropped 0.9%, according to FactSet data, at last check. Investors had the weekend to digest the jobs report that landed on Good Friday, with the Bureau of Labor Statistics saying that day that the U.S. economy added 236,000 jobs in March while the unemployment rate dipped to 3.5% from 3.6%…

First, the Shasta County Board of Supervisors in rural northern California voted to cancel its contract with Dominion Voting Systems, citing public distrust of the company’s machines. Then, the supervisors agreed to shift to hand-counting ballots in future elections after receiving written assurance from one of the most vocal 2020 election deniers – MyPillow CEO Mike Lindell – that he would provide “financial and legal” resources to the county if it faced “pushback” over the move. The decision by a majority of supervisors in this deeply conservative county to end the Dominion contract – years before its expiration date and…