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Fortunately, we'll get useful information in the coming weeks as earnings season ramps up and updated inflation data is released. We really want to see more supply come into the market to provide some relief on shelter costs. Looking to next week, we'll get a several key economic updates and a ramp up of earnings releases. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
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An index that tracks global container rates has plunged 75% from a year ago. The downturn has also affected the US trucking business, prompting the Fed to acknowledge the "freight recession". Respondents indicated that there was a freight recession, and it was more difficult to find loads. While global freight trade has declined from its historic highs during the coronavirus pandemic, levels could be returning to their pre-pandemic norms. But for those who attach value to the shipping industry as a barometer of health for the wider US economy, the outlook remains gloomy.
Persons: Aaron P Organizations: Service, Federal Reserve, Drewry, Container, Dallas, Triumph Financial, Trucking, Packaging Corp Locations: Wall, Silicon, America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTriumph Financial CEO on banking crisis: Capital cannot replace confidenceAaron Graft, Triumph Financial CEO, joins 'The Exchange' to discuss the continued regional bank fallout and what it means for the sector and markets
Triumph Financial is a "new fintech leader in payments" that the market is underappreciating, according to Loop Capital. The firm initiated coverage of Triumph with a buy rating and a price target of $76 per share. This, along with its emerging open loop payment platform, TriumphPay, makes the company unique, according to Goetsch. TriumphPay connects brokers, factoring companies, and carriers in the trucking industry to facilitate payments. To be sure, Goetsch believes the company will not become profitable until 2024, as freight demand slows in 2023.
Baird downgrades Bunge to neutral from outperform Baird downgraded the agribusiness and food company's after its disappointing earnings report on Wednesday. JPMorgan reiterates Uber as a top pick JPMorgan says it's sticking with the stock after its "strong" earnings report on Wednesday. Goldman Sachs reiterates Exxon as buy Goldman says it's sticking with its buy rating on shares of Exxon. Bank of America reiterates Apple as neutral Bank of America says Apple Services are at risk for further deceleration. Oppenheimer reiterates Ulta as outperform Oppenheimer says the bull case still has legs" for Ulta.
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