The stock market ended a volatile session higher on Tuesday, as Fed Chair Jerome Powell acknowledged that inflation has started easing.
Overall, S&P 500 rose 1.3% to 4,164, while NASDAQ climbed 1.9% to 12,114.
Tweet of the Day
$PINS What’s the point of this stock? Another “no-profit, no-growth” biz with an awful Q4. +4% rev growth, barely breakeven, bad guide. How can these nitwits not make money with supposedly 450 million users? 😣 It’s just another stock printer where insiders dump shares on apes. pic.twitter.com/nmMFKJDKNb
— Wasteland Capital (@ecommerceshares) February 7, 2023
Chart of the Day
Our chart of the day is the ten-year chart of Sherwin-Williams (SHW) as of February 1, 2023, when the stock was at $243.
Management sees a challenging 2023, thus lowered revenue and profit growth.
Analysts took 2023 EPS estimates from $10.26 to $8.66.
But this company should benefit from deflation in chemical prices. In addition, shipping rates have declined. That could boost profits above expectations.
SHW is part of the Conservative Growth Portfolio.