My top 10 things to watch Thursday, Dec. 15, 2022
1. Day 2 of Federal Reserve-driven pressure on Wall Street after Chairman Jerome Powell and company Wednesday projected a higher interest rate level than previously thought for when they eventually stop hiking. Clueless sellers don't realize that Powell is targeting wage inflation and he's nowhere near where he wants to be. So now they sell? Hello? Retail sales for November drop more than expected fueling recession fears.
2. Barclay's raises price target on Club holding Wynn Resorts (WYNN) to $95 per share from $75; keeps an equal weight (hold) rating. JPMorgan puts WYNN on its gaming and lodging list for 2023, citing Macao opening more broadly as an opportunity. It's a bet we've been making on WYNN and other Club names tied closely to China relaxing Covid rules, Estee Lauder (EL) and Starbucks (SBUX).