economy
We're upgrading our rating on Honeywell
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
TL;DR
- The S&P 500 is heading for its fourth straight losing week, down over 4% for the year.
- Oil prices are higher, influencing bond yields which have surged to their highest level since July.
- Energy was the top-performing sector, while consumer staples declined due to inflationary pressures.
- The Investing Club is interested in Alphabet and has upgraded its rating on Honeywell.
- Honeywell's stock was impacted by supply chain disruptions in the Middle East, but full-year guidance remains positive.
- The upcoming separation of Honeywell's aerospace division is seen as a positive catalyst.
- Next week is quiet for portfolio companies with no scheduled earnings reports, but Federal Reserve officials will be speaking.