On today’s episode of Free Lunch, Associate Stock Strategist Ryan McQueeney highlights the Fed’s latest rate hike sentiment and new revisions to GDP growth estimates. He also recaps Bed Bath & Beyond’s earnings results and touches on analyst research related to Apple.
Later, he is joined by Zacks’ biotech guru, Kevin Cook, to chat about CRISPR stocks and how to invest in the developing science.
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Free Lunch is the newest show from Zacks Investment Research. It is streamed live, four times per week, and features breaking news and analysis from Zacks strategists. Free Lunch is available on YouTube, Facebook Live, Twitter, Ustream, and more.
U.S. stocks were up in morning trading Thursday as Wall Street digested the latest rhetoric out of the Fed. As expected, the central bank yesterday raised rates above 2% for the first time since the Great Recession and suggested gradual hikes would continue into 2019.
But perhaps more importantly, the Fed removed the word “accommodative” from its description of monetary policy. This suggests a shift in rhetoric from the entity which regulates monetary policy, possibly marking an important milestone for the American economy.
Elsewhere, the Fed raised its estimate for full-year 2018 GDP growth to 3.1% from 2.8% after the second revision on Q2 GDP growth once again confirmed a 4.2% expansion of the economy. This is the fastest rate of GDP growth seen since 2014.
Investors are also gearing up for earnings season, with a few interesting reports starting to trickle in ahead of the traditional report season. Of these, Wall Street was disappointed by misses from Bed Bath & Beyond (
BBBY - Free Report) yesterday, sending the retail stock plummeting more than 24% in morning trading today.
So it was the familiar market leaders lifting indexes into the green on Thursday. Notably, Apple (
AAPL - Free Report) shares surged as analysts from JPMorgan Chase initiated coverage on the iPhone maker with an overweight rating and a price target of $272 per share. That call would represent a 23% gain from Apple’s Wednesday close.
Make sure to check out the first segment on today’s show to find out more on the above news stories as well as Ryan’s own perspective on the headlines!
Then, on the second half of the episode, watch as Ryan is joined by Zacks CRISPR guru Kevin Cook to discuss the latest developments in what has been described as science’s “breakthrough of the century.”
Ryan and Kevin chat about the history of CRISPR, its possible uses, and how the scientific community should credit the discovery as a patent battle between discoverers rages on.
Kevin also provides insights on the risks and benefits of investing in the industry through its pure-play stocks—CRISPR Therapeutics (
CRSP - Free Report) , Editas Medicine ( EDIT - Free Report) , and Intellia Therapeutics ( NTLA - Free Report) —and by following biotech giants with an interest in the space, including Gilead ( GILD - Free Report) and Vertex ( VRTX - Free Report) .
This is a must-watch conversation if you follow CRISPR stocks or would like to learn more about this exciting new technique. Check it out now!
5 Medical Stocks to Buy Now
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