Harvey Katz of Value Line today noted that the S&P index saw 82% of reporting companies showing higher than expected profits, but he now argues that we need a new catalyst for buying stocks from here. 

Being a Hausfrau as well as a blogger I knew inflation data would be bad but I wonder if Treasury Sec. Janet Yellen buys her own groceries. Anyway, the base case is that inflation here came in at 6.2% in Oct. China is also in trouble because Evergrande is missing another payment of about $150 mn.

All of which boosted gold and of course the new hedge, bitcoin. It turns out that Squid Game tokens are a fraud after they topped $2860 last month. 

GE on which I focused yesterday further improved today after it agreed to buy back over $455 bn of its debt.

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Finance

Gold is back like in my youth. It rose 1.23%. Kirkland Lake Gold KL. is up 3.3%. Being into the US and Canada mining, it is relatively safe.

*Banco Santander gained along with other financials. SAN.

Utility

*BCE got a higher EPS forecast for Q4, up one loony cent to C$1.76. It is now rated buy rather than hold.

*Back along the Yellow River, Tencent TCEHY lost 2.5% pulling down our recent sale advise stock Naspers NPSNY of South Africa, down 5.4% despite its India deal. Chairman Mao's clone wants kiddies to stop playing on-line games when they should be studying his predecessors.

Oil

*While inventories fell last week the price of gasolene rose over estimates because of inflation.

*After hours yesterday Plug Power had good numbers with sales up 1.6% from its hydrogen fuel line of business. It raised its guidance for 2022 to $925 mn up 25 dmn and the consensus guess of $811.17 mn. Green hydrogen is now expected to break even in 2023 and earn 3% the year after. PLUG.

*Schlumberger Ltd fell 2.53% overnight. I was wrong yesterday boosting SLB. It is now ag $33.34 off 2.3%.

Drugs

*Wainwright brokers tipped BioNTech as a buy, up from hold. BNTX.

*Enlivex Therapeutics gained 4% after it was allowed to expand sepsis drug allocetra trials to Spain. Torquemada is dead, ENLV is Israeli.

*I bought more TEVA today because the opioid charges are not sticking.