Good MorningEquities surged more than 3.0% at the high on Wednesday despite what is sure to be a heavily contested outcome to the presidential election. The broad market S&P 500 advanced to set a two-week high but traders shouldn’t read too much into the move yet. The index is still trading beneath a down-trending resistance line and there are some key economic reports due out on Friday.
Topping the list of economic data due out this week is the non-farm payroll report. The consensus estimate is for job creation to slow to 550,000 from the previous 660,000 but the decline could be much larger. The ADP employment report came in at half its consensus target and points to weakness in hiring. The caveat for traders is that ADP and NFP reports tend to track each other over time but don’t often match on a month to month basis.
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Industrials | |
There’s been a change in character in the market lately, with many of the high-flying technology stocks that have rallied for the majority of the year experiencing heavy selling. Investors are likely profit-taking after a massive run in some of the hottest sectors, and it’s interesting... Read the Full Story |
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From Our Partners | | Matt Monaco started with a $2,000 trading account and no clear strategy. After two years of trial and error, he crossed $1 million in 2020.
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Materials | | Another Blow-Out Quarter For Scotts-Miracle Grow
Scotts-Miracle Grow (NYSE:SMG) emerged as a winner early in the pandemic and is one rebound story that has legs. This company is not only producing strong double-digit growth that growth accelerated in the 4th quarter and more is expected for next ye... Read the Full Story |
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Communication Services | |
The ability to enjoy digital media on streaming platforms has completely changed the way that the world consumes entertainment. More and more people are cutting their cable cords and electing to pay for only the content that interests them. With companies like Netflix, Disney, and Amazon all offer... Read the Full Story |
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From Our Partners | | A drilling crew near the Grand Canyon uncovered a clean energy well producing nearly eight times the output of Saudi Arabia's largest oil field, with potential to last two million years.
While the One Big Beautiful Bill Act eliminated federal credits for solar, wind, and EVs, this energy source was reclassified alongside oil and nuclear power and given eight years of tax credits. Google signed a 15-year contract, and Bill Gates committed $100 million.
One company controls the entire supply chain behind this discovery. | | See the ticker behind this Grand Canyon energy breakthrough now |
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Consumer Discretionary | | This Is A Turning Point For Camping World
Camping World (NYSE:CWH) has been one of the pandemic-winners this year to be sure. The company has seen no small amount of demand for its products, a double-digit surge in revenue, and the outlook keeps getting better. Oddly enough there are many investors... Read the Full Story |
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Technology | |
You have to give Skyworks Solutions (NASDAQ:SWKS) credit; it demonstrates that you really can't keep a good stock down. Even when the company manages to beat expectations for earnings and revenue, sometimes, the share price still goes downward due to other factors or just rampant profit-taking. Re... Read the Full Story |
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From Our Partners | | Nvidia has invested more than 7 billion dollars into a light speed device that could reshape how AI systems operate.
Bill Gates put in over 200 million of his own money, while BlackRock, Vanguard, Morgan Stanley and Norway's sovereign wealth fund are positioning around it. Related stocks have already climbed 133 percent, 217 percent and 320 percent.
Wall Street analyst Jason Bodner, who called Nvidia at 4.50, is sharing his top pick tied to this trend at no cost. | | Click here to see Jason Bodner's free AI stock pick |
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Consumer Discretionary | | Shares of the largest U.S. used car retailer CarMax, Inc. (NYSE: KMX) have been melting down since late July 2020 falling back under its February pre-COVID highs. The stock is underperforming the benchmark S&P 500 index (NYSEARCA: SPY) but may be bottoming out as the weekly stochastic nears a fu... Read the Full Story |
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Consumer Staples | | Waste Management Is A Cash-Flow Behemoth
Waste Management (NYSE:WM) is, if nothing else, a free-cash-flow behemoth. The company churns out billions in free-cash-flow every year and does a fairly good job of managing it, too. The company is known for growth and returning cash to cash to shareholders... Read the Full Story |
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Consumer Discretionary | | Consumer products maker Newell Brands Inc. (NYSE: NWL) stock is still trading under its February pre-COVID highs underperforming the benchmark S&P 500 index (NYSEARCA: SPY) recovery. The Company is a likely pandemic benefactor from the stay-at-home restrictions but has been able to accelerate it... Read the Full Story |
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Markets | | Overstock.com (NASDAQ: OSTK) blew away expectations when it released its Q3 earnings last week; revenue was $731.7 million vs. estimates of $585.6 million, while earnings of 50 cents per share beat estimates of a 2 cents per share loss.
Unsurprisingly, Overstock opened nearly 14% higher on Thursday... Read the Full Story |
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Consumer Discretionary | | A 3% jump on Friday was enough to put Garmin (NASDAQ: GRMN) shares within a couple of cents of their 52 week high as well as their highest level since 2007’s all-time highs. After watching their shares collapse 90% from that peak into 2009, the company has had to reinvent itself in a lot of wa... Read the Full Story |
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The Early Bird Stock Of The Day Alphabet Inc. offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube. It is also involved in the sale of apps and in-app purchases and digital content in the Google Play and YouTube; and devices, as well as in the provision of YouTube consumer subscription services. The Google Cloud segment offers infrastructure, cybersecurity, databases, analytics, AI, and other services; Google Workspace that include cloud-based communication and collaboration tools for enterprises, such as Gmail, Docs, Drive, Calendar, and Meet; and other services for enterprise customers. The Other Bets segment sells healthcare-related and internet services. The company was incorporated in 1998 and is headquartered in Mountain View, California. | | View Today's Stock Pick |
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