Good MorningThe action on Wall Street was muted Friday as traders continue to wait for the next clear signal for the market. There is a reason for traders to fear a correction as well as a violent market melt-up. On the one hand, the S&P 500 is brushing up against the previous all-time high and a level where profit-taking and weaker hands are likely to take place. On the other hand, the economic data and earnings outlook continues to support the market and point to higher prices.
Friday’s data included the latest read on retails sales. Retail sales surged another 1.2% in July, 1.9% when excluding autos, putting the figure at an all-time high. The risk for equity markets is the recently expired enhanced unemployment checks. If Congress can’t get a deal done soon, economists fear that August sales will be flat or fall on a month to month basis.
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These are dark times for mall owners. With malls coming off coronavirus closures that left them shuttered for weeks even as big-box stores like Costco (NASDAQ:COST) were allowed to carry on operating, the current environment is nothing short of cataclysmic. It shouldn't surprise, however, that mal... Read the Full Story |
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Markets | | | Diversified healthcare company Opko Health (NASDAQ: OPK) shares have recently surged to 2018 highs at $6.47 from lows of $1.12 pandemic lows when the S&P 500 index (NYSEARCA: SPY) plunged (-34%) into March 2020. Read the Full Story |
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Markets | | | hares of engineering software giant Autodesk (NASDAQ: ADSK) find themselves now in the middle of August. Like many other tech names out there, they caught the wave of risk-on sentiment that bought into innovation in the aftermath of March’s crash. Read the Full Story |
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From Our Partners | | The Tesla Shock Nobody Sees Coming
While headlines scream "Tesla is doomed"...
Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs.
One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as July 23rd. | | Click here to see the Tesla shock that could blindside everyone. |
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Markets | | | It’s been a tough couple of weeks for ride-hailing apps Lyft (NASDAQ: LYFT) and Uber (NYSE: UBER). After steadying the ship from a horrendous first half of the year that saw their core user demand evaporate overnight, a Californian court recently ordered both companies to classify their driver... Read the Full Story |
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Markets | | | Bed Bath & Beyond Embraces eCommerce
Bed Bath & Beyond (NASDAQ:BBBY) is no fantastic stock, at least it hasn't been. Over the past few years, it has seen its share prices wind down to a two-decade low as eCommerce and discount shopping cut into revenue. When the pandemic struck, the company... Read the Full Story |
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From Our Partners | | Tesla's About to Prove Everyone Wrong... Again
Back in 2018, when Jeff Brown told everyone to buy Tesla…
The "experts" said Elon was finished and Tesla was headed for bankruptcy.
Now they're saying the same thing, but Jeff has uncovered Tesla's next breakthrough. | | Click here to see why Tesla's about to prove everyone wrong... again. |
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The Early Bird Stock Of The Day Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana. The company was founded in 1916 and is headquartered in Denver, Colorado. | | View Today's Stock Pick |
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