Good MorningThe market had a bit of a mixed day on Wednesday following the first U.S. Presidential debate of the 2020 election cycle. Although equity traders largely shrugged off the event in favor of better than expected economic data by the end of the day the major indices had given up some of the gains leaving the S&P 500 up about 1.0% for the day. The data includes an upward revision to the final read on the 2nd quarter GDP as well as more current data from the labor, housing, and manufacturing sectors.
The GDP data underscores what we already know. The shut-down was bad but not as bad as expected and nowhere close to the worst-case scenario. The other data underscores a developing story in that the rebound is stronger than expected. On the labor front, the ADP employment report showed upward of 700,000 newly added jobs in September, better than expected and up from the previous month. Regarding housing and manufacturing, both the pending home sales and Chicago PMI data were up from last month and better than expected.
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Consumer Discretionary | |
One of the more unexpected trends that have resulted from the pandemic is the increase in the demand for new single-family homes. At first, many believed that the pandemic would cause an economic crisis that would decimate the real estate market. However, that hasn’t exactly been the case fo... 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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Technology | |
Micron Shares Tank After Earnings
Shares of Micron Technology (NASDAQ:MU) have not been performing all that well since hitting the pandemic-bottom. The share prices recaptured only a fraction of the pre-COVID highs and are still struggling with resistance. Its understandable past-performance was ... Read the Full Story |
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Technology | | Nothing lasts forever – even the Apple (NASDAQ: AAPL) rally. After making a V-shaped recovery, shares spent much of June, July and August on the all-time high list. But September has been a different story, with shares dipping nearly 24% from peak to trough. AAPL has since clawed back some of ... Read the Full Story |
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From Our Partners | | Palantir, Micron and SanDisk show how fast a stock can become the trade everyone suddenly wants. That's often when investors make their costliest mistake: arriving after the easy part of the move is gone.
A new premium eBook flags 7 stocks that may be worth knowing about before the broader crowd catches on. You don't need to buy any of them - just knowing what's quietly gaining attention can be useful. | | See the 7 stocks on the watchlist while it's still free |
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Healthcare | |
Under normal circumstances, pharmaceutical companies are thought to be safer than most industries during periods of economic uncertainty. This year is unique in that the pandemic has led to fewer people going to the doctor and getting prescriptions, which ultimately impacts the sales for big pharm... Read the Full Story |
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Industrials | | The Theme Of 3rd Quarter Earnings? Upgrades
If the theme of the 2nd quarter earnings cycle was “better than expected” then upgrades will be the theme of the 3rd quarter. It’s only natural. If 2nd quarter earnings and the outlook for the full-year are better than consensus the prog... 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 Staples | |
When McCormick (NYSE:MKC) delivered earnings in June, the consumer carried the day. Despite surveys that say Americans don’t like to cook, it seems they did just that in the early months of our global pandemic. Millions of Americans dusted off old recipe books and found their spice cabinets ... Read the Full Story |
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Consumer Discretionary | | Restaurant operator Brinker International (NYSE: EAT) shares have nearly doubled since our MarketBeat Original article highlighting the delicious entry on pullbacks under the restart narrative on May 20, 2020. With isolation mandates lifted, the restart narrative has taken shape as limited in-dining... Read the Full Story |
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Consumer Discretionary | | Thor Industries; Loving The Van Life
Thor Industries (NYSE:THO) just reported a strong quarter and improved guidance and I am not surprised. The #vanlife is a wildly popular and rapidly growing phenomenon that has only been accelerated by the pandemic (where have I heard that before?). Not only are... Read the Full Story |
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Healthcare | | On Friday, Johnson & Johnson (NYSE: JNJ) released early results from the Phase 1/2 a clinical trial for its COVID-19 vaccine. One dose appeared to produce a strong immune response in 99% of the participants. There were some mild side effects, such as fever, headache, and fatigue, but they resolv... Read the Full Story |
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Consumer Staples | |
With market volatility on the rise again and signs that an economic recovery might take longer than initially expected, now is the perfect time to look towards consumer staples for investment opportunities. These stocks are interesting because they are companies that produce essential goods that p... Read the Full Story |
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The Early Bird Stock Of The Day Cousins Properties Incorporated ("Cousins") is a fully integrated, self-administered, and self-managed real estate investment trust (REIT). The Company, based in Atlanta and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office buildings located in high-growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing, and management of high-quality real estate assets. The Company has a comprehensive strategy in place based on a simple platform, trophy assets, and opportunistic investments. | | View Today's Stock Pick |
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