Good MorningEquity markets rebounded strongly on Thursday after a round of better than expected earnings reports and cooler than expected inflation data. On the inflation front, the PPI index came in below expectation and is the first sign the steep rise in prices may be ending. The caveat is that at YOY inflation gains continue to accelerate and may not end soon. There are no companies on Wall Street talking about lowering prices or deflation and most are still in price-rising mode.
Turning to the charts, the S&P 500 index is confirming a bottom at the 4,300 level. Thursday’s move confirms a Head & Shoulders reversal pattern that suggests a new all-time high will be set soon. If the pattern continues as expected the market could set a new all-time high within the next two to three weeks.
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Healthcare | |
Record Results Lift UnitedHealth To New Highs
UnitedHealthcare (NYSE: UNH) has been one of our top choices among healthcare stocks for some time. The company is well-run, growing, and pays a healthy dividend so what is there not to like? The addition of Optum to the fold only optimized that outlo... Read the Full Story |
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Consumer Discretionary | |
Cruise ship operator Royal Caribbean (NYSE: RCL) stock has been recovering since its pandemic lows powered by pent-up demand. The acceleration of COVID vaccinations is bolstering bookings for 2022. The cruise line reported that 92% of the people on board its ships in July are vaccinated, with the ... Read the Full Story |
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Materials | |
Commercials Metals Dividend Is Strong As Steel
Commercials Metals’ (NYSE: CMC) fiscal Q4 earnings report sparked a 3.0% decline in the stock that we think irrational. The move was sparked not so much because the company posted weak results but because results were a slim margin below the a... Read the Full Story |
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Technology | | After taking a major downturn in the summer, cryptocurrencies have been bouncing back in a big way throughout October and proving that investors still have an appetite for these high-flying and volatile digital assets. With dozens of firms filing for SEC approval of bitcoin-based ETFs and Federal Re... Read the Full Story |
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Consumer Staples | |
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Consumer Discretionary | |
ESports Entertainment (NASDAQ: GMBL) is surging on high volume after the company reported earnings on October 13. Trading on GMBL stock is benefiting from three times normal volume as retail investors anticipated a strong earnings report. ESports delivered just that, and if you’ve been on th... Read the Full Story |
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Consumer Staples | |
Strong Results From Oil-Dri Overshadowed By Inflation
If we are reading the report from Oil-Dri Corporation (NYSE: ODC) correctly, the price of kitty litter and many other sorbent mineral products are about to get a lot more expensive. The company produced a strong quarter and record results but ... Read the Full Story |
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Consumer Staples | |
These Growing Companies Will Post Record Revenue
Pandemic winners like Freshpet and Graphic Packaging Holding Company have produced robust returns for shareholders since the peak of the scare. While the pandemic is still with us, it is subsiding but not the tailwinds driving these stocks. In the ... Read the Full Story |
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Technology | |
Infosys Proves Tailwinds In Tech Are Still Blowing
One of the biggest stories coming out of the pandemic was the massive shift to technology that was sparked by stay-at-home and work-from-home needs, a shift aided by Infosys. Now, more than a year later, it looks like those tailwinds continue to ... Read the Full Story |
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Markets | |
Airline carrier JetBlue (NASDAQ: JBLU) has been recovering on the reopening trend as pent-up demand is bolstering its recovery towards 2019 pre-pandemic levels. Being an epicenter industry stock should provide no surprise when revenues rose triple digits since the peak of the pandemic in Q2 2020. ... Read the Full Story |
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The Early Bird Stock Of The Day Smith & Nephew plc engages in the development, manufacture, marketing, and sale of medical devices. It operates through the following segments: Orthopaedics, Sports Medicine and ENT, and Advanced Wound Management. The Orthopaedics and Sports Medicine and ENT segment consists of the following businesses: knee implants, hip implants, other reconstruction, trauma, sports medicine joint repair, arthroscopic enabling technologies, and ENT. The Advanced Wound Management segment includes advanced wound care, advanced wound bioactives, and advanced wound devices businesses. The company was founded in 1856 and is headquartered in Watford, the United Kingdom. | | View Today's Stock Pick |
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