Good MorningThe Q1 earnings season started with a whimper on Wednesday after reports from the big banks failed to impress the market. Reports from JPMorgan Chase, Goldman Sachs, and Wells Fargo all beat their consensus targets but internal metrics reveal stock market gains and investment banking are the reason why. The banking sector started the day in negative territory but managed to recoup the losses by the end of the session.
The energy market got a boost on Wednesday by a bigger-than-expected drawdown of U.S. crude stockpiles. The U.S. crude inventory fell more than 5 million barrels versus the consensus estimate for about half the amount. The price of WTI gained more than 4% on the news and looks like it is headed back up to retest the recent highs.
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Energy | |
Oil Prices Set To Rise On Growing Demand
Based on the data it sure looks like oil prices are about to move higher. Not only is the world demand picture brightening but production has yet to pick up. The latest inventory data from EIA underscores this statement as it shows not only an acceleratio... Read the Full Story |
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Communication Services | | Chinese online music platform Tencent Music (NYSE: TME) stock surged to highs of $32.25 on March 23, 2021, before collapsing nearly in half to a low of $16.31 just three days later. Massive selling also occurred in Viacom (NYSE: VIAC) and Discovery Networks (NASDAQ: DISCA) and various Chinese stocks... Read the Full Story |
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Finance | |
Truist Financial (NYSE:TFC) is a super-regional bank that was formerly known as the Branch Banking and Trust Company (BB&T). The bank changed its name after merging with Atlanta-based SunTrust Bank in December 2019. You may recognize the Truist name because, upon completion of the merger, the ... Read the Full Story |
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From Our Partners | | The biggest IPO in history is likely just weeks away…
Anthropic, the company behind Claude AI, is rumoured to be lining up a Nasdaq debut before Thanksgiving… at a valuation of up to $2 trillion. But here’s what nobody’s talking about…
A raise of about $100 billion doesn’t just make headlines. It puts an enormous spotlight on the AI industry. And as investors rush to find the next big opportunity in artificial intelligence, some of the most interesting plays may be hiding outside traditional AI stocks. | | Click here to see my #1 pick for the Claude IPO. |
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Finance | | Anytime a company posts record earnings like Goldman Sachs (NYSE:GS) just did, it’s a good idea for investors to take note. It’s all the more impressive given this leading investment banking and securities company’s extended history of delivering strong results. The banking sector ... Read the Full Story |
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Markets | |
The Labor Data, Wow,
We recently wrote a very compelling argument about why this market (NYSEARCA: SPY) was due for a correction and we stand by that position. This market is due for a correction but the timing, depth, and duration are questionable. In our view, a correction, if it comes, will s... Read the Full Story |
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From Our Partners | | After the Dot-Com Bubble burst in March 2000, the Nasdaq fell 78% over the following decade. But gold staged a historic bull run, and select miners delivered gains of 50X, 53X, 252X, and even 362X.
Garrett Goggin, CFA, CMT and founder of The Golden Portfolio, has spent over 20 years studying these market rotations, including 15 years working alongside gold analyst John Doody. He's identified four gold miners positioned for the next rotation out of AI stocks. | | See Garrett Goggin's four gold miner picks before the next rotation begins |
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Finance | | A single daily candlestick won’t tell the viewer much about Coinbase’s (NASDAQ: COIN) first day of public trading, but there’s more than meets the eye here. Having had a reference price of $250 set by the Nasdaq and Goldman Sachs on Tuesday, shares started trading at $380 on Wednes... Read the Full Story |
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Healthcare | |
Investors in Greenwich Lifesciences (NASDAQ:GLSI) have been treated to a volatile ride in the last few weeks. Some of that is due to the company’s anticipated release of results in a key clinical trial and some of it was due to some insider buying that was taking place with the stock.
Green... Read the Full Story |
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Technology | | NXP Semiconductors (NASDAQ: NXPI) had a rough 2020. The company – which derives nearly half of its revenue from its automotive business – saw full-year revenue drop 3% yoy to $8.6 billion.
But that 3% dip doesn’t tell the whole story – it was an uneven year for NXP. In the s... Read the Full Story |
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Materials | | It’s safe to say that one of the biggest concerns that economists and investors have on their minds at this time is inflation. With historic amounts of fiscal stimulus being added to the economy and steadily increasing government spending, many believe that widespread inflation is already occu... Read the Full Story |
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Finance | | Back in March 2020, when lockdowns began and businesses were shut down, investors lost confidence in everything, even online payment systems such as PayPal (NASDAQ: PYPL), Square (NYSE: SQ) and Shift4 (NYSE: FOUR).
Analysts and investors initially expected economic devastation, not anticipating th... Read the Full Story |
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The Early Bird Stock Of The Day Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through IT Services and IT Products segments. The IT Services segment offers IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises. It serves customers in various industry sectors, such as communications, retail connectivity and services, consumer goods, healthcare, technology products and platforms, banking and financial services, energy, manufacturing and resources, capital markets and insurance, and hi-tech. The IT Products segment provides a range of third-party IT products comprising enterprise platforms, networking solutions, software and data storage products, contact center infrastructure, enterprise security, IT optimization technologies, video solutions, and end-user computing solutions. It serves enterprises in various industries primarily in the Indian market, which comprise the government, defense, IT and IT-enabled services, telecommunications, manufacturing, utilities, education, and financial services sectors. The company was incorporated in 1945 and is based in Bengaluru, India. | | View Today's Stock Pick |
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