Good MorningThe selling on Wall Street took on a new tone on Wednesday after a hotter than expected CPI figure put a real fear of higher interest rates into the market. CPI, or the Consumer Price Index, advanced 0.9% at the core level in April versus the 0.3% expected by the analyst and suggests the FOMC’s stance is out of line with current conditions. The 0.9% gain puts consumer-level inflation at up 4.2% YOY which is well above the Fed’s 2.0% target. The risk for the market now is twofold; either the Fed won’t act as it has said and hyperinflation will get stronger or the Fed will act and interest rates will rise 24 months sooner than expected.
The S&P 500 shed more than 2.0% at the low of the day on Wednesday with tech shares in the lead. The price action was below the short-term EMA which means day traders are getting bearish. If today’s Producer Price Index shows similar gains as the CPI the market could be in for a much deeper decline.
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Consumer Discretionary | | Mattress, cushions and sleeping products manufacturer Purple Innovation (NASDAQ: PRPL) stock was a pandemic winner as the stay-at-home mandates accelerated a housing and renovation boom. The Company’s patented grid system provides stability, breathability, and heavy duty support in its product... Read the Full Story |
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From Our Partners | | The largest energy source on Earth contains 50,000 times every oil and gas reserve on the planet combined - and much of it sits beneath the desert near the Grand Canyon.
A drilling crew just hit the DOE's 2035 targets twelve years early, with costs down 50% in 18 months. Google signed on, Gates invested, and the Pentagon made it a priority. One company has been quietly building this infrastructure for sixty years. | | See the company sitting on the biggest energy source on Earth |
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Consumer Discretionary | | Restaurant chain operator Bloomin’ Brands (NASDAQ: BLMN) brands is consolidating below its April 30 high of $32.81, which it reached a day after reporting first-quarter results.
The company’s brands include Outback Steakhouse, Fleming’s, Bonefish Grill, Aussie Grill and Carrabba&r... Read the Full Story |
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Communication Services | | While many high growth stocks have entered into bear market territory in recent weeks, Roblox (NYSE:RBLX) is a great example of one that is trying to buck the trend. After beating expectations with strong earnings results in the first report since the company went public back in March, investors sho... Read the Full Story |
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From Our Partners | | The AI trade has pushed stocks to record highs, everyone feels good, and retirement accounts look great on paper—that's exactly what makes this moment dangerous. Citigroup Research recently modeled a 38% S&P 500 decline by 2027, not because AI fails, but because it works: as automation rises, white-collar wages weaken, spending slows, and the entire debt-fueled structure holding markets up starts to crack. Your retirement account doesn't need a crash to lose ground—volatility plus rising costs erode savings quietly, and by the time it shows up in your statement, it's already done the damage. | | Learn how to add gold to your IRA tax and penalty-free |
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Consumer Discretionary | |
Wolverine Worldwide, Inc Forecasts Strong Rebound
Wolverine Worldwide, Inc (NYSE: WWW) and the shoe industry at large didn’t have a fantastic 2020. Like other retailers of apparel, there was little impetus for demand due to social distancing and work-from-home trends. At least in the begin... Read the Full Story |
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Markets | | Online art trading platform Takung Art Co., Ltd. (NYSEARCA: TKAT) stock has been on a meteoric rise fueled by the non-fungible token (NFT) hype and hysteria. The Company operates a shared-ownership model where its art listings are traded in pieces on its platform. The shares gained momentum in March... Read the Full Story |
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Communication Services | | For a company that watched its shares rally by more than 600% last year, The Trade Desk (NASDAQ: TTD) has had a rough first five months to 2021. Their stock has been pretty much sliced in half since hitting an all time high in the final week of December and any remaining bulls would be forgiven for ... Read the Full Story |
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Communication Services | |
Mixed Results Drive Volatility In Electronic Arts
Electronic Arts (NASDAQ: EA) delivered a bit of a mixed report for the FQ4/CQ1 period but the net results are very positive. The news had shares down immediately following the release but bargain hunters were more than willing to scoop up some sh... Read the Full Story |
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Consumer Discretionary | | Gaming stocks are a mixed bag these days, with recent S&P 500 addition Penn National Gaming (NASDAQ: PENN) in a correction, while another new S&P component Caesars Entertainment (NASDAQ: CZR), is trading at new highs.
Meanwhile, smaller companies from the gaming industry, such as Golden En... Read the Full Story |
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Markets | | With volatility on the rise and heavy rotation occurring in sectors all over the market, investors are probably trying to figure out where they can safely put some of their capital to work at this time. That’s why looking at conservative dividend-paying stocks makes a lot of sense. Since many ... Read the Full Story |
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Markets | | Hardware and information technologies solutions provider Dell Technologies (NASDAQ: DELL) stock has been a pandemic winner but is proving itself to follow through as a re-opening play as well. The Company continues to evolve with its APEX as-a-service (AaaS) accelerating the legacy hardware provider... Read the Full Story |
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The Early Bird Stock Of The Day Microsoft Corporation develops and supports software, services, devices and solutions worldwide. The Productivity and Business Processes segment offers office, exchange, SharePoint, Microsoft Teams, office 365 Security and Compliance, Microsoft viva, and Microsoft 365 copilot; and office consumer services, such as Microsoft 365 consumer subscriptions, Office licensed on-premises, and other office services. This segment also provides LinkedIn; and dynamics business solutions, including Dynamics 365, a set of intelligent, cloud-based applications across ERP, CRM, power apps, and power automate; and on-premises ERP and CRM applications. The Intelligent Cloud segment offers server products and cloud services, such as azure and other cloud services; SQL and windows server, visual studio, system center, and related client access licenses, as well as nuance and GitHub; and enterprise services including enterprise support services, industry solutions, and nuance professional services. The More Personal Computing segment offers Windows, including windows OEM licensing and other non-volume licensing of the Windows operating system; Windows commercial comprising volume licensing of the Windows operating system, windows cloud services, and other Windows commercial offerings; patent licensing; and windows Internet of Things; and devices, such as surface, HoloLens, and PC accessories. Additionally, this segment provides gaming, which includes Xbox hardware and content, and first- and third-party content; Xbox game pass and other subscriptions, cloud gaming, advertising, third-party disc royalties, and other cloud services; and search and news advertising, which includes Bing, Microsoft News and Edge, and third-party affiliates. The company sells its products through OEMs, distributors, and resellers; and directly through digital marketplaces, online, and retail stores. The company was founded in 1975 and is headquartered in Redmond, Washington. | | View Today's Stock Pick |
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