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 Staples | | 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 | | Tired of trying tactic after tactic when it comes to options trades... only to be met with market noise and stinging losses? Dave Aquino is giving away the exact 11-hour options strategy he uses in volatile markets. You get the plain English blueprint behind the strategy and the very same "rinse and repeat" ticker he's traded nearly 900 times with a 95.3% success rate. It's so simple to understand, you could trade it tomorrow. | |
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Retail/Wholesale | | 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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Consumer Discretionary | | 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 | | Marc Chaikin, founder of Chaikin Analytics, is sharing a strategy he calls 'Sell This, Buy That' - a way to move out of overpriced AI stocks before the tech trade breaks down and into lesser-known names with real potential to challenge the Mag 7.
One pick he calls 'an upgrade to Tesla stock' is a little-known company that just inked a partnership with Nvidia, positioning it ahead of Tesla in the autonomous vehicle race. | | Get the name, ticker, and full Hotlist before markets open |
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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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From Our Partners | | Elon Musk's next major play may not be SpaceX. A radical 'light-speed' device is transforming standard AI into what insiders are calling 'Accelerated AI' - reportedly 100 times faster and 100 times more energy efficient.
The mainstream hasn't caught on yet, but related stocks have already posted gains of 133%, 217%, and as much as 320%. Early movers say this trend is just getting started. | | Click here to learn which Accelerated AI stocks to watch now |
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Technology | | 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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Consumer Discretionary | |
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 Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products. It also provides SPEED gapfill high-density plasma chemical vapor deposition products; and Striker single-wafer atomic layer deposition products for dielectric film solutions. In addition, the company offers Flex for dielectric etch applications; Kiyo for conductor etch applications; Syndion for through-silicon via etch applications; and Versys metal products for metal etch processes. Further, it provides Coronus bevel clean products to enhance die yield; Da Vinci, DV-Prime, EOS, and SP series products to address various wafer cleaning applications; and Metryx mass metrology systems for high precision in-line mass measurement in semiconductor wafer manufacturing. The company sells its products and services to semiconductors industry in the United States, China, Europe, Japan, Korea, Southeast Asia, Taiwan, and internationally. The company was incorporated in 1980 and is headquartered in Fremont, California. | | View Today's Stock Pick |
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