Good MorningStocks ended modestly lower Thursday, with the Dow Jones Industrial Average ending 5-day winning streak as investors awaited the release of the May jobs report. The day was not without its share of volatility. The blue-chip gauge had dropped by more than 260 points at its session low before bouncing back to trade in positive territory. Consumer staples and utilities were the biggest gainers among 11 S&P 500 sectors, while consumer discretionary and tech weighed on the broader market with the NASDAQ slipping around 1%.
News was leaked President Biden was reconsidering his previous proposal to raise the corporate tax rate to 28% from 21%, which had been seen as a major roadblock to winning Republican support for his infrastructure plans. Instead, the report claimed he would recommend a minimum corporate tax rate of 15%.
Still, all eyes are on employment data. ADP posted its closely watched report on private payroll changes for May early in the morning, which showed a better than expected 978,000 jobs were added back last month versus the 650,000 expected. the Labor Department's report on new weekly unemployment claims showed that new filings broke below 400,000 for the first time since March 2020. Roll
The Non-Farm Payroll report will be out ahead of the market open on Friday at 8:30 AM and investors should have more clarity on the economy and market direction. Featured: The suits might come after me for showing you this (Ad) 
|
Medical | | Even though cannabis stocks have cooled off from their huge rally to start the year, a lot of the bullish narratives about the industry are still in play. With Republican lawmakers pushing for federal legalization in congress and over two-thirds of all states offering medical cannabis at this time, ... Read the Full Story |
|
From Our Partners | | Trader Graham Lindman has built a strategy around a repeating anomaly that appears in the first 60 minutes of every trading day - and it never requires holding positions overnight.
The setup has recently been refined to target up to 100% payouts by holding through the close, with 10 consecutive winning trades logged during one of the most volatile stretches since the Tariff Wars.
A new signal opportunity opens tomorrow. | | See how to join Graham Lindman's next trade before it opens |
|
Technology | |
Up 24% this year, U.S. small cap stocks as measured by the S&P 600 have doubled the return of their large cap counterparts. Granted, the 1,300% return in popular meme stock Gamestop is part of that. Still, the small cap space is benefitting from expectations of a strong economic recovery and p... Read the Full Story |
|
Markets | |
I have a friend who, at 39, you'd definitely consider part of the FIRE movement. He checks his investments daily and then heads off to the pool with his kids for the rest of the day. His situation sounds exactly what you might think of when you think of the Financial Independence, Retire Early (FI... Read the Full Story |
|
From Our Partners | | Roger Scott just unveiled a day-trading tool designed to identify the first wave of institutional buying before a full order moves through the market - potentially in minutes.
On April 14th, the tool flagged early institutional buys on HOOD at 9:45 am, delivering a 24% return in 6 minutes. Minutes later, a signal on MSTR locked in a 33% return in 12 minutes. Free access is available now. | | Secure your free pass to the real-time institutional order tracker today |
|
Technology | | Optoelectronics solutions provider Applied Optoelectronics (NASDAQ: AAOI) stock has rebound despite the delays in 5G deployment. The provider of optical fiber laser products to data centers, telcos and internet network infrastructure companies has seen a recovery from the pandemic triggered lows. Wh... Read the Full Story |
|
Technology | | It’s hard to ignore some of the moves that are taking place this week in the “meme stocks”, with shares of companies like AMC Entertainment rallying upwards of 90% in a single session. However, since these moves are the product of pure speculation and are not likely to be sustainab... Read the Full Story |
|
From Our Partners | | Roger Scott spent twenty years on Wall Street moving billions through the market. Now he's exposing the 'empty chair' signal he says sits behind the most stunning stock moves retail investors rarely hear about.
The same signal reportedly triggered a 138% return on WMT in two weeks and a 157% return on Cencora in one week, according to his research. | | Watch Roger Scott reveal the empty chair signal today |
|
Energy | |
Thinly traded oil drilling gear maker Forum Energy Technologies (NYSE: FET) is up 40% since reporting first-quarter results on May 6.
This is not one of those companies crushing it with earnings and revenue growth. Instead, Forum reported a quarterly loss of $3.95 per share on revenue of $114.5 ... Read the Full Story |
|
Consumer Staples | | By almost any measure, J.M. Smucker’s (NYSE:SJM) delivered a solid earnings report. The company beat analysts’ non-GAAP EPS earnings by 23 cents. And Smucker’s also generated revenue of $1.92 billion which beat analysts’ estimates by $40 million.
That would be sweet news fo... Read the Full Story |
|
Consumer Discretionary | | A quick look at any financial headlines this week makes it clear that there’s a buying frenzy kicking off in the world of meme stocks once again. They grabbed both Wall Street’s and Main Street’s attention for a couple of weeks in January as double and triple percentage daily moves... Read the Full Story |
|
Retail/Wholesale | | Retail department store chain Kohl’s Corporation (NYSE: KSS) stock recently collapsed in reaction to its blowout Q1 2021 earnings results providing prudent investors an opportunity to reload shares. When a stock tanks after a dramatic upside beat, it’s natural to assume the upside was pr... Read the Full Story |
|
Medical | | DexCom (NASDAQ: DXCM), which makes glucose monitoring systems, is still slogging through a correction that began in August.
Does that mean the stock is best ignored for now, or does it deserve a place on a watch list, so you’re ready when a new uptrend gets underway?
To answer that question... Read the Full Story |
|
The Early Bird Stock Of The Day Coty Inc., together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates through Prestige and Consumer Beauty segments. The company provides fragrance, color cosmetics, and skin and body care products. It offers Prestige segment products primarily through prestige retailers, including perfumeries, department stores, e-retailers, direct-to-consumer websites, and duty-free shops under the Burberry, Calvin Klein, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Kylie Jenner, Lancaster, Marc Jacobs, Miu Miu, Orveda, philosophy, SKKN BY KIM, and Tiffany & Co. brands. The company provides Consumer Beauty segment products primarily through hypermarkets, supermarkets, drug stores, pharmacies, mid-tier department stores, traditional food and drug retailers, and e-commerce retailers under the Adidas, Beckham, Biocolor, Bozzano, Bourjois, Bruno Banani, CoverGirl, Jovan, Max Factor, Mexx, Monange, Nautica, Paixao, Rimmel, Risque, and Sally Hansen brands. It also sells its products through third-party distributors. The company was founded in 1904 and is headquartered in New York, New York. Coty Inc. is a subsidiary of JAB Beauty B.V. | | View Today's Stock Pick |
|
