Good MorningEquity markets extended their gains on Tuesday and set another new all-time high. The caveat is that market action was greatly subdued compared to the prior two sessions. The S&P 500 advanced about 0.25% at the high of the day as momentum wanes. If the market can't get its legs under it and extend the rally the stage is set for another correction and this time it could be a full-blown 20% correction. Market action will likely be muted until Friday when the Bureau of Economic Analysis releases monthly income and spending data including the PCE price index.
Another focus for the market this week is the Fed's Jackson Hole conference. The Fed is not expected to alter its policy at the conference but commentary from the members could sway sentiment in the market. Regardless, the Fed has become more hawkish in recent weeks and appears set to begin tapering this fall.
Featured: Rickards Predicts: Trump to buy tiny $2 stock? (Ad) 
|
Consumer Discretionary | |
Another Good Quarter For Advance Auto Parts
Advance Auto Parts (NYSE: AAP) gave the market almost everything it could want with the Q2 earnings report, including a buying opportunity. Price action fell in pre-market trading but buyers were ready to scoop up the bargains and have sent driven share... Read the Full Story |
|
From Our Partners | | A tanker called the Iberica Knutsen once sailed 2,272 miles from Trinidad and Tobago to deliver liquefied natural gas to Boston.
The odd part: the Marcellus Shale, one of the largest natural gas reserves in the world, sits just a few hundred miles away.
Porter Stansberry spent years digging into why this happens and what it means for the American energy system. | | Uncover the full story behind Boston's costly LNG imports |
|
Markets | | You may be a victim of the psychological phenomenon of loss aversion without even realizing it.
Have you ever wanted to guard your money instead of "risking it" in the markets? Have you ever held onto stocks even though they're major losers and unlikely to come back — all because you can't st... Read the Full Story |
|
Markets | |
Rent-to-own retailer Rent-A-Center (NASDAQ: RCII) is working on a first-stage base after resetting its base count in June.
The stock is forming a textbook cup-with-handle pattern. At this juncture, a potential buy point is above the handle’s high of $65, reached on August 13.
Shares are ... Read the Full Story |
|
From Our Partners | | The last time America reset its money, it minted 1,300 new millionaires a day. Porter Stansberry believes Executive Order 14241 could trigger something even bigger.
In a new documentary, Stansberry names five assets to watch before America's new dollar rolls out and explains why the U.S. government is buying stakes in small mining companies, a move not seen since World War II.
He also points to a December gathering of world leaders at a Trump resort in Miami that could reveal the new dollar to the world. | | Watch the free documentary on Trump's new dollar now |
|
Consumer Discretionary | | One could argue that investors are currently experiencing the golden age of growth investing. With so many exciting new companies to choose from and plenty of businesses delivering rapidly accelerating earnings or sales growth, market participants are almost spoiled for choice when it comes to findi... Read the Full Story |
|
Industrials | |
There are significant insider trades and then there are ‘big splash’ insider trades. Those that fall into the latter category often make big waves in trading circles and have the potential to drive a stock’s long-term direction.
While all transactions placed by corporate insider... Read the Full Story |
|
From Our Partners | | Porter Stansberry says President Trump has signed an executive order initiating what he calls a full U.S. dollar reset - and most Americans don't know it's happening.
The last time America underwent a monetary shift like this, under Nixon in the 1970s, it minted an average of 1,300 new millionaires a day for over half a century. Stansberry has released a new documentary naming the assets he believes are positioned to surge as a result. | | Watch the free briefing and see the three steps to prepare today |
|
Consumer Discretionary | |
Foot Locker (NYSE:FL) stock gapped up after a stronger than expected earnings report. However, bullish investors are undoubtedly frustrated at the company’s inability to push higher. As of this writing, FL stock is making another run at a level of resistance.
The company has benefited fro... Read the Full Story |
|
Consumer Discretionary | | Casino operator Las Vegas Sands (NYSE: LVS) stock is down (-37%) year-to-date (YTD) for 2021 despite the S&P 500 index (NYSEARCA: SPY) continues making new highs. Fears of extended delays in the reopening efforts in Macau saddled by travel restrictions emanating from the Covid-19 Delta variant i... Read the Full Story |
|
Technology | |
Investors had plenty of news to chew on coming into this week but the fresh highs printed by the major indices on Monday told them all they needed to know. For now at least, equities are still in risk-on mode, inflation concerns are dissipating, and there’s no sign of a taper tantrum on the ... Read the Full Story |
|
Consumer Discretionary | |
A Blowout Quarter For Flexsteel
Flexsteel (NASDAQ: FLXS) absolutely smashed all expectations for the fourth quarter. The combination of retail demand for furniture coupled with pent-up and delayed demand for commercial furniture pushed company revenues to an all-time high. More importantly, the c... Read the Full Story |
|
Consumer Discretionary | |
Back in 2015 Under Armour (NYSE: UAA) was flying high as an upstart challenger to Nike and other industry incumbents. The athletic apparel maker then fell into a major slump shedding more than 60% of its market value from 2016 to 2017 following a series of missteps.
Fast forward four years and Un... Read the Full Story |
|
The Early Bird Stock Of The Day Patrick Industries, Inc. manufactures and distributes component products and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States, Mexico, China, and Canada. Its Manufacturing segment manufactures and sells laminated products for furniture, shelving, wall, countertop, and cabinet products; cabinet doors, fiberglass bath fixtures, and tile systems; hardwood furniture, vinyl printing, amplifiers, tower speakers, soundbars, and subwoofers; solid surface, granite, and quartz countertop fabrication; aluminum products; fiberglass and plastic components; RV paintings; decorative vinyl and paper laminated panels; softwoods lumber; custom cabinets; polymer-based flooring products; dash panels; and other products. This segment also provides wrapped vinyl, paper, and hardwood profile mouldings; interior passage doors; air handling products; slide-out trim and fascia; treated, untreated, and laminated plywood; fiberglass and plastic helm systems and components; boat towers, tops, trailers, and frames; adhesives and sealants; thermoformed shower surrounds; specialty bath, and closet building products; wiring and wire harnesses; aluminum and plastic fuel tanks; CNC molds, composite parts, marine hardware; slotwall panels, components; and other products. The company's Distribution segment distributes pre-finished wall and ceiling panels, drywall and finishing products, electronic and audio system components, appliances, marine accessories, wiring products, electrical and plumbing products, fiber reinforced polyester products; cement siding products, raw and processed lumber, interior passage, roofing, laminate, and ceramic flooring products, shower doors, furniture, fireplaces and surrounds, interior and exterior lighting products, and other products. This segment also offers transportation and logistics services. Patrick Industries, Inc. was incorporated in 1959 and is based in Elkhart, Indiana. | | View Today's Stock Pick |
|
