Good MorningEquities rebounded last week but the move did not get far. The S&P 500 hit resistance at the 3,800 level giving another technical confirmation that this sell-off is not over. Not only is the outlook for earnings in decline but the inflationary pressures and systemic challenges causing them are still present as well. This has the FOMC on track to continue raising rates and possibly spark a major recession in the economy.
This week's news will be twofold. On the one hand, we will be getting another read on CPI and it should be a hot one. On the other hand, the earnings season is about to get underway and there are many risks for the market. The banks should do well because they can make money from rising interest rates, the risk is that other S&P 500 sectors will fare less well and so far the indications are pointing in that direction. A weaker-than-expected season will help bring the S&P 500 down to a new low, possibly as low as 3,200. Featured:
Watch These 4 Penny Stocks... (PTR) 
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Stocks | | | Mid-caps Digi International (NASDAQ: DGII), Lamb Weston Holdings (NYSE: LW) and Wingstop (NASDAQ: WING) all climbed higher recently n heavy trading volume, even as the broader market reversed lower.
As a whole, mid-caps have been slightly outperforming the S&P 500. The SPDR S&P MidCap... Read the Full Story |
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Stocks | | | Large-cap financials such as JPMorgan Chase (NYSE: JPM), Bank of America (NYSE: BAC) and Wells Fargo (NYSE: WFC) rallied early this week along with the broader market, while some smaller bank stocks, like First Citizens Bancshares (NASDAQ: FCNCA), have been outpacing the wider sector.
F... Read the Full Story |
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Markets | | | Consumer cleaning products maker Clorox (NYSE: CLX) stock skyrocketed during the pandemic from unprecedented demand for its cleaning supplies but have since fallen below pandemic levels. While a reversion from its nosebleed levels is to be expected, investors ponder if the Mr. Market has overly puni... Read the Full Story |
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Tech | | | China has criticized the latest U.S. decision to tighten export controls that would make it harder for China to obtain and manufacture advanced computing chips, calling it a violation of international economic and trade rules that will “isolate and backfire” on the U.S. The Foreign Ministry spokesperson accused the U.S. of abusing its export control measures to maliciously block and suppress Chinese companies Read the Full Story |
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Markets | | |
Lucid Motors (NASDAQ: LCID) stock is down 62% for the year. And LCID stock is down nearly 75% from its 52-week high set last November. Demand for electric vehicles (EVs) is on the rise. But like many companies in the space, Lucid is finding it hard to meet its production goals. In fact, Lucid lowe... Read the Full Story |
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Politics | | | When it comes to reassuring Americans about an economy that's an election-year challenge for his party, President Joe Biden is telling the country to hold on.
It's a message of patience as voters are buffeted by persistent inflation, fears of a recession and the prospect of rising ene... Read the Full Story |
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Politics | | | Thai police are investigating a report that a CNN crew inappropriately entered the day care center while reporting on the aftermath of the massacre in the building that left more than 20 preschoolers dead Read the Full Story |
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Politics | | | An explosion Saturday caused the partial collapse of a bridge linking the Crimean Peninsula with Russia, damaging an important supply artery for the Kremlin's faltering war effort in southern Ukraine and hitting a towering symbol of Russian power in the region.
Nobody immediately clai... Read the Full Story |
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Politics | | | California Gov. Gavin Newsom said Friday he will call a special session of the state Legislature in December to pass a new tax on oil company profits to punish them for what he called “rank price gouging."
Gas prices soared across the nation this summer because of high inflation, Russ... Read the Full Story |
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Markets | | | On September 27, 2022, the British pound sterling fell (-3.5%) to $1.084 hitting 37-year lows against the U.S. dollar. The pound tumbled further to a low of $1.0350 after U.K. Chancellor of Exchequer commented two days later there would be “more to come” in regard to the misguided econom... Read the Full Story |
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Monday's Early Bird Stock Of The Day Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal. It also transports overseas freight through various Atlantic and Gulf Coast ports; and operates an intermodal network. As of December 31, 2023, the company operated approximately 19,100 route miles in 22 states and the District of Columbia. Norfolk Southern Corporation was incorporated in 1980 and is headquartered in Atlanta, Georgia. | | View Today's Stock Pick |
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