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: MindWalk Holdings Pushes AI Into Pharma Research (Ad) 
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Consumer Staples | | 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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From Our Partners | | In 1974, a quiet deal between Henry Kissinger and the Saudis reshaped America's monetary order overnight, with no announcement and no vote in Congress.
Decades later, the dollar had lost more than 84% of its purchasing power even as millionaire ranks surged into the millions.
Financial reporter Kimi Weintraub sits down to explore a new, largely unnoticed shift in America's monetary system, one tied to executive orders and a reported 13-nation agreement. | | Watch the full interview before the December 14 Miami summit |
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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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Finance | | 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.
First Citiz... Read the Full Story |
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From Our Partners | | Barrick Mining has spent decades building one of the world's great gold districts in Nevada, anchored by Fourmile, Goldrush, and Cortez Hills, a region that could hold as much as 60 million ounces of gold.
Bordering Fourmile and less than a mile from Goldrush sits a little-known explorer now moving from historical data toward active exploration, setting targets and preparing for a maiden drilling program.
With gold trading near record highs, this could be a pivotal stage for an overlooked name in the district. | | See why this overlooked gold explorer could be entering its most important stage |
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Consumer Staples | |
ConAgra Brands (NYSE: CAG) has been a value pick for income investors for some time now and never has that been more true. The company is proving why the consumer staples are where risk-averse investors want to be by outperforming on the top and bottom lines and providing favorable guidance. The b... Read the Full Story |
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Technology | | 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 400 ... Read the Full Story |
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From Our Partners | | When Moonshot AI's new model rattled overnight markets, stocks gapped down 1 percent before the open, and history shows the story doesn't end there.
Between 9 30 and 9 50 AM, Wall Street settles nearly 25 percent of the day's total volume in a single 20 minute window, often revealing market direction for the rest of the morning.
A former money manager breaks down the floor data behind this pattern, including a June 25th session where inflation surged past 4 percent and the market moved just 0.3 percent afterward. | | Watch the full video breakdown before access is taken down |
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Consumer Discretionary | |
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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Technology | |
A 15% jump in Box Inc. (NYSE: BOX) since the start of the month should tell you everything about the kind of momentum the cloud storage company carries into Q4. Its shares had been under pressure throughout September after forming a dangerous-looking double top over the summer, but there’s a... Read the Full Story |
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Industrials | |
If you’ve been perusing Marketbeat.com’s proprietary penny stock screening tool you’ve likely seen the name Addentax (NASDAQ: ATXG) or the ticker ATXG on the list. This stock IPO’d without much fanfare but shot up by quadruple digits in the first session. This might signify... Read the Full Story |
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Consumer Discretionary | |
The market has an upward bias, and it's as good a reason as any for Ford Motor Company (NYSE: F) stock to climb over 8% in the week ending October 5. The company’s outlook for electric vehicle (EV) sales may be getting investors excited. According to the company, EV sales climbed nearly 200%... Read the Full Story |
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Markets | | Media and entertainment mid-cap World Wrestling Entertainment Inc. (NYSE: WWE) has been trying to grapple its way out of a price consolidation that began in mid-August as a broader market rally tapped out. On Tuesday, WWE rallied to its highest closing price in over three years. Along with Liberty M... 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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