Good MorningEquities fell to a new low last week, rebounded strongly, hit resistance, and fell again to end the week down ahead of the first busy week of the Q3 earnings season. The move was driven by a hotter-than-expected CPI report that led to a technical bounce from key support. The takeaway is the market is unsure of what to make of the news although the downtrend is still intact. This week, investors should brace for another test of the 3,500 level, and if it is broken another 5% to 10% decline in the index.
Earnings reports will be front and center this week but so too will be the economic data. The data ranges from housing to manufacturing, to the Fed's Beige Book and the Index of Leading Indicators which is expected to be negative for the 6th consecutive month. The takeaway is the market downturn is not over and this week could bring renewed volatility. Featured: 100% overnight gains? (Ad) 
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Markets | |
The S&P 500 index (NYSEARCA: SPY) is trading down (-25%) for the year, which is technically bear market territory. The major driver for falling stock markets and the rising U.S. dollar index (NYSEARCA: UUP) can be attributed to U.S. Federal Reserve (Fed) interest rate hikes which they are aggr... Read the Full Story |
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From Our Partners | | Palantir, Micron and SanDisk show how fast a stock can become the trade everyone suddenly wants. That's often when investors make their costliest mistake: arriving after the easy part of the move is gone.
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Markets | | A strong U.S. dollar results in more buying power for U.S. importers and U.S. tourists buying products overseas. However, it’s bad news for U.S. companies that export U.S. products overseas as they receive less for them. We’ve seen the warnings from major players as their earnings and fo... Read the Full Story |
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Technology | | What a difference a year makes. Just less than a year ago, graphic semiconductor chip supplier NVIDIA (NASDAQ: NVDA) stock was riding high in the $340s with the underlying business firing on all cylinders. Total revenues grew 46% to record levels. Its video gaming segment saw sales grow 31% to $3.62... Read the Full Story |
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From Our Partners | | A drilling crew near the Grand Canyon uncovered a clean energy well producing nearly eight times the output of Saudi Arabia's largest oil field, with potential to last two million years.
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Consumer Staples | |
Inflation continues to be a major story that’s driving markets. And that’s the underlying plot behind the announced merger between Kroger (NYSE:KR) and Albertsons Companies (NYSE:ACI).
On October 13, 2022, Kroger announced that it would pay $34.10 for each Albertsons share to buy th... Read the Full Story |
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Consumer Discretionary | |
The stock market will limp into third-quarter earnings season with a host of concerns. Negative inflation readings, a hawkish Fed and expectations of a prolonged economic recession are just the headliners.
Last week the S&P 500 slipped below the 3,500 level for the first time since November 2... Read the Full Story |
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From Our Partners | | AI is expanding beyond software into robots, factories, vehicles, and intelligent machines. That shift could create a new group of market leaders before most investors notice.
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Healthcare | |
UnitedHealth Group (NYSE:UNH) stock is up 1.77% in late-day trading after reporting a double beat on third-quarter earnings. The gains would likely be higher but for the broader sell-off taking place in the market.
At a time when investors are seeking value wherever they can find it, this is so... Read the Full Story |
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Technology | |
As the world’s first and largest pure-play on semiconductor foundry/manufacturing Taiwan Semiconductor (NYSE: TSM) may be the single best individual investment in the semiconductor space. The company does not make or market its own product, it manufactures semiconductors for suppliers rangin... Read the Full Story |
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Materials | | You’re probably not alone if you’ve never heard of Trinseo (NYSE: TSE), a small, Pennslyvania-based maker of synthetic rubber, latex and plastic products sold to manufacturers.
But analysts at Morgan Stanley sure are familiar with Trinseo, lowering the price target from $33 to $20, wit... Read the Full Story |
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Industrials | | A 4% jump in Delta’s (NYSE: DAL) shares on a day when the S&P 500 index sank to fresh lows is a good indication of what they might do over the next few months. The catalyst for the move higher was the company’s Q3 earnings report, which was released just before the bell rang to start... Read the Full Story |
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Communication Services | |
As interest rates rise, mortgage rates have climbed close to 7% over the past few months. This means that demand for housing has come down significantly. A number of factors, including the prevalence of working from home, has led many people to move away from metropolitan areas. Now that interest ... Read the Full Story |
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Monday's Early Bird Stock Of The Day Union Pacific Corporation, through its subsidiary, Union Pacific Railroad Company, operates in the railroad business in the United States. The company offers transportation services for grain and grain products, fertilizers, food and refrigerated products, and coal and renewables to grain processors, animal feeders, ethanol producers, renewable biofuel producers, and other agricultural users; and construction products, industrial chemicals, plastics, forest products, specialized products, metals and ores, petroleum, liquid petroleum gases, soda ash, and sand, as well as finished automobiles, automotive parts, and merchandise in intermodal containers. Union Pacific Corporation was founded in 1862 and is headquartered in Omaha, Nebraska. | | View Today's Stock Pick |
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